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RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 653.75 m 441.5 653.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 677.75 m 445.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 653.75 m 445.5 653.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 677.75 m 512.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 653.75 m 512.5 653.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 677.75 m 516.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 653.75 m 516.5 653.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 677.75 m 583.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 653.75 m 583.5 653.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 526.75 m 370.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 526.75 m 374.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 526.75 m 441.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 526.75 m 445.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 526.75 m 512.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 526.75 m 516.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 526.75 m 583.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 435.75 m 370.5 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 423.75 m 370.5 423.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 421.75 m 370.5 421.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 435.75 m 374.5 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 423.75 m 374.5 423.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 421.75 m 374.5 421.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 435.75 m 441.5 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 423.75 m 441.5 423.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 421.75 m 441.5 421.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 435.75 m 445.5 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 423.75 m 445.5 423.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 421.75 m 445.5 421.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 435.75 m 512.5 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 423.75 m 512.5 423.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 421.75 m 512.5 421.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 435.75 m 516.5 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 423.75 m 516.5 423.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 421.75 m 516.5 421.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 435.75 m 583.5 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 423.75 m 583.5 423.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 421.75 m 583.5 421.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 318.75 m 370.5 318.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 318.75 m 374.5 318.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 318.75 m 441.5 318.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 318.75 m 445.5 318.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 318.75 m 512.5 318.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 318.75 m 516.5 318.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 318.75 m 583.5 318.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 167.75 m 370.5 167.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 167.75 m 374.5 167.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 167.75 m 441.5 167.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 167.75 m 445.5 167.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 167.75 m 512.5 167.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 167.75 m 516.5 167.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 167.75 m 583.5 167.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 141.75 m 370.5 141.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 141.75 m 374.5 141.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 141.75 m 441.5 141.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 141.75 m 445.5 141.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 141.75 m 512.5 141.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 141.75 m 516.5 141.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 141.75 m 583.5 141.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 128.75 m 370.5 128.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 116.75 m 370.5 116.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 114.75 m 370.5 114.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 128.75 m 374.5 128.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 116.75 m 374.5 116.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 114.75 m 374.5 114.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 128.75 m 441.5 128.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 116.75 m 441.5 116.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 114.75 m 441.5 114.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 128.75 m 445.5 128.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 116.75 m 445.5 116.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441.5 114.75 m 445.5 114.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 128.75 m 512.5 128.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 116.75 m 512.5 116.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445.5 114.75 m 512.5 114.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 128.75 m 516.5 128.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 116.75 m 516.5 116.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 114.75 m 516.5 114.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 128.75 m 583.5 128.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 116.75 m 583.5 116.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 114.75 m 583.5 114.75 l s BT /F2 12.00 Tf ET q 0 0 0 rg BT 176.05 706.17 Td (GRANITE CONSTRUCTION INCORPORATED) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 161.90 693.17 Td (CONDENSED CONSOLIDATED BALANCE SHEETS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 184.55 681.31 Td (\(Unaudited - in thousands, except share and per share data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 658.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.70 668.43 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.50 658.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.40 668.43 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.50 658.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.70 668.43 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.50 658.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 30.00 644.48 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 644.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 644.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 644.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 631.32 Td (Current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 631.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 631.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 580.00 631.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 618.32 Td (Cash and cash equivalents \($50,065, $46,210 and $46,963 related to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 608.32 Td (consolidated construction joint ventures \(CCJVs\)\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 609.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 609.42 Td (161,218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 609.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 609.42 Td (252,836) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 609.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 609.42 Td (188,147) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 595.32 Td (Short-term marketable securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 595.32 Td (34,959) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 595.32 Td (25,043) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 595.32 Td (17,560) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 582.32 Td (Receivables, net \($59,923, $45,734 and $36,978 related to CCJVs\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 582.32 Td (431,127) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 582.32 Td (340,822) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 582.32 Td (362,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 569.32 Td (Costs and estimated earnings in excess of billings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 569.32 Td (86,025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 569.32 Td (59,070) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 569.32 Td (60,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 556.32 Td (Inventories) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 556.32 Td (64,711) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 556.32 Td (55,553) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 556.32 Td (71,022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 543.32 Td (Equity in construction joint ventures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 543.32 Td (245,509) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 543.32 Td (224,689) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 543.32 Td (209,016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 530.32 Td (Other current assets \($8,940, $4,863 and $2,562 related to CCJVs\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 530.32 Td (31,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 530.32 Td (26,985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 530.32 Td (33,885) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 517.32 Td (Total current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 517.32 Td (1,055,498) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 517.32 Td (984,998) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 517.32 Td (942,059) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 504.32 Td (Property and equipment, net \($13,420, $5,378 and $7,474 related to CCJVs\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 504.32 Td (409,860) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 504.32 Td (385,129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 504.32 Td (391,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 491.32 Td (Long-term marketable securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 491.32 Td (42,653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 491.32 Td (80,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 491.32 Td (70,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 478.32 Td (Investments in affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 478.32 Td (34,517) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 478.32 Td (33,182) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 478.32 Td (32,655) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 465.32 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 465.32 Td (53,799) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 465.32 Td (53,799) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 465.32 Td (53,799) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 452.32 Td (Deferred income taxes, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 452.32 Td (5,407) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 452.32 Td (4,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 452.32 Td (32,616) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 439.32 Td (Other noncurrent assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 439.32 Td (84,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 439.32 Td (84,789) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 439.32 Td (74,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.00 426.32 Td (Total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 426.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 426.32 Td (1,685,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 426.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 426.32 Td (1,626,878) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 426.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 426.32 Td (1,598,538) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 30.00 407.48 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.00 407.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 407.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 580.00 407.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 394.32 Td (Current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.00 394.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 394.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 580.00 394.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 381.32 Td (Current maturities of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 381.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 381.32 Td (14,795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 381.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 381.32 Td (14,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 381.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 569.65 381.32 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 368.32 Td (Accounts payable \($25,061, $11,909 and $12,554 related to CCJVs\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 368.32 Td (210,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 368.32 Td (157,571) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 368.32 Td (170,474) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 355.32 Td (Billings in excess of costs and estimated earnings \($18,687, $15,768 and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 345.32 Td ($23,947 related to CCJVs\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 346.42 Td (90,484) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 346.42 Td (92,515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 346.42 Td (106,086) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 332.32 Td (Accrued expenses and other current liabilities \($1,529, $1,171 and $1,388) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 322.32 Td (related to CCJVs\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 323.42 Td (212,986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 323.42 Td (200,935) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 323.42 Td (201,259) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 309.32 Td (Total current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 309.32 Td (529,188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 309.32 Td (465,821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 309.32 Td (477,841) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 296.32 Td (Long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 296.32 Td (241,907) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 296.32 Td (244,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 296.32 Td (269,566) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 283.32 Td (Other long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 283.32 Td (45,719) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 283.32 Td (46,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 283.32 Td (42,851) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 270.32 Td (Commitments and contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 257.32 Td (Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 580.00 257.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 244.32 Td (Preferred stock, $0.01 par value, authorized 3,000,000 shares, none outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.65 244.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.65 244.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 569.65 244.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 231.32 Td (Common stock, $0.01 par value, authorized 150,000,000 shares; issued and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 221.32 Td (outstanding: 39,597,469 shares as of June 30, 2016, 39,412,877 shares as of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 211.32 Td (December 31, 2015 and39,372,298 shares as of June 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 211.42 Td (396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 211.42 Td (394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 564.65 211.42 Td (394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 197.32 Td (Additional paid-in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 197.32 Td (145,972) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 197.32 Td (140,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 197.32 Td (137,012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 184.32 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.80 184.37 Td (\(1,811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 184.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.80 184.37 Td (\(1,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.65 184.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.30 184.32 Td (\(798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 579.65 184.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 171.32 Td (Retained earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 171.32 Td (691,924) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 171.32 Td (699,431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 171.32 Td (650,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 158.32 Td (Total Granite Construction Incorporated shareholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 158.32 Td (836,481) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 158.32 Td (839,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 158.32 Td (786,965) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 145.32 Td (Non-controlling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 145.32 Td (32,534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 145.32 Td (30,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.15 145.32 Td (21,315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 132.32 Td (Total equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 132.32 Td (869,015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 132.32 Td (870,121) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 132.32 Td (808,280) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.00 119.32 Td (Total liabilities and equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 119.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 119.32 Td (1,685,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 119.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 119.32 Td (1,626,878) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 119.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 119.32 Td (1,598,538) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 104.25 Td (The accompanying notes are an integral part of these condensed consolidated financial statements.) 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0.9333333333333333 1 rg /GS0 gs 443.50 331.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 331.50 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 331.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 305.50 254.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.50 305.50 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.50 305.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 305.50 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 305.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 305.50 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 305.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 305.50 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 305.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 279.50 254.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.50 279.50 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.50 279.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 279.50 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 279.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 279.50 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 279.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 279.50 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 279.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 253.50 254.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.50 253.50 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.50 253.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 253.50 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.50 253.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.50 253.50 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 253.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 253.50 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 253.50 66.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 706.5 m 281.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 693.5 m 281.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 706.5 m 291.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 693.5 m 291.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 706.5 m 357.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 693.5 m 357.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 706.5 m 367.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 693.5 m 367.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 706.5 m 433.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 693.5 m 433.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 706.5 m 443.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 693.5 m 443.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 706.5 m 509.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 693.5 m 509.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 706.5 m 519.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 693.5 m 519.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 706.5 m 585.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 693.5 m 585.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 693.5 m 281.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 680.5 m 281.5 680.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 693.5 m 291.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 680.5 m 291.5 680.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 693.5 m 357.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 680.5 m 357.5 680.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 693.5 m 367.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 680.5 m 367.5 680.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 693.5 m 433.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 680.5 m 433.5 680.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 693.5 m 443.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 680.5 m 443.5 680.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 693.5 m 509.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 680.5 m 509.5 680.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 693.5 m 519.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 680.5 m 519.5 680.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 693.5 m 585.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 680.5 m 585.5 680.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 680.5 m 443.5 680.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 680.5 m 509.5 680.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 680.5 m 519.5 680.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 680.5 m 585.5 680.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 628.5 m 281.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 628.5 m 291.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 628.5 m 357.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 628.5 m 367.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 628.5 m 433.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 628.5 m 443.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 628.5 m 509.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 628.5 m 519.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 628.5 m 585.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 615.5 m 281.5 615.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 615.5 m 291.5 615.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 628.5 m 357.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 615.5 m 357.5 615.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 628.5 m 367.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 615.5 m 367.5 615.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 628.5 m 433.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 615.5 m 433.5 615.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 628.5 m 443.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 615.5 m 443.5 615.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 628.5 m 509.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 615.5 m 509.5 615.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 628.5 m 519.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 615.5 m 519.5 615.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 628.5 m 585.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 615.5 m 585.5 615.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 563.5 m 281.5 563.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 563.5 m 291.5 563.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 563.5 m 357.5 563.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 563.5 m 367.5 563.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 563.5 m 433.5 563.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 563.5 m 443.5 563.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 563.5 m 509.5 563.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 563.5 m 519.5 563.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 563.5 m 585.5 563.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 550.5 m 281.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 550.5 m 291.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 550.5 m 357.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 550.5 m 367.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 550.5 m 433.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 550.5 m 443.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 550.5 m 509.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 550.5 m 519.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 550.5 m 585.5 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 511.5 m 281.5 511.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 511.5 m 291.5 511.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 511.5 m 357.5 511.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 511.5 m 367.5 511.5 l s 0 0 0 RG 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/GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 394.5 m 443.5 394.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 394.5 m 509.5 394.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 394.5 m 519.5 394.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 394.5 m 585.5 394.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 368.5 m 281.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 368.5 m 291.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 368.5 m 357.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 368.5 m 367.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 368.5 m 433.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 368.5 m 443.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 368.5 m 509.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 368.5 m 519.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 368.5 m 585.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 345.5 m 281.5 345.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 343.5 m 281.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 345.5 m 291.5 345.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281.5 343.5 m 291.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 345.5 m 357.5 345.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 343.5 m 357.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 345.5 m 367.5 345.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 343.5 m 367.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 345.5 m 433.5 345.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 343.5 m 433.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 345.5 m 443.5 345.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 343.5 m 443.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 345.5 m 509.5 345.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 343.5 m 509.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 345.5 m 519.5 345.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 343.5 m 519.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 345.5 m 585.5 345.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 343.5 m 585.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 343.5 m 443.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433.5 345.5 m 443.5 345.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 343.5 m 509.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 345.5 m 509.5 345.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 343.5 m 519.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 345.5 m 519.5 345.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 343.5 m 585.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519.5 345.5 m 585.5 345.5 l s BT /F2 12.00 Tf ET q 0 0 0 rg BT 177.05 737.87 Td (GRANITE CONSTRUCTION INCORPORATED) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 126.60 723.87 Td (CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 206.45 711.06 Td (\(Unaudited - in thousands, except per share data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.45 697.23 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.50 697.23 Td (Six Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 314.00 684.23 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.00 684.23 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.00 684.23 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.00 684.23 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 671.07 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 671.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.00 671.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 658.07 Td (Construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.00 658.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 658.07 Td (331,346) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 658.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 658.07 Td (305,605) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.00 658.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 658.07 Td (540,833) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.00 658.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 658.07 Td (494,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 645.07 Td (Large Project Construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 645.07 Td (197,322) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 645.07 Td (182,893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 645.07 Td (392,771) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 645.07 Td (373,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 632.07 Td (Construction Materials) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 632.07 Td (75,911) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 632.07 Td (80,744) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 632.07 Td (110,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 632.07 Td (122,168) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.00 619.07 Td (Total revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 619.07 Td (604,579) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 619.07 Td (569,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 619.07 Td (1,044,031) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 619.07 Td (989,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 606.07 Td (Cost of revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 606.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 582.00 606.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 593.07 Td (Construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 593.07 Td (282,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 593.07 Td (266,721) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 593.07 Td (464,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 593.07 Td (434,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 580.07 Td (Large Project Construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 580.07 Td (183,668) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 580.07 Td (168,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 580.07 Td (365,612) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 580.07 Td (341,183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 567.07 Td (Construction Materials) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 567.07 Td (65,420) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 567.07 Td (69,907) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 567.07 Td (101,129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 567.07 Td (110,533) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.00 554.07 Td (Total cost of revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 554.07 Td (531,378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 554.07 Td (505,042) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 554.07 Td (931,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 554.07 Td (886,362) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 541.23 Td (Gross profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 541.07 Td (73,201) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 541.07 Td (64,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 541.07 Td (112,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 541.07 Td (103,129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 528.07 Td (Selling, general and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 528.07 Td (48,705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 528.07 Td (47,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 528.07 Td (104,838) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 528.07 Td (98,549) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 515.07 Td (Gain on sales of property and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.80 515.12 Td (\(1,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 515.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.30 515.12 Td (\(475) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 515.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 515.12 Td (\(1,966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 515.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.80 515.07 Td (\(1,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 581.65 515.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 502.23 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 502.07 Td (25,862) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 502.07 Td (17,149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 502.07 Td (9,574) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 502.07 Td (5,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 489.07 Td (Other \(income\) expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 489.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 582.00 489.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 476.07 Td (Interest income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.30 476.12 Td (\(798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 476.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.30 476.12 Td (\(528) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 476.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 476.12 Td (\(1,634) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 476.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 563.30 476.07 Td (\(970) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 581.65 476.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 463.07 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 463.07 Td (3,187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 463.07 Td (3,985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 463.07 Td (6,236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 463.07 Td (7,481) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 450.07 Td (Equity in income of affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.30 450.12 Td (\(717) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 450.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.30 450.12 Td (\(670) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 450.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 450.12 Td (\(2,159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 450.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 563.30 450.07 Td (\(607) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 581.65 450.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 437.07 Td (Other income, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.80 437.12 Td (\(3,183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 437.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.30 437.12 Td (\(152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 437.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 437.12 Td (\(4,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 437.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.80 437.07 Td (\(1,436) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 581.65 437.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 424.07 Td (Total other \(income\) expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.80 424.12 Td (\(1,511) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 424.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 424.07 Td (2,635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 424.12 Td (\(2,112) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 424.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 424.07 Td (4,468) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 411.23 Td (Income before provision for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 411.07 Td (27,373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 411.07 Td (14,514) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.15 411.07 Td (11,686) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 411.07 Td (1,398) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 398.07 Td (Provision for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 398.07 Td (8,916) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 398.07 Td (4,975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 398.07 Td (3,739) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 566.65 398.07 Td (469) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 385.23 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 385.07 Td (18,457) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 385.07 Td (9,539) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 385.07 Td (7,947) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 566.65 385.07 Td (929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 372.07 Td (Amount attributable to non-controlling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.80 372.12 Td (\(4,327) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 372.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 372.07 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 372.12 Td (\(5,005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.65 372.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 566.65 372.07 Td (124) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.00 359.18 Td (Net income attributable to Granite) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 81.00 349.18 Td (Construction Incorporated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.00 349.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 349.17 Td (14,130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 349.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 349.17 Td (9,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.00 349.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 349.17 Td (2,942) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.00 349.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 349.17 Td (1,053) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 30.00 322.23 Td (Net income per) Tj ET Q q 0 0 0 rg BT 94.79 322.23 Td ( shar) Tj ET Q q 0 0 0 rg BT 116.01 322.23 Td (e attributable to common shar) Tj ET Q q 0 0 0 rg BT 245.25 322.23 Td (eholders ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.86 322.23 Td (\(see Note 1) Tj ET Q q 0 0 0 rg BT 329.03 322.23 Td (1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 582.00 322.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 309.07 Td (Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.00 309.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 309.07 Td (0.36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 309.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 309.07 Td (0.24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.00 309.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 309.07 Td (0.07) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.00 309.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 564.15 309.07 Td (0.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 296.07 Td (Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.00 296.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 296.07 Td (0.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.00 296.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 296.07 Td (0.24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.00 296.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 296.07 Td (0.07) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.00 296.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 564.15 296.07 Td (0.03) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 30.00 283.23 Td (Weighted average shares of common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 283.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 582.00 283.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 270.07 Td (Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 270.07 Td (39,584) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 270.07 Td (39,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.15 270.07 Td (39,509) Tj ET Q BT 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-15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 368.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 368.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 558.50 368.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 340.50 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 340.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 340.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 340.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 340.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 558.50 340.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 314.50 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 314.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 314.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 314.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 314.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 558.50 314.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 288.50 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 288.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 288.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 288.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 288.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 558.50 288.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 262.50 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 262.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 262.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 262.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 262.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 558.50 262.50 4.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 719.5 m 418.5 719.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 706.5 m 418.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 719.5 m 422.5 719.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 706.5 m 422.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 719.5 m 488.5 719.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 706.5 m 488.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 719.5 m 492.5 719.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 706.5 m 492.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 719.5 m 558.5 719.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 706.5 m 558.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 719.5 m 562.5 719.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 706.5 m 562.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 485.5 m 418.5 485.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 472.5 m 418.5 472.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 485.5 m 422.5 485.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 472.5 m 422.5 472.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 485.5 m 488.5 485.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 472.5 m 488.5 472.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 485.5 m 492.5 485.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 472.5 m 492.5 472.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 485.5 m 558.5 485.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 472.5 m 558.5 472.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 485.5 m 562.5 485.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 472.5 m 562.5 472.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 381.5 m 418.5 381.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 368.5 m 418.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 381.5 m 422.5 381.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 368.5 m 422.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 381.5 m 488.5 381.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 368.5 m 488.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 381.5 m 492.5 381.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 368.5 m 492.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 381.5 m 558.5 381.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 368.5 m 558.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 381.5 m 562.5 381.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 368.5 m 562.5 368.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 301.5 m 488.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 301.5 m 558.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 301.5 m 418.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 288.5 m 418.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 301.5 m 422.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 288.5 m 422.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 301.5 m 488.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 288.5 m 488.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 301.5 m 492.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 288.5 m 492.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 301.5 m 558.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 288.5 m 558.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 301.5 m 562.5 301.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 288.5 m 562.5 288.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 262.5 m 418.5 262.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 262.5 m 422.5 262.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 262.5 m 488.5 262.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 262.5 m 492.5 262.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 262.5 m 558.5 262.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 250.5 m 418.5 250.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 248.5 m 418.5 248.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 250.5 m 422.5 250.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 248.5 m 422.5 248.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 250.5 m 488.5 250.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 248.5 m 488.5 248.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 250.5 m 492.5 250.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 248.5 m 492.5 248.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 250.5 m 558.5 250.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 248.5 m 558.5 248.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 262.5 m 562.5 262.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 250.5 m 562.5 250.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 248.5 m 562.5 248.5 l s BT /F2 12.00 Tf ET q 0 0 0 rg BT 163.55 753.87 Td (GRANITE CONSTRUCTION INCORPORATED) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 112.50 738.87 Td (CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.45 724.17 Td (\() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 241.78 724.17 Td (Unaudited - in thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.17 724.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 30.00 710.23 Td (Six Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.00 710.23 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.00 710.23 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 697.07 Td (Operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 697.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 697.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 684.07 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 684.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 684.07 Td (7,947) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 684.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 684.07 Td (929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 671.07 Td (Adjustments to reconcile net income to net cash used in operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.00 671.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 658.07 Td (Depreciation, depletion and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 658.07 Td (29,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 658.07 Td (31,331) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 645.07 Td (Gain on sales of property and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 645.12 Td (\(1,966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 645.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.80 645.07 Td (\(1,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 645.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 632.07 Td (Stock-based compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 632.07 Td (8,563) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 632.07 Td (4,992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 619.07 Td (Equity in net income from unconsolidated joint ventures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 619.12 Td (\(5,688) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 619.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 619.07 Td (\(18,547) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 619.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 606.07 Td (Gain on real estate entity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 606.12 Td (\(2,452) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 606.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.65 606.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 593.07 Td (Changes in assets and liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.00 593.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 580.07 Td (Receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 580.12 Td (\(87,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 580.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 580.07 Td (\(54,262) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 580.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 567.07 Td (Costs and estimated earnings in excess of billings, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 567.12 Td (\(30,645) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 567.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 567.07 Td (\(22,958) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 567.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 554.07 Td (Inventories) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 554.12 Td (\(9,158) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 554.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.80 554.07 Td (\(2,102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 554.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 541.07 Td (Contributions to unconsolidated construction joint ventures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 541.12 Td (\(8,018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 541.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 541.07 Td (\(40,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 541.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 528.07 Td (Distributions from unconsolidated construction joint ventures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 528.07 Td (5,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 528.07 Td (22,020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 515.07 Td (Other assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 515.12 Td (\(7,544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 515.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 515.07 Td (923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 502.07 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 502.07 Td (47,529) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 502.07 Td (21,861) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 489.07 Td (Accrued expenses and other current liabilities, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.30 489.12 Td (\(158) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 489.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 489.07 Td (1,186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 476.07 Td (Net cash used inoperating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 476.12 Td (\(53,929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 476.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 476.07 Td (\(56,663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 476.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 463.07 Td (Investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 463.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.00 463.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 450.07 Td (Purchases of marketable securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 450.12 Td (\(29,894) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 450.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 450.07 Td (\(29,974) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 450.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 437.07 Td (Maturities of marketable securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 437.07 Td (20,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 437.07 Td (16,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 424.07 Td (Proceeds from called marketable securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 424.07 Td (35,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 424.07 Td (30,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 411.07 Td (Purchases of property and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 411.12 Td (\(48,837) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 411.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 411.07 Td (\(16,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 411.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 398.07 Td (Proceeds from sales of property and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 398.07 Td (2,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 398.07 Td (2,062) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 385.07 Td (Other investing activities, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.30 385.12 Td (\(128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 385.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 385.07 Td (912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 372.07 Td (Net cash \(used in\) provided by investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 372.12 Td (\(21,349) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 372.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 372.07 Td (3,548) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 358.17 Td (Financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 358.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.00 358.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 344.07 Td (Long-term debt principal repayments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 344.12 Td (\(2,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 344.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.30 344.07 Td (\(306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 344.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 331.07 Td (Cash dividends paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 331.12 Td (\(10,267) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 331.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 331.07 Td (\(10,208) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 331.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 318.07 Td (Repurchases of common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 318.12 Td (\(4,845) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 318.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.80 318.07 Td (\(3,291) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 318.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 48.00 305.07 Td (Other financing activities, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 305.07 Td (1,272) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.30 305.07 Td (\(894) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 305.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 292.07 Td (Net cash used in financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 292.12 Td (\(16,340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 292.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 292.07 Td (\(14,699) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 292.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 279.07 Td (Decrease in cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 279.12 Td (\(91,618) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 279.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.80 279.07 Td (\(67,814) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 279.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 266.07 Td (Cash and cash equivalents at beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 266.07 Td (252,836) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.15 266.07 Td (255,961) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 253.07 Td (Cash and cash equivalents at end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 253.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 253.07 Td (161,218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 253.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.15 253.07 Td (188,147) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 226.50 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 226.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 226.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 226.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 226.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 558.50 226.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 200.50 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 200.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 200.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 200.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 200.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 558.50 200.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 174.50 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 174.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 174.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 174.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 174.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 558.50 174.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 148.50 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 148.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 148.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 148.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 148.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 558.50 148.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 27.50 122.50 391.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 122.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.50 122.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 122.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 122.50 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 558.50 122.50 4.00 -13.00 re f /GS0 gs BT /F1 10.00 Tf ET q 0 0 0 rg BT 30.00 230.07 Td (Supplementary Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 230.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 230.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 217.07 Td (Cash paid during the period for:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 217.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 217.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 204.07 Td (Interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 204.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 204.07 Td (6,911) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 204.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 204.07 Td (7,220) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 191.07 Td (Income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 191.07 Td (6,438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.65 191.07 Td (412) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 178.07 Td (Other non-cash operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 165.07 Td (Performance guarantees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 165.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 165.07 Td (11,247) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 165.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.80 165.07 Td (\(9,590) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 165.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 152.07 Td (Non-cash investing and financing activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 152.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.00 152.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 139.07 Td (Restricted stock units issued, net of forfeitures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 139.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 139.07 Td (21,013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 139.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 139.07 Td (6,135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 126.07 Td (Accrued cash dividends) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 126.07 Td (5,148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 126.07 Td (5,118) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 113.07 Td (Accrued equipment purchases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 113.12 Td (\(5,823) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 113.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 113.07 Td (3,324) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 98.00 Td (The accompanying notes are an integral part of these condensed consolidated financial statements.) Tj ET Q endstream endobj 15 0 obj <>] /Rotate 0 /Contents 16 0 R>> endobj 16 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 177.05 759.60 Td (GRANITE CONSTRUCTION INCORPORA) Tj ET Q q 0 0 0 rg BT 410.18 759.60 Td (TED) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 95.90 745.20 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 139.36 745.20 Td (T) Tj ET Q q 0 0 0 rg BT 147.15 745.20 Td (O ) Tj ET Q q 0 0 0 rg BT 159.27 745.20 Td (THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 337.75 745.20 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 432.76 745.20 Td ( ST) Tj ET Q q 0 0 0 rg BT 449.55 745.20 Td (A) Tj ET Q q 0 0 0 rg BT 457.32 745.20 Td (TEMENTS) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 276.65 730.80 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (7) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 30.100000000000023 m 176.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 30.100000000000023 m 304.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 30.100000000000023 m 432.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 30.100000000000023 m 560.5 30.100000000000023 l s BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 694.70 Td (1. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 694.70 Td (Basis of Pr) Tj ET Q q 0 0 0 rg BT 108.93 694.70 Td (esentation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 676.70 Td (The condensed consolidated financial statements included herein have been prepared by Granite Construction Incorporated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 664.70 Td (\(we, us, our) Tj ET Q q 0 0 0 rg BT 132.00 664.70 Td (, the Companyor Granite\) and are unaudited, pursuant to the rules and regulations of the Securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 652.70 Td (and Exchange Commission \(SEC\) and should be read in conjunction with our ) Tj ET Q q 0 0 0 rg BT 384.61 652.70 Td (Annual Report on Form 10-K for the year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 640.70 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.38 640.70 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.96 640.70 Td (.Certain information and footnote disclosures normally included in financial statements prepared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 628.70 Td (in accordance with accounting principles generally accepted in the United States of ) Tj ET Q q 0 0 0 rg BT 397.87 628.70 Td (America \(U.S. GAAP\) have been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 616.70 Td (condensed or omitted. Further) Tj ET Q q 0 0 0 rg BT 183.13 616.70 Td (, the condensed consolidated financial statements reflect, in the opinion of management, all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 604.70 Td (normal recurring adjustments necessary to state fairly our financial position at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.62 604.70 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.45 604.70 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.89 604.70 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.89 604.70 Td ( and the results of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 592.70 Td (operations and cash flows for the periods presented. ) Tj ET Q q 0 0 0 rg BT 273.03 592.70 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.08 592.70 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.67 592.70 Td ( condensed consolidated balance sheet data was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 580.70 Td (derived from audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP) Tj ET Q q 0 0 0 rg BT 524.56 580.70 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 562.70 Td (Our operations are typically af) Tj ET Q q 0 0 0 rg BT 184.99 562.70 Td (fected more by weather conditions during the first and fourth quarters of our fiscal year which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 550.70 Td (may alter our construction schedules and can create variability in our revenues and profitability) Tj ET Q q 0 0 0 rg BT 443.60 550.70 Td (. ) Tj ET Q q 0 0 0 rg BT 448.42 550.70 Td (Therefore, the results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 538.70 Td (operations for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.03 538.70 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.02 538.70 Td ( and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.95 538.70 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.78 538.70 Td ( are not necessarily indicative of the results to be expected for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 526.70 Td (the full year) Tj ET Q q 0 0 0 rg BT 110.76 526.70 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 509.70 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 509.70 Td (e prepared the accompanying condensed consolidated financial statements on the same basis as our annual consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 497.70 Td (financial statements, except for the addition of the condensed consolidated statements of comprehensive income. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 485.70 Td (addition, during the six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.59 485.70 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.42 485.70 Td (, we adopted ) Tj ET Q q 0 0 0 rg BT 325.19 485.70 Td (Accounting Standards Update \(ASU\) No. 2015-02, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 473.70 Td (Consolidation \(T) Tj ET Q q 0 0 0 rg BT 130.15 473.70 Td (opic 810\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.20 473.70 Td (,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 170.70 473.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.20 473.70 Td (ASU) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 193.20 473.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.70 473.70 Td (No. 2015-03, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 251.25 473.70 Td (Inter) Tj ET Q q 0 0 0 rg BT 270.32 473.70 Td (est - Imputation of Inter) Tj ET Q q 0 0 0 rg BT 365.49 473.70 Td (est \(Subtopic 835-30\): Simplifying the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 461.70 Td (Pr) Tj ET Q q 0 0 0 rg BT 72.63 461.70 Td (esentation of Debt Issuance Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.17 461.70 Td (, ) Tj ET Q q 0 0 0 rg BT 212.62 461.70 Td (ASU No. 2015-05, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 290.68 461.70 Td (Intangibles - Goodwill and Other - Internal-Use Softwar) Tj ET Q q 0 0 0 rg BT 517.23 461.70 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.67 461.70 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.17 461.70 Td (\(Subtopic ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 449.70 Td (350-40\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.16 449.70 Td (and) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 111.60 449.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.10 449.70 Td (ASU No. 2015-15) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 187.16 449.70 Td (, Pr) Tj ET Q q 0 0 0 rg BT 201.78 449.70 Td (esentation and Subsequent Measur) Tj ET Q q 0 0 0 rg BT 341.12 449.70 Td (ement of Debt Issuance Costs ) Tj ET Q q 0 0 0 rg BT 461.75 449.70 Td (Associated with Line-of-) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 437.70 Td (Cr) Tj ET Q q 0 0 0 rg BT 73.19 437.70 Td (edit ) Tj ET Q q 0 0 0 rg BT 90.50 437.70 Td (Arrangements, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.17 437.70 Td (none of which had a material impact on our condensed consolidated financial statements. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 419.70 Td (Reclassifications: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.60 419.70 Td (Certain reclassifications have been made to prior periods to conform to current year presentation. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 401.70 Td (2. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 401.70 Td (Recently Issued ) Tj ET Q q 0 0 0 rg BT 131.89 401.70 Td (Accounting Pr) Tj ET Q q 0 0 0 rg BT 193.65 401.70 Td (onouncements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 383.70 Td (In May 2014, the Financial ) Tj ET Q q 0 0 0 rg BT 173.54 383.70 Td (Accounting Standards Board \(F) Tj ET Q q 0 0 0 rg BT 304.16 383.70 Td (ASB\) issued ) Tj ET Q q 0 0 0 rg BT 360.83 383.70 Td (ASU No. 2014-09, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 438.88 383.70 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 481.54 383.70 Td (om Contracts with ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 371.70 Td (Customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.78 371.70 Td (, which provides guidance for revenue recognition and allows for both retrospective and prospective methods of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 359.70 Td (adoption. ) Tj ET Q q 0 0 0 rg BT 102.81 359.70 Td (This ) Tj ET Q q 0 0 0 rg BT 122.54 359.70 Td (ASU) Tj ET Q q 0 0 0 rg BT 145.32 359.70 Td (s core principle is that a company will recognize revenue when it transfers promised goods or services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 347.70 Td (to customers in an amount that reflects consideration to which the company expects to be entitled in exchange for those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 335.70 Td (goods or services. In ) Tj ET Q q 0 0 0 rg BT 147.71 335.70 Td (August 2015, the F) Tj ET Q q 0 0 0 rg BT 223.63 335.70 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 272.54 335.70 Td (ASU No. 2015-14, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 350.59 335.70 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 393.25 335.70 Td (om Contracts with Customers, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.43 335.70 Td (which) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 541.87 335.