Valmont Industries (VMI) 10-Q 30 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 26, 2015	Oct. 19, 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	Sep. 26, 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		23,038,856
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Income Statement [Abstract]
Product sales	$ 560,518	$ 686,508	$ 1,776,194	$ 2,134,395
Services sales	72,057	79,160	208,902	225,612
Net sales	632,575	765,668	1,985,096	2,360,007
Product cost of sales	427,688	515,217	1,348,402	1,586,127
Services cost of sales	48,136	50,951	144,941	146,921
Total cost of sales	475,824	566,168	1,493,343	1,733,048
Gross profit	156,751	199,500	491,753	626,959
Selling, general and administrative expenses	104,539	111,697	327,858	335,532
Impairment of goodwill and intangible assets	15,200	0	15,200	0
Operating income	37,012	87,803	148,695	291,427
Other income (expenses):
Interest expense	(11,120)	(8,716)	(33,480)	(25,217)
Interest income	905	1,477	2,395	4,793
Costs associated with refinancing of debt	0	(38,705)	0	(38,705)
Other	(1,230)	(2,344)	(242)	(6,253)
Total other income (expenses)	(11,445)	(48,288)	(31,327)	(65,382)
Earnings before income taxes	25,567	39,515	117,368	226,045
Income tax expense (benefit):
Current	6,746	23,290	37,656	82,345
Deferred	5,272	(9,064)	5,217	(4,034)
Total income tax expense (benefit)	12,018	14,226	42,873	78,311
Earnings before equity in earnings of nonconsolidated subsidiaries	13,549	25,289	74,495	147,734
Equity in earnings of nonconsolidated subsidiaries	0	(4)	0	(34)
Net earnings	13,549	25,285	74,495	147,700
Less: Earnings attributable to noncontrolling interests	(1,483)	(1,726)	(3,817)	(4,185)
Net earnings attributable to Valmont Industries, Inc.	$ 12,066	$ 23,559	$ 70,678	$ 143,515
Earnings per share:
Basic (in dollars per share)	$ 0.52	$ 0.93	$ 3.02	$ 5.48
Diluted (in dollars per share)	0.52	0.92	3	5.43
Cash dividends declared per share (in dollars per share)	$ 0.375	$ 0.375	$ 1.125	$ 1
Weighted average number of shares of common stock outstanding - Basic (in shares)	23,057	25,287	23,420	26,208
Weighted average number of shares of common stock outstanding - Diluted (in shares)	23,170	25,513	23,534	26,439

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Statement of Comprehensive Income [Abstract]
Net earnings	$ 13,549	$ 25,285	$ 74,495	$ 147,700
Foreign currency translation adjustments:
Unrealized translation gain (loss)	(53,518)	(59,001)	(93,368)	(33,495)
Unrealized gain/(loss) on cash flow hedge:
Amortization cost included in interest expense	18	383	55	450
Realized (gain) loss included in net earnings during the period	(439)	983	(439)	983
Gain on cash flow hedges	110	4,837	1,155	4,837
Actuarial gain (loss) in defined benefit pension plan	0	1,116	0	269
Other comprehensive income (loss)	(53,829)	(51,682)	(92,597)	(26,956)
Comprehensive income (loss)	(40,280)	(26,397)	(18,102)	120,744
Comprehensive loss (income) attributable to noncontrolling interests	847	89	206	(1,615)
Comprehensive income (loss) attributable to Valmont Industries, Inc.	$ (39,433)	$ (26,308)	$ (17,896)	$ 119,129

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 26, 2015	Dec. 27, 2014
Current assets:
Cash and cash equivalents	$ 312,851	$ 371,579
Receivables, net	501,403	536,918
Inventories	368,290	359,522
Prepaid expenses	52,208	56,912
Refundable and deferred income taxes	44,736	68,010
Total current assets	1,279,488	1,392,941
Property, plant and equipment, at cost	1,083,211	1,139,569
Less accumulated depreciation and amortization	539,976	533,116
Net property, plant and equipment	543,235	606,453
Goodwill	362,683	385,111
Other intangible assets, net	175,157	202,004
Other assets	129,138	143,159
Total assets	2,489,701	2,729,668
Current liabilities:
Current installments of long-term debt	1,099	1,181
Notes payable to banks	1,496	13,952
Accounts payable	186,581	196,565
Accrued employee compensation and benefits	70,249	87,950
Accrued expenses	104,779	88,480
Dividends payable	8,649	9,086
Total current liabilities	372,853	397,214
Deferred income taxes	66,200	71,797
Long-term debt, excluding current installments	764,823	766,654
Defined benefit pension liability	129,600	150,124
Deferred compensation	48,637	47,932
Other noncurrent liabilities	41,811	45,542
Shareholders’ equity:
Preferred stock of $1 par value - Authorized 500,000 shares; none issued	0	0
Common stock of $1 par value - Authorized 75,000,000 shares; issued 27,900,000 issued	27,900	27,900
Retained earnings	1,767,621	1,718,662
Accumulated other comprehensive income (loss)	(223,007)	(134,433)
Treasury stock	(552,780)	(410,296)
Total Valmont Industries, Inc. shareholders’ equity	1,019,734	1,201,833
Noncontrolling interest in consolidated subsidiaries	46,043	48,572
Total shareholders’ equity	1,065,777	1,250,405
Total liabilities and shareholders’ equity	$ 2,489,701	$ 2,729,668

CONDENSED CONSOLIDATED BALANCE5

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 26, 2015	Dec. 27, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, authorized shares (in shares)	500,000	500,000
Preferred stock, issued shares (in shares)	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized shares (in shares)	75,000,000	75,000,000
Common stock, issued shares (in shares)	27,900,000	27,900,000

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		16 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015
Cash flows from operating activities:
Net earnings	$ 13,549	$ 25,285	$ 74,495	$ 147,700
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and amortization			70,859	64,460
Noncash loss on trading securities			5,020	4,859
Impairment of assets - restructuring activities			12,659	0
Impairment of goodwill & intangible assets			15,200	0
Non-cash debt refinancing costs			0	(2,478)
Stock-based compensation			5,667	5,444
Change in fair value of contingent consideration			0	4,300
Defined benefit pension plan expense (benefit)			(460)	2,003
Contribution to defined benefit pension plan			(15,735)	(18,245)
Gain on sale of property, plant and equipment			1,263	58
Equity in earnings in nonconsolidated subsidiaries	0	4	0	34
Deferred income taxes	5,272	(9,064)	5,217	(4,034)
Changes in assets and liabilities (net of acquisitions):
Receivables			5,551	(19,951)
Inventories			(25,447)	(4,152)
Prepaid expenses			5,275	(19,182)
Accounts payable			832	(21,082)
Accrued expenses			7,368	(27,926)
Other noncurrent liabilities			887	(6,409)
Income taxes refundable			14,171	(22,702)
Net cash flows from operating activities			182,822	82,697
Cash flows from investing activities:
Purchase of property, plant and equipment			(34,447)	(63,412)
Proceeds from sale of assets			3,256	2,107
Acquisitions, net of cash acquired			0	(137,438)
Other, net			5,980	2,992
Net cash flows from investing activities			(25,211)	(195,751)
Cash flows from financing activities:
Net borrowings under short-term agreements			(12,322)	(1,065)
Proceeds from long-term borrowings			37,000	652,540
Principal payments on long-term borrowings			(37,878)	(357,059)
Settlement of financial derivatives			0	4,837
Dividends paid			(26,708)	(23,357)
Dividends to noncontrolling interest			(2,323)	(1,340)
Debt issuance costs			0	(5,464)
Purchase of treasury shares			(148,220)	(316,296)	$ (543,300)
Proceeds from exercises under stock plans			10,902	12,824
Excess tax benefits from stock option exercises			1,458	3,916
Purchase of common treasury shares—stock plan exercises			(12,135)	(12,739)
Net cash flows from financing activities			(190,226)	(43,203)
Effect of exchange rate changes on cash and cash equivalents			(26,113)	(5,231)
Net change in cash and cash equivalents			(58,728)	(161,488)
Cash and cash equivalents—beginning of year			371,579	613,706
Cash and cash equivalents—end of period	$ 312,851	$ 452,218	$ 312,851	$ 452,218	$ 312,851

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Agsense Llc	Valmont SM	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss)	Treasury stock	Noncontrolling interest in consolidated subsidiaries	Noncontrolling interest in consolidated subsidiariesAgsense Llc	Noncontrolling interest in consolidated subsidiariesValmont SM
Beginning balance at Dec. 28, 2013	$ 1,544,846			$ 27,900	$ 0	$ 1,562,670	$ (47,685)	$ (20,860)	$ 22,821
Increase (Decrease) in Shareholders' Equity
Net earnings	147,700					143,515			4,185
Other comprehensive income (loss)	(26,956)						(24,386)		(2,570)
Cash dividends declared	(25,950)					(25,950)			0
Dividends to noncontrolling interests	(1,340)								(1,340)
Acquisition		$ 16,333	$ 9,232							$ 16,333	$ 9,232
Addition of noncontrolling interest	404								404
Purchase of treasury shares	(316,296)							(316,296)
Stock plan exercises	(12,739)							(12,739)
Stock options exercised	12,824				(9,360)	7,301		14,883
Tax benefit from stock option exercises	3,916				3,916
Stock option expense	3,767				3,767
Stock awards	2,945				1,677			1,268
Ending balance at Sep. 27, 2014	1,358,686			27,900	0	1,687,536	(72,071)	(333,744)	49,065
Beginning balance at Dec. 27, 2014	1,250,405			27,900	0	1,718,662	(134,433)	(410,296)	48,572
Increase (Decrease) in Shareholders' Equity
Net earnings	74,495					70,678			3,817
Other comprehensive income (loss)	(92,597)						(88,574)		(4,023)
Cash dividends declared	(26,249)					(26,249)			0
Dividends to noncontrolling interests	(2,323)								(2,323)
Purchase of treasury shares	(148,220)							(148,220)
Stock plan exercises	(12,135)							(12,135)
Stock options exercised	10,902				(11,078)	4,530		17,450
Tax benefit from stock option exercises	1,458				1,458
Stock option expense	3,936				3,936
Stock awards	6,105				5,684			421
Ending balance at Sep. 26, 2015	$ 1,065,777			$ 27,900	$ 0	$ 1,767,621	$ (223,007)	$ (552,780)	$ 46,043

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - shares	9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Statement of Stockholders' Equity [Abstract]
Purchase of treasury shares, shares acquired (in shares)	1,236,771	2,126,392
Stock plan exercises; shares acquired (in shares)	98,367	83,431
Stock options exercised; shares issued (in shares)	138,657	171,508
Stock awards; shares issued (in shares)	5,943	8,247

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 26, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Condensed Consolidated Financial Statements The Condensed Consolidated Balance Sheet as of September 26, 2015 , the Condensed Consolidated Statements of Earnings and Comprehensive Income for the thirteen and thirty-nine weeks ended September 26, 2015 and September 27, 2014 , and the Condensed Consolidated Statements of Cash Flows and Shareholders' Equity for the thirty-nine 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 September 26, 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 September 26, 2015 are not necessarily indicative of the operating results for the full year. Inventories Approximately 38% and 44% of inventory is valued at the lower of cost, determined on the last-in, first-out (LIFO) method, or market as of September 26, 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 $37,068 and $47,178 at September 26, 2015 and December 27, 2014 , respectively. Inventories consisted of the following: September 26, December 27, Raw materials and purchased parts $ 181,618 $ 179,093 Work-in-process 28,934 27,835 Finished goods and manufactured goods 194,806 199,772 Subtotal 405,358 406,700 Less: LIFO reserve 37,068 47,178 $ 368,290 $ 359,522 (1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Income Taxes Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries for the thirteen and thirty-nine weeks ended September 26, 2015 and September 27, 2014 , were as follows: Thirteen Weeks Ended Thirty-nine Weeks Ended 2015 2014 2015 2014 United States $ 26,343 $ 4,844 $ 92,625 $ 141,635 Foreign (776 ) 34,671 24,743 84,410 $ 25,567 $ 39,515 $ 117,368 $ 226,045 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 thirty-nine weeks ended September 26, 2015 and September 27, 2014 were as follows: Thirteen Weeks Ended Thirty-nine Weeks Ended Net periodic (benefit) expense: 2015 2014 2015 2014 Interest cost $ 6,186 $ 7,274 $ 18,486 $ 21,783 Expected return on plan assets (6,341 ) (6,605 ) (18,946 ) (19,780 ) Net periodic (benefit) expense $ (155 ) $ 669 $ (460 ) $ 2,003 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 September 26, 2015 , 1,223,563 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. (1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 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 thirty-nine weeks ended September 26, 2015 and September 27, 2014 , respectively, were as follows: Thirteen Weeks Ended Thirty-nine Weeks Ended 2015 2014 2015 2014 Compensation expense $ 1,283 $ 1,242 $ 3,936 $ 3,767 Income tax benefits 494 478 1,515 1,450 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 $38,005 ( $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. (1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 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 $4,370 and $9,034 as of September 26, 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 Quoted Prices in Significant Other Significant Assets: Trading Securities $ 42,375 $ 42,375 $ — $ — Fair Value Measurement Using: Carrying Value Quoted Prices in Significant Other Significant Assets: Trading Securities $ 45,473 $ 45,473 $ — $ — 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 September 26, 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 $ (99,618 ) $ 3,879 $ (38,694 ) $ (134,433 ) Current-period comprehensive income (loss) (89,345 ) 771 — (88,574 ) Balance at September 26, 2015 $ (188,963 ) $ 4,650 $ (38,694 ) $ (223,007 ) Subsequent Events On September 30, 2015, the Company purchased 100% of the outstanding shares of American Galvanizing for $13.2 million in cash, net of assumed liabilities. American Galvanizing operates a galvanizing operation in Folsom, New Jersey. American Galvanizing's annual sales are approximately $8.5 million and it will be included in the Coatings Segment. The acquisition, which was funded by cash held by the Company, was completed to extend the Company's presence in the northeast United States. (1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-9, 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 2014-9 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	9 Months Ended
	Sep. 26, 2015
Business Combinations [Abstract]
ACQUISITIONS	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 operates two manufacturing locations in Denmark and its operations are reported in the Engineered Infrastructure Products Segment. 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 earn-out clause expires on December 31, 2016. 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. (2) ACQUISITIONS (Continued) 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 $ 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 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 $ 11,470 Indefinite Backlog 3,145 1.5 Customer Relationships 15,725 12.0 Total Intangible Assets $ 30,340 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 fair value measurement process and purchase price allocation for Shakespeare were finalized in the third quarter of 2015. (2) ACQUISITIONS (Continued) The following table summarizes the fair values of the assets acquired and liabilities assumed as of the date of the Shakespeare acquisition (goodwill is deductible for tax purposes): At October 6, 2014 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 Based on the 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 $ 4,000 Indefinite Customer Relationships 9,500 12.0 Total Intangible Assets $ 13,500 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 fair value measurement process and purchase price allocation for AgSense were finalized in the second quarter of 2015. The Company’s Condensed Consolidated Statement of Earnings for the thirteen and thirteen-nine weeks ended September 26, 2015 included net sales of $45,201 and $131,396 and net earnings of $2,333 and $7,266 resulting from the Valmont SM, AgSense, and Shakespeare acquisitions. The pro forma effect of these acquisitions on the third quarter and first three quarters of the 2014 Statement of Earnings was as follows: Thirteen Weeks Ended September 27, 2014 Thirty-nine Weeks Ended September 27, 2014 Net sales $ 780,478 $ 2,438,811 Net earnings $ 24,002 $ 147,443 Earnings per share—diluted $ 0.94 $ 5.58

