Basis of Presentation, Summary of Significant Accounting Policies and Change in Accounting Principle (Tables)

6 Months Ended

Jun. 30, 2017

Schedule of restricted cash and cash equivalents

Restricted cash and restricted investments include cash and investments used to collateralize various contractual obligations (in thousands) as follows:



	As of			As of
	June 30,		December 31,
	2017			2016
Collateral for letters of credit
for facility leases ⁽¹⁾	$	3,928		$	4,852
Collateral with financial institutions ⁽²⁾	8,150			4,950
Pharmacy benefit management
and claims processing services ⁽³⁾	8,618			30,555
Other	1,423			59
Total restricted cash
and restricted investments	22,119			40,416

Non-current restricted investments ⁽²⁾	8,150			4,950
Non-current restricted cash ⁽¹⁾	3,711			1,050
Total non-current restricted cash
and restricted investments	11,861			6,000
Current restricted cash
and restricted investments	$	10,258		$	34,416

⁽¹⁾ Represents restricted cash related to collateral for letters of credit required in conjunction with lease agreements. See Note 9 for further discussion of our lease commitments.

⁽²⁾ Represents collateral for letters of credit held with financial institutions for risk-sharing arrangements. The collateral amount is invested in restricted certificates of deposit with original maturities in excess of 12 months. The restricted investments are classified as held-to-maturity and stated at amortized cost. Fair value of the certificates of deposit is determined using Level 2 inputs and approximates amortized cost as of June 30, 2017. See Note 9 for further discussion of our risk-sharing arrangements.

⁽³⁾ Represents cash held on behalf of partners to process PBM and other claims.