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 323.70 Td (deferred the ef) Tj ET Q q 0 0 0 rg BT 121.11 323.70 Td (fective date by one year to December 15, 2017 for interim and annual reporting periods beginning after that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 311.70 Td (date. In March 2016, the F) Tj ET Q q 0 0 0 rg BT 168.62 311.70 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 217.52 311.70 Td (ASU No. 2016-08, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 295.58 311.70 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 338.24 311.70 Td (om Contracts with Customers \(T) Tj ET Q q 0 0 0 rg BT 467.89 311.70 Td (opic 606\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.27 311.70 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 511.77 311.70 Td (Principal ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 299.70 Td (versus ) Tj ET Q q 0 0 0 rg BT 90.87 299.70 Td (Agent Considerations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.81 299.70 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 180.31 299.70 Td (\(Reporting Revenue Gr) Tj ET Q q 0 0 0 rg BT 273.24 299.70 Td (oss versus Net\),) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 299.70 Td ( which requires an entity to determine whether the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 287.70 Td (nature of its promise is to provide a good or service to the customer \(i.e., the entity is a principal\) or to arrange for the good ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 275.70 Td (or service to be provided to the customer by the other party \(i.e., the entity is an agent\). In ) Tj ET Q q 0 0 0 rg BT 424.28 275.70 Td (April, 2016 the F) Tj ET Q q 0 0 0 rg BT 492.42 275.70 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 541.33 275.70 Td (ASU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 263.70 Td (No. 2016-10, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 118.55 263.70 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 161.21 263.70 Td (om Contracts with Customers \(T) Tj ET Q q 0 0 0 rg BT 290.87 263.70 Td (opic 606\): Identifying Performance Obligations and Licensing, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 251.70 Td (which clarifies the following two aspects of ) Tj ET Q q 0 0 0 rg BT 240.27 251.70 Td (T) Tj ET Q q 0 0 0 rg BT 245.68 251.70 Td (opic 606: \(a\)identifying performance obligations, and \(b\)the licensing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 239.70 Td (implementation guidance. In May) Tj ET Q q 0 0 0 rg BT 197.87 239.70 Td (, 2016 the F) Tj ET Q q 0 0 0 rg BT 244.90 239.70 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 293.81 239.70 Td (ASU No. 2016-12 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 369.36 239.70 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 412.02 239.70 Td (om Contracts with Customers \(T) Tj ET Q q 0 0 0 rg BT 541.68 239.70 Td (opic ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 227.70 Td (606\): Narr) Tj ET Q q 0 0 0 rg BT 106.24 227.70 Td (ow-Scope Impr) Tj ET Q q 0 0 0 rg BT 166.69 227.70 Td (ovements and Practical Expedients, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.48 227.70 Td (which clarifies guidance in certain narrow areas and adds a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 215.70 Td (practical expedient for certain aspects of the guidance. ) Tj ET Q q 0 0 0 rg BT 282.99 215.70 Td (The amendments do not change the core principle of the guidance in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 203.70 Td (ASU 2014-09. ) Tj ET Q q 0 0 0 rg BT 123.65 203.70 Td (These ) Tj ET Q q 0 0 0 rg BT 149.48 203.70 Td (ASUs will be ef) Tj ET Q q 0 0 0 rg BT 213.46 203.70 Td (fective commencing with our quarter ending March 31, 2018. ) Tj ET Q q 0 0 0 rg BT 462.37 203.70 Td (W) Tj ET Q q 0 0 0 rg BT 471.01 203.70 Td (e are currently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 191.70 Td (assessing the potential impact of these ) Tj ET Q q 0 0 0 rg BT 217.97 191.70 Td (ASUs on our consolidated financial statements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 173.70 Td (In January 2016, the F) Tj ET Q q 0 0 0 rg BT 151.96 173.70 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 200.87 173.70 Td (ASU No. 2016-01, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 278.92 173.70 Td (Financial Instruments - Overall \(Subtopic 825-10\): Recognition and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 161.70 Td (Measur) Tj ET Q q 0 0 0 rg BT 93.18 161.70 Td (ement of Financial ) Tj ET Q q 0 0 0 rg BT 171.04 161.70 Td (Assets and Financial Liabilities, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.98 161.70 Td (which, among other things, eliminates the requirement for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 149.70 Td (public business entities to disclose the method\(s\) and significant assumptions used to estimate the fair value that is required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 137.70 Td (to be disclosed for financial instruments measured at amortized cost on the balance sheet. ) Tj ET Q q 0 0 0 rg BT 422.98 137.70 Td (This ) Tj ET Q q 0 0 0 rg BT 442.70 137.70 Td (ASU will be ef) Tj ET Q q 0 0 0 rg BT 502.79 137.70 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 125.70 Td (commencing with our quarter ending March 31, 2017. ) Tj ET Q q 0 0 0 rg BT 282.21 125.70 Td (W) Tj ET Q q 0 0 0 rg BT 290.85 125.70 Td (e do not expect the adoption of this ) Tj ET Q q 0 0 0 rg BT 433.60 125.70 Td (ASU to have a material impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 113.70 Td (on our consolidated financial statements.) Tj ET Q endstream endobj 17 0 obj <>] /Rotate 0 /Contents 18 0 R>> endobj 18 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 177.05 759.60 Td (GRANITE CONSTRUCTION INCORPORA) Tj ET Q q 0 0 0 rg BT 410.18 759.60 Td (TED) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.25 745.20 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 97.71 745.20 Td (T) Tj ET Q q 0 0 0 rg BT 105.50 745.20 Td (O ) Tj ET Q q 0 0 0 rg BT 117.62 745.20 Td (THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 296.10 745.20 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 391.11 745.20 Td ( ST) Tj ET Q q 0 0 0 rg BT 407.90 745.20 Td (A) Tj ET Q q 0 0 0 rg BT 415.67 745.20 Td (TEMENTS - CONTINUED) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 276.65 730.80 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (8) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 30.100000000000023 m 176.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 30.100000000000023 m 304.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 30.100000000000023 m 432.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 30.100000000000023 m 560.5 30.100000000000023 l s BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 708.60 Td (In February 2016, the F) Tj ET Q q 0 0 0 rg BT 156.96 708.60 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 205.87 708.60 Td (ASU No. 2016-02, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 283.92 708.60 Td (Leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.14 708.60 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 313.64 708.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 321.62 708.60 Td (opic 842\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.67 708.60 Td (which requires lessees to recognize the following ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 696.60 Td (for all leases \(with the exception of short-term leases\) at the commencement date: \(a\) a lease liability) Tj ET Q q 0 0 0 rg BT 466.08 696.60 Td (, which is a lessee) Tj ET Q q 0 0 0 rg BT 540.78 696.60 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 684.60 Td (obligation to make lease payments arising from a lease, measured on a discounted basis; and \(b\) a right-of-use asset, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 672.60 Td (is an asset that represents the lessee) Tj ET Q q 0 0 0 rg BT 207.95 672.60 Td (s right to use, or control the use of, a specified asset for the lease term. ) Tj ET Q q 0 0 0 rg BT 491.85 672.60 Td (The ) Tj ET Q q 0 0 0 rg BT 509.34 672.60 Td (ASU will be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 660.60 Td (ef) Tj ET Q q 0 0 0 rg BT 70.59 660.60 Td (fective commencing with our quarter ending March 31, 2019. ) Tj ET Q q 0 0 0 rg BT 319.50 660.60 Td (W) Tj ET Q q 0 0 0 rg BT 328.14 660.60 Td (e are currently assessing the potential impact of this ) Tj ET Q q 0 0 0 rg BT 537.24 660.60 Td (ASU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 648.60 Td (on our consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 630.60 Td (In March 2016, the F) Tj ET Q q 0 0 0 rg BT 146.96 630.60 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 195.87 630.60 Td (ASU No. 2016-05, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 273.92 630.60 Td (Derivatives and Hedging \(T) Tj ET Q q 0 0 0 rg BT 384.93 630.60 Td (opic 815\): Effect of Derivative Contract ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 618.60 Td (Novations on Existing Hedge ) Tj ET Q q 0 0 0 rg BT 182.25 618.60 Td (Accounting Relationships, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.73 618.60 Td (which) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 314.17 618.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.67 618.60 Td (clarifies that a change in the counterparty to a derivative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 606.60 Td (instrument that has been designated as a hedging instrument does not, in and of itself, require de-designation of that hedging ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 594.60 Td (relationship provided that all other hedge accounting criteria continue to be met. ) Tj ET Q q 0 0 0 rg BT 386.32 594.60 Td (This ) Tj ET Q q 0 0 0 rg BT 406.05 594.60 Td (ASU will be ef) Tj ET Q q 0 0 0 rg BT 466.13 594.60 Td (fective commencing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 582.60 Td (with our quarter ending March 31, 2017. ) Tj ET Q q 0 0 0 rg BT 228.06 582.60 Td (W) Tj ET Q q 0 0 0 rg BT 236.70 582.60 Td (e do not expect any changes in the counterparty to our cash flow hedge and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 570.60 Td (therefore do not expect the adoption of this ) Tj ET Q q 0 0 0 rg BT 237.39 570.60 Td (ASU to have a material impact on our consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 552.60 Td (In March 2016, the F) Tj ET Q q 0 0 0 rg BT 146.96 552.60 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 195.87 552.60 Td (ASU No. 2016-09, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 273.92 552.60 Td (Compensation - Stock Compensation \(T) Tj ET Q q 0 0 0 rg BT 432.44 552.60 Td (opic 718\): Impr) Tj ET Q q 0 0 0 rg BT 495.39 552.60 Td (ovements to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 540.60 Td (Employe) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.99 540.60 Td (e ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 104.92 540.60 Td (Shar) Tj ET Q q 0 0 0 rg BT 123.44 540.60 Td (e-Based Payment ) Tj ET Q q 0 0 0 rg BT 195.46 540.60 Td (Accounting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 540.60 Td (. ) Tj ET Q q 0 0 0 rg BT 245.82 540.60 Td (This ) Tj ET Q q 0 0 0 rg BT 265.54 540.60 Td (ASU identifies areas for simplification involving several aspects of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 528.60 Td (accounting for share-based payment transactions, including the income tax consequences, classification of awards as either ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 516.60 Td (equity or liabilities, an option to recognize gross stock compensation expense with actual forfeitures recognized as they ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 504.60 Td (occur) Tj ET Q q 0 0 0 rg BT 84.81 504.60 Td (, as well as certain classifications on the statement of cash flows. ) Tj ET Q q 0 0 0 rg BT 346.21 504.60 Td (This ) Tj ET Q q 0 0 0 rg BT 365.94 504.60 Td (ASU will be ef) Tj ET Q q 0 0 0 rg BT 426.03 504.60 Td (fective commencing with our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 492.60 Td (quarter ending March 31, 2017. ) Tj ET Q q 0 0 0 rg BT 191.95 492.60 Td (W) Tj ET Q q 0 0 0 rg BT 200.59 492.60 Td (e are currently assessing the potential impact of this ) Tj ET Q q 0 0 0 rg BT 409.69 492.60 Td (ASU on our consolidated financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 480.60 Td (statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 462.60 Td (In June 2016, the F) Tj ET Q q 0 0 0 rg BT 139.20 462.60 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 188.10 462.60 Td (ASU No. 2016-13, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 266.15 462.60 Td (Financial Instruments - Cr) Tj ET Q q 0 0 0 rg BT 373.28 462.60 Td (edit Losses \(T) Tj ET Q q 0 0 0 rg BT 427.92 462.60 Td (opic 326\): Measur) Tj ET Q q 0 0 0 rg BT 501.98 462.60 Td (ement of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 450.60 Td (Cr) Tj ET Q q 0 0 0 rg BT 73.19 450.60 Td (edit Losses on Financial Instruments. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.96 450.60 Td (The ) Tj ET Q q 0 0 0 rg BT 243.46 450.60 Td (ASU requires the measurement of all expected credit losses for financial assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 438.60 Td (held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. ) Tj ET Q q 0 0 0 rg BT 537.37 438.60 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 426.60 Td (ASU will be ef) Tj ET Q q 0 0 0 rg BT 123.09 426.60 Td (fective commencing with our quarter ending March 31, 2020. ) Tj ET Q q 0 0 0 rg BT 372.00 426.60 Td (W) Tj ET Q q 0 0 0 rg BT 380.64 426.60 Td (e do not expect the adoption of this ) Tj ET Q q 0 0 0 rg BT 523.39 426.60 Td (ASU to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 414.60 Td (have a material impact on our consolidated financial statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 396.60 Td (3. ) Tj ET Q q 0 0 0 rg BT 63.00 396.60 Td (Revisions inEstimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 378.60 Td (Our profit recognition related to construction contracts is based on estimates of costs to complete each project. ) Tj ET Q q 0 0 0 rg BT 507.13 378.60 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 366.60 Td (estimatescan vary significantly in the normal course of business as projects progress, circumstances develop and evolve, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 354.60 Td (and uncertainties are resolved.) Tj ET Q q 0 0 0 rg BT 186.93 354.60 Td (When we experience significant changes in our estimates of costs to complete, we under) Tj ET Q q 0 0 0 rg BT 540.51 354.60 Td (go a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 342.60 Td (process that includes reviewing the nature of the changes to ensure that there are no material amounts that should have been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 330.60 Td (recorded in a prior period rather than as revisions in estimates for the current period. In our review of these changes for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 318.60 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.99 318.60 Td ( and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.92 318.60 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.75 318.60 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.19 318.60 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.19 318.60 Td (, we did not identify any material amounts that should have been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 306.60 Td (recorded in a prior period. ) Tj ET Q q 0 0 0 rg BT 170.00 306.60 Td (W) Tj ET Q q 0 0 0 rg BT 178.63 306.60 Td (e use the cumulative catch-upmethod applicable to construction contract accounting to account ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 294.60 Td (for revisions in estimates.Under this method, revisions in estimates are accounted for in their entirety in the period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 282.60 Td (change.) Tj ET Q q 0 0 0 rg BT 96.13 282.60 Td (There can be no assurance that we will not experience further changes in circumstances or otherwise be required to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 270.60 Td (further revise our cost estimates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 252.60 Td (Revenue in an amount equal to cost incurred is recognized if there is not suf) Tj ET Q q 0 0 0 rg BT 367.17 252.60 Td (ficient information to determine the estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 240.60 Td (profit on the projectwith a reasonable level of certainty) Tj ET Q q 0 0 0 rg BT 284.76 240.60 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 222.60 Td (Revisions in estimates for the three and six months ended June30, 2016 included an increase in revenue and gross profit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 210.60 Td ($17.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.89 210.60 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.33 210.60 Td ($20.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.22 210.60 Td (, respectively) Tj ET Q q 0 0 0 rg BT 242.88 210.60 Td (, related to the estimated recovery of customer af) Tj ET Q q 0 0 0 rg BT 438.45 210.60 Td (firmative claims. Revenue and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 198.60 Td (gross profit was also af) Tj ET Q q 0 0 0 rg BT 155.58 198.60 Td (fected by an increase in estimated contract costs that were in excess of the estimated recovery for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 186.60 Td ($15.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.89 186.60 Td ( of the total during both the three and six month periods ended June30, 2016. ) Tj ET Q q 0 0 0 rg BT 429.43 186.60 Td (There were no material changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 174.60 Td (to estimated contract costs on the remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.56 174.60 Td ($2.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.45 174.60 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.89 174.60 Td ($4.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.78 174.60 Td ( for the three and six months ended June30, 2016, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 162.60 Td (respectively) Tj ET Q q 0 0 0 rg BT 110.66 162.60 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 140.60 Td (Revisions in estimates during the six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.76 140.60 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.59 140.60 Td ( included an increase in revenue and gross profit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.74 140.60 Td ($9.7 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 128.60 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.89 128.60 Td ( related to the estimated recovery of customer af) Tj ET Q q 0 0 0 rg BT 284.96 128.60 Td (firmative claims for which there was no material associated cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 116.60 Td (during the respective periods. ) Tj ET Q q 0 0 0 rg BT 183.62 116.60 Td (There was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.48 116.60 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.48 116.60 Td ( revenue or gross profit associated with customer af) Tj ET Q q 0 0 0 rg BT 443.90 116.60 Td (firmative claims during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 104.60 Td (three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.81 104.60 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.64 104.60 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 86.60 Td (Revisions in estimates for both the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.09 86.60 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.08 86.60 Td ( and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.01 86.60 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.84 86.60 Td ( included an increase in gross profit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.91 86.60 Td ($7.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 74.60 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.89 74.60 Td ( related to the estimated recovery of back char) Tj ET Q q 0 0 0 rg BT 276.62 74.60 Td (ge claims. ) Tj ET Q q 0 0 0 rg BT 319.48 74.60 Td (There was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.35 74.60 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.35 74.60 Td ( estimated recovery of back char) Tj ET Q q 0 0 0 rg BT 503.38 74.60 Td (ge claims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 62.60 Td (during the three and six months ended June30, 2015. ) Tj ET Q endstream endobj 19 0 obj <>] /Rotate 0 /Contents 20 0 R>> endobj 20 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 177.05 759.60 Td (GRANITE CONSTRUCTION INCORPORA) Tj ET Q q 0 0 0 rg BT 410.18 759.60 Td (TED) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.25 745.20 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 97.71 745.20 Td (T) Tj ET Q q 0 0 0 rg BT 105.50 745.20 Td (O ) Tj ET Q q 0 0 0 rg BT 117.62 745.20 Td (THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 296.10 745.20 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 391.11 745.20 Td ( ST) Tj ET Q q 0 0 0 rg BT 407.90 745.20 Td (A) Tj ET Q q 0 0 0 rg BT 415.67 745.20 Td (TEMENTS - CONTINUED) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 276.65 730.80 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 33.60 Td (9) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 30.100000000000023 m 176.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 30.100000000000023 m 304.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 30.100000000000023 m 432.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 30.100000000000023 m 560.5 30.100000000000023 l s BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 708.25 Td (Construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 690.25 Td (The changes in project profitability from revisions in estimates, both increases and decreases that individually had an impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 678.25 Td (of $1.0 million or more on gross profit were decreases of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.49 678.25 Td ($1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.38 678.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.82 678.25 Td ($2.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.71 678.25 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.09 678.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.08 678.25 Td ( and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 666.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.83 666.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 171.49 666.25 Td (. ) Tj ET Q q 0 0 0 rg BT 176.31 666.25 Td (There were no increases in project profitability from revisions in estimates that individually had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 654.25 Td (an impact of $1.0 million or more on gross profit for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.46 654.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.44 654.25 Td ( and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.38 654.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.21 654.25 Td (. ) Tj ET Q q 0 0 0 rg BT 463.02 654.25 Td (The net changes for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 642.25 Td (three and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.92 642.25 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.75 642.25 Td (, were net decreases of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.03 642.25 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.92 642.25 Td ( and net increases of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.05 642.25 Td ($4.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.94 642.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 558.61 642.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 630.25 Td (The projects are summarized as follows:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 612.25 Td (Incr) Tj ET Q q 0 0 0 rg BT 81.15 612.25 Td (eases ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 573.75 232.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.50 573.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 573.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 573.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 573.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 573.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 573.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 573.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 573.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 573.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 573.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 573.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 547.75 232.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.50 547.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 547.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 547.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 547.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 547.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 547.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 547.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 547.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 547.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 547.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 547.75 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 601.75 m 295.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 295.5 601.75 m 303.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 295.5 586.75 m 303.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 601.75 m 359.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 586.75 m 359.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 601.75 m 363.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 586.75 m 363.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 601.75 m 371.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 586.75 m 371.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 601.75 m 427.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 586.75 m 427.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 601.75 m 431.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 586.75 m 431.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 601.75 m 439.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 586.75 m 439.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 601.75 m 495.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 586.75 m 495.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 601.75 m 499.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 586.75 m 499.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 601.75 m 507.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 586.75 m 507.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 601.75 m 563.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 586.75 m 563.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 573.75 m 295.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 295.5 573.75 m 303.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 573.75 m 359.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 573.75 m 363.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 573.75 m 371.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 573.75 m 427.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 573.75 m 431.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 573.75 m 439.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 573.75 m 495.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 573.75 m 499.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 573.75 m 507.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 573.75 m 563.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 573.75 m 295.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 295.5 573.75 m 303.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 573.75 m 359.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 573.75 m 363.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 573.75 m 371.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 573.75 m 427.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 573.75 m 431.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 573.75 m 439.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 573.75 m 495.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 573.75 m 499.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 573.75 m 507.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 573.75 m 563.5 573.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 591.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.45 591.43 Td (Thr) Tj ET Q q 0 0 0 rg BT 314.94 591.43 Td (ee Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.50 591.43 Td (Six Months Ended June 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 577.31 Td (\(dollars in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.00 577.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.00 577.48 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.00 577.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.00 577.48 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 564.32 Td (Number of projects with upward estimate changes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 564.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 564.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 564.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 564.32 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 551.32 Td (Range of increase in gross profit from each project, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.50 551.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 551.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.50 551.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 551.32 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.50 551.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 551.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 551.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 551.32 Td (1.0 - 2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 538.32 Td (Increaseon project profitability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.50 538.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 538.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.50 538.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 538.32 Td (1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.50 538.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 538.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 538.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 538.32 Td (6.9) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 517.25 Td (The increases during the three and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.44 517.25 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.27 517.25 Td ( were due to owner) Tj ET Q q 0 0 0 rg BT 407.70 517.25 Td (-directed scope changes and estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 505.25 Td (cost recovery from claims. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 487.25 Td (Decr) Tj ET Q q 0 0 0 rg BT 83.36 487.25 Td (eases) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 448.75 232.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.50 448.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 448.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 448.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 448.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 448.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 448.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 448.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 448.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 448.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 448.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 448.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 422.75 232.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.50 422.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 422.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 422.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 422.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 422.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 422.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 422.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 422.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 422.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 422.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 422.75 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 476.75 m 295.5 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 295.5 476.75 m 303.5 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 295.5 461.75 m 303.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 476.75 m 359.5 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 461.75 m 359.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 476.75 m 363.5 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 461.75 m 363.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 476.75 m 371.5 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 461.75 m 371.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 476.75 m 427.5 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 461.75 m 427.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 476.75 m 431.5 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 461.75 m 431.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 476.75 m 439.5 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 461.75 m 439.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 476.75 m 495.5 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 461.75 m 495.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 476.75 m 499.5 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 461.75 m 499.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 476.75 m 507.5 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 461.75 m 507.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 476.75 m 563.5 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 461.75 m 563.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 448.75 m 295.5 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 295.5 448.75 m 303.5 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 448.75 m 359.5 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 448.75 m 363.5 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 448.75 m 371.5 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 448.75 m 427.5 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 448.75 m 431.5 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 448.75 m 439.5 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 448.75 m 495.5 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 448.75 m 499.5 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 448.75 m 507.5 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 448.75 m 563.5 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 448.75 m 359.5 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 448.75 m 427.5 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 448.75 m 495.5 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 448.75 m 563.5 448.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 466.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.45 466.43 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.50 466.43 Td (Six Months Ended June 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 452.31 Td (\(dollars in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.00 452.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.00 452.48 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.00 452.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.00 452.48 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 439.32 Td (Number of projects with downward estimate changes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 439.32 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 439.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 439.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 439.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 426.32 Td (Range of reduction in gross profit from each project, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.50 426.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.15 426.32 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.50 426.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 426.32 Td (1.1 - 1.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.50 426.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 426.32 Td (1.2 - 1.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 426.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 426.32 Td (1.2 - 1.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 413.32 Td (Decreaseon project profitability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.50 413.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.15 413.32 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.50 413.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 413.32 Td (2.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.50 413.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 413.32 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 413.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 413.32 Td (2.6) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 392.25 Td (The decreases during the three and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.10 392.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.93 392.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.37 392.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.37 392.25 Td ( were due to additional costs and lower ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 380.25 Td (productivity than originally anticipated.) Tj ET Q endstream endobj 21 0 obj <>] /Rotate 0 /Contents 22 0 R>> endobj 22 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 177.05 759.60 Td (GRANITE CONSTRUCTION INCORPORA) Tj ET Q q 0 0 0 rg BT 410.18 759.60 Td (TED) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.25 745.20 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 97.71 745.20 Td (T) Tj ET Q q 0 0 0 rg BT 105.50 745.20 Td (O ) Tj ET Q q 0 0 0 rg BT 117.62 745.20 Td (THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 296.10 745.20 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 391.11 745.20 Td ( ST) Tj ET Q q 0 0 0 rg BT 407.90 745.20 Td (A) Tj ET Q q 0 0 0 rg BT 415.67 745.20 Td (TEMENTS - CONTINUED) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 276.65 730.80 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (10) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 30.100000000000023 m 176.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 30.100000000000023 m 304.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 30.100000000000023 m 432.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 30.100000000000023 m 560.5 30.100000000000023 l s BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 708.25 Td (Large Project Construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 690.25 Td (The changes in project profitability from revisions in estimates, both increases and decreases that individually had an impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 678.25 Td (of $1.0 million or more on gross profit were net decreases of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.21 678.25 Td ($4.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.10 678.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.54 678.25 Td ($7.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.43 678.25 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.81 678.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.79 678.25 Td ( and six months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 666.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.38 666.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.21 666.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 197.87 666.25 Td (. ) Tj ET Q q 0 0 0 rg BT 202.69 666.25 Td (The net changes for the three and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.95 666.25 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.78 666.25 Td ( were net decreases of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 654.25 Td ($1.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.89 654.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.33 654.25 Td ($2.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.22 654.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 232.88 654.25 Td (. ) Tj ET Q q 0 0 0 rg BT 237.33 654.25 Td (Amounts attributable to non-controlling interests were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.28 654.25 Td ($3.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.17 654.25 Td ( of the net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 642.25 Td (decreases for both the three and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.88 642.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.71 642.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 373.37 642.25 Td (, and were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.24 642.25 Td ($0.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.13 642.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.57 642.25 Td ($1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.46 642.25 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 630.25 Td (net decreases for the three and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.32 630.25 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.15 630.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 367.81 630.25 Td (. ) Tj ET Q q 0 0 0 rg BT 372.63 630.25 Td (The projects are summarized as follows:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 612.25 Td (Incr) Tj ET Q q 0 0 0 rg BT 81.15 612.25 Td (eases) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 573.75 232.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.50 573.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 573.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 573.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 573.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 573.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 573.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 573.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 573.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 573.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 573.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 573.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 547.75 232.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.50 547.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 547.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 547.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 547.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 547.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 547.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 547.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 547.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 547.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 547.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 547.75 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 601.75 m 295.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 295.5 601.75 m 303.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 295.5 586.75 m 303.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 601.75 m 359.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 586.75 m 359.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 601.75 m 363.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 586.75 m 363.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 601.75 m 371.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 586.75 m 371.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 601.75 m 427.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 586.75 m 427.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 601.75 m 431.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 586.75 m 431.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 601.75 m 439.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 586.75 m 439.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 601.75 m 495.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 586.75 m 495.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 601.75 m 499.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 586.75 m 499.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 601.75 m 507.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 586.75 m 507.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 601.75 m 563.5 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 586.75 m 563.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 573.75 m 295.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 295.5 573.75 m 303.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 573.75 m 359.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 586.75 m 363.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 573.75 m 363.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 586.75 m 371.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 573.75 m 371.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 586.75 m 427.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 573.75 m 427.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 573.75 m 431.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 573.75 m 439.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 586.75 m 495.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 573.75 m 495.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 573.75 m 499.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 573.75 m 507.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 573.75 m 563.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 573.75 m 359.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 573.75 m 427.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 573.75 m 495.5 573.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 573.75 m 563.5 573.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 591.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.45 591.43 Td (Thr) Tj ET Q q 0 0 0 rg BT 314.94 591.43 Td (ee Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.50 591.43 Td (Six Months Ended June 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 577.31 Td (\(dollars in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.00 577.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.00 577.48 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.00 577.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.00 577.48 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 564.32 Td (Number of projects with upward estimate changes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 564.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 564.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 564.32 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 564.32 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 551.32 Td (Range of increase in gross profit from each project, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.50 551.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.65 551.32 Td (2.9 - 6.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.50 551.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 551.32 Td (2.3 - 2.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.50 551.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 551.32 Td (1.2 - 6.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 551.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 551.32 Td (2.1 - 2.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 538.32 Td (Increase on project profitability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.50 538.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.15 538.32 Td (9.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.50 538.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 538.32 Td (4.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.50 538.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 538.32 Td (12.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 538.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 538.32 Td (7.3) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 517.25 Td (The increases during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.52 517.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.50 517.25 Td ( and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.44 517.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.27 517.25 Td ( were due to estimated recovery from back char) Tj ET Q q 0 0 0 rg BT 521.55 517.25 Td (ge claims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 505.25 Td (and higher productivity than originally anticipated as well as owner) Tj ET Q q 0 0 0 rg BT 333.00 505.25 Td (-directed scope changes during the six month period. ) Tj ET Q q 0 0 0 rg BT 546.93 505.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 493.25 Td (increases during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.47 493.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.46 493.25 Td ( and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.39 493.25 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.22 493.25 Td ( were due to owner) Tj ET Q q 0 0 0 rg BT 389.66 493.25 Td (-directed scope changes as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 481.25 Td (estimated cost recovery from claims during the six month period.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 463.25 Td (Decr) Tj ET Q q 0 0 0 rg BT 83.36 463.25 Td (eases) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 424.75 232.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.50 424.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 424.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 424.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 424.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 424.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 424.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 424.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 424.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 424.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 424.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 424.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 398.75 232.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.50 398.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 398.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 398.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.50 398.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.50 398.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 398.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 398.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 398.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 398.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 398.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 398.75 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 452.75 m 295.5 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 295.5 452.75 m 303.5 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 295.5 437.75 m 303.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 452.75 m 359.5 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 437.75 m 359.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 452.75 m 363.5 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 437.75 m 363.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 452.75 m 371.5 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 437.75 m 371.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 452.75 m 427.5 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 437.75 m 427.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 452.75 m 431.5 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 437.75 m 431.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 452.75 m 439.5 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 437.75 m 439.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 452.75 m 495.5 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 437.75 m 495.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 452.75 m 499.5 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 437.75 m 499.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 452.75 m 507.5 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 437.75 m 507.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 452.75 m 563.5 452.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 437.75 m 563.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 424.75 m 295.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 295.5 424.75 m 303.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 424.75 m 359.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 437.75 m 363.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 424.75 m 363.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 437.75 m 371.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363.5 424.75 m 371.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 437.75 m 427.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 424.75 m 427.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 424.75 m 431.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 424.75 m 439.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 437.75 m 495.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 424.75 m 495.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 424.75 m 499.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 424.75 m 507.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 437.75 m 563.5 437.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 424.75 m 563.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 424.75 m 359.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 424.75 m 427.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 424.75 m 495.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 424.75 m 563.5 424.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 442.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.45 442.43 Td (Thr) Tj ET Q q 0 0 0 rg BT 314.94 442.43 Td (ee Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.50 442.43 Td (Six Months Ended June 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 428.31 Td (\(dollars in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.00 428.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.00 428.48 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.00 428.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.00 428.48 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 415.32 Td (Number of projects with downward estimate changes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 415.32 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 415.32 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 415.32 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.65 415.32 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 402.32 Td (Range of reduction in gross profit from each project, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.50 402.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.65 402.32 Td (2.2 - 5.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.50 402.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 402.32 Td (1.2 - 2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.50 402.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 402.32 Td (3.4 - 6.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 402.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 402.32 Td (1.4 - 3.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 389.32 Td (Decreaseon project profitability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.50 389.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.15 389.32 Td (14.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.50 389.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 389.32 Td (5.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.50 389.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 389.32 Td (20.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 389.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 389.32 Td (9.8) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 368.25 Td (The decreasesduring the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.18 368.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.16 368.25 Td ( and six months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.10 368.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.93 368.25 Td ( and 2015 were due to additional design, weather and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 356.25 Td (owner) Tj ET Q q 0 0 0 rg BT 87.79 356.25 Td (-related costs and lower productivity than originally anticipated.) Tj ET Q endstream endobj 23 0 obj <>] /Rotate 0 /Contents 24 0 R>> endobj 24 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 177.05 759.60 Td (GRANITE CONSTRUCTION INCORPORA) Tj ET Q q 0 0 0 rg BT 410.18 759.60 Td (TED) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.25 745.20 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 97.71 745.20 Td (T) Tj ET Q q 0 0 0 rg BT 105.50 745.20 Td (O ) Tj ET Q q 0 0 0 rg BT 117.62 745.20 Td (THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 296.10 745.20 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 391.11 745.20 Td ( ST) Tj ET Q q 0 0 0 rg BT 407.90 745.20 Td (A) Tj ET Q q 0 0 0 rg BT 415.67 745.20 Td (TEMENTS - CONTINUED) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 276.65 730.80 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 33.60 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 33.60 Td (1) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 30.100000000000023 m 176.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 30.100000000000023 m 304.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 30.100000000000023 m 432.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 30.100000000000023 m 560.5 30.100000000000023 l s BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 708.25 Td (4. ) Tj ET Q q 0 0 0 rg BT 63.00 708.25 Td (Marketable Securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 690.25 Td (All marketable securities were classified as held-to-maturity as of the dates presented and the carryingamounts of held-to-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 678.25 Td (maturity securities were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 643.75 250.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 643.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 643.75 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 643.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 643.75 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 643.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 643.75 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 617.75 250.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 617.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 617.75 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 617.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 617.75 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 617.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 617.75 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 591.75 250.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 591.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 591.75 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 591.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 591.75 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 591.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 591.75 79.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 667.75 m 313.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 643.75 m 313.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 667.75 m 317.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 643.75 m 317.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 667.75 m 396.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 643.75 m 396.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 667.75 m 400.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 643.75 m 400.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 667.75 m 479.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 643.75 m 479.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 667.75 m 483.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 643.75 m 483.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 667.75 m 562.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 643.75 m 562.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 643.75 m 479.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 643.75 m 562.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 617.75 m 313.5 617.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 617.75 m 317.5 617.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 617.75 m 396.5 617.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 617.75 m 400.5 617.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 617.75 m 479.5 617.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 617.75 m 483.5 617.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 617.75 m 562.5 617.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 591.75 m 313.5 591.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 578.75 m 313.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 591.75 m 317.5 591.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 578.75 m 317.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 591.75 m 396.5 591.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 578.75 m 396.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 591.75 m 400.5 591.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 578.75 m 400.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 591.75 m 479.5 591.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 578.75 m 479.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 591.75 m 483.5 591.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 578.75 m 483.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 591.75 m 562.5 591.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 578.75 m 562.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 566.75 m 313.5 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 564.75 m 313.5 564.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 566.75 m 317.5 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 564.75 m 317.5 564.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 566.75 m 396.5 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 564.75 m 396.5 564.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 566.75 m 400.5 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 564.75 m 400.5 564.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 566.75 m 479.5 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 564.75 m 479.5 564.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 566.75 m 483.5 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 564.75 m 483.5 564.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 578.75 m 562.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 566.75 m 562.5 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 564.75 m 562.5 564.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 648.46 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.70 658.43 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.50 648.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.40 658.43 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.50 648.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.70 658.43 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.50 648.43 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 634.32 Td (U.S. Government and agency obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.00 634.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.15 634.32 Td (20,010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 634.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 634.32 Td (15,051) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.00 634.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 634.32 Td (7,573) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 621.32 Td (Commercial paper) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.15 621.32 Td (14,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 621.32 Td (9,992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 621.32 Td (9,987) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 608.32 Td (Total short-term marketable securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.15 608.32 Td (34,959) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 608.32 Td (25,043) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 608.32 Td (17,560) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 595.32 Td (U.S. Government and agency obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.15 595.32 Td (42,653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 595.32 Td (80,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 595.32 Td (70,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 582.32 Td (Total long-term marketable securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.15 582.32 Td (42,653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 582.32 Td (80,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 582.32 Td (70,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 569.32 Td (Total marketable securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.00 569.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.15 569.32 Td (77,612) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 569.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 569.32 Td (105,695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.00 569.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 569.32 Td (88,068) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 548.25 Td (Scheduled maturities of held-to-maturity investments were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 513.75 420.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 513.75 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 487.75 420.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 487.75 79.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 537.75 m 483.5 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 513.75 m 483.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 537.75 m 562.5 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 513.75 m 562.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 487.75 m 483.5 487.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 475.75 m 483.5 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 473.75 m 483.5 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 487.75 m 562.5 487.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 475.75 m 562.5 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 473.75 m 562.5 473.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 518.46 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.70 528.43 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.50 518.43 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 504.32 Td (Due within one year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.00 504.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 504.32 Td (34,959) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 491.32 Td (Due in one tofive years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 491.32 Td (42,653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 478.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.00 478.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 478.32 Td (77,612) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 451.25 Td (5. ) Tj ET Q q 0 0 0 rg BT 63.00 451.25 Td (Fair) Tj ET Q q 0 0 0 rg BT 81.14 451.25 Td ( ) Tj ET Q q 0 0 0 rg BT 83.46 451.25 Td (V) Tj ET Q q 0 0 0 rg BT 89.77 451.25 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 142.63 451.25 Td (ement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 433.25 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 433.25 Td (e measure our cash equivalents and interest rate and commodity swap derivative contracts at fair value in the condensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 421.25 Td (consolidated balance sheets on a recurring basis. ) Tj ET Q q 0 0 0 rg BT 259.42 421.25 Td (The carrying values of receivables, other current assets, and accrued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 409.25 Td (expenses and other current liabilities approximate their fair values due to the short-term nature of these instruments. During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 397.25 Td (the three and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.64 397.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.47 397.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.90 397.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.90 397.25 Td (, we did not record any fair value adjustments related to nonfinancial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 385.25 Td (assets and liabilities measured at fair value on a nonrecurring basis.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 367.25 Td (Cash and Cash Equivalents ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 349.25 Td (The following tables summarize our cash equivalents by significant investment categories \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 309.75 203.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 309.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 309.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 309.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 309.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 309.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 309.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 309.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 309.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 283.75 203.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 283.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 283.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 283.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 283.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 283.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 283.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 283.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 283.75 70.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 338.75 m 266.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 338.75 m 270.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 338.75 m 340.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 322.75 m 340.5 322.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 338.75 m 344.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 322.75 m 344.5 322.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 338.75 m 414.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 322.75 m 414.5 322.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 338.75 m 418.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 322.75 m 418.5 322.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 338.75 m 488.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 322.75 m 488.5 322.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 338.75 m 492.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 322.75 m 492.5 322.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 338.75 m 562.5 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 322.75 m 562.5 322.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 309.75 m 266.5 309.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 309.75 m 270.5 309.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 309.75 m 340.5 309.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 309.75 m 344.5 309.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 309.75 m 414.5 309.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 309.75 m 418.5 309.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 309.75 m 488.5 309.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 309.75 m 492.5 309.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 309.75 m 562.5 309.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 270.75 m 340.5 270.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 270.75 m 414.5 270.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 270.75 m 488.5 270.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 270.75 m 562.5 270.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 270.75 m 266.5 270.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 258.75 m 266.5 258.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 256.75 m 266.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 270.75 m 270.5 270.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 258.75 m 270.5 258.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 256.75 m 270.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 270.75 m 340.5 270.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 258.75 m 340.5 258.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 256.75 m 340.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 270.75 m 344.5 270.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 258.75 m 344.5 258.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 256.75 m 344.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 270.75 m 414.5 270.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 258.75 m 414.5 258.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 256.75 m 414.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 270.75 m 418.5 270.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 258.75 m 418.5 258.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 256.75 m 418.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 270.75 m 488.5 270.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 258.75 m 488.5 258.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 256.75 m 488.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 270.75 m 492.5 270.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 258.75 m 492.5 258.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 256.75 m 492.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 270.75 m 562.5 270.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 258.75 m 562.5 258.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 256.75 m 562.5 256.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.05 327.43 Td (Fair Value Measurement at Reporting Date Using) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 313.48 Td (June 30, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.55 313.48 Td (Level 1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.55 313.48 Td (Level 2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.55 313.48 Td (Level 3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.05 313.48 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 300.48 Td (Cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.00 300.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 300.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 300.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 300.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 287.32 Td (Money market funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 287.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.15 287.32 Td (30,082) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.00 287.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 287.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 287.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 287.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 287.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 287.32 Td (30,082) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 274.32 Td (Commercial paper) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.15 274.32 Td (4,994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 274.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 274.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 274.32 Td (4,994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 261.32 Td (Total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 261.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.15 261.32 Td (35,076) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.00 261.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 261.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 261.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 261.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 261.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 261.32 Td (35,076) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 221.75 203.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 221.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 221.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 221.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 221.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 221.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 221.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 221.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 221.75 70.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 247.75 m 266.5 247.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 234.75 m 266.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 247.75 m 270.5 247.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 234.75 m 270.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 247.75 m 340.5 247.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 234.75 m 340.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 247.75 m 344.5 247.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 234.75 m 344.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 247.75 m 414.5 247.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 234.75 m 414.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 247.75 m 418.5 247.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 234.75 m 418.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 247.75 m 488.5 247.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 234.75 m 488.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 247.75 m 492.5 247.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 234.75 m 492.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 247.75 m 562.5 247.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 234.75 m 562.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 208.75 m 340.5 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 208.75 m 414.5 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 208.75 m 488.5 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 208.75 m 266.5 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 196.75 m 266.5 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 194.75 m 266.5 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 208.75 m 270.5 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 196.75 m 270.5 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 194.75 m 270.5 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 208.75 m 340.5 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 196.75 m 340.5 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 194.75 m 340.5 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 208.75 m 344.5 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 196.75 m 344.5 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 194.75 m 344.5 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 208.75 m 414.5 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 196.75 m 414.5 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 194.75 m 414.5 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 208.75 m 418.5 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 196.75 m 418.5 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 194.75 m 418.5 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 208.75 m 488.5 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 196.75 m 488.5 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 194.75 m 488.5 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 208.75 m 492.5 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 196.75 m 492.5 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 194.75 m 492.5 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 208.75 m 562.5 208.