Cash and Marketable Securities:

The components of our investments as of December 31, 2018 are as follows (in millions):



	Cash & Cash Equivalents		Restricted Cash		Restricted Marketable Securities		Total
Cash	$	69.2	$	64.3	$	—	$	133.5
Marketable securities	—		—		62.0		62.0
Total	$	69.2	$	64.3	$	62.0	$	195.5

The components of our investments as of December 31, 2017 are as follows (in millions):



	Cash & Cash Equivalents		Restricted Cash		Restricted Marketable Securities		Total
Cash	$	54.4	$	62.4	$	—	$	116.8
Marketable securities	—		—		62.0		62.0
Total	$	54.4	$	62.4	$	62.0	$	178.8

Restricted Cash—

As of December 31, 2018 and 2017, Restricted cash consisted of the following (in millions):



	As of December 31,
	2018		2017
Current:
Affiliate cash	$	16.4	$	18.1
Self-insured captive funds	42.6		44.3
	59.0		62.4
Noncurrent:
Self-insured captive funds	5.3		—
Total restricted cash	$	64.3	$	62.4

Affiliate cash represents cash accounts maintained by joint ventures in which we participate where one or more of our external partners requested, and we agreed, that the joint venture’s cash not be commingled with other corporate cash accounts and be used only to fund the operations of those joint ventures. Self-insured captive funds represent cash held at our wholly owned insurance captive, HCS, Ltd., as discussed in Note 10, Self-Insured Risks. These funds are committed to pay third-party administrators for claims incurred and are restricted by insurance regulations and requirements. These funds cannot be used for purposes outside HCS without the permission of the Cayman Islands Monetary Authority.

The classification of restricted cash held by HCS as current or noncurrent depends on the classification of the corresponding claims liability.

Marketable Securities—

Restricted marketable securities at both balance sheet dates represent restricted assets held at HCS. HCS insures a substantial portion of Encompass Health’s professional liability, workers’ compensation, and other insurance claims. These funds are committed for payment of claims incurred, and the classification of these marketable securities as current or noncurrent depends on the classification of the corresponding claims liability. As of December 31, 2018 and 2017, $62.0 million and $44.2 million, respectively, of restricted marketable securities are included in Other long-term assets in our consolidated balance sheets. As of December 31, 2018, $1.7 million of unrealized net losses were recognized in our consolidated statement of operations during 2018 on marketable securities were still held at the reporting date.

A summary of our restricted marketable securities as of December 31, 2017, as required for equity securities prior to ASU No. 2016-01, is as follows (in millions):



	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Marketable securities	$	64.0	$	0.3	$	(2.3	)	$	62.0

Cost in the above table includes adjustments made to the cost basis of our equity securities for other-than-temporary impairments. During the years ended December 31, 2017, and 2016, we did not record any impairment charges related to our restricted marketable securities.

Investing information related to our restricted marketable securities is as follows (in millions):



	For the Year Ended December 31,
	2018			2017		2016
Proceeds from sales of restricted marketable securities	$	11.4		$	4.0	$	—
Gross realized losses	$	(0.6	)	$	—	$	—

Our portfolio of marketable securities is comprised of investments in mutual funds that hold investments in a variety of industries and geographies. As discussed in Note 1, Summary of Significant Accounting Policies, “Marketable Securities,” and prior to ASU No. 2016-01, when our portfolio included marketable securities with unrealized losses that are not deemed to be other-than-temporarily impaired, we examined the severity and duration of the impairments in relation to the cost of the individual investments. We also considered the industry and geography in which each investment is held and the near-term prospects for a recovery in each.