XML 18 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenue        
Construction $ 579,146 $ 464,624 $ 1,235,264 $ 1,005,457
Large Project Construction 279,845 249,345 741,341 642,116
Construction Materials 98,135 89,936 211,834 200,363
Total revenue 957,126 803,905 2,188,439 1,847,936
Cost of revenue        
Construction 487,798 393,094 1,053,463 857,938
Large Project Construction 273,460 225,826 731,906 591,438
Construction Materials 81,338 77,311 188,844 178,440
Total cost of revenue 842,596 696,231 1,974,213 1,627,816
Gross profit 114,530 107,674 214,226 220,120
Selling, general and administrative expenses 49,501 54,194 162,726 159,032
Gain on sales of property and equipment (1,753) (398) (2,830) (2,364)
Operating income 66,782 53,878 54,330 63,452
Other (income) expense        
Interest income (1,141) (790) (3,356) (2,424)
Interest expense 2,660 3,034 8,097 9,270
Equity in income of affiliates (2,732) (2,424) (4,907) (4,583)
Other income, net (1,309) (732) (2,821) (5,287)
Total other income (2,522) (912) (2,987) (3,024)
Income before provision for income taxes 69,304 54,790 57,317 66,476
Provision for income taxes 21,249 16,617 16,841 19,540
Net income 48,055 38,173 40,476 46,936
Amount attributable to non-controlling interests 2,073 982 4,151 5,987
Net income attributable to Granite Construction Incorporated $ 45,982 $ 37,191 $ 36,325 $ 40,949
Net income per share attributable to common shareholders (see Note 11)        
Basic (in dollars per share) $ 1.15 $ 0.94 $ 0.91 $ 1.04
Diluted (in dollars per share) $ 1.14 $ 0.92 $ 0.90 $ 1.02
Weighted average shares of common stock        
Weighted average common shares outstanding, basic 39,844 39,599 39,774 39,539
Weighted average common shares outstanding, diluted 40,387 40,313 40,367 40,205
Dividends per common share (in US$ per share) $ 0.13 $ 0.13 $ 0.39 $ 0.39