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Investments in Affiliates
 3 Months Ended
Mar. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Affiliates Investments in Affiliates
Our investments in affiliates balance consists of equity method investments in the following types of entities:
(in thousands)March 31, 2025December 31, 2024
Foreign$72,553 $72,075 
Real estate4,633 4,552 
Asphalt terminal16,481 17,404 
Total investments in affiliates$93,667 $94,031 
The following table provides summarized balance sheet information for our affiliates accounted for under the equity method on a combined basis:
(in thousands)March 31, 2025December 31, 2024
Current assets$189,152 $205,235 
Noncurrent assets134,813 130,451 
Total assets$323,965 $335,686 
Current liabilities$62,375 $68,679 
Long-term liabilities (1)45,790 45,007 
Total liabilities$108,165 $113,686 
Net assets$215,800 $222,000 
Granite’s share of net assets$93,667 $94,031 
(1)This balance is primarily related to local bank debt for equipment purchases and debt associated with our real estate ventures.
Affiliate assets as of March 31, 2025 included $249.2 million of foreign affiliate assets, $39.2 million of assets in real estate ventures and $35.6 million of assets in the asphalt terminal entity.