$GVA
GRANITE CONSTRUCTION INC Stock $gva

$gva Overview Financials Valuation SEC Filings Company Website

2017 Q4 Form 10-Q Financial Statement

#000086145917000046 Filed on October 27, 2017

Income Statement

Concept	2017 Q4	2016 Q3
Revenue	$801.3M	$803.9M
YoY Change	20.19%	6.99%
Cost Of Revenue	$705.4M	$696.2M
YoY Change	20.5%	6.25%
Gross Profit	$100.7M	$107.7M
YoY Change	23.95%	12.06%
Gross Profit Margin	12.57%	13.39%
Selling, General & Admin	$57.70M	$54.19M
YoY Change	-4.31%	19.73%
% of Gross Profit	57.29%	50.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$17.80M	$17.10M
YoY Change	0.0%	-0.58%
% of Gross Profit	17.68%	15.88%
Operating Expenses	$57.70M	$54.19M
YoY Change	-4.31%	19.73%
Operating Profit	$43.01M	$53.88M
YoY Change	105.28%	4.36%
Interest Expense	$900.0K	$3.034M
YoY Change	200.0%	-12.94%
% of Operating Profit	2.09%	5.63%
Other Income/Expense, Net	$1.900M	$732.0K
YoY Change	171.43%	-2811.11%
Pretax Income	$11.00M	$54.79M
YoY Change	-63.21%	9.89%
Income Tax	$1.500M	$16.62M
% Of Pretax Income	13.64%	30.33%
Net Earnings	$32.77M	$37.19M
YoY Change	102.64%	20.91%
Net Earnings / Revenue	4.09%	4.63%
Basic Earnings Per Share	$0.82	$0.94
Diluted Earnings Per Share	$0.81	$0.92
COMMON SHARES
Basic Shares Outstanding	39.85M shares	39.60M shares
Diluted Shares Outstanding		40.31M shares

Balance Sheet

Concept	2017 Q4	2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$549.3M	$468.3M
YoY Change	9.55%	2.03%
Cash & Equivalents	$233.7M	$150.2M
Short-Term Investments	$315.6M	$318.0M
Other Short-Term Assets	$36.51M	$28.05M
YoY Change	-8.51%	-7.59%
Inventory	$62.50M	$61.02M
Prepaid Expenses
Receivables	$583.8M	$592.8M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$1.232B	$1.150B
YoY Change	13.14%	8.16%
LONG-TERM ASSETS
Property, Plant & Equipment	$407.4M	$407.3M
YoY Change	0.19%	5.79%
Goodwill	$53.80M	$53.80M
YoY Change	0.0%	0.0%
Intangibles
YoY Change
Long-Term Investments	$103.5M	$87.30M
YoY Change	4.97%	-15.81%
Other Assets	$75.20M	$81.54M
YoY Change	-12.0%	11.66%
Total Long-Term Assets	$639.9M	$635.2M
YoY Change	-0.71%	0.31%
TOTAL ASSETS
Total Short-Term Assets	$1.232B	$1.150B
Total Long-Term Assets	$639.9M	$635.2M
Total Assets	$1.872B	$1.785B
YoY Change	7.99%	5.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$237.7M	$223.6M
YoY Change	19.42%	13.57%
Accrued Expenses	$236.4M	$237.5M
YoY Change	8.14%	5.98%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$46.05M	$14.80M
YoY Change	211.22%	67150.0%
Total Short-Term Liabilities	$655.3M	$592.1M
YoY Change	23.65%	7.8%
LONG-TERM LIABILITIES
Long-Term Debt	$178.5M	$240.7M
YoY Change	-22.24%	-10.71%
Other Long-Term Liabilities	$44.09M	$46.27M
YoY Change	-4.14%	12.28%
Total Long-Term Liabilities	$222.5M	$287.0M
YoY Change	-19.22%	-7.66%
TOTAL LIABILITIES
Total Short-Term Liabilities	$655.3M	$592.1M
Total Long-Term Liabilities	$222.5M	$287.0M
Total Liabilities	$877.8M	$879.1M
YoY Change	8.99%	2.21%
SHAREHOLDERS EQUITY
Retained Earnings	$783.7M	$724.7M
YoY Change	6.53%	7.21%
Common Stock	$160.8M	$148.0M
YoY Change	6.66%	6.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$945.1M	$871.1M
YoY Change
Total Liabilities & Shareholders Equity	$1.872B	$1.785B
YoY Change	7.99%	5.23%

