Valmont Industries (VMI) 10-Q 31 Jul 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 29, 2024	Jul. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 29, 2024
Current Fiscal Year End Date	--12-28
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		20,165,853
Entity Central Index Key	0000102729
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Net sales	$ 1,039,737	$ 1,046,296	$ 2,017,565	$ 2,108,777
Total cost of sales	719,455	716,899	1,391,067	1,470,795
Gross profit	320,282	329,397	626,498	637,982
Selling, general, and administrative expenses	172,974	195,664	347,637	385,783
Operating income	147,308	133,733	278,861	252,199
Other income (expenses):
Interest expense	15,846	14,917	32,067	28,022
Interest income	1,499	563	3,278	1,393
Gain on deferred compensation investments	525	941	1,956	2,135
Gain on divestitures		2,994		2,994
Other	(1,250)	(2,382)	(1,355)	(4,758)
Total other income (expenses)	(15,072)	(12,801)	(28,188)	(26,258)
Earnings before income taxes and equity in loss of nonconsolidated subsidiaries	132,236	120,932	250,673	225,941
Income tax expense (benefit):
Current	40,961	37,791	60,605	62,147
Deferred	(9,894)	(5,856)	450	1,631
Total income tax expense	31,067	31,935	61,055	63,778
Earnings before equity in loss of nonconsolidated subsidiaries	101,169	88,997	189,618	162,163
Equity in loss of nonconsolidated subsidiaries	(19)	(199)	(39)	(1,020)
Net earnings	101,150	88,798	189,579	161,143
Loss (earnings) attributable to redeemable noncontrolling interests	(1,434)	578	(2,041)	2,773
Net earnings attributable to Valmont Industries, Inc.	$ 99,716	$ 89,376	$ 187,538	$ 163,916
Net earnings attributable to Valmont Industries, Inc. per share:
Basic	$ 4.94	$ 4.25	$ 9.29	$ 7.75
Diluted	$ 4.91	$ 4.21	$ 9.24	$ 7.67
Product sales
Net sales	$ 928,479	$ 945,873	$ 1,803,157	$ 1,903,881
Total cost of sales	651,731	651,413	1,256,946	1,333,203
Service sales
Net sales	111,258	100,423	214,408	204,896
Total cost of sales	$ 67,724	$ 65,486	$ 134,121	$ 137,592

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net earnings	$ 101,150	$ 88,798	$ 189,579	$ 161,143
Foreign currency translation adjustments:
Unrealized translation gain (loss)	(18,768)	11,967	(40,186)	20,156
Hedging activities:
Unrealized loss on commodity hedges	(1,498)	(1,339)	(2,059)	(2,815)
Realized loss (gain) on commodity hedges included in earnings	298	925	(419)	3,797
Unrealized gain (loss) on cross currency swaps	816	(760)	1,011	(1,351)
Amortization cost included in interest expense	(12)	(12)	(24)	(28)
Total hedging activities	(396)	(1,186)	(1,491)	(397)
Net gain on defined benefit pension plan	381	95	762	186
Total other comprehensive income, (loss), net of tax	(18,783)	10,876	(40,915)	19,945
Comprehensive income	82,367	99,674	148,664	181,088
Comprehensive loss (income) attributable to redeemable noncontrolling interests	(1,269)	233	(1,719)	2,135
Comprehensive income attributable to Valmont Industries, Inc.	$ 81,098	$ 99,907	$ 146,945	$ 183,223

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Current assets:
Cash and cash equivalents	$ 163,142	$ 203,041
Receivables, net	703,255	657,960
Inventories	633,232	658,428
Contract assets	191,846	175,721
Prepaid expenses and other current assets	92,560	92,479
Total current assets	1,784,035	1,787,629
Property, plant, and equipment, at cost	1,524,355	1,513,239
Less accumulated depreciation	(920,029)	(895,845)
Property, plant, and equipment, net	604,326	617,394
Goodwill	630,232	632,964
Other intangible assets, net	142,527	150,687
Defined pension benefit asset	33,853	15,404
Other non-current assets	262,229	273,370
Total assets	3,457,202	3,477,448
Current liabilities:
Current installments of long-term debt	569	719
Notes payable to banks	1,876	3,205
Accounts payable	353,729	358,311
Accrued employee compensation and benefits	108,009	130,861
Contract liabilities	68,811	70,978
Other accrued expenses	139,515	146,903
Income taxes payable	20,427	0
Dividends payable	12,098	12,125
Total current liabilities	705,034	723,102
Deferred income taxes	18,675	21,205
Long-term debt, excluding current installments	1,017,543	1,107,885
Operating lease liabilities	154,247	162,743
Deferred compensation	32,550	32,623
Other non-current liabilities	11,423	12,818
Total liabilities	1,939,472	2,060,376
Redeemable noncontrolling interests	46,249	62,792
Shareholders' equity:
Common stock of $1 par value, authorized 75,000,000 shares; issued 27,900,000	27,900	27,900
Additional paid-in capital	5,135	0
Retained earnings	2,806,933	2,643,606
Accumulated other comprehensive loss	(313,829)	(273,236)
Treasury stock	(1,054,658)	(1,043,990)
Total shareholders' equity	1,471,481	1,354,280
Total liabilities, redeemable noncontrolling interests, and shareholders' equity	$ 3,457,202	$ 3,477,448

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 29, 2024	Dec. 30, 2023
CONDENSED CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share)	$ 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
	Jun. 29, 2024	Jul. 01, 2023
Cash flows from operating activities:
Net earnings	$ 189,579	$ 161,143
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and amortization	46,526	48,792
Contribution to defined benefit pension plan	(18,009)	(15,259)
Gain on divestiture		(2,994)
Stock-based compensation	14,108	19,856
Net periodic pension cost	317	122
Loss on sale of property, plant, and equipment	315	1,297
Equity in loss of nonconsolidated subsidiaries	39	1,020
Deferred income taxes	450	1,631
Changes in assets and liabilities:
Receivables	(62,930)	(38,147)
Inventories	14,800	6,402
Contract assets	(16,141)	20,052
Prepaid expenses and other assets (current and non-current)	(9,784)	(26,001)
Accounts payable	1,224	(20,750)
Contract liabilities	(47)	(53,728)
Accrued expenses	(28,388)	(11,202)
Income taxes payable	22,961	24,395
Other non-current liabilities	(877)	(7,083)
Net cash flows from operating activities	154,143	109,546
Cash flows from investing activities:
Purchase of property, plant, and equipment	(33,328)	(45,393)
Proceeds from divestiture, net of cash divested		6,369
Proceeds from sale of assets	226	1,261
Proceeds from property damage insurance claims		4,844
Other, net	(3,402)	(1,127)
Net cash flows from investing activities	(36,504)	(34,046)
Cash flows from financing activities:
Proceeds from short-term borrowings	6,093	14,905
Repayments on short-term borrowings	(7,368)	(19,598)
Proceeds from long-term borrowings	15,009	165,012
Principal payments on long-term borrowings	(105,349)	(84,105)
Proceeds from settlement of financial derivatives	2,711	0
Dividends paid	(24,239)	(24,376)
Dividends to redeemable noncontrolling interests	(664)	(662)
Purchase of redeemable noncontrolling interests	(17,745)	0
Repurchases of common stock	(14,941)	(135,115)
Proceeds from exercises under stock plans	4,333	5,201
Tax withholdings on exercises under stock plans	(8,715)	(15,416)
Net cash flows from financing activities	(150,875)	(94,154)
Effect of exchange rate changes on cash and cash equivalents	(6,663)	155
Net change in cash and cash equivalents	(39,899)	(18,499)
Cash and cash equivalents-beginning of period	203,041	185,406
Cash and cash equivalents-end of period	$ 163,142	$ 166,907

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS ' EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS - USD ($) $ in Thousands	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Treasury stock	Redeemable noncontrolling interests	Total
Increase (Decrease) in Shareholders' Equity
Treasury stock balance					$ (765,183)
Total shareholders' equity - Beginning balance at Dec. 31, 2022	$ 27,900		$ 2,593,039	$ (274,909)			$ 1,580,847
Redeemable noncontrolling interests - Beginning balance at Dec. 31, 2022						$ 60,865
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)			74,540			(2,195)	74,540
Other comprehensive income (loss)				8,776		293	8,776
Cash dividends declared			(12,634)				(12,634)
Repurchases of common stock					(111,115)		(111,115)
Dividends to redeemable noncontrolling interests						(662)
Stock option and incentive plans			(19,317)		19,002		(315)
Total shareholders' equity - Ending balance at Apr. 01, 2023	27,900		2,635,628	(266,133)			1,540,099
Redeemable noncontrolling interests - Ending balance at Apr. 01, 2023						58,301
Total shareholders' equity - Beginning balance at Dec. 31, 2022	27,900		2,593,039	(274,909)			1,580,847
Redeemable noncontrolling interests - Beginning balance at Dec. 31, 2022						60,865
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)							163,916
Total shareholders' equity - Ending balance at Jul. 01, 2023	27,900		2,710,382	(255,602)	(870,456)	58,068	1,612,224
Increase (Decrease) in Shareholders' Equity
Treasury stock balance					(857,296)
Total shareholders' equity - Beginning balance at Apr. 01, 2023	27,900		2,635,628	(266,133)			1,540,099
Redeemable noncontrolling interests - Beginning balance at Apr. 01, 2023						58,301
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)			89,376			(578)	89,376
Other comprehensive income (loss)				10,531		345	10,531
Cash dividends declared			(12,607)				(12,607)
Repurchases of common stock					(25,132)		(25,132)
Stock option and incentive plans			(2,015)		11,972		9,957
Total shareholders' equity - Ending balance at Jul. 01, 2023	27,900		2,710,382	(255,602)	(870,456)	58,068	1,612,224
Increase (Decrease) in Shareholders' Equity
Treasury stock balance					(1,043,990)		(1,043,990)
Total shareholders' equity - Beginning balance at Dec. 30, 2023	27,900		2,643,606	(273,236)			1,354,280
Redeemable noncontrolling interests - Beginning balance at Dec. 30, 2023						62,792	62,792
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)			87,822			607	87,822
Other comprehensive income (loss)				(21,975)		(157)	(21,975)
Cash dividends declared			(12,113)				(12,113)
Repurchases of common stock		$ 21,074			(21,124)		(50)
Dividends to redeemable noncontrolling interests						(664)
Purchase of redeemable noncontrolling interests		(147)				(17,598)	(147)
Stock option and incentive plans		(15,259)			16,733		1,474
Total shareholders' equity - Ending balance at Mar. 30, 2024	27,900	5,668	2,719,315	(295,211)			1,409,291
Redeemable noncontrolling interests - Ending balance at Mar. 30, 2024						44,980
Total shareholders' equity - Beginning balance at Dec. 30, 2023	27,900		2,643,606	(273,236)			1,354,280
Redeemable noncontrolling interests - Beginning balance at Dec. 30, 2023						62,792	62,792
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)							187,538
Total shareholders' equity - Ending balance at Jun. 29, 2024	27,900	5,135	2,806,933	(313,829)	(1,054,658)	46,249	1,471,481
Redeemable noncontrolling interests - Ending balance at Jun. 29, 2024							46,249
Increase (Decrease) in Shareholders' Equity
Treasury stock balance					(1,048,381)
Total shareholders' equity - Beginning balance at Mar. 30, 2024	27,900	5,668	2,719,315	(295,211)			1,409,291
Redeemable noncontrolling interests - Beginning balance at Mar. 30, 2024						44,980
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)			99,716			1,434	99,716
Other comprehensive income (loss)				(18,618)		(165)	(18,618)
Cash dividends declared			(12,098)				(12,098)
Repurchases of common stock					(15,061)		(15,061)
Stock option and incentive plans		(533)			8,784		8,251
Total shareholders' equity - Ending balance at Jun. 29, 2024	$ 27,900	$ 5,135	$ 2,806,933	$ (313,829)	$ (1,054,658)	$ 46,249	1,471,481
Redeemable noncontrolling interests - Ending balance at Jun. 29, 2024							46,249
Increase (Decrease) in Shareholders' Equity
Treasury stock balance							$ (1,054,658)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS ' EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (Parenthetical) - $ / shares	3 Months Ended
	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023	Apr. 01, 2023
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS ' EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS
Cash dividends per share (in dollars per share)	$ 0.60	$ 0.60	$ 0.60	$ 0.60
Purchase of treasury shares acquired (in shares)	59,186	96,224	85,300	356,887

