Financial Assets Measured at Fair Value on Recurring Basis | The following table summarizes our fair value measurements at December 31, 2016 and 2015, respectively, for financial assets measured at fair value on a recurring basis: | | | | | | | | | | | | | | | | | | | | Fair Value Measurements Using | | Fair Value | | Quoted Prices in Active Markets (Level 1) | | Other Observable Inputs (Level 2) | | Unobservable Inputs (Level 3) | | (in millions) | December 31, 2016 | | | | | | | | Cash equivalents | $ | 3,654 |
| | $ | 3,654 |
| | $ | — |
| | $ | — |
| Debt securities: | | | | | | | | U.S. Treasury and other U.S. government corporations and agencies: | | | | | | | | U.S. Treasury and agency obligations | 786 |
| | — |
| | 786 |
| | — |
| Mortgage-backed securities | 1,637 |
| | — |
| | 1,637 |
| | — |
| Tax-exempt municipal securities | 3,305 |
| | — |
| | 3,302 |
| | 3 |
| Mortgage-backed securities: | | | | | | | | Residential | 9 |
| | — |
| | 9 |
| | — |
| Commercial | 304 |
| | — |
| | 304 |
| | — |
| Asset-backed securities | 160 |
| | — |
| | 160 |
| | — |
| Corporate debt securities | 3,597 |
| | — |
| | 3,593 |
| | 4 |
| Total debt securities | 9,798 |
| | — |
| | 9,791 |
| | 7 |
| Total invested assets | $ | 13,452 |
| | $ | 3,654 |
| | $ | 9,791 |
| | $ | 7 |
| December 31, 2015 | | | | | | | | Cash equivalents | $ | 2,229 |
| | $ | 2,229 |
| | $ | — |
| | $ | — |
| Debt securities: | | | | | | | | U.S. Treasury and other U.S. government corporations and agencies: | | | | | | | | U.S. Treasury and agency obligations | 332 |
| | — |
| | 332 |
| | — |
| Mortgage-backed securities | 1,891 |
| | — |
| | 1,891 |
| | — |
| Tax-exempt municipal securities | 2,668 |
| | — |
| | 2,663 |
| | 5 |
| Mortgage-backed securities: | | | | | | | | Residential | 13 |
| | — |
| | 13 |
| | — |
| Commercial | 985 |
| | — |
| | 985 |
| | — |
| Asset-backed securities | 263 |
| | — |
| | 263 |
| | — |
| Corporate debt securities | 2,958 |
| | — |
| | 2,952 |
| | 6 |
| Total debt securities | 9,110 |
| | — |
| | 9,099 |
| | 11 |
| Total invested assets | $ | 11,339 |
| | $ | 2,229 |
| | $ | 9,099 |
| | $ | 11 |
|
|
Changes in Fair Value of Assets Measured Using Significant Unobservable Inputs | During the years ended December 31, 2016, 2015, and 2014, the changes in the fair value of the assets measured using significant unobservable inputs (Level 3) were comprised of the following: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the years ended December 31, | | 2016 | | 2015 | | 2014 | | Private Placements | | Auction Rate Securities | | Total | | Private Placements | | Auction Rate Securities | | Total | | Private Placements | | Auction Rate Securities | | Total | | (in millions) | Beginning balance at January 1 | $ | 6 |
| | $ | 5 |
| | $ | 11 |
| | $ | 24 |
| | $ | 8 |
| | $ | 32 |
| | $ | 24 |
| | $ | 13 |
| | $ | 37 |
| Total gains or losses: | | | | | | | | | | | | | | | | | | Realized in earnings | — |
| | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | | — |
| | — |
| | — |
| Unrealized in other comprehensive income | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Purchases | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Sales | — |
| | — |
| | — |
| | (17 | ) | | (3 | ) | | (20 | ) | | — |
| | (5 | ) | | (5 | ) | Settlements | (2 | ) | | (2 | ) | | (4 | ) | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Balance at December 31 | $ | 4 |
| | $ | 3 |
| | $ | 7 |
| | $ | 6 |
| | $ | 5 |
| | $ | 11 |
| | $ | 24 |
| | $ | 8 |
| | $ | 32 |
|
|