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CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
$ in Thousands
12 Months Ended
Dec. 28, 2019
Dec. 29, 2018
Dec. 30, 2017
Net sales $ 2,766,976 $ 2,757,144 $ 2,745,967
Total cost of sales 2,074,480 2,098,864 2,064,199
Gross profit 692,496 658,280 681,768
Selling, general and administrative expenses 454,776 440,220 414,688
Impairment of goodwill and intangible assets 0 15,780 0
Operating income 237,720 202,280 267,080
Other income (expenses):      
Interest expense (40,153) (44,237) (44,645)
Interest income 3,942 4,668 4,737
Gain (loss) on investments - unrealized 5,960 (839) 3,863
Costs associated with refinancing of debt 0 (14,820) 0
Loss from divestiture of grinding media business 0 (6,084) 0
Other 2,204 2,473 (2,571)
Total other income (expenses) (28,047) (58,839) (38,616)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 209,673 143,441 228,464
Income tax expense (benefit):      
Current 46,267 44,794 66,390
Deferred 3,940 (1,659) 39,755
Total income tax expense (benefit) 50,207 43,135 106,145
Net earnings 159,466 100,306 122,319
Less: Earnings attributable to noncontrolling interests (5,697) (5,955) (6,079)
Net earnings attributable to Valmont Industries, Inc. $ 153,769 $ 94,351 $ 116,240
Earnings per share:      
Basic (in dollars per share) $ 7.10 $ 4.23 $ 5.16
Diluted (in dollars per share) $ 7.06 $ 4.20 $ 5.11
Product      
Net sales $ 2,434,190 $ 2,437,334 $ 2,447,219
Total cost of sales 1,853,965 1,887,959 1,860,087
Service      
Net sales 332,786 319,810 298,748
Total cost of sales $ 220,515 $ 210,905 $ 204,112