Real Estate Entities and Investments in Affiliates (Tables)

12 Months Ended

Dec. 31, 2011

Real Estate Entities and Investments in Affiliates [Abstract]

Schedule of 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 consolidated balance sheets as follows (in thousands):

December 31,	2011		2010
Real estate held for development and sale	$	67,037	$	75,716
Other current assets	4,715		2,453
Total current assets	71,752		78,169
Property and equipment, net	—		3,771
Other noncurrent assets	—		1,095
Total assets	$	71,752	$	83,035
Current maturities of non-recourse debt	$	22,571	$	29,760
Other current liabilities	1,794		2,619
Total current liabilities	24,365		32,379
Long-term non-recourse debt	9,912		25,337
Other noncurrent liabilities	74		404
Total liabilities	$	34,351	$	58,120

Schedule of Real Estate Inventory Held For Sale

The breakdown by type and location of our real estate held for development and sale is summarized below (dollars in thousands):

December 31,	2011			2010
	Amount		Number of Projects	Amount		Number of Projects
Residential	$	54,610	4	$	55,289	5
Commercial	12,427		5	20,427		5
Total	$	67,037	9	$	75,716	10
Washington	$	47,600	2	$	44,598	2
California	4,006		5	13,437		6
Texas	8,859		1	8,859		1
Oregon	6,572		1	8,822		1
Total	$	67,037	9	$	75,716	10

Schedule of Equity and Cost Method Investments

Our investments in affiliates balance consists of the following (in thousands):

December 31,	2011		2010
Equity method investments in real estate affiliates	$	16,478	$	12,128
Equity method investments in other affiliates	11,841		12,882
Total equity method investments	28,319		25,010
Cost method investments	2,752		6,400
Total investments in affiliates	$	31,071	$	31,410

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 (dollars in thousands):

December 31,	2011			2010
	Amount		Number of Projects	Amount		Number of Projects
Residential	$	11,903	2	$	9,029	2
Commercial	4,575		3	3,099		3
Total	$	16,478	5	$	12,128	5
Texas	$	16,478	5	$	12,128	5
Total	$	16,478	5	$	12,128	5

Equity Method Investment Summarized Balance Sheet Information

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

December 31,	2011		2010
Current assets	$	82,791	$	79,223
Long-term assets	74,980		77,645
Total assets	157,771		156,868
Current liabilities	9,321		6,108
Long-term liabilities	65,939		66,392
Total liabilities	75,260		72,500
Net assets	$	82,511	$	84,368
Granite’s share of net assets	$	28,319	$	25,010

Equity Method Investment Summarized Income Statement Information

The following table provides summarized statement of operations information for our affiliates accounted for under the equity method on a 100% combined basis (in thousands):

Years Ended December 31,	2011			2010			2009
Revenue	$	48,983		$	36,249		$	64,956
Gross profit	10,654			9,239			21,905
(Loss) income before taxes	(399		)	(5,026		)	13,508
Net (loss) income	(399		)	(5,026		)	13,508
Granite’s interest in affiliates’ net income	$	2,193		$	756		$	7,696