Table:
|  | December 31, |  |
| --- | --- | --- |
|  | 2019 | 2018 |
| Cash | $8.2 | $9.5 |
| Cash equivalents | 7.2 | 10.8 |
| Cash and cash equivalents | $15.4 | $20.3 |
Paragraphs:
Cash and Cash Equivalents
Highly liquid instruments purchased with original maturities of three months or less are considered cash equivalents. Cash equivalents are invested with high credit quality financial institutions and consist of short-term investments, such as demand deposit accounts, money market accounts, money market funds and time deposits. The carrying amounts of these instruments reported in the Consolidated Balance Sheets approximate their fair value because of their immediate or short-term maturities.
Cash and cash equivalents are unrestricted and include the following (in millions):
Question:
What was considered by the company to be cash equivalents?
Answer: Highly liquid instruments purchased with original maturities of three months or less