Debt (Tables)

3 Months Ended

Mar. 31, 2016

Debt Disclosure [Abstract]

Schedule of Short-term Debt

	As of March 31, 2016	As of December 31, 2015
	(In $ millions)
Short-Term Borrowings and Current Installments of Long-Term Debt - Third Party and Affiliates
Current installments of long-term debt	58	56
Short-term borrowings, including amounts due to affiliates(1)	58	52
Revolving credit facility(2)	—	350
Accounts receivable securitization facility(3)	—	55
Total	116	513

______________________________

⁽¹⁾  The weighted average interest rate was 2.8% and 3.3% as of March 31, 2016 and December 31, 2015, respectively.

⁽²⁾  The weighted average interest rate was 1.8% as of December 31, 2015.

⁽³⁾  The weighted average interest rate was 0.8% as of December 31, 2015.

Schedule of Long-term Debt

	As of March 31, 2016		As of December 31, 2015
	(In $ millions)
Long-Term Debt
Senior credit facilities - Term C-2 loan due 2016	31		30
Senior credit facilities - Term C-3 loan due 2018	883		878
Senior unsecured notes due 2019, interest rate of 3.250%	342		327
Senior unsecured notes due 2021, interest rate of 5.875%	400		400
Senior unsecured notes due 2022, interest rate of 4.625%	500		500
Pollution control and industrial revenue bonds due at various dates through 2030, interest rates ranging from 5.70% to 6.70%	—		169
Refunding loan for pollution control and industrial revenue bonds due at various dates through 2030, interest rates ranging from 4.05% to 5.00%	170		—
Obligations under capital leases due at various dates through 2054	237		238
Subtotal	2,563		2,542
Unamortized debt issuance costs(1)	(18	)	(18	)
Current installments of long-term debt	(58	)	(56	)
Total	2,487		2,468

______________________________

⁽¹⁾  Related to the Company's long-term debt, excluding obligations under capital leases.

Schedule of Senior Notes

The Company has outstanding senior unsecured notes issued in public offerings registered under the Securities Act of 1933, as amended, as follows (collectively, the "Senior Notes"):

Senior Notes	Issue Date	Principal	Interest Rate	Interest Pay Dates		Maturity Date
		(In millions)	(In percentages)
3.250% Notes	September 2014	€300	3.250	April 15	October 15	October 15, 2019
4.625% Notes	November 2012	$500	4.625	March 15	September 15	November 15, 2022
5.875% Notes	May 2011	$400	5.875	June 15	December 15	June 15, 2021

Schedule of First Lien Senior Secured Leverage Ratios

The Company's amended first lien senior secured leverage ratios under the revolving credit facility are as follows:

As of March 31, 2016
Maximum	Estimate	Estimate, If Fully Drawn
3.90	0.67	1.30

Schedule of Balances Available for Borrowing

The Company's balances available for borrowing are as follows:

	As of March 31, 2016
	(In $ millions)
Revolving Credit Facility
Borrowings outstanding	—	(1)
Letters of credit issued	—
Available for borrowing	900
Accounts Receivable Securitization Facility
Borrowings outstanding	—	(2)
Letters of credit issued	52
Available for borrowing	61
Total borrowing base	113
Maximum borrowing base	120	(3)

______________________________

⁽¹⁾  The Company borrowed $245 million and repaid $595 million during the three months endedMarch 31, 2016.

⁽²⁾  The Company repaid $55 million during the three months endedMarch 31, 2016.

⁽³⁾  Outstanding accounts receivable transferred by the Originators to the Transferor was $136 million.