Acquisitions (Tables)

12 Months Ended

Dec. 31, 2014

The following table presents the final adjusted purchase price allocation (in thousands):



Cash and cash equivalents	$	53,185
Receivables	88,725
Costs and estimated earnings in excess of billings	444
Inventories	731
Equity in construction joint ventures	7,803
Other current assets	6,039
Property and equipment, net	51,909
Identifiable intangible assets:
Acquired backlog	7,900
Customer relationships	2,200
Trade name	4,100
Total amount allocated to identifiable intangible assets	14,200
Accounts payable	43,591
Billings in excess of costs and estimated earnings	50,098
Accrued expenses and other current liabilities	16,806
Non-controlling interests	15,326
Total identifiable net assets acquired	97,215
Goodwill	43,899
Total purchase price	$	141,114

Business Acquisition, Pro Forma Information

The pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place at the beginning of 2012.



Years Ended December 31,	2012
Revenue	$	2,388,790
Net income including non-controlling interests	82,914
Net income attributable to Granite	58,225
Basic net income per share	1.50
Diluted net income per share	1.48

Amortization Expense Associated with Acquired Intangible Assets

We recorded amortization expense associated with the acquired intangible assets as follows (in thousands):



Year Ended December 31,	2014		2013
Cost of revenue - Construction	$	—	$	6,400
Cost of revenue - Large Project Construction	428		435
Selling, general and administrative expenses	725		725
Total	$	1,153	$	7,560