Company: ORLY
Filing Date: 2025-06-25
Form Type: 11-K
Source: 0000898173-25-000037
Chunk: 7

Company: O REILLY AUTOMOTIVE INC
Filing Date: 2025-06-25
Form: 11-K
Chunk 7
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 | Quoted prices for similar assets and liabilities in active markets; |

| o | Quoted prices for identical or similar assets or liabilities in markets that are not active; |

| o | Observable inputs other than quoted prices that are used in the valuation of the assets or liabilities (e.g., interest rate and yield curve quotes at commonly quoted intervals); and |

| o | Inputs that are derived principally from or corroborated by observable market data by correlation or other means. |

| ● | Level 3 - Unobservable inputs for the asset or liability (i.e., supported by little or no market activity).  Level 3 inputs include management’s own assumption about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk). |

The level in the fair value hierarchy, within which the fair value measurement is classified, is determined based on the lowest level input that is significant to the fair value measure in its entirety. A description of the valuation methodologies used for Plan assets measured at fair value are identified below:

| ● | Employer common stock:  Valued at the closing price reported on the active market, on which the individual securities are traded. |

| ● | Target retirement date common trusts:  Valued using the net asset value (“NAV”) provided by T. Rowe Price Company (“T. Rowe Price”). |

| ● | Appreciation, collective trust:  Valued using the NAV provided by Harbor Capital. |

| ● | Stable value common collective trust:  Valued using the NAV provided by T. Rowe Price. |

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement as of the reporting date.

8

The tables below classify the investment assets measured at fair value on a recurring basis by level within the fair value hierarchy as of December 31, 2024 and 2023 (in thousands):

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 December 31, 2024 |         ​ | ​ | ​                |       ​ | ​ | ​           |         ​ | ​ | ​            | ​ |
|:-----------------------------------------------------|:--|:------------------|----------:|:--|:-----------------|--------:|:--|:------------|----------:|