Employee Benefit Plan, Reconciliation of Financial Statement to Form 5500

12 Months Ended

Dec. 31, 2025

EBP, Reconciliation of Financial Statement to Form 5500 [Line Items]

EBP, Reconciliation of Financial Statement to Form 5500

RECONCILIATION OF PLAN’S FINANCIAL STATEMENTS TO FORM 5500:

The following is a reconciliation of net assets per the financial statements to the Form 5500 (in thousands):


	December 31, 2025		December 31, 2024
Net assets available for benefits per the financial statements	$	3,920,534	$	3,655,705
Adjustment from contract value to fair value for fully benefit-responsive investment contracts	(2,264)		(8,306)
Deemed no post default payments	(2,335)		(2,142)
Benefit claims payable	(2)		—
Net assets per the Form 5500	$	3,915,933	$	3,645,257

Investment contracts are shown at fair value on the Form 5500.

The following is a reconciliation of the increase in net assets available for benefits before transfers per the financial statements to the net income per the Form 5500 for the year ended December 31, 2025 (in thousands):


Increase/(decrease) in net assets available for benefits before transfers per the financial statements	$	264,286
Change in adjustment from contract value to fair value for fully benefit-responsive investment contracts	6,042
Change in deemed no post default payments	(193)
Change in benefit claims payable	(2)
Net income/(loss) per the Form 5500	$	270,133