Granite Construction (GVA) 10-Q 25 Feb 21 2020 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2020	Feb. 22, 2021
Document Information [Line Items]
Entity Central Index Key	0000861459
Entity Registrant Name	GRANITE CONSTRUCTION INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	1-12911
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0239383
Entity Address, Address Line One	585 W. Beach Street
Entity Address, City or Town	Watsonville
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95076
City Area Code	831
Local Phone Number	724-1011
Title of 12(b) Security	Common stock, $0.01 par value
Trading Symbol	GVA
Security Exchange Name	NYSE
Entity Current Reporting Status	No
Entity Interactive Data Current	No
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		45,676,827

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Current assets
Cash and cash equivalents ($101,698, $78,132, and $131,481 related to consolidated construction joint ventures (“CCJVs”))	$ 242,604	$ 262,273	$ 200,263
Short-term marketable securities	5,000	27,799	36,049
Receivables, net ($28,320, $29,564 and $24,990 related to CCJVs)	477,718	547,417	380,985
Contract assets ($17,584, $25,034 and $9,354 related to CCJVs)	226,518	211,441	213,023
Inventories	98,765	88,885	96,862
Equity in construction joint ventures	190,458	193,110	219,908
Other current assets ($16,078, $13,350 and $11,795 related to CCJVs)	60,001	46,016	62,755
Total current assets	1,301,064	1,376,941	1,209,845
Property and equipment, net ($30,047, $31,136 and $35,377 related to CCJVs)	534,958	542,297	552,504
Long-term marketable securities	0	5,000	30,000
Investments in affiliates	73,249	84,176	81,034
Goodwill	248,339	264,279	259,695
Right of use assets	72,945	72,534	71,480
Deferred income taxes, net	51,675	50,158	30,488
Other noncurrent assets	102,145	106,703	123,557
Total assets	2,384,375	2,502,088	2,358,603
Current liabilities
Current maturities of long-term debt	8,253	8,244	47,281
Accounts payable ($58,475, $57,795 and $37,853 related to CCJVs)	312,105	400,775	216,150
Contract liabilities ($47,509, $20,994 and $46,804 related to CCJVs)	133,811	95,737	104,260
Accrued expenses and other current liabilities ($2,458, $2,415 and $3,577 related to CCJVs)	355,393	337,300	308,086
Total current liabilities	809,562	842,056	675,777
Long-term debt	355,911	356,108	333,290
Long-term lease liabilities	57,985	58,618	60,237
Deferred income taxes, net	3,318	3,754	4,913
Other long-term liabilities	57,795	63,136	59,867
Commitments and contingencies (Note 18)
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: 45,592,292 shares as of March 31, 2020, 45,503,805 shares as of December 31, 2019 and 46,812,366 shares as of March 31, 2019	457	456	468
Additional paid-in capital	551,189	549,307	566,497
Accumulated other comprehensive loss	(6,538)	(2,645)	(1,081)
Retained earnings	522,639	594,353	610,302
Total Granite Construction Incorporated shareholders’ equity	1,067,747	1,141,471	1,176,186
Non-controlling interests	32,057	36,945	48,333
Total equity	1,099,804	1,178,416	1,224,519
Total liabilities and equity	$ 2,384,375	$ 2,502,088	$ 2,358,603

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Cash and cash equivalents	$ 242,604	$ 262,273	$ 200,263
Receivables, net	477,718	547,417	380,985
Contract assets	226,518	211,441	213,023
Other current assets	60,001	46,016	62,755
Property and equipment, net	534,958	542,297	552,504
Accounts payable	312,105	400,775	216,150
Contract liabilities	133,811	95,737	104,260
Accrued expenses and other current liabilities	$ 355,393	$ 337,300	$ 308,086
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	3,000,000	3,000,000	3,000,000
Preferred stock, outstanding (in shares)	0	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000	150,000,000
Common stock, shares issued (in shares)	45,592,292	45,503,805	46,812,366
Common stock, shares outstanding (in shares)	45,592,292	45,503,805	46,812,366
Consolidated Construction Corporate Joint Venture [Member]
Cash and cash equivalents	$ 101,698	$ 78,132	$ 131,481
Receivables, net	28,320	29,564	24,990
Contract assets	17,584	25,034	9,354
Other current assets	16,078	13,350	11,795
Property and equipment, net	30,047	31,136	35,377
Accounts payable	58,475	57,795	37,853
Contract liabilities	47,509	20,994	46,804
Accrued expenses and other current liabilities	$ 2,458	$ 2,415	$ 3,577

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Revenue
Total revenue	$ 635,927	$ 581,813
Cost of revenue
Total cost of revenue	612,128	580,675
Gross profit	23,799	1,138
Selling, general and administrative expenses	78,381	80,155
Acquisition and integration expenses	0	1,848
Non-cash impairment charges (See Note 4)	24,413	0
Gain on sales of property and equipment	(623)	(1,900)
Operating loss	(78,372)	(78,965)
Other (income) expense
Interest income	(1,291)	(2,816)
Interest expense	4,994	4,014
Equity in income of affiliates, net	(46)	(1,290)
Other expense (income), net	5,219	(1,762)
Total other expense (income)	8,876	(1,854)
Loss before benefit from income taxes	(87,248)	(77,111)
Benefit from income taxes	(14,710)	(17,350)
Net loss	(72,538)	(59,761)	$ (59,761)
Amount attributable to non-controlling interests	7,168	(2,709)
Net loss attributable to Granite Construction Incorporated	$ (65,370)	$ (62,470)
Net loss per share attributable to common shareholders (See Note 16)
Basic (in dollars per share)	$ (1.44)	$ (1.34)
Diluted (in dollars per share)	$ (1.44)	$ (1.34)
Weighted average shares of common stock
Basic (in shares)	45,520	46,699
Diluted (in shares)	45,520	46,699
Transportation [Member]
Revenue
Total revenue	$ 350,901	$ 301,964
Cost of revenue
Total cost of revenue	325,532	318,312
Water [Member]
Revenue
Total revenue	101,657	99,082
Cost of revenue
Total cost of revenue	92,310	91,136
Specialty [Member]
Revenue
Total revenue	133,039	139,124
Cost of revenue
Total cost of revenue	143,758	125,826
Materials [Member]
Revenue
Total revenue	50,330	41,643
Cost of revenue
Total cost of revenue	$ 50,528	$ 45,401

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Net loss	$ (72,538)	$ (59,761)
Other comprehensive loss, net of tax:
Net unrealized loss on derivatives	(3,360)	(598)
Less: reclassification for net losses included in interest expense	50	(173)
Net change	(3,310)	(771)
Foreign currency translation adjustments, net	(583)	439
Other comprehensive loss	(3,893)	(332)
Comprehensive loss	(76,431)	(60,093)
Non-controlling interests in comprehensive loss	7,168	(2,709)
Comprehensive loss attributable to Granite Construction Incorporated	$ (69,263)	$ (62,802)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands		Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]AOCI Attributable to Parent [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Parent [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Noncontrolling Interest [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balances (in shares) at Dec. 31, 2018									46,665,889
Balances at Dec. 31, 2018		$ 0	$ 0	$ 0	$ (539)	$ (539)	$ 0	$ (539)	$ 467	$ 564,559	$ (749)	$ 679,453	$ 1,243,730	$ 45,624	$ 1,289,354
Net loss									0	0	0	(62,470)	(62,470)	2,709	(59,761)
Other comprehensive (loss) income									$ 0	0	(332)		(332)	0	(332)
Purchases of common stock (in shares)									(86,104)
Purchases of common stock (1)	[1]								$ (1)	(3,866)	0	0	(3,867)	0	(3,867)
Restricted Stock Units (“RSUs”) vested (in shares)									233,950
Restricted Stock Units (“RSUs”) vested									$ 2	0	0	0	2	0	2
Dividends on common stock ($0.13 per share)									$ 0	0	0	(6,086)	(6,086)	0	(6,086)
Amortized RSUs and other (in shares)									(1,369)
Amortized RSUs and other									$ 0	5,804	0	(56)	5,748	0	$ 5,748
Purchases of common stock (in shares)									86,104
Balances (in shares) at Mar. 31, 2019									46,812,366						46,812,366
Balances at Mar. 31, 2019									$ 468	566,497	(1,081)	610,302	1,176,186	48,333	$ 1,224,519
Balances (in shares) at Dec. 31, 2018									46,665,889
Balances at Dec. 31, 2018		0	0	0	(539)	(539)	0	(539)	$ 467	564,559	(749)	679,453	1,243,730	45,624	1,289,354
Net loss															(59,761)
Other comprehensive (loss) income															$ (332)
Balances (in shares) at Dec. 31, 2019									45,503,805						45,503,805
Balances at Dec. 31, 2019		$ 0	$ 0	$ 0	$ (366)	$ (366)	$ 0	$ (366)	$ 456	549,307	(2,645)	594,353	1,141,471	36,945	$ 1,178,416
Net loss									0	0	0	(65,370)	(65,370)	(7,168)	(72,538)
Other comprehensive (loss) income									$ 0	0	(3,893)	0	(3,893)	0	(3,893)
Purchases of common stock (in shares)									(49,710)
Purchases of common stock (1)	[1]								$ 0	(653)	0	0	(653)	0	(653)
Restricted Stock Units (“RSUs”) vested (in shares)									139,055
Restricted Stock Units (“RSUs”) vested									$ 1	(1)	0	0	0	0	0
Dividends on common stock ($0.13 per share)									0	0	0	(5,927)	(5,927)	0	(5,927)
Transactions with non-controlling interests									$ 0	0	0	0	0	2,280	2,280
Amortized RSUs and other (in shares)									(858)
Amortized RSUs and other									$ 0	2,536	0	(51)	2,485	0	$ 2,485
Purchases of common stock (in shares)									49,710
Balances (in shares) at Mar. 31, 2020									45,592,292						45,592,292
Balances at Mar. 31, 2020									$ 457	$ 551,189	$ (6,538)	$ 522,639	$ 1,067,747	$ 32,057	$ 1,099,804
[1]	Represents shares purchased in connection with employee tax withholding for RSUs vested under our 2012 Equity Incentive Plan.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Dividends (in dollars per share)	$ 0.13	$ 0.13

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating activities
Net loss	$ (72,538)	$ (59,761)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation, depletion and amortization	28,447	29,055
Amortization related to the 2.75% Convertible Notes (Note 14)	2,463	0
Gain on sales of property and equipment, net	(623)	(1,900)
Stock-based compensation	2,398	5,748
Equity in net loss from unconsolidated joint ventures	11,816	20,384
Net income from affiliates	(46)	(1,290)
Non-cash impairment charges (See Note 4)	24,413	0
Changes in assets and liabilities:
Receivables	71,040	103,484
Contract assets, net	22,997	(33,345)
Inventories	(9,880)	(8,238)
Contributions to unconsolidated construction joint ventures	(13,767)	(26,933)
Distributions from unconsolidated construction joint ventures and affiliates	2,939	330
Other assets, net	(12,138)	(11,648)
Accounts payable	(87,979)	(40,588)
Accrued expenses and other current liabilities, net	10,333	(11,662)
Net cash used in operating activities	(20,125)	(36,364)
Investing activities
Proceeds from called marketable securities	20,000	0
Maturities of marketable securities	5,000	0
Purchases of property and equipment	(21,435)	(28,744)
Proceeds from sales of property and equipment	3,865	4,687
Other investing activities, net	(1,528)	(286)
Net cash provided by (used in) investing activities	5,902	(24,343)
Financing activities
Proceeds from debt	0	20,000
Debt principal repayments	(2,105)	(21,902)
Cash dividends paid	(5,915)	(6,067)
Repurchases of common stock	(653)	(3,867)
Other financing activities, net	2,273	2
Net cash used in financing activities	(6,400)	(11,834)
Net decrease in cash, cash equivalents and restricted cash	(20,623)	(72,541)
Cash, cash equivalents and restricted cash, beginning of period	268,108	278,629
Total cash, cash equivalents and restricted cash, end of period	247,485	206,088
Supplementary Information
Right of use assets obtained in exchange for lease obligations	4,123	2,739
Cash paid for operating lease liabilities	5,035	4,270
Cash paid during the period for:
Interest	2,170	3,478
Income taxes	812	253
Non-cash investing and financing activities:
RSUs issued, net of forfeitures	4,726	7,459
Accrued cash dividends	$ 5,927	$ 6,086

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Restricted cash	$ 5,835	$ 5,825	$ 5,825
Restricted cash	$ 4,881	$ 5,835	$ 5,825

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Basis of Presentation The condensed consolidated financial statements included herein have been prepared by Granite Construction Incorporated (“we,” “us,” “our,” “the Company” or “Granite”) pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), are unaudited and should be read in conjunction with our Annual Report on Form 10 December 31, 2019 March 31, 2020 2019 December 31, 2019 not Our operations are typically affected more by weather conditions during the first fourth may three March 31, 2020 not We prepared the accompanying condensed consolidated financial statements on the same basis as our annual consolidated financial statements, except for the adoption during the three March 31, 2020 No. 2018 13, Fair Value Measurement (Topic 820 No. 2019 12 , Income Taxes (Topic 740 January 1, 2020, No. 2016 13, Financial Instruments - Credit Losses (Topic 326 No. 2019 05, Credit Losses (Topic 326 , 2 . Cash, Cash Equivalents and Restricted Cash: Three months ended March 31, 2020 2019 Cash, cash equivalents and restricted cash, beginning of period $ 268,108 $ 278,629 End of the period Cash and cash equivalents 242,604 200,263 Restricted cash 4,881 5,825 Total cash, cash equivalents and restricted cash, end of period 247,485 206,088 Net decrease in cash, cash equivalents and restricted cash $ (20,623 ) $ (72,541 )

Note 2 - Recently Issued and Ad

Note 2 - Recently Issued and Adopted Accounting Pronouncements	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	2.   Recently Issued and Adopted Accounting Pronouncements In August 2020, 2020 06, Debt—Debt with Conversion and Other Options (Subtopic 470 20 815 40 March 31, 2022, 2020 06 In March 2020, 2020 04, Reference Rate Reform (Topic 848 March 31, 2020 December 31, 2022 2021. not 14 In June 2016, No. 2016 13, Financial Instruments - Credit Losses (Topic 326 May 2019 No. 2019 05, Credit Losses (Topic 326 326” 326 326 January 1, 2020, 326 not March 31, 2020, In connection with the adoption of Topic 326 , January 1, 2020: Allowance for Credit Losses:

