Valmont Industries (VMI) 10-Q 29 Oct 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 28, 2024	Oct. 25, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 28, 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		20,035,441
Entity Central Index Key	0000102729
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Net sales	$ 1,020,175	$ 1,050,295	$ 3,037,740	$ 3,159,072
Total cost of sales	718,482	735,184	2,109,549	2,205,979
Gross profit	301,693	315,111	928,191	953,093
Selling, general, and administrative expenses	175,958	194,277	523,595	580,060
Impairment of goodwill and other intangible assets		140,844		140,844
Realignment charges		4,180		4,180
Operating income (loss)	125,735	(24,190)	404,596	228,009
Other income (expenses):
Interest expense	(14,313)	(13,472)	(46,380)	(41,494)
Interest income	2,080	3,186	5,358	4,579
Gain (loss) on deferred compensation investments	1,160	(344)	3,116	1,791
Gain on divestiture				2,994
Other	(2,307)	165	(3,662)	(4,593)
Total other income (expenses)	(13,380)	(10,465)	(41,568)	(36,723)
Earnings (loss) before income taxes and equity in loss of nonconsolidated subsidiaries	112,355	(34,655)	363,028	191,286
Income tax expense (benefit):
Current	46,133	29,654	106,738	91,801
Deferred	(16,409)	(14,193)	(15,959)	(12,562)
Total income tax expense	29,724	15,461	90,779	79,239
Earnings (loss) before equity in loss of nonconsolidated subsidiaries	82,631	(50,116)	272,249	112,047
Equity in loss of nonconsolidated subsidiaries	(21)	(199)	(60)	(1,219)
Net earnings (loss)	82,610	(50,315)	272,189	110,828
Loss (earnings) attributable to redeemable noncontrolling interests	458	1,287	(1,583)	4,060
Net earnings (loss) attributable to Valmont Industries, Inc.	$ 83,068	$ (49,028)	$ 270,606	$ 114,888
Net earnings (loss) attributable to Valmont Industries, Inc. per share:
Basic	$ 4.13	$ (2.34)	$ 13.43	$ 5.45
Diluted	$ 4.11	$ (2.34)	$ 13.34	$ 5.40
Product sales
Net sales	$ 922,062	$ 949,217	$ 2,725,219	$ 2,853,098
Total cost of sales	659,805	669,472	1,916,751	2,002,675
Service sales
Net sales	98,113	101,078	312,521	305,974
Total cost of sales	$ 58,677	$ 65,712	$ 192,798	$ 203,304

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net earnings (loss)	$ 82,610	$ (50,315)	$ 272,189	$ 110,828
Foreign currency translation adjustments:
Unrealized translation gain (loss)	33,314	(28,342)	(6,872)	(8,186)
Hedging activities:
Unrealized loss on commodity hedges	(732)	(397)	(2,791)	(3,212)
Realized loss on commodity hedges included in earnings	1,163	743	744	4,540
Unrealized gain (loss) on cross currency swaps	(2,140)	2,072	(1,129)	721
Amortization cost included in interest expense	(12)	(12)	(36)	(40)
Total hedging activities	(1,721)	2,406	(3,212)	2,009
Net gain on defined benefit pension plan	396	95	1,158	281
Total other comprehensive income (loss), net of tax	31,989	(25,841)	(8,926)	(5,896)
Comprehensive income (loss)	114,599	(76,156)	263,263	104,932
Comprehensive loss (income) attributable to redeemable noncontrolling interests	138	1,098	(1,581)	3,233
Comprehensive income (loss) attributable to Valmont Industries, Inc.	$ 114,737	$ (75,058)	$ 261,682	$ 108,165

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 30, 2023
Current assets:
Cash and cash equivalents	$ 200,477	$ 203,041
Receivables, net	714,010	657,960
Inventories	611,422	658,428
Contract assets	183,085	175,721
Prepaid expenses and other current assets	98,165	92,479
Total current assets	1,807,159	1,787,629
Property, plant, and equipment, at cost	1,551,817	1,513,239
Less accumulated depreciation	(942,816)	(895,845)
Property, plant, and equipment, net	609,001	617,394
Goodwill	636,425	632,964
Other intangible assets, net	141,878	150,687
Defined benefit pension asset	37,716	15,404
Other non-current assets	264,649	273,370
Total assets	3,496,828	3,477,448
Current liabilities:
Current installments of long-term debt	531	719
Notes payable to banks	1,309	3,205
Accounts payable	353,883	358,311
Accrued employee compensation and benefits	119,073	130,861
Contract liabilities, current	100,150	70,978
Other accrued expenses	155,016	146,903
Income taxes payable	28,066	0
Dividends payable	12,021	12,125
Total current liabilities	770,049	723,102
Deferred income taxes	8,011	21,205
Long-term debt, excluding current installments	898,201	1,107,885
Operating lease liabilities	149,253	162,743
Deferred compensation	33,499	32,623
Other non-current liabilities	50,011	12,818
Total liabilities	1,909,024	2,060,376
Redeemable noncontrolling interests	46,111	62,792
Shareholders' equity:
Common stock of $1 par value, authorized 75,000,000 shares; issued 27,900,000 shares	27,900	27,900
Additional paid-in capital	9,721	0
Retained earnings	2,877,980	2,643,606
Accumulated other comprehensive loss	(282,160)	(273,236)
Treasury stock	(1,091,748)	(1,043,990)
Total shareholders' equity	1,541,693	1,354,280
Total liabilities, redeemable noncontrolling interests, and shareholders' equity	$ 3,496,828	$ 3,477,448

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 28, 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	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net earnings	$ 272,189	$ 110,828
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and amortization	70,541	73,638
Contribution to defined benefit pension plan	(19,539)	(15,259)
Impairment of goodwill and other intangible assets		140,844
Gain on divestiture		(2,994)
Stock-based compensation	21,665	28,810
Net periodic pension cost	482	186
Loss on sale of property, plant, and equipment	474	822
Equity in loss of nonconsolidated subsidiaries	60	1,219
Deferred income taxes	(15,959)	(12,562)
Changes in assets and liabilities:
Receivables	(65,013)	(66,190)
Inventories	44,041	50,133
Contract assets	(7,310)	4,419
Prepaid expenses and other assets (current and non-current)	(6,955)	(20,986)
Accounts payable	(3,728)	(11,212)
Contract liabilities	66,227	(88,293)
Accrued expenses	(6,413)	11,022
Income taxes payable	23,766	10,557
Other non-current liabilities	4,736	(24,114)
Net cash flows from operating activities	379,264	190,868
Cash flows from investing activities:
Purchases of property, plant, and equipment	(53,833)	(71,233)
Proceeds from divestiture, net of cash divested		6,369
Proceeds from sale of assets	383	1,565
Proceeds from property damage insurance claims		6,770
Acquisitions, net of cash acquired		(31,839)
Other, net	(1,649)	(898)
Net cash flows from investing activities	(55,099)	(89,266)
Cash flows from financing activities:
Proceeds from short-term borrowings	7,436	24,649
Repayments on short-term borrowings	(9,335)	(27,290)
Proceeds from long-term borrowings	30,009	215,012
Principal repayments on long-term borrowings	(240,522)	(109,335)
Proceeds from settlement of financial derivatives	2,711	0
Dividends paid	(36,337)	(36,983)
Dividends to redeemable noncontrolling interests	(664)	(662)
Purchases of redeemable noncontrolling interests	(17,745)	0
Repurchases of common stock	(55,069)	(166,663)
Proceeds from exercises under stock plans	4,567	5,348
Tax withholdings on exercises under stock plans	(8,492)	(15,567)
Other, net	(2,436)	0
Net cash flows from financing activities	(325,877)	(111,491)
Effect of exchange rate changes on cash and cash equivalents	(852)	(2,951)
Net change in cash and cash equivalents	(2,564)	(12,840)
Cash and cash equivalents-beginning of period	203,041	185,406
Cash and cash equivalents-end of period	200,477	172,566
Supplemental disclosures of cash flow information:
Interest paid	35,973	30,932
Income taxes paid	$ 84,548	$ 88,930

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)							114,888
Total shareholders' equity - Ending balance at Sep. 30, 2023	27,900		2,657,174	(281,632)			1,501,742
Redeemable noncontrolling interests - Ending balance at Sep. 30, 2023						56,970
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)			1,612,224
Redeemable noncontrolling interests - Ending balance at Jul. 01, 2023						58,068
Increase (Decrease) in Shareholders' Equity
Treasury stock balance					(870,456)
Net earnings (loss)			(49,028)			(1,287)	(49,028)
Other comprehensive income (loss)				(26,030)		189	(26,030)
Cash dividends declared			(12,532)				(12,532)
Repurchases of common stock					(31,841)		(31,841)
Stock option and incentive plans			8,352		597		8,949
Total shareholders' equity - Ending balance at Sep. 30, 2023	27,900		2,657,174	(281,632)			1,501,742
Redeemable noncontrolling interests - Ending balance at Sep. 30, 2023						56,970
Increase (Decrease) in Shareholders' Equity
Treasury stock balance					(901,700)
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)							270,606
Total shareholders' equity - Ending balance at Sep. 28, 2024	27,900	9,721	2,877,980	(282,160)			1,541,693
Redeemable noncontrolling interests - Ending balance at Sep. 28, 2024						46,111	46,111
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)			1,471,481
Redeemable noncontrolling interests - Ending balance at Jun. 29, 2024						46,249
Increase (Decrease) in Shareholders' Equity
Treasury stock balance					(1,054,658)
Net earnings (loss)			83,068			(458)	83,068
Other comprehensive income (loss)				31,669		320	31,669
Cash dividends declared			(12,021)				(12,021)
Repurchases of common stock					(40,519)		(40,519)
Stock option and incentive plans		4,586			3,429		8,015
Total shareholders' equity - Ending balance at Sep. 28, 2024	$ 27,900	$ 9,721	$ 2,877,980	$ (282,160)			1,541,693
Redeemable noncontrolling interests - Ending balance at Sep. 28, 2024						$ 46,111	46,111
Increase (Decrease) in Shareholders' Equity
Treasury stock balance					$ (1,091,748)		$ (1,091,748)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (Parenthetical) - $ / shares	3 Months Ended
	Sep. 28, 2024	Jun. 29, 2024	Mar. 30, 2024	Sep. 30, 2023	Jul. 01, 2023	Apr. 01, 2023
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS
Cash dividends declared (in dollars per share)	$ 0.60	$ 0.60	$ 0.60	$ 0.60	$ 0.60	$ 0.60
Repurchases of common stock shares acquired (in shares)	140,562	59,186	96,224	126,482	85,300	356,887

