Restricted cash and investments

9 Months Ended

Sep. 30, 2014

Restricted Short-term Investments

Restricted cash and investments

(H)Restricted Cash and Investments.    At September 30, 2014 and December 31, 2013, we had restricted cash and investments totaling $344,131,000 and $307,661,000, respectively, of which $96,432,000 and $34,975,000, respectively, was classified as long-term. Restricted cash balances consist primarily of funds posted as collateral by counterparties to our interest rate options. Restricted investments represent funds on deposit with the Rural Utilities Service in the Cushion of Credit Account. The restricted investments will be utilized for future Rural Utilities Service Federal Financing Bank debt service payments. The funds on deposit earn interest at a rate of 5% per annum.