Cover |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Document Information [Line Items] | |
| Document Type | 11-K |
| Entity Registrant Name | nVent Electric plc |
| Amendment Flag | false |
| Entity Central Index Key | 0001720635 |
| The Plan | |
| Document Information [Line Items] | |
| Document Type | 11-K |
| Entity Registrant Name | nVent Electric plc |
| Amendment Flag | false |
| Entity Central Index Key | 0001720635 |
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS - The Plan - USD ($) |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| ASSETS: | ||
| Participant-directed investments — at fair value | $ 664,873,532 | $ 721,636,255 |
| Receivables | ||
| Notes receivable from participants | 6,249,753 | 7,304,058 |
| Employee contributions | 0 | 7,656 |
| Employer contributions | 0 | 5,257 |
| Total receivables | 6,249,753 | 7,316,971 |
| Total assets | 671,123,285 | 728,953,226 |
| NET ASSETS AVAILABLE FOR BENEFITS | $ 671,123,285 | $ 728,953,226 |
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS - The Plan |
12 Months Ended |
|---|---|
|
Dec. 31, 2025
USD ($)
| |
| CONTRIBUTIONS: | |
| Employer | $ 33,325,308 |
| Employee | 17,263,151 |
| Rollover | 7,666,153 |
| Total contributions | 58,254,612 |
| INVESTMENT INCOME: | |
| Interest and dividend income | 2,989,990 |
| Net appreciation in the fair value of investments | 116,238,735 |
| Total investment income | 119,228,725 |
| Interest income on notes receivable from participants | 538,090 |
| DEDUCTIONS: | |
| Distributions to participants | 95,530,193 |
| Administrative expenses | 148,397 |
| Total deductions | 95,678,590 |
| CHANGE IN NET ASSETS BEFORE PLAN TRANSFERS | 82,342,837 |
| PLAN TRANSFERS OUT (Note 1) | (140,172,778) |
| CHANGE IN NET ASSETS | (57,829,941) |
| NET ASSETS AVAILABLE FOR BENEFITS — Beginning of year | 728,953,226 |
| NET ASSETS AVAILABLE FOR BENEFITS — End of year | $ 671,123,285 |
DESCRIPTION OF THE PLAN |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| The Plan | |
| EBP, Description of Plan [Line Items] | |
| DESCRIPTION OF THE PLAN | DESCRIPTION OF THE PLAN The following description of the nVent Management Company Retirement Savings and Investment Plan (the "Plan") provides only general information. Participants should refer to the Plan document for a more complete description of the Plan. General Information — The Plan was established on January 1, 2019. The Plan is a defined contribution plan with a cash or deferred arrangement described in Internal Revenue Code ("IRC") Section 401(k). With certain exceptions, the Plan covers employees of U.S. subsidiaries of nVent Electric plc ("nVent" or the "Company") who have attained age 18, although such employees must have one year of service before becoming vested in employer matching contributions. nVent Management Company is a subsidiary of the Company, and is the Plan sponsor as well as Plan administrator. Fidelity Management Trust Company ("Fidelity") is recordkeeper and trustee of the Plan. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"), as amended. Effective December 31, 2024, the Trachte, LLC 401(k) Plan (the "Trachte Plan"), the Parkline, Inc. Delaney Road Facility 401(k) Plan and the Parkline, Inc. 401(k) Plan (collectively the "Parkline Plans") were merged into the Plan with the participants 100% vested. Effective January 1, 2025, current employees of Trachte, LLC and Parkline, Inc. became covered by the Plan. Empower Trust Company LLC and Alerus Financial, N.A. held the assets of the Trachte Plan and the Parkline Plans, respectively, for the period from January 1, 2025 through January 15, 2025 until the funds transfer occurred. Effective January 30, 2025 (the "Closing Date"), nVent completed the sale of its Thermal Management business, including nVent Thermal LLC ("Thermal"), to BCP VI Summit Holdings LP (the "Acquirer"). Effective immediately following the Closing Date and pursuant to a transition services agreement, Thermal was a participating employer in the Plan and Thermal employees remained participants or were eligible to participate in the Plan until June 30, 2025. All accounts of Thermal employees, amounting to $140,172,778, were transferred, in a trustee-to-trustee transfer, to a qualified defined contribution plan designed by the Acquirer in 2025. Participation — Participation for regular full-time employees may commence effective with the date of hire, provided that the employee is at least age 18. Participation for regular part-time employees may commence effective the first day of the month coinciding with or next following twelve months after the date of hire, provided that the employee is at least age 18. Participants may contribute up to 50% of their