Valmont Industries (VMI) 10-Q 29 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 27, 2015	Jul. 22, 2015
Document and Entity Information
Entity Registrant Name	VALMONT INDUSTRIES INC
Entity Central Index Key	102,729
Document Type	10-Q
Document Period End Date	Jun. 27, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-26
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		23,248,776
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
Product sales	$ 611,782	$ 766,844	$ 1,215,676	$ 1,447,887
Services sales	70,341	75,755	136,845	146,452
Net sales	682,123	842,599	1,352,521	1,594,339
Product cost of sales	461,173	573,067	920,714	1,070,910
Services cost of sales	51,402	49,055	96,805	95,970
Total cost of sales	512,575	622,122	1,017,519	1,166,880
Gross profit	169,548	220,477	335,002	427,459
Selling, general and administrative expenses	115,548	115,701	223,319	223,835
Operating income	54,000	104,776	111,683	203,624
Other income (expenses):
Interest expense	(11,232)	(8,304)	(22,360)	(16,501)
Interest income	616	1,577	1,490	3,316
Other	(28)	1,903	988	(3,909)
Total other income (expenses)	(10,644)	(4,824)	(19,882)	(17,094)
Earnings before income taxes	43,356	99,952	91,801	186,530
Income tax expense (benefit):
Current	19,136	26,117	30,910	59,055
Deferred	(5,219)	7,953	(55)	5,030
Total income tax expense (benefit)	13,917	34,070	30,855	64,085
Earnings before equity in earnings of nonconsolidated subsidiaries	29,439	65,882	60,946	122,445
Equity in earnings of nonconsolidated subsidiaries		(30)		(30)
Net earnings	29,439	65,852	60,946	122,415
Less: Earnings attributable to noncontrolling interests	(1,566)	(1,876)	(2,334)	(2,459)
Net earnings attributable to Valmont Industries, Inc.	$ 27,873	$ 63,976	$ 58,612	$ 119,956
Earnings per share:
Basic (in dollars per share)	$ 1.19	$ 2.40	$ 2.48	$ 4.50
Diluted (in dollars per share)	1.19	2.38	2.47	4.46
Cash dividends declared per share (in dollars per share)	$ 0.375	$ 0.375	$ 0.750	$ 0.625
Weighted average number of shares of common stock outstanding - Basic (000 omitted) (in shares)	23,336	26,623	23,602	26,669
Weighted average number of shares of common stock outstanding - Diluted (000 omitted) (in shares)	23,450	26,856	23,716	26,903

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net earnings	$ 29,439	$ 65,852	$ 60,946	$ 122,415
Foreign currency translation adjustments:
Unrealized translation gain (loss)	18,328	13,869	(39,850)	25,506
Unrealized gain/(loss) on cash flow hedge:
Amortization cost included in interest expense	19	(33)	37	67
Gain on cash flow hedges	751		1,045
Actuarial gain (loss) in defined benefit pension plan		(614)		(847)
Other comprehensive income (loss)	19,098	13,222	(38,768)	24,726
Comprehensive income (loss)	48,537	79,074	22,178	147,141
Comprehensive loss (income) attributable to noncontrolling interests	(1,968)	(1,792)	(641)	(1,704)
Comprehensive income (loss) attributable to Valmont Industries, Inc.	$ 46,569	$ 77,282	$ 21,537	$ 145,437

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 27, 2015	Dec. 27, 2014
Current assets:
Cash and cash equivalents	$ 317,523	$ 371,579
Receivables, net	491,706	536,918
Inventories	379,897	359,522
Prepaid expenses	56,653	56,912
Refundable and deferred income taxes	44,072	68,010
Total current assets	1,289,851	1,392,941
Property, plant and equipment, at cost	1,123,885	1,139,569
Less accumulated depreciation and amortization	552,908	533,116
Net property, plant and equipment	570,977	606,453
Goodwill	380,086	385,111
Other intangible assets, net	189,892	202,004
Other assets	136,586	143,159
Total assets	2,567,392	2,729,668
Current liabilities:
Current installments of long-term debt	1,096	1,181
Notes payable to banks	7,914	13,952
Accounts payable	186,421	196,565
Accrued employee compensation and benefits	75,155	87,950
Accrued expenses	89,983	88,480
Dividends payable	8,733	9,086
Total current liabilities	369,302	397,214
Deferred income taxes	62,959	71,797
Long-term debt, excluding current installments	765,272	766,654
Defined benefit pension liability	135,068	150,124
Deferred compensation	51,056	47,932
Other noncurrent liabilities	$ 43,142	$ 45,542
Shareholders' equity:
Preferred stock of $1 par value - Authorized 500,000 shares; none issued
Common stock of $1 par value - Authorized 75,000,000 shares; issued 27,900,000 shares	$ 27,900	$ 27,900
Retained earnings	1,762,534	1,718,662
Accumulated other comprehensive income (loss)	(171,508)	(134,433)
Treasury stock	(525,877)	(410,296)
Total Valmont Industries, Inc. shareholders' equity	1,093,049	1,201,833
Noncontrolling interest in consolidated subsidiaries	47,544	48,572
Total shareholders' equity	1,140,593	1,250,405
Total liabilities and shareholders' equity	$ 2,567,392	$ 2,729,668

CONDENSED CONSOLIDATED BALANCE5

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 27, 2015	Dec. 27, 2014
CONDENSED CONSOLIDATED BALANCE SHEETS
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, Authorized shares	500,000	500,000
Preferred stock, issued shares	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, Authorized shares	75,000,000	75,000,000
Common stock, issued shares	27,900,000	27,900,000

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Cash flows from operating activities:
Net earnings	$ 60,946	$ 122,415
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and amortization	47,761	43,368
Noncash loss on trading securities	4,582	3,501
Impairment of assets	9,292
Stock-based compensation	3,513	3,686
Defined benefit pension plan expense	(305)	1,334
Contribution to defined benefit pension plan	(15,735)	(17,484)
Gain on sale of property, plant and equipment	542	(102)
Equity in earnings in nonconsolidated subsidiaries		30
Deferred income taxes	(55)	5,030
Changes in assets and liabilities (net of acquisitions):
Receivables	32,511	21,083
Inventories	(27,746)	6,624
Prepaid expenses	(3,087)	(18,289)
Accounts payable	(5,021)	(28,633)
Accrued expenses	(6,431)	(30,415)
Other noncurrent liabilities	1,761	1,766
Income taxes refundable	15,817	(22,063)
Net cash flows from operating activities	118,345	91,851
Cash flows from investing activities:
Purchase of property, plant and equipment	(24,758)	(46,991)
Proceeds from sale of assets	1,101	1,151
Acquisitions, net of cash acquired		(120,483)
Other, net	5,896	(2,940)
Net cash flows from investing activities	(17,761)	(169,263)
Cash flows from financing activities:
Net borrowings under short-term agreements	(5,890)	(1,861)
Proceeds from long-term borrowings	33,000
Principal payments on long-term borrowings	(33,657)	(259)
Dividends paid	(17,956)	(13,427)
Dividends to noncontrolling interest	(1,669)	(1,340)
Purchase of treasury shares	(121,020)	(77,084)
Proceeds from exercises under stock plans	9,454	11,996
Excess tax benefits from stock option exercises	1,394	3,576
Purchase of common treasury shares - stock plan exercises	(10,490)	(11,984)
Net cash flows from financing activities	(146,834)	(90,383)
Effect of exchange rate changes on cash and cash equivalents	(7,806)	10,016
Net change in cash and cash equivalents	(54,056)	(157,779)
Cash and cash equivalents - beginning of year	371,579	613,706
Cash and cash equivalents - end of period	$ 317,523	$ 455,927

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Locker [Member]Noncontrolling interest in consolidated subsidiaries	Locker [Member]	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss)	Treasury stock	Noncontrolling interest in consolidated subsidiaries	Total
Balance at Dec. 28, 2013			$ 27,900		$ 1,562,670	$ (47,685)	$ (20,860)	$ 22,821	$ 1,544,846
Increase (Decrease) in Shareholders' Equity
Net earnings					119,956			2,459	122,415
Other comprehensive income (loss)						25,481		(755)	24,726
Cash dividends declared					(16,651)				(16,651)
Dividends to noncontrolling interests								(1,340)	(1,340)
Acquisition of DS SM	$ 9,232	$ 9,232
Addition of noncontrolling interest								404	404
Purchase of treasury shares; 989,821 and 490,172 shares acquired for the period ended June 2015 and 2014, respectively							(77,084)		(77,084)
Stock plan exercises; 82,989 and 78,217 shares acquired for the period ended June 2015 and 2014, respectively							(11,984)		(11,984)
Stock options exercised; 119,687 and 158,317 shares issued for the period ended June 2015 and 2014, respectively				$ (7,262)	6,312		12,946		11,996
Tax benefit from stock option exercises				3,576					3,576
Stock option expense				2,525					2,525
Stock awards; 4,846 and 8,822 shares issued for the period ended June 2015 and 2014, respectively				1,161			1,268		2,429
Balance at Jun. 28, 2014			27,900		1,672,287	(22,204)	(95,714)	32,821	1,615,090
Balance at Dec. 27, 2014			27,900		1,718,662	(134,433)	(410,296)	48,572	1,250,405
Increase (Decrease) in Shareholders' Equity
Net earnings					58,612			2,334	60,946
Other comprehensive income (loss)						(37,075)		(1,693)	(38,768)
Cash dividends declared					(17,603)				(17,603)
Dividends to noncontrolling interests								(1,669)	(1,669)
Purchase of treasury shares; 989,821 and 490,172 shares acquired for the period ended June 2015 and 2014, respectively							(121,020)		(121,020)
Stock plan exercises; 82,989 and 78,217 shares acquired for the period ended June 2015 and 2014, respectively							(10,490)		(10,490)
Stock options exercised; 119,687 and 158,317 shares issued for the period ended June 2015 and 2014, respectively				(8,860)	2,863		15,451		9,454
Tax benefit from stock option exercises				1,394					1,394
Stock option expense				2,653					2,653
Stock awards; 4,846 and 8,822 shares issued for the period ended June 2015 and 2014, respectively				$ 4,813			478		5,291
Balance at Jun. 27, 2015			$ 27,900		$ 1,762,534	$ (171,508)	$ (525,877)	$ 47,544	$ 1,140,593

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - shares	6 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
Purchase of treasury shares, shares	989,821	490,172
Stock plan exercises; shares acquired	82,989	78,217
Stock options exercised; shares issued	119,687	158,317
Stock awards; shares issued	4,846	8,822

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 27, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	(1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Condensed Consolidated Financial Statements The Condensed Consolidated Balance Sheet as of June 27, 2015, the Condensed Consolidated Statements of Earnings and Comprehensive Income for the thirteen and twenty-six weeks ended June 27, 2015 and June 28, 2014, and the Condensed Consolidated Statements of Cash Flows and Shareholders' Equity for the twenty-six week period then ended have been prepared by the Company, without audit. In the opinion of management, all necessary adjustments (which include normal recurring adjustments) have been made to present fairly the financial statements as of June 27, 2015 and for all periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These Condensed Consolidated Financial Statements should be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended December 27, 2014. The accounting policies and methods of computation followed in these interim financial statements are the same as those followed in the financial statements for the year ended December 27, 2014. The results of operations for the period ended June 27, 2015 are not necessarily indicative of the operating results for the full year. Inventories Approximately 36% and 44% of inventory is valued at the lower of cost, determined on the last-in, first-out (LIFO) method, or market as of June 27, 2015 and December 27, 2014, respectively. All other inventory is valued at the lower of cost, determined on the first-in, first-out (FIFO) method or market. Finished goods and manufactured goods inventories include the costs of acquired raw materials and related factory labor and overhead charges required to convert raw materials to manufactured and finished goods. The excess of replacement cost of inventories over the LIFO value is approximately $39,093 and $47,178 at June 27, 2015 and December 27, 2014, respectively. Inventories consisted of the following: June 27, 2015 December 27, 2014 Raw materials and purchased parts $ $ Work-in-process Finished goods and manufactured goods ​ ​ ​ ​ ​ ​ ​ ​ Subtotal Less: LIFO reserve ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income Taxes Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries for the thirteen and twenty-six weeks ended June 27, 2015 and June 28, 2014, were as follows: Thirteen Weeks Ended Twenty-six Weeks Ended 2015 2014 2015 2014 United States $ $ $ $ Foreign ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension Benefits The Company incurs expenses in connection with the Delta Pension Plan ("DPP"). The DPP was acquired as part of the Delta plc acquisition in fiscal 2010 and has no members that are active employees. In order to measure expense and the related benefit obligation, various assumptions are made including discount rates used to value the obligation, expected return on plan assets used to fund these expenses and estimated future inflation rates. These assumptions are based on historical experience as well as current facts and circumstances. An actuarial analysis is used to measure the expense and liability associated with pension benefits. The components of the net periodic pension (benefit) expense for the thirteen and twenty-six weeks ended June 27, 2015 and June 28, 2014 were as follows: Thirteen Weeks Ended Twenty-six Weeks Ended 2015 2014 2015 2014 Net periodic (benefit) expense: Interest cost $ $ $ $ Expected return on plan assets ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net periodic (benefit) expense $ ) $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock Plans The Company maintains stock-based compensation plans approved by the shareholders, which provide that the Human Resource Committee of the Board of Directors may grant incentive stock options, nonqualified stock options, stock appreciation rights, non-vested stock awards and bonuses of common stock. At June 27, 2015, 1,176,222 shares of common stock remained available for issuance under the plans. Shares and options issued and available are subject to changes in capitalization. Under the plans, the exercise price of each option equals the closing market price at the date of the grant. Options vest beginning on the first anniversary of the grant in equal amounts over three to six years or on the fifth anniversary of the grant. Expiration of grants is from six to ten years from the date of grant. The Company's compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options for the thirteen and twenty-six weeks ended June 27, 2015 and June 28, 2014, respectively, were as follows: Thirteen Weeks Ended Twenty-six Weeks Ended 2015 2014 2015 2014 Compensation expense $ $ $ $ Income tax benefits Equity Method Investments The Company has equity method investments in non-consolidated subsidiaries, which are recorded within "Other assets" on the Condensed Consolidated Balance Sheet. Fair Value The Company applies the provisions of Accounting Standards Codification 820, Fair Value Measurements ("ASC 820") which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The provisions of ASC 820 apply to other accounting pronouncements that require or permit fair value measurements. As defined in ASC 820, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Financial assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. The categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Following is a description of the valuation methodologies used for assets and liabilities measured at fair value. Trading Securities: The assets and liabilities recorded for the investments held in the Valmont Deferred Compensation Plan of $39,789 ($36,439 at December 27, 2014) represent mutual funds, invested in debt and equity securities, classified as trading securities in accordance with Accounting Standards Codification 320, Accounting for Certain Investments in Debt and Equity Securities , considering the employee's ability to change investment allocation of their deferred compensation at any time. The Company's ownership of shares in Delta EMD Pty. Ltd. (JSE:DTA) is also classified as trading securities. During first quarter of 2015, the Company received a special dividend of $5,010 from Delta EMD Pty. Ltd and the market price of the shares were proportionately decreased accordingly. The shares are valued at $4,966 and $9,034 as of June 27, 2015 and December 27, 2014, respectively, which is the estimated fair value. Quoted market prices are available for these securities in an active market and therefore categorized as a Level 1 input. Fair Value Measurement Using: Carrying Value June 27, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Trading Securities $ $ $ — $ — Fair Value Measurement Using: Carrying Value December 27, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Trading Securities $ $ $ — $ — Comprehensive Income Comprehensive income includes net earnings, currency translation adjustments, certain derivative-related activity and changes in net actuarial gains/losses from a 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) consisted of the following at June 27, 2015 and December 27, 2014: Foreign Currency Translation Adjustments Unrealized Gain on Cash Flow Hedge Defined Benefit Pension Plan Accumulated Other Comprehensive Income Balance at December 27, 2014 $ ) $ $ ) $ ) Current-period comprehensive income (loss) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at June 27, 2015 $ ) $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes the revenue recognition requirements in Accounting Standards Codification ("ASC") 605, Revenue Recognition . The new revenue recognition standard requires entities to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 is effective for interim and annual reporting periods beginning after December 15, 2017 and is to be applied retrospectively. The Company is currently evaluating the effect that adopting this new accounting guidance will have on its consolidated results of operations and financial position. In July 2015, the FASB issued ASU 2015-11, "Simplifying the Measurement of Inventory." Under this ASU, inventory will be measured at the "lower of cost and net realizable value" and options that currently exist for "market value" will be eliminated. The ASU defines net realizable value as the "estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation." No other changes were made to the current guidance on inventory measurement. ASU 2015-11 is effective for interim and annual periods beginning after December 15, 2016. Early application is permitted and should be applied prospectively. Management is evaluating the provisions of this statement, including which period to adopt, and has not determined what impact the adoption of ASU 2015-11 will have on the Company's financial position or results of operations

