diff --git a/CHANGELOG.md b/CHANGELOG.md
index 454ffc1a91c..b28723aa08e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,9 +2,34 @@
 
 ## [Unreleased]
 
-### Changed
-- The unstable `required_version` configuration option now defaults to a caret (`^`) semver requirement instead of an exact match when no comparator is given, matching how Cargo treats dependency version requirements. Use the explicit `=` operator (e.g. `required_version = "=1.2.3"`) to opt back into exact matching [#6729](https://github.com/rust-lang/rustfmt/issues/6729)
+<!-- These changes will be available on the stable released channel alongside Rust 1.101 -->
+## [1.12.0] 2026-12-24
 
+### Changed
+- The unstable `required_version` configuration option now defaults to a caret (`^`) semver requirement instead of an exact match when no comparator is given, matching how Cargo treats dependency version requirements. Use the explicit `=` operator (e.g. `required_version = "=1.2.3"`) to opt back into exact matching [#6729](https://github.com/rust-lang/rustfmt/issues/6729) [#7048](https://github.com/rust-lang/rustfmt/pull/7048)
+> [!IMPORTANT]
+> Potential breaking changes:
+> - When `--config-path` is a directory, rustfmt now also searches its parent directories for config files [#4660](https://github.com/rust-lang/rustfmt/issues/4660) [#7115](https://github.com/rust-lang/rustfmt/pull/7115)
+> - Chains with comments now format under `use_try_shorthand=true` [#6121](https://github.com/rust-lang/rustfmt/issues/6121) [#7095](https://github.com/rust-lang/rustfmt/pull/7095)
+> - Error on `--print-config minimal` with no output path [#7208](https://github.com/rust-lang/rustfmt/pull/7208)
+>   - Previously, this printed a warning and exited with `0`.
+
+### Fixed
+- Fix ragged statement comment wrapping under unstable option `wrap_comments=true` and `comment_width` [#7167](https://github.com/rust-lang/rustfmt/issues/7167) [#7170](https://github.com/rust-lang/rustfmt/pull/7170)
+- Enforce comment width in item lists [#7174](https://github.com/rust-lang/rustfmt/pull/7174)
+- Fix lookup of global config files [#7178](https://github.com/rust-lang/rustfmt/issues/7178) [#7179](https://github.com/rust-lang/rustfmt/pull/7179)
+- Don't remove empty generic args when formatting in a macro context [#7136](https://github.com/rust-lang/rustfmt/issues/7136) [#7181](https://github.com/rust-lang/rustfmt/pull/7181)
+- Various `cfg_select!` fixes. Note that `cfg_select!` formatting is still nightly-gated.
+  - Fix `cfg_select!` parser recovery handling and error count leak [#7171](https://github.com/rust-lang/rustfmt/pull/7171)
+  - Don't remove necessary blocks when formatting `cfg_select!` arms [#7045](https://github.com/rust-lang/rustfmt/issues/7045) [#7183](https://github.com/rust-lang/rustfmt/pull/7183)
+  - Prevent more comment loss in `cfg_select!` [#7209](https://github.com/rust-lang/rustfmt/issues/7209) [rust-lang/rust#164815](https://github.com/rust-lang/rust/pull/164815)
+  - Don't lose comments and attributes between `cfg_select!` predicates, outer/inner blocks, arm body and trailing commas [#7209](https://github.com/rust-lang/rustfmt/issues/7209) [#7211](https://github.com/rust-lang/rustfmt/pull/7211)
+  - Have `cfg_select!` double-brace concise formatting respect `control_brace_style` unstable option [#7214](https://github.com/rust-lang/rustfmt/pull/7214)
+- Prevent rustfmt from removing expression attributes when removing nested parentheses [#7190](https://github.com/rust-lang/rustfmt/issues/7190) [#7192](https://github.com/rust-lang/rustfmt/pull/7192)
+- Fix `cfg_if!` error count leaks [#7195](https://github.com/rust-lang/rustfmt/pull/7195)
+- Format comments after `where` clauses using `clause_shape` budget (affecting unstable options `wrap_comments=true` and `comment_width`) [#7148](https://github.com/rust-lang/rustfmt/issues/7148) [#7156](https://github.com/rust-lang/rustfmt/pull/7156)
+- Fix ICE on failure to format generics in enum [#5738](https://github.com/rust-lang/rustfmt/issues/5738) [#6137](https://github.com/rust-lang/rustfmt/issues/6137) [#6318](https://github.com/rust-lang/rustfmt/issues/6318) [#6646](https://github.com/rust-lang/rustfmt/issues/6646) [#6396](https://github.com/rust-lang/rustfmt/pull/6396)
+- Avoid leaking wrapper space from doc comment code block formatting (affecting unstable options `format_code_in_doc_comments=true` and `fn_single_line=true`) [#6832](https://github.com/rust-lang/rustfmt/issues/6832) [#6851](https://github.com/rust-lang/rustfmt/pull/6851)
 
 <!-- These changes will be available on the stable released channel alongside Rust 1.100 -->
 ## [1.11.0] 2026-11-12
@@ -28,7 +53,6 @@
 - Correct visibility and defaultness order on associated impl type alias [#7064](https://github.com/rust-lang/rustfmt/pull/7064).
 - Correctly calculate the `shape` for inline const blocks when using `style_edition=2027` [#7065](https://github.com/rust-lang/rustfmt/pull/7065).
 - Prevent invalid code generation in macros that use raw identifiers [#7110](https://github.com/rust-lang/rustfmt/pull/7110).
-- Prevent rustfmt from reporting on `max_width` configuration issues when formatting macros [#6651](https://github.com/rust-lang/rustfmt/pull/6651).
 
