Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

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

	Fair Value Measurement
	Significant Other Observable Inputs (Level 2)	Balance Sheet Classification
	(In $ millions)
As of June 30, 2023
Derivatives Designated as Cash Flow Hedges
Commodity swaps	6	Current Other assets
Commodity swaps	34	Noncurrent Other assets
Foreign currency forwards and swaps	4	Current Other assets
Derivatives Designated as Net Investment Hedges
Cross-currency swaps	101	Current Other assets
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	11	Current Other assets
Total assets	156
Derivatives Designated as Net Investment Hedges
Cross-currency swaps	(60)	Current Other liabilities
Cross-currency swaps	(207)	Noncurrent Other liabilities
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	(4)	Current Other liabilities
Foreign currency forwards and swaps	(8)	Noncurrent Other liabilities
Total liabilities	(279)

	Fair Value Measurement
	Significant Other Observable Inputs (Level 2)	Balance Sheet Classification
	(In $ millions)
As of December 31, 2022
Derivatives Designated as Cash Flow Hedges
Commodity swaps	9	Current Other assets
Commodity swaps	39	Noncurrent Other assets
Derivatives Designated as Net Investment Hedges
Cross-currency swaps	99	Current Other assets
Cross-currency swaps	13	Noncurrent Other assets
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	9	Current Other assets
Total assets	169
Derivatives Designated as Cash Flow Hedges
Commodity swaps	(2)	Current Other liabilities
Derivatives Designated as Net Investment Hedges
Cross-currency swaps	(58)	Current Other liabilities
Cross-currency swaps	(126)	Noncurrent Other liabilities
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	(3)	Current Other liabilities
Total liabilities	(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 June 30, 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	14,003	13,650	157	13,807
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