XML 14 R2.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents ($121,963 and $120,224 related to consolidated construction joint ventures (“CCJVs”)) $ 366,746 $ 417,663
Short-term marketable securities 10,500 35,863
Receivables, net ($54,659 and $62,040 related to CCJVs) 709,248 598,705
Contract assets ($92,513 and $68,520 related to CCJVs) 309,376 262,987
Inventories 119,060 103,898
Equity in construction joint ventures 157,070 171,233
Other current assets ($5,080 and $5,590 related to CCJVs) 34,168 53,102
Total current assets 1,706,168 1,643,451
Property and equipment, net ($7,295 and $7,557 related to CCJVs) 670,876 662,864
Investments in affiliates 93,499 92,910
Goodwill 146,768 155,004
Intangible assets 107,575 117,322
Right of use assets 78,374 78,176
Deferred income taxes, net 19,989 8,179
Other noncurrent assets 58,120 55,634
Total assets 2,881,369 2,813,540
Current liabilities    
Current maturities of long-term debt 1,510 39,932
Accounts payable ($65,499 and $62,755 related to CCJVs) 450,656 408,363
Contract liabilities ($58,170 and $50,929 related to CCJVs) 262,198 243,848
Accrued expenses and other current liabilities ($6,568 and $5,426 related to CCJVs) 302,039 337,740
Total current liabilities 1,016,403 1,029,883
Long-term debt 737,436 614,781
Long-term lease liabilities 64,995 63,548
Deferred income taxes, net 3,272 3,708
Other long-term liabilities 71,848 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: 43,686,508 shares as of June 30, 2024 and 43,944,118 shares as of December 31, 2023 437 439
Additional paid-in capital 435,271 474,134
Accumulated other comprehensive income 270 881
Retained earnings 495,679 501,844
Total Granite Construction Incorporated shareholders’ equity 931,657 977,298
Non-controlling interests 55,758 49,668
Total equity 987,415 1,026,966
Total liabilities and equity $ 2,881,369 $ 2,813,540