v3.25.4
Long-Term Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Performance Award Valuation Assumptions The fair values were determined by a lattice-binomial option-pricing model based on Monte Carlo simulations using the following assumptions:
Year Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Expected dividend yield2.99 %2.42 %2.46 %
Expected volatility - range used
21.36% - 22.81%
23.41% - 24.52%
27.09% - 32.03%
Expected volatility - weighted average22.01 %23.79 %29.42 %
Risk-free interest rate
4.38% - 4.49%
4.20% - 5.24%
4.23% - 4.78%
Summary of Performance Award Transactions
Performance Award transactions for the year ended December 31, 2025 are summarized as follows:
Performance UnitsWeighted
Average
Grant Date
Fair Value
Performance RLP UnitsWeighted
Average
Grant Date
Fair Value
Outstanding at December 31, 2024120,041 $29.05 749,586 $29.00 
Issued37,435 $28.59 376,089 $28.38 
Forfeited(14,568)$29.74 (91,156)$29.74 
Vested(18,745)$29.74 (117,298)$29.74 
Outstanding at December 31, 2025124,163 $28.73 917,221 $28.58 
Summary of Service Award Transactions Service Award transactions for the year ended December 31, 2025 are summarized as follows:
Service UnitsWeighted
Average
Grant Date
Fair Value
Service RLP UnitsWeighted
Average
Grant Date
Fair Value
Outstanding at December 31, 2024120,525 $53.09 178,165 $52.02 
Issued53,126 $53.46 123,698 $48.69 
Forfeited— $— — $— 
Vested(71,545)$53.49 (91,103)$52.45 
Outstanding at December 31, 2025102,106 $53.00 210,760 $49.88