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OHL USA, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2020 Note 2 - Summary of Significant Accountinq Policies (cont'd.) Cash, Cash Equivalents, and Restricted Cash (cont'd.) Cash and cash equivalents $ 205,411,107 Restricted cash 5,548,020 Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows $ 210,959,127 Marketable Securities The Company determines the cost of marketable debt securities by using the specific identification method for purposes of calculating realized gains or losses. Marketable debt securities - available for sale are recorded at fair value, with the unrealized appreciation or depreciation in their fair value being recognized as a component of accumulated other comprehensive income or loss. Marketable debt securities - held to maturity are recorded at amortized cost, adjusted for the amortization or accretion of premiums or discounts. A decline in the market value of any held -to -maturity marketable debt security below cost that is deemed to be other -than -temporary results in an impairment to reduce the carrying amount to fair value. The Company did not record any impairment during the year ended December 31, 2020. Accounts Receivable The Company carries its accounts receivable at cost less an allowance for doubtful accounts. The Company estimates the allowance for doubtful accounts based upon a review of outstanding receivables and historical collection information by customer. Normally, accounts receivable are due within 30 days after the date of the invoice. Receivables more than 90 days old are considered past due. Accounts receivable are written off when they are determined to be uncollectible. The Company does not accrue interest on past due receivables. At December 31, 2020, there is no allowance for doubtful accounts. Contract Receivables The Company carries its contract receivab,es at cost less an allowance for doubtful accounts. The Company estimates the allowance for doubtful accounts based upon a review of outstanding receivables and historical collection information by customer. Normally, contract receivables are due within 30 days after t'ne date of the requisition. Contract retentions are generally due within 30 days after completion of the project and acceptance by the owner. Where the contract provides for guarantee retainage provisions, such retainage is generally due within one year of completion and acceptance of the project. Receivables more than 90 days old are considered past due. Contract receivables are written off when they are determined to be uncollectible. The Company does not accrue interest on past due receivables. Under the typical contract provisions for the Company, payment of retainage is only subject to the passage of time, so the Company includes unbilled retainage in accounts receivable during performance on contracts even though the amount may be subject to refund in the future. 18