XML 96 R83.htm IDEA: XBRL DOCUMENT v3.10.0.1
Weighted Average Shares Outstanding and Net Income Per Share - Summary of Reconciliation of Weighted Average Shares Outstanding in Basic and Diluted Net Income Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Earnings Per Share [Abstract]        
Net income allocated to common shareholders for basic calculation $ 55,672 $ 45,982 $ 35,864 $ 36,325
Effect of dilutive convertible notes 296 0 0 0
Net income allocated to common shareholders for diluted calculation $ 55,968 $ 45,982 $ 35,864 $ 36,325
Weighted average common shares outstanding, basic 46,308 39,844 42,443 39,774
Dilutive effect of convertible notes, restricted stock units and common stock options [1] 1,502 543 467 593
Weighted average common shares outstanding, diluted 47,810 40,387 42,910 40,367
Net income per share, basic $ 1.20 $ 1.15 $ 0.84 $ 0.91
Net income per share, diluted $ 1.17 $ 1.14 $ 0.84 $ 0.90
[1] 1Weighted average shares of approximately 1.1 million have been included in the number of shares used in calculating diluted net income per share for the three months ended September 30, 2018 based on the assumption that the 8% Convertible Notes were converted to Granite shares as of July 1, 2018 through their conversion on August 15, 2018. The shares have been excluded from the nine months ended September 30, 2018 as their inclusion would be antidilutive. See Note 14 for further discussion on the 8% Convertible Notes