XML 61 R43.htm IDEA: XBRL DOCUMENT v3.22.0.1
Debt (Tables)
12 Months Ended
Dec. 31, 2021
Line of Credit Facility [Line Items]  
Schedule of Short-term Debt
As of December 31,
20212020
(In $ millions)
Short-Term Borrowings and Current Installments of Long-Term Debt - Third Party and Affiliates
Current installments of long-term debt527 431 
Short-term borrowings, including amounts due to affiliates(1)
64 65 
Revolving credit facility(2)
200 — 
Total791 496 
______________________________
(1)The weighted average interest rate was 0.2% and 0.6% as of December 31, 2021 and 2020, 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 1.4% and 0.0% as of December 31, 2021 and 2020, respectively.
Schedule of Long-term Debt
As of December 31,
20212020
(In $ millions)
Long-Term Debt
Senior unsecured notes due 2021, interest rate of 5.875%
— 400 
Senior unsecured notes due 2022, interest rate of 4.625%
500 500 
Senior unsecured notes due 2023, interest rate of 1.125%
509 919 
Senior unsecured notes due 2024, interest rate of 3.500%
499 499 
Senior unsecured notes due 2025, interest rate of 1.250%
339 368 
Senior unsecured notes due 2026, interest rate of 1.400%
400 — 
Senior unsecured notes due 2027, interest rate of 2.125%
564 610 
Senior unsecured notes due 2028, interest rate of 0.625%
566 — 
Pollution control and industrial revenue bonds due at various dates through 2030, interest rates ranging from 4.05% to 5.00%
166 166 
Bank loans due at various dates through 2026(1)
Obligations under finance leases due at various dates through 2054173 201 
Subtotal3,722 3,671 
Unamortized debt issuance costs(2)
(19)(13)
Current installments of long-term debt(527)(431)
Total3,176 3,227 
______________________________
(1)The weighted average interest rate was 1.3% and 1.3% as of December 31, 2021 and 2020, 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)
2022791 
2023533 
2024541 
2025425 
2026498 
Thereafter1,198 
Total3,986 
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, 2021
(In $ millions)
Revolving Credit Facility
Borrowings outstanding(1)
200 
Available for borrowing(2)
1,050 
______________________________
(1)The Company borrowed $850 million and repaid $650 million under its senior unsecured revolving credit facility during the year ended December 31, 2021.
(2)The margin for borrowings under the senior unsecured revolving credit facility was 1.25% above LIBOR or EURIBOR at current Company credit ratings.