XML 22 R32.htm IDEA: XBRL DOCUMENT v2.4.0.6
GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Details 2) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 26, 2011
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries    
Net sales $ 717,350 $ 567,949
Cost of sales 531,036 431,456
Gross profit 186,314 136,493
Selling, general and administrative expenses 103,496 91,192
Operating income 82,818 45,301
Other income (expenses):    
Interest expense (7,807) (8,271)
Interest income 2,078 1,787
Other 1,577 390
Total other income (expenses) (4,152) (6,094)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 78,666 39,207
Income tax expense:    
Current 27,029 12,504
Deferred 737 784
Total income tax expense (benefit) 27,766 13,288
Earnings before equity in earnings/(losses) of nonconsolidated subsidiaries 50,900 25,919
Equity in earnings/(losses) of nonconsolidated subsidiaries 1,688 954
Net earnings 52,588 26,873
Other comprehensive income 31,533 23,482
Comprehensive income 84,121 50,355
Less: Comprehensive income attributable to noncontrolling interests (5,014) (3,242)
Comprehensive income attributable to Valmont Industries, Inc. 79,107 47,113
Parent
   
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries    
Net sales 364,840 262,646
Cost of sales 267,512 198,303
Gross profit 97,328 64,343
Selling, general and administrative expenses 43,272 37,109
Operating income 54,056 27,234
Other income (expenses):    
Interest expense (7,682) (8,189)
Interest income 9 5
Other 1,459 371
Total other income (expenses) (6,214) (7,813)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 47,842 19,421
Income tax expense:    
Current 17,185 6,489
Deferred 194 60
Total income tax expense (benefit) 17,379 6,549
Earnings before equity in earnings/(losses) of nonconsolidated subsidiaries 30,463 12,872
Equity in earnings/(losses) of nonconsolidated subsidiaries 21,862 12,737
Net earnings 52,325 25,609
Other comprehensive income 26,782 21,504
Comprehensive income 79,107 47,113
Comprehensive income attributable to Valmont Industries, Inc. 79,107 47,113
Guarantors
   
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries    
Net sales 128,712 73,841
Cost of sales 103,642 58,306
Gross profit 25,070 15,535
Selling, general and administrative expenses 13,788 10,751
Operating income 11,282 4,784
Other income (expenses):    
Interest expense (12,257)  
Interest income 194  
Other 14 11
Total other income (expenses) (12,049) 11
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries (767) 4,795
Income tax expense:    
Current (901) 2,104
Deferred 1,170 (261)
Total income tax expense (benefit) 269 1,843
Earnings before equity in earnings/(losses) of nonconsolidated subsidiaries (1,036) 2,952
Equity in earnings/(losses) of nonconsolidated subsidiaries 23,108 6,367
Net earnings 22,072 9,319
Other comprehensive income (16,367)  
Comprehensive income 5,705 9,319
Comprehensive income attributable to Valmont Industries, Inc. 5,705 9,319
Non-Guarantors
   
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries    
Net sales 293,942 270,069
Cost of sales 229,923 213,385
Gross profit 64,019 56,684
Selling, general and administrative expenses 46,436 43,332
Operating income 17,583 13,352
Other income (expenses):    
Interest expense (125) (82)
Interest income 14,132 1,782
Other 104 8
Total other income (expenses) 14,111 1,708
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 31,694 15,060
Income tax expense:    
Current 10,745 3,911
Deferred (627) 985
Total income tax expense (benefit) 10,118 4,896
Earnings before equity in earnings/(losses) of nonconsolidated subsidiaries 21,576 10,164
Equity in earnings/(losses) of nonconsolidated subsidiaries 1,656 886
Net earnings 23,232 11,050
Other comprehensive income 47,800 23,482
Comprehensive income 71,032 34,532
Less: Comprehensive income attributable to noncontrolling interests (5,014) (3,242)
Comprehensive income attributable to Valmont Industries, Inc. 66,018 31,290
Eliminations
   
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries    
Net sales (70,144) (38,607)
Cost of sales (70,041) (38,538)
Gross profit (103) (69)
Operating income (103) (69)
Other income (expenses):    
Interest expense 12,257  
Interest income (12,257)  
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries (103) (69)
Income tax expense:    
Earnings before equity in earnings/(losses) of nonconsolidated subsidiaries (103) (69)
Equity in earnings/(losses) of nonconsolidated subsidiaries (44,938) (19,036)
Net earnings (45,041) (19,105)
Other comprehensive income (26,682) (21,504)
Comprehensive income (71,723) (40,609)
Comprehensive income attributable to Valmont Industries, Inc. $ (71,723) $ (40,609)