| Master Trust Investments |
Master Trust Investments The net assets of the Master Trust and the Plan’s interest in the Master Trust as of December 31, 2025 and 2024 were:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2025 | | 2024 | | Investments at fair value: | | Master Trust Balances | | | Plan's Interest in Master Trust Balances | | Master Trust Balances | | | Plan's Interest in Master Trust Balances | | Collective trusts | | $ | 734,736,237 | | | $ | 115,648,769 | | | $ | 512,053,624 | | | $ | 90,489,570 | | | Ingredion common stock | | | 19,688,733 | | | | 3,824,662 | | | 25,611,171 | | | | 5,537,596 | | | Mutual funds | | 75,155,264 | | | | 13,742,105 | | | 228,439,096 | | | | 28,729,594 | | | Money market mutual funds | | | 1,305,218 | | | | 381,626 | | | | 407,516 | | | | 136,486 | | | Net assets | | $ | 830,885,452 | | | $ | 133,597,162 | | | $ | 766,511,407 | | | $ | 124,893,246 | |
Net investment income for the Master Trust as well as the Plan’s interest in the Master Trust income for the year ended December 31, 2025 is summarized as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Master Trust | | Plan's Interest in Master Trust | | Net appreciation in fair value of investments | | $ | 101,888,520 | | | $ | 14,714,097 | | | Dividend and interest income | | | 8,028,138 | | | | 1,545,667 | | | Investment Income | | $ | 109,916,658 | | | $ | 16,259,764 | |
Notes to the Financial Statements, continued
3. Master Trust Investments, continued
Assets of the Master Trust that are measured at fair value on a recurring basis as of December 31, 2025 and 2024 are summarized below:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements | | at December 31, 2025 | | Level 1 | Level 2 | Level 3 | Total | | Mutual funds | $ | 75,155,264 | | | $ | — | | | $ | — | | | $ | 75,155,264 | | | Company common stock | 19,688,733 | | | — | | | — | | | 19,688,733 | | | Collective Trusts | — | | | 117,658,866 | | | — | | | 117,658,866 | | | Money market mutual funds | — | | | 1,305,218 | | | — | | | 1,305,218 | | | Total assets in fair value hierarchy | 94,843,997 | | | 118,964,084 | | | — | | | 213,808,081 | | | Investments measured at net asset value (ᵃ) | — | | | — | | | — | | | 617,077,371 | | | Investments at fair value | $ | 94,843,997 | | | $ | 118,964,084 | | | $ | — | | | $ | 830,885,452 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements | | at December 31, 2024 | | Level 1 | Level 2 | Level 3 | Total | | Mutual funds | $ | 228,439,096 | | | $ | — | | | $ | — | | | $ | 228,439,096 | | | Company common stock | 25,611,171 | | — | | | — | | | 25,611,171 | | Collective Trusts | — | | | 125,599,317 | | | — | | | 125,599,317 | | | Money market mutual funds | — | | | 407,516 | | — | | | 407,516 | | Total assets in fair value hierarchy | 254,050,267 | | 126,006,833 | | — | | | 380,057,100 | | Investments measured at net asset value (ᵃ) | — | | | — | | | — | | | 386,454,307 | | Investments at fair value | $ | 254,050,267 | | | $ | 126,006,833 | | | $ | — | | | $ | 766,511,407 | |
(a) Certain Investments that were measured at net asset value per share (or its equivalent) as a practical expedient 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 net assets presented in the Master Trust footnote.
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