XML 14 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents ($164,810 and $173,894 related to consolidated construction joint ventures (“CCJVs”)) $ 379,074 $ 578,330
Short-term marketable securities 43,708 7,311
Receivables, net ($42,960 and $33,708 related to CCJVs) 471,336 511,742
Contract assets ($52,345 and $115,834 related to CCJVs) 274,592 328,353
Inventories 128,432 108,175
Equity in construction joint ventures 151,499 140,928
Other current assets ($2,957 and $3,982 related to CCJVs) 50,646 41,824
Total current assets 1,499,287 1,716,663
Property and equipment, net ($5,872 and $6,792 related to CCJVs) 722,135 716,184
Long-term marketable securities 90,295 0
Investments in affiliates 93,667 94,031
Goodwill 214,296 214,465
Intangible assets 125,480 127,886
Right of use assets 94,839 89,791
Other noncurrent assets 67,101 66,635
Total assets 2,907,100 3,025,655
Current liabilities    
Current maturities of long-term debt 1,119 1,109
Accounts payable ($68,843 and $74,745 related to CCJVs) 375,392 407,223
Contract liabilities ($77,412 and $80,096 related to CCJVs) 280,493 299,671
Accrued expenses and other current liabilities ($4,098 and $4,706 related to CCJVs) 296,640 323,956
Total current liabilities 953,644 1,031,959
Long-term debt 738,595 737,939
Long-term lease liabilities 77,734 73,638
Deferred income taxes, net 13,792 13,874
Other long-term liabilities 85,043 88,882
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: 43,737,491 shares as of March 31, 2025 and 43,424,646 shares as of December 31, 2024 437 434
Additional paid-in capital 427,804 410,739
Accumulated other comprehensive income (loss) 65 (582)
Retained earnings 565,223 604,635
Total Granite Construction Incorporated shareholders’ equity 993,529 1,015,226
Non-controlling interests 44,763 64,137
Total equity 1,038,292 1,079,363
Total liabilities and equity $ 2,907,100 $ 3,025,655