XML 54 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2013
Dec. 31, 2012
Sep. 30, 2012
Current assets      
Cash and cash equivalents ($57,133, $105,865 and $74,020 related to consolidated construction joint ventures (“CCJVs”)) $ 212,463 $ 321,990 $ 287,322
Short-term marketable securities 22,892 56,088 47,185
Receivables, net ($47,696, $43,902 and $31,028 related to CCJVs) 422,609 325,529 363,455
Costs and estimated earnings in excess of billings 40,837 34,116 49,548
Inventories 61,667 59,785 63,999
Real estate held for development and sale 50,250 50,223 57,964
Deferred income taxes 36,687 36,687 38,571
Equity in construction joint ventures 161,063 105,805 97,890
Other current assets 33,204 31,834 13,974
Total current assets 1,041,672 1,022,057 1,019,908
Property and equipment, net ($28,194, $41,114 and $6,661 related to CCJVs) 456,524 481,478 432,293
Long-term marketable securities 64,014 55,342 37,802
Investments in affiliates 31,338 30,799 30,257
Goodwill 53,799 55,419 9,900
Other noncurrent assets 78,655 84,392 68,475
Total assets 1,726,002 1,729,487 1,598,635
Current liabilities      
Current maturities of long-term debt 20 8,353 8,352
Current maturities of non-recourse debt 2,147 10,707 16,712
Accounts payable ($20,075, $34,536 and $30,975 related to CCJVs) 199,480 202,541 209,683
Billings in excess of costs and estimated earnings ($70,518, $72,490 and $13,955 related to CCJVs) 144,706 139,692 91,348
Accrued expenses and other current liabilities ($12,804, $8,312 and $3,495 related to CCJVs) 219,169 169,979 167,166
Total current liabilities 565,522 531,272 493,261
Long-term debt 270,148 270,148 200,168
Long-term non-recourse debt 7,048 922 4,375
Other long-term liabilities 46,474 47,124 47,913
Deferred income taxes 7,988 8,163 3,644
Commitments and contingencies         
Equity      
Preferred stock, $0.01 par value, authorized 3,000,000 shares, none outstanding 0 0 0
Common stock, $0.01 par value, authorized 150,000,000 shares; issued and outstanding 38,878,194 shares as of September 30, 2013, 38,730,665 shares as of December 31, 2012 and 38,706,966 shares as of September 30, 2012 388 387 387
Additional paid-in capital 123,681 117,422 114,917
Retained earnings 688,440 712,144 699,277
Total Granite Construction Incorporated shareholders’ equity 812,509 829,953 814,581
Noncontrolling interests 16,313 41,905 34,693
Total equity 828,822 871,858 849,274
Total liabilities and equity $ 1,726,002 $ 1,729,487 $ 1,598,635