Real Estate Entities and Investments in Affiliates (Tables)

6 Months Ended

Jun. 30, 2011

Real Estate Entities and Investments in Affiliates [Abstract]

Schedule of Consolidated Real Estate Entities [Table Text Block]

Consolidated Real Estate Entities

The carrying amounts and classification of assets and liabilities of real estate entities we are required to consolidate are included in our condensed consolidated financial statements as follows:



(in thousands)	June 30, 2011		December 31, 2010		June 30, 2010
Real estate held for development and sale	$	78,725	$	75,716	$	148,897
Other current assets	3,011		2,453		3,893
Total current assets	81,736		78,169		152,790
Property and equipment, net	203		3,771		7,894
Other noncurrent assets	—		1,095		2,081
Total assets	$	81,939	$	83,035	$	162,765

Current maturities of non-recourse debt	$	15,954	$	29,760	$	39,657
Other current liabilities	2,045		2,619		4,189
Total current liabilities	17,999		32,379		43,846
Long-term non-recourse debt	28,907		25,337		16,615
Other noncurrent liabilities	313		404		451
Total liabilities	$	47,219	$	58,120	$	60,912

Schedule of Real Estate Inventory Held For Sale [Table Text Block]

The breakdown by type and location of our real estate held for development and sale is summarized below:



	June 30, 2011			December 31, 2010			June 30, 2010
(dollars in thousands)	Amount		Number of Projects	Amount		Number of Projects	Amount		Number of Projects
Residential	$	55,433	5	$	55,289	5	$	127,111	6
Commercial¹	23,292		7	20,427		5	21,786		5
Total	$	78,725	12	$	75,716	10	$	148,897	11

Washington	$	46,184	2	$	44,598	2	$	85,500	2
California¹	16,335		8	13,437		6	24,901		7
Texas	8,859		1	8,859		1	8,916		1
Oregon	7,347		1	8,822		1	29,580		1
Total	$	78,725	12	$	75,716	10	$	148,897	11

¹The increase in the number of projects from December 31, 2010 to June 30, 2011 is due to the reclassification of two projects from property and equipment to real estate held for development and sale. The reclassifications were due to a change in business plans for the projects in connection with our Enterprise Improvement Plan.

Schedule of Equity and Cost Method Investments

Our investments in affiliates balance consists of the following:



(in thousands)	June 30, 2011		December 31, 2010		June 30, 2010
Equity method investments in real estate affiliates¹	$	15,865	$	12,128	$	13,798
Equity method investments in other affiliates¹	10,617		12,882		11,012
Total equity method investments	26,482		25,010		24,810
Cost method investments	6,450		6,400		6,400
Total investments in affiliates	$	32,932	$	31,410	$	31,210

¹A reclassification of an investment between these categories has been made to the June 30, 2010 amounts to conform to current year presentation. This reclassification did not have a significant impact on our previously reported footnote disclosure.

Breakdown of Equity Method in Real Estate Affiliates by Type and Location

The breakdown by type and location of our interests in real estate ventures is summarized below:



	June 30, 2011			December 31, 2010			June 30, 2010
(dollars in thousands)	Amount		Number of Projects	Amount		Number of Projects	Amount		Number of Projects
Residential	$	11,391	2	$	9,029	2	$	8,894	2
Commercial	4,474		3	3,099		3	4,904		3
Total	$	15,865	5	$	12,128	5	$	13,798	5

Texas	$	15,865	5	$	12,128	5	$	13,798	5
Total	$	15,865	5	$	12,128	5	$	13,798	5

Equity Method Investment Summarized Balance Sheet Location [Table Text Block]

The following table provides summarized balance sheet information for our affiliates accounted for under the equity method on a 100% combined basis:



(in thousands)	June 30, 2011		December 31, 2010		June 30, 2010
Total assets	$	152,358	$	156,868	$	163,720
Net assets	79,666		84,368		87,027
Granite’s share of net assets	26,482		25,010		24,810