RESTRUCTURING ACTIVITIES

RESTRUCTURING ACTIVITIES	9 Months Ended
	Sep. 26, 2015
Restructuring and Related Activities [Abstract]
RESTRUCTURING ACTIVITIES	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 $ 3,850 $ 1,638 $ 429 $ 245 $ 75 $ 6,237 Other cash restructuring expenses 1,612 1,895 178 100 — 3,785 Asset impairments/net loss on disposals 2,573 788 4,699 — — 8,060 Total cost of sales 8,035 4,321 5,306 345 75 18,082 Severance 4,335 404 — 629 1,250 6,618 Other cash restructuring expenses — 328 270 — — 598 Asset impairments/net loss on disposals 2,080 — — 130 3,700 5,910 Total selling, general and administrative expenses 6,415 732 270 759 4,950 13,126 Consolidated total $ 14,450 $ 5,053 $ 5,576 $ 1,104 $ 5,025 $ 31,208 The Company is currently evaluating additional potential restructuring activities estimated at $8 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 Other/ Corporate TOTAL Severance $ 2,000 $ 250 $ 2,250 Other cash restructuring expenses 700 250 950 Asset impairments/net loss on disposals 3,800 500 4,300 Total cost of sales 6,500 1,000 7,500 Severance 500 1,150 1,650 Asset impairments/net loss on disposals 600 3,500 4,100 Total selling, general and administrative expenses 1,100 4,650 5,750 Consolidated total $ 7,600 $ 5,650 $ 13,250 (3) RESTRUCTURING ACTIVITES (Continued) During the third quarter of fiscal 2015, the Company recognized the following pre-tax restructuring expenses: EIP Utility Coatings Irrigation Other/ Corporate TOTAL Severance $ 1,819 $ 204 $ 120 $ — $ — $ 2,143 Other cash restructuring expenses 354 674 138 — — 1,166 Asset impairments/net loss on disposals 910 43 548 — — 1,501 Total cost of sales 3,083 921 806 — — 4,810 Severance 1,485 — — 52 400 1,937 Other cash restructuring expenses — 238 — — — 238 Asset impairments/net loss on disposals — — — — 1,815 1,815 Total selling, general and administrative expenses 1,485 238 — 52 2,215 3,990 Consolidated total $ 4,568 $ 1,159 $ 806 $ 52 $ 2,215 $ 8,800 In the first three quarters of 2015, the Company recognized the following pre-tax restructuring expenses: EIP Utility Coatings Irrigation Other/ Corporate TOTAL Severance $ 2,814 $ 1,813 $ 429 $ — $ 73 $ 5,129 Other cash restructuring expenses 399 820 178 — — 1,397 Asset impairments/net loss on disposals 1,707 338 4,699 — — 6,744 Total cost of sales 4,920 2,971 5,306 — 73 13,270 Severance 2,835 405 — 271 640 4,151 Other cash restructuring expenses — 238 270 — — 508 Asset impairments/net loss on disposals 2,080 — — 130 3,705 5,915 Total selling, general and administrative expenses 4,915 643 270 401 4,345 10,574 Consolidated total $ 9,835 $ 3,614 $ 5,576 $ 401 $ 4,418 $ 23,844 Liabilities recorded for the restructuring Plan and changes therein for the first three quarters of fiscal 2015 were as follows: Balance at December 27, 2014 Recognized Restructuring Expense Costs Paid or Otherwise Settled Balance at September 26, 2015 Severance $ — $ 9,280 $ (5,501 ) $ 3,779 Other cash restructuring expenses — 1,904 (1,664 ) 240 Total $ — $ 11,184 $ (7,165 ) $ 4,019

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
	Sep. 26, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS Amortized Intangible Assets The components of amortized intangible assets at September 26, 2015 and December 27, 2014 were as follows: September 26, 2015 Gross Accumulated Weighted Customer Relationships $ 202,199 $ 98,523 13 years Proprietary Software & Database 3,534 2,929 8 years Patents & Proprietary Technology 12,659 9,211 8 years Other 3,833 3,764 3 years $ 222,225 $ 114,427 December 27, 2014 Gross Accumulated Weighted Customer Relationships $ 207,509 $ 88,538 13 years Proprietary Software & Database 3,769 2,977 8 years Patents & Proprietary Technology 12,394 8,537 8 years Other 4,355 2,998 3 years $ 228,027 $ 103,050 Amortization expense for intangible assets for the thirteen and thirty-nine weeks ended September 26, 2015 and September 27, 2014 , respectively was as follows: Thirteen Weeks Ended 2015 2014 $ 4,507 $ 4,702 Thirty-nine Weeks Ended 2015 2014 $ 14,157 $ 13,439 Estimated annual amortization expense related to finite‑lived intangible assets is as follows: Estimated 2015 $ 18,154 2016 15,944 2017 15,898 2018 14,261 2019 13,434 (4) GOODWILL AND INTANGIBLE ASSETS (Continued) 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 September 26, 2015 and December 27, 2014 were as follows: September 26, December 27, Year Acquired Webforge $ 11,477 $ 16,801 2010 Valmont SM 9,284 10,818 2014 Newmark 11,111 11,111 2004 Ingal EPS/Ingal Civil Products 8,668 8,867 2010 Donhad 6,539 6,689 2010 Shakespeare 4,000 4,000 2014 Industrial Galvanizers 2,713 3,889 2010 Other 13,567 14,852 $ 67,359 $ 77,027 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 2015. The values of the trade names were determined using the relief-from-royalty method. Based on this evaluation, the Company recorded a $5,000 impairment of the Webforge trade name (in EIP segment) and a $1,100 impairment of the Industrial Galvanizing trade name (in Coatings segment) during 2015. No other trade names were determined to be impaired. The Webforge product line's net sales decreased in 2015 as investment in oil and gas exploration within Australia and Southeast Asia declined. Goodwill The carrying amount of goodwill by segment as of September 26, 2015 and December 27, 2014 was as follows: Engineered Utility Coatings Irrigation Other Total Balance at December 27, 2014 $ 197,074 $ 75,404 $ 74,862 $ 19,536 $ 18,235 $ 385,111 Impairment — — (9,100 ) — — (9,100 ) Foreign currency translation (8,840 ) — (2,145 ) (196 ) (410 ) (11,591 ) Divestiture of business (1,737 ) — — — — (1,737 ) Balance at September 26, 2015 $ 186,497 $ 75,404 $ 63,617 $ 19,340 $ 17,825 $ 362,683 (4) GOODWILL AND INTANGIBLE ASSETS During the second quarter of 2015, the Company divested of a small business in its EIP segment. The goodwill allocated to that business was $1,737 and was required to be written off based on the selling price of the divested business. The Company’s annual impairment test of goodwill was performed during the third quarter of 2015, using the discounted cash flow method. The APAC Coatings reporting unit failed step one in that the estimated fair value was lower than the carrying value. As a result, the Company recorded a preliminary $9,100 impairment of goodwill on the APAC Coatings reporting unit. The Company will complete step two of the impairment analysis during the fourth quarter as it finalizes the estimated fair values of the property, plant, and equipment for this reporting unit. The goodwill impairment was a result of difficulties in the Australian market over the last couple of years, including a general slowdown in manufacturing. The Company determined that its goodwill for all other reporting units was not impaired, as the valuation of the reporting units exceeded their respective carrying values. The Company's Access Systems reporting unit, which has approximately $70 million in goodwill, is the reporting unit with the smallest cushion between estimated fair value over carrying value. A number of restructuring activities undertaken in 2015 are expected to improve the profitability of this reporting unit. If the net sales for this reporting unit further declines in 2016 and its profitability does not improve in 2016, the Company will have to perform an impairment test as of an interim date. 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	9 Months Ended
	Sep. 26, 2015
Supplemental Cash Flow Elements [Abstract]
CASH FLOW SUPPLEMENTARY INFORMATION	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 thirty-nine weeks ended September 26, 2015 and September 27, 2014 were as follows: 2015 2014 Interest $ 23,447 $ 23,199 Income taxes 21,517 94,493 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 September 26, 2015 , the Company has acquired 3,947,920 shares for approximately $543.3 million under the share repurchase programs.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 26, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table provides a reconciliation between Basic and Diluted earnings per share (EPS): Basic EPS Dilutive Diluted EPS Thirteen weeks ended September 26, 2015: Net earnings attributable to Valmont Industries, Inc. $ 12,066 $ — $ 12,066 Shares outstanding 23,057 113 23,170 Per share amount $ 0.52 $ — $ 0.52 Thirteen weeks ended September 27, 2014: Net earnings attributable to Valmont Industries, Inc. $ 23,559 $ — $ 23,559 Shares outstanding 25,287 226 25,513 Per share amount $ 0.93 $ (0.01 ) $ 0.92 Thirty-nine weeks ended September 26, 2015: Net earnings attributable to Valmont Industries, Inc. $ 70,678 $ — $ 70,678 Shares outstanding 23,420 114 23,534 Per share amount $ 3.02 $ (0.02 ) $ 3.00 Thirty-nine weeks ended September 27, 2014: Net earnings attributable to Valmont Industries, Inc. $ 143,515 $ — $ 143,515 Shares outstanding 26,208 231 26,439 Per share amount $ 5.48 $ (0.05 ) $ 5.43 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 September 26, 2015 and September 27, 2014, there were 433,401 and 273,170 outstanding stock options with exercise prices exceeding the market price of common stock that were excluded from the computation of diluted earnings per share, respectively.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	9 Months Ended
	Sep. 26, 2015
Segment Reporting [Abstract]
BUSINESS SEGMENTS	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. (7) BUSINESS SEGMENTS (Continued) Summary by Business Thirteen Weeks Ended Thirty-nine Weeks Ended September 26, September 27, September 26, September 27, SALES: Engineered Infrastructure Products segment: Lighting, Traffic, and Roadway Products $ 147,425 $ 158,977 $ 447,380 $ 462,707 Communication Products 51,940 45,952 130,431 119,456 Offshore Structures 26,813 41,284 74,796 105,805 Access Systems 33,691 48,686 106,724 139,745 Engineered Infrastructure Products segment 259,869 294,899 759,331 827,713 Utility Support Structures segment: Steel 135,997 156,112 433,695 527,123 Concrete 28,687 25,073 70,259 81,819 Utility Support Structures segment 164,684 181,185 503,954 608,942 Coatings segment 76,200 86,735 226,654 254,063 Irrigation segment 112,205 174,288 420,502 606,938 Other 42,285 60,838 146,547 181,226 Total 655,243 797,945 2,056,988 2,478,882 INTERSEGMENT SALES: Engineered Infrastructure Products segment 6,931 10,696 18,057 48,427 Utility Support Structures segment 287 626 849 2,146 Coatings segment 11,428 13,166 36,153 42,889 Irrigation segment 6 1 18 14 Other 4,016 7,788 16,815 25,399 Total 22,668 32,277 71,892 118,875 NET SALES: Engineered Infrastructure Products segment 252,938 284,203 741,274 779,286 Utility Support Structures segment 164,397 180,559 503,105 606,796 Coatings segment 64,772 73,569 190,501 211,174 Irrigation segment 112,199 174,287 420,484 606,924 Other 38,269 53,050 129,732 155,827 Total $ 632,575 $ 765,668 $ 1,985,096 $ 2,360,007 OPERATING INCOME: Engineered Infrastructure Products segment $ 14,154 $ 33,200 $ 43,560 $ 75,534 Utility Support Structures segment 14,505 16,975 40,261 76,107 Coatings segment 3,145 17,554 22,006 47,260 Irrigation segment 10,539 26,888 60,655 111,507 Other 3,886 6,211 16,757 23,104 Corporate (9,217 ) (13,025 ) (34,544 ) (42,085 ) Total $ 37,012 $ 87,803 $ 148,695 $ 291,427

