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Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2011
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share Reconciliation
The following is a reconciliation of net income (loss) attributable to Granite and related weighted average shares of common stock outstanding for purposes of calculating basic and diluted net income (loss) per share using the two-class method:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(in thousands, except per share amounts)
 
2011
 
2010
 
2011
 
2010
Basic
 
 
 
 


 
 
 
 
Numerator:
 
 
 
 


 
 
 
 
Net income (loss) attributable to Granite
 
$
4,946


 
$
(6,691
)
 
$
(4,061
)
 
$
(47,645
)
Less: net income allocated to participating securities
 
65


 
—


 
—


 
—


Net income (loss) allocated to common shareholders for basic calculation
 
$
4,881


 
$
(6,691
)
 
$
(4,061
)
 
$
(47,645
)
 
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 


 
 
 
 
Weighted average common shares outstanding, basic 
 
38,140


 
37,850


 
38,052


 
37,770


Net income (loss) per share, basic
 
$
0.13


 
$
(0.18
)
 
$
(0.11
)
 
$
(1.26
)
 
 
 
 
 
 
 
 
 
Diluted
 
 
 
 


 
 
 
 
Numerator:
 
 
 
 


 
 
 
 
Net income (loss) attributable to Granite
 
$
4,946


 
$
(6,691
)
 
$
(4,061
)
 
$
(47,645
)
Less: net income allocated to participating securities
 
65


 
—


 
—


 
—


Net income (loss) allocated to common shareholders for diluted calculation
 
$
4,881


 
$
(6,691
)
 
$
(4,061
)
 
$
(47,645
)
 
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 


 
 
 
 
Weighted average common shares outstanding, diluted
 
38,479


 
37,850


 
38,052


 
37,770


Net income (loss) per share, diluted
 
$
0.13


 
$
(0.18
)
 
$
(0.11
)
 
$
(1.26
)