Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] |
Three months ended March 31, 2022 | | | As Previously Reported | | | | Restatement Impacts | | | | As Restated | | | | Discontinued Operations Reclassification Impacts | | | | As Restated and Recast | |
Revenue | | | | | | | | | | | | | | | | | | | | |
Construction | | $ | 474,935 | | | $ | 1,893 | | | $ | 476,828 | | | $ | 101,438 | | | $ | 578,266 | |
Materials | | | 72,651 | | | | - | | | | 72,651 | | | | 2,969 | | | | 75,620 | |
Total revenue | | | 547,586 | | | | 1,893 | | | | 549,479 | | | | 104,407 | | | | 653,886 | |
Cost of revenue | | | | | | | | | | | | | | | | | | | | |
Construction | | | 426,743 | | | | 6,019 | | | | 432,762 | | | | 87,025 | | | | 519,787 | |
Materials | | | 71,068 | | | | - | | | | 71,068 | | | | 2,939 | | | | 74,007 | |
Total cost of revenue | | | 497,811 | | | | 6,019 | | | | 503,830 | | | | 89,964 | | | | 593,794 | |
Gross profit | | | 49,775 | | | | (4,126 | ) | | | 45,649 | | | | 14,443 | | | | 60,092 | |
Selling, general and administrative expenses | | | 58,501 | | | | - | | | | 58,501 | | | | 11,619 | | | | 70,120 | |
Other costs, net | | | 8,214 | | | | - | | | | 8,214 | | | | (1,935 | ) | | | 6,279 | |
Gain on sales of property and equipment, net | | | (332 | ) | | | - | | | | (332 | ) | | | (266 | ) | | | (598 | ) |
Operating loss | | | (16,608 | ) | | | (4,126 | ) | | | (20,734 | ) | | | 5,025 | | | | (15,709 | ) |
Other (income) expense | | | | | | | | | | | | | | | | | | | | |
Interest income | | | (623 | ) | | | - | | | | (623 | ) | | | 53 | | | | (570 | ) |
Interest expense | | | 3,575 | | | | - | | | | 3,575 | | | | 10 | | | | 3,585 | |
Equity in income (loss) of affiliates | | | 306 | | | | - | | | | 306 | | | | (1,595 | ) | | | (1,289 | ) |
Other income, net | | | 1,382 | | | | - | | | | 1,382 | | | | (74 | ) | | | 1,308 | |
Total other expense, net | | | 4,640 | | | | - | | | | 4,640 | | | | (1,606 | ) | | | 3,034 | |
Loss from continuing operations before income taxes | | | (21,248 | ) | | | (4,126 | ) | | | (25,374 | ) | | | 6,631 | | | | (18,743 | ) |
Provision for (benefit from) income taxes on continuing operations | | | (5,331 | ) | | | (958 | ) | | | (6,289 | ) | | | 12,641 | | | | 6,352 | |
Net loss from continuing operations | | | (15,917 | ) | | | (3,168 | ) | | | (19,085 | ) | | | (6,010 | ) | | | (25,095 | ) |
Net Income (loss) from discontinued operations | | | 6,096 | | | | (12,106 | ) | | | (6,010 | ) | | | 6,010 | | | | - | |
Net loss | | | (9,821 | ) | | | (15,274 | ) | | | (25,095 | ) | | | - | | | | (25,095 | ) |
Amount attributable to non-controlling interests | | | (3,118 | ) | | | 1,480 | | | | (1,638 | ) | | | - | | | | (1,638 | ) |
Net loss attributable to Granite Construction Incorporated from continuing operations | | | (19,035 | ) | | | (1,688 | ) | | | (20,723 | ) | | | (6,010 | ) | | | (26,733 | ) |
Net income (loss) attributable to Granite Construction Incorporated from discontinued operations | | | 6,096 | | | | (12,106 | ) | | | (6,010 | ) | | | 6,010 | | | | - | |
