Investments in Affiliates

3 Months Ended

Mar. 31, 2018

Investments In And Advances To Affiliates Schedule Of Investments [Abstract]

Investments in Affiliates

11. Investments in Affiliates

Our investments in affiliates balance is related to our investments in unconsolidated non-construction entities that we account for using the equity method of accounting, including investments in real estate entities and a non-real estate entity.

Our investments in affiliates balance consists of the following:

(in thousands)	March 31, 2018		December 31, 2017		March 31, 2017
Equity method investments in real estate affiliates	$	29,829	$	29,472	$	26,883
Equity method investment in other affiliate		8,853		8,997		9,527
Total investments in affiliates	$	38,682	$	38,469	$	36,410

The following table provides summarized balance sheet information for our affiliates accounted for under the equity method on a combined basis:

(in thousands)	March 31, 2018		December 31, 2017		March 31, 2017
Total assets	$	123,562	$	160,359	$	150,637
Net assets		69,637		98,592		93,675
Granite’s share of net assets		38,682		38,469		36,410

The equity method investments in real estate affiliates included $24.6 million, $24.3 million and $21.8 million in residential real estate in Texas as of March 31, 2018, December 31, 2017 and March 31, 2017, respectively. The remaining balances were in commercial real estate in Texas. Of the $123.6 million in total assets as of March 31, 2018, real estate entities had total assets ranging from $1.7 million to $65.4 million and the non-real estate entity had total assets of $21.5 million.