Granite Construction (GVA) 10-Q 1 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	6 Months Ended
	Jun. 30, 2017	Jul. 28, 2017
Entity Information [Line Items]
Entity Registrant Name	GRANITE CONSTRUCTION INC
Entity Central Index Key	861,459
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		39,841,304

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Current Assets
Cash and cash equivalents ($80,195, $73,115 and $50,065 related to consolidated construction joint ventures (“CCJVs”))	$ 178,068	$ 189,326	$ 161,218
Short-term marketable securities	47,821	64,884	34,959
Receivables, net ($42,099, $52,613 and $59,923 related to CCJVs)	484,245	419,345	431,127
Costs and estimated earnings in excess of billings ($3,124, $5,046 and $451 related to CCJVs)	99,883	73,102	86,025
Inventories	65,495	55,245	64,711
Equity in construction joint ventures	230,448	247,182	245,509
Other current assets ($7,190, $7,500 and $8,489 related to CCJVs)	43,597	39,908	31,949
Total current assets	1,149,557	1,088,992	1,055,498
Property and equipment, net ($28,398, $20,500 and $13,420 related to CCJVs)	414,079	406,650	409,860
Long-term marketable securities	59,990	62,895	42,653
Investments in affiliates	37,170	35,668	34,517
Goodwill	53,799	53,799	53,799
Deferred Tax Assets, Net	0	0	5,407
Other noncurrent assets	88,550	85,449	84,095
Total assets	1,803,145	1,733,453	1,685,829
Current liabilities
Current maturities of long-term debt	14,796	14,796	14,795
Accounts payable ($24,976, $26,419 and $25,061 related to CCJVs)	252,527	199,029	210,923
Billings in excess of costs and estimated earnings ($32,657, $33,704 and $18,687 related to CCJVs)	114,180	97,522	90,484
Accrued expenses and other current liabilities ($1,156, $1,544 and $1,529 related to CCJVs)	231,048	218,587	212,986
Total current liabilities	612,551	529,934	529,188
Long-term debt	227,114	229,498	241,907
Deferred income taxes, net	5,420	5,441	0
Other long-term liabilities	47,983	45,989	45,719
Commitments and contingencies
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: 39,837,295 shares as of June 30, 2017, 39,621,140 shares as of December 31, 2016 and 39,597,469 shares as of June 30, 2016	398	396	396
Additional paid-in capital	155,476	150,337	145,156
Accumulated other comprehensive income (loss)	71	(371)	(1,811)
Retained earnings	715,451	735,626	692,740
Total Granite Construction Incorporated shareholders’ equity	871,396	885,988	836,481
Non-controlling interests	38,681	36,603	32,534
Total equity	910,077	922,591	869,015
Total liabilities and equity	$ 1,803,145	$ 1,733,453	$ 1,685,829

CONSOLIDATED BALANCE SHEETS Con

CONSOLIDATED BALANCE SHEETS Consolidated Balance Sheets Parenthetical (Assets and Liabilities) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Cash and cash equivalents	$ 178,068	$ 189,326	$ 161,218
Costs and estimated earnings in excess of billings	99,883	73,102	86,025
Other current assets	43,597	39,908	31,949
Property and equipment, net	414,079	406,650	409,860
Accounts payable	252,527	199,029	210,923
Billings in excess of costs and estimated earnings	114,180	97,522	90,484
Accrued expenses and other current liabilities	231,048	218,587	212,986
Consolidated Construction Joint Venture | Joint Venture Consolidated
Cash and cash equivalents	80,195	73,115	50,065
Receivables, Net	42,099	52,613	59,923
Costs and estimated earnings in excess of billings	3,124	5,046	451
Other current assets	7,190	7,500	8,489
Property and equipment, net	28,398	20,500	13,420
Accounts payable	24,976	26,419	25,061
Billings in excess of costs and estimated earnings	32,657	33,704	18,687
Accrued expenses and other current liabilities	$ 1,156	$ 1,544	$ 1,529

CONSOLIDATED BALANCE SHEETS Co4

CONSOLIDATED BALANCE SHEETS Consolidated Balance Sheets Parenthetical (Equity) - $ / shares	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	3,000,000	3,000,000	3,000,000
Preferred Stock, Shares Outstanding	0	0	0
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01	$ 0.01
Common Stock, Shares Authorized	150,000,000	150,000,000	150,000,000
Common Stock, Shares, Issued	39,837,295	39,621,140	39,597,469
Common Stock, Shares, Outstanding	39,837,295	39,621,140	39,597,469

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenue
Construction	$ 429,269	$ 331,346	$ 656,118	$ 540,833
Large Project Construction	254,463	197,322	461,496	392,771
Construction Materials	79,181	75,911	113,699	110,427
Total revenue	762,913	604,579	1,231,313	1,044,031
Cost of revenue
Construction	366,765	282,290	565,665	464,844
Large Project Construction	253,968	183,668	458,446	365,612
Construction Materials	67,610	65,420	107,506	101,129
Total cost of revenue	688,343	531,378	1,131,617	931,585
Gross profit	74,570	73,201	99,696	112,446
Selling, general and administrative expenses	51,388	48,705	113,225	104,838
Gain on sales of property and equipment	(807)	(1,366)	(1,077)	(1,966)
Operating income (loss)	23,989	25,862	(12,452)	9,574
Other (income) expense
Interest income	(1,164)	(798)	(2,215)	(1,634)
Interest expense	2,694	3,187	5,437	6,236
Equity in income of affiliates	(1,259)	(717)	(2,175)	(2,159)
Other income, net	(642)	(3,183)	(1,512)	(4,555)
Total other income	(371)	(1,511)	(465)	(2,112)
Income (loss) before provision for (benefit from) income taxes	24,360	27,373	(11,987)	11,686
Provision for (benefit from) income taxes	8,088	8,847	(4,408)	2,923
Net income (loss)	16,272	18,526	(7,579)	8,763
Amount attributable to non-controlling interests	2,139	4,327	2,078	5,005
Net income (loss) attributable to Granite Construction Incorporated	$ 14,133	$ 14,199	$ (9,657)	$ 3,758
Net income (loss) per share attributable to common shareholders (see Note 11)
Basic (in dollars per share)	$ 0.35	$ 0.36	$ (0.24)	$ 0.10
Diluted (in dollars per share)	$ 0.35	$ 0.35	$ (0.24)	$ 0.09
Weighted average shares of common stock
Weighted average common shares outstanding, basic	39,827	39,584	39,738	39,509
Weighted average common shares outstanding, diluted	40,393	40,302	39,738	40,140
Dividends per common share (in US$ per share)	$ 0.13	$ 0.13	$ 0.26	$ 0.26

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 16,272	$ 18,526	$ (7,579)	$ 8,763
Other comprehensive income (loss), net of tax:
Net unrealized loss on derivatives	(261)	(507)	(209)	(1,398)
Less: reclassification for net losses included in interest expense	47	100	116	100
Net change	(214)	(407)	(93)	(1,298)
Foreign currency translation adjustments, net	542	165	535	987
Other comprehensive income (loss)	328	(242)	442	(311)
Comprehensive income (loss)	16,600	18,284	(7,137)	8,452
Non-controlling interests in comprehensive loss	(2,139)	(4,327)	(2,078)	(5,005)
Comprehensive income (loss) attributable to Granite	$ 14,461	$ 13,957	$ (9,215)	$ 3,447

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Operating Activities
Net (loss) income	$ (7,579)	$ 8,763
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation, depletion and amortization	31,148	29,502
Gain on sales of property and equipment	(1,077)	(1,966)
Stock-based compensation	11,224	8,563
Equity in net loss (income) from unconsolidated joint ventures	8,249	(5,688)
Gain on real estate entity	0	(2,452)
Changes in assets and liabilities:
Receivables	(64,864)	(87,286)
Costs and estimated earnings in excess of billings, net	(28,284)	(30,645)
Inventories	(10,250)	(9,158)
Contributions to unconsolidated construction joint ventures	(750)	(8,018)
Distributions from unconsolidated construction joint ventures	32,494	5,445
Other assets, net	(9,212)	(7,544)
Accounts payable	52,417	47,529
Accrued expenses and other current liabilities, net	9,170	(158)
Net cash provided by (used in) operating activities	22,686	(53,113)
Investing Activities
Purchases of marketable securities	(49,816)	(29,894)
Maturities of marketable securities	70,000	20,000
Proceeds from called marketable securities	0	35,000
Purchases of property and equipment ($7,492 and $9,044 related to CCJVs)	(37,518)	(48,837)
Proceeds from sales of property and equipment	2,585	2,510
Other investing activities, net	23	(128)
Net cash used in investing activities	(14,726)	(21,349)
Financing Activities
Long-term debt principal repayments	(2,500)	(2,500)
Cash dividends paid	(10,327)	(10,267)
Repurchases of common stock	(6,568)	(4,845)
Other financing activities, net	177	456
Net cash used in financing activities	(19,218)	(17,156)
Decrease in cash and cash equivalents	(11,258)	(91,618)
Cash and cash equivalents at beginning of period	189,326	252,836
Cash and cash equivalents at end of period	178,068	161,218
Cash paid during the period for:
Interest	5,957	6,911
Income taxes	2,554	6,438
Other non-cash operating activities:
Performance guarantees	5,761	11,247
Non-cash investing and financing activities:
Restricted stock units issued, net of forfeitures	11,254	21,013
Accrued cash dividends	5,179	5,148
Accrued equipment purchases	(1,271)	(5,823)
Consolidated Construction Joint Venture | Joint Venture Consolidated
Changes in assets and liabilities:
Net cash provided by (used in) operating activities	19,200	12,800
Investing Activities
Purchases of property and equipment ($7,492 and $9,044 related to CCJVs)	7,492	9,044
Financing Activities
Cash and cash equivalents at beginning of period	73,115
Cash and cash equivalents at end of period	$ 80,195	$ 50,065

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements included herein have been prepared by Granite Construction Incorporated (“we,” “us,” “our,” “the Company” or “Granite”) and are unaudited, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2016 . Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted. Further, the condensed consolidated financial statements reflect, in the opinion of management, all normal recurring adjustments necessary to state fairly our financial position at June 30, 2017 and 2016 and the results of our operations and cash flows for the periods presented. The December 31, 2016 condensed consolidated balance sheet data was derived from audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP. Our operations are typically affected more by weather conditions during the first and fourth quarters of our fiscal year which may alter our construction schedules and can create variability in our revenues and profitability. Therefore, the results of operations for the three and six months ended June 30, 2017 are not necessarily indicative of the results to be expected for the full year. We prepared the accompanying condensed consolidated financial statements on the same basis as our annual consolidated financial statements, except for the adoption of Accounting Standards Update (“ASU”) No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, ASU No. 2016-05, Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships and ASU 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20), Premium Amortization on Purchased Callable Debt Securities during the six months ended June 30, 2017 . ASU No. 2016-01 eliminated the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the consolidated balance sheet, which related to our marketable securities and debt (see Note 5). ASU No. 2016-05 had no impact and ASU No. 2017-08 had an immaterial impact on our condensed consolidated financial statements.

