Construction and Line Item Joint Ventures (Tables)

3 Months Ended

Mar. 31, 2012

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)	March 31, 2012		December 31, 2011		March 31, 2011
Assets:
Cash and cash equivalents¹	$	341,989	$	338,681	$	331,169
Other assets	236,712		264,901		204,066
Less partners’ interest	362,474		364,979		325,454
Granite’s interest	216,227		238,603		209,781
Liabilities:
Accounts payable	98,872		85,075		76,009
Billings in excess of costs and estimated earnings¹	240,043		280,650		278,132
Other liabilities	5,645		8,595		9,540
Less partners’ interest	220,284		236,746		232,673
Granite’s interest	124,276		137,574		131,008
Equity in construction joint ventures	$	91,951	$	101,029	$	78,773

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.



	Three Months Ended March 31,
(in thousands)	2012		2011
Revenue:
Total	$	205,832	$	199,768
Less partners’ interest¹	132,203		126,346
Granite’s interest	73,629		73,422
Cost of revenue:
Total	169,612		150,880
Less partners’ interest¹	109,240		101,864
Granite’s interest	60,372		49,016
Granite’s interest in gross profit	$	13,257	$	24,406

¹Partners’ interest represents amounts to reconcile total revenue and total cost of revenue as reported by our partners to Granite’s interest, adjusted to reflect our accounting policies.

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)	March 31, 2012		December 31, 2011		March 31, 2011
Cash and cash equivalents¹	$	69,423	$	75,122	$	107,978
Other current assets	40,410		33,750		26,666
Total current assets	109,833		108,872		134,644
Noncurrent assets	7,516		8,671		6,686
Total assets²	$	117,349	$	117,543	$	141,330

Accounts payable	$	28,591	$	38,193	$	25,952
Billings in excess of costs and estimated earnings¹	24,827		22,251		40,413
Accrued expenses and other current liabilities	5,640		5,129		8,526
Total current liabilities	59,058		65,573		74,891
Noncurrent liabilities	28		4		1
Total liabilities²	$	59,086	$	65,577	$	74,892

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.

²The 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.