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Investments in Affiliates
 9 Months Ended
Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Affiliates Investments in Affiliates
Our investments in affiliates balance consists of equity method investments in the following types of entities:
(in thousands)September 30, 2023December 31, 2022
Foreign$66,969 $58,579 
Real estate7,489 8,517 
Asphalt terminal16,643 13,629 
Total investments in affiliates$91,101 $80,725 
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, 2023December 31, 2022
Current assets$207,838 $194,210 
Noncurrent assets163,121 172,560 
Total assets$370,959 $366,770 
Current liabilities$90,889 $106,780 
Long-term liabilities (1)58,202 59,356 
Total liabilities$149,091 $166,136 
Net assets$221,868 $200,634 
Granite’s share of net assets$91,101 $80,725 
(1)This balance is primarily related to local bank debt for equipment purchases and debt associated with our real estate investments.
Of the $371.0 million of total affiliate assets as of September 30, 2023, we had investments in two real estate entities with total assets of $59.2 million, our foreign affiliates had total assets of $270.3 million and the asphalt terminal entity had total assets of $41.5 million. As of September 30, 2023 and December 31, 2022, all of the investments in real estate affiliates were in residential real estate in Texas. As of September 30, 2023, our percent ownership in the real estate entities ranged from 10% to 25%. We have direct and indirect investments in our foreign affiliates, and our percent ownership in foreign affiliates ranged from 25% to 50% as of September 30, 2023.