v3.26.1
Master Trust Information
 12 Months Ended
Dec. 31, 2025
EBP 011  
EBP, Master Trust [Line Items]  
Master Trust Information Master Trust Information
The Trustee holds all of the investments and is authorized to execute transactions. Financial information relating to the assets held by the Master Trust is included in the accompanying financial statements based on information provided by the Trustee. The Plan holds a divided interest in the assets of the Master Trust. The Plan’s share of net assets in the Master Trust and net appreciation, interest and dividends in the Master Trust, was determined by the Trustee as of December 31, 2025 and 2024 and for the year ended December 31, 2025 on the basis of the Plan’s specific ownership interest in the Master Trust’s underlying assets, plus the Plan’s cumulative contributions, less the Plan’s cumulative benefit payments and share of administrative expenses.
Investment gains and administrative expenses related to the Master Trust are allocated to the individual plans based upon average monthly balances by each plan.
The following tables present the Master Trust balances and the Plan’s interest in the Master Trust balances as of December 31, 2025 and 2024:

Master Trust Balances as of December 31, 2025Plan’s interest in Master Trust Balances as of December 31, 2025
Company common stock
$228,264,940 

$221,300,718 
Common collective trusts
5,547,791,181 

5,460,537,926 
Mutual funds
234,860,058 

232,970,000 
Cash equivalents
21,041,877 

20,700,731 
Total investments at fair value
$6,031,958,056 

$5,935,509,375 
Investment contracts at contract value (see note 5)
386,072,611 

381,115,519 
Total investments
$6,418,030,667 

$6,316,624,894 

Master Trust Balances as of December 31, 2024Plan’s interest in Master Trust Balances as of December 31, 2024
Company common stock
$309,098,578 

$298,435,503 
Common collective trusts
4,863,355,623 

4,794,935,812 
Mutual funds
201,558,912 

200,155,977 
Cash equivalents
14,576,829 

14,315,257 
Total investments at fair value
$5,388,589,942 

$5,307,842,549 
Investment contracts at contract value (see note 5)
399,239,232 

394,546,633 
Total investments
$5,787,829,174 

$5,702,389,182 
The following table presents the net appreciation in fair values of investment and investment income of the Master Trust and Plan for the Year Ended December 31, 2025:

Master Trust BalancesPlan’s interest in Master Trust Balances
   Net appreciation
$826,950,750 

$815,326,799 
   Interest, dividends and other income
30,659,229 

30,215,532 
   Total investment income
$857,609,979 

$845,542,331