Net loss attributable to Granite Construction Incorporated | | $ | (12,939 | ) | | $ | (13,794 | ) | | $ | (26,733 | ) | | $ | - | | | $ | (26,733 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net income (loss) per share attributable to common shareholders | | | | | | | | | | | | | | | | | | | | |
Basic continuing operations per share | | $ | (0.42 | ) | | $ | (0.03 | ) | | $ | (0.45 | ) | | $ | (0.13 | ) | | $ | (0.58 | ) |
Basic discontinued operations per share | | | 0.13 | | | | (0.26 | ) | | | (0.13 | ) | | | 0.13 | | | | - | |
Basic loss per share | | $ | (0.29 | ) | | $ | (0.29 | ) | | $ | (0.58 | ) | | $ | - | | | $ | (0.58 | ) |
| | | | | | | | | | | | | | | | | | | | |
Diluted continuing operations per share | | $ | (0.42 | ) | | $ | (0.03 | ) | | $ | (0.45 | ) | | $ | (0.13 | ) | | $ | (0.58 | ) |
Diluted discontinued operations per share | | | 0.13 | | | | (0.26 | ) | | | (0.13 | ) | | | 0.13 | | | | - | |
Diluted loss per share | | $ | (0.29 | ) | | $ | (0.29 | ) | | $ | (0.58 | ) | | $ | - | | | $ | (0.58 | ) |
Weighted average shares outstanding: | | | | | | | | | | | | | | | | | | | | |
Basic | | | 45,730 | | | | - | | | | 45,730 | | | | - | | | | 45,730 | |
Diluted | | | 45,730 | | | | - | | | | 45,730 | | | | - | | | | 45,730 | |
Three months ended March 31, 2022 | | As Previously Reported | | | Restatement Impacts | | | As Restated | |
Operating activities | | | | | | | | | | | | |
Net loss | | $ | (9,821 | ) | | $ | (15,274 | ) | | $ | (25,095 | ) |
Adjustments to reconcile net loss to net cash used in operating activities: | | | | | | | | | | | | |
Depreciation, depletion and amortization | | | 16,737 | | | | - | | | | 16,737 | |
Amortization related to long-term debt | | | 652 | | | | - | | | | 652 | |
Gain on sale of business | | | (6,234 | ) | | | 2,956 | | | | (3,278 | ) |
Gain on sales of property and equipment, net | | | (598 | ) | | | - | | | | (598 | ) |
Deferred income taxes | | | 2,545 | | | | - | | | | 2,545 | |
Stock-based compensation | | | 2,614 | | | | - | | | | 2,614 | |
Equity in net loss from unconsolidated joint ventures | | | 3,627 | | | | - | | | | 3,627 | |
Net income from affiliates | | | (1,289 | ) | | | - | | | | (1,289 | ) |
Other non-cash adjustments | | | (299 | ) | | | - | | | | (299 | ) |
Changes in assets and liabilities: | | | | | | | | | | | | |
Receivables | | | 85,957 | | | | - | | | | 85,957 | |
Contract assets, net | | | (72,632 | ) | | | 2,813 | | | | (69,819 | ) |
Inventories | | | (13,805 | ) | | | - | | | | (13,805 | ) |
Contributions to unconsolidated construction joint ventures | | | (12,840 | ) | | | - | | | | (12,840 | ) |
Distributions from unconsolidated construction joint ventures and affiliates | | | 250 | | | | - | | | | 250 | |
Other assets, net | | | 1,264 | | | | 8,388 | | | | 9,652 | |
Accounts payable | | | (44,028 | ) | | | - | | | | (44,028 | ) |
Accrued expenses and other liabilities, net | | | (2,280 | ) | | | 1,117 | | | | (1,163 | ) |
Net cash used in operating activities | | $ | (50,180 | ) | | $ | - | | | $ | (50,180 | ) |
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