CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 28, 2020	Dec. 28, 2019
Current assets:
Cash and cash equivalents	$ 294,645	$ 353,542
Receivables, net	492,785	480,000
Inventories	416,613	418,370
Contract asset - costs and profits in excess of billings	144,777	141,322
Prepaid expenses and other assets	63,306	32,043
Refundable income taxes	2,300	6,947
Total current assets	1,414,426	1,432,224
Property, plant and equipment, at cost	1,237,895	1,245,261
Less accumulated depreciation and amortization	683,914	687,132
Net property, plant and equipment	553,981	558,129
Goodwill	422,514	428,864
Other intangible assets, net	173,006	175,742
Other assets	193,652	212,257
Total assets	2,757,579	2,807,216
Current liabilities:
Current installments of long-term debt	757	760
Notes payable to banks	19,719	21,774
Accounts payable	209,132	197,957
Accrued employee compensation and benefits	70,731	83,528
Contract liability - billings in excess of costs and earnings	151,034	117,945
Other accrued expenses	100,213	83,736
Dividends payable	9,625	8,079
Total current liabilities	561,211	513,779
Deferred income taxes	65,053	58,906
Long-term debt, excluding current installments	776,139	764,944
Defined benefit pension liability	114,359	140,007
Operating lease liabilities	78,694	85,817
Deferred compensation	42,894	45,114
Other noncurrent liabilities	9,099	8,904
Shareholders’ equity:
Authorized 75,000,000 shares; 27,900,000 issued	27,900	27,900
Retained earnings	2,171,329	2,173,802
Accumulated other comprehensive loss	(347,868)	(313,422)
Treasury stock	(763,950)	(743,942)
Total Valmont Industries, Inc. shareholders’ equity	1,087,411	1,144,338
Noncontrolling interest in consolidated subsidiaries	22,719	45,407
Total shareholders’ equity	1,110,130	1,189,745
Total liabilities and shareholders’ equity	$ 2,757,579	$ 2,807,216