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Investments
 9 Months Ended
Sep. 30, 2025
Investments [Abstract]  
Investments Investments
Investments were as follows:
As of
September 30, 2025		As of
December 31, 2024
Equity method investments$123 $95 
Equity investments20 31 
Marketable securities6 5 
Total investments$149 $131 
Our equity method investments, which require us to use the equity method of accounting, primarily includes our 49% joint venture equity ownership in Ingrear Holding S.A. (“Argentina joint venture”). In June 2025, we entered into a joint venture agreement with Agrana Stärke GmbH (“Agrana joint venture”). The Agrana joint venture agreement provided us with a 49% equity interest in the joint venture for the development of starch production in Romania. In exchange for our stake in the Agrana joint venture, we paid $17 million year-to-date 2025, net of post-closing adjustments. Our investment in the Agrana joint venture is classified as an equity method investment, and we recognize our share of net income one month in arrears in the Texture & Healthful Solutions segment.
Equity earnings from our equity method investments are recorded in Other operating expense (income), net on our Condensed Consolidated Statements of Income. During year-to-date 2024, we recorded an other-than-temporary impairment charge of $18 million on an equity method investment. These charges are recorded in the Restructuring/impairment charges on our Condensed Consolidated Statements of Income.
Our investments classified as equity investments do not have readily determinable fair values. During year-to-date 2025, we recorded other-than-temporary impairment charges of $4 million on certain equity investments and sold $6 million of equity investments.