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 27, 2015
ACQUISITIONS
ACQUISITIONS	(2) ACQUISITIONS On March 3, 2014, the Company purchased 90% of the outstanding shares of DS SM A/S, which was renamed Valmont SM. Valmont SM is a manufacturer of heavy complex steel structures for a diverse range of industries including wind energy, offshore oil and gas, and electricity transmission. Valmont SM's operations are reported in the Engineered Infrastructure Products Segment. Valmont SM's annual sales are approximately $190,000 and it operates two manufacturing locations in Denmark. The purchase price paid for the business at closing (net of $56 cash acquired) was $120,483, including the payoff of an intercompany note payable by Valmont SM to its prior affiliates. The purchase is subject to an earn-out clause that is contingent on meeting future operational metrics for which no liability has been established based on expectations. The acquisition, which was funded by cash held by the Company, was completed to participate in markets for wind energy, oil and gas exploration, power transmission and other related infrastructure projects and to increase the Company's geographic footprint in Europe. The Company also funded a portion of the acquisition with an intercompany note payable. The excess purchase price over the fair value of assets resulted in goodwill, which is not deductible for tax purposes. The following table summarizes the fair values of the assets acquired and liabilities assumed as of the date of acquisition, which was finalized in the fourth quarter of 2014. At March 3, 2014 Current assets $ Property, plant and equipment Intangible assets Goodwill ​ ​ ​ ​ ​ Total fair value of assets acquired $ ​ ​ ​ ​ ​ Current liabilities Deferred income taxes Intercompany note payable Long-term debt ​ ​ ​ ​ ​ Total fair value of liabilities assumed Non-controlling interests ​ ​ ​ ​ ​ Net assets acquired $ ​ ​ ​ ​ ​ Based on the fair value assessments, the Company allocated $30,340 of the purchase price to acquired intangible assets. The following table summarizes the major classes of Valmont SM's acquired intangible assets and the respective weighted average amortization periods: Amount Weighted Average Amortization Period (Years) Trade Names $ Indefinite Backlog Customer Relationships ​ ​ ​ ​ ​ ​ ​ ​ Total Intangible Assets $ ​ ​ ​ ​ ​ ​ ​ ​ On October 6, 2014, the Company acquired Shakespeare Composite Structures (Shakespeare) for $48,272 in cash, plus assumed liabilities. Shakespeare is a manufacturer of fiberglass reinforced composite structures and products with two manufacturing facilities in South Carolina. Shakespeare's annual sales are approximately $55,000 and its operations are included in the Engineered Infrastructure Products segment. The acquisition of Shakespeare was completed to expand our product offering of composite structure solutions. The preliminary fair value measurement disclosed below is subject to management reviews and completion of the fair value measurements of the assets acquired and liabilities assumed. The Company expects the fair value measurement process and purchase price allocation for Shakespeare to be completed in the third quarter of 2015. The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed as of the date of the Shakespeare acquisition (goodwill is not deductible for tax purposes): At October 6, 2014 Current assets $ Property, plant and equipment Intangible assets Goodwill ​ ​ ​ ​ ​ Total fair value of assets acquired $ ​ ​ ​ ​ ​ Current liabilities ​ ​ ​ ​ ​ Net assets acquired $ ​ ​ ​ ​ ​ Based on the preliminary fair value assessments, the Company allocated $13,500 of the purchase price to acquired intangible assets. The following table summarizes the major classes of Shakespeare acquired intangible assets and the respective weighted-average amortization periods: Amount Weighted Average Amortization Period (Years) Trade Names $ Indefinite Customer Relationships ​ ​ ​ ​ ​ ​ ​ ​ Total Intangible Assets $ ​ ​ ​ ​ ​ ​ ​ ​ On August 25, 2014, the Company acquired 51% of AgSense, LLC (AgSense) for $17 million in cash. AgSense operates in South Dakota and is the creator of global WagNet network which provides growers with a more complete view of their entire farming operation by tying irrigation decision making to field, crop and weather conditions. In the measurement of fair values of assets acquired and liabilities assumed, goodwill of $17,193 and $16,083 of customer relationships, trade name and other intangible assets were recorded. A portion of the goodwill is deductible for tax purposes. AgSense is included in the Irrigation Segment. The Company's Condensed Consolidated Statement of Earnings for the thirteen and twenty-six weeks ended June 27, 2015 included net sales of $44,271 and $86,195 and net earnings of $2,935 and $4,933 resulting from the Valmont SM, AgSense, and Shakespeare acquisitions. The pro forma effect of these acquisitions on the second quarter and first half of the 2014 Statement of Earnings was as follows: Thirteen Weeks Ended June 28, 2014 Twenty-six Weeks Ended June 28, 2014 Net sales $ $ Net earnings $ $ Earnings per share—diluted $ $

RESTRUCTURING ACTIVITIES

RESTRUCTURING ACTIVITIES	6 Months Ended
	Jun. 27, 2015
RESTRUCTURING ACTIVITIES
RESTRUCTURING ACTIVITIES	(3) RESTRUCTURING ACTIVITIES In April 2015, the Company's Board of Directors authorized a broad restructuring plan (the "Plan") of up to $60 million to respond to the market environment in certain businesses. We anticipate the Company will recognize the following pre-tax expenses in conjunction with the initial restructuring activities from the Plan announced in 2015: EIP Utility Coatings Irrigation Other/ Corporate TOTAL Severance $ $ $ $ $ $ Other cash restructuring expenses — — Asset impairments/net loss on disposals — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total cost of sales ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Severance — Other cash restructuring expenses Asset impairments/net loss on disposals — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total selling, general and administrative expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated total $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Certain of these initial restructuring actions are within the APAC Coatings reporting unit which has approximately $16 million of goodwill as of June 27, 2015. The Company expects these activities to improve the profitability of this reporting unit. Should operating income not improve within this reporting unit after these restructuring activities are implemented, we may have to write off all or a portion of our goodwill for this reporting unit during our annual impairment testing during the third quarter. Inclusive of this goodwill, the Company is currently evaluating additional potential restructuring activities estimated up to $25 million of asset impairments and $5 million of cash expenses. The following is a summary of the segments affected by these additional potential restructuring activities under current evaluation and the estimated pre-tax expense: EIP Coatings Other/ Corporate TOTAL Severance $ $ — $ $ Other cash restructuring expenses — Asset impairments/net loss on disposals — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total cost of sales — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Severance — Asset impairments/net loss on disposals ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total selling, general and administrative expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated total $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ During the first quarter of fiscal 2015, the Company's EIP segment recognized approximately $800 of pre-tax expense for severance and other cash restructuring expenses. During the second quarter of fiscal 2015, the Company recognized the following pre-tax restructuring expenses: EIP Utility Coatings Irrigation Other/ Corporate TOTAL Severance $ $ $ $ — $ $ Other cash restructuring expenses — — Asset impairments/net loss on disposals — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total cost of sales — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Severance — Other cash restructuring expenses — — — Asset impairments/net loss on disposals — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total selling, general and administrative expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated total $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities recorded for the restructuring Plan and changes therein for the first half of fiscal 2015 were as follows: Balance at December 27, 2014 Recognized Restructuring Expense Costs Paid or Otherwise Settled Balance at June 27, 2015 Severance $ — $ $ ) $ Other cash restructuring expenses — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total cost of sales $ — $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Jun. 27, 2015
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS	(4) GOODWILL AND INTANGIBLE ASSETS Amortized Intangible Assets The components of amortized intangible assets at June 27, 2015 and December 27, 2014 were as follows: June 27, 2015 Gross Carrying Amount Accumulated Amortization Weighted Average Life Customer Relationships $ $ 13 years Proprietary Software & Database 8 years Patents & Proprietary Technology 8 years Other 3 years ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 27, 2014 Gross Carrying Amount Accumulated Amortization Weighted Average Life Customer Relationships $ $ 13 years Proprietary Software & Database 8 years Patents & Proprietary Technology 8 years Other 3 years ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization expense for intangible assets for the thirteen and twenty-six weeks ended June 27, 2015 and June 28, 2014, respectively was as follows: Thirteen Weeks Ended Twenty-six Weeks Ended 2015 2014 2015 2014 $ $ $ $ Estimated annual amortization expense related to finite-lived intangible assets is as follows: Estimated Amortization Expense 2015 $ 2016 2017 2018 2019 The useful lives assigned to finite-lived intangible assets included consideration of factors such as the Company's past and expected experience related to customer retention rates, the remaining legal or contractual life of the underlying arrangement that resulted in the recognition of the intangible asset and the Company's expected use of the intangible asset. Non-amortized intangible assets Intangible assets with indefinite lives are not amortized. The carrying values of trade names at June 27, 2015 and December 27, 2014 were as follows: June 27, 2015 December 27, 2014 Year Acquired Webforge $ $ Valmont SM Newmark Ingal EPS/Ingal Civil Products Donhad Shakespeare Industrial Galvanizers Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ In its determination of these intangible assets as indefinite-lived, the Company considered such factors as its expected future use of the intangible asset, legal, regulatory, technological and competitive factors that may impact the useful life or value of the intangible asset and the expected costs to maintain the value of the intangible asset. The Company expects that these intangible assets will maintain their value indefinitely. Accordingly, these assets are not amortized. The Company's trade names were tested for impairment in the third quarter of 2014. The values of the trade names were determined using the relief-from-royalty method. Based on this evaluation, the Company determined that its trade names were not impaired. Goodwill The carrying amount of goodwill by segment as of June 27, 2015 and December 27, 2014 was as follows: Engineered Infrastructure Products Segment Utility Support Structures Segment Coatings Segment Irrigation Segment Other Total Balance at December 27, 2014 $ $ $ $ $ $ Impairment ) — — — — ) Foreign currency translation ) — ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at June 27, 2015 $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ During the second quarter of 2015, the Company implemented a plan to divest of a small business in its EIP segment. The goodwill allocated to that business was $1,737 and based on its current estimation of value, the goodwill was determined to be impaired and was recorded in Selling, General and Administrative Expenses in the Condensed Consolidated Statements of Earnings. The Company's annual impairment test of goodwill was last performed during the third quarter of 2014. As a result of that testing, the Company determined that its goodwill was not impaired, as the valuation of the reporting units exceeded their respective carrying values. The Company continues to monitor changes in the global economy that could impact future operating results of its reporting units. If such conditions arise, the Company will test a given reporting unit for impairment prior to the annual test

CASH FLOW SUPPLEMENTARY INFORMA

CASH FLOW SUPPLEMENTARY INFORMATION	6 Months Ended
	Jun. 27, 2015
CASH FLOW SUPPLEMENTARY INFORMATION
CASH FLOW SUPPLEMENTARY INFORMATION	(5) CASH FLOW SUPPLEMENTARY INFORMATION The Company considers all highly liquid temporary cash investments purchased with an original maturity of three months or less at the time of purchase to be cash equivalents. Cash payments for interest and income taxes (net of refunds) for the twenty-six weeks ended June 27, 2015 and June 28, 2014 were as follows: 2015 2014 Interest $ $ Income taxes On May 13, 2014, the Company announced a new capital allocation philosophy which increased the dividend by 50% and covered a share repurchase program of up to $500 million of the Company's outstanding common stock to be acquired from time to time over twelve months at prevailing market prices, through open market or privately-negotiated transactions. On February 24, 2015, the Board of Directors authorized an additional purchase of up to $250 million of the Company's outstanding common stock with no stated expiration date. As of June 27, 2015, the Company has acquired 3,700,970 shares for approximately $516.1 million under the share repurchase programs.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 27, 2015
EARNINGS PER SHARE
EARNINGS PER SHARE	(6) EARNINGS PER SHARE The following table provides a reconciliation between Basic and Diluted earnings per share (EPS): Basic EPS Dilutive Effect of Stock Options Diluted EPS Thirteen weeks ended June 27, 2015: Net earnings attributable to Valmont Industries, Inc. $ $ — $ Shares outstanding Per share amount $ $ — $ Thirteen weeks ended June 28, 2014: Net earnings attributable to Valmont Industries, Inc. $ $ — $ Shares outstanding Per share amount $ $ ) $ Twenty-six weeks ended June 27, 2015: Net earnings attributable to Valmont Industries, Inc. $ $ — $ Shares outstanding Per share amount $ $ ) $ Twenty-six weeks ended June 28, 2014: Net earnings attributable to Valmont Industries, Inc. $ $ — $ Shares outstanding Per share amount $ $ ) $ Earnings per share are computed independently for each of the quarters. Therefore, the sum of the quarterly earnings per share may not equal the total for the year primarily due to the share buyback program that began in the second quarter of 2014. At June 27, 2015, there were 452,459 outstanding stock options with exercise prices exceeding the market price of common stock that were excluded from the computation of diluted earnings per share.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	6 Months Ended
	Jun. 27, 2015
BUSINESS SEGMENTS
BUSINESS SEGMENTS	(7) BUSINESS SEGMENTS The Company has four reportable segments based on its management structure. Each segment is global in nature with a manager responsible for segment operational performance and the allocation of capital within the segment. Net corporate expense is net of certain service-related expenses that are allocated to business units generally on the basis of employee headcounts and sales dollars. Reportable segments are as follows: ENGINEERED INFRASTRUCTURE PRODUCTS: This segment consists of the manufacture of engineered metal structures and components for the global lighting and traffic, wireless communication, wind energy, offshore oil and gas, roadway safety and access systems applications; UTILITY SUPPORT STRUCTURES: This segment consists of the manufacture of engineered steel and concrete structures for the global utility industry; COATINGS: This segment consists of galvanizing, anodizing and powder coating services on a global basis; and IRRIGATION: This segment consists of the manufacture of agricultural irrigation equipment and related parts and services for the global agricultural industry. In addition to these four reportable segments, the Company has other businesses and activities that individually are not more than 10% of consolidated sales. These include the manufacture of forged steel grinding media for the mining industry, tubular products for industrial customers, and the distribution of industrial fasteners and are reported in the "Other" category. The accounting policies of the reportable segments are the same as those described in Note 1. The Company evaluates the performance of its business segments based upon operating income and invested capital. The Company does not allocate interest expense, non-operating income and deductions, or income taxes to its business segments. Summary by Business Thirteen Weeks Ended Twenty-six Weeks Ended June 27, 2015 June 28, 2014 June 27, 2015 June 28, 2014 SALES: Engineered Infrastructure Products segment: Lighting, Traffic, and Roadway Products $ $ $ $ Communication Products Offshore Structures Access Systems ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Engineered Infrastructure Products segment Utility Support Structures segment: Steel Concrete ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Utility Support Structures segment Coatings segment Irrigation segment Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total INTERSEGMENT SALES: Engineered Infrastructure Products segment Utility Support Structures segment Coatings segment Irrigation segment Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total NET SALES: Engineered Infrastructure Products segment Utility Support Structures segment Coatings segment Irrigation segment Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ OPERATING INCOME: Engineered Infrastructure Products segment $ $ $ $ Utility Support Structures segment Coatings segment Irrigation segment Other Corporate ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