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 196.75 m 562.5 196.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 194.75 m 562.5 194.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 238.48 Td (December 31, 2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 225.48 Td (Cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.00 225.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 225.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 225.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 225.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 212.32 Td (Money market funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 212.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.15 212.32 Td (62,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.00 212.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 212.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 212.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 212.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 212.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 212.32 Td (62,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 199.32 Td (Total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 199.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.15 199.32 Td (62,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.00 199.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 199.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 199.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 199.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 199.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 199.32 Td (62,024) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 159.75 203.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 159.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.50 159.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 159.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 159.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 159.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 159.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 159.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 159.75 70.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 185.75 m 266.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 172.75 m 266.5 172.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 185.75 m 270.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 172.75 m 270.5 172.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 185.75 m 340.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 172.75 m 340.5 172.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 185.75 m 344.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 172.75 m 344.5 172.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 185.75 m 414.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 172.75 m 414.5 172.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 185.75 m 418.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 172.75 m 418.5 172.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 185.75 m 488.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 172.75 m 488.5 172.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 185.75 m 492.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 172.75 m 492.5 172.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 185.75 m 562.5 185.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 172.75 m 562.5 172.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 146.75 m 266.5 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 146.75 m 270.5 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 146.75 m 340.5 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 146.75 m 344.5 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 146.75 m 414.5 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 146.75 m 418.5 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 146.75 m 488.5 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 146.75 m 492.5 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 146.75 m 562.5 146.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 134.75 m 266.5 134.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 132.75 m 266.5 132.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 134.75 m 270.5 134.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 132.75 m 270.5 132.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 134.75 m 340.5 134.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270.5 132.75 m 340.5 132.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 134.75 m 344.5 134.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 132.75 m 344.5 132.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 134.75 m 414.5 134.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 132.75 m 414.5 132.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 134.75 m 418.5 134.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 132.75 m 418.5 132.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 134.75 m 488.5 134.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 132.75 m 488.5 132.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 134.75 m 492.5 134.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 132.75 m 492.5 132.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 134.75 m 562.5 134.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 132.75 m 562.5 132.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 176.48 Td (June 30, 2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 163.48 Td (Cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.51 163.48 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.00 163.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.00 163.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 163.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 163.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 150.32 Td (Money market funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 150.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.15 150.32 Td (23,975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.00 150.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 150.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 150.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 150.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 150.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 150.32 Td (23,975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 137.32 Td (Total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.00 137.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.15 137.32 Td (23,975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.00 137.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.65 137.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 137.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 137.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 137.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 137.32 Td (23,975) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 117.45 Td ( ) Tj ET Q endstream endobj 25 0 obj <>] /Rotate 0 /Contents 26 0 R>> endobj 26 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 177.05 759.60 Td (GRANITE CONSTRUCTION INCORPORA) Tj ET Q q 0 0 0 rg BT 410.18 759.60 Td (TED) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.25 745.20 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 97.71 745.20 Td (T) Tj ET Q q 0 0 0 rg BT 105.50 745.20 Td (O ) Tj ET Q q 0 0 0 rg BT 117.62 745.20 Td (THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 296.10 745.20 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 391.11 745.20 Td ( ST) Tj ET Q q 0 0 0 rg BT 407.90 745.20 Td (A) Tj ET Q q 0 0 0 rg BT 415.67 745.20 Td (TEMENTS - CONTINUED) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 276.65 730.80 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (12) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 708.10 Td (A) Tj ET Q q 0 0 0 rg BT 69.67 708.10 Td (reconciliation of cash equivalents to consolidated cash and cash equivalents is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 673.60 250.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 673.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 673.60 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 673.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 673.60 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 673.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 673.60 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 647.60 250.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 647.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 647.60 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 647.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 647.60 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 647.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 647.60 79.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 697.6 m 313.5 697.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 673.6 m 313.5 673.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 697.6 m 317.5 697.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 673.6 m 317.5 673.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 697.6 m 396.5 697.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 673.6 m 396.5 673.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 697.6 m 400.5 697.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 673.6 m 400.5 673.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 697.6 m 479.5 697.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 673.6 m 479.5 673.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 697.6 m 483.5 697.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 673.6 m 483.5 673.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 697.6 m 562.5 697.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 673.6 m 562.5 673.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 673.6 m 479.5 673.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 673.6 m 562.5 673.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 647.6 m 313.5 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 647.6 m 317.5 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 647.6 m 396.5 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 647.6 m 400.5 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 647.6 m 479.5 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 647.6 m 483.5 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 647.6 m 562.5 647.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 635.6 m 313.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 633.6 m 313.5 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 635.6 m 317.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 633.6 m 317.5 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 635.6 m 396.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 633.6 m 396.5 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 635.6 m 400.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 633.6 m 400.5 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 635.6 m 479.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 633.6 m 479.5 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 635.6 m 483.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 633.6 m 483.5 633.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 635.6 m 562.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 633.6 m 562.5 633.6 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 678.31 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.70 688.28 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.50 678.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.40 688.28 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.50 678.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.00 678.28 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.70 688.28 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.50 678.28 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 664.17 Td (Cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.00 664.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.15 664.17 Td (35,076) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 664.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 664.17 Td (62,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.00 664.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.00 664.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 664.17 Td (23,975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 651.17 Td (Cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.00 651.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.15 651.17 Td (126,142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 651.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 651.17 Td (190,812) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.00 651.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 651.17 Td (164,172) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 638.17 Td (Total cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.00 638.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.15 638.17 Td (161,218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 638.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 638.17 Td (252,836) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.00 638.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.00 638.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 638.17 Td (188,147) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 617.10 Td (Derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 599.10 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 599.10 Td (e recognize derivative instruments as either assets or liabilities in the condensed consolidated balance sheets at fair value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 587.10 Td (using Level 2 inputs. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 569.10 Td (Inter) Tj ET Q q 0 0 0 rg BT 82.07 569.10 Td (est Rate Swaps) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 551.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.44 551.10 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.27 551.10 Td (, the fair value of the cash flow hedge that we entered into in January 2016 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.61 551.10 Td ($2.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.50 551.10 Td ( and was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 539.10 Td (included in accrued expenses and other current liabilities on the condensed consolidated balance sheets. During the three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 527.10 Td (and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.43 527.10 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.26 527.10 Td (, the losses, net of taxes, on the ef) Tj ET Q q 0 0 0 rg BT 342.77 527.10 Td (fective portion were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.79 527.10 Td ($0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.68 527.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.12 527.10 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.01 527.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 515.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 110.66 515.10 Td (, and were reported as a component of accumulated other comprehensive loss. During the three and six months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 503.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.38 503.10 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.21 503.10 Td ( there was no inef) Tj ET Q q 0 0 0 rg BT 216.11 503.10 Td (fective portion and the interest expense reclassified from accumulated other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 491.10 Td (comprehensive income was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.02 491.10 Td ($0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.91 491.10 Td ( for both periods. ) Tj ET Q q 0 0 0 rg BT 296.11 491.10 Td (W) Tj ET Q q 0 0 0 rg BT 304.74 491.10 Td (e estimate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.50 491.10 Td ($0.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.39 491.10 Td ( to be reclassified from accumulated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 479.10 Td (other comprehensive income into pre-tax earnings within the next twelve months.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 462.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.44 462.10 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.27 462.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.27 462.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.86 462.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.30 462.10 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.13 462.10 Td (, the fair value of the interest rate swap that we entered into in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 450.10 Td (March 2014 was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.15 450.10 Td ($1.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.04 450.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.04 450.10 Td ($0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.93 450.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.37 450.10 Td ($0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.26 450.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 355.92 450.10 Td (, and was included in other current assets on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 438.10 Td (condensed consolidated balance sheets. During the three and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.19 438.10 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.86 438.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.69 438.10 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.52 438.10 Td (, we recorded net gains of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.31 438.10 Td ($0.3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 426.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.89 426.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.33 426.10 Td ($1.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.22 426.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 212.88 426.10 Td (, and during the three and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.07 426.10 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.90 426.10 Td ( we recorded a net loss of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 414.10 Td (less than $0.1 million and a net gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.75 414.10 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.64 414.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 322.30 414.10 Td (, and these amounts were included in other income, net on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 402.10 Td (our condensed consolidated statements of operations.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 384.10 Td (Other Derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 366.10 Td (Our diesel and natural gas commodity swaps were settled in October 2015. ) Tj ET Q q 0 0 0 rg BT 364.87 366.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.31 366.10 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.14 366.10 Td (, the fair value of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 354.10 Td (swaps was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.00 354.10 Td ($1.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.89 354.10 Td ( and was included in accrued expenses and other current liabilities on the condensed consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 342.10 Td (balance sheets. During the three and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.94 342.10 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.77 342.10 Td (, the amounts included in other \(income\) expense, net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 330.10 Td (in our condensed consolidated statements of operations were immaterial.) Tj ET Q endstream endobj 27 0 obj <>] /Rotate 0 /Contents 28 0 R>> endobj 28 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 177.05 759.60 Td (GRANITE CONSTRUCTION INCORPORA) Tj ET Q q 0 0 0 rg BT 410.18 759.60 Td (TED) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.25 745.20 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 97.71 745.20 Td (T) Tj ET Q q 0 0 0 rg BT 105.50 745.20 Td (O ) Tj ET Q q 0 0 0 rg BT 117.62 745.20 Td (THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 296.10 745.20 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 391.11 745.20 Td ( ST) Tj ET Q q 0 0 0 rg BT 407.90 745.20 Td (A) Tj ET Q q 0 0 0 rg BT 415.67 745.20 Td (TEMENTS - CONTINUED) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 276.65 730.80 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (13) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 708.25 Td (Other ) Tj ET Q q 0 0 0 rg BT 89.02 708.25 Td (Assets and Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 690.25 Td (The carrying values and estimated fair values of our financial instruments that are not required to be recorded at fair value in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 678.25 Td (the condensed consolidated balance sheets are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 629.75 113.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 176.50 629.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 180.50 629.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.50 629.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 235.50 629.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 629.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 629.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 629.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.50 629.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 629.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 629.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.50 629.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 629.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 629.75 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 629.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 592.75 223.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 592.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 592.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 592.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.50 592.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 592.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 592.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.50 592.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 592.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 592.75 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 592.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 566.75 113.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 176.50 566.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 180.50 566.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.50 566.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 235.50 566.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 566.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 566.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 566.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.50 566.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 566.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 566.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.50 566.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 566.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 566.75 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.50 566.75 51.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 667.75 m 176.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 667.75 m 180.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180.5 667.75 m 231.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 667.75 m 235.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 654.75 m 235.5 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 235.5 667.75 m 286.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 235.5 654.75 m 286.5 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 667.75 m 290.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 654.75 m 290.5 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 667.75 m 341.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 654.75 m 341.5 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341.5 667.75 m 345.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341.5 654.75 m 345.5 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.5 667.75 m 396.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.5 654.75 m 396.5 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 667.75 m 400.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 654.75 m 400.5 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 667.75 m 451.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 654.75 m 451.5 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 667.75 m 455.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 654.75 m 455.5 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 667.75 m 506.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 654.75 m 506.5 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 667.75 m 511.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 654.75 m 511.5 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 667.75 m 562.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 654.75 m 562.5 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 629.75 m 176.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 629.75 m 180.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180.5 629.75 m 231.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231.5 629.75 m 235.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 235.5 629.75 m 286.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 629.75 m 290.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 629.75 m 341.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341.5 629.75 m 345.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345.5 629.75 m 396.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 629.75 m 400.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 629.75 m 451.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451.5 629.75 m 455.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 629.75 m 506.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 629.75 m 511.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 629.75 m 562.5 629.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.95 658.48 Td (June 30, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.65 658.48 Td (December 31, 2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.45 658.48 Td (June 30, 2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 634.46 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.20 644.43 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 634.43 Td (Hierarchy) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.75 644.43 Td (Carrying) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.45 634.43 Td (Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 293.20 634.43 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.75 644.43 Td (Carrying) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.45 634.43 Td (Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.20 634.43 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.75 644.43 Td (Carrying) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.45 634.43 Td (Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.20 634.43 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 620.48 Td (Assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.00 620.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.00 620.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.00 620.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 620.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 607.32 Td (Held-to-maturity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 597.32 Td (marketable securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.35 597.42 Td (Level 1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.00 597.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.15 597.42 Td (77,612) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 597.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 597.42 Td (77,678) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.00 597.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.10 597.42 Td (105,695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 597.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.10 597.42 Td (105,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 597.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 597.42 Td (88,068) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.00 597.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 597.42 Td (88,075) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 583.48 Td (Liabilities \(including current maturities\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 570.32 Td (2019 Notes) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 117.83 574.85 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.35 570.32 Td (Level 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.00 570.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.10 570.32 Td (160,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 570.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.10 570.32 Td (167,210) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.00 570.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.10 570.32 Td (160,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.00 570.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.10 570.32 Td (165,731) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 570.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.10 570.32 Td (200,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.00 570.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.10 570.32 Td (212,648) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 557.32 Td (Credit ) Tj ET Q q 0 0 0 rg BT 98.94 557.32 Td (Agreement loan) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 163.08 561.85 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.35 557.32 Td (Level 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.15 557.32 Td (97,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 557.32 Td (97,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.10 557.32 Td (100,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 557.32 Td (99,375) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 557.32 Td (70,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 557.32 Td (69,387) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 63.00 541.53 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.92 537.45 Td (The fair values of the 2019 Notes and Credit ) Tj ET Q q 0 0 0 rg BT 228.13 537.45 Td (Agreement \(defined in Note 10\) loan are based on borrowing rates available to us for long-) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.00 526.65 Td (term debt with similar terms, average maturities, and credit risk. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 508.65 Td (6. ) Tj ET Q q 0 0 0 rg BT 63.00 508.65 Td (Receivables, net) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 474.15 248.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 474.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.50 474.15 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 474.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 474.15 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 474.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 474.15 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 448.15 248.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 448.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.50 448.15 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 448.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 448.15 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 448.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 448.15 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 422.15 248.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 422.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.50 422.15 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 422.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 422.15 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 422.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 422.15 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 396.15 248.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 396.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.50 396.15 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 396.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 396.15 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 396.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 396.15 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 370.15 248.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 370.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.50 370.15 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 370.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 370.15 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 370.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 370.15 79.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 498.15 m 311.5 498.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 474.15 m 311.5 474.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 498.15 m 315.5 498.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 474.15 m 315.5 474.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 498.15 m 395.5 498.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 474.15 m 395.5 474.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 498.15 m 399.5 498.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 474.15 m 399.5 474.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 498.15 m 479.5 498.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 474.15 m 479.5 474.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 498.15 m 483.5 498.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 474.15 m 483.5 474.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 498.15 m 562.5 498.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 474.15 m 562.5 474.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 435.15 m 311.5 435.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 435.15 m 315.5 435.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 435.15 m 395.5 435.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 435.15 m 399.5 435.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 435.15 m 479.5 435.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 435.15 m 483.5 435.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 435.15 m 562.5 435.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 435.15 m 479.5 435.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 435.15 m 562.5 435.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 396.15 m 311.5 396.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 396.15 m 315.5 396.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 396.15 m 395.5 396.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 396.15 m 399.5 396.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 396.15 m 479.5 396.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 396.15 m 483.5 396.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 396.15 m 562.5 396.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 396.15 m 479.5 396.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 396.15 m 562.5 396.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 370.15 m 479.5 370.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 370.15 m 562.5 370.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 370.15 m 311.5 370.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 358.15 m 311.5 358.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 356.15 m 311.5 356.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 370.15 m 315.5 370.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 358.15 m 315.5 358.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 356.15 m 315.5 356.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 370.15 m 395.5 370.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 358.15 m 395.5 358.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 356.15 m 395.5 356.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 370.15 m 399.5 370.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 358.15 m 399.5 358.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395.5 356.15 m 399.5 356.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 370.15 m 479.5 370.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 358.15 m 479.5 358.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 356.15 m 479.5 356.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 370.15 m 483.5 370.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 358.15 m 483.5 358.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 356.15 m 483.5 356.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 370.15 m 562.5 370.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 358.15 m 562.5 358.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 356.15 m 562.5 356.15 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 478.86 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.20 488.83 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.00 478.83 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.90 488.83 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.00 478.83 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.70 488.83 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.50 478.83 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 464.72 Td (Construction contracts:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.00 464.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 464.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.00 464.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 451.72 Td (Completed and in progress) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.00 451.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 451.72 Td (266,685) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 451.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 451.72 Td (206,756) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.00 451.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 451.72 Td (229,861) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 438.72 Td (Retentions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 438.72 Td (95,415) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 438.72 Td (91,670) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 438.72 Td (77,955) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 425.72 Td (Total construction contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 425.72 Td (362,100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 425.72 Td (298,426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 425.72 Td (307,816) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 412.72 Td (Construction Material sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 412.72 Td (54,277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 412.72 Td (28,727) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 412.72 Td (49,064) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 399.72 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 399.72 Td (15,227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 399.72 Td (14,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 399.72 Td (5,820) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 386.72 Td (Total gross receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 386.72 Td (431,604) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 386.72 Td (341,186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 386.72 Td (362,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 373.72 Td (Less: allowance for doubtful accounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.65 373.72 Td (477) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.65 373.72 Td (364) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 373.72 Td (364) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 360.72 Td (Total net receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.00 360.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.15 360.72 Td (431,127) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 360.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 360.72 Td (340,822) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.00 360.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 360.72 Td (362,336) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 339.65 Td (Receivables include amounts billed and billable to clients for services provided as of the end of the applicable period and, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 327.65 Td (except for escrow receivables, do not bear interest. Included in Other receivables at) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.68 327.65 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.51 327.65 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.51 327.65 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.10 327.65 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 315.65 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.83 315.65 Td (were items such as estimated recovery from back char) Tj ET Q q 0 0 0 rg BT 337.72 315.65 Td (ge claims, notes receivable, fuel tax refunds, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 303.65 Td (receivables from vendors and income tax refunds. ) Tj ET Q q 0 0 0 rg BT 264.60 303.65 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.04 303.65 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.87 303.65 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.31 303.65 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.89 303.65 Td (, the estimated recovery from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 291.65 Td (back char) Tj ET Q q 0 0 0 rg BT 101.40 291.65 Td (ge claims included in Other receivables was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.95 291.65 Td ($10.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.84 291.65 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.84 291.65 Td ($6.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.73 291.65 Td (, and there were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.08 291.65 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.08 291.65 Td ( receivables related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 279.65 Td (back char) Tj ET Q q 0 0 0 rg BT 101.40 279.65 Td (ges as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.89 279.65 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.72 279.65 Td (. No such receivables individually exceeded 10% of total net receivables at any of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 267.65 Td (dates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 249.65 Td (T) Tj ET Q q 0 0 0 rg BT 68.41 249.65 Td (o the extent costs are not contractually billable or have not been earned, such as claim recovery estimates, the associated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 237.65 Td (revenue is included in costs and estimated earnings in excess of billings or billings ) Tj ET Q BT /F5 9.00 Tf ET q 0 0 0 rg BT 395.71 237.65 Td (i) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.71 237.65 Td (n excess of costs and estimated earnings, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 225.65 Td (respectively) Tj ET Q q 0 0 0 rg BT 110.66 225.65 Td (, on the condensed consolidated balance sheets. ) Tj ET Q q 0 0 0 rg BT 302.55 225.65 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.99 225.65 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.82 225.65 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.82 225.65 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.40 225.65 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.84 225.65 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.67 225.65 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 213.65 Td (aggregate claim recovery estimates, included in these balances, were approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.63 213.65 Td ($8.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.52 213.65 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.52 213.65 Td ($8.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.42 213.65 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.85 213.65 Td ($7.9 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 201.65 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.89 201.65 Td (, respectively) Tj ET Q q 0 0 0 rg BT 144.55 201.65 Td (. Ultimate settlement with the customer is dependent on the claims resolution process and could extend ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 189.65 Td (beyond one year or the project operating cycle. ) Tj ET Q endstream endobj 29 0 obj <>] /Rotate 0 /Contents 30 0 R>> endobj 30 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 177.05 759.60 Td (GRANITE CONSTRUCTION INCORPORA) Tj ET Q q 0 0 0 rg BT 410.18 759.60 Td (TED) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.25 745.20 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 97.71 745.20 Td (T) Tj ET Q q 0 0 0 rg BT 105.50 745.20 Td (O ) Tj ET Q q 0 0 0 rg BT 117.62 745.20 Td (THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 296.10 745.20 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 391.11 745.20 Td ( ST) Tj ET Q q 0 0 0 rg BT 407.90 745.20 Td (A) Tj ET Q q 0 0 0 rg BT 415.67 745.20 Td (TEMENTS - CONTINUED) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 276.65 730.80 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (14) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 708.10 Td (Certain construction contracts include retainage provisions and the associated retention receivables are considered financing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 696.10 Td (receivables. ) Tj ET Q q 0 0 0 rg BT 112.79 696.10 Td (The balances billed but not paid by customers pursuant to these provisions generally become due upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 684.10 Td (completion and acceptance of the project work or products by the owners. No retention receivable individually exceeded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 672.10 Td (10% of total net receivables at any of the presented dates. ) Tj ET Q q 0 0 0 rg BT 295.13 672.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.58 672.10 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.41 672.10 Td (, the majority of the retentions receivable are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 660.10 Td (expected to be collected within one year) Tj ET Q q 0 0 0 rg BT 223.49 660.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 642.10 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 642.10 Td (e segregate our retention receivables into two categories: escrow and non-escrow) Tj ET Q q 0 0 0 rg BT 395.30 642.10 Td (. ) Tj ET Q q 0 0 0 rg BT 400.12 642.10 Td (The balances in each category were as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 630.10 Td (follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 595.60 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 595.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 595.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 595.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 595.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 595.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 595.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 569.60 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 569.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 569.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 569.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 569.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 569.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 569.60 80.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 619.6 m 310.5 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 595.6 m 310.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 619.6 m 314.5 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 595.6 m 314.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 619.6 m 394.5 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 595.6 m 394.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 619.6 m 398.5 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 595.6 m 398.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 619.6 m 478.5 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 595.6 m 478.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 619.6 m 482.5 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 595.6 m 482.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 619.6 m 562.5 619.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 595.6 m 562.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 595.6 m 394.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 595.6 m 478.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 595.6 m 562.5 595.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 569.6 m 310.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 569.6 m 314.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 569.6 m 394.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 569.6 m 398.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 569.6 m 478.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 569.6 m 482.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 569.6 m 562.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 557.6 m 310.5 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 555.6 m 310.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 557.6 m 314.5 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 555.6 m 314.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 557.6 m 394.5 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 555.6 m 394.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 557.6 m 398.5 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 555.6 m 398.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 569.6 m 478.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 557.6 m 478.5 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 555.6 m 478.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 557.6 m 482.5 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 555.6 m 482.5 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 569.6 m 562.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 557.6 m 562.5 557.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 555.6 m 562.5 555.6 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 600.31 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.20 610.28 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.00 600.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.90 610.28 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.00 600.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.20 610.28 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.00 600.28 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 586.17 Td (Escrow) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 586.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 586.17 Td (19,804) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 586.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 586.17 Td (21,958) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 586.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 586.17 Td (22,381) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 573.17 Td (Non-escrow) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 573.17 Td (75,611) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 573.17 Td (69,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 573.17 Td (55,574) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 560.17 Td (Total retention receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 560.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 560.17 Td (95,415) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 560.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 560.17 Td (91,670) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 560.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 560.17 Td (77,955) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 539.10 Td (The escrow receivables include amounts due to Granite that have been deposited into an escrow account and bear interest. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 527.10 Td (T) Tj ET Q q 0 0 0 rg BT 68.41 527.10 Td (ypically) Tj ET Q q 0 0 0 rg BT 99.97 527.10 Td (, escrow retention receivables are held until work on a project is complete and has been accepted by the owner who ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 515.10 Td (then releases those funds, along with accrued interest, to us. ) Tj ET Q q 0 0 0 rg BT 304.69 515.10 Td (There is minimal risk of not collecting on these amounts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 497.10 Td (As of all periods presented, there were no significant collectability issues related to non-escrow retention receivables.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.10 Td (7. ) Tj ET Q q 0 0 0 rg BT 63.00 479.10 Td (Construction Joint ) Tj ET Q q 0 0 0 rg BT 145.60 479.10 Td (V) Tj ET Q q 0 0 0 rg BT 151.91 479.10 Td (entur) Tj ET Q q 0 0 0 rg BT 175.06 479.10 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 461.10 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 461.10 Td (e participate in various construction joint ventures, partnerships and a limited liability company of which we are a limited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 449.10 Td (member \(joint ventures\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 431.10 Td (Due to the joint and several nature of the performance obligations under the related owner contracts, if any of the members ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 419.10 Td (fail to perform, we and the other members would be responsible for performance of the outstanding work. Generally) Tj ET Q q 0 0 0 rg BT 528.03 419.10 Td (, each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 407.10 Td (construction joint venture is formed to complete a specific contract and is jointly controlled by the venture members. ) Tj ET Q q 0 0 0 rg BT 532.40 407.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 395.10 Td (associated agreements typically provide that our interests in any profits and assets, and our respective share in any losses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 383.10 Td (and liabilities resulting from the performance of the contracts, are limited to our stated percentage interest in the venture. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 371.10 Td (Under our contractual arrangements, we provide capital to these joint ventures in return for an ownership interest. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 359.10 Td (addition, members dedicate resources to the ventures necessary to complete the contracts andare reimbursed for their cost. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 347.10 Td (The operational risks of each construction joint venture are passed along to the joint venture members. ) Tj ET Q q 0 0 0 rg BT 474.82 347.10 Td (As we absorb our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 335.10 Td (share of these risks, our investment in each venture is exposed to potential gains and losses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 317.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.50 317.10 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.33 317.10 Td (, there was approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.13 317.10 Td ($5.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.24 317.10 Td ( of constructionrevenue to be recognized onunconsolidated and line ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 305.10 Td (item construction joint venture contracts of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.89 305.10 Td ($1.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.00 305.10 Td ( represented our share and the remaining) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.21 305.10 Td ($3.5 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.33 305.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 293.10 Td (represented the other members) Tj ET Q q 0 0 0 rg BT 188.59 293.10 Td ( share. ) Tj ET Q q 0 0 0 rg BT 217.01 293.10 Td (W) Tj ET Q q 0 0 0 rg BT 225.65 293.10 Td (e are not able to estimate amounts that may be required beyond the remaining cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 281.10 Td (of the work to be performed. ) Tj ET Q q 0 0 0 rg BT 180.28 281.10 Td (These costs could be of) Tj ET Q q 0 0 0 rg BT 273.96 281.10 Td (fset by billings to the customer or by proceeds from other members ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 269.10 Td (and/or other guarantors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 251.10 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 251.10 Td (e have determined that certain of these joint ventures are consolidated because they are variable interest entities \(VIEs\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 239.10 Td (and we are the primary beneficiary) Tj ET Q q 0 0 0 rg BT 202.00 239.10 Td (. ) Tj ET Q q 0 0 0 rg BT 206.82 239.10 Td (W) Tj ET Q q 0 0 0 rg BT 215.46 239.10 Td (e continually evaluate whether there are changes in the status of the ) Tj ET Q q 0 0 0 rg BT 487.94 239.10 Td (VIEs or changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 227.10 Td (to the primary beneficiary designation of the ) Tj ET Q q 0 0 0 rg BT 243.59 227.10 Td (VIE. Based on our assessments during the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.49 227.10 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.32 227.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 215.10 Td (we determined no change was required for existing construction joint ventures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 197.10 Td (The volume and stage of completion of contracts from our consolidated and unconsolidated construction joint ventures may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 185.10 Td (cause fluctuations in cash and cash equivalents and, for consolidated construction joint ventures, billings in excess of costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 173.10 Td (and estimated earnings and costs in excess of billings and estimated earnings between periods.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 155.10 Td (The assets and liabilities of each consolidated and unconsolidated construction joint venture relate solely to that joint ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 143.10 Td (venture. ) Tj ET Q q 0 0 0 rg BT 97.80 143.10 Td (The decision to distribute joint venture assets must generally be made jointly by a majority of the members and, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 131.10 Td (accordingly) Tj ET Q q 0 0 0 rg BT 109.55 131.10 Td (, these assets, including those associated with customer af) Tj ET Q q 0 0 0 rg BT 340.43 131.10 Td (firmative claims and back char) Tj ET Q q 0 0 0 rg BT 463.52 131.10 Td (ge claims, are generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 119.10 Td (not available for the working capital needs of Granite until distributed.) Tj ET Q endstream endobj 31 0 obj <>] /Rotate 0 /Contents 32 0 R>> endobj 32 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 177.05 759.60 Td (GRANITE CONSTRUCTION INCORPORA) Tj ET Q q 0 0 0 rg BT 410.18 759.60 Td (TED) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.25 745.20 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 97.71 745.20 Td (T) Tj ET Q q 0 0 0 rg BT 105.50 745.20 Td (O ) Tj ET Q q 0 0 0 rg BT 117.62 745.20 Td (THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 296.10 745.20 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 391.11 745.20 Td ( ST) Tj ET Q q 0 0 0 rg BT 407.90 745.20 Td (A) Tj ET Q q 0 0 0 rg BT 415.67 745.20 Td (TEMENTS - CONTINUED) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 276.65 730.80 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (15) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 708.25 Td (Consolidated Construction Joint V) Tj ET Q q 0 0 0 rg BT 204.99 708.25 Td (entures \(CCJVs\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 690.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.50 690.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.33 690.25 Td (, we were engaged in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.51 690.25 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.06 690.25 Td ( active CCJV) Tj ET Q q 0 0 0 rg BT 287.20 690.25 Td ( projects with total contract values ranging from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 690.25 Td ($6.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.04 690.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 678.25 Td (to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.28 678.25 Td ($290.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.17 678.25 Td (. Our share of revenue remaining to be recognized on these CCJVsranged from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.45 678.25 Td ($1.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.35 678.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.12 678.25 Td ($181.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 666.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.89 666.25 Td (. Our proportionate share of the equity in these joint ventures is between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.48 666.25 Td (50.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.31 666.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.75 666.25 Td (65.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.58 666.25 Td (. During the three and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.55 666.25 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.22 666.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 654.25 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.33 654.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.16 654.25 Td (, total revenue from CCJVs was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.41 654.25 Td ($33.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.30 654.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.74 654.25 Td ($55.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.63 654.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 487.29 654.25 Td (. During the three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 642.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.94 642.25 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.61 642.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.43 642.25 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.26 642.25 Td (, total revenue from CCJVs was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.52 642.25 Td ($10.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.41 642.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.85 642.25 Td ($25.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.74 642.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 518.40 642.25 Td (. During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 630.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.72 630.25 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.39 630.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.21 630.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.04 630.25 Td (, CCJVs provided ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.93 630.25 Td ($12.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.83 630.25 Td ( of operating cash flows and during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.67 630.25 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.34 630.25 Td ( months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 618.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.38 618.25 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.21 618.25 Td (, used ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.04 618.25 Td ($12.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.93 618.25 Td ( of operating cash flows. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 600.25 Td (Unconsolidated Construction Joint V) Tj ET Q q 0 0 0 rg BT 215.54 600.25 Td (entures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 582.25 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 582.25 Td (e account for our share of construction joint venturesthat we are not required to consolidate on a pro rata basis in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 570.25 Td (condensed consolidated statements of operations andas a single line item on the condensed consolidated balance sheets.) Tj ET Q q 0 0 0 rg BT 546.19 570.25 Td (As ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 558.25 Td (of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.83 558.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.66 558.25 Td (, these unconsolidatedjoint ventureswere engaged in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.98 558.25 Td (eleven) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.08 558.25 Td ( active projects with total contract values ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 546.25 Td (ranging from) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.99 546.25 Td ($80.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.88 546.25 Td ( to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.66 546.25 Td ($3.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.77 546.25 Td (. Our proportionate share of the equity in these unconsolidated joint ventures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 534.25 Td (ranges from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.54 534.25 Td (20.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.37 534.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.15 534.25 Td (50.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.98 534.25 Td (. ) Tj ET Q q 0 0 0 rg BT 182.42 534.25 Td (As of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.87 534.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.70 534.25 Td (, our share of the revenue remaining to be recognized on these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 522.25 Td (unconsolidated joint ventures ranged from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.90 522.25 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.79 522.25 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.57 522.25 Td ($566.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.46 522.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 504.25 Td (The following is summary financial informationrelated to unconsolidated construction joint ventures:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 469.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 469.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 469.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 469.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 469.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 469.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 469.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 443.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 443.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 443.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 443.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 443.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 443.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 443.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 417.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 417.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 417.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 417.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 417.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 417.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 417.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 391.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 391.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 391.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 391.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 391.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 391.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 391.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 365.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 365.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 365.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 365.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 365.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 365.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 365.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 339.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 339.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 339.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 339.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 339.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 339.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 339.75 80.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 493.75 m 310.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 469.75 m 310.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 493.75 m 314.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 469.75 m 314.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 493.75 m 394.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 469.75 m 394.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 493.75 m 398.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 469.75 m 398.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 493.75 m 478.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 469.75 m 478.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 493.75 m 482.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 469.75 m 482.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 493.75 m 562.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 469.75 m 562.5 469.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 417.75 m 310.5 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 417.75 m 314.5 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 417.75 m 394.5 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 417.75 m 398.5 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 417.75 m 478.5 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 417.75 m 482.5 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 417.75 m 562.5 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 404.75 m 310.5 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 404.75 m 314.5 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 404.75 m 394.5 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 404.75 m 398.5 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 404.75 m 478.5 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 404.75 m 482.5 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 404.75 m 562.5 404.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 339.75 m 310.5 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 339.75 m 314.5 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 339.75 m 394.5 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 339.75 m 398.5 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 339.75 m 478.5 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 339.75 m 482.5 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 339.75 m 562.5 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 326.75 m 310.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 326.75 m 314.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 326.75 m 394.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 326.75 m 398.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 326.75 m 478.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 326.75 m 482.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 326.75 m 562.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 314.75 m 310.5 314.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 312.75 m 310.5 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 314.75 m 314.5 314.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 312.75 m 314.5 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 314.75 m 394.5 314.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 312.75 m 394.5 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 314.75 m 398.5 314.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 312.75 m 398.5 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 314.75 m 478.5 314.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 312.75 m 478.5 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 314.75 m 482.5 314.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 312.75 m 482.5 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 314.75 m 562.5 314.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 312.75 m 562.5 312.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 474.46 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.20 484.48 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.00 474.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.90 484.43 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.00 474.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.20 484.48 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.00 474.48 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 460.32 Td (Assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 460.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 460.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 460.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 447.32 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 447.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 447.32 Td (435,098) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 447.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 447.32 Td (439,871) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 447.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 447.32 Td (336,581) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 434.32 Td (Other assets) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 120.60 438.85 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 434.32 Td (896,642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 434.32 Td (859,749) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 434.32 Td (816,262) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 421.32 Td (Less partners interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 421.32 Td (894,017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 421.32 Td (881,183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 421.32 Td (771,875) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 408.32 Td (Granites interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 408.32 Td (437,723) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 408.32 Td (418,437) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 408.32 Td (380,968) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 395.32 Td (Liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 395.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 395.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 395.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 382.32 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 382.32 Td (254,954) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 382.32 Td (218,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 382.32 Td (216,663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 369.32 Td (Billings in excess of costs and estimated earnings) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 270.02 373.85 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 369.32 Td (277,900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 369.32 Td (341,609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 369.32 Td (276,982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 356.32 Td (Other liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 356.32 Td (101,942) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 356.32 Td (89,901) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 356.32 Td (64,581) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 343.32 Td (Less partners interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 343.32 Td (434,371) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 343.32 Td (447,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 343.32 Td (385,506) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 330.32 Td (Granites interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 330.32 Td (200,425) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 330.32 Td (202,374) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 330.32 Td (172,720) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 317.32 Td (Equity in construction joint ventures) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 212.09 321.85 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 317.