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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2021
Fair Value Disclosures [Abstract] |
Assets and Liabilities Measured at Fair Value on Recurring Basis | The following fair value hierarchy table presents the Company’s assets that are measured at fair value on a recurring basis as of June 30, 2021 and December 31, 2020:
| As of June 30, 2021 |  | As of December 31, 2020
| Fair Value Hierarchy |  |  |  | Fair Value Hierarchy |  |
(in thousands) | Level 1 | Level 2 | Level 3 |  | Total |  | Level 1 | Level 2 | Level 3 |  | Total
Cash and cash equivalents(a) | $ | 231,129 |  | $ | — |  | $ | — |  |  | $ | 231,129 |  |  | $ | 374,289 |  | $ | — |  | $ | — |  |  | $ | 374,289 |
Restricted cash(a) | 2,884 |  | — |  | — |  |  | 2,884 |  |  | 77,563 |  | — |  | — |  |  | 77,563 |
Restricted investments(b) | — |  | 85,545 |  | — |  |  | 85,545 |  |  | — |  | 78,912 |  | — |  |  | 78,912 |
Investments in lieu of retainage(c) | 45,803 |  | 55,174 |  | — |  |  | 100,977 |  |  | 92,609 |  | 1,300 |  | — |  |  | 93,909 |
Total | $ | 279,816 |  | $ | 140,719 |  | $ | — |  |  | $ | 420,535 |  |  | $ | 544,461 |  | $ | 80,212 |  | $ | — |  |  | $ | 624,673 |
____________________________________________________________________________________________________ (a)Includes money market funds and short-term investments with maturity dates of three months or less when acquired. (b)Restricted investments, as of June 30, 2021, consist of investments in corporate debt securities of $43.9 million, U.S. government agency securities of $40.7 million and corporate certificates of deposits of $0.9 million with maturities of up to five years, and are valued based on pricing models, which are determined from a compilation of primarily observable market information, broker quotes in non-active markets or similar assets and are therefore classified as Level 2 assets. As of December 31, 2020, restricted investments consisted of investments in U.S. government agency securities of $40.5 million, corporate debt securities of $37.5 million, and corporate certificates of deposits of $0.9 million with maturities of up to five years. The amortized cost of these available-for-sale securities at June 30, 2021 and December 31, 2020 was not materially different from the fair value. (c)Investments in lieu of retainage are included in retainage receivable and as of June 30, 2021 are comprised of money market funds of $45.8 million, corporate debt securities of $53.9 million and municipal bonds of $1.3 million. The fair values of the money market funds are measured using quoted market prices; therefore, they are classified as Level 1 assets. The fair values of corporate and municipal bonds have maturity periods up to five years, and are determined from a compilation of primarily observable market information, third-party quoted market prices, broker quotes in non-active markets or similar assets; therefore, they are classified as Level 2 assets. As of December 31, 2020, investments in lieu of retainage consisted of money market funds of $92.6 million and municipal bonds of $1.3 million. The amortized cost of these available-for-sale securities at June 30, 2021 and December 31, 2020 was not materially different from the fair value.

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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