Valmont Industries (VMI) 10-Q 1 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jul. 01, 2023	Jul. 28, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 01, 2023
Current Fiscal Year End Date	--12-30
Document Transition Report	false
Entity File Number	1-31429
Entity Registrant Name	Valmont Industries, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-0351813
Entity Address, Address Line One	15000 Valmont Plaza,
Entity Address, City or Town	Omaha,
Entity Address, State or Province	NE
Entity Address, Postal Zip Code	68154
City Area Code	402
Local Phone Number	963-1000
Title of 12(b) Security	Common Stock $1.00 par value
Trading Symbol	VMI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Smaller Reporting Company	false
Emerging Growth Company	false
Shell Company	false
Entity Common Stock, Shares Outstanding		21,012,778
Entity Central Index Key	0000102729
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jun. 25, 2022	Jul. 01, 2023	Jun. 25, 2022
Net sales	$ 1,046,296	$ 1,135,532	$ 2,108,777	$ 2,116,352
Total cost of sales	716,899	842,931	1,470,795	1,574,565
Gross profit	329,397	292,601	637,982	541,787
Selling, general, and administrative expenses	195,664	173,882	385,783	328,226
Operating income	133,733	118,719	252,199	213,561
Other income (expenses):
Interest expense	(14,917)	(11,386)	(28,022)	(22,649)
Interest income	563	285	1,393	512
Gain (loss) on investments - unrealized	941	(2,342)	2,135	(3,405)
Other	612	2,073	(1,764)	5,715
Total other income (expenses)	(12,801)	(11,370)	(26,258)	(19,827)
Earnings before income taxes and equity in loss of nonconsolidated subsidiaries	120,932	107,349	225,941	193,734
Income tax expense:
Current	37,791	27,620	62,147	50,033
Deferred	(5,856)	1,967	1,631	2,675
Total income tax expense	31,935	29,587	63,778	52,708
Earnings before equity in loss of nonconsolidated subsidiaries	88,997	77,762	162,163	141,026
Equity in loss of nonconsolidated subsidiaries	(199)	(555)	(1,020)	(913)
Net earnings	88,798	77,207	161,143	140,113
Loss (earnings) attributable to noncontrolling interests	578	(1,099)	2,773	(1,694)
Net earnings attributable to Valmont Industries, Inc.	$ 89,376	$ 76,108	$ 163,916	$ 138,419
Earnings per share:
Basic	$ 4.25	$ 3.57	$ 7.75	$ 6.50
Diluted	$ 4.21	$ 3.53	$ 7.67	$ 6.43
Product sales
Net sales	$ 945,873	$ 1,036,289	$ 1,903,881	$ 1,927,159
Total cost of sales	651,413	781,323	1,333,203	1,454,493
Services sales
Net sales	100,423	99,243	204,896	189,193
Total cost of sales	$ 65,486	$ 61,608	$ 137,592	$ 120,072

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jun. 25, 2022	Jul. 01, 2023	Jun. 25, 2022
Statement of Comprehensive Income [Abstract]
Net earnings	$ 88,798	$ 77,207	$ 161,143	$ 140,113
Foreign currency translation adjustments:
Unrealized translation gain (loss)	11,967	(43,666)	20,156	(32,050)
Hedging activities:
Unrealized gain (loss) on commodity hedges	(1,339)	(19,512)	(2,815)	1,048
Realized (gain) loss on commodity hedges recorded in earnings	925	1,545	3,797	(498)
Unrealized gain (loss) on cross currency swaps	(760)	3,470	(1,351)	5,281
Amortization cost included in interest expense	(12)	(16)	(28)	(32)
Total hedging activities	(1,186)	(14,513)	(397)	5,799
Net gain on defined benefit pension plan	95	124	186	256
Other comprehensive income (loss)	10,876	(58,055)	19,945	(25,995)
Comprehensive income	99,674	19,152	181,088	114,118
Comprehensive (income) loss attributable to noncontrolling interests	233	932	2,135	(756)
Comprehensive income attributable to Valmont Industries, Inc.	$ 99,907	$ 20,084	$ 183,223	$ 113,362

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 01, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 166,907	$ 185,406
Receivables, net	651,133	604,181
Inventories	729,738	728,762
Contract assets	154,410	174,539
Prepaid expenses and other current assets	99,994	87,697
Total current assets	1,802,182	1,780,585
Property, plant, and equipment, at cost	1,464,577	1,433,151
Less accumulated depreciation	(861,465)	(837,573)
Net property, plant, and equipment	603,112	595,578
Goodwill	744,271	739,861
Other intangible assets, net	165,728	176,615
Defined pension benefit asset	43,045	24,216
Other non-current assets	257,502	240,141
Total assets	3,615,840	3,556,996
Current liabilities:
Current installments of long-term debt	1,041	1,194
Notes payable to banks	1,665	5,846
Accounts payable	346,000	360,312
Accrued employee compensation and benefits	109,155	124,355
Contract liabilities	124,230	172,915
Other accrued expenses	131,344	123,965
Income taxes payable	23,152	3,664
Dividends payable	12,607	11,742
Total current liabilities	749,194	803,993
Deferred income taxes	38,390	41,091
Long-term debt, excluding current installments	952,704	870,935
Operating lease liabilities	161,795	155,469
Deferred compensation	34,938	30,316
Other non-current liabilities	8,527	13,480
Total liabilities	1,945,548	1,915,284
Shareholders' equity:
Common stock of $1 par value - Authorized 75,000,000 shares; 27,900,000 issued	27,900	27,900
Retained earnings	2,710,382	2,593,039
Accumulated other comprehensive loss	(255,602)	(274,909)
Treasury stock	(870,456)	(765,183)
Total Valmont Industries, Inc. shareholders' equity	1,612,224	1,580,847
Noncontrolling interest in consolidated subsidiaries	58,068	60,865
Total shareholders' equity	1,670,292	1,641,712
Total liabilities and shareholders' equity	$ 3,615,840	$ 3,556,996

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jul. 01, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock of $1 par value -	$ 1	$ 1
Common stock, authorized shares (in shares)	75,000,000	75,000,000
Common stock, issued shares (in shares)	27,900,000	27,900,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2023	Jun. 25, 2022
Cash flows from operating activities:
Net earnings	$ 161,143	$ 140,113
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and amortization	48,792	48,012
Contribution to defined benefit pension plan	(15,259)	(17,155)
Gain on divestiture	(2,994)	0
Stock-based compensation	19,856	19,583
Defined benefit pension plan benefit	122	(5,242)
Loss on sale of property, plant, and equipment	1,297	737
Equity in loss in nonconsolidated subsidiaries	1,020	913
Deferred income taxes	1,631	2,675
Changes in assets and liabilities:
Receivables	(38,147)	(53,809)
Inventories	6,402	(56,625)
Prepaid expenses and other assets (current and non-current)	(26,001)	5,369
Contract assets	20,052	(59,536)
Accounts payable	(20,750)	39,875
Accrued expenses	(11,202)	(16,034)
Contract liabilities	(53,728)	4,798
Other non-current liabilities	(7,083)	(6,447)
Income taxes payable / refundable	24,395	20,792
Net cash flows provided by operating activities	109,546	68,019
Cash flows from investing activities:
Purchase of property, plant, and equipment	(45,393)	(49,676)
Proceeds from divestiture, net of cash divested	6,369	0
Proceeds from sale of assets	1,261	45
Proceeds from property damage insurance claims	4,844	0
Acquisitions, net of cash acquired		(39,297)
Other, net	(1,127)	1,117
Net cash flows used in investing activities	(34,046)	(87,811)
Cash flows from financing activities:
Proceeds from short-term borrowings	14,905	0
Payments on short-term borrowings	(19,598)	(9,155)
Proceeds from long-term borrowings	165,012	201,462
Principal payments on long-term borrowings	(84,105)	(156,973)
Dividends paid	(24,376)	(22,337)
Dividends to noncontrolling interest	(662)	0
Purchase of noncontrolling interests		(4,292)
Purchase of treasury shares	(135,115)	(9,776)
Proceeds from exercises under stock plans	5,201	5,846
Tax withholdings on exercises under stock plans	(15,416)	(4,205)
Net cash flows (used in) provided by financing activities	(94,154)	570
Effect of exchange rate changes on cash and cash equivalents	155	(3,431)
Net change in cash and cash equivalents	(18,499)	(22,653)
Cash and cash equivalents-beginning of period	185,406	177,232
Cash and cash equivalents-end of period	$ 166,907	$ 154,579

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss)	Treasury stock	Noncontrolling interest in consolidated subsidiaries	Total
Increase (Decrease) in Shareholders' Equity
Treasury stock balance					$ (773,712)
Beginning balance at Dec. 25, 2021	$ 27,900	$ 1,479	$ 2,394,307	$ (263,127)		$ 26,750	$ 1,413,597
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)			62,311			595	62,906
Other comprehensive income (loss)				30,967		1,093	32,060
Cash dividends declared			(11,721)				(11,721)
Stock options and incentive plans		(3,772)			(3,877)		(7,649)
Ending balance at Mar. 26, 2022	27,900	5,251	2,444,897	(232,160)		28,438	1,504,491
Beginning balance at Dec. 25, 2021	27,900	1,479	2,394,307	(263,127)		26,750	1,413,597
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)							140,113
Other comprehensive income (loss)							(25,995)
Ending balance at Jun. 25, 2022	27,900	4,321	2,509,262	(288,184)		64,768	1,553,150
Increase (Decrease) in Shareholders' Equity
Treasury stock balance					(769,835)
Beginning balance at Mar. 26, 2022	27,900	5,251	2,444,897	(232,160)		28,438	1,504,491
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)			76,108			1,099	77,207
Other comprehensive income (loss)				(56,024)		(2,031)	(58,055)
Cash dividends declared			(11,743)				(11,743)
Purchase of treasury shares					(9,776)		(9,776)
Purchase of noncontrolling interest		189				(4,481)	(4,292)
Addition of noncontrolling interest due to acquisition						41,743	41,743
Stock options and incentive plans		1,119			(14,694)		(13,575)
Ending balance at Jun. 25, 2022	27,900	$ 4,321	2,509,262	(288,184)		64,768	1,553,150
Increase (Decrease) in Shareholders' Equity
Treasury stock balance					(764,917)
Treasury stock balance					(765,183)		(765,183)
Beginning balance at Dec. 31, 2022	27,900		2,593,039	(274,909)		60,865	1,641,712
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)			74,540			(2,195)	72,345
Other comprehensive income (loss)				8,776		293	9,069
Cash dividends declared			(12,634)				(12,634)
Purchase of treasury shares					(111,115)		(111,115)
Dividends to noncontrolling interests						(662)	(662)
Stock options and incentive plans			19,317		(19,002)		315
Ending balance at Apr. 01, 2023	27,900		2,635,628	(266,133)		58,301	1,598,400
Beginning balance at Dec. 31, 2022	27,900		2,593,039	(274,909)		60,865	1,641,712
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)							161,143
Other comprehensive income (loss)							19,945
Ending balance at Jul. 01, 2023	27,900		2,710,382	(255,602)		58,068	1,670,292
Increase (Decrease) in Shareholders' Equity
Treasury stock balance					(857,296)
Beginning balance at Apr. 01, 2023	27,900		2,635,628	(266,133)		58,301	1,598,400
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)			89,376			(578)	88,798
Other comprehensive income (loss)				10,531		345	10,876
Cash dividends declared			(12,607)				(12,607)
Purchase of treasury shares					(25,132)		(25,132)
Stock options and incentive plans			2,015		(11,972)		(9,957)
Ending balance at Jul. 01, 2023	$ 27,900		$ 2,710,382	$ (255,602)		$ 58,068	1,670,292
Increase (Decrease) in Shareholders' Equity
Treasury stock balance					$ (870,456)		$ (870,456)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Jul. 01, 2023	Apr. 01, 2023	Jun. 25, 2022	Mar. 26, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends per share (in dollars per share)	$ 0.60	$ 0.60	$ 0.55	$ 0.55
Purchase of treasury shares acquired (in shares)	85,300	356,887	38,804

