| EBP, Investment, Fair Value and NAV [Text Block] |
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3.
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Fair Value Measurements
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The FASB’s guidance on fair value measurements establishes a three-level valuation hierarchy for disclosure based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). An asset’s fair value measurement level within the hierarchy is based on the lowest level of input that is significant to the valuation.
The three levels are defined as follows:
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•
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Level 1 - inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.
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•
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Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.
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Level 3 - inputs to the valuation methodology are unobservable and significant to the fair value measurement.
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The following are assets measured at fair value on a recurring basis at December 31, 2025 and 2024:
| December 31, 2025 |
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Description
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Level 1
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Total
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Mutual Funds
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$ |
1,180,850,917 |
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$ |
1,180,850,917 |
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Common Stock
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249,539,519 |
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249,539,519 |
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1,430,390,436 |
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Common/collective trust measured at net asset value as a practical expedient
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83,455,915 |
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Total investments
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$ |
1,513,846,351 |
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| December 31, 2024 |
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Description
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Level 1
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Total
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Mutual Funds
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$ |
1,011,718,764 |
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$ |
1,011,718,764 |
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Common Stock
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248,051,604 |
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248,051,604 |
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1,259,770,368 |
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Common/collective trust measured at net asset value as a practical expedient
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83,375,849 |
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Total investments
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$ |
1,343,146,217 |
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