Investments in Affiliates

6 Months Ended

Jun. 30, 2019

Investments In And Advances To Affiliates Schedule Of Investments [Abstract]

Investments in Affiliates

12.  Investments in Affiliates

Our investments in affiliates balance consists of equity method investments in the following types of entities:

(in thousands)	June 30, 2019		December 31, 2018		June 30, 2018
Foreign	$	55,563	$	55,715	$	63,000
Real estate		17,781		19,676		27,591
Asphalt terminal		8,765		8,963		8,904
Total investments in affiliates	$	82,109	$	84,354	$	99,495

The following table provides summarized balance sheet information for our affiliates accounted for under the equity method on a combined basis:

(in thousands)	June 30, 2019		December 31, 2018		June 30, 2018
Current assets	$	138,564	$	141,930	$	136,953
Noncurrent assets		182,561		170,172		173,384
Total assets		321,125		312,102		310,337
Current liabilities		70,435		55,816		54,710
Long-term liabilities1		70,381		63,098		54,383
Total liabilities		140,816		118,914		109,093
Net assets		180,309		193,188		201,244
Granite’s share of net assets	$	82,109	$	84,354	$	99,495

¹The balance primarily relates to debt associated with our real estate investments.

Of the $321.1 million in total assets as of June 30, 2019, we had investments in thirteen foreign entities with total assets ranging from $0.2 million to $76.6 million, four real estate entities with total assets ranging from $0.4 million to $52.3 million and the asphalt terminal entity had total assets of $28.1 million. We have direct and indirect investments in the foreign entities and our percent ownership ranged from 25.0% to 50.0% as of June 30, 2019. The equity method investments in real estate affiliates included $14.2 million, $16.3 million and $24.0 million in residential real estate in Texas as of June 30, 2019, December 31, 2018 and June 30, 2018, respectively. The remaining balances were in commercial real estate in Texas.