v3.26.1
FAIR VALUE MEASUREMENTS
 12 Months Ended
Dec. 31, 2025
EBP 334  
EBP, Investment, Fair Value and NAV [Line Items]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
ASC 820, Fair Value Measurements and Disclosures ("ASC 820"), establishes a single authoritative definition of fair value, sets a framework for measuring fair value, and requires additional disclosures about fair value measurements.
The various inputs that may be used to determine the value of the Plan’s and Trust’s investments are summarized in three broad levels. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1 — Quoted prices (unadjusted) in active markets for identical securities.
Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 — Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).
The following tables set forth by level within the fair value hierarchy a summary by category of equity securities held by the Trust measured at fair value on a recurring basis at December 31, 2025 and 2024. The tables do not include the Collective trust funds value of $373,312,398 and $247,520,396 at December 31, 2025 and 2024, respectively, in accordance with the disclosure requirements of ASC 820-10 for certain investments measured at net asset value per share (or its equivalent).
Fair Value Measurements
at December 31, 2025, Using
Quoted Prices
in ActiveSignificant
Markets forOtherSignificant
IdenticalObservableUnobservable
AssetsInputsInputs
(Level 1)(Level 2)(Level 3)Total
Mutual funds$232,526,472 $— $— $232,526,472 
Bunge shares (1)
— 11,155,132 — 11,155,132 
Self-directed brokerage accounts30,195,159 1,482,553 — 31,677,712 
Total investments in the fair value hierarchy
262,721,631 12,637,685 — 275,359,316 
Collective trust funds measured at net asset value (2)
— — — 373,312,398 
Total investments, at fair value$262,721,631 $12,637,685 $— $648,671,714 
Fair Value Measurements
at December 31, 2024, Using
Quoted Prices
in ActiveSignificant
Markets forOtherSignificant
IdenticalObservableUnobservable
AssetsInputsInputs
(Level 1)(Level 2)(Level 3)Total
Mutual funds$280,394,161 $— $— $280,394,161 
Bunge shares (1)
— 9,962,378 — 9,962,378 
Self-directed brokerage accounts24,110,873 1,472,121 — 25,582,994 
Total investments in the fair value hierarchy
304,505,034 11,434,499 — 315,939,533 
Collective trust funds measured at net asset value (2)
— — — 247,520,396 
Total investments, at fair value$304,505,034 $11,434,499 $— $563,459,929 
(1)    Effective January 1, 2025, based on the assessment on inputs, the Plan changed the classification of the Bunge Fund from Level 1 to Level 2 within the fair value hierarchy. This change in presentation had no impact on the total value of investments or on the Plan's net assets available for benefits. Prior period activity has been reclassified to conform to the current year presentation.
.(2)    In accordance with ASC Subtopic 820-10, certain investments that were measured at net asset value per share (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts
presented in this table are intended to permit reconciliation of the fair value hierarchy to the line items presented in the Statements of Net Assets Available for Benefits.INVESTMENTS MEASURED USING THE NET ASSET VALUE PER SHARE PRACTICAL EXPEDIENT
The following table summarizes investments held by the Trust for which fair value is measured using the net asset value per share practical expedient as of December 31, 2025 and 2024. There are no participant redemption restrictions for these investments; the redemption notice period is applicable only to the Plan.

Fair Value at December 31,Unfunded Commitments at December 31,
Investment Type
2025
2024
2025
2024
Redemption FrequencyRedemption Notice Period
Collective trusts - Stable Value$5,297,012 $6,037,911 $— $— Daily
Daily (1)
Collective trust funds$368,015,386 $241,482,485 $— $— DailyDaily

(1)    Withdrawals made on the collective trust can be initiated daily. Plan Sponsor terminations of the contracts can be initiated daily. Disbursements of the funds for Plan Sponsor terminations will be provided as soon as practicable within twelve months following written notice.