GUARANTOR_NON-GUARANTOR FINANCI

GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION	6 Months Ended
	Jun. 27, 2015
GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION
GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION	(8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION The Company has three tranches of senior unsecured notes. All of the senior notes are guaranteed, jointly, severally, fully and unconditionally by certain of the Company's current and future direct and indirect domestic and foreign subsidiaries (collectively the "Guarantors"), excluding its other current domestic and foreign subsidiaries which do not guarantee the debt (collectively referred to as the "Non-Guarantors"). All Guarantors are 100% owned by the parent company. In the fourth quarter of 2014, a subsidiary of the Company was removed as a guarantor of our revolving credit facility, and consequently was removed as a guarantor of the notes. All prior year consolidated financial information has been recast to reflect the current guarantor structure. Consolidated financial information for the Company ("Parent"), the Guarantor subsidiaries and the Non-Guarantor subsidiaries is as follows: CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS For the Thirteen weeks ended June 27, 2015 Parent Guarantors Non- Guarantors Eliminations Total Net sales $ $ $ $ ) $ Cost of sales ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit ) Selling, general and administrative expenses — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other income (expense): Interest expense ) — ) — ) Interest income — Other ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax expense (benefit): Current ) Deferred ) ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings before equity in earnings of nonconsolidated subsidiaries ) Equity in earnings of nonconsolidated subsidiaries — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings ) Less: Earnings attributable to noncontrolling interests — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings attributable to Valmont Industries, Inc $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS For the Twenty-six weeks ended June 27, 2015 Parent Guarantors Non- Guarantors Eliminations Total Net sales $ $ $ $ ) $ Cost of sales ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit ) Selling, general and administrative expenses — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other income (expense): Interest expense ) — ) — ) Interest income — Other ) — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax expense (benefit): Current ) Deferred ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings before equity in earnings of nonconsolidated subsidiaries ) Equity in earnings of nonconsolidated subsidiaries — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings ) Less: Earnings attributable to noncontrolling interests — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings attributable to Valmont Industries, Inc $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS For the Thirteen weeks ended June 28, 2014 Parent Guarantors Non- Guarantors Eliminations Total Net sales $ $ $ $ ) $ Cost of sales ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit Selling, general and administrative expenses — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other income (expense): Interest expense ) — ) — ) Interest income — Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax expense (benefit): Current Deferred ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings before equity in earnings of nonconsolidated subsidiaries Equity in earnings of nonconsolidated subsidiaries — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings ) Less: Earnings attributable to noncontrolling interests — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings attributable to Valmont Industries, Inc $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS For the Twenty-six weeks ended June 28, 2014 Parent Guarantors Non- Guarantors Eliminations Total Net sales $ $ $ $ ) $ Cost of sales ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit Selling, general and administrative expenses — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other income (expense): Interest expense ) — ) — ) Interest income — Other ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ) ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax expense (benefit): Current Deferred ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings before equity in earnings of nonconsolidated subsidiaries Equity in earnings of nonconsolidated subsidiaries — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings ) Less: Earnings attributable to noncontrolling interests — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings attributable to Valmont Industries, Inc $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Thirteen weeks ended June 27, 2015 Parent Guarantors Non- Guarantors Eliminations Total Net earnings $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss), net of tax: Foreign currency translation adjustments: Unrealized gains (losses) arising during the period — — Unrealized loss on cash flow hedge: Amortization cost included in interest expense — — — Gain on cash flow hedges ) — — Equity in other comprehensive income — — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income ) Comprehensive income attributable to noncontrolling interests — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income attributable to Valmont Industries, Inc. $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Twenty-six weeks ended June 27, 2015 Parent Guarantors Non- Guarantors Eliminations Total Net earnings $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss), net of tax: Foreign currency translation adjustments: Unrealized gains (losses) arising during the period — ) ) — ) Unrealized loss on cash flow hedge: Amortization cost included in interest expense — — — Gain on cash flow hedges ) — — Equity in other comprehensive income ) — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss) ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income ) ) Comprehensive income attributable to noncontrolling interests — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income attributable to Valmont Industries, Inc. $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Thirteen weeks ended June 28, 2014 Parent Guarantors Non- Guarantors Eliminations Total Net earnings $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss), net of tax: Foreign currency translation adjustments: Unrealized gains (losses) arising during the period — ) — Unrealized loss on cash flow hedge: Amortization cost included in interest expense — ) — ) Actuarial gain (loss) in defined benefit pension plan liability — — ) — ) Equity in other comprehensive income — — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income ) Comprehensive income attributable to noncontrolling interests — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income attributable to Valmont Industries, Inc. $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Twenty-six weeks ended June 28, 2014 Parent Guarantors Non- Guarantors Eliminations Total Net earnings $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss), net of tax: Foreign currency translation adjustments: Unrealized gains (losses) arising during the period — — Unrealized loss on cash flow hedge: Amortization cost included in interest expense — ) — Actuarial gain (loss) in defined benefit pension plan liability — — ) — ) Equity in other comprehensive income — — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income ) Comprehensive income attributable to noncontrolling interests — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income attributable to Valmont Industries, Inc. $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CONDENSED CONSOLIDATED BALANCE SHEETS June 27, 2015 Parent Guarantors Non-Guarantors Eliminations Total ASSETS Current assets: Cash and cash equivalents $ $ $ $ — $ Receivables, net — Inventories ) Prepaid expenses — Refundable and deferred income taxes — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current assets ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, at cost — Less accumulated depreciation and amortization — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net property, plant and equipment — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill — Other intangible assets — Investment in subsidiaries and intercompany accounts ) — Other assets — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current installments of long-term debt $ $ — $ $ — $ Notes payable to banks — — — Accounts payable — Accrued employee compensation and benefits — Accrued expenses — Dividends payable — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current liabilities — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred income taxes — Long-term debt, excluding current installments — — Defined benefit pension liability — — — Deferred compensation — — Other noncurrent liabilities — — Shareholders' equity: Common stock of $1 par value ) Additional paid-in capital — ) — Retained earnings ) Accumulated other comprehensive income (loss) ) ) ) ) Treasury stock ) — — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Valmont Industries, Inc. shareholders' equity ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Noncontrolling interest in consolidated subsidiaries — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total shareholders' equity ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and shareholders' equity $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CONDENSED CONSOLIDATED BALANCE SHEETS December 27, 2014 Parent Guarantors Non-Guarantors Eliminations Total ASSETS Current assets: Cash and cash equivalents $ $ $ $ — $ Receivables, net — Inventories ) Prepaid expenses — Refundable and deferred income taxes — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current assets ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, at cost — Less accumulated depreciation and amortization — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net property, plant and equipment — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill — Other intangible assets — Investment in subsidiaries and intercompany accounts ) — Other assets — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current installments of long-term debt $ $ — $ $ — $ Notes payable to banks — — — Accounts payable — Accrued employee compensation and benefits — Accrued expenses — Dividends payable — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current liabilities — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred income taxes — Long-term debt, excluding current installments — — Defined benefit pension liability — — — Deferred compensation — — Other noncurrent liabilities — — Shareholders' equity: Common stock of $1 par value ) Additional paid-in capital — ) — Retained earnings ) Accumulated other comprehensive income ) ) ) ) Treasury stock ) — — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Valmont Industries, Inc. shareholders' equity ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Noncontrolling interest in consolidated subsidiaries — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total shareholders' equity ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and shareholders' equity $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Twenty-six Weeks Ended June 27, 2015 Parent Guarantors Non-Guarantors Eliminations Total Cash flows from operating activities: Net earnings $ $ $ $ ) $ Adjustments to reconcile net earnings to net cash flows from operations: Depreciation and amortization — Noncash loss on trading securities — — — Impairment of assets — Stock-based compensation — ) — Defined benefit pension plan expense — — ) — ) Contribution to defined benefit pension plan — — ) — ) Gain on sale of property, plant and equipment ) — Equity in earnings in nonconsolidated subsidiaries ) ) — — Deferred income taxes ) ) — ) Changes in assets and liabilities (net of acquisitions): Receivables — Inventories ) — ) Prepaid expenses ) ) — ) Accounts payable ) — ) Accrued expenses ) ) — ) Other noncurrent liabilities ) — — Income taxes payable (refundable) ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash flows from operating activities ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from investing activities: Purchase of property, plant and equipment ) ) ) — ) Proceeds from sale of assets — Other, net ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash flows from investing activities ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from financing activities: Net borrowings under short-term agreements — — ) — ) Proceeds from long-term borrowings — — — Principal payments on long-term borrowings ) — ) — ) Dividends paid ) — — — ) Dividends to noncontrolling interest — — ) — ) Proceeds from exercises under stock plans — — — Excess tax benefits from stock option exercises — — — Purchase of treasury shares ) — — — ) Purchase of common treasury shares—stock plan exercises ) — — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash flows from financing activities ) — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Effect of exchange rate changes on cash and cash equivalents — ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net change in cash and cash equivalents ) ) — ) Cash and cash equivalents—beginning of year — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents—end of period $ $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Twenty-six Weeks Ended June 28, 2014 Parent Guarantors Non-Guarantors Eliminations Total Cash flows from operating activities: Net earnings $ $ $ $ ) $ Adjustments to reconcile net earnings to net cash flows from operations: Depreciation and amortization — Noncash loss on trading securities — — — Stock-based compensation — — — Defined benefit pension plan expense — — — Contribution to defined benefit pension plan — — ) — ) Gain on sale of property, plant and equipment ) ) — ) Equity in earnings in nonconsolidated subsidiaries ) ) — Deferred income taxes ) — Changes in assets and liabilities (net of acquisitions): Receivables ) ) — Inventories ) — Prepaid expenses ) ) — ) Accounts payable ) ) — ) Accrued expenses ) ) — ) Other noncurrent liabilities — ) — Income taxes payable (refundable) ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash flows from operating activities ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from investing activities: Purchase of property, plant and equipment ) ) ) — ) Proceeds from sale of assets — Acquisitions, net of cash acquired — — ) — ) Other, net ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash flows from investing activities ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from financing activities: Net borrowings under short-term agreements — — ) — ) Principal payments on long-term borrowings ) — ) — ) Dividends paid ) — — — ) Intercompany dividends — ) — — Dividends to noncontrolling interest — — ) — ) Intercompany capital contribution ) — — — Proceeds from exercises under stock plans — — — Excess tax benefits from stock option exercises — — — Purchase of treasury shares ) — — — ) Purchase of common treasury shares—stock plan exercises ) — — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash flows from financing activities ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Effect of exchange rate changes on cash and cash equivalents — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net change in cash and cash equivalents ) ) ) — ) Cash and cash equivalents—beginning of year — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents—end of period $ $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