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jul. 01, 2023
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	(1) BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Condensed Consolidated Financial Statements The Condensed Consolidated Balance Sheet as of July 1, 2023, the Condensed Consolidated Statements of Earnings, Comprehensive Income, and Shareholders’ Equity for the thirteen and twenty-six weeks ended July 1, 2023 and June 25, 2022, and the Condensed Consolidated Statements of Cash Flows for the twenty-six weeks then ended have been prepared by Valmont Industries, Inc. (the “Company”) without audit. In the opinion of management, all necessary adjustments, which include normal recurring adjustments, have been made to present fairly the financial statements as of July 1, 2023 and for all periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These Condensed Consolidated Financial Statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The results of operations for the period ended July 1, 2023 are not necessarily indicative of the operating results for the full fiscal year. Inventories Inventory is valued at the lower of cost, determined on the first-in, first-out method, or net realizable value. Finished goods and manufactured goods inventories include the costs of acquired raw materials and related factory labor and overhead charges required to convert raw materials to manufactured and finished goods. Inventories as of July 1, 2023 and December 31, 2022 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ July 1, ​ December 31, ​ ​ 2023 2022 Raw materials and purchased parts ​ $ 266,759 ​ $ 258,814 Work-in-process ​ 46,848 ​ 44,453 Finished goods and manufactured goods ​ 416,131 ​ 425,495 Total inventories ​ $ 729,738 ​ $ 728,762 ​ Geographical Markets Earnings before income taxes and equity in loss of nonconsolidated subsidiaries for the thirteen and twenty-six weeks ended July 1, 2023 and June 25, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ July 1, ​ June 25, ​ July 1, ​ June 25, ​ ​ 2023 2022 2023 2022 United States ​ $ 77,066 ​ $ 62,214 ​ $ 108,924 ​ $ 123,031 Foreign ​ 43,866 ​ 45,135 ​ 117,017 ​ 70,703 Total earnings before income taxes and equity in loss of nonconsolidated subsidiaries ​ $ 120,932 ​ $ 107,349 ​ $ 225,941 ​ $ 193,734 ​ Pension Benefits The Company incurs expenses in connection with the Delta Pension Plan (“DPP”). The DPP was acquired as part of the Delta PLC acquisition in fiscal 2010 and has no members that are active employees. In order to measure the expense and the related benefit obligation, various assumptions are made including discount rates used to value the obligation, expected return on plan assets used to fund these expenses, and estimated future inflation rates. These assumptions are based on historical experience as well as current facts and circumstances. An actuarial analysis is used to measure the expense and liability associated with pension benefits. The components of the net periodic pension (benefit) expense for the thirteen and twenty-six weeks ended July 1, 2023 and June 25, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ July 1, ​ June 25, ​ July 1, ​ June 25, ​ ​ 2023 2022 2023 2022 Interest cost ​ $ 5,414 ​ $ 3,157 ​ $ 10,670 ​ $ 6,522 Expected return on plan assets ​ (5,477) ​ (5,818) ​ (10,794) ​ (12,020) Amortization of prior service cost ​ 124 ​ 124 ​ 246 ​ 256 Net periodic (benefit) expense ​ $ 61 ​ $ (2,537) ​ $ 122 ​ $ (5,242) ​ Stock Plans The Company maintains stock-based compensation plans approved by the shareholders, which provide that the Human Resources Committee of the Board of Directors may grant incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock awards, restricted stock units, and bonuses of common stock. As of July 1, 2023, 1,630,007 shares of common stock remained available for issuance under the plans. Under the plans, the exercise price of each option equals the closing market price as of the date of the grant. Options vest beginning on the first anniversary of the grant date in equal amounts over three years or on the grant’s fifth anniversary date. Expiration of grants is seven three The Company’s compensation expense (included in “Selling, general, and administrative expenses” in the Condensed Consolidated Statements of Earnings) and associated income tax benefits related to stock options and restricted stock for the thirteen and twenty-six weeks ended July 1, 2023 and June 25, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ July 1, ​ June 25, ​ July 1, ​ June 25, ​ ​ 2023 2022 2023 2022 Compensation expense ​ $ 11,167 ​ $ 10,120 ​ $ 19,856 ​ $ 19,583 Income tax benefits ​ 2,792 ​ 2,530 ​ 4,964 ​ 4,896 ​ Fair Value The Company applies the provisions of Accounting Standards Codification 820, Fair Value Measurement ASC 820 establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Financial assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories: ● Level 1: Quoted market prices in active markets for identical assets or liabilities. ● Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. ● Level 3: Unobservable inputs that are not corroborated by market data. The categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following is a description of the valuation methodologies used for assets and liabilities measured at fair value. Trading Securities: The Company’s trading securities represent the investments held in the Valmont Deferred Compensation Plan (the “DCP”). The assets of the DCP as of July 1, 2023 of $29,388 ($25,008 as of December 31, 2022) represent mutual funds, invested in debt and equity securities, classified as trading securities in accordance with ASC 320, Investments – Debt and Equity Securities Derivative Financial Instruments: The fair value of foreign currency and commodity forward contracts and cross currency swap contracts is based on a valuation model that discounts cash flows resulting from the differential between the contract price and the market-based forward rate. Mutual Funds: The Company has short-term investments in various mutual funds. Marketable Securities: The Company has short-term investments in various certificates of deposit. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Fair Value Measurement Using: ​ ​ July 1, 2023 ​ Level 1 ​ Level 2 ​ Level 3 Trading securities ​ $ 29,388 ​ $ 29,388 ​ $ — ​ $ — Derivative financial instruments, net ​ ​ 437 ​ ​ — ​ ​ 437 ​ ​ — Cash and cash equivalents - mutual funds ​ ​ 2,869 ​ ​ 2,869 ​ ​ — ​ ​ — Cash and cash equivalents - marketable securities ​ ​ 143 ​ ​ — ​ ​ 143 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Fair Value Measurement Using: ​ ​ December 31, 2022 ​ Level 1 ​ Level 2 ​ Level 3 Trading securities ​ $ 25,008 ​ $ 25,008 ​ $ — ​ $ — Derivative financial instruments, net ​ ​ 1,404 ​ ​ — ​ ​ 1,404 ​ ​ — Cash and cash equivalents - mutual funds ​ ​ 7,205 ​ ​ 7,205 ​ ​ — ​ ​ — Cash and cash equivalents - marketable securities ​ ​ 136 ​ ​ — ​ ​ 136 ​ ​ — ​ Long-Lived Assets The Company’s other non-financial assets include goodwill and other intangible assets, which are classified as Level 3 items. These assets are measured at fair value on a non-recurring basis as part of annual impairment testing. Leases The Company’s operating lease right-of-use assets are included in “Other non-current assets” and the corresponding lease obligations are included in “Other accrued expenses” and “Operating lease liabilities” in the Condensed Consolidated Balance Sheets. Comprehensive Income Comprehensive income includes net earnings, foreign currency translation adjustments, certain derivative-related activity, and changes in prior service cost from the pension plan. Results of operations for foreign subsidiaries are translated using the average exchange rates during the period. Assets and liabilities are translated at the exchange rates in effect on the balance sheet dates. Accumulated other comprehensive income (loss) (“AOCI”) consisted of the following as of July 1, 2023 and December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign ​ ​ ​ ​ Accumulated ​ ​ Currency ​ ​ ​ Defined ​ Other ​ ​ Translation ​ Hedging ​ Benefit ​ Comprehensive ​ ​ Adjustments ​ Activities ​ Pension Plan ​ Income (Loss) Balance at December 31, 2022 ​ $ (260,799) ​ $ 20,099 ​ $ (34,209) ​ $ (274,909) Current period comprehensive income (loss) ​ 19,518 ​ (397) ​ 186 ​ 19,307 Balance at July 1, 2023 ​ $ (241,281) ​ $ 19,702 ​ $ (34,023) ​ $ (255,602) ​ Revenue Recognition The Company determines the appropriate revenue recognition model for contracts by analyzing the type, terms, and conditions of each contract or arrangement with a customer. Contracts with customers for all businesses are fixed-price with sales tax excluded from revenue and do not include variable consideration. Discounts included in contracts with customers, typically early pay discounts, are recorded as a reduction of net sales in the period in which the sale is recognized. Contract revenues are classified as “Product sales” when the performance obligation is related to the manufacturing and sale of goods. Contract revenues are classified as “Service sales” when the performance obligation is the performance of a service. Service revenue is primarily related to the Coatings and Technology Products and Services product lines. Customer acceptance provisions exist only in the design stage of our products (on a limited basis, the Company may agree to other acceptance terms), and acceptance of the design by the customer is required before the project is manufactured and delivered to the customer. The Company is not entitled to any compensation solely based on design of the product and does not recognize this service as a separate performance obligation and, therefore, no revenue is recognized with the design stage. No general rights of return exist for customers once the product has been delivered and the Company establishes provisions for estimated warranties. Shipping and handling costs associated with sales are recorded as cost of goods sold. The Company elected to use the practical expedient of treating freight as a fulfillment obligation instead of a separate performance obligation and ratably recognize freight expense as the structure is being manufactured when the revenue from the associated customer contract is being recognized over time. With the exception of the Transmission, Distribution, and Substation ("TD&S") product line, the Solar product line, and the Telecommunications product line, the Company’s inventory is interchangeable for a variety of each segment’s customers. The Company has elected to not disclose the partially satisfied performance obligation at the end of the period when the contract has an original expected duration of one year or less. In addition, the Company does not adjust the amount of consideration to be received in a contract for any significant financing component if payment is expected within twelve months of transfer of control of goods or services. The Company’s contract assets as of July 1, 2023 and December 31, 2022 totaled $154,410 and $174,539, respectively. While most of the Infrastructure segment customers are generally invoiced upon shipment or delivery of the goods to the customer’s specified location, certain customers are also invoiced by advanced billings or progress billings. As of July 1, 2023 and December 31, 2022, total contract liabilities were $124,380 and $178,531, respectively. As of July 1, 2023, $124,230 was recorded as “Contract liabilities” and $150 was recorded as “Other non-current liabilities” in the Condensed Consolidated Balance Sheets. Additional details are as follows: ● During the thirteen and twenty-six weeks ended July 1, 2023, the Company recognized $41,217 and $100,157 of revenue that was included in the total contract liability as of December 31, 2022, respectively. The revenue recognized was due to applying advance payments received for performance obligations completed during the period. ● During the thirteen and twenty-six weeks ended June 25, 2022, the Company recognized $31,149 and $59,171 of revenue that was included in the total contract liability as of December 25, 2021, respectively. The revenue recognized was due to applying advance payments received for performance obligations completed during the period. ● As of July 1, 2023, the Company had $150 of remaining performance obligations on contracts with an original expected duration of one year or more and expects to complete the remaining performance obligations on these contracts within the next 12 to 24 months . Segment and Product Line Revenue Recognition Infrastructure Segment Steel and concrete utility structures within the TD&S product line are engineered to customer specifications resulting in limited ability to sell the structure to a different customer if an order is canceled after production commences. The continuous transfer of control to the customer is evidenced either by contractual termination clauses or by rights to payment for work performed to-date plus a reasonable profit as the products do not have an alternative use to the Company. Since control is transferring over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment. For the TD&S and Telecommunications product lines, the Company generally recognizes revenue on an input basis, using total production hours incurred to-date for each order as a percentage of total hours estimated to produce the order. The completion percentage is applied to the order’s total revenue and total estimated costs to determine reported revenue, cost of goods sold, and gross profit. Production of an order, once started, is typically completed within three months. Depending on the product sold, revenue from the Solar product line is recognized both upon shipment or delivery of goods to the customer depending on contract terms, or by using an inputs method, based on the ratio of costs incurred to-date to the total estimated costs at completion of the performance obligation. External sales agents are used in certain TD&S sales and the Company has chosen to expense estimated commissions owed to third parties by recognizing them proportionately as the goods are manufactured. For the structures sold for Lighting and Transportation and for the majority of Telecommunications products, revenue is recognized upon shipment or delivery of goods to the customer depending on contract terms, which is the same point in time that the customer is billed. There are also large regional customers who have unique product specifications for telecommunication structures. When the customer contract includes a cancellation clause that would require them to pay for work completed plus a reasonable margin if an order was canceled, revenue is recognized over time based on hours worked as a percent of total estimated hours to complete production. The Coatings product line revenues are derived by providing coating services to customers’ products, which include galvanizing, anodizing, and powder coating. Revenue is recognized once the coating service has been performed and the goods are ready to be picked up or delivered to the customer, which is the same time that the customer is billed. Agriculture Segment Revenue recognition from the manufacture of irrigation equipment and related parts and services (including tubular products for industrial customers) is generally upon shipment of the goods to the customer which is the same point in time that the customer is billed. The remote monitoring subscription services recognized as part of Technology Products and Services product line are primarily billed annually and revenue is recognized on a straight-line basis over the subsequent twelve months. Disaggregation of revenue by product line is disclosed in the “Business Segments & Related Revenue Information” footnote. Supplier Finance Program In the first quarter of 2023, the Company adopted Accounting Standards Update No. 2022-04, Liabilities – Supplier Finance Program (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations ​ ​ ​ ​ ​ Confirmed obligations outstanding at December 31, 2022 ​ $ 48,880 Invoices confirmed during the period ​ ​ 135,729 Confirmed invoices paid during the period ​ (142,093) Confirmed obligations outstanding at July 1, 2023 ​ $ 42,516 ​