Note 3 - Restatement

Note 3 - Restatement	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Accounting Changes and Error Corrections [Text Block]	3. Restatement Background As disclosed in our 2019 10 February 2020, December 31, 2018, December 31, 2018 2017 first three December 31, 2019 December 31, 2018 10 December 31, 2019 not three March 31, 2019 Description of Restatement Tables We have presented below a reconciliation from the previously reported to the restated values as of and for the three March 31, 2019. 10 March 31, 2019 April 26, 2019 not The impacts to the condensed consolidated statements of shareholders’ equity and comprehensive loss as a result of the restatement were due to the changes in net loss for the three March 31, 2019. no three March 31, 2019 The effects of the prior-period misstatements on our consolidated financial statements are as follows (in thousands, except per share data): Consolidated Balance Sheet March 31, 2019 As Previously Reported Investigation Adjustments Other Adjustments As Restated ASSETS Current assets Cash and cash equivalents $ 200,263 $ — $ — $ 200,263 Short-term marketable securities 36,049 — — 36,049 Receivables, net 368,215 10,566 2,204 380,985 Contract assets 260,250 (45,011 ) (2,216 ) 213,023 Inventories 96,862 — — 96,862 Equity in construction joint ventures 300,489 (74,557 ) (6,024 ) 219,908 Other current assets 54,590 7,606 559 62,755 Total current assets 1,316,718 (101,396 ) (5,477 ) 1,209,845 Property and equipment, net 552,504 — — 552,504 Long-term marketable securities 30,000 — — 30,000 Investments in affiliates 81,034 — — 81,034 Goodwill 259,695 — — 259,695 Right of use assets 71,480 — — 71,480 Deferred income taxes, net — 26,608 3,880 30,488 Other noncurrent assets 128,349 — (4,792 ) 123,557 Total assets $ 2,439,780 $ (74,788 ) $ (6,389 ) $ 2,358,603 LIABILITIES AND EQUITY Current liabilities Current maturities of long-term debt $ 47,281 $ — $ — $ 47,281 Accounts payable 216,966 — (816 ) 216,150 Contract liabilities 90,752 14,561 (1,053 ) 104,260 Accrued expenses and other current liabilities 265,102 43,035 (51 ) 308,086 Total current liabilities 620,101 57,596 (1,920 ) 675,777 Long-term debt 333,290 — — 333,290 Long-term lease liabilities 60,237 — — 60,237 Deferred income taxes, net — — 4,913 4,913 Other long-term liabilities 64,219 — (4,352 ) 59,867 Commitments and contingencies Equity Preferred stock, $ 0.01 3,000,000 none — — — — Common stock, $ 0.01 150,000,000 46,812,366 468 — — 468 Additional paid-in capital 566,497 — — 566,497 Accumulated other comprehensive loss (626 ) — (455 ) (1,081 ) Retained earnings 746,100 (132,325 ) (3,473 ) 610,302 Total Granite Construction Incorporated shareholders’ equity 1,312,439 (132,325 ) (3,928 ) 1,176,186 Non-controlling interests 49,494 (59 ) (1,102 ) 48,333 Total equity 1,361,933 (132,384 ) (5,030 ) 1,224,519 Total liabilities and equity $ 2,439,780 $ (74,788 ) $ (6,389 ) $ 2,358,603 Consolidated Statement of Operations Three Months Ended March 31, 2019 As Previously Reported Investigation Adjustments Other Adjustments As Restated Revenue Transportation $ 338,210 $ (28,022 ) $ (8,224 ) $ 301,964 Water 99,255 (170 ) (3 ) 99,082 Specialty 140,693 — (1,569 ) 139,124 Materials 41,643 — — 41,643 Total revenue 619,801 (28,192 ) (9,796 ) 581,813 Cost of revenue Transportation 316,960 6,208 (4,856 ) 318,312 Water 91,136 — — 91,136 Specialty 125,826 — — 125,826 Materials 45,401 — — 45,401 Total cost of revenue 579,323 6,208 (4,856 ) 580,675 Gross profit (loss) 40,478 (34,400 ) (4,940 ) 1,138 Selling, general and administrative expenses 81,155 — (1,000 ) 80,155 Acquisition and integration expenses 3,323 — (1,475 ) 1,848 Gain on sales of property and equipment (1,900 ) — — (1,900 ) Operating loss (42,100 ) (34,400 ) (2,465 ) (78,965 ) Other (income) expense Interest income (2,816 ) — — (2,816 ) Interest expense 4,014 — — 4,014 Equity in income of affiliates, net (1,290 ) — — (1,290 ) Other income, net (1,762 ) — — (1,762 ) Total other income (1,854 ) — — (1,854 ) Loss before benefit from income taxes (40,246 ) (34,400 ) (2,465 ) (77,111 ) Benefit from income taxes (9,165 ) (7,627 ) (558 ) (17,350 ) Net loss (31,081 ) (26,773 ) (1,907 ) (59,761 ) Amount attributable to non-controlling interests (3,493 ) 59 725 (2,709 ) Net loss attributable to Granite Construction Incorporated $ (34,574 ) $ (26,714 ) $ (1,182 ) $ (62,470 ) Net loss per share attributable to common shareholders Basic $ (0.74 ) $ (0.57 ) $ (0.03 ) $ (1.34 ) Diluted $ (0.74 ) $ (0.57 ) $ (0.03 ) $ (1.34 ) Weighted average shares of common stock Basic 46,699 46,699 46,699 46,699 Diluted 46,699 46,699 46,699 46,699 Consolidated Statement of Cash Flows Three Months Ended March 31, 2019 As Previously Reported Investigation Adjustments Other Adjustments As Restated Operating activities Net loss $ (31,081 ) $ (26,773 ) $ (1,907 ) $ (59,761 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation, depletion and amortization 28,846 — 209 29,055 Gain on sales of property and equipment, net (1,900 ) — — (1,900 ) Stock-based compensation 5,748 — — 5,748 Equity in net loss from unconsolidated joint ventures (455 ) 17,879 2,960 20,384 Net income in affiliates — — (1,290 ) (1,290 ) Changes in assets and liabilities: Receivables 105,086 — (1,602 ) 103,484 Contract assets, net (55,550 ) 16,479 5,726 (33,345 ) Inventories (8,238 ) — — (8,238 ) Contributions to unconsolidated construction joint ventures (26,933 ) — — (26,933 ) Distributions from unconsolidated construction joint ventures 330 — — 330 Other assets, net (4,189 ) (7,585 ) 126 (11,648 ) Accounts payable (34,110 ) — (6,478 ) (40,588 ) Accrued expenses and other current liabilities, net (13,918 ) — 2,256 (11,662 ) Net cash used in operating activities $ (36,364 ) $ — $ — $ (36,364 )

Note 4 - Impairment Charges

Note 4 - Impairment Charges	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Asset Impairment Charges [Text Block]	4. Goodwill We performed an interim goodwill impairment test on the March 31, 2020 three March 31, 2020, 19 three March 31, 2020 no 15%. not no Consistent with our annual impairment test, we calculated the estimated fair values of the Water and Mineral Services Group Materials and Water and Mineral Services Group Specialty reporting units using the discounted cash flows and market multiple methods. Judgments inherent in these methods included the determination of appropriate discount rates, the amount and timing of expected future cash flows, revenue and margin growth rates, and appropriate benchmark companies. The cash flows used in our discounted cash flow model were based on five Future developments that we are unable to anticipate may 3 Subsequent Goodwill Impairment Charges We performed a second September 30, 2020 three September 30, 2020. three September 30, 2020. 15%; no not no 2020 December 31, 2020 no Investment in Affiliates During the three March 31, 2020, three March 31, 2020. March 31, 2020 3

Note 5 - Revisions in Estimates

Note 5 - Revisions in Estimates	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Revisions in Estimates [Text Block]	5. Our profit recognition related to construction contracts is based on estimates of transaction price and 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. Changes in estimates of transaction price and costs to complete may no no not 2019 10 not three March 31, 2019. three March 31, 2020, not In the normal course of business, we have revisions in estimates, including estimated costs some of which are associated with unresolved affirmative claims and back charges. The estimated or actual recovery related to these estimated costs may may There were no The projects with decreases from revisions in estimates, which individually had an impact of $5.0 As Restated Three Months Ended March 31, 2020 2019 Number of projects with downward estimate changes 2 2 Range of reduction in gross profit from each project, net $ 5.8 - 22.7 $ 17.3 - 20.8 Decrease to project profitability $ 28.5 $ 38.1 Increase to net loss $ 21.6 $ 29.4 Increase to net loss per diluted share $ 0.47 $ 0.63 Decreases during the three March 31, 2020 2019 three March 31, 2020 three March 31, 2020 2019

Note 6 - Disaggregation of Reve

Note 6 - Disaggregation of Revenue	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Disaggregation Of Revenue [Text Block]	6.   Disaggregation of Revenue The following tables present our disaggregated revenue (in thousands): Three months ended March 31, 2020 Transportation Water Specialty Materials Total California $ 94,932 5,512 $ 44,488 $ 33,267 $ 178,199 Federal 398 381 26,491 — 27,270 Heavy Civil 167,426 7,102 3,494 — 178,022 Midwest 24,243 — 11,503 — 35,746 Northwest 63,902 1,657 31,613 14,453 111,625 Water and Mineral Services — 87,005 15,450 2,610 105,065 Total $ 350,901 $ 101,657 $ 133,039 $ 50,330 $ 635,927 2019 (As Restated) California $ 69,513 $ 1,366 $ 32,155 $ 23,065 $ 126,099 Federal 27 508 15,202 — 15,737 Heavy Civil 159,742 4,361 — — 164,103 Midwest 18,061 84 34,321 — 52,466 Northwest 54,621 1,231 32,192 14,532 102,576 Water and Mineral Services — 91,532 25,254 4,046 120,832 Total $ 301,964 $ 99,082 $ 139,124 $ 41,643 $ 581,813

Note 7 - Unearned Revenue

Note 7 - Unearned Revenue	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Unearned Revenue From Unsatisfied Performance Obligations [Text Block]	7.  Unearned Revenue The following tables present our unearned revenue as of the respective periods (in thousands): March 31, 2020 Transportation Water Specialty Total California $ 527,971 $ 52,136 $ 94,006 $ 674,113 Federal 18,152 957 131,569 150,678 Heavy Civil 1,321,443 41,511 240,060 1,603,014 Midwest 208,872 150 140,461 349,483 Northwest 614,653 2,868 61,680 679,201 Water and Mineral Services — 143,539 — 143,539 Total $ 2,691,091 $ 241,161 $ 667,776 $ 3,600,028 December 31, 2019 Transportation Water Specialty Total California $ 525,641 $ 19,950 $ 100,019 $ 645,610 Federal 14,139 1,041 153,563 168,743 Heavy Civil 1,480,367 47,046 243,329 1,770,742 Midwest 230,889 152 135,680 366,721 Northwest 547,020 4,545 61,706 613,271 Water and Mineral Services — 152,141 — 152,141 Total $ 2,798,056 $ 224,875 $ 694,297 $ 3,717,228 March 31, 2019 (As Restated) Transportation Water Specialty Total California $ 402,112 $ 7,314 $ 69,068 $ 478,494 Federal 126 1,717 134,605 136,448 Heavy Civil 1,423,909 16,827 — 1,440,736 Midwest 128,867 143 183,598 312,608 Northwest 361,661 1,759 71,878 435,298 Water and Mineral Services — 193,915 — 193,915 Total $ 2,316,675 $ 221,675 $ 459,149 $ 2,997,499

Note 8 - Contract Assets and Li

Note 8 - Contract Assets and Liabilities	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	8.   Contract Assets and Liabilities During the three March 31, 2020 2019 December 31, 2019 2018 As a result of changes in contract transaction price related to performance obligations that were satisfied or partially satisfied prior to the end of the periods, we recognized revenue of $43.9 million and $38.9 million during the three March 31, 2020 2019 As of March 31, 2020 December 31, 2019 March 31, 2019 The components of the contract asset balances as of the respective dates were as follows (in thousands): As Restated March 31, 2020 December 31, 2019 March 31, 2019 Costs in excess of billings and estimated earnings $ 114,378 $ 100,761 $ 137,689 Contract retention 112,140 110,680 75,334 Total contract assets $ 226,518 $ 211,441 $ 213,023 As of March 31, 2020 December 31, 2019 March 31, 2019 no 10% one The components of the contract liability balances as of the respective dates were as follows (in thousands): As Restated March 31, 2020 December 31, 2019 March 31, 2019 Billings in excess of costs and estimated earnings, net of retention $ 127,560 $ 86,736 $ 91,885 Provisions for losses 6,251 9,001 12,375 Total contract liabilities $ 133,811 $ 95,737 $ 104,260

Note 9 - Receivables, Net

Note 9 - Receivables, Net	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Financing Receivables [Text Block]	9. Receivables include billed and unbilled amounts for services provided to clients for which we have an unconditional right to payment as of the end of the applicable period and do not As Restated March 31, 2020 December 31, 2019 March 31, 2019 Contracts completed and in progress: Billed $ 250,683 $ 299,633 $ 200,092 Unbilled 141,514 149,696 112,892 Total contracts completed and in progress 392,197 449,329 312,984 Material sales 34,268 42,936 29,948 Other 52,645 55,526 38,380 Total gross receivables 479,110 547,791 381,312 Less: allowance for credit losses 1,392 374 327 Total net receivables $ 477,718 $ 547,417 $ 380,985 Included in other receivables at March 31, 2020 December 31, 2019 March 31, 2019 No 10%

