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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Mar. 31, 2018
Current assets      
Cash and cash equivalents ($131,481, $131,965 and $91,903 related to consolidated construction joint ventures (“CCJVs”)) $ 200,263 $ 272,804 $ 193,581
Short-term marketable securities 36,049 30,002 39,961
Receivables, net ($24,990, $21,237 and $17,598 related to CCJVs) 368,215 473,246 330,192
Contract assets ($15,140, $19,699 and $23,889 related to CCJVs) 260,250 219,754 178,663
Inventories 96,862 88,623 71,295
Equity in construction joint ventures 300,489 282,229 254,816
Other current assets ($11,795, $11,744 and $14,180 related to CCJVs) 54,590 48,731 43,125
Total current assets 1,316,718 1,415,389 1,111,633
Property and equipment, net ($35,377, $34,761 and $44,655 related to CCJVs) 552,504 549,688 409,708
Long-term marketable securities 30,000 36,098 67,305
Investments in affiliates 81,034 84,354 38,682
Goodwill 259,695 259,471 53,799
Right of use assets 71,480 0 0
Other noncurrent assets 128,349 131,601 78,100
Total assets 2,439,780 2,476,601 1,759,227
Current liabilities      
Current maturities of long-term debt 47,281 47,286 47,298
Accounts payable ($41,013, $37,086 and $31,854 related to CCJVs) 216,966 251,481 226,253
Contract liabilities ($46,775, $60,288 and $33,760 related to CCJVs) 90,752 105,449 71,030
Accrued expenses and other current liabilities ($3,269, $2,046 and $2,090 related to CCJVs) 265,102 273,626 233,637
Total current liabilities 620,101 677,842 578,218
Long-term debt 333,290 335,119 176,011
Lease liabilities 60,237 0 0
Other long-term liabilities 64,219 66,006 40,104
Commitments and contingencies (Note 18) 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: 46,812,366 shares as of March 31, 2019, 46,665,889 shares as of December 31, 2018 and 40,047,187 shares as of March 31, 2018 468 467 400
Additional paid-in capital 566,497 564,559 162,038
Accumulated other comprehensive (loss) income (626) (749) 1,197
Retained earnings 746,100 787,356 751,801
Total Granite Construction Incorporated shareholders’ equity 1,312,439 1,351,633 915,436
Non-controlling interests 49,494 46,001 49,458
Total equity 1,361,933 1,397,634 964,894
Total liabilities and equity $ 2,439,780 $ 2,476,601 $ 1,759,227