| Schedule of Recurring and Nonrecurring Fair Value Measurements |
The following table summarizes recurring and nonrecurring fair value measurements by level as of and for the three months ended September 30, 2026 (in thousands):
| | | Fair | | | | | | | | | | |
| | | Value | | | Level 1 | | | Level 2 | | | Level 3 | |
| Assets: | | | | | | | | | | | | |
| Transferable tax credits generated, net | | $ | 7,565 | | | $ | — | | | $ | —
| | | $ | 7,565 | |
| Derivative financial instruments | | | 5,332 | | | | 5,332 | | | | — | | | | — | |
| | | $ | 12,897 | | | $ | 5,332 | | | $ | — | | | $ | 7,565 | |
| | | | | | | | | | | | | | | | | |
| Liabilities: | | | | | | | | | | | | | | | | |
| Derivative financial instruments | | $ | 1,242 | | | $ | 1,242 | | | $ | — | | | $ | — | |
The following table summarizes recurring and nonrecurring fair value measurements by level at December 31, 2025 (in thousands):
| | | | | | | | | | | | | | | Benefit Plan | |
| | | Fair | | | | | | | | | | | | Percentage | |
| | | Value | | | Level 1 | | | Level 2 | | | Level 3 | | | Allocation | |
| Assets: | | | | | | | | | | | | | | | |
| Derivative financial instruments | | $ | 525 | | | $ | 525 | | | $ | — | | | $ | — | | | | | |
| Transferable tax credits generated, net | | | 7,500 | | | | — | | | | — | | | | 7,500 | | | | | |
| Defined benefit plan assets(1) | | | | | | | | | | | | | | | | | | | | |
| (pooled separate accounts): | | | | | | | | | | | | | | | | | | | | |
| Large U.S. Equity(2) | | | 8,060 | | | | — | | | | 8,060 | | | | — | | | | 36 | % |
| Small/Mid U.S. Equity(3) | | | 3,574 | | | | — | | | | 3,574 | | | | — | | | | 16 | % |
| International Equity(4) | | | 3,479 | | | | — | | | | 3,479 | | | | — | | | | 16 | % |
| Fixed Income(5) | | | 6,988 | | | | — | | | | 6,988 | | | | — | | | | 32 | % |
| | | $ | 30,126 | | | $ | 525 | | | $ | 22,101 | | | $ | 7,500 | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Liabilities: | | | | | | | | | | | | | | | | | | | | |
| Derivative financial instruments | | $ | 1,067 | | | $ | 1,067 | | | $ | — | | | $ | — | | | | | |
| (1) | Included in other assets, net of defined benefit obligation, in the condensed consolidated balance sheets. |
| (2) | This category includes investments in funds comprised of equity securities of large U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. |
| (3) | This category includes investments in funds comprised of equity securities of small- and medium-sized U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. |
| (4) | This category includes investments in funds comprised of equity securities of foreign companies including emerging markets. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. |
| (5) | This category includes investments in funds comprised of U.S. and foreign investment-grade fixed income securities, high-yield fixed income securities that are rated below investment-grade, U.S. treasury securities, mortgage-backed securities, and other asset-backed securities. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. |
|
| Schedule of Fair Value Measurements |
The following table summarizes the roll-forward of Level 3 fair value measurements as of September 30, 2026 (in thousands):
| Balance as of December 31, 2025 | | $ | 7,500 | |
| Transferable tax credits generated, net | | | 3,900 | |
| Other | | | 130 | |
| Balance as of March 31, 2026 | | $ | 11,530 | |
| Transferable tax credits generated, net | | | 5,112 | |
| Proceeds from sale of 2025 tax credits | | | (8,852 | ) |
| Other | | | 475 | |
| Balance as of June 30, 2026 | | $ | 8,265 | |
| Transferable tax credits generated, net | | | 7,565 | |
| Other | | | (1 | ) |
| Balance as of September 30, 2026 | | $ | 15,829 | |
|