GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Tables)

9 Months Ended

Sep. 27, 2014

GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION

Schedule of reconciliation of the Parent, Guarantor and Eliminations columns affected

	Parent			Parent			Guarantor			Guarantor			Eliminations			Eliminations
	As previously reported			As revised			As previously reported			As revised			As previously reported			As revised
2013
Cash flows from operating activities:
Equity in earnings of nonconsolidated subsidiaries	$	(341	)	$	(121,211	)	$	—		$	(48,927	)	$	—		$	169,797
Net cash flows from operating activities		239,277			118,407			77,264			28,337			(166,675	)		3,122
Cash flows from investing activities:
Other, net		(68,447	)		52,423			(105,512	)		(56,585	)		166,675			(3,122	)
Net cash flows from investing activities		(107,989	)		12,881			(123,858	)		(74,931	)		166,675			(3,122	)

Condensed Consolidated Statements of Earnings

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
For the Thirteen weeks ended September 27, 2014

	Parent			Guarantors			Non- Guarantors			Eliminations			Total
Net sales	$	313,775		$	120,016		$	384,564		$	(52,687	)	$	765,668
Cost of sales		234,085			92,091			292,722			(52,730	)		566,168
Gross profit		79,690			27,925			91,842			43			199,500
Selling, general and administrative expenses		48,560			12,145			50,992			—			111,697
Operating income		31,130			15,780			40,850			43			87,803
Other income (expense):
Interest expense		(8,061	)		(11,288	)		(655	)		11,288			(8,716	)
Interest income		2			161			12,602			(11,288	)		1,477
Costs associated with refinancing of debt		(38,705	)		—			—			—			(38,705	)
Other		(196	)		(149	)		(1,999	)		—			(2,344	)
		(46,960	)		(11,276	)		9,948			—			(48,288	)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries		(15,830	)		4,504			50,798			43			39,515
Income tax expense (benefit):
Current		9,296			3,600			10,397			(3	)		23,290
Deferred		(12,430	)		(342	)		3,708			—			(9,064	)
		(3,134	)		3,258			14,105			(3	)		14,226
Earnings before equity in earnings of nonconsolidated subsidiaries		(12,696	)		1,246			36,693			46			25,289
Equity in earnings of nonconsolidated subsidiaries		36,255			17,026			—			(53,285	)		(4	)
Net earnings		23,559			18,272			36,693			(53,239	)		25,285
Less: Earnings attributable to noncontrolling interests		—			—			(1,726	)		—			(1,726	)
Net earnings attributable to Valmont Industries, Inc	$	23,559		$	18,272		$	34,967		$	(53,239	)	$	23,559

For the Thirty-nine weeks ended September 27, 2014

	Parent			Guarantors			Non- Guarantors			Eliminations			Total
Net sales	$	1,069,059		$	380,327		$	1,072,560		$	(161,939	)	$	2,360,007
Cost of sales		785,898			283,443			826,120			(162,413	)		1,733,048
Gross profit		283,161			96,884			246,440			474			626,959
Selling, general and administrative expenses		146,514			37,806			151,212			—			335,532
Operating income		136,647			59,078			95,228			474			291,427
Other income (expense):
Interest expense		(23,427	)		(33,505	)		(1,790	)		33,505			(25,217	)
Interest income		28			496			37,774			(33,505	)		4,793
Costs associated with refinancing of debt		(38,705	)		—			—			—			(38,705	)
Other		1,625			(501	)		(7,377	)		—			(6,253	)
		(60,479	)		(33,510	)		28,607			—			(65,382	)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries		76,168			25,568			123,835			474			226,045
Income tax expense (benefit):
Current		38,489			11,813			31,914			129			82,345
Deferred		(6,601	)		1,325			1,242			—			(4,034	)
		31,888			13,138			33,156			129			78,311
Earnings before equity in earnings of nonconsolidated subsidiaries		44,280			12,430			90,679			345			147,734
Equity in earnings of nonconsolidated subsidiaries		99,235			42,929			—			(142,198	)		(34	)
Net earnings		143,515			55,359			90,679			(141,853	)		147,700
Less: Earnings attributable to noncontrolling interests		—			—			(4,185	)		—			(4,185	)
Net earnings attributable to Valmont Industries, Inc	$	143,515		$	55,359		$	86,494		$	(141,853	)	$	143,515

