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Revisions in Estimates (Tables) | 6 Months Ended
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Jun. 30, 2025
Quarterly Financial Information Disclosure [Abstract] |
Schedule of Change in Accounting Estimates | The projects with increases 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 June 30, |  | Six Months Ended June 30,
|  |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024
Number of projects with upward estimate changes |  |  | 1 |  |  |  | — |  |  |  | 3 |  |  |  | 1 |
Range of increase in gross profit, net |  | $ | 6.8 |  |  | $ | — |  |  | $ | 6.3 - 9.8 |  | $ | 6.1 |
Increase to project profitability, net |  | $ | 6.8 |  |  | $ | — |  |  | $ | 22.9 |  |  | $ | 4.7 |
Increase to net income |  | $ | 5.1 |  |  | $ | — |  |  | $ | 17.1 |  |  | $ | 4.7 |
Increase to net income attributable to Granite Construction Incorporated |  | $ | 5.1 |  |  | $ | — |  |  | $ | 17.1 |  |  | $ | 4.7 |
Increase to net income per diluted share attributable to common shareholders |  | $ | 0.10 |  |  | $ | — |  |  | $ | 0.33 |  |  | $ | 0.11 |
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 June 30, |  | Six Months Ended June 30,
|  |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024
Number of projects with downward estimate changes |  |  | 1 |  |  |  | 2 |  |  |  | 2 |  |  |  | 3 |
Range of reduction in gross profit, net |  | $ | 5.4 |  |  | $ | 5.3 - 10.1 |  | $ | 6.8 - 14.3 |  | $ | 5.9 - 17.8
Decrease to project profitability, net |  | $ | 5.4 |  |  | $ | 15.5 |  |  | $ | 21.1 |  |  | $ | 30.2 |
Decrease to net income |  | $ | 4.1 |  |  | $ | 11.9 |  |  | $ | 15.8 |  |  | $ | 23.2 |
Amounts attributable to non-controlling interests |  | $ | — |  |  | $ | 2.7 |  |  | $ | — |  |  | $ | 3.2 |
Decrease to net income attributable to Granite Construction Incorporated |  | $ | 4.1 |  |  | $ | 9.2 |  |  | $ | 15.8 |  |  | $ | 19.9 |
Decrease to net income per diluted share attributable to common shareholders |  | $ | 0.08 |  |  | $ | 0.17 |  |  | $ | 0.30 |  |  | $ | 0.45 |

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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 + Details
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