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CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 25, 2021
Dec. 26, 2020
Net sales $ 4,345,250 $ 3,501,575 $ 2,895,355
Total cost of sales 3,219,026 2,617,686 2,129,841
Gross profit 1,126,224 883,889 765,514
Selling, general, and administrative expenses 692,975 590,608 522,923
Impairment of goodwill and intangible assets   6,496 16,638
Operating income 433,249 286,785 225,953
Other income (expenses):      
Interest expense (47,534) (42,612) (41,075)
Interest income 2,015 1,192 2,374
Gain (loss) on investments - unrealized (3,374) 1,920 2,443
Loss from divestiture of offshore wind energy structures business (33,273)    
Other 12,805 12,798 3,073
Total other income (expenses) (69,361) (26,702) (33,185)
Earnings before income taxes 363,888 260,083 192,768
Income tax expense:      
Current 109,912 61,343 51,012
Deferred (1,225) 71 (1,397)
Total income tax expense (benefit) 108,687 61,414 49,615
Earnings before equity in earnings of nonconsolidated subsidiaries 255,201 198,669 143,153
Equity in loss of nonconsolidated subsidiaries (950) (944) (1,004)
Net earnings 254,251 197,725 142,149
Less: Earnings attributable to noncontrolling interests (3,388) (2,095) (1,456)
Net earnings attributable to Valmont Industries, Inc. $ 250,863 $ 195,630 $ 140,693
Earnings per share:      
Basic $ 11.77 $ 9.23 $ 6.60
Diluted $ 11.62 $ 9.10 $ 6.57
Product sales      
Net sales $ 3,955,320 $ 3,159,605 $ 2,594,855
Total cost of sales 2,958,208 2,395,630 1,936,024
Services sales      
Net sales 389,930 341,970 300,500
Total cost of sales $ 260,818 $ 222,056 $ 193,817