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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents ($176,196 and $173,894 related to consolidated construction joint ventures (“CCJVs”)) $ 322,017 $ 578,330
Short-term marketable securities 63,284 7,311
Receivables, net ($45,577 and $33,708 related to CCJVs) 704,988 511,742
Contract assets ($32,132 and $115,834 related to CCJVs) 289,225 328,353
Inventories 126,483 108,175
Equity in construction joint ventures 153,455 140,928
Other current assets ($2,936 and $3,982 related to CCJVs) 32,163 41,824
Total current assets 1,691,615 1,716,663
Property and equipment, net ($5,397 and $6,792 related to CCJVs) 714,186 716,184
Long-term marketable securities 98,069 0
Investments in affiliates 95,093 94,031
Goodwill 215,165 214,465
Intangible assets, net 123,335 127,886
Right of use assets 99,595 89,791
Other noncurrent assets 68,933 66,635
Total assets 3,105,991 3,025,655
Current liabilities:    
Current maturities of long-term debt 7,337 1,109
Accounts payable ($51,078 and $74,745 related to CCJVs) 441,423 407,223
Contract liabilities ($70,482 and $80,096 related to CCJVs) 300,799 299,671
Accrued expenses and other current liabilities ($2,869 and $4,706 related to CCJVs) 326,592 323,956
Total current liabilities 1,076,151 1,031,959
Long-term debt 733,039 737,939
Long-term lease liabilities 81,473 73,638
Deferred income taxes, net 14,487 13,874
Other long-term liabilities 86,486 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: 43,778,784 shares as of June 30, 2025 and 43,424,646 shares as of December 31, 2024 438 434
Additional paid-in capital 430,155 410,739
Accumulated other comprehensive income (loss) 997 (582)
Retained earnings 631,158 604,635
Total Granite Construction Incorporated shareholders’ equity 1,062,748 1,015,226
Non-controlling interests 51,607 64,137
Total equity 1,114,355 1,079,363
Total liabilities and equity $ 3,105,991 $ 3,025,655