Other noncurrent assets

3 Months Ended

Mar. 31, 2025

Other noncurrent assets

Other noncurrent assets

Note 6 – Other noncurrent assets:

	December 31,		March 31,
	2024		2025
	(In millions)
Note receivables - OPA	$	91.6	$	84.2
Pension asset		19.8		21.3
Operating lease right-of-use assets		20.6		21.0
IBNR receivables		15.0		15.0
Land held for development		7.4		5.9
Restricted cash and cash equivalents		5.5		5.7
Other		21.4		18.6
Total	$	181.3	$	171.7

Note receivables - OPA – As disclosed in Note 7 to our 2024 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 2024 and 2025.