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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents ($149,068 and $120,224 related to consolidated construction joint ventures (“CCJVs”)) $ 462,286 $ 417,663
Short-term marketable securities 10,147 35,863
Receivables, net ($50,372 and $62,040 related to CCJVs) 733,018 598,705
Contract assets ($106,320 and $68,520 related to CCJVs) 321,653 262,987
Inventories 107,973 103,898
Equity in construction joint ventures 144,097 171,233
Other current assets ($5,034 and $5,590 related to CCJVs) 34,928 53,102
Total current assets 1,814,102 1,643,451
Property and equipment, net ($7,266 and $7,557 related to CCJVs) 719,678 662,864
Investments in affiliates 94,921 92,910
Goodwill 211,624 155,004
Intangible assets 131,579 117,322
Right of use assets 86,299 78,176
Deferred income taxes, net 4,990 8,179
Other noncurrent assets 67,732 55,634
Total assets 3,130,925 2,813,540
Current liabilities:    
Current maturities of long-term debt 1,099 39,932
Accounts payable ($83,515 and $62,755 related to CCJVs) 509,976 408,363
Contract liabilities ($58,878 and $50,929 related to CCJVs) 292,641 243,848
Accrued expenses and other current liabilities ($5,033 and $5,426 related to CCJVs) 361,110 337,740
Total current liabilities 1,164,826 1,029,883
Long-term debt 737,458 614,781
Long-term lease liabilities 70,981 63,548
Deferred income taxes, net 3,420 3,708
Other long-term liabilities 84,561 74,654
Commitments and contingencies
Equity:    
Preferred stock, $0.01 par value, authorized 3,000,000 shares, none outstanding 0 0
Common stock, $0.01 par value, authorized 150,000,000 shares; issued and outstanding: 43,704,841 shares as of September 30, 2024 and 43,944,118 shares as of December 31, 2023 437 439
Additional paid-in capital 437,343 474,134
Accumulated other comprehensive income 437 881
Retained earnings 568,877 501,844
Total Granite Construction Incorporated shareholders’ equity 1,007,094 977,298
Non-controlling interests 62,585 49,668
Total equity 1,069,679 1,026,966
Total liabilities and equity $ 3,130,925 $ 2,813,540