Cash and Cash Equivalents

3 Months Ended

Mar. 31, 2017

Cash and Cash Equivalents [Abstract]

The carrying values of the Company's cash and cash equivalents are as follows:



	As of March 31,		As of December 31,
	2017		2016
	(in thousands, unaudited)
Cash	$	45,234	$	85,047
Cash equivalents	2,503		9,013
Restricted cash - letters of credit	4,256		4,253
Total cash and cash equivalents	$	51,993	$	98,313

The carrying value of the Company's cash equivalents approximates fair value.

Letters of credit are secured by cash held on deposit.

- Definition

The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.

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