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jul. 01, 2023
Business Combinations [Abstract]
ACQUISITIONS	(2) ACQUISITIONS Acquisitions of Businesses On June 1, 2022, the Company acquired approximately 51% of ConcealFab for $39,287 in cash (net of cash acquired) and subject to working capital adjustments. Approximately $1,850 of the purchase price was contingent on seller representations and warranties that will be settled within 18 months of the acquisition date. ConcealFab is located in Colorado Springs, Colorado, and its operations are reported in the Infrastructure segment. The acquisition was made to allow the Company to incorporate innovative 5G infrastructure and passive intermodulation mitigation solutions into our advanced Infrastructure portfolio. Goodwill is not deductible for tax purposes. The amount allocated to goodwill was primarily attributable to anticipated synergies and other intangibles that do not qualify for separate recognition. The Company finalized the purchase price allocation in the first quarter of fiscal 2023. The following table summarizes the fair values of the assets acquired and liabilities assumed of ConcealFab as of the date of acquisition: ​ ​ ​ ​ ​ ​ June 1, 2022 Current assets ​ $ 21,133 Property, plant, and equipment ​ 3,813 Goodwill ​ 42,465 Customer relationships ​ 26,200 Trade name ​ 5,000 Other non-current assets ​ 9,108 Total fair value of assets acquired ​ $ 107,719 Current liabilities ​ 6,658 Long-term debt ​ 2,038 Operating lease liabilities ​ 7,812 Deferred income taxes ​ 5,464 Other non-current liabilities ​ 12 Total fair value of liabilities assumed ​ $ 21,984 Noncontrolling interest in consolidated subsidiaries ​ 41,693 Net assets acquired ​ $ 44,042 ​ Proforma disclosures were omitted for this acquisition as it does not have a significant impact on the Company’s financial results. Acquisition-related costs incurred for the above acquisition were insignificant for all fiscal years presented. In July 2023, subsequent to the second quarter of fiscal 2023, the Company entered into a definitive agreement to acquire HR Products, a leading wholesale supplier of irrigation parts in Australia. The transaction is expected to close in the third quarter of fiscal 2023 with a total purchase price of approximately $60 million Australian dollars ($40 million United States (“U.S.”) dollars), subject to working capital adjustments. Acquisitions of Noncontrolling Interests On August 10, 2022, the Company acquired the remaining 9% of Convert Italy S.p.A. for $3,046. As this transaction was for the acquisition of all of the remaining shares of a consolidated subsidiary with no change in control, it was recorded within “Shareholders’ equity” in the Condensed Consolidated Balance Sheets and as “Cash flows from financing activities” in the Condensed Consolidated Statements of Cash Flows. On May 10, 2022, the Company acquired the remaining 20% of Valmont West Coast Engineering Ltd. for $4,292. As this transaction was for the acquisition of all of the remaining shares of a consolidated subsidiary with no change in control, it was recorded within “Shareholders’ equity” in the Condensed Consolidated Balance Sheets and as “Cash flows from financing activities” in the Condensed Consolidated Statements of Cash Flows.

DIVESTITURES

DIVESTITURES	6 Months Ended
	Jul. 01, 2023
Discontinued Operations and Disposal Groups [Abstract]
DIVESTITURES	(3) DIVESTITURES On April 30, 2023, the Company completed the sale of Torrent Engineering and Equipment, an integrator of prepackaged pump stations in Indiana, reported in the Agriculture segment, for net proceeds of $6,369. A pre-tax gain of $2,994 is reported in “ Other income (expenses) On November 30, 2022, the Company completed the sale of Valmont SM, an offshore wind energy structures business in Denmark, reported in the Other segment. The business was sold because it did not align with the long-term strategic plans for the Company. The offshore wind energy structures business’ historical annual sales, operating income, and net assets are not significant for discontinued operations presentation. The offshore wind energy structures business had an operating income of $516 for the thirteen weeks ended June 25, 2022, and an operating loss of $293 for the twenty-six weeks ended June 25, 2022. At closing, in the fourth quarter of fiscal 2022, the Company received 90,000 Danish kroner ($12,570 U.S. dollars) with an additional 28,000 Danish kroner ($4,027 U.S. dollars) held in an escrow account subject to normal closing conditions before it will be released to the Company.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Jul. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	(4) GOODWILL AND INTANGIBLE ASSETS Intangible Assets The components of intangible assets as of July 1, 2023 and December 31, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 1, 2023 December 31, 2022 ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ ​ ​ Carrying ​ Accumulated Carrying ​ Accumulated ​ Amount Amortization Amount Amortization Amortizing intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ $ 221,299 ​ $ 151,454 ​ $ 222,716 ​ $ 145,502 Patents & proprietary technology ​ 58,785 ​ 25,475 ​ 58,404 ​ 21,291 Trade names ​ 2,850 ​ 848 ​ 2,850 ​ 645 Other ​ 4,757 ​ 4,434 ​ 2,462 ​ 2,164 Non-amortizing intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trade names ​ ​ 60,248 ​ ​ — ​ ​ 59,785 ​ ​ — ​ ​ $ 347,939 ​ $ 182,211 ​ $ 346,217 ​ $ 169,602 ​ Amortizing intangible assets carry a remaining weighted average life of approximately 12 years. Amortization expense was $5,225 and $10,415 for the thirteen and twenty-six weeks ended July 1, 2023, respectively, and $5,531 and $11,380 for the thirteen and twenty-six weeks ended June 25, 2022, respectively. Based on amortizing intangible assets recognized in the Condensed Consolidated Balance Sheets as of July 1, 2023, amortization expense is estimated to average $13,293 for each next five fiscal The useful lives assigned to finite-lived amortizing intangible assets included consideration of factors such as the Company’s past and expected experience related to customer retention rates, the remaining legal or contractual life of the underlying arrangement that resulted in the recognition of the intangible asset, and the Company’s expected use of the intangible asset. In its determination of the non-amortizing intangible assets as indefinite-lived, the Company considered such factors as its expected future use of the intangible asset, legal, regulatory, technological, and competitive factors that may impact the useful life or value of the intangible asset, and the expected costs to maintain the value of the intangible asset. The Company expects that these intangible assets will maintain their value indefinitely. Accordingly, these assets are not amortized. The Company’s trade names were tested for impairment as of August 27, 2022. The values of each trade name were determined using the relief-from-royalty method. Based on this evaluation, no trade names were determined to be impaired. Goodwill The carrying amount of goodwill by segment as of July 1, 2023 and December 31, 2022 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure Agriculture Total Gross balance at December 31, 2022 ​ $ 473,551 ​ $ 313,777 ​ $ 787,328 Accumulated impairment losses ​ (47,467) ​ — ​ (47,467) Balance at December 31, 2022 ​ 426,084 ​ 313,777 ​ ​ 739,861 Divestiture ​ ​ — ​ ​ (160) ​ ​ (160) Foreign currency translation ​ 4,166 ​ 404 ​ 4,570 Balance at July 1, 2023 ​ $ 430,250 ​ $ 314,021 ​ $ 744,271 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure Agriculture Total Gross balance at July 1, 2023 ​ $ 477,717 ​ $ 314,021 ​ $ 791,738 Accumulated impairment losses ​ ​ (47,467) ​ ​ — ​ ​ (47,467) Balance at July 1, 2023 ​ $ 430,250 ​ $ 314,021 ​ $ 744,271 ​ The Company’s annual impairment test of goodwill was performed as of August 27, 2022, using primarily the discounted cash flow method. The estimated fair value of all the Company’s reporting units exceeded their respective carrying value, so no goodwill impairments were recorded. During fiscal 2023, no goodwill impairments have been recorded.

CASH FLOW SUPPLEMENTARY INFORMA

CASH FLOW SUPPLEMENTARY INFORMATION	6 Months Ended
	Jul. 01, 2023
Supplemental Cash Flow Elements [Abstract]
CASH FLOW SUPPLEMENTARY INFORMATION	(5) CASH FLOW SUPPLEMENTARY INFORMATION The Company considers all highly liquid temporary cash investments purchased with an original maturity of three months or less at the time of purchase to be cash equivalents. Cash payments for interest and income taxes (net of refunds) for the twenty-six weeks ended July 1, 2023 and June 25, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Twenty-six weeks ended ​ ​ July 1, ​ June 25, ​ ​ 2023 2022 Interest ​ $ 27,387 ​ $ 22,221 Income taxes ​ 42,504 ​ 29,921 ​

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jul. 01, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	(6) EARNINGS PER SHARE The following table provides a reconciliation of the earnings and average share amounts used to compute both basic and diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ July 1, ​ June 25, ​ July 1, ​ June 25, ​ ​ 2023 2022 2023 2022 Net earnings attributable to Valmont Industries, Inc. ​ $ 89,376 ​ $ 76,108 ​ $ 163,916 ​ $ 138,419 Weighted average shares outstanding: ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average shares outstanding ​ ​ 21,029 ​ ​ 21,313 ​ ​ 21,149 ​ ​ 21,296 Dilutive effect of various stock awards ​ ​ 200 ​ ​ 228 ​ ​ 221 ​ ​ 220 Diluted weighted average shares outstanding ​ ​ 21,229 ​ ​ 21,541 ​ ​ 21,370 ​ ​ 21,516 Earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ $ 4.25 ​ $ 3.57 ​ $ 7.75 ​ $ 6.50 Dilutive effect of various stock awards ​ ​ (0.04) ​ ​ (0.04) ​ ​ (0.08) ​ ​ (0.07) Diluted ​ $ 4.21 ​ $ 3.53 ​ $ 7.67 ​ $ 6.43 ​ As of July 1, 2023 and June 25, 2022, there were 40,564 and 47,223 outstanding stock options with exercise prices exceeding the market price of common stock that were excluded from the computation of diluted earnings per share, respectively.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Jul. 01, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	(7) DERIVATIVE FINANCIAL INSTRUMENTS The Company manages interest rate risk, commodity price risk, and foreign currency risk related to foreign currency denominated transactions and investments in foreign subsidiaries. Depending on the circumstances, the Company may manage these risks by utilizing derivative financial instruments. Some derivative financial instruments are marked to market and recorded in the Company’s Condensed Consolidated Statements of Earnings, while others may be accounted for as fair value, cash flow, or net investment hedges. Derivative financial instruments have credit and market risk. The Company manages these risks of derivative instruments by monitoring limits as to the types and degree of risk that can be taken and by entering into transactions with counterparties who are recognized, stable multinational banks. Any gains or losses from net investment hedge activities remain in AOCI until either the sale or substantially complete liquidation of the related subsidiaries. Fair value of derivative instruments as of July 1, 2023 and December 31, 2022 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 1, ​ December 31, Derivatives designated as hedging instruments: Balance Sheet location ​ 2023 ​ 2022 Commodity forward contracts ​ Prepaid expenses and other current assets ​ $ 93 ​ $ — Commodity forward contracts ​ Other accrued expenses ​ ​ (2,311) ​ ​ (3,854) Foreign currency forward contracts Prepaid expenses and other current assets ​ ​ — ​ 83 Cross currency swap contracts Prepaid expenses and other current assets ​ ​ 2,974 ​ 5,385 Cross currency swap contracts Other accrued expenses ​ ​ (319) ​ (210) ​ ​ ​ ​ $ 437 ​ $ 1,404 ​ Gains (losses) on derivatives recognized in the Condensed Consolidated Statements of Earnings for the thirteen and twenty-six weeks ended July 1, 2023 and June 25, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended Derivatives designated as ​ ​ ​ July 1, ​ June 25, ​ July 1, ​ June 25, hedging instruments: ​ Statement of Earnings location ​ 2023 2022 2023 2022 Commodity forward contracts ​ Product cost of sales ​ $ (1,078) ​ $ (1,545) ​ $ (5,063) ​ $ 498 Foreign currency forward contracts ​ Other income (expenses) ​ ​ 80 ​ (234) ​ ​ 177 ​ (85) Interest rate hedge amortization ​ Interest expense ​ ​ (16) ​ (16) ​ ​ (32) ​ (32) Cross currency swap contracts ​ Interest expense ​ ​ 449 ​ 733 ​ ​ 895 ​ 1,507 ​ ​ ​ ​ $ (565) ​ $ (1,062) ​ $ (4,023) ​ $ 1,888 ​ Cash Flow Hedges The Company enters into commodity forward contracts that qualify as cash flow hedges of the variability in cash flows attributable to future purchases. The gain (loss) realized upon settlement for each will be recorded in “Product cost of sales” in the Condensed Consolidated Statements of Earnings in the period consumed. Notional amounts, purchase quantities, and maturity dates of these forward contracts as of July 1, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional ​ Total ​ Maturity Commodity Type ​ Amount ​ Purchase Quantity ​ Dates Steel hot rolled coil ​ $ 23,224 ​ 27,000 short tons July 2023 to March 2024 Natural gas ​ ​ 5,391 ​ 1,154,000 MMBtu ​ July 2023 to May 2025 Diesel fuel ​ ​ 755 ​ 1,890,000 gallons ​ July 2023 to March 2024 ​ During the first quarter of fiscal 2023, a subsidiary with a Euro functional currency entered into a foreign currency forward contract to mitigate foreign currency risk related to a large customer order denominated in U.S. dollars. The forward contract, which qualified as a fair value hedge, had a notional amount to sell $1,800 in exchange for a stated amount of Euros and matured in April 2023. Net Investment Hedges In 2019, the Company entered into two fixed-for-fixed cross currency swaps (“CCS”), swapping U.S. dollar principal and interest payments on a portion of its 5.00% senior unsecured notes due in 2044 for Danish krone (“DKK”) and Euro denominated payments. The CCS were entered into in order to mitigate foreign currency risk on the Company’s Euro and DKK investments and to reduce interest expense. Interest is exchanged twice per year on April 1 and October 1. The Company designated the initial full notional amount of the two CCS ($130,000) as a hedge of the net investment in certain Danish and European subsidiaries under the spot method, with all changes in the fair value of the CCS that are included in the assessment of effectiveness (changes due to spot foreign exchange rates) recorded as cumulative foreign currency translation within AOCI. Net interest receipts will be recorded as a reduction of interest expense over the life of the CCS. During the second half of fiscal 2022, the Company settled the DKK CCS and received proceeds of $3,532. Due to the sale of the offshore wind energy structures business in the fourth quarter of fiscal 2022, the Company reclassified the cumulative net investment hedge gain of $4,827 ($3,620 after tax) from AOCI to “Other income (expenses)” in the Consolidated Statements of Earnings as of December 31, 2022 on Form 10-K. Key terms of the Euro CCS are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional ​ ​ ​ Swapped ​ Set Settlement Currency ​ Amount ​ Termination Date ​ Interest Rate ​ Amount Euro ​ $ 80,000 ​ April 1, 2024 2.825% ​ € 71,550 ​