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 28, 2024
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	(1) BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Condensed Consolidated Financial Statements include the accounts of Valmont Industries, Inc. and its subsidiaries (collectively, “Valmont” or the “Company”). The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America without audit. In the opinion of the Company’s management, the Condensed Consolidated Financial Statements reflect all adjustments, which are normal and recurring in nature, necessary for a fair presentation of the results for all periods presented. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 30, 2023. The results of operations for any quarter or a partial fiscal year period are not necessarily indicative of the results to be expected for other periods or 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 September 28, 2024 and December 30, 2023 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, ​ December 30, ​ ​ 2024 2023 Raw materials and purchased parts ​ $ 220,963 ​ $ 217,134 Work in process ​ 37,859 ​ 37,826 Finished and manufactured goods ​ 352,600 ​ 403,468 Total inventories ​ $ 611,422 ​ $ 658,428 ​ Geographical Markets Earnings (loss) before income taxes and equity in loss of nonconsolidated subsidiaries for the thirteen and thirty-nine weeks ended September 28, 2024 and September 30, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Thirty-nine weeks ended ​ ​ September 28, ​ September 30, ​ September 28, ​ September 30, ​ ​ 2024 2023 2024 2023 United States ​ $ 78,520 ​ $ 31,915 ​ $ 259,463 ​ $ 140,839 Foreign ​ 33,835 ​ (66,570) ​ 103,565 ​ 50,447 Earnings (loss) before income taxes and equity in loss of nonconsolidated subsidiaries ​ $ 112,355 ​ $ (34,655) ​ $ 363,028 ​ $ 191,286 ​ 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. 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 thirty-nine weeks ended September 28, 2024 and September 30, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Thirty-nine weeks ended ​ ​ September 28, ​ September 30, ​ September 28, ​ September 30, ​ ​ 2024 2023 2024 2023 Interest cost ​ $ 5,445 ​ $ 5,472 ​ $ 15,929 ​ $ 16,142 Expected return on plan assets ​ (5,808) ​ (5,536) ​ (16,991) ​ (16,330) Amortization of prior service costs ​ 132 ​ 128 ​ 386 ​ 374 Amortization of net actuarial loss ​ 396 ​ — ​ 1,158 ​ — Net periodic pension cost ​ $ 165 ​ $ 64 ​ $ 482 ​ $ 186 ​ Stock Plans The Company maintains stock-based compensation plans approved by the shareholders. These plans 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 September 28, 2024, 1,485,078 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 Operations) and associated income tax benefits related to stock options and restricted stock awards for the thirteen and thirty-nine weeks ended September 28, 2024 and September 30, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Thirty-nine weeks ended ​ ​ September 28, ​ September 30, ​ September 28, ​ September 30, ​ ​ 2024 2023 2024 2023 Stock-based compensation ​ $ 7,557 ​ $ 8,954 ​ $ 21,665 ​ $ 28,810 Income tax benefits ​ 1,889 ​ 2,239 ​ 5,416 ​ 7,203 ​ 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: ​ ​ September 28, 2024 ​ Level 1 ​ Level 2 ​ Level 3 Deferred compensation investments ​ $ 26,619 ​ $ 26,619 ​ $ — ​ $ — Derivative financial instruments, net ​ ​ (3,358) ​ ​ — ​ ​ (3,358) ​ ​ — Cash and cash equivalents—mutual funds ​ ​ 8,989 ​ ​ 8,989 ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, 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 (loss), 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 September 28, 2024 and December 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, ​ December 30, ​ ​ 2024 2023 Foreign currency translation adjustments ​ $ (243,560) ​ $ (236,690) Hedging activities ​ ​ 17,777 ​ ​ 20,989 Defined benefit pension plan ​ ​ (56,377) ​ ​ (57,535) Accumulated other comprehensive loss ​ $ (282,160) ​ $ (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). 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 compensation solely based on the product design 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 September 28, 2024 and December 30, 2023, total contract assets were $183,085 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 September 28, 2024 and December 30, 2023, total contract liabilities were $135,950 and $70,978, respectively. As of September 28, 2024, $100,150 was recorded as “Contract liabilities” and $35,800 as “Other non-current liabilities” in the Condensed Consolidated Balance Sheets. Additional details are as follows: ● During the thirteen and thirty-nine weeks ended September 28, 2024, the Company recognized $5,269 and $46,778 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 thirty-nine weeks ended September 30, 2023, the Company recognized $49,644 and $149,801 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 September 28, 2024, the Company had $35,800 of remaining performance obligations on contracts with an expected duration of one year or more and expects to complete the remaining performance obligations on these contracts within the next 12 to 24 months . Segment and Product Line Revenue Recognition Infrastructure Segment Steel and concrete 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 by contractual termination clauses or 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 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 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. External sales agents are used in certain TD&S product line sales. 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 8. 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 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 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 September 28, 2024 and December 30, 2023 were $40,823 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 ​ ​ 159,600 Confirmed invoices paid during the period ​ (160,693) Confirmed obligations outstanding as of September 28, 2024 ​ $ 40,823 ​ Redeemable Noncontrolling Interests Subsequent to the issuance of the Company’s Consolidated Financial Statements as of and for the period ended September 30, 2023, the Company identified an error in the presentation of “Noncontrolling interests in consolidated subsidiaries” of $60,865 as of December 31, 2022 April 1, 2023 July 1, 2023 September 30, 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 September 28, 2024 and December 30, 2023, the redeemable noncontrolling interests were $46,111 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 the next 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 September 28, 2024, the Company has acquired 8,191,696 shares for $1,318,961 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	9 Months Ended
	Sep. 28, 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 12 and 24 months from the acquisition date for contingencies and disagreements. The first payment was made in the third quarter of fiscal 2024. HR Products provides a broad range of irrigation products to serve the agriculture and landscaping industries. 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 acquired 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. The amount allocated to goodwill is not deductible for tax purposes. The Company finalized the purchase price allocation in the third quarter of fiscal 2024. The following table summarizes the 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 ​ 9,508 Customer relationships ​ ​ 11,503 Other non-current assets ​ 3,997 Total fair value of assets acquired ​ ​ 50,558 Current liabilities ​ 4,183 Deferred income taxes ​ 3,046 Operating lease liabilities ​ 2,792 Total fair value of liabilities assumed ​ ​ 10,021 Net assets acquired ​ $ 40,537 ​ Proforma disclosures were omitted as this acquisition 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, Inc. for $7,227 and 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	9 Months Ended
	Sep. 28, 2024
Discontinued Operations and Disposal Groups [Abstract]
DIVESTITURES	(3) DIVESTITURES On April 30, 2023, the Company completed the sale of Torrent Engineering and Equipment Company, LLC, 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	9 Months Ended
	Sep. 28, 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 third quarter of fiscal 2023, the Company recorded the following pre-tax expenses for the Realignment Program: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure ​ Agriculture ​ Corporate ​ Total Severance and other employee benefit costs ​ $ 1,069 ​ $ 907 ​ $ 2,204 ​ $ 4,180 ​ 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 ​ September 28, ​ ​ 2023 ​ Expense ​ Settled ​ 2024 Severance and other employee benefit costs ​ $ 12,514 $ — ​ $ (11,833) ​ $ 681 ​

