Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2016



	Fair Value Measurement
	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)		Total		Balance Sheet Classification
	(In $ millions)
As of June 30, 2016
Derivatives Designated as Cash Flow Hedges
Commodity swaps	—	1		1		Current Other assets
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	—	9		9		Current Other assets
Total assets	—	10		10
Designated as Net Investment Hedges
3.250% Notes⁽¹⁾	—	—		—		Long-term Debt
Term C-2 loans⁽¹⁾	—	—		—		Long-term Debt
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	—	(3	)	(3	)	Current Other liabilities
Total liabilities	—	(3	)	(3	)
As of December 31, 2015
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	—	2		2		Current Other assets
Total assets	—	2		2
Designated as a Net Investment Hedge
3.250% Notes⁽¹⁾	—	—		—		Long-term Debt
Term C-2 loans⁽¹⁾	—	—		—		Long-term Debt
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	—	(2	)	(2	)	Current Other liabilities
Total liabilities	—	(2	)	(2	)

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⁽¹⁾	Included in the unaudited consolidated balance sheets at carrying amount.

Carrying values and fair values of financial instruments that are not carried at fair value are as follows:



		Fair Value Measurement
	Carrying Amount	Significant Other Observable Inputs (Level 2)	Unobservable Inputs (Level 3)	Total
	(In $ millions)
As of June 30, 2016
Cost investments	151	—	—	—
Insurance contracts in nonqualified trusts	51	51	—	51
Long-term debt, including current installments of long-term debt	2,539	2,427	229	2,656
As of December 31, 2015
Cost investments	151	—	—	—
Insurance contracts in nonqualified trusts	55	55	—	55
Long-term debt, including current installments of long-term debt	2,542	2,348	238	2,586