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Cash and Cash Equivalents and Restricted Time Deposits
9 Months Ended
Sep. 30, 2016
Cash and Cash Equivalents [Abstract]  
Cash and Cash Equivalents and Restricted Time Deposits
Cash and Cash Equivalents and Restricted Time Deposits

MRV accounts for highly liquid investments with an original maturity of 90 days or less as cash equivalents. Investments with maturities of less than one year are considered short-term and are included on the balance sheet in restricted time deposits. MRV maintains cash balances and investments in qualified financial institutions, and at various times such amounts are in excess of federally insured limits. As of September 30, 2016 and December 31, 2015, the Company's U.S. entities held $15.8 million and $21.6 million in cash and cash equivalents. The remaining $5.1 million and $4.6 million, respectively, were held by the Company's foreign subsidiaries in foreign bank deposit accounts.

Restricted time deposits represent investments that are restricted as to withdrawal or use and from time to time may include certificates of deposit. The investments in and releases of restricted time deposits are included in investing activities on the Company's Condensed Consolidated Statements of Cash Flows because the funds are invested in certificates of deposit. As of September 30, 2016 and December 31, 2015, the Company held $5.3 million and $5.2 million of restricted time deposits, respectively; $5.0 million of which represents a certificate of deposit with a highly rated financial institution and matures in December 2016. The remaining $0.3 million and $0.2 million of restricted time deposits held as of September 30, 2016 and December 31, 2015, respectively, represent security deposits that are restricted due to their respective agreements.