GRANITE CONSTRUCTION INC
For the period ended Dec 31, 2024. Filed Feb 14, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 14, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Shareholders’ Equity
(in thousands, except share data)
| Outstanding Shares | Common Stock | Additional Paid-In Capital | Accumulated Other Comprehensive Income (Loss) | Retained Earnings | Total Granite Shareholders’ Equity | Non-Controlling Interests | Total Equity | |
|---|---|---|---|---|---|---|---|---|
| Balances at December 31, 2021 | 45,840,260 | $458 | $559,752 | $(3,359) | $410,831 | $967,682 | $27,881 | $995,563 |
| Cumulative effect of newly adopted accounting standard (see Note 1) | — | — | (26,961) | — | 10,543 | (16,418) | — | (16,418) |
| Balances at January 1, 2022 | 45,840,260 | $458 | $532,791 | $(3,359) | $421,374 | $951,264 | $27,881 | $979,145 |
| Net income | — | — | — | — | 83,302 | 83,302 | (4,445) | 78,857 |
| Other comprehensive income | — | — | — | 4,147 | — | 4,147 | — | 4,147 |
| Repurchases of common stock (1) | (2,376,020) | (24) | (70,877) | — | — | (70,901) | — | (70,901) |
| RSUs vested | 262,748 | 3 | (3) | — | — | — | — | — |
| Dividends on common stock ($0.52 per share) | — | — | — | — | (23,292) | (23,292) | — | (23,292) |
| Transactions with non-controlling interests, net | — | — | — | — | — | — | 8,693 | 8,693 |
| Stock-based compensation expense and other | 16,919 | — | 8,496 | — | — | 8,496 | — | 8,496 |
| Balances at December 31, 2022 | 43,743,907 | $437 | $470,407 | $788 | $481,384 | $953,016 | $32,129 | $985,145 |
| Net income | — | $— | $— | $— | $43,599 | $43,599 | $(14,012) | $29,587 |
| Other comprehensive income | — | $— | $— | $93 | $— | $93 | $— | $93 |
| Repurchases of common stock (1) | (102,413) | $(1) | $(4,124) | $— | $— | $(4,125) | $— | $(4,125) |
| RSUs vested | 288,876 | $3 | $(3) | $— | $— | $— | $— | $— |
| Dividends on common stock ($0.52 per share) | — | $— | $301 | $— | $(23,139) | $(22,838) | $— | $(22,838) |
| Capped call transactions | — | $— | $(39,641) | $— | $— | $(39,641) | $— | $(39,641) |
| Redemption of warrants | — | $— | $(13,201) | $— | $— | $(13,201) | $— | $(13,201) |
| Common stock issued in debt extinguishment | 1,390,500 | $14 | $49,321 | $— | $— | $49,335 | $— | $49,335 |
| Exercise of bond hedge | (1,390,516) | $(14) | $14 | $— | $— | $— | $— | $— |
| Transactions with non-controlling interests, net | — | $— | $— | $— | $— | $— | $31,551 | $31,551 |
| Stock-based compensation expense and other | 13,764 | $— | $11,060 | $— | $— | $11,060 | $— | $11,060 |
| Balances at December 31, 2023 | 43,944,118 | $439 | $474,134 | $881 | $501,844 | $977,298 | $49,668 | $1,026,966 |
(1)During the years ended December 31, 2023 and 2022, there were 102,413 shares and 75,303 shares, respectively, withheld related to employee taxes for RSUs vested under our equity incentive plans. During the year ended December 31, 2022, we also repurchased 2,298,353 shares under the Board approved share repurchase program.
| Outstanding Shares · Common Stock · Additional Paid-In Capital · Accumulated Other Comprehensive Income (Loss) · Retained Earnings · Total Granite Shareholders’ Equity · Non-Controlling Interests · Total Equity | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balances at December 31, 2023 | 43,944,118 | $439 | $474,134 | $881 | $501,844 | $977,298 | $49,668 | $1,026,966 | ||||||||||||
| Net income | — | — | — | — | 126,346 | 126,346 | 14,097 | 140,443 | ||||||||||||
| Other comprehensive loss | — | — | — | (1,463) | — | (1,463) | — | (1,463) | ||||||||||||
| Repurchases of common stock (1) | (676,842) | (6) | (50,120) | — | (505) | (50,631) | — | (50,631) | ||||||||||||
| RSUs vested | 398,510 | 4 | (4) | — | — | — | — | — | ||||||||||||
| Dividends on common stock ($0.52 per share) | — | — | 297 | — | (23,050) | (22,753) | — | (22,753) | ||||||||||||
| Capped call transactions | — | — | (34,228) | — | — | (34,228) | — | (34,228) | ||||||||||||
| Redemption of warrants | — | — | 466 | — | — | 466 | — | 466 | ||||||||||||
| Common stock issued in debt redemption | 11,665 | 0 | (0) | — | — | — | — | — | ||||||||||||
| Exercise of bond hedge | (260,883) | (3) | 3 | — | — | — | — | — | ||||||||||||
| Transactions with non-controlling interests | — | — | — | — | — | — | 372 | 372 | ||||||||||||
| Stock-based compensation expense and other | 8,078 | — | 20,191 | — | — | 20,191 | — | 20,191 | ||||||||||||
| Balances at December 31, 2024 | 43,424,646 | $434 | $410,739 | $(582) | $604,635 | $1,015,226 | $64,137 | $1,079,363 | ||||||||||||
(1)During the year ended December 31, 2024, there were 152,042 shares withheld related to employee taxes for RSUs vested under our equity incentive plans and 524,800 shares repurchased under the Board approved share repurchase program.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.