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Revisions in Estimates (Tables) | 9 Months Ended
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Sep. 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 September 30, |  | Nine Months Ended September 30,
|  |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024
Number of projects with upward estimate changes |  |  | 2 |  |  |  | 2 |  |  |  | 7 |  |  |  | 2 |
Range of increase in gross profit, net |  | $ | 5.0 - 8.3 |  | $ | 5.4 - 5.7 |  | $ | 5.2 - 9.8 |  | $ | 5.2 - 6.2
Increase to project profitability, net |  | $ | 13.3 |  |  | $ | 11.1 |  |  | $ | 50.8 |  |  | $ | 11.4 |
Increase to net income |  | $ | 9.9 |  |  | $ | 8.5 |  |  | $ | 37.7 |  |  | $ | 8.7 |
Amounts attributable to non-controlling interests |  | $ | — |  |  | $ | — |  |  | $ | 5.1 |  |  | $ | — |
Increase to net income attributable to Granite Construction Incorporated |  | $ | 9.9 |  |  | $ | 8.5 |  |  | $ | 32.6 |  |  | $ | 8.7 |
Increase to net income per diluted share attributable to common shareholders |  | $ | 0.18 |  |  | $ | 0.16 |  |  | $ | 0.62 |  |  | $ | 0.17 |
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 September 30, |  | Nine Months Ended September 30,
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024
Number of projects with downward estimate changes |  | 1 |  |  |  | — |  |  |  | 3 |  |  |  | 4 |
Range of reduction in gross profit, net | $ | 5.9 |  | $ | — |  | $ | 6.8 - 15.1 |  | $ | 5.3 - 22.0
Decrease to project profitability, net | $ | 5.9 |  |  | $ | — |  |  | $ | 32.5 |  |  | $ | 44.2 |
Decrease to net income | $ | 4.4 |  |  | $ | — |  |  | $ | 24.1 |  |  | $ | 33.8 |
Amounts attributable to non-controlling interests | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 5.4 |
Decrease to net income attributable to Granite Construction Incorporated | $ | 4.4 |  |  | $ | — |  |  | $ | 24.1 |  |  | $ | 28.5 |
Decrease to net income per diluted share attributable to common shareholders | $ | 0.08 |  |  | $ | — |  |  | $ | 0.46 |  |  | $ | 0.54 |

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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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