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Debt (Tables) | 6 Months Ended
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Jun. 30, 2018
Debt Disclosure [Abstract] |
Schedule of Debt |
(In $ millions) |  | As at June 30, 2018 |  |  | As at December 31, 2017 |
Credit facilities: |  |  |  |  |  |  |  |
$2,000 facility (North Atlantic Drilling) (1) |  |  | 880 |  |  |  | 897 |
$400 facility (1) |  |  | 130 |  |  |  | 133 |
$440 facility (1) |  |  | 60 |  |  |  | 62 |
$1,450 facility (1) |  |  | 311 |  |  |  | 318 |
$360 facility (Asia Offshore Drilling) |  |  | 210 |  |  |  | 210 |
$300 facility (1) |  |  | 140 |  |  |  | 142 |
$1,750 facility (Sevan Drilling) (1) |  |  | 835 |  |  |  | 856 |
$450 facility (1) |  |  | 255 |  |  |  | 261 |
$1,500 facility (1) |  |  | 1,095 |  |  |  | 1,112 |
$1,350 facility (1) |  |  | 913 |  |  |  | 931 |
$950 facility (1) |  |  | 549 |  |  |  | 558 |
$450 facility (2015) (1) |  |  | 98 |  |  |  | 101 |
Total credit facilities |  |  | 5,476 |  |  |  | 5,581 |
Loans contained within VIEs: |  |  |  |  |  |  |  |
$375 facility |  |  | 237 |  |  |  | 251 |
$390 facility |  |  | 215 |  |  |  | 226 |
$475 facility |  |  | 285 |  |  |  | 309 |
Total loans contained within VIEs |  |  | 737 |  |  |  | 786 |
Unsecured bonds: |  |  |  |  |  |  |  |
NOK1,800 bond (2) |  |  | 231 |  |  |  | 231 |
$1,000 bond (2) |  |  | 843 |  |  |  | 843 |
$500 bond (2) |  |  | 479 |  |  |  | 479 |
NOK1,500 bond (NADL) (2) |  |  | 182 |  |  |  | 182 |
$ 600 bond (NADL) (2) |  |  | 413 |  |  |  | 413 |
SEK 1,500 bond (2) |  |  | 186 |  |  |  | 186 |
Total unsecured bonds |  |  | 2,334 |  |  |  | 2,334 |
Total debt principal |  |  | 8,547 |  |  |  | 8,701 |
Less: Debt balance held as subject to compromise |  |  | (7,600 | ) |  |  | (7,705 | )
Total debt not subject to compromise |  |  | 947 |  |  |  | 996 |
Less: current portion of debt principal |  |  | (91 | ) |  |  | (511 | )
Long-term portion of debt principal |  |  | 856 |  |  |  | 485 |
(1) | Denotes impaired secured credit facilities that were reclassified to “Liabilities subject to compromise” on September 12, 2017
(2) | Denotes unsecured bonds that were reclassified to “Liabilities subject to compromise” on September 12, 2017
Schedule of Debt Issuance Costs Against Current and Long-Term Debt |
Outstanding debt as at June 30, 2018 |  |  |
(In $ millions) |  | Principal outstanding |  |  | Less: Debt Issuance Costs |  |  | Total Debt |
Debt due within one year |  |  | 91 |  |  |  | (1 | ) |  |  | 90 |
Long-term debt |  |  | 856 |  |  |  | — |  |  |  | 856 |
Debt held as subject to compromise |  |  | 7,600 |  |  |  | — |  |  |  | 7,600 |
Total |  |  | 8,547 |  |  |  | (1 | ) |  |  | 8,546 |
Outstanding debt as at December 31, 2017 |  |  |
(In $ millions) |  | Principal outstanding |  |  | Less: Debt Issuance Costs |  |  | Total Debt |
Debt due within one year |  |  | 511 |  |  |  | (2 | ) |  |  | 509 |
Long-term debt |  |  | 485 |  |  |  | — |  |  |  | 485 |
Debt held as subject to compromise |  |  | 7,705 |  |  |  | — |  |  |  | 7,705 |
Total |  |  | 8,701 |  |  |  | (2 | ) |  |  | 8,699 |
Outstanding Debt | The outstanding debt as at June 30, 2018 is repayable as follows:
(In $ millions) |  | Year ended June 30, |
2019 |  |  | 91 |
2020 |  |  | 57 |
2021 |  |  | 68 |
2022 |  |  | 70 |
2023 |  |  | 523 |
2024 and thereafter |  |  | 138 |
Total debt principal |  |  | 947 |

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