Debt (Tables)

9 Months Ended

Sep. 30, 2016

Line of Credit Facility [Line Items]

Schedule of Short-term Debt

	As of September 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	19	56
Short-term borrowings, including amounts due to affiliates(1)	73	52
Revolving credit facility(2)	—	350
Accounts receivable securitization facility(3)	—	55
Total	92	513

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⁽¹⁾  The weighted average interest rate was 3.0% and 3.3% as of September 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 September 30, 2016		As of December 31, 2015
	(In $ millions)
Long-Term Debt
Senior credit facilities - Term C-2 loan due 2016(1)	—		30
Senior credit facilities - Term C-3 loan due 2018(2)	—		878
Senior unsecured term loan due 2021(3)	500		—
Senior unsecured notes due 2019, interest rate of 3.250%	335		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
Senior unsecured notes due 2023, interest rate of 1.125%	835		—
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	224		238
Subtotal	2,964		2,542
Unamortized debt issuance costs(4)	(22	)	(18	)
Current installments of long-term debt	(19	)	(56	)
Total	2,923		2,468

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⁽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⁾  The margin for borrowings under the senior unsecured term loan due 2021 was 1.5% above LIBOR.

⁽⁴⁾  Related to the Company's long-term debt, excluding obligations under capital leases.

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 September 30, 2016
	(In $ millions)
Accounts Receivable Securitization Facility
Borrowings outstanding(1)	—
Letters of credit issued	52
Available for borrowing	53
Total borrowing base	105
Maximum borrowing base(2)	120

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

⁽²⁾  Outstanding accounts receivable transferred to the SPE was $154 million.

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 senior unsecured revolving credit facility are as follows:

	As of September 30, 2016
	(In $ millions)
Revolving Credit Facility
Borrowings outstanding(1)	—
Letters of credit issued	—
Available for borrowing(2)	1,000

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⁽¹⁾  The Company borrowed $409 million and repaid $411 million under its new senior unsecured revolving credit facility during the three months ended September 30, 2016. The Company borrowed $245 million and repaid $595 million under its previous secured revolving credit facility during the nine months endedSeptember 30, 2016.

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