| Schedule of master Trust assets measured at fair value on a recurring basis |
Disclosures concerning Master Trust assets measured at fair value on a recurring basis are as follows (in thousands): Assets Measured at Fair Value at December 31, 2025 | | | | | | | | | | | | | | | | | | Quoted Prices in | | | | | | | | | | | | Active Markets for | | Significant | | Significant | | | | | | Identical Assets | | Observable Inputs | | Unobservable Inputs | | | Balance | | (Level 1) | | (Level 2) | | (Level 3) | Assets - Master Trust investments: | | | | | | | | | | | | | | | | | | | | | | | | | | Investments at Fair Value: | | | | | | | | | | | | | Separate Account - Common Stock (1) | | $ | 378,412 | | $ | 378,412 | | | — | | | — | Ford stock fund - Ford common stock | | | 1,802,119 | | | 1,802,119 | | | — | | | — | | | | | | | | | | | | | | Total Investments at Fair Value | | $ | 2,180,531 | | $ | 2,180,531 | | $ | — | | $ | — | | | | | | | | | | | | | | Investments Measured at Net Asset Value: | | | | | | | | | | | | | Common and commingled Institutional pools | | | 24,695,725 | | | | | | | | | | Separate Account - Common Stock (2) | | | 2,609 | | | | | | | | | | Ford stock fund - Short-term Interest Fund (2) | | | 20,169 | | | | | | | | | | | | | | | | | | | | | | | Total Investments at NAV | | | 24,718,503 | | | | | | | | | | | | | | | | | | | | | | | Total Master Trust Investments at Fair Value | | $ | 26,899,034 | | | | | | | | | |
Assets Measured at Fair Value at December 31, 2024 | | | | | | | | | | | | | | | | | | Quoted Prices in | | | | | | | | | | | | Active Markets for | | Significant | | Significant | | | | | | Identical Assets | | Observable Inputs | | Unobservable Inputs | | | Balance | | (Level 1) | | (Level 2) | | (Level 3) | Assets - Master Trust investments: | | | | | | | | | | | | | | | | | | | | | | | | | | Investments at Fair Value: | | | | | | | | | | | | | Separate Account - Common Stock (1) | | $ | 500,376 | | $ | 500,376 | | | — | | | — | Ford stock fund - Ford common stock | | | 1,511,186 | | | 1,511,186 | | | — | | | — | | | | | | | | | | | | | | Total Investments at Fair Value | | $ | 2,011,562 | | $ | 2,011,562 | | $ | — | | $ | — | | | | | | | | | | | | | | Investments Measured at Net Asset Value: | | | | | | | | | | | | | Common and commingled Institutional pools | | | 20,992,156 | | | | | | | | | | Separate Account - Common Stock (2) | | | 5,762 | | | | | | | | | | Ford stock fund - Short-term Interest Fund (2) | | | 16,250 | | | | | | | | | | | | | | | | | | | | | | | Total Investments at NAV | | | 21,014,168 | | | | | | | | | | | | | | | | | | | | | | | Total Master Trust Investments at Fair Value | | $ | 23,025,730 | | | | | | | | | |
| (1) | The fund is primarily made up of common stock that is owned 100% by the Master Trust. |
| (2) | Includes short-term interest funds that invest primarily in fixed-income securities, including but not limited to, bonds, notes or other investments such as government securities, commercial paper, certificates of deposit, master notes or variable amount notes, with the objective of providing current income consistent with the preservation of capital and the maintenance of liquidity. |
|