v3.26.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2025
EBP 019  
EBP, Investment, Fair Value and NAV [Line Items]  
Schedule of Plan Assets and Investments at Fair Value
The following table sets forth by level, within the fair value hierarchy, the Plan's assets at fair value as of December 31, 2025 and 2024.
Dollars in thousandsFair Value Measurement Using Inputs Considered as20252024
Registered investment companiesLevel 1$10,996 $9,619 
Interest in Carpenter Technology Master Trust Fund
Carpenter Technology Stock FundLevel 1267 337 
Short-term investment fundLevel 190 69 
Common collective trusts(1)28,689 26,480 
Total investments at fair value$40,042 $36,505 

(1) Investments that are measured at NAV or its equivalent per share as a practical expedient are excluded from the fair value hierarchy. The fair value presented herein permits reconciliation to the Statements of Net Assets Available for Benefits.

The following table represents the investments at fair value based on NAV per share as of December 31, 2025 and 2024.
Dollars in thousands20252024Unfunded CommitmentsRedemption FrequencyRedemption Notice Period
Common collective trusts (1)
$28,689 $26,480 NoneDailyNone

(1) The Plan invests in the following common collective trusts:
•Aristotle Value Equity CIT B Fund, which invests primarily in U.S. headquartered companies that have a minimum market capitalization of $2 billion at the time of initial investment, and seeks to maximize long-term capital appreciation.
•Prudential Core Plus Bond Fund Collective Trust, which invests in investment-grade fixed income securities, and seeks to outperform the Barclays Capital U.S. Aggregate Bond Index, which broadly represents the performance of debt securities publicly traded in the United States.
•Vanguard Target Retirement Trust II Collective Trusts, which invest in diversified portfolios of equity and fixed-income securities and are designed to provide age-appropriate asset allocation that becomes more conservative over time.
•Wasatch Core Growth CIT Class A Fund, which invests primarily in equity securities of smaller, growing companies at reasonable prices. It focuses on long-term capital growth, with income as a secondary objective.