BUSINESS SEGMENTS & RELATED REV

BUSINESS SEGMENTS & RELATED REVENUE INFORMATION	6 Months Ended
	Jul. 01, 2023
Segment Reporting [Abstract]
BUSINESS SEGMENTS & RELATED REVENUE INFORMATION	(8) BUSINESS SEGMENTS & RELATED REVENUE INFORMATION The Company has two reportable segments based on its management structure. Each segment is global in nature with a manager responsible for segment operational performance and the allocation of capital within the segment. Net corporate expense is net of certain service-related expenses that are allocated to business units generally on the basis of employee headcounts and sales dollars. Reportable segments are as follows: INFRASTRUCTURE: AGRICULTURE: In addition to these two reportable segments, the Company had a business and related activities in fiscal 2022 that were not more than 10% of consolidated sales, operating income, or assets. This comprised the offshore wind energy structures business and was reported in the Other segment until its divestiture in the fourth quarter of fiscal 2022. The Company evaluates the performance of its reportable segments based upon operating income and return on invested capital. The Company’s operating income for segment purposes excludes unallocated corporate general and administrative expenses, interest expense, non-operating income and deductions, and income taxes. Summary by Business ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ July 1, June 25, July 1, June 25, ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 SALES: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure ​ $ 770,595 ​ $ 739,518 ​ $ 1,506,701 ​ $ 1,401,590 Agriculture ​ 279,933 ​ 377,765 ​ 612,096 ​ 684,345 Other ​ ​ — ​ ​ 25,432 ​ ​ — ​ ​ 44,086 Total ​ 1,050,528 ​ 1,142,715 ​ 2,118,797 ​ 2,130,021 INTERSEGMENT SALES: ​ ​ ​ ​ ​ ​ ​ Infrastructure ​ (2,437) ​ (4,200) ​ (6,403) ​ (7,301) Agriculture ​ (1,795) ​ (2,983) ​ (3,617) ​ (6,368) Total ​ (4,232) ​ (7,183) ​ (10,020) ​ (13,669) NET SALES: ​ ​ ​ ​ Infrastructure ​ 768,158 ​ 735,318 ​ 1,500,298 ​ 1,394,289 Agriculture ​ 278,138 ​ 374,782 ​ 608,479 ​ 677,977 Other ​ ​ — ​ 25,432 ​ — ​ 44,086 Total ​ $ 1,046,296 ​ $ 1,135,532 ​ $ 2,108,777 ​ $ 2,116,352 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ OPERATING INCOME (LOSS): ​ ​ ​ ​ Infrastructure ​ $ 115,950 ​ $ 84,127 ​ $ 210,302 ​ $ 162,443 Agriculture ​ 49,251 ​ 58,046 ​ 102,574 ​ 95,521 Other ​ ​ — ​ 516 ​ — ​ (293) Corporate ​ (31,468) ​ (23,970) ​ (60,677) ​ (44,110) Total ​ $ 133,733 ​ $ 118,719 ​ $ 252,199 ​ $ 213,561 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended July 1, 2023 ​ ​ Infrastructure Agriculture ​ Intersegment Sales Consolidated Geographical market: ​ ​ ​ ​ ​ ​ North America ​ $ 587,313 ​ $ 140,981 ​ $ (3,613) ​ $ 724,681 International ​ 183,282 ​ 138,952 ​ (619) ​ 321,615 Total ​ $ 770,595 ​ $ 279,933 ​ $ (4,232) ​ $ 1,046,296 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 314,307 ​ $ — ​ $ — ​ $ 314,307 Lighting and Transportation ​ 246,123 ​ — ​ — ​ 246,123 Coatings ​ 91,120 ​ — ​ (1,818) ​ 89,302 Telecommunications ​ 67,738 ​ — ​ — ​ 67,738 Solar ​ 51,307 ​ — ​ (619) ​ 50,688 Irrigation Equipment and Parts ​ — ​ 252,457 ​ (1,795) ​ 250,662 Technology Products and Services ​ — ​ 27,476 ​ — ​ 27,476 Total ​ $ 770,595 ​ $ 279,933 ​ $ (4,232) ​ $ 1,046,296 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twenty-six weeks ended July 1, 2023 ​ ​ Infrastructure Agriculture Intersegment Sales Consolidated Geographical market: ​ ​ ​ ​ ​ North America ​ $ 1,171,396 ​ $ 323,850 ​ $ (8,987) ​ $ 1,486,259 International ​ 335,305 ​ 288,246 ​ (1,033) ​ 622,518 Total ​ $ 1,506,701 ​ $ 612,096 ​ $ (10,020) ​ $ 2,108,777 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 629,127 ​ $ — ​ $ — ​ $ 629,127 Lighting and Transportation ​ 475,259 ​ — ​ — ​ 475,259 Coatings ​ 181,234 ​ — ​ (5,370) ​ 175,864 Telecommunications ​ 135,875 ​ — ​ — ​ 135,875 Solar ​ 85,206 ​ — ​ (1,033) ​ 84,173 Irrigation Equipment and Parts ​ — ​ 551,638 ​ (3,617) ​ 548,021 Technology Products and Services ​ — ​ 60,458 ​ — ​ 60,458 Total ​ $ 1,506,701 ​ $ 612,096 ​ $ (10,020) ​ $ 2,108,777 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended June 25, 2022 ​ ​ Infrastructure Agriculture Other ​ Intersegment Sales Consolidated Geographical market: ​ ​ ​ ​ ​ ​ ​ North America ​ $ 559,864 ​ $ 203,488 ​ $ — ​ $ (6,716) ​ $ 756,636 International ​ 179,654 ​ 174,277 ​ 25,432 ​ (467) ​ 378,896 Total ​ $ 739,518 ​ $ 377,765 ​ $ 25,432 ​ $ (7,183) ​ $ 1,135,532 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 295,835 ​ $ — ​ $ — ​ $ — ​ $ 295,835 Lighting and Transportation ​ 246,652 ​ — ​ — ​ — ​ 246,652 Coatings ​ 90,321 ​ — ​ — ​ (4,200) ​ 86,121 Telecommunications ​ 78,539 ​ — ​ — ​ — ​ 78,539 Solar ​ 28,171 ​ — ​ 25,432 ​ — ​ 53,603 Irrigation Equipment and Parts ​ — ​ 347,585 ​ — ​ (2,983) ​ 344,602 Technology Products and Services ​ — ​ 30,180 ​ — ​ — ​ 30,180 Total ​ $ 739,518 ​ $ 377,765 ​ $ 25,432 ​ $ (7,183) ​ $ 1,135,532 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twenty-six weeks ended June 25, 2022 ​ ​ Infrastructure Agriculture ​ Other Intersegment Sales Consolidated Geographical market: ​ ​ ​ ​ ​ ​ ​ North America ​ $ 1,065,844 ​ $ 385,743 ​ $ — ​ $ (13,202) ​ $ 1,438,385 International ​ 335,746 ​ 298,602 ​ 44,086 ​ (467) ​ 677,967 Total ​ $ 1,401,590 ​ $ 684,345 ​ $ 44,086 ​ $ (13,669) ​ $ 2,116,352 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 577,435 ​ $ — ​ $ — ​ $ — ​ $ 577,435 Lighting and Transportation ​ 459,419 ​ — ​ — ​ — ​ 459,419 Coatings ​ 172,297 ​ — ​ — ​ (7,301) ​ 164,996 Telecommunications ​ 139,935 ​ — ​ — ​ — ​ 139,935 Solar ​ 52,504 ​ — ​ 44,086 ​ — ​ 96,590 Irrigation Equipment and Parts ​ — ​ 625,619 ​ — ​ (6,368) ​ 619,251 Technology Products and Services ​ — ​ 58,726 ​ — ​ — ​ 58,726 Total ​ $ 1,401,590 ​ $ 684,345 ​ $ 44,086 ​ $ (13,669) ​ $ 2,116,352 ​ A breakdown by segment of revenue recognized over time and at a point in time for the thirteen and twenty-six weeks ended July 1, 2023 and June 25, 2022 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended July 1, 2023 Twenty-six weeks ended July 1, 2023 ​ Point in Time ​ Over Time ​ Total Point in Time ​ Over Time ​ Total Infrastructure ​ $ 451,885 ​ $ 316,273 ​ $ 768,158 ​ $ 863,102 ​ $ 637,196 ​ $ 1,500,298 Agriculture ​ 270,811 ​ ​ 7,327 ​ 278,138 ​ 595,017 ​ ​ 13,462 ​ 608,479 Total ​ $ 722,696 ​ $ 323,600 ​ $ 1,046,296 ​ $ 1,458,119 ​ $ 650,658 ​ $ 2,108,777 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended June 25, 2022 ​ Twenty-six weeks ended June 25, 2022 ​ ​ Point in Time Over Time Total ​ Point in Time Over Time Total Infrastructure ​ $ 429,291 ​ $ 306,027 ​ $ 735,318 ​ $ 798,481 ​ $ 595,808 ​ $ 1,394,289 Agriculture ​ 368,175 ​ ​ 6,607 ​ 374,782 ​ 665,781 ​ ​ 12,196 ​ 677,977 Other ​ ​ — ​ ​ 25,432 ​ 25,432 ​ ​ — ​ ​ 44,086 ​ 44,086 Total ​ $ 797,466 ​ $ 338,066 ​ $ 1,135,532 ​ $ 1,464,262 ​ $ 652,090 ​ $ 2,116,352 ​ ​

