EARNINGS PER SHARE

12 Months Ended

Dec. 28, 2019

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


	Basic EPS		Dilutive Effect of Stock Options		Diluted EPS
2021:
Net earnings attributable to Valmont Industries, Inc.	$	195,630	$	—	$	195,630
Weighted average shares outstanding (000's)	21,193		300		21,493
Per share amount	$	9.23	$	0.13	$	9.10
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

Basic and diluted net earnings and earnings per share in fiscal 2021 was impacted by impairments of long-lived assets (customer relationship intangible asset, trade name, and property, plant and equipment) associated with the Offshore and other complex steel structures reporting unit of $21,678 after-tax ($1.01 per share) and a valuation allowance against the deferred tax assets of the Offshore and other complex steel structures reporting unit of $5,076 after-tax ($0.24 per share). 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).

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 2021, 2020, and 2019 there were 47,223, 0, and 130,704 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.