Real Estate Entities and Investments in Affiliates (Tables)

9 Months Ended

Sep. 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 balance sheets as follows:



(in thousands)	September 30, 2011		December 31, 2010		September 30, 2010
Real estate held for development and sale	$	79,173	$	75,716	$	151,638
Other current assets	2,801		2,453		2,858
Total current assets	81,974		78,169		154,496
Property and equipment, net	—		3,771		8,156
Other noncurrent assets	—		1,095		2,005
Total assets	$	81,974	$	83,035	$	164,657

Current maturities of non-recourse debt	$	16,190	$	29,760	$	39,157
Other current liabilities	1,901		2,619		3,083
Total current liabilities	18,091		32,379		42,240
Long-term non-recourse debt	27,755		25,337		16,420
Other noncurrent liabilities	278		404		443
Total liabilities	$	46,124	$	58,120	$	59,103

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:



	September 30, 2011			December 31, 2010			September 30, 2010
(dollars in thousands)	Amount		Number of Projects	Amount		Number of Projects	Amount		Number of Projects
Residential	$	55,672	5	$	55,289	5	$	129,618	6
Commercial¹	23,501		7	20,427		5	22,020		5
Total	$	79,173	12	$	75,716	10	$	151,638	11

Washington	$	47,109	2	$	44,598	2	$	87,194	2
California¹	16,382		8	13,437		6	25,815		7
Texas	8,859		1	8,859		1	8,716		1
Oregon	6,823		1	8,822		1	29,913		1
Total	$	79,173	12	$	75,716	10	$	151,638	11

¹The increase in the number of projects from December 31, 2010 to September 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 [Table Text Block]

Our investments in affiliates balance consists of the following:



(in thousands)	September 30, 2011		December 31, 2010		September 30, 2010
Equity method investments in real estate affiliates	$	15,856	$	12,128	$	14,290
Equity method investments in other affiliates	11,129		12,882		11,825
Total equity method investments	26,985		25,010		26,115
Cost method investments	6,450		6,400		6,400
Total investments in affiliates	$	33,435	$	31,410	$	32,515

Breakdown of Equity Method in Real Estate Affiliates by Type and Location [Table Text Block]

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



	September 30, 2011			December 31, 2010			September 30, 2010
(dollars in thousands)	Amount		Number of Projects	Amount		Number of Projects	Amount		Number of Projects
Residential	$	11,511	2	$	9,029	2	$	8,893	2
Commercial	4,345		3	3,099		3	5,397		3
Total	$	15,856	5	$	12,128	5	$	14,290	5

Texas	$	15,856	5	$	12,128	5	$	14,290	5
Total	$	15,856	5	$	12,128	5	$	14,290	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)	September 30, 2011		December 31, 2010		September 30, 2010
Total assets	$	157,054	$	156,868	$	165,653
Net assets	80,306		84,368		88,530
Granite’s share of net assets	26,985		25,010		26,115