Cashflow Statement

Concept	2017 Q4	2016 Q3
OPERATING ACTIVITIES
Net Income	$32.77M	$37.19M
YoY Change	102.64%	20.91%
Depreciation, Depletion And Amortization	$17.80M	$17.10M
YoY Change	0.0%	-0.58%
Cash From Operating Activities	$81.60M	$33.70M
YoY Change	-11.78%	-30.66%
INVESTING ACTIVITIES
Capital Expenditures	-$10.90M	-$19.10M
YoY Change	-52.81%	92.93%
Acquisitions
YoY Change
Other Investing Activities	-$9.200M	-$20.40M
YoY Change	-26.4%	-1954.55%
Cash From Investing Activities	-$20.10M	-$39.50M
YoY Change	-43.54%	343.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-13.30M	-5.200M
YoY Change	-25.7%	-13.33%
NET CHANGE
Cash From Operating Activities	81.60M	33.70M
Cash From Investing Activities	-20.10M	-39.50M
Cash From Financing Activities	-13.30M	-5.200M
Net Change In Cash	48.20M	-11.00M
YoY Change	23.59%	-132.64%
FREE CASH FLOW
Cash From Operating Activities	$81.60M	$33.70M
Capital Expenditures	-$10.90M	-$19.10M
Free Cash Flow	$92.50M	$52.80M
YoY Change	-19.98%	-9.74%