SUMMARY OF SIGNIFICANT ACCOUN17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 27, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation	Condensed Consolidated Financial Statements The Condensed Consolidated Balance Sheet as of June 27, 2015, the Condensed Consolidated Statements of Earnings and Comprehensive Income for the thirteen and twenty-six weeks ended June 27, 2015 and June 28, 2014, and the Condensed Consolidated Statements of Cash Flows and Shareholders' Equity for the twenty-six week period then ended have been prepared by the Company, without audit. In the opinion of management, all necessary adjustments (which include normal recurring adjustments) have been made to present fairly the financial statements as of June 27, 2015 and for all periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These Condensed Consolidated Financial Statements should be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended December 27, 2014. The accounting policies and methods of computation followed in these interim financial statements are the same as those followed in the financial statements for the year ended December 27, 2014. The results of operations for the period ended June 27, 2015 are not necessarily indicative of the operating results for the full year.
Inventories	Inventories Approximately 36% and 44% of inventory is valued at the lower of cost, determined on the last-in, first-out (LIFO) method, or market as of June 27, 2015 and December 27, 2014, respectively. All other inventory is valued at the lower of cost, determined on the first-in, first-out (FIFO) method or market. Finished goods and manufactured goods inventories include the costs of acquired raw materials and related factory labor and overhead charges required to convert raw materials to manufactured and finished goods. The excess of replacement cost of inventories over the LIFO value is approximately $39,093 and $47,178 at June 27, 2015 and December 27, 2014, respectively. Inventories consisted of the following: June 27, 2015 December 27, 2014 Raw materials and purchased parts $ $ Work-in-process Finished goods and manufactured goods ​ ​ ​ ​ ​ ​ ​ ​ Subtotal Less: LIFO reserve ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Income Taxes	Income Taxes Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries for the thirteen and twenty-six weeks ended June 27, 2015 and June 28, 2014, were as follows: Thirteen Weeks Ended Twenty-six Weeks Ended 2015 2014 2015 2014 United States $ $ $ $ Foreign ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Pension Benefits	Pension Benefits The Company incurs expenses in connection with the Delta Pension Plan ("DPP"). The DPP was acquired as part of the Delta plc acquisition in fiscal 2010 and has no members that are active employees. In order to measure expense and the related benefit obligation, various assumptions are made including discount rates used to value the obligation, expected return on plan assets used to fund these expenses and estimated future inflation rates. These assumptions are based on historical experience as well as current facts and circumstances. An actuarial analysis is used to measure the expense and liability associated with pension benefits. The components of the net periodic pension (benefit) expense for the thirteen and twenty-six weeks ended June 27, 2015 and June 28, 2014 were as follows: Thirteen Weeks Ended Twenty-six Weeks Ended 2015 2014 2015 2014 Net periodic (benefit) expense: Interest cost $ $ $ $ Expected return on plan assets ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net periodic (benefit) expense $ ) $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Stock Plans	Stock Plans The Company maintains stock-based compensation plans approved by the shareholders, which provide that the Human Resource Committee of the Board of Directors may grant incentive stock options, nonqualified stock options, stock appreciation rights, non-vested stock awards and bonuses of common stock. At June 27, 2015, 1,176,222 shares of common stock remained available for issuance under the plans. Shares and options issued and available are subject to changes in capitalization. Under the plans, the exercise price of each option equals the closing market price at the date of the grant. Options vest beginning on the first anniversary of the grant in equal amounts over three to six years or on the fifth anniversary of the grant. Expiration of grants is from six to ten years from the date of grant. The Company's compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options for the thirteen and twenty-six weeks ended June 27, 2015 and June 28, 2014, respectively, were as follows: Thirteen Weeks Ended Twenty-six Weeks Ended 2015 2014 2015 2014 Compensation expense $ $ $ $ Income tax benefits
Equity Method Investments	Equity Method Investments The Company has equity method investments in non-consolidated subsidiaries, which are recorded within "Other assets" on the Condensed Consolidated Balance Sheet.
Fair Value	Fair Value The Company applies the provisions of Accounting Standards Codification 820, Fair Value Measurements ("ASC 820") which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The provisions of ASC 820 apply to other accounting pronouncements that require or permit fair value measurements. As defined in ASC 820, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Financial assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. The categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Following is a description of the valuation methodologies used for assets and liabilities measured at fair value. Trading Securities: The assets and liabilities recorded for the investments held in the Valmont Deferred Compensation Plan of $39,789 ($36,439 at December 27, 2014) represent mutual funds, invested in debt and equity securities, classified as trading securities in accordance with Accounting Standards Codification 320, Accounting for Certain Investments in Debt and Equity Securities , considering the employee's ability to change investment allocation of their deferred compensation at any time. The Company's ownership of shares in Delta EMD Pty. Ltd. (JSE:DTA) is also classified as trading securities. During first quarter of 2015, the Company received a special dividend of $5,010 from Delta EMD Pty. Ltd and the market price of the shares were proportionately decreased accordingly. The shares are valued at $4,966 and $9,034 as of June 27, 2015 and December 27, 2014, respectively, which is the estimated fair value. Quoted market prices are available for these securities in an active market and therefore categorized as a Level 1 input. Fair Value Measurement Using: Carrying Value June 27, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Trading Securities $ $ $ — $ — Fair Value Measurement Using: Carrying Value December 27, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Trading Securities $ $ $ — $ —
Comprehensive Income	Comprehensive Income Comprehensive income includes net earnings, currency translation adjustments, certain derivative-related activity and changes in net actuarial gains/losses from a 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) consisted of the following at June 27, 2015 and December 27, 2014: Foreign Currency Translation Adjustments Unrealized Gain on Cash Flow Hedge Defined Benefit Pension Plan Accumulated Other Comprehensive Income Balance at December 27, 2014 $ ) $ $ ) $ ) Current-period comprehensive income (loss) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at June 27, 2015 $ ) $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes the revenue recognition requirements in Accounting Standards Codification ("ASC") 605, Revenue Recognition . The new revenue recognition standard requires entities to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 is effective for interim and annual reporting periods beginning after December 15, 2017 and is to be applied retrospectively. The Company is currently evaluating the effect that adopting this new accounting guidance will have on its consolidated results of operations and financial position. In July 2015, the FASB issued ASU 2015-11, "Simplifying the Measurement of Inventory." Under this ASU, inventory will be measured at the "lower of cost and net realizable value" and options that currently exist for "market value" will be eliminated. The ASU defines net realizable value as the "estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation." No other changes were made to the current guidance on inventory measurement. ASU 2015-11 is effective for interim and annual periods beginning after December 15, 2016. Early application is permitted and should be applied prospectively. Management is evaluating the provisions of this statement, including which period to adopt, and has not determined what impact the adoption of ASU 2015-11 will have on the Company's financial position or results of operations.

SUMMARY OF SIGNIFICANT ACCOUN18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 27, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Components of inventories	June 27, 2015 December 27, 2014 Raw materials and purchased parts $ $ Work-in-process Finished goods and manufactured goods ​ ​ ​ ​ ​ ​ ​ ​ Subtotal Less: LIFO reserve ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries	Thirteen Weeks Ended Twenty-six Weeks Ended 2015 2014 2015 2014 United States $ $ $ $ Foreign ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of components of the net periodic pension expense	Thirteen Weeks Ended Twenty-six Weeks Ended 2015 2014 2015 2014 Net periodic (benefit) expense: Interest cost $ $ $ $ Expected return on plan assets ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net periodic (benefit) expense $ ) $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options	Thirteen Weeks Ended Twenty-six Weeks Ended 2015 2014 2015 2014 Compensation expense $ $ $ $ Income tax benefits
Valuation methodologies used for assets and liabilities measured at fair value	Fair Value Measurement Using: Carrying Value June 27, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Trading Securities $ $ $ — $ — Fair Value Measurement Using: Carrying Value December 27, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Trading Securities $ $ $ — $ —
Components of accumulated other comprehensive income (loss)	Foreign Currency Translation Adjustments Unrealized Gain on Cash Flow Hedge Defined Benefit Pension Plan Accumulated Other Comprehensive Income Balance at December 27, 2014 $ ) $ $ ) $ ) Current-period comprehensive income (loss) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at June 27, 2015 $ ) $ $ ) $ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 27, 2015
Pro forma results of operations	Thirteen Weeks Ended June 28, 2014 Twenty-six Weeks Ended June 28, 2014 Net sales $ $ Net earnings $ $ Earnings per share—diluted $ $
Valmont SM
Summary of preliminary fair values of the assets acquired and liabilities assumed	At March 3, 2014 Current assets $ Property, plant and equipment Intangible assets Goodwill ​ ​ ​ ​ ​ Total fair value of assets acquired $ ​ ​ ​ ​ ​ Current liabilities Deferred income taxes Intercompany note payable Long-term debt ​ ​ ​ ​ ​ Total fair value of liabilities assumed Non-controlling interests ​ ​ ​ ​ ​ Net assets acquired $ ​ ​ ​ ​ ​
Summary of the major classes of acquired intangible assets and the respective weighted average amortization periods	Amount Weighted Average Amortization Period (Years) Trade Names $ Indefinite Backlog Customer Relationships ​ ​ ​ ​ ​ ​ ​ ​ Total Intangible Assets $ ​ ​ ​ ​ ​ ​ ​ ​
Shakespeare
Summary of preliminary fair values of the assets acquired and liabilities assumed	At October 6, 2014 Current assets $ Property, plant and equipment Intangible assets Goodwill ​ ​ ​ ​ ​ Total fair value of assets acquired $ ​ ​ ​ ​ ​ Current liabilities ​ ​ ​ ​ ​ Net assets acquired $ ​ ​ ​ ​ ​
Summary of the major classes of acquired intangible assets and the respective weighted average amortization periods	Amount Weighted Average Amortization Period (Years) Trade Names $ Indefinite Customer Relationships ​ ​ ​ ​ ​ ​ ​ ​ Total Intangible Assets $ ​ ​ ​ ​ ​ ​ ​ ​

RESTRUCTURING ACTIVITIES (Table

RESTRUCTURING ACTIVITIES (Tables)	6 Months Ended
	Jun. 27, 2015
Schedule of pre-tax restructuring expenses	During the second quarter of fiscal 2015, the Company recognized the following pre-tax restructuring expenses: EIP Utility Coatings Irrigation Other/ Corporate TOTAL Severance $ $ $ $ — $ $ Other cash restructuring expenses — — Asset impairments/net loss on disposals — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total cost of sales — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Severance — Other cash restructuring expenses — — — Asset impairments/net loss on disposals — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total selling, general and administrative expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated total $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of liabilities recorded for the restructuring plan and changes	Liabilities recorded for the restructuring Plan and changes therein for the first half of fiscal 2015 were as follows: Balance at December 27, 2014 Recognized Restructuring Expense Costs Paid or Otherwise Settled Balance at June 27, 2015 Severance $ — $ $ ) $ Other cash restructuring expenses — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total cost of sales $ — $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Broad Restructuring Plan
Schedule of Restructuring Activities	EIP Utility Coatings Irrigation Other/ Corporate TOTAL Severance $ $ $ $ $ $ Other cash restructuring expenses — — Asset impairments/net loss on disposals — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total cost of sales ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Severance — Other cash restructuring expenses Asset impairments/net loss on disposals — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total selling, general and administrative expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated total $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Additional Potential Restructuring Activities
Schedule of Restructuring Activities	EIP Coatings Other/ Corporate TOTAL Severance $ $ — $ $ Other cash restructuring expenses — Asset impairments/net loss on disposals — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total cost of sales — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Severance — Asset impairments/net loss on disposals ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total selling, general and administrative expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated total $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 27, 2015
GOODWILL AND INTANGIBLE ASSETS
Components of amortized intangible assets	June 27, 2015 Gross Carrying Amount Accumulated Amortization Weighted Average Life Customer Relationships $ $ 13 years Proprietary Software & Database 8 years Patents & Proprietary Technology 8 years Other 3 years ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 27, 2014 Gross Carrying Amount Accumulated Amortization Weighted Average Life Customer Relationships $ $ 13 years Proprietary Software & Database 8 years Patents & Proprietary Technology 8 years Other 3 years ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Amortization expense for intangible assets	Thirteen Weeks Ended Twenty-six Weeks Ended 2015 2014 2015 2014 $ $ $ $
Schedule of future estimated amortization expense	Estimated Amortization Expense 2015 $ 2016 2017 2018 2019
Non-amortized intangible assets	June 27, 2015 December 27, 2014 Year Acquired Webforge $ $ Valmont SM Newmark Ingal EPS/Ingal Civil Products Donhad Shakespeare Industrial Galvanizers Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Carrying amount of goodwill	Engineered Infrastructure Products Segment Utility Support Structures Segment Coatings Segment Irrigation Segment Other Total Balance at December 27, 2014 $ $ $ $ $ $ Impairment ) — — — — ) Foreign currency translation ) — ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at June 27, 2015 $ $ $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

CASH FLOW SUPPLEMENTARY INFOR22

CASH FLOW SUPPLEMENTARY INFORMATION (Tables)	6 Months Ended
	Jun. 27, 2015
CASH FLOW SUPPLEMENTARY INFORMATION
Cash payments for interest and income taxes (net of refunds)	2015 2014 Interest $ $ Income taxes

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 27, 2015
EARNINGS PER SHARE
Reconciliation of basic and diluted earnings per share (EPS)	Basic EPS Dilutive Effect of Stock Options Diluted EPS Thirteen weeks ended June 27, 2015: Net earnings attributable to Valmont Industries, Inc. $ $ — $ Shares outstanding Per share amount $ $ — $ Thirteen weeks ended June 28, 2014: Net earnings attributable to Valmont Industries, Inc. $ $ — $ Shares outstanding Per share amount $ $ ) $ Twenty-six weeks ended June 27, 2015: Net earnings attributable to Valmont Industries, Inc. $ $ — $ Shares outstanding Per share amount $ $ ) $ Twenty-six weeks ended June 28, 2014: Net earnings attributable to Valmont Industries, Inc. $ $ — $ Shares outstanding Per share amount $ $ ) $

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	6 Months Ended
	Jun. 27, 2015
BUSINESS SEGMENTS
Segment reporting information of sales and operating income	Thirteen Weeks Ended Twenty-six Weeks Ended June 27, 2015 June 28, 2014 June 27, 2015 June 28, 2014 SALES: Engineered Infrastructure Products segment: Lighting, Traffic, and Roadway Products $ $ $ $ Communication Products Offshore Structures Access Systems ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Engineered Infrastructure Products segment Utility Support Structures segment: Steel Concrete ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Utility Support Structures segment Coatings segment Irrigation segment Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total INTERSEGMENT SALES: Engineered Infrastructure Products segment Utility Support Structures segment Coatings segment Irrigation segment Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total NET SALES: Engineered Infrastructure Products segment Utility Support Structures segment Coatings segment Irrigation segment Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ OPERATING INCOME: Engineered Infrastructure Products segment $ $ $ $ Utility Support Structures segment Coatings segment Irrigation segment Other Corporate ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

