Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Derivative [Line Items]

Schedule of Notional Amounts of Net Foreign Exchange Exposure by Currency

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

	2022 Maturity
	(In $ millions)
Currency
Brazilian real	(24)
British pound sterling	(31)
Canadian dollar	21
Chinese yuan	(13)
Euro	120
Hungarian forint	13
Indonesian rupiah	(5)
Japanese yen	(11)
Korean won	15
Mexican peso	(43)
Singapore dollar	49
Swedish krona	(10)
Swiss franc	10
Total	91

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
	2021	2020	2019
	(In $ millions)
Hedging activities	—	(5)	2	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,
	2021	2020	2019	2021	2020	2019
	(In $ millions)
Designated as Cash Flow Hedges
Commodity swaps	25	13	(5)	3	(4)	2	Cost of sales
Interest rate swaps	10	(41)	(30)	(3)	—	—	Interest expense
Foreign currency forwards	(1)	(1)	—	—	(1)	—	Cost of sales
Total	34	(29)	(35)	—	(5)	2
Designated as Net Investment Hedges
Foreign currency denominated debt (Note 11)	107	(81)	37	—	—	—	N/A
Cross-currency swaps (Note 11)	27	(26)	3	—	—	—	N/A
Total	134	(107)	40	—	—	—
Not Designated as Hedges
Foreign currency forwards and swaps	—	—	—	(13)	(8)	(3)	Foreign exchange gain (loss), net; Other income (expense), net
Total	—	—	—	(13)	(8)	(3)

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,
	2021	2020
	(In $ millions)
Derivative Assets
Gross amount recognized	40	26
Gross amount offset in the consolidated balance sheets	—	2
Net amount presented in the consolidated balance sheets	40	24
Gross amount not offset in the consolidated balance sheets	2	11
Net amount	38	13

Offsetting Liabilities

	As of December 31,
	2021	2020
	(In $ millions)
Derivative Liabilities
Gross amount recognized	5	123
Gross amount offset in the consolidated balance sheets	—	2
Net amount presented in the consolidated balance sheets	5	121
Gross amount not offset in the consolidated balance sheets	2	11
Net amount	3	110

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,
	2021	2020
	(In $ millions)
Total	663	546

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,
	2021	2020
	(In € millions)
Total	1,653	1,358

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,
	2021	2020
	(In $ millions)
Total	—	400

The Company settled the forward-starting interest rate swap on August 2, 2021, resulting in a payment to the counterparty of $72 million, which payment is included as part of financing activities in the consolidated statements of cash flows.