GUARANTOR_NON-GUARANTOR FINANCI

GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION	9 Months Ended
	Sep. 26, 2015
GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION
GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION	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 September 26, 2015 Parent Guarantors Non- Eliminations Total Net sales $ 249,121 $ 114,766 $ 321,726 $ (53,038 ) $ 632,575 Cost of sales 191,143 82,848 255,424 (53,591 ) 475,824 Gross profit 57,978 31,918 66,302 553 156,751 Selling, general and administrative expenses 44,432 11,154 48,953 — 104,539 Impairment of goodwill and intangible assets — — 15,200 — 15,200 Operating income 13,546 20,764 2,149 553 37,012 Other income (expense): Interest expense (10,822 ) — (298 ) — (11,120 ) Interest income (9 ) 2 912 — 905 Other (2,123 ) 31 862 — (1,230 ) (12,954 ) 33 1,476 — (11,445 ) Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 592 20,797 3,625 553 25,567 Income tax expense (benefit): Current (9,059 ) 8,423 7,226 156 6,746 Deferred 7,909 (478 ) (2,159 ) — 5,272 (1,150 ) 7,945 5,067 156 12,018 Earnings before equity in earnings of nonconsolidated subsidiaries 1,742 12,852 (1,442 ) 397 13,549 Equity in earnings of nonconsolidated subsidiaries 10,324 1,254 — (11,578 ) — Net earnings 12,066 14,106 (1,442 ) (11,181 ) 13,549 Less: Earnings attributable to noncontrolling interests — — (1,483 ) — (1,483 ) Net earnings attributable to Valmont Industries, Inc $ 12,066 $ 14,106 $ (2,925 ) $ (11,181 ) $ 12,066 (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS For the Thirty-nine weeks ended September 26, 2015 Parent Guarantors Non- Eliminations Total Net sales $ 889,408 $ 312,804 $ 946,517 $ (163,633 ) $ 1,985,096 Cost of sales 673,789 235,893 747,075 (163,414 ) 1,493,343 Gross profit 215,619 76,911 199,442 (219 ) 491,753 Selling, general and administrative expenses 143,387 33,542 150,929 — 327,858 Impairment of goodwill and intangible assets — — 15,200 — 15,200 Operating income 72,232 43,369 33,313 (219 ) 148,695 Other income (expense): Interest expense (32,548 ) — (932 ) — (33,480 ) Interest income 4 6 2,385 — 2,395 Other (3,020 ) 31 2,747 — (242 ) (35,564 ) 37 4,200 — (31,327 ) Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 36,668 43,406 37,513 (219 ) 117,368 Income tax expense (benefit): Current (122 ) 18,273 19,570 (65 ) 37,656 Deferred 11,728 (1,062 ) (5,449 ) — 5,217 11,606 17,211 14,121 (65 ) 42,873 Earnings before equity in earnings of nonconsolidated subsidiaries 25,062 26,195 23,392 (154 ) 74,495 Equity in earnings of nonconsolidated subsidiaries 45,616 6,435 — (52,051 ) — Net earnings 70,678 32,630 23,392 (52,205 ) 74,495 Less: Earnings attributable to noncontrolling interests — — (3,817 ) — (3,817 ) Net earnings attributable to Valmont Industries, Inc $ 70,678 $ 32,630 $ 19,575 $ (52,205 ) $ 70,678 (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS For the Thirteen weeks ended September 27, 2014 Parent Guarantors Non- Eliminations Total Net sales $ 313,775 $ 120,016 $ 384,564 $ (52,687 ) $ 765,668 Cost of sales 234,085 92,091 292,722 (52,730 ) 566,168 Gross profit 79,690 27,925 91,842 43 199,500 Selling, general and administrative expenses 48,560 12,145 50,992 — 111,697 Operating income 31,130 15,780 40,850 43 87,803 Other income (expense): Interest expense (8,061 ) — (655 ) — (8,716 ) Interest income 2 60 1,415 — 1,477 Costs associated with refinancing of debt (38,705 ) — — — (38,705 ) Other (196 ) (149 ) (1,999 ) — (2,344 ) (46,960 ) (89 ) (1,239 ) — (48,288 ) Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries (15,830 ) 15,691 39,611 43 39,515 Income tax expense (benefit): Current 9,296 6,206 7,791 (3 ) 23,290 Deferred (12,430 ) (342 ) 3,708 — (9,064 ) (3,134 ) 5,864 11,499 (3 ) 14,226 Earnings before equity in earnings of nonconsolidated subsidiaries (12,696 ) 9,827 28,112 46 25,289 Equity in earnings of nonconsolidated subsidiaries 36,255 8,446 — (44,705 ) (4 ) Net earnings 23,559 18,273 28,112 (44,659 ) 25,285 Less: Earnings attributable to noncontrolling interests — — (1,726 ) — (1,726 ) Net earnings attributable to Valmont Industries, Inc $ 23,559 $ 18,273 $ 26,386 $ (44,659 ) $ 23,559 (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS For the Thirty-nine weeks ended September 27, 2014 Parent Guarantors Non- Eliminations Total Net sales $ 1,069,059 $ 380,327 $ 1,072,560 $ (161,939 ) $ 2,360,007 Cost of sales 785,898 283,443 826,120 (162,413 ) 1,733,048 Gross profit 283,161 96,884 246,440 474 626,959 Selling, general and administrative expenses 146,514 37,806 151,212 — 335,532 Operating income 136,647 59,078 95,228 474 291,427 Other income (expense): Interest expense (23,427 ) — (1,790 ) — (25,217 ) Interest income 28 356 4,409 — 4,793 Costs associated with refinancing of debt (38,705 ) — — — (38,705 ) Other 1,625 (501 ) (7,377 ) — (6,253 ) (60,479 ) (145 ) (4,758 ) — (65,382 ) Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 76,168 58,933 90,470 474 226,045 Income tax expense (benefit): Current 38,489 19,718 24,009 129 82,345 Deferred (6,601 ) 1,325 1,242 — (4,034 ) 31,888 21,043 25,251 129 78,311 Earnings before equity in earnings of nonconsolidated subsidiaries 44,280 37,890 65,219 345 147,734 Equity in earnings of nonconsolidated subsidiaries 99,235 17,469 — (116,738 ) (34 ) Net earnings 143,515 55,359 65,219 (116,393 ) 147,700 Less: Earnings attributable to noncontrolling interests — — (4,185 ) — (4,185 ) Net earnings attributable to Valmont Industries, Inc $ 143,515 $ 55,359 $ 61,034 $ (116,393 ) $ 143,515 (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Thirteen weeks ended September 26, 2015 Parent Guarantors Non- Eliminations Total Net earnings $ 12,066 $ 14,106 $ (1,442 ) $ (11,181 ) $ 13,549 Other comprehensive income (loss), net of tax: Foreign currency translation adjustments: Unrealized translation gain (loss) — (6,168 ) (47,350 ) — (53,518 ) Unrealized loss on cash flow hedge: Amortization cost included in interest expense 18 — — — 18 Realized (gain) loss included in net earnings during the period — — (439 ) — (439 ) Gain on cash flow hedges (33 ) — 143 — 110 Equity in other comprehensive income (51,484 ) — — 51,484 — Other comprehensive income (loss) (51,499 ) (6,168 ) (47,646 ) 51,484 (53,829 ) Comprehensive income (loss) (39,433 ) 7,938 (49,088 ) 40,303 (40,280 ) Comprehensive income attributable to noncontrolling interests — — 847 — 847 Comprehensive income (loss) attributable to Valmont Industries, Inc. $ (39,433 ) $ 7,938 $ (48,241 ) $ 40,303 $ (39,433 ) (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Thirty-nine weeks ended September 26, 2015 Parent Guarantors Non- Eliminations Total Net earnings $ 70,678 $ 32,630 $ 23,392 $ (52,205 ) $ 74,495 Other comprehensive income (loss), net of tax: Foreign currency translation adjustments: Unrealized translation gain (loss) — (14,980 ) (78,388 ) — (93,368 ) Unrealized loss on cash flow hedge: Amortization cost included in interest expense 55 — — — 55 Realized loss included in net earnings during the period — — (439 ) — (439 ) Gain on cash flow hedges (242 ) — 1,397 — 1,155 Equity in other comprehensive income (88,387 ) — — 88,387 — Other comprehensive income (loss) (88,574 ) (14,980 ) (77,430 ) 88,387 (92,597 ) Comprehensive income (loss) (17,896 ) 17,650 (54,038 ) 36,182 (18,102 ) Comprehensive income attributable to noncontrolling interests — — 206 — 206 Comprehensive income (loss) attributable to Valmont Industries, Inc. $ (17,896 ) $ 17,650 $ (53,832 ) $ 36,182 $ (17,896 ) (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Thirteen weeks ended September 27, 2014 Parent Guarantors Non- Eliminations Total Net earnings $ 23,559 $ 18,273 $ 28,112 $ (44,659 ) $ 25,285 Other comprehensive income (loss), net of tax: Foreign currency translation adjustments: Unrealized translation gain (loss) — (53,168 ) (5,833 ) — (59,001 ) Unrealized loss on cash flow hedge: Amortization cost included in interest expense 100 — 283 — 383 Realized loss included in net earnings during the period 983 — — — 983 Gain on cash flow hedges 4,837 — — — 4,837 Actuarial gain (loss) in defined benefit pension plan liability — — 1,116 — 1,116 Equity in other comprehensive income (55,787 ) — — 55,787 — Other comprehensive income (loss) (49,867 ) (53,168 ) (4,434 ) 55,787 (51,682 ) Comprehensive income (loss) (26,308 ) (34,895 ) 23,678 11,128 (26,397 ) Comprehensive income attributable to noncontrolling interests — — 89 — 89 Comprehensive income (loss) attributable to Valmont Industries, Inc. $ (26,308 ) $ (34,895 ) $ 23,767 $ 11,128 $ (26,308 ) (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Thirty-nine weeks ended September 27, 2014 Parent Guarantors Non- Eliminations Total Net earnings $ 143,515 $ 55,359 $ 65,219 $ (116,393 ) $ 147,700 Other comprehensive income (loss), net of tax: Foreign currency translation adjustments: Unrealized translation gain (loss) — (52,105 ) 18,610 — (33,495 ) Unrealized loss on cash flow hedge: Amortization cost included in interest expense 300 — 150 — 450 Realized loss included in net earnings during the period 983 — — — 983 Gain on cash flow hedges 4,837 — — — 4,837 Actuarial gain (loss) in defined benefit pension plan liability — — 269 — 269 Equity in other comprehensive income (30,506 ) — — 30,506 — Other comprehensive income (loss) (24,386 ) (52,105 ) 19,029 30,506 (26,956 ) Comprehensive income 119,129 3,254 84,248 (85,887 ) 120,744 Comprehensive income attributable to noncontrolling interests — — (1,615 ) — (1,615 ) Comprehensive income attributable to Valmont Industries, Inc. $ 119,129 $ 3,254 $ 82,633 $ (85,887 ) $ 119,129 (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED BALANCE SHEETS September 26, 2015 Parent Guarantors Non- Eliminations Total ASSETS Current assets: Cash and cash equivalents $ 21,227 $ 1,641 $ 289,983 $ — $ 312,851 Receivables, net 137,255 68,885 295,263 — 501,403 Inventories 144,751 46,820 179,894 (3,175 ) 368,290 Prepaid expenses 11,397 612 40,199 — 52,208 Refundable and deferred income taxes 30,001 6,262 8,473 — 44,736 Total current assets 344,631 124,220 813,812 (3,175 ) 1,279,488 Property, plant and equipment, at cost 544,933 127,761 410,517 — 1,083,211 Less accumulated depreciation and amortization 330,102 69,069 140,805 — 539,976 Net property, plant and equipment 214,831 58,692 269,712 — 543,235 Goodwill 20,108 107,542 235,033 — 362,683 Other intangible assets 252 40,031 134,874 — 175,157 Investment in subsidiaries and intercompany accounts 1,356,897 848,126 921,673 (3,126,696 ) — Other assets 47,404 16 81,718 — 129,138 Total assets $ 1,984,123 $ 1,178,627 $ 2,456,822 $ (3,129,871 ) $ 2,489,701 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Current installments of long-term debt $ 215 $ — $ 884 $ — $ 1,099 Notes payable to banks — — 1,496 — 1,496 Accounts payable 64,931 14,213 107,437 — 186,581 Accrued employee compensation and benefits 30,576 5,151 34,522 — 70,249 Accrued expenses 44,031 6,145 54,603 — 104,779 Dividends payable 8,649 — — — 8,649 Total current liabilities 148,402 25,509 198,942 — 372,853 Deferred income taxes 8,220 27,994 29,986 — 66,200 Long-term debt, excluding current installments 759,033 — 5,790 — 764,823 Defined benefit pension liability — — 129,600 — 129,600 Deferred compensation 43,485 — 5,152 — 48,637 Other noncurrent liabilities 5,249 — 36,562 — 41,811 Shareholders’ equity: Common stock of $1 par value 27,900 457,950 648,682 (1,106,632 ) 27,900 Additional paid-in capital — 159,414 1,107,536 (1,266,950 ) — Retained earnings 1,767,621 571,936 416,341 (988,277 ) 1,767,621 Accumulated other comprehensive income (loss) (223,007 ) (64,176 ) (167,812 ) 231,988 (223,007 ) Treasury stock (552,780 ) — — — (552,780 ) Total Valmont Industries, Inc. shareholders’ equity 1,019,734 1,125,124 2,004,747 (3,129,871 ) 1,019,734 Noncontrolling interest in consolidated subsidiaries — — 46,043 — 46,043 Total shareholders’ equity 1,019,734 1,125,124 2,050,790 (3,129,871 ) 1,065,777 Total liabilities and shareholders’ equity $ 1,984,123 $ 1,178,627 $ 2,456,822 $ (3,129,871 ) $ 2,489,701 (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED BALANCE SHEETS December 27, 2014 Parent Guarantors Non- Eliminations Total ASSETS Current assets: Cash and cash equivalents $ 69,869 $ 2,157 $ 299,553 $ — $ 371,579 Receivables, net 158,316 68,414 310,188 — 536,918 Inventories 127,859 54,914 177,512 (763 ) 359,522 Prepaid expenses 7,087 502 49,323 — 56,912 Refundable and deferred income taxes 53,307 6,194 8,509 — 68,010 Total current assets 416,438 132,181 845,085 (763 ) 1,392,941 Property, plant and equipment, at cost 556,658 124,182 458,729 — 1,139,569 Less accumulated depreciation and amortization 319,899 65,493 147,724 — 533,116 Net property, plant and equipment 236,759 58,689 311,005 — 606,453 Goodwill 20,108 107,542 257,461 — 385,111 Other intangible assets 292 43,644 158,068 — 202,004 Investment in subsidiaries and intercompany accounts 1,446,989 825,236 887,055 (3,159,280 ) — Other assets 46,587 — 96,572 — 143,159 Total assets $ 2,167,173 $ 1,167,292 $ 2,555,246 $ (3,160,043 ) $ 2,729,668 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Current installments of long-term debt $ 213 $ — $ 968 $ — $ 1,181 Notes payable to banks — — 13,952 — 13,952 Accounts payable 59,893 15,151 121,521 — 196,565 Accrued employee compensation and benefits 48,169 5,385 34,396 — 87,950 Accrued expenses 32,616 6,052 49,812 — 88,480 Dividends payable 9,086 — — — 9,086 Total current liabilities 149,977 26,588 220,649 — 397,214 Deferred income taxes 5,584 28,988 37,225 — 71,797 Long-term debt, excluding current installments 759,895 — 6,759 — 766,654 Defined benefit pension liability — — 150,124 — 150,124 Deferred compensation 41,803 — 6,129 — 47,932 Other noncurrent liabilities 8,081 — 37,461 — 45,542 Shareholders’ equity: Common stock of $1 par value 27,900 457,950 648,682 (1,106,632 ) 27,900 Additional paid-in capital — 150,286 1,098,408 (1,248,694 ) — Retained earnings 1,718,662 552,676 397,302 (949,978 ) 1,718,662 Accumulated other comprehensive income (134,433 ) (49,196 ) (96,065 ) 145,261 (134,433 ) Treasury stock (410,296 ) — — — (410,296 ) Total Valmont Industries, Inc. shareholders’ equity 1,201,833 1,111,716 2,048,327 (3,160,043 ) 1,201,833 Noncontrolling interest in consolidated subsidiaries — — 48,572 — 48,572 Total shareholders’ equity 1,201,833 1,111,716 2,096,899 (3,160,043 ) 1,250,405 Total liabilities and shareholders’ equity $ 2,167,173 $ 1,167,292 $ 2,555,246 $ (3,160,043 ) $ 2,729,668 (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Thirty-nine Weeks Ended September 26, 2015 Parent Guarantors Non- Eliminations Total Cash flows from operating activities: Net earnings $ 70,678 $ 32,630 $ 23,392 $ (52,205 ) $ 74,495 Adjustments to reconcile net earnings to net cash flows from operations: Depreciation and amortization 22,373 9,372 39,114 — 70,859 Noncash loss on trading securities — — 5,020 — 5,020 Impairment of assets - restructuring activities 4,092 258 8,309 — 12,659 Impairment of Goodwill & Intangibles — — 15,200 — 15,200 Stock-based compensation 9,620 — (3,953 ) — 5,667 Defined benefit pension plan expense — — (460 ) — (460 ) Contribution to defined benefit pension plan — — (15,735 ) — (15,735 ) Gain on sale of property, plant and equipment 333 267 663 — 1,263 Equity in earnings in nonconsolidated subsidiaries (45,616 ) (6,435 ) — 52,051 — Deferred income taxes 11,728 (1,062 ) (5,449 ) — 5,217 Changes in assets and liabilities (net of acquisitions): Receivables 21,061 (471 ) (15,039 ) — 5,551 Inventories (16,893 ) 8,094 (16,648 ) — (25,447 ) Prepaid expenses 840 (110 ) 4,545 — 5,275 Accounts payable 5,038 (938 ) (3,268 ) — 832 Accrued expenses (5,758 ) (140 ) 13,266 — 7,368 Other noncurrent liabilities (2,716 ) — 3,603 — 887 Income taxes payable (refundable) 14,216 (14 ) (31 ) — 14,171 Net cash flows from operating activities 88,996 41,451 52,529 (154 ) 182,822 Cash flows from investing activities: Purchase of property, plant and equipment (9,547 ) (6,065 ) (18,835 ) — (34,447 ) Proceeds from sale of assets 1,508 36 1,712 — 3,256 Other, net 45,326 (35,859 ) (3,641 ) 154 5,980 Net cash flows from investing activities 37,287 (41,888 ) (20,764 ) 154 (25,211 ) Cash flows from financing activities: Net borrowings under short-term agreements — — (12,322 ) — (12,322 ) Proceeds from long-term borrowings 37,000 — — — 37,000 Principal payments on long-term borrowings (37,222 ) — (656 ) — (37,878 ) Dividends paid (26,708 ) — — — (26,708 ) Dividends to noncontrolling interest — — (2,323 ) — (2,323 ) Proceeds from exercises under stock plans 10,902 — — — 10,902 Excess tax benefits from stock option exercises 1,458 — — — 1,458 Purchase of treasury shares (148,220 ) — — — (148,220 ) Purchase of common treasury shares - stock plan exercises (12,135 ) — — — (12,135 ) Net cash flows from financing activities (174,925 ) — (15,301 ) — (190,226 ) Effect of exchange rate changes on cash and cash equivalents — (79 ) (26,034 ) — (26,113 ) Net change in cash and cash equivalents (48,642 ) (516 ) (9,570 ) — (58,728 ) Cash and cash equivalents—beginning of year 69,869 2,157 299,553 — 371,579 Cash and cash equivalents—end of period $ 21,227 $ 1,641 $ 289,983 $ — $ 312,851 (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Thirty-nine Weeks Ended September 27, 2014 Parent Guarantors Non- Eliminations Total Cash flows from operating activities: Net earnings $ 143,515 $ 55,359 $ 65,219 $ (116,393 ) $ 147,700 Adjustments to reconcile net earnings to net cash flows from operations: Depreciation and amortization 17,094 9,804 37,562 — 64,460 Loss on investment — — 4,859 — 4,859 Non-cash debt refinancing costs (2,478 ) — — — (2,478 ) Stock-based compensation 5,444 — — — 5,444 Change in fair value of contingent consideration — — 4,300 — 4,300 Defined benefit pension plan expense — — 2,003 — 2,003 Contribution to defined benefit pension plan — — (18,245 ) — (18,245 ) Gain on sale of property, plant and equipment 37 (30 ) 51 — 58 Equity in earnings in nonconsolidated subsidiaries (99,235 ) (17,469 ) — 116,738 34 Deferred income taxes (6,601 ) 1,325 1,242 — (4,034 ) Changes in assets and liabilities (net of acquisitions): Receivables (18,901 ) 29,838 (30,888 ) — (19,951 ) Inventories 2,914 5,036 (12,102 ) — (4,152 ) Prepaid expenses (2,213 ) 173 (17,142 ) — (19,182 ) Accounts payable (2,788 ) (3,643 ) (14,651 ) — (21,082 ) Accrued expenses (18,654 ) (9,296 ) 24 — (27,926 ) Other noncurrent liabilities 2,061 — (8,470 ) — (6,409 ) Income taxes payable (refundable) (16,149 ) (225 ) (6,328 ) — (22,702 ) Net cash flows from operating activities 4,046 70,872 7,434 345 82,697 Cash flows from investing activities: Purchase of property, plant and equipment (35,925 ) (1,972 ) (25,515 ) — (63,412 ) Proceeds from sale of assets 8 127 1,972 — 2,107 Acquisitions, net of cash acquired — — (137,438 ) — (137,438 ) Other, net 36,954 (53,129 ) 19,512 (345 ) 2,992 Net cash flows from investing activities 1,037 (54,974 ) (141,469 ) (345 ) (195,751 ) Cash flows from financing activities: Net borrowings under short-term agreements — — (1,065 ) — (1,065 ) Proceeds from long-term borrowings 652,540 — — — 652,540 Principal payments on long-term borrowings (356,994 ) — (65 ) — (357,059 ) Settlement of financial derivative 4,837 — — — 4,837 Dividends paid (23,357 ) — — — (23,357 ) Intercompany dividends 116,995 (44,000 ) (72,995 ) — — Dividends to noncontrolling interest — — (1,340 ) — (1,340 ) Debt issuance costs (5,464 ) — — — (5,464 ) Intercompany capital contribution (143,000 ) — 143,000 — — Proceeds from exercises under stock plans 12,824 — — — 12,824 Excess tax benefits from stock option exercises 3,916 — — — 3,916 Purchase of treasury shares (316,296 ) — — — (316,296 ) Purchase of common treasury shares - stock plan exercises (12,739 ) — — — (12,739 ) Net cash flows from financing activities (66,738 ) (44,000 ) 67,535 — (43,203 ) Effect of exchange rate changes on cash and cash equivalents — (36 ) (5,195 ) — (5,231 ) Net change in cash and cash equivalents (61,655 ) (28,138 ) (71,695 ) — (161,488 ) Cash and cash equivalents—beginning of year 215,576 29,797 368,333 — 613,706 Cash and cash equivalents—end of period $ 153,921 $ 1,659 $ 296,638 $ — $ 452,218

