Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2025

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 June 30, 2025
Derivatives Designated as Cash Flow Hedges
Commodity swaps	$	44	5	42	—	—
Foreign currency forwards and swaps	$	39	—	—	—	—
Derivatives Designated as Fair Value Hedges
Cross-currency swaps	€	909	14	—	7	103
Cross-currency swaps(1)	¥	132,242	42	4	9	24
Derivatives Designated as Net Investment Hedges
Cross-currency swaps and foreign currency denominated debt	€	4,669	79	—	64	467
Cross-currency swaps(2)	¥	7,268	20	—	6	71
Derivatives Not Designated as Hedges
Foreign currency forwards and swaps	$	1,652	5	—	18	—
Total			165	46	104	665
As of 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

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(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 June 30, 2025
Equity investments without readily determinable fair values	171	—	—	—
Insurance contracts in nonqualified trusts	18	18	—	18
Long-term debt, including current installments of long-term debt	12,876	13,033	137	13,170
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

Celanese Corp 10-Q