CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 28, 2019	Dec. 29, 2018
Current assets:
Cash and cash equivalents	$ 353,542	$ 313,210
Receivables, less allowance of $9,548 in 2019 and $8,277 in 2018	480,000	483,963
Inventories	374,565	383,566
Contract asset - costs and profits in excess of billings	141,322	112,525
Prepaid expenses, restricted cash, and other assets	32,043	42,800
Refundable income taxes	6,947	4,576
Total current assets	1,388,419	1,340,640
Property, plant and equipment, at cost	1,245,261	1,160,865
Less accumulated depreciation and amortization	687,132	646,873
Net property, plant and equipment	558,129	513,992
Goodwill	428,864	385,207
Other intangible assets, net	175,742	175,956
Other assets	212,257	114,479
Total assets	2,763,411	2,530,274
Current liabilities:
Current installments of long-term debt	760	779
Notes payable to banks	21,774	10,678
Accounts payable	197,957	218,115
Accrued employee compensation and benefits	83,528	79,291
Accrued expenses	201,681	91,942
Dividends payable	8,079	8,230
Total current liabilities	513,779	409,035
Deferred income taxes	47,955	43,489
Long-term debt, excluding current installments	764,944	741,822
Defined benefit pension liability	140,007	143,904
Operating lease liabilities	85,817	0
Deferred compensation	45,114	46,107
Other noncurrent liabilities	8,904	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
Additional paid-in capital	0	0
Retained earnings	2,140,948	2,027,596
Accumulated other comprehensive income (loss)	(313,422)	(303,185)
Cost of treasury stock, common shares of 6,356,103 in 2019 and 5,951,971 in 2018	(743,942)	(692,549)
Total Valmont Industries, Inc. shareholders’ equity	1,111,484	1,059,762
Noncontrolling interest in consolidated subsidiaries	45,407	75,761
Total shareholders’ equity	1,156,891	1,135,523
Total liabilities and shareholders’ equity	$ 2,763,411	$ 2,530,274