XML 112 R89.htm IDEA: XBRL DOCUMENT v3.6.0.2
GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Details 3) - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 26, 2015
Dec. 27, 2014
Sep. 27, 2014
Dec. 28, 2013
Current assets:          
Cash and cash equivalents $ 399,948 $ 349,074 $ 371,579 $ 349,074 $ 613,706
Receivables, less allowance of $10,250 in 2016 and $10,055 in 2015 439,342 466,443      
Inventories 350,028 340,672      
Prepaid expenses, restricted cash, and other assets 57,297 46,137      
Refundable income taxes 6,601 24,526      
Total current assets 1,253,216 1,226,852      
Property, plant and equipment, at cost 1,105,736 1,081,056      
Less accumulated depreciation and amortization 587,401 548,567      
Net property, plant and equipment 518,335 532,489      
Goodwill 321,110 336,916 385,111    
Other intangible assets 144,378 170,197      
Investment in subsidiaries and intercompany accounts 0 0      
Other assets, less allowance for doubtful receivables of $8,741 in 2016 and $10,953 in 2015 154,692 125,928      
Total assets 2,391,731 2,392,382 2,721,955    
Current liabilities:          
Current installments of long-term debt 851 1,077      
Notes payable to banks 746 976      
Accounts payable 177,488 179,983      
Accrued employee compensation and benefits 72,404 70,354      
Accrued expenses 89,914 105,593      
Dividends payable 8,445 8,571      
Total current liabilities (349,848) (366,554)      
Deferred income taxes 35,803 35,669      
Long-term debt, excluding current installments 754,795 756,918      
Defined benefit pension liability 209,470 179,323      
Deferred compensation 44,319 48,417      
Other noncurrent liabilities 14,910 40,290      
Shareholders’ equity:          
Common stock of $1 par value 27,900 27,900      
Additional paid-in capital 0 0      
Retained earnings 1,874,722 1,729,679      
Accumulated other comprehensive income (loss) (346,359) (267,218)      
Cost of treasury stock, common shares of 5,379,106 in 2016 and 5,042,775 in 2015 (612,781) (571,920)      
Total Valmont Industries, Inc. shareholders’ equity 943,482 918,441      
Noncontrolling interest in consolidated subsidiaries 39,104 46,770      
Total shareholders’ equity 982,586 965,211 1,250,405   1,544,846
Total liabilities and shareholders’ equity 2,391,731 2,392,382      
Eliminations          
Current assets:          
Cash and cash equivalents 0 0 0   0
Receivables, less allowance of $10,250 in 2016 and $10,055 in 2015 0 0      
Inventories (4,154) (2,993)      
Prepaid expenses, restricted cash, and other assets 0 0      
Refundable income taxes 0 0      
Total current assets (4,154) (2,993)      
Property, plant and equipment, at cost 0 0      
Less accumulated depreciation and amortization 0 0      
Net property, plant and equipment 0 0      
Goodwill 0 0      
Other intangible assets 0 0      
Investment in subsidiaries and intercompany accounts (3,270,540) (2,992,184)      
Other assets, less allowance for doubtful receivables of $8,741 in 2016 and $10,953 in 2015 0 0      
Total assets (3,274,694) (2,995,177)      
Current liabilities:          
Current installments of long-term debt 0 0      
Notes payable to banks 0 0      
Accounts payable 0 0      
Accrued employee compensation and benefits 0 0      
Accrued expenses 0 0      
Dividends payable 0 0      
Total current liabilities 0 0      
Deferred income taxes 0 0      
Long-term debt, excluding current installments 0 0      
Defined benefit pension liability 0 0      
Deferred compensation 0 0      
Other noncurrent liabilities 0 0      
Shareholders’ equity:          
Common stock of $1 par value (1,106,633) (1,106,633)      
Additional paid-in capital (1,266,950) (1,266,950)      
Retained earnings (1,250,087) (896,644)      
Accumulated other comprehensive income (loss) 348,976 275,050      
Cost of treasury stock, common shares of 5,379,106 in 2016 and 5,042,775 in 2015 0 0      
Total Valmont Industries, Inc. shareholders’ equity (3,274,694) (2,995,177)      
Noncontrolling interest in consolidated subsidiaries 0 0      
Total shareholders’ equity (3,274,694) (2,995,177)      
Total liabilities and shareholders’ equity (3,274,694) (2,995,177)      
Parent          
Current assets:          
Cash and cash equivalents 67,225 62,281 69,869   215,576
Receivables, less allowance of $10,250 in 2016 and $10,055 in 2015 134,351 130,741      
Inventories 126,669 132,222      
Prepaid expenses, restricted cash, and other assets 13,271 9,900      
Refundable income taxes 6,601 24,526      
Total current assets 348,117 359,670      
Property, plant and equipment, at cost 547,076 541,536      
Less accumulated depreciation and amortization 352,960 334,471      
Net property, plant and equipment 194,116 207,065      
Goodwill 20,108 20,108      
Other intangible assets 184 238      
Investment in subsidiaries and intercompany accounts 1,279,413 1,239,228      
Other assets, less allowance for doubtful receivables of $8,741 in 2016 and $10,953 in 2015 43,880 40,067      
Total assets 1,885,818 1,866,376      
Current liabilities:          
Current installments of long-term debt 0 215      