Note 10 - Fair Value Measuremen

Note 10 - Fair Value Measurement	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	10.   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 March 31, 2020 Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 58,693 $ — $ — $ 58,693 Other noncurrent assets Restricted cash 4,881 — — 4,881 Total assets $ 63,574 $ — $ — $ 63,574 Accrued and other current liabilities Interest rate swap $ — $ 8,890 $ — $ 8,890 Total liabilities $ — $ 8,890 $ — $ 8,890 December 31, 2019 Cash equivalents Money market funds $ 94,696 $ — $ — $ 94,696 Other noncurrent assets Restricted cash 5,835 — — 5,835 Total assets $ 100,531 $ — $ — $ 100,531 Accrued and other current liabilities Interest rate swap $ — $ 4,603 $ — $ 4,603 Total liabilities $ — $ 4,603 $ — $ 4,603 March 31, 2019 Cash equivalents Money market funds $ 36,159 $ — $ — $ 36,159 Other noncurrent assets Restricted cash 5,825 — — 5,825 Total assets $ 41,984 $ — $ — $ 41,984 Accrued and other current liabilities Interest rate swap $ — $ 2,530 $ — $ 2,530 Total liabilities $ — $ 2,530 $ — $ 2,530 Interest Rate Swaps In connection with the Third Amended and Restated Credit Agreement (as discussed further in Note 14 two May 2018. two May 2023. Other Assets and Liabilities The carrying values and estimated fair values of financial instruments that are not March 31, 2020 December 31, 2019 March 31, 2019 (in thousands) Fair Value Hierarchy Carrying Value Fair Value Carrying Value Fair Value Carrying Value Fair Value Assets: Held-to-maturity marketable securities (1) Level 1 $ 5,000 $ 5,006 $ 32,799 $ 32,792 $ 66,049 $ 65,556 Liabilities (including current maturities): 2.75% Convertible Notes (2),(3) Level 2 $ 195,295 $ 176,094 $ 193,696 $ 249,895 $ — $ — Credit Agreement - term loan (2) Level 3 136,875 137,194 138,750 139,042 144,375 145,206 Credit Agreement - revolving credit facility (2) Level 3 25,000 25,061 25,000 25,043 197,000 197,406 2019 Notes (2) Level 3 — — — — 40,000 41,207 ( 1 March 31, 2020 December 31, 2019, March 31, 2019. ( 2 2019 March 31, 2020 December 31, 2019. 14 2019 ( 3 March 31, 2020 December 31, 2019, 2.75% 14 As disclosed in Note 4, three March 31, 2020. three March 31, 2020, not three March 31, 2019, not

Note 11 - Construction Joint Ve

Note 11 - Construction Joint Ventures	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Construction Joint Ventures [Text Block]	11.   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 March 31, 2020 no Due to the joint and several nature of the performance obligations under the related owner contracts, if any of the partners fail to perform, we and the remaining partners, if any, would be responsible for performance of the outstanding work (i.e., we provide a performance guarantee). At March 31, 2020 not may Consolidated Construction Joint Ventures (“CCJVs”) At March 31, 2020 seven three March 31, 2020 2019 three March 31, 2020 2019 Unconsolidated Construction Joint Ventures As of March 31, 2020 nine March 31, 2020 The following is summary financial information related to unconsolidated construction joint ventures: As Restated (in thousands) March 31, 2020 December 31, 2019 March 31, 2019 Assets Cash, cash equivalents and marketable securities $ 144,472 $ 179,049 $ 281,355 Other current assets (1) 821,399 972,840 847,789 Noncurrent assets 203,520 207,584 215,129 Less partners’ interest 785,876 904,565 885,901 Granite’s interest (1),(2) 383,515 454,908 458,372 Liabilities 0 Current liabilities 555,380 581,199 533,325 Less partners’ interest and adjustments (3) 289,165 243,202 249,206 Granite’s interest 266,215 337,997 284,119 Equity in construction joint ventures (4) $ 117,300 $ 116,911 $ 174,253 ( 1 March 31, 2020 December 31, 2019 March 31, 2019 ( 2 March 31, 2020 December 31, 2019 March 31, 2019 March 31, 2020 December 31, 2019 March 31, 2019 ( 3 ( 4 March 31, 2020 December 31, 2019 March 31, 2019 Three Months Ended March 31, As Restated (in thousands) 2020 2019 Revenue Total $ 62,030 $ 415,934 Less partners’ interest and adjustments (1) (21,672 ) 305,418 Granite’s interest 83,702 110,516 Cost of revenue Total 228,460 411,485 Less partners’ interest and adjustments (1) 132,743 280,427 Granite’s interest 95,717 131,058 Granite’s interest in gross loss $ (12,015 ) $ (20,542 ) ( 1 During the three March 31, 2020 2019 five four 2020 2019, Line Item Joint Ventures As of March 31, 2020, March 31, 2020, three March 31, 2020 , three March 31, 2019,

Note 12 - Investments in Affili

Note 12 - Investments in Affiliates	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Investments in and Advances to Affiliates, Schedule of Investments [Text Block]	12.   Investments in Affiliates Our investments in affiliates balance consists of equity method investments in the following types of entities: (in thousands) March 31, 2020 December 31, 2019 March 31, 2019 Foreign $ 45,598 $ 55,335 $ 56,082 Real estate 16,651 17,229 16,433 Asphalt terminal 11,000 11,612 8,519 Total investments in affiliates $ 73,249 $ 84,176 $ 81,034 The following table provides summarized balance sheet information for our affiliates accounted for under the equity method on a combined basis: (in thousands) March 31, 2020 December 31, 2019 March 31, 2019 Current assets $ 112,426 $ 122,348 $ 137,041 Noncurrent assets 163,452 165,331 179,377 Total assets 275,878 287,679 316,418 Current liabilities 45,617 48,322 65,848 Long-term liabilities (1) 57,182 61,078 75,949 Total liabilities 102,799 109,400 141,797 Net assets 173,079 178,279 174,621 Granite’s share of net assets $ 73,249 $ 84,176 $ 81,034 ( 1 Of the $275.9 million of total affiliate assets as of March 31, 2020 thirteen three March 31, 2020 three March 31, 2020 4 March 31, 2020 December 31, 2019 March 31, 2019 March 31, 2020

Note 13 - Property and Equipmen

Note 13 - Property and Equipment, Net	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	13.   Property and Equipment, net Balances of major classes of assets and total accumulated depreciation and depletion are included in property and equipment, net in the condensed consolidated balance sheets and were as follows: (in thousands) March 31, 2020 December 31, 2019 March 31, 2019 Equipment and vehicles $ 942,116 $ 947,687 $ 915,748 Quarry property 188,380 188,960 191,805 Land and land improvements 134,147 132,531 140,078 Buildings and leasehold improvements 124,784 122,316 108,587 Office furniture and equipment 68,327 67,991 66,176 Property and equipment 1,457,754 1,459,485 1,422,394 Less: accumulated depreciation and depletion 922,796 917,188 869,890 Property and equipment, net $ 534,958 $ 542,297 $ 552,504

Note 14 - Long-term Debt and Cr

Note 14 - Long-term Debt and Credit Arrangements	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Long-term Debt [Text Block]	14.   Long-Term Debt and Credit Arrangements (in thousands) March 31, 2020 December 31, 2019 March 31, 2019 2.75% Convertible Notes $ 195,295 $ 193,696 $ — Credit Agreement - term loan 136,875 138,750 144,375 Credit Agreement - revolving credit facility 25,000 25,000 197,000 2019 Notes — — 40,000 Debt issuance costs and other 6,994 6,906 (804 ) Total debt 364,164 364,352 380,571 Less current maturities 8,253 8,244 47,281 Total long-term debt $ 355,911 $ 356,108 $ 333,290 The aggregate minimum principal maturities of long-term debt related to balances at March 31, 2020 2.75% 2020; 2021; 2022; 2023; 2024; 2025 Credit Agreement On March 26, 2020, No.3 2020. On June 19, 2020 November 12, 2020, No. 4 No. 5, On February 19, 2021, No. 6 may We refer to Third Amended and Restated Credit Agreement dated May 31, 2018 The Credit Agreement consists of a term loan and a revolving credit facility. The term loan requires that Granite repay 1.25% of the original $150.0 million principal balance each quarter until the maturity date, at which point the remaining balance is due. As of each March 31, 2020 December 31, 2019 March 31, 2019, $ As of March 31, 2020 June 2020 December 2023. Borrowings under the Credit Agreement bear interest at LIBOR, subject to a 75 basis point floor, or a base rate (at our option), plus an applicable margin based on the Consolidated Leverage Ratio (as defined in the Credit Agreement) calculated quarterly. LIBOR varies based on the applicable loan term, market conditions and other external factors. The applicable margin was 3.00% for loans bearing interest based on LIBOR and 2.00% for loans bearing interest at the base rate at March 31, 2020. March 31, 2020 three 2.75% In November 2019, “2.75% May 1 November 1 May 1, 2020 November 1, 2024, As of March 31, 2020 December 31, 2019 March 31, 2020 December 31, 2019 On October 29, 2019, 2.75% March 31, 2020 December 31, 2019. 2019 As of March 31, 2019, December 2019 ( “2019 July 29, 2019, Covenants and Events of Default Our Credit Agreement requires us to comply with various affirmative, restrictive and financial covenants, including the financial covenants described below. Our failure to comply with these covenants would constitute an event of default under the Credit Agreement. Additionally, our failure to pay principal, interest or other amounts when due or within the relevant grace period on our 2.75% 2.75% no 2.75% The most significant financial covenants under the terms of our Credit Agreement require the maintenance of a minimum Consolidated Interest Coverage Ratio and a maximum Consolidated Leverage Ratio. As of March 31, 2020, not 2019 10 2020 10 February 28, 2021.

Note 15 - Leases

Note 15 - Leases	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	15.   Leases We have leases for office and shop space, as well as for equipment primarily utilized in our construction projects. As of March 31, 2020 23 y March 31, 2020 December 31, 2019 March 31, 2019 As of March 31, 2020 December 31, 2019 March 31, 2019 no not Lease expense was $5.2 million and $4.3 million during the three March 31, 2020 2019 March 31, 2020 December 31, 2019 March 31, 2019 March 31, 2020 December 31, 2019 March 31, 2019 one not The following table summarizes our undiscounted lease liabilities outstanding as of March 31, 2020 Remainder of 2020 $ 15,568 2021 19,643 2022 17,502 2023 12,001 2024 7,138 2025 through 2036 13,510 Total future minimum lease payments 85,362 Less: imputed interest (9,435 ) Total $ 75,927

Note 16 - Weighted Average Shar

Note 16 - Weighted Average Shares Outstanding and Net Loss Per Share	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	16.   Weighted Average Shares Outstanding and Net Loss Per Share The following table presents a reconciliation of the weighted average shares outstanding used in calculating basic and diluted net loss per share as well as the calculation of basic and diluted net loss per share: Three Months Ended March 31, As Restated (in thousands, except per share amounts) 2020 2019 Numerator (basic and diluted) Net loss allocated to common shareholders for basic calculation $ (65,370 ) $ (62,470 ) Denominator Weighted average common shares outstanding, basic 45,520 46,699 Dilutive effect of RSUs and 2.75% Convertible Notes (1),(2) — — Weighted average common shares outstanding, diluted 45,520 46,699 Net loss per share, basic $ (1.44 ) $ (1.34 ) Net loss per share, diluted $ (1.44 ) $ (1.34 ) ( 1 three March 31, 2020 2019, ( 2 three March 31, 2020 2.75%

Note 17 - Income Taxes

Note 17 - Income Taxes	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	17.   Income Taxes The following table presents the benefit from income taxes for the respective periods: Three Months Ended March 31, As Restated (dollars in thousands) 2020 2019 Benefit from income taxes $ (14,710 ) $ (17,350 ) Effective tax rate 16.9 % 22.5 % Our effective tax rate for the three March 31, 2020 2019 first 2020 no 4

Note 18 - Contingencies - Legal

Note 18 - Contingencies - Legal Proceedings	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	18.  Contingencies - Legal Proceedings In the ordinary course of business, we and our affiliates are involved in various legal proceedings alleging, among other things, liability issues or breach of contract or tortious conduct in connection with the performance of services and/or materials provided, the various outcomes of which cannot be predicted with certainty. We and our affiliates are also subject to government inquiries in the ordinary course of business seeking information concerning our compliance with government construction contracting requirements and various laws and regulations, the outcomes which cannot be predicted with certainty. Some of the matters in which we or our joint ventures and affiliates are involved may not may 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 not 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 the consolidated balance sheets. The aggregate liabilities recorded as of March 31, 2020 2019 On August 13, 2019, February 20, 2020 April 30, 2018 October 24, 2019, 10 20 1934 10b 5 May 20, 2020, January 21, 2021, On October 23, 2019, June 2018 1933 August 10, 2020, September 16, 2020, On May 6, 2020, 1934 April 30, 2018 October 24, 2019. As of March 31, 2020, no not not In connection with our disclosure of the Audit Committee’s independent Investigation, we voluntarily contacted the San Francisco office of the SEC Division of Enforcement regarding the Investigation. The SEC has issued us subpoenas for documents in connection with the independent Investigation. We have produced documents to the SEC regarding the accounting issues identified during the independent Investigation and will continue to cooperate with the SEC in its investigation.