GUARANTOR_NON-GUARANTOR FINAN25

GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Tables)	6 Months Ended
	Jun. 27, 2015
GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION
Condensed Consolidated Statements of Earnings	Parent Guarantors Non- Guarantors Eliminations Total Net sales $ $ $ $ ) $ Cost of sales ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit ) Selling, general and administrative expenses — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other income (expense): Interest expense ) — ) — ) Interest income — Other ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax expense (benefit): Current ) Deferred ) ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings before equity in earnings of nonconsolidated subsidiaries ) Equity in earnings of nonconsolidated subsidiaries — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings ) Less: Earnings attributable to noncontrolling interests — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings attributable to Valmont Industries, Inc $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent Guarantors Non- Guarantors Eliminations Total Net sales $ $ $ $ ) $ Cost of sales ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit ) Selling, general and administrative expenses — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other income (expense): Interest expense ) — ) — ) Interest income — Other ) — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax expense (benefit): Current ) Deferred ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings before equity in earnings of nonconsolidated subsidiaries ) Equity in earnings of nonconsolidated subsidiaries — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings ) Less: Earnings attributable to noncontrolling interests — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings attributable to Valmont Industries, Inc $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent Guarantors Non- Guarantors Eliminations Total Net sales $ $ $ $ ) $ Cost of sales ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit Selling, general and administrative expenses — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other income (expense): Interest expense ) — ) — ) Interest income — Other — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax expense (benefit): Current Deferred ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings before equity in earnings of nonconsolidated subsidiaries Equity in earnings of nonconsolidated subsidiaries — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings ) Less: Earnings attributable to noncontrolling interests — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings attributable to Valmont Industries, Inc $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent Guarantors Non- Guarantors Eliminations Total Net sales $ $ $ $ ) $ Cost of sales ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross profit Selling, general and administrative expenses — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other income (expense): Interest expense ) — ) — ) Interest income — Other ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ) ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax expense (benefit): Current Deferred ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings before equity in earnings of nonconsolidated subsidiaries Equity in earnings of nonconsolidated subsidiaries — ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings ) Less: Earnings attributable to noncontrolling interests — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings attributable to Valmont Industries, Inc $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Condensed Consolidated Comprehensive Income	Parent Guarantors Non- Guarantors Eliminations Total Net earnings $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss), net of tax: Foreign currency translation adjustments: Unrealized gains (losses) arising during the period — — Unrealized loss on cash flow hedge: Amortization cost included in interest expense — — — Gain on cash flow hedges ) — — Equity in other comprehensive income — — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income ) Comprehensive income attributable to noncontrolling interests — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income attributable to Valmont Industries, Inc. $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent Guarantors Non- Guarantors Eliminations Total Net earnings $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss), net of tax: Foreign currency translation adjustments: Unrealized gains (losses) arising during the period — ) ) — ) Unrealized loss on cash flow hedge: Amortization cost included in interest expense — — — Gain on cash flow hedges ) — — Equity in other comprehensive income ) — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss) ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income ) ) Comprehensive income attributable to noncontrolling interests — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income attributable to Valmont Industries, Inc. $ $ $ ) $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent Guarantors Non- Guarantors Eliminations Total Net earnings $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss), net of tax: Foreign currency translation adjustments: Unrealized gains (losses) arising during the period — ) — Unrealized loss on cash flow hedge: Amortization cost included in interest expense — ) — ) Actuarial gain (loss) in defined benefit pension plan liability — — ) — ) Equity in other comprehensive income — — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income ) Comprehensive income attributable to noncontrolling interests — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income attributable to Valmont Industries, Inc. $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent Guarantors Non- Guarantors Eliminations Total Net earnings $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss), net of tax: Foreign currency translation adjustments: Unrealized gains (losses) arising during the period — — Unrealized loss on cash flow hedge: Amortization cost included in interest expense — ) — Actuarial gain (loss) in defined benefit pension plan liability — — ) — ) Equity in other comprehensive income — — ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income (loss) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income ) Comprehensive income attributable to noncontrolling interests — — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Comprehensive income attributable to Valmont Industries, Inc. $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Condensed Consolidated Balance Sheets	Parent Guarantors Non-Guarantors Eliminations Total ASSETS Current assets: Cash and cash equivalents $ $ $ $ — $ Receivables, net — Inventories ) Prepaid expenses — Refundable and deferred income taxes — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current assets ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, at cost — Less accumulated depreciation and amortization — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net property, plant and equipment — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill — Other intangible assets — Investment in subsidiaries and intercompany accounts ) — Other assets — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current installments of long-term debt $ $ — $ $ — $ Notes payable to banks — — — Accounts payable — Accrued employee compensation and benefits — Accrued expenses — Dividends payable — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current liabilities — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred income taxes — Long-term debt, excluding current installments — — Defined benefit pension liability — — — Deferred compensation — — Other noncurrent liabilities — — Shareholders' equity: Common stock of $1 par value ) Additional paid-in capital — ) — Retained earnings ) Accumulated other comprehensive income (loss) ) ) ) ) Treasury stock ) — — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Valmont Industries, Inc. shareholders' equity ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Noncontrolling interest in consolidated subsidiaries — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total shareholders' equity ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and shareholders' equity $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent Guarantors Non-Guarantors Eliminations Total ASSETS Current assets: Cash and cash equivalents $ $ $ $ — $ Receivables, net — Inventories ) Prepaid expenses — Refundable and deferred income taxes — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current assets ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, at cost — Less accumulated depreciation and amortization — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net property, plant and equipment — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill — Other intangible assets — Investment in subsidiaries and intercompany accounts ) — Other assets — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current installments of long-term debt $ $ — $ $ — $ Notes payable to banks — — — Accounts payable — Accrued employee compensation and benefits — Accrued expenses — Dividends payable — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total current liabilities — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred income taxes — Long-term debt, excluding current installments — — Defined benefit pension liability — — — Deferred compensation — — Other noncurrent liabilities — — Shareholders' equity: Common stock of $1 par value ) Additional paid-in capital — ) — Retained earnings ) Accumulated other comprehensive income ) ) ) ) Treasury stock ) — — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Valmont Industries, Inc. shareholders' equity ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Noncontrolling interest in consolidated subsidiaries — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total shareholders' equity ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total liabilities and shareholders' equity $ $ $ $ ) $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Condensed Consolidated Statements of Cash Flows	Parent Guarantors Non-Guarantors Eliminations Total Cash flows from operating activities: Net earnings $ $ $ $ ) $ Adjustments to reconcile net earnings to net cash flows from operations: Depreciation and amortization — Noncash loss on trading securities — — — Impairment of assets — Stock-based compensation — ) — Defined benefit pension plan expense — — ) — ) Contribution to defined benefit pension plan — — ) — ) Gain on sale of property, plant and equipment ) — Equity in earnings in nonconsolidated subsidiaries ) ) — — Deferred income taxes ) ) — ) Changes in assets and liabilities (net of acquisitions): Receivables — Inventories ) — ) Prepaid expenses ) ) — ) Accounts payable ) — ) Accrued expenses ) ) — ) Other noncurrent liabilities ) — — Income taxes payable (refundable) ) — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash flows from operating activities ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from investing activities: Purchase of property, plant and equipment ) ) ) — ) Proceeds from sale of assets — Other, net ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash flows from investing activities ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from financing activities: Net borrowings under short-term agreements — — ) — ) Proceeds from long-term borrowings — — — Principal payments on long-term borrowings ) — ) — ) Dividends paid ) — — — ) Dividends to noncontrolling interest — — ) — ) Proceeds from exercises under stock plans — — — Excess tax benefits from stock option exercises — — — Purchase of treasury shares ) — — — ) Purchase of common treasury shares—stock plan exercises ) — — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash flows from financing activities ) — ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Effect of exchange rate changes on cash and cash equivalents — ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net change in cash and cash equivalents ) ) — ) Cash and cash equivalents—beginning of year — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents—end of period $ $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Parent Guarantors Non-Guarantors Eliminations Total Cash flows from operating activities: Net earnings $ $ $ $ ) $ Adjustments to reconcile net earnings to net cash flows from operations: Depreciation and amortization — Noncash loss on trading securities — — — Stock-based compensation — — — Defined benefit pension plan expense — — — Contribution to defined benefit pension plan — — ) — ) Gain on sale of property, plant and equipment ) ) — ) Equity in earnings in nonconsolidated subsidiaries ) ) — Deferred income taxes ) — Changes in assets and liabilities (net of acquisitions): Receivables ) ) — Inventories ) — Prepaid expenses ) ) — ) Accounts payable ) ) — ) Accrued expenses ) ) — ) Other noncurrent liabilities — ) — Income taxes payable (refundable) ) ) — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash flows from operating activities ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from investing activities: Purchase of property, plant and equipment ) ) ) — ) Proceeds from sale of assets — Acquisitions, net of cash acquired — — ) — ) Other, net ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash flows from investing activities ) ) ) ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows from financing activities: Net borrowings under short-term agreements — — ) — ) Principal payments on long-term borrowings ) — ) — ) Dividends paid ) — — — ) Intercompany dividends — ) — — Dividends to noncontrolling interest — — ) — ) Intercompany capital contribution ) — — — Proceeds from exercises under stock plans — — — Excess tax benefits from stock option exercises — — — Purchase of treasury shares ) — — — ) Purchase of common treasury shares—stock plan exercises ) — — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net cash flows from financing activities ) — — ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Effect of exchange rate changes on cash and cash equivalents — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net change in cash and cash equivalents ) ) ) — ) Cash and cash equivalents—beginning of year — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents—end of period $ $ $ $ — $ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

SUMMARY OF SIGNIFICANT ACCOUN26

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014	Dec. 27, 2014
Inventories
Inventory valued at the lower of cost, determined on the last-in, first-out (LIFO) method, or market (as a percent)	36.00%		36.00%		44.00%
Excess of replacement cost of inventories over the LIFO value	$ 39,093		$ 39,093		$ 47,178
Raw materials and purchased parts	182,927		182,927		179,093
Work-in-process	26,286		26,286		27,835
Finished goods and manufactured goods	209,777		209,777		199,772
Subtotal	418,990		418,990		406,700
LIFO reserve	39,093		39,093		47,178
Net inventory	379,897		379,897		$ 359,522
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries
United States	33,641	$ 65,096	66,282	$ 136,790
Foreign	9,715	34,856	25,519	49,740
Earnings before income taxes	$ 43,356	$ 99,952	$ 91,801	$ 186,530

SUMMARY OF SIGNIFICANT ACCOUN27

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014
Net periodic benefit expense:
Interest cost	$ 6,189	$ 7,312	$ 12,300	$ 14,509
Expected return on plan assets	(6,344)	(6,640)	(12,605)	(13,175)
Net periodic (benefit) expense	$ (155)	672	$ (305)	1,334
Stock Plans
Shares of common stock available for issuance	1,176,222		1,176,222
Stock option plans
Stock Plans
Compensation expense	$ 1,303	1,262	$ 2,653	2,525
Tax benefits associated with compensation expense	$ 501	$ 486	$ 1,021	$ 972
Stock option plans | Minimum
Stock Plans
Vesting period of options			3 years
Expiration period of grant			6 years
Stock option plans | Maximum
Stock Plans
Vesting period of options			6 years
Expiration period of grant			10 years

SUMMARY OF SIGNIFICANT ACCOUN28

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2015	Jun. 27, 2015	Dec. 27, 2014
Level 1 member
Assets and liabilities measured at fair value
Trading Securities		$ 44,755	$ 45,473
Carrying Value
Assets and liabilities measured at fair value
Trading Securities		44,755	45,473
EMD
Assets and liabilities measured at fair value
Fair value of remaining ownership		4,966	9,034
Special dividend	$ 5,010
Valmont Deferred Compensation Plan
Assets and liabilities measured at fair value
Assets recorded for the investments held		$ 39,789	$ 36,439

SUMMARY OF SIGNIFICANT ACCOUN29

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4) $ in Thousands	6 Months Ended
	Jun. 27, 2015USD ($)
Components of accumulated other comprehensive income (loss)
Balance at the beginning of the period	$ (134,433)
Current-period comprehensive income (loss)	(37,075)
Balance at the end of the period	(171,508)
Foreign Currency Translation Adjustments
Components of accumulated other comprehensive income (loss)
Balance at the beginning of the period	(99,618)
Current-period comprehensive income (loss)	(38,157)
Balance at the end of the period	(137,775)
Unrealized Loss on Cash Flow Hedge
Components of accumulated other comprehensive income (loss)
Balance at the beginning of the period	3,879
Current-period comprehensive income (loss)	1,082
Balance at the end of the period	4,961
Defined Benefit Pension Plan
Components of accumulated other comprehensive income (loss)
Balance at the beginning of the period	(38,694)
Balance at the end of the period	$ (38,694)

ACQUISITIONS (Details)

ACQUISITIONS (Details) $ / shares in Units, $ in Thousands	Oct. 06, 2014USD ($)facility	Aug. 25, 2014USD ($)	Mar. 03, 2014USD ($)item	Jun. 27, 2015USD ($)	Jun. 28, 2014USD ($)$ / shares	Jun. 27, 2015USD ($)	Jun. 28, 2014USD ($)$ / shares	Dec. 27, 2014USD ($)
Fair values of the assets acquired and liabilities assumed
Goodwill				$ 380,086		$ 380,086		$ 385,111
Pro forma results of operations
Net sales					$ 858,068		$ 1,658,333
Net earnings					$ 64,525		$ 123,441
Earnings per share-diluted | $ / shares					$ 2.40		$ 4.59
Valmont SM, AgSense, Locker, Armorflex and Shakespeare acquisitions
Net sales and net earnings included in Consolidated Statements of Earnings
Net sales included in Consolidated Statements of Earnings				44,271		86,195
Net earnings included in Consolidated Statements of Earnings				$ 2,935		$ 4,933
Valmont SM
Acquisitions
Ownership percentage acquired			90.00%
Annual sales			$ 190,000
Number of manufacturing locations operated | item			2
Cash acquired			$ 56
Cash paid for acquisition			120,483
Fair value of contingent consideration			0
Fair values of the assets acquired and liabilities assumed
Current assets			73,421
Property, plant and equipment			85,638
Intangible assets			30,340
Goodwill			16,803
Total fair value of assets acquired			206,202
Current liabilities			47,754
Deferred income taxes			19,715
Intercompany note payable			37,448
Long-term debt			8,941
Total fair value of liabilities assumed			113,858
Non-controlling interests			9,309
Net assets acquired			$ 83,035
Shakespeare
Acquisitions
Annual sales	$ 55,000
Number of manufacturing locations operated | facility	2
Cash paid for acquisition	$ 48,272
Fair values of the assets acquired and liabilities assumed
Current assets	12,532
Property, plant and equipment	10,694
Intangible assets	13,500
Goodwill	15,416
Total fair value of assets acquired	52,142
Current liabilities	3,870
Net assets acquired	$ 48,272
AgSense LLC
Acquisitions
Ownership percentage acquired		51.00%
Cash paid for acquisition		$ 17,000
Fair values of the assets acquired and liabilities assumed
Goodwill		17,193
Customer relationships, trade name and other intangible assets		$ 16,083

ACQUISITIONS (Details 2)

ACQUISITIONS (Details 2) - USD ($) $ in Thousands	Oct. 06, 2014	Jun. 27, 2015
Valmont SM
Major classes of acquired intangible assets and weighted-average amortization periods
Amount		$ 30,340
Shakespeare
Major classes of acquired intangible assets and weighted-average amortization periods
Amount	$ 13,500
Backlog | Valmont SM
Major classes of acquired intangible assets and weighted-average amortization periods
Amount		$ 3,145
Weighted Average Amortization Period		1 year 6 months
Customer Relationships | Valmont SM
Major classes of acquired intangible assets and weighted-average amortization periods
Amount		$ 15,725
Weighted Average Amortization Period		12 years
Customer Relationships | Shakespeare
Major classes of acquired intangible assets and weighted-average amortization periods
Amount	$ 9,500
Weighted Average Amortization Period	12 years
Trade names | Valmont SM
Major classes of acquired intangible assets and weighted-average amortization periods
Amount		$ 11,470
Trade names | Shakespeare
Major classes of acquired intangible assets and weighted-average amortization periods
Amount	$ 4,000

