Construction and Line Item Joint Ventures (Tables)

9 Months Ended

Sep. 30, 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)	September 30, 2015		December 31, 2014		September 30, 2014
Cash and cash equivalents¹	$	41,052	$	61,276	$	29,518
Receivables, net	36,527		36,781		45,483
Costs and estimated earnings in excess of billings¹	365		129		21,105
Other current assets	2,020		1,617		1,910
Total current assets	79,964		99,803		98,016
Property and equipment, net	6,068		11,969		16,172
Total assets²	$	86,032	$	111,772	$	114,188

Accounts payable	$	10,438	$	18,009	$	22,951
Billings in excess of costs and estimated earnings¹	13,794		32,830		23,138
Accrued expenses and other current liabilities	1,148		2,714		3,110
Total liabilities²	$	25,380	$	53,553	$	49,199

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]

The following is summary financial information related to unconsolidated construction joint ventures:



(in thousands)	September 30, 2015		December 31, 2014		September 30, 2014
Assets:
Cash and cash equivalents¹	$	460,668	$	264,263	$	286,040
Other assets	818,609		573,898		538,012
Less partners’ interest	875,629		546,907		530,585
Granite’s interest	403,648		291,254		293,467
Liabilities:
Accounts payable	228,695		146,198		141,630
Billings in excess of costs and estimated earnings¹	321,103		156,604		178,781
Other liabilities	88,905		55,289		61,061
Less partners’ interest	441,627		251,412		269,264
Granite’s interest	197,076		106,679		112,208
Equity in construction joint ventures²	$	206,572	$	184,575	$	181,259

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 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 September 30, 2015, this balance included $13.1 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 September 30,				Nine Months Ended September 30,
(in thousands)	2015		2014		2015		2014
Revenue:
Total	$	530,215	$	313,945	$	1,439,766	$	1,055,276
Less partners’ interest and adjustments¹	382,465		213,068		1,018,565		741,451
Granite’s interest	147,750		100,877		421,201		313,825
Cost of revenue:
Total	424,492		338,848		1,270,793		982,014
Less partners’ interest and adjustments¹	287,784		239,661		879,653		696,633
Granite’s interest	136,708		99,187		391,140		285,381
Granite’s interest in gross profit	$	11,042	$	1,690	$	30,061	$	28,444

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.