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 29, 2024
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 Sheets as of June 29, 2024 and December 30, 2023 and the Condensed Consolidated Statements of Earnings, Comprehensive Income, Cash Flows, and Shareholders’ Equity and Redeemable Noncontrolling Interests for the thirteen and twenty-six weeks ended June 29, 2024 and July 1, 2023 have been prepared by Valmont Industries, Inc. (the “Company”) without audit. In the opinion of the Company’s management, all necessary adjustments, which include normal and recurring adjustments, have been made to present fairly the financial statements as of June 29, 2024 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 30, 2023. The results of operations for the period ended June 29, 2024 are not necessarily indicative of the operating results for the full fiscal year. Inventories Inventories are valued at the lower of cost, determined by the first-in, first-out method, or net realizable value. Finished and manufactured goods inventories include the costs of acquired raw materials and the related factory labor and overhead charges required to convert raw materials to finished and manufactured goods. Inventories as of June 29, 2024 and December 30, 2023 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 29, ​ December 30, ​ ​ 2024 2023 Raw materials and purchased parts ​ $ 233,957 ​ $ 217,134 Work in process ​ 42,716 ​ 37,826 Finished and manufactured goods ​ 356,559 ​ 403,468 Total inventories ​ $ 633,232 ​ $ 658,428 ​ Geographical Markets Earnings before income taxes and equity in loss of nonconsolidated subsidiaries for the thirteen and twenty-six weeks ended June 29, 2024 and July 1, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ June 29, ​ July 1, ​ June 29, ​ July 1, ​ ​ 2024 2023 2024 2023 United States ​ $ 94,731 ​ $ 77,066 ​ $ 180,943 ​ $ 108,924 Foreign ​ 37,505 ​ 43,866 ​ 69,730 ​ 117,017 Earnings before income taxes and equity in loss of nonconsolidated subsidiaries ​ $ 132,236 ​ $ 120,932 ​ $ 250,673 ​ $ 225,941 ​ Pension Costs The Company incurs costs 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 who are active employees. In order to measure the cost and the related benefit obligation, various assumptions are made including the discount rates used to value the obligation, the expected return on plan assets used to fund the costs, and the 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 cost and liability associated with pension benefits. The components of the net periodic pension cost for the thirteen and twenty-six weeks ended June 29, 2024 and July 1, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ June 29, ​ July 1, ​ June 29, ​ July 1, ​ ​ 2024 2023 2024 2023 Interest cost ​ $ 5,242 ​ $ 5,414 ​ $ 10,484 ​ $ 10,670 Expected return on plan assets ​ (5,591) ​ (5,477) ​ (11,183) ​ (10,794) Amortization of prior service costs ​ 127 ​ 124 ​ 254 ​ 246 Amortization of net actuarial loss ​ 381 ​ — ​ 762 ​ — Net periodic pension cost ​ $ 159 ​ $ 61 ​ $ 317 ​ $ 122 ​ 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 June 29, 2024, 1,466,563 shares of common stock remained available for issuance under the plans. Stock options granted under the plans call for the exercise price of each option to equal 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. The expiration of grants is seven three The Company’s stock-based compensation (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 awards for the thirteen and twenty-six weeks ended June 29, 2024 and July 1, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ June 29, ​ July 1, ​ June 29, ​ July 1, ​ ​ 2024 2023 2024 2023 Stock-based compensation ​ $ 6,925 ​ $ 11,167 ​ $ 14,108 ​ $ 19,856 Income tax benefits ​ 1,731 ​ 2,792 ​ 3,527 ​ 4,964 ​ Fair Value The Company applies the provisions of the Financial Accounting Standards Board (“FASB”) 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 when 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 prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. ● Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. ● Level 3: Unobservable inputs for the asset or liability. The categorization within the valuation hierarchy is based on the lowest level input that is significant to the fair value measurement. The following are descriptions of the valuation methodologies used for assets and liabilities measured at fair value. Deferred Compensation Investments: Derivative Financial Instruments: Mutual Funds: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Fair Value Measurement Using: ​ ​ June 29, 2024 ​ Level 1 ​ Level 2 ​ Level 3 Deferred compensation investments ​ $ 26,493 ​ $ 26,493 ​ $ — ​ $ — Derivative financial instruments, net ​ ​ (1,613) ​ ​ — ​ ​ (1,613) ​ ​ — Cash and cash equivalents—mutual funds ​ ​ 4,425 ​ ​ 4,425 ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Fair Value Measurement Using: ​ ​ December 30, 2023 ​ Level 1 ​ Level 2 ​ Level 3 Deferred compensation investments ​ $ 26,803 ​ $ 26,803 ​ $ — ​ $ — Derivative financial instruments, net ​ ​ 2,860 ​ ​ — ​ ​ 2,860 ​ ​ — Cash and cash equivalents—mutual funds ​ ​ 6,258 ​ ​ 6,258 ​ ​ — ​ ​ — ​ Long-Lived Assets The Company’s other non-financial assets include goodwill and other intangible assets, which are measured at fair value on a non-recurring basis using Level 3 inputs. See Note 5 for further information. 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 (Loss) Comprehensive income (loss) includes net earnings, foreign currency translation adjustments, certain derivative-related activity, and changes in prior service costs and net actuarial losses 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 June 29, 2024 and December 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 29, ​ December 30, ​ ​ 2024 2023 Foreign currency translation adjustments ​ $ (276,554) ​ $ (236,690) Hedging activities ​ ​ 19,498 ​ ​ 20,989 Defined benefit pension plan ​ ​ (56,773) ​ ​ (57,535) Accumulated other comprehensive loss ​ $ (313,829) ​ $ (273,236) ​ 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 manufacture 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 product line and Technology Products and Services product line. 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 manufacturing commences and the product is manufactured and delivered to the customer. The Company is generally not entitled to any compensation solely based on the design of the product and does not recognize this service as a separate performance obligation, therefore, no revenue is recognized for design services. 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 within cost of sales. 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”), Solar, and Telecommunications product lines, the Company’s inventory is interchangeable for a variety of each segment’s customers. The Company has elected not to 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 one year of transfer of control of goods or services. Most of the Company’s customers are invoiced upon shipment or delivery of the goods to the customer’s specified location. As revenue is recognized over time, contract assets are recorded, and such contract assets are relieved when the customer is invoiced. As of June 29, 2024 and December 30, 2023, total contract assets were $191,846 and $175,721, respectively, and were recorded as “Contract assets” in the Condensed Consolidated Balance Sheets. Certain customers are also invoiced by advanced billings or progress billings. When progress on performance obligations is less than the amount the customer has been billed, a contract liability is recognized. As of June 29, 2024 and December 30, 2023, total contract liabilities were $68,811 and $70,978, respectively, and were recorded as “Contract liabilities” in the Condensed Consolidated Balance Sheets. Additional details are as follows: ● During the thirteen and twenty-six weeks ended June 29, 2024, the Company recognized $ 7,230 and $ 41,509 of revenue that was included in the total contract liability as of December 30, 2023, 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 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. ● As of June 29, 2024, the Company had no material remaining performance obligations on contracts with an expected duration of one year or more. Segment and Product Line Revenue Recognition Infrastructure Segment Steel and concrete structures within the TD&S and Telecommunications product lines are engineered to customer specifications resulting in limited ability to sell the structures 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 transferred over time, revenue is recognized based on the extent of progress toward completion of the performance obligation. The selection of the method to measure progress toward completion requires judgment. For the structures manufactured within the TD&S and Telecommunications product lines, the Company generally recognizes revenue on an inputs basis, using total production hours incurred to date for each order as a percentage of total hours estimated to complete the order. The completion percentage is applied to the order’s total revenue and total estimated costs to determine reported revenue, cost of sales, 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 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 product line 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 the Lighting and Transportation product line 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. Some large regional customers 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 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 the Technology Products and Services product line are primarily billed annually and revenue is recognized on a straight-line basis over the contract period. The disaggregation of revenue by product line is disclosed in Note 9. Supplier Finance Program During fiscal 2019, the Company entered into an agreement with a third-party financial institution to facilitate a supplier finance program that allows qualifying suppliers to sell their receivables from the Company to the financial institution. These participating suppliers negotiate their outstanding receivable arrangements directly with the financial institution and the Company’s rights and obligations to suppliers are not impacted. The Company has no economic interest in a supplier’s decision to enter into these agreements. Once a qualifying supplier elects to participate in the supplier finance program and reaches an agreement with a financial institution, they elect which individual Company invoices they sell to the financial institution. The Company’s obligation is to make payment in the invoice amount negotiated with participating suppliers to the financial institution on the invoice due date, regardless of whether the individual invoice is sold by the supplier to the financial institution. The financial institution pays the supplier on the invoice due date for any invoices that were not previously sold under the supplier finance program. The invoice amounts and scheduled payment terms are not impacted by the suppliers’ decisions to sell amounts under these arrangements. The payment of these obligations is included in “Net cash flows from operating activities” in the Condensed Consolidated Statements of Cash Flows. Included in “Accounts payable” in the Condensed Consolidated Balance Sheets as of June 29, 2024 and December 30, 2023 were $41,509 and $41,916 of outstanding payment obligations, respectively, that were sold to the financial institution under the Company’s supplier finance program. ​ ​ ​ ​ ​ Confirmed obligations outstanding as of December 30, 2023 ​ $ 41,916 Invoices confirmed during the period ​ ​ 108,504 Confirmed invoices paid during the period ​ (108,911) Confirmed obligations outstanding as of June 29, 2024 ​ $ 41,509 ​ Redeemable Noncontrolling Interests Subsequent to the issuance of the Company’s Consolidated Financial Statements as of and for the period ended July 1, 2023, the Company identified an error in the presentation of “Noncontrolling interests in consolidated subsidiaries” of $60,865 as of December 31, 2022, $58,301 as of April 1, 2023, and $58,068 as of July 1, 2023 Noncontrolling interests with redemption features that are not solely within the Company’s control are considered redeemable noncontrolling interests. The Company has redeemable noncontrolling interests in certain entities. The seller can require the Company to purchase their remaining ownership, known as a put right, for an amount and on a date specified in the applicable operating agreement. Likewise, the Company can require the seller to sell the Company their remaining ownership based on the same amount and timing, known as a call option. As a result of these redemption features, the Company records the noncontrolling interests as redeemable and classifies the balances in temporary equity in the Condensed Consolidated Balance Sheets initially at its acquisition-date fair value. The Company adjusts the redeemable noncontrolling interests each reporting period for the net income (loss) attributable to the noncontrolling interests and any redemption value adjustments. The redeemable noncontrolling interest is accreted to the future redemption value using the effective interest method up to the date on which the put right becomes effective. Any accretion adjustment in the current reporting period of the redeemable noncontrolling interest is offset against retained earnings and impacts earnings used in the calculation of earnings per share in the reporting period. As of June 29, 2024 and December 30, 2023, the redeemable noncontrolling interests were $46,249 and $62,792, respectively. The ultimate amount paid for the redeemable noncontrolling interests could be significantly different because the redemption amounts depend on the future results of the operations of the businesses. Treasury Stock Repurchased shares are recorded as “Treasury stock” and result in a reduction of “Shareholders’ equity” in the Condensed Consolidated Balance Sheets. When treasury shares are re-issued, the Company uses the last-in, first-out method, and the difference between the repurchase cost and re-issuance price is charged or credited to “Additional paid-in capital”. In May 2014, the Company announced a capital allocation philosophy that covered a share repurchase program. Specifically, the Board of Directors at that time authorized the purchase of up to $500,000 of the Company’s outstanding common stock from time to time over twelve months at prevailing market prices, through open market or privately negotiated transactions. In February 2015 and again in October 2018, the Board of Directors authorized an additional purchase of up to $250,000 of the Company’s outstanding common stock with no stated expiration date. In February 2023, the Board of Directors increased the amount remaining under the program by an additional $400,000, with no stated expiration date, bringing the total authorization to $1,400,000. As of June 29, 2024, the Company has acquired 8,051,134 shares for $1,278,832 under this share repurchase program. In November 2023, the Company entered into an accelerated purchase agreement to repurchase $120,000 of the Company’s outstanding common stock (“November 2023 ASR”) with CitiBank, N.A. as counterparty. The November 2023 ASR was entered into under the Company’s previously announced share repurchase program described above. The Company pre-paid $120,000 in the fourth quarter of fiscal 2023 and received an initial delivery of 438,917 shares of common stock. The agreement was settled with the delivery of an additional 96,224 shares of common stock in the first quarter of fiscal 2024. The total number of shares ultimately delivered under the November 2023 ASR, and therefore the average purchase price paid per share of $224.24, was determined based on the volume-weighted average market price of the Company’s common stock during the term of the agreement, less a discount. Recently Issued Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued Accounting Standards Update No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 29, 2024
Business Combinations [Abstract]
ACQUISITIONS	(2) ACQUISITIONS Acquisition of Business On August 31, 2023, the Company acquired HR Products for $58,044 Australian dollars ($37,302 United States (“U.S.”) dollars) in cash (net of cash acquired) and subject to working capital adjustments. Of this amount, $7,200 Australian dollars ($4,626 U.S. dollars) was withheld by the Company at closing as a retention fund, to be settled in two equal payments at 12 and 24 months from the acquisition date for contingencies and disagreements. HR Products provides a broad range of irrigation products to serve the agriculture and landscaping industries and its operations are reported in the Agriculture segment. The acquisition strengthens the Company’s value proposition to customers in the key agriculture market of Australia by expanding its geographic footprint and accelerating its aftermarket parts presence. The customer relationships will be amortized over 13 years. The amount allocated to goodwill is attributable to anticipated synergies and other intangibles that do not qualify for separate recognition and is not deductible for tax purposes. The Company is currently completing its fair value assessment and expects to finalize the purchase price allocation by the third quarter of fiscal 2024. The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed of HR Products as of the date of acquisition: ​ ​ ​ ​ ​ ​ August 31, ​ ​ 2023 Current assets ​ $ 24,153 Property, plant, and equipment ​ 1,397 Goodwill ​ 9,912 Customer relationships ​ ​ 11,503 Other non-current assets ​ 3,997 Total fair value of assets acquired ​ ​ 50,962 Current liabilities ​ 4,183 Deferred income taxes ​ 3,450 Operating lease liabilities ​ 2,792 Total fair value of liabilities assumed ​ ​ 10,425 Net assets acquired ​ $ 40,537 ​ 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 periods presented. Acquisitions of Redeemable Noncontrolling Interests In the first quarter of fiscal 2024, the Company acquired approximately 9% of ConcealFab for $7,227 and acquired the remaining portion of Valmont Substations, LLC for $10,518. These transactions were for the acquisitions of portions of the remaining shares of consolidated subsidiaries with no changes in control.