eligible compensation as defined by the Plan document, consisting of pre-tax and/or Roth 401(k) contributions. Participants may also contribute up to 15% of their eligible compensation, subject to certain annual dollar limitations, on a post-tax basis, for a combined limit of 65% of eligible compensation. Combined pre-tax and Roth 401(k) employee contributions are also subject to the IRC Section 402(g) limitation of $23,500 for 2025. Employees who will be age 50 or older are permitted to make additional catch up contributions to the Plan up to the IRC limitation of $7,500 for 2025. The Plan has an automatic enrollment feature for new employees at a rate of 5% of pre-tax eligible compensation with an automatic annual increase of 1% per year until the participant reaches a deferral rate of 10%. Employees can opt-out of automatic enrollment and automatic annual increase at any time. As of January 1, 2024, pursuant to the applicable collective bargaining agreement, the automatic enrollment feature does not apply to employees of ILSCO LLC who are covered by a collective bargaining agreement. Employee contributions are matched at the rate of 100% of the first 5% of eligible compensation that is contributed to the Plan by a participant related to pre-tax or Roth 401(k) contributions. Employer contributions are made on a pre-tax basis. Pursuant to the applicable collective bargaining agreement, employees of ILSCO LLC who are covered by a collective bargaining agreement are not eligible for matching contributions. Participant Accounts — Individual accounts are maintained for each Plan participant. Each participant's account is credited with the participant's contributions, the Company's matching contributions and Plan earnings, and charged with withdrawals and allocations of Plan losses and administrative expenses. The benefit to which a participant is entitled under the Plan is the value of the participant's vested account. Investments — Participants direct the investment of their account into various investment options offered by the Plan and may change investments and transfer amounts daily. The Plan currently offers various investment alternatives to Plan participants, consisting of corporate stock, mutual funds, common/collective trusts and stable value funds. Participants may also direct their investments through a trustee sponsored brokerage account, which offers the option to invest in a variety of individual stocks and mutual funds. Participants cannot allocate more than 25% of their contributions into the Company’s ordinary shares. Investment management fees are charged against 401(k) trust earnings before such earnings are allocated to participant accounts. Notes receivable from participants — Loans for any reason are allowed under the Plan. The interest rate charged is prime rate plus 1% at the time funds are borrowed. The maximum maturity of the loans is five years (15 years for loans to purchase a primary residence). The minimum loan amount is $1,000, and the maximum is the lesser of 50% of the vested account balance or $50,000. Due to transfers of notes receivable from participants related to plan transfers, certain loans outstanding as of December 31, 2025 and 2024 may bear interest at rates higher than the prime rate plus 1% and have an original maturity greater than 15 years. Pursuant to the applicable collective bargaining agreement, an employee of ILSCO LLC who is covered by a collective bargaining agreement is not eligible to take a loan from his or her participant account. Vesting — Participants are vested immediately in all elective deferral, after-tax, rollover, and discretionary contributions, plus actual earnings thereon. All matching contributions are 100% vested upon completion of one year of service. Administrative Expenses — Administrative expenses of the Plan are paid in part by the Plan sponsor and the participants as provided in the Plan document. The Plan has a revenue-sharing agreement whereby certain investment managers return a portion of the investment fees to the recordkeeper to offset the Plan's administrative expenses. Future Plan expenses can be paid from any excess remaining revenue sharing amounts. During 2025, there were no Plan administrative expenses paid from this unallocated account. The Plan held undistributed administrative revenues of $218,529 and $136,564 at December 31, 2025 and 2024, respectively. Payment of Benefits — Upon severance from service for any reason, a participant may elect to receive a lump-sum amount equal to the value of the participant's vested account balance. Some participants can also elect annual installments over a term-certain period. Hardship Withdrawals — Hardship withdrawals are