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CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
$ in Thousands
3 Months Ended
Apr. 01, 2023
Mar. 26, 2022
Net sales $ 1,062,481 $ 980,820
Total cost of sales 753,896 731,634
Gross profit 308,585 249,186
Selling, general, and administrative expenses 190,119 154,344
Operating income 118,466 94,842
Other income (expenses):    
Interest expense (13,105) (11,263)
Interest income 830 227
Gain (loss) on investments - unrealized 1,194 (1,063)
Other (2,376) 3,642
Total other income (expenses) (13,457) (8,457)
Earnings before income taxes and equity in loss of nonconsolidated subsidiaries 105,009 86,385
Income tax expense:    
Current 24,356 22,413
Deferred 7,487 708
Total income tax expense (benefit) 31,843 23,121
Earnings before equity in loss of nonconsolidated subsidiaries 73,166 63,264
Equity in loss of nonconsolidated subsidiaries (821) (358)
Net earnings 72,345 62,906
Less: Loss (earnings) attributable to noncontrolling interests 2,195 (595)
Net earnings attributable to Valmont Industries, Inc. $ 74,540 $ 62,311
Earnings per share:    
Basic $ 3.50 $ 2.93
Diluted $ 3.47 $ 2.90
Product sales    
Net sales $ 958,008 $ 890,870
Total cost of sales 681,790 673,170
Services sales    
Net sales 104,473 89,950
Total cost of sales $ 72,106 $ 58,464