Recent Pronouncements

Recent Pronouncements	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification ( “ASC”) Topic 606, Revenue from Contracts with Customers , and subsequently issued several related ASUs (“Topic 606”), which provide guidance for recognizing revenue from contracts with customers. The core principle of Topic 606 is that revenue will be recognized when promised goods or services are transferred to customers in an amount that reflects consideration for which entitlement is expected in exchange for those goods or services. Topic 606 will be effective commencing with our quarter ending March 31, 2018. We currently anticipate adopting Topic 606 using the modified retrospective transition approach that may result in a cumulative adjustment to beginning retained earnings as of January 1, 2018, which we will elect to only apply to contracts with customers that are not substantially complete as of January 1, 2018. Although we are in the process of assessing the financial impact of Topic 606 on our consolidated financial statements and related footnotes, we do not expect Topic 606 to have a material impact on our Construction Materials segment’s revenue. While we continue to assess the impact to both our Large Project Construction and Construction segments, our Large Project Construction segment is more likely to be impacted than our Construction segment in the following areas: • Multiple performance obligations - In accordance with Topic 606, construction contracts with customers, including those related to contract modifications, will be reviewed to determine if there are multiple performance obligations. If separate performance obligations are identified, the timing of revenue recognition and the recognition of provisions for loss could be impacted. Based on our assessment to-date on currently active construction contracts with customers, we have identified one unconsolidated joint venture contract in our Large Project Construction segment that will have multiple performance obligations. • Mobilization costs - Mobilization costs generally consist of costs to mobilize equipment and labor to a job site. Mobilization costs are currently recorded as job costs as they are incurred. Topic 606 requires mobilization costs to be capitalized as an asset on the consolidated balance sheets and amortized to contract cost over the expected duration of the contract. • Multiple contracts - Contracts containing task orders may be determined to consist of multiple individual contracts as defined by Topic 606. Based on our assessment to-date on currently active construction contracts with customers, we have identified a few Large Project Construction segment contracts and Construction segment contracts that will consist of multiple individual contracts as defined by Topic 606. • Provision for losses - Provisions for losses will be recognized in the consolidated statements of operations for the full amount of estimated losses at the uncompleted performance obligation level whenever evidence indicates that the estimated total cost of a performance obligation exceeds its estimated total revenue. Currently provisions for losses are recorded at the contract level. In addition to the above, we expect to separately present contract assets and liabilities on the consolidated balance sheets. Contract assets will include amounts due under contractual retainage provisions, receivables not contractually billable, costs and estimated earnings in excess of billings and capitalized mobilization costs. Contract liabilities will include provisions for losses and billings in excess of costs and estimated earnings. There will also be new disclosures related to revenue including information about unearned revenue and disaggregated revenue. Unearned revenue will be similar to our existing contract backlog but will only include project amounts when the related contract, contract options and task orders, as applicable, are executed rather than when awarded and funding is probable. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (a) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (b) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. The ASU will be effective commencing with our quarter ending March 31, 2019. While we continue to evaluate the effect of this ASU, we expect the adoption of this ASU to have a material impact on our assets and liabilities due to the recognition of right-of-use assets and lease liabilities on our consolidated balance sheets. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, which is intended to help companies evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses by providing a more robust framework to use in determining when a set of assets and activities is a business. This ASU will be effective commencing with our quarter ending March 31, 2018. We do not expect the adoption of this ASU to have an impact on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which eliminates Step 2 from the goodwill impairment test. The annual, or interim, goodwill impairment test is performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. This ASU will be effective commencing with our quarter ending March 31, 2020. We do not expect the adoption of this ASU to have a material impact on our consolidated financial statements. In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718) Scope of Modification Accounting, which clarifies that changes to the value, vesting conditions, or award classification of share-based payment awards must be accounted for as modifications. This ASU will be effective commencing with our quarter ending March 31, 2018. We do not expect the adoption of this ASU to have a material impact on our consolidated financial statements.

Revisions in Estimates

Revisions in Estimates	6 Months Ended
	Jun. 30, 2017
Change in Accounting Estimate [Abstract]
Revisions in Estimate	Revisions in Estimates Our profit recognition related to construction contracts is based on estimates of costs to complete each project. These estimates can vary significantly in the normal course of business as projects progress, circumstances develop and evolve, and uncertainties are resolved. When we experience significant changes in our estimates of costs to complete, we undergo a process that includes reviewing the nature of the changes to ensure that there are no material amounts that should have been recorded in a prior period rather than as revisions in estimates for the current period. We use the cumulative catch-up method applicable to construction contract accounting to account for revisions in estimates. Under this method, revisions in estimates are accounted for in their entirety in the period of change. There can be no assurance that we will not experience further changes in circumstances or otherwise be required to revise our cost estimates in the future. In our review of these changes for the three months ended June 30, 2017 and for the three and six months ended June 30, 2016 , we did not identify any material amounts that should have been recorded in a prior period. In our review of these changes for the six months ended June 30, 2017 , we identified and corrected amounts that should have been recorded during the three months ended September 30, 2016. This correction resulted in a $4.9 million decrease to Large Project Construction revenue and gross profit and a $1.6 million increase in net loss attributable to Granite Construction Incorporated. We have assessed the impact of this correction to the financial statements of prior periods’ and to the financial statements for the six months ended June 30, 2017 , and have concluded that the amounts were not material and are not expected to be material to the financial statements for the year ending December 31, 2017. In the normal course of business, we have revisions in estimated costs some of which are associated with unresolved affirmative claims and back charges. The estimated or actual recovery related to these estimated costs associated with unresolved affirmative claims and back charges may be recorded in future periods, which can cause fluctuations in the gross profit impact from revisions in estimates. Affirmative Claims Revisions in estimates for the three and six months ended June 30, 2017 included increases in revenue of $12.2 million and $14.0 million , respectively, related to the estimated cost recovery of customer affirmative claims, which included increases of $11.4 million and $14.1 million , respectively, which were also affected by an increase in estimated contract costs in excess of the estimated recovery during the three and six months ended June 30, 2017 , respectively. The remaining $0.8 million and offsetting decrease of $0.1 million , respectively, had estimated contract costs in excess of estimated cost recovery that were recorded in prior periods. Revisions in estimates for the three and six months ended June 30, 2016 included increases in revenue of $17.4 million and $20.2 million , respectively, related to the estimated cost recovery of customer affirmative claims, which included increases of $15.3 million that were also affected by an increase in estimated contract costs in excess of the estimated recovery during both the three and six months ended June 30, 2016 . The remaining $2.1 million and $4.9 million , respectively, had estimated contract costs in excess of estimated cost recovery that were recorded in prior periods. Back Charges Revisions in estimates for the three and six months ended June 30, 2017 included a reduction of cost of revenue of $2.7 million and $3.0 million , respectively, related to the estimated recovery of back charges of which $1.4 million was also affected by an increase in estimated contract costs that were in excess of the estimated recovery during both the three and six months ended June 30, 2017 . The remaining $1.3 million and $1.6 million , respectively, had estimated contract costs in excess of estimated cost recovery that were recorded in prior periods. Revisions in estimates for both the three and six months ended June 30, 2016 included a reduction of cost of revenue of $7.6 million related to the estimated recovery of back charges of which $2.2 million was also affected by an increase in estimated contract costs that were in excess of the estimated recovery during both the three and six months ended June 30, 2016 . The remaining $5.4 million had estimated contract costs in excess of estimated cost recovery that were recorded in prior periods. The tables below include the impact to gross profit from significant revisions in estimates related to estimated and actual recovery of customer affirmative claims and back charges as well as the associated estimated contract costs. Construction The changes in project profitability from revisions in estimates which individually had an impact of $1.0 million or more on gross profit were decreases of $1.1 million and $1.8 million for the three and six months ended June 30, 2017 , respectively. The changes for the three and six months ended June 30, 2016 were decreases of $1.0 million and $2.5 million , respectively. There were no increases in project profitability from revisions in estimates, which individually had an impact of $1.0 million or more on gross profit during the three and six months ended June 30, 2017 and 2016. The projects are summarized as follows: Decreases Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2017 2016 2017 2016 Number of projects with downward estimate changes 1 1 1 2 Range of reduction in gross profit from each project, net $ 1.1 $ 1.0 $ 1.8 $ 1.2 - 1.3 Decrease on project profitability $ 1.1 $ 1.0 $ 1.8 $ 2.5 The decreases during the three and six months ended June 30, 2017 and June 2016 were due to additional costs and lower productivity than originally anticipated. Large Project Construction The changes in project profitability from revisions in estimates, both increases and decreases, which individually had an impact of $1.0 million or more on gross profit were decreases of $23.8 million and $37.8 million for the three and six months ended June 30, 2017 , respectively. The net changes for the three and six months ended June 30, 2016 were net decreases of $4.8 million and $7.8 million , respectively. Amounts attributable to non-controlling interests were $0.4 million and $2.0 million of the decrease for the three and six months ended June 30, 2017 , respectively, and were $3.6 million of the net decreases for both the three and six months ended June 30, 2016 . The projects are summarized as follows: Increases Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2017 2016 2017 2016 Number of projects with upward estimate changes — 2 — 4 Range of increase in gross profit from each project, net $ — $ 2.9 - 6.9 $ — $ 1.2 - 6.9 Increase on project profitability $ — $ 9.8 $ — $ 12.3 The increases during the three and six months ended June 30, 2016 were due to estimated recovery from back charge claims and higher productivity than originally anticipated as well as owner-directed scope changes during the six month period. Decreases Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2017 2016 2017 2016 Number of projects with downward estimate changes 5 4 7 4 Range of reduction in gross profit from each project, net $ 1.1 - 8.1 $ 2.2 - 5.9 $ 1.0 - 10.8 $ 3.4 - 6.4 Decrease on project profitability $ 23.8 $ 14.6 $ 37.8 $ 20.1 The decreases during the three and six months ended June 30, 2017 were due to higher costs than originally anticipated as well as additional design, weather and owner-related costs, net of estimated and actual recovery from customer affirmative claims and back charges. The decreases during the three and six months ended June 30, 2016 were due to additional design, weather and owner-related costs and lower productivity than originally anticipated. As of June 30, 2017 , there were projects for which additional costs, including liquidated damages, were reasonably possible but the range of costs was not estimable. The range will be determined as the projects proceed, and the outcomes could have a material effect on our financial position, results of operations and /or cash flows in the future.

Marketable Securities

Marketable Securities	6 Months Ended
	Jun. 30, 2017
Marketable Securities [Abstract]
Marketable Securities	Marketable Securities All marketable securities were classified as held-to-maturity as of the dates presented and the carrying amounts of held-to-maturity securities were as follows: (in thousands) June 30, December 31, June 30, U.S. Government and agency obligations $ 12,909 $ 10,002 $ 20,010 Commercial paper 34,912 54,882 14,949 Total short-term marketable securities 47,821 64,884 34,959 U.S. Government and agency obligations 59,990 62,895 42,653 Total long-term marketable securities 59,990 62,895 42,653 Total marketable securities $ 107,811 $ 127,779 $ 77,612 Scheduled maturities of held-to-maturity investments were as follows: (in thousands) June 30, Due within one year $ 47,821 Due in one to five years 59,990 Total $ 107,811

