Quarterly report pursuant to Section 13 or 15(d)

Short-Term And Long-Term Investments And Restricted Deposits (Tables)

v3.2.0.727
Short-Term And Long-Term Investments And Restricted Deposits (Tables)
6 Months Ended
Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]  
Short-Term And Long-Term Investments And Restricted Deposits By Investment Type

Short term and long term investments and restricted deposits by investment type consist of the following ($ in millions):
 
June 30, 2015
 
December 31, 2014
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized Losses
 
Fair
Value
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized Losses
 
Fair
Value
U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
451

 
$
1

 
$
(1
)
 
$
451

 
$
393

 
$
1

 
$
(2
)
 
$
392

Corporate securities
632

 
2

 
(2
)
 
632

 
556

 
2

 
(2
)
 
556

Restricted certificates of deposit
6

 

 

 
6

 
6

 

 

 
6

Restricted cash equivalents
80

 

 

 
80

 
79

 

 

 
79

Municipal securities:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

General obligation
96

 

 

 
96

 
54

 

 

 
54

Pre-refunded
4

 

 

 
4

 
5

 

 

 
5

Revenue
161

 
1

 
(1
)
 
161

 
101

 
1

 

 
102

Variable rate demand notes
28

 

 

 
28

 
14

 

 

 
14

Asset backed securities
162

 

 

 
162

 
180

 

 

 
180

Mortgage backed securities
77

 
1

 

 
78

 
84

 
1

 

 
85

Cost and equity method investments
68

 

 

 
68

 
68

 

 

 
68

Life insurance contracts
16

 

 

 
16

 
16

 

 

 
16

Total
$
1,781

 
$
5

 
$
(4
)
 
$
1,782

 
$
1,556

 
$
5

 
$
(4
)
 
$
1,557

Fair Value Of Available-For-Sale Investments With Gross Unrealized Losses By Investment Type And Length Of Time
The fair value of available-for-sale investments with gross unrealized losses by investment type and length of time that individual securities have been in a continuous unrealized loss position were as follows ($ in millions):
 
June 30, 2015
 
December 31, 2014
 
Less Than 12 Months
 
12 Months or More
 
Less Than 12 Months
 
12 Months or More
 
Unrealized Losses
 
Fair
Value
 
Unrealized Losses
 
Fair
Value
 
Unrealized Losses
 
Fair
Value
 
Unrealized Losses
 
Fair
Value
U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
(1
)
 
$
162

 
$

 
$
16

 
$

 
$
72

 
$
(2
)
 
$
180

Corporate securities
(2
)
 
286

 

 
31

 
(2
)
 
311

 

 
1

Municipal securities:
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

General obligation

 
51

 

 
3

 

 
4

 

 
3

Revenue
(1
)
 
52

 

 
5

 

 
16

 

 
3

Pre-refunded

 

 

 

 

 

 

 
1

Asset backed securities

 
37

 

 
15

 

 
70

 

 
10

Mortgage backed securities

 
37

 

 

 

 
18

 

 

Total
$
(4
)
 
$
625

 
$

 
$
70

 
$
(2
)
 
$
491

 
$
(2
)
 
$
198

Contractual Maturities Of Short-Term And Long-Term Investments And Restricted Deposits
The contractual maturities of short term and long term investments and restricted deposits are as follows ($ in millions):
 
June 30, 2015
 
December 31, 2014
 
Investments
 
Restricted Deposits
 
Investments
 
Restricted Deposits
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
One year or less
$
140

 
$
140

 
$
99

 
$
99

 
$
176

 
$
177

 
$
92

 
$
92

One year through five years
1,325

 
1,326

 
2

 
2

 
1,121

 
1,121

 
8

 
8

Five years through ten years
135

 
135

 

 

 
121

 
120

 

 

Greater than ten years
80

 
80

 

 

 
38

 
39

 

 

Total
$
1,680

 
$
1,681

 
$
101

 
$
101

 
$
1,456

 
$
1,457

 
$
100

 
$
100