Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 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 (in thousands, except per share amounts):

Years Ended December 31,	2011		2010			2009
Basic
Numerator:
Net income (loss) attributable to Granite	$	51,161	$	(58,983	)	$	73,500
Less: net income allocated to participating securities	738		—			1,921
Net income (loss) allocated to common shareholders for basic calculation	$	50,423	$	(58,983	)	$	71,579
Denominator:
Weighted average common shares outstanding, basic	38,117		37,820			37,566
Net income (loss) per share, basic	$	1.32	$	(1.56	)	$	1.91
Diluted
Numerator:
Net income (loss) attributable to Granite	$	51,161	$	(58,983	)	$	73,500
Less: net income allocated to participating securities	732		—			1,915
Net income (loss) allocated to common shareholders for diluted calculation	$	50,429	$	(58,983	)	$	71,585
Denominator:
Weighted average common shares outstanding, diluted	38,473		37,820			37,683
Net income (loss) per share, diluted	$	1.31	$	(1.56	)	$	1.90