DIVESTITURES

DIVESTITURES	6 Months Ended
	Jun. 29, 2024
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. In the second quarter of fiscal 2023, a pre-tax gain of $2,994 was reported in “ Other income (expenses)

REALIGNMENT ACTIVITIES

REALIGNMENT ACTIVITIES	6 Months Ended
	Jun. 29, 2024
Restructuring and Related Activities [Abstract]
REALIGNMENT ACTIVITIES	(4) REALIGNMENT ACTIVITIES During the third quarter of fiscal 2023, management initiated a plan to streamline segment support across the Company and reduce costs through an organizational realignment program (the “Realignment Program”). The Realignment Program provided for a reduction in force through a voluntary early retirement program and other headcount reduction actions, which were completed as of December 30, 2023. The Board of Directors authorized the incurrence of cash charges up to $36,000 in connection with the Realignment Program. During the fiscal year ended December 30, 2023, the Company recorded the following cumulative pre-tax expenses for the Realignment Program: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure ​ Agriculture ​ Corporate ​ Total Severance and other employee benefit costs ​ $ 17,260 ​ $ 9,101 ​ $ 8,849 ​ $ 35,210 ​ Changes in liabilities recorded for the Realignment Program were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of Recognized Costs Paid or Balance as of ​ ​ December 30, ​ Realignment ​ Otherwise ​ June 29, ​ ​ 2023 ​ Expense ​ Settled ​ 2024 Severance and other employee benefit costs ​ $ 12,514 $ — ​ $ (10,625) ​ $ 1,889 ​

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	(5) GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The carrying amount of goodwill by segment as of June 29, 2024 and December 30, 2023 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure Agriculture Total Gross balance as of December 30, 2023 ​ $ 478,663 ​ $ 323,683 ​ $ 802,346 Accumulated impairment losses ​ (49,382) ​ (120,000) ​ (169,382) Balance as of December 30, 2023 ​ 429,281 ​ 203,683 ​ ​ 632,964 Acquisition measurement period adjustment ​ — ​ 735 ​ 735 Foreign currency translation ​ (2,801) ​ (666) ​ (3,467) Balance as of June 29, 2024 ​ $ 426,480 ​ $ 203,752 ​ $ 630,232 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure Agriculture Total Gross balance as of June 29, 2024 ​ $ 475,862 ​ $ 323,752 ​ $ 799,614 Accumulated impairment losses ​ ​ (49,382) ​ ​ (120,000) ​ ​ (169,382) Balance as of June 29, 2024 ​ $ 426,480 ​ $ 203,752 ​ $ 630,232 ​ Other Intangible Assets The components of other intangible assets as of June 29, 2024 and December 30, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 29, 2024 December 30, 2023 ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ ​ ​ Carrying ​ Accumulated Carrying ​ Accumulated ​ Amount Amortization Amount Amortization Amortizing intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ $ 232,263 ​ $ 162,853 ​ $ 233,852 ​ $ 157,873 Patents & proprietary technology ​ 59,273 ​ 46,158 ​ 59,311 ​ 45,416 Trade names ​ 2,870 ​ ​ 1,265 ​ 2,870 ​ 1,056 Other ​ 4,410 ​ 4,263 ​ 4,787 ​ 4,538 Non-amortizing intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trade names ​ ​ 58,250 ​ ​ — ​ ​ 58,750 ​ ​ — ​ ​ $ 357,066 ​ $ 214,539 ​ $ 359,570 ​ $ 208,883 ​ Amortizing intangible assets carry a remaining weighted-average life of approximately four years. Amortization expenses were $3,356 and $7,071 for the thirteen and twenty-six weeks ended June 29, 2024, respectively, and $5,225 and $10,415 for the thirteen and twenty-six weeks ended July 1, 2023, respectively. Based on amortizing intangible assets recognized in the Condensed Consolidated Balance Sheets as of June 29, 2024, amortization expense is estimated to average $ 10,164 for each next five fiscal

CASH FLOW SUPPLEMENTARY INFORMA

CASH FLOW SUPPLEMENTARY INFORMATION	6 Months Ended
	Jun. 29, 2024
Supplemental Cash Flow Elements [Abstract]
CASH FLOW SUPPLEMENTARY INFORMATION	(6) 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 June 29, 2024 and July 1, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ Twenty-six weeks ended ​ ​ June 29, ​ July 1, ​ ​ 2024 2023 Interest ​ $ 31,528 ​ $ 27,387 Income taxes ​ 41,071 ​ 42,504 ​

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 29, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	(7) EARNINGS PER SHARE The following table provides a reconciliation between the net earnings attributable to Valmont Industries, Inc. and weighted average share amounts used to compute both basic and diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ June 29, ​ July 1, ​ June 29, ​ July 1, ​ ​ 2024 2023 2024 2023 Net earnings attributable to Valmont Industries, Inc. ​ $ 99,716 ​ $ 89,376 ​ $ 187,538 ​ $ 163,916 Weighted average shares outstanding (000s): ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ ​ 20,175 ​ ​ 21,029 ​ ​ 20,182 ​ ​ 21,149 Dilutive effect of various stock awards ​ ​ 117 ​ ​ 200 ​ ​ 125 ​ ​ 221 Diluted ​ ​ 20,292 ​ ​ 21,229 ​ ​ 20,307 ​ ​ 21,370 Net earnings attributable to Valmont Industries, Inc. per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ $ 4.94 ​ $ 4.25 ​ $ 9.29 ​ $ 7.75 Dilutive effect of various stock awards ​ ​ (0.03) ​ ​ (0.04) ​ ​ (0.05) ​ ​ (0.08) Diluted ​ $ 4.91 ​ $ 4.21 ​ $ 9.24 ​ $ 7.67 ​ As of June 29, 2024 and July 1, 2023, there were 56,261 and 40,564 outstanding stock options with exercise prices exceeding the average market price of common stock during the applicable period excluded from the computation of diluted earnings per share, respectively.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 29, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	(8) 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 the sale or substantially complete liquidation of the related subsidiaries. The fair value of derivative instruments as of June 29, 2024 and December 30, 2023 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidated ​ June 29, ​ December 30, Derivatives designated as hedging instruments: Balance Sheets location ​ 2024 ​ 2023 Commodity contracts ​ Prepaid expenses and other current assets ​ $ 526 ​ $ 2,520 Commodity contracts ​ Other accrued expenses ​ ​ (2,580) ​ ​ (1,586) Cross currency swap contracts Prepaid expenses and other current assets ​ ​ 441 ​ 1,938 Cross currency swap contracts Other accrued expenses ​ ​ — ​ (12) ​ ​ ​ ​ $ (1,613) ​ $ 2,860 ​ Gains (losses) on derivatives recognized in the Condensed Consolidated Statements of Earnings for the thirteen and twenty-six weeks ended June 29, 2024 and July 1, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidated ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ Statements of Earnings ​ June 29, ​ July 1, ​ June 29, ​ July 1, Derivatives designated as hedging instruments: ​ location ​ 2024 2023 2024 2023 Commodity contracts ​ Product cost of sales ​ $ (397) ​ $ (1,078) ​ $ 559 ​ $ (5,063) Foreign currency forward contracts ​ Other income (expenses) ​ ​ — ​ 80 ​ ​ — ​ 177 Interest rate hedge amortization ​ Interest expense ​ ​ (16) ​ (16) ​ ​ (32) ​ (32) Cross currency swap contracts ​ Interest expense ​ ​ 306 ​ 449 ​ ​ 686 ​ 895 ​ ​ ​ ​ $ (107) ​ $ (565) ​ $ 1,213 ​ $ (4,023) ​ Cash Flow Hedges The Company enters into commodity forward, swap, and option 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 contracts as of June 29, 2024 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional ​ Total ​ ​ Commodity Type ​ Amount ​ Purchase Quantity ​ Maturity Dates Hot-rolled coil steel ​ $ 22,178 ​ 26,500 short tons June 2024 to December 2024 Natural gas ​ ​ 2,747 ​ 639,825 MMBtu ​ June 2024 to March 2026 Diesel fuel ​ ​ 689 ​ 2,898,000 gallons ​ June 2024 to December 2025 ​ Net Investment Hedges In order to mitigate foreign currency risk on the Company’s Euro investments and to reduce interest expense, the Company enters into 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 foreign-currency‑denominated payments. Interest is exchanged twice per year on April 1 and October 1. The Company designated the initial full notional amounts as hedges of the net investment in certain 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. Key terms of the CCS net investment hedges as of June 29, 2024 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional ​ ​ ​ Swapped ​ Set Settlement Currency ​ Amount ​ Termination Date ​ Interest Rate ​ Amount Euro ​ $ 80,000 ​ April 1, 2029 3.461% ​ € 74,509 ​ In the first quarter of fiscal 2024, a Euro net investment hedge entered into in fiscal 2019 was early settled and the Company received proceeds of $2,711, which will remain in AOCI until either the sale or substantially complete liquidation of the related subsidiaries.

