| Schedule of assets measured at fair value on a recurring basis |
As of December 31, 2025 and 2024, the Plan held certain assets that are required to be measured at fair value on a recurring basis. Assets measured at fair value on a recurring basis are summarized below (in thousands): | | | | | | | | | | | | | | | Fair Value Measurements as of December 31, 2025 | | | (in 000's) | | | Total | | Level 1 | | Level 2 | | Level 3 | Mutual funds | | $ | 703,887 | | $ | 703,887 | | $ | — | | $ | — | Self-directed brokerage accounts | | | 136,688 | | | 136,688 | | | — | | | — | Cash and cash equivalents | | | 13,951 | | | 13,951 | | | — | | | — | Common/collective trusts* | | | 696,824 | | | — | | | — | | | — | Stable value fund* | | | 54,343 | | | — | | | — | | | — | Common stock fund* | | | 48,612 | | | — | | | — | | | — | Total investments at fair value | | $ | 1,654,305 | | $ | 854,526 | | $ | — | | $ | — |
| | | | | | | | | | | | | | | Fair Value Measurements as of December 31, 2024 | | | (in 000's) | | | Total | | Level 1 | | Level 2 | | Level 3 | Mutual funds | | $ | 608,843 | | $ | 608,843 | | $ | — | | $ | — | Self-directed brokerage accounts | | | 102,253 | | | 102,253 | | | | | | | Cash and cash equivalents | | | 7,911 | | | 7,911 | | | — | | | — | Common/collective trusts* | | | 571,991 | | | — | | | — | | | — | Stable value fund* | | | 62,108 | | | — | | | — | | | — | Common stock fund* | | | 45,305 | | | — | | | — | | | — | Total investments at fair value | | $ | 1,398,411 | | $ | 719,007 | | $ | — | | $ | — |
| * | The fair values for the common/collective trusts, stable value fund, and common stock fund are provided above to permit the reconciliation of the fair value hierarchy to the amounts presented in the statements of assets available for benefits. The common/collective trusts, stable value fund, and common stock fund are measured using the net asset value per unit as a practical expedient and therefore are not classified in the fair value hierarchy. |
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