Note 19 - Business Segment Info

Note 19 - Business Segment Information	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	19.   Business Segment Information Summarized segment information is as follows (in thousands): Three Months Ended March 31, Transportation Water Specialty Materials Total 2020 Total revenue from reportable segments $ 350,901 $ 101,657 $ 133,039 $ 64,652 $ 650,249 Elimination of intersegment revenue — — — (14,322 ) (14,322 ) Revenue from external customers 350,901 101,657 133,039 50,330 635,927 Gross profit (loss) 25,369 9,347 (10,719 ) (198 ) 23,799 Depreciation, depletion and amortization 5,026 9,564 6,383 4,973 25,946 Segment assets 304,376 275,447 128,471 366,559 1,074,853 2019 (As Restated) Total revenue from reportable segments $ 301,964 $ 99,082 $ 139,124 $ 50,556 $ 590,726 Elimination of intersegment revenue — — — (8,913 ) (8,913 ) Revenue from external customers 301,964 99,082 139,124 41,643 581,813 Gross (loss) profit (16,348 ) 7,946 13,298 (3,758 ) 1,138 Depreciation, depletion and amortization 3,640 11,056 5,812 5,579 26,087 Segment assets 326,995 303,671 152,307 375,136 1,158,109 A reconciliation of segment gross profit to consolidated loss before benefit from income taxes is as follows: Three Months Ended March 31, As Restated (in thousands) 2020 2019 Total gross profit from reportable segments $ 23,799 $ 1,138 Selling, general and administrative expenses 78,381 80,155 Acquisition and integration expenses — 1,848 Non-cash impairment charges (See Note 4) 24,413 — Gain on sales of property and equipment (623 ) (1,900 ) Total other expense (income) 8,876 (1,854 ) Loss before benefit from income taxes $ (87,248 ) $ (77,111 )

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Cash, Cash Equivalents and Restricted Cash: Three months ended March 31, 2020 2019 Cash, cash equivalents and restricted cash, beginning of period $ 268,108 $ 278,629 End of the period Cash and cash equivalents 242,604 200,263 Restricted cash 4,881 5,825 Total cash, cash equivalents and restricted cash, end of period 247,485 206,088 Net decrease in cash, cash equivalents and restricted cash $ (20,623 ) $ (72,541 )

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Cash and Cash Equivalents [Table Text Block]	Three months ended March 31, 2020 2019 Cash, cash equivalents and restricted cash, beginning of period $ 268,108 $ 278,629 End of the period Cash and cash equivalents 242,604 200,263 Restricted cash 4,881 5,825 Total cash, cash equivalents and restricted cash, end of period 247,485 206,088 Net decrease in cash, cash equivalents and restricted cash $ (20,623 ) $ (72,541 )

Note 3 - Restatement (Tables)

Note 3 - Restatement (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]	March 31, 2019 As Previously Reported Investigation Adjustments Other Adjustments As Restated ASSETS Current assets Cash and cash equivalents $ 200,263 $ — $ — $ 200,263 Short-term marketable securities 36,049 — — 36,049 Receivables, net 368,215 10,566 2,204 380,985 Contract assets 260,250 (45,011 ) (2,216 ) 213,023 Inventories 96,862 — — 96,862 Equity in construction joint ventures 300,489 (74,557 ) (6,024 ) 219,908 Other current assets 54,590 7,606 559 62,755 Total current assets 1,316,718 (101,396 ) (5,477 ) 1,209,845 Property and equipment, net 552,504 — — 552,504 Long-term marketable securities 30,000 — — 30,000 Investments in affiliates 81,034 — — 81,034 Goodwill 259,695 — — 259,695 Right of use assets 71,480 — — 71,480 Deferred income taxes, net — 26,608 3,880 30,488 Other noncurrent assets 128,349 — (4,792 ) 123,557 Total assets $ 2,439,780 $ (74,788 ) $ (6,389 ) $ 2,358,603 LIABILITIES AND EQUITY Current liabilities Current maturities of long-term debt $ 47,281 $ — $ — $ 47,281 Accounts payable 216,966 — (816 ) 216,150 Contract liabilities 90,752 14,561 (1,053 ) 104,260 Accrued expenses and other current liabilities 265,102 43,035 (51 ) 308,086 Total current liabilities 620,101 57,596 (1,920 ) 675,777 Long-term debt 333,290 — — 333,290 Long-term lease liabilities 60,237 — — 60,237 Deferred income taxes, net — — 4,913 4,913 Other long-term liabilities 64,219 — (4,352 ) 59,867 Commitments and contingencies Equity Preferred stock, $ 0.01 3,000,000 none — — — — Common stock, $ 0.01 150,000,000 46,812,366 468 — — 468 Additional paid-in capital 566,497 — — 566,497 Accumulated other comprehensive loss (626 ) — (455 ) (1,081 ) Retained earnings 746,100 (132,325 ) (3,473 ) 610,302 Total Granite Construction Incorporated shareholders’ equity 1,312,439 (132,325 ) (3,928 ) 1,176,186 Non-controlling interests 49,494 (59 ) (1,102 ) 48,333 Total equity 1,361,933 (132,384 ) (5,030 ) 1,224,519 Total liabilities and equity $ 2,439,780 $ (74,788 ) $ (6,389 ) $ 2,358,603 Three Months Ended March 31, 2019 As Previously Reported Investigation Adjustments Other Adjustments As Restated Revenue Transportation $ 338,210 $ (28,022 ) $ (8,224 ) $ 301,964 Water 99,255 (170 ) (3 ) 99,082 Specialty 140,693 — (1,569 ) 139,124 Materials 41,643 — — 41,643 Total revenue 619,801 (28,192 ) (9,796 ) 581,813 Cost of revenue Transportation 316,960 6,208 (4,856 ) 318,312 Water 91,136 — — 91,136 Specialty 125,826 — — 125,826 Materials 45,401 — — 45,401 Total cost of revenue 579,323 6,208 (4,856 ) 580,675 Gross profit (loss) 40,478 (34,400 ) (4,940 ) 1,138 Selling, general and administrative expenses 81,155 — (1,000 ) 80,155 Acquisition and integration expenses 3,323 — (1,475 ) 1,848 Gain on sales of property and equipment (1,900 ) — — (1,900 ) Operating loss (42,100 ) (34,400 ) (2,465 ) (78,965 ) Other (income) expense Interest income (2,816 ) — — (2,816 ) Interest expense 4,014 — — 4,014 Equity in income of affiliates, net (1,290 ) — — (1,290 ) Other income, net (1,762 ) — — (1,762 ) Total other income (1,854 ) — — (1,854 ) Loss before benefit from income taxes (40,246 ) (34,400 ) (2,465 ) (77,111 ) Benefit from income taxes (9,165 ) (7,627 ) (558 ) (17,350 ) Net loss (31,081 ) (26,773 ) (1,907 ) (59,761 ) Amount attributable to non-controlling interests (3,493 ) 59 725 (2,709 ) Net loss attributable to Granite Construction Incorporated $ (34,574 ) $ (26,714 ) $ (1,182 ) $ (62,470 ) Net loss per share attributable to common shareholders Basic $ (0.74 ) $ (0.57 ) $ (0.03 ) $ (1.34 ) Diluted $ (0.74 ) $ (0.57 ) $ (0.03 ) $ (1.34 ) Weighted average shares of common stock Basic 46,699 46,699 46,699 46,699 Diluted 46,699 46,699 46,699 46,699 Three Months Ended March 31, 2019 As Previously Reported Investigation Adjustments Other Adjustments As Restated Operating activities Net loss $ (31,081 ) $ (26,773 ) $ (1,907 ) $ (59,761 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation, depletion and amortization 28,846 — 209 29,055 Gain on sales of property and equipment, net (1,900 ) — — (1,900 ) Stock-based compensation 5,748 — — 5,748 Equity in net loss from unconsolidated joint ventures (455 ) 17,879 2,960 20,384 Net income in affiliates — — (1,290 ) (1,290 ) Changes in assets and liabilities: Receivables 105,086 — (1,602 ) 103,484 Contract assets, net (55,550 ) 16,479 5,726 (33,345 ) Inventories (8,238 ) — — (8,238 ) Contributions to unconsolidated construction joint ventures (26,933 ) — — (26,933 ) Distributions from unconsolidated construction joint ventures 330 — — 330 Other assets, net (4,189 ) (7,585 ) 126 (11,648 ) Accounts payable (34,110 ) — (6,478 ) (40,588 ) Accrued expenses and other current liabilities, net (13,918 ) — 2,256 (11,662 ) Net cash used in operating activities $ (36,364 ) $ — $ — $ (36,364 )

Note 5 - Revisions in Estimat_2

Note 5 - Revisions in Estimates (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Change in Accounting Estimate [Table Text Block]	As Restated Three Months Ended March 31, 2020 2019 Number of projects with downward estimate changes 2 2 Range of reduction in gross profit from each project, net $ 5.8 - 22.7 $ 17.3 - 20.8 Decrease to project profitability $ 28.5 $ 38.1 Increase to net loss $ 21.6 $ 29.4 Increase to net loss per diluted share $ 0.47 $ 0.63

Note 6 - Disaggregation of Re_2

Note 6 - Disaggregation of Revenue (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Disaggregation of Revenue [Table Text Block]	2020 Transportation Water Specialty Materials Total California $ 94,932 5,512 $ 44,488 $ 33,267 $ 178,199 Federal 398 381 26,491 — 27,270 Heavy Civil 167,426 7,102 3,494 — 178,022 Midwest 24,243 — 11,503 — 35,746 Northwest 63,902 1,657 31,613 14,453 111,625 Water and Mineral Services — 87,005 15,450 2,610 105,065 Total $ 350,901 $ 101,657 $ 133,039 $ 50,330 $ 635,927 2019 (As Restated) California $ 69,513 $ 1,366 $ 32,155 $ 23,065 $ 126,099 Federal 27 508 15,202 — 15,737 Heavy Civil 159,742 4,361 — — 164,103 Midwest 18,061 84 34,321 — 52,466 Northwest 54,621 1,231 32,192 14,532 102,576 Water and Mineral Services — 91,532 25,254 4,046 120,832 Total $ 301,964 $ 99,082 $ 139,124 $ 41,643 $ 581,813

Note 7 - Unearned Revenue (Tabl

Note 7 - Unearned Revenue (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule Of Unearned Revenue [Table Text Block]	March 31, 2020 Transportation Water Specialty Total California $ 527,971 $ 52,136 $ 94,006 $ 674,113 Federal 18,152 957 131,569 150,678 Heavy Civil 1,321,443 41,511 240,060 1,603,014 Midwest 208,872 150 140,461 349,483 Northwest 614,653 2,868 61,680 679,201 Water and Mineral Services — 143,539 — 143,539 Total $ 2,691,091 $ 241,161 $ 667,776 $ 3,600,028 December 31, 2019 Transportation Water Specialty Total California $ 525,641 $ 19,950 $ 100,019 $ 645,610 Federal 14,139 1,041 153,563 168,743 Heavy Civil 1,480,367 47,046 243,329 1,770,742 Midwest 230,889 152 135,680 366,721 Northwest 547,020 4,545 61,706 613,271 Water and Mineral Services — 152,141 — 152,141 Total $ 2,798,056 $ 224,875 $ 694,297 $ 3,717,228 March 31, 2019 (As Restated) Transportation Water Specialty Total California $ 402,112 $ 7,314 $ 69,068 $ 478,494 Federal 126 1,717 134,605 136,448 Heavy Civil 1,423,909 16,827 — 1,440,736 Midwest 128,867 143 183,598 312,608 Northwest 361,661 1,759 71,878 435,298 Water and Mineral Services — 193,915 — 193,915 Total $ 2,316,675 $ 221,675 $ 459,149 $ 2,997,499

Note 8 - Contract Assets and _2

Note 8 - Contract Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	As Restated March 31, 2020 December 31, 2019 March 31, 2019 Costs in excess of billings and estimated earnings $ 114,378 $ 100,761 $ 137,689 Contract retention 112,140 110,680 75,334 Total contract assets $ 226,518 $ 211,441 $ 213,023 As Restated March 31, 2020 December 31, 2019 March 31, 2019 Billings in excess of costs and estimated earnings, net of retention $ 127,560 $ 86,736 $ 91,885 Provisions for losses 6,251 9,001 12,375 Total contract liabilities $ 133,811 $ 95,737 $ 104,260

Note 9 - Receivables, Net (Tabl

Note 9 - Receivables, Net (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	As Restated March 31, 2020 December 31, 2019 March 31, 2019 Contracts completed and in progress: Billed $ 250,683 $ 299,633 $ 200,092 Unbilled 141,514 149,696 112,892 Total contracts completed and in progress 392,197 449,329 312,984 Material sales 34,268 42,936 29,948 Other 52,645 55,526 38,380 Total gross receivables 479,110 547,791 381,312 Less: allowance for credit losses 1,392 374 327 Total net receivables $ 477,718 $ 547,417 $ 380,985

Note 10 - Fair Value Measurem_2

Note 10 - Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Fair Value Measurement at Reporting Date Using March 31, 2020 Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 58,693 $ — $ — $ 58,693 Other noncurrent assets Restricted cash 4,881 — — 4,881 Total assets $ 63,574 $ — $ — $ 63,574 Accrued and other current liabilities Interest rate swap $ — $ 8,890 $ — $ 8,890 Total liabilities $ — $ 8,890 $ — $ 8,890 December 31, 2019 Cash equivalents Money market funds $ 94,696 $ — $ — $ 94,696 Other noncurrent assets Restricted cash 5,835 — — 5,835 Total assets $ 100,531 $ — $ — $ 100,531 Accrued and other current liabilities Interest rate swap $ — $ 4,603 $ — $ 4,603 Total liabilities $ — $ 4,603 $ — $ 4,603 March 31, 2019 Cash equivalents Money market funds $ 36,159 $ — $ — $ 36,159 Other noncurrent assets Restricted cash 5,825 — — 5,825 Total assets $ 41,984 $ — $ — $ 41,984 Accrued and other current liabilities Interest rate swap $ — $ 2,530 $ — $ 2,530 Total liabilities $ — $ 2,530 $ — $ 2,530
Fair Value, by Balance Sheet Grouping [Table Text Block]	March 31, 2020 December 31, 2019 March 31, 2019 (in thousands) Fair Value Hierarchy Carrying Value Fair Value Carrying Value Fair Value Carrying Value Fair Value Assets: Held-to-maturity marketable securities (1) Level 1 $ 5,000 $ 5,006 $ 32,799 $ 32,792 $ 66,049 $ 65,556 Liabilities (including current maturities): 2.75% Convertible Notes (2),(3) Level 2 $ 195,295 $ 176,094 $ 193,696 $ 249,895 $ — $ — Credit Agreement - term loan (2) Level 3 136,875 137,194 138,750 139,042 144,375 145,206 Credit Agreement - revolving credit facility (2) Level 3 25,000 25,061 25,000 25,043 197,000 197,406 2019 Notes (2) Level 3 — — — — 40,000 41,207

