Construction and Line Item Joint Ventures (Tables)

9 Months Ended

Sep. 30, 2011

Construction and Line Item Joint Ventures [Abstract]

Schedule of Unconsolidated Joint Ventures [Table Text Block]

Following is summary financial information related to unconsolidated construction joint ventures:

(in thousands)	September 30, 2011		December 31, 2010		September 30, 2010
Assets:
Cash and cash equivalents1	$	356,399	$	318,408	$	273,173
Other assets	265,549		212,911		192,606
Less partners’ interest	378,523		324,485		287,616
Granite’s interest	243,425		206,834		178,163
Liabilities:
Accounts payable	85,602		72,658		49,767
Billings in excess of costs and estimated earnings1	302,039		282,702		211,822
Other liabilities	9,460		8,893		13,837
Less partners’ interest	251,091		232,135		177,759
Granite’s interest	146,010		132,118		97,667
Equity in construction joint ventures	$	97,415	$	74,716	$	80,496

¹The volume and stage of completion of contracts from our unconsolidated construction joint ventures may cause fluctuations in cash and cash equivalents as well as billings in excess of costs and estimated earnings between periods.

Schedule of Consolidated Joint Ventures [Table Text Block]

The carrying amounts and classification of assets and liabilities of construction joint ventures we are required to consolidate are included in our condensed consolidated financial statements as follows:

(in thousands)	September 30, 2011		December 31, 2010		September 30, 2010
Cash and cash equivalents1	$	65,350	$	109,380	$	103,367
Other current assets2	31,215		50,344		44,351
Total current assets	96,565		159,724		147,718
Noncurrent assets	9,821		2,561		894
Total assets3	$	106,386	$	162,285	$	148,612
Accounts payable	$	36,660	$	33,078	$	33,934
Billings in excess of costs and estimated earnings1	17,116		46,475		63,783
Accrued expenses and other current liabilities	5,997		11,633		11,195
Total current liabilities	59,773		91,186		108,912
Noncurrent liabilities	33		3		5
Total liabilities3	$	59,806	$	91,189	$	108,917

¹The volume and stage of completion of contracts from our consolidated construction joint ventures may cause fluctuations in cash and cash equivalents as well as billings in excess of costs and estimated earnings between periods.

²Prior period amounts have been revised to conform to current year presentation. The revisions had no impact on the consolidated balances or on the accounting for consolidated construction joint ventures.

³The assets and liabilities of each joint venture relate solely to that joint venture. The decision to distribute joint venture cash and cash equivalents and assets must generally be made jointly by all of the partners and, accordingly, these cash and cash equivalents and assets generally are not available for the working capital needs of Granite.