XML 43 R36.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Guarantor/Non-Guarantor Financial Information (Details 2) (USD $)
In Thousands
3 Months Ended 6 Months Ended
Jun. 25, 2011
Jun. 26, 2010
Jun. 25, 2011
Jun. 26, 2010
Condensed consolidated financial information for the company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries        
Net sales $ 668,609 $ 481,559 $ 1,236,558 $ 848,961
Cost of sales 500,627 352,913 932,083 619,585
Gross profit 167,982 128,646 304,475 229,376
Selling, general and administrative expenses 99,363 91,345 190,555 160,425
Operating income 68,619 37,301 113,920 68,951
Other income (expenses):        
Interest expense (10,783) (8,429) (19,044) (14,391)
Interest income 2,001 1,092 3,778 1,448
Other 504 47 894 (30)
Total other income (expenses) (8,278) (7,290) (14,372) (12,973)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 60,341 30,011 99,548 55,978
Income tax expense (benefit):        
Current 24,533 17,252 37,037 23,958
Deferred (10,982) (5,570) (10,198) (2,830)
Total Income tax expense (benefit) 13,551 11,682 26,839 21,128
Earnings before equity in earnings/(losses) of nonconsolidated subsidiaries 46,790 18,329 72,709 34,850
Equity in earnings/(losses) of nonconsolidated subsidiaries 1,201 805 2,155 919
Net earnings 47,991 19,134 74,864 35,769
Less: Earnings attributable to noncontrolling interests (2,164) (2,019) (3,428) (2,191)
Net earnings attributable to Valmont Industries, Inc. 45,827 17,115 71,436 33,578
Parent
       
Condensed consolidated financial information for the company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries        
Net sales 302,497 217,433 565,143 416,521
Cost of sales 223,712 161,324 422,015 308,597
Gross profit 78,785 56,109 143,128 107,924
Selling, general and administrative expenses 41,144 46,088 78,253 81,780
Operating income 37,641 10,021 64,875 26,144
Other income (expenses):        
Interest expense (10,676) (7,929) (18,855) (13,683)
Interest income 39 101 34 112
Other (179) 64 192 222
Total other income (expenses) (10,816) (7,764) (18,629) (13,349)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 26,825 2,257 46,246 12,795
Income tax expense (benefit):        
Current 12,863 8,240 19,352 11,043
Deferred (3,970) (4,503) (3,910) (2,918)
Total Income tax expense (benefit) 8,893 3,737 15,442 8,125
Earnings before equity in earnings/(losses) of nonconsolidated subsidiaries 17,932 (1,480) 30,804 4,670
Equity in earnings/(losses) of nonconsolidated subsidiaries 27,895 18,595 40,632 28,908
Net earnings 45,827 17,115 71,436 33,578
Net earnings attributable to Valmont Industries, Inc. 45,827 17,115 71,436 33,578
Guarantors
       
Condensed consolidated financial information for the company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries        
Net sales 87,273 68,299 161,114 132,763
Cost of sales 68,513 51,803 126,819 100,732
Gross profit 18,760 16,496 34,295 32,031
Selling, general and administrative expenses 11,510 11,206 22,261 22,639
Operating income 7,250 5,290 12,034 9,392
Other income (expenses):        
Interest expense   (187)   (187)
Interest income   27   27
Other 19 (525) 30 (500)
Total other income (expenses) 19 (685) 30 (660)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 7,269 4,605 12,064 8,732
Income tax expense (benefit):        
Current 3,172 1,766 5,276 3,360
Deferred (707) (256) (968) (285)
Total Income tax expense (benefit) 2,465 1,510 4,308 3,075
Earnings before equity in earnings/(losses) of nonconsolidated subsidiaries 4,804 3,095 7,756 5,657
Equity in earnings/(losses) of nonconsolidated subsidiaries 13,970 4,326 20,337 4,326
Net earnings 18,774 7,421 28,093 9,983
Net earnings attributable to Valmont Industries, Inc. 18,774 7,421 28,093 9,983
Non-Guarantors
       
Condensed consolidated financial information for the company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries        
Net sales 324,846 228,568 594,915 360,060
Cost of sales 254,565 172,746 467,950 271,289
Gross profit 70,281 55,822 126,965 88,771
Selling, general and administrative expenses 46,709 34,051 90,041 56,006
Operating income 23,572 21,771 36,924 32,765
Other income (expenses):        
Interest expense (107) (313) (189) (521)
Interest income 1,962 964 3,744 1,309
Other 664 508 672 248
Total other income (expenses) 2,519 1,159 4,227 1,036
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 26,091 22,930 41,151 33,801
Income tax expense (benefit):        
Current 8,498 7,246 12,409 9,555
Deferred (6,305) (811) (5,320) 373
Total Income tax expense (benefit) 2,193 6,435 7,089 9,928
Earnings before equity in earnings/(losses) of nonconsolidated subsidiaries 23,898 16,495 34,062 23,873
Equity in earnings/(losses) of nonconsolidated subsidiaries 1,234 362 2,120 362
Net earnings 25,132 16,857 36,182 24,235
Less: Earnings attributable to noncontrolling interests (2,164) (2,019) (3,428) (2,191)
Net earnings attributable to Valmont Industries, Inc. 22,968 14,838 32,754 22,044
Eliminations
       
Condensed consolidated financial information for the company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries        
Net sales (46,007) (32,741) (84,614) (60,383)
Cost of sales (46,163) (32,960) (84,701) (61,033)
Gross profit 156 219 87 650
Operating income 156 219 87 650
Other income (expenses):        
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 156 219 87 650
Income tax expense (benefit):        
Earnings before equity in earnings/(losses) of nonconsolidated subsidiaries 156 219 87 650
Equity in earnings/(losses) of nonconsolidated subsidiaries (41,898) (22,478) (60,934) (32,677)
Net earnings (41,742) (22,259) (60,847) (32,027)
Net earnings attributable to Valmont Industries, Inc. $ (41,742) $ (22,259) $ (60,847) $ (32,027)