Cash and Cash Equivalents

9 Months Ended

Sep. 30, 2021

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 September 30,		As of December 31,
	2021		2020
	(in thousands)
	(unaudited)
Cash	$	63,753	$	52,335
Cash equivalents	29,761		53,198
Restricted cash - letters of credit	6,921		7,170
Total cash and cash equivalents	$	100,435	$	112,703

The carrying value of the Company’s cash equivalents approximates fair value. See “Note 4 — Fair Value of Financial Instruments”.

Letters of credit are secured by cash held on deposit.