Cash and Cash Equivalents and Marketable Securities |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents and Marketable Securities | 3. Cash and Cash Equivalents, Restricted Cash and Investments Cash and Cash Equivalents The following table summarizes the Company’s cash and cash equivalents:
Restricted Cash and Cash Equivalents The Company is required to maintain a minimum cash reserve within a debt service reserve account ("DSRA") for debt service related to its Credit Facility (see Note 7). As of December 31, 2018 and 2017, the Company’s restricted cash and cash equivalents balances, which include the minimum cash reserve for debt service and the interest earned on these amounts, were $191.9 million and $102.4 million, respectively. Marketable Securities As of December 31, 2018, the Company did not hold any investment positions in marketable securities. As of December 31, 2017, the Company held $11.8 million in marketable securities, consisting of fixed-income debt securities and U.S. treasuries. Marketable securities due to mature within one year had a fair value of $11.5 million, and marketable securities due to mature between one and three years had a fair value of $0.3 million. During the years ended December 31, 2018 and 2017, there were no material realized gains or losses. |