For the Thirteen weeks ended September 28, 2013

	Parent			Guarantors			Non- Guarantors			Eliminations			Total
Net sales	$	331,525		$	161,432		$	366,522		$	(81,447	)	$	778,032
Cost of sales		238,692			121,870			273,317			(81,411	)		552,468
Gross profit		92,833			39,562			93,205			(36	)		225,564
Selling, general and administrative expenses		51,621			14,530			49,512			—			115,663
Operating income		41,212			25,032			43,693			(36	)		109,901
Other income (expense):
Interest expense		(7,724	)		(11,122	)		(425	)		11,122			(8,149	)
Interest income		18			242			12,422			(11,122	)		1,560
Other		1,422			9			(2,015	)		—			(584	)
		(6,284	)		(10,871	)		9,982			—			(7,173	)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries		34,928			14,161			53,675			(36	)		102,728
Income tax expense (benefit):
Current		19,473			7,419			13,631			(65	)		40,458
Deferred		(4,969	)		(360	)		8,783			—			3,454
		14,504			7,059			22,414			(65	)		43,912
Earnings before equity in earnings of nonconsolidated subsidiaries		20,424			7,102			31,261			29			58,816
Equity in earnings of nonconsolidated subsidiaries		36,065			6,542			—			(42,532	)		75
Net earnings		56,489			13,644			31,261			(42,503	)		58,891
Less: Earnings attributable to noncontrolling interests		—			—			(2,402	)		—			(2,402	)
Net earnings attributable to Valmont Industries, Inc	$	56,489		$	13,644		$	28,859		$	(42,503	)	$	56,489

For the Thirty-nine weeks ended September 28, 2013

	Parent			Guarantors			Non- Guarantors			Eliminations			Total
Net sales	$	1,174,955		$	501,308		$	1,052,733		$	(252,675	)	$	2,476,321
Cost of sales		837,321			377,158			795,182			(255,744	)		1,753,917
Gross profit		337,634			124,150			257,551			3,069			722,404
Selling, general and administrative expenses		157,367			42,871			149,810			—			350,048
Operating income		180,267			81,279			107,741			3,069			372,356
Other income (expense):
Interest expense		(23,115	)		(35,696	)		(1,249	)		35,696			(24,364	)
Interest income		33			732			39,696			(35,696	)		4,765
Other		3,224			55			(2,184	)		—			1,095
		(19,858	)		(34,909	)		36,263			—			(18,504	)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries		160,409			46,370			144,004			3,069			353,852
Income tax expense (benefit):
Current		65,472			20,801			40,283			772			127,328
Deferred		(7,473	)		1,342			4,856			—			(1,275	)
		57,999			22,143			45,139			772			126,053
Earnings before equity in earnings of nonconsolidated subsidiaries		102,410			24,227			98,865			2,297			227,799
Equity in earnings of nonconsolidated subsidiaries		121,211			48,927			207			(169,797	)		548
Net earnings		223,621			73,154			99,072			(167,500	)		228,347
Less: Earnings attributable to noncontrolling interests		—			—			(4,726	)		—			(4,726	)
Net earnings attributable to Valmont Industries, Inc	$	223,621		$	73,154		$	94,346		$	(167,500	)	$	223,621

Condensed Consolidated Statements of Comprehensive Income

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
For the Thirteen weeks ended September 27, 2014

	Parent			Guarantors		Non- Guarantors			Eliminations			Total
Net earnings	$	23,559		$	18,272	$	36,693		$	(53,239	)	$	25,285
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments:
Unrealized gains (losses) arising during the period		—			37,807		(96,808	)		—			(59,001	)
Unrealized loss on cash flow hedge:
Amortization cost included in interest expense		100			—		283			—			383
Realized loss included in net earnings during the period		983			—		—			—			983
Gain on cash flow hedges		4,837			—		—			—			4,837
Actuarial gain (loss) in defined benefit pension plan liability		—			—		1,116			—			1,116
Equity in other comprehensive income		(55,787	)		—		—			55,787			—
Other comprehensive income (loss)		(49,867	)		37,807		(95,409	)		55,787			(51,682	)
Comprehensive income		(26,308	)		56,079		(58,716	)		2,548			(26,397	)
Comprehensive income attributable to noncontrolling interests		—			—		89			—			89
Comprehensive income attributable to Valmont Industries, Inc.	$	(26,308	)	$	56,079	$	(58,627	)	$	2,548		$	(26,308	)