Facts In Submission

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	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2017
	dei	Document Period End Date DocumentPeriodEndDate	2017-09-30
	dei	Document Type DocumentType	10-Q
	dei	Entity Central Index Key EntityCentralIndexKey	0000861459
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	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
	dei	Entity Registrant Name EntityRegistrantName	GRANITE CONSTRUCTION INC
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CY2017Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.14
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.90
	us-gaap	Equity Method Investment Dividends Or Distributions EquityMethodInvestmentDividendsOrDistributions	5850000	USD
	us-gaap	Equity Method Investment Dividends Or Distributions EquityMethodInvestmentDividendsOrDistributions	33374000	USD
CY2016Q3	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	398000	USD
	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	2364000	USD
CY2017Q3	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	1753000	USD
	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	2830000	USD
	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	2364000	USD
	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	2830000	USD
	us-gaap	Gains Losses On Sales Of Investment Real Estate GainsLossesOnSalesOfInvestmentRealEstate	2452000	USD
	us-gaap	Gains Losses On Sales Of Investment Real Estate GainsLossesOnSalesOfInvestmentRealEstate	0	USD
CY2016Q3	us-gaap	Goodwill Goodwill	53799000	USD
CY2016Q4	us-gaap	Goodwill Goodwill	53799000	USD
CY2017Q3	us-gaap	Goodwill Goodwill	53799000	USD
CY2016Q3	us-gaap	Gross Profit GrossProfit	107674000	USD
	us-gaap	Gross Profit GrossProfit	220120000	USD
CY2017Q3	us-gaap	Gross Profit GrossProfit	114530000	USD
	us-gaap	Gross Profit GrossProfit	214226000	USD
CY2017Q3	us-gaap	Held To Maturity Securities HeldToMaturitySecurities	117805000	USD
CY2017Q3	us-gaap	Held To Maturity Securities Debt Maturities After One Through Five Years Net Carrying Amount HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount	69991000	USD
CY2017Q3	us-gaap	Held To Maturity Securities Debt Maturities Within One Year Net Carrying Amount HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount	47814000	USD
CY2016Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	54790000	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	66476000	USD
CY2017Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	69304000	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	57317000	USD
CY2016Q3	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	2424000	USD
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	4583000	USD
CY2017Q3	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	2732000	USD
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	4907000	USD
CY2016Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	16617000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	19540000	USD
CY2017Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	21249000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	16841000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	6748000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	2689000	USD
	us-gaap	Increase Decrease In Accounts And Other Receivables IncreaseDecreaseInAccountsAndOtherReceivables	169678000	USD
	us-gaap	Increase Decrease In Accounts And Other Receivables IncreaseDecreaseInAccountsAndOtherReceivables	207908000	USD
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	62787000	USD
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	90799000	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	5462000	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	6814000	USD
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	2209000	USD
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-10523000	USD
CY2016Q3	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	714000	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	666000	shares
CY2017Q3	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	543000	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	593000	shares
CY2016Q3	us-gaap	Interest Expense InterestExpense	3034000	USD
	us-gaap	Interest Expense InterestExpense	9270000	USD
CY2017Q3	us-gaap	Interest Expense InterestExpense	2660000	USD
	us-gaap	Interest Expense InterestExpense	8097000	USD
	us-gaap	Interest Paid Net InterestPaidNet	7557000	USD
	us-gaap	Interest Paid Net InterestPaidNet	6720000	USD
CY2016Q3	us-gaap	Inventory Net InventoryNet	61015000	USD
CY2016Q4	us-gaap	Inventory Net InventoryNet	55245000	USD
CY2017Q3	us-gaap	Inventory Net InventoryNet	62059000	USD
CY2016Q3	us-gaap	Investment Income Interest InvestmentIncomeInterest	790000	USD
	us-gaap	Investment Income Interest InvestmentIncomeInterest	2424000	USD
CY2017Q3	us-gaap	Investment Income Interest InvestmentIncomeInterest	1141000	USD
	us-gaap	Investment Income Interest InvestmentIncomeInterest	3356000	USD
CY2016Q3	us-gaap	Investments In Affiliates Subsidiaries Associates And Joint Ventures InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures	34356000	USD
CY2016Q4	us-gaap	Investments In Affiliates Subsidiaries Associates And Joint Ventures InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures	35668000	USD
CY2017Q3	us-gaap	Investments In Affiliates Subsidiaries Associates And Joint Ventures InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures	39946000	USD
CY2016Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1785267000	USD
CY2016Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1733453000	USD
CY2017Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1947288000	USD
CY2016Q3	us-gaap	Liabilities Current LiabilitiesCurrent	592092000	USD
CY2016Q4	us-gaap	Liabilities Current LiabilitiesCurrent	529934000	USD
CY2017Q3	us-gaap	Liabilities Current LiabilitiesCurrent	717191000	USD
CY2017Q3	us-gaap	Marketable Securities Noncurrent MarketableSecuritiesNoncurrent	69991000	USD
CY2016Q3	us-gaap	Minority Interest MinorityInterest	35044000	USD
CY2016Q4	us-gaap	Minority Interest MinorityInterest	36603000	USD
CY2017Q3	us-gaap	Minority Interest MinorityInterest	37252000	USD
	us-gaap	Minority Interest Decrease From Distributions To Noncontrolling Interest Holders MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	1827000	USD
	us-gaap	Minority Interest Decrease From Distributions To Noncontrolling Interest Holders MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	3502000	USD
