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Note 11 - Investments in Affiliates | 9 Months Ended
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Sep. 30, 2021
Notes to Financial Statements |
Investments in and Advances to Affiliates, Schedule of Investments [Text Block] | 11. Investments in Affiliates Our investments in affiliates balance consists of equity method investments in the following types of entities:
(in thousands) |  | September 30, 2021 |  |  | December 31, 2020 |  |  | September 30, 2020 |
Foreign |  | $ | 49,089 |  |  | $ | 47,650 |  |  | $ | 46,000 |
Real estate |  |  | 9,743 |  |  |  | 12,777 |  |  |  | 16,535 |
Asphalt terminal |  |  | 13,583 |  |  |  | 14,860 |  |  |  | 13,929 |
Total investments in affiliates |  | $ | 72,415 |  |  | $ | 75,287 |  |  | $ | 76,464 |
The following table provides summarized balance sheet information for our affiliates accounted for under the equity method on a combined basis:
(in thousands) |  | September 30, 2021 |  |  | December 31, 2020 |  |  | September 30, 2020 |
Current assets |  | $ | 162,503 |  |  | $ | 133,882 |  |  | $ | 116,712 |
Noncurrent assets |  |  | 161,700 |  |  |  | 164,620 |  |  |  | 165,292 |
Total assets |  |  | 324,203 |  |  |  | 298,502 |  |  |  | 282,004 |
Current liabilities |  |  | 80,145 |  |  |  | 52,583 |  |  |  | 48,478 |
Long-term liabilities (1) |  |  | 59,501 |  |  |  | 66,108 |  |  |  | 55,206 |
Total liabilities |  |  | 139,646 |  |  |  | 118,691 |  |  |  | 103,684 |
Net assets |  |  | 184,557 |  |  |  | 179,811 |  |  |  | 178,320 |
Granite’s share of net assets |  | $ | 72,415 |  |  | $ | 75,287 |  |  | $ | 76,464 |
(1) The balance primarily related to local bank debt for equipment purchases and working capital in our foreign affiliates, as well as debt associated with our real estate investments. Of the $324.2 million of total affiliate assets as of September 30, 2021, we had investments in thirteen foreign entities with total assets ranging from $0.1 million to $84.4 million, two real estate entities with total assets of $75.5 million and the asphalt terminal entity that had total assets of $33.4 million. We have direct and indirect investments in the foreign entities and our percent ownership ranged from 25% to 50% as of September 30, 2021. During the nine months ended September 30, 2020, we recorded a $9.6 million impairment charge related to our investment in foreign affiliates. See Note 3 for further discussion of the impairment charge. As of September 30, 2021 and December 31, 2020, all of the investments in real estate affiliates were in residential real estate in Texas. As of September 30, 2020, $13.2 million of the investments in real estate affiliates was in residential real estate in Texas and the remaining balance was in commercial real estate in Texas. Our percent ownership in the real estate entities was between 10% and 25% as of September 30, 2021.

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- Definition The entire disclosure for the information summarizing investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates. It reflects specified information about ownership, financial results from, and financial position in such entities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 + Details
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