XML 11 R2.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
$ in Thousands
3 Months Ended
Mar. 26, 2022
Mar. 27, 2021
Net sales $ 980,820 $ 774,886
Total cost of sales 731,634 570,332
Gross profit 249,186 204,554
Selling, general and administrative expenses 154,344 127,343
Operating income 94,842 77,211
Other income (expenses):    
Interest expense (11,263) (9,999)
Interest income 227 311
Loss on investments (unrealized) (1,063) (109)
Other 3,642 3,449
Total other income (expenses) (8,457) (6,348)
Earnings before income taxes 86,385 70,863
Income tax expense:    
Current 22,413 8,547
Deferred 708 6,955
Total income tax expense (benefit) 23,121 15,502
Earnings before equity in earnings of nonconsolidated subsidiaries 63,264 55,361
Equity in loss of nonconsolidated subsidiaries (358) (360)
Net earnings 62,906 55,001
Less: (earnings)/loss attributable to noncontrolling interests (595) 13
Net earnings attributable to Valmont Industries, Inc. $ 62,311 $ 55,014
Earnings per share:    
Basic (in dollars per share) $ 2.93 $ 2.60
Diluted (in dollars per share) $ 2.90 $ 2.57
Product sales    
Net sales $ 890,870 $ 694,965
Total cost of sales 673,170 518,634
Services sales    
Net sales 89,950 79,921
Total cost of sales $ 58,464 $ 51,698