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Debt (Tables)
 6 Months Ended
Jun. 30, 2020
Line of Credit Facility [Line Items]  
Schedule of Short-term Debt
 
As of
June 30,
2020
 
As of
December 31,
2019
 
(In $ millions)
Short-Term Borrowings and Current Installments of Long-Term Debt - Third Party and Affiliates
 
 
 
Current installments of long-term debt
427

 
28

Short-term borrowings, including amounts due to affiliates(1)
377

 
81

Revolving credit facility(2)
154

 
272

Accounts receivable securitization facility(3)
87

 
115

Total
1,045

 
496

______________________________
(1) 
The weighted average interest rate was 1.2% and 2.3% as of June 30, 2020 and December 31, 2019, respectively. During the six months ended June 30, 2020, the Company entered into an aggregate of $300 million in short-term, bilateral term loans.
(2) 
The weighted average interest rate was 1.5% and 1.6% as of June 30, 2020 and December 31, 2019, respectively.
(3) 
The weighted average interest rate was 0.9% and 2.4% as of June 30, 2020 and December 31, 2019, respectively.
Schedule of Long-term Debt
 
As of
June 30,
2020
 
As of
December 31,
2019
 
(In $ millions)
Long-Term Debt
 
 
 
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%
839

 
841

Senior unsecured notes due 2024, interest rate of 3.500%
499

 
499

Senior unsecured notes due 2025, interest rate of 1.250%
336

 
337

Senior unsecured notes due 2027, interest rate of 2.125%
556

 
558

Pollution control and industrial revenue bonds due at various dates through 2030, interest rates ranging from 4.05% to 5.00%
167

 
167

Bank loans due at various dates through 2026(1)
8

 
9

Obligations under finance leases due at various dates through 2054
128

 
144

Subtotal
3,433

 
3,455

Unamortized debt issuance costs(2)
(17
)
 
(18
)
Current installments of long-term debt
(427
)
 
(28
)
Total
2,989

 
3,409

______________________________
(1) 
The weighted average interest rate was 1.3% and 1.3% as of June 30, 2020 and December 31, 2019, respectively.
(2) 
Related to the Company's long-term debt, excluding obligations under finance 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,
2020
 
(In $ millions)
Accounts Receivable Securitization Facility
 
Borrowings outstanding(1)
87

Available for borrowing
5

Total borrowing base
92

 
 
Maximum borrowing base(2)
120

______________________________
(1) 
The Company repaid $28 million under its US accounts receivable securitization facility during the six months ended June 30, 2020.
(2) 
Outstanding accounts receivable transferred to the SPE was $117 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,
2020
 
(In $ millions)
Revolving Credit Facility
 
Borrowings outstanding(1)
154

Available for borrowing(2)
1,096

______________________________
(1) 
The Company borrowed $385 million and repaid $503 million under its senior unsecured revolving credit facility during the six months ended June 30, 2020.
(2) 
The margin for borrowings under the senior unsecured revolving credit facility was 1.5% above LIBOR or EURIBOR at current Company credit ratings