Note 11 - Construction Joint _2

Note 11 - Construction Joint Ventures (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Unconsolidated Joint Ventures Assets and Liabilities [Table Text Block]	As Restated (in thousands) March 31, 2020 December 31, 2019 March 31, 2019 Assets Cash, cash equivalents and marketable securities $ 144,472 $ 179,049 $ 281,355 Other current assets (1) 821,399 972,840 847,789 Noncurrent assets 203,520 207,584 215,129 Less partners’ interest 785,876 904,565 885,901 Granite’s interest (1),(2) 383,515 454,908 458,372 Liabilities 0 Current liabilities 555,380 581,199 533,325 Less partners’ interest and adjustments (3) 289,165 243,202 249,206 Granite’s interest 266,215 337,997 284,119 Equity in construction joint ventures (4) $ 117,300 $ 116,911 $ 174,253
Schedule of Unconsolidated Joint Ventures Revenue and Costs [Table Text Block]	Three Months Ended March 31, As Restated (in thousands) 2020 2019 Revenue Total $ 62,030 $ 415,934 Less partners’ interest and adjustments (1) (21,672 ) 305,418 Granite’s interest 83,702 110,516 Cost of revenue Total 228,460 411,485 Less partners’ interest and adjustments (1) 132,743 280,427 Granite’s interest 95,717 131,058 Granite’s interest in gross loss $ (12,015 ) $ (20,542 )

Note 12 - Investments in Affi_2

Note 12 - Investments in Affiliates (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Equity Method Investments [Table Text Block]	(in thousands) March 31, 2020 December 31, 2019 March 31, 2019 Foreign $ 45,598 $ 55,335 $ 56,082 Real estate 16,651 17,229 16,433 Asphalt terminal 11,000 11,612 8,519 Total investments in affiliates $ 73,249 $ 84,176 $ 81,034
Equity Method Investment Summarized Balance Financial Information [Table Text Block]	(in thousands) March 31, 2020 December 31, 2019 March 31, 2019 Current assets $ 112,426 $ 122,348 $ 137,041 Noncurrent assets 163,452 165,331 179,377 Total assets 275,878 287,679 316,418 Current liabilities 45,617 48,322 65,848 Long-term liabilities (1) 57,182 61,078 75,949 Total liabilities 102,799 109,400 141,797 Net assets 173,079 178,279 174,621 Granite’s share of net assets $ 73,249 $ 84,176 $ 81,034

Note 13 - Property and Equipm_2

Note 13 - Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Property, Plant and Equipment [Table Text Block]	(in thousands) March 31, 2020 December 31, 2019 March 31, 2019 Equipment and vehicles $ 942,116 $ 947,687 $ 915,748 Quarry property 188,380 188,960 191,805 Land and land improvements 134,147 132,531 140,078 Buildings and leasehold improvements 124,784 122,316 108,587 Office furniture and equipment 68,327 67,991 66,176 Property and equipment 1,457,754 1,459,485 1,422,394 Less: accumulated depreciation and depletion 922,796 917,188 869,890 Property and equipment, net $ 534,958 $ 542,297 $ 552,504

Note 14 - Long-term Debt and _2

Note 14 - Long-term Debt and Credit Arrangements (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	(in thousands) March 31, 2020 December 31, 2019 March 31, 2019 2.75% Convertible Notes $ 195,295 $ 193,696 $ — Credit Agreement - term loan 136,875 138,750 144,375 Credit Agreement - revolving credit facility 25,000 25,000 197,000 2019 Notes — — 40,000 Debt issuance costs and other 6,994 6,906 (804 ) Total debt 364,164 364,352 380,571 Less current maturities 8,253 8,244 47,281 Total long-term debt $ 355,911 $ 356,108 $ 333,290

Note 15 - Leases (Tables)

Note 15 - Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Remainder of 2020 $ 15,568 2021 19,643 2022 17,502 2023 12,001 2024 7,138 2025 through 2036 13,510 Total future minimum lease payments 85,362 Less: imputed interest (9,435 ) Total $ 75,927

Note 16 - Weighted Average Sh_2

Note 16 - Weighted Average Shares Outstanding and Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, As Restated (in thousands, except per share amounts) 2020 2019 Numerator (basic and diluted) Net loss allocated to common shareholders for basic calculation $ (65,370 ) $ (62,470 ) Denominator Weighted average common shares outstanding, basic 45,520 46,699 Dilutive effect of RSUs and 2.75% Convertible Notes (1),(2) — — Weighted average common shares outstanding, diluted 45,520 46,699 Net loss per share, basic $ (1.44 ) $ (1.34 ) Net loss per share, diluted $ (1.44 ) $ (1.34 )

Note 17 - Income Taxes (Tables)

Note 17 - Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Three Months Ended March 31, As Restated (dollars in thousands) 2020 2019 Benefit from income taxes $ (14,710 ) $ (17,350 ) Effective tax rate 16.9 % 22.5 %

Note 19 - Business Segment In_2

Note 19 - Business Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended March 31, Transportation Water Specialty Materials Total 2020 Total revenue from reportable segments $ 350,901 $ 101,657 $ 133,039 $ 64,652 $ 650,249 Elimination of intersegment revenue — — — (14,322 ) (14,322 ) Revenue from external customers 350,901 101,657 133,039 50,330 635,927 Gross profit (loss) 25,369 9,347 (10,719 ) (198 ) 23,799 Depreciation, depletion and amortization 5,026 9,564 6,383 4,973 25,946 Segment assets 304,376 275,447 128,471 366,559 1,074,853 2019 (As Restated) Total revenue from reportable segments $ 301,964 $ 99,082 $ 139,124 $ 50,556 $ 590,726 Elimination of intersegment revenue — — — (8,913 ) (8,913 ) Revenue from external customers 301,964 99,082 139,124 41,643 581,813 Gross (loss) profit (16,348 ) 7,946 13,298 (3,758 ) 1,138 Depreciation, depletion and amortization 3,640 11,056 5,812 5,579 26,087 Segment assets 326,995 303,671 152,307 375,136 1,158,109
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	Three Months Ended March 31, As Restated (in thousands) 2020 2019 Total gross profit from reportable segments $ 23,799 $ 1,138 Selling, general and administrative expenses 78,381 80,155 Acquisition and integration expenses — 1,848 Non-cash impairment charges (See Note 4) 24,413 — Gain on sales of property and equipment (623 ) (1,900 ) Total other expense (income) 8,876 (1,854 ) Loss before benefit from income taxes $ (87,248 ) $ (77,111 )

Note 1 - Basis of Presentatio_2

Note 1 - Basis of Presentation - Summary of Reconciliation of Cash, Cash Equivalents, and Restricted Cash in the Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash, cash equivalents and restricted cash, beginning of period	$ 268,108	$ 278,629
Cash and cash equivalents	242,604	200,263
Restricted cash	4,881	5,825
Total cash, cash equivalents and restricted cash, end of period	247,485	206,088
Net decrease in cash, cash equivalents and restricted cash	$ (20,623)	$ (72,541)

Note 2 - Recently Issued and _2

Note 2 - Recently Issued and Adopted Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	Mar. 31, 2019
Retained Earnings (Accumulated Deficit), Ending Balance	$ 522,639		$ 594,353	$ 610,302
Accounts Receivable, Allowance for Credit Loss, Ending Balance	$ 900
Accounting Standards Update 2016-13 [Member]
Retained Earnings (Accumulated Deficit), Ending Balance		$ (500)

