| Schedule of fair value hierarchy of investments |
The following tables set forth by level within the fair value hierarchy the Plan’s investments (in thousands): | | | | | | | | | | | | | December 31, 2025 | | | | | | | | | | | | | | | Level 1 | | Level 2 | | Level 3 | | Total | Mutual funds | | $ | 149,507 | | $ | — | | $ | — | | $ | 149,507 | Employer securities | | | 274,071 | | | — | | | — | | | 274,071 | Mutual funds | | | 149,507 | | | — | | | — | | | 149,507 | Deferred income annuities | | | — | | | — | | | 3,173 | | | 3,173 | Life insurance policies | | | — | | | — | | | 34 | | | 34 | Total investments, at fair value | | | 423,578 | | | — | | | 3,207 | | | 426,785 | Common/Collective Trusts | | | | | | | | | | | | 1,979,988 | Pooled Separate Accounts | | | | | | | | | | | | 237,548 | Stable Value Fund | | | | | | | | | | | | 143,649 | Total investments, at net asset value | | | | | | | | | | | | 2,361,185 | Fully Benefit-Responsive Investment Contract | | | | | | | | | | | | 3,293 | Total investments, at contract value | | | | | | | | | | | | 3,293 | Total Investments | | | | | | | | | | | $ | 2,791,263 |
| | | | | | | | | | | | | December 31, 2024 | | | | | | | | | | | | | | | Level 1 | | Level 2 | | Level 3 | | Total | Mutual funds | | $ | 558,664 | | $ | — | | $ | — | | $ | 558,664 | Employer securities | | | 231,299 | | | — | | | — | | | 231,299 | Deferred income annuities | | | — | | | — | | | 3,215 | | | 3,215 | Life insurance policies | | | — | | | — | | | 32 | | | 32 | Total investments, at fair value | | | 789,963 | | | — | | | 3,247 | | | 793,210 | Common/Collective Trusts | | | | | | | | | | | | 1,245,859 | Pooled Separate Accounts | | | | | | | | | | | | 214,875 | Stable Value Fund | | | | | | | | | | | | 153,245 | Total investments, at net asset value | | | | | | | | | | | | 1,613,979 | Total Investments | | | | | | | | | | | $ | 2,407,189 |
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| Schedule of summary of changes in the fair values of the Level 3 investments |
The tables below set forth a summary of changes in the fair values of the Plan’s Level 3 investments for the years ended December 31, 2024 and 2023 (in thousands): | | | | | | | Year ended December 31, 2025 | | | | | | | | | Deferred Income | | Life Insurance | | | Annuities | | Policies | Balance, beginning of year | | $ | 3,215 | | $ | 32 | Purchases | | | 683 | | | 2 | Sales | | | (725) | | | — | Balance, end of year | | $ | 3,173 | | $ | 34 |
| | | | | | | Year ended December 31, 2024 | | | | | | | | | Deferred Income | | Life Insurance | | | Annuities | | Policies | Balance, beginning of year | | $ | 2,960 | | $ | 38 | Purchases | | | 1,147 | | | — | Sales | | | (892) | | | (6) | Balance, end of year | | $ | 3,215 | | $ | 32 |
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