EARNINGS PER SHARE

6 Months Ended

Jul. 01, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

(6) EARNINGS PER SHARE

The following table provides a reconciliation of the earnings and average share amounts used to compute both basic and diluted earnings per share:

	Thirteen weeks ended				Twenty-six weeks ended
	July 1,		June 25,		July 1,		June 25,
	2023		2022		2023		2022
Net earnings attributable to Valmont Industries, Inc.	$	89,376	$	76,108	$	163,916	$	138,419
Weighted average shares outstanding:
Basic weighted average shares outstanding		21,029		21,313		21,149		21,296
Dilutive effect of various stock awards		200		228		221		220
Diluted weighted average shares outstanding		21,229		21,541		21,370		21,516
Earnings per share:
Basic	$	4.25	$	3.57	$	7.75	$	6.50
Dilutive effect of various stock awards		(0.04)		(0.04)		(0.08)		(0.07)
Diluted	$	4.21	$	3.53	$	7.67	$	6.43

As of July 1, 2023 and June 25, 2022, there were 40,564 and 47,223 outstanding stock options with exercise prices exceeding the market price of common stock that were excluded from the computation of diluted earnings per share, respectively.