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jul. 01, 2023
Accounting Policies [Abstract]
Condensed Consolidated Financial Statements	Condensed Consolidated Financial Statements The Condensed Consolidated Balance Sheet as of July 1, 2023, the Condensed Consolidated Statements of Earnings, Comprehensive Income, and Shareholders’ Equity for the thirteen and twenty-six weeks ended July 1, 2023 and June 25, 2022, and the Condensed Consolidated Statements of Cash Flows for the twenty-six weeks then ended have been prepared by Valmont Industries, Inc. (the “Company”) without audit. In the opinion of management, all necessary adjustments, which include normal recurring adjustments, have been made to present fairly the financial statements as of July 1, 2023 and for all periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These Condensed Consolidated Financial Statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The results of operations for the period ended July 1, 2023 are not necessarily indicative of the operating results for the full fiscal year.
Inventories	Inventories Inventory is valued at the lower of cost, determined on the first-in, first-out method, or net realizable value. Finished goods and manufactured goods inventories include the costs of acquired raw materials and related factory labor and overhead charges required to convert raw materials to manufactured and finished goods. Inventories as of July 1, 2023 and December 31, 2022 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ July 1, ​ December 31, ​ ​ 2023 2022 Raw materials and purchased parts ​ $ 266,759 ​ $ 258,814 Work-in-process ​ 46,848 ​ 44,453 Finished goods and manufactured goods ​ 416,131 ​ 425,495 Total inventories ​ $ 729,738 ​ $ 728,762
Geographical Markets	Geographical Markets Earnings before income taxes and equity in loss of nonconsolidated subsidiaries for the thirteen and twenty-six weeks ended July 1, 2023 and June 25, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ July 1, ​ June 25, ​ July 1, ​ June 25, ​ ​ 2023 2022 2023 2022 United States ​ $ 77,066 ​ $ 62,214 ​ $ 108,924 ​ $ 123,031 Foreign ​ 43,866 ​ 45,135 ​ 117,017 ​ 70,703 Total earnings before income taxes and equity in loss of nonconsolidated subsidiaries ​ $ 120,932 ​ $ 107,349 ​ $ 225,941 ​ $ 193,734
Pension Benefits	Pension Benefits The Company incurs expenses in connection with the Delta Pension Plan (“DPP”). The DPP was acquired as part of the Delta PLC acquisition in fiscal 2010 and has no members that are active employees. In order to measure the expense and the related benefit obligation, various assumptions are made including discount rates used to value the obligation, expected return on plan assets used to fund these expenses, and estimated future inflation rates. These assumptions are based on historical experience as well as current facts and circumstances. An actuarial analysis is used to measure the expense and liability associated with pension benefits. The components of the net periodic pension (benefit) expense for the thirteen and twenty-six weeks ended July 1, 2023 and June 25, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ July 1, ​ June 25, ​ July 1, ​ June 25, ​ ​ 2023 2022 2023 2022 Interest cost ​ $ 5,414 ​ $ 3,157 ​ $ 10,670 ​ $ 6,522 Expected return on plan assets ​ (5,477) ​ (5,818) ​ (10,794) ​ (12,020) Amortization of prior service cost ​ 124 ​ 124 ​ 246 ​ 256 Net periodic (benefit) expense ​ $ 61 ​ $ (2,537) ​ $ 122 ​ $ (5,242)
Stock Plans	Stock Plans The Company maintains stock-based compensation plans approved by the shareholders, which provide that the Human Resources Committee of the Board of Directors may grant incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock awards, restricted stock units, and bonuses of common stock. As of July 1, 2023, 1,630,007 shares of common stock remained available for issuance under the plans. Under the plans, the exercise price of each option equals the closing market price as of the date of the grant. Options vest beginning on the first anniversary of the grant date in equal amounts over three years or on the grant’s fifth anniversary date. Expiration of grants is seven three The Company’s compensation expense (included in “Selling, general, and administrative expenses” in the Condensed Consolidated Statements of Earnings) and associated income tax benefits related to stock options and restricted stock for the thirteen and twenty-six weeks ended July 1, 2023 and June 25, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ July 1, ​ June 25, ​ July 1, ​ June 25, ​ ​ 2023 2022 2023 2022 Compensation expense ​ $ 11,167 ​ $ 10,120 ​ $ 19,856 ​ $ 19,583 Income tax benefits ​ 2,792 ​ 2,530 ​ 4,964 ​ 4,896
Fair Value	Fair Value The Company applies the provisions of Accounting Standards Codification 820, Fair Value Measurement ASC 820 establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Financial assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories: ● Level 1: Quoted market prices in active markets for identical assets or liabilities. ● Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. ● Level 3: Unobservable inputs that are not corroborated by market data. The categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following is a description of the valuation methodologies used for assets and liabilities measured at fair value. Trading Securities: The Company’s trading securities represent the investments held in the Valmont Deferred Compensation Plan (the “DCP”). The assets of the DCP as of July 1, 2023 of $29,388 ($25,008 as of December 31, 2022) represent mutual funds, invested in debt and equity securities, classified as trading securities in accordance with ASC 320, Investments – Debt and Equity Securities Derivative Financial Instruments: The fair value of foreign currency and commodity forward contracts and cross currency swap contracts is based on a valuation model that discounts cash flows resulting from the differential between the contract price and the market-based forward rate. Mutual Funds: The Company has short-term investments in various mutual funds. Marketable Securities: The Company has short-term investments in various certificates of deposit. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Fair Value Measurement Using: ​ ​ July 1, 2023 ​ Level 1 ​ Level 2 ​ Level 3 Trading securities ​ $ 29,388 ​ $ 29,388 ​ $ — ​ $ — Derivative financial instruments, net ​ ​ 437 ​ ​ — ​ ​ 437 ​ ​ — Cash and cash equivalents - mutual funds ​ ​ 2,869 ​ ​ 2,869 ​ ​ — ​ ​ — Cash and cash equivalents - marketable securities ​ ​ 143 ​ ​ — ​ ​ 143 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Fair Value Measurement Using: ​ ​ December 31, 2022 ​ Level 1 ​ Level 2 ​ Level 3 Trading securities ​ $ 25,008 ​ $ 25,008 ​ $ — ​ $ — Derivative financial instruments, net ​ ​ 1,404 ​ ​ — ​ ​ 1,404 ​ ​ — Cash and cash equivalents - mutual funds ​ ​ 7,205 ​ ​ 7,205 ​ ​ — ​ ​ — Cash and cash equivalents - marketable securities ​ ​ 136 ​ ​ — ​ ​ 136 ​ ​ —
Long-Lived Assets	Long-Lived Assets The Company’s other non-financial assets include goodwill and other intangible assets, which are classified as Level 3 items. These assets are measured at fair value on a non-recurring basis as part of annual impairment testing.
Leases	Leases The Company’s operating lease right-of-use assets are included in “Other non-current assets” and the corresponding lease obligations are included in “Other accrued expenses” and “Operating lease liabilities” in the Condensed Consolidated Balance Sheets.
Comprehensive Income	Comprehensive Income Comprehensive income includes net earnings, foreign currency translation adjustments, certain derivative-related activity, and changes in prior service cost from the pension plan. Results of operations for foreign subsidiaries are translated using the average exchange rates during the period. Assets and liabilities are translated at the exchange rates in effect on the balance sheet dates. Accumulated other comprehensive income (loss) (“AOCI”) consisted of the following as of July 1, 2023 and December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign ​ ​ ​ ​ Accumulated ​ ​ Currency ​ ​ ​ Defined ​ Other ​ ​ Translation ​ Hedging ​ Benefit ​ Comprehensive ​ ​ Adjustments ​ Activities ​ Pension Plan ​ Income (Loss) Balance at December 31, 2022 ​ $ (260,799) ​ $ 20,099 ​ $ (34,209) ​ $ (274,909) Current period comprehensive income (loss) ​ 19,518 ​ (397) ​ 186 ​ 19,307 Balance at July 1, 2023 ​ $ (241,281) ​ $ 19,702 ​ $ (34,023) ​ $ (255,602)
Revenue Recognition	Revenue Recognition The Company determines the appropriate revenue recognition model for contracts by analyzing the type, terms, and conditions of each contract or arrangement with a customer. Contracts with customers for all businesses are fixed-price with sales tax excluded from revenue and do not include variable consideration. Discounts included in contracts with customers, typically early pay discounts, are recorded as a reduction of net sales in the period in which the sale is recognized. Contract revenues are classified as “Product sales” when the performance obligation is related to the manufacturing and sale of goods. Contract revenues are classified as “Service sales” when the performance obligation is the performance of a service. Service revenue is primarily related to the Coatings and Technology Products and Services product lines. Customer acceptance provisions exist only in the design stage of our products (on a limited basis, the Company may agree to other acceptance terms), and acceptance of the design by the customer is required before the project is manufactured and delivered to the customer. The Company is not entitled to any compensation solely based on design of the product and does not recognize this service as a separate performance obligation and, therefore, no revenue is recognized with the design stage. No general rights of return exist for customers once the product has been delivered and the Company establishes provisions for estimated warranties. Shipping and handling costs associated with sales are recorded as cost of goods sold. The Company elected to use the practical expedient of treating freight as a fulfillment obligation instead of a separate performance obligation and ratably recognize freight expense as the structure is being manufactured when the revenue from the associated customer contract is being recognized over time. With the exception of the Transmission, Distribution, and Substation ("TD&S") product line, the Solar product line, and the Telecommunications product line, the Company’s inventory is interchangeable for a variety of each segment’s customers. The Company has elected to not disclose the partially satisfied performance obligation at the end of the period when the contract has an original expected duration of one year or less. In addition, the Company does not adjust the amount of consideration to be received in a contract for any significant financing component if payment is expected within twelve months of transfer of control of goods or services. The Company’s contract assets as of July 1, 2023 and December 31, 2022 totaled $154,410 and $174,539, respectively. While most of the Infrastructure segment customers are generally invoiced upon shipment or delivery of the goods to the customer’s specified location, certain customers are also invoiced by advanced billings or progress billings. As of July 1, 2023 and December 31, 2022, total contract liabilities were $124,380 and $178,531, respectively. As of July 1, 2023, $124,230 was recorded as “Contract liabilities” and $150 was recorded as “Other non-current liabilities” in the Condensed Consolidated Balance Sheets. Additional details are as follows: ● During the thirteen and twenty-six weeks ended July 1, 2023, the Company recognized $41,217 and $100,157 of revenue that was included in the total contract liability as of December 31, 2022, respectively. The revenue recognized was due to applying advance payments received for performance obligations completed during the period. ● During the thirteen and twenty-six weeks ended June 25, 2022, the Company recognized $31,149 and $59,171 of revenue that was included in the total contract liability as of December 25, 2021, respectively. The revenue recognized was due to applying advance payments received for performance obligations completed during the period. ● As of July 1, 2023, the Company had $150 of remaining performance obligations on contracts with an original expected duration of one year or more and expects to complete the remaining performance obligations on these contracts within the next 12 to 24 months . Segment and Product Line Revenue Recognition Infrastructure Segment Steel and concrete utility structures within the TD&S product line are engineered to customer specifications resulting in limited ability to sell the structure to a different customer if an order is canceled after production commences. The continuous transfer of control to the customer is evidenced either by contractual termination clauses or by rights to payment for work performed to-date plus a reasonable profit as the products do not have an alternative use to the Company. Since control is transferring over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment. For the TD&S and Telecommunications product lines, the Company generally recognizes revenue on an input basis, using total production hours incurred to-date for each order as a percentage of total hours estimated to produce the order. The completion percentage is applied to the order’s total revenue and total estimated costs to determine reported revenue, cost of goods sold, and gross profit. Production of an order, once started, is typically completed within three months. Depending on the product sold, revenue from the Solar product line is recognized both upon shipment or delivery of goods to the customer depending on contract terms, or by using an inputs method, based on the ratio of costs incurred to-date to the total estimated costs at completion of the performance obligation. External sales agents are used in certain TD&S sales and the Company has chosen to expense estimated commissions owed to third parties by recognizing them proportionately as the goods are manufactured. For the structures sold for Lighting and Transportation and for the majority of Telecommunications products, revenue is recognized upon shipment or delivery of goods to the customer depending on contract terms, which is the same point in time that the customer is billed. There are also large regional customers who have unique product specifications for telecommunication structures. When the customer contract includes a cancellation clause that would require them to pay for work completed plus a reasonable margin if an order was canceled, revenue is recognized over time based on hours worked as a percent of total estimated hours to complete production. The Coatings product line revenues are derived by providing coating services to customers’ products, which include galvanizing, anodizing, and powder coating. Revenue is recognized once the coating service has been performed and the goods are ready to be picked up or delivered to the customer, which is the same time that the customer is billed. Agriculture Segment Revenue recognition from the manufacture of irrigation equipment and related parts and services (including tubular products for industrial customers) is generally upon shipment of the goods to the customer which is the same point in time that the customer is billed. The remote monitoring subscription services recognized as part of Technology Products and Services product line are primarily billed annually and revenue is recognized on a straight-line basis over the subsequent twelve months. Disaggregation of revenue by product line is disclosed in the “Business Segments & Related Revenue Information” footnote.
Supplier Finance Program	Supplier Finance Program In the first quarter of 2023, the Company adopted Accounting Standards Update No. 2022-04, Liabilities – Supplier Finance Program (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations ​ ​ ​ ​ ​ Confirmed obligations outstanding at December 31, 2022 ​ $ 48,880 Invoices confirmed during the period ​ ​ 135,729 Confirmed invoices paid during the period ​ (142,093) Confirmed obligations outstanding at July 1, 2023 ​ $ 42,516

