| EBP, Reconciliation of Financial Statement to Form 5500 |
The following is a reconciliation of net assets available for plan benefits of the Master Trust at December 31, 2025 and December 31, 2024, to the Master Trust’s Form 5500.
| | | | | | | | | | Reconciliation of net assets available for plan benefits of the Master Trust | December 31, | | 2025 | 2024 | | Net assets available for plan benefits of the Master Trust | $ | 16,837,275,689 | | $ | 15,354,572,632 | | | Adjustment from contract value to fair value for fully benefit-responsive investment contracts | (12,153,182) | | (22,705,442) | | | Net assets available for plan benefits per the Master Trust’s Form 5500 | $ | 16,825,122,507 | | $ | 15,331,867,190 | |
The following is a reconciliation of the change in net assets available for plan benefits of the Master Trust for the years ended December 31, 2025 and December 31, 2024, to the Master Trust’s Form 5500.
| | | | | | | | | | Reconciliation of change in net assets available for plan benefits of the Master Trust | Year ended December 31, | | 2025 | 2024 | Net change in net assets available for plan benefits of the Master Trust | $ | 1,482,703,057 | | $ | 930,397,980 | | | Adjustment from contract value to fair value for fully benefit-responsive investment contracts - prior year | 22,705,442 | | 25,852,313 | | | Adjustment from contract value to fair value for fully benefit-responsive investment contracts - current year | (12,153,182) | | (22,705,442) | | | Net change in net assets available for plan benefits per the Master Trust’s Form 5500 | $ | 1,493,255,317 | | $ | 933,544,851 | |
The following is a reconciliation of net assets available for plan benefits per the financial statements at December 31, 2025 and December 31, 2024, to Form 5500.
| | | | | | | | | | Reconciliation of net assets available for plan benefits | December 31, | | 2025 | 2024 | | Net assets available for plan benefits per the financial statements | $ | 11,022,497,843 | | $ | 9,931,854,572 | | | Benefit claims payable | (3,680,152) | | (3,178,527) | | | Adjustment from contract value to fair value for fully benefit-responsive investment contracts | (12,142,244) | | (22,689,548) | | | Net assets available for plan benefits per Form 5500 | $ | 11,006,675,447 | | $ | 9,905,986,497 | |
The following is a reconciliation of benefits paid to participants per the financial statements for the years ended December 31, 2025 and December 31, 2024, to Form 5500.
| | | | | | | | | | Reconciliation of benefits paid to participants | Year ended December 31, | | 2025 | 2024 | | Benefits paid to participants per the financial statements | $ | 1,069,656,802 | | $ | 926,353,132 | | | Less: Benefit claims payable – prior year | 3,178,527 | | 2,587,636 | | | Add: Benefit claims payable – current year | 3,680,152 | | 3,178,527 | | | Benefits paid to participants per Form 5500 | $ | 1,070,158,427 | | $ | 926,944,023 | |
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