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Other income, net

9 Months Ended

Sep. 30, 2025

Other income, net

Other income, net

Note 12 – Other income, net:

​

​	​	​	​	​	​	​
​	​	Nine months ended
​	​	September 30,
​		2024			2025
​	​	(In millions)
Interest income and other:		​			​
Interest and dividends		$	16.3		$	12.3
Securities transactions, net	​	​	.3	​	​	.3
Total	​	​	16.6	​	​	12.6
Infrastructure reimbursement	​	​	14.6	​	​	34.5
Currency transactions, net	​	​	4.9	​	​	3.2
Other, net	​	​	5.0	​	​	2.2
Total	​	$	41.1	​	$	52.5

​

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 $14.2 million (all in the third quarter) and $34.2 million ($17.2 million in the second quarter and $17.0 million in the third quarter) during the first nine months of 2024 and 2025, respectively, 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 $.4 million and $.3 million in reimbursement during the first nine months of 2024 and 2025, respectively, for past costs incurred.

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- Definition

The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 720
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/720/tableOfContent

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Topic 610
-Publisher FASB
-URI https://asc.fasb.org/610/tableOfContent

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