Fair Value Measurements (Tables)

9 Months Ended

Sep. 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 September 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	—	3		3		Current Other assets
Total assets	—	4		4
Designated as Net Investment Hedges
Foreign currency denominated debt⁽¹⁾	—	—		—		Long-term debt
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	—	(1	)	(1	)	Current Other liabilities
Total liabilities	—	(1	)	(1	)
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
Foreign currency denominated debt⁽¹⁾	—	—		—		Long-term debt
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	—	(2	)	(2	)	Current Other liabilities
Total liabilities	—	(2	)	(2	)

______________________________


⁽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 September 30, 2016
Cost investments	148	—	—	—
Insurance contracts in nonqualified trusts	49	49	—	49
Long-term debt, including current installments of long-term debt	2,964	2,910	224	3,134
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