v3.26.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2025
EBP 002  
EBP, Investment, Fair Value  
EBP, Investment, Fair Value and NAV FAIR VALUE MEASUREMENTS
 
In accordance with accounting guidance for fair value measurements and disclosures, the Plan categorized its financial instruments, based on the priority of the observable and market-based data for the valuation technique used, into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to quoted prices with readily available independent data in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable market inputs (Level 3). When various inputs for measurement fall within different levels of the fair value hierarchy, the lowest observable input that has a significant impact on fair value measurement is used. The Plan's valuation techniques have not changed from those used at December 31, 2024. Financial instruments are categorized based upon the following characteristics or inputs to the valuation techniques:
 
•Level 1 – Financial assets and liabilities for which inputs are observable and are obtained from reliable quoted prices for identical assets or liabilities in active markets. This is the most reliable fair value measurement and includes, for example, active exchange-traded equity securities and funds.
•Level 2 – Financial assets and liabilities for which values are based on quoted prices in markets that are not active or for which values are based on similar assets and liabilities that are actively traded. This also includes pricing models for which the inputs are corroborated by market data.
•Level 3 – Financial assets and liabilities for which fair values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement.

The Plan bases fair value for investments in common stock on quoted market prices. Registered investment companies are valued at quoted market prices, which represent the NAV of shares held by the Plan at year-end. Self-directed brokerage accounts are valued based on quoted market prices which would be the exit position. The methods described above may produce a fair value measurement that may not be reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with those of other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement.
 
The following tables illustrate the fair value hierarchy for those assets measured at fair value on a recurring basis at December 31, 2025 and 2024. The Plan did not have any liabilities carried at fair value or any Level 2 or Level 3 assets at or during the years ended December 31, 2025 and 2024.
At December 31, 2025Quoted prices in active markets for identical assets
(Level 1)		Significant
other observable
inputs
(Level 2)		Significant unobservable inputs
(Level 3)		Total 
Registered investment companies:    
Large cap funds$456,422,399 $— $— $456,422,399 
Mid cap funds156,726,598 — — 156,726,598 
Small cap funds45,583,483 — — 45,583,483 
Balanced funds498,779,808 — — 498,779,808 
International funds102,378,127 — — 102,378,127 
Bond funds79,410,421 — — 79,410,421 
Total registered investment companies1,339,300,836 — — 1,339,300,836 
Cincinnati Financial Stock Fund:
  Cincinnati Financial Corporation Common Stock78,738,274 — — 78,738,274 
  Stock Purchase Account - Fidelity Government
    Cash Reserves Fund		10,227 — — 10,227 
       Total Cincinnati Financial Stock Fund78,748,501 — — 78,748,501 
Vanguard Federal Money Market Fund35,699,186 — — 35,699,186 
Self-directed brokerage accounts56,984,108 — — 56,984,108 
Total$1,510,732,631 $— $— $1,510,732,631 
At December 31, 2024
Registered investment companies:    
Large cap funds$389,296,692 $— $— $389,296,692 
Mid cap funds145,924,196 — — 145,924,196 
Small cap funds48,462,527 — — 48,462,527 
Balanced funds395,825,234 — — 395,825,234 
International funds79,843,708 — — 79,843,708 
Bond funds69,142,923 — — 69,142,923 
Total registered investment companies1,128,495,280 — — 1,128,495,280 
Cincinnati Financial Stock Fund:
Cincinnati Financial Corporation Common Stock67,163,116 — — 67,163,116 
Stock Purchase Account - Fidelity Government
    Cash Reserves Fund		9,133 — — 9,133 
      Total Cincinnati Financial Stock Fund67,172,249 — — 67,172,249 
Vanguard Federal Money Market Fund38,564,178 — — 38,564,178 
Self-directed brokerage accounts41,959,606 — — 41,959,606 
Total$1,276,191,313 $— $— $1,276,191,313