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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Jun. 30, 2018
Current assets      
Cash and cash equivalents ($115,933, $131,965 and $82,047 related to consolidated construction joint ventures (“CCJVs”)) $ 144,958 $ 272,804 $ 195,515
Short-term marketable securities 41,037 30,002 20,014
Receivables, net ($31,656, $21,237 and $38,828 related to CCJVs) 551,958 473,246 492,718
Contract assets ($23,500, $19,699 and $24,479 related to CCJVs) 257,650 219,754 265,190
Inventories 102,163 88,623 96,024
Equity in construction joint ventures 241,786 282,229 252,467
Other current assets ($11,440, $11,744 and $12,421 related to CCJVs) 63,056 48,731 49,100
Total current assets 1,402,608 1,415,389 1,371,028
Property and equipment, net ($31,560, $34,761 and $38,854 related to CCJVs) 557,118 549,688 595,787
Long-term marketable securities 20,000 36,098 61,191
Investments in affiliates 82,109 84,354 99,495
Goodwill 264,107 259,471 246,881
Right of use assets 73,439 0 0
Deferred income taxes, net 36,055 2,918 25,135
Other noncurrent assets 122,705 128,683 156,808
Total assets 2,558,141 2,476,601 2,556,325
Current liabilities      
Current maturities of long-term debt 48,397 47,286 207,982
Accounts payable ($50,338, $37,086 and $35,375 related to CCJVs) 303,128 251,481 303,885
Contract liabilities ($29,055, $60,288 and $40,678 related to CCJVs) 119,289 105,449 91,864
Accrued expenses and other current liabilities ($4,017, $2,046 and $2,147 related to CCJVs) 339,047 273,626 293,959
Total current liabilities 809,861 677,842 897,690
Long-term debt 366,896 335,119 280,710
Lease liabilities 60,868 0 0
Deferred income taxes, net 4,680 4,317 5,759
Other long-term liabilities 58,268 61,689 71,180
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: 46,838,199 shares as of June 30, 2019, 46,665,889 shares as of December 31, 2018 and 45,688,582 shares as of June 30, 2018 468 467 457
Additional paid-in capital 568,264 564,559 516,680
Accumulated other comprehensive (loss) income (3,448) (749) 1,022
Retained earnings 642,124 787,356 737,417
Total Granite Construction Incorporated shareholders’ equity 1,207,408 1,351,633 1,255,576
Non-controlling interests 50,160 46,001 45,410
Total equity 1,257,568 1,397,634 1,300,986
Total liabilities and equity $ 2,558,141 $ 2,476,601 $ 2,556,325