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurement The following tables summarize significant assets and liabilities measured at fair value in the condensed consolidated balance sheets on a recurring basis for each of the fair value levels (in thousands): Fair Value Measurement at Reporting Date Using June 30, 2017 Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 38,006 $ — $ — $ 38,006 Total assets $ 38,006 $ — $ — $ 38,006 December 31, 2016 Cash equivalents Money market funds $ 10,057 $ — $ — $ 10,057 Total assets $ 10,057 $ — $ — $ 10,057 June 30, 2016 Cash equivalents Money market funds $ 30,082 $ — $ — $ 30,082 Commercial paper 4,994 — — 4,994 Total assets $ 35,076 $ — $ — $ 35,076 A reconciliation of cash equivalents to consolidated cash and cash equivalents is as follows (in thousands) June 30, December 31, June 30, Cash equivalents $ 38,006 $ 10,057 $ 35,076 Cash 140,062 179,269 126,142 Total cash and cash equivalents $ 178,068 $ 189,326 $ 161,218 Interest Rate Swaps As of June 30, 2017 and December 31, 2016 , the fair value of the cash flow hedge that we entered into in January 2016 was $0.7 million and $0.8 million , respectively, and was included in other current assets in the condensed consolidated balance sheets. As of June 30, 2016 , the fair value of the cash flow hedge was $2.1 million and was included in accrued expenses and other current liabilities in the condensed consolidated balance sheets. The unrealized losses, net of taxes, on the effective portion were reported as a component of accumulated other comprehensive income (loss) and were losses of $0.3 million and $0.2 million during the three and six months ended June 30, 2017 , respectively, and $0.5 million and $1.4 million during the three and six months ended June 30, 2016 , respectively. During the three and six months ended June 30, 2017 and 2016 , there was no ineffective portion. The interest expense reclassified from accumulated other comprehensive income (loss) during both the three and six months ended June 30, 2017 and 2016 was immaterial. We estimate less than $0.1 million to be reclassified from accumulated other comprehensive income (loss) into pre-tax earnings within the next twelve months. As of June 30, 2016 , the fair value of the interest rate swap that was terminated in December 2016 was $1.7 million and was included in other current assets on the condensed consolidated balance sheets. During the three and six months ended June 30, 2016 , we recorded net gains of $0.3 million and $1.6 million , respectively, that were included in other income, net on our condensed consolidated statements of operations. Other Assets and Liabilities The carrying values and estimated fair values of our financial instruments that are not required to be recorded at fair value in the condensed consolidated balance sheets were as follows: June 30, 2017 December 31, 2016 June 30, 2016 (in thousands) Fair Value Hierarchy Carrying Value Fair Value Carrying Value Fair Value Carrying Value Fair Value Assets: Held-to-maturity marketable securities Level 1 $ 107,811 $ 107,381 $ 127,779 $ 127,365 $ 77,612 $ 77,678 Liabilities (including current maturities): 2019 Notes 1 Level 3 $ 120,000 $ 123,371 $ 120,000 $ 124,654 $ 160,000 $ 167,210 Credit Agreement term loan 1 Level 3 92,500 92,046 95,000 93,991 97,500 97,409 Credit Agreement - revolving credit facility 1 Level 3 30,000 29,672 30,000 29,452 — — 1 See Note 10 for definitions of 2019 Notes and Credit Agreement. During the three and six months ended June 30, 2017 and 2016 , we did not record any fair value adjustments related to nonfinancial assets and liabilities measured at fair value on a nonrecurring basis.

Receivables, Net

Receivables, Net	6 Months Ended
	Jun. 30, 2017
Receivables [Abstract]
Receivables, Net	Receivables, net (in thousands) June 30, December 31, June 30, Construction contracts: Completed and in progress $ 343,707 $ 288,160 $ 266,685 Retentions 75,891 84,878 95,415 Total construction contracts 419,598 373,038 362,100 Construction material sales 54,165 29,357 54,277 Other 10,892 17,523 15,227 Total gross receivables 484,655 419,918 431,604 Less: allowance for doubtful accounts 410 573 477 Total net receivables $ 484,245 $ 419,345 $ 431,127 Receivables include amounts billed and billable to clients for services provided as of the end of the applicable period and do not bear interest. To the extent costs are not contractually billable or have not been earned, such as claim recovery estimates, the associated revenue is included in costs and estimated earnings in excess of billings or billings i n excess of costs and estimated earnings in the condensed consolidated balance sheets. As of June 30, 2017 , December 31, 2016 and June 30, 2016 , the aggregate claim recovery estimates included in these balances were approximately $10.8 million , $12.3 million and $8.1 million , respectively. Included in other receivables at June 30, 2017 , December 31, 2016 and June 30, 2016 were items such as estimated recovery from back charge claims, notes receivable, fuel tax refunds, receivables from vendors and income tax refunds. No such receivables individually exceeded 10% of total net receivables at any of these dates. As of both June 30, 2017 and December 31, 2016 the estimated recovery from back charge claims included in Other receivables was $0.3 million and was $10.5 million as of June 30, 2016. Certain construction contracts include retainage provisions. The balances billed but not paid by customers pursuant to these provisions generally become due upon completion and acceptance of the project work or products by the owners. As of June 30, 2017 , December 31, 2016 and June 30, 2016 , no retention receivable individually exceeded 10% of total net receivables at any of the presented dates. The majority of the retentions receivable are expected to be collected within one year and there were no retentions receivables determined to be uncollectible.

Construction Joint Ventures

Construction Joint Ventures	6 Months Ended
	Jun. 30, 2017
Construction and Line Item Joint Ventures [Abstract]
Construction and Line Item Joint Ventures	Construction Joint Ventures 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 June 30, 2017 , we determined no change to the primary beneficiary was required for existing construction 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 June 30, 2017 , there was approximately $5.5 billion of construction revenue to be recognized on unconsolidated and line item construction joint venture contracts of which $1.8 billion represented our share and the remaining $3.7 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’ and/or other guarantees. Consolidated Construction Joint Ventures (“CCJVs”) At June 30, 2017 , we were engaged in four active CCJV projects with total contract values ranging from $49.1 million to $267.4 million . Our share of revenue remaining to be recognized on these CCJVs ranged from $11.6 million to $147.3 million . Our proportionate share of the equity in these joint ventures was between 50.0% and 65.0% . During the three and six months ended June 30, 2017 , total revenue from CCJVs was $49.5 million and $85.0 million , respectively. During the three and six months ended June 30, 2016 , total revenue from CCJVs was $33.0 million and $55.1 million , respectively. During the six months ended June 30, 2017 and 2016, CCJVs provided $19.2 million and $12.8 million of operating cash flows, respectively. Unconsolidated Construction Joint Ventures As of June 30, 2017 , we were engaged in eleven active unconsolidated joint venture projects with total contract values ranging from $79.4 million to $3.7 billion , for which there were three with contract values greater than $1.0 billion. Our proportionate share of the equity in these unconsolidated construction joint ventures ranged from 20.0% to 50.0% . As of June 30, 2017 , our share of the revenue remaining to be recognized on these unconsolidated construction joint ventures ranged from $1.3 million to $436.6 million . As of June 30, 2017 , December 31, 2016 and June 30, 2016 , one of our unconsolidated construction joint ventures was located in Canada and, therefore, the associated disclosures throughout this footnote include amounts that were translated from Canadian dollars to U.S. dollars using the spot rate in effect as of the reporting date for balance sheet items, and the average rate in effect during the reporting period for the results of operations. The following is summary financial information related to unconsolidated construction joint ventures: (in thousands) June 30, December 31, June 30, Assets: Cash, cash equivalents and marketable securities $ 388,542 $ 537,991 $ 435,098 Other current assets 1 632,166 644,809 679,920 Noncurrent assets 230,633 207,240 216,722 Less partners’ interest 828,237 935,615 894,017 Granite’s interest 1,2 423,104 454,425 437,723 Liabilities: Current liabilities 668,630 696,215 634,796 Less partners’ interest and adjustments 3 460,052 472,324 434,371 Granite’s interest 208,578 223,891 200,425 Equity in construction joint ventures 4 $ 214,526 $ 230,534 $ 237,298 1 Included in this balance and in accrued and other current liabilities on our condensed consolidated balance sheets as of June 30, 2017 , December 31, 2016 and June 30, 2016 was $88.9 million , $83.1 million and $76.8 million , respectively, related to performance guarantees. 2 Included in this balance as of June 30, 2017 , December 31, 2016 and June 30, 2016 was $81.7 million , $65.4 million and $57.8 million , respectively, related to Granite’s share of estimated cost recovery of customer affirmative claims. In addition, this balance included $9.8 million , $5.6 million and $4.3 million related to Granite’s share of estimated recovery of back charge claims as of June 30, 2017 , December 31, 2016 and June 30, 2016 , respectively. 3 Partners’ interest and adjustments includes amounts to reconcile total liabilities as reported by our partners to Granite’s interest adjusted to reflect our accounting policies. 4 As of June 30, 2017 , December 31, 2016 and June 30, 2016 this balance included $15.9 million , $16.6 million and $8.2 million , respectively, of deficit in construction joint ventures that is included in accrued expenses and other current liabilities on the condensed consolidated balance sheets. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2017 2016 2017 2016 Revenue: Total 1 $ 515,983 $ 475,879 $ 967,304 $ 970,046 Less partners’ interest and adjustments 1,2 376,332 346,863 700,162 694,771 Granite’s interest 139,651 129,016 267,142 275,275 Cost of revenue: Total 498,932 479,113 941,922 940,610 Less partners’ interest and adjustments 1,2 349,557 347,661 666,552 671,702 Granite’s interest 149,375 131,452 275,370 268,908 Granite’s interest in gross (loss) profit $ (9,724 ) $ (2,436 ) $ (8,228 ) $ 6,367 1 While Granite’s interest in revenue, cost of revenue and gross profit were correctly stated, Total revenue and revenue for partners’ interest and adjustments for the three months ended June 30, 2016 were misstated in our Quarterly Report for the quarter ended June 30, 2016. Total revenue and revenue for partner’s interest and adjustments as reported was (in thousands): $682,002 and $552,986 , respectively, for the three months ended June 30, 2016. Total revenue and revenue for partner’s interest and adjustments should have been (in thousands): $475,879 and $346,863 , respectively, for the three months ended June 30, 2016 and are reflected in the table. The misstatements did not have any impact on the consolidated financial statements in any period. We assessed the materiality of the errors in accordance with the SEC’s Staff Accounting Bulletin 99 and concluded that the errors were not material to either of these previously issued financial statements. Accordingly, we will revise our previously issued financial statements prospectively to correct these errors. 2 Partners’ interest and adjustments represents 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. During the three and six months ended June 30, 2017 unconsolidated construction joint venture net income was $17.6 million and $26.2 million , respectively, of which our share was net loss of $9.7 million and $8.2 million , respectively. The differences between our share of the joint venture net losses when compared to the joint venture net income primarily resulted from differences between our estimated total revenue and cost of revenue when compared to our partners’. During the three months ended June 30, 2016 , unconsolidated construction joint venture net loss was $4.4 million of which our share was $2.9 million and during the six months ended June 30, 2016 , unconsolidated construction joint venture net income was $29.3 million of which our share was $5.6 million . 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. Line Item Joint Ventures As of June 30, 2017 , we had two active line item joint venture construction projects with total contract values of $66.2 million and $74.7 million of which our portion was $44.7 million and $30.7 million , respectively. As of June 30, 2017 , our share of revenue remaining to be recognized on these line item joint ventures was $7.3 million and $0.8 million , respectively. During the three and six months ended June 30, 2017 our portion of revenue from line item joint ventures was $6.8 million and $14.7 million , respectively. During the three and six months ended June 30, 2016, our portion of revenue from line item joint ventures was $9.6 million and $14.0 million , respectively.

Investments in Affiliates

Investments in Affiliates	6 Months Ended
	Jun. 30, 2017
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Investments in Affiliates	Investments in Affiliates Our investments in affiliates balance is related to our investments in unconsolidated non-construction entities that we account for using the equity method of accounting, including investments in real estate entities and a non-real estate entity. Our investments in affiliates balance consists of the following: (in thousands) June 30, December 31, June 30, Equity method investments in real estate affiliates $ 27,329 $ 25,911 $ 25,018 Equity method investment in other affiliate 9,841 9,757 9,499 Total investments in affiliates $ 37,170 $ 35,668 $ 34,517 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, December 31, June 30, Total assets $ 156,969 $ 155,506 $ 176,275 Net assets 96,638 99,804 102,650 Granite’s share of net assets 37,170 35,668 34,517 The equity method investments in real estate affiliates included $22.2 million , $20.8 million and $19.4 million in residential real estate in Texas as of June 30, 2017 , December 31, 2016 and June 30, 2016 , respectively. The remaining balances were in commercial real estate in Texas. Of the $157.0 million in total assets as of June 30, 2017 , real estate entities had total assets ranging from $1.6 million to $70.7 million and the non-real estate entity had total assets of $21.6 million .

