v3.26.1
RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
12 Months Ended
Dec. 31, 2025
Precision Strip Retirement and Savings Plan  
RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500  
RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
8.RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500

The following are reconciliations of net assets and changes in net assets available for benefits as reported on Form 5500 with that reported in the accompanying financial statements:

December 31,

2025

  ​

2024

Net assets available for benefits as reported on the Form 5500

$

404,963,405

$

370,799,105

Adjustment from fair market value per Trustee to NAV for the MIP

269,084

773,647

Net assets available for benefits

$

405,232,489

$

371,572,752

Year Ended December 31,

2025

Net income as reported on the Form 5500

$

34,164,300

Investments:

Adjustment from fair market value per Trustee to NAV for the MIP:

Beginning of year

(773,647)

End of year

269,084

Net increase in net assets available for benefits

$

33,659,737