XML 89 R64.htm IDEA: XBRL DOCUMENT v2.4.1.9
INCOME TAXES (Details) (USD $)
 12 Months Ended
Dec. 27, 2014
Dec. 28, 2013
Dec. 29, 2012
Mar. 30, 2013
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries        
United States $ 168,975,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic $ 338,163,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic $ 248,840,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic  
Foreign 115,208,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign 111,254,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign 110,450,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign  
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 284,183,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 449,417,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 359,290,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments  
Current:        
Federal 52,588,000us-gaap_CurrentFederalTaxExpenseBenefit 110,847,000us-gaap_CurrentFederalTaxExpenseBenefit 81,000,000us-gaap_CurrentFederalTaxExpenseBenefit  
State 5,059,000us-gaap_CurrentStateAndLocalTaxExpenseBenefit 16,398,000us-gaap_CurrentStateAndLocalTaxExpenseBenefit 10,342,000us-gaap_CurrentStateAndLocalTaxExpenseBenefit  
Foreign 32,443,000us-gaap_CurrentForeignTaxExpenseBenefit 39,285,000us-gaap_CurrentForeignTaxExpenseBenefit 32,294,000us-gaap_CurrentForeignTaxExpenseBenefit  
Total 90,090,000vmi_CurrentFederalStateForeignIncomeTaxExpenseBenefitTotal 166,530,000vmi_CurrentFederalStateForeignIncomeTaxExpenseBenefitTotal 123,636,000vmi_CurrentFederalStateForeignIncomeTaxExpenseBenefitTotal  
Non-current: (447,000)vmi_NoncurrentIncomeTaxExpenseBenefitContinuingOperations 1,392,000vmi_NoncurrentIncomeTaxExpenseBenefitContinuingOperations (854,000)vmi_NoncurrentIncomeTaxExpenseBenefitContinuingOperations  
Deferred:        
Federal 447,000us-gaap_DeferredFederalIncomeTaxExpenseBenefit (8,661,000)us-gaap_DeferredFederalIncomeTaxExpenseBenefit (3,824,000)us-gaap_DeferredFederalIncomeTaxExpenseBenefit  
State 1,376,000us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit (307,000)us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit (660,000)us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit  
Foreign 3,428,000us-gaap_DeferredForeignIncomeTaxExpenseBenefit (1,173,000)us-gaap_DeferredForeignIncomeTaxExpenseBenefit 8,204,000us-gaap_DeferredForeignIncomeTaxExpenseBenefit  
Total 5,251,000us-gaap_DeferredIncomeTaxExpenseBenefit (10,141,000)us-gaap_DeferredIncomeTaxExpenseBenefit 3,720,000us-gaap_DeferredIncomeTaxExpenseBenefit  
Total income tax expense (benefit) 94,894,000us-gaap_IncomeTaxExpenseBenefit 157,781,000us-gaap_IncomeTaxExpenseBenefit 126,502,000us-gaap_IncomeTaxExpenseBenefit  
Reconciliations of statutory federal income tax rate and effective tax rate        
Statutory federal income tax rate (as a percent) 35.00%us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate 35.00%us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate 35.00%us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate  
State income taxes, net of federal benefit (as a percent) 1.80%us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes 2.40%us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes 1.70%us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes  
Carryforwards, credits and changes in valuation allowances (as a percent) (0.40%)vmi_EffectiveIncomeTaxRateReconciliationCarryforwardsCreditsAndChangesInValuationAllowances 0.90%vmi_EffectiveIncomeTaxRateReconciliationCarryforwardsCreditsAndChangesInValuationAllowances 1.80%vmi_EffectiveIncomeTaxRateReconciliationCarryforwardsCreditsAndChangesInValuationAllowances  
Foreign tax rate differences (as a percent) (4.40%)us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential (2.40%)us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential (2.50%)us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential  
Changes in unrecognized tax benefits (as a percent) (0.20%)us-gaap_EffectiveIncomeTaxRateReconciliationTaxContingencies 0.30%us-gaap_EffectiveIncomeTaxRateReconciliationTaxContingencies (0.20%)us-gaap_EffectiveIncomeTaxRateReconciliationTaxContingencies  
Domestic production activities deduction (as a percent) (1.60%)us-gaap_EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities (2.10%)us-gaap_EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities (2.30%)us-gaap_EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities  
Other (as a percent) 3.20%us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments 1.00%us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments 1.70%us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments  
Total (as a percent) 33.40%us-gaap_EffectiveIncomeTaxRateContinuingOperations 35.10%us-gaap_EffectiveIncomeTaxRateContinuingOperations 35.20%us-gaap_EffectiveIncomeTaxRateContinuingOperations  
Deferred income tax assets:        
Accrued expenses and allowances 17,446,000us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities 17,038,000us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities    
Accrued insurance 882,000us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsSelfInsurance 1,508,000us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsSelfInsurance    
Tax credits and loss carryforwards 148,484,000us-gaap_DeferredTaxAssetsOperatingLossCarryforwards 146,473,000us-gaap_DeferredTaxAssetsOperatingLossCarryforwards    
Defined benefit pension liability 30,025,000us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions 30,879,000us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensions    