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	9 Months Ended
	Sep. 28, 2024
GOODWILL AND OTHER INTANGIBLE ASSETS
GOODWILL AND OTHER INTANGIBLE ASSETS	(5) GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The carrying amount of goodwill by segment as of September 28, 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 ​ — ​ 331 ​ 331 Foreign currency translation ​ 3,419 ​ (289) ​ 3,130 Balance as of September 28, 2024 ​ $ 432,700 ​ $ 203,725 ​ $ 636,425 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure Agriculture Total Gross balance as of September 28, 2024 ​ $ 482,082 ​ $ 323,725 ​ $ 805,807 Accumulated impairment losses ​ ​ (49,382) ​ ​ (120,000) ​ ​ (169,382) Balance as of September 28, 2024 ​ $ 432,700 ​ $ 203,725 ​ $ 636,425 ​ In the third quarter of fiscal 2024, the Company performed its annual goodwill impairment assessment utilizing a quantitative test on all of its reporting units using a measurement date of September 1, 2024. The fair values of the reporting units were estimated using a discounted cash flow analysis which requires the Company to estimate the future cash flows as well as select a risk-adjusted discount rate to measure the present value of the anticipated cash flows. The estimated fair value of all reporting units exceeded their respective carrying value and no impairments were recorded for fiscal 2024. In the third quarter of fiscal 2023, the Company recognized impairment charges of $120,000 and $1,915 in the Agriculture and Infrastructure segments, respectively, as a result of the Company’s annual goodwill impairment assessment as of September 2, 2023. Other Intangible Assets The components of other intangible assets as of September 28, 2024 and December 30, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, 2024 December 30, 2023 ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ ​ ​ Carrying ​ Accumulated Carrying ​ Accumulated ​ Amount Amortization Amount Amortization Amortizing intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ $ 234,987 ​ $ 167,652 ​ $ 233,852 ​ $ 157,873 Patents and proprietary technology ​ 60,107 ​ 46,880 ​ 59,311 ​ 45,416 Trade names ​ 2,870 ​ ​ 1,369 ​ 2,870 ​ 1,056 Other ​ 4,505 ​ 4,380 ​ 4,787 ​ 4,538 Non-amortizing intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trade names ​ ​ 59,690 ​ ​ — ​ ​ 58,750 ​ ​ — ​ ​ $ 362,159 ​ $ 220,281 ​ $ 359,570 ​ $ 208,883 ​ Amortizing intangible assets carry a remaining weighted-average life of approximately three years. Amortization expenses were $3,112 and $10,183 for the thirteen and thirty-nine weeks ended September 28, 2024, respectively, and $5,191 and $15,606 for the thirteen and thirty-nine weeks ended September 30, 2023, respectively. Based on amortizing intangible assets recognized in the Condensed Consolidated Balance Sheets as of September 28, 2024, amortization expense is estimated to average $10,273 for each next five fiscal The Company’s indefinite-lived trade names were tested for impairment as of September 1, 2024. The values of each trade name were determined using the relief-from-royalty method. Based on this evaluation, no trade names were determined to be impaired. In the third quarter of fiscal 2023, the Company recognized an impairment charge of $1,656 within the Infrastructure segment as a result of the Company’s annual indefinite-lived trade name impairment assessment as of September 2, 2023. Additionally, in the third quarter of fiscal 2023, the Company recognized an impairment charge of $17,273 in the Agriculture segment for a certain amortizing proprietary technology intangible asset related to Prospera.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	9 Months Ended
	Sep. 28, 2024
EARNINGS (LOSS) PER SHARE
EARNINGS (LOSS) PER SHARE	(6) EARNINGS (LOSS) PER SHARE The following table provides a reconciliation between the net earnings (loss) attributable to Valmont Industries, Inc. and weighted average share amounts used to compute both basic and diluted earnings (loss) per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Thirty-nine weeks ended ​ ​ September 28, ​ September 30, ​ September 28, ​ September 30, ​ ​ 2024 2023 2024 2023 Net earnings (loss) attributable to Valmont Industries, Inc. ​ $ 83,068 ​ $ (49,028) ​ $ 270,606 ​ $ 114,888 Weighted average shares outstanding (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ ​ 20,092 ​ ​ 20,951 ​ ​ 20,152 ​ ​ 21,083 Dilutive effect of various stock awards ​ ​ 142 ​ ​ — ​ ​ 131 ​ ​ 207 Diluted ​ ​ 20,234 ​ ​ 20,951 ​ ​ 20,283 ​ ​ 21,290 Net earnings (loss) attributable to Valmont Industries, Inc. per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ $ 4.13 ​ $ (2.34) ​ $ 13.43 ​ $ 5.45 Dilutive effect of various stock awards ​ ​ (0.02) ​ ​ — ​ ​ (0.09) ​ ​ (0.05) Diluted ​ $ 4.11 ​ $ (2.34) ​ $ 13.34 ​ $ 5.40 ​ In the third quarter of fiscal 2023, the Company reported a net loss. In periods in which the Company recognizes a net loss, the Company excludes the impact of outstanding stock awards from the diluted loss per share calculation, as its inclusion would have an anti-dilutive effect. As of September 28, 2024 and September 30, 2023, there were 22,600 and 42,774 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 (loss) per share, respectively.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 28, 2024
DERIVATIVE FINANCIAL INSTRUMENTS [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	(7) DERIVATIVE FINANCIAL INSTRUMENTS The Company manages interest rate risk, commodity price risk, and foreign currency risk related to foreign currency denominated transactions and investments in foreign subsidiaries. Depending on the circumstances, the Company may manage these risks by utilizing derivative financial instruments. Some derivative financial instruments are marked to market and recorded in the Company’s Condensed Consolidated Statements of Operations. 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 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 September 28, 2024 and December 30, 2023 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidated ​ September 28, ​ December 30, Derivatives designated as hedging instruments: Balance Sheets location ​ 2024 ​ 2023 Commodity contracts ​ Prepaid expenses and other current assets ​ $ 440 ​ $ 2,520 Commodity contracts ​ Other accrued expenses ​ ​ (1,635) ​ ​ (1,586) Cross currency swap contracts Prepaid expenses and other current assets ​ ​ 548 ​ 1,938 Cross currency swap contracts Other accrued expenses ​ ​ (2,711) ​ (12) ​ ​ ​ ​ $ (3,358) ​ $ 2,860 ​ Gains (losses) on derivatives recognized in the Condensed Consolidated Statements of Operations for the thirteen and thirty-nine weeks ended September 28, 2024 and September 30, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidated ​ Thirteen weeks ended ​ Thirty-nine weeks ended Derivatives designated ​ Statements of Operations ​ September 28, ​ September 30, ​ September 28, ​ September 30, as hedging instruments: ​ location ​ 2024 2023 2024 2023 Commodity contracts ​ Product cost of sales ​ $ (1,552) ​ $ (997) ​ $ (993) ​ $ (6,060) Foreign currency forward contracts ​ Other income (expenses) ​ ​ — ​ — ​ ​ — ​ 177 Interest rate hedge amortization ​ Interest expense ​ ​ (16) ​ (16) ​ ​ (48) ​ (48) Cross currency swap contracts ​ Interest expense ​ ​ 248 ​ 476 ​ ​ 934 ​ 1,371 ​ ​ ​ ​ $ (1,320) ​ $ (537) ​ $ (107) ​ $ (4,560) ​ 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 Operations in the period consumed. Notional amounts, purchase quantities, and maturity dates of these contracts as of September 28, 2024 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional ​ Total ​ ​ Commodity Type ​ Amount ​ Purchase Quantity ​ Maturity Dates Hot-rolled coil steel ​ $ 15,293 ​ 18,500 short tons September 2024 to April 2025 Natural gas ​ ​ 2,159 ​ 543,825 MMBtu ​ October 2024 to March 2026 Ultra-low-sulfur diesel fuel ​ ​ 1,042 ​ 4,410,000 gallons ​ September 2024 to March 2026 ​ Net Investment Hedges 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 full initial notional amounts as hedges of the net investment in certain European subsidiaries under the spot method. All changes in the fair value of the CCS that are included in the assessment of effectiveness (changes due to spot foreign exchange rates) are recorded as cumulative foreign currency translation within AOCI. Net interest receipts are recorded as a reduction of interest expense over the life of the CCS. Key terms of the CCS net investment hedges as of September 28, 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 during fiscal 2019 was early settled. 