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Investments in Affiliates
 9 Months Ended
Sep. 30, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Affiliates Investments in Affiliates
Our investments in affiliates balance consists of equity method investments in the following types of entities:
(in thousands)September 30, 2025December 31, 2024
Foreign$74,158 $72,075 
Real estate4,509 4,552 
Asphalt terminal15,976 17,404 
Total investments in affiliates$94,643 $94,031 
The following table provides summarized balance sheet information for our affiliates accounted for under the equity method on a combined basis:
(in thousands)September 30, 2025December 31, 2024
Current assets$210,537 $205,235 
Noncurrent assets122,141 130,451 
Total assets$332,678 $335,686 
Current liabilities73,121 68,679 
Long-term liabilities (1)44,183 45,007 
Total liabilities$117,304 $113,686 
Net assets$215,374 $222,000 
Granite’s share of net assets$94,643 $94,031 
(1)This balance is primarily related to local bank debt for equipment purchases and debt associated with our real estate ventures.
Affiliate assets as of September 30, 2025 included $257.2 million of foreign affiliate assets, $39.4 million of assets in real estate ventures and $36.1 million of assets in the asphalt terminal entity.