The following tables set forth the impact of the correction of accounting errors and reclassification adjustments on the previously reported condensed consolidated balance sheet as of September 30, 2013 and the condensed consolidated statements of operations and cash flows for the three and nine months ended September 30, 2013 (in thousands):

Condensed Consolidated Balance Sheet



	September 30, 2013
		As Reported		Revisions			Revised
Total current assets		$	1,041,672	$	(368	)	$	1,041,304
Noncurrent assets		684,330		1,500			$	685,830
Total assets		$	1,726,002	$	1,132		$	1,727,134

Total current liabilities		$	565,522	$	439		$	565,961
Noncurrent liabilities		331,658		—			331,658
Total Granite Construction Incorporated shareholders’ equity		812,509		741			813,250
Non-controlling interests		16,313		(48		)	16,265
Total liabilities and equity		$	1,726,002	$	1,132		$	1,727,134

Condensed Consolidated Statements of Operations



	Three Months Ended September 30, 2013
	As Reported		Revisions			Revised
Total revenue	$	741,575	$	(1,823	)	$	739,752
Total cost of revenue	687,179		(3,287		)	683,892
Gross profit	54,396		1,464			55,860
Selling, general and administrative expenses	47,060		(1,533		)	45,527
Gain on sale of property and equipment	3,259		—			3,259
Operating income	10,595		2,997			13,592
Income before provision for income taxes	8,481		2,997			11,478
Provision for income taxes	4,026		920			4,946
Net income	4,455		2,077			6,532
Amount attributable to non-controlling interests	6,542		(37		)	6,505
Net income attributable to Granite Construction Incorporated	$	10,997	$	2,040		$	13,037

Net income per share attributable to common shareholders (see Note 12)
Basic	$	0.28	$	0.06		$	0.34
Diluted	$	0.28	$	0.05		$	0.33



	Nine Months Ended September 30, 2013
		As Reported			Revisions			Revised
Total revenue		$	1,670,441		$	(1,638	)	$	1,668,803
Total cost of revenue		1,534,791			(1,501		)	1,533,290
Gross profit		135,650			(137		)	135,513
Selling, general and administrative expenses		150,675			(1,198		)	149,477
Operating loss		(7,372		)	1,061			(6,311		)
Loss before benefit from income taxes		(15,440		)	1,061			(14,379		)
Benefit from income taxes		(3,235		)	368			(2,867		)
Net loss		(12,205		)	693			(11,512		)
Amount attributable to non-controlling interests		3,938			48			3,986
Net loss attributable to Granite Construction Incorporated		$	(8,267	)	$	741		$	(7,526	)

Net loss per share attributable to common shareholders (see Note 12)
Basic		$	(0.21	)	$	0.02		$	(0.19	)
Diluted		$	(0.21	)	$	0.02		$	(0.19	)

Condensed Consolidated Statement of Cash Flows



	Nine months ended September 30, 2013
	As Reported			Revisions			Reclassifications			Revised
Net loss	$	(12,205	)	$	693		$	—		$	(11,512	)
Depreciation, depletion and amortization	54,788			—			—			54,788
Non-cash restructuring, net	(23		)	—			23			—
Gain on sales of property and equipment	(7,653		)	—			—			(7,653		)
Stock-based compensation	10,645			—			—			10,645
Equity in net income from unconsolidated joint ventures	—			—			(51,826		)	(51,826		)
Receivables	(99,856		)	—			—			(99,856		)
Costs and estimated earnings in excess of billings, net	(1,707		)	137			(14,494		)	(16,064		)
Inventories	(1,882		)	—			—			(1,882		)
Equity in construction joint ventures	(54,672		)	—			54,672			—
Contributions to unconsolidated construction joint ventures	—			—			(28,514		)	(28,514		)
Distributions from unconsolidated construction joint ventures	—			—			68,033			68,033
Other assets, net	(5,165		)	368			(23		)	(4,820		)
Accounts payable	5,578			(1,198		)	(1,176		)	3,204
Accrued expenses and other current liabilities, net	47,637			—			(26,695		)	20,942
Net cash used in operating activities	$	(64,515	)	$	—		$	—		$	(64,515	)