Construction and Line Item Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2013

Construction and Line Item Joint Ventures [Abstract]

Schedule of Consolidated Joint Ventures

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

December 31,	2013		2012
Cash and cash equivalents1	$	38,800	$	105,865
Receivables, net	38,372		43,902
Other current assets	4,778		4,008
Total current assets	81,950		153,775
Property and equipment, net	22,216		41,114
Noncurrent assets	—		1,700
Total assets2	$	104,166	$	196,589
Accounts payable	$	16,937	$	34,536
Billings in excess of costs and estimated earnings1	60,185		72,490
Accrued expenses and other current liabilities	11,299		8,312
Total liabilities2	$	88,421	$	115,338

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

Following is summary financial information related to unconsolidated construction joint ventures (in thousands):

December 31,	2013		2012
Assets:
Cash and cash equivalents1	$	385,094	$	244,686
Other assets	523,827		301,412
Less partners’ interest	612,530		342,545
Granite’s interest	296,391		203,553
Liabilities:
Accounts payable	155,985		114,039
Billings in excess of costs and estimated earnings1	245,341		161,268
Other liabilities	104,152		5,873
Less partners’ interest	371,760		183,432
Granite’s interest	133,718		97,748
Equity in construction joint ventures	$	162,673	$	105,805

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.

Years Ended December 31,	2013		2012		2011
Revenue:
Total	$	1,391,190	$	1,042,209	$	938,867
Less partners’ interest1	982,734		665,782		623,090
Granite’s interest	408,456		376,427		315,777
Cost of revenue:
Total	1,107,533		785,079		765,446
Less partners’ interest1	772,670		511,840		519,340
Granite’s interest	334,863		273,239		246,106
Granite’s interest in gross profit	$	73,593	$	103,188	$	69,671

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.