XML 30 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Cash and Cash Equivalents and Marketable Securities
12 Months Ended
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:
 
 
 
December 31,
 
Recurring Fair
Value Measurement
 
 
2018
 
2017
 
 
 
(In thousands)
 
 
Cash and cash equivalents:
 

 

 
 
Cash
 
$
20,879

 
$
24,092

 
 
Money market funds
 
252,473

 
251,950

 
Level 2
Commercial paper
 

 
9,831

 
Level 2
Total cash and cash equivalents

$
273,352

 
$
285,873

 
 

 
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.