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CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
$ in Thousands
12 Months Ended
Dec. 26, 2020
Dec. 28, 2019
Dec. 29, 2018
Net sales $ 2,895,355 $ 2,766,976 $ 2,757,144
Total cost of sales 2,129,841 2,084,295 2,088,972
Gross profit 765,514 682,681 668,172
Selling, general and administrative expenses 522,923 454,776 440,220
Impairment of goodwill and intangible assets 16,638 0 15,780
Operating income 225,953 227,905 212,172
Other income (expenses):      
Interest expense (41,075) (40,153) (44,237)
Interest income 2,374 3,942 4,668
Gain (loss) on investments - unrealized 2,443 5,960 (839)
Costs associated with refinancing of debt 0 0 (14,820)
Loss from divestiture of grinding media business 0 0 (6,084)
Other 3,073 2,204 2,473
Total other income (expenses) (33,185) (28,047) (58,839)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 192,768 199,858 153,333
Income tax expense (benefit):      
Current 51,012 46,267 44,794
Deferred (1,397) 1,486 814
Total income tax expense (benefit) 49,615 47,753 45,608
Earnings before equity in earnings of nonconsolidated subsidiaries 143,153 152,105 107,725
Equity in earnings (loss) of nonconsolidated subsidiaries (1,004) 0 0
Net earnings 142,149 152,105 107,725
Less: Earnings attributable to noncontrolling interests (1,456) (5,697) (5,955)
Net earnings attributable to Valmont Industries, Inc. $ 140,693 $ 146,408 $ 101,770
Earnings per share:      
Basic (in dollars per share) $ 6.60 $ 6.76 $ 4.56
Diluted (in dollars per share) $ 6.57 $ 6.73 $ 4.53
Product      
Net sales $ 2,594,855 $ 2,434,190 $ 2,437,334
Total cost of sales 1,936,024 1,863,780 1,878,067
Service      
Net sales 300,500 332,786 319,810
Total cost of sales $ 193,817 $ 220,515 $ 210,905