We participate in various construction joint ventures. We have determined that certain of these joint ventures are consolidated because they are variable interest entities (“VIEs”) and we are the primary beneficiary. We continually evaluate whether there are changes in the status of the VIEs or changes to the primary beneficiary designation of the VIE. Based on our assessments during the three months ended March 31, 2019, we determined no change was required for existing joint ventures.

Due to the joint and several nature of the performance obligations under the related owner contracts, if any of the partners fail to perform, we and the remaining partners, if any, would be responsible for performance of the outstanding work (i.e., we provide a performance guarantee). At March 31, 2019, there was approximately $2.8 billion of construction revenue to be recognized on unconsolidated and line item construction joint venture contracts of which $0.9 billion represented our share and the remaining $1.9 billion represented our partners’ share. We are not able to estimate amounts that may be required beyond the remaining cost of the work to be performed. These costs could be offset by billings to the customer or by proceeds from our partners’ corporate and/or other guarantees.

At March 31, 2019, we were engaged in six active CCJV projects with total contract values ranging from $14.8 million to $409.7 million for a combined total of $1.1 billion. Our share of revenue remaining to be recognized on these CCJVs was $330.1 million and ranged between $0.2 million and $162.3 million. Our proportionate share of the equity in these joint ventures was between 50.0% and 65.0%. During the three months ended March 31, 2019 and 2018, total revenue from CCJVs was $67.0 million and $43.8 million, respectively. During the three months ended March 31, 2019 and 2018, CCJVs provided $3.0 million and used $2.5 million of operating cash flows, respectively.

As of March 31, 2019, we were engaged in nine active unconsolidated joint venture projects with total contract values ranging from $0.1 million to $3.8 billion for a combined total of $11.3 billion of which our share was $3.3 billion. Our proportionate share of the equity in these unconsolidated construction joint ventures ranged from 20.0% to 50.0%. As of March 31, 2019, our share of the revenue remaining to be recognized on these unconsolidated construction joint ventures was $914.5 million and ranged from $1.9 million to $247.8 million.

The following is summary financial information related to unconsolidated construction joint ventures:

(in thousands)	March 31, 2019		December 31, 2018		March 31, 2018
Assets
Cash, cash equivalents and marketable securities	$	281,355	$	229,562	$	325,157
Other current assets¹		847,789		814,979		627,602
Noncurrent assets		215,129		204,090		219,435
Less partners’ interest		885,901		822,215		757,537
Granite’s interest^1,2		458,372		426,416		414,657
Liabilities
Current liabilities		533,325		525,036		605,639
Less partners’ interest and adjustments³		372,770		369,782		423,518
Granite’s interest		160,555		155,254		182,121
Equity in construction joint ventures⁴	$	297,817	$	271,162	$	232,536

¹Included in this balance and in accrued expenses and other current liabilities on our condensed consolidated balance sheets was $88.2 million related to performance guarantees as of both March 31, 2019 and December 31, 2018 and $88.6 million as of March 31, 2018.

²Included in this balance as of March 31, 2019, December 31, 2018 and March 31, 2018 was $80.8 million, $78.1 million and $65.0 million, respectively, related to Granite’s share of estimated cost recovery of customer affirmative claims. In addition, this balance included $16.0 million, $15.6 million and $11.3 million related to Granite’s share of estimated recovery of back charge claims as of March 31, 2019, December 31, 2018 and March 31, 2018, respectively.

³Partners’ interest and adjustments includes amounts to reconcile total net assets as reported by our partners to Granite’s interest adjusted to reflect our accounting policies and estimates primarily related to contract forecast differences.

⁴Included in this balance and in accrued expenses and other current liabilities on the condensed consolidated balance sheets were amounts related to deficits in construction joint ventures that were $2.7 million, $11.5 million and $22.3 million as of March 31, 2019, December 31, 2018 and March 31, 2018, respectively.

	Three Months Ended March 31,
(in thousands)	2019		2018
Revenue
Total	$	415,934	$	239,441
Less partners’ interest and adjustments¹		283,441		121,032
Granite’s interest		132,493		118,409
Cost of revenue
Total		411,485		380,889
Less partners’ interest and adjustments¹		280,006		266,501
Granite’s interest		131,479		114,388
Granite’s interest in gross profit	$	1,014	$	4,021

¹Partners’ interest and adjustments includes amounts to reconcile total revenue and total cost of revenue as reported by our partners to Granite’s interest adjusted to reflect our accounting policies and estimates primarily related to contract forecast differences.

During the three months ended March 31, 2019 and 2018, unconsolidated construction joint venture net income/(loss) was $5.2 million and $(141.0) million, respectively, of which our share was net income of $0.5 million and $2.6 million, respectively. The differences between our share of the joint venture net loss during 2018 when compared to the joint venture net loss primarily resulted from differences between our estimated total revenue and cost of revenue when compared to that of our partners’ on four projects. These joint venture net income amounts exclude our corporate overhead required to manage the joint ventures and include taxes only to the extent the applicable states have joint venture level taxes.