Debt (Tables)

6 Months Ended

Jun. 30, 2017

Line of Credit Facility [Line Items]

Schedule of Short-term Debt

	As of June 30, 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	43	27
Short-term borrowings, including amounts due to affiliates(1)	70	68
Short-term SOFTER bank loans (Note 3)(2)	—	23
Revolving credit facility(3)	200	—
Accounts receivable securitization facility(4)	71	—
Total	384	118

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⁽¹⁾  The weighted average interest rate was 3.1% and 3.1% as of June 30, 2017 and December 31, 2016, respectively.

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

⁽³⁾  The weighted average interest rate was 2.6% as of June 30, 2017.

⁽⁴⁾  The weighted average interest rate was 1.8% as of June 30, 2017.

Schedule of Long-term Debt

	As of June 30, 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%	342		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%	854		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
Nilit bank loans due at various dates through 2026 (Note 3)(3)	13		—
Obligations under capital leases due at various dates through 2054	215		217
Subtotal	2,993		2,938
Unamortized debt issuance costs(4)	(19	)	(21	)
Current installments of long-term debt	(43	)	(27	)
Total	2,931		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⁾  The weighted average interest rate was 1.4% as of June 30, 2017.

⁽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 June 30, 2017
	(In $ millions)
Accounts Receivable Securitization Facility
Borrowings outstanding(1)	71
Letters of credit issued	39
Available for borrowing	10
Total borrowing base	120
Maximum borrowing base(2)	120

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⁽¹⁾  The Company borrowed $75 million and repaid $4 million under its Accounts Receivable Securitization Facility during the three months ended June 30, 2017.

⁽²⁾  Outstanding accounts receivable transferred to the SPE was $174 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 June 30, 2017
	(In $ millions)
Revolving Credit Facility
Borrowings outstanding(1)	200
Letters of credit issued	—
Available for borrowing(2)	800

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⁽¹⁾  The Company borrowed $250 million and repaid $50 million under its senior unsecured revolving credit facility during the three months ended June 30, 2017.

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