XML 19 R6.htm IDEA: XBRL DOCUMENT v3.23.3
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net income 59,681       61,250 61,250 (1,569)                      
Other comprehensive income (loss) $ 3,894     3,894   3,894                        
Repurchases of common stock (shares) (2,298,353) (2,370,376) [1]                                
Repurchase of common stock [1] $ (70,726) $ (23) (70,703)     (70,726)                        
Restricted stock units ("RSUs") vested (shares)   244,760                                
Restricted stock units (“RSUs”) vested 0 $ 2 (2)                              
Dividends on common stock (17,272)   218   (17,490) (17,272)                        
Transactions with non-controlling interests 9,309           9,309                      
Stock-based compensation expense and other (in shares)   9,014                                
Stock-based compensation expense and other 6,358   6,358   0 6,358                        
Ending balances (in shares) at Sep. 30, 2022   43,723,658                                
Ending balances at Sep. 30, 2022 970,389 $ 437 468,662 535 465,134 934,768 35,621                      
Beginning balances (in shares) at Jun. 30, 2022   44,078,469                                
Beginning balances at Jun. 30, 2022 904,971 $ 441 467,159 2,388 401,667 871,655 33,316                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net income 65,198       69,302 69,302 (4,104)                      
Other comprehensive income (loss) $ (1,853)     (1,853)   (1,853)                        
Repurchases of common stock (shares) (366,785) (378,790) [2]                                
Repurchase of common stock [2] $ (350) $ (4) (346)     (350)                        
Restricted stock units ("RSUs") vested (shares)   23,994                                
Dividends on common stock (5,685)   74   (5,759) (5,685)                        
Transactions with non-controlling interests 6,409           6,409                      
Stock-based compensation expense and other (in shares)   (15)                                
Stock-based compensation expense and other 1,699   1,775   (76) 1,699                        
Ending balances (in shares) at Sep. 30, 2022   43,723,658                                
Ending balances at Sep. 30, 2022 $ 970,389 $ 437 468,662 535 465,134 934,768 35,621                      
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                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net income 7,878       17,601 17,601 (9,723)                      
Other comprehensive income (loss) 106     106   106                        
Repurchases of common stock (shares) [1]   (96,936)                                
Repurchase of common stock [1] (3,901) $ (1) (3,900)     (3,901)                        
Restricted stock units ("RSUs") vested (shares)   272,528                                
Restricted stock units (“RSUs”) vested   $ 3 (3)                              
Dividends on common stock (17,123)   226   (17,349) (17,123)                        
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                                
Common stock issued in 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 28,823           28,823                      
Stock-based compensation expense and other (in shares)   7,093                                
Stock-based compensation expense and other $ 8,894   8,894     8,894                        
Ending balances (in shares) at Sep. 30, 2023 43,926,576 43,926,576                                
Ending balances at Sep. 30, 2023 $ 1,006,577 $ 439 472,379 894 481,636 955,348 51,229                      
Beginning balances (in shares) at Jun. 30, 2023   43,918,798                                
Beginning balances at Jun. 30, 2023 941,450 $ 439 470,511 795 429,797 901,542 39,908                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                    
Net income 57,496       57,624 57,624 (128)                      
Other comprehensive income (loss) 99     99   99                        
Repurchases of common stock (shares) [2]   (3,334)                                
Repurchase of common stock [2] (134)   (134)     (134)                        
Restricted stock units ("RSUs") vested (shares)   11,166                                
Dividends on common stock (5,709)   76   (5,785) (5,709)                        
Transactions with non-controlling interests 11,449           11,449                      
Stock-based compensation expense and other (in shares)   (54)                                
Stock-based compensation expense and other $ 1,926   1,926     1,926                        
Ending balances (in shares) at Sep. 30, 2023 43,926,576 43,926,576                                
Ending balances at Sep. 30, 2023 $ 1,006,577 $ 439 $ 472,379 $ 894 $ 481,636 $ 955,348 $ 51,229                      
[1] During the nine months ended September 30, 2023 and 2022, there were 96,936 shares and 69,659 shares, respectively, withheld related to employee taxes for RSUs vested under our equity incentive plans. During the nine months ended September 30, 2022, we also repurchased 2,298,353 shares under the Board approved share repurchase program.
[2] During the three months ended September 30, 2023 and 2022, there were 3,334 shares and 9,641 shares, respectively, withheld related to employee taxes for restricted stock units ("RSUs") vested under our equity incentive plans. During the three months ended September 30, 2022, we also repurchased 366,785 shares under the Board approved share repurchase program.