Cash and Cash Equivalents

6 Months Ended

Jun. 30, 2017

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents

Cash and Cash Equivalents

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

	As of June 30,		As of December 31,
	2017		2016
	(in thousands, unaudited)		(in thousands)
Cash	$	56,086	$	85,047
Cash equivalents	7,488		9,013
Restricted cash - letters of credit	4,448		4,253
Total cash and cash equivalents	$	68,022	$	98,313

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

Letters of credit are secured by cash held on deposit.