available for immediate and heavy financial need up to the amount of pre-tax and Roth 401(k) contributions and earnings thereon. Hardship withdrawals can occur any time with a maximum of two per calendar year. Forfeitures — When certain terminations of participation in the Plan occur, the nonvested portion of the participant’s account, as defined by the Plan, represents a forfeiture. The plan document permits the use of forfeitures to either reduce future employer contributions or to pay Plan administrative expenses for the plan year. As of December 31, 2025 and 2024, forfeited nonvested accounts totaled $29,863 and $20,108, respectively. During the year ended December 31, 2025, employer contributions were reduced by $219,698 as a result of the forfeited nonvested accounts. Subsequent Events — Subsequent events are evaluated through June 23, 2026, the date the financial statements are issued. Effective January 1, 2026, the following entities became participating employers in the Plan, and their employees were eligible to participate in the Plan: nVent Enclosures System – Chattanooga LLC, Central Electric Manufacturing Company LLC, The Calvert Company LLC, Critical Power Equipment & Solutions, Inc., CGIT Systems LLC, nVent Enclosures Systems LLC, Powergrid Solutions LLC and Atkinson Industries LLC. Effective March 31, 2026, the Plan was amended to merge the WASP Critical Power Solutions 401(k) Plan into the Plan. Effective April 1, 2026, the Plan was amended to receive a plan-to-plan transfer of accounts from the Avail Infrastructure Solutions Retirement Savings Plan. The combined related participants and plan assets of approximately $56,800,000 were transferred to the Plan.
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SIGNIFICANT ACCOUNTING POLICIES |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| The Plan | |
| EBP, Accounting Policy [Line Items] | |
| SIGNIFICANT ACCOUNTING POLICIES | SIGNIFICANT ACCOUNTING POLICIES Basis of accounting The financial statements of the Plan have been prepared on the accrual basis of accounting and in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and changes therein and disclosure of contingent assets and liabilities. Actual results could differ from those estimates. Risks and uncertainties The Plan provides various investment options to its participants, including corporate stock, mutual funds, common/collective trusts and stable value funds. Participants may also direct their investments through a trustee sponsored brokerage account, which offers the option to invest in a variety of individual stocks and mutual funds, etc. Investment securities, in general, are exposed to various risks, such as interest rate risk, credit risk and overall market volatility. Market risks include global events which could impact the value of investment securities, such as a pandemic or international conflict. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the value of the participants' account balances and the amounts reported in the financial statements. Concentration of investments At December 31, 2025 and 2024 the Plan's investment in the Fidelity Growth Company Commingled Pool was $118,237,299 and $157,592,045, respectively and represented 17.8% and 21.8%, respectively of the Plan's total investments at fair value. Investment valuation and income recognition The Plan's investments are stated at fair value. Accounting guidance related to fair value measurements, which establishes a single authoritative definition of fair value, sets a framework for measuring fair value, and requires additional disclosures about fair value measurements (see note 3). Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation and depreciation in the fair value of investments includes gains and losses in investments sold during the year as well as appreciation and depreciation of the investments held at year end. Notes receivable from participants Notes receivable from participants are measured at their unpaid balance plus any accrued but unpaid interest. Delinquent participant loans are recorded as distributions based on the terms of the Plan document. Contributions Contributions to the Plan from participants and from the Company are recorded in the period that payroll deductions are withheld from Plan participants. Excess Contributions Payable The Plan is required to return contributions received during the Plan year in excess of the IRC limits. There were no excess contributions due to participants as of December 31, 2025 and 2024. Payment of benefits Benefit payments to participants are recorded upon distribution. There were no participants, who elected to withdraw from the Plan, but had not yet been paid at December 31, 2025.