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jul. 01, 2023
Accounting Policies [Abstract]
Schedule of inventories	Inventories as of July 1, 2023 and December 31, 2022 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ July 1, ​ December 31, ​ ​ 2023 2022 Raw materials and purchased parts ​ $ 266,759 ​ $ 258,814 Work-in-process ​ 46,848 ​ 44,453 Finished goods and manufactured goods ​ 416,131 ​ 425,495 Total inventories ​ $ 729,738 ​ $ 728,762
Schedule of Income Before Income Tax, Domestic and Foreign	Earnings before income taxes and equity in loss of nonconsolidated subsidiaries for the thirteen and twenty-six weeks ended July 1, 2023 and June 25, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ July 1, ​ June 25, ​ July 1, ​ June 25, ​ ​ 2023 2022 2023 2022 United States ​ $ 77,066 ​ $ 62,214 ​ $ 108,924 ​ $ 123,031 Foreign ​ 43,866 ​ 45,135 ​ 117,017 ​ 70,703 Total earnings before income taxes and equity in loss of nonconsolidated subsidiaries ​ $ 120,932 ​ $ 107,349 ​ $ 225,941 ​ $ 193,734
Schedule of Components of the Net Periodic Pension (Benefit) Expense	The components of the net periodic pension (benefit) expense for the thirteen and twenty-six weeks ended July 1, 2023 and June 25, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ July 1, ​ June 25, ​ July 1, ​ June 25, ​ ​ 2023 2022 2023 2022 Interest cost ​ $ 5,414 ​ $ 3,157 ​ $ 10,670 ​ $ 6,522 Expected return on plan assets ​ (5,477) ​ (5,818) ​ (10,794) ​ (12,020) Amortization of prior service cost ​ 124 ​ 124 ​ 246 ​ 256 Net periodic (benefit) expense ​ $ 61 ​ $ (2,537) ​ $ 122 ​ $ (5,242)
Compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options	The Company’s compensation expense (included in “Selling, general, and administrative expenses” in the Condensed Consolidated Statements of Earnings) and associated income tax benefits related to stock options and restricted stock for the thirteen and twenty-six weeks ended July 1, 2023 and June 25, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ July 1, ​ June 25, ​ July 1, ​ June 25, ​ ​ 2023 2022 2023 2022 Compensation expense ​ $ 11,167 ​ $ 10,120 ​ $ 19,856 ​ $ 19,583 Income tax benefits ​ 2,792 ​ 2,530 ​ 4,964 ​ 4,896
Valuation methodologies used for assets and liabilities measured at fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Fair Value Measurement Using: ​ ​ July 1, 2023 ​ Level 1 ​ Level 2 ​ Level 3 Trading securities ​ $ 29,388 ​ $ 29,388 ​ $ — ​ $ — Derivative financial instruments, net ​ ​ 437 ​ ​ — ​ ​ 437 ​ ​ — Cash and cash equivalents - mutual funds ​ ​ 2,869 ​ ​ 2,869 ​ ​ — ​ ​ — Cash and cash equivalents - marketable securities ​ ​ 143 ​ ​ — ​ ​ 143 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Fair Value Measurement Using: ​ ​ December 31, 2022 ​ Level 1 ​ Level 2 ​ Level 3 Trading securities ​ $ 25,008 ​ $ 25,008 ​ $ — ​ $ — Derivative financial instruments, net ​ ​ 1,404 ​ ​ — ​ ​ 1,404 ​ ​ — Cash and cash equivalents - mutual funds ​ ​ 7,205 ​ ​ 7,205 ​ ​ — ​ ​ — Cash and cash equivalents - marketable securities ​ ​ 136 ​ ​ — ​ ​ 136 ​ ​ —
Schedule of Components of Accumulated Other Comprehensive Income (Loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign ​ ​ ​ ​ Accumulated ​ ​ Currency ​ ​ ​ Defined ​ Other ​ ​ Translation ​ Hedging ​ Benefit ​ Comprehensive ​ ​ Adjustments ​ Activities ​ Pension Plan ​ Income (Loss) Balance at December 31, 2022 ​ $ (260,799) ​ $ 20,099 ​ $ (34,209) ​ $ (274,909) Current period comprehensive income (loss) ​ 19,518 ​ (397) ​ 186 ​ 19,307 Balance at July 1, 2023 ​ $ (241,281) ​ $ 19,702 ​ $ (34,023) ​ $ (255,602)
Schedule of supplier finance program confirmed obligations	​ ​ ​ ​ ​ Confirmed obligations outstanding at December 31, 2022 ​ $ 48,880 Invoices confirmed during the period ​ ​ 135,729 Confirmed invoices paid during the period ​ (142,093) Confirmed obligations outstanding at July 1, 2023 ​ $ 42,516

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jul. 01, 2023
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table summarizes the fair values of the assets acquired and liabilities assumed of ConcealFab as of the date of acquisition: ​ ​ ​ ​ ​ ​ June 1, 2022 Current assets ​ $ 21,133 Property, plant, and equipment ​ 3,813 Goodwill ​ 42,465 Customer relationships ​ 26,200 Trade name ​ 5,000 Other non-current assets ​ 9,108 Total fair value of assets acquired ​ $ 107,719 Current liabilities ​ 6,658 Long-term debt ​ 2,038 Operating lease liabilities ​ 7,812 Deferred income taxes ​ 5,464 Other non-current liabilities ​ 12 Total fair value of liabilities assumed ​ $ 21,984 Noncontrolling interest in consolidated subsidiaries ​ 41,693 Net assets acquired ​ $ 44,042

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jul. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Components of Amortized Intangible Assets	The components of intangible assets as of July 1, 2023 and December 31, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 1, 2023 December 31, 2022 ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ ​ ​ Carrying ​ Accumulated Carrying ​ Accumulated ​ Amount Amortization Amount Amortization Amortizing intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ $ 221,299 ​ $ 151,454 ​ $ 222,716 ​ $ 145,502 Patents & proprietary technology ​ 58,785 ​ 25,475 ​ 58,404 ​ 21,291 Trade names ​ 2,850 ​ 848 ​ 2,850 ​ 645 Other ​ 4,757 ​ 4,434 ​ 2,462 ​ 2,164 Non-amortizing intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trade names ​ ​ 60,248 ​ ​ — ​ ​ 59,785 ​ ​ — ​ ​ $ 347,939 ​ $ 182,211 ​ $ 346,217 ​ $ 169,602 ​ Amortizing intangible assets carry a remaining weighted average life of approximately 12 years. Amortization expense was $5,225 and $10,415 for the thirteen and twenty-six weeks ended July 1, 2023, respectively, and $5,531 and $11,380 for the thirteen and twenty-six weeks ended June 25, 2022, respectively. Based on amortizing intangible assets recognized in the Condensed Consolidated Balance Sheets as of July 1, 2023, amortization expense is estimated to average $13,293 for each next five fiscal
Schedule of Carrying Amount of Goodwill	The carrying amount of goodwill by segment as of July 1, 2023 and December 31, 2022 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure Agriculture Total Gross balance at December 31, 2022 ​ $ 473,551 ​ $ 313,777 ​ $ 787,328 Accumulated impairment losses ​ (47,467) ​ — ​ (47,467) Balance at December 31, 2022 ​ 426,084 ​ 313,777 ​ ​ 739,861 Divestiture ​ ​ — ​ ​ (160) ​ ​ (160) Foreign currency translation ​ 4,166 ​ 404 ​ 4,570 Balance at July 1, 2023 ​ $ 430,250 ​ $ 314,021 ​ $ 744,271 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure Agriculture Total Gross balance at July 1, 2023 ​ $ 477,717 ​ $ 314,021 ​ $ 791,738 Accumulated impairment losses ​ ​ (47,467) ​ ​ — ​ ​ (47,467) Balance at July 1, 2023 ​ $ 430,250 ​ $ 314,021 ​ $ 744,271

CASH FLOW SUPPLEMENTARY INFOR_2

CASH FLOW SUPPLEMENTARY INFORMATION (Tables)	6 Months Ended
	Jul. 01, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Payments For Interest And Income Taxes (Net of Refunds)	Cash payments for interest and income taxes (net of refunds) for the twenty-six weeks ended July 1, 2023 and June 25, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Twenty-six weeks ended ​ ​ July 1, ​ June 25, ​ ​ 2023 2022 Interest ​ $ 27,387 ​ $ 22,221 Income taxes ​ 42,504 ​ 29,921

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jul. 01, 2023
Earnings Per Share [Abstract]
Schedule of Reconciliation of Basic and Diluted Earnings Per Share (EPS)	The following table provides a reconciliation of the earnings and average share amounts used to compute both basic and diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ July 1, ​ June 25, ​ July 1, ​ June 25, ​ ​ 2023 2022 2023 2022 Net earnings attributable to Valmont Industries, Inc. ​ $ 89,376 ​ $ 76,108 ​ $ 163,916 ​ $ 138,419 Weighted average shares outstanding: ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average shares outstanding ​ ​ 21,029 ​ ​ 21,313 ​ ​ 21,149 ​ ​ 21,296 Dilutive effect of various stock awards ​ ​ 200 ​ ​ 228 ​ ​ 221 ​ ​ 220 Diluted weighted average shares outstanding ​ ​ 21,229 ​ ​ 21,541 ​ ​ 21,370 ​ ​ 21,516 Earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ $ 4.25 ​ $ 3.57 ​ $ 7.75 ​ $ 6.50 Dilutive effect of various stock awards ​ ​ (0.04) ​ ​ (0.04) ​ ​ (0.08) ​ ​ (0.07) Diluted ​ $ 4.21 ​ $ 3.53 ​ $ 7.67 ​ $ 6.43 ​

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jul. 01, 2023
DERIVATIVE FINANCIAL INSTRUMENTS
Schedule of Fair Value of Derivative Instruments	Fair value of derivative instruments as of July 1, 2023 and December 31, 2022 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ July 1, ​ December 31, Derivatives designated as hedging instruments: Balance Sheet location ​ 2023 ​ 2022 Commodity forward contracts ​ Prepaid expenses and other current assets ​ $ 93 ​ $ — Commodity forward contracts ​ Other accrued expenses ​ ​ (2,311) ​ ​ (3,854) Foreign currency forward contracts Prepaid expenses and other current assets ​ ​ — ​ 83 Cross currency swap contracts Prepaid expenses and other current assets ​ ​ 2,974 ​ 5,385 Cross currency swap contracts Other accrued expenses ​ ​ (319) ​ (210) ​ ​ ​ ​ $ 437 ​ $ 1,404
Schedule of Gains (Losses) on Derivatives Recognized on Statements of Earnings	Gains (losses) on derivatives recognized in the Condensed Consolidated Statements of Earnings for the thirteen and twenty-six weeks ended July 1, 2023 and June 25, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended Derivatives designated as ​ ​ ​ July 1, ​ June 25, ​ July 1, ​ June 25, hedging instruments: ​ Statement of Earnings location ​ 2023 2022 2023 2022 Commodity forward contracts ​ Product cost of sales ​ $ (1,078) ​ $ (1,545) ​ $ (5,063) ​ $ 498 Foreign currency forward contracts ​ Other income (expenses) ​ ​ 80 ​ (234) ​ ​ 177 ​ (85) Interest rate hedge amortization ​ Interest expense ​ ​ (16) ​ (16) ​ ​ (32) ​ (32) Cross currency swap contracts ​ Interest expense ​ ​ 449 ​ 733 ​ ​ 895 ​ 1,507 ​ ​ ​ ​ $ (565) ​ $ (1,062) ​ $ (4,023) ​ $ 1,888
Cash Flow Hedging
DERIVATIVE FINANCIAL INSTRUMENTS
Schedule of notional amounts of outstanding derivative	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional ​ Total ​ Maturity Commodity Type ​ Amount ​ Purchase Quantity ​ Dates Steel hot rolled coil ​ $ 23,224 ​ 27,000 short tons July 2023 to March 2024 Natural gas ​ ​ 5,391 ​ 1,154,000 MMBtu ​ July 2023 to May 2025 Diesel fuel ​ ​ 755 ​ 1,890,000 gallons ​ July 2023 to March 2024
Net Investment Hedging
DERIVATIVE FINANCIAL INSTRUMENTS
Schedule of notional amounts of outstanding derivative	Key terms of the Euro CCS are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional ​ ​ ​ Swapped ​ Set Settlement Currency ​ Amount ​ Termination Date ​ Interest Rate ​ Amount Euro ​ $ 80,000 ​ April 1, 2024 2.825% ​ € 71,550