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 317.32 Td (237,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 317.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 317.32 Td (216,063) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 317.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 317.32 Td (208,248) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 63.00 301.53 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.92 297.45 Td (As of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 87.92 297.45 Td (June30, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 138.17 297.45 Td (, December 31, 2015 and ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 230.89 297.45 Td (June30, 2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 281.14 297.45 Td ( this balance included ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.61 297.45 Td ($8.2 million) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 405.61 297.45 Td (, ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.11 297.45 Td ($8.6 million) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.12 297.45 Td ( and ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 471.61 297.45 Td ($0.8 million) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 515.61 297.45 Td (, ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 72.00 286.65 Td (respectively) Tj ET Q q 0 0 0 rg BT 114.90 286.65 Td (, of deficit in construction joint ventures that is included in accrued expenses and other current liabilities on the condensed ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 72.00 275.85 Td (consolidated balance sheets.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 63.00 269.13 Td (2 ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 67.39 265.05 Td (Included in these balances are amounts associated with estimated recovery of customer af) Tj ET Q q 0 0 0 rg BT 390.10 265.05 Td (firmative claims.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 222.55 175.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.50 222.55 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 222.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 222.55 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 222.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 222.55 77.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 222.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 222.55 77.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 196.55 175.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.50 196.55 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 196.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 196.55 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 196.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 196.55 77.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 196.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 196.55 77.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 170.55 175.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.50 170.55 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 170.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 170.55 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 170.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 170.55 77.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 170.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 170.55 77.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 144.55 175.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.50 144.55 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 144.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 144.55 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 144.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 144.55 77.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 144.55 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 144.55 77.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 118.55 175.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 238.50 118.55 79.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.50 118.55 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.50 118.55 79.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 118.55 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 118.55 77.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 118.55 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 118.55 77.00 -24.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 248.54999999999995 m 238.5 248.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 248.54999999999995 m 317.5 248.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 235.54999999999995 m 317.5 235.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 248.54999999999995 m 321.5 248.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 235.54999999999995 m 321.5 235.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 248.54999999999995 m 400.5 248.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 235.54999999999995 m 400.5 235.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 248.54999999999995 m 404.5 248.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 235.54999999999995 m 404.5 235.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 248.54999999999995 m 481.5 248.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 235.54999999999995 m 481.5 235.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 248.54999999999995 m 485.5 248.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 235.54999999999995 m 485.5 235.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 248.54999999999995 m 562.5 248.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 235.54999999999995 m 562.5 235.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 222.54999999999995 m 238.5 222.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 222.54999999999995 m 317.5 222.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 222.54999999999995 m 321.5 222.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 222.54999999999995 m 400.5 222.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 222.54999999999995 m 404.5 222.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 222.54999999999995 m 481.5 222.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 222.54999999999995 m 485.5 222.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 222.54999999999995 m 562.5 222.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 183.54999999999995 m 238.5 183.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 183.54999999999995 m 317.5 183.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 183.54999999999995 m 321.5 183.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 183.54999999999995 m 400.5 183.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 183.54999999999995 m 404.5 183.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 183.54999999999995 m 481.5 183.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 183.54999999999995 m 485.5 183.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 183.54999999999995 m 562.5 183.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 170.54999999999995 m 238.5 170.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 170.54999999999995 m 317.5 170.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 170.54999999999995 m 321.5 170.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 170.54999999999995 m 400.5 170.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 170.54999999999995 m 404.5 170.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 170.54999999999995 m 481.5 170.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 170.54999999999995 m 485.5 170.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 170.54999999999995 m 562.5 170.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 131.54999999999995 m 238.5 131.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 131.54999999999995 m 317.5 131.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 131.54999999999995 m 321.5 131.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 131.54999999999995 m 400.5 131.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 131.54999999999995 m 404.5 131.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 131.54999999999995 m 481.5 131.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 131.54999999999995 m 485.5 131.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 131.54999999999995 m 562.5 131.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 118.54999999999995 m 238.5 118.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 95.54999999999995 m 238.5 95.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 93.54999999999995 m 238.5 93.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 118.54999999999995 m 317.5 118.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 95.54999999999995 m 317.5 95.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 238.5 93.54999999999995 m 317.5 93.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 118.54999999999995 m 321.5 118.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 95.54999999999995 m 321.5 95.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 93.54999999999995 m 321.5 93.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 118.54999999999995 m 400.5 118.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 95.54999999999995 m 400.5 95.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321.5 93.54999999999995 m 400.5 93.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 118.54999999999995 m 404.5 118.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 95.54999999999995 m 404.5 95.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 93.54999999999995 m 404.5 93.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 118.54999999999995 m 481.5 118.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 95.54999999999995 m 481.5 95.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 93.54999999999995 m 481.5 93.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 118.54999999999995 m 485.5 118.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 95.54999999999995 m 485.5 95.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 93.54999999999995 m 485.5 93.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 118.54999999999995 m 562.5 118.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 95.54999999999995 m 562.5 95.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 93.54999999999995 m 562.5 93.54999999999995 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 239.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.45 239.28 Td (Thr) Tj ET Q q 0 0 0 rg BT 270.94 239.28 Td (ee Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.50 239.28 Td (Six Months Ended June 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 226.11 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.50 226.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.50 226.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.50 226.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.50 226.28 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 213.12 Td (Revenue:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 213.12 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 213.12 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 213.12 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 213.12 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 200.12 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 200.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.15 200.12 Td (682,002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 200.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 200.12 Td (466,144) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 200.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 200.12 Td (970,046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 200.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 200.12 Td (909,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 187.12 Td (Less partners) Tj ET Q q 0 0 0 rg BT 127.63 187.12 Td ( interest and adjustments) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 226.77 191.65 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.15 187.12 Td (552,986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 187.12 Td (327,980) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 187.12 Td (694,771) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 187.12 Td (636,100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 174.12 Td (Granites interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.15 174.12 Td (129,016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 174.12 Td (138,164) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 174.12 Td (275,275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 174.12 Td (273,451) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 161.12 Td (Cost of revenue:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 161.12 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 161.12 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 161.12 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 161.12 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 148.12 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.15 148.12 Td (479,113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 148.12 Td (436,230) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 148.12 Td (940,610) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 148.12 Td (846,301) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 135.12 Td (Less partners) Tj ET Q q 0 0 0 rg BT 127.63 135.12 Td ( interest and adjustments) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 226.77 139.65 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.15 135.12 Td (347,661) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 135.12 Td (305,822) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 135.12 Td (671,702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 135.12 Td (591,869) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 122.12 Td (Granites interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.15 122.12 Td (131,452) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 122.12 Td (130,408) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.15 122.12 Td (268,908) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 122.12 Td (254,432) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 109.12 Td (Granites interest in gross \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 99.12 Td (profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.00 99.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.80 99.22 Td (\(2,436) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.65 99.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 99.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.15 99.22 Td (7,756) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 99.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 99.22 Td (6,367) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 99.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 99.22 Td (19,019) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 63.00 82.33 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.92 78.25 Td (Partners) Tj ET Q q 0 0 0 rg BT 97.75 78.25 Td ( interest representsamountsto reconcile total revenue and total cost of revenue as reported by our partners to Granite) Tj ET Q q 0 0 0 rg BT 521.84 78.25 Td (s ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 72.00 67.45 Td (interestadjusted to reflect our accounting policies.) Tj ET Q endstream endobj 33 0 obj <>] /Rotate 0 /Contents 34 0 R>> endobj 34 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 177.05 759.60 Td (GRANITE CONSTRUCTION INCORPORA) Tj ET Q q 0 0 0 rg BT 410.18 759.60 Td (TED) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.25 745.20 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 97.71 745.20 Td (T) Tj ET Q q 0 0 0 rg BT 105.50 745.20 Td (O ) Tj ET Q q 0 0 0 rg BT 117.62 745.20 Td (THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 296.10 745.20 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 391.11 745.20 Td ( ST) Tj ET Q q 0 0 0 rg BT 407.90 745.20 Td (A) Tj ET Q q 0 0 0 rg BT 415.67 745.20 Td (TEMENTS - CONTINUED) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 276.65 730.80 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (16) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 708.10 Td (During the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.36 708.10 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.19 708.10 Td (, unconsolidated construction joint venture net loss was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.31 708.10 Td ($4.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.21 708.10 Td ( of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 696.10 Td (our share was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.48 696.10 Td ($2.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.37 696.10 Td ( and during the six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.63 696.10 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.46 696.10 Td (, unconsolidated construction joint venture net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 684.10 Td (income was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.99 684.10 Td ($29.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.88 684.10 Td ( of which our share was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.63 684.10 Td ($5.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.52 684.10 Td (. During the three and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.49 684.10 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.16 684.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.98 684.10 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.81 684.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 672.10 Td (unconsolidated construction joint venture net income was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.00 672.10 Td ($34.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.89 672.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.33 672.10 Td ($67.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.22 672.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 475.88 672.10 Td (, of which our share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 660.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.05 660.10 Td ($7.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.94 660.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.38 660.10 Td ($18.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.27 660.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 255.93 660.10 Td (. ) Tj ET Q q 0 0 0 rg BT 260.75 660.10 Td (These joint venture net income amounts exclude our corporate overhead ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 648.10 Td (required to manage the joint ventures and include taxes only to the extent the applicable states have joint venture level taxes.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 630.10 Td (Line Item Joint V) Tj ET Q q 0 0 0 rg BT 134.95 630.10 Td (entures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 612.10 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 612.10 Td (e participate in various line item joint venture agreements under which each member is responsible for performing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 600.10 Td (certain discrete items of the total scope of contracted work. ) Tj ET Q q 0 0 0 rg BT 301.89 600.10 Td (The revenue for each line item joint venture member) Tj ET Q q 0 0 0 rg BT 513.28 600.10 Td () Tj ET Q q 0 0 0 rg BT 516.06 600.10 Td (s discrete ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 588.10 Td (items of work is defined in the contract with the project owner and each venture member bears the profitability risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 576.10 Td (associated with its own work. ) Tj ET Q q 0 0 0 rg BT 183.91 576.10 Td (There is not a single set of books and records for a line item joint venture. Each member ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 564.10 Td (accounts for its items of work individually as it would for any self-performed contract. ) Tj ET Q q 0 0 0 rg BT 411.89 564.10 Td (W) Tj ET Q q 0 0 0 rg BT 420.53 564.10 Td (e include only our portion of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 552.10 Td (contracts in our condensed consolidated financial statements. ) Tj ET Q q 0 0 0 rg BT 309.59 552.10 Td (As of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.04 552.10 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.87 552.10 Td (, we had) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.96 552.10 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.63 552.10 Td ( active line item joint venture ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 540.10 Td (construction projects with total contract values ranging from) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.38 540.10 Td ($42.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.27 540.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.04 540.10 Td ($87.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.94 540.10 Td ( of whichour portionranged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 528.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.94 528.10 Td ($24.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.83 528.10 Td ( to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.61 528.10 Td ($64.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.50 528.10 Td (. ) Tj ET Q q 0 0 0 rg BT 209.95 528.10 Td (As of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.39 528.10 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.22 528.10 Td (, our share of revenue remaining to be recognized on these line ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 516.10 Td (item joint ventures ranged from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.13 516.10 Td ($0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.02 516.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.80 516.10 Td ($29.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.69 516.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 498.10 Td (8. ) Tj ET Q q 0 0 0 rg BT 63.00 498.10 Td (Investments in ) Tj ET Q q 0 0 0 rg BT 127.45 498.10 Td (Affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 480.10 Td (The investments in af) Tj ET Q q 0 0 0 rg BT 149.19 480.10 Td (filiates balance on the condensed consolidated balance sheet is related to our investments in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 468.10 Td (unconsolidated non-construction entities that we account for using the equity method of accounting, including investments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 456.10 Td (in real estate entities and a non-real estate entity) Tj ET Q q 0 0 0 rg BT 254.49 456.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 438.10 Td (The investments in af) Tj ET Q q 0 0 0 rg BT 149.19 438.10 Td (filiates balanceconsists of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 403.60 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 403.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 403.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 403.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 403.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 403.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 403.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 377.60 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 377.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 377.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 377.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 377.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 377.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 377.60 80.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 427.6 m 310.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 403.6 m 310.5 403.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 427.6 m 314.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 403.6 m 314.5 403.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 427.6 m 394.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 403.6 m 394.5 403.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 427.6 m 398.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 403.6 m 398.5 403.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 427.6 m 478.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 403.6 m 478.5 403.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 427.6 m 482.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 403.6 m 482.5 403.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 427.6 m 562.5 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 403.6 m 562.5 403.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 403.6 m 394.5 403.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 403.6 m 478.5 403.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 403.6 m 562.5 403.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 377.6 m 562.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 377.6 m 310.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 365.6 m 310.5 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 363.6 m 310.5 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 377.6 m 314.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 365.6 m 314.5 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 363.6 m 314.5 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 377.6 m 394.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 365.6 m 394.5 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 363.6 m 394.5 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 377.6 m 398.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 365.6 m 398.5 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 363.6 m 398.5 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 377.6 m 478.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 365.6 m 478.5 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 363.6 m 478.5 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 377.6 m 482.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 365.6 m 482.5 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 363.6 m 482.5 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 377.6 m 562.5 377.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 365.6 m 562.5 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 363.6 m 562.5 363.6 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 408.31 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.20 418.33 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.00 408.33 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.90 418.28 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.00 408.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.20 418.33 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.00 408.33 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 394.17 Td (Equity method investments in real estate affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 394.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 394.17 Td (25,018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 394.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 394.17 Td (24,103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 394.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 394.17 Td (23,102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 381.17 Td (Equity method investment in other affiliate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 381.17 Td (9,499) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 381.17 Td (9,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 381.17 Td (9,553) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 368.17 Td (Total investments in affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 368.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 368.17 Td (34,517) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 368.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 368.17 Td (33,182) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 368.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 368.17 Td (32,655) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 347.10 Td (The following table provides summarized balance sheet information for our af) Tj ET Q q 0 0 0 rg BT 376.05 347.10 Td (filiates accounted for under the equity method ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 335.10 Td (on a combined basis:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 300.60 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 300.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 300.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 300.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 300.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 300.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 300.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 274.60 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 274.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 274.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 274.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 274.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 274.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 274.60 80.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 324.6 m 310.5 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 300.6 m 310.5 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 324.6 m 314.5 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 300.6 m 314.5 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 324.6 m 394.5 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 300.6 m 394.5 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 324.6 m 398.5 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 300.6 m 398.5 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 324.6 m 478.5 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 300.6 m 478.5 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 324.6 m 482.5 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 300.6 m 482.5 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 324.6 m 562.5 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 300.6 m 562.5 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 300.6 m 478.5 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 300.6 m 562.5 300.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 261.6 m 310.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 261.6 m 314.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 261.6 m 394.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 261.6 m 398.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 261.6 m 478.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 261.6 m 482.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 261.6 m 562.5 261.6 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 305.31 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.20 315.33 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.00 305.33 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.90 315.28 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.00 305.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.20 315.33 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.00 305.33 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 291.17 Td (Total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 291.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 291.17 Td (176,275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 291.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 291.17 Td (175,477) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 291.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 291.17 Td (175,503) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 278.17 Td (Net assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 278.17 Td (102,650) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 278.17 Td (104,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 278.17 Td (103,539) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 265.17 Td (Granites share of net assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 265.17 Td (34,517) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 265.17 Td (33,182) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 265.17 Td (32,655) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 244.10 Td (The equity method investments in real estate af) Tj ET Q q 0 0 0 rg BT 251.93 244.10 Td (filiates included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.57 244.10 Td ($19.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.46 244.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.46 244.10 Td ($18.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.35 244.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.79 244.10 Td ($17.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.68 244.10 Td ( in residential ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 232.10 Td (real estate in ) Tj ET Q q 0 0 0 rg BT 115.85 232.10 Td (T) Tj ET Q q 0 0 0 rg BT 121.26 232.10 Td (exas as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.19 232.10 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.02 232.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.02 232.10 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.60 232.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.04 232.10 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.87 232.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 430.53 232.10 Td (. ) Tj ET Q q 0 0 0 rg BT 435.35 232.10 Td (The remaining balances were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 220.10 Td (in commercial real estate in ) Tj ET Q q 0 0 0 rg BT 175.82 220.10 Td (T) Tj ET Q q 0 0 0 rg BT 181.23 220.10 Td (exas. Of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.77 220.10 Td ($176.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.66 220.10 Td ( in total assets as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.20 220.10 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.03 220.10 Td (, real estate entities had total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 208.10 Td (assets ranging from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.82 208.10 Td ($1.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.71 208.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.49 208.10 Td ($65.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.38 208.10 Td ( and the non-real estate entity had total assets of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.76 208.10 Td ($20.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.65 208.10 Td (.) Tj ET Q endstream endobj 35 0 obj <>] /Rotate 0 /Contents 36 0 R>> endobj 36 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 177.05 759.60 Td (GRANITE CONSTRUCTION INCORPORA) Tj ET Q q 0 0 0 rg BT 410.18 759.60 Td (TED) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.25 745.20 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 97.71 745.20 Td (T) Tj ET Q q 0 0 0 rg BT 105.50 745.20 Td (O ) Tj ET Q q 0 0 0 rg BT 117.62 745.20 Td (THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 296.10 745.20 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 391.11 745.20 Td ( ST) Tj ET Q q 0 0 0 rg BT 407.90 745.20 Td (A) Tj ET Q q 0 0 0 rg BT 415.67 745.20 Td (TEMENTS - CONTINUED) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 276.65 730.80 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (17) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 708.25 Td (9. ) Tj ET Q q 0 0 0 rg BT 63.00 708.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 73.37 708.25 Td (operty and Equipment, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 690.25 Td (Balances of major classes of assets and allowances for depreciation and depletion are included in property and equipment, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 678.25 Td (net on our condensed consolidated balance sheets as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 643.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 643.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 643.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 643.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 643.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 643.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 643.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 617.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 617.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 617.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 617.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 617.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 617.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 617.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 591.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 591.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 591.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 591.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 591.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 591.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 591.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 565.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 565.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 565.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 565.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 565.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 565.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 565.75 80.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 667.75 m 310.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 643.75 m 310.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 667.75 m 314.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 643.75 m 314.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 667.75 m 394.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 643.75 m 394.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 667.75 m 398.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 643.75 m 398.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 667.75 m 478.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 643.75 m 478.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 667.75 m 482.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 643.75 m 482.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 667.75 m 562.5 667.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 643.75 m 562.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 643.75 m 394.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 643.75 m 478.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 643.75 m 562.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 578.75 m 310.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 578.75 m 314.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 578.75 m 394.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 578.75 m 398.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 578.75 m 478.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 578.75 m 482.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 578.75 m 562.5 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 552.75 m 310.5 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 552.75 m 314.5 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 552.75 m 394.5 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 552.75 m 398.5 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 552.75 m 478.5 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 552.75 m 482.5 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 552.75 m 562.5 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 540.75 m 310.5 540.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 538.75 m 310.5 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 540.75 m 314.5 540.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 538.75 m 314.5 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 540.75 m 394.5 540.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 538.75 m 394.5 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 540.75 m 398.5 540.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 538.75 m 398.5 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 540.75 m 478.5 540.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 538.75 m 478.5 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 540.75 m 482.5 540.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 538.75 m 482.5 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 540.75 m 562.5 540.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 538.75 m 562.5 538.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 648.46 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.20 658.43 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.00 648.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.90 658.43 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.00 648.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.20 658.43 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.00 648.43 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 634.32 Td (Equipment and vehicles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 634.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 634.32 Td (769,307) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 634.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 634.32 Td (731,224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 634.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 634.32 Td (768,831) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 621.32 Td (Quarry property) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 621.32 Td (179,773) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 621.32 Td (178,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 621.32 Td (172,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 608.32 Td (Land and land improvements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 608.32 Td (111,425) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 608.32 Td (110,294) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 608.32 Td (110,452) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 595.32 Td (Buildings and leasehold improvements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 595.32 Td (82,733) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 595.32 Td (82,871) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 595.32 Td (82,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 582.32 Td (Office furniture and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 582.32 Td (63,721) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 582.32 Td (60,821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 582.32 Td (70,903) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 569.32 Td (Property and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 569.32 Td (1,206,959) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 569.32 Td (1,163,567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 569.32 Td (1,204,823) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 556.32 Td (Less: accumulated depreciation and depletion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 556.32 Td (797,099) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 556.32 Td (778,438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 556.32 Td (812,834) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 543.32 Td (Property and equipment, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 543.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 543.32 Td (409,860) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 543.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.15 543.32 Td (385,129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 543.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 543.32 Td (391,989) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 522.25 Td (10. ) Tj ET Q q 0 0 0 rg BT 63.00 522.25 Td (Debt Covenants and Events of Default) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 504.25 Td (Our debt and credit agreements require us to comply with various af) Tj ET Q q 0 0 0 rg BT 335.79 504.25 Td (firmative, restrictive and financial covenants. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 492.25 Td (failure to comply with any of these covenants, or to pay principal, interest or other amounts when due thereunder) Tj ET Q q 0 0 0 rg BT 514.68 492.25 Td (, would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 480.25 Td (constitute an event of default under the applicable agreements. Under certain circumstances, the occurrence of an event of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 468.25 Td (default under one of our debt or credit agreements \(or the acceleration of the maturity of the indebtedness under one of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 456.25 Td (agreements\) may constitute an event of default under one or more of our other debt or credit agreements. Default under our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 444.25 Td (debt and credit agreements could result in \(i\) us no longer being entitled to borrow under the agreements; \(ii\) termination of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 432.25 Td (the agreements; \(iii\) the requirement that any letters of credit under the agreements be cash collateralized; \(iv\) acceleration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 420.25 Td (of the maturity of outstanding indebtedness under the agreements; and/or \(v\) foreclosure on any collateral securing the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 408.25 Td (obligations under the agreements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 390.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.44 390.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.27 390.25 Td (, we had a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.31 390.25 Td ($297.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.20 390.25 Td ( credit facility) Tj ET Q q 0 0 0 rg BT 300.64 390.25 Td (, of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.41 390.25 Td ($200.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.30 390.25 Td ( was a revolving credit facility and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 378.25 Td ($97.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.89 378.25 Td ( was a term loan that matures on October 28, 2020 \(the Maturity Date\) and has a sublimit for letters of credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 366.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.83 366.25 Td ($100.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.72 366.25 Td ( \(the Credit ) Tj ET Q q 0 0 0 rg BT 184.65 366.25 Td (Agreement\). ) Tj ET Q q 0 0 0 rg BT 241.29 366.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.73 366.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.56 366.25 Td (, senior notes payable in the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.03 366.25 Td ($160.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.92 366.25 Td ( were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 354.25 Td (due to a group of institutional holders in four remaining equal annual installments from 2016 through 2019 and bear interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 342.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.72 342.25 Td (6.1) Tj ET Q q 0 0 0 rg BT 84.85 342.25 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.18 342.25 Td ( per annum \(2019 Notes\). Of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.80 342.25 Td ($40.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.69 342.25 Td ( due for the 2016 installment of the 2019 Notes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.82 342.25 Td ($30.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.71 342.25 Td ( is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 330.25 Td (included in long-term debt on the condensed consolidated balance sheets as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.46 330.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.29 330.25 Td ( and December 31, 2015, as we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 318.25 Td (have the ability and intent to pay this installment using borrowings under the Credit ) Tj ET Q q 0 0 0 rg BT 399.61 318.25 Td (Agreement or by obtaining other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 306.25 Td (sources of financing.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 288.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.44 288.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.27 288.25 Td (, we were in compliance with the covenants contained in our note purchase agreement governing our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 276.25 Td (2019 Notes and Credit ) Tj ET Q q 0 0 0 rg BT 155.21 276.25 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 204.46 276.25 Td (W) Tj ET Q q 0 0 0 rg BT 213.09 276.25 Td (e are not aware of any non-compliance by any of our unconsolidated real estate entities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 264.25 Td (with the covenants contained in their debt agreements. ) Tj ET Q endstream endobj 37 0 obj <>] /Rotate 0 /Contents 38 0 R>> endobj 38 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 177.05 759.60 Td (GRANITE CONSTRUCTION INCORPORA) Tj ET Q q 0 0 0 rg BT 410.18 759.60 Td (TED) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.25 745.20 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 97.71 745.20 Td (T) Tj ET Q q 0 0 0 rg BT 105.50 745.20 Td (O ) Tj ET Q q 0 0 0 rg BT 117.62 745.20 Td (THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 296.10 745.20 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 391.11 745.20 Td ( ST) Tj ET Q q 0 0 0 rg BT 407.90 745.20 Td (A) Tj ET Q q 0 0 0 rg BT 415.67 745.20 Td (TEMENTS - CONTINUED) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 276.65 730.80 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (18) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 713.25 Td (1) Tj ET Q q 0 0 0 rg BT 31.45 713.25 Td (1. ) Tj ET Q q 0 0 0 rg BT 63.00 713.25 Td (W) Tj ET Q q 0 0 0 rg BT 72.45 713.25 Td (eighted ) Tj ET Q q 0 0 0 rg BT 105.50 713.25 Td (A) Tj ET Q q 0 0 0 rg BT 111.98 713.25 Td (verage Shar) Tj ET Q q 0 0 0 rg BT 163.18 713.25 Td (es Outstanding and Net Income Per) Tj ET Q q 0 0 0 rg BT 314.94 713.25 Td ( Shar) Tj ET Q q 0 0 0 rg BT 337.82 713.25 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 695.25 Td (The following table presents a reconciliation of the weighted average shares outstanding used in calculating basic and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 683.25 Td (diluted net income per share as well as the calculation of basic and diluted net income per share:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 642.75 231.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 642.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 642.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 642.75 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 642.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 642.75 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 642.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 642.75 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 642.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 602.75 231.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 602.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 602.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 602.75 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 602.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 602.75 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 602.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 602.75 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 602.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 572.75 231.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 572.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 572.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 572.75 8.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 572.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 572.75 8.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 572.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 572.75 8.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 572.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 532.75 231.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.50 532.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.50 532.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 532.75 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 532.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 532.75 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 532.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 532.75 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 532.75 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 672.75 m 294.5 672.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 672.75 m 298.5 672.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 672.75 m 358.5 672.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 672.75 m 366.5 672.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 672.75 m 426.5 672.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 672.75 m 434.5 672.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 672.75 m 494.5 672.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 672.75 m 502.5 672.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 672.75 m 562.5 672.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 642.75 m 294.5 642.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 642.75 m 298.5 642.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 657.75 m 358.5 657.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 642.75 m 358.5 642.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 657.75 m 366.5 657.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 642.75 m 366.5 642.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 657.75 m 426.5 657.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 642.75 m 426.5 642.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 657.75 m 434.5 657.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 642.75 m 434.5 642.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 657.75 m 494.5 657.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 642.75 m 494.5 642.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 657.75 m 502.5 657.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 642.75 m 502.5 642.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 657.75 m 562.5 657.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 642.75 m 562.5 642.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 547.75 m 294.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 547.75 m 298.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 547.75 m 358.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 547.75 m 366.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 547.75 m 426.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 547.75 m 434.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 547.75 m 494.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 547.75 m 502.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 547.75 m 562.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 518.75 m 294.5 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 516.75 m 294.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 518.75 m 298.5 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 516.75 m 298.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 518.75 m 358.5 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 516.75 m 358.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 518.75 m 366.5 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 516.75 m 366.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 518.75 m 426.5 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 516.75 m 426.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 518.75 m 434.5 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 516.75 m 434.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 518.75 m 494.5 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 516.75 m 494.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 518.75 m 502.5 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 516.75 m 502.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 518.75 m 562.5 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 516.75 m 562.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 516.75 m 294.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 518.75 m 294.5 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 503.75 m 294.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 501.75 m 294.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 503.75 m 298.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294.5 501.75 m 298.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 503.75 m 358.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298.5 501.75 m 358.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 503.75 m 366.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 501.75 m 366.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 503.75 m 426.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366.5 501.75 m 426.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 503.75 m 434.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 501.75 m 434.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 503.75 m 494.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 501.75 m 494.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 503.75 m 502.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 501.75 m 502.5 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 503.75 m 562.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 501.75 m 562.5 501.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 662.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.45 662.43 Td (Thr) Tj ET Q q 0 0 0 rg BT 317.94 662.43 Td (ee Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.50 662.43 Td (Six Months Ended June 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 647.46 Td (\(in thousands, except per share amounts\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.00 647.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.00 647.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.00 647.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.00 647.43 Td (2015) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 66.00 632.43 Td (Numerator \(basic and diluted\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 632.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 632.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.00 632.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 632.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 617.42 Td (Net income allocated to common shareholders for basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 607.42 Td (calculation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 607.42 Td (14,130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 607.42 Td (9,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.00 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.15 607.42 Td (2,942) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 607.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 607.42 Td (1,053) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 66.00 592.43 Td (Denominator:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 592.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 592.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.00 592.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 592.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 577.42 Td (Weighted average common shares outstanding, basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 577.42 Td (39,584) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 577.42 Td (39,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 577.42 Td (39,509) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 577.42 Td (39,287) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 562.42 Td (Dilutive effect of common stock options and restricted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 552.42 Td (stock units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 552.42 Td (718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 552.42 Td (523) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.00 552.42 Td (631) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 552.42 Td (561) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 537.42 Td (Weighted average common shares outstanding, diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 537.42 Td (40,302) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 537.42 Td (39,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.15 537.42 Td (40,140) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 537.42 Td (39,848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 522.42 Td (Net income per share, basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 522.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 522.42 Td (0.36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 522.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 522.42 Td (0.24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.00 522.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 522.42 Td (0.07) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 522.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 522.42 Td (0.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 507.42 Td (Net income per share, diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 507.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 507.42 Td (0.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 507.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 507.42 Td (0.24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.00 507.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.15 507.42 Td (0.07) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 507.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 507.42 Td (0.03) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 485.25 Td (12. ) Tj ET Q q 0 0 0 rg BT 63.00 485.25 Td (Equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 467.25 Td (The following tables summarize our equity activity for the periods presented \(in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 421.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 421.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 421.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 421.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 421.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 421.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 421.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 395.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 395.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 395.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 395.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 395.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 395.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 395.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 369.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 369.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 369.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 369.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 369.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 369.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 369.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 343.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 343.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 343.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 343.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 343.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 343.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 343.75 80.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 456.75 m 310.5 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 421.75 m 310.5 421.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 456.75 m 314.5 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 421.75 m 314.5 421.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 456.75 m 394.5 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 421.75 m 394.5 421.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 456.75 m 398.5 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 421.75 m 398.5 421.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 456.75 m 478.5 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 421.75 m 478.5 421.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 456.75 m 482.5 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 421.75 m 482.5 421.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 456.75 m 562.5 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 421.75 m 562.5 421.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 421.75 m 394.5 421.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 421.75 m 478.5 421.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 343.75 m 310.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 343.75 m 314.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 343.75 m 394.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 343.75 m 398.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 343.75 m 478.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 343.75 m 482.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 343.75 m 562.5 343.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 331.75 m 310.5 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 329.75 m 310.5 329.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 331.75 m 314.5 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 329.75 m 314.5 329.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 331.75 m 394.5 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 329.75 m 394.5 329.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 331.75 m 398.5 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 329.75 m 398.5 329.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 331.75 m 478.5 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 329.75 m 478.5 329.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 331.75 m 482.5 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 329.75 m 482.5 329.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 331.75 m 562.5 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 329.75 m 562.5 329.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.30 446.43 Td (Granite) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.90 436.43 Td (Construction) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.65 426.43 Td (Incorporated) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.20 436.43 Td (Non-controlling) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.45 426.43 Td (Interests) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.35 426.43 Td (Total Equity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 412.48 Td (Balance at December) Tj ET Q q 0 0 0 rg BT 156.34 412.48 Td ( 31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 412.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 412.32 Td (839,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 412.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 412.32 Td (30,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 412.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 412.32 Td (870,121) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 399.32 Td (Purchases of common stock) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 177.92 403.85 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.80 399.37 Td (\(4,845) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 399.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 399.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 399.37 Td (\(4,845) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 399.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 386.32 Td (Other transactions with shareholders and employees) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 274.55 390.85 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 386.32 Td (9,439) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 386.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 386.32 Td (9,439) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 373.32 Td (Transactions with non-controlling interests, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 373.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 373.37 Td (\(3,355) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 373.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 373.37 Td (\(3,355) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 373.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 360.32 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 360.32 Td (2,942) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.15 360.32 Td (5,005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 360.32 Td (7,947) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 347.32 Td (Dividends on common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.80 347.37 Td (\(10,292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 347.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 347.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 347.37 Td (\(10,292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 347.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 334.48 Td (Balance at June 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 334.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 334.32 Td (836,481) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 334.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 334.32 Td (32,534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 334.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 334.32 Td (869,015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 564.00 331.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 299.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 299.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 299.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 299.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 299.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 299.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 299.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 273.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 273.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 273.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 273.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 273.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 273.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 273.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 247.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 247.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 247.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 247.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 247.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 247.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 247.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 221.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 221.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.50 221.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 221.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 221.75 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 221.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 221.75 80.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 314.75 m 310.5 314.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 299.75 m 310.5 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 314.75 m 314.5 314.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 299.75 m 314.5 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 314.75 m 394.5 314.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 299.75 m 394.5 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 314.75 m 398.5 314.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 299.75 m 398.5 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 314.75 m 478.5 314.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 299.75 m 478.5 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 314.75 m 482.5 314.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 299.75 m 482.5 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 314.75 m 562.5 314.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 299.75 m 562.5 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 299.75 m 394.5 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 299.75 m 398.5 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 299.75 m 478.5 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 221.75 m 310.5 221.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 221.75 m 314.5 221.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 221.75 m 394.5 221.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 221.75 m 398.5 221.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 221.75 m 478.5 221.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 221.75 m 482.5 221.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 221.75 m 562.5 221.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 221.75 m 310.5 221.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 209.75 m 310.5 209.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 207.75 m 310.5 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 209.75 m 314.5 209.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 207.75 m 314.5 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 209.75 m 394.5 209.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314.5 207.75 m 394.5 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 209.75 m 398.5 209.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 207.75 m 398.5 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 209.75 m 478.5 209.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 207.75 m 478.5 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 209.75 m 482.5 209.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 207.75 m 482.5 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 209.75 m 562.5 209.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 207.75 m 562.5 207.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 304.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.00 304.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.00 304.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 290.48 Td (Balance at December) Tj ET Q q 0 0 0 rg BT 156.34 290.48 Td ( 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 290.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 290.32 Td (794,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 290.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 290.32 Td (22,721) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 290.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 290.32 Td (817,106) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 277.32 Td (Purchases of common stock) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 177.92 281.85 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.80 277.37 Td (\(3,332) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 277.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 277.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 277.37 Td (\(3,332) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 277.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 264.32 Td (Other transactions with shareholders and employees) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 274.55 268.85 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 264.32 Td (5,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 264.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 264.32 Td (5,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 251.32 Td (Transactions with non-controlling interests, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 251.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.80 251.37 Td (\(1,282) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 251.