Construction and Line Item Joint Ventures (Tables)

9 Months Ended

Sep. 30, 2014

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 consolidated construction joint ventures are included in our condensed consolidated balance sheets as follows:



(in thousands)	September 30, 2014		December 31, 2013		September 30, 2013
Cash and cash equivalents¹	$	29,518	$	38,800	$	57,133
Receivables, net	45,483		38,372		47,696
Costs and estimated earnings in excess of billings¹	21,105		178		81
Other current assets	1,910		4,600		3,734
Total current assets	98,016		81,950		108,644
Property and equipment, net	16,172		22,216		28,194
Total assets²	$	114,188	$	104,166	$	136,838

Accounts payable	$	22,951	$	16,937	$	20,075
Billings in excess of costs and estimated earnings¹	23,138		60,185		70,518
Accrued expenses and other current liabilities	3,110		11,299		12,816
Total liabilities²	$	49,199	$	88,421	$	103,409

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 consolidated 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 a majority of the members 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]

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



(in thousands)	September 30, 2014		December 31, 2013		September 30, 2013
Assets:
Cash and cash equivalents¹	$	286,040	$	385,094	$	412,506
Other assets	538,012		523,827		439,655
Less partners’ interest	530,585		612,530		557,857
Granite’s interest	293,467		296,391		294,304
Liabilities:
Accounts payable	141,630		155,985		127,695
Billings in excess of costs and estimated earnings¹	178,781		245,341		274,052
Other liabilities	61,061		104,152		68,379
Less partners’ interest	269,264		371,760		336,885
Granite’s interest	112,208		133,718		133,241
Equity in construction joint ventures	$	181,259	$	162,673	$	161,063

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)	2014		2013		2014		2013
Revenue:
Total	$	313,945	$	363,523	$	1,055,276	$	848,082
Less partners’ interest and adjustments¹	213,068		259,655		741,451		586,016
Granite’s interest	100,877		103,868		313,825		262,066
Cost of revenue:
Total	338,848		290,112		982,014		661,587
Less partners’ interest and adjustments¹	239,661		203,804		696,633		452,784
Granite’s interest	99,187		86,308		285,381		208,803
Granite’s interest in gross profit	$	1,690	$	17,560	$	28,444	$	53,263

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.