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Debt (Tables)
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9 Months Ended |
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Sep. 30, 2014
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| Debt Disclosure [Abstract] |
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| Schedule of Short-term Debt |
| | | | | | | | As of
September 30,
2014 | | As of
December 31,
2013 | | (In $ millions) | Short-Term Borrowings and Current Installments of Long-Term Debt - Third Party and Affiliates | | | | Current installments of long-term debt | 625 |
| | 24 |
| Short-term borrowings, including amounts due to affiliates(1) | 105 |
| | 103 |
| Accounts receivable securitization facility(2) | 35 |
| | 50 |
| Total | 765 |
| | 177 |
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| | (1) | The weighted average interest rate was 3.9% and 4.4% as of September 30, 2014 and December 31, 2013, respectively. |
| | (2) | The weighted average interest rate was 0.7% as of September 30, 2014 and December 31, 2013. |
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| Schedule of Long-term Debt |
| | | | | | | | As of
September 30,
2014 | | As of
December 31,
2013 | | (In $ millions) | Long-Term Debt | | | | Senior credit facilities - Term C-2 loan due 2016 | 35 |
| | 978 |
| Senior credit facilities - Term C-3 loan due 2018 | 914 |
| | — |
| Senior unsecured notes due 2018, interest rate of 6.625% | 600 |
| | 600 |
| Senior unsecured notes due 2019, interest rate of 3.250% | 378 |
| | — |
| Senior unsecured notes due 2021, interest rate of 5.875% | 400 |
| | 400 |
| Senior unsecured notes due 2022, interest rate of 4.625% | 500 |
| | 500 |
| Pollution control and industrial revenue bonds due at various dates through 2030, interest rates ranging from 5.7% to 6.7% | 169 |
| | 169 |
| Obligations under capital leases due at various dates through 2054 | 268 |
| | 264 |
| Subtotal | 3,264 |
| | 2,911 |
| Current installments of long-term debt | (625 | ) | | (24 | ) | Total | 2,639 |
| | 2,887 |
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| Schedule of First Lien Senior Secured Leverage Ratios |
The Company's amended first lien senior secured leverage ratios under the revolving credit facility are as follows: | | | | | | As of September 30, 2014 | Maximum | | Estimate | | Estimate, If Fully Drawn | 3.90 | | 0.67 | | 1.27 |
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| Schedule of Balances Available for Borrowing |
The Company's balances available for borrowing are as follows: | | | | | As of
September 30,
2014 | | (In $ millions) | Revolving Credit Facility | |
| Borrowings outstanding | — |
| Letters of credit issued | — |
| Available for borrowing | 900 |
| Accounts Receivable Securitization Facility | | Borrowings outstanding | 35 |
| Letters of credit issued | 79 |
| Available for borrowing | 21 |
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