CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 172,566	$ 185,406
Receivables, net	673,999	604,181
Inventories	693,629	728,762
Contract assets	169,931	174,539
Prepaid expenses and other current assets	97,302	87,697
Total current assets	1,807,427	1,780,585
Property, plant, and equipment, at cost	1,477,062	1,433,151
Less accumulated depreciation	(873,083)	(837,573)
Property, plant, and equipment, net	603,979	595,578
Goodwill	635,017	739,861
Other intangible assets, net	140,252	176,615
Defined pension benefit asset	42,683	24,216
Other non-current assets	256,821	240,141
Total assets	3,486,179	3,556,996
Current liabilities:
Current installments of long-term debt	941	1,194
Notes payable to banks	3,639	5,846
Accounts payable	355,934	360,312
Accrued employee compensation and benefits	115,201	124,355
Contract liabilities	88,600	172,915
Other accrued expenses	145,672	123,965
Income taxes payable	2,062	3,664
Dividends payable	12,533	11,742
Total current liabilities	724,582	803,993
Deferred income taxes	20,885	41,091
Long-term debt, excluding current installments	977,260	870,935
Operating lease liabilities	160,521	155,469
Deferred compensation	30,801	30,316
Other non-current liabilities	13,418	13,480
Total liabilities	1,927,467	1,915,284
Shareholders' equity:
Common stock of $1 par value, authorized 75,000,000 shares; 27,900,000 issued	27,900	27,900
Retained earnings	2,657,174	2,593,039
Accumulated other comprehensive loss	(281,632)	(274,909)
Treasury stock	(901,700)	(765,183)
Total Valmont Industries, Inc. shareholders' equity	1,501,742	1,580,847
Noncontrolling interest in consolidated subsidiaries	56,970	60,865
Total shareholders' equity	1,558,712	1,641,712
Total liabilities and shareholders' equity	$ 3,486,179	$ 3,556,996