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, net Balances of major classes of assets and allowances for depreciation and depletion are included in property and equipment, net in the condensed consolidated balance sheets and were as follows: (in thousands) June 30, December 31, June 30, Equipment and vehicles $ 774,903 $ 756,602 $ 769,307 Quarry property 176,041 174,839 179,773 Land and land improvements 111,766 110,999 111,425 Buildings and leasehold improvements 84,113 82,762 82,733 Office furniture and equipment 58,377 56,381 63,721 Property and equipment 1,205,200 1,181,583 1,206,959 Less: accumulated depreciation and depletion 791,121 774,933 797,099 Property and equipment, net $ 414,079 $ 406,650 $ 409,860

Covenants and Events of Default

Covenants and Events of Default	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Long-Term Debt and Credit Arrangements	Debt Covenants and Events of Default Our debt and credit agreements require us to comply with various affirmative, restrictive and financial covenants, including the financial covenants described below. Our failure to comply with any of these covenants, or to pay principal, interest or other amounts when due thereunder, would constitute an event of default under the applicable agreements. Under certain circumstances, the occurrence of an event of default under one of our debt or credit agreements (or the acceleration of the maturity of the indebtedness under one of our agreements) may constitute an event of default under one or more of our other debt or credit agreements. Default under our debt and credit agreements could result in (i) us no longer being entitled to borrow under the agreements; (ii) termination of the agreements; (iii) the requirement that any letters of credit under the agreements be cash collateralized; (iv) acceleration of the maturity of outstanding indebtedness under the agreements; and/or (v) foreclosure on any collateral securing the obligations under the agreements. As of June 30, 2017 , we had a $292.5 million credit facility, of which $200.0 million was a revolving credit facility and $92.5 million was a term loan that matures on October 28, 2020 (the “Maturity Date”) and has a sublimit for letters of credit of $100.0 million (the “Credit Agreement”). As of June 30, 2017 , December 31, 2016 and June 30, 2016, $5.0 million of the term loan balance was included in current maturities of long-term debt and the remaining $87.5 million , $90.0 million and $92.5 million , respectively, was included in long-term debt on the condensed consolidated balance sheets. As of June 30, 2017 and December 31, 2016, $30.0 million had been drawn from the Credit Agreement to service the 2016 installment of the 2019 Notes (defined below). Senior notes payable in the amount of $120.0 million as of both June 30, 2017 and December 31, 2016 and in the amount of $160.0 million as of June 30, 2016 were due to a group of institutional holders and had an interest rate of 6.11% per annum (“2019 Notes”). As of June 30, 2017 , three equal annual installments from 2017 through 2019 are remaining. Of the outstanding balances, $110.0 million as of both June 30, 2017 and December 31, 2016 and $150.0 million as of June 30, 2016 were included in long-term debt on the condensed consolidated balance sheets. Of the $40.0 million due for the 2017 installment of the 2019 Notes, $30.0 million is included in long-term debt on the condensed consolidated balance sheets as of June 30, 2017 and December 31, 2016 as we have the ability and intent to pay these installments using borrowings under the Credit Agreement or by obtaining other sources of financing. The remaining $10.0 million of the 2017 installment was included in current maturities of long-term debt as of June 30, 2017 and December 31, 2016. Of the $40.0 million due for the 2016 installment of the 2019 Notes, $30.0 million was included in long-term debt on the condensed consolidated balance sheets as of June 30, 2016 as we had the ability and intent to pay these installments using borrowings under the Credit Agreement. The remaining $10.0 million of the 2016 installment was included in current maturities of long-term debt as of June 30, 2016. As of June 30, 2017 , we were in compliance with all covenants contained in the Credit Agreement and related to the note purchase agreement governing our 2019 Notes. We are not aware of any non-compliance by any of our unconsolidated real estate entities with the covenants contained in their debt agreements.

Weighted Average Shares Outstan

Weighted Average Shares Outstanding and Net Incomer (Loss) Per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Weighted Average Shares Outstanding and Net Income (Loss) Per Share The following table presents a reconciliation of the weighted average shares outstanding used in calculating basic and diluted net income (loss) per share as well as the calculation of basic and diluted net income (loss) per share: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share amounts) 2017 2016 2017 2016 Numerator (basic and diluted): Net income (loss) allocated to common shareholders for basic calculation $ 14,133 $ 14,199 $ (9,657 ) $ 3,758 Denominator: Weighted average common shares outstanding, basic 39,827 39,584 39,738 39,509 Dilutive effect of common stock options and restricted stock units 1 566 718 — 631 Weighted average common shares outstanding, diluted 40,393 40,302 39,738 40,140 Net income (loss) per share, basic $ 0.35 $ 0.36 $ (0.24 ) $ 0.10 Net income (loss) per share, diluted $ 0.35 $ 0.35 $ (0.24 ) $ 0.09 1 Due to the net loss for the six months ended June 30, 2017, restricted stock units of approximately 618,000 have been excluded from the number of shares used in calculating diluted net loss per share, as their inclusion would be antidilutive.

Equity

Equity	6 Months Ended
	Jun. 30, 2017
Stockholders' Equity Note [Abstract]
Equity	Equity The following tables summarize our equity activity for the periods presented (in thousands): Granite Construction Incorporated Non-controlling Interests Total Equity Balance at December 31, 2016 $ 885,988 $ 36,603 $ 922,591 Purchases of common stock 1 (6,568 ) — (6,568 ) Other transactions with shareholders and employees 2 11,987 — 11,987 Net (loss) income (9,657 ) 2,078 (7,579 ) Dividends on common stock (10,354 ) — (10,354 ) Balance at June 30, 2017 $ 871,396 $ 38,681 $ 910,077 Balance at December 31, 2015 $ 839,237 $ 30,884 $ 870,121 Purchases of common stock 3 (4,845 ) — (4,845 ) Other transactions with shareholders and employees 2 8,623 — 8,623 Transactions with non-controlling interests, net — (3,355 ) (3,355 ) Net income 3,758 5,005 8,763 Dividends on common stock (10,292 ) — (10,292 ) Balance at June 30, 2016 $ 836,481 $ 32,534 $ 869,015 1 Represents 133,000 shares purchased in connection with employee tax withholding for restricted stock units vested under our 2012 Equity Incentive Plan. 2 Amounts are comprised primarily of amortized restricted stock units. 3 Represents 109,000 shares purchased in connection with employee tax withholding for restricted stock units vested under our 2012 Equity Incentive Plan.

Legal Proceedings

Legal Proceedings	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	Legal Proceedings In the ordinary course of business, we or our joint ventures and affiliates are involved in various legal proceedings alleging, among other things, public liability issues, breach of contract or tortious conduct in connection with the performance of services and/or materials provided. We are also subject to government inquiries and reporting requirements seeking information concerning our compliance with government construction contracting requirements and various laws and regulations. The outcomes of such proceedings and government inquiries cannot be predicted with certainty. Some of the matters in which we or our joint ventures and affiliates are involved may include compensatory, punitive, or other claims or sanctions that, if granted, could require us to pay damages or make other expenditures in amounts that are not probable to be incurred or cannot currently be reasonably estimated. In addition, in some circumstances our government contracts could be terminated or suspended, we could be debarred or incur other administrative penalties or sanctions, or payment of our costs could be disallowed. While any of our pending legal proceedings may be subject to early resolution as a result of our ongoing efforts to settle, whether or when any legal proceeding will be resolved through settlement is neither predictable nor guaranteed. Accordingly, it is possible that future developments in such proceedings and inquiries could require us to (i) adjust existing accruals, or (ii) record new accruals that we did not originally believe to be probable or that could not be reasonably estimated. Such changes could be material to our financial condition, results of operations and/or cash flows in any particular reporting period. In addition to matters that are considered probable for which the loss can be reasonably estimated, we also disclose certain matters where the loss is considered reasonably possible and is reasonably estimable. Liabilities relating to legal proceedings and government inquiries, to the extent that we have concluded such liabilities are probable and the amounts of such liabilities are reasonably estimable, are recorded in our condensed consolidated balance sheets. The aggregate liabilities recorded as of June 30, 2017 , December 31, 2016 and June 30, 2016 related to these matters were approximately $1.0 million , $4.3 million and $0.7 million , respectively, and were primarily included in accrued expenses and other current liabilities. The aggregate range of reasonably possible loss amounts in excess of accrued losses recorded for probable loss contingencies, including those related to liquidated damages, could have a material impact on our consolidated financial statements if they become probable and the reasonably estimable amount is determined. .

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information Summarized segment information is as follows (in thousands): Three Months Ended June 30, Construction Large Project Construction Construction Materials Total 2017 Total revenue from reportable segments $ 429,269 $ 254,463 $ 123,242 $ 806,974 Elimination of intersegment revenue — — (44,061 ) (44,061 ) Revenue from external customers 429,269 254,463 79,181 762,913 Gross profit 62,504 495 11,571 74,570 Depreciation, depletion and amortization 5,441 3,081 5,417 13,939 2016 Total revenue from reportable segments $ 331,346 $ 197,322 $ 115,342 $ 644,010 Elimination of intersegment revenue — — (39,431 ) (39,431 ) Revenue from external customers 331,346 197,322 75,911 604,579 Gross profit 49,056 13,654 10,491 73,201 Depreciation, depletion and amortization 5,345 1,519 5,859 12,723 Six Months Ended June 30, Construction Large Project Construction Construction Materials Total 2017 Total revenue from reportable segments $ 656,118 $ 461,496 $ 171,864 $ 1,289,478 Elimination of intersegment revenue — — (58,165 ) (58,165 ) Revenue from external customers 656,118 461,496 113,699 1,231,313 Gross profit 90,453 3,050 6,193 99,696 Depreciation, depletion and amortization 10,435 4,967 10,615 26,017 Segment assets 142,456 312,891 295,068 750,415 2016 Total revenue from reportable segments $ 540,833 $ 392,771 $ 164,273 $ 1,097,877 Elimination of intersegment revenue — — (53,846 ) (53,846 ) Revenue from external customers 540,833 392,771 110,427 1,044,031 Gross profit 75,989 27,159 9,298 112,446 Depreciation, depletion and amortization 9,870 2,988 11,196 24,054 Segment assets 151,877 306,440 297,910 756,227 A reconciliation of segment gross profit to consolidated income (loss) before provision for (benefit from) income taxes is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2017 2016 2017 2016 Total gross profit from reportable segments $ 74,570 $ 73,201 $ 99,696 $ 112,446 Selling, general and administrative expenses 51,388 48,705 113,225 104,838 Gain on sales of property and equipment (807 ) (1,366 ) (1,077 ) (1,966 ) Total other income (371 ) (1,511 ) (465 ) (2,112 ) Income (loss) before provision for (benefit from) income taxes $ 24,360 $ 27,373 $ (11,987 ) $ 11,686

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revision in Estimates	Our profit recognition related to construction contracts is based on estimates of costs to complete each project. These estimates can vary significantly in the normal course of business as projects progress, circumstances develop and evolve, and uncertainties are resolved. When we experience significant changes in our estimates of costs to complete, we undergo a process that includes reviewing the nature of the changes to ensure that there are no material amounts that should have been recorded in a prior period rather than as revisions in estimates for the current period. We use the cumulative catch-up method applicable to construction contract accounting to account for revisions in estimates. Under this method, revisions in estimates are accounted for in their entirety in the period of change. There can be no assurance that we will not experience further changes in circumstances or otherwise be required to revise our cost estimates in the future.
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.

