Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Short-term Debt

	As of December 31,
	2022	2021
	(In $ millions)
Short-Term Borrowings and Current Installments of Long-Term Debt - Third Party and Affiliates
Current installments of long-term debt	506	527
Short-term borrowings, including amounts due to affiliates(1)	500	64
Revolving credit facility(2)	300	200
Total	1,306	791

______________________________

(1)The weighted average interest rate was 5.8% and 0.2% as of December 31, 2022 and 2021, respectively.

(2)The weighted average interest rate was 5.8% and 1.4% as of December 31, 2022 and 2021, respectively.

Schedule of Long-term Debt

	As of December 31,
	2022	2021
	(In $ millions)
Long-Term Debt
Senior unsecured notes due 2022, interest rate of 4.625%	—	500
Senior unsecured notes due 2023, interest rate of 1.125%	480	509
Senior unsecured notes due 2024, interest rate of 3.500%	499	499
Senior unsecured notes due 2024, interest rate of 5.900%	2,000	—
Senior unsecured notes due 2025, interest rate of 1.250%	320	339
Senior unsecured notes due 2025, interest rate of 6.050%	1,750	—
Senior unsecured term loan due 2025, interest rate of 5.934%	750	—
Senior unsecured notes due 2026, interest rate of 1.400%	400	400
Senior unsecured notes due 2026, interest rate of 4.777%	1,067	—
Senior unsecured notes due 2027, interest rate of 2.125%	531	564
Senior unsecured notes due 2027, interest rate of 6.165%	2,000	—
Senior unsecured term loan due 2027, interest rate of 5.934%	1,000	—
Senior unsecured notes due 2028, interest rate of 0.625%	533	566
Senior unsecured notes due 2029, interest rate of 5.337%	533	—
Senior unsecured notes due 2029, interest rate of 6.330%	750	—
Senior unsecured notes due 2032, interest rate of 6.379%	1,000	—
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)	4	6
Obligations under finance leases due at various dates through 2054	172	173
Subtotal	13,953	3,722
Unamortized debt issuance costs(2)	(74)	(19)
Current installments of long-term debt	(506)	(527)
Total	13,373	3,176

______________________________

(1)The weighted average interest rate was 1.3% and 1.3% as of December 31, 2022 and 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 senior unsecured revolving credit facility are as follows:

	As of December 31, 2022
	(In $ millions)
Revolving Credit Facility
Borrowings outstanding(1)	300
Available for borrowing(2)	1,450

______________________________

(1)The Company borrowed $765 million and repaid $465 million under its new senior unsecured revolving credit facility during the year ended December 31, 2022. The Company borrowed $165 million and repaid $365 million under its previous unsecured revolving credit facility during the year ended December 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.

Schedule of Principle Payments

Principal payments scheduled to be made on the Company's debt, including short-term borrowings, are as follows:

	(In $ millions)
2023	1,306
2024	2,544
2025	2,908
2026	1,566
2027	3,550
Thereafter	2,879
Total	14,753