How are the investments in the Trust designated by Bw Premier Collection, and at what value are they carried?

According to Bw Premier Collection's 2025 Franchise Disclosure Document, the investments within the Trust are designated as trading securities. These investments are carried at fair value, reflecting their current market worth. The fair market value of these restricted investments is determined using Level 1 inputs, which are quoted prices for identical assets actively traded in the market. This approach ensures that the valuation is based on readily available and reliable market data.\n\nSpecifically, Bw Premier Collection has established a Nonqualified Deferred Compensation Plan (NQP) for its key management employees. To support this plan, the company created a NQP Rabbi Trust, where contributions are made to assist in satisfying the NQP liability. The investments held within this Trust are recorded as Restricted Rabbi Trust investments on the Consolidated Statements of Financial Position. These investments are consistently carried at their fair value, providing a transparent view of their financial status.\n\nAs of November 30, 2024, the investments in the Restricted Rabbi Trust totaled $17,037,000, measured using Level 1 inputs. This valuation method relies on quoted prices for identical assets in active markets, ensuring an accurate reflection of the investments' worth. The types of investments included certificates of deposits, mutual funds, common shares, U.S. treasury and government agency bonds, corporate bonds, mortgage and asset-backed securities, and municipal and provincial notes and bonds. This detailed categorization and valuation process underscores Bw Premier Collection's commitment to financial transparency and compliance with accounting standards.