OSHKOSH CORPORATION NOTES OF CONSOLIDATED FINANCIAL STATEMENTS
diversification of investments by asset class, by investing in different styles of investment management within the classes and using several investment managers. The fair value of plan assets by major category and level within the fair value hierarchy was as follows (in millions):
Significant Other Observable Inputs (Level 2)
Quoted Prices for Identical Assets (Level 1)
Significant Unobservable Inputs (Level 3)
Total
December 31, 2025 Common stocks U.S. companies (a)
$
100.2 $
— $
— $
100.2
International companies (b)
—
9.0
— — —
9.0
Mutual funds (a)
104.2
— — —
104.2
Money market funds (c) Insurance contract (d)
9.5
9.5
—
22.1 22.1
22.1
$
213.9 $
9.0 $
245.0 118.5 363.5
Investments measured at net asset value (NAV) (e)
$
Significant Other Observable Inputs (Level 2)
Quoted Prices for Identical Assets (Level 1)
Significant Unobservable Inputs (Level 3)
Total
December 31, 2024 Common stocks U.S. companies (a)
$
96.1 $
— $
— $
96.1
International companies (b)
—
7.1
— — — — —
7.1
Mutual funds (a)
100.0
—
100.0
Government and agency bonds (f) Corporate bonds and notes (g)
— —
12.9
12.9
5.9
5.9
Money market funds (c)
10.6
— —
10.6
Other
—
0.4 0.4
0.4
$
206.7 $
25.9 $
233.0 110.1 343.1
Investments measured at net asset value (NAV) (e)
$
(a) Primarily valued using a market approach based on the quoted market prices of identical instruments that are actively traded on public exchanges. (b) Valuation model looks at underlying security “best” price, exchange rate for underlying security’s currency against the U.S. dollar and ratio of underlying security to American depository receipt. (c) These investments largely consist of short-term investment funds and are valued using a market approach based on the quoted market prices of identical instruments. (d) This investment consisted of an insurance contract with a third-party insurer valued on an insurer pricing basis updated for changes in market rates. (e) These investments consist of common collective trusts that are valued based on NAV. NAV is based on the fair value of each fund's underlying investments. In accordance with ASC Subtopic 820-10, certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.
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