CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 25, 2021	Dec. 26, 2020
Current assets:
Cash and cash equivalents	$ 177,232	$ 400,726
Receivables, less allowance of $18,050 in 2021 and $15,952 in 2020	571,593	511,714
Inventories	728,834	448,941
Contract asset - costs and profits in excess of billings	142,643	123,495
Prepaid expenses and other assets	83,646	59,804
Refundable income taxes	8,815	9,945
Total current assets	1,712,763	1,554,625
Property, plant and equipment, at cost	1,422,101	1,341,380
Less accumulated depreciation and amortization	823,496	743,653
Net property, plant and equipment	598,605	597,727
Goodwill	708,566	430,322
Other intangible assets, net	175,364	167,193
Other assets	251,951	203,293
Total assets	3,447,249	2,953,160
Current liabilities:
Current installments of long-term debt	4,884	2,748
Notes payable to banks	13,439	35,147
Accounts payable	347,841	268,099
Accrued employee compensation and benefits	144,559	137,939
Contract liabilities	135,746	130,018
Other accrued expenses	108,771	89,796
Dividends payable	10,616	9,556
Total current liabilities	765,856	673,303
Deferred income taxes	47,849	41,689
Long-term debt, excluding current installments	947,072	728,431
Defined benefit pension liability	536	118,523
Operating lease liabilities	147,759	80,202
Deferred compensation	35,373	44,519
Other noncurrent liabilities	89,207	58,657
Shareholders’ equity:
Authorized 75,000,000 shares; 27,900,000 issued	27,900	27,900
Additional paid-in capital	1,479	335
Retained earnings	2,394,307	2,245,035
Accumulated other comprehensive loss	(263,127)	(309,786)
Cost of treasury stock, common shares of 6,619,860 in 2021 and 6,674,866 in 2020	(773,712)	(781,422)
Total Valmont Industries, Inc. shareholders’ equity	1,386,847	1,182,062
Noncontrolling interest in consolidated subsidiaries	26,750	25,774
Total shareholders’ equity	1,413,597	1,207,836
Total liabilities and shareholders’ equity	$ 3,447,249	$ 2,953,160