For the Thirty-nine weeks ended September 27, 2014

	Parent			Guarantors		Non- Guarantors			Eliminations			Total
Net earnings	$	143,515		$	55,359	$	90,679		$	(141,853	)	$	147,700
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments:
Unrealized gains (losses) arising during the period					8,492		(41,987	)		—			(33,495	)
Unrealized loss on cash flow hedge:
Amortization cost included in interest expense		300			—		150			—			450
Realized loss included in net earnings during the period		983			—		—			—			983
Gain on cash flow hedges		4,837			—		—			—			4,837
Actuarial gain (loss) in defined benefit pension plan liability		—			—		269			—			269
Equity in other comprehensive income		(30,506	)		—					30,506			—
Other comprehensive income (loss)		(24,386	)		8,492		(41,568	)		30,506			(26,956	)
Comprehensive income		119,129			63,851		49,111			(111,347	)		120,744
Comprehensive income attributable to noncontrolling interests		—			—		(1,615	)		—			(1,615	)
Comprehensive income attributable to Valmont Industries, Inc.	$	119,129		$	63,851	$	47,496		$	(111,347	)	$	119,129

For the Thirteen weeks ended September 28, 2013

	Parent		Guarantors		Non- Guarantors			Eliminations			Total
Net earnings	$	56,489	$	13,644	$	31,261		$	(42,503	)	$	58,891
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments:
Unrealized gains (losses) arising during the period		—		30,221		(12,097	)		—			18,124
Unrealized loss on cash flow hedge:
Amortization cost included in interest expense		100		—		—			—			100
Actuarial gain (loss) in defined benefit pension plan liability		—		—		857			—			857
Equity in other comprehensive income		19,227		—		—			(19,227	)		—
Other comprehensive income (loss)		19,327		30,221		(11,240	)		(19,227	)		19,081
Comprehensive income		75,816		43,865		20,021			(61,730	)		77,972
Comprehensive income attributable to noncontrolling interests		—		—		(2,156	)		—			(2,156	)
Comprehensive income attributable to Valmont Industries, Inc.	$	75,816	$	43,865	$	17,865		$	(61,730	)	$	75,816

For the Thirty-nine weeks ended September 28, 2013

	Parent			Guarantors		Non- Guarantors			Eliminations			Total
Net earnings	$	223,621		$	73,154	$	99,072		$	(167,500	)	$	228,347
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments:
Unrealized gains (losses) arising during the period		—			57,707		(102,165	)		—			(44,458	)
Realized (loss) included in net earnings during the period		—			—		(5,194	)		—			(5,194	)
Unrealized loss on cash flow hedge:
Amortization cost included in interest expense		300			—		—			—			300
Actuarial gain (loss) in defined benefit pension plan liability		—			—		(37	)		—			(37	)
Equity in other comprehensive income		(43,930	)		—		—			43,930			—
Other comprehensive income (loss)		(43,630	)		57,707		(107,396	)		43,930			(49,389	)
Comprehensive income		179,991			130,861		(8,324	)		(123,570	)		178,958
Comprehensive income attributable to noncontrolling interests		—			—		1,033			—			1,033
Comprehensive income attributable to Valmont Industries, Inc.	$	179,991		$	130,861	$	(7,291	)	$	(123,570	)	$	179,991