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 251.37 Td (\(1,282) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 251.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 238.32 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 238.32 Td (1,053) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.30 238.37 Td (\(124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 238.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 238.32 Td (929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 225.32 Td (Dividends on common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.80 225.37 Td (\(10,233) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.65 225.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 225.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 225.37 Td (\(10,233) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 225.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 212.48 Td (Balance at June 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.00 212.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 212.32 Td (786,965) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 212.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 212.32 Td (21,315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 212.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 212.32 Td (808,280) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 63.00 196.53 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.92 192.45 Td (Represents) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 107.66 192.45 Td (109,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 136.91 192.45 Td ( shares purchased in connection with employee tax withholding for restricted stock units vested under our 2012 ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 72.00 181.65 Td (Equity Incentive Plan.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 63.00 174.93 Td (2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.92 170.85 Td (Amounts are comprised primarily of amortized restricted stock units.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 63.00 164.13 Td (3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.92 160.05 Td (Represents ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 107.66 160.05 Td (102,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 136.91 160.05 Td ( shares purchased in connection with employee tax withholding for restricted stock units vested under our 2012 ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 72.00 149.25 Td (Equity Incentive Plan.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 27.00 131.25 Td ( ) Tj ET Q endstream endobj 39 0 obj <>] /Rotate 0 /Contents 40 0 R>> endobj 40 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 177.05 759.60 Td (GRANITE CONSTRUCTION INCORPORA) Tj ET Q q 0 0 0 rg BT 410.18 759.60 Td (TED) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.25 745.20 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 97.71 745.20 Td (T) Tj ET Q q 0 0 0 rg BT 105.50 745.20 Td (O ) Tj ET Q q 0 0 0 rg BT 117.62 745.20 Td (THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 296.10 745.20 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 391.11 745.20 Td ( ST) Tj ET Q q 0 0 0 rg BT 407.90 745.20 Td (A) Tj ET Q q 0 0 0 rg BT 415.67 745.20 Td (TEMENTS - CONTINUED) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 276.65 730.80 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (19) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 708.25 Td (13. ) Tj ET Q q 0 0 0 rg BT 63.00 708.25 Td (Legal Pr) Tj ET Q q 0 0 0 rg BT 99.75 708.25 Td (oceedings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 690.25 Td (In the ordinary course of business, we or our joint ventures and af) Tj ET Q q 0 0 0 rg BT 325.80 690.25 Td (filiates are involved in various legal proceedings alleging, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 678.25 Td (among other things, public liability issues or breach of contract or tortious conduct in connection with the performance of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 666.25 Td (services and/or materials provided, the outcomes of which cannot be predicted with certainty) Tj ET Q q 0 0 0 rg BT 434.17 666.25 Td (. ) Tj ET Q q 0 0 0 rg BT 438.99 666.25 Td (W) Tj ET Q q 0 0 0 rg BT 447.62 666.25 Td (e are also subject to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 654.25 Td (government inquiries and reporting requirements seeking information concerning our compliance with government ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 642.25 Td (construction contracting requirements and various laws and regulations, the outcomes of which cannot be predicted with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 630.25 Td (certainty) Tj ET Q q 0 0 0 rg BT 97.33 630.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 612.25 Td (Some of the matters in which we or our joint ventures and af) Tj ET Q q 0 0 0 rg BT 305.53 612.25 Td (filiates are involved may involve compensatory) Tj ET Q q 0 0 0 rg BT 495.10 612.25 Td (, punitive, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 600.25 Td (other claims or sanctions that, if granted, could require us to pay damages or make other expenditures in amounts that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 588.25 Td (not probable to be incurred or cannot currently be reasonably estimated. In addition, in some circumstances our government ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 576.25 Td (contracts could be terminated, we could be suspended, debarred or incur other administrative penalties or sanctions, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 564.25 Td (payment of our costs could be disallowed.) Tj ET Q q 0 0 0 rg BT 233.89 564.25 Td (While any of our pending legal proceedings may be subject to early resolution as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 552.25 Td (a result of our ongoing ef) Tj ET Q q 0 0 0 rg BT 164.18 552.25 Td (forts to settle, whether or when any legal proceeding will be resolvedthrough settlement is neither ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 540.25 Td (predictable nor guaranteed.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 522.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 112.34 522.25 Td (, it is possible that future developments in such proceedings and inquiries could require us to \(i\) adjust existing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 510.25 Td (accruals, or \(ii\) record new accruals that we did not originally believe to be probable or that could not be reasonably ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 498.25 Td (estimated. Such changes could be material to our financial condition, results of operations and/or cash flows in any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 486.25 Td (particular reporting period. In addition to matters that are considered probable for which the loss can be reasonably ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 474.25 Td (estimated, we also disclose certain matters where the loss is considered reasonably possible and is reasonably estimable. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 456.25 Td (Liabilities relating to legal proceedings and government inquiries, to the extent that we have concluded such liabilities are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 444.25 Td (probable and the amounts of such liabilities are reasonably estimable, are recorded in our condensed consolidated balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 432.25 Td (sheets. ) Tj ET Q q 0 0 0 rg BT 92.26 432.25 Td (The aggregate liabilities recorded as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.52 432.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.35 432.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.35 432.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.93 432.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.37 432.25 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.20 432.25 Td ( related to these matters ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 420.25 Td (were approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.19 420.25 Td ($0.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.08 420.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.08 420.25 Td ($5.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.97 420.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.41 420.25 Td ($9.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.30 420.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 368.96 420.25 Td (, and were primarily included in accrued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 408.25 Td (expenses and other current liabilities. ) Tj ET Q q 0 0 0 rg BT 214.44 408.25 Td (The aggregate range of possible loss related to \(i\) matters considered reasonably ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 396.25 Td (possible, and \(ii\) reasonably possible amounts in excess of accrued losses recorded for probable loss contingencies, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 384.25 Td (immaterial as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.48 384.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.31 384.25 Td (. ) Tj ET Q endstream endobj 41 0 obj <>] /Rotate 0 /Contents 42 0 R>> endobj 42 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 12.00 Tf ET q 0 0 0 rg BT 177.05 759.60 Td (GRANITE CONSTRUCTION INCORPORA) Tj ET Q q 0 0 0 rg BT 410.18 759.60 Td (TED) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 54.25 745.20 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 97.71 745.20 Td (T) Tj ET Q q 0 0 0 rg BT 105.50 745.20 Td (O ) Tj ET Q q 0 0 0 rg BT 117.62 745.20 Td (THE CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 296.10 745.20 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 391.11 745.20 Td ( ST) Tj ET Q q 0 0 0 rg BT 407.90 745.20 Td (A) Tj ET Q q 0 0 0 rg BT 415.67 745.20 Td (TEMENTS - CONTINUED) Tj ET Q BT /F3 12.00 Tf ET q 0 0 0 rg BT 276.65 730.80 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (20) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 30.100000000000023 m 176.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 30.100000000000023 m 304.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 30.100000000000023 m 432.5 30.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 30.100000000000023 m 560.5 30.100000000000023 l s BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 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1 rg /GS0 gs 436.50 482.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 482.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 482.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 482.75 55.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 679.75 m 297.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 679.75 m 301.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 679.75 m 364.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 664.75 m 364.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 679.75 m 368.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 664.75 m 368.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 679.75 m 436.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 664.75 m 436.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 679.75 m 440.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 664.75 m 440.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 679.75 m 503.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 664.75 m 503.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 679.75 m 507.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 664.75 m 507.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 679.75 m 562.5 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 664.75 m 562.5 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 638.75 m 297.5 638.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 638.75 m 301.5 638.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 638.75 m 364.5 638.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 638.75 m 368.5 638.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 638.75 m 436.5 638.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 638.75 m 440.5 638.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 638.75 m 503.5 638.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 638.75 m 507.5 638.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 638.75 m 562.5 638.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 599.75 m 297.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 599.75 m 301.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 599.75 m 364.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 599.75 m 368.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 599.75 m 436.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 599.75 m 440.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 599.75 m 503.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 599.75 m 507.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 599.75 m 562.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 599.75 m 364.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 599.75 m 368.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 599.75 m 436.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 599.75 m 440.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 599.75 m 503.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 599.75 m 507.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 599.75 m 562.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 547.75 m 297.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 547.75 m 301.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 547.75 m 364.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 547.75 m 368.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 547.75 m 436.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 547.75 m 440.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 547.75 m 503.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 547.75 m 507.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 547.75 m 562.5 547.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 508.75 m 297.5 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 508.75 m 301.5 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 508.75 m 364.5 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 508.75 m 368.5 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 508.75 m 436.5 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 508.75 m 440.5 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 508.75 m 503.5 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 508.75 m 507.5 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 508.75 m 562.5 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 508.75 m 364.5 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 508.75 m 368.5 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 508.75 m 436.5 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 508.75 m 440.5 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 508.75 m 503.5 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 508.75 m 507.5 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 508.75 m 562.5 508.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 669.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.95 669.43 Td (Thr) Tj ET Q q 0 0 0 rg BT 383.44 669.43 Td (ee Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.40 643.43 Td (Construction) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.50 653.43 Td (Large Project) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.90 643.43 Td (Construction) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.40 653.43 Td (Construction) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.95 643.43 Td (Materials) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.55 643.43 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 629.48 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 629.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.00 629.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 629.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 629.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 616.32 Td (Total revenue from reportable segments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 616.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 616.32 Td (331,346) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 616.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 616.32 Td (197,322) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 616.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 616.32 Td (115,342) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 616.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 616.32 Td (644,010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 603.32 Td (Elimination of intersegment revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 603.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 603.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.80 603.37 Td (\(39,431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.65 603.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 603.37 Td (\(39,431) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 603.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 590.32 Td (Revenue from external customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 590.32 Td (331,346) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 590.32 Td (197,322) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 590.32 Td (75,911) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 590.32 Td (604,579) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 577.32 Td (Gross profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 577.32 Td (49,056) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 577.32 Td (13,654) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 577.32 Td (10,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 577.32 Td (73,201) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 564.32 Td (Depreciation, depletion and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.15 564.32 Td (5,345) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 564.32 Td (1,519) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 564.32 Td (5,859) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 564.32 Td (12,723) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 538.48 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 538.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.00 538.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 538.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 538.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 525.32 Td (Total revenue from reportable segments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 525.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 525.32 Td (305,605) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 525.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 525.32 Td (182,893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 525.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 525.32 Td (113,449) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 525.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 525.32 Td (601,947) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 512.32 Td (Elimination of intersegment revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 512.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 512.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.80 512.37 Td (\(32,705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.65 512.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 512.37 Td (\(32,705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 512.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 499.32 Td (Revenue from external customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 499.32 Td (305,605) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 499.32 Td (182,893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 499.32 Td (80,744) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 499.32 Td (569,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 486.32 Td (Gross profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 486.32 Td (38,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 486.32 Td (14,479) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 486.32 Td (10,837) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 486.32 Td (64,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 473.32 Td (Depreciation, depletion and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.15 473.32 Td (4,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 473.32 Td (2,359) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 473.32 Td (5,575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 473.32 Td (12,800) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 412.75 234.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 412.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 412.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 412.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 412.75 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 412.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 412.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 412.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 412.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 386.75 234.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 386.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 386.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 386.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 386.75 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 386.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 386.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 386.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 386.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 360.75 234.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 360.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 360.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 360.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 360.75 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 360.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 360.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 360.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 360.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 334.75 234.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 334.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 334.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 334.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 334.75 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 334.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 334.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 334.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 334.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 308.75 234.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 308.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 308.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 308.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 308.75 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 308.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 308.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 308.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 308.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 282.75 234.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 282.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 282.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 282.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 282.75 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 282.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 282.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 282.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 282.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 256.75 234.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 256.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 256.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 256.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 256.75 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 256.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 256.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 256.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 256.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 230.75 234.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 230.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.50 230.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 230.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 230.75 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 230.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 230.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 230.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 230.75 55.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 453.75 m 297.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 453.75 m 301.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 453.75 m 364.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 438.75 m 364.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 453.75 m 368.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 438.75 m 368.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 453.75 m 436.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 438.75 m 436.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 453.75 m 440.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 438.75 m 440.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 453.75 m 503.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 438.75 m 503.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 453.75 m 507.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 438.75 m 507.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 453.75 m 562.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 438.75 m 562.5 438.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 412.75 m 297.5 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 412.75 m 301.5 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 412.75 m 364.5 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 412.75 m 368.5 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 412.75 m 436.5 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 412.75 m 440.5 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 412.75 m 503.5 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 412.75 m 507.5 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 412.75 m 562.5 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 373.75 m 297.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 373.75 m 301.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 373.75 m 364.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 373.75 m 368.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 373.75 m 436.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 373.75 m 440.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 373.75 m 503.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 373.75 m 507.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 373.75 m 562.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 373.75 m 364.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 373.75 m 368.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 373.75 m 436.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 373.75 m 440.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 373.75 m 503.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 373.75 m 507.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 373.75 m 562.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 308.75 m 297.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 308.75 m 301.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 308.75 m 364.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 308.75 m 368.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 308.75 m 436.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 308.75 m 440.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 308.75 m 503.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 308.75 m 507.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 308.75 m 562.5 308.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 269.75 m 297.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 297.5 269.75 m 301.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 269.75 m 364.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 269.75 m 368.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 269.75 m 436.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 269.75 m 440.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 269.75 m 503.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 269.75 m 507.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 269.75 m 562.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301.5 269.75 m 364.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 269.75 m 368.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 269.75 m 436.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 269.75 m 440.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 269.75 m 503.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 269.75 m 507.5 269.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507.5 269.75 m 562.5 269.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 443.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.00 443.43 Td (Six Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.40 417.43 Td (Construction) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.50 427.43 Td (Large Project) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.90 417.43 Td (Construction) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.40 427.43 Td (Construction) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.95 417.43 Td (Materials) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.55 417.43 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 403.48 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 403.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.00 403.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 403.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 403.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 390.32 Td (Total revenue from reportable segments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 390.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 390.32 Td (540,833) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 390.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 390.32 Td (392,771) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 390.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 390.32 Td (164,273) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 390.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 390.32 Td (1,097,877) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 377.32 Td (Elimination of intersegment revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 377.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 377.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.80 377.37 Td (\(53,846) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.65 377.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 377.37 Td (\(53,846) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 377.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 364.32 Td (Revenue from external customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 364.32 Td (540,833) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 364.32 Td (392,771) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 364.32 Td (110,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 364.32 Td (1,044,031) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 351.32 Td (Gross profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 351.32 Td (75,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 351.32 Td (27,159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 351.32 Td (9,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 351.32 Td (112,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 338.32 Td (Depreciation, depletion and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.15 338.32 Td (9,870) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 338.32 Td (2,988) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 338.32 Td (11,196) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 338.32 Td (24,054) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 325.32 Td (Segment assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 325.32 Td (151,877) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 325.32 Td (306,440) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 325.32 Td (297,910) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 325.32 Td (756,227) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 299.48 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 299.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.00 299.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 299.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 299.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 286.32 Td (Total revenue from reportable segments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.00 286.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 286.32 Td (494,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 286.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 286.32 Td (373,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 286.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 286.32 Td (167,149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 286.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 286.32 Td (1,034,472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 273.32 Td (Elimination of intersegment revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 273.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 273.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.80 273.37 Td (\(44,981) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.65 273.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 273.37 Td (\(44,981) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 273.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 260.32 Td (Revenue from external customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 260.32 Td (494,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 260.32 Td (373,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 260.32 Td (122,168) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 260.32 Td (989,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 247.32 Td (Gross profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.15 247.32 Td (59,479) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 247.32 Td (32,015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 247.32 Td (11,635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 247.32 Td (103,129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 234.32 Td (Depreciation, depletion and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.15 234.32 Td (9,558) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 234.32 Td (5,003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 234.32 Td (11,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 234.32 Td (25,568) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 221.32 Td (Segment assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.15 221.32 Td (143,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 221.32 Td (265,124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 221.32 Td (308,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 221.32 Td (716,470) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 200.25 Td (A) Tj ET Q q 0 0 0 rg BT 69.67 200.25 Td ( reconciliation of segment gross profit to consolidated income before provision for income taxesis as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 159.75 213.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 159.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 159.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 159.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 159.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 159.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 159.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 159.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 133.75 213.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 133.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 133.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 133.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 133.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 133.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 133.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 133.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 107.75 213.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 107.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 107.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 107.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 107.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 107.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 107.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 107.75 67.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 189.75 m 276.5 189.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 189.75 m 346.5 189.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 174.75 m 346.5 174.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 189.75 m 350.5 189.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 174.75 m 350.5 174.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 189.75 m 420.5 189.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 174.75 m 420.5 174.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 189.75 m 424.5 189.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 174.75 m 424.5 174.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 189.75 m 491.5 189.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 174.75 m 491.5 174.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 189.75 m 495.5 189.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 174.75 m 495.5 174.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 189.75 m 562.5 189.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 174.75 m 562.5 174.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 159.75 m 276.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 159.75 m 346.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 159.75 m 350.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 159.75 m 420.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 159.75 m 424.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 159.75 m 491.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 159.75 m 495.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 159.75 m 562.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 159.75 m 346.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 159.75 m 420.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 159.75 m 491.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 159.75 m 562.5 159.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 107.75 m 276.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 107.75 m 346.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 107.75 m 350.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 107.75 m 420.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 107.75 m 424.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 107.75 m 491.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 107.75 m 495.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 107.75 m 562.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 95.75 m 276.5 95.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 93.75 m 276.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 107.75 m 346.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 95.75 m 346.5 95.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 93.75 m 346.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 95.75 m 350.5 95.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 93.75 m 350.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 107.75 m 420.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 95.75 m 420.5 95.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 93.75 m 420.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 95.75 m 424.5 95.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 93.75 m 424.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 107.75 m 491.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 95.75 m 491.5 95.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 93.75 m 491.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 95.75 m 495.5 95.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 93.75 m 495.5 93.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 107.75 m 562.5 107.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 95.75 m 562.5 95.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 93.75 m 562.5 93.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.45 179.43 Td (Thr) Tj ET Q q 0 0 0 rg BT 299.94 179.43 Td (ee Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.50 179.43 Td (Six Months Ended June 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 164.46 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 164.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.00 164.43 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 164.43 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 164.43 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 150.32 Td (Total gross profitfrom reportable segments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 150.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.15 150.32 Td (73,201) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 150.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 150.32 Td (64,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 150.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 150.32 Td (112,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 150.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 150.32 Td (103,129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 137.32 Td (Selling, general and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.15 137.32 Td (48,705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 137.32 Td (47,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 137.32 Td (104,838) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 137.32 Td (98,549) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 124.32 Td (Gain on sales of property and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.80 124.37 Td (\(1,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 124.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.30 124.37 Td (\(475) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 124.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 124.37 Td (\(1,966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 124.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 124.37 Td (\(1,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 124.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 111.32 Td (Other \(income\) expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.80 111.37 Td (\(1,511) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 111.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 111.32 Td (2,635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 111.37 Td (\(2,112) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 111.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 111.32 Td (4,468) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 98.32 Td (Income before provision for income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 98.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.15 98.32 Td (27,373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 98.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 98.32 Td (14,514) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 98.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 98.32 Td (11,686) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 98.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 98.32 Td (1,398) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 43 0 obj <>] /Rotate 0 /Contents 44 0 R>> endobj 44 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (21) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 742.25 Td (Item 2. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 742.25 Td (MANAGEMENTS DISCUSSION ) Tj ET Q q 0 0 0 rg BT 213.02 742.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 236.64 742.25 Td (ANAL) Tj ET Q q 0 0 0 rg BT 264.05 742.25 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 302.31 742.25 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 360.92 742.25 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 424.27 742.25 Td (AND) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.93 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.43 742.25 Td (RESUL) Tj ET Q q 0 0 0 rg BT 480.86 742.25 Td (TS OF) Tj ET Q q 0 0 0 rg BT 509.11 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 730.25 Td (OPERA) Tj ET Q q 0 0 0 rg BT 97.26 730.25 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 712.25 Td (Forward-Looking ) Tj ET Q q 0 0 0 rg BT 142.17 712.25 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 181.99 712.25 Td (e) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 694.25 Td (Fr) Tj ET Q q 0 0 0 rg BT 72.63 694.25 Td (om time to time, Granite makes certain comments and disclosur) Tj ET Q q 0 0 0 rg BT 327.78 694.25 Td (es in r) Tj ET Q q 0 0 0 rg BT 352.40 694.25 Td (eports and statements, including in this Quarterly ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 682.25 Td (Report on Form 10-Q, or statements made by its officers or dir) Tj ET Q q 0 0 0 rg BT 314.83 682.25 Td (ectors, that ar) Tj ET Q q 0 0 0 rg BT 370.85 682.25 Td (e not based on historical facts, including ) 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assumes, believes, expects, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 634.25 Td (estimates, anticipates, intends, plans, appears, may) Tj ET Q q 0 0 0 rg BT 329.16 634.25 Td (, will, should, could, would, continue, and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 622.25 Td (the negatives ther) Tj ET Q q 0 0 0 rg BT 133.72 622.25 Td (eof or other comparable terminology or by the context in which they ar) Tj ET Q q 0 0 0 rg BT 418.29 622.25 Td (e made. In addition, other written ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 610.25 Td (or oral statements that constitute forwar) Tj ET Q q 0 0 0 rg BT 224.58 610.25 Td (d-looking statements have been made and may in the futur) Tj ET Q q 0 0 0 rg BT 457.77 610.25 Td (e be made by or on behalf ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 598.25 Td (of Granite.These forwar) Tj ET Q q 0 0 0 rg BT 162.08 598.25 Td (d-looking statements ar) Tj ET Q q 0 0 0 rg BT 256.14 598.25 Td (e estimates r) Tj ET Q q 0 0 0 rg BT 306.32 598.25 Td (eflecting the best judgment of senior management and r) Tj ET Q q 0 0 0 rg BT 528.68 598.25 Td (eflect ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 586.25 Td (our curr) Tj ET Q q 0 0 0 rg BT 96.24 586.25 Td (ent expectations r) Tj ET Q q 0 0 0 rg BT 166.96 586.25 Td (egar) Tj ET Q q 0 0 0 rg BT 184.92 586.25 Td (ding futur) Tj ET Q q 0 0 0 rg BT 224.27 586.25 Td (e events, occurr) Tj ET Q q 0 0 0 rg BT 287.49 586.25 Td (ences, cir) Tj ET Q q 0 0 0 rg BT 325.43 586.25 Td (cumstances, activities, performance, outcomes and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 574.25 Td (r) Tj ET Q q 0 0 0 rg BT 66.52 574.25 Td (esults.These expectations may or may not be r) Tj ET Q q 0 0 0 rg BT 253.06 574.25 Td (ealized.Some of these expectations may be based on beliefs, assumptions or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 562.25 Td (estimates that may pr) Tj ET Q q 0 0 0 rg BT 148.45 562.25 Td (ove to be incorr) Tj ET Q q 0 0 0 rg BT 211.68 562.25 Td (ect.In addition, our business and operations involve numer) Tj ET Q q 0 0 0 rg BT 449.61 562.25 Td (ous risks and uncertainties, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 550.25 Td (many of which ar) Tj ET Q q 0 0 0 rg BT 132.35 550.25 Td (e beyond our contr) Tj ET Q q 0 0 0 rg BT 207.79 550.25 Td (ol, which could r) Tj ET Q q 0 0 0 rg BT 275.19 550.25 Td (esult in our expectations not being r) Tj ET Q q 0 0 0 rg BT 419.25 550.25 Td (ealized or otherwise materially ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 538.25 Td (affect our business, financial condition, r) Tj ET Q q 0 0 0 rg BT 227.34 538.25 Td (esults of operations, cash flows and liquidity) Tj ET Q q 0 0 0 rg BT 405.40 538.25 Td (.Such risks and uncertainties include, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 526.25 Td (but ar) Tj ET Q q 0 0 0 rg BT 86.80 526.25 Td (e not limited to, those mor) Tj ET Q q 0 0 0 rg BT 191.42 526.25 Td (e specifically described in our ) Tj ET Q q 0 0 0 rg BT 314.26 526.25 Td (Annual Report on Form 10-K under Item 1A. Risk Factors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.74 526.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 514.25 Td (Due to the inher) Tj ET Q q 0 0 0 rg BT 127.89 514.25 Td (ent risks and uncertainties associated with our forwar) Tj ET Q q 0 0 0 rg BT 343.91 514.25 Td (d-looking statements, the r) Tj ET Q q 0 0 0 rg BT 450.19 514.25 Td (eader is cautioned not to ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 502.25 Td (place undue r) Tj ET Q q 0 0 0 rg BT 117.61 502.25 Td (eliance on them.The r) Tj ET Q q 0 0 0 rg BT 206.95 502.25 Td (eader is also cautioned that the forwar) Tj ET Q q 0 0 0 rg BT 362.12 502.25 Td (d-looking statements contained her) Tj ET Q q 0 0 0 rg BT 502.56 502.25 Td (ein speak only ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 490.25 Td (as of the date of this Quarterly Report on Form 10-Q and, except as r) Tj ET Q q 0 0 0 rg BT 341.20 490.25 Td (equir) Tj ET Q q 0 0 0 rg BT 361.94 490.25 Td (ed by law) Tj ET Q q 0 0 0 rg BT 399.52 490.25 Td (, we undertake no obligation to r) Tj ET Q q 0 0 0 rg BT 530.53 490.25 Td (evise or ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 478.25 Td (update any forwar) Tj ET Q q 0 0 0 rg BT 136.52 478.25 Td (d-looking statements for any r) Tj ET Q q 0 0 0 rg BT 256.69 478.25 Td (eason) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.02 478.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 454.25 Td (Overview) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 436.25 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 436.25 Td (e are one of the lar) Tj ET Q q 0 0 0 rg BT 146.13 436.25 Td (gest diversified heavy civil contractors and construction materials producers in the United States, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 424.25 Td (engaged in the construction and improvement of streets, roads, highways, mass transit facilities, airport infrastructure, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 412.25 Td (bridges, trenchless and under) Tj ET Q q 0 0 0 rg BT 179.45 412.25 Td (ground utilities, power) Tj ET Q q 0 0 0 rg BT 270.07 412.25 Td (-related facilities, water) Tj ET Q q 0 0 0 rg BT 364.54 412.25 Td (-related facilities, utilities, tunnels, dams and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 400.25 Td (other infrastructure-related projects. ) Tj ET Q q 0 0 0 rg BT 209.42 400.25 Td (W) Tj ET Q q 0 0 0 rg BT 218.05 400.25 Td (e have three reportable business segments: Construction, Lar) Tj ET Q q 0 0 0 rg BT 461.13 400.25 Td (ge Project Construction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 388.25 Td (and Construction Materials \(see Note 14 of Notes to the Condensed Consolidated Financial Statements\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 370.25 Td (In addition to business segments, we review our business by operating groups and by public and private market sectors. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 358.25 Td (operating groups are defined as follows: \(i\) California; \(ii\) Northwest, which primarily includes of) Tj ET Q q 0 0 0 rg BT 456.05 358.25 Td (fices in ) Tj ET Q q 0 0 0 rg BT 487.15 358.25 Td (Alaska, ) Tj ET Q q 0 0 0 rg BT 519.37 358.25 Td (Arizona, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 346.25 Td (Nevada, Utah and ) Tj ET Q q 0 0 0 rg BT 137.23 346.25 Td (W) Tj ET Q q 0 0 0 rg BT 145.87 346.25 Td (ashington; \(iii\) Heavy Civil, which primarily includes of) Tj ET Q q 0 0 0 rg BT 371.76 346.25 Td (fices in California, Florida, New ) Tj ET Q q 0 0 0 rg BT 503.85 346.25 Td (Y) Tj ET Q q 0 0 0 rg BT 510.08 346.25 Td (ork and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 334.25 Td (T) Tj ET Q q 0 0 0 rg BT 68.41 334.25 Td (exas; and \(iv\) Kenny) Tj ET Q q 0 0 0 rg BT 151.34 334.25 Td (, which primarily includes an of) Tj ET Q q 0 0 0 rg BT 278.91 334.25 Td (fice in Illinois. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 316.25 Td (W) Tj ET Q q 0 0 0 rg BT 72.04 316.25 Td (ith the exception of contract change orders and af) Tj ET Q q 0 0 0 rg BT 269.55 316.25 Td (firmative claims, which are typically sole-source, our construction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 304.25 Td (contracts are primarily obtained through competitive bidding in response to solicitations by both public agencies and private ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 292.25 Td (parties and on a negotiated basis as a result of solicitations from private parties. Our bidding activity is af) Tj ET Q q 0 0 0 rg BT 483.54 292.25 Td (fected by such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 280.25 Td (factors as the nature and volume of advertising and other solicitations, contract backlog, available personnel, current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 268.25 Td (utilization of equipment and other resources, our ability to obtain necessary surety bonds and competitive considerations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 256.25 Td (Bidding activity) Tj ET Q q 0 0 0 rg BT 127.07 256.25 Td (, contract backlog and revenue resulting from the award of new contracts may vary significantly from period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 244.25 Td (to period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 226.25 Td (The four primary economic drivers of our business are \(i\) the overall health of the economy; \(ii\) federal, state and local ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 214.25 Td (public funding levels; \(iii\) population growth resulting in public and private development; and \(iv\) the need to replace or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 202.25 Td (repair aging infrastructure. Changes in these drivers can either reduce our revenues and/or gross profit mar) Tj ET Q q 0 0 0 rg BT 489.32 202.25 Td (gins or provide ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 190.25 Td (opportunities for revenue growth and gross mar) Tj ET Q q 0 0 0 rg BT 253.33 190.25 Td (gin improvement.) Tj ET Q endstream endobj 45 0 obj <>] /Rotate 0 /Contents 46 0 R>> endobj 46 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (22) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 742.25 Td (Curr) Tj ET Q q 0 0 0 rg BT 84.48 742.25 Td (ent Economic Envir) Tj ET Q q 0 0 0 rg BT 169.29 742.25 Td (onment and Outlook) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 724.25 Td (Market conditions remain stable but highly competitive across geographies and end markets. Current record backlog of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.58 724.25 Td ($3.8 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 712.25 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.11 712.25 Td ( reflects positive steady trends, against a backdrop of modest economic growth. Private market activity continues to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 700.25 Td (provide growth opportunities across geographies and end markets, while public spending trends remain tepid, in line with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 688.25 Td (recent years.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 670.25 Td (The December 2015 passage of the five-year Fixing ) Tj ET Q q 0 0 0 rg BT 272.93 670.25 Td (America) Tj ET Q q 0 0 0 rg BT 310.13 670.25 Td (s Surface ) Tj ET Q q 0 0 0 rg BT 349.38 670.25 Td (T) Tj ET Q q 0 0 0 rg BT 355.13 670.25 Td (ransportation \(F) Tj ET Q q 0 0 0 rg BT 422.99 670.25 Td (AST\) ) Tj ET Q q 0 0 0 rg BT 451.59 670.25 Td (Act provides an important ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 658.25 Td (basis of growth for our industry) Tj ET Q q 0 0 0 rg BT 189.28 658.25 Td (. State departments of transportation are expected to act on the F) Tj ET Q q 0 0 0 rg BT 446.23 658.25 Td (AST) Tj ET Q q 0 0 0 rg BT 464.94 658.25 Td ( ) Tj ET Q q 0 0 0 rg BT 466.89 658.25 Td (Act, and we expect a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 646.25 Td (positive impact in our business to begin late in 2016 and to accelerate in 2017. ) Tj ET Q q 0 0 0 rg BT 378.85 646.25 Td (W) Tj ET Q q 0 0 0 rg BT 387.49 646.25 Td (e expect to see most new activity in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 634.25 Td (Construction and Construction Materials segments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 616.25 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 616.25 Td (e continue to pursue numerous bidding opportunities, with Granite as a sole contractor or as a partner) Tj ET Q q 0 0 0 rg BT 476.25 616.25 Td (. ) Tj ET Q q 0 0 0 rg BT 480.70 616.25 Td (As we prioritize the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 604.25 Td (tens of billions of dollars) Tj ET Q q 0 0 0 rg BT 165.58 604.25 Td ( worth of future North ) Tj ET Q q 0 0 0 rg BT 256.39 604.25 Td (American projects, we expect to build and maintain a broad roster from $10 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 592.25 Td (billion to $20 billion of bidding opportunities over a rolling, two-year period for the foreseeable future. Our proportionate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 580.25 Td (share of awards should remain consistent with recent history) Tj ET Q q 0 0 0 rg BT 304.51 580.25 Td (. ) Tj ET Q q 0 0 0 rg BT 309.33 580.25 Td (W) Tj ET Q q 0 0 0 rg BT 317.97 580.25 Td (e are focused on responsibly addressing risk in all of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 568.25 Td (projects, allowing us to focus on projects with appropriate returns relative to risks. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 550.25 Td (Results ) Tj ET Q q 0 0 0 rg BT 96.61 550.25 Td (of ) Tj ET Q q 0 0 0 rg BT 107.44 550.25 Td (Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 532.25 Td (Our operations are typically af) Tj ET Q q 0 0 0 rg BT 184.99 532.25 Td (fected more by weather conditions during the first and fourth quarters of our fiscal year which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 520.25 Td (may alter our construction schedules and can create variability in our revenues and profitability) Tj ET Q q 0 0 0 rg BT 443.60 520.25 Td (. ) Tj ET Q q 0 0 0 rg BT 448.42 520.25 Td (Therefore, the results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 508.25 Td (operations of a given quarter are not indicative of the results to be expected for the full year) Tj ET Q q 0 0 0 rg BT 428.69 508.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 490.25 Td (The following table presents a financial summary for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 490.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.63 490.25 Td ( and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.57 490.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.40 490.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.84 490.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.84 490.25 Td (. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 453.75 213.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 453.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 453.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 453.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 453.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 453.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 453.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 453.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 427.75 213.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 427.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 427.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 427.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 427.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 427.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 427.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 427.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 401.75 213.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 401.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 401.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 401.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 401.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 401.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 401.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 401.75 67.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 479.75 m 276.5 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 479.75 m 346.5 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 466.75 m 346.5 466.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 479.75 m 350.5 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 466.75 m 350.5 466.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 479.75 m 420.5 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 466.75 m 420.5 466.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 479.75 m 424.5 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 466.75 m 424.5 466.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 479.75 m 491.5 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 466.75 m 491.5 466.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 479.75 m 495.5 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 466.75 m 495.5 466.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 479.75 m 562.5 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 466.75 m 562.5 466.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 453.75 m 276.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 453.75 m 346.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 453.75 m 350.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 453.75 m 420.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 453.75 m 424.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 453.75 m 491.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 453.75 m 495.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 453.75 m 562.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 453.75 m 346.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 453.75 m 420.5 453.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 453.75 m 562.5 453.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.45 470.48 Td (Thr) Tj ET Q q 0 0 0 rg BT 299.94 470.48 Td (ee Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.50 470.48 Td (Six Months Ended June 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 457.31 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 457.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.00 457.48 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 457.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 457.48 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 444.32 Td (Total revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 444.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 444.32 Td (604,579) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 444.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 444.32 Td (569,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 444.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 444.32 Td (1,044,031) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 444.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 444.32 Td (989,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 431.32 Td (Gross profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.15 431.32 Td (73,201) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 431.32 Td (64,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 431.32 Td (112,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 431.32 Td (103,129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 418.32 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.15 418.32 Td (25,862) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 418.32 Td (17,149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 418.32 Td (9,574) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 418.32 Td (5,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 405.32 Td (Total other \(income\) expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.80 405.37 Td (\(1,511) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 405.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 405.32 Td (2,635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 405.37 Td (\(2,112) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 405.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 405.32 Td (4,468) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 392.32 Td (Amount attributable to non-controlling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.80 392.37 Td (\(4,327) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 392.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 392.32 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 392.37 Td (\(5,005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 392.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 392.32 Td (124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 379.32 Td (Net income attributable to Granite Construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 369.32 Td (Incorporated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.15 370.42 Td (14,130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 370.42 Td (9,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 370.42 Td (2,942) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 370.42 Td (1,053) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 342.25 Td (Revenue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 324.25 Td (T) Tj ET Q q 0 0 0 rg BT 68.75 324.25 Td (otal Revenue by Segment) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 285.75 120.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 183.50 285.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.50 285.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 285.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 285.75 39.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 285.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 285.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 285.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 285.75 39.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 285.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 285.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 285.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 285.75 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 285.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 285.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 529.50 285.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.50 285.75 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 259.75 120.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 183.50 259.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.50 259.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 259.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 259.75 39.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 259.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 259.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 259.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 259.75 39.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 259.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 259.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 259.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 259.75 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 259.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 259.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 529.50 259.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.50 259.75 38.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 313.75 m 183.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 313.75 m 187.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 298.75 m 187.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 313.75 m 236.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 298.75 m 236.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 313.75 m 240.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 298.75 m 240.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 313.75 m 279.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 298.75 m 279.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 313.75 m 283.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 298.75 m 283.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 313.75 m 332.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 298.75 m 332.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 313.75 m 336.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 298.75 m 336.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 313.75 m 375.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 298.75 m 375.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 313.75 m 379.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 298.75 m 379.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 313.75 m 431.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 298.75 m 431.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 313.75 m 435.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 298.75 m 435.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 313.75 m 473.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 298.75 m 473.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 313.75 m 477.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 298.75 m 477.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 313.75 m 529.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 298.75 m 529.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 529.5 313.75 m 533.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 529.5 298.75 m 533.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 533.5 313.75 m 571.5 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 533.5 298.75 m 571.5 298.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 285.75 m 183.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 285.75 m 187.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 285.75 m 236.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 285.75 m 240.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 285.75 m 279.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 285.75 m 283.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 285.75 m 332.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 285.75 m 336.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 285.75 m 375.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 285.75 m 379.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 285.75 m 431.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 285.75 m 435.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 285.75 m 473.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 285.75 m 477.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 285.75 m 529.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 529.5 285.75 m 533.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 533.5 285.75 m 571.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 285.75 m 332.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 285.75 m 529.5 285.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 246.75 m 183.5 246.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 246.75 m 187.5 246.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 246.75 m 236.5 246.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 246.75 m 240.5 246.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 246.75 m 279.5 246.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i 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(100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.65 237.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 237.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.60 237.32 Td (1,044,031) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.10 237.32 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 237.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 237.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 237.32 Td (989,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.10 237.32 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.65 237.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 47 0 obj <>] /Rotate 0 /Contents 48 0 R>> endobj 48 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 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1 rg /GS0 gs 431.50 653.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 653.75 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 653.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 653.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 529.50 653.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.50 653.75 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 627.75 120.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 183.50 627.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.50 627.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 627.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 627.75 39.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 627.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 627.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 627.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 627.75 39.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 627.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 627.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 627.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 627.75 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 627.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 627.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 529.50 627.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.50 627.75 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 601.75 120.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 183.50 601.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.50 601.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 601.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 601.75 39.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 601.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 601.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 601.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 601.75 39.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 601.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 601.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 601.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 601.75 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 601.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 601.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 529.50 601.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.50 601.75 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 575.75 120.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 183.50 575.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.50 575.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 575.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 575.75 39.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 575.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 575.75 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.50 575.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.50 575.75 39.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 575.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 575.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 575.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.50 575.75 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 575.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 575.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 529.50 575.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.50 575.75 38.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 731.75 m 183.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 731.75 m 187.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 718.75 m 187.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 731.75 m 236.