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Other Noncurrent Assets | 3 Months Ended
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Mar. 31, 2018
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] |
Other Noncurrent Assets | Note 7—Other noncurrent assets:
| December 31, 2017 |  |  | March 31, 2018 |
| (In millions) |
Other noncurrent assets: |  |  |  |  |  |  |
Land held for development | $ | 126.6 |  |  | $ | 128.9 |
Restricted cash |  | 9.9 |  |  |  | 9.3 |
Land contract receivables |  | — |  |  |  | 9.9 |
IBNR receivables |  | 6.8 |  |  |  | 6.8 |
Pension asset |  | 4.2 |  |  |  | 6.2 |
Notes receivable - OPA |  | — |  |  |  | 3.1 |
Other |  | 26.6 |  |  |  | 25.4 |
Total | $ | 174.1 |  |  | $ | 189.6 |
Land contract receivables classified as a noncurrent asset relate to our Real Estate Management and Development Segment. Such receivables relate to certain fees we collect from builders when the builder sells a home to a customer, as discussed in Note 19. As disclosed in Note 18 to our 2017 Annual Report under an Owner Participation Agreement (“OPA”) entered into by LandWell with the Redevelopment Agency of the City of Henderson, Nevada, if LandWell develops certain real property for commercial and residential purposes in a master planned community in Henderson, Nevada, the cost of certain public infrastructure may be reimbursed to us through tax increment. The maximum reimbursement under the OPA is $209 million, and is subject to, among other things, completing construction of approved qualifying public infrastructure, transferring title of such infrastructure to the City of Henderson, receiving approval from the Redevelopment Agency of the funds expended to be eligible for tax increment reimbursement and the existence of a sufficient property tax valuation base and property tax rates in order to generate tax increment reimbursement funds. We are entitled to receive 75% of the tax increment generated by the master planned community through 2036, subject to the qualifications and limitations indicated above. Public infrastructure costs previously incurred for which the Redevelopment Agency had provided its approval for tax increment reimbursement but we had not yet received such reimbursement through tax increment receipts aggregated $3.1 million at December 31, 2017. Such amount is evidenced by a promissory note issued to LandWell by the City of Henderson. Prior to 2018, due to the significant uncertainty of the timing and amount of any of such potential tax increment reimbursements, we recognized any such tax increment reimbursements only when received. However, due to growth in the master planned community and the increase in tax increment funds to which we are entitled, we determined in the first quarter of 2018 we expected the tax increment reimbursements to be collected in the future would at least be sufficient to support recognizing the $3.1 million note payable issued by the City of Henderson to us. The note payable bears interest at 6% annually and the note expires in 2036. Any unpaid balances in 2036 are forfeit. See Note 13.

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