Note 6 - Cash and Equivalents and Restricted Cash

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

Cash and Cash Equivalents Disclosure [Text Block]

6

.      

Cash and Equivalents and Restricted Cash

Cash and equivalents include cash on hand, demand deposits and all highly liquid short-term investments, including interest-bearing securities purchased with a maturity of

three

months or less from the date of purchase. At

September 30, 2017,

cash and equivalents included

$80.8

million of cash from home closings held in escrow for our benefit, typically for less than

five

days, which are considered deposits in-transit.

At

September 30, 2017,

homebuilding restricted cash represented

$29.6

million of cash held in cash collateral accounts primarily related to certain letters of credit that have been issued. Financial services restricted cash as of

September 30, 2017

consisted of

$17.7

million held in cash collateral accounts primarily related to certain letters of credit that have been issued,

$3.0

million related to our financial services subsidiary mortgage credit facility and

$0.5

million related to funds held in trust for

third

parties.