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 718.75 m 236.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 731.75 m 240.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 718.75 m 240.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 731.75 m 279.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 718.75 m 279.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 731.75 m 283.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 718.75 m 283.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 731.75 m 332.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 718.75 m 332.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 731.75 m 336.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 718.75 m 336.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 731.75 m 375.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 718.75 m 375.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 731.75 m 379.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 718.75 m 379.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 731.75 m 431.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 718.75 m 431.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 731.75 m 435.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 718.75 m 435.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 731.75 m 473.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 718.75 m 473.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 731.75 m 477.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 718.75 m 477.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 731.75 m 529.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 718.75 m 529.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 529.5 731.75 m 533.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 529.5 718.75 m 533.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 533.5 731.75 m 571.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 533.5 718.75 m 571.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 705.75 m 183.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 705.75 m 187.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 705.75 m 236.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 705.75 m 240.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 705.75 m 279.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 705.75 m 283.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 705.75 m 332.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 705.75 m 336.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 705.75 m 375.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 705.75 m 379.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 705.75 m 431.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 705.75 m 435.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 705.75 m 473.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 705.75 m 477.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 705.75 m 529.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 529.5 705.75 m 533.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 533.5 705.75 m 571.5 705.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 575.75 m 183.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 575.75 m 187.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 575.75 m 236.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 575.75 m 240.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 575.75 m 279.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 575.75 m 283.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 575.75 m 332.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 575.75 m 336.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 575.75 m 375.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 575.75 m 379.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 575.75 m 431.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 575.75 m 435.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 575.75 m 473.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 575.75 m 477.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 575.75 m 529.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 529.5 575.75 m 533.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 533.5 575.75 m 571.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 563.75 m 183.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 561.75 m 183.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 563.75 m 187.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 561.75 m 187.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 563.75 m 236.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 561.75 m 236.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 563.75 m 240.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 561.75 m 240.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 563.75 m 279.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 561.75 m 279.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 563.75 m 283.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 561.75 m 283.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 575.75 m 332.5 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 563.75 m 332.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 561.75 m 332.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 563.75 m 336.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332.5 561.75 m 336.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 563.75 m 375.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 561.75 m 375.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 563.75 m 379.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 561.75 m 379.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 563.75 m 431.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 561.75 m 431.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 563.75 m 435.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 561.75 m 435.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 563.75 m 473.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 561.75 m 473.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 563.75 m 477.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 561.75 m 477.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 563.75 m 529.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 561.75 m 529.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 529.5 563.75 m 533.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 529.5 561.75 m 533.5 561.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 533.5 563.75 m 571.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 533.5 561.75 m 571.5 561.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.45 722.48 Td (Thr) Tj ET Q q 0 0 0 rg BT 232.94 722.48 Td (ee Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.50 722.48 Td (Six Months Ended June 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 709.31 Td (\(dollars in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.00 709.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 319.00 709.48 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.00 709.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.00 709.48 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 696.32 Td (California:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.00 696.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.00 696.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.00 696.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 696.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 696.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.00 696.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 696.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.00 696.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 683.32 Td (Public sector) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.00 683.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.15 683.32 Td (82,711) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.10 683.32 Td (24.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.65 683.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.00 683.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 683.32 Td (93,522) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.10 683.32 Td (30.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.65 683.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 683.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.10 683.32 Td (153,346) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.10 683.32 Td (28.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 683.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 683.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 683.32 Td (158,471) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.10 683.32 Td (31.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.65 683.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 670.32 Td (Private sector) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.15 670.32 Td (41,126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.10 670.32 Td (12.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 670.32 Td (18,649) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.15 670.32 Td (6.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 670.32 Td (75,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.10 670.32 Td (14.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.15 670.32 Td (44,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.10 670.32 Td (9.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 657.32 Td (Northwest:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.00 657.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.00 657.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.00 657.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.00 657.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 644.32 Td (Public sector) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.10 644.32 Td (117,379) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.10 644.32 Td (35.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.10 644.32 Td (121,074) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.10 644.32 Td (39.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.10 644.32 Td (168,846) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.10 644.32 Td (31.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 644.32 Td (158,928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.10 644.32 Td (32.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 631.32 Td (Private sector) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.15 631.32 Td (28,049) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.15 631.32 Td (8.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 631.32 Td (21,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.15 631.32 Td (7.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 631.32 Td (38,392) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.10 631.32 Td (7.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.15 631.32 Td (49,820) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.10 631.32 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 618.32 Td (Heavy Civil) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 114.60 622.85 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.15 618.32 Td (3,879) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.15 618.32 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.15 618.32 Td (8,131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.15 618.32 Td (2.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 618.32 Td (9,795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.10 618.32 Td (1.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.15 618.32 Td (15,089) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.10 618.32 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 605.32 Td (Kenny:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 592.32 Td (Public sector) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.15 592.32 Td (46,029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.10 592.32 Td (13.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 592.32 Td (25,444) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.15 592.32 Td (8.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 592.32 Td (67,157) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.10 592.32 Td (12.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.15 592.32 Td (33,876) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.10 592.32 Td (6.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 579.32 Td (Private sector) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.15 579.32 Td (12,173) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.15 579.32 Td (3.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 579.32 Td (17,424) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.15 579.32 Td (5.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 579.32 Td (27,839) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.10 579.32 Td (5.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.15 579.32 Td (33,057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.10 579.32 Td (6.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 566.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.00 566.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.10 566.32 Td (331,346) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.10 566.32 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.65 566.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.00 566.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.10 566.32 Td (305,605) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.10 566.32 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.65 566.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 566.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.10 566.32 Td (540,833) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.10 566.32 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 566.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 566.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.10 566.32 Td (494,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.10 566.32 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.65 566.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 63.00 550.53 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.92 546.45 Td (For the periods presented, this Construction revenue was earned from the public sector) Tj ET Q q 0 0 0 rg BT 377.59 546.45 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 528.45 Td (Construction revenue for the three and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.11 528.45 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.94 528.45 Td ( increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.19 528.45 Td ($25.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.08 528.45 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.91 528.45 Td (8.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.74 528.45 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.68 528.45 Td ($46.7 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 516.45 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.89 516.45 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.72 516.45 Td (9.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.55 516.45 Td (, respectively) Tj ET Q q 0 0 0 rg BT 181.21 516.45 Td (, comparedto the same periodsin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.40 516.45 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.40 516.45 Td (. ) Tj ET Q q 0 0 0 rg BT 343.21 516.45 Td (The increases were primarily due to new work in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 504.45 Td (private sector of the California operating group and the public sector of the Kenny operating group as well as in the Northwest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 492.45 Td (public sector during the six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.69 492.45 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.52 492.45 Td (. ) Tj ET Q q 0 0 0 rg BT 293.34 492.45 Td (The increases were partially of) Tj ET Q q 0 0 0 rg BT 416.43 492.45 Td (fset by a slower start during 2016 in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 480.45 Td (the California public sector during the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.77 480.45 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.60 480.45 Td ( and Northwest private sector during the six months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 468.45 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.38 468.45 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.21 468.45 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 450.45 Td (Large Pr) Tj ET Q q 0 0 0 rg BT 101.41 450.45 Td (oject Construction Revenue) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 413.95 120.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 183.50 413.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.50 413.95 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 413.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 413.95 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 413.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 413.95 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 413.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 413.95 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 413.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 413.95 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 413.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 413.95 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 413.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 413.95 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.50 413.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.50 413.95 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 387.95 120.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 183.50 387.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.50 387.95 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 387.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 387.95 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 387.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 387.95 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 387.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 387.95 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 387.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 387.95 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 387.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 387.95 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 387.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 387.95 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.50 387.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.50 387.95 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 361.95 120.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 183.50 361.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.50 361.95 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 361.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 361.95 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 361.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 361.95 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 361.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 361.95 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 361.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 361.95 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 361.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 361.95 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 361.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 361.95 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.50 361.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.50 361.95 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 335.95 120.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 183.50 335.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.50 335.95 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 335.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 335.95 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 335.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 335.95 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 335.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 335.95 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 335.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 335.95 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 335.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 335.95 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 335.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 335.95 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.50 335.95 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.50 335.95 40.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 439.95 m 183.5 439.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 439.95 m 187.5 439.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 439.95 m 236.5 439.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 426.95 m 236.5 426.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 439.95 m 240.5 439.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 426.95 m 240.5 426.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 439.95 m 280.5 439.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 426.95 m 280.5 426.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 439.95 m 284.5 439.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 426.95 m 284.5 426.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 439.95 m 333.5 439.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 426.95 m 333.5 426.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333.5 439.95 m 337.5 439.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333.5 426.95 m 337.5 426.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 439.95 m 377.5 439.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 426.95 m 377.5 426.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 439.95 m 381.5 439.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 426.95 m 381.5 426.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 439.95 m 430.5 439.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 426.95 m 430.5 426.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 439.95 m 434.5 439.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 426.95 m 434.5 426.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 439.95 m 474.5 439.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 426.95 m 474.5 426.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 439.95 m 478.5 439.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 426.95 m 478.5 426.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 439.95 m 527.5 439.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 426.95 m 527.5 426.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 439.95 m 531.5 439.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 426.95 m 531.5 426.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 439.95 m 571.5 439.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 426.95 m 571.5 426.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 413.95 m 183.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 413.95 m 187.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 413.95 m 236.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 413.95 m 240.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 413.95 m 280.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 413.95 m 284.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 413.95 m 333.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333.5 413.95 m 337.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 413.95 m 377.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 413.95 m 381.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 413.95 m 430.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 413.95 m 434.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 413.95 m 474.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 413.95 m 478.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 413.95 m 527.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 413.95 m 531.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 413.95 m 571.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 413.95 m 236.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 413.95 m 280.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 413.95 m 333.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 413.95 m 377.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 413.95 m 430.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 413.95 m 527.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 413.95 m 571.5 413.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 335.95 m 183.5 335.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 335.95 m 187.5 335.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 335.95 m 236.5 335.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 335.95 m 240.5 335.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 335.95 m 280.5 335.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 335.95 m 284.5 335.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 335.95 m 333.5 335.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333.5 335.95 m 337.5 335.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 335.95 m 377.5 335.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 335.95 m 381.5 335.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 335.95 m 430.5 335.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 335.95 m 434.5 335.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 335.95 m 474.5 335.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 335.95 m 478.5 335.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 335.95 m 527.5 335.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 335.95 m 531.5 335.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 335.95 m 571.5 335.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 323.95 m 183.5 323.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 321.95 m 183.5 321.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 323.95 m 187.5 323.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 321.95 m 187.5 321.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 323.95 m 236.5 323.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 321.95 m 236.5 321.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 323.95 m 240.5 323.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 321.95 m 240.5 321.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 323.95 m 280.5 323.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 321.95 m 280.5 321.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 323.95 m 284.5 323.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 321.95 m 284.5 321.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 323.95 m 333.5 323.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 321.95 m 333.5 321.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333.5 323.95 m 337.5 323.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333.5 321.95 m 337.5 321.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 323.95 m 377.5 323.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 321.95 m 377.5 321.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 323.95 m 381.5 323.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 321.95 m 381.5 321.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 323.95 m 430.5 323.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 321.95 m 430.5 321.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 323.95 m 434.5 323.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 321.95 m 434.5 321.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 323.95 m 474.5 323.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 321.95 m 474.5 321.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 323.95 m 478.5 323.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 321.95 m 478.5 321.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 323.95 m 527.5 323.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 321.95 m 527.5 321.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 323.95 m 531.5 323.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 321.95 m 531.5 321.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 323.95 m 571.5 323.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 321.95 m 571.5 321.95 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.45 430.68 Td (Thr) Tj ET Q q 0 0 0 rg BT 233.94 430.68 Td (ee Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.50 430.68 Td (Six Months Ended June 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 417.51 Td (\(dollars in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.50 417.68 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.50 417.68 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.50 417.68 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.50 417.68 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 404.52 Td (Heavy Civil) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 114.60 409.05 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.00 404.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.10 404.52 Td (149,732) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.10 404.52 Td (75.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.65 404.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.00 404.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.10 404.52 Td (139,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.10 404.52 Td (76.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.65 404.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 404.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.10 404.52 Td (307,032) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 404.52 Td (78.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 404.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.00 404.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.10 404.52 Td (280,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.10 404.52 Td (75.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.65 404.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 391.52 Td (Northwest) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 107.66 396.05 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.15 391.52 Td (7,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 391.52 Td (3.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 391.52 Td (14,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 391.52 Td (8.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 391.52 Td (13,137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 391.52 Td (3.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 391.52 Td (24,311) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.15 391.52 Td (6.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 378.52 Td (California) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 106.54 383.05 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.15 378.52 Td (7,642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 378.52 Td (3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 378.52 Td (5,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 378.52 Td (3.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 378.52 Td (14,956) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 378.52 Td (3.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 378.52 Td (10,942) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.15 378.52 Td (2.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 365.52 Td (Kenny) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 352.52 Td (Public sector) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.15 352.52 Td (27,756) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.10 352.52 Td (14.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 352.52 Td (16,920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 352.52 Td (9.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 352.52 Td (47,307) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 352.52 Td (12.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 352.52 Td (39,731) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.10 352.52 Td (10.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 339.52 Td (Private sector) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.15 339.52 Td (5,168) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 339.52 Td (2.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 339.52 Td (5,675) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 339.52 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 339.52 Td (10,339) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 339.52 Td (2.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 339.52 Td (17,814) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.15 339.52 Td (4.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 326.52 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.00 326.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.10 326.52 Td (197,322) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.10 326.52 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.65 326.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.00 326.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.10 326.52 Td (182,893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.10 326.52 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.65 326.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 326.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.10 326.52 Td (392,771) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.10 326.52 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 326.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.00 326.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.10 326.52 Td (373,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.10 326.52 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.65 326.52 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 63.00 310.73 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.92 306.65 Td (For the periods presented, this Lar) Tj ET Q q 0 0 0 rg BT 189.23 306.65 Td (ge Project Construction revenue was earned from the public sector) Tj ET Q q 0 0 0 rg BT 428.40 306.65 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 288.65 Td (Lar) Tj ET Q q 0 0 0 rg BT 76.70 288.65 Td (ge Project Construction revenue for the three and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.57 288.65 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.40 288.65 Td ( increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 288.65 Td ($14.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.54 288.65 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.37 288.65 Td (7.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.20 288.65 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 276.65 Td ($19.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.89 276.65 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.72 276.65 Td (5.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.55 276.65 Td (, respectively) Tj ET Q q 0 0 0 rg BT 206.21 276.65 Td (, comparedto the same periodsin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.40 276.65 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.40 276.65 Td (. ) Tj ET Q q 0 0 0 rg BT 368.21 276.65 Td (The increases were primarily due to progress on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 264.65 Td (new projects in the Heavy Civil operating group and Kenny public sector partially of) Tj ET Q q 0 0 0 rg BT 402.45 264.65 Td (fset by decreases in the Northwest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 252.65 Td (operating group from the completion of projects in late 2015 while new awards were in their early stages.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 231.65 Td (Construction Materials Revenue) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 195.15 120.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 183.50 195.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.50 195.15 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 195.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 195.15 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 195.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 195.15 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 195.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 195.15 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 195.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 195.15 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 195.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 195.15 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 195.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 195.15 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.50 195.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.50 195.15 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 169.15 120.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 183.50 169.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.50 169.15 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.50 169.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 169.15 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 169.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 169.15 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 169.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.50 169.15 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 169.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.50 169.15 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.50 169.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 169.15 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 169.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 169.15 49.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.50 169.15 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.50 169.15 40.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 221.14999999999998 m 183.5 221.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 221.14999999999998 m 187.5 221.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 221.14999999999998 m 236.5 221.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 208.14999999999998 m 236.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 221.14999999999998 m 240.5 221.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 208.14999999999998 m 240.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 221.14999999999998 m 280.5 221.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 208.14999999999998 m 280.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 221.14999999999998 m 284.5 221.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 208.14999999999998 m 284.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 221.14999999999998 m 333.5 221.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 208.14999999999998 m 333.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333.5 221.14999999999998 m 337.5 221.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333.5 208.14999999999998 m 337.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 221.14999999999998 m 377.5 221.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 208.14999999999998 m 377.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 221.14999999999998 m 381.5 221.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 208.14999999999998 m 381.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 221.14999999999998 m 430.5 221.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 208.14999999999998 m 430.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 221.14999999999998 m 434.5 221.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 208.14999999999998 m 434.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 221.14999999999998 m 474.5 221.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 208.14999999999998 m 474.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 221.14999999999998 m 478.5 221.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 208.14999999999998 m 478.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 221.14999999999998 m 527.5 221.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 208.14999999999998 m 527.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 221.14999999999998 m 531.5 221.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 208.14999999999998 m 531.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 221.14999999999998 m 571.5 221.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 208.14999999999998 m 571.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 195.14999999999998 m 183.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 195.14999999999998 m 187.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 195.14999999999998 m 236.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 195.14999999999998 m 240.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 195.14999999999998 m 280.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 195.14999999999998 m 284.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 208.14999999999998 m 333.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 195.14999999999998 m 333.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333.5 195.14999999999998 m 337.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 195.14999999999998 m 377.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 195.14999999999998 m 381.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 195.14999999999998 m 430.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 195.14999999999998 m 434.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 195.14999999999998 m 474.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 195.14999999999998 m 478.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 208.14999999999998 m 527.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 195.14999999999998 m 527.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 208.14999999999998 m 531.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 195.14999999999998 m 531.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 208.14999999999998 m 571.5 208.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 195.14999999999998 m 571.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 195.14999999999998 m 236.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 195.14999999999998 m 280.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 195.14999999999998 m 333.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 195.14999999999998 m 377.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 195.14999999999998 m 430.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 195.14999999999998 m 474.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 195.14999999999998 m 527.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 195.14999999999998 m 571.5 195.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 169.14999999999998 m 236.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 169.14999999999998 m 333.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 169.14999999999998 m 430.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 169.14999999999998 m 527.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 169.14999999999998 m 183.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 157.14999999999998 m 183.5 157.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 155.14999999999998 m 183.5 155.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 169.14999999999998 m 187.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 157.14999999999998 m 187.5 157.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 183.5 155.14999999999998 m 187.5 155.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 169.14999999999998 m 236.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 157.14999999999998 m 236.5 157.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187.5 155.14999999999998 m 236.5 155.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 169.14999999999998 m 240.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 157.14999999999998 m 240.5 157.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236.5 155.14999999999998 m 240.5 155.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 169.14999999999998 m 280.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 157.14999999999998 m 280.5 157.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 155.14999999999998 m 280.5 155.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 169.14999999999998 m 284.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 157.14999999999998 m 284.5 157.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 155.14999999999998 m 284.5 155.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 169.14999999999998 m 333.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 157.14999999999998 m 333.5 157.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284.5 155.14999999999998 m 333.5 155.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333.5 169.14999999999998 m 337.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333.5 157.14999999999998 m 337.5 157.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333.5 155.14999999999998 m 337.5 155.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 169.14999999999998 m 377.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 157.14999999999998 m 377.5 157.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 155.14999999999998 m 377.5 155.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 169.14999999999998 m 381.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 157.14999999999998 m 381.5 157.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 155.14999999999998 m 381.5 155.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 169.14999999999998 m 430.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 157.14999999999998 m 430.5 157.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381.5 155.14999999999998 m 430.5 155.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 169.14999999999998 m 434.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 157.14999999999998 m 434.5 157.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430.5 155.14999999999998 m 434.5 155.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 169.14999999999998 m 474.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 157.14999999999998 m 474.5 157.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 155.14999999999998 m 474.5 155.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 169.14999999999998 m 478.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 157.14999999999998 m 478.5 157.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 155.14999999999998 m 478.5 155.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 169.14999999999998 m 527.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 157.14999999999998 m 527.5 157.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 155.14999999999998 m 527.5 155.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 169.14999999999998 m 531.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 157.14999999999998 m 531.5 157.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 155.14999999999998 m 531.5 155.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 169.14999999999998 m 571.5 169.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 157.14999999999998 m 571.5 157.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 155.14999999999998 m 571.5 155.14999999999998 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.45 211.88 Td (Thr) Tj ET Q q 0 0 0 rg BT 233.94 211.88 Td (ee Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.50 211.88 Td (Six Months Ended June 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 198.71 Td (\(dollars in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.50 198.88 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.50 198.88 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.50 198.88 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.50 198.88 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 185.72 Td (California) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.00 185.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.15 185.72 Td (42,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.10 185.72 Td (55.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.65 185.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.00 185.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 185.72 Td (48,086) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.10 185.72 Td (59.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.65 185.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 185.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 185.72 Td (66,390) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 185.72 Td (60.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 185.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.00 185.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 185.72 Td (77,208) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.10 185.72 Td (63.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.65 185.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 172.72 Td (Northwest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.15 172.72 Td (33,543) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.10 172.72 Td (44.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 172.72 Td (32,658) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.10 172.72 Td (40.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.15 172.72 Td (44,037) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.10 172.72 Td (39.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.15 172.72 Td (44,960) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.10 172.72 Td (36.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 159.72 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.00 159.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.15 159.72 Td (75,911) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.10 159.72 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.65 159.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.00 159.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.15 159.72 Td (80,744) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.10 159.72 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.65 159.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.00 159.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.10 159.72 Td (110,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.10 159.72 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 159.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.00 159.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.10 159.72 Td (122,168) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.10 159.72 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.65 159.72 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 138.65 Td (Construction Materials revenue for the three and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.88 138.65 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.54 138.65 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.37 138.65 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.20 138.65 Td ( decreased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.11 138.65 Td ($4.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.01 138.65 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.84 138.65 Td (6.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.67 138.65 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 126.65 Td ($1) Tj ET Q q 0 0 0 rg BT 72.63 126.65 Td (1.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.52 126.65 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.35 126.65 Td (9.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.18 126.65 Td (, respectively) Tj ET Q q 0 0 0 rg BT 205.84 126.65 Td (, comparedto the same periodsin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.02 126.65 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.02 126.65 Td ( primarily due to a slower start in California ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 114.65 Td (coupled with a shift in materials sales from external customers to use in internal Construction segment projects.) Tj ET Q endstream endobj 49 0 obj <>] /Rotate 0 /Contents 50 0 R>> endobj 50 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (24) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 742.25 Td (Contract Backlog) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 724.25 Td (Our contract backlog consists of the unearned revenue on awarded contracts, including 100% of our consolidated joint ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 712.25 Td (venture contractsand our proportionate share of unconsolidated joint venture contracts. ) Tj ET Q q 0 0 0 rg BT 414.92 712.25 Td (W) Tj ET Q q 0 0 0 rg BT 423.56 712.25 Td (e generally include a project in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 700.25 Td (our contract backlog at the time it is awarded and to the extent we believe funding is probable. Certain federal and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 688.25 Td (municipal government contracts where funding is appropriated on a periodic basis are included in contract backlog at the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 676.25 Td (time of the award when it is probable the contract value will be funded and executed. Existing contracts that include ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 664.25 Td (unexercised contract options and unissued task orders are included in contract backlog to the extent their issuance is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 652.25 Td (probable or options are exercised. Substantially all of the contracts in our contract backlog may be canceled or modified at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 640.25 Td (the election of the customer; however) Tj ET Q q 0 0 0 rg BT 213.38 640.25 Td (, we have not been materially adversely af) Tj ET Q q 0 0 0 rg BT 382.01 640.25 Td (fected by contract cancellations or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 628.25 Td (modifications in the past.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 610.25 Td (T) Tj ET Q q 0 0 0 rg BT 68.75 610.25 Td (otal ) Tj ET Q q 0 0 0 rg BT 87.36 610.25 Td (Contract ) Tj ET Q q 0 0 0 rg BT 128.18 610.25 Td (Backlog ) Tj ET Q q 0 0 0 rg BT 165.13 610.25 Td (by ) Tj ET Q q 0 0 0 rg BT 178.19 610.25 Td (Segment) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 586.75 141.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 204.50 586.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.50 586.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 586.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 586.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 586.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 586.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 586.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 586.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 586.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 586.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 586.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 586.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 560.75 141.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 204.50 560.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 208.50 560.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 560.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 560.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 560.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 560.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 560.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 560.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 560.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 560.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 560.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 560.75 45.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 599.75 m 204.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 586.75 m 204.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 204.5 599.75 m 208.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 204.5 586.75 m 208.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 208.5 599.75 m 275.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 208.5 586.75 m 275.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 599.75 m 279.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 586.75 m 279.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 599.75 m 324.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 586.75 m 324.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 599.75 m 328.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 586.75 m 328.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 599.75 m 394.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 586.75 m 394.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 599.75 m 398.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 586.75 m 398.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 599.75 m 443.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 586.75 m 443.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 599.75 m 447.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 586.75 m 447.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 599.75 m 513.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 586.75 m 513.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 599.75 m 517.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 586.75 m 517.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 599.75 m 562.5 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 586.75 m 562.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 208.5 586.75 m 275.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 586.75 m 324.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 586.75 m 394.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 586.75 m 513.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 560.75 m 204.5 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 204.5 560.75 m 208.5 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 208.5 560.75 m 275.5 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 560.75 m 279.5 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 560.75 m 324.5 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 560.75 m 328.5 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 560.75 m 394.5 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 560.75 m 398.5 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 560.75 m 443.5 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 560.75 m 447.5 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 560.75 m 513.5 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 560.75 m 517.5 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 560.75 m 562.5 560.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 548.75 m 204.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 546.75 m 204.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 204.5 548.75 m 208.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 204.5 546.75 m 208.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 208.5 548.75 m 275.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 208.5 546.75 m 275.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 548.75 m 279.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 546.75 m 279.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 548.75 m 324.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 546.75 m 324.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 548.75 m 328.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 546.75 m 328.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 548.75 m 394.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 546.75 m 394.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 548.75 m 398.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 546.75 m 398.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 548.75 m 443.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 546.75 m 443.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 548.75 m 447.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 546.75 m 447.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 548.75 m 513.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 546.75 m 513.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 548.75 m 517.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 546.75 m 517.5 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 548.75 m 562.5 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 546.75 m 562.5 546.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 590.31 Td (\(dollars in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.95 590.48 Td (June 30, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.40 590.48 Td (March 31, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.45 590.48 Td (June 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 577.32 Td (Construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.00 577.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 577.32 Td (1,144,965) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.15 577.32 Td (30.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.65 577.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.00 577.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 577.32 Td (999,980) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 577.32 Td (29.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 577.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 577.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 577.32 Td (831,067) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 577.32 Td (27.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 577.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 564.32 Td (Large Project Construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 564.32 Td (2,606,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.15 564.32 Td (69.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 564.32 Td (2,386,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 564.32 Td (70.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 564.32 Td (2,169,736) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 564.32 Td (72.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 551.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.00 551.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 551.32 Td (3,750,984) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.10 551.32 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.65 551.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.00 551.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 551.32 Td (3,385,999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.10 551.32 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 551.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 551.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 551.32 Td (3,000,803) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.10 551.32 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 551.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 527.25 Td (Construction ) Tj ET Q q 0 0 0 rg BT 121.61 527.25 Td (Contract ) Tj ET Q q 0 0 0 rg BT 162.43 527.25 Td (Backlog) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 503.75 142.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 503.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 503.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 503.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 503.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 503.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 503.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 503.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 503.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 503.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 503.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 503.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 503.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 477.75 142.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 477.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 477.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 477.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 477.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 477.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 477.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 477.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 477.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 477.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 477.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 477.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 477.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 451.75 142.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 451.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 451.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 451.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 451.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 451.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 451.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 451.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 451.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 451.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 451.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 451.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 451.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 425.75 142.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 425.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 425.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 425.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 425.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 425.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 425.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 425.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 425.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 425.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 425.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 425.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 425.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 399.75 142.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 399.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 399.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 399.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 399.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 399.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 399.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 399.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 399.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 399.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 399.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 399.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 399.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 373.75 142.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 205.50 373.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 373.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 373.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.50 373.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 373.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 373.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 373.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 373.75 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 373.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 373.75 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 373.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.50 373.75 45.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 516.75 m 205.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 503.75 m 205.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 516.75 m 209.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 503.75 m 209.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 516.75 m 275.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 503.75 m 275.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 516.75 m 279.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 503.75 m 279.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 516.75 m 324.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 503.75 m 324.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 516.75 m 328.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 503.75 m 328.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 516.75 m 394.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 503.75 m 394.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 516.75 m 398.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 503.75 m 398.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 516.75 m 443.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 503.75 m 443.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 516.75 m 447.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 503.75 m 447.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 516.75 m 513.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 503.75 m 513.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 516.75 m 517.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 503.75 m 517.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 516.75 m 562.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 503.75 m 562.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 373.75 m 205.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 373.75 m 209.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 373.75 m 275.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 373.75 m 279.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 373.75 m 324.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 373.75 m 328.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 373.75 m 394.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 373.75 m 398.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 373.75 m 443.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 373.75 m 447.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 373.75 m 513.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 373.75 m 517.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 373.75 m 562.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 361.75 m 205.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 359.75 m 205.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 361.75 m 209.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205.5 359.75 m 209.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 361.75 m 275.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 209.5 359.75 m 275.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 361.75 m 279.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 359.75 m 279.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 361.75 m 324.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 359.75 m 324.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 361.75 m 328.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 359.75 m 328.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 361.75 m 394.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 359.75 m 394.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 361.75 m 398.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 359.75 m 398.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 361.75 m 443.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 359.75 m 443.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 361.75 m 447.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 359.75 m 447.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 361.75 m 513.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 359.75 m 513.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 361.75 m 517.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 359.75 m 517.5 359.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 361.75 m 562.5 361.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 359.75 m 562.5 359.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 507.31 Td (\(dollars in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 237.45 507.48 Td (June 30, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.40 507.48 Td (March 31, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.45 507.48 Td (June 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 494.32 Td (California:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.00 494.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.00 494.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.00 494.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 494.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 494.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 494.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 481.32 Td (Public sector) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.00 481.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.15 481.32 Td (291,704) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.15 481.32 Td (25.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.65 481.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.00 481.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 481.32 Td (281,085) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 481.32 Td (28.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 481.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 481.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 481.32 Td (330,071) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 481.32 Td (39.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 481.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 468.32 Td (Private sector) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.15 468.32 Td (54,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.15 468.32 Td (4.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 468.32 Td (48,911) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.15 468.32 Td (4.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 468.32 Td (51,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 468.32 Td (6.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 455.32 Td (Northwest:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.00 455.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 455.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 455.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 442.32 Td (Public sector) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.15 442.32 Td (340,673) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.15 442.32 Td (29.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 442.32 Td (307,077) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 442.32 Td (30.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 442.32 Td (252,816) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 442.32 Td (30.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 429.32 Td (Private sector) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.15 429.32 Td (31,476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.15 429.32 Td (2.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 429.32 Td (40,874) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.15 429.32 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 429.32 Td (25,928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 429.32 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 416.32 Td (Heavy Civil) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 114.60 420.85 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.15 416.32 Td (97,390) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.15 416.32 Td (8.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 416.32 Td (79,209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.15 416.32 Td (7.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 416.32 Td (24,815) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 416.32 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 403.32 Td (Kenny:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 390.32 Td (Public sector) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.15 390.32 Td (300,076) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.15 390.32 Td (26.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 390.32 Td (203,996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 390.32 Td (20.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 390.32 Td (75,778) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 390.32 Td (9.