Other assets

3 Months Ended

Mar. 31, 2024

Other assets

Other assets

Note 6 – Other assets:

	December 31,		March 31,
	2023		2024
	(In millions)
Other noncurrent assets:
Restricted cash and cash equivalents	$	32.4	$	32.3
Note receivables - OPA		69.1		65.7
Operating lease right-of-use assets		22.7		21.8
Land held for development		19.4		16.9
IBNR receivables		13.4		13.3
Pension asset		8.1		8.4
Other		16.7		17.5
Total	$	181.8	$	175.9

Note receivables - OPA – As disclosed in Note 7 to our 2023 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. Once the tax increment reimbursement is approved, the amount is recognized as other income and is evidenced by a promissory note issued to LandWell by the City of Henderson. No additional tax increment amounts were approved during the first three months of 2023 and 2024.