| EBP, Investment, Fair Value and NAV |
The following tables set forth by level within the fair value hierarchy a summary of the Plan’s investments measured at fair value on a recurring basis on December 31, 2025 and 2024:
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2025 |
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Quoted Prices in |
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Significant |
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Significant |
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Active Markets |
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Other |
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Unobservable |
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for Identical |
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Observable |
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Inputs |
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Assets (Level 1) |
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Inputs (Level 2) |
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(Level 3) |
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Total |
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Common stock |
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$ |
586,426,951 |
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$ |
— |
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$ |
— |
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$ |
586,426,951 |
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Mutual and money market funds |
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744,270,746 |
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— |
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— |
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744,270,746 |
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Personal directed brokerage accounts |
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264,242,785 |
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— |
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— |
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264,242,785 |
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Total assets in the fair value hierarchy |
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1,594,940,482 |
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— |
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— |
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1,594,940,482 |
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Investments measured at net asset value (a) |
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— |
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— |
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— |
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3,400,576,478 |
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Investments at fair value |
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$ |
1,594,940,482 |
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$ |
— |
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$ |
— |
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$ |
4,995,516,960 |
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2024 |
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Quoted Prices in |
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Significant |
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Significant |
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Active Markets |
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Other |
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Unobservable |
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for Identical |
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Observable |
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Inputs |
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Assets (Level 1) |
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Inputs (Level 2) |
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(Level 3) |
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Total |
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Common stock |
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$ |
427,136,729 |
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$ |
— |
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$ |
— |
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$ |
427,136,729 |
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Mutual and money market funds |
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665,194,837 |
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— |
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— |
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665,194,837 |
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Personal directed brokerage accounts |
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210,158,263 |
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— |
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— |
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210,158,263 |
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Total assets in the fair value hierarchy |
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1,302,489,829 |
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— |
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— |
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1,302,489,829 |
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Investments measured at net asset value (a) |
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— |
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— |
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— |
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2,975,531,860 |
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Investments at fair value |
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$ |
1,302,489,829 |
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$ |
— |
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$ |
— |
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$ |
4,278,021,689 |
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| (a) |
In accordance with Subtopic 820-10, certain investments that were measured at NAV per share (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the line items presented in the Statements of Net Assets Available for Benefits. |
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