Condensed Consolidated Balance Sheets

CONDENSED CONSOLIDATED BALANCE SHEETS
September 27, 2014

	Parent			Guarantors		Non-Guarantors			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	153,921		$	3,663	$	294,634		$	—		$	452,218
Receivables, net		158,080			78,808		333,922			—			570,810
Inventories		130,039			65,194		189,412			—			384,645
Prepaid expenses		6,948			759		56,966			—			64,673
Refundable and deferred income taxes		46,233			6,396		11,809			—			64,438
Total current assets		495,221			154,820		886,743			—			1,536,784
Property, plant and equipment, at cost		555,552			126,438		456,431			—			1,138,421
Less accumulated depreciation and amortization		316,637			66,509		138,723			—			521,869
Net property, plant and equipment		238,915			59,929		317,708			—			616,552
Goodwill		20,108			107,542		246,494			—			374,144
Other intangible assets		306			44,847		154,666			—			199,819
Investment in subsidiaries and intercompany accounts		1,477,670			1,489,054		564,888			(3,531,612	)		—
Other assets		44,958			—		90,464			—			135,422
Total assets	$	2,277,178		$	1,856,192	$	2,260,963		$	(3,531,612	)	$	2,862,721
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Current installments of long-term debt	$	188		$	—	$	—		$	—		$	188
Notes payable to banks		—			—		17,863			—			17,863
Accounts payable		59,365			16,720		133,911			—			209,996
Accrued employee compensation and benefits		49,004			5,508		39,947			—			94,459
Accrued expenses		35,806			6,223		51,454			—			93,483
Dividends payable		9,299			—		—			—			9,299
Total current liabilities		153,662			28,451		243,175			—			425,288
Deferred income taxes		2,575			28,649		45,383			—			76,607
Long-term debt, excluding current installments		760,130			507,362		8,481			(507,362	)		768,611
Defined benefit pension liability		—			—		136,808			—			136,808
Deferred compensation		41,629			—		6,385			—			48,014
Other noncurrent liabilities		9,561			—		39,146			—			48,707
Shareholders' equity:
Common stock of $1 par value		27,900			457,950		254,982			(712,932	)		27,900
Additional paid-in capital		—			150,286		1,034,236			(1,184,522	)		—
Retained earnings		1,687,536			608,558		505,735			(1,114,293	)		1,687,536
Accumulated other comprehensive income (loss)		(72,071	)		74,936		(62,433	)		(12,503	)		(72,071	)
Treasury stock		(333,744	)		—		—			—			(333,744	)
Total Valmont Industries, Inc. shareholders' equity		1,309,621			1,291,730		1,732,520			(3,024,250	)		1,309,621
Noncontrolling interest in consolidated subsidiaries		—			—		49,065			—			49,065
Total shareholders' equity		1,309,621			1,291,730		1,781,585			(3,024,250	)		1,358,686
Total liabilities and shareholders' equity	$	2,277,178		$	1,856,192	$	2,260,963		$	(3,531,612	)	$	2,862,721

December 28, 2013

	Parent			Guarantors		Non-Guarantors			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	215,576		$	49,053	$	349,077		$	—		$	613,706
Receivables, net		139,179			108,646		267,615			—			515,440
Inventories		132,953			70,231		176,816			—			380,000
Prepaid expenses		4,735			932		17,330			—			22,997
Refundable and deferred income taxes		41,167			8,351		16,179			—			65,697
Total current assets		533,610			237,213		827,017			—			1,597,840
Property, plant and equipment, at cost		522,734			125,764		368,628			—			1,017,126
Less accumulated depreciation and amortization		300,066			61,520		121,330			—			482,916
Net property, plant and equipment		222,668			64,244		247,298			—			534,210
Goodwill		20,108			107,542		221,982			—			349,632
Other intangible assets		346			48,461		122,110			—			170,917
Investment in subsidiaries and intercompany accounts		1,417,425			1,367,308		518,059			(3,302,792	)		—
Other assets		30,759			—		93,136			—			123,895
Total assets	$	2,224,916		$	1,824,768	$	2,029,602		$	(3,302,792	)	$	2,776,494
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Current installments of long-term debt	$	188		$	—	$	14		$	—		$	202
Notes payable to banks		—			—		19,024			—			19,024
Accounts payable		62,153			20,365		133,603			—			216,121
Accrued employee compensation and benefits		76,370			13,713		32,884			—			122,967
Accrued expenses		28,362			7,315		35,883			—			71,560
Dividends payable		6,706			—		—			—			6,706
Total current liabilities		173,779			41,393		221,408			—			436,580
Deferred income taxes		18,983			29,279		30,662			—			78,924
Long-term debt, excluding current installments		470,175			514,223		732			(514,223	)		470,907
Defined benefit pension liability		—			—		154,397			—			154,397
Deferred compensation		32,339			—		6,770			—			39,109
Other noncurrent liabilities		7,615			—		44,116			—			51,731
Shareholders' equity:
Common stock of $1 par value		27,900			457,950		254,982			(712,932	)		27,900
Additional paid-in capital		—			150,286		891,236			(1,041,522	)		—
Retained earnings		1,562,670			565,193		517,703			(1,082,896	)		1,562,670
Accumulated other comprehensive income		(47,685	)		66,444		(115,225	)		48,781			(47,685	)
Treasury stock		(20,860	)		—		—			—			(20,860	)
Total Valmont Industries, Inc. shareholders' equity		1,522,025			1,239,873		1,548,696			(2,788,569	)		1,522,025
Noncontrolling interest in consolidated subsidiaries		—			—		22,821			—			22,821
Total shareholders' equity		1,522,025			1,239,873		1,571,517			(2,788,569	)		1,544,846
Total liabilities and shareholders' equity	$	2,224,916		$	1,824,768	$	2,029,602		$	(3,302,792	)	$	2,776,494

