CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018
Current assets:
Cash and cash equivalents	$ 256,944	$ 313,210
Receivables, net	507,061	483,963
Inventories	406,546	383,566
Contract asset - costs and profits in excess of billings	123,926	112,525
Prepaid expenses and other assets	44,942	42,800
Refundable income taxes	8,579	4,576
Total current assets	1,347,998	1,340,640
Property, plant and equipment, at cost	1,225,838	1,160,865
Less accumulated depreciation and amortization	682,281	646,873
Net property, plant and equipment	543,557	513,992
Goodwill	424,188	385,207
Other intangible assets, net	189,014	175,956
Other assets	206,982	114,479
Total assets	2,711,739	2,530,274
Current liabilities:
Current installments of long-term debt	774	779
Notes payable to banks	20,375	10,678
Accounts payable	228,137	218,115
Accrued employee compensation and benefits	65,723	79,291
Accrued expenses	174,163	91,942
Dividends payable	8,129	8,230
Total current liabilities	497,301	409,035
Deferred income taxes	43,774	43,489
Long-term debt, excluding current installments	765,558	741,822
Defined benefit pension liability	130,210	143,904
Operating lease liabilities	85,176	0
Deferred compensation	49,445	46,107
Other noncurrent liabilities	13,261	10,394
Shareholders’ equity:
Preferred stock of $1 par value - Authorized 500,000 shares; none issued	0	0
Common stock of $1 par value - Authorized 75,000,000 shares; issued 27,900,000 issued	27,900	27,900
Retained earnings	2,085,594	2,027,596
Accumulated other comprehensive loss	(303,072)	(303,185)
Treasury stock	(728,680)	(692,549)
Total Valmont Industries, Inc. shareholders’ equity	1,081,742	1,059,762
Noncontrolling interest in consolidated subsidiaries	45,272	75,761
Total shareholders’ equity	1,127,014	1,135,523
Total liabilities and shareholders’ equity	$ 2,711,739	$ 2,530,274