BUSINESS SEGMENTS & RELATED R_2

BUSINESS SEGMENTS & RELATED REVENUE INFORMATION (Tables)	6 Months Ended
	Jul. 01, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information of Sales and Operating Income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ July 1, June 25, July 1, June 25, ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 SALES: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure ​ $ 770,595 ​ $ 739,518 ​ $ 1,506,701 ​ $ 1,401,590 Agriculture ​ 279,933 ​ 377,765 ​ 612,096 ​ 684,345 Other ​ ​ — ​ ​ 25,432 ​ ​ — ​ ​ 44,086 Total ​ 1,050,528 ​ 1,142,715 ​ 2,118,797 ​ 2,130,021 INTERSEGMENT SALES: ​ ​ ​ ​ ​ ​ ​ Infrastructure ​ (2,437) ​ (4,200) ​ (6,403) ​ (7,301) Agriculture ​ (1,795) ​ (2,983) ​ (3,617) ​ (6,368) Total ​ (4,232) ​ (7,183) ​ (10,020) ​ (13,669) NET SALES: ​ ​ ​ ​ Infrastructure ​ 768,158 ​ 735,318 ​ 1,500,298 ​ 1,394,289 Agriculture ​ 278,138 ​ 374,782 ​ 608,479 ​ 677,977 Other ​ ​ — ​ 25,432 ​ — ​ 44,086 Total ​ $ 1,046,296 ​ $ 1,135,532 ​ $ 2,108,777 ​ $ 2,116,352 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ OPERATING INCOME (LOSS): ​ ​ ​ ​ Infrastructure ​ $ 115,950 ​ $ 84,127 ​ $ 210,302 ​ $ 162,443 Agriculture ​ 49,251 ​ 58,046 ​ 102,574 ​ 95,521 Other ​ ​ — ​ 516 ​ — ​ (293) Corporate ​ (31,468) ​ (23,970) ​ (60,677) ​ (44,110) Total ​ $ 133,733 ​ $ 118,719 ​ $ 252,199 ​ $ 213,561
Schedule of breakdown by segment of revenue recognized	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended July 1, 2023 ​ ​ Infrastructure Agriculture ​ Intersegment Sales Consolidated Geographical market: ​ ​ ​ ​ ​ ​ North America ​ $ 587,313 ​ $ 140,981 ​ $ (3,613) ​ $ 724,681 International ​ 183,282 ​ 138,952 ​ (619) ​ 321,615 Total ​ $ 770,595 ​ $ 279,933 ​ $ (4,232) ​ $ 1,046,296 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 314,307 ​ $ — ​ $ — ​ $ 314,307 Lighting and Transportation ​ 246,123 ​ — ​ — ​ 246,123 Coatings ​ 91,120 ​ — ​ (1,818) ​ 89,302 Telecommunications ​ 67,738 ​ — ​ — ​ 67,738 Solar ​ 51,307 ​ — ​ (619) ​ 50,688 Irrigation Equipment and Parts ​ — ​ 252,457 ​ (1,795) ​ 250,662 Technology Products and Services ​ — ​ 27,476 ​ — ​ 27,476 Total ​ $ 770,595 ​ $ 279,933 ​ $ (4,232) ​ $ 1,046,296 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twenty-six weeks ended July 1, 2023 ​ ​ Infrastructure Agriculture Intersegment Sales Consolidated Geographical market: ​ ​ ​ ​ ​ North America ​ $ 1,171,396 ​ $ 323,850 ​ $ (8,987) ​ $ 1,486,259 International ​ 335,305 ​ 288,246 ​ (1,033) ​ 622,518 Total ​ $ 1,506,701 ​ $ 612,096 ​ $ (10,020) ​ $ 2,108,777 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 629,127 ​ $ — ​ $ — ​ $ 629,127 Lighting and Transportation ​ 475,259 ​ — ​ — ​ 475,259 Coatings ​ 181,234 ​ — ​ (5,370) ​ 175,864 Telecommunications ​ 135,875 ​ — ​ — ​ 135,875 Solar ​ 85,206 ​ — ​ (1,033) ​ 84,173 Irrigation Equipment and Parts ​ — ​ 551,638 ​ (3,617) ​ 548,021 Technology Products and Services ​ — ​ 60,458 ​ — ​ 60,458 Total ​ $ 1,506,701 ​ $ 612,096 ​ $ (10,020) ​ $ 2,108,777 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended June 25, 2022 ​ ​ Infrastructure Agriculture Other ​ Intersegment Sales Consolidated Geographical market: ​ ​ ​ ​ ​ ​ ​ North America ​ $ 559,864 ​ $ 203,488 ​ $ — ​ $ (6,716) ​ $ 756,636 International ​ 179,654 ​ 174,277 ​ 25,432 ​ (467) ​ 378,896 Total ​ $ 739,518 ​ $ 377,765 ​ $ 25,432 ​ $ (7,183) ​ $ 1,135,532 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 295,835 ​ $ — ​ $ — ​ $ — ​ $ 295,835 Lighting and Transportation ​ 246,652 ​ — ​ — ​ — ​ 246,652 Coatings ​ 90,321 ​ — ​ — ​ (4,200) ​ 86,121 Telecommunications ​ 78,539 ​ — ​ — ​ — ​ 78,539 Solar ​ 28,171 ​ — ​ 25,432 ​ — ​ 53,603 Irrigation Equipment and Parts ​ — ​ 347,585 ​ — ​ (2,983) ​ 344,602 Technology Products and Services ​ — ​ 30,180 ​ — ​ — ​ 30,180 Total ​ $ 739,518 ​ $ 377,765 ​ $ 25,432 ​ $ (7,183) ​ $ 1,135,532 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twenty-six weeks ended June 25, 2022 ​ ​ Infrastructure Agriculture ​ Other Intersegment Sales Consolidated Geographical market: ​ ​ ​ ​ ​ ​ ​ North America ​ $ 1,065,844 ​ $ 385,743 ​ $ — ​ $ (13,202) ​ $ 1,438,385 International ​ 335,746 ​ 298,602 ​ 44,086 ​ (467) ​ 677,967 Total ​ $ 1,401,590 ​ $ 684,345 ​ $ 44,086 ​ $ (13,669) ​ $ 2,116,352 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 577,435 ​ $ — ​ $ — ​ $ — ​ $ 577,435 Lighting and Transportation ​ 459,419 ​ — ​ — ​ — ​ 459,419 Coatings ​ 172,297 ​ — ​ — ​ (7,301) ​ 164,996 Telecommunications ​ 139,935 ​ — ​ — ​ — ​ 139,935 Solar ​ 52,504 ​ — ​ 44,086 ​ — ​ 96,590 Irrigation Equipment and Parts ​ — ​ 625,619 ​ — ​ (6,368) ​ 619,251 Technology Products and Services ​ — ​ 58,726 ​ — ​ — ​ 58,726 Total ​ $ 1,401,590 ​ $ 684,345 ​ $ 44,086 ​ $ (13,669) ​ $ 2,116,352
Breakdown by segment of revenue recognized over time and at a point in time	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended July 1, 2023 Twenty-six weeks ended July 1, 2023 ​ Point in Time ​ Over Time ​ Total Point in Time ​ Over Time ​ Total Infrastructure ​ $ 451,885 ​ $ 316,273 ​ $ 768,158 ​ $ 863,102 ​ $ 637,196 ​ $ 1,500,298 Agriculture ​ 270,811 ​ ​ 7,327 ​ 278,138 ​ 595,017 ​ ​ 13,462 ​ 608,479 Total ​ $ 722,696 ​ $ 323,600 ​ $ 1,046,296 ​ $ 1,458,119 ​ $ 650,658 ​ $ 2,108,777 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended June 25, 2022 ​ Twenty-six weeks ended June 25, 2022 ​ ​ Point in Time Over Time Total ​ Point in Time Over Time Total Infrastructure ​ $ 429,291 ​ $ 306,027 ​ $ 735,318 ​ $ 798,481 ​ $ 595,808 ​ $ 1,394,289 Agriculture ​ 368,175 ​ ​ 6,607 ​ 374,782 ​ 665,781 ​ ​ 12,196 ​ 677,977 Other ​ ​ — ​ ​ 25,432 ​ 25,432 ​ ​ — ​ ​ 44,086 ​ 44,086 Total ​ $ 797,466 ​ $ 338,066 ​ $ 1,135,532 ​ $ 1,464,262 ​ $ 652,090 ​ $ 2,116,352 ​

BASIS OF PRESENTATION AND SUM_4

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Inventories (Details) - USD ($) $ in Thousands	Jul. 01, 2023	Dec. 31, 2022
Inventory, Net [Abstract]
Raw materials and purchased parts	$ 266,759	$ 258,814
Work-in-process	46,848	44,453
Finished goods and manufactured goods	416,131	425,495
Total inventories	$ 729,738	$ 728,762

BASIS OF PRESENTATION AND SUM_5

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Geographical Markets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jun. 25, 2022	Jul. 01, 2023	Jun. 25, 2022
Accounting Policies [Abstract]
United States	$ 77,066	$ 62,214	$ 108,924	$ 123,031
Foreign	43,866	45,135	117,017	70,703
Earnings before income taxes and equity in loss of nonconsolidated subsidiaries	$ 120,932	$ 107,349	$ 225,941	$ 193,734

BASIS OF PRESENTATION AND SUM_6

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Pension Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jun. 25, 2022	Jul. 01, 2023	Jun. 25, 2022
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Interest cost	$ 5,414	$ 3,157	$ 10,670	$ 6,522
Expected return on plan assets	(5,477)	(5,818)	(10,794)	(12,020)
Amortization of prior service cost	124	124	246	256
Net periodic (benefit) expense	$ 61	$ (2,537)	$ 122	$ (5,242)

BASIS OF PRESENTATION AND SUM_7

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Stock Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jun. 25, 2022	Jul. 01, 2023	Jun. 25, 2022
Share-based Payment Arrangement, Option
Defined Benefit Plan Disclosure [Line Items]
Shares of common stock available for issuance (in shares)	1,630,007		1,630,007
Vesting period of options			3 years
Share-based Payment Arrangement, Option | Minimum
Defined Benefit Plan Disclosure [Line Items]
Expiration period of grant			7 years
Vesting period of options			3 years
Share-based Payment Arrangement, Option | Maximum
Defined Benefit Plan Disclosure [Line Items]
Expiration period of grant			10 years
Share-based Payment Arrangement [Member]
Defined Benefit Plan Disclosure [Line Items]
Recognized compensation expense	$ 11,167	$ 10,120	$ 19,856	$ 19,583
Income tax benefits	$ 2,792	$ 2,530	$ 4,964	$ 4,896
Restricted stock units | Minimum
Defined Benefit Plan Disclosure [Line Items]
Vesting period of options			3 years
Restricted stock units | Maximum
Defined Benefit Plan Disclosure [Line Items]
Vesting period of options			4 years

BASIS OF PRESENTATION AND SUM_8

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fair Value (Details) - USD ($) $ in Thousands	Jul. 01, 2023	Dec. 31, 2022
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	$ 29,388	$ 25,008
Derivative financial instruments, net	437	1,404
Cash and cash equivalents - mutual funds	2,869	7,205
Cash and cash equivalents - marketable securities	143	136
Carrying Value | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	29,388	25,008
Estimated Fair value | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	29,388	25,008
Derivative financial instruments, net		0
Cash and cash equivalents - mutual funds	2,869	7,205
Cash and cash equivalents - marketable securities		0
Estimated Fair value | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0
Derivative financial instruments, net	437	1,404
Cash and cash equivalents - mutual funds		0
Cash and cash equivalents - marketable securities	$ 143	136
Estimated Fair value | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities		0
Derivative financial instruments, net		0
Cash and cash equivalents - mutual funds		0
Cash and cash equivalents - marketable securities		$ 0

BASIS OF PRESENTATION AND SUM_9

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Comprehensive Income (Details) $ in Thousands	6 Months Ended
	Jul. 01, 2023 USD ($)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning	$ 1,580,847
Balance, ending	1,612,224
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning	(260,799)
Current-period comprehensive income (loss)	19,518
Balance, ending	(241,281)
Gain on Hedging Activities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning	20,099
Current-period comprehensive income (loss)	(397)
Balance, ending	19,702
Defined Benefit Pension Plan
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning	(34,209)
Current-period comprehensive income (loss)	186
Balance, ending	(34,023)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance, beginning	(274,909)
Current-period comprehensive income (loss)	19,307
Balance, ending	$ (255,602)

BASIS OF PRESENTATION AND SU_10

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jun. 25, 2022	Jul. 01, 2023	Jun. 25, 2022	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Contract assets	$ 154,410		$ 154,410		$ 174,539
Contract liabilities	124,380		124,380		178,531
Contract liabilities	124,230		124,230		$ 172,915
Revenue recognized from contract liability	41,217	$ 31,149	100,157	$ 59,171
Remaining performance obligation	$ 150		$ 150
Minimum
Disaggregation of Revenue [Line Items]
Expected timing of performance obligation satisfaction	12 months		12 months
Maximum
Disaggregation of Revenue [Line Items]
Expected timing of performance obligation satisfaction	24 months		24 months
Contract Liabilities
Disaggregation of Revenue [Line Items]
Contract liabilities	$ 124,230		$ 124,230
Other Noncurrent Liabilities
Disaggregation of Revenue [Line Items]
Contract liabilities, noncurrent	$ 150		$ 150

BASIS OF PRESENTATION AND SU_11

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Supplier Finance Program (Details) $ in Thousands	6 Months Ended
	Jul. 01, 2023 USD ($)
Accounting Policies [Abstract]
Confirmed obligations outstanding at December 31, 2022	$ 48,880
Invoices confirmed during the period	135,729
Confirmed invoices paid during the period	(142,093)
Confirmed obligations outstanding at July 1, 2023	$ 42,516

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) $ in Thousands, $ in Millions				3 Months Ended
	Aug. 10, 2022 USD ($)	Jun. 01, 2022 USD ($)	May 10, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 AUD ($)	Jul. 01, 2023 USD ($)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Goodwill						$ 744,271	$ 739,861
Non-controlling interest in consolidated subsidiaries						$ 58,068	$ 60,865
Conceal Fab
Business Acquisition [Line Items]
Cash paid to acquire business		$ 39,287
Percentage acquired		51%
Current assets		$ 21,133
Property, plant, and equipment		3,813
Other non-current assets		9,108
Goodwill		42,465
Total fair value of assets acquired		107,719
Current Liabilities		6,658
Long-term debt		2,038
Operating lease liabilities		7,812
Deferred income taxes		5,464
Other non-current liabilities		12
Total fair value of liabilities assumed		21,984
Non-controlling interest in consolidated subsidiaries		41,693
Net assets acquired		44,042
Contingent consideration liability, current		1,850
Convert Italia S.p.A.
Business Acquisition [Line Items]
Percentage acquired	9%
Consideration transferred	$ 3,046
Valmont West Coast Engineering
Business Acquisition [Line Items]
Percentage acquired			20%
Consideration transferred			$ 4,292
HR Products | Subsequent Event [Member]
Business Acquisition [Line Items]
Expected total purchase price				$ 40,000	$ 60
Customer Relationships | Conceal Fab
Business Acquisition [Line Items]
Intangible assets		26,200
Trade Names | Conceal Fab
Business Acquisition [Line Items]
Intangible assets		$ 5,000

DIVESTITURES (Details)

DIVESTITURES (Details) kr in Thousands, $ in Thousands			3 Months Ended	6 Months Ended
	Apr. 30, 2023 USD ($)	Apr. 28, 2023	Jul. 01, 2023 USD ($)	Jul. 01, 2023 USD ($)	Jun. 25, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 DKK (kr)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain on sale of engineering and equipment				$ 2,994	$ 0
Valmont SM, Offshore Wind Business [Member] | Disposed by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Operating income			$ 516	$ (293)
Cash consideration						$ 12,570	kr 90,000
Consideration escrowed						$ 4,027	kr 28,000
Torrent Engineering and Equipment [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds	$ 6,369
Pre-tax gain on sale of engineering and equipment	$ 2,994
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]		Nonoperating Income (Expense)