Revisions in Estimates (Tables)

Revisions in Estimates (Tables)	6 Months Ended
	Jun. 30, 2017
Construction [Member]
Change in Accounting Estimate [Line Items]
Schedule of Change in Accounting Estimate	The projects are summarized as follows: Decreases Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2017 2016 2017 2016 Number of projects with downward estimate changes 1 1 1 2 Range of reduction in gross profit from each project, net $ 1.1 $ 1.0 $ 1.8 $ 1.2 - 1.3 Decrease on project profitability $ 1.1 $ 1.0 $ 1.8 $ 2.5
Large Project Construction [Member]
Change in Accounting Estimate [Line Items]
Schedule of Change in Accounting Estimate	Decreases Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2017 2016 2017 2016 Number of projects with downward estimate changes 5 4 7 4 Range of reduction in gross profit from each project, net $ 1.1 - 8.1 $ 2.2 - 5.9 $ 1.0 - 10.8 $ 3.4 - 6.4 Decrease on project profitability $ 23.8 $ 14.6 $ 37.8 $ 20.1 The projects are summarized as follows: Increases Three Months Ended June 30, Six Months Ended June 30, (dollars in millions) 2017 2016 2017 2016 Number of projects with upward estimate changes — 2 — 4 Range of increase in gross profit from each project, net $ — $ 2.9 - 6.9 $ — $ 1.2 - 6.9 Increase on project profitability $ — $ 9.8 $ — $ 12.3

Marketable Securities (Tables)

Marketable Securities (Tables)	6 Months Ended
	Jun. 30, 2017
Marketable Securities [Abstract]
Schedule of Marketable Securities	All marketable securities were classified as held-to-maturity as of the dates presented and the carrying amounts of held-to-maturity securities were as follows: (in thousands) June 30, December 31, June 30, U.S. Government and agency obligations $ 12,909 $ 10,002 $ 20,010 Commercial paper 34,912 54,882 14,949 Total short-term marketable securities 47,821 64,884 34,959 U.S. Government and agency obligations 59,990 62,895 42,653 Total long-term marketable securities 59,990 62,895 42,653 Total marketable securities $ 107,811 $ 127,779 $ 77,612
Held-to-maturity Securities	Scheduled maturities of held-to-maturity investments were as follows: (in thousands) June 30, Due within one year $ 47,821 Due in one to five years 59,990 Total $ 107,811

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The following tables summarize significant assets and liabilities measured at fair value in the condensed consolidated balance sheets on a recurring basis for each of the fair value levels (in thousands): Fair Value Measurement at Reporting Date Using June 30, 2017 Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 38,006 $ — $ — $ 38,006 Total assets $ 38,006 $ — $ — $ 38,006 December 31, 2016 Cash equivalents Money market funds $ 10,057 $ — $ — $ 10,057 Total assets $ 10,057 $ — $ — $ 10,057 June 30, 2016 Cash equivalents Money market funds $ 30,082 $ — $ — $ 30,082 Commercial paper 4,994 — — 4,994 Total assets $ 35,076 $ — $ — $ 35,076
Schedule of Cash and Cash Equivalents [Table Text Block]	A reconciliation of cash equivalents to consolidated cash and cash equivalents is as follows (in thousands) June 30, December 31, June 30, Cash equivalents $ 38,006 $ 10,057 $ 35,076 Cash 140,062 179,269 126,142 Total cash and cash equivalents $ 178,068 $ 189,326 $ 161,218
Fair Value Measurements, Nonrecurring [Table Text Block]	The carrying values and estimated fair values of our financial instruments that are not required to be recorded at fair value in the condensed consolidated balance sheets were as follows: June 30, 2017 December 31, 2016 June 30, 2016 (in thousands) Fair Value Hierarchy Carrying Value Fair Value Carrying Value Fair Value Carrying Value Fair Value Assets: Held-to-maturity marketable securities Level 1 $ 107,811 $ 107,381 $ 127,779 $ 127,365 $ 77,612 $ 77,678 Liabilities (including current maturities): 2019 Notes 1 Level 3 $ 120,000 $ 123,371 $ 120,000 $ 124,654 $ 160,000 $ 167,210 Credit Agreement term loan 1 Level 3 92,500 92,046 95,000 93,991 97,500 97,409 Credit Agreement - revolving credit facility 1 Level 3 30,000 29,672 30,000 29,452 — —

Receivables, Net (Tables)

Receivables, Net (Tables)	6 Months Ended
	Jun. 30, 2017
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	(in thousands) June 30, December 31, June 30, Construction contracts: Completed and in progress $ 343,707 $ 288,160 $ 266,685 Retentions 75,891 84,878 95,415 Total construction contracts 419,598 373,038 362,100 Construction material sales 54,165 29,357 54,277 Other 10,892 17,523 15,227 Total gross receivables 484,655 419,918 431,604 Less: allowance for doubtful accounts 410 573 477 Total net receivables $ 484,245 $ 419,345 $ 431,127

Construction Joint Ventures (Ta

Construction Joint Ventures (Tables)	6 Months Ended
	Jun. 30, 2017
Construction and Line Item Joint Ventures [Abstract]
Schedule of Unconsolidated Joint Ventures Assets and Liabilities [Table Text Block]	perations. The following is summary financial information related to unconsolidated construction joint ventures: (in thousands) June 30, December 31, June 30, Assets: Cash, cash equivalents and marketable securities $ 388,542 $ 537,991 $ 435,098 Other current assets 1 632,166 644,809 679,920 Noncurrent assets 230,633 207,240 216,722 Less partners’ interest 828,237 935,615 894,017 Granite’s interest 1,2 423,104 454,425 437,723 Liabilities: Current liabilities 668,630 696,215 634,796 Less partners’ interest and adjustments 3 460,052 472,324 434,371 Granite’s interest 208,578 223,891 200,425 Equity in construction joint ventures 4 $ 214,526 $ 230,534 $ 237,298 1 Included in this balance and in accrued and other current liabilities on our condensed consolidated balance sheets as of June 30, 2017 , December 31, 2016 and June 30, 2016 was $88.9 million , $83.1 million and $76.8 million , respectively, related to performance guarantees. 2 Included in this balance as of June 30, 2017 , December 31, 2016 and June 30, 2016 was $81.7 million , $65.4 million and $57.8 million , respectively, related to Granite’s share of estimated cost recovery of customer affirmative claims. In addition, this balance included $9.8 million , $5.6 million and $4.3 million related to Granite’s share of estimated recovery of back charge claims as of June 30, 2017 , December 31, 2016 and June 30, 2016 , respectively. 3 Partners’ interest and adjustments includes amounts to reconcile total liabilities as reported by our partners to Granite’s interest adjusted to reflect our accounting policies. 4 As of June 30, 2017 , December 31, 2016 and June 30, 2016 this balance included $15.9 million , $16.6 million and $8.2 million , respectively, of deficit in construction joint ventures that is included in accrued expenses and other current liabilities on the condensed consolidated bal
Schedule of Unconsolidated Joint Ventures Revenue and Costs [Table Text Block]	nce sheets. Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2017 2016 2017 2016 Revenue: Total 1 $ 515,983 $ 475,879 $ 967,304 $ 970,046 Less partners’ interest and adjustments 1,2 376,332 346,863 700,162 694,771 Granite’s interest 139,651 129,016 267,142 275,275 Cost of revenue: Total 498,932 479,113 941,922 940,610 Less partners’ interest and adjustments 1,2 349,557 347,661 666,552 671,702 Granite’s interest 149,375 131,452 275,370 268,908 Granite’s interest in gross (loss) profit $ (9,724 ) $ (2,436 ) $ (8,228 ) $ 6,367 1 While Granite’s interest in revenue, cost of revenue and gross profit were correctly stated, Total revenue and revenue for partners’ interest and adjustments for the three months ended June 30, 2016 were misstated in our Quarterly Report for the quarter ended June 30, 2016. Total revenue and revenue for partner’s interest and adjustments as reported was (in thousands): $682,002 and $552,986 , respectively, for the three months ended June 30, 2016. Total revenue and revenue for partner’s interest and adjustments should have been (in thousands): $475,879 and $346,863 , respectively, for the three months ended June 30, 2016 and are reflected in the table. The misstatements did not have any impact on the consolidated financial statements in any period. We assessed the materiality of the errors in accordance with the SEC’s Staff Accounting Bulletin 99 and concluded that the errors were not material to either of these previously issued financial statements. Accordingly, we will revise our previously issued financial statements prospectively to correct these errors. 2 Partners’ interest and adjustments represents 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

Investments in Affiliates (Tabl

Investments in Affiliates (Tables)	6 Months Ended
	Jun. 30, 2017
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Investments in and Advances to Affiliates [Table Text Block]	Our investments in affiliates balance consists of the following: (in thousands) June 30, December 31, June 30, Equity method investments in real estate affiliates $ 27,329 $ 25,911 $ 25,018 Equity method investment in other affiliate 9,841 9,757 9,499 Total investments in affiliates $ 37,170 $ 35,668 $ 34,517
Equity Method Investment Summarized Balance Sheet Location [Table Text Block]	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, December 31, June 30, Total assets $ 156,969 $ 155,506 $ 176,275 Net assets 96,638 99,804 102,650 Granite’s share of net assets 37,170 35,668 34,517

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	Balances of major classes of assets and allowances for depreciation and depletion are included in property and equipment, net in the condensed consolidated balance sheets and were as follows: (in thousands) June 30, December 31, June 30, Equipment and vehicles $ 774,903 $ 756,602 $ 769,307 Quarry property 176,041 174,839 179,773 Land and land improvements 111,766 110,999 111,425 Buildings and leasehold improvements 84,113 82,762 82,733 Office furniture and equipment 58,377 56,381 63,721 Property and equipment 1,205,200 1,181,583 1,206,959 Less: accumulated depreciation and depletion 791,121 774,933 797,099 Property and equipment, net $ 414,079 $ 406,650 $ 409,860

Weighted Average Shares Outst30

Weighted Average Shares Outstanding and Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table presents a reconciliation of the weighted average shares outstanding used in calculating basic and diluted net income (loss) per share as well as the calculation of basic and diluted net income (loss) per share: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share amounts) 2017 2016 2017 2016 Numerator (basic and diluted): Net income (loss) allocated to common shareholders for basic calculation $ 14,133 $ 14,199 $ (9,657 ) $ 3,758 Denominator: Weighted average common shares outstanding, basic 39,827 39,584 39,738 39,509 Dilutive effect of common stock options and restricted stock units 1 566 718 — 631 Weighted average common shares outstanding, diluted 40,393 40,302 39,738 40,140 Net income (loss) per share, basic $ 0.35 $ 0.36 $ (0.24 ) $ 0.10 Net income (loss) per share, diluted $ 0.35 $ 0.35 $ (0.24 ) $ 0.09 1 Due to the net loss for the six months ended June 30, 2017, restricted stock units of approximately 618,000 have been excluded from the number of shares used in calculating diluted net loss per share, as their inclusion would be antidilutive.