RESTRUCTURING ACTIVITIES (Detai

RESTRUCTURING ACTIVITIES (Details ) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 27, 2015	Jun. 27, 2015	Apr. 25, 2015	Mar. 28, 2015	Dec. 27, 2014
Restructuring Cost and Reserve [Line Items]
Goodwill	$ 380,086	$ 380,086			$ 385,111
Restructuring costs incurred	14,273
Restructuring liabilities
Recognized Restructuring Expenses	14,273
Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Goodwill	192,548	192,548			197,074
Restructuring costs incurred	4,497
Restructuring liabilities
Recognized Restructuring Expenses	4,497
Utility Support Structures segment
Restructuring Cost and Reserve [Line Items]
Goodwill	75,404	75,404			75,404
Restructuring costs incurred	2,455
Restructuring liabilities
Recognized Restructuring Expenses	2,455
Coatings segment
Restructuring Cost and Reserve [Line Items]
Goodwill	74,228	74,228			74,862
Restructuring costs incurred	4,769
Restructuring liabilities
Recognized Restructuring Expenses	4,769
Irrigation segment
Restructuring Cost and Reserve [Line Items]
Goodwill	19,458	19,458			19,536
Restructuring costs incurred	349
Restructuring liabilities
Recognized Restructuring Expenses	349
Other/Corporate
Restructuring Cost and Reserve [Line Items]
Goodwill	18,448	18,448			$ 18,235
Restructuring costs incurred	2,203
Restructuring liabilities
Recognized Restructuring Expenses	2,203
Total Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	8,000	5,812
Restructuring liabilities
Recognized Restructuring Expenses	8,000	5,812
Costs paid or Otherwise Settled		(2,939)
Restructuring Reserve, Ending Balance	2,873	2,873
Total Cost of Sales | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	1,377
Restructuring liabilities
Recognized Restructuring Expenses	1,377
Total Cost of Sales | Utility Support Structures segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	2,050
Restructuring liabilities
Recognized Restructuring Expenses	2,050
Total Cost of Sales | Coatings segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	4,500
Restructuring liabilities
Recognized Restructuring Expenses	4,500
Total Cost of Sales | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	73
Restructuring liabilities
Recognized Restructuring Expenses	73
Total Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	6,273
Restructuring liabilities
Recognized Restructuring Expenses	6,273
Total Selling, General and Administrative Expenses | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	3,120
Restructuring liabilities
Recognized Restructuring Expenses	3,120
Total Selling, General and Administrative Expenses | Utility Support Structures segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	405
Restructuring liabilities
Recognized Restructuring Expenses	405
Total Selling, General and Administrative Expenses | Coatings segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	269
Restructuring liabilities
Recognized Restructuring Expenses	269
Total Selling, General and Administrative Expenses | Irrigation segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	349
Restructuring liabilities
Recognized Restructuring Expenses	349
Total Selling, General and Administrative Expenses | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	2,130
Restructuring liabilities
Recognized Restructuring Expenses	2,130
Broad Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	30,450	30,450
Broad Restructuring Plan | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring expenses			$ 60,000
Broad Restructuring Plan | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	15,600	15,600
Broad Restructuring Plan | Utility Support Structures segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	4,600	4,600
Broad Restructuring Plan | Coatings segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	5,110	5,110
Goodwill	16,000	16,000
Broad Restructuring Plan | Irrigation segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	1,500	1,500
Broad Restructuring Plan | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	3,640	3,640
Broad Restructuring Plan | Total Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	18,040	18,040
Broad Restructuring Plan | Total Cost of Sales | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	8,575	8,575
Broad Restructuring Plan | Total Cost of Sales | Utility Support Structures segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	3,880	3,880
Broad Restructuring Plan | Total Cost of Sales | Coatings segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	4,835	4,835
Broad Restructuring Plan | Total Cost of Sales | Irrigation segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	675	675
Broad Restructuring Plan | Total Cost of Sales | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	75	75
Broad Restructuring Plan | Total Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	12,410	12,410
Broad Restructuring Plan | Total Selling, General and Administrative Expenses | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	7,025	7,025
Broad Restructuring Plan | Total Selling, General and Administrative Expenses | Utility Support Structures segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	720	720
Broad Restructuring Plan | Total Selling, General and Administrative Expenses | Coatings segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	275	275
Broad Restructuring Plan | Total Selling, General and Administrative Expenses | Irrigation segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	825	825
Broad Restructuring Plan | Total Selling, General and Administrative Expenses | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	3,565	3,565
Additional Potential Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	29,250	29,250
Additional Potential Restructuring Activities | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	7,600	7,600
Additional Potential Restructuring Activities | Coatings segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	16,000	16,000
Additional Potential Restructuring Activities | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	5,650	5,650
Additional Potential Restructuring Activities | Total Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	7,500	7,500
Additional Potential Restructuring Activities | Total Cost of Sales | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	6,500	6,500
Additional Potential Restructuring Activities | Total Cost of Sales | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	1,000	1,000
Additional Potential Restructuring Activities | Total Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	21,750	21,750
Additional Potential Restructuring Activities | Total Selling, General and Administrative Expenses | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	1,100	1,100
Additional Potential Restructuring Activities | Total Selling, General and Administrative Expenses | Coatings segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	16,000	16,000
Additional Potential Restructuring Activities | Total Selling, General and Administrative Expenses | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	4,650	4,650
Severance | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses				$ 800
Severance | Total Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	2,298	4,927
Restructuring liabilities
Recognized Restructuring Expenses	2,298	4,927
Costs paid or Otherwise Settled		(2,294)
Restructuring Reserve, Ending Balance	2,633	2,633
Severance | Total Cost of Sales | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	535
Restructuring liabilities
Recognized Restructuring Expenses	535
Severance | Total Cost of Sales | Utility Support Structures segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	1,380
Restructuring liabilities
Recognized Restructuring Expenses	1,380
Severance | Total Cost of Sales | Coatings segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	310
Restructuring liabilities
Recognized Restructuring Expenses	310
Severance | Total Cost of Sales | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	73
Restructuring liabilities
Recognized Restructuring Expenses	73
Severance | Total Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	1,829
Restructuring liabilities
Recognized Restructuring Expenses	1,829
Severance | Total Selling, General and Administrative Expenses | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	965
Restructuring liabilities
Recognized Restructuring Expenses	965
Severance | Total Selling, General and Administrative Expenses | Utility Support Structures segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	405
Restructuring liabilities
Recognized Restructuring Expenses	405
Severance | Total Selling, General and Administrative Expenses | Irrigation segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	219
Restructuring liabilities
Recognized Restructuring Expenses	219
Severance | Total Selling, General and Administrative Expenses | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	240
Restructuring liabilities
Recognized Restructuring Expenses	240
Severance | Broad Restructuring Plan | Total Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	6,405	6,405
Severance | Broad Restructuring Plan | Total Cost of Sales | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	4,000	4,000
Severance | Broad Restructuring Plan | Total Cost of Sales | Utility Support Structures segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	1,445	1,445
Severance | Broad Restructuring Plan | Total Cost of Sales | Coatings segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	460	460
Severance | Broad Restructuring Plan | Total Cost of Sales | Irrigation segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	425	425
Severance | Broad Restructuring Plan | Total Cost of Sales | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	75	75
Severance | Broad Restructuring Plan | Total Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	5,950	5,950
Severance | Broad Restructuring Plan | Total Selling, General and Administrative Expenses | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	3,900	3,900
Severance | Broad Restructuring Plan | Total Selling, General and Administrative Expenses | Utility Support Structures segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	450	450
Severance | Broad Restructuring Plan | Total Selling, General and Administrative Expenses | Irrigation segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	575	575
Severance | Broad Restructuring Plan | Total Selling, General and Administrative Expenses | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	1,025	1,025
Severance | Additional Potential Restructuring Activities | Total Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	2,250	2,250
Severance | Additional Potential Restructuring Activities | Total Cost of Sales | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	2,000	2,000
Severance | Additional Potential Restructuring Activities | Total Cost of Sales | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	250	250
Severance | Additional Potential Restructuring Activities | Total Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	1,650	1,650
Severance | Additional Potential Restructuring Activities | Total Selling, General and Administrative Expenses | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	500	500
Severance | Additional Potential Restructuring Activities | Total Selling, General and Administrative Expenses | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	1,150	1,150
Other Cash Restructuring | Total Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	460	885
Restructuring liabilities
Recognized Restructuring Expenses	460	885
Costs paid or Otherwise Settled		(645)
Restructuring Reserve, Ending Balance	240	240
Other Cash Restructuring | Total Cost of Sales | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	45
Restructuring liabilities
Recognized Restructuring Expenses	45
Other Cash Restructuring | Total Cost of Sales | Utility Support Structures segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	375
Restructuring liabilities
Recognized Restructuring Expenses	375
Other Cash Restructuring | Total Cost of Sales | Coatings segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	40
Restructuring liabilities
Recognized Restructuring Expenses	40
Other Cash Restructuring | Total Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	394
Restructuring liabilities
Recognized Restructuring Expenses	394
Other Cash Restructuring | Total Selling, General and Administrative Expenses | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	125
Restructuring liabilities
Recognized Restructuring Expenses	125
Other Cash Restructuring | Total Selling, General and Administrative Expenses | Coatings segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	269
Restructuring liabilities
Recognized Restructuring Expenses	269
Other Cash Restructuring | Broad Restructuring Plan | Total Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	2,760	2,760
Other Cash Restructuring | Broad Restructuring Plan | Total Cost of Sales | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	725	725
Other Cash Restructuring | Broad Restructuring Plan | Total Cost of Sales | Utility Support Structures segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	1,810	1,810
Other Cash Restructuring | Broad Restructuring Plan | Total Cost of Sales | Coatings segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	225	225
Other Cash Restructuring | Broad Restructuring Plan | Total Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	2,045	2,045
Other Cash Restructuring | Broad Restructuring Plan | Total Selling, General and Administrative Expenses | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	750	750
Other Cash Restructuring | Broad Restructuring Plan | Total Selling, General and Administrative Expenses | Utility Support Structures segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	270	270
Other Cash Restructuring | Broad Restructuring Plan | Total Selling, General and Administrative Expenses | Coatings segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	275	275
Other Cash Restructuring | Broad Restructuring Plan | Total Selling, General and Administrative Expenses | Irrigation segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	100	100
Other Cash Restructuring | Broad Restructuring Plan | Total Selling, General and Administrative Expenses | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	650	650
Other Cash Restructuring | Additional Potential Restructuring Activities | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	5,000	5,000
Other Cash Restructuring | Additional Potential Restructuring Activities | Total Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	950	950
Other Cash Restructuring | Additional Potential Restructuring Activities | Total Cost of Sales | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	700	700
Other Cash Restructuring | Additional Potential Restructuring Activities | Total Cost of Sales | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	250	250
Asset Impairments/Net Loss On Disposals | Total Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	5,242
Restructuring liabilities
Recognized Restructuring Expenses	5,242
Asset Impairments/Net Loss On Disposals | Total Cost of Sales | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	797
Restructuring liabilities
Recognized Restructuring Expenses	797
Asset Impairments/Net Loss On Disposals | Total Cost of Sales | Utility Support Structures segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	295
Restructuring liabilities
Recognized Restructuring Expenses	295
Asset Impairments/Net Loss On Disposals | Total Cost of Sales | Coatings segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	4,150
Restructuring liabilities
Recognized Restructuring Expenses	4,150
Asset Impairments/Net Loss On Disposals | Total Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	4,050
Restructuring liabilities
Recognized Restructuring Expenses	4,050
Asset Impairments/Net Loss On Disposals | Total Selling, General and Administrative Expenses | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	2,030
Restructuring liabilities
Recognized Restructuring Expenses	2,030
Asset Impairments/Net Loss On Disposals | Total Selling, General and Administrative Expenses | Irrigation segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	130
Restructuring liabilities
Recognized Restructuring Expenses	130
Asset Impairments/Net Loss On Disposals | Total Selling, General and Administrative Expenses | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring costs incurred	1,890
Restructuring liabilities
Recognized Restructuring Expenses	1,890
Asset Impairments/Net Loss On Disposals | Broad Restructuring Plan | Total Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	8,875	8,875
Asset Impairments/Net Loss On Disposals | Broad Restructuring Plan | Total Cost of Sales | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	3,850	3,850
Asset Impairments/Net Loss On Disposals | Broad Restructuring Plan | Total Cost of Sales | Utility Support Structures segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	625	625
Asset Impairments/Net Loss On Disposals | Broad Restructuring Plan | Total Cost of Sales | Coatings segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	4,150	4,150
Asset Impairments/Net Loss On Disposals | Broad Restructuring Plan | Total Cost of Sales | Irrigation segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	250	250
Asset Impairments/Net Loss On Disposals | Broad Restructuring Plan | Total Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	4,415	4,415
Asset Impairments/Net Loss On Disposals | Broad Restructuring Plan | Total Selling, General and Administrative Expenses | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	2,375	2,375
Asset Impairments/Net Loss On Disposals | Broad Restructuring Plan | Total Selling, General and Administrative Expenses | Irrigation segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	150	150
Asset Impairments/Net Loss On Disposals | Broad Restructuring Plan | Total Selling, General and Administrative Expenses | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	1,890	1,890
Asset Impairments/Net Loss On Disposals | Additional Potential Restructuring Activities | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	25,000	25,000
Asset Impairments/Net Loss On Disposals | Additional Potential Restructuring Activities | Total Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	4,300	4,300
Asset Impairments/Net Loss On Disposals | Additional Potential Restructuring Activities | Total Cost of Sales | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	3,800	3,800
Asset Impairments/Net Loss On Disposals | Additional Potential Restructuring Activities | Total Cost of Sales | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	500	500
Asset Impairments/Net Loss On Disposals | Additional Potential Restructuring Activities | Total Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	20,100	20,100
Asset Impairments/Net Loss On Disposals | Additional Potential Restructuring Activities | Total Selling, General and Administrative Expenses | Engineered Infrastructure Products segment:
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	600	600
Asset Impairments/Net Loss On Disposals | Additional Potential Restructuring Activities | Total Selling, General and Administrative Expenses | Coatings segment
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	16,000	16,000
Asset Impairments/Net Loss On Disposals | Additional Potential Restructuring Activities | Total Selling, General and Administrative Expenses | Other/Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	$ 3,500	$ 3,500

GOODWILL AND INTANGIBLE ASSET33

GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 27, 2015	Mar. 28, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014	Dec. 27, 2014
Components of amortized intangible assets
Gross Carrying Amount	$ 226,616			$ 226,616		$ 228,027
Accumulated Amortization	111,939			111,939		103,050
Amortization expense for intangible assets	4,737		$ 4,634	9,650	$ 8,737
Estimated amortization expense
2,015	18,124			18,124
2,016	16,322			16,322
2,017	16,276			16,276
2,018	14,622			14,622
2,019	13,795			13,795
Customer Relationships
Components of amortized intangible assets
Gross Carrying Amount	206,053			206,053		207,509
Accumulated Amortization	96,178			$ 96,178		$ 88,538
Weighted Average Life		13 years		13 years		13 years
Proprietary Software and Database
Components of amortized intangible assets
Gross Carrying Amount	3,676			$ 3,676		$ 3,769
Accumulated Amortization	2,985			$ 2,985		$ 2,977
Weighted Average Life		8 years		8 years		8 years
Patents and Proprietary Technology
Components of amortized intangible assets
Gross Carrying Amount	13,029			$ 13,029		$ 12,394
Accumulated Amortization	9,290			$ 9,290		$ 8,537
Weighted Average Life		8 years		8 years		8 years
Other
Components of amortized intangible assets
Gross Carrying Amount	3,858			$ 3,858		$ 4,355
Accumulated Amortization	$ 3,486			$ 3,486		$ 2,998
Weighted Average Life		3 years		3 years		3 years

GOODWILL AND INTANGIBLE ASSET34

GOODWILL AND INTANGIBLE ASSETS (Details 2) - USD ($) $ in Thousands	Jun. 27, 2015	Dec. 27, 2014
Webforge
Non-amortized intangible assets
Carrying value of trade names	$ 16,997	$ 16,801
Valmont SM
Non-amortized intangible assets
Carrying value of trade names	9,294	10,818
Newmark
Non-amortized intangible assets
Carrying value of trade names	11,111	11,111
Ingal EPS/Ingal Civil Products
Non-amortized intangible assets
Carrying value of trade names	8,971	8,867
Donhad
Non-amortized intangible assets
Carrying value of trade names	6,767	6,689
Shakespeare Member
Non-amortized intangible assets
Carrying value of trade names	4,000	4,000
Industrial Galvanizers
Non-amortized intangible assets
Carrying value of trade names	3,935	3,889
Other
Non-amortized intangible assets
Carrying value of trade names	14,140	14,852
Trade names
Non-amortized intangible assets
Carrying value of trade names	$ 75,215	$ 77,027

