Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

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 September 30,				Statement of Operations Classification
	2022	2021	2022	2021
	(In $ millions)
Designated as Cash Flow Hedges
Commodity swaps	(9)	10	11	(1)	Cost of sales
Interest rate swaps	—	(7)	(1)	(1)	Interest expense
Foreign currency forwards	2	—	—	—	Cost of sales
Total	(7)	3	10	(2)
Designated as Net Investment Hedges
Foreign currency denominated debt (Note 7)	148	37	—	—	N/A
Cross-currency swaps	90	10	—	—	N/A
Total	238	47	—	—
Not Designated as Hedges
Foreign currency forwards and swaps	—	—	(8)	(2)	Foreign exchange gain (loss), net; Other income (expense), net
Total	—	—	(8)	(2)

	Gain (Loss) Recognized in Other Comprehensive Income (Loss)		Gain (Loss) Recognized in Earnings (Loss)
	Nine Months Ended September 30,				Statement of Operations Classification
	2022	2021	2022	2021
	(In $ millions)
Designated as Cash Flow Hedges
Commodity swaps	50	33	22	(1)	Cost of sales
Interest rate swaps	—	10	(5)	(1)	Interest expense
Foreign currency forwards	2	—	—	—	Cost of sales
Total	52	43	17	(2)
Designated as Net Investment Hedges
Foreign currency denominated debt (Note 7)	269	72	—	—	N/A
Cross-currency swaps	117	21	—	—	N/A
Total	386	93	—	—
Not Designated as Hedges
Foreign currency forwards and swaps	—	—	(12)	(6)	Foreign exchange gain (loss), net; Other income (expense), net
Total	—	—	(12)	(6)

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 September 30, 2022	As of December 31, 2021
	(In $ millions)
Derivative Assets
Gross amount recognized	227	40
Gross amount offset in the consolidated balance sheets	—	—
Net amount presented in the consolidated balance sheets	227	40
Gross amount not offset in the consolidated balance sheets	2	2
Net amount	225	38

Offsetting Liabilities

	As of September 30, 2022	As of December 31, 2021
	(In $ millions)
Derivative Liabilities
Gross amount recognized	36	5
Gross amount offset in the consolidated balance sheets	—	—
Net amount presented in the consolidated balance sheets	36	5
Gross amount not offset in the consolidated balance sheets	2	2
Net amount	34	3

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 September 30, 2022	As of December 31, 2021
	(In € millions)
Total	6,017	1,653

Not Designated as Hedging Instrument

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 September 30, 2022	As of December 31, 2021
	(In $ millions)
Total	686	663