CY2016Q3	us-gaap	Money Market Funds At Carrying Value MoneyMarketFundsAtCarryingValue	12041000	USD
CY2016Q4	us-gaap	Money Market Funds At Carrying Value MoneyMarketFundsAtCarryingValue	10057000	USD
	us-gaap	Line Of Credit Facility Covenant Compliance LineOfCreditFacilityCovenantCompliance	As of September 2017, we were in compliance with the covenants contained in our note purchase agreement governing our 2019 Notes and Credit Agreement. We are not aware of any non-compliance by any of our unconsolidated real estate entities with the covenants contained in their debt agreements.
CY2016Q3	us-gaap	Long Term Debt Current LongTermDebtCurrent	14795000	USD
CY2016Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	14796000	USD
CY2017Q3	us-gaap	Long Term Debt Current LongTermDebtCurrent	14796000	USD
CY2016Q3	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	240715000	USD
CY2016Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	229498000	USD
CY2017Q3	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	225922000	USD
CY2016Q3	us-gaap	Loss Contingency Accrual At Carrying Value LossContingencyAccrualAtCarryingValue	700000	USD
CY2016Q4	us-gaap	Loss Contingency Accrual At Carrying Value LossContingencyAccrualAtCarryingValue	4300000	USD
CY2017Q3	us-gaap	Loss Contingency Accrual At Carrying Value LossContingencyAccrualAtCarryingValue	1700000	USD
CY2016Q3	us-gaap	Marketable Securities Current MarketableSecuritiesCurrent	54863000	USD
CY2016Q4	us-gaap	Marketable Securities Current MarketableSecuritiesCurrent	64884000	USD
CY2017Q3	us-gaap	Marketable Securities Current MarketableSecuritiesCurrent	47814000	USD
CY2016Q3	us-gaap	Marketable Securities Noncurrent MarketableSecuritiesNoncurrent	52908000	USD
CY2016Q4	us-gaap	Marketable Securities Noncurrent MarketableSecuritiesNoncurrent	62895000	USD
CY2017Q3	us-gaap	Money Market Funds At Carrying Value MoneyMarketFundsAtCarryingValue	22896000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-22436000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-29336000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-60777000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-39088000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-19398000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	64614000	USD
CY2016Q3	us-gaap	Net Income Loss NetIncomeLoss	37191000	USD
	us-gaap	Net Income Loss NetIncomeLoss	40949000	USD
CY2017Q3	us-gaap	Net Income Loss NetIncomeLoss	45982000	USD
	us-gaap	Net Income Loss NetIncomeLoss	36325000	USD
CY2016Q3	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	982000	USD
	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	5987000	USD
CY2017Q3	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	2073000	USD
	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	4151000	USD
CY2016Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	53878000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	63452000	USD
CY2017Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	66782000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	54330000	USD
CY2016Q3	us-gaap	Other Assets Current OtherAssetsCurrent	28047000	USD
	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax	-163000	USD
	us-gaap	Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax	141000	USD
CY2016Q3	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax	382000	USD
	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax	-1016000	USD
CY2017Q3	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax	46000	USD
CY2016Q4	us-gaap	Other Assets Current OtherAssetsCurrent	39908000	USD
CY2017Q3	us-gaap	Other Assets Current OtherAssetsCurrent	26612000	USD
CY2016Q3	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	81540000	USD
CY2016Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	85449000	USD
CY2017Q3	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	85411000	USD
CY2016Q3	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	508000	USD
	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	-790000	USD
CY2017Q3	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	71000	USD
	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	-22000	USD
CY2016Q3	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-221000	USD
	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	766000	USD
CY2017Q3	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	98000	USD
	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	633000	USD
CY2016Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	287000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-24000	USD
CY2017Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	169000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	611000	USD
CY2016Q3	us-gaap	Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax	126000	USD
	us-gaap	Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax	226000	USD
CY2017Q3	us-gaap	Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax	25000	USD
CY2016Q3	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	46270000	USD
CY2016Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	45989000	USD
CY2017Q3	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	46435000	USD
CY2016Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	732000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	5287000	USD
CY2017Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	1309000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	2821000	USD
	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	-3847000	USD
	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	-2321000	USD
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	4946000	USD
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	6713000	USD
	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	15415000	USD
	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	15506000	USD
	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	84758000	USD
	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	79708000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	67889000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	56808000	USD
CY2016Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2016Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2017Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2016Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	3000000	shares
CY2016Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	3000000	shares
CY2017Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	3000000	shares