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 377.32 Td (Private sector) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.15 377.32 Td (28,885) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.15 377.32 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 377.32 Td (38,828) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.15 377.32 Td (3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 377.32 Td (70,401) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 377.32 Td (8.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 364.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.00 364.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.65 364.32 Td (1,144,965) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.10 364.32 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.65 364.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.00 364.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.15 364.32 Td (999,980) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.10 364.32 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 364.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 364.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 364.32 Td (831,067) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.10 364.32 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 364.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 63.00 348.53 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.92 344.45 Td (For the periods presented, this Construction contract backlog is related to contracts with public agencies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 326.45 Td (Construction contract backlog of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.85 326.45 Td ($1.1 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.97 326.45 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.18 326.45 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.01 326.45 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.56 326.45 Td ($145.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.46 326.45 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.29 326.45 Td (14.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.12 326.45 Td (, higher than at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.60 326.45 Td (March31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.20 326.45 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 314.45 Td (due to an improved success rate of bidding activity in the public sector of the Kenny) Tj ET Q q 0 0 0 rg BT 399.76 314.45 Td (, California and Northwest operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 302.45 Td (groups and the Heavy Civil operating group. Increases from improved success rate of bidding activity was partially of) Tj ET Q q 0 0 0 rg BT 534.91 302.45 Td (fset by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 290.45 Td (completion of existing projects in the private sector of the Kenny and Northwest operating groups without the of) Tj ET Q q 0 0 0 rg BT 512.99 290.45 Td (fset of new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 278.45 Td (awards. Significant new awards during the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.82 278.45 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.65 278.45 Td (, included a $20.0 million airport project in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 266.45 Td (Alaska and a $1) Tj ET Q q 0 0 0 rg BT 126.77 266.45 Td (18.6 million sewer lining project in Illinois.) 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s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 718.75 m 396.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 731.75 m 400.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 718.75 m 400.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 731.75 m 444.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 718.75 m 444.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 731.75 m 448.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 718.75 m 448.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 731.75 m 513.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 718.75 m 513.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 731.75 m 517.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 718.75 m 517.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 731.75 m 561.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 718.75 m 561.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 718.75 m 279.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 718.75 m 327.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 718.75 m 396.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 718.75 m 513.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 640.75 m 279.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 640.75 m 396.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 640.75 m 513.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 640.75 m 210.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 628.75 m 210.5 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 626.75 m 210.5 626.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 640.75 m 214.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 628.75 m 214.5 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210.5 626.75 m 214.5 626.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 640.75 m 279.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 628.75 m 279.5 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 626.75 m 279.5 626.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 640.75 m 283.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 628.75 m 283.5 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279.5 626.75 m 283.5 626.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 640.75 m 327.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 628.75 m 327.5 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 626.75 m 327.5 626.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 640.75 m 331.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 628.75 m 331.5 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327.5 626.75 m 331.5 626.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 640.75 m 396.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 628.75 m 396.5 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 331.5 626.75 m 396.5 626.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 640.75 m 400.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 628.75 m 400.5 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 626.75 m 400.5 626.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 640.75 m 444.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 628.75 m 444.5 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.5 626.75 m 444.5 626.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 640.75 m 448.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 628.75 m 448.5 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444.5 626.75 m 448.5 626.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 640.75 m 513.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 628.75 m 513.5 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 626.75 m 513.5 626.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 640.75 m 517.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 628.75 m 517.5 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 626.75 m 517.5 626.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 640.75 m 561.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 628.75 m 561.5 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517.5 626.75 m 561.5 626.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 722.31 Td (\(dollars in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.45 722.48 Td (June 30, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.40 722.48 Td (March 31, 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.45 722.48 Td (June 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 709.32 Td (Heavy Civil) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 114.60 713.85 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 709.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.65 709.32 Td (1,783,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 709.32 Td (68.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 709.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.00 709.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 709.32 Td (1,911,056) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.15 709.32 Td (80.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 709.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 709.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 709.32 Td (1,860,233) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 709.32 Td (85.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 709.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 696.32 Td (Northwest) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 107.66 700.85 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.15 696.32 Td (110,556) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.15 696.32 Td (4.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.15 696.32 Td (117,634) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 696.32 Td (4.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 696.32 Td (86,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 696.32 Td (4.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 683.32 Td (California) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 106.54 687.85 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.15 683.32 Td (136,316) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.15 683.32 Td (5.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.15 683.32 Td (17,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 683.32 Td (0.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 683.32 Td (11,416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 683.32 Td (0.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 670.32 Td (Kenny:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 657.32 Td (Public sector) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 135.93 661.85 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.15 657.32 Td (487,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 657.32 Td (18.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.15 657.32 Td (246,807) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.15 657.32 Td (10.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 657.32 Td (118,537) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 657.32 Td (5.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 644.32 Td (Private sector) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.15 644.32 Td (87,940) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.15 644.32 Td (3.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.15 644.32 Td (93,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 644.32 Td (3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 644.32 Td (92,579) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 644.32 Td (4.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 631.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 631.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.65 631.32 Td (2,606,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.10 631.32 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 631.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.00 631.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 631.32 Td (2,386,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.10 631.32 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 631.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 631.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 631.32 Td (2,169,736) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.10 631.32 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 631.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 63.00 615.53 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.92 611.45 Td (For the periods presented, this Lar) Tj ET Q q 0 0 0 rg BT 189.23 611.45 Td (ge Project Construction contract backlog is related to contracts with public agencies. ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 63.00 604.73 Td (2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.92 600.65 Td (As of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 87.92 600.65 Td (June30, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 138.17 600.65 Td (, ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 142.67 600.65 Td (March31, 2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 199.91 600.65 Td ( and ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 217.40 600.65 Td (June30, 2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 267.65 600.65 Td (, ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 272.15 600.65 Td ($3.5 million) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 316.15 600.65 Td (, ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 320.65 600.65 Td ($9.2 million) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 364.66 600.65 Td ( and ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.15 600.65 Td ($22.5 million) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.65 600.65 Td (, respectively) Tj ET Q q 0 0 0 rg BT 478.05 600.65 Td (, of the Kenny public ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.00 589.85 Td (sector contract backlog was translated from Canadian dollars to U.S. dollars at the spot rate in ef) Tj ET Q q 0 0 0 rg BT 410.23 589.85 Td (fect at the date of reporting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 571.85 Td (Lar) Tj ET Q q 0 0 0 rg BT 76.70 571.85 Td (ge Project Construction contract backlog of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.31 571.85 Td ($2.6 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.43 571.85 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.59 571.85 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.42 571.85 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.97 571.85 Td ($220.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.86 571.85 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.69 571.85 Td (9.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.52 571.85 Td (, higher than at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 559.85 Td (March31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.60 559.85 Td (, due to new awards partially of) Tj ET Q q 0 0 0 rg BT 252.77 559.85 Td (fset by progress on existing projects. New awards during the three months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 547.85 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.38 547.85 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.21 547.85 Td ( included a $125.0 million highway project in California and a $279.4 million tunnel project in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 535.85 Td (Connecticut.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 517.85 Td (Non-controlling partners) Tj ET Q q 0 0 0 rg BT 164.73 517.85 Td ( share of Lar) Tj ET Q q 0 0 0 rg BT 215.35 517.85 Td (ge Project Construction contract backlog asof) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.80 517.85 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.63 517.85 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.63 517.85 Td (March31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.23 517.85 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 505.85 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.94 505.85 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.77 505.85 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.32 505.85 Td ($158.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.21 505.85 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.21 505.85 Td ($70.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.10 505.85 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.54 505.85 Td ($17.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.43 505.85 Td (, respectively) Tj ET Q q 0 0 0 rg BT 400.09 505.85 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 487.85 Td (Gross Profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 469.85 Td (Revenue in an amount equal to cost incurred is recognized if there is not suf) Tj ET Q q 0 0 0 rg BT 367.17 469.85 Td (ficient information to determine the estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 457.85 Td (profit on the projectwith a reasonable level of certainty) Tj ET Q q 0 0 0 rg BT 284.76 457.85 Td (. Gross profit can vary significantly in periods where previously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 445.85 Td (deferred profit is recognized on one or moreprojects or) Tj ET Q q 0 0 0 rg BT 284.46 445.85 Td (, conversely) Tj ET Q q 0 0 0 rg BT 332.12 445.85 Td (, if we have outstanding claims that are not probable or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 433.85 Td (estimable.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 415.85 Td (The following table presents gross profit by business segment for the respective periods:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 377.35 209.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 377.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 377.35 71.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 377.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 377.35 69.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 377.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 377.35 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 377.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 377.35 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 351.35 209.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 351.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 351.35 71.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 351.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 351.35 69.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 351.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 351.35 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 351.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 351.35 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 325.35 209.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 325.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 325.35 71.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 325.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 325.35 69.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 325.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 325.35 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 325.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 325.35 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 299.35 209.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 299.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 299.35 71.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 299.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 299.35 69.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 299.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 299.35 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 299.35 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 299.35 67.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 405.35 m 272.5 405.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 405.35 m 276.5 405.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 405.35 m 347.5 405.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 390.35 m 347.5 390.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 405.35 m 351.5 405.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 390.35 m 351.5 390.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 405.35 m 420.5 405.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 390.35 m 420.5 390.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 405.35 m 424.5 405.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 390.35 m 424.5 390.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 405.35 m 491.5 405.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 390.35 m 491.5 390.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 405.35 m 495.5 405.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 390.35 m 495.5 390.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 405.35 m 562.5 405.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 390.35 m 562.5 390.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 377.35 m 272.5 377.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 377.35 m 276.5 377.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 377.35 m 347.5 377.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 377.35 m 351.5 377.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 377.35 m 420.5 377.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 377.35 m 424.5 377.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 377.35 m 491.5 377.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 377.35 m 495.5 377.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 377.35 m 562.5 377.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 377.35 m 347.5 377.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 377.35 m 420.5 377.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 377.35 m 491.5 377.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 377.35 m 562.5 377.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 299.35 m 272.5 299.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 299.35 m 276.5 299.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 299.35 m 347.5 299.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 299.35 m 351.5 299.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 299.35 m 420.5 299.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 299.35 m 424.5 299.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 299.35 m 491.5 299.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 299.35 m 495.5 299.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 299.35 m 562.5 299.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 299.35 m 420.5 299.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 299.35 m 491.5 299.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 299.35 m 562.5 299.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 274.35 m 272.5 274.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 272.35 m 272.5 272.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 274.35 m 276.5 274.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 272.35 m 276.5 272.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 274.35 m 347.5 274.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 272.35 m 347.5 272.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 274.35 m 351.5 274.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 272.35 m 351.5 272.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 274.35 m 420.5 274.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 272.35 m 420.5 272.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 274.35 m 424.5 274.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 272.35 m 424.5 272.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 274.35 m 491.5 274.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 272.35 m 491.5 272.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 274.35 m 495.5 274.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 272.35 m 495.5 272.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 274.35 m 562.5 274.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 272.35 m 562.5 272.35 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 396.08 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.45 395.03 Td (Thr) Tj ET Q q 0 0 0 rg BT 299.94 395.03 Td (ee Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.50 395.03 Td (Six Months Ended June 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 380.91 Td (\(dollars in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.50 381.08 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.50 381.08 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 381.08 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 381.08 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 367.92 Td (Construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 367.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 367.92 Td (49,056) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 367.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 367.92 Td (38,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 367.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 367.92 Td (75,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 367.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 367.92 Td (59,479) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 84.00 354.91 Td (Percent ofsegment revenue) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 321.15 354.91 Td (14.8) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 338.65 354.91 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 394.15 354.91 Td (12.7) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 411.65 354.91 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 465.15 354.91 Td (14.1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 482.65 354.91 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.15 354.91 Td (12.0) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 553.65 354.91 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 341.92 Td (Large Project Construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 341.92 Td (13,654) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 341.92 Td (14,479) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 341.92 Td (27,159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 341.92 Td (32,015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 84.00 328.91 Td (Percent ofsegment revenue) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 326.15 328.91 Td (6.9) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 399.15 328.91 Td (7.9) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 470.15 328.91 Td (6.9) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 541.15 328.91 Td (8.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 315.92 Td (Construction Materials) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 315.92 Td (10,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 315.92 Td (10,837) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 315.92 Td (9,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 315.92 Td (11,635) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 84.00 302.91 Td (Percent of segment revenue) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 321.15 302.91 Td (13.8) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 394.15 302.91 Td (13.4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 470.15 302.91 Td (8.4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 541.15 302.91 Td (9.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 289.92 Td (Total gross profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 289.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.15 289.92 Td (73,201) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.00 289.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 289.92 Td (64,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 289.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 289.92 Td (112,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 289.92 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.15 289.92 Td (103,129) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 90.00 276.91 Td (Percent of total revenue) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 321.15 276.91 Td (12.1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 338.65 276.91 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 394.15 276.91 Td (11.3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 411.65 276.91 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 465.15 276.91 Td (10.8) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 482.65 276.91 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.15 276.91 Td (10.4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 553.65 276.91 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 255.85 Td (Construction gross profit for the three and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.80 255.85 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.47 255.85 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.29 255.85 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.12 255.85 Td ( increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.38 255.85 Td ($10.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.27 255.85 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.10 255.85 Td (26.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.93 255.85 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.87 255.85 Td ($16.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 243.85 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.89 243.85 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.72 243.85 Td (27.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.55 243.85 Td (, respectively) Tj ET Q q 0 0 0 rg BT 186.21 243.85 Td (, comparedto the same periodsin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.40 243.85 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.40 243.85 Td (. Construction gross profit as a percentage of segment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 231.85 Td (revenue for the three and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.45 231.85 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.12 231.85 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.94 231.85 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.77 231.85 Td ( increased to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.80 231.85 Td (14.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.63 231.85 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.07 231.85 Td (12.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.90 231.85 Td ( and to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.62 231.85 Td (14.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.45 231.85 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.89 231.85 Td (12.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.72 231.85 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 219.85 Td (respectively) Tj ET Q q 0 0 0 rg BT 110.66 219.85 Td (, when compared to the same periods in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 219.85 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 219.85 Td (. ) Tj ET Q q 0 0 0 rg BT 296.82 219.85 Td (The increases were primarily due to increased volume and mar) Tj ET Q q 0 0 0 rg BT 547.93 219.85 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 207.85 Td (improvement from increased private sector projects and increased mar) Tj ET Q q 0 0 0 rg BT 344.37 207.85 Td (gin on 2016 beginning backlog compared to 2015. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 195.85 Td (The increases during the six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.01 195.85 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.84 195.85 Td ( were partially of) Tj ET Q q 0 0 0 rg BT 360.24 195.85 Td (fset by decreases from estimated probable cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 183.85 Td (recoveries on claims and net changes from revisions in estimates \(see Note 3 of Notes to the Condensed Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 171.85 Td (Financial Statements\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 153.85 Td (Lar) Tj ET Q q 0 0 0 rg BT 76.70 153.85 Td (ge Project Construction gross profit for the three and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.26 153.85 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.93 153.85 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.75 153.85 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.58 153.85 Td ( decreased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.50 153.85 Td ($0.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.39 153.85 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 141.85 Td (5.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.83 141.85 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.77 141.85 Td ($4.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.66 141.85 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.49 141.85 Td (15.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.32 141.85 Td (, respectively) Tj ET Q q 0 0 0 rg BT 248.98 141.85 Td (, when compared to the same periodsin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.32 141.85 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.32 141.85 Td (. Lar) Tj ET Q q 0 0 0 rg BT 449.02 141.85 Td (ge Project Construction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 129.85 Td (gross profit as a percentage of segment revenue for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.58 129.85 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.56 129.85 Td ( and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 129.85 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.33 129.85 Td ( decreased to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.02 129.85 Td (6.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.85 129.85 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 117.85 Td (7.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.83 117.85 Td ( and to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.55 117.85 Td (6.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.38 117.85 Td ( from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.82 117.85 Td (8.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.65 117.85 Td (, respectively) Tj ET Q q 0 0 0 rg BT 232.31 117.85 Td (, when compared to the same periods in 2015. ) Tj ET Q q 0 0 0 rg BT 418.47 117.85 Td (The decreases were primarily due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 105.85 Td (to net changes from revisions in estimates \(see Note 3 of Notes to the Condensed Consolidated Financial Statements\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 87.85 Td (Construction Materials gross profit for the three and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.06 87.85 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.73 87.85 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.55 87.85 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.38 87.85 Td ( decreased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 87.85 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.19 87.85 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.02 87.85 Td (3.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.85 87.85 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 75.85 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.94 75.85 Td ($2.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.83 75.85 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.66 75.85 Td (20.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.49 75.85 Td (, respectively) Tj ET Q q 0 0 0 rg BT 223.15 75.85 Td (, when compared to same periods in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.78 75.85 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.78 75.85 Td (. ) Tj ET Q q 0 0 0 rg BT 394.60 75.85 Td (The decrease was primarily due to lower ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 63.85 Td (volumes. ) Tj ET Q endstream endobj 53 0 obj <>] /Rotate 0 /Contents 54 0 R>> endobj 54 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (26) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 742.25 Td (Selling, General and ) Tj ET Q q 0 0 0 rg BT 150.42 742.25 Td (Administrative Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 724.25 Td (The following table presents the components of selling, general and administrative expenses for the respective periods:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 685.75 209.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 685.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 685.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 685.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 685.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 685.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 685.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 685.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 685.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 659.75 209.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 659.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 659.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 659.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 659.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 659.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 659.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 659.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 659.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 633.75 209.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 633.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 633.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 633.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 633.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 633.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 633.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 633.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 633.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 607.75 209.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 607.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 607.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 607.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 607.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 607.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 607.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 607.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 607.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 581.75 209.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 581.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 581.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 581.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 581.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 581.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 581.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 581.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 581.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 555.75 209.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 555.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.50 555.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 555.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 555.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 555.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 555.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 555.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 555.75 67.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 713.75 m 272.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 713.75 m 276.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 698.75 m 276.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 713.75 m 346.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 698.75 m 346.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 713.75 m 350.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 698.75 m 350.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 713.75 m 420.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 698.75 m 420.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 713.75 m 424.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 698.75 m 424.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 713.75 m 491.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 698.75 m 491.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 713.75 m 495.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 698.75 m 495.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 713.75 m 562.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 698.75 m 562.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 685.75 m 272.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 685.75 m 276.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 685.75 m 346.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 685.75 m 350.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 685.75 m 420.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 685.75 m 424.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 685.75 m 491.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 685.75 m 495.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 685.75 m 562.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 646.75 m 272.5 646.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 646.75 m 276.5 646.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 646.75 m 346.5 646.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 646.75 m 350.5 646.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 646.75 m 420.5 646.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 646.75 m 424.5 646.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 646.75 m 491.5 646.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 646.75 m 495.5 646.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 646.75 m 562.5 646.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 633.75 m 272.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 633.75 m 276.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 646.75 m 346.5 646.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 633.75 m 346.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 633.75 m 350.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 633.75 m 420.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 633.75 m 424.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 633.75 m 491.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 633.75 m 495.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 633.75 m 562.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 581.75 m 272.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 581.75 m 276.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 581.75 m 346.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 581.75 m 350.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 581.75 m 420.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 581.75 m 424.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 581.75 m 491.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 581.75 m 495.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 581.75 m 562.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 568.75 m 272.5 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 568.75 m 276.5 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 581.75 m 346.5 581.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 568.75 m 346.5 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 568.75 m 350.5 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 568.75 m 420.5 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 568.75 m 424.5 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 568.75 m 491.5 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 568.75 m 495.5 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 568.75 m 562.5 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 568.75 m 420.5 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 568.75 m 491.5 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 568.75 m 562.5 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 543.75 m 272.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 541.75 m 272.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 543.75 m 276.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 541.75 m 276.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 543.75 m 346.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276.5 541.75 m 346.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 543.75 m 350.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346.5 541.75 m 350.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 543.75 m 420.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350.5 541.75 m 420.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 543.75 m 424.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 541.75 m 424.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 543.75 m 491.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 541.75 m 491.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 543.75 m 495.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 541.75 m 495.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 543.75 m 562.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 541.75 m 562.5 541.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 704.48 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.45 703.43 Td (Thr) Tj ET Q q 0 0 0 rg BT 299.94 703.43 Td (ee Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.50 703.43 Td (Six Months Ended June 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 689.31 Td (\(dollars in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 689.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.00 689.48 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 689.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 689.48 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 676.32 Td (Selling) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.00 676.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.00 676.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 676.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 676.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 663.32 Td (Salaries and related expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 663.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 663.32 Td (11,341) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 663.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 663.32 Td (10,621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 663.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 663.32 Td (24,209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 663.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 663.32 Td (22,697) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 650.32 Td (Other selling expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.15 650.32 Td (2,438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 650.32 Td (2,505) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 650.32 Td (4,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 650.32 Td (4,584) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 637.32 Td (Totalselling) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 637.32 Td (13,779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 637.32 Td (13,126) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 637.32 Td (28,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 637.32 Td (27,281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 624.32 Td (General and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.00 624.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.00 624.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.00 624.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 624.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 611.32 Td (Salaries and related expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 611.32 Td (16,992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 611.32 Td (16,380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 611.32 Td (36,900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 611.32 Td (34,389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 598.32 Td (Restricted stock unit amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.15 598.32 Td (1,656) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 598.32 Td (857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 598.32 Td (8,213) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 598.32 Td (3,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 585.32 Td (Other general and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 585.32 Td (16,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 585.32 Td (17,163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 585.32 Td (31,422) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 585.32 Td (32,890) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 572.32 Td (Total general and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 572.32 Td (34,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 572.32 Td (34,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 572.32 Td (76,535) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 572.32 Td (71,268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.00 559.32 Td (Total selling, general and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.00 559.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 559.32 Td (48,705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.00 559.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 559.32 Td (47,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 559.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 559.32 Td (104,838) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 559.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 559.32 Td (98,549) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 102.00 546.31 Td (Percent of revenue) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 325.15 546.31 Td (8.1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 337.65 546.31 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 399.15 546.31 Td (8.3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 411.65 546.31 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 465.15 546.31 Td (10.0) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 482.65 546.31 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.15 546.31 Td (10.0) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 553.65 546.31 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 525.25 Td (Selling, general and administrative expenses for the three and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.80 525.25 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.47 525.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 525.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.13 525.25 Td ( increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.88 525.25 Td ($1.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.77 525.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 513.25 Td (2.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.83 513.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.77 513.25 Td ($6.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.66 513.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.49 513.25 Td (6.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.32 513.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 243.98 513.25 Td (, compared to the same periods in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.16 513.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.16 513.25 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 495.25 Td (Selling Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 477.25 Td (Selling expenses include the costs for estimating and bidding, business development and materials facility permits. Selling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 465.25 Td (expenses can vary depending on the volume of projects in process and the number of employees assigned to estimating and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 453.25 Td (bidding activities.) Tj ET Q q 0 0 0 rg BT 136.60 453.25 Td (As projects are completed or the volume of work slows down, wetemporarily redeploy project employees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 441.25 Td (to bid on new projects, moving their salaries and relatedcostsfrom cost of revenue to selling expenses. Selling expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 429.25 Td (during the three and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.75 429.25 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.42 429.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.24 429.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.07 429.25 Td ( increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.83 429.25 Td ($0.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.72 429.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.55 429.25 Td (5.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.38 429.25 Td (, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.32 429.25 Td ($1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.21 429.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.04 429.25 Td (3.7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.87 429.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 417.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 110.66 417.25 Td (, comparedto the same periods in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.84 417.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.84 417.25 Td ( primarily due to increases in salaries and related expenses from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 405.25 Td (timing of bidding activity) Tj ET Q q 0 0 0 rg BT 164.84 405.25 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 63.00 387.25 Td (General and ) Tj ET Q q 0 0 0 rg BT 115.59 387.25 Td (Administrative Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 369.25 Td (General and administrative expenses include costs related to our operational of) Tj ET Q q 0 0 0 rg BT 378.26 369.25 Td (fices that are not allocated to direct contract ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 357.25 Td (costs and expenses related to our corporate functions. ) Tj ET Q q 0 0 0 rg BT 279.14 357.25 Td (These costs include variable cash and restricted stock performance-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 345.25 Td (based incentives for select management personnel on which our compensation strategy heavily relies. ) Tj ET Q q 0 0 0 rg BT 471.57 345.25 Td (The cash portion of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 333.25 Td (these incentives is expensed when earned while the restricted stock portion is expensed as earned over the vesting period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 321.25 Td (the restricted stock award \(generally three years; however) Tj ET Q q 0 0 0 rg BT 293.88 321.25 Td (, immediate vesting may apply to certain awards\). Other general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 309.25 Td (and administrative expenses include travel and entertainment, outside services, information technology) Tj ET Q q 0 0 0 rg BT 474.45 309.25 Td (, depreciation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 297.25 Td (occupancy) Tj ET Q q 0 0 0 rg BT 105.10 297.25 Td (, training, of) Tj ET Q q 0 0 0 rg BT 154.36 297.25 Td (fice supplies, changes in the fair market value of our Non-Qualified Deferred Compensation plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 285.25 Td (liability and other miscellaneous expenses, none of which individually exceeded 10% of total general and administrative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 273.25 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 103.92 273.25 Td (T) Tj ET Q q 0 0 0 rg BT 109.33 273.25 Td (otal general and administrative expensesfor the three and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.29 273.25 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.96 273.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.79 273.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.62 273.25 Td ( increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.37 273.25 Td ($0.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 261.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.89 261.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.72 261.25 Td (1.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.55 261.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.99 261.25 Td ($5.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.88 261.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.71 261.25 Td (7.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.54 261.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 286.20 261.25 Td (, comparedto the same periods in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.39 261.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.39 261.25 Td ( primarily due to an increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 249.25 Td (in salaries and health insurance costs for the three month period ended and an increase in restricted stock unit amortization ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 237.25 Td (from awards issued in the first quarter of 2016, a portion of which immediately vested, for the six month period.) 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Expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 724.25 Td (The ) Tj ET Q q 0 0 0 rg BT 81.05 724.25 Td (following ) Tj ET Q q 0 0 0 rg BT 122.43 724.25 Td (table ) Tj ET Q q 0 0 0 rg BT 144.37 724.25 Td (presents ) Tj ET Q q 0 0 0 rg BT 179.64 724.25 Td (the ) Tj ET Q q 0 0 0 rg BT 194.35 724.25 Td (components ) Tj ET Q q 0 0 0 rg BT 245.18 724.25 Td (of ) Tj ET Q q 0 0 0 rg BT 256.01 724.25 Td (other ) Tj ET Q q 0 0 0 rg BT 279.05 724.25 Td (\(income\) ) Tj ET Q q 0 0 0 rg BT 317.65 724.25 Td (expensefor ) Tj ET Q q 0 0 0 rg BT 366.52 724.25 Td (the ) Tj ET Q q 0 0 0 rg BT 381.23 724.25 Td (respective ) Tj ET Q q 0 0 0 rg BT 424.26 724.25 Td (periods:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 685.75 205.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 685.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 685.75 72.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 685.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 685.75 72.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 685.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 685.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 685.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 685.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 659.75 205.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 659.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 659.75 72.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 659.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 659.75 72.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 659.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 659.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 659.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 659.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 633.75 205.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 633.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 633.75 72.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 633.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 633.75 72.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 633.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 633.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 633.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 633.75 67.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 713.75 m 268.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 713.75 m 272.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 713.75 m 344.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 698.75 m 344.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 713.75 m 348.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 698.75 m 348.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 713.75 m 420.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 698.75 m 420.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 713.75 m 424.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 698.75 m 424.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 713.75 m 491.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 698.75 m 491.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 713.75 m 495.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 698.75 m 495.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 713.75 m 562.5 713.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 698.75 m 562.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 685.75 m 268.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 685.75 m 272.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 685.75 m 344.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 685.75 m 348.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 698.75 m 420.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 685.75 m 420.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 685.75 m 424.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 685.75 m 491.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 685.75 m 495.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 698.75 m 562.5 698.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 685.75 m 562.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 685.75 m 344.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 685.75 m 420.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 685.75 m 491.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 685.75 m 562.5 685.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 633.75 m 268.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 633.75 m 272.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 633.75 m 344.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 633.75 m 348.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 633.75 m 420.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 633.75 m 424.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 633.75 m 491.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 633.75 m 495.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 633.75 m 562.5 633.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 621.75 m 268.5 621.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 619.75 m 268.5 619.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 621.75 m 272.5 621.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 619.75 m 272.5 619.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 621.75 m 344.5 621.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 619.75 m 344.5 619.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 621.75 m 348.5 621.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 619.75 m 348.5 619.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 621.75 m 420.5 621.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 619.75 m 420.5 619.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 621.75 m 424.5 621.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 619.75 m 424.5 619.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 621.75 m 491.5 621.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 619.75 m 491.5 619.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 621.75 m 495.5 621.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 619.75 m 495.5 619.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 621.75 m 562.5 621.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 619.75 m 562.5 619.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 704.48 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.45 703.43 Td (Thr) Tj ET Q q 0 0 0 rg BT 297.94 703.43 Td (ee Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.50 703.43 Td (Six Months Ended June 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 689.31 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.00 689.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.00 689.48 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 689.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 689.48 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 676.32 Td (Interest income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.00 676.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.30 676.37 Td (\(798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.65 676.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 676.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.30 676.37 Td (\(528) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 676.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 676.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 676.37 Td (\(1,634) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 676.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 676.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 676.37 Td (\(970) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 676.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 663.32 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 663.32 Td (3,187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 663.32 Td (3,985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 663.32 Td (6,236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 663.32 Td (7,481) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 650.32 Td (Equity in income of affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.30 650.37 Td (\(717) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.65 650.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.30 650.37 Td (\(670) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 650.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 650.37 Td (\(2,159) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 650.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 650.37 Td (\(607) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 650.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 637.32 Td (Other income, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 637.37 Td (\(3,183) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.65 637.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.30 637.37 Td (\(152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 637.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 637.37 Td (\(4,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 637.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 637.37 Td (\(1,436) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 637.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 624.32 Td (Total other \(income\) expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.00 624.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 624.37 Td (\(1,511) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.65 624.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 624.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 624.32 Td (2,635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 624.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 624.37 Td (\(2,112) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 624.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 624.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 624.32 Td (4,468) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.027450980392156862 0.027450980392156862 0.027450980392156862 rg BT 63.00 600.25 Td (Other income, net ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 137.42 600.25 Td (for the three and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.72 600.25 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.39 600.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.21 600.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.027450980392156862 0.027450980392156862 0.027450980392156862 rg BT 334.04 600.25 Td ( increased ) Tj ET Q BT /F1 10.00 Tf ET q 0.027450980392156862 0.027450980392156862 0.027450980392156862 rg BT 376.80 600.25 Td ($3.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0.027450980392156862 0.027450980392156862 0.027450980392156862 rg BT 425.69 600.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0.027450980392156862 0.027450980392156862 0.027450980392156862 rg BT 445.13 600.25 Td ($3.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0.027450980392156862 0.027450980392156862 0.027450980392156862 rg BT 494.02 600.25 Td (, respectively) Tj ET Q q 0.027450980392156862 0.027450980392156862 0.027450980392156862 rg BT 546.68 600.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0.027450980392156862 0.027450980392156862 0.027450980392156862 rg BT 63.00 588.25 Td (when compared to the same periods in 2015 primarily due to) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 306.27 588.25 Td ( a gain associated with a consolidated real estate entity) Tj ET Q q 0 0 0 rg BT 524.15 588.25 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 570.25 Td (Income T) Tj ET Q q 0 0 0 rg BT 101.80 570.25 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 552.25 Td (The following table presentsthe provision for income taxes for the respective periods:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 513.75 205.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 513.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 513.75 72.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 513.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 513.75 72.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 513.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 513.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 513.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 513.75 67.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 541.75 m 268.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 541.75 m 272.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 541.75 m 344.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 526.75 m 344.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 541.75 m 348.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 526.75 m 348.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 541.75 m 420.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 526.75 m 420.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 541.75 m 424.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 526.75 m 424.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 541.75 m 491.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 526.75 m 491.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 541.75 m 495.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 526.75 m 495.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 541.75 m 562.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 526.75 m 562.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 513.75 m 268.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 513.75 m 272.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 513.75 m 344.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 513.75 m 348.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 513.75 m 420.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 513.75 m 424.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 513.75 m 491.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 513.75 m 495.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 513.75 m 562.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 513.75 m 344.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 513.75 m 420.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 513.75 m 491.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 513.75 m 562.5 513.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 532.48 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.45 531.43 Td (Thr) Tj ET Q q 0 0 0 rg BT 297.94 531.43 Td (ee Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.50 531.43 Td (Six Months Ended June 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 517.31 Td (\(dollars in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.00 517.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.00 517.48 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 517.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 517.48 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 504.32 Td (Provision forincome taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.00 504.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 504.32 Td (8,916) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 504.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 504.32 Td (4,975) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 504.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 504.32 Td (3,739) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 504.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 504.32 Td (469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 491.32 Td (Effective tax rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 491.32 Td (32.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 491.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.15 491.32 Td (34.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.65 491.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.15 491.32 Td (32.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 491.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 491.32 Td (33.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 491.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 467.25 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 467.25 Td (e calculate our income tax provision at the end of each interim period by estimating our annual ef) Tj ET Q q 0 0 0 rg BT 461.04 467.25 Td (fective tax rate and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 455.25 Td (applying that rate to our year) Tj ET Q q 0 0 0 rg BT 178.59 455.25 Td (-to-date ordinary earnings. ) Tj ET Q q 0 0 0 rg BT 287.26 455.25 Td (The ef) Tj ET Q q 0 0 0 rg BT 312.89 455.25 Td (fect of changes in enacted tax laws, tax rates or tax status is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 443.25 Td (recognized in the interim period in which the change occurs.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 36.00 425.25 Td ( ) Tj ET Q q 0 0 0 rg BT 63.00 425.25 Td (Amount ) Tj ET Q q 0 0 0 rg BT 98.48 425.25 Td (Attributable to Non-controlling Interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 407.25 Td (The following table presents the amount attributable to non-controlling interests in consolidated subsidiaries for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 395.25 Td (respective periods:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 356.75 205.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 356.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.50 356.75 72.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 356.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 356.75 72.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 356.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 356.75 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 356.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 356.75 67.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 384.75 m 268.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 384.75 m 272.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 384.75 m 344.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 369.75 m 344.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 384.75 m 348.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 369.75 m 348.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 384.75 m 420.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 369.75 m 420.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 384.75 m 424.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 369.75 m 424.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 384.75 m 491.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 369.75 m 491.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 384.75 m 495.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 369.75 m 495.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 384.75 m 562.5 384.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 369.75 m 562.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 356.75 m 268.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 356.75 m 272.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 369.75 m 344.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 356.75 m 344.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 369.75 m 348.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 356.75 m 348.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 369.75 m 420.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 356.75 m 420.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 369.75 m 424.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 356.75 m 424.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 369.75 m 491.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 356.75 m 491.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 369.75 m 495.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 356.75 m 495.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 369.75 m 562.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 356.75 m 562.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272.5 356.75 m 344.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 356.75 m 420.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 356.75 m 491.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 356.75 m 562.5 356.