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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents ($118,653 and $102,547 related to consolidated construction joint ventures (“CCJVs”)) $ 292,124 $ 293,991
Short-term marketable securities 31,278 39,374
Receivables, net ($75,172 and $39,281 related to CCJVs) 743,091 463,987
Contract assets ($73,675 and $80,306 related to CCJVs) 282,280 241,916
Inventories 92,131 86,809
Equity in construction joint ventures 206,669 183,808
Other current assets ($4,000 and $5,694 related to CCJVs) 47,477 37,411
Total current assets 1,695,050 1,347,296
Property and equipment, net ($7,714 and $7,834 related to CCJVs) 569,722 509,210
Long-term marketable securities 5,750 26,569
Investments in affiliates 91,101 80,725
Goodwill 74,264 73,703
Right of use assets 56,874 49,079
Deferred income taxes, net 29,043 22,208
Other noncurrent assets 58,517 59,143
Total assets 2,580,321 2,167,933
Current liabilities    
Current maturities of long-term debt 1,475 1,447
Accounts payable ($65,645 and $57,534 related to CCJVs) 477,031 334,392
Contract liabilities ($59,148 and $62,675 related to CCJVs) 221,983 173,286
Accrued expenses and other current liabilities ($5,344 and $8,451 related to CCJVs) 355,987 288,469
Total current liabilities 1,056,476 797,594
Long-term debt 403,785 286,934
Long-term lease liabilities 42,198 32,170
Deferred income taxes, net 3,812 1,891
Other long-term liabilities 67,473 64,199
Commitments and contingencies
Equity    
Preferred stock, $0.01 par value, authorized 3,000,000 shares, none outstanding 0 0
Common stock, $0.01 par value, authorized 150,000,000 shares; issued and outstanding: 43,926,576 shares as of September 30, 2023 and 43,743,907 shares as of December 31, 2022 439 437
Additional paid-in capital 472,379 470,407
Accumulated other comprehensive income 894 788
Retained earnings 481,636 481,384
Total Granite Construction Incorporated shareholders’ equity 955,348 953,016
Non-controlling interests 51,229 32,129
Total equity 1,006,577 985,145
Total liabilities and equity $ 2,580,321 $ 2,167,933