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Strategic Investments
3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Strategic Investments Strategic Investments
As part of our strategy, we continuously evaluate opportunities for strategic investments that align with our mission. We account for these investments in non-public companies under the ASC Topic 321, Investments - Equity Securities, measurement alternative for equity securities without readily determinable fair values, as there are no quoted market prices for these investments. The investments are measured at cost and adjusted to fair value when there is an observable price change, and are assessed for impairment whenever events or circumstances indicate that the carrying amount may not be recoverable.
We hold investments in Pickle Robot Co. (“Pickle”) and Creapaper GmbH (“Creapaper”). Pickle is a robotics-solutions company which has developed robots for sorting, loading and unloading packaged goods. Creapaper uses a patented process to produce grass fiber, a raw material required for producing their grasspaper packaging products.
There were no adjustments recognized in the three months ended March 31, 2025. As of March 31, 2025, the carrying value of our investments in Pickle and Creapaper were $13.8 million and $4.6 million, respectively.