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Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2024
Business Combinations [Abstract]  
Schedule of Acquired Indefinite-Lived Intangible Assets
The following table lists identifiable intangible assets from the D&B acquisition that are included in intangible assets in the consolidated balance sheets as of December 31, 2024 (in thousands):
Useful Lives (Years) Gross Value Accumulated Amortization Net Value
Customer relationships20$18,200 $(379)$17,821 
Backlog 1600 (231)369 
Trademarks/trade name107,500 (312)7,188 
Permits 101,600 (58)1,542 
Total intangible assets $27,900 $(980)$26,920 
The following table lists identifiable intangible assets from the LRC/MSG acquisition that are included in intangible assets in the consolidated balance sheets as of December 31, 2024 (in thousands):
Useful Lives (Years) Gross Value Accumulated Amortization Net Value
Customer relationships20$78,860 $(4,272)$74,588 
Backlog 16,500 (6,500)— 
Trademarks/trade name1015,100 (1,636)13,464 
Permits 107,000 (758)6,242 
Total intangible assets $107,460 $(13,166)$94,294 
Schedule of Purchase Price and Assumed Liabilities
The following table presents the final purchase price allocation:
(in thousands)
Assets
Cash and cash equivalents$12,798 
Receivables18,373 
Contract assets3,388 
Inventories13,738 
Other current assets1,032 
Property and equipment86,329 
Right of use assets15,539 
Other noncurrent assets3,718 
Total tangible assets $154,915 
Identifiable intangible assets$107,460 
Liabilities
Accounts payable $6,806 
Contract liabilities3,213 
Accrued expenses and other current liabilities10,166 
Long-term lease liabilities15,558 
Other long-term liabilities5,960 
Total liabilities assumed$41,703 
Total tangible and identifiable net assets acquired $220,672 
Goodwill 72,744 
Purchase price $293,416 
Pro Forma Financial Information
The unaudited pro forma financial information in the table below summarizes the combined results of operations of Granite and D&B as though the companies had been combined as of January 1, 2023. The pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place on January 1, 2023, nor does it intend to be a projection of future results.
Years Ended December 31,20242023
(unaudited, in thousands, except per share amounts)
Revenue$4,062,791 $3,614,443 
Net income attributable to Granite Construction Incorporated
$134,470 $41,119 
Basic net income per share attributable to common shareholders$3.07 $0.94 
Diluted net income per share attributable to common shareholders$2.56 $0.78