Inventory allowances 4,804,000us-gaap_DeferredTaxAssetsInventory 3,938,000us-gaap_DeferredTaxAssetsInventory    
Accrued warranty 6,920,000us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves 6,552,000us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves    
Deferred compensation 40,348,000us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation 51,413,000us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation    
Gross deferred income tax assets 248,909,000us-gaap_DeferredTaxAssetsGross 257,801,000us-gaap_DeferredTaxAssetsGross    
Valuation allowance (104,487,000)us-gaap_DeferredTaxAssetsValuationAllowance (107,767,000)us-gaap_DeferredTaxAssetsValuationAllowance    
Net deferred income tax assets 144,422,000us-gaap_DeferredTaxAssetsNet 150,034,000us-gaap_DeferredTaxAssetsNet    
Deferred income tax liabilities:        
Work-in-process 5,352,000us-gaap_DeferredTaxLiabilitiesDeferredExpenseCapitalizedInventoryCosts      
Property, plant and equipment 43,084,000us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment 36,657,000us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment    
Intangible assets 60,316,000us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets 57,787,000us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets    
Other liabilities 6,738,000us-gaap_DeferredTaxLiabilitiesOther 7,206,000us-gaap_DeferredTaxLiabilitiesOther    
Total deferred income tax liabilities 115,490,000us-gaap_DeferredTaxLiabilities 101,650,000us-gaap_DeferredTaxLiabilities    
Net deferred income tax asset/(liability) 28,932,000us-gaap_DeferredTaxAssetsLiabilitiesNet 48,384,000us-gaap_DeferredTaxAssetsLiabilitiesNet    
Deferred income tax assets (liabilities), Balance Sheet Caption        
Refundable and deferred income taxes 30,239,000vmi_DeferredTaxAssetsIncludedInRefundableAndDeferredIncomeTaxes 57,344,000vmi_DeferredTaxAssetsIncludedInRefundableAndDeferredIncomeTaxes    
Other assets 70,490,000vmi_DeferredTaxAssetsIncludedInOtherAssets 69,964,000vmi_DeferredTaxAssetsIncludedInOtherAssets    
Deferred income taxes 71,797,000us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent 78,924,000us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent    
Net deferred income tax asset/(liability) 28,932,000us-gaap_DeferredTaxAssetsLiabilitiesNet 48,384,000us-gaap_DeferredTaxAssetsLiabilitiesNet    
Tax credit and net operating loss carryforwards related to the defined benefit pension obligation 148,484,000vmi_DeferredTaxAssetsTaxCreditAndNetOperatingLossCarryforwardsResultingFromAcquisitions 146,473,000vmi_DeferredTaxAssetsTaxCreditAndNetOperatingLossCarryforwardsResultingFromAcquisitions    
Deferred tax assets related to the defined benefit pension obligation 30,025,000vmi_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensionsResultingFromAcquisitions 30,879,000vmi_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPensionsResultingFromAcquisitions    
Uncertain income tax positions recognized, if percentage is greater than, likelihood of being realized upon ultimate settlement 50.00%vmi_UncertainTaxPositionsRecognizedPercentageOfLikelihoodOfBeingSustained      
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]        
Gross Unrecognized Tax Benefits beginning of year 4,727,000us-gaap_UnrecognizedTaxBenefits 3,370,000us-gaap_UnrecognizedTaxBenefits    
Gross increases tax positions in prior period   1,464,000us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions    
Gross decreases tax positions in prior period (456,000)us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions      
Gross increases current period tax positions 610,000us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions 1,336,000us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions    
Lapse of statute of limitations (613,000)us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations (1,443,000)us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations    
Gross Unrecognized Tax Benefits end of year 4,268,000us-gaap_UnrecognizedTaxBenefits 4,727,000us-gaap_UnrecognizedTaxBenefits 3,370,000us-gaap_UnrecognizedTaxBenefits  
Uncertain tax positions for which reversal is reasonably possible during the next 12 months 1,284,000us-gaap_SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit      
Reduction of income tax expense, due to expiration of statutes of limitation 399,000vmi_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitationsDomestic 938,000vmi_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitationsDomestic    
Accrued interest and penalties relating to unrecognized tax benefits 298,000us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued 314,000us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued    
Unrecognized tax benefits that, if recognized, would affect effective tax rate 4,056,000us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate 4,491,000us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate    
Period for which R&E tax credit in U.S. is extended under the American Taxpayer Relief Act of 2012 2 years      
Nonconsolidated subsidiaries       750,000vmi_DeferredTaxAssetsTaxNonConsolidatedSubsidiaries
Income tax expense recorded on undistributed earnings of foreign subsidiaries which are not considered permanently invested 3,900,000vmi_IncomeTaxExpenseRecordedOnUndistributedEarningsOfForeignSubsidiariesNotConsideredPermanentlyInvested      
Undistributed foreign earnings $ 668,400,000us-gaap_UndistributedEarningsOfForeignSubsidiaries $ 644,290,000us-gaap_UndistributedEarningsOfForeignSubsidiaries