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	9 Months Ended
	Sep. 28, 2024
BUSINESS SEGMENTS & RELATED REVENUE INFORMATION [Abstract]
BUSINESS SEGMENTS & RELATED REVENUE INFORMATION	(8) BUSINESS SEGMENTS AND RELATED REVENUE INFORMATION Based on its management structure, the Company has two reportable segments. Each segment operates globally with a manager responsible for operational performance and capital allocation. Corporate expense is net of certain service-related expenses 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 (loss) and return on invested capital. For segment purposes, the Company’s operating income (loss) excludes unallocated corporate general and administrative expenses, interest expenses, non-operating income and deductions, and income taxes. Summary by Business Segment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Thirty-nine weeks ended ​ ​ September 28, September 30, September 28, September 30, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 SALES: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure ​ $ 758,579 ​ $ 755,076 ​ $ 2,244,935 ​ $ 2,261,777 Agriculture ​ 265,286 ​ 298,483 ​ 805,724 ​ 910,579 Total sales ​ 1,023,865 ​ 1,053,559 ​ 3,050,659 ​ 3,172,356 INTERSEGMENT SALES: ​ ​ ​ ​ ​ ​ ​ Infrastructure ​ (2,209) ​ (1,450) ​ (7,402) ​ (7,853) Agriculture ​ (1,481) ​ (1,814) ​ (5,517) ​ (5,431) Total intersegment sales ​ (3,690) ​ (3,264) ​ (12,919) ​ (13,284) NET SALES: ​ ​ ​ ​ Infrastructure ​ 756,370 ​ 753,626 ​ 2,237,533 ​ 2,253,924 Agriculture ​ 263,805 ​ 296,669 ​ 800,207 ​ 905,148 Total net sales ​ $ 1,020,175 ​ $ 1,050,295 ​ $ 3,037,740 ​ $ 3,159,072 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ OPERATING INCOME (LOSS): ​ ​ ​ ​ Infrastructure ​ $ 123,657 ​ $ 103,401 ​ $ 375,102 ​ $ 313,703 Agriculture ​ 28,893 ​ (99,670) ​ 109,837 ​ 2,904 Total segment operating income ​ ​ 152,550 ​ ​ 3,731 ​ ​ 484,939 ​ ​ 316,607 Unallocated corporate expenses ​ (26,815) ​ (27,921) ​ (80,343) ​ (88,598) Total operating income (loss) ​ $ 125,735 ​ $ (24,190) ​ $ 404,596 ​ $ 228,009 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended September 28, 2024 ​ ​ Infrastructure Agriculture ​ Intersegment Consolidated Geographical market: ​ ​ ​ ​ ​ ​ North America ​ $ 599,705 ​ $ 119,973 ​ $ (3,684) ​ $ 715,994 International ​ 158,874 ​ 145,313 ​ (6) ​ 304,181 Total sales ​ $ 758,579 ​ $ 265,286 ​ $ (3,690) ​ $ 1,020,175 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 342,401 ​ $ — ​ $ — ​ $ 342,401 Lighting and Transportation ​ 229,219 ​ — ​ — ​ 229,219 Coatings ​ 88,046 ​ — ​ (2,201) ​ 85,845 Telecommunications ​ 64,288 ​ — ​ — ​ 64,288 Solar ​ 34,625 ​ — ​ (8) ​ 34,617 Irrigation Equipment and Parts ​ — ​ 243,368 ​ (1,481) ​ 241,887 Technology Products and Services ​ — ​ 21,918 ​ — ​ 21,918 Total sales ​ $ 758,579 ​ $ 265,286 ​ $ (3,690) ​ $ 1,020,175 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended September 30, 2023 ​ ​ Infrastructure Agriculture Intersegment Consolidated Geographical market: ​ ​ ​ ​ ​ North America ​ $ 572,239 ​ $ 126,828 ​ $ (3,055) ​ $ 696,012 International ​ 182,837 ​ 171,655 ​ (209) ​ 354,283 Total sales ​ $ 755,076 ​ $ 298,483 ​ $ (3,264) ​ $ 1,050,295 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 297,967 ​ $ — ​ $ — ​ $ 297,967 Lighting and Transportation ​ 252,603 ​ — ​ — ​ 252,603 Coatings ​ 88,967 ​ — ​ (1,241) ​ 87,726 Telecommunications ​ 59,630 ​ — ​ — ​ 59,630 Solar ​ 55,909 ​ — ​ (209) ​ 55,700 Irrigation Equipment and Parts ​ — ​ 273,639 ​ (1,814) ​ 271,825 Technology Products and Services ​ — ​ 24,844 ​ — ​ 24,844 Total sales ​ $ 755,076 ​ $ 298,483 ​ $ (3,264) ​ $ 1,050,295 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirty-nine weeks ended September 28, 2024 ​ ​ Infrastructure Agriculture Intersegment Consolidated Geographical market: ​ ​ ​ ​ ​ North America ​ $ 1,750,420 ​ $ 441,198 ​ $ (12,836) ​ $ 2,178,782 International ​ 494,515 ​ 364,526 ​ (83) ​ 858,958 Total sales ​ $ 2,244,935 ​ $ 805,724 ​ $ (12,919) ​ $ 3,037,740 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 990,744 ​ $ — ​ $ — ​ $ 990,744 Lighting and Transportation ​ 694,877 ​ — ​ — ​ 694,877 Coatings ​ 266,710 ​ — ​ (7,321) ​ 259,389 Telecommunications ​ 176,649 ​ — ​ — ​ 176,649 Solar ​ 115,955 ​ — ​ (81) ​ 115,874 Irrigation Equipment and Parts ​ — ​ 730,798 ​ (5,517) ​ 725,281 Technology Products and Services ​ — ​ 74,926 ​ — ​ 74,926 Total sales ​ $ 2,244,935 ​ $ 805,724 ​ $ (12,919) ​ $ 3,037,740 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirty-nine weeks ended September 30, 2023 ​ ​ Infrastructure Agriculture Intersegment Consolidated Geographical market: ​ ​ ​ ​ ​ North America ​ $ 1,743,635 ​ $ 450,678 ​ $ (12,042) ​ $ 2,182,271 International ​ 518,142 ​ 459,901 ​ (1,242) ​ 976,801 Total sales ​ $ 2,261,777 ​ $ 910,579 ​ $ (13,284) ​ $ 3,159,072 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 927,094 ​ $ — ​ $ — ​ $ 927,094 Lighting and Transportation ​ 727,862 ​ — ​ — ​ 727,862 Coatings ​ 270,201 ​ — ​ (6,611) ​ 263,590 Telecommunications ​ 195,505 ​ — ​ — ​ 195,505 Solar ​ 141,115 ​ — ​ (1,242) ​ 139,873 Irrigation Equipment and Parts ​ — ​ 825,277 ​ (5,431) ​ 819,846 Technology Products and Services ​ — ​ 85,302 ​ — ​ 85,302 Total sales ​ $ 2,261,777 ​ $ 910,579 ​ $ (13,284) ​ $ 3,159,072 ​ A breakdown by segment of revenue recognized over time and revenue recognized at a point in time for the thirteen and thirty-nine weeks ended September 28, 2024 and September 30, 2023 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended September 28, 2024 Thirty-nine weeks ended September 28, 2024 ​ Point in Time ​ Over Time ​ Total Point in Time ​ Over Time ​ Total Infrastructure ​ $ 421,042 ​ $ 335,328 ​ $ 756,370 ​ $ 1,241,229 ​ $ 996,304 ​ $ 2,237,533 Agriculture ​ 254,854 ​ ​ 8,951 ​ 263,805 ​ 776,625 ​ ​ 23,582 ​ 800,207 Total net sales ​ $ 675,896 ​ $ 344,279 ​ $ 1,020,175 ​ $ 2,017,854 ​ $ 1,019,886 ​ $ 3,037,740 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended September 30, 2023 ​ Thirty-nine weeks ended September 30, 2023 ​ ​ Point in Time Over Time Total ​ Point in Time Over Time Total Infrastructure ​ $ 453,829 ​ $ 299,797 ​ $ 753,626 ​ $ 1,316,931 ​ $ 936,993 ​ $ 2,253,924 Agriculture ​ 288,780 ​ ​ 7,889 ​ 296,669 ​ 883,797 ​ ​ 21,351 ​ 905,148 Total net sales ​ $ 742,609 ​ $ 307,686 ​ $ 1,050,295 ​ $ 2,200,728 ​ $ 958,344 ​ $ 3,159,072 ​

