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Revisions in Estimates (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Changes and Error Corrections [Abstract]

Summary of Impact of Revisions in Estimates to Gross Profit

The projects with increases and 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):

Increases

Years Ended December 31,			2024									2023									2022
Number of projects with upward estimate changes						3									1									2
Range of increase in gross profit from each project, net			$			6.1 - 10.3						$			8.1						$			5.4 - 6.8
Increase to project profitability, net			$			25.6						$			8.1						$			12.1
Increase to net income			$			18.3						$			6.9						$			9.7
Amounts attributable to non-controlling interests			$			—						$			3.2						$			2.7
Increase to net income attributable to Granite Construction Incorporated			$			18.3						$			3.6						$			7.0
Increase to net income per diluted share attributable to common shareholders			$			0.35						$			0.07						$			0.13

Years Ended December 31,			2024									2023									2022
Number of projects with downward estimate changes						4									6									8
Range of reduction in gross profit from each project, net						$5.6 - 24.2									$5.1 - 54.9									$5.6 - 32.2
Decrease to project profitability, net			$			50.2						$			96.9						$			92.2
Decrease to net income			$			37.0						$			79.6						$			74.1
Amounts attributable to non-controlling interests			$			3.9						$			29.8						$			21.7
Decrease to net income attributable to Granite Construction Incorporated			$			33.1						$			49.8						$			52.4
Decrease to net income per diluted share attributable to common shareholders			$			0.63						$			0.95						$			1.00

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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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