Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2011

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Interest Rate Swap Derivatives

US-dollar interest rate swap derivative arrangements are as follows:



As of September 30, 2011
Notional Value	Effective Date	Expiration Date	Fixed Rate ⁽¹⁾
(In $ millions)
800	April 2, 2007	January 2, 2012	4.92	%
400	January 2, 2008	January 2, 2012	4.33	%
200	April 2, 2009	January 2, 2012	1.92	%
1,100	January 2, 2012	January 2, 2014	1.71	%

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(1)	Fixes the LIBOR portion of the Company's US-dollar denominated variable rate borrowings (Note 9).



As of December 31, 2010
Notional Value	Effective Date	Expiration Date	Fixed Rate ⁽¹⁾
(In $ millions)
100	April 2, 2007	January 2, 2011	4.92	%
800	April 2, 2007	January 2, 2012	4.92	%
400	January 2, 2008	January 2, 2012	4.33	%
200	April 2, 2009	January 2, 2012	1.92	%
1,100	January 2, 2012	January 2, 2014	1.71	%

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(1)	Fixes the LIBOR portion of the Company's US-dollar denominated variable rate borrowings (Note 9).

Euro interest rate swap derivative arrangements are as follows:



As of December 31, 2010
Notional Value	Effective Date	Expiration Date	Fixed Rate ⁽¹⁾
(In € millions)
150	April 2, 2007	April 2, 2011	4.04	%

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⁽¹⁾	Fixes the EURIBOR portion of the Company's Euro denominated variable rate borrowings (Note 9).

Schedule of Notional Amounts of Foreign Currency Derivatives

Gross notional values of the foreign currency forwards and swaps are as follows:



	As of September 30, 2011	As of December 31, 2010
	(In $ millions)
Total	1,442	751

Schedule of Changes in Fair Value of Derivatives

Information regarding changes in the fair value of the Company’s derivative arrangements is as follows:



	Three Months Ended September 30, 2011						Nine Months Ended September 30, 2011
	Gain (Loss) Recognized in Other Comprehensive Income			Gain (Loss) Recognized in Income			Gain (Loss) Recognized in Other Comprehensive Income			Gain (Loss) Recognized in Income
	(In $ millions)
Derivatives designated as cash flow hedging instruments
Interest rate swaps	(9	)	⁽¹⁾	(15	)	⁽²⁾	(26	)	⁽³⁾	(45	)	⁽²⁾
Derivatives not designated as hedging instruments
Interest rate swaps	—			1		⁽⁴⁾	—			(2	)	⁽⁴⁾
Foreign currency forwards and swaps	—			5		⁽⁵⁾	—			(10	)	⁽⁵⁾
Total	(9	)		(9	)		(26	)		(57	)

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⁽¹⁾	Amount excludes $2 million of gains associated with the Company’s equity method investments’ derivative activity and $2 million of tax expense recognized in Other comprehensive income (loss).


⁽²⁾	Amount represents reclassification from Accumulated other comprehensive income (loss), net and is included in Interest expense in the unaudited interim consolidated statements of operations.


⁽³⁾	Amount excludes $1 million of gains associated with the Company’s equity method investments’ derivative activity and $8 million of tax expense recognized in Other comprehensive income (loss).


⁽⁴⁾	Included in Interest expense in the unaudited interim consolidated statements of operations.


⁽⁵⁾	Included in Foreign exchange gain (loss), net for operating activity or Other income (expense), net for non-operating activity in the unaudited interim consolidated statements of operations.



	Three Months Ended September 30, 2010						Nine Months Ended September 30, 2010
	Gain (Loss) Recognized in Other Comprehensive Income			Gain (Loss) Recognized in Income			Gain (Loss) Recognized in Other Comprehensive Income			Gain (Loss) Recognized in Income
	(In $ millions)
Derivatives designated as cash flow hedging instruments
Interest rate swaps	(17	)	⁽¹⁾	(16	)	⁽²⁾	(40	)	⁽³⁾	(51	)	⁽²⁾
Derivatives not designated as hedging instruments
Foreign currency forwards and swaps	—			(8	)	⁽⁴⁾	—			30		⁽⁴⁾
Total	(17	)		(24	)		(40	)		(21	)

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⁽¹⁾	Amount excludes $1 million of losses associated with the Company’s equity method investments’ derivative activity.


⁽²⁾	Amount represents reclassification from Accumulated other comprehensive income (loss), net and is classified as Interest expense in the unaudited interim consolidated statements of operations.


⁽³⁾	Amount excludes $6 million of losses associated with the Company's equity method investments' derivative activity and $4 million of tax expense.


⁽⁴⁾	Included in Foreign exchange gain (loss), net for operating activity or Other income (expense), net for non-operating activity in the unaudited interim consolidated statements of operations.

See Note 16 for additional information regarding the fair value of the Company’s derivative arrangements.

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

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