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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents ($153,994 and $145,584 related to consolidated construction joint ventures (“CCJVs”)) $ 265,714 $ 529,220
Short-term marketable securities 49,191 71,021
Receivables, net ($37,658 and $37,398 related to CCJVs) 636,513 630,392
Contract assets ($36,808 and $34,057 related to CCJVs) 283,979 236,879
Inventories 168,789 143,129
Equity in unconsolidated construction joint ventures 126,857 134,670
Other current assets ($3,343 and $3,255 related to CCJVs) 73,663 66,920
Total current assets 1,604,706 1,812,231
Property and equipment, net ($5,176 and $4,961 related to CCJVs) 1,242,501 1,260,823
Long-term marketable securities 32,616 49,534
Investments in affiliates 97,985 96,764
Goodwill 400,536 400,814
Intangible assets, net 174,496 179,548
Right of use assets 149,438 152,678
Other noncurrent assets 77,361 78,001
Total assets 3,779,639 4,030,393
Current liabilities:    
Current maturities of long-term debt 379,794 375,896
Accounts payable ($40,887 and $46,708 related to CCJVs) 430,306 430,298
Contract liabilities ($59,735 and $63,500 related to CCJVs) 356,860 327,372
Accrued expenses and other current liabilities ($3,159 and $2,922 related to CCJVs) 311,882 348,179
Total current liabilities 1,478,842 1,481,745
Long-term debt 861,187 963,233
Long-term lease liabilities 122,753 125,733
Deferred income taxes, net 143,458 141,489
Other long-term liabilities 92,359 96,660
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: 43,746,424 shares as of March 31, 2026 and 43,496,781 shares as of December 31, 2025 437 435
Additional paid-in capital 301,499 402,391
Accumulated other comprehensive income 2,995 1,581
Retained earnings 727,190 774,641
Total Granite Construction Incorporated shareholders’ equity 1,032,121 1,179,048
Non-controlling interests 48,919 42,485
Total equity 1,081,040 1,221,533
Total liabilities and equity $ 3,779,639 $ 4,030,393