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2017
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity	The following tables summarize our equity activity for the periods presented (in thousands): Granite Construction Incorporated Non-controlling Interests Total Equity Balance at December 31, 2016 $ 885,988 $ 36,603 $ 922,591 Purchases of common stock 1 (6,568 ) — (6,568 ) Other transactions with shareholders and employees 2 11,987 — 11,987 Net (loss) income (9,657 ) 2,078 (7,579 ) Dividends on common stock (10,354 ) — (10,354 ) Balance at June 30, 2017 $ 871,396 $ 38,681 $ 910,077 Balance at December 31, 2015 $ 839,237 $ 30,884 $ 870,121 Purchases of common stock 3 (4,845 ) — (4,845 ) Other transactions with shareholders and employees 2 8,623 — 8,623 Transactions with non-controlling interests, net — (3,355 ) (3,355 ) Net income 3,758 5,005 8,763 Dividends on common stock (10,292 ) — (10,292 ) Balance at June 30, 2016 $ 836,481 $ 32,534 $ 869,015 1 Represents 133,000 shares purchased in connection with employee tax withholding for restricted stock units vested under our 2012 Equity Incentive Plan. 2 Amounts are comprised primarily of amortized restricted stock units. 3 Represents 109,000 shares purchased in connection with employee tax withholding for restricted stock units vested under our 2012 Equity Incentive Plan.

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting Information [Line Items]
Schedule of Segment Reporting Information	Three Months Ended June 30, Construction Large Project Construction Construction Materials Total 2017 Total revenue from reportable segments $ 429,269 $ 254,463 $ 123,242 $ 806,974 Elimination of intersegment revenue — — (44,061 ) (44,061 ) Revenue from external customers 429,269 254,463 79,181 762,913 Gross profit 62,504 495 11,571 74,570 Depreciation, depletion and amortization 5,441 3,081 5,417 13,939 2016 Total revenue from reportable segments $ 331,346 $ 197,322 $ 115,342 $ 644,010 Elimination of intersegment revenue — — (39,431 ) (39,431 ) Revenue from external customers 331,346 197,322 75,911 604,579 Gross profit 49,056 13,654 10,491 73,201 Depreciation, depletion and amortization 5,345 1,519 5,859 12,723 Six Months Ended June 30, Construction Large Project Construction Construction Materials Total 2017 Total revenue from reportable segments $ 656,118 $ 461,496 $ 171,864 $ 1,289,478 Elimination of intersegment revenue — — (58,165 ) (58,165 ) Revenue from external customers 656,118 461,496 113,699 1,231,313 Gross profit 90,453 3,050 6,193 99,696 Depreciation, depletion and amortization 10,435 4,967 10,615 26,017 Segment assets 142,456 312,891 295,068 750,415 2016 Total revenue from reportable segments $ 540,833 $ 392,771 $ 164,273 $ 1,097,877 Elimination of intersegment revenue — — (53,846 ) (53,846 ) Revenue from external customers 540,833 392,771 110,427 1,044,031 Gross profit 75,989 27,159 9,298 112,446 Depreciation, depletion and amortization 9,870 2,988 11,196 24,054 Segment assets 151,877 306,440 297,910 756,227
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	A reconciliation of segment gross profit to consolidated income (loss) before provision for (benefit from) income taxes is as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2017 2016 2017 2016 Total gross profit from reportable segments $ 74,570 $ 73,201 $ 99,696 $ 112,446 Selling, general and administrative expenses 51,388 48,705 113,225 104,838 Gain on sales of property and equipment (807 ) (1,366 ) (1,077 ) (1,966 ) Total other income (371 ) (1,511 ) (465 ) (2,112 ) Income (loss) before provision for (benefit from) income taxes $ 24,360 $ 27,373 $ (11,987 ) $ 11,686

Revisions in Estimates (Details

Revisions in Estimates (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)project	Jun. 30, 2016USD ($)project	Jun. 30, 2017USD ($)project	Jun. 30, 2016USD ($)project
Change in Accounting Estimates
Impact From Affirmative Claim Recovery Estimate	$ 12.2	$ 17.4	$ 14	$ 20.2
Impact From Estimated Recovery of Backcharge Claims	2.7	7.6	3	7.6
Construction Segment
Change in Accounting Estimates
Change in Accounting Estimate Amount Considered Significant to Individual Project Gross Profit	1	1	1	1
Net Downward Estimate Change [Member] | Construction Segment
Change in Accounting Estimates
Increase (Decrease) on Project Profitability	(1.1)	(1)	(1.8)	(2.5)
Net Downward Estimate Change [Member] | Large Project Construction [Member]
Change in Accounting Estimates
Increase (Decrease) on Project Profitability	(23.8)	(4.8)	(37.8)	(7.8)
Upward Estimate Changes | Construction Segment | Minimum
Change in Accounting Estimates
Range Of Effect On Gross Profit	0	0	0	0
Upward Estimate Changes | Construction Segment | Maximum
Change in Accounting Estimates
Range Of Effect On Gross Profit	$ 0	$ 0	$ 0	$ 0
Upward Estimate Changes | Large Project Construction [Member]
Change in Accounting Estimates
Number of Projects with Estimate Changes | project	0	2	0	4
Increase (Decrease) on Project Profitability	$ 0	$ 9.8	$ 0	$ 12.3
Upward Estimate Changes | Large Project Construction [Member] | Minimum
Change in Accounting Estimates
Range Of Effect On Gross Profit	0	2.9	0	1.2
Upward Estimate Changes | Large Project Construction [Member] | Maximum
Change in Accounting Estimates
Range Of Effect On Gross Profit	0	6.9	0	6.9
Contracts Accounted for under Percentage of Completion [Member] | Large Project Construction [Member] | Noncontrolling Interest [Member]
Change in Accounting Estimates
Increase (Decrease) on Project Profitability	$ (0.4)	$ (3.6)	$ (2)	$ (3.6)
Downward Estimate Change [Member] | Construction Segment
Change in Accounting Estimates
Number of Projects with Estimate Changes | project	1	1	1	2
Increase (Decrease) on Project Profitability	$ (1.1)		$ (1.8)
Downward Estimate Change [Member] | Construction Segment | Minimum
Change in Accounting Estimates
Range Of Effect On Gross Profit	(1.1)	$ (1)	(1.8)	$ (1.2)
Downward Estimate Change [Member] | Construction Segment | Maximum
Change in Accounting Estimates
Range Of Effect On Gross Profit	$ (1.1)	$ (1)	$ (1.8)	$ (1.3)
Downward Estimate Change [Member] | Large Project Construction [Member]
Change in Accounting Estimates
Number of Projects with Estimate Changes | project	5	4	7	4
Increase (Decrease) on Project Profitability	$ (23.8)	$ (14.6)	$ (37.8)	$ (20.1)
Downward Estimate Change [Member] | Large Project Construction [Member] | Minimum
Change in Accounting Estimates
Range Of Effect On Gross Profit	(1.1)	(2.2)	(1)	(3.4)
Downward Estimate Change [Member] | Large Project Construction [Member] | Maximum
Change in Accounting Estimates
Range Of Effect On Gross Profit	(8.1)	(5.9)	(10.8)	(6.4)
Estimated costs recorded in prior period
Change in Accounting Estimates
Impact From Affirmative Claim Recovery Estimate	0.8	2.1	(0.1)	4.9
Impact From Estimated Recovery of Backcharge Claims	1.3	5.4	1.6	5.4
Revisions to estimated total contract costs
Change in Accounting Estimates
Impact From Affirmative Claim Recovery Estimate	11.4	15.3	14.1	15.3
Impact From Estimated Recovery of Backcharge Claims	$ 1.4	$ 2.2	$ 1.4	2.2
Sales Revenue, Net
Change in Accounting Estimates
Misstatement in prior period filing				4.9
Gross Profit
Change in Accounting Estimates
Misstatement in prior period filing				$ 1.6

Marketable Securities - Carryin

Marketable Securities - Carrying Amounts of Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Schedule of Marketable Securities [Line Items]
Short-term marketable securities	$ 47,821	$ 64,884	$ 34,959
Long-term marketable securities	59,990	62,895	42,653
Held-to-Maturity [Member]
Schedule of Marketable Securities [Line Items]
Short-term marketable securities	47,821	64,884	34,959
Long-term marketable securities	59,990	62,895	42,653
Total marketable securities	107,811	127,779	77,612
U.S. Government and agency obligations [Member] | Held-to-Maturity [Member]
Schedule of Marketable Securities [Line Items]
Short-term marketable securities	12,909	10,002	20,010
Long-term marketable securities	59,990	62,895	42,653
Commercial paper | Held-to-Maturity [Member]
Schedule of Marketable Securities [Line Items]
Short-term marketable securities	$ 34,912	$ 54,882	$ 14,949

Marketable Securities - Maturit

Marketable Securities - Maturities of Held to Maturity Investments (Details) $ in Thousands	Jun. 30, 2017USD ($)
Marketable Securities [Abstract]
Held-to-maturity investments, maturities due within one year	$ 47,821
Held-to-maturity investments, maturities due in one to five years	59,990
Held-to-maturity investments, total maturities due	$ 107,811

Fair Value Measurement Cash and

Fair Value Measurement Cash and Cash Equivalents (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Assets, Fair Value Disclosure
Total Assets, Fair Value	$ 38,006	$ 10,057	$ 35,076
Level 1
Assets, Fair Value Disclosure
Total Assets, Fair Value	38,006	10,057	35,076
Level 2
Assets, Fair Value Disclosure
Total Assets, Fair Value	0	0	0
Level 3
Assets, Fair Value Disclosure
Total Assets, Fair Value	0	0	0
Money Market Funds
Assets, Fair Value Disclosure
Cash equivalents	38,006	10,057	30,082
Money Market Funds | Level 1
Assets, Fair Value Disclosure
Cash equivalents	38,006	10,057	30,082
Money Market Funds | Level 2
Assets, Fair Value Disclosure
Cash equivalents	0	0	0
Money Market Funds | Level 3
Assets, Fair Value Disclosure
Cash equivalents	$ 0	$ 0	0
Commercial Paper [Member]
Assets, Fair Value Disclosure
Cash equivalents			4,994
Commercial Paper [Member] | Level 1
Assets, Fair Value Disclosure
Cash equivalents			4,994
Commercial Paper [Member] | Level 2
Assets, Fair Value Disclosure
Cash equivalents			0
Commercial Paper [Member] | Level 3
Assets, Fair Value Disclosure
Cash equivalents			$ 0

Fair Value Measurement - Cash a

Fair Value Measurement - Cash and Cash Equivalents Reconciliation (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Cash Equivalents, at Carrying Value [Abstract]
Cash equivalents	$ 38,006	$ 10,057	$ 35,076
Cash	140,062	179,269	126,142
Total cash and cash equivalents	$ 178,068	$ 189,326	$ 161,218	$ 252,836

Fair Value Measurement - Carryi

Fair Value Measurement - Carrying and Fair Value Amounts (Details) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Revolving Credit Facility [Member]
Balance Sheet Grouping
Revolving credit agreement		$ 30,000	$ 30,000
Level 1 | Other Assets, Liabilites, Fair Value
Balance Sheet Grouping
Held-to-maturity marketable securities		107,381	127,365	$ 77,678
Level 1 | Other Assets Liabilities, Carrying Value
Balance Sheet Grouping
Held-to-maturity marketable securities		107,811	127,779	77,612
Level 3 | Other Assets, Liabilites, Fair Value
Balance Sheet Grouping
Senior notes payable	[1]	123,371	124,654	167,210
Credit Agreement loan	[1]	92,046	93,991	97,409
Level 3 | Other Assets, Liabilites, Fair Value | Revolving Credit Facility [Member]
Balance Sheet Grouping
Revolving credit agreement	[1]	29,672	29,452	0
Level 3 | Other Assets Liabilities, Carrying Value
Balance Sheet Grouping
Senior notes payable	[1]	120,000	120,000	160,000
Credit Agreement loan	[1]	92,500	95,000	97,500
Level 3 | Other Assets Liabilities, Carrying Value | Revolving Credit Facility [Member]
Balance Sheet Grouping
Revolving credit agreement	[1]	$ 30,000	$ 30,000	$ 0
[1]	1See Note 10 for definitions of 2019 Notes and Credit Agreement.

