Other income, net

6 Months Ended

Jun. 30, 2025

Other income, net

Other income, net

Note 12 – Other income, net:

	Six months ended
	June 30,
	2024		2025
	(In millions)
Interest income and other:
Interest and dividends	$	11.0	$	7.8
Securities transactions, net		.2		.2
Total		11.2		8.0
Infrastructure reimbursement		—		17.5
Currency transactions, net		2.0		5.0
Other, net		2.7		1.4
Total	$	15.9	$	31.9

Infrastructure reimbursement  – 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. LandWell received $17.2 million during the second quarter of 2025 which was recognized as other income and is evidenced by a promissory note issued to LandWell by the City of Henderson.

LandWell has agreements with certain utility providers servicing the Cadence master planned community under which certain costs incurred for the development of power infrastructure may be reimbursed to LandWell. LandWell received $.3 million in reimbursement during the second quarter of 2025 for past costs incurred.