 ### Changed
 - No longer apply `use_field_init_shorthand` when formatting macros [#6981](https://github.com/rust-lang/rustfmt/pull/6981).
diff --git a/Cargo.lock b/Cargo.lock
index b83c8ec9612..38d5f7724e8 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -582,7 +582,7 @@ dependencies = [
 
 [[package]]
 name = "rustfmt-nightly"
-version = "1.11.0"
+version = "1.12.0"
 dependencies = [
  "annotate-snippets",
  "anyhow",
diff --git a/Cargo.toml b/Cargo.toml
index 9e689fc0041..78ee1fb2742 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "rustfmt-nightly"
-version = "1.11.0"
+version = "1.12.0"
 description = "Tool to find and fix Rust formatting issues"
 repository = "https://github.com/rust-lang/rustfmt"
 license = "Apache-2.0 OR MIT"
diff --git a/rust-toolchain.toml b/rust-toolchain.toml
index d621e4fb084..0a85b69efd3 100644
--- a/rust-toolchain.toml
+++ b/rust-toolchain.toml
@@ -1,3 +1,3 @@
 [toolchain]
-channel = "nightly-2026-10-22"
+channel = "nightly-2026-11-02"
 components = ["llvm-tools", "rustc-dev"]
diff --git a/src/parse/session.rs b/src/parse/session.rs
index c61b43492ce..0df19406607 100644
--- a/src/parse/session.rs
+++ b/src/parse/session.rs
@@ -195,9 +195,7 @@ impl ParseSess {
     }
 
     pub(crate) fn span_to_file_contents(&self, span: Span) -> Arc<rustc_span::SourceFile> {
-        self.raw_psess
-            .source_map()
-            .lookup_source_file(span.data().lo)
+        self.raw_psess.source_map().lookup_source_file(span.lo())
     }
 
     pub(crate) fn span_to_first_line_string(&self, span: Span) -> String {
diff --git a/tests/source/cfg_select/cfg_select_edge_cases.rs b/tests/source/cfg_select/cfg_select_edge_cases.rs
index cec0bb4b9c2..8bf6a3240a9 100644
--- a/tests/source/cfg_select/cfg_select_edge_cases.rs
+++ b/tests/source/cfg_select/cfg_select_edge_cases.rs
@@ -61,6 +61,12 @@ fn cfg_select_comments_that_might_get_lost() {
         // before closing brace
         }
     }
+    cfg_select! {
+        _ => { /* after opening brace */
+            { x }
+        /* before closing brace */
+        }
+    }
     cfg_select! {
         _ => /* after => */ {{ x }}
     }
diff --git a/tests/target/cfg_select/cfg_select_edge_cases.rs b/tests/target/cfg_select/cfg_select_edge_cases.rs
index 6b2f713116e..ea6eaf92056 100644
--- a/tests/target/cfg_select/cfg_select_edge_cases.rs
+++ b/tests/target/cfg_select/cfg_select_edge_cases.rs
@@ -78,6 +78,13 @@ fn cfg_select_comments_that_might_get_lost() {
             // before closing brace
         }
     }
+    cfg_select! {
+        _ => {
+            /* after opening brace */
+            { x }
+            /* before closing brace */
+        }
+    }
     cfg_select! {
         _ =>
         /* after => */
diff --git a/tests/target/issue_7209.rs b/tests/target/issue_7209.rs
new file mode 100644
index 00000000000..0d7d015459a
--- /dev/null
+++ b/tests/target/issue_7209.rs
@@ -0,0 +1,28 @@
+//@ rustfmt-unstable: true
+
+fn gettid() -> u64 {
+    cfg_select! {
+        any(target_os = "android", target_os = "linux") => gettid_linux_like(),
+        any(target_os = "nto", target_os = "qnx") => unsafe { libc::gettid() as u64 },
+        target_os = "openbsd" => unsafe { libc::getthrid() as u64 },
+        target_os = "freebsd" => unsafe { libc::pthread_getthreadid_np() as u64 },
+        target_os = "netbsd" => unsafe { libc::_lwp_self() as u64 },
+        any(target_os = "solaris", target_os = "illumos") => {
+            // On Solaris and Illumos, the `pthread_t` is the OS TID.
+            unsafe { libc::pthread_self() as u64 }
+        }
+        target_vendor = "apple" => {
+            let mut id = 0u64;
+            let status: libc::c_int = unsafe { libc::pthread_threadid_np(0, &mut id) };
+            assert_eq!(status, 0);
+            id
+        }
+        windows => {
+            use windows_sys::Win32::System::Threading::GetCurrentThreadId;
+            unsafe { GetCurrentThreadId() as u64 }
+        }
+        _ => {
+            compile_error!("platform has no gettid")
+        }
+    }
+}