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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 29, 2019
Accounting Policies [Abstract]  
Components of inventories
Inventories consisted of the following:
 
June 29,
2019
 
December 29,
2018
Raw materials and purchased parts
$
192,045

 
$
190,115

Work-in-process
40,847

 
35,566

Finished goods and manufactured goods
224,534

 
211,504

Subtotal
457,426

 
437,185

Less: LIFO reserve
50,880

 
53,619

 
$
406,546

 
$
383,566
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries
Earnings before income taxes for the thirteen and twenty-six weeks ended June 29, 2019 and June 30, 2018, were as follows:    
 
Thirteen Weeks Ended
 
Twenty-six Weeks Ended
 
2019
 
2018
 
2019
 
2018
United States
$
47,269

 
$
42,336

 
$
89,520

 
$
84,101

Foreign
9,038

 
6,749

 
16,669

 
17,996

 
$
56,307

 
$
49,085

 
$
106,189

 
$
102,097
Schedule of components of the net periodic pension (benefit) expense
The components of the net periodic pension (benefit) expense for the thirteen and twenty-six weeks ended June 29, 2019 and June 30, 2018 were as follows:
 
Thirteen Weeks Ended
 
Twenty-six Weeks Ended
Net periodic (benefit) expense:
2019
 
2018
 
2019
 
2018
Interest cost
$
4,182

 
$
4,486

 
$
8,527

 
$
9,202

Expected return on plan assets
(4,943
)
 
(5,815
)
 
(10,078
)
 
(11,929
)
Amortization of actuarial loss
634

 
764

 
1,292

 
1,568

Net periodic expense (benefit)
$
(127
)
 
$
(565
)
 
$
(259
)
 
$
(1,159
)
Compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options
The Company's compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options and restricted stock for the thirteen and twenty-six weeks ended June 29, 2019 and June 30, 2018, respectively, were as follows:
(1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
 
Thirteen Weeks Ended
 
Twenty-six Weeks Ended
 
2019
 
2018
 
2019
 
2018
Compensation expense
$
2,700

 
$
2,599

 
$
6,370

 
$
5,374

Income tax benefits
675

 
650

 
1,593

 
1,344
Valuation methodologies used for assets and liabilities measured at fair value
 
 
 
Fair Value Measurement Using:
 
Carrying Value June 29, 2019
 
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
 
Significant Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Trading Securities
$
41,956

 
$
41,956

 
$
—

 
$
—

Derivative financial instruments, net
(3,213
)
 
—

 
(3,213
)
 
—

 
 
 
Fair Value Measurement Using:
 
Carrying Value December 29, 2018
 
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
 
Significant Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Trading Securities
$
40,024

 
$
40,024

 
$
—

 
$
—

Derivative financial instruments, net
9,147

 
—

 
9,147

 
—
Components of accumulated other comprehensive income (loss) Accumulated other comprehensive income (loss) consisted of the following at June 29, 2019 and December 29, 2018:
 
Foreign Currency Translation Adjustments
 
Gain/(Loss) on Hedging Activities
 
Defined Benefit Pension Plan
 
Accumulated Other Comprehensive Loss
Balance at December 29, 2018
$
(230,261
)
 
$
11,171

 
$
(84,095
)
 
$
(303,185
)
Current-period comprehensive income (loss)
3,146

 
(3,033
)
 
—

 
113

Balance at June 29, 2019
$
(227,115
)
 
$
8,138

 
$
(84,095
)
 
$
(303,072
)
Disaggregation of Revenue
Disaggregation of revenue by product line is disclosed in the Segment footnote. A breakdown by segment of revenue recognized over time and at a point in time for the thirteen and twenty-six weeks ended June 29, 2019 and June 30, 2018 is as follows:
 
Point in Time
 
Over Time
 
Point in Time
 
Over Time
 
Thirteen weeks ended June 29, 2019
 
Thirteen weeks ended June 29, 2019
 
Twenty-six weeks ended June 29, 2019
 
Twenty-six weeks ended June 29, 2019
Utility Support Structures
$
9,932

 
$
199,077

 
$
40,224

 
$
412,043

Engineered Support Structures
244,604

 
12,961

 
461,074

 
24,460

Coatings
81,089

 
—

 
151,320

 
—

Irrigation
149,956

 
3,252

 
297,814

 
6,075

  Total
$
485,581

 
$
215,290

 
$
950,432

 
$
442,578


 
Point in Time
 
Over Time
 
Point in Time
 
Over Time
 
Thirteen weeks ended June 30, 2018
 
Thirteen weeks ended June 30, 2018
 
Twenty-six weeks ended June 30, 2018
 
Twenty-six weeks ended June 30, 2018
Utility Support Structures
$
—

 
$
196,531

 
$
—

 
$
406,390

Engineered Support Structures
237,720

 
8,321

 
444,914

 
17,043

Coatings
74,539

 
—

 
142,997

 
—

Irrigation
157,800

 
2,813

 
341,034

 
5,631

Other
4,681

 
—

 
23,080

 
—

  Total
$
474,740

 
$
207,665

 
$
952,025

 
$
429,064