Other Income, Net

3 Months Ended

Mar. 31, 2022

Other Income And Expenses [Abstract]

Other Income, Net

Note 11 – Other income, net:

	Three months ended
	March 31,
	2021		2022
	(In millions)
Interest income and other:
Interest and dividends	$	.9	$	1.1
Securities transactions, net		—		(.2)
Total		.9		.9
Infrastructure reimbursements		6.2		—
Currency transactions, net		(.5)		(1.5)
Other, net		.4		.6
Total	$	7.0	$	—

Infrastructure reimbursement – As disclosed in Note 7 to our 2021 Annual Report, under an Owner Participation Agreement (“OPA”) entered into by LandWell with the Redevelopment Agency of the City of Henderson, Nevada, as LandWell develops certain real property for commercial and residential purposes in its master planned community in Henderson, Nevada, the cost of certain public infrastructure may be reimbursed to LandWell through tax increment. During the first three months of 2021, LandWell received approval for additional tax increment reimbursement of $6.2 million which was recognized as other income and is evidenced by a promissory note issued to LandWell by the City of Henderson.