Note 3 - Restatement - Effects

Note 3 - Restatement - Effects of Restatement (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Cash and cash equivalents	$ 242,604	$ 200,263	$ 262,273
Short-term marketable securities	5,000	36,049	27,799
Receivables, net ($28,320, $29,564 and $24,990 related to CCJVs)	477,718	380,985	547,417
Contract assets ($17,584, $25,034 and $9,354 related to CCJVs)	226,518	213,023	211,441
Inventories	98,765	96,862	88,885
Equity in construction joint ventures	190,458	219,908	193,110
Other current assets ($16,078, $13,350 and $11,795 related to CCJVs)	60,001	62,755	46,016
Total current assets	1,301,064	1,209,845	1,376,941
Property and equipment, net ($30,047, $31,136 and $35,377 related to CCJVs)	534,958	552,504	542,297
Long-term marketable securities	0	30,000	5,000
Investments in affiliates	73,249	81,034	84,176
Goodwill	248,339	259,695	264,279
Right of use assets	72,945	71,480	72,534
Deferred income taxes, net	51,675	30,488	50,158
Other noncurrent assets	102,145	123,557	106,703
Total assets	2,384,375	2,358,603	2,502,088
Current maturities of long-term debt	8,253	47,281	8,244
Accounts payable ($58,475, $57,795 and $37,853 related to CCJVs)	312,105	216,150	400,775
Contract liabilities ($47,509, $20,994 and $46,804 related to CCJVs)	133,811	104,260	95,737
Accrued expenses and other current liabilities ($2,458, $2,415 and $3,577 related to CCJVs)	355,393	308,086	337,300
Total current liabilities	809,562	675,777	842,056
Long-term debt	355,911	333,290	356,108
Long-term lease liabilities	57,985	60,237	58,618
Deferred income taxes, net	3,318	4,913	3,754
Other long-term liabilities	57,795	59,867	63,136
Commitments and contingencies (Note 18)
Preferred stock, $0.01 par value, authorized 3,000,000 shares, none outstanding		0
Common stock, $0.01 par value, authorized 150,000,000 shares; issued and outstanding: 45,592,292 shares as of March 31, 2020, 45,503,805 shares as of December 31, 2019 and 46,812,366 shares as of March 31, 2019	457	468	456
Additional paid-in capital	551,189	566,497	549,307
Accumulated other comprehensive loss	(6,538)	(1,081)	(2,645)
Retained earnings	522,639	610,302	594,353
Total Granite Construction Incorporated shareholders’ equity	1,067,747	1,176,186	1,141,471
Non-controlling interests	32,057	48,333	36,945
Total equity	1,099,804	1,224,519	1,178,416	$ 1,289,354
Total liabilities and equity	2,384,375	2,358,603	2,502,088
Total revenue	635,927	581,813
Total cost of revenue	612,128	580,675
Gross profit (loss)	23,799	1,138
Selling, general and administrative expenses	78,381	80,155
Acquisition and integration expenses	0	1,848
Gain on sales of property and equipment	(623)	(1,900)
Operating loss	(78,372)	(78,965)
Interest income	(1,291)	(2,816)
Interest expense	4,994	4,014
Equity in income of affiliates, net	(46)	(1,290)
Other expense (income), net	5,219	(1,762)
Total other income	8,876	(1,854)
Loss before benefit from income taxes	(87,248)	(77,111)
Benefit from income taxes	(14,710)	(17,350)
Net loss	(72,538)	(59,761)	$ (59,761)
Amount attributable to non-controlling interests	7,168	(2,709)
Net loss attributable to Granite Construction Incorporated	$ (65,370)	$ (62,470)
Basic (in dollars per share)	$ (1.44)	$ (1.34)
Diluted (in dollars per share)	$ (1.44)	$ (1.34)
Basic (in shares)	45,520	46,699
Diluted (in shares)	45,520	46,699
Net loss	$ (72,538)	$ (59,761)
Depreciation, depletion and amortization	28,447	29,055
Gain on sales of property and equipment, net	(623)	(1,900)
Stock-based compensation	2,398	5,748
Equity in net loss from unconsolidated joint ventures	11,816	20,384
Net income from affiliates	(46)	(1,290)
Receivables	71,040	103,484
Contract assets, net	22,997	(33,345)
Inventories	(9,880)	(8,238)
Contributions to unconsolidated construction joint ventures	(13,767)	(26,933)
Distributions from unconsolidated construction joint ventures and affiliates	2,939	330
Other assets, net	(12,138)	(11,648)
Accounts payable	(87,979)	(40,588)
Accrued expenses and other current liabilities, net	10,333	(11,662)
Net cash used in operating activities	(20,125)	(36,364)
Transportation [Member]
Total revenue	350,901	301,964
Total cost of revenue	325,532	318,312
Water [Member]
Total revenue	101,657	99,082
Total cost of revenue	92,310	91,136
Specialty [Member]
Total revenue	133,039	139,124
Total cost of revenue	143,758	125,826
Materials [Member]
Total revenue	50,330	41,643
Total cost of revenue	$ 50,528	45,401
Previously Reported [Member]
Cash and cash equivalents		200,263
Short-term marketable securities		36,049
Receivables, net ($28,320, $29,564 and $24,990 related to CCJVs)		368,215
Contract assets ($17,584, $25,034 and $9,354 related to CCJVs)		260,250
Inventories		96,862
Equity in construction joint ventures		300,489
Other current assets ($16,078, $13,350 and $11,795 related to CCJVs)		54,590
Total current assets		1,316,718
Property and equipment, net ($30,047, $31,136 and $35,377 related to CCJVs)		552,504
Long-term marketable securities		30,000
Investments in affiliates		81,034
Goodwill		259,695
Right of use assets		71,480
Deferred income taxes, net		0
Other noncurrent assets		128,349
Total assets		2,439,780
Current maturities of long-term debt		47,281
Accounts payable ($58,475, $57,795 and $37,853 related to CCJVs)		216,966
Contract liabilities ($47,509, $20,994 and $46,804 related to CCJVs)		90,752
Accrued expenses and other current liabilities ($2,458, $2,415 and $3,577 related to CCJVs)		265,102
Total current liabilities		620,101
Long-term debt		333,290
Long-term lease liabilities		60,237
Deferred income taxes, net		0
Other long-term liabilities		64,219
Commitments and contingencies (Note 18)
Preferred stock, $0.01 par value, authorized 3,000,000 shares, none outstanding		0
Common stock, $0.01 par value, authorized 150,000,000 shares; issued and outstanding: 45,592,292 shares as of March 31, 2020, 45,503,805 shares as of December 31, 2019 and 46,812,366 shares as of March 31, 2019		468
Additional paid-in capital		566,497
Accumulated other comprehensive loss		(626)
Retained earnings		746,100
Total Granite Construction Incorporated shareholders’ equity		1,312,439
Non-controlling interests		49,494
Total equity		1,361,933
Total liabilities and equity		2,439,780
Total revenue		619,801
Total cost of revenue		579,323
Gross profit (loss)		40,478
Selling, general and administrative expenses		81,155
Acquisition and integration expenses		3,323
Gain on sales of property and equipment		(1,900)
Operating loss		(42,100)
Interest income		(2,816)
Interest expense		4,014
Equity in income of affiliates, net		(1,290)
Other expense (income), net		(1,762)
Total other income		(1,854)
Loss before benefit from income taxes		(40,246)
Benefit from income taxes		(9,165)
Net loss		(31,081)
Amount attributable to non-controlling interests		(3,493)
Net loss attributable to Granite Construction Incorporated		$ (34,574)
Basic (in dollars per share)		$ (0.74)
Diluted (in dollars per share)		$ (0.74)
Basic (in shares)		46,699
Diluted (in shares)		46,699
Net loss		$ (31,081)
Depreciation, depletion and amortization		28,846
Gain on sales of property and equipment, net		(1,900)
Stock-based compensation		5,748
Equity in net loss from unconsolidated joint ventures		(455)
Net income from affiliates		0
Receivables		105,086
Contract assets, net		(55,550)
Inventories		(8,238)
Contributions to unconsolidated construction joint ventures		(26,933)
Distributions from unconsolidated construction joint ventures and affiliates		330
Other assets, net		(4,189)
Accounts payable		(34,110)
Accrued expenses and other current liabilities, net		(13,918)
Net cash used in operating activities		(36,364)
Previously Reported [Member] | Transportation [Member]
Total revenue		338,210
Total cost of revenue		316,960
Previously Reported [Member] | Water [Member]
Total revenue		99,255
Total cost of revenue		91,136
Previously Reported [Member] | Specialty [Member]
Total revenue		140,693
Total cost of revenue		125,826
Previously Reported [Member] | Materials [Member]
Total revenue		41,643
Total cost of revenue		45,401
Revision of Prior Period, Adjustment [Member]
Cash and cash equivalents		0
Short-term marketable securities		0
Receivables, net ($28,320, $29,564 and $24,990 related to CCJVs)		10,566
Contract assets ($17,584, $25,034 and $9,354 related to CCJVs)		(45,011)
Inventories		0
Equity in construction joint ventures		(74,557)
Other current assets ($16,078, $13,350 and $11,795 related to CCJVs)		7,606
Total current assets		(101,396)
Property and equipment, net ($30,047, $31,136 and $35,377 related to CCJVs)		0
Long-term marketable securities		0
Investments in affiliates		0
Goodwill		0
Right of use assets		0
Deferred income taxes, net		26,608
Other noncurrent assets		0
Total assets		(74,788)
Current maturities of long-term debt		0
Accounts payable ($58,475, $57,795 and $37,853 related to CCJVs)		0
Contract liabilities ($47,509, $20,994 and $46,804 related to CCJVs)		14,561
Accrued expenses and other current liabilities ($2,458, $2,415 and $3,577 related to CCJVs)		43,035
Total current liabilities		57,596
Long-term debt		0
Long-term lease liabilities		0
Deferred income taxes, net		0
Other long-term liabilities		0
Commitments and contingencies (Note 18)
Preferred stock, $0.01 par value, authorized 3,000,000 shares, none outstanding		0
Common stock, $0.01 par value, authorized 150,000,000 shares; issued and outstanding: 45,592,292 shares as of March 31, 2020, 45,503,805 shares as of December 31, 2019 and 46,812,366 shares as of March 31, 2019		0
Additional paid-in capital		0
Accumulated other comprehensive loss		0
Retained earnings		(132,325)
Total Granite Construction Incorporated shareholders’ equity		(132,325)
Non-controlling interests		(59)
Total equity		(132,384)
Total liabilities and equity		(74,788)
Total revenue		(28,192)
Total cost of revenue		6,208
Gross profit (loss)		(34,400)
Selling, general and administrative expenses		0
Acquisition and integration expenses		0
Gain on sales of property and equipment		0
Operating loss		(34,400)
Interest income		0
Interest expense		0
Equity in income of affiliates, net		0
Other expense (income), net		0
Total other income		0
Loss before benefit from income taxes		(34,400)
Benefit from income taxes		(7,627)
Net loss		(26,773)
Amount attributable to non-controlling interests		59
Net loss attributable to Granite Construction Incorporated		$ (26,714)
Basic (in dollars per share)		$ (0.57)
Diluted (in dollars per share)		$ (0.57)
Basic (in shares)		46,699
Diluted (in shares)		46,699
Net loss		$ (26,773)
Depreciation, depletion and amortization		0
Gain on sales of property and equipment, net		0
Stock-based compensation		0
Equity in net loss from unconsolidated joint ventures		17,879
Net income from affiliates		0
Receivables		0
Contract assets, net		16,479
Inventories		0
Contributions to unconsolidated construction joint ventures		0
Distributions from unconsolidated construction joint ventures and affiliates		0
Other assets, net		(7,585)
Accounts payable		0
Accrued expenses and other current liabilities, net		0
Net cash used in operating activities		0
Revision of Prior Period, Adjustment [Member] | Transportation [Member]
Total revenue		(28,022)
Revision of Prior Period, Adjustment [Member] | Transportation [Member] | Accounting Standards Update 2016-02 [Member]
Total cost of revenue		6,208
Revision of Prior Period, Adjustment [Member] | Water [Member]
Total revenue		(170)
Total cost of revenue		0
Revision of Prior Period, Adjustment [Member] | Specialty [Member]
Total revenue		0
Total cost of revenue		0
Revision of Prior Period, Adjustment [Member] | Materials [Member]
Total revenue		0
Total cost of revenue		0
Other Adjustments [Member]
Cash and cash equivalents		0
Short-term marketable securities		0
Receivables, net ($28,320, $29,564 and $24,990 related to CCJVs)		2,204
Contract assets ($17,584, $25,034 and $9,354 related to CCJVs)		(2,216)
Inventories		0
Equity in construction joint ventures		(6,024)
Other current assets ($16,078, $13,350 and $11,795 related to CCJVs)		559
Total current assets		(5,477)
Property and equipment, net ($30,047, $31,136 and $35,377 related to CCJVs)		0
Long-term marketable securities		0
Investments in affiliates		0
Goodwill		0
Right of use assets		0
Deferred income taxes, net		3,880
Other noncurrent assets		(4,792)
Total assets		(6,389)
Current maturities of long-term debt		0
Accounts payable ($58,475, $57,795 and $37,853 related to CCJVs)		(816)
Contract liabilities ($47,509, $20,994 and $46,804 related to CCJVs)		(1,053)
Accrued expenses and other current liabilities ($2,458, $2,415 and $3,577 related to CCJVs)		(51)
Total current liabilities		(1,920)
Long-term debt		0
Long-term lease liabilities		0
Deferred income taxes, net		4,913
Other long-term liabilities		(4,352)
Commitments and contingencies (Note 18)
Preferred stock, $0.01 par value, authorized 3,000,000 shares, none outstanding		0
Common stock, $0.01 par value, authorized 150,000,000 shares; issued and outstanding: 45,592,292 shares as of March 31, 2020, 45,503,805 shares as of December 31, 2019 and 46,812,366 shares as of March 31, 2019		0
Additional paid-in capital		0
Accumulated other comprehensive loss		(455)
Retained earnings		(3,473)
Total Granite Construction Incorporated shareholders’ equity		(3,928)
Non-controlling interests		(1,102)
Total equity		(5,030)
Total liabilities and equity		(6,389)
Total revenue		(9,796)
Total cost of revenue		(4,856)
Gross profit (loss)		(4,940)
Selling, general and administrative expenses		(1,000)
Acquisition and integration expenses		(1,475)
Gain on sales of property and equipment		0
Operating loss		(2,465)
Interest income		0
Interest expense		0
Equity in income of affiliates, net		0
Other expense (income), net		0
Total other income		0
Loss before benefit from income taxes		(2,465)
Benefit from income taxes		(558)
Net loss		(1,907)
Amount attributable to non-controlling interests		725
Net loss attributable to Granite Construction Incorporated		$ (1,182)
Basic (in dollars per share)		$ (0.03)
Diluted (in dollars per share)		$ (0.03)
Basic (in shares)		46,699
Diluted (in shares)		46,699
Net loss		$ (1,907)
Depreciation, depletion and amortization		209
Gain on sales of property and equipment, net		0
Stock-based compensation		0
Equity in net loss from unconsolidated joint ventures		2,960
Net income from affiliates		(1,290)
Receivables		(1,602)
Contract assets, net		5,726
Inventories		0
Contributions to unconsolidated construction joint ventures		0
Distributions from unconsolidated construction joint ventures and affiliates		0
Other assets, net		126
Accounts payable		(6,478)
Accrued expenses and other current liabilities, net		2,256
Net cash used in operating activities		0
Other Adjustments [Member] | Transportation [Member]
Total revenue		(8,224)
Total cost of revenue		(4,856)
Other Adjustments [Member] | Water [Member]
Total revenue		(3)
Total cost of revenue		0
Other Adjustments [Member] | Specialty [Member]
Total revenue		(1,569)
Total cost of revenue		0
Other Adjustments [Member] | Materials [Member]
Total revenue		0
Total cost of revenue		$ 0

Note 3 - Restatement - Effect_2

Note 3 - Restatement - Effects of Restatement (Details) (Parentheticals) - $ / shares	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	3,000,000	3,000,000	3,000,000
Preferred stock, outstanding (in shares)	0	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000	150,000,000
Common stock, shares issued (in shares)	45,592,292	45,503,805	46,812,366
Common stock, shares outstanding (in shares)	45,592,292	45,503,805	46,812,366

Note 4 - Impairment Charges (De

Note 4 - Impairment Charges (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Goodwill, Impairment Loss		$ 24,413	$ 0
Equity Method Investment, Other than Temporary Impairment		9,600
Equity Method Investments		73,249	$ 81,034	$ 84,176
Water and Mineral Services Group Materials [Member]
Goodwill, Impairment Loss		14,800
Water and Mineral Services Group Materials [Member] | Subsequent Event [Member]
Goodwill, Impairment Loss	$ 14,400
Water and Minerals Services Group Specialty [Member]
Goodwill, Impairment Loss		$ 0
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount		15.00%
Water and Mineral Services Group Water [Member] | Subsequent Event [Member]
Goodwill, Impairment Loss	117,900
Midwest Group Specialty [Member] | Subsequent Event [Member]
Goodwill, Impairment Loss	$ 0
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	15.00%

Note 5 - Revisions in Estimat_3

Note 5 - Revisions in Estimates (Details Textual) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Gross Profit, Total	$ 23,799	$ 1,138
Estimated Cost Recovery of Customer Affirmative Claims and Back Charges [Member]
Gross Profit, Total			$ 5,000	$ 5,000

Note 5 - Revisions in Estimat_4

Note 5 - Revisions in Estimates - Summary of Impact of Revisions in Estimates to Gross Profit (Details) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020USD ($)$ / shares	Mar. 31, 2019USD ($)$ / shares	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Range of reduction in gross profit from each project, net	$ (23,799)	$ (1,138)
Decrease to project profitability	87,248	77,111
Net loss	$ (72,538)	$ (59,761)	$ (59,761)
Diluted (in dollars per share) | $ / shares	$ (1.44)	$ (1.34)
Estimated Cost Recovery of Customer Affirmative Claims and Back Charges [Member]
Number of projects with downward estimate changes	2	2
Range of reduction in gross profit from each project, net			$ (5,000)	$ (5,000)
Decrease to project profitability	$ 28,500	$ 38,100
Net loss	$ 21,600	$ 29,400
Diluted (in dollars per share) | $ / shares	$ 0.47	$ 0.63
Estimated Cost Recovery of Customer Affirmative Claims and Back Charges [Member] | Minimum [Member]
Range of reduction in gross profit from each project, net	$ 5,800	$ 17,300
Estimated Cost Recovery of Customer Affirmative Claims and Back Charges [Member] | Maximum [Member]
Range of reduction in gross profit from each project, net	$ 22,700	$ 20,800

Note 6 - Disaggregation of Re_3

Note 6 - Disaggregation of Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue	$ 635,927	$ 581,813
Water and Mineral Services [Member]
Revenue	105,065	120,832
Transportation [Member]
Revenue	350,901	301,964
Transportation [Member] | Water and Mineral Services [Member]
Revenue	0	0
Water [Member]
Revenue	101,657	99,082
Water [Member] | Water and Mineral Services [Member]
Revenue	87,005	91,532
Specialty [Member]
Revenue	133,039	139,124
Specialty [Member] | Water and Mineral Services [Member]
Revenue	15,450	25,254
Materials [Member]
Revenue	50,330	41,643
Materials [Member] | Water and Mineral Services [Member]
Revenue	2,610	4,046
California 1[Member]
Revenue	178,199	126,099
California 1[Member] | Transportation [Member]
Revenue	94,932	69,513
California 1[Member] | Water [Member]
Revenue	5,512	1,366
California 1[Member] | Specialty [Member]
Revenue	44,488	32,155
California 1[Member] | Materials [Member]
Revenue	33,267	23,065
Federal [Member]
Revenue	27,270	15,737
Federal [Member] | Transportation [Member]
Revenue	398	27
Federal [Member] | Water [Member]
Revenue	381	508
Federal [Member] | Specialty [Member]
Revenue	26,491	15,202
Federal [Member] | Materials [Member]
Revenue	0	0
Heavy Civil [Member]
Revenue	178,022	164,103
Heavy Civil [Member] | Transportation [Member]
Revenue	167,426	159,742
Heavy Civil [Member] | Water [Member]
Revenue	7,102	4,361
Heavy Civil [Member] | Specialty [Member]
Revenue	3,494	0
Heavy Civil [Member] | Materials [Member]
Revenue	0	0
Midwest [Member]
Revenue	35,746	52,466
Midwest [Member] | Transportation [Member]
Revenue	24,243	18,061
Midwest [Member] | Water [Member]
Revenue	0	84
Midwest [Member] | Specialty [Member]
Revenue	11,503	34,321
Midwest [Member] | Materials [Member]
Revenue	0	0
Northwest [Member]
Revenue	111,625	102,576
Northwest [Member] | Transportation [Member]
Revenue	63,902	54,621
Northwest [Member] | Water [Member]
Revenue	1,657	1,231
Northwest [Member] | Specialty [Member]
Revenue	31,613	32,192
Northwest [Member] | Materials [Member]
Revenue	$ 14,453	$ 14,532

