Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

	Fair Value Measurement
	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Total	Balance Sheet Classification
	(In $ millions)
As of March 31, 2023
Derivatives Designated as Cash Flow Hedges
Commodity swaps	—	4	4	Current Other assets
Commodity swaps	—	43	43	Noncurrent Other assets
Foreign currency forwards and swaps	—	1	1	Current Other assets
Derivatives Designated as Net Investment Hedges
Cross-currency swaps	—	67	67	Current Other assets
Cross-currency swaps	—	11	11	Noncurrent Other assets
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	—	12	12	Current Other assets
Total assets	—	138	138
Derivatives Designated as Net Investment Hedges
Cross-currency swaps	—	(29)	(29)	Current Other liabilities
Cross-currency swaps	—	(145)	(145)	Noncurrent Other liabilities
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	—	(10)	(10)	Current Other liabilities
Total liabilities	—	(184)	(184)

	Fair Value Measurement
	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Total	Balance Sheet Classification
	(In $ millions)
As of December 31, 2022
Derivatives Designated as Cash Flow Hedges
Commodity swaps	—	9	9	Current Other assets
Commodity swaps	—	39	39	Noncurrent Other assets
Derivatives Designated as Net Investment Hedges
Cross-currency swaps	—	99	99	Current Other assets
Cross-currency swaps	—	13	13	Noncurrent Other assets
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	—	9	9	Current Other assets
Total assets	—	169	169
Derivatives Designated as Cash Flow Hedges
Commodity swaps	—	(2)	(2)	Current Other liabilities
Derivatives Designated as Net Investment Hedges
Cross-currency swaps	—	(58)	(58)	Current Other liabilities
Cross-currency swaps	—	(126)	(126)	Noncurrent Other liabilities
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	—	(3)	(3)	Current Other liabilities
Total liabilities	—	(189)	(189)

Schedule of Carrying Values and Fair Values of Financial Instruments

Carrying values and fair values of financial instruments that are not carried at fair value are as follows:

		Fair Value Measurement
	Carrying Amount	Significant Other Observable Inputs (Level 2)	Unobservable Inputs (Level 3)	Total
	(In $ millions)
As of March 31, 2023
Equity investments without readily determinable fair values	170	—	—	—
Insurance contracts in nonqualified trusts	21	21	—	21
Long-term debt, including current installments of long-term debt	14,017	13,608	169	13,777
As of December 31, 2022
Equity investments without readily determinable fair values	170	—	—	—
Insurance contracts in nonqualified trusts	22	23	—	23
Long-term debt, including current installments of long-term debt	13,953	13,247	172	13,419