XML 16 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenue        
Total revenue $ 964,172 $ 915,771 $ 1,634,085 $ 1,551,698
Cost of revenue        
Total cost of revenue 847,226 827,428 1,453,821 1,439,556
Gross profit 116,946 88,343 180,264 112,142
Selling, general and administrative expenses 74,069 78,023 149,797 151,239
Non-cash impairment charges (see Note 3) 0 0 0 24,413
Other costs (see Note 3) 5,953 13,659 81,788 18,824
Gain on sales of property and equipment, net (see Note 12) (31,636) (1,190) (34,190) (1,813)
Operating income (loss) 68,560 (2,149) (17,131) (80,521)
Other (income) expense        
Interest income (188) (767) (444) (2,058)
Interest expense 5,507 6,549 10,888 11,543
Equity in income of affiliates, net (6,231) (2,016) (8,039) (2,062)
Other (income) expense, net (1,894) (3,160) (3,124) 2,059
Total other (income) expense (2,806) 606 (719) 9,482
Income (loss) before provision for (benefit from) income taxes 71,366 (2,755) (16,412) (90,003)
Provision for (benefit from) income taxes 15,619 (1,782) (6,836) (16,492)
Net income (loss) 55,747 (973) (9,576) (73,511)
Amount attributable to non-controlling interests (1,286) 4,378 (2,158) 11,546
Net income (loss) attributable to Granite Construction Incorporated $ 54,461 $ 3,405 $ (11,734) $ (61,965)
Net income (loss) per share attributable to common shareholders (see Note 14)        
Basic (in dollars per share) $ 1.19 $ 0.07 $ (0.26) $ (1.36)
Diluted (in dollars per share) $ 1.14 $ 0.07 $ (0.26) $ (1.36)
Weighted average shares of common stock        
Basic (in shares) 45,798 45,620 45,748 45,570
Diluted (in shares) 47,798 46,281 45,748 45,570
Transportation [Member]        
Revenue        
Total revenue $ 525,235 $ 535,101 $ 876,264 $ 886,002
Cost of revenue        
Total cost of revenue 465,718 503,904 780,881 829,436
Water [Member]        
Revenue        
Total revenue 113,432 109,724 213,185 211,381
Cost of revenue        
Total cost of revenue 102,869 97,145 194,056 189,455
Specialty [Member]        
Revenue        
Total revenue 200,271 174,914 355,945 307,953
Cost of revenue        
Total cost of revenue 175,902 149,634 314,251 293,392
Materials [Member]        
Revenue        
Total revenue 125,234 96,032 188,691 146,362
Cost of revenue        
Total cost of revenue $ 102,737 $ 76,745 $ 164,633 $ 127,273