CY2016Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2016Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2017Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2016Q3	us-gaap	Preferred Stock Value Outstanding PreferredStockValueOutstanding	0	USD
CY2016Q4	us-gaap	Preferred Stock Value Outstanding PreferredStockValueOutstanding	0	USD
CY2017Q3	us-gaap	Preferred Stock Value Outstanding PreferredStockValueOutstanding	0	USD
	us-gaap	Proceeds From Contributions From Affiliates ProceedsFromContributionsFromAffiliates	2233000	USD
	us-gaap	Proceeds From Contributions From Affiliates ProceedsFromContributionsFromAffiliates	0	USD
	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	153000	USD
	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	133000	USD
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	5790000	USD
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	5107000	USD
CY2016Q3	us-gaap	Profit Loss ProfitLoss	38173000	USD
	us-gaap	Profit Loss ProfitLoss	46936000	USD
CY2017Q3	us-gaap	Profit Loss ProfitLoss	48055000	USD
	us-gaap	Profit Loss ProfitLoss	40476000	USD
CY2016Q3	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	1206071000	USD
CY2016Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	1181583000	USD
CY2017Q3	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	1212526000	USD
CY2016Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	407327000	USD
CY2016Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	406650000	USD
CY2017Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	412174000	USD
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	3750000	USD
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	3750000	USD
CY2016Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	724691000	USD
CY2016Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	735626000	USD
CY2017Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	756183000	USD
CY2016Q3	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	89936000	USD
	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	200363000	USD
CY2017Q3	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	98135000	USD
	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	211834000	USD
CY2016Q3	us-gaap	Sales Revenue Net SalesRevenueNet	803905000	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	1847936000	USD
CY2017Q3	us-gaap	Sales Revenue Net SalesRevenueNet	957126000	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	2188439000	USD
CY2016Q3	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	54194000	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	159032000	USD
CY2017Q3	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	49501000	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	162726000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	11013000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	13580000	USD
	us-gaap	Shares Paid For Tax Withholding For Share Based Compensation SharesPaidForTaxWithholdingForShareBasedCompensation	111000000	shares
	us-gaap	Shares Paid For Tax Withholding For Share Based Compensation SharesPaidForTaxWithholdingForShareBasedCompensation	136000000	shares
CY2016Q3	us-gaap	Stockholders Equity StockholdersEquity	871146000	USD
CY2016Q4	us-gaap	Stockholders Equity StockholdersEquity	885988000	USD
CY2017Q3	us-gaap	Stockholders Equity StockholdersEquity	914556000	USD
CY2015Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	870121000	USD
CY2016Q3	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	906190000	USD
CY2016Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	922591000	USD
CY2017Q3	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	951808000	USD
	us-gaap	Stockholders Equity Other StockholdersEquityOther	-11345000	USD
	us-gaap	Stockholders Equity Other StockholdersEquityOther	-14488000	USD
CY2016Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	40313000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	40205000	shares
CY2017Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	40387000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	40367000	shares
CY2016Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	39599000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	39539000	shares
CY2017Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	39844000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	39774000	shares
	us-gaap	Description Of New Accounting Pronouncements Not Yet Adopted DescriptionOfNewAccountingPronouncementsNotYetAdopted	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Recently Issued Accounting Pronouncements</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification</font><font style="font-family:inherit;font-size:12pt;"> (</font><font style="font-family:inherit;font-size:10pt;">“ASC”) Topic 606, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers</font><font style="font-family:inherit;font-size:10pt;">, and subsequently issued several related ASUs (“Topic 606”), which provide guidance for recognizing revenue from contracts with customers. The core principle of Topic 606 is that revenue will be recognized when promised goods or services are transferred to customers in an amount that reflects consideration for which entitlement is expected in exchange for those goods or services. Topic 606 will be effective commencing with our quarter ending March 31, 2018.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We will adopt Topic 606 using the modified retrospective transition approach, which we will elect to apply to contracts with customers that are not substantially complete, i.e. less than 90% complete, as of January 1, 2018. We do not expect Topic 606 to have a material impact on our Construction and Construction Materials segments’ revenue. The most significant impact of Topic 606 relates to our Large Project Construction segment specifically in the following areas:</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:78px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Multiple performance obligations - In accordance with Topic 606, construction contracts with customers, including those related to contract modifications, will be reviewed to determine if there are multiple performance obligations. If separate performance obligations are identified, the timing of revenue recognition could be impacted. Based on our assessment to-date of currently active construction contracts with customers, we have identified one unconsolidated joint venture contract in our Large Project Construction segment that will have multiple performance obligations. