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Financial Instruments
 12 Months Ended
Dec. 31, 2019
Cash and Cash Equivalents [Abstract]  
Financial Instruments
Financial Instruments
Cash, Cash Equivalents and Restricted Cash
The carrying value of cash and cash equivalents approximate fair value and are as follows (in thousands):
 
 
December 31,
 
 
2019
 
2018
As Held:
 
 
 
 
Cash
 
$
100,773

 
$
136,642

Money market funds
 
276,615

 
143,843

 
 
$
377,388

 
$
280,485

As Reported:
 
 
 
 
Cash and cash equivalents
 
$
202,823

 
$
220,728

Restricted cash
 
174,565

 
59,757

 
 
$
377,388

 
$
280,485


Restricted cash consisted of the following (in thousands):
 
 
December 31,
 
 
2019
 
2018
Current:
 
 
 
 
Restricted cash
 
$
28,494

 
$
25,740

Restricted cash related to PPA Entities
 
2,310

 
2,917

Restricted cash, current
 
$
30,804

 
$
28,657

Non-current:
 
 
 
 
Restricted cash
 
$
10

 
$
3,246

Restricted cash related to PPA Entities 1
 
143,751

 
27,854

Restricted cash, non-current
 
143,761

 
31,100

 
 
$
174,565

 
$
59,757


1 We have variable interest entities which represent a portion of the consolidated balances are recorded within the "restricted cash," and other financial statement line items in the Consolidated Balance Sheets (see Note 13, Power Purchase Agreement Programs). This amount includes $108.7 million and $20.0 million of restricted cash non-current, held in PPA II and PPA IIIb entities, respectively. As of December 31, 2019, such entities are no longer considered variable interest entities.
Short-Term Investments
As of December 31, 2019, we had no short-term investments. As of December 31, 2018, we had short-term investments in U.S. Treasury Bills of $104.4 million.
Derivative Instruments
We have derivative financial instruments related to natural gas fixed price forward contracts and interest rate swaps. See Note 8, Derivative Financial Instruments for a full description of our derivative financial instruments.