Note 7 - Unearned Revenue - Sch

Note 7 - Unearned Revenue - Schedule of Unearned Revenue (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Unearned Revenue	$ 3,600,028	$ 3,717,228	$ 2,997,499
Water and Mineral Services [Member]
Unearned Revenue	143,539	152,141	193,915
California 1[Member]
Unearned Revenue	674,113	645,610	478,494
Federal [Member]
Unearned Revenue	150,678	168,743	136,448
Heavy Civil [Member]
Unearned Revenue	1,603,014	1,770,742	1,440,736
Midwest [Member]
Unearned Revenue	349,483	366,721	312,608
Northwest [Member]
Unearned Revenue	679,201	613,271	435,298
Transportation [Member]
Unearned Revenue	2,691,091	2,798,056	2,316,675
Transportation [Member] | Water and Mineral Services [Member]
Unearned Revenue	0	0	0
Transportation [Member] | California 1[Member]
Unearned Revenue	527,971	525,641	402,112
Transportation [Member] | Federal [Member]
Unearned Revenue	18,152	14,139	126
Transportation [Member] | Heavy Civil [Member]
Unearned Revenue	1,321,443	1,480,367	1,423,909
Transportation [Member] | Midwest [Member]
Unearned Revenue	208,872	230,889	128,867
Transportation [Member] | Northwest [Member]
Unearned Revenue	614,653	547,020	361,661
Water [Member]
Unearned Revenue	241,161	224,875	221,675
Water [Member] | Water and Mineral Services [Member]
Unearned Revenue	143,539	152,141	193,915
Water [Member] | California 1[Member]
Unearned Revenue	52,136	19,950	7,314
Water [Member] | Federal [Member]
Unearned Revenue	957	1,041	1,717
Water [Member] | Heavy Civil [Member]
Unearned Revenue	41,511	47,046	16,827
Water [Member] | Midwest [Member]
Unearned Revenue	150	152	143
Water [Member] | Northwest [Member]
Unearned Revenue	2,868	4,545	1,759
Specialty [Member]
Unearned Revenue	667,776	694,297	459,149
Specialty [Member] | Water and Mineral Services [Member]
Unearned Revenue	0	0	0
Specialty [Member] | California 1[Member]
Unearned Revenue	94,006	100,019	69,068
Specialty [Member] | Federal [Member]
Unearned Revenue	131,569	153,563	134,605
Specialty [Member] | Heavy Civil [Member]
Unearned Revenue	240,060	243,329	0
Specialty [Member] | Midwest [Member]
Unearned Revenue	140,461	135,680	183,598
Specialty [Member] | Northwest [Member]
Unearned Revenue	$ 61,680	$ 61,706	$ 71,878

Note 8 - Contract Assets and _3

Note 8 - Contract Assets and Liabilities (Details Textual) - USD ($) $ in Millions	3 Months Ended		13 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Jan. 25, 2020	Dec. 31, 2019	Dec. 31, 2018
Contract with Customer, Liability, Revenue Recognized	$ 95.8		$ 97.1
Aggregate Affirmative Claim Recovery Estimate Included in Contract Asset and Liability	76.5			$ 71.1	$ 42.8
Performance Obligations [Member]
Contract with Customer, Liability, Cumulative Catch-up Adjustment to Revenue, Change in Estimate of Transaction Price	$ 43.9	$ 38.9

Note 8 - Contract Assets and _4

Note 8 - Contract Assets and Liabilities - Component of Contract Asset and Liability Balances (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Costs in excess of billings and estimated earnings	$ 114,378	$ 100,761	$ 137,689
Contract retention	112,140	110,680	75,334
Total contract assets	226,518	211,441	213,023
Billings in excess of costs and estimated earnings, net of retention	127,560	86,736	91,885
Provisions for losses	6,251	9,001	12,375
Total contract liabilities	$ 133,811	$ 95,737	$ 104,260

Note 9 - Receivables, Net - Sch

Note 9 - Receivables, Net - Schedule of Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Gross receivables	$ 479,110	$ 547,791	$ 381,312
Less: allowance for credit losses	1,392	374	327
Total net receivables	477,718	547,417	380,985
Completed and in Progress [Member]
Billed	250,683	299,633	200,092
Unbilled	141,514	149,696	112,892
Gross receivables	392,197	449,329	312,984
Material Sales [Member]
Gross receivables	34,268	42,936	29,948
Other Business Products and Services [Member]
Gross receivables	$ 52,645	$ 55,526	$ 38,380

Note 10 - Fair Value Measurem_3

Note 10 - Fair Value Measurement (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Nov. 30, 2019
Derivative Liability, Notional Amount	$ 150
The 2.75% Convertible Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage		2.75%	2.75%
Debt Instrument, Convertible, Carrying Amount of Equity Component	$ 34.7	$ 36.3
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.76%

Note 10 - Fair Value Measurem_4

Note 10 - Fair Value Measurement - Cash and Cash Equivalents (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Total assets	$ 63,574	$ 100,531	$ 41,984
Interest rate swap	8,890	4,603	2,530
Total liabilities	8,890	4,603	2,530
Fair Value, Inputs, Level 1 [Member]
Total assets	63,574	100,531	41,984
Interest rate swap	0	0	0
Total liabilities	0	0	0
Fair Value, Inputs, Level 2 [Member]
Total assets	0	0	0
Interest rate swap	8,890	4,603	2,530
Total liabilities	8,890	4,603	2,530
Fair Value, Inputs, Level 3 [Member]
Total assets	0	0	0
Interest rate swap	0	0	0
Total liabilities	0	0	0
Money Market Funds [Member]
Cash equivalents	58,693	94,696	36,159
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Cash equivalents	58,693	94,696	36,159
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Cash equivalents	0	0	0
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Cash equivalents	0	0	0
Restricted Cash [Member]
Other noncurrent assets	4,881	5,835	5,825
Restricted Cash [Member] | Fair Value, Inputs, Level 1 [Member]
Other noncurrent assets	4,881	5,835	5,825
Restricted Cash [Member] | Fair Value, Inputs, Level 2 [Member]
Other noncurrent assets	0	0	0
Restricted Cash [Member] | Fair Value, Inputs, Level 3 [Member]
Other noncurrent assets	$ 0	$ 0	$ 0

Note 10 - Fair Value Measurem_5

Note 10 - Fair Value Measurement - Schedule of Carrying and Fair Value Amounts (Details) - USD ($) $ in Thousands		Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Held-to-maturity marketable securities (1)	[1]	$ 5,000	$ 32,799	$ 66,049
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
2.75% Convertible Notes	[2],[3]	195,295	193,696	0
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Revolving Credit Facility [Member]
Credit Agreement - revolving credit facility	[3]	25,000	25,000	197,000
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Term Loan [Member]
Notes	[3]	136,875	138,750	144,375
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | The 2019 Notes [Member]
Notes	[3]	0	0	40,000
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Held-to-maturity marketable securities (1)	[1]	5,006	32,792	65,556
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
2.75% Convertible Notes	[2],[3]	176,094	249,895	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Revolving Credit Facility [Member]
Credit Agreement - revolving credit facility	[3]	25,061	25,043	197,406
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Term Loan [Member]
Notes	[3]	137,194	139,042	145,206
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | The 2019 Notes [Member]
Notes	[3]	$ 0	$ 0	$ 41,207
[1]	All marketable securities were classified as held-to-maturity and consisted of U.S. Government and agency obligations as of March 31, 2020 and December 31, 2019, and included corporate bonds as of March 31, 2019.
[2]	Excluded from the carrying value is $34.7 million and $36.3 million of debt discount as of March 31, 2020 and December 31, 2019, respectively, related to the 2.75% Convertible Notes (see Note 14).
[3]	The fair values of the 2019 Notes, Credit Agreement term loan and revolving credit facility are based on borrowing rates available to us for long-term loans with similar terms, average maturities, and credit risk. The fair value of the 2.75% Convertible Notes is based on the median price of the notes in an active market as of March 31, 2020 and December 31, 2019. See Note 14 for definitions of, and more information about, the 2019 Notes, Credit Agreement and 2.75% Convertible Notes.

Note 11 - Construction Joint _3

Note 11 - Construction Joint Ventures (Details Textual) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Contract with Customer, Liability, Total	$ 133,811	$ 104,260	$ 95,737
Contract Value of Active Construction Joint Venture Projects	3,300,000
Revenue from Contract with Customer, Including Assessed Tax	635,927	581,813
Retained Earnings (Accumulated Deficit), Ending Balance	522,639	610,302	594,353
Net Income (Loss) Attributable to Parent, Total	(65,370)	(62,470)
Unconsolidated Construction Joint Venture Net Income (Loss)	(11,816)	(20,384)
Unconsolidated Construction Corporate Joint Venture [Member]
Contract with Customer, Liability, Total	$ 671,400
Number of Active Joint Venture Projects	9
Contract Value of Active Construction Joint Venture Projects	$ 11,400,000
Affirmative Claim Recovery Estimate	117,100	96,200	116,800
Back Charge Claims	18,200	17,900	15,900
Retained Earnings (Accumulated Deficit), Ending Balance	73,200	45,700	$ 76,200
Net Income (Loss) Attributable to Parent, Total	(166,000)	5,200
Unconsolidated Construction Joint Venture Net Income (Loss)	(11,800)	(20,300)
Unconsolidated Construction Corporate Joint Venture [Member] | Minimum [Member]
Contract with Customer, Liability, Total	1,200
Contract Value of Active Construction Joint Venture Projects	$ 11,600
Equity Method Investment, Ownership Percentage	20.00%
Unconsolidated Construction Corporate Joint Venture [Member] | Maximum [Member]
Contract with Customer, Liability, Total	$ 192,200
Contract Value of Active Construction Joint Venture Projects	$ 3,800,000
Equity Method Investment, Ownership Percentage	50.00%
Unconsolidated Construction Corporate Joint Venture [Member] | Performance Guarantee [Member]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 822,400
Guarantor Obligations, Current Carrying Value	81,900	88,200
Unconsolidated Construction Corporate Joint Venture [Member] | Construction [Member]
Contract with Customer, Liability, Total	2,300,000
Co-venturer [Member] | Performance Guarantee [Member]
Guarantor Obligations, Maximum Exposure, Undiscounted	1,500,000
Consolidated Construction Corporate Joint Venture [Member]
Contract Value of Active Construction Joint Venture Projects	919,700
Consolidated Construction Corporate Joint Venture [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Contract with Customer, Liability, Total	$ 499,200
Number of Active Joint Venture Projects	7
Contract Value of Active Construction Joint Venture Projects	$ 1,600,000
Revenue from Contract with Customer, Including Assessed Tax	54,700	63,000
Net Cash Provided by (Used in) Continuing Operations, Total	17,100	3,100
Consolidated Construction Corporate Joint Venture [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Minimum [Member]
Contract with Customer, Liability, Total	200
Contract Value of Active Construction Joint Venture Projects	$ 700
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	50.00%
Consolidated Construction Corporate Joint Venture [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Maximum [Member]
Contract with Customer, Liability, Total	$ 203,200
Contract Value of Active Construction Joint Venture Projects	$ 410,500
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	65.00%
Line Item Joint Venture [Member]
Number of Active Joint Venture Projects	4
Unconsolidated Construction Joint Venture Net Income (Loss)	$ 327,800
Line Item Joint Venture [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Contract with Customer, Liability, Total	151,000
Contract Value of Active Construction Joint Venture Projects	181,900
Revenue from Contract with Customer, Including Assessed Tax	$ 12,800	$ 400

Note 11 - Construction Joint _4

Note 11 - Construction Joint Ventures - Unconsolidated Construction Joint Ventures Financial Information (Details) - USD ($) $ in Thousands		Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Cash, cash equivalents and marketable securities		$ 144,472	$ 179,049	$ 281,355
Other current assets	[1]	821,399	972,840	847,789
Noncurrent assets		203,520	207,584	215,129
Current liabilities		555,380	581,199	533,325
Equity in construction joint ventures	[2]	117,300	116,911	174,253
Other Partners Interest in Partnerships [Member]
Unconsolidated construction joint venture assets		785,876	904,565	885,901
Unconsolidated construction joint venture liabilities	[3]	289,165	243,202	249,206
Reporting Entitys Interest in Joint Venture [Member]
Unconsolidated construction joint venture assets	[1],[4]	383,515	454,908	458,372
Unconsolidated construction joint venture liabilities		$ 266,215	$ 337,997	$ 284,119
[1]	Included in this balance and in accrued expenses and other current liabilities on the condensed consolidated balance sheets was $81.9 million related to performance guarantees as of both March 31, 2020 and December 31, 2019 and $88.2 million as of March 31, 2019.
[2]	Included in this balance and in accrued expenses and other current liabilities on our condensed consolidated balance sheets was $ 73.2 million, $ 76.2 million and $ 45.7 million, respectively, related to deficits in unconsolidated construction joint ventures, which includes provisions for losses, as of March 31, 2020, December 31, 2019 and March 31, 2019.
[3]	Partners' interest and adjustments includes amounts to reconcile total net assets as reported by our partners to Granite's interest adjusted to reflect our accounting policies and estimates primarily related to contract forecast differences.
[4]	Included in this balance as of March 31, 2020, December 31, 2019 and March 31, 2019 was $117.1 million, $116.8 million and $96.2 million, respectively, related to Granite’s share of estimated cost recovery of customer affirmative claims. In addition, this balance included $18.2 million, $15.9 million and $17.9 million related to Granite’s share of estimated recovery of back charge claims as of March 31, 2020, December 31, 2019 and March 31, 2019, respectively.

