Short-term and Long-term Investments, Restricted Deposits (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Schedule of 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): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2026 | | December 31, 2025 | | | Amortized Cost | | Gross
Unrealized Gains | | Gross
Unrealized Losses | | Fair Value | | Amortized Cost | | Gross
Unrealized Gains | | Gross
Unrealized Losses | | Fair Value | Debt securities: | | | | | | | | | | | | | | | | | U.S. Treasury securities and obligations of U.S. government corporations and agencies | $ | 568 | | | $ | — | | | $ | (9) | | | $ | 559 | | | $ | 533 | | | $ | 3 | | | $ | (1) | | | $ | 535 | | | Corporate securities | 10,518 | | | 8 | | | (346) | | | 10,180 | | | 10,642 | | | 166 | | | (146) | | | 10,662 | | Restricted certificates of deposit | 1 | | | — | | | — | | | 1 | | | 1 | | | — | | | — | | | 1 | | Restricted cash equivalents | 187 | | | — | | | — | | | 187 | | | 69 | | | — | | | — | | | 69 | | Short-term time deposits | 72 | | | — | | | — | | | 72 | | | 205 | | | — | | | — | | | 205 | | | Municipal securities | 3,191 | | | — | | | (132) | | | 3,059 | | | 3,790 | | | 37 | | | (69) | | | 3,758 | | | Asset-backed securities | 1,387 | | | 2 | | | (24) | | | 1,365 | | | 1,656 | | | 20 | | | (10) | | | 1,666 | | | Residential mortgage-backed securities | 1,641 | | | — | | | (142) | | | 1,499 | | | 1,763 | | | 21 | | | (70) | | | 1,714 | | Commercial mortgage-backed securities | 1,037 | | | 1 | | | (41) | | | 997 | | | 1,156 | | | 9 | | | (29) | | | 1,136 | | | Equity securities | 1 | | | — | | | — | | | 1 | | | 1 | | | — | | | — | | | 1 | | Private equity investments | 1,001 | | | — | | | — | | | 1,001 | | | 915 | | | — | | | — | | | 915 | | Life insurance contracts | 229 | | | — | | | — | | | 229 | | | 217 | | | — | | | — | | | 217 | | | Total | $ | 19,833 | | | $ | 11 | | | $ | (694) | | | $ | 19,150 | | | $ | 20,948 | | | $ | 256 | | | $ | (325) | | | $ | 20,879 | | | | | | | | | | | | | | | | | | |
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| Schedule of Fair Value of Available-for-sale Debt Securities with Gross Unrealized Losses by Investment Type in a Continuous Unrealized Loss Position |
The fair value of available-for-sale debt securities 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): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2026 | | December 31, 2025 | | 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 | $ | (9) | | | $ | 493 | | | $ | — | | | $ | 14 | | | $ | — | | | $ | 88 | | | $ | (1) | | | $ | 43 | | | Corporate securities | (198) | | | 6,660 | | | (148) | | | 2,156 | | | (2) | | | 464 | | | (144) | | | 3,226 | | | Municipal securities | (60) | | | 1,808 | | | (72) | | | 984 | | | (1) | | | 241 | | | (68) | | | 1,550 | | | Asset-backed securities | (13) | | | 835 | | | (11) | | | 107 | | | (2) | | | 114 | | | (8) | | | 180 | | | Residential mortgage-backed securities | (59) | | | 1,070 | | | (83) | | | 428 | | | — | | | 120 | | | (70) | | | 687 | | | Commercial mortgage-backed securities | (13) | | | 450 | | | (28) | | | 335 | | | — | | | 156 | | | (29) | | | 480 | | | | | | | | | | | | | | | | | | | Total | $ | (352) | | | $ | 11,316 | | | $ | (342) | | | $ | 4,024 | | | $ | (5) | | | $ | 1,183 | | | $ | (320) | | | $ | 6,166 | |
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| Schedule of Contractual Maturities of Short-term and Long-term Investments and Restricted Deposits |
The contractual maturities of short-term and long-term debt securities and restricted deposits are as follows ($ in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2026 | | December 31, 2025 | | 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 | $ | 2,681 | | | $ | 2,663 | | | $ | 442 | | | $ | 440 | | | $ | 2,201 | | | $ | 2,190 | | | $ | 464 | | | $ | 464 | | | One year through five years | 6,158 | | | 5,940 | | | 686 | | | 664 | | | 7,266 | | | 7,219 | | | 574 | | | 566 | | | Five years through ten years | 4,052 | | | 3,859 | | | 349 | | | 331 | | | 4,198 | | | 4,252 | | | 334 | | | 339 | | | Greater than ten years | 133 | | | 126 | | | 36 | | | 35 | | | 160 | | | 157 | | | 43 | | | 43 | | | Asset-backed securities | 4,065 | | | 3,861 | | | — | | | — | | | 4,575 | | | 4,516 | | | — | | | — | | | Total | $ | 17,089 | | | $ | 16,449 | | | $ | 1,513 | | | $ | 1,470 | | | $ | 18,400 | | | $ | 18,334 | | | $ | 1,415 | | | $ | 1,412 | |
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