Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2017

Cash and Cash Equivalents [Abstract]

Note 4 — Cash and Cash Equivalents

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



	As of December 31,
	2017		2016
	(in thousands)
Cash	$	70,459	$	85,047
Cash equivalents	193,315		9,013
Restricted cash - letters of credit	3,872		4,253
Total cash and cash equivalents	$	267,646	$	98,313

The carrying value of the Company's cash equivalents approximates fair value. See "Note 8 — Fair Value of Financial Instruments".

Letters of credit were secured by cash held on deposit. See "Note 15 — Commitments and Contingencies".

Included as a component of investment revenues is interest income related to cash and cash equivalents of $0.6 million, $0.1 million and $0.2 million for the years ended December 31, 2017, 2016 and 2015, respectively.