Construction and Line Item Joint Ventures (Tables)

3 Months Ended

Mar. 31, 2015

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 construction joint ventures we are required to consolidate are included on the condensed consolidated balance sheets as follows:



(in thousands)	March 31, 2015		December 31, 2014		March 31, 2014
Cash and cash equivalents¹	$	52,884	$	61,276	$	27,612
Receivables, net	39,711		36,781		39,014
Other current assets	2,510		1,746		4,624
Total current assets	95,105		99,803		71,250
Property and equipment, net	9,729		11,969		19,801
Total assets²	$	104,834	$	111,772	$	91,051

Accounts payable	$	14,960	$	18,009	$	22,136
Billings in excess of costs and estimated earnings¹	29,963		32,830		43,087
Accrued expenses and other current liabilities	1,530		2,714		7,074
Total liabilities²	$	46,453	$	53,553	$	72,297

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 and costs in excess of billings 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 Assets and Liabilities [Table Text Block]

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



(in thousands)	March 31, 2015		December 31, 2014		March 31, 2014
Assets:
Cash and cash equivalents¹	$	240,123	$	264,263	$	240,486
Other assets	721,618		573,898		581,842
Less partners’ interest	637,512		546,907		542,114
Granite’s interest	324,229		291,254		280,214
Liabilities:
Accounts payable	191,312		146,198		131,441
Billings in excess of costs and estimated earnings¹	171,187		156,604		189,979
Other liabilities	72,026		55,289		69,745
Less partners’ interest	304,422		251,412		278,996
Granite’s interest	130,103		106,679		112,169
Equity in construction joint ventures²	$	194,126	$	184,575	$	168,045

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 costs in excess of billings 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.

²As of March 31, 2015, this balance included $3.4 million of deficit in construction joint ventures that is included in accrued expenses and other current liabilities on the condensed consolidated balance sheet.

Schedule of Unconsolidated Joint Ventures Revenue and Costs [Table Text Block]



	Three Months Ended March 31,
(in thousands)	2015		2014
Revenue:
Total	$	443,407	$	349,167
Less partners’ interest and adjustments¹	308,120		259,857
Granite’s interest	135,287		89,310
Cost of revenue:
Total	410,071		297,461
Less partners’ interest and adjustments¹	286,047		210,906
Granite’s interest	124,024		86,555
Granite’s interest in gross profit	$	11,263	$	2,755

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.