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Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2021
Derivative [Line Items]  
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)
Three Months Ended March 31, Statement of Operations Classification
2021202020212020
(In $ millions)
Designated as Cash Flow Hedges
Commodity swaps11 — — — Cost of sales
Interest rate swaps33 (51)— — Interest expense
Total44 (51)— — 
Designated as Net Investment Hedges
Foreign currency denominated debt (Note 8)
50 37 — — N/A
Cross-currency swaps(6)30 — — N/A
Total44 67 — — 
Not Designated as Hedges
Foreign currency forwards and swaps
— — 3 19 Foreign exchange gain (loss), net; Other income (expense), net
Total— — 3 19 
Offsetting Assets
Information regarding the gross amounts of the Company's derivative instruments and the amounts offset in the unaudited consolidated balance sheets is as follows:
As of
March 31,
2021		As of
December 31,
2020
(In $ millions)
Derivative Assets
Gross amount recognized38 26 
Gross amount offset in the consolidated balance sheets1 2 
Net amount presented in the consolidated balance sheets37 24 
Gross amount not offset in the consolidated balance sheets8 11 
Net amount29 13 
Offsetting Liabilities
As of
March 31,
2021		As of
December 31,
2020
(In $ millions)
Derivative Liabilities
Gross amount recognized67 123 
Gross amount offset in the consolidated balance sheets1 2 
Net amount presented in the consolidated balance sheets66 121 
Gross amount not offset in the consolidated balance sheets8 11 
Net amount58 110 
Net Investment Hedging [Member]  
Derivative [Line Items]  
Schedule of Notional Amounts of Derivative and Nonderivative Instruments
The total notional amount of foreign currency denominated debt and cross-currency swaps designated as net investment hedges are as follows:
As of
March 31,
2021		As of
December 31,
2020
(In € millions)
Total1,358 1,358 
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]  
Derivative [Line Items]  
Schedule of Notional Amounts of Derivative and Nonderivative Instruments
The total notional amount of the forward-starting interest rate swap designated as a cash flow hedge is as follows:
As of
March 31,
2021		As of
December 31,
2020
(In $ millions)
Total400 400 
Not Designated as Hedging Instrument [Member]  
Derivative [Line Items]  
Schedule of Notional Amounts of Derivative and Nonderivative Instruments
Gross notional values of the foreign currency forwards and swaps not designated as hedges are as follows:
As of
March 31,
2021		As of
December 31,
2020
(In $ millions)
Total503 546