Fair Value Measurement - Narrat

Fair Value Measurement - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Derivatives Details
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months			$ 100
Net unrealized gain (loss) on cash flow hedge	$ (261)	$ (507)	(209)	$ (1,398)
Swap [Member]
Derivatives Details
Derivative, Gain (Loss) on Derivative, Net		300		1,600
Designated as Hedging Instrument [Member] | Level 2
Derivatives Details
Derivative Asset	$ 700		$ 700		$ 800
Derivative Liability		2,100		2,100
Not Designated as Hedging Instrument [Member] | Level 2
Derivatives Details
Derivative Asset		$ 1,700		$ 1,700

Receivables, Net (Details)

Receivables, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Affirmative Claim Recovery Estimate	$ 10,800	$ 12,300	$ 8,100
Total Gross Receivables	484,655	419,918	431,604
Allowance for Accounts, Notes, Loans and Financing Receivable, Current	410	573	477
Receivables, net	484,245	419,345	431,127
Back charges claims		300	10,500
Construction Contract [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Gross Receivables	419,598	373,038	362,100
Completed and in Progress [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Gross Receivables	343,707	288,160	266,685
Retentions [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Gross Receivables	75,891	84,878	95,415
Construction Material Sales [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Gross Receivables	54,165	29,357	54,277
Other Business Products and Services [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Gross Receivables	$ 10,892	$ 17,523	$ 15,227

Construction Joint Ventures (De

Construction Joint Ventures (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Construction Joint Venture
Contracts Revenue	$ 429,269	$ 331,346	$ 656,118	$ 540,833
Net cash provided by operating activities			22,686	(53,113)
Unconsolidated Construction Joint Venture
Construction Joint Venture
Performance Guarantees	88,900	76,800	88,900	76,800	$ 83,100
Granite Construction [Member] | Unconsolidated Construction Joint Venture
Construction Joint Venture
Unconsolidated Construction Joint Venture Net (Loss) Income	(9,700)	(2,900)	(8,200)	5,600
Partnership Interest [Member] | Unconsolidated Construction Joint Venture
Construction Joint Venture
Revenue Remaining to be Recognized on Unconsolidated Construction Joint Ventures	$ 5,500,000		$ 5,500,000
Joint Venture Consolidated | Consolidated Construction Joint Venture
Construction Joint Venture
Number of Active Joint Venture Projects	4		4
Contracts Revenue	$ 49,500	33,000	$ 85,000	55,100
Net cash provided by operating activities			19,200	12,800
Joint Venture Consolidated | Minimum | Consolidated Construction Joint Venture
Construction Joint Venture
Construction Contract Value	49,100		49,100
Revenue Remaining to be Recognized on Consolidated Construction Joint Ventures	$ 11,600		$ 11,600
Proportionate Share of the Joint Ventures Equity Owned by or Beneficial Interest in the Reporting Entity Directly or Indirectly	50.00%		50.00%
Joint Venture Consolidated | Maximum | Consolidated Construction Joint Venture
Construction Joint Venture
Construction Contract Value	$ 267,400		$ 267,400
Revenue Remaining to be Recognized on Consolidated Construction Joint Ventures	$ 147,300		$ 147,300
Proportionate Share of the Joint Ventures Equity Owned by or Beneficial Interest in the Reporting Entity Directly or Indirectly	65.00%		65.00%
Joint Venture Unconsolidated | Unconsolidated Construction Joint Venture
Construction Joint Venture
Unconsolidated Construction Joint Venture Net (Loss) Income	$ 17,600	(4,400)	$ 26,200	29,300
Number of Active Joint Venture Projects	11		11
Number of Active Joint Venture Projects Greater than $1Billion	3		3
Joint Venture Unconsolidated | Line Item Joint Venture
Construction Joint Venture
Number of Active Joint Venture Projects	2		2
Contracts Revenue	$ 6,800	$ 9,600	$ 14,700	$ 14,000
Joint Venture Unconsolidated | Minimum | Unconsolidated Construction Joint Venture
Construction Joint Venture
Construction Contract Value	$ 79,400		$ 79,400
Proportionate Share of the Joint Ventures Equity Owned by or Beneficial Interest in the Reporting Entity Directly or Indirectly	20.00%		20.00%
Joint Venture Unconsolidated | Minimum | Line Item Joint Venture
Construction Joint Venture
Construction Contract Value	$ 66,200		$ 66,200
Revenue Per Project Remaining to be Recognized on Line Item Construction Joint Ventures	800		800
Joint Venture Unconsolidated | Maximum | Unconsolidated Construction Joint Venture
Construction Joint Venture
Construction Contract Value	$ 3,700,000		$ 3,700,000
Proportionate Share of the Joint Ventures Equity Owned by or Beneficial Interest in the Reporting Entity Directly or Indirectly	50.00%		50.00%
Joint Venture Unconsolidated | Maximum | Line Item Joint Venture
Construction Joint Venture
Construction Contract Value	$ 74,700		$ 74,700
Revenue Per Project Remaining to be Recognized on Line Item Construction Joint Ventures	7,300		7,300
Reporting Entitys Interest in Joint Venture [Member] | Unconsolidated Construction Joint Venture
Construction Joint Venture
Revenue Remaining to be Recognized on Unconsolidated Construction Joint Ventures	1,800,000		1,800,000
Reporting Entitys Interest in Joint Venture [Member] | Minimum | Unconsolidated Construction Joint Venture
Construction Joint Venture
Revenue Remaining to be Recognized on Unconsolidated Construction Joint Ventures	1,300		1,300
Reporting Entitys Interest in Joint Venture [Member] | Minimum | Line Item Joint Venture
Construction Joint Venture
Construction Contract Value	30,700		30,700
Reporting Entitys Interest in Joint Venture [Member] | Maximum | Unconsolidated Construction Joint Venture
Construction Joint Venture
Revenue Remaining to be Recognized on Unconsolidated Construction Joint Ventures	436,600		436,600
Reporting Entitys Interest in Joint Venture [Member] | Maximum | Line Item Joint Venture
Construction Joint Venture
Construction Contract Value	44,700		44,700
Other Partners Interest in Partnerships [Member] | Unconsolidated Construction Joint Venture
Construction Joint Venture
Revenue Remaining to be Recognized on Unconsolidated Construction Joint Ventures	$ 3,700,000		$ 3,700,000

Construction Joint Ventures - S

Construction Joint Ventures - Schedule of Unconsolidated Construction Joint Ventures Assets and Liabilities (Details) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Construction Joint Venture
Affirmative Claim Recovery Estimate		$ 10,800	$ 12,300	$ 8,100
Unconsolidated Joint Venture Back charges claims		9,800	5,600	4,300
Deficit in unconsolidatedconstruction joint venture		15,900	16,600	8,200
Equity in Construction Joint Ventures	[1]	214,526	230,534	237,298
Unconsolidated Construction Joint Venture
Construction Joint Venture
Performance Guarantees		88,900	83,100	76,800
Joint Venture Unconsolidated | Unconsolidated Construction Joint Venture
Construction Joint Venture
Unconsolidated Construction Joint Venture Assets, Noncurrent Assets		230,633	207,240	216,722
Reporting Entitys Interest in Joint Venture [Member] | Unconsolidated Construction Joint Venture
Construction Joint Venture
Affirmative Claim Recovery Estimate		81,700	65,400	57,800
Unconsolidated Construction Joint Venture Assets	[2],[3]	423,104	454,425	437,723
Unconsolidated Construction Joint Venture Liabilities		208,578	223,891	200,425
Other Partners Interest in Partnerships [Member] | Unconsolidated Construction Joint Venture
Construction Joint Venture
Unconsolidated Construction Joint Venture Assets		828,237	935,615	894,017
Unconsolidated Construction Joint Venture Liabilities	[4]	460,052	472,324	434,371
Cash and Cash Equivalents [Member] | Joint Venture Unconsolidated | Unconsolidated Construction Joint Venture
Construction Joint Venture
Unconsolidated Construction Joint Venture Assets		388,542	537,991	435,098
Other Assets, Current and Longterm [Member] | Joint Venture Unconsolidated | Unconsolidated Construction Joint Venture
Construction Joint Venture
Unconsolidated Construction Joint Venture Assets	[2]	632,166	644,809	679,920
Accounts Payable [Member] | Joint Venture Unconsolidated | Unconsolidated Construction Joint Venture
Construction Joint Venture
Unconsolidated Construction Joint Venture Liabilities		$ 668,630	$ 696,215	$ 634,796
[1]	As of June 30, 2017, December 31, 2016 and June 30, 2016 this balance included $15.9 million, $16.6 million and $8.2 million, respectively, of deficit in construction joint ventures that is included in accrued expenses and other current liabilities on the condensed consolidated balance sheets
[2]	Included in this balance and in accrued and other current liabilities on our condensed consolidated balance sheets as of June 30, 2017, December 31, 2016 and June 30, 2016 was $88.9 million, $83.1 million and $76.8 million, respectively, related to performance guarantees.
[3]	Included in this balance as of June 30, 2017, December 31, 2016 and June 30, 2016 was $81.7 million, $65.4 million and $57.8 million, respectively, related to Granite’s share of estimated cost recovery of customer affirmative claims. In addition, this balance included $9.8 million, $5.6 million and $4.3 million related to Granite’s share of estimated recovery of back charge claims as of June 30, 2017, December 31, 2016 and June 30, 2016, respectively.
[4]	Partners’ interest and adjustments includes amounts to reconcile total liabilities as reported by our partners to Granite’s interest adjusted to reflect our accounting policies.

Construction Joint Ventures -43

Construction Joint Ventures - Schedule of Unconsolidated Construction Joint Ventures Revenue and Costs (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016		Jun. 30, 2017	Jun. 30, 2016
Variable Interest Entity [Line Items]
Contracts Revenue		$ 429,269	$ 331,346		$ 656,118	$ 540,833
Total Unconsolidated JV and Partner's Interest in Revenue As reported			552,986
Total Unconsolidated JV Revenue As reported			682,002
Parent Company [Member] | Unconsolidated Construction Joint Venture
Variable Interest Entity [Line Items]
Unconsolidated Construction Joint Venture Net (Loss) Income		(9,700)	(2,900)		(8,200)	5,600
Joint Venture Unconsolidated | Unconsolidated Construction Joint Venture
Variable Interest Entity [Line Items]
Unconsolidated Construction Joint Venture Revenue		515,983	475,879	[1]	967,304	970,046
Unconsolidated Construction Joint Venture Cost of Revenue		498,932	479,113		941,922	940,610
Unconsolidated Construction Joint Venture Net (Loss) Income		17,600	(4,400)		26,200	29,300
Other Partners Interest in Joint Venture [Member] | Unconsolidated Construction Joint Venture
Variable Interest Entity [Line Items]
Unconsolidated Construction Joint Venture Revenue	[2]	376,332	346,863	[1]	700,162	694,771
Unconsolidated Construction Joint Venture Cost of Revenue	[2]	349,557	347,661	[1]	666,552	671,702
Reporting Entitys Interest in Joint Venture [Member] | Unconsolidated Construction Joint Venture
Variable Interest Entity [Line Items]
Unconsolidated Construction Joint Venture Revenue		139,651	129,016		267,142	275,275
Unconsolidated Construction Joint Venture Cost of Revenue		149,375	131,452		275,370	268,908
Unconsolidated Construction Joint Venture Gross (Loss) Profit		$ (9,724)	$ (2,436)		$ (8,228)	$ 6,367
[1]	While Granite’s interest in revenue, cost of revenue and gross profit were correctly stated, Total revenue and revenue for partners’ interest and adjustments for the three months ended June 30, 2016 were misstated in our Quarterly Report for the quarter ended June 30, 2016. Total revenue and revenue for partner’s interest and adjustments as reported was (in thousands): $682,002 and $552,986, respectively, for the three months ended June 30, 2016. Total revenue and revenue for partner’s interest and adjustments should have been (in thousands): $475,879 and $346,863, respectively, for the three months ended June 30, 2016 and are reflected in the table. The misstatements did not have any impact on the consolidated financial statements in any period. We assessed the materiality of the errors in accordance with the SEC’s Staff Accounting Bulletin 99 and concluded that the errors were not material to either of these previously issued financial statements. Accordingly, we will revise our previously issued financial statements prospectively to correct these errors.
[2]	Partners’ interest and adjustments represents 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.

