Table:
|  |  | As of December 31, |  |
| --- | --- | --- | --- |
|  | 2019 | 2018 | 2017 |
| Cash and cash equivalents | $119,629 | $146,061 | $96,329 |
| Accounts receivable, net | 76,373 | 49,510 | 40,634 |
| Working capital | 167,879 | 152,793 | 119,433 |
Paragraphs:
Liquidity and Capital Resources
Working Capital
The following table summarizes our cash and cash equivalents, accounts receivable, net and working capital, for the periods indicated (in thousands):
We define working capital as current assets minus current liabilities. Our cash and cash equivalents as of December 31, 2019 are available for working capital purposes. We do not enter into investments for trading purposes, and our investment policy is to invest any excess cash in short term, highly liquid investments that limit the risk of principal loss; therefore, our cash and cash equivalents are held in demand deposit accounts that generate very low returns.
Question:
How did the company define working capital?
Answer: current assets minus current liabilities.