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 28, 2024	Jun. 29, 2024	Mar. 30, 2024	Sep. 30, 2023	Jul. 01, 2023	Apr. 01, 2023	Sep. 28, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 83,068	$ 99,716	$ 87,822	$ (49,028)	$ 89,376	$ 74,540	$ 270,606	$ 114,888

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 28, 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)	9 Months Ended
	Sep. 28, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Condensed Consolidated Financial Statements include the accounts of Valmont Industries, Inc. and its subsidiaries (collectively, “Valmont” or the “Company”). The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America without audit. In the opinion of the Company’s management, the Condensed Consolidated Financial Statements reflect all adjustments, which are normal and recurring in nature, necessary for a fair presentation of the results for all periods presented. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 30, 2023. The results of operations for any quarter or a partial fiscal year period are not necessarily indicative of the results to be expected for other periods or 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 September 28, 2024 and December 30, 2023 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, ​ December 30, ​ ​ 2024 2023 Raw materials and purchased parts ​ $ 220,963 ​ $ 217,134 Work in process ​ 37,859 ​ 37,826 Finished and manufactured goods ​ 352,600 ​ 403,468 Total inventories ​ $ 611,422 ​ $ 658,428
Geographical Markets	Geographical Markets Earnings (loss) before income taxes and equity in loss of nonconsolidated subsidiaries for the thirteen and thirty-nine weeks ended September 28, 2024 and September 30, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Thirty-nine weeks ended ​ ​ September 28, ​ September 30, ​ September 28, ​ September 30, ​ ​ 2024 2023 2024 2023 United States ​ $ 78,520 ​ $ 31,915 ​ $ 259,463 ​ $ 140,839 Foreign ​ 33,835 ​ (66,570) ​ 103,565 ​ 50,447 Earnings (loss) before income taxes and equity in loss of nonconsolidated subsidiaries ​ $ 112,355 ​ $ (34,655) ​ $ 363,028 ​ $ 191,286
Pension Costs	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. 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 thirty-nine weeks ended September 28, 2024 and September 30, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Thirty-nine weeks ended ​ ​ September 28, ​ September 30, ​ September 28, ​ September 30, ​ ​ 2024 2023 2024 2023 Interest cost ​ $ 5,445 ​ $ 5,472 ​ $ 15,929 ​ $ 16,142 Expected return on plan assets ​ (5,808) ​ (5,536) ​ (16,991) ​ (16,330) Amortization of prior service costs ​ 132 ​ 128 ​ 386 ​ 374 Amortization of net actuarial loss ​ 396 ​ — ​ 1,158 ​ — Net periodic pension cost ​ $ 165 ​ $ 64 ​ $ 482 ​ $ 186
Stock Plans	Stock Plans The Company maintains stock-based compensation plans approved by the shareholders. These plans 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 September 28, 2024, 1,485,078 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 Operations) and associated income tax benefits related to stock options and restricted stock awards for the thirteen and thirty-nine weeks ended September 28, 2024 and September 30, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Thirty-nine weeks ended ​ ​ September 28, ​ September 30, ​ September 28, ​ September 30, ​ ​ 2024 2023 2024 2023 Stock-based compensation ​ $ 7,557 ​ $ 8,954 ​ $ 21,665 ​ $ 28,810 Income tax benefits ​ 1,889 ​ 2,239 ​ 5,416 ​ 7,203
Fair Value	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: ​ ​ September 28, 2024 ​ Level 1 ​ Level 2 ​ Level 3 Deferred compensation investments ​ $ 26,619 ​ $ 26,619 ​ $ — ​ $ — Derivative financial instruments, net ​ ​ (3,358) ​ ​ — ​ ​ (3,358) ​ ​ — Cash and cash equivalents—mutual funds ​ ​ 8,989 ​ ​ 8,989 ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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	Long-Lived Assets The Company’s other non-financial assets include goodwill and other intangible assets, measured at fair value on a non-recurring basis using Level 3 inputs. See Note 5 for further information.
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 (loss), 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 September 28, 2024 and December 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, ​ December 30, ​ ​ 2024 2023 Foreign currency translation adjustments ​ $ (243,560) ​ $ (236,690) Hedging activities ​ ​ 17,777 ​ ​ 20,989 Defined benefit pension plan ​ ​ (56,377) ​ ​ (57,535) Accumulated other comprehensive loss ​ $ (282,160) ​ $ (273,236)
Revenue Recognition	Revenue Recognition The Company determines the appropriate revenue recognition model for contracts by analyzing the type, terms, and conditions of each contract or arrangement with a customer. Contracts with customers for all businesses are fixed-price with sales tax excluded from revenue and do not include variable consideration. Discounts included in contracts with customers, typically early-pay discounts, are recorded as a reduction of net sales in the period in which the sale is recognized. Contract revenues are classified as “Product sales” when the performance obligation is related to the 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). 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 compensation solely based on the product design 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 September 28, 2024 and December 30, 2023, total contract assets were $183,085 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 September 28, 2024 and December 30, 2023, total contract liabilities were $135,950 and $70,978, respectively. As of September 28, 2024, $100,150 was recorded as “Contract liabilities” and $35,800 as “Other non-current liabilities” in the Condensed Consolidated Balance Sheets. Additional details are as follows: ● During the thirteen and thirty-nine weeks ended September 28, 2024, the Company recognized $5,269 and $46,778 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 thirty-nine weeks ended September 30, 2023, the Company recognized $49,644 and $149,801 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 September 28, 2024, the Company had $35,800 of remaining performance obligations on contracts with an expected duration of one year or more and expects to complete the remaining performance obligations on these contracts within the next 12 to 24 months . Segment and Product Line Revenue Recognition Infrastructure Segment Steel and concrete 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 by contractual termination clauses or 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 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 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. External sales agents are used in certain TD&S product line sales. 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 8.
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 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 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 September 28, 2024 and December 30, 2023 were $40,823 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 ​ ​ 159,600 Confirmed invoices paid during the period ​ (160,693) Confirmed obligations outstanding as of September 28, 2024 ​ $ 40,823
Redeemable Noncontrolling Interests	Redeemable Noncontrolling Interests Subsequent to the issuance of the Company’s Consolidated Financial Statements as of and for the period ended September 30, 2023, the Company identified an error in the presentation of “Noncontrolling interests in consolidated subsidiaries” of $60,865 as of December 31, 2022 April 1, 2023 July 1, 2023 September 30, 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 September 28, 2024 and December 30, 2023, the redeemable noncontrolling interests were $46,111 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	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 the next 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 September 28, 2024, the Company has acquired 8,191,696 shares for $1,318,961 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)	9 Months Ended
	Sep. 28, 2024
Accounting Policies [Abstract]
Schedule of inventories	Inventories as of September 28, 2024 and December 30, 2023 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, ​ December 30, ​ ​ 2024 2023 Raw materials and purchased parts ​ $ 220,963 ​ $ 217,134 Work in process ​ 37,859 ​ 37,826 Finished and manufactured goods ​ 352,600 ​ 403,468 Total inventories ​ $ 611,422 ​ $ 658,428
Schedule of Income Before Income Tax, Domestic and Foreign	Earnings (loss) before income taxes and equity in loss of nonconsolidated subsidiaries for the thirteen and thirty-nine weeks ended September 28, 2024 and September 30, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Thirty-nine weeks ended ​ ​ September 28, ​ September 30, ​ September 28, ​ September 30, ​ ​ 2024 2023 2024 2023 United States ​ $ 78,520 ​ $ 31,915 ​ $ 259,463 ​ $ 140,839 Foreign ​ 33,835 ​ (66,570) ​ 103,565 ​ 50,447 Earnings (loss) before income taxes and equity in loss of nonconsolidated subsidiaries ​ $ 112,355 ​ $ (34,655) ​ $ 363,028 ​ $ 191,286
Schedule of Components of the Net Periodic Pension (Benefit) Expense	The components of the net periodic pension cost for the thirteen and thirty-nine weeks ended September 28, 2024 and September 30, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Thirty-nine weeks ended ​ ​ September 28, ​ September 30, ​ September 28, ​ September 30, ​ ​ 2024 2023 2024 2023 Interest cost ​ $ 5,445 ​ $ 5,472 ​ $ 15,929 ​ $ 16,142 Expected return on plan assets ​ (5,808) ​ (5,536) ​ (16,991) ​ (16,330) Amortization of prior service costs ​ 132 ​ 128 ​ 386 ​ 374 Amortization of net actuarial loss ​ 396 ​ — ​ 1,158 ​ — Net periodic pension cost ​ $ 165 ​ $ 64 ​ $ 482 ​ $ 186
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 Operations) and associated income tax benefits related to stock options and restricted stock awards for the thirteen and thirty-nine weeks ended September 28, 2024 and September 30, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Thirty-nine weeks ended ​ ​ September 28, ​ September 30, ​ September 28, ​ September 30, ​ ​ 2024 2023 2024 2023 Stock-based compensation ​ $ 7,557 ​ $ 8,954 ​ $ 21,665 ​ $ 28,810 Income tax benefits ​ 1,889 ​ 2,239 ​ 5,416 ​ 7,203
Valuation methodologies used for assets and liabilities measured at fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Value ​ Fair Value Measurement Using: ​ ​ September 28, 2024 ​ Level 1 ​ Level 2 ​ Level 3 Deferred compensation investments ​ $ 26,619 ​ $ 26,619 ​ $ — ​ $ — Derivative financial instruments, net ​ ​ (3,358) ​ ​ — ​ ​ (3,358) ​ ​ — Cash and cash equivalents—mutual funds ​ ​ 8,989 ​ ​ 8,989 ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, ​ December 30, ​ ​ 2024 2023 Foreign currency translation adjustments ​ $ (243,560) ​ $ (236,690) Hedging activities ​ ​ 17,777 ​ ​ 20,989 Defined benefit pension plan ​ ​ (56,377) ​ ​ (57,535) Accumulated other comprehensive loss ​ $ (282,160) ​ $ (273,236)
Schedule of supplier finance program confirmed obligations	​ ​ ​ ​ ​ Confirmed obligations outstanding as of December 30, 2023 ​ $ 41,916 Invoices confirmed during the period ​ ​ 159,600 Confirmed invoices paid during the period ​ (160,693) Confirmed obligations outstanding as of September 28, 2024 ​ $ 40,823

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Sep. 28, 2024
HR Products
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition	The following table summarizes the 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 ​ 9,508 Customer relationships ​ ​ 11,503 Other non-current assets ​ 3,997 Total fair value of assets acquired ​ ​ 50,558 Current liabilities ​ 4,183 Deferred income taxes ​ 3,046 Operating lease liabilities ​ 2,792 Total fair value of liabilities assumed ​ ​ 10,021 Net assets acquired ​ $ 40,537

REALIGNMENT ACTIVITIES (Tables)

REALIGNMENT ACTIVITIES (Tables)	9 Months Ended
	Sep. 28, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Activities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure ​ Agriculture ​ Corporate ​ Total Severance and other employee benefit costs ​ $ 1,069 ​ $ 907 ​ $ 2,204 ​ $ 4,180 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ September 28, ​ ​ 2023 ​ Expense ​ Settled ​ 2024 Severance and other employee benefit costs ​ $ 12,514 $ — ​ $ (11,833) ​ $ 681 ​

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 28, 2024
GOODWILL AND OTHER INTANGIBLE ASSETS
Schedule of Carrying Amount of Goodwill	The carrying amount of goodwill by segment as of September 28, 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 ​ — ​ 331 ​ 331 Foreign currency translation ​ 3,419 ​ (289) ​ 3,130 Balance as of September 28, 2024 ​ $ 432,700 ​ $ 203,725 ​ $ 636,425 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure Agriculture Total Gross balance as of September 28, 2024 ​ $ 482,082 ​ $ 323,725 ​ $ 805,807 Accumulated impairment losses ​ ​ (49,382) ​ ​ (120,000) ​ ​ (169,382) Balance as of September 28, 2024 ​ $ 432,700 ​ $ 203,725 ​ $ 636,425
Schedule of Components of Intangible Assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, 2024 December 30, 2023 ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ ​ ​ Carrying ​ Accumulated Carrying ​ Accumulated ​ Amount Amortization Amount Amortization Amortizing intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Customer relationships ​ $ 234,987 ​ $ 167,652 ​ $ 233,852 ​ $ 157,873 Patents and proprietary technology ​ 60,107 ​ 46,880 ​ 59,311 ​ 45,416 Trade names ​ 2,870 ​ ​ 1,369 ​ 2,870 ​ 1,056 Other ​ 4,505 ​ 4,380 ​ 4,787 ​ 4,538 Non-amortizing intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trade names ​ ​ 59,690 ​ ​ — ​ ​ 58,750 ​ ​ — ​ ​ $ 362,159 ​ $ 220,281 ​ $ 359,570 ​ $ 208,883

