EARNINGS PER SHARE

12 Months Ended

Dec. 26, 2015

The following table provides a reconciliation between Basic and Diluted earnings per share (EPS):



	Basic EPS		Dilutive Effect of Stock Options		Diluted EPS
2015:
Net earnings attributable to Valmont Industries, Inc.	$	40,117	$	—	$	40,117
Weighted average shares outstanding (000's)	23,288		117		23,405
Per share amount	$	1.72	$	0.01	$	1.71
2014:
Net earnings attributable to Valmont Industries, Inc.	$	183,976	$	—	$	183,976
Weighted average shares outstanding (000's)	25,719		213		25,932
Per share amount	$	7.15	$	0.06	$	7.09
2013:
Net earnings attributable to Valmont Industries, Inc.	$	278,489	$	—	$	278,489
Weighted average shares outstanding (000's)	26,641		258		26,899
Per share amount	$	10.45	$	0.10	$	10.35

Basic and diluted net earnings and earnings per share in fiscal 2015 included impairments of goodwill and intangible assets of $40,140 after-tax ($1.72 per share), asset impairments arising from restructuring activities of $14,545 after-tax ($0.62 per share), and $13,622 of cash restructuring expenses ($0.58 per share). Fiscal 2014 included costs associated with refinancing of our long-term debt of $24.2 million after tax ($0.93 per share). Fiscal 2013 included a non-cash after-tax loss of $12,011 ($0.45 per share) associated with the deconsolidation of Delta EMD Pty. Ltd. (EMD) and a non-cash after-tax loss of $4,569 ($0.17 per share) related to a fixed asset impairment loss recorded by EMD in the fourth quarter of 2013.

Earnings per share are computed independently for each of the quarters. Therefore, the sum of the quarterly earnings per share may not equal the total for the year primarily due to the share buyback program that began in the second quarter of 2014.

At the end of fiscal years 2015, 2014, and 2013 there were approximately 426,338, 449,000, and 1,200 outstanding stock options, respectively, with exercise prices exceeding the market price of common stock that were excluded from the computation of diluted earnings per share, respectively.