EARNINGS PER SHARE

12 Months Ended

Dec. 27, 2014

EARNINGS PER SHARE

EARNINGS PER SHARE

(11) EARNINGS PER SHARE

        The following table provides a reconciliation between Basic and Diluted earnings per share (EPS):

	Basic EPS		Dilutive Effect of Stock Options		Diluted EPS
2014:
Net earnings attributable to Valmont Industries, Inc.	$	183,976	$	—	$	183,976
Weighted average shares outstanding (000's)		25,719		213		25,932
Per share amount	$	7.15	$	0.06	$	7.09
2013:
Net earnings attributable to Valmont Industries, Inc.	$	278,489	$	—	$	278,489
Weighted average shares outstanding (000's)		26,641		258		26,899
Per share amount	$	10.45	$	0.10	$	10.35
2012:
Net earnings attributable to Valmont Industries, Inc.	$	234,072	$	—	$	234,072
Weighted average shares outstanding (000's)		26,471		293		26,764
Per share amount	$	8.84	$	0.09	$	8.75

        Basic and diluted net earnings and earnings per share for 2014 included costs associated with refinancing of our long-term debt of $24.2 million after tax ($0.93 per share). Basic and diluted net earnings and earnings per share for 2013 included a non-cash after-tax loss of $12,011 ($0.45 per share) associated with the deconsolidation of Delta EMD Pty. Ltd. (EMD) and a non-cash after-tax loss of $4,569 ($0.17 per share) related to a fixed asset impairment loss recorded by EMD in the fourth quarter of 2013.

        At the end of fiscal years 2014, 2013 and 2012, there were approximately 449,000, 1,200, and 137,000 options outstanding, respectively, with exercise prices exceeding the market value of common stock that were therefore excluded from the computation of diluted shares outstanding.