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	9 Months Ended
	Sep. 28, 2024
EARNINGS (LOSS) PER SHARE
Schedule of Reconciliation of Basic and Diluted Earnings Per Share	The following table provides a reconciliation between the net earnings (loss) attributable to Valmont Industries, Inc. and weighted average share amounts used to compute both basic and diluted earnings (loss) per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Thirty-nine weeks ended ​ ​ September 28, ​ September 30, ​ September 28, ​ September 30, ​ ​ 2024 2023 2024 2023 Net earnings (loss) attributable to Valmont Industries, Inc. ​ $ 83,068 ​ $ (49,028) ​ $ 270,606 ​ $ 114,888 Weighted average shares outstanding (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ ​ 20,092 ​ ​ 20,951 ​ ​ 20,152 ​ ​ 21,083 Dilutive effect of various stock awards ​ ​ 142 ​ ​ — ​ ​ 131 ​ ​ 207 Diluted ​ ​ 20,234 ​ ​ 20,951 ​ ​ 20,283 ​ ​ 21,290 Net earnings (loss) attributable to Valmont Industries, Inc. per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ $ 4.13 ​ $ (2.34) ​ $ 13.43 ​ $ 5.45 Dilutive effect of various stock awards ​ ​ (0.02) ​ ​ — ​ ​ (0.09) ​ ​ (0.05) Diluted ​ $ 4.11 ​ $ (2.34) ​ $ 13.34 ​ $ 5.40

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 28, 2024
DERIVATIVE FINANCIAL INSTRUMENTS
Schedule of Fair Value of Derivative Instruments	The fair value of derivative instruments as of September 28, 2024 and December 30, 2023 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidated ​ September 28, ​ December 30, Derivatives designated as hedging instruments: Balance Sheets location ​ 2024 ​ 2023 Commodity contracts ​ Prepaid expenses and other current assets ​ $ 440 ​ $ 2,520 Commodity contracts ​ Other accrued expenses ​ ​ (1,635) ​ ​ (1,586) Cross currency swap contracts Prepaid expenses and other current assets ​ ​ 548 ​ 1,938 Cross currency swap contracts Other accrued expenses ​ ​ (2,711) ​ (12) ​ ​ ​ ​ $ (3,358) ​ $ 2,860
Schedule of Gains (Losses) on Derivatives Recognized on Statements of Earnings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Condensed Consolidated ​ Thirteen weeks ended ​ Thirty-nine weeks ended Derivatives designated ​ Statements of Operations ​ September 28, ​ September 30, ​ September 28, ​ September 30, as hedging instruments: ​ location ​ 2024 2023 2024 2023 Commodity contracts ​ Product cost of sales ​ $ (1,552) ​ $ (997) ​ $ (993) ​ $ (6,060) Foreign currency forward contracts ​ Other income (expenses) ​ ​ — ​ — ​ ​ — ​ 177 Interest rate hedge amortization ​ Interest expense ​ ​ (16) ​ (16) ​ ​ (48) ​ (48) Cross currency swap contracts ​ Interest expense ​ ​ 248 ​ 476 ​ ​ 934 ​ 1,371 ​ ​ ​ ​ $ (1,320) ​ $ (537) ​ $ (107) ​ $ (4,560)
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 ​ $ 15,293 ​ 18,500 short tons September 2024 to April 2025 Natural gas ​ ​ 2,159 ​ 543,825 MMBtu ​ October 2024 to March 2026 Ultra-low-sulfur diesel fuel ​ ​ 1,042 ​ 4,410,000 gallons ​ September 2024 to March 2026
Net Investment Hedging
DERIVATIVE FINANCIAL INSTRUMENTS
Schedule of notional amounts of outstanding derivative	Key terms of the CCS net investment hedges as of September 28, 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)	9 Months Ended
	Sep. 28, 2024
BUSINESS SEGMENTS & RELATED REVENUE INFORMATION [Abstract]
Schedule of Segment Reporting Information of Sales and Operating Income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended ​ Thirty-nine weeks ended ​ ​ September 28, September 30, September 28, September 30, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 SALES: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Infrastructure ​ $ 758,579 ​ $ 755,076 ​ $ 2,244,935 ​ $ 2,261,777 Agriculture ​ 265,286 ​ 298,483 ​ 805,724 ​ 910,579 Total sales ​ 1,023,865 ​ 1,053,559 ​ 3,050,659 ​ 3,172,356 INTERSEGMENT SALES: ​ ​ ​ ​ ​ ​ ​ Infrastructure ​ (2,209) ​ (1,450) ​ (7,402) ​ (7,853) Agriculture ​ (1,481) ​ (1,814) ​ (5,517) ​ (5,431) Total intersegment sales ​ (3,690) ​ (3,264) ​ (12,919) ​ (13,284) NET SALES: ​ ​ ​ ​ Infrastructure ​ 756,370 ​ 753,626 ​ 2,237,533 ​ 2,253,924 Agriculture ​ 263,805 ​ 296,669 ​ 800,207 ​ 905,148 Total net sales ​ $ 1,020,175 ​ $ 1,050,295 ​ $ 3,037,740 ​ $ 3,159,072 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ OPERATING INCOME (LOSS): ​ ​ ​ ​ Infrastructure ​ $ 123,657 ​ $ 103,401 ​ $ 375,102 ​ $ 313,703 Agriculture ​ 28,893 ​ (99,670) ​ 109,837 ​ 2,904 Total segment operating income ​ ​ 152,550 ​ ​ 3,731 ​ ​ 484,939 ​ ​ 316,607 Unallocated corporate expenses ​ (26,815) ​ (27,921) ​ (80,343) ​ (88,598) Total operating income (loss) ​ $ 125,735 ​ $ (24,190) ​ $ 404,596 ​ $ 228,009
Schedule of breakdown by segment of revenue recognized	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended September 28, 2024 ​ ​ Infrastructure Agriculture ​ Intersegment Consolidated Geographical market: ​ ​ ​ ​ ​ ​ North America ​ $ 599,705 ​ $ 119,973 ​ $ (3,684) ​ $ 715,994 International ​ 158,874 ​ 145,313 ​ (6) ​ 304,181 Total sales ​ $ 758,579 ​ $ 265,286 ​ $ (3,690) ​ $ 1,020,175 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 342,401 ​ $ — ​ $ — ​ $ 342,401 Lighting and Transportation ​ 229,219 ​ — ​ — ​ 229,219 Coatings ​ 88,046 ​ — ​ (2,201) ​ 85,845 Telecommunications ​ 64,288 ​ — ​ — ​ 64,288 Solar ​ 34,625 ​ — ​ (8) ​ 34,617 Irrigation Equipment and Parts ​ — ​ 243,368 ​ (1,481) ​ 241,887 Technology Products and Services ​ — ​ 21,918 ​ — ​ 21,918 Total sales ​ $ 758,579 ​ $ 265,286 ​ $ (3,690) ​ $ 1,020,175 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended September 30, 2023 ​ ​ Infrastructure Agriculture Intersegment Consolidated Geographical market: ​ ​ ​ ​ ​ North America ​ $ 572,239 ​ $ 126,828 ​ $ (3,055) ​ $ 696,012 International ​ 182,837 ​ 171,655 ​ (209) ​ 354,283 Total sales ​ $ 755,076 ​ $ 298,483 ​ $ (3,264) ​ $ 1,050,295 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 297,967 ​ $ — ​ $ — ​ $ 297,967 Lighting and Transportation ​ 252,603 ​ — ​ — ​ 252,603 Coatings ​ 88,967 ​ — ​ (1,241) ​ 87,726 Telecommunications ​ 59,630 ​ — ​ — ​ 59,630 Solar ​ 55,909 ​ — ​ (209) ​ 55,700 Irrigation Equipment and Parts ​ — ​ 273,639 ​ (1,814) ​ 271,825 Technology Products and Services ​ — ​ 24,844 ​ — ​ 24,844 Total sales ​ $ 755,076 ​ $ 298,483 ​ $ (3,264) ​ $ 1,050,295 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirty-nine weeks ended September 28, 2024 ​ ​ Infrastructure Agriculture Intersegment Consolidated Geographical market: ​ ​ ​ ​ ​ North America ​ $ 1,750,420 ​ $ 441,198 ​ $ (12,836) ​ $ 2,178,782 International ​ 494,515 ​ 364,526 ​ (83) ​ 858,958 Total sales ​ $ 2,244,935 ​ $ 805,724 ​ $ (12,919) ​ $ 3,037,740 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 990,744 ​ $ — ​ $ — ​ $ 990,744 Lighting and Transportation ​ 694,877 ​ — ​ — ​ 694,877 Coatings ​ 266,710 ​ — ​ (7,321) ​ 259,389 Telecommunications ​ 176,649 ​ — ​ — ​ 176,649 Solar ​ 115,955 ​ — ​ (81) ​ 115,874 Irrigation Equipment and Parts ​ — ​ 730,798 ​ (5,517) ​ 725,281 Technology Products and Services ​ — ​ 74,926 ​ — ​ 74,926 Total sales ​ $ 2,244,935 ​ $ 805,724 ​ $ (12,919) ​ $ 3,037,740 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirty-nine weeks ended September 30, 2023 ​ ​ Infrastructure Agriculture Intersegment Consolidated Geographical market: ​ ​ ​ ​ ​ North America ​ $ 1,743,635 ​ $ 450,678 ​ $ (12,042) ​ $ 2,182,271 International ​ 518,142 ​ 459,901 ​ (1,242) ​ 976,801 Total sales ​ $ 2,261,777 ​ $ 910,579 ​ $ (13,284) ​ $ 3,159,072 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product line: ​ ​ ​ ​ Transmission, Distribution, and Substation ​ $ 927,094 ​ $ — ​ $ — ​ $ 927,094 Lighting and Transportation ​ 727,862 ​ — ​ — ​ 727,862 Coatings ​ 270,201 ​ — ​ (6,611) ​ 263,590 Telecommunications ​ 195,505 ​ — ​ — ​ 195,505 Solar ​ 141,115 ​ — ​ (1,242) ​ 139,873 Irrigation Equipment and Parts ​ — ​ 825,277 ​ (5,431) ​ 819,846 Technology Products and Services ​ — ​ 85,302 ​ — ​ 85,302 Total sales ​ $ 2,261,777 ​ $ 910,579 ​ $ (13,284) ​ $ 3,159,072
Breakdown by segment of revenue recognized over time and at a point in time	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended September 28, 2024 Thirty-nine weeks ended September 28, 2024 ​ Point in Time ​ Over Time ​ Total Point in Time ​ Over Time ​ Total Infrastructure ​ $ 421,042 ​ $ 335,328 ​ $ 756,370 ​ $ 1,241,229 ​ $ 996,304 ​ $ 2,237,533 Agriculture ​ 254,854 ​ ​ 8,951 ​ 263,805 ​ 776,625 ​ ​ 23,582 ​ 800,207 Total net sales ​ $ 675,896 ​ $ 344,279 ​ $ 1,020,175 ​ $ 2,017,854 ​ $ 1,019,886 ​ $ 3,037,740 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen weeks ended September 30, 2023 ​ Thirty-nine weeks ended September 30, 2023 ​ ​ Point in Time Over Time Total ​ Point in Time Over Time Total Infrastructure ​ $ 453,829 ​ $ 299,797 ​ $ 753,626 ​ $ 1,316,931 ​ $ 936,993 ​ $ 2,253,924 Agriculture ​ 288,780 ​ ​ 7,889 ​ 296,669 ​ 883,797 ​ ​ 21,351 ​ 905,148 Total net sales ​ $ 742,609 ​ $ 307,686 ​ $ 1,050,295 ​ $ 2,200,728 ​ $ 958,344 ​ $ 3,159,072 ​

