Debt (Tables)

3 Months Ended

Mar. 31, 2017

Line of Credit Facility [Line Items]

Schedule of Short-term Debt

	As of March 31, 2017	As of December 31, 2016
	(In $ millions)
Short-Term Borrowings and Current Installments of Long-Term Debt - Third Party and Affiliates
Current installments of long-term debt	34	27
Short-term borrowings, including amounts due to affiliates(1)	73	68
Short-term SOFTER bank loans (Note 3)(2)	—	23
Total	107	118

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⁽¹⁾  The weighted average interest rate was 2.9% and 3.1% as of March 31, 2017 and December 31, 2016, respectively.

⁽²⁾  The weighted average interest rate was 1.2% as of December 31, 2016.

Schedule of Long-term Debt

	As of March 31, 2017		As of December 31, 2016
	(In $ millions)
Long-Term Debt
Senior unsecured term loan due 2021(1)	500		500
Senior unsecured notes due 2019, interest rate of 3.250%	321		316
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%	800		788
Pollution control and industrial revenue bonds due at various dates through 2030, interest rates ranging from 4.05% to 5.00%	169		170
SOFTER bank loans due at various dates through 2021 (Note 3)(2)	—		47
Obligations under capital leases due at various dates through 2054	215		217
Subtotal	2,905		2,938
Unamortized debt issuance costs(3)	(20	)	(21	)
Current installments of long-term debt	(34	)	(27	)
Total	2,851		2,890

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⁽¹⁾  The margin for borrowings under the senior unsecured term loan due 2021 was 1.5% above LIBOR at current Company credit ratings.

⁽²⁾  The weighted average interest rate was 1.6% as of December 31, 2016.

⁽³⁾  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 March 31, 2017
	(In $ millions)
Accounts Receivable Securitization Facility
Borrowings outstanding	—
Letters of credit issued	45
Available for borrowing	58
Total borrowing base	103
Maximum borrowing base(1)	120

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⁽¹⁾  Outstanding accounts receivable transferred to the SPE was $173 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 March 31, 2017
	(In $ millions)
Revolving Credit Facility
Borrowings outstanding	—
Letters of credit issued	—
Available for borrowing(1)	1,000

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⁽¹⁾  The margin for borrowings under the senior unsecured revolving credit facility was 1.5% above LIBOR