EARNINGS PER SHARE

12 Months Ended

Dec. 29, 2018

The following table provides a reconciliation between Basic and Diluted earnings per share (EPS):


	Basic EPS		Dilutive Effect of Stock Options		Diluted EPS
2020:
Net earnings attributable to Valmont Industries, Inc.	$	140,693	$	—	$	140,693
Weighted average shares outstanding (000's)	21,315		110		21,425
Per share amount	$	6.60	$	0.03	$	6.57
2019:
Net earnings attributable to Valmont Industries, Inc.	$	146,408	$	—	$	146,408
Weighted average shares outstanding (000's)	21,659		110		21,769
Per share amount	$	6.76	$	0.03	$	6.73
2018:
Net earnings attributable to Valmont Industries, Inc.	$	101,770	$	—	$	101,770
Weighted average shares outstanding (000's)	22,306		140		22,446
Per share amount	$	4.56	$	0.03	$	4.53

Basic and diluted net earnings and earnings per share in fiscal 2020 was impacted by impairments of goodwill and intangible assets in fiscal 2020 of $16,220 after-tax ($0.76 per share) and restructuring expenses of $17,324 after-tax ($0.81 per share). Basic and diluted net earnings and earnings per share in fiscal 2018 was impacted by impairments of goodwill and intangible assets of $14,736 after-tax ($0.66 per share), restructuring expenses and non-recurring asset impairments arising from exiting certain local markets of $37,779 after-tax ($1.68 per share), refinancing of long-term debt expenses of $11,115 after-tax ($0.50 per share), and a loss from the divestiture of the grinding media business of $5,350 after-tax ($0.24 per share).

Earnings per share are computed independently for each of the quarters. Therefore, the sum of the quarterly earnings per share may not equal the total for the year.

At the end of fiscal years 2020, 2019, and 2018 there were 0, 130,704, and 406,806 outstanding stock options, respectively, with exercise prices exceeding the market price of common stock that were excluded from the computation of diluted earnings per share, respectively.