Investments in Affiliates (Deta

Investments in Affiliates (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Investments in and Advances to Affiliates [Line Items]
Investments in affiliates	$ 37,170	$ 35,668	$ 34,517
Joint Venture Unconsolidated
Investments in and Advances to Affiliates [Line Items]
Investments in affiliates	37,170	35,668	34,517
Equity Method Investment, Summarized Financial Information, Assets	156,969	155,506	176,275
Equity Method Investments Summarized Financial Information Net Assets	96,638	99,804	102,650
Equity Method Investments	22,200	20,800	19,400
Joint Venture Unconsolidated | Other Affiliates [Member]
Investments in and Advances to Affiliates [Line Items]
Investments in affiliates	9,841	9,757	9,499
Equity Method Investments	37,170	35,668	34,517
Joint Venture Unconsolidated | Equity Method investments in Real Estate Affiliates [Member]
Investments in and Advances to Affiliates [Line Items]
Investments in affiliates	27,329	$ 25,911	$ 25,018
Joint Venture Unconsolidated | Minimum [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Investments in and Advances to Affiliates [Line Items]
Investments in affiliates	21,600
Joint Venture Unconsolidated | Maximum | Real Estate Entities [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Investments in and Advances to Affiliates [Line Items]
Real Estate Development Projects Range of Total Assets	$ 70,700

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Property, Plant and Equipment [Line Items]
Property and equipment	$ 1,205,200	$ 1,181,583	$ 1,206,959
Accumulated depreciation and depletion	791,121	774,933	797,099
Property and equipment, net	414,079	406,650	409,860
Equipment and vehicles [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	774,903	756,602	769,307
Quarry property [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	176,041	174,839	179,773
Land and land improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	111,766	110,999	111,425
Building and leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	84,113	82,762	82,733
Office furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	$ 58,377	$ 56,381	$ 63,721

Covenants and Events of Defau46

Covenants and Events of Default (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Debt Instrument [Line Items]
Long-term Debt, Excluding Current Maturities	$ 227,114	$ 229,498	$ 241,907
Covenant Compliance	As of June 2017, we were in compliance with the covenants contained in our note purchase agreement governing our 2019 Notes and Credit Agreement. We are not aware of any non-compliance by any of our unconsolidated real estate entities with the covenants contained in their debt agreements.
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit agreement	$ 30,000	30,000
Term Loan [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	92,500
Long term portion of term loan	87,500	90,000	92,500
Short term portion of term loan	5,000	5,000	5,000
Senior Notes [Member] | 2019 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 120,000	120,000	160,000
Debt Instrument, Interest Rate, Stated Percentage	6.11%
Long-term Debt, Excluding Current Maturities	$ 110,000	110,000	150,000
Scheduled current period payments	40,000	40,000	40,000
Senior Notes [Member] | 2019 Notes [Member] | Long-term Debt
Debt Instrument [Line Items]
Scheduled current period payments	30,000	30,000	30,000
Senior Notes [Member] | 2019 Notes [Member] | Current Maturities of Long-term Debt
Debt Instrument [Line Items]
Scheduled current period payments	10,000	$ 10,000	$ 10,000
Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	292,500
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	200,000
Term Loan Sublimit for Letters of Credit [Member] [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 100,000

Weighted Average Shares Outst47

Weighted Average Shares Outstanding and Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017		Jun. 30, 2016
Weighted Avg Shares Outstanding and Earnings Per Share [Line Items]
Net income (loss) allocated to common shareholders for basic calculation	$ 14,133	$ 14,199	$ (9,657)		$ 3,758
Weighted average common shares outstanding, basic	39,827	39,584	39,738		39,509
Dilutive effect of common stock options and restricted stock units	566	718	0	[1]	631
Weighted average common shares outstanding, diluted	40,393	40,302	39,738		40,140
Basic (in dollars per share)	$ 0.35	$ 0.36	$ (0.24)		$ 0.10
Diluted (in dollars per share)	$ 0.35	$ 0.35	$ (0.24)		$ 0.09
Antidilutive shares			618
[1]	Due to the net loss for the six months ended June 30, 2017, restricted stock units of approximately 618,000 have been excluded from the number of shares used in calculating diluted net loss per share, as their inclusion would be antidilutive.

Equity (Details)

Equity (Details) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017		Jun. 30, 2016
Stockholders' Equity [Roll Forward]
Stockholders' equity, beginning balance				$ 922,591		$ 870,121
Purchase of common stock				(6,568)	[1]	(4,845)	[2]
Other transactions with shareholders	[3]			11,987		8,623
Transactions with noncontrolling interests, net						3,355
Net income (loss)		$ 14,133	$ 14,199	(9,657)		3,758
Net Income (Loss) Attributable to Noncontrolling Interest		2,139	4,327	2,078		5,005
Net loss		16,272	18,526	(7,579)		8,763
Dividends on common stock				(10,354)		(10,292)
Stockholders' equity, ending balance		910,077	869,015	$ 910,077		$ 869,015
Shares Purchased for Tax Withholding for Share Based Compensation				133,000		109,000
Granite Construction [Member]
Stockholders' Equity [Roll Forward]
Stockholders' equity, beginning balance				$ 885,988		$ 839,237
Purchase of common stock				(6,568)	[1]	(4,845)	[2]
Other transactions with shareholders	[3]			11,987		8,623
Transactions with noncontrolling interests, net						0
Net income (loss)				(9,657)		3,758
Dividends on common stock				(10,354)		(10,292)
Stockholders' equity, ending balance		871,396	836,481	871,396		836,481
Noncontrolling Interest [Member]
Stockholders' Equity [Roll Forward]
Stockholders' equity, beginning balance				36,603		30,884
Purchase of common stock				0	[1]	0	[2]
Other transactions with shareholders	[3]			0		0
Transactions with noncontrolling interests, net						(3,355)
Net Income (Loss) Attributable to Noncontrolling Interest		2,078	5,005
Dividends on common stock				0		0
Stockholders' equity, ending balance		$ 38,681	$ 32,534	$ 38,681		$ 32,534
[1]	Represents 133,000 shares purchased in connection with employee tax withholding for restricted stock units vested under our 2012 Equity Incentive Plan.
[2]	Represents 109,000 shares purchased in connection with employee tax withholding for restricted stock units vested under our 2012 Equity Incentive Plan.
[3]	Amounts are comprised primarily of amortized restricted stock units.

Legal Proceedings Legal Proceed

Legal Proceedings Legal Proceedings (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Loss Contingencies [Line Items]
Loss Contingency Accrual	$ 1	$ 4.3	$ 0.7

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Construction	$ 429,269	$ 331,346	$ 656,118	$ 540,833
Large Project Construction	254,463	197,322	461,496	392,771
Construction Materials	79,181	75,911	113,699	110,427
Total revenue	762,913	604,579	1,231,313	1,044,031
Gross profit (loss)	(74,570)	(73,201)	(99,696)	(112,446)
Assets	1,803,145	1,685,829	1,803,145	1,685,829	$ 1,733,453
Reconciliation from Segment Totals to Consolidated [Abstract]
Gross profit (loss)	(74,570)	(73,201)	(99,696)	(112,446)
Selling, general and administrative expenses	51,388	48,705	113,225	104,838
Gain on sales of property and equipment	(807)	(1,366)	(1,077)	(1,966)
Other income (expense), net	(371)	(1,511)	(465)	(2,112)
Income (loss) before provision for (benefit from) income taxes	24,360	27,373	(11,987)	11,686
Construction [Member]
Segment Reporting Information [Line Items]
Elimination of Intersegment Revenue			0
Construction	429,269	331,346	656,118	540,833
Large Project Construction [Member]
Segment Reporting Information [Line Items]
Large Project Construction	254,463	197,322	461,496	392,771
Construction Materials [Member]
Segment Reporting Information [Line Items]
Construction Materials	79,181	75,911	113,699	110,427
Operating Segments [Member]
Segment Reporting Information [Line Items]
Elimination of Intersegment Revenue				(53,846)
Revenue from reportable segments	806,974	644,010	1,289,478	1,097,877
Construction Materials				1,044,031
Gross profit (loss)	(74,570)	(73,201)	(99,696)	(112,446)
Depreciation, Depletion and Amortization, Nonproduction	13,939	12,723	26,017	24,054
Assets	750,415	756,227	750,415	756,227
Reconciliation from Segment Totals to Consolidated [Abstract]
Gross profit (loss)	(74,570)	(73,201)	(99,696)	(112,446)
Operating Segments [Member] | Construction [Member]
Segment Reporting Information [Line Items]
Elimination of Intersegment Revenue				0
Revenue from reportable segments	429,269	331,346	656,118	540,833
Gross profit (loss)	(62,504)	(49,056)	(90,453)	(75,989)
Depreciation, Depletion and Amortization, Nonproduction	5,441	5,345	10,435	9,870
Assets	142,456	151,877	142,456	151,877
Reconciliation from Segment Totals to Consolidated [Abstract]
Gross profit (loss)	(62,504)	(49,056)	(90,453)	(75,989)
Operating Segments [Member] | Large Project Construction [Member]
Segment Reporting Information [Line Items]
Revenue from reportable segments	254,463	197,322	461,496	392,771
Gross profit (loss)	(495)	(13,654)	(3,050)	(27,159)
Depreciation, Depletion and Amortization, Nonproduction	3,081	1,519	4,967	2,988
Assets	312,891	306,440	312,891	306,440
Reconciliation from Segment Totals to Consolidated [Abstract]
Gross profit (loss)	(495)	(13,654)	(3,050)	(27,159)
Operating Segments [Member] | Construction Materials [Member]
Segment Reporting Information [Line Items]
Revenue from reportable segments	123,242	115,342	171,864	164,273
Gross profit (loss)	(11,571)	(10,491)	(6,193)	(9,298)
Depreciation, Depletion and Amortization, Nonproduction	5,417	5,859	10,615	11,196
Assets	295,068	297,910	295,068	297,910
Reconciliation from Segment Totals to Consolidated [Abstract]
Gross profit (loss)	(11,571)	(10,491)	(6,193)	(9,298)
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Elimination of Intersegment Revenue	(44,061)	(39,431)	(58,165)
Intersegment Eliminations [Member] | Construction [Member]
Segment Reporting Information [Line Items]
Elimination of Intersegment Revenue	0	0
Intersegment Eliminations [Member] | Large Project Construction [Member]
Segment Reporting Information [Line Items]
Elimination of Intersegment Revenue	0	0	0	0
Intersegment Eliminations [Member] | Construction Materials [Member]
Segment Reporting Information [Line Items]
Elimination of Intersegment Revenue	$ (44,061)	$ (39,431)	$ (58,165)	$ (53,846)