Earnings Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Earnings Per Share

We calculate earnings per share (“EPS”) under the two-class method by allocating earnings to both common shares and unvested restricted stock which are considered participating securities. However, net losses are not allocated to participating securities for purposes of computing EPS under the two-class method. 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:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per share amounts)	2012		2011		2012			2011
Basic
Numerator:
Net income (loss) attributable to Granite	$	1,949	$	4,946	$	(9,824	)	$	(4,061	)
Less: net income allocated to participating securities	10		65		—			—
Net income (loss) allocated to common shareholders for basic calculation	$	1,939	$	4,881	$	(9,824	)	$	(4,061	)
Denominator:
Weighted average common shares outstanding, basic	38,471		38,140		38,368			38,052
Net income (loss) per share, basic	$	0.05	$	0.13	$	(0.26	)	$	(0.11	)
Diluted
Numerator:
Net income (loss) attributable to Granite	$	1,949	$	4,946	$	(9,824	)	$	(4,061	)
Less: net income allocated to participating securities	10		65		—			—
Net income (loss) allocated to common shareholders for diluted calculation	$	1,939	$	4,881	$	(9,824	)	$	(4,061	)
Denominator:
Weighted average common shares outstanding, diluted	39,151		38,479		38,368			38,052
Net income (loss) per share, diluted	$	0.05	$	0.13	$	(0.26	)	$	(0.11	)