[DannyBee]

Uh, no. If it was "cash", or equivalent, it would be under "cash and cash equivalents". Marketable simply means they can be traded (IE they are not something like non-OTC stocks)

They may be long term instruments that they would take a loss on if they traded before maturity. Heck, they may be long term instruments that have trading restrictions on, etc.

It's simply not cash. Period.

[melvinmt]

If long term assets have trading restrictions they're not marketable. I get that it isn't cash cash in the most literate sense, it's liquid assets, which is nearly equivalent to cash, just like the "cash" in your bank account.