v3.26.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2025
EBP Hourly DPS Plan  
EBP, Investment, Fair Value and NAV [Line Items]  
EBP, Investment, Fair Value and NAV
The fair values of the Plan’s investments by asset category as of December 31, 2025 were as follows (in thousands of dollars): 
Level 1Level 2Totals
Master Trust
Altria Stock$1,456,731 $— $1,456,731 
Registered investment companies651,804 — 651,804 
Government securities— 137,213 137,213 
Other15,030 1,115 16,145 
$2,123,565 $138,328 2,261,893 
Investments measured at NAV as a practical expedient for fair value:
Collective investment funds
2,688,978 
Total Master Trust investments at fair value$4,950,871 
The fair values of the Plan’s investments by asset category as of December 31, 2024 were as follows (in thousands of dollars):
Level 1Level 2Totals
Master Trust A
Registered investment companies$554,006 $— $554,006 
Government securities— 115,076 115,076 
Other— 9,038 9,038 
$554,006 $124,114 678,120 
Investments measured at NAV as a practical expedient for fair value:
Collective investment funds
2,396,791 
`
Total Master Trust A investments at fair value$3,074,911 
Master Trust B
Altria Stock$1,357,609 $— $1,357,609 
Total Master Trust B investments at fair value$1,357,609 $— $1,357,609 
The following table summarizes additional disclosures related to investments measured at NAV as a practical expedient to estimate fair value as of December 31, 2025 and 2024 (in thousands of dollars):
Fair Value
Collective Investment Funds20252024Redemption FrequencyRedemption Notice Period
U.S. equity index$1,932,637 $1,762,919 DailyNone
International equity index$362,459 $276,084 DailyNone
U.S. fixed income$393,882 $357,788 DailyNone