Note 9—Reconciliation of Financial Statements to Form 5500 The following is a reconciliation of net assets available for benefits as of December 31, 2025 and 2024, as reflected in these financial statements, to the amounts reflected in the Plan’s Form 5500:
|
|
|
|
|
|
|
|
|
|
|
Thousands of Dollars |
|
|
|
2025 |
|
|
2024 |
|
Net assets available for benefits as reported in the financial statements |
|
$ |
8,463,031 |
|
|
|
7,706,154 |
|
Adjustment from contract value to fair value for fully benefit-responsive
investment contracts |
|
|
(11,254 |
) |
|
|
(30,004 |
) |
Deemed distributions of participant loans |
|
|
(2,048 |
) |
|
|
(1,688 |
) |
Net assets available for benefits as reported in the Form 5500 |
|
$ |
8,449,729 |
|
|
|
7,674,462 |
|
The following is a reconciliation of net increase for the year ended December 31, 2025, as reflected in these financial statements, to the amounts reflected in the Plan’s Form 5500:
|
|
|
|
|
|
|
Thousands of Dollars |
|
|
|
2025 |
|
Net increase as reported in the financial statements, excluding transfers |
|
$ |
756,877 |
|
Adjustment from contract value to fair value for fully benefit-responsive investment
contracts at December 31, 2025 |
|
|
(11,254 |
) |
Reverse adjustment from contract value to fair value for certain fully
benefit-responsive investment contracts at December 31, 2024 |
|
|
30,004 |
|
Deemed distributions of participant loans at the beginning of the year |
|
|
1,688 |
|
Deemed distributions of participant loans at end of the year |
|
|
(2,048 |
) |
Net gain as reported in the Form 5500 |
|
$ |
775,267 |
|
|