Other current liabilities

12 Months Ended

Dec. 31, 2012

Other current liabilities [Abstract]

Other current liabilities

Note 23 – Other current liabilities

Other current liabilities are comprised of the following:

(In US$ millions)	December 31, 2012		December 31, 2011
Taxes payable		322		309
Employee withheld taxes, social security and vacation payment		83		95
Accrued interest expense		54		30
Liabilities relating to investment in shares (1)		5		-
Deferred mobilization revenues – short-term portion		96		115
Derivative financial instruments (2)		397		414
Accrued expenses		341		279
Other current liabilities		40		72
Total other current liabilities		1,338		1,314

(1) Liabilities relating to the Company's share forward contracts are recorded as short-term debt.

(2) Derivative financial instruments consist of unrealized losses on various types of derivatives.