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:78px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Multiple contracts - Contracts containing task orders may be determined to consist of multiple individual contracts as defined by Topic 606.  Based on our assessment to-date of currently active construction contracts with customers, we have identified one Large Project Construction segment contract and one Construction segment contract that will consist of multiple individual contracts as defined by Topic 606.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:78px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Provision for losses - Provisions for losses will be recognized in the consolidated statements of operations for the full amount of estimated losses at the uncompleted performance obligation level whenever evidence indicates that the estimated total cost of a performance obligation exceeds its estimated total revenue. Currently provisions for losses are recorded at the contract level. Based on our assessment to-date of currently active construction contracts with customers, we have identified one unconsolidated joint venture contract in our Large Project Construction segment that will have actual and provisions for losses related to completed and uncompleted performance obligations, respectively.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:8px;text-align:left;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Based on our estimated costs to complete and our assessment of the impact from the adoption of Topic 606 as of September 30, 2017, we estimate a net cumulative decrease to retained earnings between $11.0 million and $19.0 million as of January 1, 2018. This estimate may change upon adoption for various reasons including, but not limited to, revisions to the estimated costs to complete or a difference in actual progress versus expected progress related to current or new performance obligations.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition to the above, we expect to separately present contract assets and liabilities on the consolidated balance sheets. Contract assets will include amounts due under contractual retainage provisions, unbilled receivables, costs and estimated earnings in excess of billings and capitalized mobilization costs. Contract liabilities will include provisions for losses and billings in excess of costs and estimated earnings.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">There will also be new disclosures related to revenue including information about unearned revenue and revenue disaggregated by operating group. Unearned revenue will be similar to our existing contract backlog but will only include project amounts when the related contract, contract options and task orders, as applicable, are executed rather than when awarded and funding is probable. </font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued ASU No. 2016-02, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Leases (Topic 842)</font><font style="font-family:inherit;font-size:10pt;">, which requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (a) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (b) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. The ASU will be effective commencing with our quarter ending March 31, 2019. While we continue to evaluate the effect of this ASU, we expect the adoption of this ASU to have a material impact on our assets and liabilities due to the recognition of right-of-use assets and lease liabilities on our consolidated balance sheets.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2017, the FASB issued ASU No. 2017-01, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Business Combinations (Topic 805): Clarifying the Definition of a Business, </font><font style="font-family:inherit;font-size:10pt;">which</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> </font><font style="font-family:inherit;font-size:10pt;">is intended to help companies evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses by providing a more robust framework to use in determining when a set of assets and activities is a business. This ASU will be effective commencing with our quarter ending March 31, 2018. We do not expect the adoption of this ASU to have an impact on our consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:8px;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2017, the FASB issued ASU 2017-04, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. </font><font style="font-family:inherit;font-size:10pt;">This ASU eliminates Step 2 from the goodwill impairment test, which measures goodwill impairment by comparing the implied fair value of a reporting unit’s goodwill with its carrying amount. This ASU will be effective commencing with our quarter ending March 31, 2020. We do not expect the adoption of this ASU to have a material impact on our consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:8px;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2017, the FASB issued ASU 2017-09,</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> Compensation-Stock Compensation (Topic 718) Scope of Modification Accounting, </font><font style="font-family:inherit;font-size:10pt;">which clarifies that changes to the value, vesting conditions, or award classification of share-based payment awards must be accounted for as modifications. This ASU will be effective commencing with our quarter ending March 31, 2018. We do not expect the adoption of this ASU to have a material impact on our consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:8px;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2017, the FASB issued ASU 2017-12, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities, </font><font style="font-family:inherit;font-size:10pt;">which refines and expands hedge accounting for both financial (e.g., interest rate) and commodity risks. This ASU will be effective commencing with our quarter ending March 31, 2019. We do not expect the adoption of this ASU to have a material impact on our consolidated financial statements.</font></div></div>

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2017 Q4 Form 10-Q Financial Statement

#000086145917000046 Filed on October 27, 2017

Income Statement

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$GVA GRANITE CONSTRUCTION INC Stock $gva

2017 Q4 Form 10-Q Financial Statement

#000086145917000046 Filed on October 27, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$GVA
GRANITE CONSTRUCTION INC Stock $gva