Table:
|  | December 31, |  |
| --- | --- | --- |
|  | 2019 | 2018 |
|  | (in thousands) |  |
| Working capital | $115,208 | 110,044 |
| Cash and cash equivalents | $92,708 | $73,142 |
| Short-term restricted cash | 349 | 645 |
| Long-term restricted cash | 60 | 404 |
| Total cash and cash equivalents, restricted cash and investments | $93,117 | 74,191 |
Paragraphs:
Liquidity and Capital Resources
As of December 31, 2019, we had cash and cash equivalents of $92.7 million, restricted cash of $0.4 million, and net accounts receivable of $50.4 million. Additionally, as of December 31, 2019, our working capital was $115.2 million.
Our primary uses of cash are to fund operating expenses, purchases of inventory, property and equipment, intangible assets, and from time to time, the acquisition of businesses. We also use cash to pay down outstanding debt. Our cash and cash equivalents are impacted by the timing of when we pay expenses as reflected in the change in our outstanding accounts payable and accrued expenses.
Cash used to fund operating expenses in our consolidated statements of cash flows excludes the impact of non-cash items such as stock-based compensation, amortization and depreciation of acquired intangible assets, leased right-of-use assets and property and equipment, and impairment of intangible assets and long-lived assets. Cash used to fund acquisitions of businesses and other capital purchases is included in investing activities in our consolidated statements of cash flows.
Our primary sources of cash are cash receipts on accounts receivable from our shipment of products to distributors and direct customers. Aside from the amounts billed to our customers, net cash collections of accounts receivable are impacted by the efficiency of our cash collections process, which can vary from period to period depending on the payment cycles of our major distributor customers, and relative linearity of shipments period-to-period.
Our credit agreement, under which we entered into a term loan to partially fund our acquisition of Exar, permits us to request incremental loans in an aggregate principal amount not to exceed the sum of $160.0 million (subject to adjustments for any voluntary prepayments), plus an unlimited amount that is subject to pro forma compliance with certain secured leverage ratio and total leverage ratio tests. We have not requested any incremental loans to date.
Following is a summary of our working capital, cash and cash equivalents, and restricted cash for the periods indicated:
Question:
In which year was Cash and cash equivalents less than 90,000 thousands?
Answer: Because locate and analyze Cash and cash equivalents in row 4, the answer is: 2018.