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Revisions in Estimates (Tables)

9 Months Ended

Sep. 30, 2024

Quarterly Financial Information Disclosure [Abstract]

Schedule of Change in Accounting Estimates

The projects with decreases from revisions in estimates, which individually had an impact of $5.0 million or more on gross profit, are summarized as follows (dollars in millions, except per share data):

			Three Months Ended September 30,																		Nine Months Ended September 30,
						2024									2023									2024									2023
Number of projects with downward estimate changes						—									1									4									3
Range of reduction in gross profit from each project, net			$			—						$			8.4						$			5.3 - 22.0						$			5.3 - 40.5
Decrease to project profitability, net			$			—						$			8.4						$			44.2						$			51.1
Decrease to net income			$			—						$			6.3						$			33.8						$			38.3
Amounts attributable to non-controlling interests			$			—						$			4.2						$			5.4						$			20.2
Decrease to net income attributable to Granite Construction Incorporated			$			—						$			2.1						$			28.5						$			18.1
Decrease to net income per diluted share attributable to common shareholders			$			—						$			0.04						$			0.54						$			0.41

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- References

No definition available.

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- Definition

Tabular disclosure of the change in an accounting estimate, including a change that occurs in an interim period. If a change in accounting estimate affects several future periods (for example, a change in the service life of a depreciable asset) disclose the effect on income from continuing operations, net income (or other appropriate captions of changes in the applicable net assets or performance indicator), and any related per-share amounts of the current period. Disclosure of the effects of a change in an accounting estimate that occurs in the ordinary course of business (such as uncollectible accounts or inventory obsolescence) is not required, unless the effect is material.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482989/270-10-45-14

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

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