v3.26.3
Condensed Consolidated Statements of Shareholders' Equity - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Total Granite Shareholders’ Equity
Non-controlling Interests
Beginning balances (in shares) at Dec. 31, 2024   43,424,646          
Beginning balances at Dec. 31, 2024 $ 1,079,363 $ 434 $ 410,739 $ (582) $ 604,635 $ 1,015,226 $ 64,137
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 161,415       140,973 140,973 20,442
Other comprehensive income 1,450     1,450   1,450  
Repurchases of common stock (shares) [1]   (257,540)          
Repurchases of common stock [1] (21,600) $ (3) (21,597)     (21,600)  
RSUs vested (shares)   565,208          
RSUs vested 0 $ 6 (6)        
Dividends on common stock (17,067)   209   (17,276) (17,067)  
Transactions with non-controlling interests (35,378)           (35,378)
Stock-based compensation expense and other (in shares)   (4,451)          
Stock-based compensation expense and other 36,798   36,798     36,798  
Ending balances (in shares) at Sep. 30, 2025   43,736,765          
Ending balances at Sep. 30, 2025 1,204,981 $ 437 426,143 868 728,332 1,155,780 49,201
Beginning balances (in shares) at Jun. 30, 2025   43,778,784          
Beginning balances at Jun. 30, 2025 1,114,355 $ 438 430,155 997 631,158 1,062,748 51,607
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 109,397       102,929 102,929 6,468
Other comprehensive income (129)     (129)   (129)  
Repurchases of common stock (shares) [2]   (56,802)          
Repurchases of common stock (6,282) [2] $ (1) (6,281) [2]     (6,282) [2]  
RSUs vested (shares)   14,848          
RSUs vested 0            
Dividends on common stock (5,688)   67   (5,755) (5,688)  
Transactions with non-controlling interests (8,874)           (8,874)
Stock-based compensation expense and other (in shares)   (65)          
Stock-based compensation expense and other 2,202   2,202     2,202  
Ending balances (in shares) at Sep. 30, 2025   43,736,765          
Ending balances at Sep. 30, 2025 $ 1,204,981 $ 437 426,143 868 728,332 1,155,780 49,201
Beginning balances (in shares) at Dec. 31, 2025 43,496,781 43,496,781          
Beginning balances at Dec. 31, 2025 $ 1,221,533 $ 435 402,391 1,581 774,641 1,179,048 42,485
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) (297,582)       (316,651) (316,651) 19,069
Other comprehensive income 7,096     7,096   7,096  
Repurchases of common stock (shares) [1]   (458,877)          
Repurchases of common stock [1] (55,772) $ (5) (55,767)     (55,772)  
RSUs vested (shares)   426,473          
RSUs vested 0 $ 4 (4)        
Repurchases of 3.75% Convertible Notes (in shares)   662,383          
Repurchases of 3.75% Convertible Notes (95,218) $ 7 (95,225)     (95,218)  
Dividends on common stock (17,113)   195   (17,308) (17,113)  
Unwind of capped call 198,765   198,765     198,765  
Transactions with non-controlling interests (10,847)           (10,847)
Stock-based compensation expense and other (in shares)   (3,277)          
Stock-based compensation expense and other $ 45,837   45,837     45,837  
Ending balances (in shares) at Sep. 30, 2026 44,130,037 44,130,037          
Ending balances at Sep. 30, 2026 $ 996,699 $ 441 496,192 8,677 440,682 945,992 50,707
Beginning balances (in shares) at Jun. 30, 2026   43,764,125          
Beginning balances at Jun. 30, 2026 805,336 $ 438 304,470 4,568 443,272 752,748 52,588
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 10,391       3,210 3,210 7,181
Other comprehensive income 4,109     4,109   4,109  
Repurchases of common stock (shares) [2]   (301,642)          
Repurchases of common stock [2] (37,103) $ (4) (37,099)     (37,103)  
RSUs vested (shares)   5,194          
RSUs vested 0            
Repurchases of 3.75% Convertible Notes (in shares)   662,383          
Repurchases of 3.75% Convertible Notes 83,586 $ 7 83,579     83,586  
Dividends on common stock (5,737)   63   (5,800) (5,737)  
Unwind of capped call 143,653   143,653     143,653  
Transactions with non-controlling interests (9,062)           (9,062)
Stock-based compensation expense and other (in shares)   (23)          
Stock-based compensation expense and other $ 1,526   1,526     1,526  
Ending balances (in shares) at Sep. 30, 2026 44,130,037 44,130,037          
Ending balances at Sep. 30, 2026 $ 996,699 $ 441 $ 496,192 $ 8,677 $ 440,682 $ 945,992 $ 50,707
[1] Represents shares withheld related to employee taxes for RSUs vested under our equity incentive plans in 2026 and 2025, as well as 300,000 and 51,320 shares repurchased under our share repurchase program in 2026 and 2025, respectively.
(2) Represents the unwind of the capped call agreements associated with the 3.75% Convertible Notes, net of $5.0 million of deferred taxes. See Note 14 for further information.
[2] Represents shares withheld related to employee taxes for RSUs vested under our equity incentive plans in 2026 and 2025, as well as 300,000 and 51,120 shares repurchased under our share repurchase program in 2026 and 2025, respectively.
(2) Represents the unwind of the capped call agreements associated with the 3.75% Convertible Notes, net of $3.4 million of deferred taxes. See Note 14 for further information.