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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
Jun. 30, 2016
Current Assets      
Cash and cash equivalents ($80,195, $73,115 and $50,065 related to consolidated construction joint ventures (“CCJVs”)) $ 178,068 $ 189,326 $ 161,218
Short-term marketable securities 47,821 64,884 34,959
Receivables, net ($42,099, $52,613 and $59,923 related to CCJVs) 484,245 419,345 431,127
Costs and estimated earnings in excess of billings ($3,124, $5,046 and $451 related to CCJVs) 99,883 73,102 86,025
Inventories 65,495 55,245 64,711
Equity in construction joint ventures 230,448 247,182 245,509
Other current assets ($7,190, $7,500 and $8,489 related to CCJVs) 43,597 39,908 31,949
Total current assets 1,149,557 1,088,992 1,055,498
Property and equipment, net ($28,398, $20,500 and $13,420 related to CCJVs) 414,079 406,650 409,860
Long-term marketable securities 59,990 62,895 42,653
Investments in affiliates 37,170 35,668 34,517
Goodwill 53,799 53,799 53,799
Deferred Tax Assets, Net 0 0 5,407
Other noncurrent assets 88,550 85,449 84,095
Total assets 1,803,145 1,733,453 1,685,829
Current liabilities      
Current maturities of long-term debt 14,796 14,796 14,795
Accounts payable ($24,976, $26,419 and $25,061 related to CCJVs) 252,527 199,029 210,923
Billings in excess of costs and estimated earnings ($32,657, $33,704 and $18,687 related to CCJVs) 114,180 97,522 90,484
Accrued expenses and other current liabilities ($1,156, $1,544 and $1,529 related to CCJVs) 231,048 218,587 212,986
Total current liabilities 612,551 529,934 529,188
Long-term debt 227,114 229,498 241,907
Deferred income taxes, net 5,420 5,441 0
Other long-term liabilities 47,983 45,989 45,719
Commitments and contingencies
Equity      
Preferred stock, $0.01 par value, authorized 3,000,000 shares, none outstanding 0 0 0
Common stock, $0.01 par value, authorized 150,000,000 shares; issued and outstanding: 39,837,295 shares as of June 30, 2017, 39,621,140 shares as of December 31, 2016 and 39,597,469 shares as of June 30, 2016 398 396 396
Additional paid-in capital 155,476 150,337 145,156
Accumulated other comprehensive income (loss) 71 (371) (1,811)
Retained earnings 715,451 735,626 692,740
Total Granite Construction Incorporated shareholders’ equity 871,396 885,988 836,481
Non-controlling interests 38,681 36,603 32,534
Total equity 910,077 922,591 869,015
Total liabilities and equity $ 1,803,145 $ 1,733,453 $ 1,685,829