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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents ($165,534 and $173,894 related to consolidated construction joint ventures (“CCJVs”)) $ 441,804 $ 578,330
Short-term marketable securities 105,437 7,311
Receivables, net ($38,836 and $33,708 related to CCJVs) 836,149 511,742
Contract assets ($31,942 and $115,834 related to CCJVs) 261,263 328,353
Inventories 145,239 108,175
Equity in construction joint ventures 154,152 140,928
Other current assets ($3,415 and $3,982 related to CCJVs) 36,023 41,824
Total current assets 1,980,067 1,716,663
Property and equipment, net ($5,240 and $6,792 related to CCJVs) 1,199,605 716,184
Long-term marketable securities 69,303 0
Investments in affiliates 94,643 94,031
Goodwill 391,660 214,465
Intangible assets, net 181,040 127,886
Right of use assets 152,406 89,791
Other noncurrent assets 76,596 66,635
Total assets 4,145,320 3,025,655
Current liabilities:    
Current maturities of long-term debt 371,990 1,109
Accounts payable ($43,562 and $74,745 related to CCJVs) 527,625 407,223
Contract liabilities ($68,319 and $80,096 related to CCJVs) 327,237 299,671
Accrued expenses and other current liabilities ($3,067 and $4,706 related to CCJVs) 407,425 323,956
Total current liabilities 1,634,277 1,031,959
Long-term debt 966,346 737,939
Long-term lease liabilities 125,915 73,638
Deferred income taxes, net 118,158 13,874
Other long-term liabilities 95,643 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: 43,736,765 shares as of September 30, 2025 and 43,424,646 shares as of December 31, 2024 437 434
Additional paid-in capital 426,143 410,739
Accumulated other comprehensive income (loss) 868 (582)
Retained earnings 728,332 604,635
Total Granite Construction Incorporated shareholders’ equity 1,155,780 1,015,226
Non-controlling interests 49,201 64,137
Total equity 1,204,981 1,079,363
Total liabilities and equity $ 4,145,320 $ 3,025,655