GOODWILL AND INTANGIBLE ASSET35

GOODWILL AND INTANGIBLE ASSETS (Details 3) $ in Thousands	6 Months Ended
	Jun. 27, 2015USD ($)
Carrying amount of goodwill
Balance at the beginning of the period	$ 385,111
Impairment	(1,737)
Foreign currency translation	(3,288)
Balance at the end of the period	380,086
Engineered Infrastructure Products segment:
Carrying amount of goodwill
Balance at the beginning of the period	197,074
Impairment	(1,737)
Foreign currency translation	(2,789)
Balance at the end of the period	192,548
Utility Support Structures segment
Carrying amount of goodwill
Balance at the beginning of the period	75,404
Balance at the end of the period	75,404
Coatings segment
Carrying amount of goodwill
Balance at the beginning of the period	74,862
Foreign currency translation	(634)
Balance at the end of the period	74,228
Irrigation segment
Carrying amount of goodwill
Balance at the beginning of the period	19,536
Foreign currency translation	(78)
Balance at the end of the period	19,458
Other/Corporate
Carrying amount of goodwill
Balance at the beginning of the period	18,235
Foreign currency translation	213
Balance at the end of the period	$ 18,448

CASH FLOW SUPPLEMENTARY INFOR36

CASH FLOW SUPPLEMENTARY INFORMATION (Details) - USD ($) $ in Thousands	May. 13, 2014	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Feb. 24, 2015
CASH FLOW SUPPLEMENTARY INFORMATION
Interest		$ 22,898	$ 16,564
Income taxes		$ 14,280	$ 77,691
Increased Dividend (as a percent)	50.00%
Maximum amount of common stock authorized to repurchase under share repurchase program	$ 500,000				$ 250,000
Period over which common stock are authorized to repurchase under share repurchase program	12 months
Shares acquired under share repurchase program		989,821	490,172	3,700,970
Value of shares acquired under share repurchase program		$ 121,020	$ 77,084	$ 516,100

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014
Basic EPS
Net earnings attributable to Valmont Industries, Inc, basic	$ 27,873	$ 63,976	$ 58,612	$ 119,956
Shares outstanding basic	23,336	26,623	23,602	26,669
Per share amount basic (in dollars per share)	$ 1.19	$ 2.40	$ 2.48	$ 4.50
Dilutive Effect of Stock Options
Dilutive effect of stock options number of shares	114	233	114	234
Dilutive effect of stock options (in dollars per share)		$ (0.02)	$ (0.01)	$ (0.04)
Diluted EPS
Net earnings attributable to Valmont Industries, Inc, diluted	$ 27,873	$ 63,976	$ 58,612	$ 119,956
Shares outstanding dilutive	23,450	26,856	23,716	26,903
Per share amount diluted (in dollars per share)	$ 1.19	$ 2.38	$ 2.47	$ 4.46
Antidilutive Securities
Outstanding stock options with exercise prices exceeding the market price of common stock, excluded from the computation of diluted earnings per share (in shares)			452,459

BUSINESS SEGMENTS (Details)

BUSINESS SEGMENTS (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2015USD ($)	Jun. 28, 2014USD ($)	Jun. 27, 2015USD ($)item	Jun. 28, 2014USD ($)
Business Segments
Number of reportable segments | item			4
Maximum percentage of sales of other businesses and activities to consolidated sales as basis for aggregation			10.00%
Net sales	$ 682,123	$ 842,599	$ 1,352,521	$ 1,594,339
Operating Income	54,000	104,776	111,683	203,624
Engineered Infrastructure Products segment:
Business Segments
Net sales	257,017	286,186	488,336	495,083
Operating Income	17,424	28,625	29,406	42,334
Utility Support Structures segment
Business Segments
Net sales	162,656	212,005	338,708	426,237
Operating Income	10,399	26,375	25,756	59,132
Coatings segment
Business Segments
Net sales	63,916	70,387	125,729	137,605
Operating Income	7,862	15,820	18,861	29,706
Irrigation segment
Business Segments
Net sales	153,818	219,913	308,285	432,637
Operating Income	25,814	41,473	50,116	84,619
Other/Corporate
Business Segments
Net sales	44,716	54,108	91,463	102,777
Operating Income	6,273	8,343	12,871	16,893
Corporate
Business Segments
Operating Income	(13,772)	(15,860)	(25,327)	(29,060)
Operating segment
Business Segments
Sales	704,317	884,242	1,401,745	1,680,937
Operating segment | Engineered Infrastructure Products segment:
Business Segments
Sales	261,069	304,352	499,462	532,814
Operating segment | Engineered Infrastructure Products segment: | Lighting, Traffic, and Roadway Products
Business Segments
Sales	154,688	164,753	299,955	303,730
Operating segment | Engineered Infrastructure Products segment: | Communication Products
Business Segments
Sales	45,935	43,618	78,491	73,504
Operating segment | Engineered Infrastructure Products segment: | Offshore Structures
Business Segments
Sales	23,135	47,217	47,983	64,521
Operating segment | Engineered Infrastructure Products segment: | Access Systems
Business Segments
Sales	37,311	48,764	73,033	91,059
Operating segment | Utility Support Structures segment
Business Segments
Sales	162,929	213,030	339,270	427,757
Operating segment | Utility Support Structures segment | Steel
Business Segments
Sales	139,425	179,574	297,698	371,011
Operating segment | Utility Support Structures segment | Concrete
Business Segments
Sales	23,504	33,456	41,572	56,746
Operating segment | Coatings segment
Business Segments
Sales	76,094	85,157	150,454	167,328
Operating segment | Irrigation segment
Business Segments
Sales	153,821	219,917	308,297	432,650
Operating segment | Other/Corporate
Business Segments
Sales	50,404	61,786	104,262	120,388
Intersegment
Business Segments
Sales	22,194	41,643	49,224	86,598
Intersegment | Engineered Infrastructure Products segment:
Business Segments
Sales	4,052	18,166	11,126	37,731
Intersegment | Utility Support Structures segment
Business Segments
Sales	273	1,025	562	1,520
Intersegment | Coatings segment
Business Segments
Sales	12,178	14,770	24,725	29,723
Intersegment | Irrigation segment
Business Segments
Sales	3	4	12	13
Intersegment | Other/Corporate
Business Segments
Sales	$ 5,688	$ 7,678	$ 12,799	$ 17,611

GUARANTOR_NON-GUARANTOR FINAN39

GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014
GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION
Parent company's percentage ownership of Guarantors	100.00%		100.00%
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net sales	$ 682,123	$ 842,599	$ 1,352,521	$ 1,594,339
Cost of sales	512,575	622,122	1,017,519	1,166,880
Gross profit	169,548	220,477	335,002	427,459
Selling, general and administrative expenses	115,548	115,701	223,319	223,835
Operating income	54,000	104,776	111,683	203,624
Other income (expense):
Interest expense	(11,232)	(8,304)	(22,360)	(16,501)
Interest income	616	1,577	1,490	3,316
Other	(28)	1,903	988	(3,909)
Total other income (expenses)	(10,644)	(4,824)	(19,882)	(17,094)
Earnings before income taxes	43,356	99,952	91,801	186,530
Income tax expense (benefit):
Current	19,136	26,117	30,910	59,055
Deferred	(5,219)	7,953	(55)	5,030
Total income tax expense (benefit)	13,917	34,070	30,855	64,085
Earnings before equity in earnings of nonconsolidated subsidiaries	29,439	65,882	60,946	122,445
Equity in earnings of nonconsolidated subsidiaries		(30)		(30)
Net earnings	29,439	65,852	60,946	122,415
Less: Earnings attributable to noncontrolling interests	(1,566)	(1,876)	(2,334)	(2,459)
Net earnings attributable to Valmont Industries, Inc.	27,873	63,976	58,612	119,956
Parent
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net sales	311,156	378,642	640,287	755,284
Cost of sales	232,779	280,054	482,646	551,813
Gross profit	78,377	98,588	157,641	203,471
Selling, general and administrative expenses	50,913	50,164	98,955	97,954
Operating income	27,464	48,424	58,686	105,517
Other income (expense):
Interest expense	(10,894)	(7,691)	(21,726)	(15,366)
Interest income	4	6	13	26
Other	(248)	1,754	(897)	1,821
Total other income (expenses)	(11,138)	(5,931)	(22,610)	(13,519)
Earnings before income taxes	16,326	42,493	36,076	91,998
Income tax expense (benefit):
Current	7,545	9,315	8,937	29,193
Deferred	(1,650)	7,672	3,819	5,829
Total income tax expense (benefit)	5,895	16,987	12,756	35,022
Earnings before equity in earnings of nonconsolidated subsidiaries	10,431	25,506	23,320	56,976
Equity in earnings of nonconsolidated subsidiaries	17,442	38,470	35,292	62,980
Net earnings	27,873	63,976	58,612	119,956
Net earnings attributable to Valmont Industries, Inc.	27,873	63,976	58,612	119,956
Guarantors
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net sales	102,090	124,414	198,038	260,311
Cost of sales	78,149	91,536	153,045	191,352
Gross profit	23,941	32,878	44,993	68,959
Selling, general and administrative expenses	11,091	12,670	22,388	25,661
Operating income	12,850	20,208	22,605	43,298
Other income (expense):
Interest income	2	113	4	296
Other	24	140		(352)
Total other income (expenses)	26	253	4	(56)
Earnings before income taxes	12,876	20,461	22,609	43,242
Income tax expense (benefit):
Current	5,223	5,458	9,850	13,512
Deferred	(51)	2,079	(584)	1,667
Total income tax expense (benefit)	5,172	7,537	9,266	15,179
Earnings before equity in earnings of nonconsolidated subsidiaries	7,704	12,924	13,343	28,063
Equity in earnings of nonconsolidated subsidiaries	876	8,478	5,181	9,023
Net earnings	8,580	21,402	18,524	37,086
Net earnings attributable to Valmont Industries, Inc.	8,580	21,402	18,524	37,086
Non-Guarantors
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net sales	322,555	387,715	624,791	687,996
Cost of sales	254,666	298,764	491,651	533,398
Gross profit	67,889	88,951	133,140	154,598
Selling, general and administrative expenses	53,544	52,867	101,976	100,220
Operating income	14,345	36,084	31,164	54,378
Other income (expense):
Interest expense	(338)	(613)	(634)	(1,135)
Interest income	610	1,458	1,473	2,994
Other	196	9	1,885	(5,378)
Total other income (expenses)	468	854	2,724	(3,519)
Earnings before income taxes	14,813	36,938	33,888	50,859
Income tax expense (benefit):
Current	6,547	11,316	12,344	16,218
Deferred	(3,518)	(1,798)	(3,290)	(2,466)
Total income tax expense (benefit)	3,029	9,518	9,054	13,752
Earnings before equity in earnings of nonconsolidated subsidiaries	11,784	27,420	24,834	37,107
Net earnings	11,784	27,420	24,834	37,107
Less: Earnings attributable to noncontrolling interests	(1,566)	(1,876)	(2,334)	(2,459)
Net earnings attributable to Valmont Industries, Inc.	10,218	25,544	22,500	34,648
Eliminations
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net sales	(53,678)	(48,172)	(110,595)	(109,252)
Cost of sales	(53,019)	(48,232)	109,823	(109,683)
Gross profit	(659)	60	(772)	431
Operating income	(659)	60	(772)	431
Other income (expense):
Earnings before income taxes	(659)	60	(772)	431
Income tax expense (benefit):
Current	(179)	28	(221)	132
Total income tax expense (benefit)	(179)	28	(221)	132
Earnings before equity in earnings of nonconsolidated subsidiaries	(480)	32	(551)	299
Equity in earnings of nonconsolidated subsidiaries	(18,318)	(46,978)	(40,473)	(72,033)
Net earnings	(18,798)	(46,946)	(41,024)	(71,734)
Net earnings attributable to Valmont Industries, Inc.	$ (18,798)	$ (46,946)	$ (41,024)	$ (71,734)

GUARANTOR_NON-GUARANTOR FINAN40

GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net earnings	$ 29,439	$ 65,852	$ 60,946	$ 122,415
Foreign currency translation adjustments:
Unrealized translation gain (loss)	18,328	13,869	(39,850)	25,506
Unrealized gain/(loss) on cash flow hedge:
Amortization cost included in interest expense	19	(33)	37	67
Gain on cash flow hedges	751		1,045
Actuarial gain (loss) in defined benefit pension plan liability		(614)		(847)
Other comprehensive income (loss)	19,098	13,222	(38,768)	24,726
Comprehensive income (loss)	48,537	79,074	22,178	147,141
Comprehensive loss (income) attributable to noncontrolling interests	(1,968)	(1,792)	(641)	(1,704)
Comprehensive income (loss) attributable to Valmont Industries, Inc.	46,569	77,282	21,537	145,437
Parent
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net earnings	27,873	63,976	58,612	119,956
Unrealized gain/(loss) on cash flow hedge:
Amortization cost included in interest expense	19	100	37	200
Gain on cash flow hedges	(301)		(209)
Equity in other comprehensive income	18,978	13,206	(36,903)	25,281
Other comprehensive income (loss)	18,696	13,306	(37,075)	25,481
Comprehensive income (loss)	46,569	77,282	21,537	145,437
Comprehensive income (loss) attributable to Valmont Industries, Inc.	46,569	77,282	21,537	145,437
Guarantors
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net earnings	8,580	21,402	18,524	37,086
Foreign currency translation adjustments:
Unrealized translation gain (loss)	76	(126)	(8,812)	1,063
Unrealized gain/(loss) on cash flow hedge:
Other comprehensive income (loss)	76	(126)	(8,812)	1,063
Comprehensive income (loss)	8,656	21,276	9,712	38,149
Comprehensive income (loss) attributable to Valmont Industries, Inc.	8,656	21,276	9,712	38,149
Non-Guarantors
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net earnings	11,784	27,420	24,834	37,107
Foreign currency translation adjustments:
Unrealized translation gain (loss)	18,252	13,995	(31,038)	24,443
Unrealized gain/(loss) on cash flow hedge:
Amortization cost included in interest expense		(133)		(133)
Gain on cash flow hedges	1,052		1,254
Actuarial gain (loss) in defined benefit pension plan liability		(614)		(847)
Other comprehensive income (loss)	19,304	13,248	(29,784)	23,463
Comprehensive income (loss)	31,088	40,668	(4,950)	60,570
Comprehensive loss (income) attributable to noncontrolling interests	(1,968)	(1,792)	(641)	(1,704)
Comprehensive income (loss) attributable to Valmont Industries, Inc.	29,120	38,876	(5,591)	58,866
Eliminations
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net earnings	(18,798)	(46,946)	(41,024)	(71,734)
Unrealized gain/(loss) on cash flow hedge:
Equity in other comprehensive income	(18,978)	(13,206)	36,903	(25,281)
Other comprehensive income (loss)	(18,978)	(13,206)	36,903	(25,281)
Comprehensive income (loss)	(37,776)	(60,152)	(4,121)	(97,015)
Comprehensive income (loss) attributable to Valmont Industries, Inc.	$ (37,776)	$ (60,152)	$ (4,121)	$ (97,015)

