Debt (Tables)

6 Months Ended

Jun. 30, 2016

Line of Credit Facility [Line Items]

Schedule of Short-term Debt

	As of June 30, 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)	61	52
Revolving credit facility(2)	—	350
Accounts receivable securitization facility(3)	—	55
Total	119	513

______________________________

⁽¹⁾  The weighted average interest rate was 3.5% and 3.3% as of June 30, 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 June 30, 2016		As of December 31, 2015
	(In $ millions)
Long-Term Debt
Senior credit facilities - Term C-2 loan due 2016(1)	31		30
Senior credit facilities - Term C-3 loan due 2018(2)	876		878
Senior unsecured notes due 2019, interest rate of 3.250%	333		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
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	229		238
Subtotal	2,539		2,542
Unamortized debt issuance costs(3)	(17	)	(18	)
Current installments of long-term debt	(58	)	(56	)
Total	2,464		2,468

______________________________

⁽¹⁾  The margin for borrowings under the Term C-2 loan facility was 2.0% above the Euro Interbank Offered Rate ("EURIBOR").

⁽²⁾  The margin for borrowings under the Term C-3 loan facility was 2.25% above LIBOR (for US dollars) and 2.25% above EURIBOR (for Euros), as applicable.

⁽³⁾  Related to the Company's long-term debt, excluding obligations under capital leases.

Schedule of First Lien Senior Secured Leverage Ratios

The Company's first lien senior secured leverage ratios under the Amended Credit Agreement are as follows:

As of June 30, 2016
Maximum	Estimate	Estimate, If Fully Drawn
3.90	0.65	1.28

Revolving Credit Facility [Member]

Line of Credit Facility [Line Items]

Schedule of Balances Available for Borrowing

The Company's debt balances and amounts available for borrowing under its revolving credit facility expiring October 2018 are as follows:

	As of June 30, 2016
	(In $ millions)
Revolving Credit Facility
Borrowings outstanding(1)	—
Letters of credit issued	—
Available for borrowing(2)	900

______________________________

⁽¹⁾  The Company borrowed $245 million and repaid $595 million during the six months endedJune 30, 2016.

⁽²⁾  The margin for borrowings under the revolving credit facility was 1.5% above LIBOR.

Accounts Receivable Securitization Facility [Member]

Line of Credit Facility [Line Items]

Schedule of Balances Available for Borrowing

The Company's debt balances and amounts available for borrowing under its securitization facility are as follows:

	As of June 30, 2016
	(In $ millions)
Accounts Receivable Securitization Facility
Borrowings outstanding(1)	—
Letters of credit issued	52
Available for borrowing	56
Total borrowing base	108
Maximum borrowing base(2)	120

______________________________

⁽¹⁾  The Company repaid $55 million during the six months endedJune 30, 2016.

⁽²⁾  Outstanding accounts receivable transferred to the SPE was $145 million.