Real Estate Entities and Investments in Affiliates (Tables)

12 Months Ended

Dec. 31, 2012

Real Estate Entities and Investments in Affiliates [Abstract]

Schedule of Consolidated Real Estate Entities

The carrying amounts and classification of assets and liabilities of real estate entities we are required to consolidate are included in our consolidated balance sheets as follows (in thousands):

December 31,	2012		2011
Real estate held for development and sale	$	50,223	$	67,037
Other current assets	1,591		4,715
Total assets	$	51,814	$	71,752
Current maturities of non-recourse debt	$	10,707	$	22,571
Other current liabilities	386		1,794
Total current liabilities	11,093		24,365
Long-term non-recourse debt	922		9,912
Other noncurrent liabilities	—		74
Total liabilities	$	12,015	$	34,351

Schedule of Real Estate Inventory Held For Sale

The breakdown by type and location of our real estate held for development and sale is summarized below (dollars in thousands):

December 31,	2012			2011
	Amount		Number of Projects	Amount		Number of Projects
Residential	$	40,732	2	$	54,610	4
Commercial	9,491		4	12,427		5
Total	$	50,223	6	$	67,037	9
Washington	$	40,327	1	$	47,600	2
California	2,663		4	4,006		5
Texas	7,233		1	8,859		1
Oregon	—		—	6,572		1
Total	$	50,223	6	$	67,037	9

Schedule of Equity and Cost Method Investments

Our investments in affiliates balance consists of the following (in thousands):

December 31,	2012		2011
Equity method investments in real estate affiliates	$	19,775	$	16,478
Equity method investments in other affiliates	11,024		11,841
Total equity method investments	30,799		28,319
Cost method investments	—		2,752
Total investments in affiliates	$	30,799	$	31,071

Breakdown of Equity Method in Real Estate Affiliates by Type and Location

The breakdown by type and location of our interests in unconsolidated real estate ventures is summarized below (dollars in thousands):

December 31,	2012			2011
	Amount		Number of Projects	Amount		Number of Projects
Residential	$	13,813	2	$	11,903	2
Commercial	5,962		3	4,575		3
Total	$	19,775	5	$	16,478	5
Texas	$	19,775	5	$	16,478	5
Total	$	19,775	5	$	16,478	5

Equity Method Investment Summarized Balance Sheet Information

The following table provides summarized balance sheet information for our affiliates accounted for under the equity method on a 100% combined basis (in thousands):

December 31,	2012		2011
Current assets	$	85,354	$	82,791
Long-term assets	80,758		74,980
Total assets	166,112		157,771
Current liabilities	8,262		9,321
Long-term liabilities	65,744		65,939
Total liabilities	74,006		75,260
Net assets	$	92,106	$	82,511
Granite’s share of net assets	$	30,799	$	28,319

Equity Method Investment Summarized Income Statement Information

The following table provides summarized statement of operations information for our affiliates accounted for under the equity method on a 100% combined basis (in thousands):

Years Ended December 31,	2012		2011			2010
Revenue	$	52,342	$	48,983		$	36,249
Gross profit	13,254		10,654			9,239
Income (loss) before taxes	1,318		(399		)	(5,026		)
Net income (loss)	1,318		(399		)	(5,026		)
Granite’s interest in affiliates’ net income	$	1,988	$	2,193		$	756