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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
Jun. 30, 2017
Current assets      
Cash and cash equivalents ($82,047, $94,359 and $80,195 related to consolidated construction joint ventures (“CCJVs”)) $ 195,515 $ 233,711 $ 178,068
Short-term marketable securities 20,014 67,775 47,821
Receivables, net ($38,828, $52,031 and $42,099 related to CCJVs) 492,718 479,791 484,245
Contract assets ($24,479, $0 and $0 related to CCJVs) 265,190 0 0
Costs and estimated earnings in excess of billings ($0, $1,437 and $3,124 related to CCJVs) 0 103,965 99,883
Inventories 96,024 62,497 65,495
Equity in construction joint ventures 252,467 247,826 230,448
Other current assets ($12,421, $10,384 and $7,190 related to CCJVs) 49,100 36,513 43,597
Total current assets 1,371,028 1,232,078 1,149,557
Property and equipment, net ($38,854, $38,361 and $28,398 related to CCJVs) 595,787 407,418 414,079
Long-term marketable securities 61,191 65,015 59,990
Investments in affiliates 99,495 38,469 37,170
Goodwill 246,881 53,799 53,799
Deferred income taxes, net 25,135 0 0
Other noncurrent assets 156,808 75,199 88,550
Total assets 2,556,325 1,871,978 1,803,145
Current liabilities      
Current maturities of long-term debt 207,982 46,048 14,796
Accounts payable ($35,375, $34,795 and $24,976 related to CCJVs) 303,885 237,673 252,527
Contract liabilities ($40,678, $0 and $0 related to CCJVs) 91,864 0 0
Billings in excess of costs and estimated earnings ($0, $37,701 and $32,657 related to CCJVs) 0 135,146 114,180
Accrued expenses and other current liabilities ($2,147, $2,126 and $1,156 related to CCJVs) 293,959 236,407 231,048
Total current liabilities 897,690 655,274 612,551
Long-term debt 280,710 178,453 227,114
Deferred income taxes, net 5,759 1,361 5,420
Other long-term liabilities 71,180 44,085 47,983
Commitments and contingencies 0 0 0
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: 45,688,582 shares as of June 30, 2018, 39,871,314 shares as of December 31, 2017 and 39,837,295 shares as of June 30, 2017 457 399 398
Additional paid-in capital 516,680 160,376 155,476
Accumulated other comprehensive income 1,022 634 71
Retained earnings 737,417 783,699 715,451
Total Granite Construction Incorporated shareholders’ equity 1,255,576 945,108 871,396
Non-controlling interests 45,410 47,697 38,681
Total equity 1,300,986 992,805 910,077
Total liabilities and equity $ 2,556,325 $ 1,871,978 $ 1,803,145