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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents ($137,121 and $120,224 related to consolidated construction joint ventures (“CCJVs”)) $ 321,752 $ 417,663
Short-term marketable securities 15,500 35,863
Receivables, net ($45,744 and $62,040 related to CCJVs) 429,830 598,705
Contract assets ($79,779 and $68,520 related to CCJVs) 306,004 262,987
Inventories 116,957 103,898
Equity in construction joint ventures 168,985 171,233
Other current assets ($5,780 and $5,590 related to CCJVs) 59,078 53,102
Total current assets 1,418,106 1,643,451
Property and equipment, net ($7,592 and $7,557 related to CCJVs) 665,524 662,864
Investments in affiliates 92,677 92,910
Goodwill 160,842 155,004
Intangible assets 113,201 117,322
Right of use assets 79,580 78,176
Deferred income taxes, net 8,108 8,179
Other noncurrent assets 56,997 55,634
Total assets 2,595,035 2,813,540
Current liabilities    
Current maturities of long-term debt 39,986 39,932
Accounts payable ($55,374 and $62,755 related to CCJVs) 347,382 408,363
Contract liabilities ($49,339 and $50,929 related to CCJVs) 223,964 243,848
Accrued expenses and other current liabilities ($6,573 and $5,426 related to CCJVs) 325,103 337,740
Total current liabilities 936,435 1,029,883
Long-term debt 513,203 614,781
Long-term lease liabilities 65,115 63,548
Deferred income taxes, net 3,636 3,708
Other long-term liabilities 72,041 74,654
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: 44,149,644 shares as of March 31, 2024 and 43,944,118 shares as of December 31, 2023 441 439
Additional paid-in capital 479,680 474,134
Accumulated other comprehensive income 1,290 881
Retained earnings 465,047 501,844
Total Granite Construction Incorporated shareholders’ equity 946,458 977,298
Non-controlling interests 58,147 49,668
Total equity 1,004,605 1,026,966
Total liabilities and equity $ 2,595,035 $ 2,813,540