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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Sep. 30, 2021
Current assets      
Cash and cash equivalents $ 255,084 $ 395,647 $ 464,049
Short-term marketable securities 39,873 0 0
Receivables, net 618,144 464,588 [1] 684,822
Contract assets 241,238 145,437 204,046
Inventories 81,296 61,965 77,412
Equity in construction joint ventures 186,824 189,911 195,354
Other current assets 157,231 177,210 39,749
Current assets held-for-sale 0 392,641 0
Total current assets 1,579,690 1,827,399 1,665,432
Property and equipment, net 500,827 433,504 [1] 510,658
Long-term marketable securities 21,575 15,600 10,600
Investments in affiliates 78,663 23,368 72,415
Goodwill 73,704 53,715 116,788
Right of use assets 49,590 49,312 58,226
Deferred income taxes, net 45,650 24,141 41,228
Other noncurrent assets 58,265 67,888 86,409
Total assets 2,407,964 2,494,927 2,561,756
Current liabilities      
Current maturities of long-term debt 1,438 8,727 8,718
Accounts payable 398,285 324,313 397,152
Contract liabilities 191,037 200,041 195,267
Accrued expenses and other current liabilities 450,223 452,829 499,214
Current liabilities held-for-sale 0 83,408 0
Total current liabilities 1,040,983 1,069,318 1,100,351
Long-term debt 286,872 331,191 331,192
Long-term lease liabilities 32,701 32,928 39,908
Other long-term liabilities 60,664 65,927 67,951
Commitments and contingencies (see Note 18)
Equity      
Preferred stock, $0.01 par value, authorized 3,000,000 shares, none outstanding 0 0 0
Common stock, $0.01 par value, authorized 150,000,000 shares; issued and outstanding: 43,723,658 shares as of September 30, 2022, 45,840,260 shares as of December 31, 2021 and 45,826,409 shares as of September 30, 2021 437 458 458
Additional paid-in capital 468,662 559,752 558,121
Accumulated other comprehensive income (loss) 535 (3,359) (3,468)
Retained earnings 481,489 410,831 430,074
Total Granite Construction Incorporated shareholders’ equity 951,123 967,682 985,185
Non-controlling interests 35,621 27,881 37,169
Total equity 986,744 995,563 1,022,354
Total liabilities and equity $ 2,407,964 $ 2,494,927 $ 2,561,756
[1] These balances do not include amounts held for sale (see Note 3).