Construction and Line Item Joint Ventures (Tables)

6 Months Ended

Jun. 30, 2012

Construction and Line Item Joint Ventures [Abstract]

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)	June 30, 2012		December 31, 2011		June 30, 2011
Cash and cash equivalents¹	$	67,685	$	75,122	$	89,666
Other current assets	29,028		33,750		35,183
Total current assets	96,713		108,872		124,849
Noncurrent assets	6,919		8,671		11,012
Total assets²	$	103,632	$	117,543	$	135,861

Accounts payable	$	31,135	$	38,193	$	37,229
Billings in excess of costs and estimated earnings¹	17,979		22,251		41,386
Accrued expenses and other current liabilities	3,027		5,129		9,147
Total current liabilities	52,141		65,573		87,762
Noncurrent liabilities	—		4		—
Total liabilities²	$	52,141	$	65,577	$	87,762

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.

Schedule of Unconsolidated Joint Ventures [Table Text Block]

Following is summary financial information related to unconsolidated construction joint ventures:



(in thousands)	June 30, 2012		December 31, 2011		June 30, 2011
Assets:
Cash and cash equivalents¹	$	337,102	$	338,681	$	382,745
Other assets	300,744		264,901		205,408
Less partners’ interest	392,139		364,979		357,929
Granite’s interest	245,707		238,603		230,224
Liabilities:
Accounts payable	101,782		85,075		85,505
Billings in excess of costs and estimated earnings¹	265,883		280,650		290,584
Other liabilities	8,455		8,595		8,996
Less partners’ interest	238,234		236,746		242,514
Granite’s interest	137,886		137,574		142,571
Equity in construction joint ventures	$	107,821	$	101,029	$	87,653

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 June 30,				Six Months Ended June 30,
(in thousands)	2012		2011		2012		2011
Revenue:
Total	$	663,536	$	224,498	$	869,368	$	424,266
Less partners’ interest¹	563,302		163,932		695,505		290,278
Granite’s interest	100,234		60,566		173,863		133,988
Cost of revenue:
Total	544,838		183,130		714,450		334,010
Less partners’ interest¹	467,540		128,495		576,780		230,359
Granite’s interest	77,298		54,635		137,670		103,651
Granite’s interest in gross profit	$	22,936	$	5,931	$	36,193	$	30,337

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.