The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets to the amounts shown in the Condensed Consolidated Statements of Cash Flows:


(in thousands)	As of March 31, 2026		As of December 31, 2025
Cash and cash equivalents available for general corporate purposes	$	320,901	$	270,715
Joint venture cash and cash equivalents	482,078		463,838
Cash and cash equivalents	802,979		734,553
Restricted cash	23,811		35,641
Total cash, cash equivalents and restricted cash	$	826,790	$	770,194

Cash equivalents include short-term, highly liquid investments with maturities of three months or less when acquired. Cash and cash equivalents consist of amounts available for the Company’s general purposes, the Company’s proportionate share of cash held by the Company’s unconsolidated joint ventures and 100% of amounts held by the Company’s consolidated joint ventures. In both cases, cash held by joint ventures is available only for joint venture-related uses, including future distributions to joint venture partners.

Restricted cash includes amounts primarily held as collateral to secure insurance-related contingent obligations, such as insurance claim deductibles, in lieu of letters of credit.