BUSINESS SEGMENTS & RELATED REV

BUSINESS SEGMENTS & RELATED REVENUE INFORMATION	6 Months Ended
	Jun. 29, 2024
Segment Reporting [Abstract]
BUSINESS SEGMENTS & RELATED REVENUE INFORMATION	(9) BUSINESS SEGMENTS & RELATED REVENUE INFORMATION The Company has two reportable segments based on its management structure. Each segment is global with a manager responsible for operational performance and the allocation of capital. Corporate expense is net of certain service-related expenses that are allocated to business units generally based on employee headcounts and sales dollars. Reportable segments are as follows: Infrastructure Agriculture The Company evaluates the performance of its reportable segments based on operating income and return on invested capital. The Company’s operating income for segment purposes excludes unallocated corporate general and administrative expenses, interest expenses, non-operating income and deductions, and income taxes. Summary by Business Segment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ June 29, July 1, June 29, July 1, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 SALES: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure ​ $ 762,742 ​ $ 770,595 ​ $ 1,486,356 ​ $ 1,506,701 Agriculture ​ 281,703 ​ 279,933 ​ 540,438 ​ 612,096 Total sales ​ 1,044,445 ​ 1,050,528 ​ 2,026,794 ​ 2,118,797 INTERSEGMENT SALES: ​ ​ ​ ​ ​ ​ ​ Infrastructure ​ (2,312) ​ (2,437) ​ (5,193) ​ (6,403) Agriculture ​ (2,396) ​ (1,795) ​ (4,036) ​ (3,617) Total intersegment sales ​ (4,708) ​ (4,232) ​ (9,229) ​ (10,020) NET SALES: ​ ​ ​ ​ Infrastructure ​ 760,430 ​ 768,158 ​ 1,481,163 ​ 1,500,298 Agriculture ​ 279,307 ​ 278,138 ​ 536,402 ​ 608,479 Total net sales ​ $ 1,039,737 ​ $ 1,046,296 ​ $ 2,017,565 ​ $ 2,108,777 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ OPERATING INCOME (LOSS): ​ ​ ​ ​ Infrastructure ​ $ 133,581 ​ $ 115,950 ​ $ 251,445 ​ $ 210,302 Agriculture ​ 39,971 ​ 49,251 ​ 80,944 ​ 102,574 Corporate ​ (26,244) ​ (31,468) ​ (53,528) ​ (60,677) Total operating income ​ $ 147,308 ​ $ 133,733 ​ $ 278,861 ​ $ 252,199 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended June 29, 2024 ​ ​ Infrastructure Agriculture ​ Intersegment Consolidated Geographical market: ​ ​ ​ ​ ​ ​ North America ​ $ 582,143 ​ $ 161,310 ​ $ (4,686) ​ $ 738,767 International ​ 180,599 ​ 120,393 ​ (22) ​ 300,970 Total sales ​ $ 762,742 ​ $ 281,703 ​ $ (4,708) ​ $ 1,039,737 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 323,087 ​ $ — ​ $ — ​ $ 323,087 Lighting and Transportation ​ 243,562 ​ — ​ — ​ 243,562 Coatings ​ 91,574 ​ — ​ (2,294) ​ 89,280 Telecommunications ​ 58,400 ​ — ​ — ​ 58,400 Solar ​ 46,119 ​ — ​ (18) ​ 46,101 Irrigation Equipment and Parts ​ — ​ 254,310 ​ (2,396) ​ 251,914 Technology Products and Services ​ — ​ 27,393 ​ — ​ 27,393 Total sales ​ $ 762,742 ​ $ 281,703 ​ $ (4,708) ​ $ 1,039,737 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twenty-six weeks ended June 29, 2024 ​ ​ Infrastructure Agriculture Intersegment Consolidated Geographical market: ​ ​ ​ ​ ​ North America ​ $ 1,150,715 ​ $ 321,225 ​ $ (9,152) ​ $ 1,462,788 International ​ 335,641 ​ 219,213 ​ (77) ​ 554,777 Total sales ​ $ 1,486,356 ​ $ 540,438 ​ $ (9,229) ​ $ 2,017,565 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 648,343 ​ $ — ​ $ — ​ $ 648,343 Lighting and Transportation ​ 465,658 ​ — ​ — ​ 465,658 Coatings ​ 178,664 ​ — ​ (5,120) ​ 173,544 Telecommunications ​ 112,361 ​ — ​ — ​ 112,361 Solar ​ 81,330 ​ — ​ (73) ​ 81,257 Irrigation Equipment and Parts ​ — ​ 487,430 ​ (4,036) ​ 483,394 Technology Products and Services ​ — ​ 53,008 ​ — ​ 53,008 Total sales ​ $ 1,486,356 ​ $ 540,438 ​ $ (9,229) ​ $ 2,017,565 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended July 1, 2023 ​ ​ Infrastructure Agriculture Intersegment Consolidated Geographical market: ​ ​ ​ ​ ​ North America ​ $ 587,313 ​ $ 140,981 ​ $ (3,613) ​ $ 724,681 International ​ 183,282 ​ 138,952 ​ (619) ​ 321,615 Total sales ​ $ 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 sales ​ $ 770,595 ​ $ 279,933 ​ $ (4,232) ​ $ 1,046,296 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twenty-six weeks ended July 1, 2023 ​ ​ Infrastructure Agriculture Intersegment 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 sales ​ $ 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 sales ​ $ 1,506,701 ​ $ 612,096 ​ $ (10,020) ​ $ 2,108,777 ​ A breakdown by segment of revenue recognized over time and revenue recognized at a point in time for the thirteen and twenty-six weeks ended June 29, 2024 and July 1, 2023 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended June 29, 2024 Twenty-six weeks ended June 29, 2024 ​ Point in Time ​ Over Time ​ Total Point in Time ​ Over Time ​ Total Infrastructure ​ $ 430,252 ​ $ 330,178 ​ $ 760,430 ​ $ 820,187 ​ $ 660,976 ​ $ 1,481,163 Agriculture ​ 271,011 ​ ​ 8,296 ​ 279,307 ​ 521,771 ​ ​ 14,631 ​ 536,402 Total net sales ​ $ 701,263 ​ $ 338,474 ​ $ 1,039,737 ​ $ 1,341,958 ​ $ 675,607 ​ $ 2,017,565 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 net sales ​ $ 722,696 ​ $ 323,600 ​ $ 1,046,296 ​ $ 1,458,119 ​ $ 650,658 ​ $ 2,108,777 ​

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023	Apr. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 99,716	$ 87,822	$ 89,376	$ 74,540	$ 187,538	$ 163,916