SUMMARY OF SIGNIFICANT ACCOUN17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 26, 2015
Accounting Policies [Abstract]
Condensed Consolidated Financial Statements	Condensed Consolidated Financial Statements The Condensed Consolidated Balance Sheet as of September 26, 2015 , the Condensed Consolidated Statements of Earnings and Comprehensive Income for the thirteen and thirty-nine weeks ended September 26, 2015 and September 27, 2014 , and the Condensed Consolidated Statements of Cash Flows and Shareholders' Equity for the thirty-nine 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 September 26, 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 September 26, 2015 are not necessarily indicative of the operating results for the full year.
Inventories	Inventories Approximately 38% and 44% of inventory is valued at the lower of cost, determined on the last-in, first-out (LIFO) method, or market as of September 26, 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.
Income Taxes	Income Taxes Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries for the thirteen and thirty-nine weeks ended September 26, 2015 and September 27, 2014 , were as follows: Thirteen Weeks Ended Thirty-nine Weeks Ended 2015 2014 2015 2014 United States $ 26,343 $ 4,844 $ 92,625 $ 141,635 Foreign (776 ) 34,671 24,743 84,410 $ 25,567 $ 39,515 $ 117,368 $ 226,045
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.
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 September 26, 2015 , 1,223,563 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. (1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Expiration of grants is from six to ten years from the date of grant.
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.
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.
Subsequent Events	Subsequent Events On September 30, 2015, the Company purchased 100% of the outstanding shares of American Galvanizing for $13.2 million in cash, net of assumed liabilities. American Galvanizing operates a galvanizing operation in Folsom, New Jersey. American Galvanizing's annual sales are approximately $8.5 million and it will be included in the Coatings Segment. The acquisition, which was funded by cash held by the Company, was completed to extend the Company's presence in the northeast United States.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-9, 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 2014-9 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)	9 Months Ended
	Sep. 26, 2015
Accounting Policies [Abstract]
Components of inventories	Inventories consisted of the following: September 26, December 27, Raw materials and purchased parts $ 181,618 $ 179,093 Work-in-process 28,934 27,835 Finished goods and manufactured goods 194,806 199,772 Subtotal 405,358 406,700 Less: LIFO reserve 37,068 47,178 $ 368,290 $ 359,522
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries	Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries for the thirteen and thirty-nine weeks ended September 26, 2015 and September 27, 2014 , were as follows: Thirteen Weeks Ended Thirty-nine Weeks Ended 2015 2014 2015 2014 United States $ 26,343 $ 4,844 $ 92,625 $ 141,635 Foreign (776 ) 34,671 24,743 84,410 $ 25,567 $ 39,515 $ 117,368 $ 226,045
Schedule of components of the net periodic pension (benefit) expense	The components of the net periodic pension (benefit) expense for the thirteen and thirty-nine weeks ended September 26, 2015 and September 27, 2014 were as follows: Thirteen Weeks Ended Thirty-nine Weeks Ended Net periodic (benefit) expense: 2015 2014 2015 2014 Interest cost $ 6,186 $ 7,274 $ 18,486 $ 21,783 Expected return on plan assets (6,341 ) (6,605 ) (18,946 ) (19,780 ) Net periodic (benefit) expense $ (155 ) $ 669 $ (460 ) $ 2,003
Compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options	The Company's compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options for the thirteen and thirty-nine weeks ended September 26, 2015 and September 27, 2014 , respectively, were as follows: Thirteen Weeks Ended Thirty-nine Weeks Ended 2015 2014 2015 2014 Compensation expense $ 1,283 $ 1,242 $ 3,936 $ 3,767 Income tax benefits 494 478 1,515 1,450
Valuation methodologies used for assets and liabilities measured at fair value	Fair Value Measurement Using: Carrying Value Quoted Prices in Significant Other Significant Assets: Trading Securities $ 42,375 $ 42,375 $ — $ — Fair Value Measurement Using: Carrying Value Quoted Prices in Significant Other Significant Assets: Trading Securities $ 45,473 $ 45,473 $ — $ —
Components of accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss) consisted of the following at September 26, 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 $ (99,618 ) $ 3,879 $ (38,694 ) $ (134,433 ) Current-period comprehensive income (loss) (89,345 ) 771 — (88,574 ) Balance at September 26, 2015 $ (188,963 ) $ 4,650 $ (38,694 ) $ (223,007 )

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Sep. 26, 2015
Pro forma effect of acquisitions	The pro forma effect of these acquisitions on the third quarter and first three quarters of the 2014 Statement of Earnings was as follows: Thirteen Weeks Ended September 27, 2014 Thirty-nine Weeks Ended September 27, 2014 Net sales $ 780,478 $ 2,438,811 Net earnings $ 24,002 $ 147,443 Earnings per share—diluted $ 0.94 $ 5.58
Valmont SM
Summary of preliminary fair values of the assets acquired and liabilities assumed	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 $ 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
Summary of the major classes of acquired intangible assets and the respective weighted-average amortization periods	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 $ 11,470 Indefinite Backlog 3,145 1.5 Customer Relationships 15,725 12.0 Total Intangible Assets $ 30,340
Shakespeare
Summary of preliminary fair values of the assets acquired and liabilities assumed	The following table summarizes the fair values of the assets acquired and liabilities assumed as of the date of the Shakespeare acquisition (goodwill is deductible for tax purposes): At October 6, 2014 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
Summary of the major classes of acquired intangible assets and the respective weighted-average amortization periods	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 $ 4,000 Indefinite Customer Relationships 9,500 12.0 Total Intangible Assets $ 13,500

RESTRUCTURING ACTIVITIES (Table

RESTRUCTURING ACTIVITIES (Tables)	9 Months Ended
	Sep. 26, 2015
Restructuring Cost and Reserve [Line Items]
Schedule of pre-tax restructuring expenses	During the third quarter of fiscal 2015, the Company recognized the following pre-tax restructuring expenses: EIP Utility Coatings Irrigation Other/ Corporate TOTAL Severance $ 1,819 $ 204 $ 120 $ — $ — $ 2,143 Other cash restructuring expenses 354 674 138 — — 1,166 Asset impairments/net loss on disposals 910 43 548 — — 1,501 Total cost of sales 3,083 921 806 — — 4,810 Severance 1,485 — — 52 400 1,937 Other cash restructuring expenses — 238 — — — 238 Asset impairments/net loss on disposals — — — — 1,815 1,815 Total selling, general and administrative expenses 1,485 238 — 52 2,215 3,990 Consolidated total $ 4,568 $ 1,159 $ 806 $ 52 $ 2,215 $ 8,800 In the first three quarters of 2015, the Company recognized the following pre-tax restructuring expenses: EIP Utility Coatings Irrigation Other/ Corporate TOTAL Severance $ 2,814 $ 1,813 $ 429 $ — $ 73 $ 5,129 Other cash restructuring expenses 399 820 178 — — 1,397 Asset impairments/net loss on disposals 1,707 338 4,699 — — 6,744 Total cost of sales 4,920 2,971 5,306 — 73 13,270 Severance 2,835 405 — 271 640 4,151 Other cash restructuring expenses — 238 270 — — 508 Asset impairments/net loss on disposals 2,080 — — 130 3,705 5,915 Total selling, general and administrative expenses 4,915 643 270 401 4,345 10,574 Consolidated total $ 9,835 $ 3,614 $ 5,576 $ 401 $ 4,418 $ 23,844
Schedule of liabilities recorded for the restructuring plan and changes	Liabilities recorded for the restructuring Plan and changes therein for the first three quarters of fiscal 2015 were as follows: Balance at December 27, 2014 Recognized Restructuring Expense Costs Paid or Otherwise Settled Balance at September 26, 2015 Severance $ — $ 9,280 $ (5,501 ) $ 3,779 Other cash restructuring expenses — 1,904 (1,664 ) 240 Total $ — $ 11,184 $ (7,165 ) $ 4,019
Additional Potential Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Schedule of restructuring activities	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 Other/ Corporate TOTAL Severance $ 2,000 $ 250 $ 2,250 Other cash restructuring expenses 700 250 950 Asset impairments/net loss on disposals 3,800 500 4,300 Total cost of sales 6,500 1,000 7,500 Severance 500 1,150 1,650 Asset impairments/net loss on disposals 600 3,500 4,100 Total selling, general and administrative expenses 1,100 4,650 5,750 Consolidated total $ 7,600 $ 5,650 $ 13,250
Broad Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Schedule of restructuring activities	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 $ 3,850 $ 1,638 $ 429 $ 245 $ 75 $ 6,237 Other cash restructuring expenses 1,612 1,895 178 100 — 3,785 Asset impairments/net loss on disposals 2,573 788 4,699 — — 8,060 Total cost of sales 8,035 4,321 5,306 345 75 18,082 Severance 4,335 404 — 629 1,250 6,618 Other cash restructuring expenses — 328 270 — — 598 Asset impairments/net loss on disposals 2,080 — — 130 3,700 5,910 Total selling, general and administrative expenses 6,415 732 270 759 4,950 13,126 Consolidated total $ 14,450 $ 5,053 $ 5,576 $ 1,104 $ 5,025 $ 31,208

