| Summary of the plan's assets at fair value |
The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2025:
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|
|
|
|
| |
|
|
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|
|
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|
|
|
|
|
Mutual funds |
|
$ |
425,244,904 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
425,244,904 |
|
Common stock |
|
|
19,837,600 |
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|
|
— |
|
|
|
— |
|
|
|
19,837,600 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets in the fair value hierarchy |
|
$ |
445,082,504 |
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|
|
— |
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|
|
— |
|
|
$ |
445,082,504 |
|
Investments measured at Net Asset Value (NAV)* |
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|
|
|
|
|
|
|
|
|
|
|
|
|
44,188,270 |
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|
|
|
|
|
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|
|
|
|
|
|
|
|
|
Investments at fair value |
|
$ |
445,082,504 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
489,270,774 |
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|
| The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2024:
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|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Mutual funds |
|
$ |
395,783,492 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
395,783,492 |
|
Common stock |
|
|
25,464,294 |
|
|
|
— |
|
|
|
— |
|
|
|
25,464,294 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets in the fair value hierarchy |
|
$ |
421,247,786 |
|
|
|
— |
|
|
|
— |
|
|
$ |
421,247,786 |
|
Investments measured at Net Asset Value (NAV)* |
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|
|
|
|
|
|
|
|
|
|
|
|
|
15,148,553 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments at fair value |
|
$ |
421,247,786 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
436,396,339 |
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| * |
Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statements of Net Assets Available for Benefits. |
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| Summary of investments measured at fair value |
The following table summarizes investments measured at fair value based on net asset value (“NAV”) per share as of December 31, 2025 and 2024, respectively.
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Description |
|
Fair Value 12/31/2025 |
|
Fair Value 12/31/2024 |
|
Unfunded
Commitments |
|
Redemption Frequency (if currently eligible) |
|
Redemption Notice Period |
| Common Collective Trust Fund |
|
$14,402,226 |
|
$15,148,553 |
|
n/a |
|
Daily |
|
30 days |
| Pooled Separate Accounts |
|
29,786,044 |
|
— |
|
n/a |
|
Daily |
|
30 days |
|
|
|
|
|
|
|
|
|
|
|
| Total |
|
$44,188,270 |
|
$15,148,553 |
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