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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 25, 2021
Accounting Policies [Abstract]  
Components of inventories Inventories consisted of the following:
September 25,
2021
December 26,
2020
Raw materials and purchased parts
$209,090 $155,512 
Work-in-process
45,213 33,632 
Finished goods and manufactured goods
401,600 259,797 
Total Inventory$655,903 $448,941 
Earnings before income taxes Earnings before income taxes for the thirteen and thirty-nine weeks ended September 25, 2021 and September 26, 2020, were as follows:    
Thirteen weeks endedThirty-nine weeks ended
2021202020212020
United States$47,784 $33,610 $156,028 $141,347 
Foreign20,909 18,978 61,284 4,283 
$68,693 $52,588 $217,312 $145,630 
Schedule of components of the net periodic pension (benefit) expense The components of the net periodic pension (benefit) expense for the thirteen and thirty-nine weeks ended September 25, 2021 and September 26, 2020 were as follows:
Thirteen weeks endedThirty-nine weeks ended
Net periodic (benefit) expense:2021202020212020
Interest cost
$2,479 $3,285 $7,508 $9,569 
Expected return on plan assets
(6,957)(5,887)(21,061)(17,149)
Amortization of actuarial loss
827 748 2,502 2,179 
Net periodic (benefit) expense
$(3,651)$(1,854)$(11,051)$(5,401)
Compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options The Company's compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options and restricted stock for the thirteen and thirty-nine weeks ended September 25, 2021 and September 26, 2020, respectively, were as follows:
Thirteen weeks endedThirty-nine weeks ended
2021202020212020
Compensation expense
$8,947 $3,065 $17,895 $8,736 
Income tax benefits
2,237 766 4,474 2,184 
During the third quarter of 2021, the Company granted approximately 143,859 restricted shares, worth approximately $38,000, to certain employees of Prospera Technologies, Ltd. ("Prospera"). These restricted shares vest in equal installments over four years, and require the employees to continue employment over those four years. As such, the related compensation expense will be incurred over the vesting period.
Valuation methodologies used for assets and liabilities measured at fair value
Fair Value Measurement Using:
Carrying Value September 25, 2021Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Assets:
Trading Securities
$29,580 $29,580 $— $— 
Derivative financial instruments, net
7,001 — 7,001 — 
Fair Value Measurement Using:
Carrying Value December 26, 2020Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Assets:
Trading Securities
$35,327 $35,327 $— $— 
Liabilities:
Derivative financial instruments, net
(5,911)— (5,911)— 
Components of accumulated other comprehensive income (loss) Accumulated other comprehensive income (loss) consisted of the following at September 25, 2021 and December 26, 2020:
Foreign Currency Translation AdjustmentsGain on Hedging ActivitiesDefined Benefit Pension PlanAccumulated Other Comprehensive Loss
Balance at December 26, 2020$(213,064)$15,550 $(112,272)$(309,786)
   Current-period comprehensive income (loss)(16,643)14,369 1,838 (436)
Balance at September 25, 2021$(229,707)$29,919 $(110,434)$(310,222)
Disaggregation of revenue A breakdown by segment of revenue recognized over time and at a point in time for the thirteen and thirty-nine weeks ended September 25, 2021 and September 26, 2020 is as follows:
Point in TimeOver TimePoint in TimeOver Time
Thirteen weeks ended September 25, 2021Thirteen weeks ended September 25, 2021Thirty-nine weeks ended September 25, 2021Thirty-nine weeks ended September 25, 2021
Utility Support Structures$12,834 $263,668 $28,255 $768,808 
Engineered Support Structures
271,277 9,772 745,125 27,420 
Coatings
74,906 — 224,102 — 
Irrigation
230,273 6,052 729,813 14,774 
  Total
$589,290 $279,492 $1,727,295 $811,002 
Point in TimeOver TimePoint in TimeOver Time
Thirteen weeks ended September 26, 2020Thirteen weeks ended September 26, 2020Thirty-nine weeks ended September 26, 2020Thirty-nine weeks ended September 26, 2020
Utility Support Structures$43,287 $229,192 $56,830 $667,070 
Engineered Support Structures
244,785 10,160 697,491 33,693 
Coatings
68,698 — 199,955 — 
Irrigation
133,999 3,849 430,729 11,210 
  Total
$490,769 $243,201 $1,385,005 $711,973