Debt (Tables)

12 Months Ended

Dec. 31, 2019

Line of Credit Facility [Line Items]

Schedule of Short-term Debt

	As of December 31,
	2019	2018
	(In $ millions)
Short-Term Borrowings and Current Installments of Long-Term Debt - Third Party and Affiliates
Current installments of long-term debt	28	367
Short-term borrowings, including amounts due to affiliates(1)	81	77
Revolving credit facility(2)	272	40
Accounts receivable securitization facility(3)	115	77
Total	496	561

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⁽¹⁾  The weighted average interest rate was 2.3% and 3.2% as of December 31, 2019 and 2018, respectively.

⁽²⁾  The weighted average interest rate was 1.6% and 6.0% as of December 31, 2019 and 2018, respectively.

⁽³⁾ 

The weighted average interest rate was 2.4% and 3.1% as of December 31, 2019 and 2018, respectively.

Schedule of Long-term Debt

	As of December 31,
	2019		2018
	(In $ millions)
Long-Term Debt
Senior unsecured notes due 2019, interest rate of 3.250%	—		343
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%	841		857
Senior unsecured notes due 2024, interest rate of 3.500%	499		—
Senior unsecured notes due 2025, interest rate of 1.250%	337		343
Senior unsecured notes due 2027, interest rate of 2.125%	558		568
Pollution control and industrial revenue bonds due at various dates through 2030, interest rates ranging from 4.05% to 5.00%	167		167
Nilit Group ("Nilit") bank loans due at various dates through 2026(1)	9		10
Obligations under finance leases due at various dates through 2054	144		167
Subtotal	3,455		3,355
Unamortized debt issuance costs(2)	(18	)	(18	)
Current installments of long-term debt	(28	)	(367	)
Total	3,409		2,970

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⁽¹⁾  The weighted average interest rate was 1.3% and 1.3% as of December 31, 2019 and 2018, respectively.

⁽²⁾ 

Related to the Company's long-term debt, excluding obligations under finance leases.

Schedule of Principle Payments

Principal payments scheduled to be made on the Company's debt, including short-term borrowings, are as follows:

	(In $ millions)
2020	496
2021	429
2022	525
2023	859
2024	533
Thereafter	1,081
Total	3,923

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 December 31, 2019
	(In $ millions)
Accounts Receivable Securitization Facility
Borrowings outstanding(1)	115
Letters of credit issued	—
Available for borrowing	5
Total borrowing base	120
Maximum borrowing base(2)	120

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⁽¹⁾  The Company borrowed $112 million and repaid $74 million under this facility during the year ended December 31, 2019.

⁽²⁾ 

Outstanding accounts receivable transferred to the SPE was $161 million.

Senior Unsecured 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 December 31, 2019
	(In $ millions)
Revolving Credit Facility
Borrowings outstanding(1)	272
Letters of credit issued	—
Available for borrowing(2)	978

______________________________

⁽¹⁾  The Company borrowed $1.3 billion and repaid $1.1 billion under its senior unsecured revolving credit facility during the year ended December 31, 2019.

⁽²⁾ 

The margin for borrowings under the senior unsecured revolving credit facility was 1.25% above LIBOR or EURIBOR at current Company credit ratings.