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 26, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of components of amortized intangible assets	The components of amortized intangible assets at September 26, 2015 and December 27, 2014 were as follows: September 26, 2015 Gross Accumulated Weighted Customer Relationships $ 202,199 $ 98,523 13 years Proprietary Software & Database 3,534 2,929 8 years Patents & Proprietary Technology 12,659 9,211 8 years Other 3,833 3,764 3 years $ 222,225 $ 114,427 December 27, 2014 Gross Accumulated Weighted Customer Relationships $ 207,509 $ 88,538 13 years Proprietary Software & Database 3,769 2,977 8 years Patents & Proprietary Technology 12,394 8,537 8 years Other 4,355 2,998 3 years $ 228,027 $ 103,050
Schedule of amortization expense for intangible assets	Amortization expense for intangible assets for the thirteen and thirty-nine weeks ended September 26, 2015 and September 27, 2014 , respectively was as follows: Thirteen Weeks Ended 2015 2014 $ 4,507 $ 4,702 Thirty-nine Weeks Ended 2015 2014 $ 14,157 $ 13,439
Schedule of future estimated amortization expense	Estimated annual amortization expense related to finite‑lived intangible assets is as follows: Estimated 2015 $ 18,154 2016 15,944 2017 15,898 2018 14,261 2019 13,434
Schedule of non-amortized intangible assets	The carrying values of trade names at September 26, 2015 and December 27, 2014 were as follows: September 26, December 27, Year Acquired Webforge $ 11,477 $ 16,801 2010 Valmont SM 9,284 10,818 2014 Newmark 11,111 11,111 2004 Ingal EPS/Ingal Civil Products 8,668 8,867 2010 Donhad 6,539 6,689 2010 Shakespeare 4,000 4,000 2014 Industrial Galvanizers 2,713 3,889 2010 Other 13,567 14,852 $ 67,359 $ 77,027
Schedule of carrying amount of goodwill	The carrying amount of goodwill by segment as of September 26, 2015 and December 27, 2014 was as follows: Engineered Utility Coatings Irrigation Other Total Balance at December 27, 2014 $ 197,074 $ 75,404 $ 74,862 $ 19,536 $ 18,235 $ 385,111 Impairment — — (9,100 ) — — (9,100 ) Foreign currency translation (8,840 ) — (2,145 ) (196 ) (410 ) (11,591 ) Divestiture of business (1,737 ) — — — — (1,737 ) Balance at September 26, 2015 $ 186,497 $ 75,404 $ 63,617 $ 19,340 $ 17,825 $ 362,683

CASH FLOW SUPPLEMENTARY INFOR22

CASH FLOW SUPPLEMENTARY INFORMATION (Tables)	9 Months Ended
	Sep. 26, 2015
Supplemental Cash Flow Elements [Abstract]
Cash payments for interest and income taxes (net of refunds)	Cash payments for interest and income taxes (net of refunds) for the thirty-nine weeks ended September 26, 2015 and September 27, 2014 were as follows: 2015 2014 Interest $ 23,447 $ 23,199 Income taxes 21,517 94,493

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 26, 2015
Earnings Per Share [Abstract]
Reconciliation of basic and diluted earnings per share (EPS)	The following table provides a reconciliation between Basic and Diluted earnings per share (EPS): Basic EPS Dilutive Diluted EPS Thirteen weeks ended September 26, 2015: Net earnings attributable to Valmont Industries, Inc. $ 12,066 $ — $ 12,066 Shares outstanding 23,057 113 23,170 Per share amount $ 0.52 $ — $ 0.52 Thirteen weeks ended September 27, 2014: Net earnings attributable to Valmont Industries, Inc. $ 23,559 $ — $ 23,559 Shares outstanding 25,287 226 25,513 Per share amount $ 0.93 $ (0.01 ) $ 0.92 Thirty-nine weeks ended September 26, 2015: Net earnings attributable to Valmont Industries, Inc. $ 70,678 $ — $ 70,678 Shares outstanding 23,420 114 23,534 Per share amount $ 3.02 $ (0.02 ) $ 3.00 Thirty-nine weeks ended September 27, 2014: Net earnings attributable to Valmont Industries, Inc. $ 143,515 $ — $ 143,515 Shares outstanding 26,208 231 26,439 Per share amount $ 5.48 $ (0.05 ) $ 5.43

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	9 Months Ended
	Sep. 26, 2015
Segment Reporting [Abstract]
Segment reporting information of sales and operating income	Summary by Business Thirteen Weeks Ended Thirty-nine Weeks Ended September 26, September 27, September 26, September 27, SALES: Engineered Infrastructure Products segment: Lighting, Traffic, and Roadway Products $ 147,425 $ 158,977 $ 447,380 $ 462,707 Communication Products 51,940 45,952 130,431 119,456 Offshore Structures 26,813 41,284 74,796 105,805 Access Systems 33,691 48,686 106,724 139,745 Engineered Infrastructure Products segment 259,869 294,899 759,331 827,713 Utility Support Structures segment: Steel 135,997 156,112 433,695 527,123 Concrete 28,687 25,073 70,259 81,819 Utility Support Structures segment 164,684 181,185 503,954 608,942 Coatings segment 76,200 86,735 226,654 254,063 Irrigation segment 112,205 174,288 420,502 606,938 Other 42,285 60,838 146,547 181,226 Total 655,243 797,945 2,056,988 2,478,882 INTERSEGMENT SALES: Engineered Infrastructure Products segment 6,931 10,696 18,057 48,427 Utility Support Structures segment 287 626 849 2,146 Coatings segment 11,428 13,166 36,153 42,889 Irrigation segment 6 1 18 14 Other 4,016 7,788 16,815 25,399 Total 22,668 32,277 71,892 118,875 NET SALES: Engineered Infrastructure Products segment 252,938 284,203 741,274 779,286 Utility Support Structures segment 164,397 180,559 503,105 606,796 Coatings segment 64,772 73,569 190,501 211,174 Irrigation segment 112,199 174,287 420,484 606,924 Other 38,269 53,050 129,732 155,827 Total $ 632,575 $ 765,668 $ 1,985,096 $ 2,360,007 OPERATING INCOME: Engineered Infrastructure Products segment $ 14,154 $ 33,200 $ 43,560 $ 75,534 Utility Support Structures segment 14,505 16,975 40,261 76,107 Coatings segment 3,145 17,554 22,006 47,260 Irrigation segment 10,539 26,888 60,655 111,507 Other 3,886 6,211 16,757 23,104 Corporate (9,217 ) (13,025 ) (34,544 ) (42,085 ) Total $ 37,012 $ 87,803 $ 148,695 $ 291,427

