Earnings Per Share

12 Months Ended

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

Years Ended December 31,	2012		2011		2010
Basic
Numerator:
Net income (loss) attributable to Granite	$	45,283	$	51,161	$	(58,983	)
Less: net income allocated to participating securities	283		738		—
Net income (loss) allocated to common shareholders for basic calculation	$	45,000	$	50,423	$	(58,983	)
Denominator:
Weighted average common shares outstanding, basic	38,447		38,117		37,820
Net income (loss) per share, basic	$	1.17	$	1.32	$	(1.56	)
Diluted
Numerator:
Net income (loss) attributable to Granite	$	45,283	$	51,161	$	(58,983	)
Less: net income allocated to participating securities	279		732		—
Net income (loss) allocated to common shareholders for diluted calculation	$	45,004	$	50,429	$	(58,983	)
Denominator:
Weighted average common shares outstanding, diluted	39,076		38,473		37,820
Net income (loss) per share, diluted	$	1.15	$	1.31	$	(1.56	)