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2. Restricted Cash
12 Months Ended
Dec. 31, 2016
Cash and Cash Equivalents [Abstract]  
Restricted Cash

Restricted cash consists of cash and cash equivalent accounts relating to our outstanding securitization trusts and credit facilities. The amount of restricted cash on our Consolidated Balance Sheets was $112.8 million and $106.1 million as of December 31, 2016 and 2015, respectively.

 

Our securitization transactions and one of our warehouse credit facilities require that we establish cash reserves, or spread accounts, as additional credit enhancement. These cash reserves, which are included in restricted cash, were $40.8 million and $38.9 million as of December 31, 2016 and 2015, respectively.