GUARANTOR_NON-GUARANTOR FINAN25

GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Tables)	9 Months Ended
	Sep. 26, 2015
GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION
Condensed Consolidated Statements of Earnings	CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS For the Thirteen weeks ended September 26, 2015 Parent Guarantors Non- Eliminations Total Net sales $ 249,121 $ 114,766 $ 321,726 $ (53,038 ) $ 632,575 Cost of sales 191,143 82,848 255,424 (53,591 ) 475,824 Gross profit 57,978 31,918 66,302 553 156,751 Selling, general and administrative expenses 44,432 11,154 48,953 — 104,539 Impairment of goodwill and intangible assets — — 15,200 — 15,200 Operating income 13,546 20,764 2,149 553 37,012 Other income (expense): Interest expense (10,822 ) — (298 ) — (11,120 ) Interest income (9 ) 2 912 — 905 Other (2,123 ) 31 862 — (1,230 ) (12,954 ) 33 1,476 — (11,445 ) Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 592 20,797 3,625 553 25,567 Income tax expense (benefit): Current (9,059 ) 8,423 7,226 156 6,746 Deferred 7,909 (478 ) (2,159 ) — 5,272 (1,150 ) 7,945 5,067 156 12,018 Earnings before equity in earnings of nonconsolidated subsidiaries 1,742 12,852 (1,442 ) 397 13,549 Equity in earnings of nonconsolidated subsidiaries 10,324 1,254 — (11,578 ) — Net earnings 12,066 14,106 (1,442 ) (11,181 ) 13,549 Less: Earnings attributable to noncontrolling interests — — (1,483 ) — (1,483 ) Net earnings attributable to Valmont Industries, Inc $ 12,066 $ 14,106 $ (2,925 ) $ (11,181 ) $ 12,066 (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS For the Thirty-nine weeks ended September 26, 2015 Parent Guarantors Non- Eliminations Total Net sales $ 889,408 $ 312,804 $ 946,517 $ (163,633 ) $ 1,985,096 Cost of sales 673,789 235,893 747,075 (163,414 ) 1,493,343 Gross profit 215,619 76,911 199,442 (219 ) 491,753 Selling, general and administrative expenses 143,387 33,542 150,929 — 327,858 Impairment of goodwill and intangible assets — — 15,200 — 15,200 Operating income 72,232 43,369 33,313 (219 ) 148,695 Other income (expense): Interest expense (32,548 ) — (932 ) — (33,480 ) Interest income 4 6 2,385 — 2,395 Other (3,020 ) 31 2,747 — (242 ) (35,564 ) 37 4,200 — (31,327 ) Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 36,668 43,406 37,513 (219 ) 117,368 Income tax expense (benefit): Current (122 ) 18,273 19,570 (65 ) 37,656 Deferred 11,728 (1,062 ) (5,449 ) — 5,217 11,606 17,211 14,121 (65 ) 42,873 Earnings before equity in earnings of nonconsolidated subsidiaries 25,062 26,195 23,392 (154 ) 74,495 Equity in earnings of nonconsolidated subsidiaries 45,616 6,435 — (52,051 ) — Net earnings 70,678 32,630 23,392 (52,205 ) 74,495 Less: Earnings attributable to noncontrolling interests — — (3,817 ) — (3,817 ) Net earnings attributable to Valmont Industries, Inc $ 70,678 $ 32,630 $ 19,575 $ (52,205 ) $ 70,678 (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS For the Thirteen weeks ended September 27, 2014 Parent Guarantors Non- Eliminations Total Net sales $ 313,775 $ 120,016 $ 384,564 $ (52,687 ) $ 765,668 Cost of sales 234,085 92,091 292,722 (52,730 ) 566,168 Gross profit 79,690 27,925 91,842 43 199,500 Selling, general and administrative expenses 48,560 12,145 50,992 — 111,697 Operating income 31,130 15,780 40,850 43 87,803 Other income (expense): Interest expense (8,061 ) — (655 ) — (8,716 ) Interest income 2 60 1,415 — 1,477 Costs associated with refinancing of debt (38,705 ) — — — (38,705 ) Other (196 ) (149 ) (1,999 ) — (2,344 ) (46,960 ) (89 ) (1,239 ) — (48,288 ) Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries (15,830 ) 15,691 39,611 43 39,515 Income tax expense (benefit): Current 9,296 6,206 7,791 (3 ) 23,290 Deferred (12,430 ) (342 ) 3,708 — (9,064 ) (3,134 ) 5,864 11,499 (3 ) 14,226 Earnings before equity in earnings of nonconsolidated subsidiaries (12,696 ) 9,827 28,112 46 25,289 Equity in earnings of nonconsolidated subsidiaries 36,255 8,446 — (44,705 ) (4 ) Net earnings 23,559 18,273 28,112 (44,659 ) 25,285 Less: Earnings attributable to noncontrolling interests — — (1,726 ) — (1,726 ) Net earnings attributable to Valmont Industries, Inc $ 23,559 $ 18,273 $ 26,386 $ (44,659 ) $ 23,559 (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS For the Thirty-nine weeks ended September 27, 2014 Parent Guarantors Non- Eliminations Total Net sales $ 1,069,059 $ 380,327 $ 1,072,560 $ (161,939 ) $ 2,360,007 Cost of sales 785,898 283,443 826,120 (162,413 ) 1,733,048 Gross profit 283,161 96,884 246,440 474 626,959 Selling, general and administrative expenses 146,514 37,806 151,212 — 335,532 Operating income 136,647 59,078 95,228 474 291,427 Other income (expense): Interest expense (23,427 ) — (1,790 ) — (25,217 ) Interest income 28 356 4,409 — 4,793 Costs associated with refinancing of debt (38,705 ) — — — (38,705 ) Other 1,625 (501 ) (7,377 ) — (6,253 ) (60,479 ) (145 ) (4,758 ) — (65,382 ) Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries 76,168 58,933 90,470 474 226,045 Income tax expense (benefit): Current 38,489 19,718 24,009 129 82,345 Deferred (6,601 ) 1,325 1,242 — (4,034 ) 31,888 21,043 25,251 129 78,311 Earnings before equity in earnings of nonconsolidated subsidiaries 44,280 37,890 65,219 345 147,734 Equity in earnings of nonconsolidated subsidiaries 99,235 17,469 — (116,738 ) (34 ) Net earnings 143,515 55,359 65,219 (116,393 ) 147,700 Less: Earnings attributable to noncontrolling interests — — (4,185 ) — (4,185 ) Net earnings attributable to Valmont Industries, Inc $ 143,515 $ 55,359 $ 61,034 $ (116,393 ) $ 143,515
Condensed Consolidated Statements of Comprehensive Income	CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Thirteen weeks ended September 26, 2015 Parent Guarantors Non- Eliminations Total Net earnings $ 12,066 $ 14,106 $ (1,442 ) $ (11,181 ) $ 13,549 Other comprehensive income (loss), net of tax: Foreign currency translation adjustments: Unrealized translation gain (loss) — (6,168 ) (47,350 ) — (53,518 ) Unrealized loss on cash flow hedge: Amortization cost included in interest expense 18 — — — 18 Realized (gain) loss included in net earnings during the period — — (439 ) — (439 ) Gain on cash flow hedges (33 ) — 143 — 110 Equity in other comprehensive income (51,484 ) — — 51,484 — Other comprehensive income (loss) (51,499 ) (6,168 ) (47,646 ) 51,484 (53,829 ) Comprehensive income (loss) (39,433 ) 7,938 (49,088 ) 40,303 (40,280 ) Comprehensive income attributable to noncontrolling interests — — 847 — 847 Comprehensive income (loss) attributable to Valmont Industries, Inc. $ (39,433 ) $ 7,938 $ (48,241 ) $ 40,303 $ (39,433 ) (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Thirty-nine weeks ended September 26, 2015 Parent Guarantors Non- Eliminations Total Net earnings $ 70,678 $ 32,630 $ 23,392 $ (52,205 ) $ 74,495 Other comprehensive income (loss), net of tax: Foreign currency translation adjustments: Unrealized translation gain (loss) — (14,980 ) (78,388 ) — (93,368 ) Unrealized loss on cash flow hedge: Amortization cost included in interest expense 55 — — — 55 Realized loss included in net earnings during the period — — (439 ) — (439 ) Gain on cash flow hedges (242 ) — 1,397 — 1,155 Equity in other comprehensive income (88,387 ) — — 88,387 — Other comprehensive income (loss) (88,574 ) (14,980 ) (77,430 ) 88,387 (92,597 ) Comprehensive income (loss) (17,896 ) 17,650 (54,038 ) 36,182 (18,102 ) Comprehensive income attributable to noncontrolling interests — — 206 — 206 Comprehensive income (loss) attributable to Valmont Industries, Inc. $ (17,896 ) $ 17,650 $ (53,832 ) $ 36,182 $ (17,896 ) (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Thirteen weeks ended September 27, 2014 Parent Guarantors Non- Eliminations Total Net earnings $ 23,559 $ 18,273 $ 28,112 $ (44,659 ) $ 25,285 Other comprehensive income (loss), net of tax: Foreign currency translation adjustments: Unrealized translation gain (loss) — (53,168 ) (5,833 ) — (59,001 ) Unrealized loss on cash flow hedge: Amortization cost included in interest expense 100 — 283 — 383 Realized loss included in net earnings during the period 983 — — — 983 Gain on cash flow hedges 4,837 — — — 4,837 Actuarial gain (loss) in defined benefit pension plan liability — — 1,116 — 1,116 Equity in other comprehensive income (55,787 ) — — 55,787 — Other comprehensive income (loss) (49,867 ) (53,168 ) (4,434 ) 55,787 (51,682 ) Comprehensive income (loss) (26,308 ) (34,895 ) 23,678 11,128 (26,397 ) Comprehensive income attributable to noncontrolling interests — — 89 — 89 Comprehensive income (loss) attributable to Valmont Industries, Inc. $ (26,308 ) $ (34,895 ) $ 23,767 $ 11,128 $ (26,308 ) (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Thirty-nine weeks ended September 27, 2014 Parent Guarantors Non- Eliminations Total Net earnings $ 143,515 $ 55,359 $ 65,219 $ (116,393 ) $ 147,700 Other comprehensive income (loss), net of tax: Foreign currency translation adjustments: Unrealized translation gain (loss) — (52,105 ) 18,610 — (33,495 ) Unrealized loss on cash flow hedge: Amortization cost included in interest expense 300 — 150 — 450 Realized loss included in net earnings during the period 983 — — — 983 Gain on cash flow hedges 4,837 — — — 4,837 Actuarial gain (loss) in defined benefit pension plan liability — — 269 — 269 Equity in other comprehensive income (30,506 ) — — 30,506 — Other comprehensive income (loss) (24,386 ) (52,105 ) 19,029 30,506 (26,956 ) Comprehensive income 119,129 3,254 84,248 (85,887 ) 120,744 Comprehensive income attributable to noncontrolling interests — — (1,615 ) — (1,615 ) Comprehensive income attributable to Valmont Industries, Inc. $ 119,129 $ 3,254 $ 82,633 $ (85,887 ) $ 119,129
Condensed Consolidated Balance Sheets	CONDENSED CONSOLIDATED BALANCE SHEETS September 26, 2015 Parent Guarantors Non- Eliminations Total ASSETS Current assets: Cash and cash equivalents $ 21,227 $ 1,641 $ 289,983 $ — $ 312,851 Receivables, net 137,255 68,885 295,263 — 501,403 Inventories 144,751 46,820 179,894 (3,175 ) 368,290 Prepaid expenses 11,397 612 40,199 — 52,208 Refundable and deferred income taxes 30,001 6,262 8,473 — 44,736 Total current assets 344,631 124,220 813,812 (3,175 ) 1,279,488 Property, plant and equipment, at cost 544,933 127,761 410,517 — 1,083,211 Less accumulated depreciation and amortization 330,102 69,069 140,805 — 539,976 Net property, plant and equipment 214,831 58,692 269,712 — 543,235 Goodwill 20,108 107,542 235,033 — 362,683 Other intangible assets 252 40,031 134,874 — 175,157 Investment in subsidiaries and intercompany accounts 1,356,897 848,126 921,673 (3,126,696 ) — Other assets 47,404 16 81,718 — 129,138 Total assets $ 1,984,123 $ 1,178,627 $ 2,456,822 $ (3,129,871 ) $ 2,489,701 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Current installments of long-term debt $ 215 $ — $ 884 $ — $ 1,099 Notes payable to banks — — 1,496 — 1,496 Accounts payable 64,931 14,213 107,437 — 186,581 Accrued employee compensation and benefits 30,576 5,151 34,522 — 70,249 Accrued expenses 44,031 6,145 54,603 — 104,779 Dividends payable 8,649 — — — 8,649 Total current liabilities 148,402 25,509 198,942 — 372,853 Deferred income taxes 8,220 27,994 29,986 — 66,200 Long-term debt, excluding current installments 759,033 — 5,790 — 764,823 Defined benefit pension liability — — 129,600 — 129,600 Deferred compensation 43,485 — 5,152 — 48,637 Other noncurrent liabilities 5,249 — 36,562 — 41,811 Shareholders’ equity: Common stock of $1 par value 27,900 457,950 648,682 (1,106,632 ) 27,900 Additional paid-in capital — 159,414 1,107,536 (1,266,950 ) — Retained earnings 1,767,621 571,936 416,341 (988,277 ) 1,767,621 Accumulated other comprehensive income (loss) (223,007 ) (64,176 ) (167,812 ) 231,988 (223,007 ) Treasury stock (552,780 ) — — — (552,780 ) Total Valmont Industries, Inc. shareholders’ equity 1,019,734 1,125,124 2,004,747 (3,129,871 ) 1,019,734 Noncontrolling interest in consolidated subsidiaries — — 46,043 — 46,043 Total shareholders’ equity 1,019,734 1,125,124 2,050,790 (3,129,871 ) 1,065,777 Total liabilities and shareholders’ equity $ 1,984,123 $ 1,178,627 $ 2,456,822 $ (3,129,871 ) $ 2,489,701 (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED BALANCE SHEETS December 27, 2014 Parent Guarantors Non- Eliminations Total ASSETS Current assets: Cash and cash equivalents $ 69,869 $ 2,157 $ 299,553 $ — $ 371,579 Receivables, net 158,316 68,414 310,188 — 536,918 Inventories 127,859 54,914 177,512 (763 ) 359,522 Prepaid expenses 7,087 502 49,323 — 56,912 Refundable and deferred income taxes 53,307 6,194 8,509 — 68,010 Total current assets 416,438 132,181 845,085 (763 ) 1,392,941 Property, plant and equipment, at cost 556,658 124,182 458,729 — 1,139,569 Less accumulated depreciation and amortization 319,899 65,493 147,724 — 533,116 Net property, plant and equipment 236,759 58,689 311,005 — 606,453 Goodwill 20,108 107,542 257,461 — 385,111 Other intangible assets 292 43,644 158,068 — 202,004 Investment in subsidiaries and intercompany accounts 1,446,989 825,236 887,055 (3,159,280 ) — Other assets 46,587 — 96,572 — 143,159 Total assets $ 2,167,173 $ 1,167,292 $ 2,555,246 $ (3,160,043 ) $ 2,729,668 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Current installments of long-term debt $ 213 $ — $ 968 $ — $ 1,181 Notes payable to banks — — 13,952 — 13,952 Accounts payable 59,893 15,151 121,521 — 196,565 Accrued employee compensation and benefits 48,169 5,385 34,396 — 87,950 Accrued expenses 32,616 6,052 49,812 — 88,480 Dividends payable 9,086 — — — 9,086 Total current liabilities 149,977 26,588 220,649 — 397,214 Deferred income taxes 5,584 28,988 37,225 — 71,797 Long-term debt, excluding current installments 759,895 — 6,759 — 766,654 Defined benefit pension liability — — 150,124 — 150,124 Deferred compensation 41,803 — 6,129 — 47,932 Other noncurrent liabilities 8,081 — 37,461 — 45,542 Shareholders’ equity: Common stock of $1 par value 27,900 457,950 648,682 (1,106,632 ) 27,900 Additional paid-in capital — 150,286 1,098,408 (1,248,694 ) — Retained earnings 1,718,662 552,676 397,302 (949,978 ) 1,718,662 Accumulated other comprehensive income (134,433 ) (49,196 ) (96,065 ) 145,261 (134,433 ) Treasury stock (410,296 ) — — — (410,296 ) Total Valmont Industries, Inc. shareholders’ equity 1,201,833 1,111,716 2,048,327 (3,160,043 ) 1,201,833 Noncontrolling interest in consolidated subsidiaries — — 48,572 — 48,572 Total shareholders’ equity 1,201,833 1,111,716 2,096,899 (3,160,043 ) 1,250,405 Total liabilities and shareholders’ equity $ 2,167,173 $ 1,167,292 $ 2,555,246 $ (3,160,043 ) $ 2,729,668
Condensed Consolidated Statements of Cash Flows	CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Thirty-nine Weeks Ended September 26, 2015 Parent Guarantors Non- Eliminations Total Cash flows from operating activities: Net earnings $ 70,678 $ 32,630 $ 23,392 $ (52,205 ) $ 74,495 Adjustments to reconcile net earnings to net cash flows from operations: Depreciation and amortization 22,373 9,372 39,114 — 70,859 Noncash loss on trading securities — — 5,020 — 5,020 Impairment of assets - restructuring activities 4,092 258 8,309 — 12,659 Impairment of Goodwill & Intangibles — — 15,200 — 15,200 Stock-based compensation 9,620 — (3,953 ) — 5,667 Defined benefit pension plan expense — — (460 ) — (460 ) Contribution to defined benefit pension plan — — (15,735 ) — (15,735 ) Gain on sale of property, plant and equipment 333 267 663 — 1,263 Equity in earnings in nonconsolidated subsidiaries (45,616 ) (6,435 ) — 52,051 — Deferred income taxes 11,728 (1,062 ) (5,449 ) — 5,217 Changes in assets and liabilities (net of acquisitions): Receivables 21,061 (471 ) (15,039 ) — 5,551 Inventories (16,893 ) 8,094 (16,648 ) — (25,447 ) Prepaid expenses 840 (110 ) 4,545 — 5,275 Accounts payable 5,038 (938 ) (3,268 ) — 832 Accrued expenses (5,758 ) (140 ) 13,266 — 7,368 Other noncurrent liabilities (2,716 ) — 3,603 — 887 Income taxes payable (refundable) 14,216 (14 ) (31 ) — 14,171 Net cash flows from operating activities 88,996 41,451 52,529 (154 ) 182,822 Cash flows from investing activities: Purchase of property, plant and equipment (9,547 ) (6,065 ) (18,835 ) — (34,447 ) Proceeds from sale of assets 1,508 36 1,712 — 3,256 Other, net 45,326 (35,859 ) (3,641 ) 154 5,980 Net cash flows from investing activities 37,287 (41,888 ) (20,764 ) 154 (25,211 ) Cash flows from financing activities: Net borrowings under short-term agreements — — (12,322 ) — (12,322 ) Proceeds from long-term borrowings 37,000 — — — 37,000 Principal payments on long-term borrowings (37,222 ) — (656 ) — (37,878 ) Dividends paid (26,708 ) — — — (26,708 ) Dividends to noncontrolling interest — — (2,323 ) — (2,323 ) Proceeds from exercises under stock plans 10,902 — — — 10,902 Excess tax benefits from stock option exercises 1,458 — — — 1,458 Purchase of treasury shares (148,220 ) — — — (148,220 ) Purchase of common treasury shares - stock plan exercises (12,135 ) — — — (12,135 ) Net cash flows from financing activities (174,925 ) — (15,301 ) — (190,226 ) Effect of exchange rate changes on cash and cash equivalents — (79 ) (26,034 ) — (26,113 ) Net change in cash and cash equivalents (48,642 ) (516 ) (9,570 ) — (58,728 ) Cash and cash equivalents—beginning of year 69,869 2,157 299,553 — 371,579 Cash and cash equivalents—end of period $ 21,227 $ 1,641 $ 289,983 $ — $ 312,851 (8) GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Continued) CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Thirty-nine Weeks Ended September 27, 2014 Parent Guarantors Non- Eliminations Total Cash flows from operating activities: Net earnings $ 143,515 $ 55,359 $ 65,219 $ (116,393 ) $ 147,700 Adjustments to reconcile net earnings to net cash flows from operations: Depreciation and amortization 17,094 9,804 37,562 — 64,460 Loss on investment — — 4,859 — 4,859 Non-cash debt refinancing costs (2,478 ) — — — (2,478 ) Stock-based compensation 5,444 — — — 5,444 Change in fair value of contingent consideration — — 4,300 — 4,300 Defined benefit pension plan expense — — 2,003 — 2,003 Contribution to defined benefit pension plan — — (18,245 ) — (18,245 ) Gain on sale of property, plant and equipment 37 (30 ) 51 — 58 Equity in earnings in nonconsolidated subsidiaries (99,235 ) (17,469 ) — 116,738 34 Deferred income taxes (6,601 ) 1,325 1,242 — (4,034 ) Changes in assets and liabilities (net of acquisitions): Receivables (18,901 ) 29,838 (30,888 ) — (19,951 ) Inventories 2,914 5,036 (12,102 ) — (4,152 ) Prepaid expenses (2,213 ) 173 (17,142 ) — (19,182 ) Accounts payable (2,788 ) (3,643 ) (14,651 ) — (21,082 ) Accrued expenses (18,654 ) (9,296 ) 24 — (27,926 ) Other noncurrent liabilities 2,061 — (8,470 ) — (6,409 ) Income taxes payable (refundable) (16,149 ) (225 ) (6,328 ) — (22,702 ) Net cash flows from operating activities 4,046 70,872 7,434 345 82,697 Cash flows from investing activities: Purchase of property, plant and equipment (35,925 ) (1,972 ) (25,515 ) — (63,412 ) Proceeds from sale of assets 8 127 1,972 — 2,107 Acquisitions, net of cash acquired — — (137,438 ) — (137,438 ) Other, net 36,954 (53,129 ) 19,512 (345 ) 2,992 Net cash flows from investing activities 1,037 (54,974 ) (141,469 ) (345 ) (195,751 ) Cash flows from financing activities: Net borrowings under short-term agreements — — (1,065 ) — (1,065 ) Proceeds from long-term borrowings 652,540 — — — 652,540 Principal payments on long-term borrowings (356,994 ) — (65 ) — (357,059 ) Settlement of financial derivative 4,837 — — — 4,837 Dividends paid (23,357 ) — — — (23,357 ) Intercompany dividends 116,995 (44,000 ) (72,995 ) — — Dividends to noncontrolling interest — — (1,340 ) — (1,340 ) Debt issuance costs (5,464 ) — — — (5,464 ) Intercompany capital contribution (143,000 ) — 143,000 — — Proceeds from exercises under stock plans 12,824 — — — 12,824 Excess tax benefits from stock option exercises 3,916 — — — 3,916 Purchase of treasury shares (316,296 ) — — — (316,296 ) Purchase of common treasury shares - stock plan exercises (12,739 ) — — — (12,739 ) Net cash flows from financing activities (66,738 ) (44,000 ) 67,535 — (43,203 ) Effect of exchange rate changes on cash and cash equivalents — (36 ) (5,195 ) — (5,231 ) Net change in cash and cash equivalents (61,655 ) (28,138 ) (71,695 ) — (161,488 ) Cash and cash equivalents—beginning of year 215,576 29,797 368,333 — 613,706 Cash and cash equivalents—end of period $ 153,921 $ 1,659 $ 296,638 $ — $ 452,218

