Earnings Per Share

12 Months Ended

Dec. 31, 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):

Years Ended December 31,	2013			2012		2011
Basic
Numerator:
Net (loss) income attributable to Granite	$	(36,423	)	$	45,283	$	51,161
Less: net income allocated to participating securities	—			283		738
Net (loss) income allocated to common shareholders for basic calculation	$	(36,423	)	$	45,000	$	50,423
Denominator:
Weighted average common shares outstanding, basic	38,803			38,447		38,117
Net (loss) income per share, basic	$	(0.94	)	$	1.17	$	1.32
Diluted
Numerator:
Net (loss) income attributable to Granite	$	(36,423	)	$	45,283	$	51,161
Less: net income allocated to participating securities	—			279		732
Net (loss) income allocated to common shareholders for diluted calculation	$	(36,423	)	$	45,004	$	50,429
Denominator:
Weighted average common shares outstanding, diluted	38,803			39,076		38,473
Net (loss) income per share, diluted	$	(0.94	)	$	1.15	$	1.31