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FAIR VALUE MEASUREMENTS |
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| The Plan | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EBP, Investment, Fair Value and NAV [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS The Plan's estimates of fair value for financial assets are based on the framework established in the fair value accounting guidance. Fair value is the price that would be received by the Plan for an asset or paid by the Plan to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date in the Plan's principal or most advantageous market for the asset or liability. Fair value measurements are determined by maximizing the use of observable inputs and minimizing the use of unobservable inputs. The hierarchy places the highest priority on unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1 measurements) and gives the lowest priority to unobservable inputs (Level 3 measurements). The three levels of inputs within the fair value hierarchy are defined as follows: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the Plan has the ability to access. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect the Plan's own assumptions about the assumptions that market participants would use in pricing an asset or liability. In some cases, a valuation technique used to measure fair value may include inputs from multiple levels of the fair value hierarchy. The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy. Certain investments are measured at fair value on a recurring basis in the statements of net assets available for benefits. The following methods and assumptions were used to estimate the fair values: Mutual funds, ordinary shares and other investments — These investments are classified as Level 1 and consist of various publicly-traded money market funds, mutual funds, ordinary shares and other investments. Ordinary shares are valued at the closing price reporting on the active market on which the securities are traded on the last business day of the Plan year. Shares of registered investment companies, consisting of mutual funds, are valued at quoted market prices and are actively traded. Self-directed brokerage account — Consists primarily of the following investments: (1) mutual funds, which are valued at quoted market prices and are actively traded; (2) a variety of ordinary shares, which are valued at the closing price reporting on the active market on which the securities are traded on the last business day of the Plan year; and (3) cash and cash equivalents, which approximate fair value due to their short term nature. Common/collective trusts — These investments consist of various other collective investment trust funds. The underlying investments in these collective investment trust funds primarily include intermediate and long-term debt securities, corporate debt securities, equity securities and fixed income securities. The overall fair value of the common/collective trusts are valued at net asset value ("NAV"), which is based on the fair value of the underlying securities owned by the fund and divided by the number of shares outstanding. The NAV, as provided by the trustee, is used as a practical expedient to estimate fair value. This practical expedient would not be used if it is determined to be probable that the fund will sell the investment for an amount different than the reported NAV. There are no unfunded commitments within these trusts, and participant-directed withdrawals may be made at any time without penalty, regardless of their frequency or amount. Stable value fund — A collective trust fund that is composed primarily of fully benefit-responsive investment contracts that is valued at the NAV of units of the bank collective trust. The NAV, as provided by the trustee, is used as a practical expedient to estimate fair value. This practical expedient would not be used if it is determined to be probable that the fund will sell the investment for an amount different from the reported NAV. Participant transactions (purchases and sales) may occur daily. If the Plan initiates a full redemption of the collective trust, the issuer reserves the right to require 12 months’ notification in order to confirm that securities liquidations will be carried out in an orderly business manner. There are no unfunded commitments within this trust. In accordance with GAAP, investments measured at NAV as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the following tables are intended to permit reconciliation to the amount presented in the statements of net assets available for benefits. The fair values of the Plan's investments measured at fair value on a recurring basis and their respective level within the fair value hierarchy was as follows:
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FEDERAL INCOME TAX STATUS |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| The Plan | |
| EBP, Tax Status [Line Items] | |
| FEDERAL INCOME TAX STATUS | FEDERAL INCOME TAX STATUS The Internal Revenue Service ("IRS") has determined and informed the Company by a letter dated April 24, 2024, that the Plan and related trust were designed in accordance with the applicable regulations of the IRC. Although the Plan has been amended since receiving the determination letter, the Company and Plan management believe that the Plan is currently designed and operated in compliance with the applicable requirements of the IRC, and the Plan and related trust continue to be tax-exempt. Therefore, no provision for income taxes has been included in the Plan’s financial statements. GAAP requires plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. As of December 31, 2025 and 2024, the Company has analyzed the tax positions by the Plan and has concluded that there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan administrator believes the Plan is no longer subject to income tax examinations for years prior to 2022.
