Cash, Cash Equivalents and Restricted Cash	9 Months Ended
Cash, Cash Equivalents and Restricted Cash	Sep. 30, 2014
Cash, Cash Equivalents and Restricted Cash
Cash, Cash Equivalents and Restricted Cash	Note 5. Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents totaled $177.7 million and $228.0 million at September 30, 2014 and December 31, 2013, respectively. The Company considers all highly liquid short-term investments purchased with an original maturity of three months or less and cash held in escrow accounts to be cash equivalents. At September 30, 2014 and December 31, 2013, the Company had restricted cash of $109.2 million and $90.0 million, respectively. The Company has various secured letter of credit agreements that require it to maintain cash deposits as collateral for outstanding letters of credit. Cash restricted under these agreements totaled $108.7 million and $89.5 million at September 30, 2014 and December 31, 2013, respectively. In addition, Ryland Mortgage Company and RMC Mortgage Corporation and its subsidiaries (“RMCMC”), collectively referred to as “RMC,” had restricted cash that were related to funds held in trust for third parties of $538,000 and $487,000 at September 30, 2014 and December 31, 2013, respectively.

The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.

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