| Reconciliation of Financial Statements to Form 5500 |
6. |
Reconciliation of Financial Statements to Form 5500 | The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500 at December 31, 2025 and 2024:
|
|
|
|
|
|
|
|
|
| |
|
2025 |
|
|
2024 |
|
Net assets available for benefits per the financial statements |
|
$ |
3,585,204,772 |
|
|
$ |
3,219,775,473 |
|
Amounts allocated to deemed distributions of notes receivable from Participants |
|
|
(2,325,616 |
) |
|
|
(2,180,524 |
) |
Adjustment from contract value to fair value for fully benefit-responsive investment contracts |
|
|
(8,093,432 |
) |
|
|
(16,016,470 |
) |
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|
|
|
|
|
|
|
|
Net assets available for benefits per the Form 5500 |
|
$ |
3,574,785,724 |
|
|
$ |
3,201,578,479 |
|
|
|
|
|
|
|
|
|
| Deemed distributions of notes receivable from Participants, resulting from defaults of notes receivable from Participants, are no longer considered assets of the Plan with respect to Form 5500 filings. The following is a reconciliation of net increase in net assets available for benefits per the financial statements to net income per the Form 5500 for the year ended December 31, 2025:
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|
|
|
|
Net increase in net assets available for benefits per the financial statements |
|
$ |
365,429,299 |
|
Adjustment from contract value to fair value for fully benefit-responsive investment contracts as of the current year-end |
|
|
(8,093,432 |
) |
Adjustment from contract value to fair value for fully benefit-responsive investment contracts as of the prior year-end |
|
|
16,016,470 |
|
Net decrease in defaulted notes receivable from Participants |
|
|
24,155 |
|
Interest income of defaulted notes receivable from Participants |
|
|
(169,247 |
) |
|
|
|
|
|
Total net income per the Form 5500 |
|
$ |
373,207,245 |
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|
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|