Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Reconciliation [Table Text Block]

The following is a reconciliation of net income attributable to Granite and related weighted average shares of common stock outstanding for purposes of calculating basic and diluted net income per share using the two-class method:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share amounts)	2012		2011		2012		2011
Basic
Numerator:
Net income attributable to Granite	$	37,121	$	36,468	$	27,297	$	32,407
Less: net income allocated to participating securities	181		469		184		491
Net income allocated to common shareholders for basic calculation	$	36,940	$	35,999	$	27,113	$	31,916
Denominator:
Weighted average common shares outstanding, basic	38,518		38,172		38,418		38,092
Net income per share, basic	$	0.96	$	0.94	$	0.71	$	0.84
Diluted
Numerator:
Net income attributable to Granite	$	37,121	$	36,468	$	27,297	$	32,407
Less: net income allocated to participating securities	178		462		181		487
Net income allocated to common shareholders for diluted calculation	$	36,943	$	36,006	$	27,116	$	31,920
Denominator:
Weighted average common shares outstanding, diluted	39,141		38,598		39,013		38,428
Net income per share, diluted	$	0.94	$	0.93	$	0.70	$	0.83