XML 12 R2.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jul. 01, 2017
Jun. 25, 2016
Jul. 01, 2017
Jun. 25, 2016
Income Statement [Abstract]        
Product sales $ 632,507 $ 570,762 $ 1,205,459 $ 1,103,702
Services sales 80,230 69,487 144,751 133,152
Net sales 712,737 640,249 1,350,210 1,236,854
Product cost of sales 477,174 418,072 904,021 811,564
Services cost of sales 52,283 47,060 98,304 89,204
Total cost of sales 529,457 465,132 1,002,325 900,768
Gross profit 183,280 175,117 347,885 336,086
Selling, general and administrative expenses 104,990 103,311 205,093 201,915
Operating income 78,290 71,806 142,792 134,171
Other income (expenses):        
Interest expense (10,818) (11,122) (22,122) (22,176)
Interest income 967 707 1,894 1,518
Other (32) 1,252 1,167 (426)
Total other income (expenses) (9,883) (9,163) (19,061) (21,084)
Earnings before income taxes 68,407 62,643 123,731 113,087
Income tax expense:        
Current 27,803 22,745 29,101 33,259
Deferred (6,718) (3,544) 7,347 2,215
Total income tax expense (benefit) 21,085 19,201 36,448 35,474
Earnings before equity in earnings of nonconsolidated subsidiaries 47,322 43,442 87,283 77,613
Equity in earnings of nonconsolidated subsidiaries 0 0 0 0
Net earnings 47,322 43,442 87,283 77,613
Less: Earnings attributable to noncontrolling interests (1,658) (1,416) (2,640) (2,618)
Net earnings attributable to Valmont Industries, Inc. $ 45,664 $ 42,026 $ 84,643 $ 74,995
Earnings per share:        
Basic (in dollars per share) $ 2.03 $ 1.86 $ 3.76 $ 3.31
Diluted (in dollars per share) 2.01 1.85 3.73 3.29
Cash dividends declared per share (in dollars per share) $ 0.375 $ 0.375 $ 0.75 $ 0.75
Weighted average number of shares of common stock outstanding - Basic (in shares) 22,517 22,602 22,494 22,651
Weighted average number of shares of common stock outstanding - Diluted (in shares) 22,740 22,749 22,700 22,782