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Financial income and expenses
 12 Months Ended
Dec. 31, 2019
Analysis of income and expense [abstract]  
Financial income and expenses
Financial income and expenses
 
 
For the year ended December 31,
(In $ million)
 
2019
 
2018
 
2017
Interest income
 
14

 
5

 
3

Interest income on related party loans (refer to note 21)
 
15

 
17

 
17

Net gain in fair value of derivatives(a)
 
116

 
—

 
29

Net foreign currency exchange gain
 
—

 
19

 
—

Financial income
 
145

 
41

 
49

Interest expense:
 
 
 
 
 
 
Securitization Facility
 
(17
)
 
(16
)
 
(13
)
Credit Agreement
 
(174
)
 
(166
)
 
(146
)
Reynolds Notes:
 
 
 
 
 
 
5.750% Senior Secured Notes due 2020
 
(180
)
 
(180
)
 
(186
)
6.875% Senior Secured Notes due 2021
 
(21
)
 
(26
)
 
(44
)
Floating Rate Senior Secured Notes due 2021
 
(35
)
 
(35
)
 
(35
)
5.125% Senior Secured Notes due 2023
 
(82
)
 
(82
)
 
(82
)
8.250% Senior Notes due 2021
 
—

 
—

 
(4
)
7.000% Senior Notes due 2024
 
(56
)
 
(56
)
 
(56
)
Pactiv Notes:
 
 
 
 
 
 
8.125% Debentures due 2017
 
—

 
—

 
(11
)
6.400% Notes due 2018
 
—

 
—

 
(1
)
7.950% Debentures due 2025
 
(22
)
 
(22
)
 
(22
)
8.375% Debentures due 2027
 
(17
)
 
(17
)
 
(17
)
Lease liabilities
 
(27
)
 
—

 
—

Amortization of:
 
 
 
 
 
 
Transaction costs
 
(17
)
 
(16
)
 
(17
)
Fair value adjustment of acquired notes
 
—

 
(1
)
 
1

Embedded derivatives
 
7

 
6

 
7

Net loss in fair value of derivatives(a)
 
—

 
(245
)
 
—

Net foreign currency exchange loss
 
(5
)
 
—

 
(36
)
Loss on extinguishment of debt(b)(c)
 
—

 
(3
)
 
(67
)
Other
 
(5
)
 
(6
)
 
(10
)
Financial expenses
 
(651
)
 
(865
)
 
(739
)
Net financial income (expenses)
 
(506
)
 
(824
)
 
(690
)

(a)
Refer to note 20.6 for information regarding changes in the valuation model used to value the embedded derivatives.

(b)
The 2018 loss on extinguishment of debt included $3 million of redemption premiums related to the repayment of the 6.875% Senior Secured Notes due 2021.

(c)
The 2017 loss on extinguishment of debt included $56 million related to the write-off of unamortized transaction costs and embedded derivatives arising from the repurchase of the 8.250% Senior Notes, the Credit Agreement refinancing and the Securitization Facility refinancing as well as $11 million of redemption premiums related to the repurchase of the 8.250% Senior Notes and 5.750% Senior Secured Notes due 2020.

Refer to note 16 for information on the Group's borrowings.