GUARANTOR_NON-GUARANTOR FINAN41

GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Details 3) - USD ($) $ in Thousands	Jun. 27, 2015	Dec. 27, 2014	Jun. 28, 2014	Dec. 28, 2013
Current assets:
Cash and cash equivalents	$ 317,523	$ 371,579	$ 455,927	$ 613,706
Receivables, net	491,706	536,918
Inventories	379,897	359,522
Prepaid expenses	56,653	56,912
Refundable and deferred income taxes	44,072	68,010
Total current assets	1,289,851	1,392,941
Property, plant and equipment, at cost	1,123,885	1,139,569
Less accumulated depreciation and amortization	552,908	533,116
Net property, plant and equipment	570,977	606,453
Goodwill	380,086	385,111
Other intangible assets	189,892	202,004
Other assets	136,586	143,159
Total assets	2,567,392	2,729,668
Current liabilities:
Current installments of long-term debt	1,096	1,181
Notes payable to banks	7,914	13,952
Accounts payable	186,421	196,565
Accrued employee compensation and benefits	75,155	87,950
Accrued expenses	89,983	88,480
Dividends payable	8,733	9,086
Total current liabilities	369,302	397,214
Deferred income taxes	62,959	71,797
Long-term debt, excluding current installments	765,272	766,654
Defined benefit pension liability	135,068	150,124
Deferred compensation	51,056	47,932
Other noncurrent liabilities	43,142	45,542
Shareholders' equity:
Common stock of $1 par value	27,900	27,900
Retained earnings	1,762,534	1,718,662
Accumulated other comprehensive income	(171,508)	(134,433)
Treasury stock	(525,877)	(410,296)
Total Valmont Industries, Inc. shareholders' equity	1,093,049	1,201,833
Noncontrolling interest in consolidated subsidiaries	47,544	48,572
Total shareholders' equity	1,140,593	1,250,405	1,615,090	1,544,846
Total liabilities and shareholders' equity	2,567,392	2,729,668
Parent
Current assets:
Cash and cash equivalents	12,453	69,869	63,127	215,576
Receivables, net	146,163	158,316
Inventories	133,029	127,859
Prepaid expenses	6,782	7,087
Refundable and deferred income taxes	29,974	53,307
Total current assets	328,401	416,438
Property, plant and equipment, at cost	561,190	556,658
Less accumulated depreciation and amortization	334,149	319,899
Net property, plant and equipment	227,041	236,759
Goodwill	20,108	20,108
Other intangible assets	265	292
Investment in subsidiaries and intercompany accounts	1,405,594	1,446,989
Other assets	49,438	46,587
Total assets	2,030,847	2,167,173
Current liabilities:
Current installments of long-term debt	215	213
Accounts payable	51,355	59,893
Accrued employee compensation and benefits	33,728	48,169
Accrued expenses	32,928	32,616
Dividends payable	8,733	9,086
Total current liabilities	126,959	149,977
Deferred income taxes	1,085	5,584
Long-term debt, excluding current installments	759,251	759,895
Deferred compensation	45,231	41,803
Other noncurrent liabilities	5,272	8,081
Shareholders' equity:
Common stock of $1 par value	27,900	27,900
Retained earnings	1,762,534	1,718,662
Accumulated other comprehensive income	(171,508)	(134,433)
Treasury stock	(525,877)	(410,296)
Total Valmont Industries, Inc. shareholders' equity	1,093,049	1,201,833
Total shareholders' equity	1,093,049	1,201,833
Total liabilities and shareholders' equity	2,030,847	2,167,173
Guarantors
Current assets:
Cash and cash equivalents	1,800	2,157	27,758	29,797
Receivables, net	54,606	68,414
Inventories	51,821	54,914
Prepaid expenses	662	502
Refundable and deferred income taxes	6,089	6,194
Total current assets	114,978	132,181
Property, plant and equipment, at cost	125,366	124,182
Less accumulated depreciation and amortization	67,516	65,493
Net property, plant and equipment	57,850	58,689
Goodwill	107,542	107,542
Other intangible assets	41,235	43,644
Investment in subsidiaries and intercompany accounts	854,867	825,236
Total assets	1,176,472	1,167,292
Current liabilities:
Accounts payable	15,355	15,151
Accrued employee compensation and benefits	5,209	5,385
Accrued expenses	6,182	6,052
Total current liabilities	26,746	26,588
Deferred income taxes	28,299	28,988
Shareholders' equity:
Common stock of $1 par value	457,950	457,950
Additional paid-in capital	150,286	150,286
Retained earnings	571,199	552,676
Accumulated other comprehensive income	(58,008)	(49,196)
Total Valmont Industries, Inc. shareholders' equity	1,121,427	1,111,716
Total shareholders' equity	1,121,427	1,111,716
Total liabilities and shareholders' equity	1,176,472	1,167,292
Non-Guarantors
Current assets:
Cash and cash equivalents	303,270	299,553	$ 365,042	$ 368,333
Receivables, net	290,937	310,188
Inventories	198,598	177,512
Prepaid expenses	49,209	49,323
Refundable and deferred income taxes	8,009	8,509
Total current assets	850,023	845,085
Property, plant and equipment, at cost	437,329	458,729
Less accumulated depreciation and amortization	151,243	147,724
Net property, plant and equipment	286,086	311,005
Goodwill	252,436	257,461
Other intangible assets	148,392	158,068
Investment in subsidiaries and intercompany accounts	899,268	887,055
Other assets	87,148	96,572
Total assets	2,523,353	2,555,246
Current liabilities:
Current installments of long-term debt	881	968
Notes payable to banks	7,914	13,952
Accounts payable	119,711	121,521
Accrued employee compensation and benefits	36,218	34,396
Accrued expenses	50,873	49,812
Total current liabilities	215,597	220,649
Deferred income taxes	33,575	37,225
Long-term debt, excluding current installments	6,021	6,759
Defined benefit pension liability	135,068	150,124
Deferred compensation	5,825	6,129
Other noncurrent liabilities	37,870	37,461
Shareholders' equity:
Common stock of $1 par value	648,682	648,682
Additional paid-in capital	1,098,408	1,098,408
Retained earnings	420,383	397,302
Accumulated other comprehensive income	(125,620)	(96,065)
Total Valmont Industries, Inc. shareholders' equity	2,041,853	2,048,327
Noncontrolling interest in consolidated subsidiaries	47,544	48,572
Total shareholders' equity	2,089,397	2,096,899
Total liabilities and shareholders' equity	2,523,353	2,555,246
Eliminations
Current assets:
Inventories	(3,551)	(763)
Total current assets	(3,551)	(763)
Investment in subsidiaries and intercompany accounts	(3,159,729)	(3,159,280)
Total assets	(3,163,280)	(3,160,043)
Shareholders' equity:
Common stock of $1 par value	(1,106,632)	(1,106,632)
Additional paid-in capital	(1,248,694)	(1,248,694)
Retained earnings	(991,582)	(949,978)
Accumulated other comprehensive income	183,628	145,261
Total Valmont Industries, Inc. shareholders' equity	(3,163,280)	(3,160,043)
Total shareholders' equity	(3,163,280)	(3,160,043)
Total liabilities and shareholders' equity	$ (3,163,280)	$ (3,160,043)

GUARANTOR_NON-GUARANTOR FINAN42

GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Details 4) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014
Cash flows from operating activities:
Net earnings	$ 29,439	$ 65,852	$ 60,946	$ 122,415
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and amortization			47,761	43,368
Noncash loss on trading securities			4,582	3,501
Impairment of assets			9,292
Stock-based compensation			3,513	3,686
Defined benefit pension plan expense			(305)	1,334
Contribution to defined benefit pension plan			(15,735)	(17,484)
Gain on sale of property, plant and equipment			542	(102)
Equity in earnings in nonconsolidated subsidiaries				30
Deferred income taxes			(55)	5,030
Changes in assets and liabilities (net of acquisitions):
Receivables			32,511	21,083
Inventories			(27,746)	6,624
Prepaid expenses			(3,087)	(18,289)
Accounts payable			(5,021)	(28,633)
Accrued expenses			(6,431)	(30,415)
Other noncurrent liabilities			1,761	1,766
Income taxes payable (refundable)			15,817	(22,063)
Net cash flows from operating activities			118,345	91,851
Cash flows from investing activities:
Purchase of property, plant and equipment			(24,758)	(46,991)
Acquisitions, net of cash acquired				(120,483)
Proceeds from sale of assets			1,101	1,151
Other, net			5,896	(2,940)
Net cash flows from investing activities			(17,761)	(169,263)
Cash flows from financing activities:
Net borrowings under short-term agreements			(5,890)	(1,861)
Proceeds from long-term borrowings			33,000
Principal payments on long-term borrowings			(33,657)	(259)
Dividends paid			(17,956)	(13,427)
Dividends to noncontrolling interest			(1,669)	(1,340)
Proceeds from exercises under stock plans			9,454	11,996
Excess tax benefits from stock option exercises			1,394	3,576
Purchase of treasury shares			(121,020)	(77,084)
Purchase of common treasury shares - stock plan exercises			(10,490)	(11,984)
Net cash flows from financing activities			(146,834)	(90,383)
Effect of exchange rate changes on cash and cash equivalents			(7,806)	10,016
Net change in cash and cash equivalents			(54,056)	(157,779)
Cash and cash equivalents - beginning of year			371,579	613,706
Cash and cash equivalents - end of period	317,523	455,927	317,523	455,927
Parent
Cash flows from operating activities:
Net earnings	27,873	63,976	58,612	119,956
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and amortization			14,983	12,539
Impairment of assets			1,890
Stock-based compensation			7,466	3,686
Gain on sale of property, plant and equipment			(8)	7
Equity in earnings in nonconsolidated subsidiaries			(35,292)	(62,980)
Deferred income taxes			3,819	5,829
Changes in assets and liabilities (net of acquisitions):
Receivables			12,153	(9,471)
Inventories			10,161	9,584
Prepaid expenses			305	(1,870)
Accounts payable			(8,538)	1,352
Accrued expenses			(13,652)	(23,205)
Other noncurrent liabilities			(2,729)	1,941
Income taxes payable (refundable)			15,016	(22,572)
Net cash flows from operating activities			64,186	34,796
Cash flows from investing activities:
Purchase of property, plant and equipment			(7,065)	(27,046)
Proceeds from sale of assets			25	21
Other, net			24,268	49,004
Net cash flows from investing activities			17,228	21,979
Cash flows from financing activities:
Proceeds from long-term borrowings			33,000
Principal payments on long-term borrowings			(33,212)	(196)
Dividends paid			(17,956)	(13,427)
Intercompany dividends				20,895
Purchase of noncontrolling interest				(143,000)
Proceeds from exercises under stock plans			9,454	11,996
Excess tax benefits from stock option exercises			1,394	3,576
Purchase of treasury shares			(121,020)	(77,084)
Purchase of common treasury shares - stock plan exercises			(10,490)	(11,984)
Net cash flows from financing activities			(138,830)	(209,224)
Net change in cash and cash equivalents			(57,416)	(152,449)
Cash and cash equivalents - beginning of year			69,869	215,576
Cash and cash equivalents - end of period	12,453	63,127	12,453	63,127
Guarantors
Cash flows from operating activities:
Net earnings	8,580	21,402	18,524	37,086
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and amortization			6,278	6,584
Impairment of assets			215
Gain on sale of property, plant and equipment			97	(74)
Equity in earnings in nonconsolidated subsidiaries			(5,181)	(9,023)
Deferred income taxes			(584)	1,667
Changes in assets and liabilities (net of acquisitions):
Receivables			13,807	34,803
Inventories			3,093	10,651
Prepaid expenses			(160)	241
Accounts payable			204	(3,892)
Accrued expenses			(46)	(8,411)
Income taxes payable (refundable)			(5)	1,071
Net cash flows from operating activities			36,242	70,703
Cash flows from investing activities:
Purchase of property, plant and equipment			(3,147)	(1,486)
Proceeds from sale of assets			19	88
Other, net			(33,440)	(74,035)
Net cash flows from investing activities			(36,568)	(75,433)
Cash flows from financing activities:
Effect of exchange rate changes on cash and cash equivalents			(31)	2,691
Net change in cash and cash equivalents			(357)	(2,039)
Cash and cash equivalents - beginning of year			2,157	29,797
Cash and cash equivalents - end of period	1,800	27,758	1,800	27,758
Non-Guarantors
Cash flows from operating activities:
Net earnings	11,784	27,420	24,834	37,107
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and amortization			26,500	24,245
Noncash loss on trading securities			4,582	3,501
Impairment of assets			7,187
Stock-based compensation			(3,953)
Defined benefit pension plan expense			(305)	1,334
Contribution to defined benefit pension plan			(15,735)	(17,484)
Gain on sale of property, plant and equipment			453	(35)
Deferred income taxes			(3,290)	(2,466)
Changes in assets and liabilities (net of acquisitions):
Receivables			6,551	(4,249)
Inventories			(41,000)	(13,611)
Prepaid expenses			(3,232)	(16,660)
Accounts payable			3,313	(26,093)
Accrued expenses			7,267	1,201
Other noncurrent liabilities			4,490	(175)
Income taxes payable (refundable)			806	(562)
Net cash flows from operating activities			18,468	(13,947)
Cash flows from investing activities:
Purchase of property, plant and equipment			(14,546)	(18,459)
Acquisitions, net of cash acquired				(120,483)
Proceeds from sale of assets			1,057	1,042
Other, net			14,517	22,390
Net cash flows from investing activities			1,028	(115,510)
Cash flows from financing activities:
Net borrowings under short-term agreements			(5,890)	(1,861)
Principal payments on long-term borrowings			(445)	(63)
Intercompany dividends				(20,895)
Dividends to noncontrolling interest			(1,669)	(1,340)
Proceeds from sale of partial ownership interest				143,000
Net cash flows from financing activities			(8,004)	118,841
Effect of exchange rate changes on cash and cash equivalents			(7,775)	7,325
Net change in cash and cash equivalents			3,717	(3,291)
Cash and cash equivalents - beginning of year			299,553	368,333
Cash and cash equivalents - end of period	303,270	365,042	303,270	365,042
Eliminations
Cash flows from operating activities:
Net earnings	$ (18,798)	$ (46,946)	(41,024)	(71,734)
Adjustments to reconcile net earnings to net cash flows from operations:
Equity in earnings in nonconsolidated subsidiaries			40,473	72,033
Changes in assets and liabilities (net of acquisitions):
Net cash flows from operating activities			(551)	299
Cash flows from investing activities:
Other, net			551	(299)
Net cash flows from investing activities			$ 551	$ (299)