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 375.48 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.45 374.43 Td (Three Months Ended June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.50 374.43 Td (Six Months Ended June 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 360.31 Td (\(dollars in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.00 360.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.00 360.48 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 360.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 360.48 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 347.32 Td (Amount attributable to non-controlling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.00 347.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 347.37 Td (\(4,327) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.65 347.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.00 347.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.65 347.32 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 347.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 347.37 Td (\(5,005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 347.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 347.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 347.32 Td (124) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 326.25 Td (The amount attributable to non-controlling interests represents the non-controlling owners) Tj ET Q q 0 0 0 rg BT 426.33 326.25 Td ( share of the income or loss of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 314.25 Td (our consolidated construction joint ventures and real estate entities. ) Tj ET Q q 0 0 0 rg BT 334.41 314.25 Td (The change for the three and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.57 314.25 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.24 314.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.06 314.25 Td (June30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 302.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.027450980392156862 0.027450980392156862 0.027450980392156862 rg BT 83.00 302.25 Td ( was primarily due ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 160.20 302.25 Td (to an estimated recovery of back char) Tj ET Q q 0 0 0 rg BT 309.95 302.25 Td (ge claims in 2016 and certain profitable projects nearing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 290.25 Td (completion.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 272.25 Td (Certain Legal Pr) Tj ET Q q 0 0 0 rg BT 135.02 272.25 Td (oceedings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 254.25 Td (As discussed in Note 13 of Notes to the Condensed Consolidated Financial Statements, under certain circumstances the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 242.25 Td (resolution of certain legal proceedings to which we are subject could have direct or indirect consequences that could have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 230.25 Td (material adverse ef) Tj ET Q q 0 0 0 rg BT 138.88 230.25 Td (fect on our financial position, results of operations, cash flows and/or liquidity) Tj ET Q q 0 0 0 rg BT 451.78 230.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 212.25 Td (Liquidity ) Tj ET Q q 0 0 0 rg BT 105.52 212.25 Td (and ) Tj ET Q q 0 0 0 rg BT 124.14 212.25 Td (Capital ) Tj ET Q q 0 0 0 rg BT 158.31 212.25 Td (Resour) Tj ET Q q 0 0 0 rg BT 188.68 212.25 Td (ces) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 194.25 Td (The timing dif) Tj ET Q q 0 0 0 rg BT 120.59 194.25 Td (ferences between our cash inflows and outflows require us to maintain adequate levels of working capital. ) Tj ET Q q 0 0 0 rg BT 547.21 194.25 Td (W) Tj ET Q q 0 0 0 rg BT 555.85 194.25 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 182.25 Td (believe our cash and cash equivalents, short-term investments, available borrowing capacity and cash expected to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 170.25 Td (generated from operations will be suf) Tj ET Q q 0 0 0 rg BT 212.49 170.25 Td (ficient to meet our expected working capital needs, capital expenditures, financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 158.25 Td (commitments, cash dividend payments, and other liquidity requirements associated with our existing operations for the next ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 146.25 Td (twelve months. ) Tj ET Q q 0 0 0 rg BT 126.42 146.25 Td (W) Tj ET Q q 0 0 0 rg BT 135.06 146.25 Td (e maintain a collateralized credit facility of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.69 146.25 Td ($297.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.59 146.25 Td (, of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.35 146.25 Td ($186.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.25 146.25 Td ( was available at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 134.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.83 134.25 Td (, to provide capital needs to fund growth opportunities, either internal or generated through acquisitions \(see ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 122.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 89.94 122.25 Td (Agreement discussion below\) or to pay installments on our 2019 Notes \(see Senior Notes Payable discussion below\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 110.25 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 110.25 Td (e do not anticipate that this credit facility will be required to fund future working capital needs associated with our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 98.25 Td (existing operations. If we experience a prolonged change in our business operating results or make a significant acquisition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 86.25 Td (we may need to acquire additional sources of financing, which, if available,may be limited by the terms of our existing debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 74.25 Td (covenants, or may require the amendment of our existing debt agreements. ) Tj ET Q q 0 0 0 rg BT 364.11 74.25 Td (There can be no assurance that suf) Tj ET Q q 0 0 0 rg BT 501.64 74.25 Td (ficient capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 62.25 Td (will continue to be available in the future or that it will be available on terms acceptable to us. ) Tj ET Q endstream endobj 57 0 obj <>] /Rotate 0 /Contents 58 0 R>> endobj 58 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (28) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 742.10 Td (e typically invoice our customers on a monthly basis. Our contracts frequently call for retention that is a specified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 730.10 Td (percentage withheld from each payment until the contract is completed and the work accepted by the customer) Tj ET Q q 0 0 0 rg BT 505.06 730.10 Td (. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 718.10 Td (revenue, gross profit and the resulting cash flows can dif) Tj ET Q q 0 0 0 rg BT 289.42 718.10 Td (fer significantly from period to period due to a variety of factors, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 706.10 Td (including our projects) Tj ET Q q 0 0 0 rg BT 153.35 706.10 Td ( progressions toward completion, outstanding contract change orders and claims and the payment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 694.10 Td (terms of our contracts. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 676.10 Td (The following table presents our cash, cash equivalents and marketable securities, including amounts from our consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 664.10 Td (joint ventures \() Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 123.54 664.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.54 664.10 Td (CCJVs) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 156.89 664.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.89 664.10 Td (\), as of the respective dates:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 628.60 286.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 628.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 628.60 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 628.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 628.60 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 628.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 628.60 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 602.60 286.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 602.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 602.60 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 602.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 602.60 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 602.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 602.60 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 576.60 286.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 576.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 576.60 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 576.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 576.60 67.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 576.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 576.60 67.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 653.6 m 349.5 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 628.6 m 349.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 653.6 m 353.5 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 628.6 m 353.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 653.6 m 420.5 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 628.6 m 420.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 653.6 m 424.5 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 628.6 m 424.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 653.6 m 491.5 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 628.6 m 491.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 653.6 m 495.5 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 628.6 m 495.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 653.6 m 562.5 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 628.6 m 562.5 628.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 602.6 m 349.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 602.6 m 353.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 602.6 m 420.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 602.6 m 424.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 602.6 m 491.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 602.6 m 495.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 602.6 m 562.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 602.6 m 420.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 602.6 m 491.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 602.6 m 562.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 576.6 m 349.5 576.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 576.6 m 353.5 576.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 576.6 m 420.5 576.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 576.6 m 424.5 576.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 576.6 m 491.5 576.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 576.6 m 495.5 576.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 576.6 m 562.5 576.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 564.6 m 349.5 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 562.6 m 349.5 562.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 564.6 m 353.5 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 562.6 m 353.5 562.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 564.6 m 420.5 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 562.6 m 420.5 562.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 564.6 m 424.5 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 562.6 m 424.5 562.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 564.6 m 491.5 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 562.6 m 491.5 562.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 564.6 m 495.5 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 562.6 m 495.5 562.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 564.6 m 562.5 564.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 562.6 m 562.5 562.6 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 633.31 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.70 643.28 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.50 633.28 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.40 643.28 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 633.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.70 644.33 Td (June 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 634.33 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 619.17 Td (Cash and cash equivalents excluding consolidated joint ventures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 619.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 619.17 Td (111,153) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 619.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 619.17 Td (206,626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 619.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 619.17 Td (141,184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 606.17 Td (Consolidated construction joint venture cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 329.54 610.70 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 606.17 Td (50,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 606.17 Td (46,210) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 606.17 Td (46,963) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 593.17 Td (Total consolidated cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 593.17 Td (161,218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 593.17 Td (252,836) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 593.17 Td (188,147) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 580.17 Td (Short-term and long-term marketable securities) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 255.38 584.70 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.15 580.17 Td (77,612) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 580.17 Td (105,695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 580.17 Td (88,068) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 567.17 Td (Total cash, cash equivalents and marketable securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 567.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 567.17 Td (238,830) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.00 567.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.15 567.17 Td (358,531) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 567.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 567.17 Td (276,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 564.00 564.10 Td () Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 63.00 557.38 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.92 553.30 Td (The volume and stage of completion of contracts from our CCJVs may cause fluctuations in joint venture cash and cash equivalents ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 67.50 542.50 Td (between periods. ) Tj ET Q q 0 0 0 rg BT 130.57 542.50 Td (These funds generally are not available for the working capital or other liquidity needs of Granite until distributed.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 63.00 535.78 Td (2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.92 531.70 Td (See Note4 of Notes to the Condensed Consolidated Financial Statements for the composition of our marketable securities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 513.70 Td (Our primary sources of liquidity are cash and cash equivalents, marketable securities and cash generated from operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 501.70 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 501.70 Td (e may also from time to time access our Credit ) Tj ET Q q 0 0 0 rg BT 260.48 501.70 Td (Agreement \(defined below\), issue and sell equity) Tj ET Q q 0 0 0 rg BT 456.15 501.70 Td (, debt or hybrid securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 489.70 Td (or engage in other capital markets transactions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 471.70 Td (Our cash and cash equivalents consisted of deposits and money market funds held with established national financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 459.70 Td (institutions. Marketable securities consist of U.S.Government and agency obligations and commercial paper) Tj ET Q q 0 0 0 rg BT 497.61 459.70 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 441.70 Td (Granite) Tj ET Q q 0 0 0 rg BT 95.76 441.70 Td (s portion of consolidated joint venture cash and cash equivalents was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.30 441.70 Td ($30.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.20 441.70 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.20 441.70 Td ($28.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.09 441.70 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.53 441.70 Td ($29.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.42 441.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 429.70 Td (as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.66 429.70 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.49 429.70 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.49 429.70 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.07 429.70 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.51 429.70 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.34 429.70 Td (, respectively) Tj ET Q q 0 0 0 rg BT 352.00 429.70 Td (. Granite) Tj ET Q q 0 0 0 rg BT 389.77 429.70 Td (s portion of unconsolidated joint venture ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 417.70 Td (cash and cash equivalents was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.57 417.70 Td ($127.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.46 417.70 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.46 417.70 Td ($127.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.35 417.70 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.79 417.70 Td ($104.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.68 417.70 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.84 417.70 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.67 417.70 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.67 417.70 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.26 417.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 405.70 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.94 405.70 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.77 405.70 Td (, respectively) Tj ET Q q 0 0 0 rg BT 188.43 405.70 Td (. ) Tj ET Q q 0 0 0 rg BT 193.25 405.70 Td (The assets of each consolidated and unconsolidated construction joint venture relate solely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 393.70 Td (to that joint venture. ) Tj ET Q q 0 0 0 rg BT 146.41 393.70 Td (The decision to distribute joint venture assets must generally be made jointly by a majority of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 381.70 Td (members and, accordingly) Tj ET Q q 0 0 0 rg BT 168.15 381.70 Td (, these assets, including those associated with customer af) Tj ET Q q 0 0 0 rg BT 399.02 381.70 Td (firmative claims and back char) Tj ET Q q 0 0 0 rg BT 522.12 381.70 Td (ge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 369.70 Td (claims, are generally not available for the working capital needs of Granite until distributed. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 351.70 Td (Our principal uses of liquidity are paying the costs and expenses associated with our operations, servicing outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 339.70 Td (indebtedness, making capital expenditures and paying dividends on our capital stock.) Tj ET Q q 0 0 0 rg BT 406.34 339.70 Td (W) Tj ET Q q 0 0 0 rg BT 414.98 339.70 Td (e may also from time to time prepay ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 327.70 Td (or repurchase outstanding indebtedness and acquire assets or businesses that are complementary to our operations, such as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 315.70 Td (our acquisition of Kenny in December 2012.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 297.70 Td (Derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 279.70 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 279.70 Td (e recognize derivative instruments as either assets or liabilities in the condensed consolidated balance sheets at fair value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 267.70 Td (using Level 2 inputs. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 249.70 Td (In January 2016, we entered in to an interest rate swap designed to convert the interest rate on our term loan from variable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 237.70 Td (fixed \(See Credit ) Tj ET Q q 0 0 0 rg BT 133.26 237.70 Td (Agreement section below\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 219.70 Td (In March 2014, we entered into an interest rate swap designed to convert the interest rate on our 2019 Notes \(as defined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 207.70 Td (below\) from fixed to variable \(See Senior Notes Payable section below\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 189.70 Td (Our diesel and natural gas commodity swaps were settled in October 2015. ) Tj ET Q q 0 0 0 rg BT 364.87 189.70 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.31 189.70 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.14 189.70 Td (, the fair value of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 177.70 Td (swaps was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.00 177.70 Td ($1.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.89 177.70 Td ( and was included in accrued expenses and other current liabilities on the condensed consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 165.70 Td (balance sheets. During the three and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.94 165.70 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.77 165.70 Td (, the amounts included in other \(income\) expense, net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 153.70 Td (in our condensed consolidated statements of operations were immaterial.) Tj ET Q endstream endobj 59 0 obj <>] /Rotate 0 /Contents 60 0 R>> endobj 60 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (29) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 742.25 Td (Cash Flows) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 703.75 335.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 703.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 703.75 78.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 703.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 703.75 78.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 677.75 335.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 677.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 677.75 78.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 677.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 677.75 78.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 731.75 m 398.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 731.75 m 402.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 731.75 m 480.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 716.75 m 480.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 731.75 m 484.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 716.75 m 484.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 731.75 m 562.5 731.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 716.75 m 562.5 716.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 703.75 m 398.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 703.75 m 402.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 703.75 m 480.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 703.75 m 484.5 703.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 484.5 703.75 m 562.5 703.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 721.43 Td (Six Months Ended June 30,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.00 707.31 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.00 707.48 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.00 707.48 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 694.32 Td (Net cash \(used\) in provided by:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 694.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.00 694.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 681.32 Td (Operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 681.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.80 681.37 Td (\(53,929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 681.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.00 681.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 681.37 Td (\(56,663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 681.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 668.32 Td (Investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.80 668.37 Td (\(21,349) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 668.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 668.32 Td (3,548) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.00 655.32 Td (Financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.80 655.37 Td (\(16,340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 655.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 655.37 Td (\(14,699) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 655.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 631.25 Td (As a lar) Tj ET Q q 0 0 0 rg BT 93.92 631.25 Td (ge construction and heavy civil contractor and construction materials producer) Tj ET Q q 0 0 0 rg BT 407.57 631.25 Td (, our operating cash flows are subject ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 619.25 Td (to seasonal cycles, as well as the cycles associated with winning, performing and closing projects. ) Tj ET Q q 0 0 0 rg BT 456.78 619.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 506.69 619.25 Td (, operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 607.25 Td (cash flows are impacted by the timing related to funding construction joint ventures and the resolution of uncertainties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 595.25 Td (inherent in the complex nature of the work that we perform, including claims settlements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 577.25 Td (Cash used in operating activities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.30 577.25 Td ($53.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.19 577.25 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.57 577.25 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.24 577.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.06 577.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.89 577.25 Td ( represents a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.37 577.25 Td ($2.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.26 577.25 Td ( decrease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 565.25 Td (from the cash used in operating activities during the same period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.59 565.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.59 565.25 Td (.) Tj ET Q q 0 0 0 rg BT 359.41 565.25 Td (The change was primarily due to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.19 565.25 Td ($31.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.08 565.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 553.25 Td (increase in cash used in working capital, of) Tj ET Q q 0 0 0 rg BT 235.54 553.25 Td (fset by an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.92 553.25 Td ($18.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.81 553.25 Td ( increase in net income after adjusting for non-cash items ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 541.25 Td (and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.88 541.25 Td ($16.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.77 541.25 Td ( decrease in net contributions to unconsolidated joint ventures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 523.25 Td (Cashused in investing activities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.20 523.25 Td ($21.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.09 523.25 Td ( for the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.47 523.25 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.14 523.25 Td ( months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.97 523.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.80 523.25 Td (represents a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.27 523.25 Td ($24.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.16 523.25 Td ( increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 511.25 Td (in the cash used in investing activities during the same period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.83 511.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.83 511.25 Td (. ) Tj ET Q q 0 0 0 rg BT 346.65 511.25 Td (The change was primarily due to an increase in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 499.25 Td (purchases, net of sales proceeds, of property and equipment \(see Capital Expenditures discussion below\) partially of) Tj ET Q q 0 0 0 rg BT 527.96 499.25 Td (fset by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 487.25 Td (an increase from maturities of marketable securities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 469.25 Td (Cashused infinancing activities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.30 469.25 Td ($16.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.19 469.25 Td ( for the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.57 469.25 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.24 469.25 Td ( months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.06 469.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.89 469.25 Td ( represents a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.37 469.25 Td ($1.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.26 469.25 Td ( increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 457.25 Td (in the cash used in financing activities during the sameperiod in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.93 457.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.93 457.25 Td (. ) Tj ET Q q 0 0 0 rg BT 347.75 457.25 Td (The change was primarily due to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.53 457.25 Td ($1.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.42 457.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 445.25 Td (increase in the repurchases of common stock related to shares surrendered to pay taxes for vested restricted stock.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 427.25 Td (Capital Expenditur) Tj ET Q q 0 0 0 rg BT 145.89 427.25 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 409.25 Td (During the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.55 409.25 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.22 409.25 Td ( months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.04 409.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.87 409.25 Td (, we had capital expenditures of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.54 409.25 Td ($48.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.44 409.25 Td ( compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.14 409.25 Td ($16.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.03 409.25 Td ( during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 397.25 Td (thesame period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.09 397.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.09 397.25 Td (. Major capital expenditures are typically for aggregate and asphalt production facilities, aggregate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 385.25 Td (reserves, construction equipment, buildings andleasehold improvements andinvestments inour information technology ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 373.25 Td (systems. ) Tj ET Q q 0 0 0 rg BT 99.49 373.25 Td (The timing and amount of such expenditures can vary based on the progress of planned capital projects, the type ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 361.25 Td (and size of construction projects, changes in business outlook and other factors. ) Tj ET Q q 0 0 0 rg BT 383.85 361.25 Td (W) Tj ET Q q 0 0 0 rg BT 392.49 361.25 Td (e currently anticipate 2016 capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 349.25 Td (expenditures to be between $70.0 million and $80.0 million, including significant investments in equipment for new CCJVs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 337.25 Td (in our Lar) Tj ET Q q 0 0 0 rg BT 102.80 337.25 Td (ge Project Construction segment, some of which were purchased during the six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.22 337.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.05 337.25 Td (.) Tj ET Q endstream endobj 61 0 obj <>] /Rotate 0 /Contents 62 0 R>> endobj 62 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (30) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 742.25 Td (Cr) Tj ET Q q 0 0 0 rg BT 74.48 742.25 Td (edit ) Tj ET Q q 0 0 0 rg BT 92.54 742.25 Td (Agr) Tj ET Q q 0 0 0 rg BT 109.02 742.25 Td (eement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 724.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.44 724.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.27 724.25 Td (, we had a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.31 724.25 Td ($297.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.20 724.25 Td ( credit facility) Tj ET Q q 0 0 0 rg BT 300.64 724.25 Td (, of which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.41 724.25 Td ($200.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.30 724.25 Td ( was a revolving credit facility and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 712.25 Td ($97.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.89 712.25 Td ( was a term loan that matures on October 28, 2020 \(the Maturity Date\) and has a sublimit for letters of credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 700.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.83 700.25 Td ($100.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.72 700.25 Td ( \(the Credit ) Tj ET Q q 0 0 0 rg BT 184.65 700.25 Td (Agreement\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 682.25 Td (Of the original ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.37 682.25 Td ($100.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.26 682.25 Td ( term loan, we paid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.68 682.25 Td (1.25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.51 682.25 Td ( of the principal balance in March 2016 and June 2016. ) Tj ET Q q 0 0 0 rg BT 511.60 682.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 670.25 Td (remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.04 670.25 Td ($97.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.93 670.25 Td ( is due in nine quarterly installments in the amount of 1.25% of the original principal balance, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 658.25 Td (2.50% of the original principal balance is due in eight quarterly installments beginning in December 2018 and the remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 646.25 Td (balance is due on the Maturity Date. ) Tj ET Q q 0 0 0 rg BT 210.18 646.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.62 646.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.45 646.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.45 646.25 Td ($92.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.34 646.25 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.39 646.25 Td ($97.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.28 646.25 Td ( term loan was included in long-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 634.25 Td (term debt and the remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.24 634.25 Td ($5.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.13 634.25 Td ( was included in current maturities of long-term debt on the consolidated balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 622.25 Td (sheets. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 604.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.44 604.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.27 604.25 Td (, the total stated amount of all issued and outstanding letters of credit was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.59 604.25 Td ($13.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.48 604.25 Td (. ) Tj ET Q q 0 0 0 rg BT 498.30 604.25 Td (The total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 592.25 Td (unused availability under the Credit ) Tj ET Q q 0 0 0 rg BT 208.24 592.25 Td (Agreement was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.22 592.25 Td ($186.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.11 592.25 Td (. ) Tj ET Q q 0 0 0 rg BT 336.93 592.25 Td (The letters of credit will expire between ) Tj ET Q q 0 0 0 rg BT 498.81 592.25 Td (August 2016 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 580.25 Td (and March 2017. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 562.25 Td (Borrowings under the Credit ) Tj ET Q q 0 0 0 rg BT 179.65 562.25 Td (Agreement bear interest at LIBOR or a base rate \(at our option\), plus an applicable mar) Tj ET Q q 0 0 0 rg BT 528.78 562.25 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 550.25 Td (based on certain financial ratios calculated quarterly) Tj ET Q q 0 0 0 rg BT 271.14 550.25 Td (. LIBOR varies based on the applicable loan term, market conditions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 538.25 Td (and other external factors. ) Tj ET Q q 0 0 0 rg BT 169.71 538.25 Td (The applicable mar) Tj ET Q q 0 0 0 rg BT 246.72 538.25 Td (gin was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.05 538.25 Td (1.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.88 538.25 Td ( for loans bearing interest based on LIBOR and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.77 538.25 Td (0.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.60 538.25 Td ( for loans ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 526.25 Td (bearing interest at the base rate at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.32 526.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.15 526.25 Td (. ) Tj ET Q q 0 0 0 rg BT 259.60 526.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 308.94 526.25 Td (, the ef) Tj ET Q q 0 0 0 rg BT 336.24 526.25 Td (fective interest rate using three-month LIBOR and base ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 514.25 Td (rate was between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.35 514.25 Td (2.40%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.18 514.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.62 514.25 Td (4.25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.45 514.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 258.11 514.25 Td (, at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.83 514.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.66 514.25 Td ( and we elected to use LIBOR. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 496.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.44 496.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.27 496.25 Td (, the fair value of the cash flow hedge that we entered into in January 2016, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.11 496.25 Td ($2.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.00 496.25 Td ( and was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 484.25 Td (included in accrued expenses and other current liabilities on the condensed consolidated balance sheets. During the three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 472.25 Td (and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.43 472.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.26 472.25 Td (, the losses, net of taxes, on the ef) Tj ET Q q 0 0 0 rg BT 342.77 472.25 Td (fective portion were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.79 472.25 Td ($0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.68 472.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.12 472.25 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.01 472.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 460.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 110.66 460.25 Td (, and were reported as a component of accumulated other comprehensive loss. During the three and six months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 448.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.38 448.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.21 448.25 Td ( there was no inef) Tj ET Q q 0 0 0 rg BT 216.11 448.25 Td (fective portion and the interest expense reclassified from accumulated other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 436.25 Td (comprehensive income was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.02 436.25 Td ($0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.91 436.25 Td ( for both periods.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 419.25 Td (The Credit ) Tj ET Q q 0 0 0 rg BT 107.99 419.25 Td (Agreement provides for the release of the liens securing the obligations, at our option and expense, so long as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 407.25 Td (certain conditions as defined by the terms in the Credit ) Tj ET Q q 0 0 0 rg BT 284.05 407.25 Td (Agreement are satisfied \(Collateral Release Period\). However) Tj ET Q q 0 0 0 rg BT 542.43 407.25 Td (, if ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 395.25 Td (subsequent to exercising the option, our Consolidated Fixed Char) Tj ET Q q 0 0 0 rg BT 324.72 395.25 Td (ge Coverage Ratio is less than 1.25 or our Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 383.25 Td (Leverage Ratio is greater than 2.50, then we would be required to promptly re-pledge substantially all of the assets of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 371.25 Td (Company and our subsidiaries that are guarantors or borrowers under the Credit ) Tj ET Q q 0 0 0 rg BT 384.58 371.25 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 433.45 371.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.90 371.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.73 371.25 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 359.25 Td (conditions for the exercise of our right under the Credit ) Tj ET Q q 0 0 0 rg BT 286.27 359.25 Td (Agreement to have liens released were not satisfied.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 341.25 Td (Senior) Tj ET Q q 0 0 0 rg BT 90.60 341.25 Td ( Notes Payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 323.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.44 323.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.27 323.25 Td (, senior notes payable in the amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.73 323.25 Td ($160.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.63 323.25 Td ( were due to a group of institutional holders with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 311.25 Td (four remaining annual installments from 2016 through 2019 and bear interest at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.03 311.25 Td (6.1) Tj ET Q q 0 0 0 rg BT 396.16 311.25 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.49 311.25 Td ( per annum \(2019 Notes\). Of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 299.25 Td ($40.0 million due for the 2016 installment of the 2019 Notes, $30.0 million was included in long-term debt on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 287.25 Td (condensed consolidated balance sheets as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.38 287.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.21 287.25 Td ( and December 31, 2015, as we have the ability and intent to pay ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 275.25 Td (this installment using borrowings under the Credit ) Tj ET Q q 0 0 0 rg BT 266.04 275.25 Td (Agreement or by obtaining other sources of financing.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 257.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.44 257.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.27 257.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.27 257.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.86 257.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.30 257.25 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.13 257.25 Td (, the fair value of the interest rate swap that we entered into in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 245.25 Td (March 2014, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.65 245.25 Td ($1.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.54 245.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.54 245.25 Td ($0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.43 245.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.87 245.25 Td ($0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.76 245.25 Td ( and was included in other current assets on the condensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 233.25 Td (consolidated balance sheets. During the three and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.48 233.25 Td (six) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 233.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.98 233.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.81 233.25 Td (, we recorded net gains of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.60 233.25 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.49 233.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 221.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.94 221.25 Td ($1.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.83 221.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 181.49 221.25 Td (, and during the three and six months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.67 221.25 Td (June30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.50 221.25 Td ( we recorded a net loss of less than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 209.25 Td ($0.1 million and a net gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.53 209.25 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.42 209.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 285.08 209.25 Td (, and these amounts were included in other income, net on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 197.25 Td (condensed consolidated statements of operations.) Tj ET Q endstream endobj 63 0 obj <>] /Rotate 0 /Contents 64 0 R>> endobj 64 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (31) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 742.25 Td (Sur) Tj ET Q q 0 0 0 rg BT 78.38 742.25 Td (ety Bonds and Real Estate Mortgages) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 724.25 Td (W) Tj ET Q q 0 0 0 rg BT 71.64 724.25 Td (e are generally required to provide various types of surety bonds that provide an additional measure of security under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 712.25 Td (certain public and private sector contracts. ) Tj ET Q q 0 0 0 rg BT 234.32 712.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.82 712.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.65 712.25 Td (, approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.91 712.25 Td ($3.5 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.02 712.25 Td ( of our contract backlog was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 700.25 Td (bonded. Performance bonds do not have stated expiration dates; rather) Tj ET Q q 0 0 0 rg BT 344.18 700.25 Td (, we are generally released from the bonds after the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 688.25 Td (owner accepts the work performed under contract. ) Tj ET Q q 0 0 0 rg BT 266.62 688.25 Td (The ability to maintain bonding capacity to support our current and future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 676.25 Td (level of contracting requires that we maintain cash and working capital balances satisfactory to our sureties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 658.25 Td (Our unconsolidated real estate held for development and sale is subject to mortgage indebtedness. ) Tj ET Q q 0 0 0 rg BT 456.87 658.25 Td (This indebtedness is non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 646.25 Td (recourse to Granite but is recourse to the real estate entity) Tj ET Q q 0 0 0 rg BT 292.81 646.25 Td (. ) Tj ET Q q 0 0 0 rg BT 297.63 646.25 Td (The terms of this indebtedness are typically renegotiated to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 634.25 Td (reflect the evolving nature of the real estate project as it progresses through acquisition, entitlement and development. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 622.25 Td (Modification of these terms may include changes in loan-to-value ratios requiring the real estate entity to repay portions of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 610.25 Td (the debt.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 592.25 Td (Covenants and Events of Default) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 574.25 Td (Our debt and credit agreements require us to comply with various af) Tj ET Q q 0 0 0 rg BT 335.79 574.25 Td (firmative, restrictive and financial covenants, including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 562.25 Td (the financial covenants described below) Tj ET Q q 0 0 0 rg BT 222.29 562.25 Td (. Our failure to comply with any of these covenants, or to pay principal, interest or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 550.25 Td (other amounts when due thereunder) Tj ET Q q 0 0 0 rg BT 205.89 550.25 Td (, would constitute an event of default under the applicable agreements. Under certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 538.25 Td (circumstances, the occurrence of an event of default under one of our debt or credit agreements \(or the acceleration of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 526.25 Td (maturity of the indebtedness under one of our agreements\) may constitute an event of default under one or more of our other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 514.25 Td (debt or credit agreements. Default under our debt and credit agreements could result in \(i\) us no longer being entitled to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 502.25 Td (borrow under the agreements; \(ii\) termination of the agreements; \(iii\) the requirement that any letters of credit under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 490.25 Td (agreements be cash collateralized; \(iv\) acceleration of the maturity of outstanding indebtedness under the agreements and/or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 478.25 Td (\(v\) foreclosure on any collateral securing the obligations under the agreements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 460.25 Td (The most significant financial covenants under the terms of our Credit ) Tj ET Q q 0 0 0 rg BT 345.98 460.25 Td (Agreement and 2019 NP) Tj ET Q q 0 0 0 rg BT 444.21 460.25 Td (A) Tj ET Q q 0 0 0 rg BT 450.88 460.25 Td ( require the maintenance of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 448.25 Td (a minimum Consolidated ) Tj ET Q q 0 0 0 rg BT 166.42 448.25 Td (T) Tj ET Q q 0 0 0 rg BT 171.83 448.25 Td (angible Net ) Tj ET Q q 0 0 0 rg BT 220.52 448.25 Td (W) Tj ET Q q 0 0 0 rg BT 229.16 448.25 Td (orth, a minimum Consolidated Interest Coverage Ratio and a maximum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 436.25 Td (Consolidated Leverage Ratio.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 418.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.44 418.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.27 418.25 Td ( and pursuant to the definitions in the agreements, our Consolidated ) Tj ET Q q 0 0 0 rg BT 416.37 418.25 Td (T) Tj ET Q q 0 0 0 rg BT 421.78 418.25 Td (angible Net ) Tj ET Q q 0 0 0 rg BT 470.47 418.25 Td (W) Tj ET Q q 0 0 0 rg BT 479.11 418.25 Td (orth was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.77 418.25 Td ($827.1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 406.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.89 406.25 Td (, which exceeded the minimum of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.46 406.25 Td ($671.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.35 406.25 Td ( and our Consolidated Leverage Ratio was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.80 406.25 Td (1.72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.30 406.25 Td (, which did not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 394.25 Td (exceed the maximum of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.85 394.25 Td (3.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.35 394.25 Td (. Our Consolidated Interest Coverage Ratio was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.20 394.25 Td (1) Tj ET Q q 0 0 0 rg BT 377.82 394.25 Td (1.1) Tj ET Q q 0 0 0 rg BT 389.95 394.25 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.95 394.25 Td (, which exceeded the minimum of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.52 394.25 Td (4.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.02 394.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 376.25 Td (As of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.44 376.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.27 376.25 Td (, we were in compliance with all covenants contained in the Credit ) Tj ET Q q 0 0 0 rg BT 411.80 376.25 Td (Agreement and related to the 2019 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 364.25 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 91.15 364.25 Td (W) Tj ET Q q 0 0 0 rg BT 99.79 364.25 Td (e are not aware of any non-compliance by any of our unconsolidated real estate entities with the covenants ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 352.25 Td (contained in their debt agreements. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 334.25 Td (Shar) Tj ET Q q 0 0 0 rg BT 83.38 334.25 Td (e Pur) Tj ET Q q 0 0 0 rg BT 106.25 334.25 Td (chase Pr) Tj ET Q q 0 0 0 rg BT 142.44 334.25 Td (ogram) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 316.25 Td (On October 24, 2007, we announced that our Board of Directors authorized us to purchase up to $200.0 million of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 304.25 Td (common stock at management) Tj ET Q q 0 0 0 rg BT 187.69 304.25 Td (s discretion. On ) Tj ET Q q 0 0 0 rg BT 252.68 304.25 Td (April 7, 2016, the Board of Directors authorized us to purchase up to $200.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 292.25 Td (million of our common stock at management) Tj ET Q q 0 0 0 rg BT 245.74 292.25 Td (s discretion, which replaced the former authorization including the amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 280.25 Td (available. ) Tj ET Q q 0 0 0 rg BT 103.91 280.25 Td (W) Tj ET Q q 0 0 0 rg BT 112.55 280.25 Td (e did not purchase shares under the share purchase program in any of the periods presented. ) Tj ET Q q 0 0 0 rg BT 481.40 280.25 Td (The specific timing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 268.25 Td (and amount of any future purchases will vary based on market conditions, securities law limitations and other factors.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 251.25 Td (W) Tj ET Q q 0 0 0 rg BT 72.45 251.25 Td (ebsite ) Tj ET Q q 0 0 0 rg BT 98.83 251.25 Td (Access) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 233.25 Td (Our website address is www) Tj ET Q q 0 0 0 rg BT 176.77 233.25 Td (.graniteconstruction.com. On our website we make available, free of char) Tj ET Q q 0 0 0 rg BT 470.08 233.25 Td (ge, our ) Tj ET Q q 0 0 0 rg BT 499.80 233.25 Td (Annual Report ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 221.25 Td (on Form 10-K, Quarterly Reports on Form 10-Q, current reports on Form 8-K, and all amendments to those reports as soon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 209.25 Td (as reasonably practicable after such material is electronically filed with or furnished to the Securities and Exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 197.25 Td (Commission \(SEC\). ) Tj ET Q q 0 0 0 rg BT 154.76 197.25 Td (The information on our website is not incorporated into, and is not part of, this report. ) Tj ET Q q 0 0 0 rg BT 500.34 197.25 Td (These reports, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 185.25 Td (and any amendments to them, are also available at the website of the SEC, www) Tj ET Q q 0 0 0 rg BT 384.48 185.25 Td (.sec.gov) Tj ET Q q 0 0 0 rg BT 416.60 185.25 Td (.) Tj ET Q endstream endobj 65 0 obj <>] /Rotate 0 /Contents 66 0 R>> endobj 66 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (32) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 742.25 Td (Item 3. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 742.25 Td (QUANTIT) Tj ET Q q 0 0 0 rg BT 108.93 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 115.41 742.25 Td (TIVE ) Tj ET Q q 0 0 0 rg BT 141.81 742.25 Td (AND QUALIT) Tj ET Q q 0 0 0 rg BT 204.69 742.25 Td (A) Tj ET Q q 0 0 0 rg BT 211.17 742.25 Td (TIVE DISCLOSURES ) Tj ET Q q 0 0 0 rg BT 310.65 742.25 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 346.03 742.25 Td ( MARKET) Tj ET Q q 0 0 0 rg BT 393.35 742.25 Td ( RISK) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 724.25 Td (There has been no significant change in our exposure to market risks since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.74 724.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.32 724.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 706.25 Td (Item ) Tj ET Q q 0 0 0 rg BT 49.49 706.25 Td (4. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 706.25 Td (CONTROLS ) Tj ET Q q 0 0 0 rg BT 121.07 706.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 145.24 706.25 Td (PROCEDURES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 688.25 Td (Evaluation ) Tj ET Q q 0 0 0 rg BT 112.18 688.25 Td (of ) Tj ET Q q 0 0 0 rg BT 123.01 688.25 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 162.83 688.25 Td (e ) Tj ET Q q 0 0 0 rg BT 169.77 688.25 Td (Contr) Tj ET Q q 0 0 0 rg BT 195.14 688.25 Td (ols ) Tj ET Q q 0 0 0 rg BT 209.31 688.25 Td (and ) Tj ET Q q 0 0 0 rg BT 227.93 688.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 238.30 688.25 Td (ocedur) Tj ET Q q 0 0 0 rg BT 267.56 688.25 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 670.25 Td (Our management carried out, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.33 670.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.16 670.25 Td (, with the participation of our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 457.42 670.25 Td (ficer and our Chief ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 658.25 Td (Financial Of) Tj ET Q q 0 0 0 rg BT 113.08 658.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 131.00 658.25 Td (, an evaluation of the ef) Tj ET Q q 0 0 0 rg BT 225.22 658.25 Td (fectiveness of our disclosure controls and procedures \(as defined in Rules 13a-15\(e\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 646.25 Td (and 15d-15\(e\) under the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 245.16 646.25 Td (Act of 1934, as amended \(the Exchange ) Tj ET Q q 0 0 0 rg BT 411.21 646.25 Td (Act\)\). Based on that evaluation, our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 634.25 Td (Chief Executive Of) Tj ET Q q 0 0 0 rg BT 140.57 634.25 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 253.12 634.25 Td (ficer concluded that, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.19 634.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.02 634.25 Td (, our disclosure controls and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 622.25 Td (procedures were ef) Tj ET Q q 0 0 0 rg BT 138.88 622.25 Td (fective to provide reasonable assurance that material information required to be disclosed by us in reports ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 610.25 Td (we file under the Exchange ) Tj ET Q q 0 0 0 rg BT 174.34 610.25 Td (Act is recorded, processed, summarized and reported within the time periods specified in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 598.25 Td (SEC rules and forms and that information required to be disclosed by us in the reports we file or submit under the Exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 586.25 Td (Act is accumulated and communicated to our management, including our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 436.31 586.25 Td (ficer and Chief Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 574.25 Td (Of) Tj ET Q q 0 0 0 rg BT 73.37 574.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 91.29 574.25 Td (, as appropriate to allow timely decisions regarding required disclosure.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 556.25 Td (During the quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.74 556.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.57 556.25 Td (, there were no changes to our internal control over financial reporting that have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 544.25 Td (materially af) Tj ET Q q 0 0 0 rg BT 113.63 544.25 Td (fected, or are reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 300.58 544.25 Td (fect, our internal control over financial reporting. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 526.25 Td (P) Tj ET Q q 0 0 0 rg BT 32.37 526.25 Td (AR) Tj ET Q q 0 0 0 rg BT 46.46 526.25 Td (T) Tj ET Q q 0 0 0 rg BT 52.95 526.25 Td ( ) Tj ET Q q 0 0 0 rg BT 55.45 526.25 Td (II. ) Tj ET Q q 0 0 0 rg BT 68.23 526.25 Td (OTHER ) Tj ET Q q 0 0 0 rg BT 106.85 526.25 Td (INFORMA) Tj ET Q q 0 0 0 rg BT 154.99 526.25 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 508.25 Td (Item 1. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 508.25 Td (LEGAL) Tj ET Q q 0 0 0 rg BT 97.46 508.25 Td ( PROCEEDINGS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 490.25 Td (Thedescription of the matters set forth inPart I, Item 1 of thisReport under Note 13 of Notes to the Condensed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 478.25 Td (Consolidated Financial Statements is incorporated herein by reference.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 460.25 Td (Item 1A. RISK F) Tj ET Q q 0 0 0 rg BT 99.03 460.25 Td (ACT) Tj ET Q q 0 0 0 rg BT 119.96 460.25 Td (ORS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 442.25 Td (There has been no material changes in the risk factors previously disclosed in Item 1A. Risk Factors in our ) Tj ET Q q 0 0 0 rg BT 500.66 442.25 Td (Annual Report ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 430.25 Td (on Form 10-K for the fiscal year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.84 430.25 Td (December31, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.42 430.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 412.25 Td (Item 2. UNREGISTERED SALES OF) Tj ET Q q 0 0 0 rg BT 192.21 412.25 Td ( EQUITY) Tj ET Q q 0 0 0 rg BT 233.79 412.25 Td ( SECURITIES ) Tj ET Q q 0 0 0 rg BT 298.82 412.25 Td (AND USE OF) Tj ET Q q 0 0 0 rg BT 358.46 412.25 Td ( PROCEEDS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 394.25 Td (The following table sets forth information regarding the repurchase of shares of our common stock during the three months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 382.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.38 382.25 Td (June30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.21 382.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 287.75 220.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 287.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.50 287.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.50 287.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 287.75 66.00 -13.00 re f /GS0 gs 0.8 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RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 287.75 m 426.5 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 371.75 m 491.5 371.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 287.75 m 491.5 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 371.75 m 495.5 371.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 287.75 m 495.5 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 371.75 m 558.5 371.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 287.75 m 558.5 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 371.75 m 562.5 371.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 287.75 m 562.5 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 287.75 m 283.5 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287.5 287.75 m 352.5 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 287.75 m 422.5 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 287.75 m 491.5 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 287.75 m 558.5 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 248.75 m 283.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 248.75 m 287.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287.5 248.75 m 352.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 248.75 m 356.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 248.75 m 422.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 248.75 m 426.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 248.75 m 491.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 248.75 m 495.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 248.75 m 558.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 248.75 m 562.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 236.75 m 283.5 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 63.5 234.75 m 283.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 236.75 m 287.5 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 234.75 m 287.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287.5 236.75 m 352.5 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287.5 234.75 m 352.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 236.75 m 356.5 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352.5 234.75 m 356.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 236.75 m 422.5 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 234.75 m 422.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 236.75 m 426.5 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 234.75 m 426.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 236.75 m 491.5 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 234.75 m 491.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 236.75 m 495.5 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 234.75 m 495.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 236.75 m 558.5 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 234.75 m 558.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 236.75 m 562.5 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 558.5 234.75 m 562.5 234.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.00 292.43 Td (Period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.00 292.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.45 312.43 Td (T) Tj ET Q q 0 0 0 rg BT 296.20 312.43 Td (otal number) Tj ET Q q 0 0 0 rg BT 348.52 312.43 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.55 302.43 Td (of shar) Tj ET Q q 0 0 0 rg BT 330.09 302.43 Td (es ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.70 292.43 Td (pur) Tj ET Q q 0 0 0 rg BT 311.08 292.43 Td (chased) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 339.97 296.96 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.00 292.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.50 312.43 Td (Average price) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.15 302.43 Td (paid per) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.40 292.43 Td (share) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.00 292.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.45 362.43 Td (Total number) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.55 352.43 Td (of shares) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.65 342.43 Td (purchased as) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.90 332.43 Td (part of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.25 322.43 Td (publicly) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.15 312.43 Td (announced) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.20 302.43 Td (plans or) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.75 292.43 Td (programs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.00 292.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.25 362.43 Td (Appr) Tj ET Q q 0 0 0 rg BT 520.85 362.43 Td (oximate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 352.43 Td (dollar) Tj ET Q q 0 0 0 rg BT 526.53 352.43 Td ( value ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.55 342.43 Td (of shar) Tj ET Q q 0 0 0 rg BT 537.09 342.43 Td (es ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.80 332.43 Td (that may yet ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.10 322.43 Td (be pur) Tj ET Q q 0 0 0 rg BT 525.98 322.43 Td (chased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.85 312.43 Td (under) Tj ET Q q 0 0 0 rg BT 531.23 312.43 Td ( the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.20 302.43 Td (plans or) Tj ET Q q 0 0 0 rg BT 543.75 302.43 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.10 292.43 Td (pr) Tj ET Q q 0 0 0 rg BT 513.92 292.43 Td (ograms) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 545.58 296.96 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.00 292.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 278.32 Td (April 1, 2016 through ) Tj ET Q q 0 0 0 rg BT 161.17 278.32 Td (April 30, 2016) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 219.77 282.85 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.00 278.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 278.32 Td (5,583) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.00 278.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 278.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 278.32 Td (46.69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 278.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 278.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 278.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 278.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.60 278.32 Td (200,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.00 278.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 265.32 Td (May 1, 2016 through May 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.00 265.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 265.32 Td (2,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.00 265.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 265.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 265.32 Td (43.61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 265.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 265.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 265.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 265.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.60 265.32 Td (200,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.00 265.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 252.32 Td (June 1, 2016 through June 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.00 252.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 252.32 Td (624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.00 252.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 252.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 252.32 Td (43.22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 252.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 252.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 252.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 252.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.60 252.32 Td (200,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.00 252.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.00 239.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.00 239.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.15 239.32 Td (8,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.00 239.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 239.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.15 239.32 Td (45.60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.00 239.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 239.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 239.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.00 239.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.00 239.32 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 63.00 223.53 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.92 219.45 Td (The number of shares purchased is in connection with employee tax withholding for units vested under our 2012 Equity Incentive Plan.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 63.00 212.73 Td (2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.92 208.65 Td (On October 24, 2007, we announced that our Board of Directors authorized us to purchase up to $200.0 million of our common stock at ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.00 197.85 Td (management) Tj ET Q q 0 0 0 rg BT 111.48 197.85 Td (s discretion. Until ) Tj ET Q q 0 0 0 rg BT 177.48 197.85 Td (April 7, 2016, we had $64.1 million remaining to be purchased under this plan. On ) Tj ET Q q 0 0 0 rg BT 477.18 197.85 Td (April 7, 2016, the ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.00 187.05 Td (Board of Directors authorized us to purchase up to $200.0 million of our common stock at management) Tj ET Q q 0 0 0 rg BT 438.66 187.05 Td (s discretion, which replaced the ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.00 176.25 Td (former authorization including the amount available. ) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 63.00 169.53 Td (3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.92 165.45 Td (W) Tj ET Q q 0 0 0 rg BT 73.70 165.45 Td (e did not purchase shares under the share purchase plan in any of the periods presented. ) Tj ET Q q 0 0 0 rg BT 390.68 165.45 Td (The specific timing and amount of any future ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.00 154.65 Td (purchases will vary based on market conditions, securities law limitations and other factors.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 136.65 Td (Item 4. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 136.65 Td (MINE SAFETY) Tj ET Q q 0 0 0 rg BT 131.80 136.65 Td ( DISCLOSURES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 118.65 Td (The information concerning mine safety violations or other regulatory matters required by Section 1503\(a\) of the Dodd-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 106.65 Td (Frank ) Tj ET Q q 0 0 0 rg BT 88.65 106.65 Td (W) Tj ET Q q 0 0 0 rg BT 97.29 106.65 Td (all Street Reform and Consumer Protection ) Tj ET Q q 0 0 0 rg BT 272.25 106.65 Td (Act and Item 104 of Regulation S-K \(17CFR 229.104\) is included in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 94.65 Td (Exhibit 95 to this Quarterly Report on Form 10-Q.) Tj ET Q endstream endobj 67 0 obj <>] /Rotate 0 /Contents 68 0 R>> endobj 68 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (33) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48.5 28.100000000000023 m 176.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176.5 28.100000000000023 m 304.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 28.100000000000023 m 432.5 28.100000000000023 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 28.100000000000023 m 560.5 28.100000000000023 l s BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 27.00 742.25 Td (Item 6. 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gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 149 700.9833984375 m 319.869140625 700.9833984375 l s q 0 0 1 rg BT 149.00 702.32 Td (Certification of Principal Financial Of) Tj ET Q q 0 0 1 rg BT 301.55 702.32 Td (ficer) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 109 686.9833984375 m 119 686.9833984375 l s q 0 0 1 rg BT 109.00 688.32 Td (32) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.00 688.32 Td () Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 149 686.9833984375 m 547.125 686.9833984375 l s q 0 0 1 rg BT 149.00 688.32 Td (Certification of Chief Executive Of) Tj ET Q q 0 0 1 rg BT 290.44 688.32 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 1 rg BT 402.99 688.32 Td (ficer Pursuant to Section 906 of the ) Tj ET Q BT /F1 10.00 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