XML 23 R13.htm IDEA: XBRL DOCUMENT v3.23.3
Investments
 9 Months Ended
Sep. 30, 2023
Investments [Abstract]  
Investments 5. Investments
Investments consisted of the following as of:
(in millions)September 30,
2023		December 31,
2022
Equity investments$27 $23 
Equity method investments101 113 
Marketable securities4 3 
Total investments$132 $139 
Our investments classified as equity investments do not have readily determinable fair values. Beginning on the dates we entered into the agreements for equity method investments, our share of income from them is included within Other operating (income) expense in the Condensed Consolidated Statements of Income. During the third quarter of 2023, we recorded a $10 million other-than-temporary-impairment on our equity method investments, included in Restructuring/impairment charges in the Condensed Consolidated Statements of Income.
Argentina Joint Venture
On February 12, 2021, Ingredion entered into an agreement with an affiliate of Grupo Arcor, an Argentine food company, to establish Ingrear Holding S.A. (the “Argentina joint venture”), a joint venture to sell value-added ingredients to customers in the food, beverage, pharmaceutical and other industries in Argentina, Chile and Uruguay. Ingredion and Grupo Arcor have completed all closing conditions, pending customary antitrust review, to combine the manufacturing facilities, finalize the transaction and formally establish the Argentina joint venture, which is managed by a jointly appointed team of executives.