Investments in Affiliates

9 Months Ended

Sep. 30, 2015

Investments in and Advances to Affiliates, Schedule of Investments [Abstract]

Our investments in affiliates balance is related to our investments in unconsolidated non-construction entities that we account for using the equity method of accounting, including investments in real estate entities and a non-real estate entity. Our share of the operating results of the equity method investments is included in other expense (income) in the condensed consolidated statements of operations and as a single line item on the condensed consolidated balance sheets as investments in affiliates.

Our investments in affiliates balance consists of the following:



(in thousands)	September 30, 2015		December 31, 2014		September 30, 2014
Equity method investments in real estate affiliates	$	24,093	$	22,623	$	24,040
Equity method investment in other affiliate	8,984		9,738		10,137
Total investments in affiliates	$	33,077	$	32,361	$	34,177

The following table provides summarized balance sheet information for our affiliates accounted for under the equity method on a combined basis:



(in thousands)	September 30, 2015		December 31, 2014		September 30, 2014
Total assets	$	179,949	$	170,174	$	172,220
Net assets	106,239		97,639		103,651
Granite’s share of net assets	33,077		32,361		34,177

The equity method investments in real estate included $18.4 million, $16.5 million and $17.8 million in residential real estate in Texas as of September 30, 2015, December 31, 2014 and September 30, 2014, respectively. The remaining balances were in commercial real estate in Texas. Of the $179.9 million in total assets as of September 30, 2015, real estate entities had total assets ranging from $1.7 million to $69.6 million and the non-real estate entity had total assets of $19.2 million.