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CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 28, 2019
Sep. 29, 2018
Sep. 28, 2019
Sep. 29, 2018
Document Period End Date     Sep. 28, 2019  
Net sales $ 690,340 $ 678,692 $ 2,083,350 $ 2,059,781
Total cost of sales 514,254 514,352 1,561,721 1,551,202
Gross profit 176,086 164,340 521,629 508,579
Selling, general and administrative expenses 112,223 110,200 338,950 326,809
Impairment of goodwill and intangible assets 0 15,780 0 15,780
Operating income 63,863 38,360 182,679 165,990
Other income (expenses):        
Interest expense (9,976) (10,954) (29,971) (33,819)
Interest income 969 1,000 2,815 3,713
Gain on investments (unrealized) 402 1,068 4,754 1,146
Costs associated with refinancing of debt 0 14,820 0 14,820
Loss from divestiture of grinding media business 0 0 0 (6,084)
Other 768 1,428 1,938 2,053
Total other income (expenses) (7,837) (22,278) (20,464) (47,811)
Earnings before income taxes 56,026 16,082 162,215 118,179
Income tax expense (benefit):        
Current 12,375 10,777 33,053 35,214
Deferred 1,388 (1,686) 7,098 814
Total income tax expense (benefit) 13,763 9,091 40,151 36,028
Net earnings 42,263 6,991 122,064 82,151
Less: Earnings attributable to noncontrolling interests (2,119) (2,543) (4,042) (5,462)
Net earnings attributable to Valmont Industries, Inc. $ 40,144 $ 4,448 $ 118,022 $ 76,689
Earnings per share:        
Basic (in dollars per share) $ 1.86 $ 0.20 $ 5.43 $ 3.42
Diluted (in dollars per share) $ 1.85 $ 0.20 $ 5.41 $ 3.40
Product sales        
Net sales $ 605,439 $ 597,469 $ 1,829,919 $ 1,816,597
Total cost of sales 457,750 460,547 1,393,236 1,389,832
Services sales        
Net sales 84,901 81,223 253,431 243,184
Total cost of sales $ 56,504 $ 53,805 $ 168,485 $ 161,370