v3.23.1
Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Carrying Value and Estimated Fair Value of Cash and Financial Instruments
The carrying value and estimated fair value of the Company’s cash and financial instruments were as follows:

As of December 31, 2022As of December 31, 2021
(In $ millions)HierarchyFair ValueCarrying ValueFair ValueCarrying Value
Assets
Cash and cash equivalents(1)
1108.0 108.034.9 34.9
Restricted cash(1)
12.5 2.53.3 3.3 
Trade receivables(1)
143.0 43.028.5 28.5
Other current assets (excluding deferred costs)(1)
125.4 25.4 16.0 16.0 
Due from related parties(1)
165.6 65.648.6 48.6
Non-current restricted cash(1)
18.0 8.0 7.8 7.8 
Liabilities
Trade payables(1)
147.7 47.734.7 34.7
Accrued expenses(1)
180.8 80.845.6 45.6
Short-term accrued interest and other items (1)
177.7 77.715.3 15.3
Other current liabilities(1)
136.2 36.218.4 18.4
Short-term debt (2)
1100.8 100.8— — 
Short-term debt (3)
2330.8 350.0— — 
Long-term debt (2)
11,177.7 1,177.71,555.3 1,555.3
Long-term debt (3)
2— — 173.3 350.0

(1) The carrying values approximate the fair values due to their near term expected receipt of cash.
(2) Short term and long term debt excludes deferred finance charges and effective interest rate adjustments.
(3) This relates to our 3.875% Convertible Bond due in 2023 which is fair valued using observable market-based inputs.