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Debt (Tables)
 12 Months Ended
Dec. 31, 2020
Line of Credit Facility [Line Items]  
Schedule of Short-term Debt
As of December 31,
20202019
(In $ millions)
Short-Term Borrowings and Current Installments of Long-Term Debt - Third Party and Affiliates
Current installments of long-term debt431 28 
Short-term borrowings, including amounts due to affiliates(1)
65 81 
Revolving credit facility(2)
— 272 
Accounts receivable securitization facility(3)
— 115 
Total496 496 
______________________________
(1)The weighted average interest rate was 0.6% and 2.3% as of December 31, 2020 and 2019, respectively. During the year ended December 31, 2020, the Company entered into an aggregate of $300 million in short-term, bilateral term loans, which were repaid during the same period.
(2)The weighted average interest rate was 0.0% and 1.6% as of December 31, 2020 and 2019, respectively.
(3)The weighted average interest rate was 0.0% and 2.4% as of December 31, 2020 and 2019, respectively.
Schedule of Long-term Debt
As of December 31,
20202019
(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%
919 841 
Senior unsecured notes due 2024, interest rate of 3.500%
499 499 
Senior unsecured notes due 2025, interest rate of 1.250%
368 337 
Senior unsecured notes due 2027, interest rate of 2.125%
610 558 
Pollution control and industrial revenue bonds due at various dates through 2030, interest rates ranging from 4.05% to 5.00%
166 167 
Bank loans due at various dates through 2026(1)
8 9 
Obligations under finance leases due at various dates through 2054201 144 
Subtotal3,671 3,455 
Unamortized debt issuance costs(2)
(13)(18)
Current installments of long-term debt(431)(28)
Total3,227 3,409 
______________________________
(1)The weighted average interest rate was 1.3% and 1.3% as of December 31, 2020 and 2019, 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)
2021496 
2022527 
2023943 
2024541 
2025453 
Thereafter776 
Total3,736 
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, 2020
(In $ millions)
Revolving Credit Facility
Borrowings outstanding(1)
— 
Available for borrowing(2)
1,250 
______________________________
(1)The Company borrowed $685 million and repaid $963 million under its senior unsecured revolving credit facility during the year ended December 31, 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.