BASIS OF PRESENTATION AND SUM_4

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Inventories (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 30, 2023
Inventory, Net [Abstract]
Raw materials and purchased parts	$ 220,963	$ 217,134
Work in process	37,859	37,826
Finished and manufactured goods	352,600	403,468
Total inventories	$ 611,422	$ 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		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Accounting Policies [Abstract]
United States	$ 78,520	$ 31,915	$ 259,463	$ 140,839
Foreign	33,835	(66,570)	103,565	50,447
Earnings (loss) before income taxes and equity in loss of nonconsolidated subsidiaries	$ 112,355	$ (34,655)	$ 363,028	$ 191,286

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		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Interest cost	$ 5,445	$ 5,472	$ 15,929	$ 16,142
Expected return on plan assets	(5,808)	(5,536)	(16,991)	(16,330)
Amortization of prior service cost	132	128	386	374
Amortization of net actuarial loss	396		1,158
Net periodic pension cost	$ 165	$ 64	$ 482	$ 186

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		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Stock-based compensation	$ 7,557	$ 8,954	$ 21,665	$ 28,810
Income tax benefits	$ 1,889	$ 2,239	$ 5,416	$ 7,203
Employee Stock Option
Defined Benefit Plan Disclosure [Line Items]
Shares of common stock available for issuance (in shares)	1,485,078		1,485,078
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	Sep. 28, 2024	Dec. 30, 2023
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation investments	$ 26,619	$ 26,803
Derivative financial instruments, net		2,860
Derivative financial instruments, net	(3,358)
Cash and cash equivalents - mutual funds	8,989	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	26,619	26,803
Derivative financial instruments, net		0
Cash and cash equivalents - mutual funds	8,989	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	$ (3,358)
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	Sep. 28, 2024	Dec. 30, 2023
Accounting Policies [Abstract]
Foreign currency translation adjustments	$ (243,560)	$ (236,690)
Hedging activities	17,777	20,989
Defined benefit pension plan	(56,377)	(57,535)
Accumulated other comprehensive loss	$ (282,160)	$ (273,236)

BASIS OF PRESENTATION AND SU_10

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenues (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023	Dec. 30, 2023
Disaggregation of Revenue [Line Items]
Contract assets	$ 183,085,000		$ 183,085,000		$ 175,721,000
Total contract liabilities	135,950,000		135,950,000		70,978,000
Contract liabilities, current	100,150,000		100,150,000		$ 70,978,000
Revenue recognized from contract liability	5,269,000	$ 49,644,000	46,778,000	$ 149,801,000
Remaining performance obligation	$ 35,800		$ 35,800
Minimum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-09-29
Disaggregation of Revenue [Line Items]
Expected timing of performance obligation satisfaction	12 months		12 months
Maximum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-09-29
Disaggregation of Revenue [Line Items]
Expected timing of performance obligation satisfaction	24 months		24 months
Contract Liabilities
Disaggregation of Revenue [Line Items]
Contract liabilities, current	$ 100,150,000		$ 100,150,000
Other Noncurrent Liabilities
Disaggregation of Revenue [Line Items]
Contract liabilities, noncurrent	$ 35,800,000		$ 35,800,000

BASIS OF PRESENTATION AND SU_11

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Supplier Finance Program (Details) $ in Thousands	9 Months Ended
	Sep. 28, 2024 USD ($)
Accounting Policies [Abstract]
Confirmed obligations outstanding as of December 30, 2023	$ 41,916
Invoices confirmed during the period	159,600
Confirmed invoices paid during the period	(160,693)
Confirmed obligations outstanding as of September 28, 2024	$ 40,823

BASIS OF PRESENTATION AND SU_12

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Jun. 29, 2024	Mar. 30, 2024	Dec. 30, 2023	Sep. 30, 2023	Jul. 01, 2023	Apr. 01, 2023	Dec. 31, 2022
Accounting Policies [Line Items]
Equity, Attributable to Parent	$ 1,541,693	$ 1,471,481	$ 1,409,291	$ 1,354,280	$ 1,501,742	$ 1,612,224	$ 1,540,099	$ 1,580,847
Redeemable noncontrolling interests	$ 46,111			$ 62,792
Revision of Prior Period, Error Correction, Adjustment [Member]
Accounting Policies [Line Items]
Equity, Attributable to Parent					(56,970)	(58,068)	(58,301)	(60,865)
Redeemable noncontrolling interests					$ 56,970	$ 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

9 Months Ended

Nov. 30, 2023

May 31, 2014

Sep. 28, 2024

Jun. 29, 2024

Mar. 30, 2024

Dec. 30, 2023

Sep. 30, 2023

Jul. 01, 2023

Apr. 01, 2023

Sep. 28, 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

140,562

59,186

96,224

126,482

85,300

356,887

8,191,696

Amount paid for share repurchase

$ 1,318,961

$ 1,318,961

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			3 Months Ended	9 Months Ended
	Aug. 31, 2023 USD ($) payment	Aug. 31, 2023 AUD ($)	Mar. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 28, 2024 USD ($)	Dec. 30, 2023 USD ($)	Aug. 31, 2023 AUD ($) payment
Business Acquisition [Line Items]
Acquisitions, net of cash acquired				$ 31,839
Fair Values of Assets Acquired and Liabilities Assumed [Abstract]
Goodwill					$ 636,425	$ 632,964
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	9,508
Customer relationships	11,503
Other non-current assets	3,997
Total fair value of assets acquired	50,558
Current liabilities	4,183
Deferred income taxes	3,046
Operating lease liabilities	2,792
Total fair value of liabilities assumed	10,021
Net assets acquired	$ 40,537
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	9 Months Ended
	Apr. 30, 2023	Jul. 01, 2023	Sep. 30, 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
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) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 30, 2023
Restructuring Cost and Reserve [Line Items]
Severance and other employee benefit costs	$ 4,180	$ 4,180	$ 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	1,069		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	907		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	$ 2,204		$ 8,849

REALIGNMENT ACTIVITIES - Change

REALIGNMENT ACTIVITIES - Changes in Current Liabilities (Details) - Voluntary early retirement program and other headcount reduction actions - Realignment Program $ in Thousands	9 Months Ended
	Sep. 28, 2024 USD ($)
Restructuring Cost and Reserve [Roll Forward]
Severance and other employee benefit costs, beginning balance	$ 12,514
Costs Paid or Otherwise Settled	(11,833)
Severance and other employee benefit costs, ending balance	$ 681

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 28, 2024	Dec. 30, 2023
Goodwill [Line Items]
Goodwill, Gross	$ 805,807	$ 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	331
Foreign currency translation	3,130
Balance at the end of the period	636,425
Infrastructure [Member]
Goodwill [Line Items]
Goodwill, Gross	482,082	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	3,419
Balance at the end of the period	432,700
Agriculture [Member]
Goodwill [Line Items]
Goodwill, Gross	323,725	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	331
Foreign currency translation	(289)
Balance at the end of the period	$ 203,725

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Amortizing Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023	Dec. 30, 2023
Components of amortized intangible assets
Weighted Average Life	3 years		3 years		3 years
Amortization expense for intangible assets	$ 3,112	$ 5,191	$ 10,183	$ 15,606
Estimated Amortization Expense
Remainder of 2024	10,273		10,273
2025	10,273		10,273
2026	10,273		10,273
2027	10,273		10,273
2028	10,273		10,273
2029	10,273		10,273
Customer relationships
Components of amortized intangible assets
Gross Carrying Amount	234,987		234,987		$ 233,852
Accumulated Amortization	167,652		167,652		157,873
Patents & Proprietary Technology
Components of amortized intangible assets
Gross Carrying Amount	60,107		60,107		59,311
Accumulated Amortization	46,880		46,880		45,416
Trade names
Components of amortized intangible assets
Gross Carrying Amount	2,870		2,870		2,870
Accumulated Amortization	1,369		1,369		1,056
Other
Components of amortized intangible assets
Gross Carrying Amount	4,505		4,505		4,787
Accumulated Amortization	$ 4,380		$ 4,380		$ 4,538