Condensed Consolidated Statements of Cash Flows

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Thirty-nine Weeks Ended September 27, 2014

	Parent			Guarantors			Non-Guarantors			Eliminations			Total
Cash flows from operating activities:
Net earnings	$	143,515		$	55,359		$	90,679		$	(141,853	)	$	147,700
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and amortization		17,094			9,804			37,562			—			64,460
Loss on investment		—			—			4,859			—			4,859
Non-cash debt refinancing costs		(2,478	)		—			—			—			(2,478	)
Stock-based compensation		5,444			—			—			—			5,444
Change in fair value of contingent consideration		—			—			4,300			—			4,300
Defined benefit pension plan expense		—			—			2,003			—			2,003
Contribution to defined benefit pension plan		—			—			(18,245	)		—			(18,245	)
Gain on sale of property, plant and equipment		37			(30	)		51			—			58
Equity in earnings in nonconsolidated subsidiaries		(99,235	)		(42,929	)		—			142,198			34
Deferred income taxes		(6,601	)		1,324			1,243			—			(4,034	)
Changes in assets and liabilities (net of acquisitions):
Receivables		(18,901	)		29,838			(30,888	)		—			(19,951	)
Inventories		2,914			5,036			(12,102	)		—			(4,152	)
Prepaid expenses		(2,213	)		173			(17,142	)		—			(19,182	)
Accounts payable		(2,788	)		(3,643	)		(14,651	)		—			(21,082	)
Accrued expenses		(18,654	)		(9,296	)		24			—			(27,926	)
Other noncurrent liabilities		2,061			—			(8,470	)		—			(6,409	)
Income taxes payable (refundable)		(16,149	)		(225	)		(6,328	)		—			(22,702	)
Net cash flows from operating activities		4,046			45,411			32,895			345			82,697
Cash flows from investing activities:
Purchase of property, plant and equipment		(35,925	)		(1,972	)		(25,515	)		—			(63,412	)
Proceeds from sale of assets		8			127			1,972			—			2,107
Acquisitions, net of cash acquired		—			—			(137,438	)		—			(137,438	)
Other, net		36,954			(15,989	)		(17,628	)		(345	)		2,992
Net cash flows from investing activities		1,037			(17,834	)		(178,609	)		(345	)		(195,751	)
Cash flows from financing activities:
Net borrowings under short-term agreements		—			—			(1,065	)		—			(1,065	)
Proceeds from long-term borrowings		652,540			—			—			—			652,540
Principal payments on long-term borrowings		(356,994	)		—			(65	)		—			(357,059	)
Settlement of financial derivative		4,837			—			—			—			4,837
Dividends paid		(23,357	)		—			—			—			(23,357	)
Intercompany dividends		116,995			(18,533	)		(98,462	)		—			—
Dividends to noncontrolling interest		—			—			(1,340	)		—			(1,340	)
Intercompany interest on long-term note		—			(54,398	)		54,398			—			—
Debt issuance costs		(5,464	)		—			—			—			(5,464	)
Intercompany capital contribution		(143,000	)		—			143,000			—			—
Proceeds from exercises under stock plans		12,824			—			—			—			12,824
Excess tax benefits from stock option exercises		3,916			—			—			—			3,916
Purchase of treasury shares		(316,296	)		—			—			—			(316,296	)
Purchase of common treasury shares—stock plan exercises:		(12,739	)		—			—			—			(12,739	)
Net cash flows from financing activities		(66,738	)		(72,931	)		96,466			—			(43,203	)
Effect of exchange rate changes on cash and cash equivalents		—			(36	)		(5,195	)		—			(5,231	)
Net change in cash and cash equivalents		(61,655	)		(45,390	)		(54,443	)		—			(161,488	)
Cash and cash equivalents—beginning of year		215,576			49,053			349,077			—			613,706
Cash and cash equivalents—end of period	$	153,921		$	3,663		$	294,634		$	—		$	452,218

