Construction and Line Item Joint Ventures (Tables)

9 Months Ended

Sep. 30, 2013

Construction and Line Item Joint Ventures [Abstract]

Schedule of Consolidated Joint Ventures [Table Text Block]

The carrying amounts and classification of assets and liabilities of construction joint ventures we are required to consolidate are included in our condensed consolidated financial statements as follows:



(in thousands)	September 30, 2013		December 31, 2012		September 30, 2012
Cash and cash equivalents¹	$	57,133	$	105,865	$	74,020
Receivables, net	47,696		43,902		31,028
Other current assets	3,815		4,008		1,351
Total current assets	108,644		153,775		106,399
Property and equipment, net	28,194		41,114		6,661
Other noncurrent assets	—		1,700		—
Total assets²	$	136,838	$	196,589	$	113,060

Accounts payable	$	20,075	$	34,536	$	30,975
Billings in excess of costs and estimated earnings¹	70,518		72,490		13,955
Accrued expenses and other current liabilities	12,804		8,312		3,495
Total liabilities²	$	103,397	$	115,338	$	48,425

¹The volume and stage of completion of contracts from our consolidated construction joint ventures may cause fluctuations in cash and cash equivalents, as well as billings in excess of costs and estimated earnings between periods.

²The assets and liabilities of each joint venture relate solely to that joint venture. The decision to distribute joint venture cash and cash equivalents and assets must generally be made jointly by all of the partners and, accordingly, these cash and cash equivalents and assets generally are not available for the working capital needs of Granite until distributed.

Schedule of Unconsolidated Joint Ventures [Table Text Block]

As of September 30, 2013, one of our unconsolidated construction joint ventures was located in Canada and, therefore, the associated disclosures throughout this footnote include amounts that were translated from Canadian dollars to U.S. dollars using the spot rate in effect as of the reporting date for balance sheet items, and the average rate in effect during the reporting period for the results of operations. The associated foreign currency translation adjustments did not have a material impact on the consolidated financial statements for any of the dates or periods presented.

Following is summary financial information related to unconsolidated construction joint ventures:



(in thousands)	September 30, 2013		December 31, 2012		September 30, 2012
Assets:
Cash and cash equivalents¹	$	412,506	$	244,686	$	304,065
Other assets	439,655		301,412		273,848
Less partners’ interest	557,857		342,545		353,165
Granite’s interest	294,304		203,553		224,748
Liabilities:
Accounts payable	127,695		114,039		94,788
Billings in excess of costs and estimated earnings¹	274,052		161,268		243,578
Other liabilities	68,379		5,873		8,299
Less partners’ interest	336,885		183,432		219,807
Granite’s interest	133,241		97,748		126,858
Equity in construction joint ventures	$	161,063	$	105,805	$	97,890

¹The volume and stage of completion of contracts from our unconsolidated construction joint ventures may cause fluctuations in cash and cash equivalents, as well as billings in excess of costs and estimated earnings between periods. The decision to distribute joint venture cash and cash equivalents and assets must generally be made jointly by all of the partners and, accordingly, these cash and cash equivalents and assets generally are not available for the working capital needs of Granite until distributed.



	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2013		2012		2013		2012
Revenue:
Total	$	363,523	$	286,308	$	848,082	$	776,235
Less partners’ interest¹	259,655		181,679		586,016		497,743
Granite’s interest	103,868		104,629		262,066		278,492
Cost of revenue:
Total	290,112		200,688		661,587		597,689
Less partners’ interest¹	203,804		129,840		452,784		389,171
Granite’s interest	86,308		70,848		208,803		208,518
Granite’s interest in gross profit	$	17,560	$	33,781	$	53,263	$	69,974

¹Partners’ interest represents amounts to reconcile total revenue and total cost of revenue as reported by our partners to Granite’s interest, adjusted to reflect our accounting policies.