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 29, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 29, 2024
Accounting Policies [Abstract]
Condensed Consolidated Financial Statements	Condensed Consolidated Financial Statements The Condensed Consolidated Balance Sheets as of June 29, 2024 and December 30, 2023 and the Condensed Consolidated Statements of Earnings, Comprehensive Income, Cash Flows, and Shareholders’ Equity and Redeemable Noncontrolling Interests for the thirteen and twenty-six weeks ended June 29, 2024 and July 1, 2023 have been prepared by Valmont Industries, Inc. (the “Company”) without audit. In the opinion of the Company’s management, all necessary adjustments, which include normal and recurring adjustments, have been made to present fairly the financial statements as of June 29, 2024 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 30, 2023. The results of operations for the period ended June 29, 2024 are not necessarily indicative of the operating results for the full fiscal year.
Inventories	Inventories Inventories are valued at the lower of cost, determined by the first-in, first-out method, or net realizable value. Finished and manufactured goods inventories include the costs of acquired raw materials and the related factory labor and overhead charges required to convert raw materials to finished and manufactured goods. Inventories as of June 29, 2024 and December 30, 2023 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 29, ​ December 30, ​ ​ 2024 2023 Raw materials and purchased parts ​ $ 233,957 ​ $ 217,134 Work in process ​ 42,716 ​ 37,826 Finished and manufactured goods ​ 356,559 ​ 403,468 Total inventories ​ $ 633,232 ​ $ 658,428
Geographical Markets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 29, ​ December 30, ​ ​ 2024 2023 Raw materials and purchased parts ​ $ 233,957 ​ $ 217,134 Work in process ​ 42,716 ​ 37,826 Finished and manufactured goods ​ 356,559 ​ 403,468 Total inventories ​ $ 633,232 ​ $ 658,428
Pension Costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ June 29, ​ July 1, ​ June 29, ​ July 1, ​ ​ 2024 2023 2024 2023 United States ​ $ 94,731 ​ $ 77,066 ​ $ 180,943 ​ $ 108,924 Foreign ​ 37,505 ​ 43,866 ​ 69,730 ​ 117,017 Earnings before income taxes and equity in loss of nonconsolidated subsidiaries ​ $ 132,236 ​ $ 120,932 ​ $ 250,673 ​ $ 225,941 ​
Stock Plans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ June 29, ​ July 1, ​ June 29, ​ July 1, ​ ​ 2024 2023 2024 2023 Interest cost ​ $ 5,242 ​ $ 5,414 ​ $ 10,484 ​ $ 10,670 Expected return on plan assets ​ (5,591) ​ (5,477) ​ (11,183) ​ (10,794) Amortization of prior service costs ​ 127 ​ 124 ​ 254 ​ 246 Amortization of net actuarial loss ​ 381 ​ — ​ 762 ​ — Net periodic pension cost ​ $ 159 ​ $ 61 ​ $ 317 ​ $ 122
Fair Value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ June 29, ​ July 1, ​ June 29, ​ July 1, ​ ​ 2024 2023 2024 2023 Stock-based compensation ​ $ 6,925 ​ $ 11,167 ​ $ 14,108 ​ $ 19,856 Income tax benefits ​ 1,731 ​ 2,792 ​ 3,527 ​ 4,964 ​
Long-Lived Assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Fair Value Measurement Using: ​ ​ December 30, 2023 ​ Level 1 ​ Level 2 ​ Level 3 Deferred compensation investments ​ $ 26,803 ​ $ 26,803 ​ $ — ​ $ — Derivative financial instruments, net ​ ​ 2,860 ​ ​ — ​ ​ 2,860 ​ ​ — Cash and cash equivalents—mutual funds ​ ​ 6,258 ​ ​ 6,258 ​ ​ — ​ ​ — ​
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 (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) includes net earnings, foreign currency translation adjustments, certain derivative-related activity, and changes in prior service costs and net actuarial losses 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 June 29, 2024 and December 30, 2023:
Revenue Recognition	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 29, ​ December 30, ​ ​ 2024 2023 Foreign currency translation adjustments ​ $ (276,554) ​ $ (236,690) Hedging activities ​ ​ 19,498 ​ ​ 20,989 Defined benefit pension plan ​ ​ (56,773) ​ ​ (57,535) Accumulated other comprehensive loss ​ $ (313,829) ​ $ (273,236) ​ 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 manufacture 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 product line and Technology Products and Services product line. 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 manufacturing commences and the product is manufactured and delivered to the customer. The Company is generally not entitled to any compensation solely based on the design of the product and does not recognize this service as a separate performance obligation, therefore, no revenue is recognized for design services. 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 within cost of sales. 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”), Solar, and Telecommunications product lines, the Company’s inventory is interchangeable for a variety of each segment’s customers. The Company has elected not to 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 one year of transfer of control of goods or services. Most of the Company’s customers are invoiced upon shipment or delivery of the goods to the customer’s specified location. As revenue is recognized over time, contract assets are recorded, and such contract assets are relieved when the customer is invoiced. As of June 29, 2024 and December 30, 2023, total contract assets were $191,846 and $175,721, respectively, and were recorded as “Contract assets” in the Condensed Consolidated Balance Sheets. Certain customers are also invoiced by advanced billings or progress billings. When progress on performance obligations is less than the amount the customer has been billed, a contract liability is recognized. As of June 29, 2024 and December 30, 2023, total contract liabilities were $68,811 and $70,978, respectively, and were recorded as “Contract liabilities” in the Condensed Consolidated Balance Sheets. Additional details are as follows: ● During the thirteen and twenty-six weeks ended June 29, 2024, the Company recognized $ 7,230 and $ 41,509 of revenue that was included in the total contract liability as of December 30, 2023, 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 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. ● As of June 29, 2024, the Company had no material remaining performance obligations on contracts with an expected duration of one year or more. Segment and Product Line Revenue Recognition Infrastructure Segment Steel and concrete structures within the TD&S and Telecommunications product lines are engineered to customer specifications resulting in limited ability to sell the structures 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 transferred over time, revenue is recognized based on the extent of progress toward completion of the performance obligation. The selection of the method to measure progress toward completion requires judgment. For the structures manufactured within the TD&S and Telecommunications product lines, the Company generally recognizes revenue on an inputs basis, using total production hours incurred to date for each order as a percentage of total hours estimated to complete the order. The completion percentage is applied to the order’s total revenue and total estimated costs to determine reported revenue, cost of sales, 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 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 product line 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 the Lighting and Transportation product line 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. Some large regional customers 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 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 the Technology Products and Services product line are primarily billed annually and revenue is recognized on a straight-line basis over the contract period. The disaggregation of revenue by product line is disclosed in Note 9.
Supplier Finance Program	Supplier Finance Program During fiscal 2019, the Company entered into an agreement with a third-party financial institution to facilitate a supplier finance program that allows qualifying suppliers to sell their receivables from the Company to the financial institution. These participating suppliers negotiate their outstanding receivable arrangements directly with the financial institution and the Company’s rights and obligations to suppliers are not impacted. The Company has no economic interest in a supplier’s decision to enter into these agreements. Once a qualifying supplier elects to participate in the supplier finance program and reaches an agreement with a financial institution, they elect which individual Company invoices they sell to the financial institution. The Company’s obligation is to make payment in the invoice amount negotiated with participating suppliers to the financial institution on the invoice due date, regardless of whether the individual invoice is sold by the supplier to the financial institution. The financial institution pays the supplier on the invoice due date for any invoices that were not previously sold under the supplier finance program. The invoice amounts and scheduled payment terms are not impacted by the suppliers’ decisions to sell amounts under these arrangements. The payment of these obligations is included in “Net cash flows from operating activities” in the Condensed Consolidated Statements of Cash Flows. Included in “Accounts payable” in the Condensed Consolidated Balance Sheets as of June 29, 2024 and December 30, 2023 were $41,509 and $41,916 of outstanding payment obligations, respectively, that were sold to the financial institution under the Company’s supplier finance program. ​ ​ ​ ​ ​ Confirmed obligations outstanding as of December 30, 2023 ​ $ 41,916 Invoices confirmed during the period ​ ​ 108,504 Confirmed invoices paid during the period ​ (108,911) Confirmed obligations outstanding as of June 29, 2024 ​ $ 41,509
Redeemable Noncontrolling Interests	​ ​ ​ ​ ​ Confirmed obligations outstanding as of December 30, 2023 ​ $ 41,916 Invoices confirmed during the period ​ ​ 108,504 Confirmed invoices paid during the period ​ (108,911) Confirmed obligations outstanding as of June 29, 2024 ​ $ 41,509
Treasury Stock	Treasury Stock Repurchased shares are recorded as “Treasury stock” and result in a reduction of “Shareholders’ equity” in the Condensed Consolidated Balance Sheets. When treasury shares are re-issued, the Company uses the last-in, first-out method, and the difference between the repurchase cost and re-issuance price is charged or credited to “Additional paid-in capital”. In May 2014, the Company announced a capital allocation philosophy that covered a share repurchase program. Specifically, the Board of Directors at that time authorized the purchase of up to $500,000 of the Company’s outstanding common stock from time to time over twelve months at prevailing market prices, through open market or privately negotiated transactions. In February 2015 and again in October 2018, the Board of Directors authorized an additional purchase of up to $250,000 of the Company’s outstanding common stock with no stated expiration date. In February 2023, the Board of Directors increased the amount remaining under the program by an additional $400,000, with no stated expiration date, bringing the total authorization to $1,400,000. As of June 29, 2024, the Company has acquired 8,051,134 shares for $1,278,832 under this share repurchase program. In November 2023, the Company entered into an accelerated purchase agreement to repurchase $120,000 of the Company’s outstanding common stock (“November 2023 ASR”) with CitiBank, N.A. as counterparty. The November 2023 ASR was entered into under the Company’s previously announced share repurchase program described above. The Company pre-paid $120,000 in the fourth quarter of fiscal 2023 and received an initial delivery of 438,917 shares of common stock. The agreement was settled with the delivery of an additional 96,224 shares of common stock in the first quarter of fiscal 2024. The total number of shares ultimately delivered under the November 2023 ASR, and therefore the average purchase price paid per share of $224.24, was determined based on the volume-weighted average market price of the Company’s common stock during the term of the agreement, less a discount.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued Accounting Standards Update No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 29, 2024
Accounting Policies [Abstract]
Schedule of inventories	Inventories as of June 29, 2024 and December 30, 2023 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 29, ​ December 30, ​ ​ 2024 2023 Raw materials and purchased parts ​ $ 233,957 ​ $ 217,134 Work in process ​ 42,716 ​ 37,826 Finished and manufactured goods ​ 356,559 ​ 403,468 Total inventories ​ $ 633,232 ​ $ 658,428
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 June 29, 2024 and July 1, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ June 29, ​ July 1, ​ June 29, ​ July 1, ​ ​ 2024 2023 2024 2023 United States ​ $ 94,731 ​ $ 77,066 ​ $ 180,943 ​ $ 108,924 Foreign ​ 37,505 ​ 43,866 ​ 69,730 ​ 117,017 Earnings before income taxes and equity in loss of nonconsolidated subsidiaries ​ $ 132,236 ​ $ 120,932 ​ $ 250,673 ​ $ 225,941 ​
Schedule of Components of the Net Periodic Pension (Benefit) Expense	The components of the net periodic pension cost for the thirteen and twenty-six weeks ended June 29, 2024 and July 1, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ June 29, ​ July 1, ​ June 29, ​ July 1, ​ ​ 2024 2023 2024 2023 Interest cost ​ $ 5,242 ​ $ 5,414 ​ $ 10,484 ​ $ 10,670 Expected return on plan assets ​ (5,591) ​ (5,477) ​ (11,183) ​ (10,794) Amortization of prior service costs ​ 127 ​ 124 ​ 254 ​ 246 Amortization of net actuarial loss ​ 381 ​ — ​ 762 ​ — Net periodic pension cost ​ $ 159 ​ $ 61 ​ $ 317 ​ $ 122
Compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options	The Company’s stock-based compensation (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 awards for the thirteen and twenty-six weeks ended June 29, 2024 and July 1, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ June 29, ​ July 1, ​ June 29, ​ July 1, ​ ​ 2024 2023 2024 2023 Stock-based compensation ​ $ 6,925 ​ $ 11,167 ​ $ 14,108 ​ $ 19,856 Income tax benefits ​ 1,731 ​ 2,792 ​ 3,527 ​ 4,964 ​
Valuation methodologies used for assets and liabilities measured at fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Fair Value Measurement Using: ​ ​ June 29, 2024 ​ Level 1 ​ Level 2 ​ Level 3 Deferred compensation investments ​ $ 26,493 ​ $ 26,493 ​ $ — ​ $ — Derivative financial instruments, net ​ ​ (1,613) ​ ​ — ​ ​ (1,613) ​ ​ — Cash and cash equivalents—mutual funds ​ ​ 4,425 ​ ​ 4,425 ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Fair Value Measurement Using: ​ ​ December 30, 2023 ​ Level 1 ​ Level 2 ​ Level 3 Deferred compensation investments ​ $ 26,803 ​ $ 26,803 ​ $ — ​ $ — Derivative financial instruments, net ​ ​ 2,860 ​ ​ — ​ ​ 2,860 ​ ​ — Cash and cash equivalents—mutual funds ​ ​ 6,258 ​ ​ 6,258 ​ ​ — ​ ​ — ​
Schedule of Components of Accumulated Other Comprehensive Income (Loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 29, ​ December 30, ​ ​ 2024 2023 Foreign currency translation adjustments ​ $ (276,554) ​ $ (236,690) Hedging activities ​ ​ 19,498 ​ ​ 20,989 Defined benefit pension plan ​ ​ (56,773) ​ ​ (57,535) Accumulated other comprehensive loss ​ $ (313,829) ​ $ (273,236)
Schedule of supplier finance program confirmed obligations	​ ​ ​ ​ ​ Confirmed obligations outstanding as of December 30, 2023 ​ $ 41,916 Invoices confirmed during the period ​ ​ 108,504 Confirmed invoices paid during the period ​ (108,911) Confirmed obligations outstanding as of June 29, 2024 ​ $ 41,509

