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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2025
Fair Value Disclosures [Abstract] |
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis | The Company's financial assets and liabilities are measured at fair value on a recurring basis as follows: Derivative financial instruments include interest rate swaps, commodity swaps, cross-currency swaps and foreign currency forwards and swaps and are valued in the market using discounted cash flow techniques. These techniques incorporate Level 1 and Level 2 fair value measurement inputs such as interest rates and foreign currency exchange rates. These market inputs are utilized in the discounted cash flow calculation considering the instrument's term, notional amount, discount rate and credit risk. Significant inputs to the derivative valuation for interest rate swaps, commodity swaps, cross-currency swaps and foreign currency forwards and swaps are observable in the active markets and are classified as Level 2 in the fair value measurement hierarchy.
|  | Fair Value Measurement
|  | Significant Other Observable Inputs (Level 2)
|  | Other assets |  |  |  | Other liabilities
| Notional Amount | Current | Noncurrent |  |  |  | Current | Noncurrent
| (In millions) | (In $ millions)
As of March 31, 2025 |  |  |  |  |  |  |  |
Derivatives Designated as Cash Flow Hedges |  |  |  |  |  |  |  |
Commodity swaps | $ | 45 |  | 6 |  | 41 |  |  |  |  | — |  | — |
Derivatives Designated as Fair Value Hedges |  |  |  |  |  |  |  |
Cross-currency swaps | € | 909 |  | 15 |  | — |  |  |  |  | 20 |  | 7 |
Cross-currency swaps(1) | ¥ | 132,242 |  | 52 |  | 18 |  |  |  |  | 2 |  | 11 |
Derivatives Designated as Net Investment Hedges |  |  |  |  |  |  |
Cross-currency swaps and foreign currency denominated debt | € | 4,592 |  | 61 |  | — |  |  |  |  | 34 |  | 223 |
Cross-currency swaps(2) | ¥ | 7,268 |  | 25 |  | — |  |  |  |  | 13 |  | 16 |
Derivatives Not Designated as Hedges |  |  |  |  |  |  |  |
Foreign currency forwards and swaps | $ | 1,750 |  | 3 |  | — |  |  |  |  | 7 |  | 19 |
Total |  | 162 |  | 59 |  |  |  |  | 76 |  | 276 |
December 31, 2024 |  |  |  |  |  |  |  |
Derivatives Designated as Cash Flow Hedges |  |  |  |  |  |  |  |
Commodity swaps | $ | 48 |  | 4 |  | 37 |  |  |  |  | — |  | — |
Derivatives Designated as Fair Value Hedges |  |  |  |  |  |  |  |
Cross-currency swaps | € | 909 |  | 20 |  | 10 |  |  |  |  | 7 |  | — |
Cross-currency swaps(1) | ¥ | 72,710 |  | 26 |  | 33 |  |  |  |  | 4 |  | — |
Derivatives Designated as Net Investment Hedges |  |  |  |  |  |  |  |
Cross-currency swaps and foreign currency denominated debt | € | 4,564 |  | 88 |  | — |  |  |  |  | 56 |  | 134 |
Cross-currency swaps(2) | ¥ | 7,268 |  | 21 |  | — |  |  |  |  | 7 |  | 26 |
Derivatives Not Designated as Hedges |  |  |  |  |  |  |  |
Foreign currency forwards and swaps | $ | 2,777 |  | 11 |  | — |  |  |  |  | 19 |  | 20 |
Total |  | 170 |  | 80 |  |  |  |  | 93 |  | 180 |
______________________________ (1)Notional amount denominated in Japanese yen. (2)Notional amount denominated in Chinese yuan.
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, 2025 |  |  |  |  |  |  |
Equity investments without readily determinable fair values | 170 |  |  | — |  |  | — |  |  | — |
Insurance contracts in nonqualified trusts | 18 |  |  | 18 |  |  | — |  |  | 18 |
Long-term debt, including current installments of long-term debt | 12,558 |  |  | 12,503 |  |  | 140 |  |  | 12,643 |
As of December 31, 2024 |  |  |  |  |  |  |
Equity investments without readily determinable fair values | 170 |  |  | — |  |  | — |  |  | — |
Insurance contracts in nonqualified trusts | 18 |  |  | 18 |  |  | — |  |  | 18 |
Long-term debt, including current installments of long-term debt | 12,527 |  |  | 12,470 |  |  | 145 |  |  | 12,615 |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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