Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Derivative [Line Items]

Schedule of Notional Amounts of Net Foreign Exchange Exposure by Currency

The total US dollar equivalents of net foreign exchange exposure related to (short) long foreign exchange forward contracts outstanding by currency are as follows:

	2021 Maturity
	(In $ millions)
Currency
Brazilian real	(13)
British pound sterling	(91)
Canadian dollar	(8)
Chinese yuan	(117)
Euro	(19)
Hungarian forint	13
Indonesian rupiah	(7)
Korean won	13
Mexican peso	(28)
Singapore dollar	21
Swedish krona	(11)
Swiss franc	(24)
Total	(271)

Schedule of Derivatives Instruments Activity

Hedging activity for foreign currency forwards, commodity swaps and interest rate swaps is as follows:

	Year Ended December 31,			Statement of Operations Classification
	2020	2019	2018
	(In $ millions)
Hedging activities	(5)	2	1	Cost of sales; Interest expense

Schedule of Changes in Fair Value of Derivatives

Information regarding changes in the fair value of the Company's derivative and non-derivative instruments is as follows:

	Gain (Loss) Recognized in Other Comprehensive Income (Loss)			Gain (Loss) Recognized in Earnings (Loss)			Statement of Operations Classification
	Year Ended December 31,			Year Ended December 31,
	2020	2019	2018	2020	2019	2018
	(In $ millions)
Designated as Cash Flow Hedges
Commodity swaps	13	(5)	(2)	(4)	2	1	Cost of sales
Interest rate swaps	(41)	(30)	(10)	—	—	—	Interest expense
Foreign currency forwards	(1)	—	1	(1)	—	—	Cost of sales
Total	(29)	(35)	(11)	(5)	2	1
Designated as Net Investment Hedges
Foreign currency denominated debt (Note 12)	(81)	37	51	—	—	—	N/A
Cross-currency swaps (Note 12)	(26)	3	—	—	—	—	N/A
Total	(107)	40	51	—	—	—
Not Designated as Hedges
Foreign currency forwards and swaps	—	—	—	(8)	(3)	13	Foreign exchange gain (loss), net; Other income (expense), net
Total	—	—	—	(8)	(3)	13

Offsetting Assets

Information regarding the gross amounts of the Company's derivative instruments and the amounts offset in the consolidated balance sheets is as follows:

	As of December 31,
	2020	2019
	(In $ millions)
Derivative Assets
Gross amount recognized	26	16
Gross amount offset in the consolidated balance sheets	2	1
Net amount presented in the consolidated balance sheets	24	15
Gross amount not offset in the consolidated balance sheets	11	8
Net amount	13	7

Offsetting Liabilities

	As of December 31,
	2020	2019
	(In $ millions)
Derivative Liabilities
Gross amount recognized	123	59
Gross amount offset in the consolidated balance sheets	2	1
Net amount presented in the consolidated balance sheets	121	58
Gross amount not offset in the consolidated balance sheets	11	8
Net amount	110	50

Foreign Exchange Forward [Member]

Derivative [Line Items]

Schedule of Notional Amounts of Foreign Currency Derivatives

Gross notional values of the foreign currency forwards and swaps are as follows:

	As of December 31,
	2020	2019
	(In $ millions)
Total	546	692

Foreign Currency Denominated Debt [Member] | Net Investment Hedging [Member]

Derivative [Line Items]

Schedule of Notional Amounts of Foreign Currency Derivatives

The total notional amount of foreign currency denominated debt designated as a net investment hedge of net investments in foreign operations are as follows:

	As of December 31,
	2020	2019
	(In € millions)
Total	1,358	1,578

Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]

Derivative [Line Items]

Schedule of Notional Amounts of Foreign Currency Derivatives

The total notional amount of the forward-starting interest rate swap designated as a cash flow hedge is as follows:

	As of December 31,
	2020	2019
	(In $ millions)
Total	400	400