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Debt (Tables)
 6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
Schedule of Short-term Debt
As of
June 30,
2022		As of
December 31,
2021
(In $ millions)
Short-Term Borrowings and Current Installments of Long-Term Debt - Third Party and Affiliates
Current installments of long-term debt525 527 
Short-term borrowings, including amounts due to affiliates(1)
39 64 
Revolving credit facility(2)
245 200 
Total809 791 
______________________________
(1)The weighted average interest rate was 0.2% and 0.2% as of June 30, 2022 and December 31, 2021, respectively.
(2)The weighted average interest rate was 3.0% and 1.4% as of June 30, 2022 and December 31, 2021, respectively.
Schedule of Long-term Debt
As of
June 30,
2022		As of
December 31,
2021
(In $ millions)
Long-Term Debt
Senior unsecured notes due 2022, interest rate of 4.625%
500 500 
Senior unsecured notes due 2023, interest rate of 1.125%
467 509 
Senior unsecured notes due 2024, interest rate of 3.500%
499 499 
Senior unsecured notes due 2025, interest rate of 1.250%
311 339 
Senior unsecured notes due 2026, interest rate of 1.400%
400 400 
Senior unsecured notes due 2027, interest rate of 2.125%
517 564 
Senior unsecured notes due 2028, interest rate of 0.625%
519 566 
Pollution control and industrial revenue bonds due at various dates through 2030, interest rates ranging from 4.05% to 5.00%
164 166 
Bank loans due at various dates through 2026(1)
5 6 
Obligations under finance leases due at various dates through 2054
180 173 
Subtotal3,562 3,722 
Unamortized debt issuance costs(2)
(15)(19)
Current installments of long-term debt(525)(527)
Total3,022 3,176 
______________________________
(1)The weighted average interest rate was 1.3% and 1.3% as of June 30, 2022 and December 31, 2021, respectively.
(2)Related to the Company's long-term debt, excluding obligations under finance leases.
Schedule of Balances Available for Borrowing
The Company's debt balances and amounts available for borrowing under its new senior unsecured revolving credit facility are as follows:
As of
June 30,
2022
(In $ millions)
Revolving Credit Facility
Borrowings outstanding(1)
245 
Available for borrowing(2)
1,505 
______________________________
(1)The Company borrowed $365 million under its new senior unsecured revolving credit facility to repay and terminate its previous unsecured revolving credit facility and repaid $120 million under its new senior unsecured revolving credit facility during the six months ended June 30, 2022. The Company borrowed $165 million and repaid $365 million under its previous unsecured revolving credit facility during the three months ended March 31, 2022.
(2)The margin for borrowings under the senior unsecured revolving credit facility was 1.00% to 2.00% above certain interbank rates at current Company credit ratings.