Notes payable to banks 0 0      
Accounts payable 52,272 66,723      
Accrued employee compensation and benefits 34,508 32,272      
Accrued expenses 30,261 31,073      
Dividends payable 8,445 8,571      
Total current liabilities (125,486) (138,854)      
Deferred income taxes 22,481 9,686      
Long-term debt, excluding current installments 751,251 751,765      
Defined benefit pension liability 0 0      
Deferred compensation 39,476 43,485      
Other noncurrent liabilities 3,642 4,145      
Shareholders’ equity:          
Common stock of $1 par value 27,900 27,900      
Additional paid-in capital 0 0      
Retained earnings 1,874,722 1,729,679      
Accumulated other comprehensive income (loss) (346,359) (267,218)      
Cost of treasury stock, common shares of 5,379,106 in 2016 and 5,042,775 in 2015 (612,781) (571,920)      
Total Valmont Industries, Inc. shareholders’ equity 943,482 918,441      
Noncontrolling interest in consolidated subsidiaries 0 0      
Total shareholders’ equity 943,482 918,441      
Total liabilities and shareholders’ equity 1,885,818 1,866,376      
Guarantors          
Current assets:          
Cash and cash equivalents 6,071 4,008 2,157   29,797
Receivables, less allowance of $10,250 in 2016 and $10,055 in 2015 60,522 66,387      
Inventories 45,457 38,379      
Prepaid expenses, restricted cash, and other assets 880 766      
Refundable income taxes 0 0      
Total current assets 112,930 109,540      
Property, plant and equipment, at cost 153,596 132,864      
Less accumulated depreciation and amortization 76,776 69,956      
Net property, plant and equipment 76,820 62,908      
Goodwill 110,561 110,562      
Other intangible assets 35,953 40,959      
Investment in subsidiaries and intercompany accounts 901,758 813,779      
Other assets, less allowance for doubtful receivables of $8,741 in 2016 and $10,953 in 2015 0 0      
Total assets 1,238,022 1,137,748      
Current liabilities:          
Current installments of long-term debt 0 0      
Notes payable to banks 0 0      
Accounts payable 15,732 13,680      
Accrued employee compensation and benefits 7,243 6,347      
Accrued expenses 15,242 22,802      
Dividends payable 0 0      
Total current liabilities (38,217) (42,829)      
Deferred income taxes 0 0      
Long-term debt, excluding current installments 0 0      
Defined benefit pension liability 0 0      
Deferred compensation 0 0      
Other noncurrent liabilities 5 0      
Shareholders’ equity:          
Common stock of $1 par value 457,950 457,950      
Additional paid-in capital 159,414 159,414      
Retained earnings 646,749 541,917      
Accumulated other comprehensive income (loss) (64,313) (64,362)      
Cost of treasury stock, common shares of 5,379,106 in 2016 and 5,042,775 in 2015 0 0      
Total Valmont Industries, Inc. shareholders’ equity 1,199,800 1,094,919      
Noncontrolling interest in consolidated subsidiaries 0 0      
Total shareholders’ equity 1,199,800 1,094,919      
Total liabilities and shareholders’ equity 1,238,022 1,137,748      
Non- Guarantors          
Current assets:          
Cash and cash equivalents 326,652 282,785 $ 299,553   $ 368,333
Receivables, less allowance of $10,250 in 2016 and $10,055 in 2015 244,469 269,315      
Inventories 182,056 173,064      
Prepaid expenses, restricted cash, and other assets 43,146 35,471      
Refundable income taxes 0 0      
Total current assets 796,323 760,635      
Property, plant and equipment, at cost 405,064 406,656      
Less accumulated depreciation and amortization 157,665 144,140      
Net property, plant and equipment 247,399 262,516      
Goodwill 190,441 206,246      
Other intangible assets 108,241 129,000      
Investment in subsidiaries and intercompany accounts 1,089,369 939,177      
Other assets, less allowance for doubtful receivables of $8,741 in 2016 and $10,953 in 2015 110,812 85,861      
Total assets 2,542,585 2,383,435      
Current liabilities:          
Current installments of long-term debt 851 862      
Notes payable to banks 746 976      
Accounts payable 109,484 99,580      
Accrued employee compensation and benefits 30,653 31,735      
Accrued expenses 44,411 51,718      
Dividends payable 0 0      
Total current liabilities (186,145) (184,871)      
Deferred income taxes 13,322 25,983      
Long-term debt, excluding current installments 3,544 5,153      
Defined benefit pension liability 209,470 179,323      
Deferred compensation 4,843 4,932      
Other noncurrent liabilities 11,263 36,145      
Shareholders’ equity:          
Common stock of $1 par value 648,683 648,683      
Additional paid-in capital 1,107,536 1,107,536      
Retained earnings 603,338 354,727      
Accumulated other comprehensive income (loss) (284,663) (210,688)      
Cost of treasury stock, common shares of 5,379,106 in 2016 and 5,042,775 in 2015 0 0      
Total Valmont Industries, Inc. shareholders’ equity 2,074,894 1,900,258      
Noncontrolling interest in consolidated subsidiaries 39,104 46,770      
Total shareholders’ equity 2,113,998 1,947,028      
Total liabilities and shareholders’ equity $ 2,542,585 $ 2,383,435