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 29, 2024
HR Products
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition	The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed of HR Products as of the date of acquisition: ​ ​ ​ ​ ​ ​ August 31, ​ ​ 2023 Current assets ​ $ 24,153 Property, plant, and equipment ​ 1,397 Goodwill ​ 9,912 Customer relationships ​ ​ 11,503 Other non-current assets ​ 3,997 Total fair value of assets acquired ​ ​ 50,962 Current liabilities ​ 4,183 Deferred income taxes ​ 3,450 Operating lease liabilities ​ 2,792 Total fair value of liabilities assumed ​ ​ 10,425 Net assets acquired ​ $ 40,537

REALIGNMENT ACTIVITIES (Tables)

REALIGNMENT ACTIVITIES (Tables)	6 Months Ended
	Jun. 29, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Activities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure ​ Agriculture ​ Corporate ​ Total Severance and other employee benefit costs ​ $ 17,260 ​ $ 9,101 ​ $ 8,849 ​ $ 35,210
Schedule of Liabilities Recorded For The Restructuring Plan And Changes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of Recognized Costs Paid or Balance as of ​ ​ December 30, ​ Realignment ​ Otherwise ​ June 29, ​ ​ 2023 ​ Expense ​ Settled ​ 2024 Severance and other employee benefit costs ​ $ 12,514 $ — ​ $ (10,625) ​ $ 1,889 ​

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Amount of Goodwill	The carrying amount of goodwill by segment as of June 29, 2024 and December 30, 2023 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure Agriculture Total Gross balance as of December 30, 2023 ​ $ 478,663 ​ $ 323,683 ​ $ 802,346 Accumulated impairment losses ​ (49,382) ​ (120,000) ​ (169,382) Balance as of December 30, 2023 ​ 429,281 ​ 203,683 ​ ​ 632,964 Acquisition measurement period adjustment ​ — ​ 735 ​ 735 Foreign currency translation ​ (2,801) ​ (666) ​ (3,467) Balance as of June 29, 2024 ​ $ 426,480 ​ $ 203,752 ​ $ 630,232 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure Agriculture Total Gross balance as of June 29, 2024 ​ $ 475,862 ​ $ 323,752 ​ $ 799,614 Accumulated impairment losses ​ ​ (49,382) ​ ​ (120,000) ​ ​ (169,382) Balance as of June 29, 2024 ​ $ 426,480 ​ $ 203,752 ​ $ 630,232
Schedule of Components of Intangible Assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 29, 2024 December 30, 2023 ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ ​ ​ Carrying ​ Accumulated Carrying ​ Accumulated ​ Amount Amortization Amount Amortization Amortizing intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ $ 232,263 ​ $ 162,853 ​ $ 233,852 ​ $ 157,873 Patents & proprietary technology ​ 59,273 ​ 46,158 ​ 59,311 ​ 45,416 Trade names ​ 2,870 ​ ​ 1,265 ​ 2,870 ​ 1,056 Other ​ 4,410 ​ 4,263 ​ 4,787 ​ 4,538 Non-amortizing intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trade names ​ ​ 58,250 ​ ​ — ​ ​ 58,750 ​ ​ — ​ ​ $ 357,066 ​ $ 214,539 ​ $ 359,570 ​ $ 208,883

CASH FLOW SUPPLEMENTARY INFOR_2

CASH FLOW SUPPLEMENTARY INFORMATION (Tables)	6 Months Ended
	Jun. 29, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Payments For Interest And Income Taxes (Net of Refunds)	​ ​ ​ ​ ​ ​ ​ ​ Twenty-six weeks ended ​ ​ June 29, ​ July 1, ​ ​ 2024 2023 Interest ​ $ 31,528 ​ $ 27,387 Income taxes ​ 41,071 ​ 42,504 ​

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 29, 2024
Earnings Per Share [Abstract]
Schedule of Reconciliation of Basic and Diluted Earnings Per Share	The following table provides a reconciliation between the net earnings attributable to Valmont Industries, Inc. and weighted average share amounts used to compute both basic and diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ June 29, ​ July 1, ​ June 29, ​ July 1, ​ ​ 2024 2023 2024 2023 Net earnings attributable to Valmont Industries, Inc. ​ $ 99,716 ​ $ 89,376 ​ $ 187,538 ​ $ 163,916 Weighted average shares outstanding (000s): ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ ​ 20,175 ​ ​ 21,029 ​ ​ 20,182 ​ ​ 21,149 Dilutive effect of various stock awards ​ ​ 117 ​ ​ 200 ​ ​ 125 ​ ​ 221 Diluted ​ ​ 20,292 ​ ​ 21,229 ​ ​ 20,307 ​ ​ 21,370 Net earnings attributable to Valmont Industries, Inc. per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ $ 4.94 ​ $ 4.25 ​ $ 9.29 ​ $ 7.75 Dilutive effect of various stock awards ​ ​ (0.03) ​ ​ (0.04) ​ ​ (0.05) ​ ​ (0.08) Diluted ​ $ 4.91 ​ $ 4.21 ​ $ 9.24 ​ $ 7.67

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 29, 2024
DERIVATIVE FINANCIAL INSTRUMENTS
Schedule of Fair Value of Derivative Instruments	The fair value of derivative instruments as of June 29, 2024 and December 30, 2023 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidated ​ June 29, ​ December 30, Derivatives designated as hedging instruments: Balance Sheets location ​ 2024 ​ 2023 Commodity contracts ​ Prepaid expenses and other current assets ​ $ 526 ​ $ 2,520 Commodity contracts ​ Other accrued expenses ​ ​ (2,580) ​ ​ (1,586) Cross currency swap contracts Prepaid expenses and other current assets ​ ​ 441 ​ 1,938 Cross currency swap contracts Other accrued expenses ​ ​ — ​ (12) ​ ​ ​ ​ $ (1,613) ​ $ 2,860
Schedule of Gains (Losses) on Derivatives Recognized on Statements of Earnings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidated ​ June 29, ​ December 30, Derivatives designated as hedging instruments: Balance Sheets location ​ 2024 ​ 2023 Commodity contracts ​ Prepaid expenses and other current assets ​ $ 526 ​ $ 2,520 Commodity contracts ​ Other accrued expenses ​ ​ (2,580) ​ ​ (1,586) Cross currency swap contracts Prepaid expenses and other current assets ​ ​ 441 ​ 1,938 Cross currency swap contracts Other accrued expenses ​ ​ — ​ (12) ​ ​ ​ ​ $ (1,613) ​ $ 2,860
Cash Flow Hedging
DERIVATIVE FINANCIAL INSTRUMENTS
Schedule of notional amounts of outstanding derivative	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional ​ Total ​ ​ Commodity Type ​ Amount ​ Purchase Quantity ​ Maturity Dates Hot-rolled coil steel ​ $ 22,178 ​ 26,500 short tons June 2024 to December 2024 Natural gas ​ ​ 2,747 ​ 639,825 MMBtu ​ June 2024 to March 2026 Diesel fuel ​ ​ 689 ​ 2,898,000 gallons ​ June 2024 to December 2025
Net Investment Hedging
DERIVATIVE FINANCIAL INSTRUMENTS
Schedule of notional amounts of outstanding derivative	Key terms of the CCS net investment hedges as of June 29, 2024 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional ​ ​ ​ Swapped ​ Set Settlement Currency ​ Amount ​ Termination Date ​ Interest Rate ​ Amount Euro ​ $ 80,000 ​ April 1, 2029 3.461% ​ € 74,509

BUSINESS SEGMENTS & RELATED R_2

BUSINESS SEGMENTS & RELATED REVENUE INFORMATION (Tables)	6 Months Ended
	Jun. 29, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information of Sales and Operating Income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Twenty-six weeks ended ​ ​ June 29, July 1, June 29, July 1, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 SALES: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure ​ $ 762,742 ​ $ 770,595 ​ $ 1,486,356 ​ $ 1,506,701 Agriculture ​ 281,703 ​ 279,933 ​ 540,438 ​ 612,096 Total sales ​ 1,044,445 ​ 1,050,528 ​ 2,026,794 ​ 2,118,797 INTERSEGMENT SALES: ​ ​ ​ ​ ​ ​ ​ Infrastructure ​ (2,312) ​ (2,437) ​ (5,193) ​ (6,403) Agriculture ​ (2,396) ​ (1,795) ​ (4,036) ​ (3,617) Total intersegment sales ​ (4,708) ​ (4,232) ​ (9,229) ​ (10,020) NET SALES: ​ ​ ​ ​ Infrastructure ​ 760,430 ​ 768,158 ​ 1,481,163 ​ 1,500,298 Agriculture ​ 279,307 ​ 278,138 ​ 536,402 ​ 608,479 Total net sales ​ $ 1,039,737 ​ $ 1,046,296 ​ $ 2,017,565 ​ $ 2,108,777 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ OPERATING INCOME (LOSS): ​ ​ ​ ​ Infrastructure ​ $ 133,581 ​ $ 115,950 ​ $ 251,445 ​ $ 210,302 Agriculture ​ 39,971 ​ 49,251 ​ 80,944 ​ 102,574 Corporate ​ (26,244) ​ (31,468) ​ (53,528) ​ (60,677) Total operating income ​ $ 147,308 ​ $ 133,733 ​ $ 278,861 ​ $ 252,199
Schedule of breakdown by segment of revenue recognized	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended June 29, 2024 ​ ​ Infrastructure Agriculture ​ Intersegment Consolidated Geographical market: ​ ​ ​ ​ ​ ​ North America ​ $ 582,143 ​ $ 161,310 ​ $ (4,686) ​ $ 738,767 International ​ 180,599 ​ 120,393 ​ (22) ​ 300,970 Total sales ​ $ 762,742 ​ $ 281,703 ​ $ (4,708) ​ $ 1,039,737 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 323,087 ​ $ — ​ $ — ​ $ 323,087 Lighting and Transportation ​ 243,562 ​ — ​ — ​ 243,562 Coatings ​ 91,574 ​ — ​ (2,294) ​ 89,280 Telecommunications ​ 58,400 ​ — ​ — ​ 58,400 Solar ​ 46,119 ​ — ​ (18) ​ 46,101 Irrigation Equipment and Parts ​ — ​ 254,310 ​ (2,396) ​ 251,914 Technology Products and Services ​ — ​ 27,393 ​ — ​ 27,393 Total sales ​ $ 762,742 ​ $ 281,703 ​ $ (4,708) ​ $ 1,039,737 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twenty-six weeks ended June 29, 2024 ​ ​ Infrastructure Agriculture Intersegment Consolidated Geographical market: ​ ​ ​ ​ ​ North America ​ $ 1,150,715 ​ $ 321,225 ​ $ (9,152) ​ $ 1,462,788 International ​ 335,641 ​ 219,213 ​ (77) ​ 554,777 Total sales ​ $ 1,486,356 ​ $ 540,438 ​ $ (9,229) ​ $ 2,017,565 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 648,343 ​ $ — ​ $ — ​ $ 648,343 Lighting and Transportation ​ 465,658 ​ — ​ — ​ 465,658 Coatings ​ 178,664 ​ — ​ (5,120) ​ 173,544 Telecommunications ​ 112,361 ​ — ​ — ​ 112,361 Solar ​ 81,330 ​ — ​ (73) ​ 81,257 Irrigation Equipment and Parts ​ — ​ 487,430 ​ (4,036) ​ 483,394 Technology Products and Services ​ — ​ 53,008 ​ — ​ 53,008 Total sales ​ $ 1,486,356 ​ $ 540,438 ​ $ (9,229) ​ $ 2,017,565 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended July 1, 2023 ​ ​ Infrastructure Agriculture Intersegment Consolidated Geographical market: ​ ​ ​ ​ ​ North America ​ $ 587,313 ​ $ 140,981 ​ $ (3,613) ​ $ 724,681 International ​ 183,282 ​ 138,952 ​ (619) ​ 321,615 Total sales ​ $ 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 sales ​ $ 770,595 ​ $ 279,933 ​ $ (4,232) ​ $ 1,046,296 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twenty-six weeks ended July 1, 2023 ​ ​ Infrastructure Agriculture Intersegment 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 sales ​ $ 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 sales ​ $ 1,506,701 ​ $ 612,096 ​ $ (10,020) ​ $ 2,108,777
Breakdown by segment of revenue recognized over time and at a point in time	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended June 29, 2024 Twenty-six weeks ended June 29, 2024 ​ Point in Time ​ Over Time ​ Total Point in Time ​ Over Time ​ Total Infrastructure ​ $ 430,252 ​ $ 330,178 ​ $ 760,430 ​ $ 820,187 ​ $ 660,976 ​ $ 1,481,163 Agriculture ​ 271,011 ​ ​ 8,296 ​ 279,307 ​ 521,771 ​ ​ 14,631 ​ 536,402 Total net sales ​ $ 701,263 ​ $ 338,474 ​ $ 1,039,737 ​ $ 1,341,958 ​ $ 675,607 ​ $ 2,017,565 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 net sales ​ $ 722,696 ​ $ 323,600 ​ $ 1,046,296 ​ $ 1,458,119 ​ $ 650,658 ​ $ 2,108,777 ​