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EXEMPT PARTY-IN-INTEREST TRANSACTIONS |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| The Plan | |
| EBP, Related Party and Party-in-Interest Transactions [Line Items] | |
| EXEMPT PARTY-IN-INTEREST TRANSACTIONS | EXEMPT PARTY-IN-INTEREST TRANSACTIONS Certain Plan investments are common/collective trusts and stable value funds managed by Fidelity, and shares of mutual funds managed by Fidelity Investments Institutional Operations Company LLC, an affiliate of Fidelity. Fidelity is the trustee and recordkeeper as defined by the Plan. These transactions qualify as exempt party-in-interest transactions. Fees paid by the Plan for investment management services were included as a reduction of the return earned on each fund. Administrative revenues arise when investment managers return a portion of the investment fees to Fidelity to offset the administrative expenses. Any excess resulting from this revenue sharing remains in an unallocated account from which future Plan expenses can be paid. During 2025, there were no Plan administrative expenses paid from this unallocated account. The Plan held undistributed administrative revenues of $218,529 and $136,564 at December 31, 2025 and 2024, respectively. The Plan paid administrative fees of $139,431 to Fidelity and $8,966 to Empower Trust Company LLC and Alerus Financial, N.A. for the year ended December 31, 2025. At December 31, 2025 and 2024, the Plan held 293,407 and 379,117 ordinary shares of nVent, the parent of the sponsoring employer, with a cost basis of $5,227,845 and $6,380,017, respectively. During the year ended December 31, 2025, purchases of shares by the Plan totaled $1,839,451 and sales and transfers of shares by the Plan totaled $7,610,668, respectively. During the year ended December 31, 2025, the Plan recorded dividend income of $233,723 with respect to the ordinary shares of nVent. Participant loans also qualify as party-in-interest transactions and amounted to $6,249,753 and $7,304,058 at December 31, 2025 and 2024, respectively.
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PLAN TERMINATION |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| The Plan | |
| EBP, Description of Plan [Line Items] | |
| PLAN TERMINATION | PLAN TERMINATION Although it has not expressed any intention to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions set forth in ERISA. In the event that the Plan is terminated, participants would become 100% vested in their accounts.
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RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500 |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Plan | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EBP, Reconciliation of Financial Statement to Form 5500 [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500 | RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500 As of December 31, 2025 and 2024, reconciliation of net assets available for benefits per the financial statements to the Form 5500 was as follows:
For the year ended December 31, 2025, reconciliation of the change in net assets available for benefits per the financial statements to the Form 5500 was as follows:
* * * * * *
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SIGNIFICANT ACCOUNTING POLICIES (Policies) - The Plan |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| EBP, Accounting Policy [Line Items] | |
| Basis of accounting | Basis of accounting The financial statements of the Plan have been prepared on the accrual basis of accounting and in accordance with accounting principles generally accepted in the United States of America ("GAAP").
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| Use of estimates | Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and changes therein and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
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| Risks and uncertainties | Risks and uncertainties The Plan provides various investment options to its participants, including corporate stock, mutual funds, common/collective trusts and stable value funds. Participants may also direct their investments through a trustee sponsored brokerage account, which offers the option to invest in a variety of individual stocks and mutual funds, etc. Investment securities, in general, are exposed to various risks, such as interest rate risk, credit risk and overall market volatility. Market risks include global events which could impact the value of investment securities, such as a pandemic or international conflict. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the value of the participants' account balances and the amounts reported in the financial statements.
