Earnings Per Share

6 Months Ended

Jun. 30, 2013

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):

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per share amounts)	2013		2012		2013			2012
Basic
Numerator:
Net income (loss) attributable to Granite	$	2,718	$	1,949	$	(19,264	)	$	(9,824	)
Less: net income allocated to participating securities	—		10		—			—
Net income (loss) allocated to common shareholders for basic calculation	$	2,718	$	1,939	$	(19,264	)	$	(9,824	)
Denominator:
Weighted average common shares outstanding, basic	38,829		38,471		38,720			38,368
Net income (loss) per share, basic	$	0.07	$	0.05	$	(0.50	)	$	(0.26	)
Diluted
Numerator:
Net income (loss) attributable to Granite	$	2,718	$	1,949	$	(19,264	)	$	(9,824	)
Less: net income allocated to participating securities	—		10		—			—
Net income (loss) allocated to common shareholders for diluted calculation	$	2,718	$	1,939	$	(19,264	)	$	(9,824	)
Denominator:
Weighted average common shares outstanding, diluted	39,769		39,151		38,720			38,368
Net income (loss) per share, diluted	$	0.07	$	0.05	$	(0.50	)	$	(0.26	)