BASIS OF PRESENTATION AND SUM_4

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Inventories (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Inventory, Net [Abstract]
Raw materials and purchased parts	$ 233,957	$ 217,134
Work in process	42,716	37,826
Finished and manufactured goods	356,559	403,468
Total inventories	$ 633,232	$ 658,428

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
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Accounting Policies [Abstract]
United States	$ 94,731	$ 77,066	$ 180,943	$ 108,924
Foreign	37,505	43,866	69,730	117,017
Earnings before income taxes and equity in loss of nonconsolidated subsidiaries	$ 132,236	$ 120,932	$ 250,673	$ 225,941

BASIS OF PRESENTATION AND SUM_6

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Net Periodic Pension Cost (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Interest cost	$ 5,242	$ 5,414	$ 10,484	$ 10,670
Expected return on plan assets	(5,591)	(5,477)	(11,183)	(10,794)
Amortization of prior service cost	127	124	254	246
Amortization of actuarial loss	381		762
Net periodic pension cost	$ 159	$ 61	$ 317	$ 122

BASIS OF PRESENTATION AND SUM_7

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Stock Plans and Restricted Stock Awards (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Defined Benefit Plan Disclosure [Line Items]
Stock-based compensation	$ 6,925	$ 11,167	$ 14,108	$ 19,856
Income tax benefits	$ 1,731	$ 2,792	$ 3,527	$ 4,964
Employee Stock Option
Defined Benefit Plan Disclosure [Line Items]
Shares of common stock available for issuance (in shares)	1,466,563		1,466,563
Employee Stock Option | Minimum
Defined Benefit Plan Disclosure [Line Items]
Expiration period of grant			7 years
Vesting period of options			3 years
Employee Stock Option | Maximum
Defined Benefit Plan Disclosure [Line Items]
Expiration period of grant			10 years
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	Jun. 29, 2024	Dec. 30, 2023
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation investments	$ 26,493	$ 26,803
Derivative financial instruments, net		2,860
Derivative financial instruments, net	(1,613)
Cash and cash equivalents - mutual funds	4,425	6,258
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]
Deferred compensation investments	26,493	26,803
Derivative financial instruments, net		0
Cash and cash equivalents - mutual funds	4,425	6,258
Estimated Fair value | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation investments		0
Derivative financial instruments, net		2,860
Derivative financial instruments, net	$ (1,613)
Cash and cash equivalents - mutual funds		0
Estimated Fair value | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation investments		0
Derivative financial instruments, net		0
Cash and cash equivalents - mutual funds		$ 0

BASIS OF PRESENTATION AND SUM_9

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Accounting Policies [Abstract]
Foreign currency translation adjustments	$ (276,554)	$ (236,690)
Hedging activities	19,498	20,989
Defined benefit pension plan	(56,773)	(57,535)
Accumulated other comprehensive loss	$ (313,829)	$ (273,236)

BASIS OF PRESENTATION AND SU_10

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenues (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jul. 01, 2023	Jul. 01, 2023	Jun. 29, 2024	Dec. 30, 2023
Disaggregation of Revenue [Line Items]
Contract assets			$ 191,846,000	$ 175,721,000
Contract liabilities			68,811,000	$ 70,978,000
Revenue recognized from contract liability	$ 41,217,000	$ 100,157,000
Remaining performance obligation			$ 0
Minimum
Disaggregation of Revenue [Line Items]
Expected timing of performance obligation satisfaction			1 year

BASIS OF PRESENTATION AND SU_11

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Supplier Finance Program (Details) $ in Thousands	6 Months Ended
	Jun. 29, 2024 USD ($)
Accounting Policies [Abstract]
Confirmed obligations outstanding as of December 30, 2023	$ 41,916
Invoices confirmed during the period	108,504
Confirmed invoices paid during the period	(108,911)
Confirmed obligations outstanding as of March 30, 2024	$ 41,509

BASIS OF PRESENTATION AND SU_12

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024	Dec. 30, 2023	Jul. 01, 2023	Apr. 01, 2023	Dec. 31, 2022
Accounting Policies [Line Items]
Equity, Attributable to Parent	$ 1,471,481	$ 1,409,291	$ 1,354,280	$ 1,612,224	$ 1,540,099	$ 1,580,847
Redeemable noncontrolling interests	$ 46,249		$ 62,792
Revision of Prior Period, Error Correction, Adjustment [Member]
Accounting Policies [Line Items]
Equity, Attributable to Parent					(58,301)
Redeemable noncontrolling interests				$ 58,068	$ 58,301	$ 60,865

BASIS OF PRESENTATION AND SU_13

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Treasury Stock (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended					6 Months Ended
	Nov. 30, 2023	May 31, 2014	Jun. 29, 2024	Mar. 30, 2024	Dec. 30, 2023	Jul. 01, 2023	Apr. 01, 2023	Jun. 29, 2024	Feb. 28, 2023	Oct. 31, 2018
Equity, Class of Treasury Stock [Line Items]
Additional authorized amount									$ 400,000	$ 250,000
Authorized amount		$ 500,000							$ 1,400,000
Length of authorization period		12 months
Shares acquired under share repurchase program			59,186	96,224		85,300	356,887	8,051,134
Amount paid for share repurchase			$ 1,278,832					$ 1,278,832
Accelerated Purchase Agreement - November 2023 ASR | CitiBank, N.A.
Equity, Class of Treasury Stock [Line Items]
Authorized amount	$ 120,000
Pre-paid amount of share repurchase program					$ 120,000
Shares received at an initial delivery					438,917			96,224
Average purchase price	$ 224.24

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) $ in Thousands, $ in Thousands			6 Months Ended
	Aug. 31, 2023 USD ($) payment	Aug. 31, 2023 AUD ($)	Jun. 29, 2024 USD ($)	Dec. 30, 2023 USD ($)	Aug. 31, 2023 AUD ($) payment
Fair Values of Assets Acquired and Liabilities Assumed [Abstract]
Goodwill			$ 630,232	$ 632,964
Redeemable noncontrolling interests			$ 46,249	$ 62,792
HR Products
Business Acquisition [Line Items]
Acquisitions, net of cash acquired	$ 37,302	$ 58,044
Retention fund, withheld	$ 4,626				$ 7,200
Number of equal payments of retention fund | payment	2				2
Payment due of first installment of retention fund, from the date of acquisition	12 months	12 months
Payment due of second installment of retention fund, from the date of acquisition	24 months	24 months
Fair Values of Assets Acquired and Liabilities Assumed [Abstract]
Current assets	$ 24,153
Property, plant, and equipment	1,397
Goodwill	9,912
Customer relationships	11,503
Other non-current assets	3,997
Total fair value of assets acquired	50,962
Current liabilities	4,183
Operating lease liabilities	2,792
Deferred income taxes	3,450
Total fair value of liabilities assumed	10,425
Net assets acquired	40,537
Other non-current assets	$ 3,997
ConcealFab
Fair Values of Assets Acquired and Liabilities Assumed [Abstract]
Percentage acquired			9%
Consideration transferred			$ 7,227
Valmont Substations, LLC
Fair Values of Assets Acquired and Liabilities Assumed [Abstract]
Consideration transferred			$ 10,518
Customer relationships
Fair Values of Assets Acquired and Liabilities Assumed [Abstract]
Useful life	13 years	13 years

DIVESTITURES (Details)

DIVESTITURES (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
	Apr. 30, 2023	Jul. 01, 2023	Jul. 01, 2023
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	$ 2,994
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)

REALIGNMENT ACTIVITIES - Narrat

REALIGNMENT ACTIVITIES - Narrative (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Maximum | Voluntary early retirement program and other headcount reduction actions | Realignment Program
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	$ 36,000

REALIGNMENT ACTIVITIES - Pre-ta

REALIGNMENT ACTIVITIES - Pre-tax Expenses (Details) $ in Thousands	12 Months Ended
	Dec. 30, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Severance and other employee benefit costs	$ 35,210
Infrastructure | Voluntary early retirement program and other headcount reduction actions | Realignment Program
Restructuring Cost and Reserve [Line Items]
Severance and other employee benefit costs	17,260
Agriculture | Voluntary early retirement program and other headcount reduction actions | Realignment Program
Restructuring Cost and Reserve [Line Items]
Severance and other employee benefit costs	9,101
Corporate | Voluntary early retirement program and other headcount reduction actions | Realignment Program
Restructuring Cost and Reserve [Line Items]
Severance and other employee benefit costs	$ 8,849

REALIGNMENT ACTIVITIES - Change

REALIGNMENT ACTIVITIES - Changes in Current Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 29, 2024	Dec. 30, 2023
Restructuring Cost and Reserve [Roll Forward]
Restructuring Charges		$ 35,210
Voluntary early retirement program and other headcount reduction actions | Realignment Program
Restructuring Cost and Reserve [Roll Forward]
Severance and other employee benefit costs, beginning balance	$ 12,514
Costs Paid or Otherwise Settled	(10,625)
Severance and other employee benefit costs, ending balance	$ 1,889	$ 12,514