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Non-Amortized Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 30, 2023
Trade names
Non-amortized intangible assets
Non-amortizing intangible assets	$ 59,690	$ 58,750

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS - Total Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 30, 2023
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Amortizing and non-amortizing intangible assets, Gross Carrying Amount	$ 362,159	$ 359,570
Intangible Assets, Accumulated Amortization	$ 220,281	$ 208,883

GOODWILL AND OTHER INTANGIBLE_7

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2023 USD ($)
Agriculture
Indefinite-lived Intangible Assets
Goodwill impairment	$ 120,000
Agriculture | Proprietary technology intangible asset related to Prospera | Prospera
Indefinite-lived Intangible Assets
Impairment charge for intangible assets	17,273
Infrastructure
Indefinite-lived Intangible Assets
Goodwill impairment	1,915
Infrastructure | Trade names
Indefinite-lived Intangible Assets
Impairment of intangible assets	$ 1,656

CASH FLOW SUPPLEMENTARY INFORMA

CASH FLOW SUPPLEMENTARY INFORMATION (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Interest	$ 35,973	$ 30,932
Income taxes	$ 84,548	$ 88,930

EARNINGS (LOSS) PER SHARE - Rec

EARNINGS (LOSS) 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		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
EARNINGS (LOSS) PER SHARE
Net earnings (loss) attributable to Valmont Industries, Inc.	$ 83,068	$ (49,028)	$ 270,606	$ 114,888
Weighted average shares outstanding (000s):
Basic (in shares)	20,092	20,951	20,152	21,083
Dilutive effect of various stock awards (in shares)	142		131	207
Diluted (in shares)	20,234	20,951	20,283	21,290
Net earnings per share attributable to common shareholders:
Basic (in dollars per share)	$ 4.13	$ (2.34)	$ 13.43	$ 5.45
Dilutive effect of various stock awards (in dollars per share)	(0.02)		(0.09)	(0.05)
Diluted (in dollars per share)	$ 4.11	$ (2.34)	$ 13.34	$ 5.40

EARNINGS (LOSS) PER SHARE - Nar

EARNINGS (LOSS) PER SHARE - Narrative (Details) - shares shares in Thousands	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
EARNINGS (LOSS) PER SHARE
Outstanding stock options with exercise prices exceeding the market price of common stock, excluded from the computation of diluted earnings per share (in shares)	22,600	42,774

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Fair Value of Derivatives (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 30, 2023
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	$ (3,358)	$ 2,860
Commodity contracts | Other accrued expenses
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	(1,635)	(1,586)
Commodity contracts | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	440	2,520
Cross currency swap contracts | Other accrued expenses
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	(2,711)	(12)
Cross currency swap contracts | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Derivative assets (liabilities), at fair value, net	$ 548	$ 1,938

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Gain (Loss) on Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ (1,320)	$ (537)	$ (107)	$ (4,560)
Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ (1,552)	$ (997)	$ (993)	$ (6,060)
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				$ 177
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]				Other Nonoperating Income (Expense)
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ (16)	$ (16)	$ (48)	$ (48)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense, Nonoperating	Interest Expense, Nonoperating	Interest Expense, Nonoperating	Interest Expense, Nonoperating
Cross currency swap contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ 248	$ 476	$ 934	$ 1,371
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense, Nonoperating	Interest Expense, Nonoperating	Interest Expense, Nonoperating	Interest Expense, Nonoperating

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) $ in Thousands	9 Months Ended
	Sep. 28, 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) - Cash Flow Hedging - Commodity contracts - Long $ in Thousands	9 Months Ended
	Sep. 28, 2024 USD ($) MMBTU T gal
Hot rolled steel coil
DERIVATIVE FINANCIAL INSTRUMENTS
Notional Amount	$ 15,293
Maturity Dates	Apr. 30, 2025
Derivative, nonmonetary notional amount, mass | T	18,500
Natural gas
DERIVATIVE FINANCIAL INSTRUMENTS
Notional Amount	$ 2,159
Maturity Dates	Mar. 31, 2026
Derivative, nonmonetary notional amount, energy measure | MMBTU	543,825
Ultra-low-sulfur diesel fuel
DERIVATIVE FINANCIAL INSTRUMENTS
Notional Amount	$ 1,042
Maturity Dates	Mar. 31, 2026
Derivative, nonmonetary notional amount, volume measure | gal	4,410,000

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	Sep. 28, 2024 USD ($)	Sep. 28, 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		9 Months Ended
	Sep. 28, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 28, 2024 USD ($) segment	Sep. 30, 2023 USD ($)
Business Segments
Number of reportable segments | segment			2
Net sales	$ 1,020,175	$ 1,050,295	$ 3,037,740	$ 3,159,072
Operating income (loss)	125,735	(24,190)	404,596	228,009
Point in Time
Business Segments
Net sales	675,896	742,609	2,017,854	2,200,728
Over Time
Business Segments
Net sales	344,279	307,686	1,019,886	958,344
Transmission, Distribution and Substation
Business Segments
Net sales	342,401	297,967	990,744	927,094
Lighting and Transportation
Business Segments
Net sales	229,219	252,603	694,877	727,862
Coatings
Business Segments
Net sales	85,845	87,726	259,389	263,590
Telecommunications
Business Segments
Net sales	64,288	59,630	176,649	195,505
Solar
Business Segments
Net sales	34,617	55,700	115,874	139,873
Irrigation Equipment and Parts
Business Segments
Net sales	241,887	271,825	725,281	819,846
Technology Products and Services
Business Segments
Net sales	21,918	24,844	74,926	85,302
North America
Business Segments
Net sales	715,994	696,012	2,178,782	2,182,271
International
Business Segments
Net sales	304,181	354,283	858,958	976,801
Infrastructure
Business Segments
Net sales	756,370	753,626	2,237,533	2,253,924
Infrastructure | Point in Time
Business Segments
Net sales	421,042	453,829	1,241,229	1,316,931
Infrastructure | Over Time
Business Segments
Net sales	335,328	299,797	996,304	936,993
Agriculture
Business Segments
Net sales	263,805	296,669	800,207	905,148
Agriculture | Point in Time
Business Segments
Net sales	254,854	288,780	776,625	883,797
Agriculture | Over Time
Business Segments
Net sales	8,951	7,889	23,582	21,351
Operating segment
Business Segments
Net sales	1,023,865	1,053,559	3,050,659	3,172,356
Operating income (loss)	152,550	3,731	484,939	316,607
Operating segment | Infrastructure
Business Segments
Net sales	758,579	755,076	2,244,935	2,261,777
Operating income (loss)	123,657	103,401	375,102	313,703
Operating segment | Infrastructure | Transmission, Distribution and Substation
Business Segments
Net sales	342,401	297,967	990,744	927,094
Operating segment | Infrastructure | Lighting and Transportation
Business Segments
Net sales	229,219	252,603	694,877	727,862
Operating segment | Infrastructure | Coatings
Business Segments
Net sales	88,046	88,967	266,710	270,201
Operating segment | Infrastructure | Telecommunications
Business Segments
Net sales	64,288	59,630	176,649	195,505
Operating segment | Infrastructure | Solar
Business Segments
Net sales	34,625	55,909	115,955	141,115
Operating segment | Infrastructure | North America
Business Segments
Net sales	599,705	572,239	1,750,420	1,743,635
Operating segment | Infrastructure | International
Business Segments
Net sales	158,874	182,837	494,515	518,142
Operating segment | Agriculture
Business Segments
Net sales	265,286	298,483	805,724	910,579
Operating income (loss)	28,893	(99,670)	109,837	2,904
Operating segment | Agriculture | Irrigation Equipment and Parts
Business Segments
Net sales	243,368	273,639	730,798	825,277
Operating segment | Agriculture | Technology Products and Services
Business Segments
Net sales	21,918	24,844	74,926	85,302
Operating segment | Agriculture | North America
Business Segments
Net sales	119,973	126,828	441,198	450,678
Operating segment | Agriculture | International
Business Segments
Net sales	145,313	171,655	364,526	459,901
Unallocated corporate segment
Business Segments
Operating income (loss)	(26,815)	(27,921)	(80,343)	(88,598)
Intersegment
Business Segments
Net sales	(3,690)	(3,264)	(12,919)	(13,284)
Intersegment | Coatings
Business Segments
Net sales	(2,201)	(1,241)	(7,321)	(6,611)
Intersegment | Solar
Business Segments
Net sales	(8)	(209)	(81)	(1,242)
Intersegment | Irrigation Equipment and Parts
Business Segments
Net sales	(1,481)	(1,814)	(5,517)	(5,431)
Intersegment | North America
Business Segments
Net sales	(3,684)	(3,055)	(12,836)	(12,042)
Intersegment | International
Business Segments
Net sales	(6)	(209)	(83)	(1,242)
Intersegment | Infrastructure
Business Segments
Net sales	(2,209)	(1,450)	(7,402)	(7,853)
Intersegment | Agriculture
Business Segments
Net sales	$ (1,481)	$ (1,814)	$ (5,517)	$ (5,431)