v3.26.1
Employee Benefit Plan, Master Trust - EBP 009
 12 Months Ended
Dec. 31, 2025
EBP, Master Trust [Abstract]  
EBP, Master Trust MASTER TRUST:
The following table presents the net assets of the Master Trust (in thousands):
December 31, 2025
December 31, 2024
Master Trust
Plan’s Interest in Master Trust
Master Trust
Plan’s Interest in Master Trust
Investments at contract value:
Synthetic investment contracts(1)
$222,528 $15,152 $227,557 $15,782 
Investments at fair value:
Collective trusts3,824,977 308,716 3,490,832 276,903 
Registered investment companies79,980 1,921 86,313 2,605 
Common stocks59,302 5,305 85,870 7,365 
Short-term investments3,917 307 7,198 540 
Total investments at fair value3,968,176 316,249 3,670,213 287,413 
Total investments4,190,704 331,401 3,897,770 303,195 
Receivables:
Pending trades and other6 — 71 5 
Total assets4,190,710 331,401 3,897,841 303,200 
Liabilities:
Pending trades and other(1,302)(89)(1,933)(134)
Total liabilities$(1,302)$(89)$(1,933)$(134)
Net assets$4,189,408 $331,312 $3,895,908 $303,066 
 (1) As of December 31, 2025, the Master Trust synthetic investments include settlement proceeds of $10,244,054 and settlement earnings of $224,172. Refer to Note 2, Investment Valuation and Income Recognition.
The following is a summary of the investment income/(loss) and other additions to the Master Trust for the year ended December 31, 2025 (in thousands):
Interest and dividends
$15,261 
Net appreciation/(depreciation) in fair value of investments
540,401 
Other additions (Note 2)10,468 
Investment income/(loss) and other additions
$566,130 
Plan’s interest therein
$42,046 
EBP, Master Trust [Line Items]  
EBP, Master Trust MASTER TRUST:
The following table presents the net assets of the Master Trust (in thousands):
December 31, 2025
December 31, 2024
Master Trust
Plan’s Interest in Master Trust
Master Trust
Plan’s Interest in Master Trust
Investments at contract value:
Synthetic investment contracts(1)
$222,528 $15,152 $227,557 $15,782 
Investments at fair value:
Collective trusts3,824,977 308,716 3,490,832 276,903 
Registered investment companies79,980 1,921 86,313 2,605 
Common stocks59,302 5,305 85,870 7,365 
Short-term investments3,917 307 7,198 540 
Total investments at fair value3,968,176 316,249 3,670,213 287,413 
Total investments4,190,704 331,401 3,897,770 303,195 
Receivables:
Pending trades and other6 — 71 5 
Total assets4,190,710 331,401 3,897,841 303,200 
Liabilities:
Pending trades and other(1,302)(89)(1,933)(134)
Total liabilities$(1,302)$(89)$(1,933)$(134)
Net assets$4,189,408 $331,312 $3,895,908 $303,066 
 (1) As of December 31, 2025, the Master Trust synthetic investments include settlement proceeds of $10,244,054 and settlement earnings of $224,172. Refer to Note 2, Investment Valuation and Income Recognition.
The following is a summary of the investment income/(loss) and other additions to the Master Trust for the year ended December 31, 2025 (in thousands):
Interest and dividends
$15,261 
Net appreciation/(depreciation) in fair value of investments
540,401 
Other additions (Note 2)10,468 
Investment income/(loss) and other additions
$566,130 
Plan’s interest therein
$42,046