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Condensed Consolidated Statements of Shareholders' Equity - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Total Granite Shareholders’ Equity
Non-controlling Interests
Cumulative Effect, Period of Adoption, Adjustment
Cumulative Effect, Period of Adoption, Adjustment
Additional Paid-In Capital
Cumulative Effect, Period of Adoption, Adjustment
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
Total Granite Shareholders’ Equity
Cumulative Effect, Period of Adoption, Adjusted Balance
Cumulative Effect, Period of Adoption, Adjusted Balance
Common Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Additional Paid-In Capital
Cumulative Effect, Period of Adoption, Adjusted Balance
Accumulated Other Comprehensive Income (Loss)
Cumulative Effect, Period of Adoption, Adjusted Balance
Retained Earnings
Cumulative Effect, Period of Adoption, Adjusted Balance
Total Granite Shareholders’ Equity
Cumulative Effect, Period of Adoption, Adjusted Balance
Non-controlling Interests
Beginning balances (in shares) at Dec. 31, 2021   45,840,260                     45,840,260          
Beginning balances at Dec. 31, 2021 $ 995,563 $ 458 $ 559,752 $ (3,359) $ 410,831 $ 967,682 $ 27,881 $ (16,418) $ (26,961) $ 10,543 $ (16,418) $ 979,145 $ 458 $ 532,791 $ (3,359) $ 421,374 $ 951,264 $ 27,881
Net income (loss) (5,517)       (8,052) (8,052) 2,535                      
Other comprehensive income $ 5,747     5,747   5,747                        
Repurchases of common stock (shares) (1,931,568) (1,991,586) [1]                                
Repurchase of common stock [1] $ (70,376) $ (19) (70,357)     (70,376)                        
Restricted stock units ("RSUs") vested (shares)   220,766                                
Restricted stock units (“RSUs”) vested 0 $ 2 (2)                              
Dividends on common stock (11,587)   144   (11,731) (11,587)                        
Transactions with non-controlling interests 2,900           2,900                      
Stock-based compensation expense and other (in shares)   9,029                                
Stock-based compensation expense and other 4,659   4,583   76 4,659                        
Ending balances (in shares) at Jun. 30, 2022   44,078,469                                
Ending balances at Jun. 30, 2022 904,971 $ 441 467,159 2,388 401,667 871,655 33,316                      
Beginning balances (in shares) at Mar. 31, 2022   45,364,137                                
Beginning balances at Mar. 31, 2022 941,889 $ 454 515,262 1,573 388,756 906,045 35,844                      
Net income (loss) 19,578       18,681 18,681 897                      
Other comprehensive income $ 815     815   815                        
Repurchases of common stock (shares) (1,320,568) (1,325,706) [2]                                
Repurchase of common stock [2] $ (50,164) $ (13) (50,151)     (50,164)                        
Restricted stock units ("RSUs") vested (shares)   30,596                                
Dividends on common stock (5,771)   75   (5,846) (5,771)                        
Transactions with non-controlling interests (3,425)           (3,425)                      
Stock-based compensation expense and other (in shares)   9,442                                
Stock-based compensation expense and other 2,049   1,973   76 2,049                        
Ending balances (in shares) at Jun. 30, 2022   44,078,469                                
Ending balances at Jun. 30, 2022 $ 904,971 $ 441 467,159 2,388 401,667 871,655 33,316                      
Beginning balances (in shares) at Dec. 31, 2022 43,743,907 43,743,907                                
Beginning balances at Dec. 31, 2022 $ 985,145 $ 437 470,407 788 481,384 953,016 32,129                      
Net income (loss) (49,618)       (40,023) (40,023) (9,595)                      
Other comprehensive income 7     7   7                        
Repurchases of common stock (shares) [1]   (93,602)                                
Repurchase of common stock [1] (3,767) $ (1) (3,766)     (3,767)                        
Restricted stock units ("RSUs") vested (shares)   261,362                                
Restricted stock units (“RSUs”) vested 0 $ 3 (3)                              
Dividends on common stock (11,414)   150   (11,564) (11,414)                        
Capped call transactions (39,379)   (39,379)     (39,379)                        
Redemption of warrants (13,201)   (13,201)     (13,201)                        
Loss on debt extinguishment (in shares)   1,390,500                                
Loss on debt extinguishment 49,335 $ 14 49,321     49,335                        
Exercise of bond hedge (in shares)   (1,390,516)                                
Exercise of bond hedge   $ (14) 14                              
Transactions with non-controlling interests 17,374           17,374                      
Stock-based compensation expense and other (in shares)   7,147                                
Stock-based compensation expense and other $ 6,968   6,968     6,968                        
Ending balances (in shares) at Jun. 30, 2023 43,918,798 43,918,798                                
Ending balances at Jun. 30, 2023 $ 941,450 $ 439 470,511 795 429,797 901,542 39,908                      
Beginning balances (in shares) at Mar. 31, 2023   43,880,224                                
Beginning balances at Mar. 31, 2023 972,411 $ 439 471,782 653 452,583 925,457 46,954                      
Net income (loss) (23,846)       (17,000) (17,000) (6,846)                      
Other comprehensive income 142     142   142                        
Repurchases of common stock (shares) [2]   (6,342)                                
Repurchase of common stock [2] (244) $ (1) (243)     (244)                        
Restricted stock units ("RSUs") vested (shares)   37,394                                
Restricted stock units (“RSUs”) vested 0 $ 1 (1)                              
Dividends on common stock (5,710)   76   (5,786) (5,710)                        
Capped call transactions (39,379)   (39,379)     (39,379)                        
Redemption of warrants (13,201)   (13,201)     (13,201)                        
Loss on debt extinguishment (in shares)   1,390,500                                
Loss on debt extinguishment 49,335 $ 14 49,321     49,335                        
Exercise of bond hedge (in shares)   (1,390,516)                                
Exercise of bond hedge 0 $ (14) 14                              
Transactions with non-controlling interests (200)           (200)                      
Stock-based compensation expense and other (in shares)   7,538                                
Stock-based compensation expense and other $ 2,142   2,142     2,142                        
Ending balances (in shares) at Jun. 30, 2023 43,918,798 43,918,798                                
Ending balances at Jun. 30, 2023 $ 941,450 $ 439 $ 470,511 $ 795 $ 429,797 $ 901,542 $ 39,908                      
[1] This amount represents employee tax withholding for restricted stock units ("RSUs") vested under our equity incentive plans in 2022 and 2023 and stock repurchased in 2022 under the Board approved repurchase plan. During the six months ended June 30, 2023 and 2022, there were 93,602 shares and 60,018 shares, respectively, withheld related to employee taxes for RSUs. During the six months ended June 30, 2022, we also repurchased 1,931,568 shares under the share repurchase program.
[2] This amount represents employee tax withholding for restricted stock units ("RSUs") vested under our equity incentive plans in 2022 and 2023 and stock repurchased in 2022 under the Board approved repurchase plan. During the three months ended June 30, 2023 and 2022, there were 6,342 shares and 5,138 shares, respectively, withheld related to employee taxes for RSUs. During the three months ended June 30, 2022, we also repurchased 1,320,568 shares under the share repurchase program.