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Debt (Tables)
3 Months Ended
Mar. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Short-term Debt
As of
March 31,
2023
As of
December 31,
2022
(In $ millions)
Short-Term Borrowings and Current Installments of Long-Term Debt - Third Party and Affiliates
Current installments of long-term debt551 506 
Short-term borrowings, including amounts due to affiliates(1)
617 500 
Revolving credit facilities(2)
218 300 
Total1,386 1,306 
______________________________
(1)The weighted average interest rate was 5.6% and 5.8% as of March 31, 2023 and December 31, 2022, respectively.
(2)The weighted average interest rate was 3.4% and 5.8% as of March 31, 2023 and December 31, 2022, respectively.
Schedule of Long-term Debt
As of
March 31,
2023
As of
December 31,
2022
(In $ millions)
Long-Term Debt
Senior unsecured notes due 2023, interest rate of 1.125%
489 480 
Senior unsecured notes due 2024, interest rate of 3.500%
499 499 
Senior unsecured notes due 2024, interest rate of 5.900%
2,000 2,000 
Senior unsecured notes due 2025, interest rate of 1.250%
326 320 
Senior unsecured notes due 2025, interest rate of 6.050%
1,750 1,750 
Senior unsecured term loan due 2025, interest rate of 6.265%
750 750 
Senior unsecured notes due 2026, interest rate of 1.400%
400 400 
Senior unsecured notes due 2026, interest rate of 4.777%
1,088 1,067 
Senior unsecured notes due 2027, interest rate of 2.125%
542 531 
Senior unsecured notes due 2027, interest rate of 6.165%
2,000 2,000 
Senior unsecured term loan due 2027, interest rate of 6.265%
1,000 1,000 
Senior unsecured notes due 2028, interest rate of 0.625%
543 533 
Senior unsecured notes due 2029, interest rate of 5.337%
544 533 
Senior unsecured notes due 2029, interest rate of 6.330%
750 750 
Senior unsecured notes due 2032, interest rate of 6.379%
1,000 1,000 
Pollution control and industrial revenue bonds due at various dates through 2030, interest rates ranging from 4.05% to 5.00%
163 164 
Bank loans due at various dates through 2026(1)
Obligations under finance leases due at various dates through 2054
169 172 
Subtotal14,017 13,953 
Unamortized debt issuance costs(2)
(70)(74)
Current installments of long-term debt(551)(506)
Total13,396 13,373 
______________________________
(1)The weighted average interest rate was 1.3% and 1.3% as of March 31, 2023 and December 31, 2022, 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 facilities are as follows:
As of
March 31,
2023
(In $ millions)
U.S. Revolving Credit Facility
Borrowings outstanding— 
Available for borrowing1,750 
China Revolving Credit Facility
Borrowings outstanding218 
Available for borrowing37