Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

	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 June 30, 2020
Derivatives Designated as Cash Flow Hedges
Commodity swaps	—	1		1		Current Other assets
Designated as Net Investment Hedges
Cross-currency swaps	—	13		13		Current Other assets
Cross-currency swaps	—	15		15		Noncurrent Other assets
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	—	5		5		Current Other assets
Total assets	—	34		34
Derivatives Designated as Cash Flow Hedges
Interest rate swaps	—	(93	)	(93	)	Current Other liabilities
Commodity swaps	—	(1	)	(1	)	Current Other liabilities
Commodity swaps	—	(3	)	(3	)	Noncurrent Other liabilities
Derivatives Designated as Net Investment Hedges
Cross-currency swaps	—	(1	)	(1	)	Current Other liabilities
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	—	(2	)	(2	)	Current Other liabilities
Total liabilities	—	(100	)	(100	)

	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 December 31, 2019
Derivatives Designated as Net Investment Hedges
Cross-currency swaps	—	13		13		Current Other assets
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	—	2		2		Current Other assets
Total assets	—	15		15
Derivatives Designated as Cash Flow Hedges
Interest rate swaps	—	(40	)	(40	)	Noncurrent Other liabilities
Commodity swaps	—	(4	)	(4	)	Current Other liabilities
Commodity swaps	—	(3	)	(3	)	Noncurrent Other liabilities
Derivatives Designated as Net Investment Hedges
Cross-currency swaps	—	(1	)	(1	)	Current Other liabilities
Cross-currency swaps	—	(7	)	(7	)	Noncurrent Other liabilities
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	—	(3	)	(3	)	Current Other liabilities
Total liabilities	—	(58	)	(58	)

Schedule of Carrying Values and Fair Values of Financial Instruments

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 June 30, 2020
Equity investments without readily determinable fair values	170	—	—	—
Insurance contracts in nonqualified trusts	36	36	—	36
Long-term debt, including current installments of long-term debt	3,433	3,380	128	3,508
As of December 31, 2019
Equity investments without readily determinable fair values	170	—	—	—
Insurance contracts in nonqualified trusts	35	35	—	35
Long-term debt, including current installments of long-term debt	3,455	3,456	144	3,600