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2024	Dec. 30, 2023
Goodwill [Line Items]
Goodwill, Gross	$ 799,614	$ 802,346
Accumulated impairment losses	(169,382)	(169,382)
Carrying amount of goodwill
Balance at the beginning of the period	632,964
Acquisition measurement period adjustment	735
Foreign currency translation	(3,467)
Balance at the end of the period	630,232
Infrastructure [Member]
Goodwill [Line Items]
Goodwill, Gross	475,862	478,663
Accumulated impairment losses	(49,382)	(49,382)
Carrying amount of goodwill
Balance at the beginning of the period	429,281
Foreign currency translation	(2,801)
Balance at the end of the period	426,480
Agriculture [Member]
Goodwill [Line Items]
Goodwill, Gross	323,752	323,683
Accumulated impairment losses	(120,000)	$ (120,000)
Carrying amount of goodwill
Balance at the beginning of the period	203,683
Acquisition measurement period adjustment	735
Foreign currency translation	(666)
Balance at the end of the period	$ 203,752

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Amortizing Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023	Dec. 30, 2023
Components of amortized intangible assets
Weighted Average Life	4 years		4 years		4 years
Amortization expense for intangible assets	$ 3,356	$ 5,225	$ 7,071	$ 10,415
Estimated Amortization Expense
Remainder of 2024	10,164		10,164
2025	10,164		10,164
2026	10,164		10,164
2027	10,164		10,164
2028	10,164		10,164
2029	10,164		10,164
Customer relationships
Components of amortized intangible assets
Gross Carrying Amount	232,263		232,263		$ 233,852
Accumulated Amortization	162,853		162,853		157,873
Patents & Proprietary Technology
Components of amortized intangible assets
Gross Carrying Amount	59,273		59,273		59,311
Accumulated Amortization	46,158		46,158		45,416
Trade names
Components of amortized intangible assets
Gross Carrying Amount	2,870		2,870		2,870
Accumulated Amortization	1,265		1,265		1,056
Other
Components of amortized intangible assets
Gross Carrying Amount	4,410		4,410		4,787
Accumulated Amortization	$ 4,263		$ 4,263		$ 4,538

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Non-Amortized Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Trade names
Non-amortized intangible assets
Non-amortizing intangible assets	$ 58,250	$ 58,750

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Total Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Amortizing and non-amortizing intangible assets, Gross Carrying Amount	$ 357,066	$ 359,570
Intangible Assets, Accumulated Amortization	$ 214,539	$ 208,883

CASH FLOW SUPPLEMENTARY INFOR_3

CASH FLOW SUPPLEMENTARY INFORMATION (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Supplemental Cash Flow Elements [Abstract]
Interest	$ 31,528	$ 27,387
Income taxes	$ 41,071	$ 42,504

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, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023	Apr. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Earnings Per Share [Abstract]
Net Income (Loss)	$ 99,716	$ 87,822	$ 89,376	$ 74,540	$ 187,538	$ 163,916
Net earnings attributable to Valmont Industries, Inc. including change in redemption value of redeemable noncontrolling interest	$ 99,716		$ 89,376		$ 187,538	$ 163,916
Weighted average shares outstanding (000s):
Basic (in shares)	20,175		21,029		20,182	21,149
Dilutive effect of various stock awards (in shares)	117		200		125	221
Diluted (in shares)	20,292		21,229		20,307	21,370
Net earnings per share attributable to common shareholders:
Basic (in dollars per share)	$ 4.94		$ 4.25		$ 9.29	$ 7.75
Dilutive effect of various stock awards (in dollars per share)	(0.03)		(0.04)		(0.05)	(0.08)
Diluted (in dollars per share)	$ 4.91		$ 4.21		$ 9.24	$ 7.67

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares shares in Thousands	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Earnings Per Share [Abstract]
Outstanding stock options with exercise prices exceeding the market price of common stock, excluded from the computation of diluted earnings per share (in shares)	56,261	40,564

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Fair Value of Derivatives (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	$ (1,613)	$ 2,860
Commodity contracts | Other accrued expenses
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	(2,580)	(1,586)
Commodity contracts | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	526	2,520
Cross currency swap contracts | Other accrued expenses
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	0	(12)
Cross currency swap contracts | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	$ 441	$ 1,938

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Gain (Loss) on Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ (107)	$ (565)	$ 1,213	$ (4,023)
Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ (397)	$ (1,078)	$ 559	$ (5,063)
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		$ 177
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
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]	Cost of Goods and Services Sold	Cost of Goods and Services Sold	Cost of Goods and Services Sold	Cost of Goods and Services Sold
Cross currency swap contracts
Derivative Instruments, Gain (Loss) [Line Items]
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
Cross currency swap contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ 306	$ 449	$ 686	$ 895

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) $ in Thousands	6 Months Ended
	Jun. 29, 2024 USD ($)
DERIVATIVE FINANCIAL INSTRUMENTS
Proceeds from Hedge, Investing Activities	$ 2,711
Senior Unsecured Notes 5.00% Due 2044 | Senior Notes [Member]
DERIVATIVE FINANCIAL INSTRUMENTS
Stated rate	5%

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS - Cash flow hedges (Details)	6 Months Ended
	Jun. 29, 2024 USD ($) T
Commodity contracts | Natural gas | Long
DERIVATIVE FINANCIAL INSTRUMENTS
Purchase Quantity	639,825
Cash Flow Hedging | Hot rolled steel coil | Long
DERIVATIVE FINANCIAL INSTRUMENTS
Notional Amount	$ 22,178,000
Cash Flow Hedging | Natural gas | Long
DERIVATIVE FINANCIAL INSTRUMENTS
Notional Amount	2,747,000
Cash Flow Hedging | Diesel fuel | Long
DERIVATIVE FINANCIAL INSTRUMENTS
Notional Amount	$ 689,000
Cash Flow Hedging | Commodity contracts | Hot rolled steel coil
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative, nonmonetary notional amount, mass | T	26,500
Cash Flow Hedging | Commodity contracts | Hot rolled steel coil | Long
DERIVATIVE FINANCIAL INSTRUMENTS
Maturity Dates	Dec. 31, 2024
Cash Flow Hedging | Commodity contracts | Natural gas
DERIVATIVE FINANCIAL INSTRUMENTS
Maturity Dates	Mar. 31, 2026
Cash Flow Hedging | Commodity contracts | Diesel fuel
DERIVATIVE FINANCIAL INSTRUMENTS
Maturity Dates	Dec. 31, 2025
Cash Flow Hedging | Commodity contracts | Diesel fuel | Long
DERIVATIVE FINANCIAL INSTRUMENTS
Purchase Quantity	2,898,000

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Notional Amounts Outstanding (Details) - Net Investment Hedging - Cross Currency Interest Rate Contract, Two € in Thousands, $ in Thousands	Jun. 29, 2024 USD ($)	Jun. 29, 2024 EUR (€)
DERIVATIVE FINANCIAL INSTRUMENTS
Derivative, notional amount	$ 80,000	€ 74,509
Swapped Interest Rate	3.461%	3.461%

BUSINESS SEGMENTS & RELATED R_3

BUSINESS SEGMENTS & RELATED REVENUE INFORMATION (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024 USD ($)	Jul. 01, 2023 USD ($)	Jun. 29, 2024 USD ($) segment	Jul. 01, 2023 USD ($)
Business Segments
Number of reportable segments | segment			2
Net sales	$ 1,039,737	$ 1,046,296	$ 2,017,565	$ 2,108,777
Operating income (loss)	147,308	133,733	278,861	252,199
Point in Time
Business Segments
Net sales	701,263	722,696	1,341,958	1,458,119
Over Time
Business Segments
Net sales	338,474	323,600	675,607	650,658
Transmission, Distribution and Substation
Business Segments
Net sales	323,087	314,307	648,343	629,127
Lighting and Transportation
Business Segments
Net sales	243,562	246,123	465,658	475,259
Coatings
Business Segments
Net sales	89,280	89,302	173,544	175,864
Telecommunications
Business Segments
Net sales	58,400	67,738	112,361	135,875
Solar
Business Segments
Net sales	46,101	50,688	81,257	84,173
Irrigation Equipment and Parts
Business Segments
Net sales	251,914	250,662	483,394	548,021
Technology Products and Services
Business Segments
Net sales	27,393	27,476	53,008	60,458
North America
Business Segments
Net sales	738,767	724,681	1,462,788	1,486,259
International
Business Segments
Net sales	300,970	321,615	554,777	622,518
Infrastructure
Business Segments
Net sales	760,430	768,158	1,481,163	1,500,298
Operating income (loss)	133,581	115,950	251,445	210,302
Infrastructure | Point in Time
Business Segments
Net sales	430,252	451,885	820,187	863,102
Infrastructure | Over Time
Business Segments
Net sales	330,178	316,273	660,976	637,196
Agriculture
Business Segments
Net sales	279,307	278,138	536,402	608,479
Operating income (loss)	39,971	49,251	80,944	102,574
Agriculture | Point in Time
Business Segments
Net sales	271,011	270,811	521,771	595,017
Agriculture | Over Time
Business Segments
Net sales	8,296	7,327	14,631	13,462
Corporate
Business Segments
Operating income (loss)	(26,244)	(31,468)	(53,528)	(60,677)
Operating segment
Business Segments
Net sales	1,044,445	1,050,528	2,026,794	2,118,797
Operating segment | Infrastructure
Business Segments
Net sales	762,742	770,595	1,486,356	1,506,701
Operating segment | Infrastructure | Transmission, Distribution and Substation
Business Segments
Net sales	323,087	314,307	648,343	629,127
Operating segment | Infrastructure | Lighting and Transportation
Business Segments
Net sales	243,562	246,123	465,658	475,259
Operating segment | Infrastructure | Coatings
Business Segments
Net sales	91,574	91,120	178,664	181,234
Operating segment | Infrastructure | Telecommunications
Business Segments
Net sales	58,400	67,738	112,361	135,875
Operating segment | Infrastructure | Solar
Business Segments
Net sales	46,119	51,307	81,330	85,206
Operating segment | Infrastructure | North America
Business Segments
Net sales	582,143	587,313	1,150,715	1,171,396
Operating segment | Infrastructure | International
Business Segments
Net sales	180,599	183,282	335,641	335,305
Operating segment | Agriculture
Business Segments
Net sales	281,703	279,933	540,438	612,096
Operating segment | Agriculture | Irrigation Equipment and Parts
Business Segments
Net sales	254,310	252,457	487,430	551,638
Operating segment | Agriculture | Technology Products and Services
Business Segments
Net sales	27,393	27,476	53,008	60,458
Operating segment | Agriculture | North America
Business Segments
Net sales	161,310	140,981	321,225	323,850
Operating segment | Agriculture | International
Business Segments
Net sales	120,393	138,952	219,213	288,246
Intersegment
Business Segments
Net sales	(4,708)	(4,232)	(9,229)	(10,020)
Intersegment | Coatings
Business Segments
Net sales	(2,294)	(1,818)	(5,120)	(5,370)
Intersegment | Solar
Business Segments
Net sales	(18)	(619)	(73)	(1,033)
Intersegment | Irrigation Equipment and Parts
Business Segments
Net sales	(2,396)	(1,795)	(4,036)	(3,617)
Intersegment | North America
Business Segments
Net sales	(4,686)	(3,613)	(9,152)	(8,987)
Intersegment | International
Business Segments
Net sales	(22)	(619)	(77)	(1,033)
Intersegment | Infrastructure
Business Segments
Net sales	(2,312)	(2,437)	(5,193)	(6,403)
Intersegment | Agriculture
Business Segments
Net sales	$ (2,396)	$ (1,795)	$ (4,036)	$ (3,617)