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Amortizing Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jun. 25, 2022	Jul. 01, 2023	Jun. 25, 2022	Dec. 31, 2022
Components of amortized intangible assets
Weighted Average Life	12 years		12 years
Amortization expense for intangible assets	$ 5,225	$ 5,531	$ 10,415	$ 11,380
Estimated Amortization Expense
Remainder of 2023	13,293		13,293
2024	13,293		13,293
2025	13,293		13,293
2026	13,293		13,293
2027	13,293		13,293
2028	13,293		13,293
Customer Relationships
Components of amortized intangible assets
Gross Carrying Amount	221,299		221,299		$ 222,716
Accumulated Amortization	151,454		151,454		145,502
Patents & Proprietary Technology
Components of amortized intangible assets
Gross Carrying Amount	58,785		58,785		58,404
Accumulated Amortization	25,475		25,475		21,291
Trade Names
Components of amortized intangible assets
Gross Carrying Amount	2,850		2,850		2,850
Accumulated Amortization	848		848		645
Other
Components of amortized intangible assets
Gross Carrying Amount	4,757		4,757		2,462
Accumulated Amortization	$ 4,434		$ 4,434		$ 2,164

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Non-Amortized Intangible Assets (Details) - USD ($) $ in Thousands	Jul. 01, 2023	Dec. 31, 2022
Trade Names
Non-amortized intangible assets
Non-amortizing intangible assets	$ 60,248	$ 59,785

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Total Intangible Assets (Details) - USD ($) $ in Thousands	Jul. 01, 2023	Dec. 31, 2022
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Amortizing and non-amortizing intangible assets, Gross Carrying Amount	$ 347,939	$ 346,217
Intangible Assets, Accumulated Amortization	$ 182,211	$ 169,602

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Carrying Amount of Goodwill (Details) - USD ($)	6 Months Ended
	Jul. 01, 2023	Dec. 31, 2022
Goodwill [Line Items]
Goodwill, Gross	$ 791,738,000	$ 787,328,000
Accumulated impairment losses	(47,467,000)	(47,467,000)
Carrying amount of goodwill
Balance at the beginning of the period	739,861,000
Impairment	0
Divestiture	(160,000)
Foreign currency translation	4,570,000
Balance at the end of the period	744,271,000
Infrastructure [Member]
Goodwill [Line Items]
Goodwill, Gross	477,717,000	473,551,000
Accumulated impairment losses	(47,467,000)	(47,467,000)
Carrying amount of goodwill
Balance at the beginning of the period	426,084,000
Foreign currency translation	4,166,000
Balance at the end of the period	430,250,000
Agriculture [Member]
Goodwill [Line Items]
Goodwill, Gross	314,021,000	$ 313,777,000
Carrying amount of goodwill
Balance at the beginning of the period	313,777,000
Divestiture	(160,000)
Foreign currency translation	404,000
Balance at the end of the period	$ 314,021,000

GOODWILL AND INTANGIBLE ASSET_6

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details)	6 Months Ended
	Jul. 01, 2023 USD ($)
Indefinite-lived Intangible Assets
Goodwill impairment	$ 0
Trade Names
Indefinite-lived Intangible Assets
Impairment of intangible assets	$ 0

CASH FLOW SUPPLEMENTARY INFOR_3

CASH FLOW SUPPLEMENTARY INFORMATION (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2023	Jun. 25, 2022
Supplemental Cash Flow Elements [Abstract]
Interest	$ 27,387	$ 22,221
Income taxes	$ 42,504	$ 29,921

EARNINGS PER SHARE - Reconcilia

EARNINGS PER SHARE - Reconciliation of earnings and share amounts to compute basic and diluted earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jun. 25, 2022	Jul. 01, 2023	Jun. 25, 2022
Earnings Per Share [Abstract]
Net earnings attributable to Valmont Industries, Inc.	$ 89,376	$ 76,108	$ 163,916	$ 138,419
Weighted average shares outstanding:
Basic weighted average shares outstanding	21,029	21,313	21,149	21,296
Dilutive effect of various stock awards	200	228	221	220
Diluted weighted average shares outstanding	21,229	21,541	21,370	21,516
Earnings per share:
Basic	$ 4.25	$ 3.57	$ 7.75	$ 6.50
Dilutive effect of various stock awards	(0.04)	(0.04)	(0.08)	(0.07)
Diluted	$ 4.21	$ 3.53	$ 7.67	$ 6.43

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2023	Jun. 25, 2022
Earnings Per Share [Abstract]
Loss from divestiture of offshore wind energy structures business	$ 2,994	$ 0
Outstanding stock options with exercise prices exceeding the market price of common stock, excluded from the computation of diluted earnings per share (in shares)	40,564	47,223

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Fair Value of Derivatives (Details) - USD ($) $ in Thousands	Jul. 01, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	$ 437	$ 1,404
Commodity forward contracts | Other accrued expenses
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	(2,311)	(3,854)
Commodity forward contracts | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	93	0
Foreign currency forward contracts | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	0	83
Cross currency swap contracts | Other accrued expenses
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	(319)	(210)
Cross currency swap contracts | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	$ 2,974	$ 5,385

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Gain (Loss) on Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023	Jun. 25, 2022	Jul. 01, 2023	Jun. 25, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ (565)	$ (1,062)	$ (4,023)	$ 1,888
Commodity forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ (1,078)	$ (1,545)	$ (5,063)	$ 498
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of Goods and Services Sold	Cost of Goods and Services Sold	Cost of Goods and Services Sold	Cost of Goods and Services Sold
Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ 80	$ (234)	$ 177	$ (85)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ (16)	$ (16)	$ (32)	$ (32)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense	Interest Expense	Interest Expense	Interest Expense
Cross currency swap contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ 449	$ 733	$ 895	$ 1,507
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense	Interest Expense	Interest Expense	Interest Expense

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) - Senior Unsecured Notes 5.00% Due 2044 - Senior Notes [Member] $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 25, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 28, 2019 USD ($) derivative
DERIVATIVE FINANCIAL INSTRUMENTS
Stated rate			5%
Cross currency swap contracts
DERIVATIVE FINANCIAL INSTRUMENTS
Number of foreign currency derivatives held | derivative			2
Net Investment Hedging | Cross currency swap contracts
DERIVATIVE FINANCIAL INSTRUMENTS
Other Comprehensive Income (Loss) before Tax		$ 4,827
Other comprehensive income (loss), foreign currency transaction upon sale or liquidation, net of tax		$ (3,620)
Net Investment Hedging | Designated as Hedging Instrument | Cross currency swap contracts
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative, notional amount			$ 130,000
Received proceeds	$ 3,532

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS - Cash flow hedges (Details) - Designated as Hedging Instrument $ in Thousands	6 Months Ended
	Jul. 01, 2023 USD ($) MMBTU T gal	Apr. 01, 2023 USD ($)
Cash Flow Hedging | Steel hot rolled coil ("HRC") forward contracts | Long
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative, notional amount	$ 23,224
Derivative, nonmonetary notional amount, mass | T	27,000
Cash Flow Hedging | Natural Gas Forward Contract | Long
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative, notional amount	$ 5,391
Derivative, nonmonetary notional amount, energy measure | MMBTU	1,154,000
Cash Flow Hedging | Diesel Fuel Forward Contract | Long
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative, notional amount	$ 755
Derivative, nonmonetary notional amount, volume measure | gal	1,890,000
Fair value hedging | Foreign currency forward contracts | Euro Member Countries, Euro
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative, notional amount		$ 1,800

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Notional Amounts Outstanding (Details) - Designated as Hedging Instrument - Net Investment Hedging - Euro Member Countries, Euro - Cross Currency Interest Rate Contract, Two € in Thousands, $ in Thousands	Jul. 01, 2023 USD ($)	Jul. 01, 2023 EUR (€)
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative, notional amount	$ 80,000	€ 71,550
Swapped Interest Rate	2.825%	2.825%

BUSINESS SEGMENTS & RELATED R_3

BUSINESS SEGMENTS & RELATED REVENUE INFORMATION (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2023 USD ($)	Jun. 25, 2022 USD ($)	Jul. 01, 2023 USD ($) segment	Jun. 25, 2022 USD ($)
Business Segments
Number of reportable segments | segment			2
Net sales	$ 1,046,296	$ 1,135,532	$ 2,108,777	$ 2,116,352
Operating income (loss)	133,733	118,719	252,199	213,561
Pre-tax gain on sale of engineering and equipment			2,994	0
Point in Time
Business Segments
Net sales	722,696	797,466	1,458,119	1,464,262
Over Time
Business Segments
Net sales	323,600	338,066	650,658	652,090
Transmission, Distribution and Substation
Business Segments
Net sales	314,307	295,835	629,127	577,435
Lighting and Transportation
Business Segments
Net sales	246,123	246,652	475,259	459,419
Coatings
Business Segments
Net sales	89,302	86,121	175,864	164,996
Telecommunications
Business Segments
Net sales	67,738	78,539	135,875	139,935
Solar
Business Segments
Net sales	50,688	53,603	84,173	96,590
Irrigation Equipment and Parts
Business Segments
Net sales	250,662	344,602	548,021	619,251
Technology Products and Services
Business Segments
Net sales	27,476	30,180	60,458	58,726
North America
Business Segments
Net sales	724,681	756,636	1,486,259	1,438,385
International
Business Segments
Net sales	321,615	378,896	622,518	677,967
Infrastructure
Business Segments
Net sales	768,158	735,318	1,500,298	1,394,289
Operating income (loss)	115,950	84,127	210,302	162,443
Infrastructure | Point in Time
Business Segments
Net sales	451,885	429,291	863,102	798,481
Infrastructure | Over Time
Business Segments
Net sales	316,273	306,027	637,196	595,808
Agriculture
Business Segments
Net sales	278,138	374,782	608,479	677,977
Operating income (loss)	49,251	58,046	102,574	95,521
Agriculture | Point in Time
Business Segments
Net sales	270,811	368,175	595,017	665,781
Agriculture | Over Time
Business Segments
Net sales	7,327	6,607	13,462	12,196
Other Segments
Business Segments
Net sales		25,432		44,086
Operating income (loss)		516		(293)
Other Segments | Over Time
Business Segments
Net sales		25,432		44,086
Corporate
Business Segments
Operating income (loss)	(31,468)	(23,970)	(60,677)	(44,110)
Operating segment
Business Segments
Net sales	1,050,528	1,142,715	2,118,797	2,130,021
Operating segment | Infrastructure
Business Segments
Net sales	770,595	739,518	1,506,701	1,401,590
Operating segment | Infrastructure | Transmission, Distribution and Substation
Business Segments
Net sales	314,307	295,835	629,127	577,435
Operating segment | Infrastructure | Lighting and Transportation
Business Segments
Net sales	246,123	246,652	475,259	459,419
Operating segment | Infrastructure | Coatings
Business Segments
Net sales	91,120	90,321	181,234	172,297
Operating segment | Infrastructure | Telecommunications
Business Segments
Net sales	67,738	78,539	135,875	139,935
Operating segment | Infrastructure | Solar
Business Segments
Net sales	51,307	28,171	85,206	52,504
Operating segment | Infrastructure | North America
Business Segments
Net sales	587,313	559,864	1,171,396	1,065,844
Operating segment | Infrastructure | International
Business Segments
Net sales	183,282	179,654	335,305	335,746
Operating segment | Agriculture
Business Segments
Net sales	279,933	377,765	612,096	684,345
Operating segment | Agriculture | Irrigation Equipment and Parts
Business Segments
Net sales	252,457	347,585	551,638	625,619
Operating segment | Agriculture | Technology Products and Services
Business Segments
Net sales	27,476	30,180	60,458	58,726
Operating segment | Agriculture | North America
Business Segments
Net sales	140,981	203,488	323,850	385,743
Operating segment | Agriculture | International
Business Segments
Net sales	138,952	174,277	288,246	298,602
Operating segment | Other Segments
Business Segments
Net sales		25,432		44,086
Operating segment | Other Segments | Solar
Business Segments
Net sales		25,432		44,086
Operating segment | Other Segments | International
Business Segments
Net sales		25,432		44,086
Intersegment
Business Segments
Net sales	(4,232)	(7,183)	(10,020)	(13,669)
Intersegment | Coatings
Business Segments
Net sales	(1,818)	(4,200)	(5,370)	(7,301)
Intersegment | Solar
Business Segments
Net sales	(619)		(1,033)
Intersegment | Irrigation Equipment and Parts
Business Segments
Net sales	(1,795)	(2,983)	(3,617)	(6,368)
Intersegment | North America
Business Segments
Net sales	(3,613)	(6,716)	(8,987)	(13,202)
Intersegment | International
Business Segments
Net sales	(619)	(467)	(1,033)	(467)
Intersegment | Infrastructure
Business Segments
Net sales	(2,437)	(4,200)	(6,403)	(7,301)
Intersegment | Agriculture
Business Segments
Net sales	$ (1,795)	$ (2,983)	$ (3,617)	$ (6,368)