SUMMARY OF SIGNIFICANT ACCOUN26

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Inventories (Details) - USD ($) $ in Thousands	Sep. 26, 2015	Dec. 27, 2014
Accounting Policies [Abstract]
Inventory valued at the lower of cost, determined on the last-in, first-out (LIFO) method, or market (as a percent)	38.00%	44.00%
Excess of replacement cost of inventories over the LIFO value	$ 37,068	$ 47,178
Inventory, Net [Abstract]
Raw materials and purchased parts	181,618	179,093
Work-in-process	28,934	27,835
Finished goods and manufactured goods	194,806	199,772
Subtotal	405,358	406,700
Less: LIFO reserve	37,068	47,178
Net inventory	$ 368,290	$ 359,522

SUMMARY OF SIGNIFICANT ACCOUN27

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Accounting Policies [Abstract]
United States	$ 26,343	$ 4,844	$ 92,625	$ 141,635
Foreign	(776)	34,671	24,743	84,410
Earnings before income taxes	$ 25,567	$ 39,515	$ 117,368	$ 226,045

SUMMARY OF SIGNIFICANT ACCOUN28

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Pension Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Net periodic (benefit) expense:
Interest cost	$ 6,186	$ 7,274	$ 18,486	$ 21,783
Expected return on plan assets	(6,341)	(6,605)	(18,946)	(19,780)
Net periodic (benefit) expense	$ (155)	$ 669	$ (460)	$ 2,003

SUMMARY OF SIGNIFICANT ACCOUN29

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Stock Plans (Details) - Stock Option Plans - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Defined Benefit Plan Disclosure [Line Items]
Shares of common stock available for issuance (in shares)	1,223,563		1,223,563
Compensation expense	$ 1,283	$ 1,242	$ 3,936	$ 3,767
Income tax benefits	$ 494	$ 478	$ 1,515	$ 1,450
Minimum
Defined Benefit Plan Disclosure [Line Items]
Vesting period of options			3 years
Expiration period of grant			6 years
Maximum
Defined Benefit Plan Disclosure [Line Items]
Vesting period of options			6 years
Expiration period of grant			10 years

SUMMARY OF SIGNIFICANT ACCOUN30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2015	Sep. 26, 2015	Dec. 27, 2014
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities		$ 42,375	$ 45,473
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities		0	0
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities		0	0
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading Securities		42,375	45,473
Delta EMD Pty. Ltd
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Special dividend	$ 5,010
Fair value of remaining ownership		4,370	9,034
Valmont Deferred Compensation Plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets recorded for the investments held		$ 38,005	$ 36,439

SUMMARY OF SIGNIFICANT ACCOUN31

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Comprehensive Income (Details) $ in Thousands	9 Months Ended
	Sep. 26, 2015USD ($)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at the beginning of the period	$ (134,433)
Balance at the end of the period	(223,007)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at the beginning of the period	(99,618)
Current-period comprehensive income (loss)	(89,345)
Balance at the end of the period	(188,963)
Unrealized Gain on Cash Flow Hedge
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at the beginning of the period	3,879
Current-period comprehensive income (loss)	771
Balance at the end of the period	4,650
Defined Benefit Pension Plan
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at the beginning of the period	(38,694)
Current-period comprehensive income (loss)	0
Balance at the end of the period	(38,694)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at the beginning of the period	(134,433)
Current-period comprehensive income (loss)	(88,574)
Balance at the end of the period	$ (223,007)

SUMMARY OF SIGNIFICANT ACCOUN32

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Subsequent Events (Details) - Subsequent Event - American Galvanizing $ in Millions	Sep. 30, 2015USD ($)
Subsequent Event [Line Items]
Outstanding shares purchased (as a percent)	100.00%
Cash paid for outstanding shares, net of assumed liabilities	$ 13.2
Coatings Segment
Subsequent Event [Line Items]
Annual sales	$ 8.5

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details)	Oct. 06, 2014USD ($)facility	Aug. 25, 2014USD ($)	Mar. 03, 2014USD ($)facility
Valmont SM
Acquisitions
Ownership percentage acquired			90.00%
Annual sales
Number of manufacturing locations operated | facility			2
Cash acquired			$ 56,000
Cash paid to acquire business			120,483,000
Fair value of contingent consideration			$ 0
Shakespeare
Acquisitions
Annual sales	$ 55,000,000
Number of manufacturing locations operated | facility	2
Cash paid to acquire business	$ 48,272,000
Agsense Llc
Acquisitions
Ownership percentage acquired		51.00%
Cash paid to acquire business		$ 17,000,000

ACQUISITIONS - Fair Value of As

ACQUISITIONS - Fair Value of Assets Acquired and Liabilities Assumed Table (Details) - USD ($) $ in Thousands	Sep. 26, 2015	Dec. 27, 2014	Mar. 03, 2014
Business Acquisition [Line Items]
Goodwill	$ 362,683	$ 385,111
Valmont SM
Business Acquisition [Line Items]
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

ACQUISITIONS - Major Classes of

ACQUISITIONS - Major Classes of Valmont SM's Acquired Intangible Assets Table (Details) - Valmont SM $ in Thousands	Mar. 03, 2014USD ($)
Major classes of acquired intangible assets and weighted-average amortization periods
Amount	$ 30,340
Backlog
Major classes of acquired intangible assets and weighted-average amortization periods
Amount	$ 3,145
Weighted Average Amortization Period (Years)	1 year 6 months
Customer Relationships
Major classes of acquired intangible assets and weighted-average amortization periods
Amount	$ 15,725
Weighted Average Amortization Period (Years)	12 years
Trade Names
Major classes of acquired intangible assets and weighted-average amortization periods
Amount	$ 11,470

ACQUISITIONS - Major Classes 36

ACQUISITIONS - Major Classes of Valmont SM's Acquired Intangible Assets Narrative (Details) - Shakespeare Composite Structures $ in Thousands	Oct. 06, 2014USD ($)facility
Business Acquisition [Line Items]
Cash paid to acquire business	$ 48,272
Number of manufacturing locations operated | facility	2
Annual sales	$ 55,000

ACQUISITIONS - Preliminary Fair

ACQUISITIONS - Preliminary Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 26, 2015	Dec. 27, 2014	Oct. 06, 2014
Business Acquisition [Line Items]
Goodwill	$ 362,683	$ 385,111
Shakespeare
Business Acquisition [Line Items]
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

ACQUISITIONS - Major Classes 38

ACQUISITIONS - Major Classes of Shakespeare Acquired Intangible Assets Table (Details) - Shakespeare Composite Structures $ in Thousands	Oct. 06, 2014USD ($)
ScheduleOfAcquiredFiniteAndIndefiniteLivedIntangibleAssetsByMajorClassTable [Line Items]
Amount	$ 13,500
Customer Relationships
ScheduleOfAcquiredFiniteAndIndefiniteLivedIntangibleAssetsByMajorClassTable [Line Items]
Amount	$ 9,500
Weighted Average Amortization Period (Years)	12 years
Trade Names
ScheduleOfAcquiredFiniteAndIndefiniteLivedIntangibleAssetsByMajorClassTable [Line Items]
Amount	$ 4,000

ACQUISITIONS - Major Classes 39

ACQUISITIONS - Major Classes of Acquired Intangible Assets Narrative (Details) - USD ($) $ in Thousands	Aug. 25, 2014	Sep. 26, 2015	Sep. 26, 2015	Dec. 27, 2014
Business Acquisition [Line Items]
Goodwill		$ 362,683	$ 362,683	$ 385,111
Agsense Llc
Business Acquisition [Line Items]
Ownership percentage acquired	51.00%
Cash paid to acquire business	$ 17,000
Goodwill	17,193
Customer relationships, trade name and other intangible assets	$ 16,083
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Net sales		45,201	131,396
Net earnings		$ 2,333	$ 7,266

ACQUISITIONS - Pro Forma Effect

ACQUISITIONS - Pro Forma Effect (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 27, 2014	Sep. 27, 2014
Business Combinations [Abstract]
Net sales	$ 780,478	$ 2,438,811
Net earnings	$ 24,002	$ 147,443
Earnings per share—diluted (in dollars per share)	$ 0.94	$ 5.58

RESTRUCTURING ACTIVITIES - Narr

RESTRUCTURING ACTIVITIES - Narrative (Details) - USD ($) $ in Thousands	Sep. 26, 2015	Apr. 30, 2015
Broad Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	$ 31,208
Additional Potential Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	13,250
Maximum | Broad Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining		$ 60,000
Maximum | Other cash restructuring expenses | Additional Potential Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	5,000
Maximum | Asset impairments/net loss on disposals | Additional Potential Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	$ 8,000

RESTRUCTURING ACTIVITIES - Pre-

RESTRUCTURING ACTIVITIES - Pre-tax Restructuring Expenses To Be Recognized (Details) - Broad Restructuring Plan $ in Thousands	Sep. 26, 2015USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	$ 31,208
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	18,082
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	13,126
Severance | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	6,237
Severance | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	6,618
Other cash restructuring expenses | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	3,785
Other cash restructuring expenses | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	598
Asset impairments/net loss on disposals | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	8,060
Asset impairments/net loss on disposals | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	5,910
EIP
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	14,450
EIP | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	8,035
EIP | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	6,415
EIP | Severance | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	3,850
EIP | Severance | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	4,335
EIP | Other cash restructuring expenses | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	1,612
EIP | Other cash restructuring expenses | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	0
EIP | Asset impairments/net loss on disposals | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	2,573
EIP | Asset impairments/net loss on disposals | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	2,080
Utility
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	5,053
Utility | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	4,321
Utility | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	732
Utility | Severance | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	1,638
Utility | Severance | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	404
Utility | Other cash restructuring expenses | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	1,895
Utility | Other cash restructuring expenses | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	328
Utility | Asset impairments/net loss on disposals | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	788
Utility | Asset impairments/net loss on disposals | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	0
Coatings
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	5,576
Coatings | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	5,306
Coatings | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	270
Coatings | Severance | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	429
Coatings | Severance | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	0
Coatings | Other cash restructuring expenses | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	178
Coatings | Other cash restructuring expenses | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	270
Coatings | Asset impairments/net loss on disposals | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	4,699
Coatings | Asset impairments/net loss on disposals | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	0
Irrigation
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	1,104
Irrigation | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	345
Irrigation | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	759
Irrigation | Severance | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	245
Irrigation | Severance | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	629
Irrigation | Other cash restructuring expenses | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	100
Irrigation | Other cash restructuring expenses | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	0
Irrigation | Asset impairments/net loss on disposals | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	0
Irrigation | Asset impairments/net loss on disposals | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	130
Other/ Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	5,025
Other/ Corporate | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	75
Other/ Corporate | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	4,950
Other/ Corporate | Severance | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	75
Other/ Corporate | Severance | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	1,250
Other/ Corporate | Other cash restructuring expenses | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	0
Other/ Corporate | Other cash restructuring expenses | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	0
Other/ Corporate | Asset impairments/net loss on disposals | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	0
Other/ Corporate | Asset impairments/net loss on disposals | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	$ 3,700

RESTRUCTURING ACTIVITIES - Segm

RESTRUCTURING ACTIVITIES - Segments Affected by Additional Potential Restructuring Activities (Details) - Additional Potential Restructuring Activities $ in Thousands	Sep. 26, 2015USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	$ 13,250
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	7,500
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	5,750
Severance | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	2,250
Severance | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	1,650
Other cash restructuring expenses | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	950
Asset impairments/net loss on disposals | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	4,300
Asset impairments/net loss on disposals | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	4,100
EIP
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	7,600
EIP | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	6,500
EIP | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	1,100
EIP | Severance | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	2,000
EIP | Severance | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	500
EIP | Other cash restructuring expenses | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	700
EIP | Asset impairments/net loss on disposals | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	3,800
EIP | Asset impairments/net loss on disposals | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	600
Other/ Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	5,650
Other/ Corporate | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	1,000
Other/ Corporate | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	4,650
Other/ Corporate | Severance | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	250
Other/ Corporate | Severance | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	1,150
Other/ Corporate | Other cash restructuring expenses | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	250
Other/ Corporate | Asset impairments/net loss on disposals | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	500
Other/ Corporate | Asset impairments/net loss on disposals | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost remaining	$ 3,500

RESTRUCTURING ACTIVITIES - Pr44

RESTRUCTURING ACTIVITIES - Pre-tax Restructuring Expenses Recognized (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 26, 2015	Sep. 26, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 8,800	$ 23,844
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	4,810	13,270
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3,990	10,574
Severance | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,143	5,129
Severance | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,937	4,151
Other cash restructuring expenses | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,166	1,397
Other cash restructuring expenses | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	238	508
Asset impairments/net loss on disposals | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,501	6,744
Asset impairments/net loss on disposals | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,815	5,915
EIP
Restructuring Cost and Reserve [Line Items]
Restructuring charges	4,568	9,835
EIP | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3,083	4,920
EIP | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,485	4,915
EIP | Severance | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,819	2,814
EIP | Severance | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,485	2,835
EIP | Other cash restructuring expenses | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	354	399
EIP | Other cash restructuring expenses | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
EIP | Asset impairments/net loss on disposals | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	910	1,707
EIP | Asset impairments/net loss on disposals | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	2,080
Utility
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,159	3,614
Utility | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	921	2,971
Utility | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	238	643
Utility | Severance | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	204	1,813
Utility | Severance | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	405
Utility | Other cash restructuring expenses | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	674	820
Utility | Other cash restructuring expenses | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	238	238
Utility | Asset impairments/net loss on disposals | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	43	338
Utility | Asset impairments/net loss on disposals | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Coatings
Restructuring Cost and Reserve [Line Items]
Restructuring charges	806	5,576
Coatings | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	806	5,306
Coatings | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	270
Coatings | Severance | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	120	429
Coatings | Severance | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Coatings | Other cash restructuring expenses | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	138	178
Coatings | Other cash restructuring expenses | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	270
Coatings | Asset impairments/net loss on disposals | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	548	4,699
Coatings | Asset impairments/net loss on disposals | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Irrigation
Restructuring Cost and Reserve [Line Items]
Restructuring charges	52	401
Irrigation | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Irrigation | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	52	401
Irrigation | Severance | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Irrigation | Severance | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	52	271
Irrigation | Other cash restructuring expenses | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Irrigation | Other cash restructuring expenses | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Irrigation | Asset impairments/net loss on disposals | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Irrigation | Asset impairments/net loss on disposals | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	130
Other/ Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,215	4,418
Other/ Corporate | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	73
Other/ Corporate | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,215	4,345
Other/ Corporate | Severance | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	73
Other/ Corporate | Severance | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	400	640
Other/ Corporate | Other cash restructuring expenses | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Other/ Corporate | Other cash restructuring expenses | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Other/ Corporate | Asset impairments/net loss on disposals | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0
Other/ Corporate | Asset impairments/net loss on disposals | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 1,815	$ 3,705

