Investments in Affiliates

9 Months Ended

Sep. 30, 2017

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

Investments in Affiliates

Investments in Affiliates

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 investments in affiliates balance consists of the following:

(in thousands)	September 30, 2017		December 31, 2016		September 30, 2016
Equity method investments in real estate affiliates	$	28,634	$	25,911	$	24,638
Equity method investment in other affiliate	11,312		9,757		9,718
Total investments in affiliates	$	39,946	$	35,668	$	34,356

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, 2017		December 31, 2016		September 30, 2016
Total assets	$	163,714	$	155,506	$	167,859
Net assets	98,490		99,804		95,128
Granite’s share of net assets	39,946		35,668		34,356

The equity method investments in real estate affiliates included $23.6 million, $20.8 million and $19.7 million in residential real estate in Texas as of September 30, 2017, December 31, 2016 and September 30, 2016, respectively. The remaining balances were in commercial real estate in Texas. Of the $163.7 million in total assets as of September 30, 2017, real estate entities had total assets ranging from $1.6 million to $73.1 million and the non-real estate entity had total assets of $26.5 million.