Investments (Tables)
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3 Months Ended |
Mar. 31, 2026 |
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| Short-Term and Long-Term Investments [Table Text Block] |
A summary of debt securities by major security type is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Fair
Value | | March 31, 2026 | | | | | | | | | | Debt securities - available-for-sale: | | | | | | | | | | U.S. government and agency obligations | | $ | 3,605 | | | $ | — | | | $ | (168) | | | $ | 3,437 | | | State and municipal obligations | | 6,027 | | | 14 | | | (262) | | | 5,779 | | | Corporate obligations | | 28,157 | | | 80 | | | (699) | | | 27,538 | | | U.S. agency mortgage-backed securities | | 10,901 | | | 17 | | | (643) | | | 10,275 | | | Non-U.S. agency mortgage-backed securities | | 3,177 | | | 5 | | | (105) | | | 3,077 | | | Total debt securities - available-for-sale | | 51,867 | | | 116 | | | (1,877) | | | 50,106 | | | Debt securities - held-to-maturity: | | | | | | | | | | U.S. government and agency obligations | | 445 | | | 1 | | | (1) | | | 445 | | | State and municipal obligations | | 26 | | | — | | | (3) | | | 23 | | | Corporate obligations | | 3 | | | — | | | — | | | 3 | | | Total debt securities - held-to-maturity | | 474 | | | 1 | | | (4) | | | 471 | | | Total debt securities | | $ | 52,341 | | | $ | 117 | | | $ | (1,881) | | | $ | 50,577 | | | December 31, 2025 | | | | | | | | | | Debt securities - available-for-sale: | | | | | | | | | | U.S. government and agency obligations | | $ | 4,086 | | | $ | 2 | | | $ | (156) | | | $ | 3,932 | | | State and municipal obligations | | 6,533 | | | 24 | | | (232) | | | 6,325 | | | Corporate obligations | | 25,927 | | | 159 | | | (540) | | | 25,546 | | | U.S. agency mortgage-backed securities | | 10,284 | | | 33 | | | (598) | | | 9,719 | | | Non-U.S. agency mortgage-backed securities | | 2,748 | | | 11 | | | (99) | | | 2,660 | | | Total debt securities - available-for-sale | | 49,578 | | | 229 | | | (1,625) | | | 48,182 | | | Debt securities - held-to-maturity: | | | | | | | | | | U.S. government and agency obligations | | 461 | | | 2 | | | (1) | | | 462 | | | State and municipal obligations | | 26 | | | — | | | (2) | | | 24 | | | Corporate obligations | | 3 | | | — | | | — | | | 3 | | | Total debt securities - held-to-maturity | | 490 | | | 2 | | | (3) | | | 489 | | | Total debt securities | | $ | 50,068 | | | $ | 231 | | | $ | (1,628) | | | $ | 48,671 | |
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| Investments by Contractual Maturity [Table Text Block] |
The amortized cost and fair value of debt securities as of March 31, 2026, by contractual maturity, were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Available-for-Sale | | Held-to-Maturity | | (in millions) | | Amortized
Cost | | Fair
Value | | Amortized
Cost | | Fair
Value | | Due in one year or less | | $ | 3,334 | | | $ | 3,316 | | | $ | 267 | | | $ | 268 | | | Due after one year through five years | | 14,106 | | | 13,770 | | | 186 | | | 185 | | | Due after five years through ten years | | 12,664 | | | 12,254 | | | 4 | | | 4 | | | Due after ten years | | 7,685 | | | 7,414 | | | 17 | | | 14 | | | U.S. agency mortgage-backed securities | | 10,901 | | | 10,275 | | | — | | | — | | | Non-U.S. agency mortgage-backed securities | | 3,177 | | | 3,077 | | | — | | | — | | | Total debt securities | | $ | 51,867 | | | $ | 50,106 | | | $ | 474 | | | $ | 471 | |
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| Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value |
The fair value of available-for-sale debt securities with gross unrealized losses by major security type and length of time that individual securities have been in a continuous unrealized loss position were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Less Than 12 Months | | 12 Months or Greater | | Total | | (in millions) | | Fair
Value | | Gross
Unrealized
Losses | | Fair
Value | | Gross
Unrealized
Losses | | Fair
Value | | Gross
Unrealized
Losses | | March 31, 2026 | | | | | | | | | | | | | | U.S. government and agency obligations | | $ | 1,076 | | | $ | (10) | | | 1,959 | | | $ | (158) | | | $ | 3,035 | | | $ | (168) | | | State and municipal obligations | | 1,402 | | | (27) | | | 3,418 | | | (235) | | | 4,820 | | | (262) | | | Corporate obligations | | 11,495 | | | (130) | | | 9,010 | | | (569) | | | 20,505 | | | (699) | | | U.S. agency mortgage-backed securities | | 3,295 | | | (44) | | | 5,195 | | | (599) | | | 8,490 | | | (643) | | | Non-U.S. agency mortgage-backed securities | | 1,007 | | | (6) | | | 1,286 | | | (99) | | | 2,293 | | | (105) | | | Total debt securities - available-for-sale | | $ | 18,275 | | | $ | (217) | | | $ | 20,868 | | | $ | (1,660) | | | $ | 39,143 | | | $ | (1,877) | | | December 31, 2025 | | | | | | | | | | | | | | U.S. government and agency obligations | | $ | 500 | | | $ | (4) | | | $ | 2,339 | | | $ | (152) | | | $ | 2,839 | | | $ | (156) | | | State and municipal obligations | | 523 | | | (8) | | | 4,342 | | | (224) | | | 4,865 | | | (232) | | | Corporate obligations | | 2,661 | | | (16) | | | 10,399 | | | (524) | | | 13,060 | | | (540) | | | U.S. agency mortgage-backed securities | | 346 | | | (1) | | | 6,665 | | | (597) | | | 7,011 | | | (598) | | | Non-U.S. agency mortgage-backed securities | | 184 | | | (1) | | | 1,355 | | | (98) | | | 1,539 | | | (99) | | | Total debt securities - available-for-sale | | $ | 4,214 | | | $ | (30) | | | $ | 25,100 | | | $ | (1,595) | | | $ | 29,314 | | | $ | (1,625) | |
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