XML 48 R23.htm IDEA: XBRL DOCUMENT v3.25.4
DEFINED CONTRIBUTION SAVINGS PLAN
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
DEFINED CONTRIBUTION SAVINGS PLAN DEFINED CONTRIBUTION SAVINGS PLAN
As of December 31, 2025, 42,861 employees contributed to the Company’s defined contribution savings plan, voluntary to all eligible salaried employees and any employee in a group of employees to which coverage has been extended on a non-discriminatory basis by the plan’s Administration Committee. Participants are allowed to contribute, on a pre-tax or after-tax basis, up to the lesser of fifty percent of their annual compensation or the maximum dollar amount allowed under the Internal Revenue Code. The Company matches one hundred percent of all contributions up to six percent of eligible employee contributions. In addition to the matching contribution, the Company may elect to make discretionary contributions as permitted in the plan document. Participant and company contributions may be invested in a variety of investment funds or a Company common stock fund and may be exchanged between investments as directed by the participant. Participants are permitted to diversify both future and prior Company matching contributions previously allocated to the Company common stock fund into a variety of investment funds.
The Company made contributions to the defined contribution savings plan on behalf of participating employees, representing amounts authorized by employees to be withheld from their earnings, of $278.9 million, $279.6 million and $260.5 million in 2025, 2024 and 2023, respectively. The Company’s contributions charged to operations related to the defined contribution savings plan were $184.2 million, $165.1 million and $153.9 million for 2025, 2024 and 2023, respectively.
At December 31, 2025, there were 14,886,577 shares of the Company’s common stock being held by the defined contribution savings plan, representing 6.0% of the total number of voting shares outstanding. Shares of Company common stock credited to each participant’s account under the defined contribution savings plan are voted by the trustee under instructions from each individual plan participant. Shares for which no instructions are received are voted by the trustee in the same proportion as those for which instructions are received.