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| Investment, valuation and income recognition | Investment valuation and income recognition The Plan's investments are stated at fair value. Accounting guidance related to fair value measurements, which establishes a single authoritative definition of fair value, sets a framework for measuring fair value, and requires additional disclosures about fair value measurements (see note 3). Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation and depreciation in the fair value of investments includes gains and losses in investments sold during the year as well as appreciation and depreciation of the investments held at year end.
|
| Note receivable from participants | Notes receivable from participants Notes receivable from participants are measured at their unpaid balance plus any accrued but unpaid interest. Delinquent participant loans are recorded as distributions based on the terms of the Plan document.
|
| Contributions | Contributions Contributions to the Plan from participants and from the Company are recorded in the period that payroll deductions are withheld from Plan participants.
|
| Excess Contributions Payable | Excess Contributions Payable The Plan is required to return contributions received during the Plan year in excess of the IRC limits.
|
| Payment of benefits | Payment of benefits Benefit payments to participants are recorded upon distribution.
|
FAIR VALUE MEASUREMENTS (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Plan | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EBP, Investment, Fair Value and NAV [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Investment, Fair Value and NAV | The fair values of the Plan's investments measured at fair value on a recurring basis and their respective level within the fair value hierarchy was as follows:
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RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500 (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Plan | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EBP, Reconciliation of Financial Statement to Form 5500 [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EBP, Reconciliation of Financial Statement to Form 5500 | As of December 31, 2025 and 2024, reconciliation of net assets available for benefits per the financial statements to the Form 5500 was as follows:
For the year ended December 31, 2025, reconciliation of the change in net assets available for benefits per the financial statements to the Form 5500 was as follows:
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FORM 5500 SCHEDULE H, PART IV, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR) (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Plan | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EBP, Schedule of Asset Held for Investment [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EBP, Schedule of Asset Held for Investment |
(1)Party-in-interest. * Cost information is not required for participant-directed investments and, therefore, is not included.
|
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SIGNIFICANT ACCOUNTING POLICIES (Details) - The Plan - USD ($) |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| EBP, Accounting Policy [Line Items] | ||
| Concentration of investments | $ 118,237,299 | $ 157,592,045 |
| Concentration of investments, percent | 17.80% | 21.80% |
EXEMPT PARTY-IN-INTEREST TRANSACTIONS (Details) - The Plan - USD ($) |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| EBP, Related Party and Party-in-Interest Transactions [Line Items] | ||
| Administrative revenues | $ 218,529 | $ 136,564 |
| Administrative expenses | 148,397 | |
| Participant-directed investments — at fair value | 664,873,532 | 721,636,255 |
| Notes receivable from participants | 6,249,753 | $ 7,304,058 |
| Empower Trust Company LLC | ||
| EBP, Related Party and Party-in-Interest Transactions [Line Items] | ||
| Administrative expenses | 8,966 | |
| Fidelity | ||
| EBP, Related Party and Party-in-Interest Transactions [Line Items] | ||
| Administrative expenses | $ 139,431 | |
| EBP, Employer, Common Stock | ||
| EBP, Related Party and Party-in-Interest Transactions [Line Items] | ||
| Investment (in shares) | 293,407 | 379,117 |
| Participant-directed investments — at fair value | $ 5,227,845 | $ 6,380,017 |
| Investment acquired | 1,839,451 | |
| Investment sold | 7,610,668 | |
| Dividend income | $ 233,723 |
RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500 (Details) - The Plan - USD ($) |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| EBP, Reconciliation of Financial Statement to Form 5500 [Line Items] | ||
| NET ASSETS AVAILABLE FOR BENEFITS | $ 671,123,285 | $ 728,953,226 |
| Less: Cumulative deemed distributions of participant loans | (170,016) | (347,005) |
| Net assets available for benefits per Form 5500 | 670,953,269 | $ 728,606,221 |
| Change in net assets available for benefits per the financial statements | 82,342,837 | |
| Add: Change in 2024 cumulative deemed distributions of participant loans | 347,005 | |
| Less: Change in 2025 cumulative deemed distributions of participant loans | (170,016) | |
| Change in net assets available for benefits per Form 5500 | $ 82,519,826 |