Note 11 - Construction Joint _5

Note 11 - Construction Joint Ventures - Schedule of Unconsolidated Construction Joint Ventures Revenue and Costs (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Cost of revenue		$ 612,128	$ 580,675
Collaborative Arrangement [Member]
Revenue		83,702	110,516
Cost of revenue		95,717	131,058
Granite’s interest in gross loss		(12,015)	(20,542)
Collaborative Arrangement [Member] | Corporate Joint Venture [Member]
Revenue		62,030	415,934
Cost of revenue		228,460	411,485
Collaborative Arrangement [Member] | Co-venturer [Member] | Other Partners Interest in Partnerships [Member]
Revenue	[1]	(21,672)	305,418
Cost of revenue	[1]	$ 132,743	$ 280,427
[1]	Partners' interest and adjustments includes amounts to reconcile total revenue and total cost of revenue as reported by our partners to Granite's interest adjusted to reflect our accounting policies and estimates primarily related to contract forecast differences.

Note 12 - Investments in Affi_3

Note 12 - Investments in Affiliates (Details Textual) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)
Assets, Total	$ 2,384,375	$ 2,502,088	$ 2,358,603
Equity Method Investment, Other than Temporary Impairment	$ 9,600
Foreign Affiliates [Member]
Number of Entities	13
Equity Method Investment, Other than Temporary Impairment	$ 9,600
Foreign Affiliates [Member] | Minimum [Member]
Equity Method Investment, Ownership Percentage	25.00%
Foreign Affiliates [Member] | Maximum [Member]
Equity Method Investment, Ownership Percentage	50.00%
Real Estate Entities [Member]
Number of Entities	3
Real Estate Entities [Member] | Minimum [Member]
Equity Method Investment, Ownership Percentage	18.00%
Real Estate Entities [Member] | Maximum [Member]
Equity Method Investment, Ownership Percentage	47.00%
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Assets, Total	$ 275,878	287,679	316,418
Foreign Affiliates [Member] | Minimum [Member]
Assets, Total	200
Foreign Affiliates [Member] | Maximum [Member]
Assets, Total	62,500
Real Estate Entities [Member]
Assets, Total	13,300	$ 13,600	$ 13,100
Real Estate Entities [Member] | Minimum [Member]
Assets, Total	8,200
Real Estate Entities [Member] | Maximum [Member]
Assets, Total	33,600
Asphalt Terminal Entity [Member]
Assets, Total	$ 25,900

Note 12 - Investments in Affi_4

Note 12 - Investments in Affiliates - Equity Method Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Total investments in affiliates	$ 73,249	$ 84,176	$ 81,034
Foreign Affiliates [Member]
Total investments in affiliates	45,598	55,335	56,082
Real Estate Entities [Member]
Total investments in affiliates	16,651	17,229	16,433
Asphalt Terminal Entity [Member]
Total investments in affiliates	$ 11,000	$ 11,612	$ 8,519

Note 12 - Investments in Affi_5

Note 12 - Investments in Affiliates - Summarized Balance Sheet Information for Equity Method Investments (Details) - USD ($) $ in Thousands		Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Current assets		$ 1,301,064	$ 1,376,941	$ 1,209,845
Total assets		2,384,375	2,502,088	2,358,603
Current liabilities		809,562	842,056	675,777
Granite’s share of net assets		73,249	84,176	81,034
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Current assets		112,426	122,348	137,041
Noncurrent assets		163,452	165,331	179,377
Total assets		275,878	287,679	316,418
Current liabilities		45,617	48,322	65,848
Long-term liabilities (1)	[1]	57,182	61,078	75,949
Total liabilities		102,799	109,400	141,797
Net assets		173,079	178,279	174,621
Granite’s share of net assets		$ 73,249	$ 84,176	$ 81,034
[1]	The balance primarily related to local bank debt for equipment purchases and working capital in our foreign affiliates and debt associated with our real estate investments.

Note 13 - Property and Equipm_3

Note 13 - Property and Equipment, Net - Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Property and equipment, gross	$ 1,457,754	$ 1,459,485	$ 1,422,394
Less: accumulated depreciation and depletion	922,796	917,188	869,890
Property and equipment, net	534,958	542,297	552,504
Equipment and Vehicles [Member]
Property and equipment, gross	942,116	947,687	915,748
Mining Properties and Mineral Rights [Member]
Property and equipment, gross	188,380	188,960	191,805
Land and Land Improvements [Member]
Property and equipment, gross	134,147	132,531	140,078
Building and Building Improvements [Member]
Property and equipment, gross	124,784	122,316	108,587
Furniture and Fixtures [Member]
Property and equipment, gross	$ 68,327	$ 67,991	$ 66,176

Note 14 - Long-term Debt and _3

Note 14 - Long-term Debt and Credit Arrangements (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 26, 2020	Mar. 25, 2020	Dec. 31, 2019	Nov. 30, 2019	Jul. 29, 2019	Mar. 31, 2019	May 31, 2018
Long-Term Debt, Maturity, Year One	$ 6,300
Long-term Debt, Maturities, Repayments of Principal in Year Two	8,500
Long-term Debt, Maturities, Repayments of Principal in Year Three	8,500
Long-term Debt, Maturities, Repayments of Principal in Year Four	142,300
Long-term Debt, Maturities, Repayments of Principal in Year Five	231,100
Long-term Debt, Maturities, Repayments of Principal after Year Five	7,900
Long-term Debt, Current Maturities, Total	8,253			$ 8,244			$ 47,281
Long-term Debt, Excluding Current Maturities, Total	355,911			356,108			333,290
Additional Paid-in Capital [Member] | Warrants Issued With 2.75% Convertible Notes [Member]
Warrants and Rights Outstanding	11,200			11,200
Additional Paid-in Capital [Member] | Hedge Option [Member]
Derivative Liability, Total	$ 27,900			27,900
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.76%
The 2.75% Convertible Notes [Member]
Debt Instrument, Convertible, Carrying Amount of Equity Component	$ 34,700			$ 36,300
Debt Instrument, Face Amount					$ 230,000
Debt Instrument, Interest Rate, Stated Percentage				2.75%	2.75%
Long-term Debt, Gross	195,300			$ 193,700
The Credit Agreement [Member]
Letters of Credit Outstanding, Amount	$ 31,200
Consolidated Leverage Ratio, Actual	1.97
Consolidated Leverage Ratio, Covenant Maximum	3.25
Consolidated Interest Coverage Ratio, Actual	9.02
Debt Instrument, Covenant, Minimum Consolidated Interest Coverage Ratio	4
The Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	3.00%
Debt Instrument, Interest Rate, Effective Percentage	4.45%
The Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.75%
The Credit Agreement [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	2.00%
Debt Instrument, Interest Rate, Effective Percentage	5.25%
The Credit Agreement [Member] | Line of Credit [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 275,000	$ 350,000
Line of Credit Facility, Remaining Borrowing Capacity	$ 218,800
Long-term Line of Credit, Total	25,000
The Credit Agreement [Member] | Term Loan [Member]
Debt Instrument, Periodic Payment, Principal Balance Percentage								1.25%
Debt Instrument, Face Amount								$ 150,000
Long-term Debt, Current Maturities, Total	7,500			7,500			7,500
Long-term Debt, Excluding Current Maturities, Total	$ 129,400			$ 131,300			136,900
The 2019 Notes [Member] | Senior Notes [Member]
Debt Instrument, Face Amount						$ 40,000	$ 40,000
Debt Instrument, Interest Rate, Stated Percentage							6.11%

Note 14 - Long-term Debt and _4

Note 14 - Long-term Debt and Credit Arrangements - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Total debt	$ 364,164	$ 364,352	$ 380,571
Debt issuance costs and other	6,994	6,906	(804)
Long-term Debt, Current Maturities, Total	8,253	8,244	47,281
Long-term Debt, Excluding Current Maturities, Total	355,911	356,108	333,290
Convertible Debt [Member] | The 2.75% Convertible Notes [Member]
Total debt	195,295	193,696	0
Term Loan [Member] | The Credit Agreement [Member]
Total debt	136,875	138,750	144,375
Long-term Debt, Current Maturities, Total	7,500	7,500	7,500
Long-term Debt, Excluding Current Maturities, Total	129,400	131,300	136,900
Line of Credit [Member] | The Credit Agreement [Member] | Revolving Credit Facility [Member]
Total debt	25,000	25,000	197,000
Senior Notes [Member] | The 2019 Notes [Member]
Total debt	$ 0	$ 0	$ 40,000

Note 14 - Long-term Debt and _5

Note 14 - Long-term Debt and Credit Arrangements - Schedule of Long-term Debt (Details) (Parentheticals)	Dec. 31, 2019	Nov. 30, 2019
The 2.75% Convertible Notes [Member]
Interest rate	2.75%	2.75%

Note 15 - Leases (Details Textu

Note 15 - Leases (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Operating Lease, Right-of-Use Asset	$ 72,945	$ 71,480	$ 72,534
Operating Lease, Liability, Noncurrent	57,985	60,237	$ 58,618
Operating Lease, Expense	$ 5,200	$ 4,300
Operating Lease, Weighted Average Remaining Lease Term (Year)	5 years 7 months 6 days	6 years 7 months 6 days	5 years 9 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	3.94%	4.13%	3.97%
ROU Assets [Member]
Operating Lease, Right-of-Use Asset	$ 17,900	$ 17,900	$ 17,900
Other Current Liabilities [Member]
Operating Lease, Liability, Current	17,000	17,000	17,000
Long-term Lease Liabilities [Member]
Operating Lease, Liability, Noncurrent	$ 14,300	$ 14,300	$ 14,300
Maximum [Member]
Lessee, Operating Lease, Term of Contract (Year)	23 years

Note 15 - Leases - Schedule of

Note 15 - Leases - Schedule of Undiscounted Lease Liabilities Outstanding (Details) $ in Thousands	Mar. 31, 2020USD ($)
Remainder of 2020	$ 15,568
2021	19,643
2022	17,502
2023	12,001
2024	7,138
2025 through 2036	13,510
Total future minimum lease payments	85,362
Less: imputed interest	(9,435)
Total	$ 75,927

Note 16 - Weighted Average Sh_3

Note 16 - Weighted Average Shares Outstanding and Net Loss Per Share (Details Textual) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Nov. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	443,000	422,000
Share Price, Potential Dilutive Effect (in dollars per share)	$ 31.47
The 2.75% Convertible Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage			2.75%	2.75%

Note 16 - Weighted Average Sh_4

Note 16 - Weighted Average Shares Outstanding and Net Loss Per Share - Reconciliation of the Weighted Average Shares Outstanding in Basic and Diluted Net Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Net loss attributable to Granite Construction Incorporated		$ (65,370)	$ (62,470)
Weighted average common shares outstanding, basic (in shares)		45,520	46,699
Dilutive effect of RSUs and convertible notes (in shares)	[1],[2]	0	0
Weighted average common shares outstanding, diluted (in shares)		45,520	46,699
Net loss per share, basic (in dollars per share)		$ (1.44)	$ (1.34)
Net loss per share, diluted (in dollars per share)		$ (1.44)	$ (1.34)
[1]	As the average price of our common stock since the issuance date of the 2.75% Convertible Notes was below $31.47 per share, the number of shares used in calculating diluted net loss per share for the three months ended March 31, 2020 excluded the potential dilution from the 2.75% Convertible Notes converting into shares of common stock.
[2]	Due to the net loss for the three months ended March 31, 2020 and 2019, RSUs representing approximately 443,000 and 422,000 shares, respectively, have been excluded from the number of shares used in calculating diluted net loss per share, as their inclusion would be antidilutive.

Note 17 - Income Taxes (Details

Note 17 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Effective Income Tax Rate Reconciliation, Percent, Total	16.90%	22.50%
Discrete Income Tax Expense (Benefit)	$ 0

Note 17 - Income Taxes - Schedu

Note 17 - Income Taxes - Schedule of (Benefit from) Provision for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Benefit from income taxes	$ (14,710)	$ (17,350)
Effective tax rate	16.90%	22.50%

Note 19 - Business Segment In_3

Note 19 - Business Segment Information - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Total revenue	$ 635,927	$ 581,813
Gross profit (loss)	23,799	1,138
Segment assets	2,384,375	2,358,603	$ 2,502,088
Transportation [Member]
Total revenue	350,901	301,964
Gross profit (loss)	25,369	(16,348)
Depreciation, depletion and amortization	5,026	3,640
Water [Member]
Total revenue	101,657	99,082
Gross profit (loss)	9,347	7,946
Depreciation, depletion and amortization	9,564	11,056
Specialty [Member]
Total revenue	133,039	139,124
Gross profit (loss)	(10,719)	13,298
Depreciation, depletion and amortization	6,383	5,812
Materials [Member]
Total revenue	50,330	41,643
Gross profit (loss)	(198)	(3,758)
Depreciation, depletion and amortization	4,973	5,579
Operating Segments [Member]
Total revenue	650,249	590,726
Gross profit (loss)	23,799	1,138
Depreciation, depletion and amortization	25,946	26,087
Segment assets	1,074,853	1,158,109
Operating Segments [Member] | Transportation [Member]
Total revenue	350,901	301,964
Segment assets	304,376	326,995
Operating Segments [Member] | Water [Member]
Total revenue	101,657	99,082
Segment assets	275,447	303,671
Operating Segments [Member] | Specialty [Member]
Total revenue	133,039	139,124
Segment assets	128,471	152,307
Operating Segments [Member] | Materials [Member]
Total revenue	64,652	50,556
Segment assets	366,559	375,136
Consolidation, Eliminations [Member]
Total revenue	(14,322)	(8,913)
Consolidation, Eliminations [Member] | Transportation [Member]
Total revenue	0	0
Consolidation, Eliminations [Member] | Water [Member]
Total revenue	0	0
Consolidation, Eliminations [Member] | Specialty [Member]
Total revenue	0	0
Consolidation, Eliminations [Member] | Materials [Member]
Total revenue	$ (14,322)	$ (8,913)

Note 19 - Business Segment In_4

Note 19 - Business Segment Information - Reconciliation of Segment Gross (Loss) Profit to Consolidated Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Total gross profit from reportable segments	$ 23,799	$ 1,138
Selling, general and administrative expenses	78,381	80,155
Acquisition and integration expenses	0	1,848
Non-cash impairment charges (See Note 4)	24,413	0
Gain on sales of property and equipment	(623)	(1,900)
Total other income	8,876	(1,854)
Loss before benefit from income taxes	(87,248)	(77,111)
Operating Segments [Member]
Total gross profit from reportable segments	$ 23,799	$ 1,138