For the Thirty-nine Weeks Ended September 28, 2013

	Parent			Guarantors			Non-Guarantors			Eliminations			Total
Cash flows from operations:
Net earnings	$	223,621		$	73,154		$	99,072		$	(167,500	)	$	228,347
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and amortization		15,252			9,620			32,545			—			57,417
Stock-based compensation		4,999			—			—			—			4,999
Defined benefit pension plan expense		—			—			4,870			—			4,870
Contribution to defined benefit pension plan		—			—			(16,755	)		—			(16,755	)
Gain on sale of property, plant and equipment		354			37			(5,451	)		—			(5,060	)
Equity in earnings of nonconsolidated subsidiaries		(121,211	)		(48,927	)		(207	)		169,797			(548	)
Deferred income taxes		(7,473	)		1,342			4,856			—			(1,275	)
Changes in assets and liabilities:
Receivables		8,737			3,552			(13,046	)		—			(757	)
Inventories		3,146			(5,556	)		(12,164	)		—			(14,574	)
Prepaid expenses		(1,148	)		290			(6,183	)		—			(7,041	)
Accounts payable		(11,968	)		(2,992	)		16,121			—			1,161
Accrued expenses		17,944			(148	)		(865	)		—			16,931
Other noncurrent liabilities		5,987			—			(3,477	)		—			2,510
Income taxes payable (refundable)		(19,833	)		(2,035	)		(77	)		825			(21,120	)
Net cash flows from operations		118,407			28,337			99,239			3,122			249,105
Cash flows from investing activities:
Purchase of property, plant and equipment		(41,034	)		(18,381	)		(15,657	)		—			(75,072	)
Proceeds from sale of assets		1,492			35			38,037			—			39,564
Acquisitions, net of cash acquired		—			—			(53,152	)		—			(53,152	)
Other, net		52,423			(56,585	)		8,515			(3,122	)		1,231
Net cash flows from investing activities		12,881			(74,931	)		(22,257	)		(3,122	)		(87,429	)
Cash flows from financing activities:
Net borrowings under short-term agreements		—			—			3,439			—			3,439
Proceeds from long-term borrowings		—			—			274			—			274
Principal payments on long-term borrowings		(187	)		—			(321	)		—			(508	)
Dividends paid		(18,717	)		—			—			—			(18,717	)
Intercompany dividends		—			20,133			(20,133	)		—			—
Dividend to noncontrolling interests		—			—			(1,767	)		—			(1,767	)
Proceeds from exercises under stock plans		15,064			—			—			—			15,064
Excess tax benefits from stock option exercises		4,630			—			—			—			4,630
Purchase of common treasury shares—stock plan exercises		(14,644	)		—			—			—			(14,644	)
Net cash flows from financing activities		(13,854	)		20,133			(18,508	)		—			(12,229	)
Effect of exchange rate changes on cash and cash equivalents		—			(5,556	)		(14,651	)		—			(20,207	)
Net change in cash and cash equivalents		117,434			(32,017	)		43,823			—			129,240
Cash and cash equivalents—beginning of year		40,926			83,203			290,000			—			414,129
Cash and cash equivalents—end of period	$	158,360		$	51,186		$	333,823		$	—		$	543,369