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Cash and Cash Equivalents
12 Months Ended
Dec. 31, 2018
Cash and Cash Equivalents [Abstract]  
Cash and Cash Equivalents
4.
Cash and Cash Equivalents

The Company considers all highly liquid investments with original or remaining maturities of three months or less at the time of purchase to be cash equivalents. Cash and cash equivalents include cash balances held by our consolidated 50% owned subsidiaries and our majority owned construction joint ventures. At December 31, 2018 and 2017, cash and cash equivalents included $31.0 million and $31.1 million, respectively, attributable to our consolidated 50% owned subsidiaries. At December 31, 2018 and 2017, cash and cash equivalents included $20.5 million and $18.9 million, respectively, attributable to our majority owned construction joint ventures. Majority owned construction joint ventures and consolidated 50% owned subsidiaries cash balances are limited to joint venture activities and are not available for other projects, general cash needs or distribution to Sterling without approval of the board of directors, or equivalent body, of the respective joint ventures.

Restricted cash of approximately $3.9 million and $3.6 million is included in "Other current assets" on the consolidated balance sheet as of December 31, 2018 and 2017. This represents $3.9 million and $3.0 million of cash deposited by the Company into a separate account and designated as collateral for a standby letter of credit in the same amount in accordance with contractual agreements, respectively. In addition, the December 31, 2017 balance includes approximately $0.6 million of cash deposited by a customer, for the benefit of the Company, in an escrow account which was released upon completion of the job.

The Company holds cash on deposit in U.S. banks, at times, in excess of federally insured limits. Management believes that the risk associated with keeping cash deposits in excess of federal deposit insurance is not material.