RESTRUCTURING ACTIVITIES - Liab

RESTRUCTURING ACTIVITIES - Liabilities Recorded For The Restructuring Plan (Details) $ in Thousands	9 Months Ended
	Sep. 26, 2015USD ($)
Restructuring Cost and Reserve [Roll Forward]
Beginning balance	$ 0
Recognized Restructuring Expense	11,184
Costs Paid or Otherwise Settled	(7,165)
Ending balance	4,019
Severance
Restructuring Cost and Reserve [Roll Forward]
Beginning balance	0
Recognized Restructuring Expense	9,280
Costs Paid or Otherwise Settled	(5,501)
Ending balance	3,779
Other cash restructuring expenses
Restructuring Cost and Reserve [Roll Forward]
Beginning balance	0
Recognized Restructuring Expense	1,904
Costs Paid or Otherwise Settled	(1,664)
Ending balance	$ 240

GOODWILL AND INTANGIBLE ASSET46

GOODWILL AND INTANGIBLE ASSETS - Amortized Intangible Assets - (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014	Dec. 27, 2014
Components of amortized intangible assets
Gross Carrying Amount	$ 222,225		$ 222,225		$ 228,027
Accumulated Amortization	114,427		114,427		103,050
Amortization expense for intangible assets	4,507	$ 4,702	14,157	$ 13,439
Estimated amortization expense
2,015	18,154		18,154
2,016	15,944		15,944
2,017	15,898		15,898
2,018	14,261		14,261
2,019	13,434		13,434
Customer Relationships
Components of amortized intangible assets
Gross Carrying Amount	202,199		202,199		207,509
Accumulated Amortization	98,523		$ 98,523		$ 88,538
Weighted Average Life			13 years		13 years
Proprietary Software & Database
Components of amortized intangible assets
Gross Carrying Amount	3,534		$ 3,534		$ 3,769
Accumulated Amortization	2,929		$ 2,929		$ 2,977
Weighted Average Life			8 years		8 years
Patents & Proprietary Technology
Components of amortized intangible assets
Gross Carrying Amount	12,659		$ 12,659		$ 12,394
Accumulated Amortization	9,211		$ 9,211		$ 8,537
Weighted Average Life			8 years		8 years
Other
Components of amortized intangible assets
Gross Carrying Amount	3,833		$ 3,833		$ 4,355
Accumulated Amortization	$ 3,764		$ 3,764		$ 2,998
Weighted Average Life			3 years		3 years

GOODWILL AND INTANGIBLE ASSET47

GOODWILL AND INTANGIBLE ASSETS - Carrying Values of Trade Names - (Details) - USD ($) $ in Thousands	Sep. 26, 2015	Dec. 27, 2014
Webforge
Non-amortized intangible assets
Carrying value of trade names	$ 11,477	$ 16,801
Valmont SM
Non-amortized intangible assets
Carrying value of trade names	9,284	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	8,668	8,867
Donhad
Non-amortized intangible assets
Carrying value of trade names	6,539	6,689
Shakespeare
Non-amortized intangible assets
Carrying value of trade names	4,000	4,000
Industrial Galvanizers
Non-amortized intangible assets
Carrying value of trade names	2,713	3,889
Other
Non-amortized intangible assets
Carrying value of trade names	13,567	14,852
Trade Names
Non-amortized intangible assets
Carrying value of trade names	$ 67,359	$ 77,027

GOODWILL AND INTANGIBLE ASSET48

GOODWILL AND INTANGIBLE ASSETS - Impairment (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 26, 2015	Sep. 26, 2015
EIP | Webforge
Indefinite-lived Intangible Assets [Line Items]
Impairment	$ 5,000
Coatings Segment | Industrial Galvanizers
Indefinite-lived Intangible Assets [Line Items]
Impairment		$ 1,100

GOODWILL AND INTANGIBLE ASSET49

GOODWILL AND INTANGIBLE ASSETS - Carrying Amount of Goodwill by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Jun. 27, 2015	Sep. 26, 2015
Carrying amount of goodwill
Balance at the beginning of the period			$ 385,111
Impairment			(9,100)
Foreign currency translation			(11,591)
Divestiture of business			(1,737)
Balance at the end of the period	$ 362,683		362,683
Engineered Infrastructure Products Segment
Carrying amount of goodwill
Balance at the beginning of the period			197,074
Impairment			0
Foreign currency translation			(8,840)
Divestiture of business		$ (1,737)	(1,737)
Balance at the end of the period	186,497		186,497
Utility Support Structures Segment
Carrying amount of goodwill
Balance at the beginning of the period			75,404
Impairment			0
Foreign currency translation			0
Divestiture of business			0
Balance at the end of the period	75,404		75,404
Coatings Segment
Carrying amount of goodwill
Balance at the beginning of the period			74,862
Impairment	(9,100)		(9,100)
Foreign currency translation			(2,145)
Divestiture of business			0
Balance at the end of the period	63,617		63,617
Irrigation Segment
Carrying amount of goodwill
Balance at the beginning of the period			19,536
Impairment			0
Foreign currency translation			(196)
Divestiture of business			0
Balance at the end of the period	19,340		19,340
Other
Carrying amount of goodwill
Balance at the beginning of the period			18,235
Impairment			0
Foreign currency translation			(410)
Divestiture of business			0
Balance at the end of the period	17,825		17,825
Access Systems
Carrying amount of goodwill
Balance at the end of the period	$ 70,000		$ 70,000

CASH FLOW SUPPLEMENTARY INFOR50

CASH FLOW SUPPLEMENTARY INFORMATION (Details) - USD ($)	May. 13, 2014	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Feb. 24, 2015
Supplemental Cash Flow Elements [Abstract]
Increased dividend (as a percent)	50.00%
Maximum amount of common stock authorized to repurchase under share repurchase program	$ 500,000,000				$ 250,000,000
Period over which common stock are authorized to repurchase under share repurchase program	12 months
Shares acquired under share repurchase program		3,947,920		3,947,920
Value of shares acquired under share repurchase program		$ 148,220,000	$ 316,296,000	$ 543,300,000
Supplemental Cash Flow Information [Abstract]
Interest		23,447,000	23,199,000
Income taxes		$ 21,517,000	$ 94,493,000

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Basic EPS
Net earnings attributable to Valmont Industries, Inc.	$ 12,066,000	$ 23,559,000	$ 70,678,000	$ 143,515,000
Shares outstanding basic (in shares)	23,057,000	25,287,000	23,420,000	26,208,000
Per share amount basic (in dollars per share)	$ 0.52	$ 0.93	$ 3.02	$ 5.48
Dilutive Effect of Stock Options
Dilutive Effect of Stock Options	$ 0	$ 0	$ 0	$ 0
Dilutive effect of stock options number of shares (in shares)	113,000	226,000	114,000	231,000
Dilutive effect of stock options (in dollars per share)	$ 0	$ (0.01)	$ (0.02)	$ (0.05)
Diluted EPS
Diluted EPS	$ 12,066,000	$ 23,559,000	$ 70,678,000	$ 143,515,000
Shares outstanding dilutive (in shares)	23,170,000	25,513,000	23,534,000	26,439,000
Per share amount diluted (in dollars per share)	$ 0.52	$ 0.92	$ 3	$ 5.43
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)			433,401	273,170

BUSINESS SEGMENTS (Details)

BUSINESS SEGMENTS (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2015USD ($)	Sep. 27, 2014USD ($)	Sep. 26, 2015USD ($)segment	Sep. 27, 2014USD ($)
Business Segments
Number of reportable segments | segment			4
Maximum percentage of sales of other businesses and activities to consolidated sales as basis for aggregation			10.00%
Net sales	$ 632,575	$ 765,668	$ 1,985,096	$ 2,360,007
Operating income	37,012	87,803	148,695	291,427
Operating Segment
Business Segments
Sales	655,243	797,945	2,056,988	2,478,882
Net sales	632,575	765,668	1,985,096	2,360,007
Operating income	37,012	87,803	148,695	291,427
Operating Segment | Engineered Infrastructure Products Segment
Business Segments
Sales	259,869	294,899	759,331	827,713
Net sales	252,938	284,203	741,274	779,286
Operating income	14,154	33,200	43,560	75,534
Operating Segment | Engineered Infrastructure Products Segment | Lighting, Traffic, and Roadway Products
Business Segments
Sales	147,425	158,977	447,380	462,707
Operating Segment | Engineered Infrastructure Products Segment | Communication Products
Business Segments
Sales	51,940	45,952	130,431	119,456
Operating Segment | Engineered Infrastructure Products Segment | Offshore Structures
Business Segments
Sales	26,813	41,284	74,796	105,805
Operating Segment | Engineered Infrastructure Products Segment | Access Systems
Business Segments
Sales	33,691	48,686	106,724	139,745
Operating Segment | Utility Support Structures Segment
Business Segments
Sales	164,684	181,185	503,954	608,942
Net sales	164,397	180,559	503,105	606,796
Operating income	14,505	16,975	40,261	76,107
Operating Segment | Utility Support Structures Segment | Steel
Business Segments
Sales	135,997	156,112	433,695	527,123
Operating Segment | Utility Support Structures Segment | Concrete
Business Segments
Sales	28,687	25,073	70,259	81,819
Operating Segment | Coatings Segment
Business Segments
Sales	76,200	86,735	226,654	254,063
Net sales	64,772	73,569	190,501	211,174
Operating income	3,145	17,554	22,006	47,260
Operating Segment | Irrigation Segment
Business Segments
Sales	112,205	174,288	420,502	606,938
Net sales	112,199	174,287	420,484	606,924
Operating income	10,539	26,888	60,655	111,507
Operating Segment | Other
Business Segments
Sales	42,285	60,838	146,547	181,226
Net sales	38,269	53,050	129,732	155,827
Operating income	3,886	6,211	16,757	23,104
Operating Segment | Corporate
Business Segments
Operating income	(9,217)	(13,025)	(34,544)	(42,085)
Intersegment
Business Segments
Sales	22,668	32,277	71,892	118,875
Intersegment | Engineered Infrastructure Products Segment
Business Segments
Sales	6,931	10,696	18,057	48,427
Intersegment | Utility Support Structures Segment
Business Segments
Sales	287	626	849	2,146
Intersegment | Coatings Segment
Business Segments
Sales	11,428	13,166	36,153	42,889
Intersegment | Irrigation Segment
Business Segments
Sales	6	1	18	14
Intersegment | Other
Business Segments
Sales	$ 4,016	$ 7,788	$ 16,815	$ 25,399

GUARANTOR_NON-GUARANTOR FINAN53

GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION - Condensed Consolidated Statements of Earnings (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 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	$ 632,575	$ 765,668	$ 1,985,096	$ 2,360,007
Cost of sales	475,824	566,168	1,493,343	1,733,048
Gross profit	156,751	199,500	491,753	626,959
Selling, general and administrative expenses	104,539	111,697	327,858	335,532
Impairment of goodwill and intangible assets	15,200	0	15,200	0
Operating income	37,012	87,803	148,695	291,427
Other income (expense):
Interest expense	(11,120)	(8,716)	(33,480)	(25,217)
Interest income	905	1,477	2,395	4,793
Costs associated with refinancing of debt	0	(38,705)	0	(38,705)
Other	(1,230)	(2,344)	(242)	(6,253)
Total other income (expenses)	(11,445)	(48,288)	(31,327)	(65,382)
Earnings before income taxes	25,567	39,515	117,368	226,045
Income tax expense (benefit):
Current	6,746	23,290	37,656	82,345
Deferred income taxes	5,272	(9,064)	5,217	(4,034)
Total income tax expense (benefit)	12,018	14,226	42,873	78,311
Earnings before equity in earnings of nonconsolidated subsidiaries	13,549	25,289	74,495	147,734
Equity in earnings of nonconsolidated subsidiaries	0	(4)	0	(34)
Net earnings	13,549	25,285	74,495	147,700
Less: Earnings attributable to noncontrolling interests	(1,483)	(1,726)	(3,817)	(4,185)
Net earnings attributable to Valmont Industries, Inc.	12,066	23,559	70,678	143,515
Parent
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net sales	249,121	313,775	889,408	1,069,059
Cost of sales	191,143	234,085	673,789	785,898
Gross profit	57,978	79,690	215,619	283,161
Selling, general and administrative expenses	44,432	48,560	143,387	146,514
Impairment of goodwill and intangible assets	0		0
Operating income	13,546	31,130	72,232	136,647
Other income (expense):
Interest expense	(10,822)	(8,061)	(32,548)	(23,427)
Interest income	(9)	2	4	28
Costs associated with refinancing of debt		(38,705)		(38,705)
Other	(2,123)	(196)	(3,020)	1,625
Total other income (expenses)	(12,954)	(46,960)	(35,564)	(60,479)
Earnings before income taxes	592	(15,830)	36,668	76,168
Income tax expense (benefit):
Current	(9,059)	9,296	(122)	38,489
Deferred income taxes	7,909	(12,430)	11,728	(6,601)
Total income tax expense (benefit)	(1,150)	(3,134)	11,606	31,888
Earnings before equity in earnings of nonconsolidated subsidiaries	1,742	(12,696)	25,062	44,280
Equity in earnings of nonconsolidated subsidiaries	10,324	36,255	45,616	99,235
Net earnings	12,066	23,559	70,678	143,515
Less: Earnings attributable to noncontrolling interests	0	0	0	0
Net earnings attributable to Valmont Industries, Inc.	12,066	23,559	70,678	143,515
Guarantors
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net sales	114,766	120,016	312,804	380,327
Cost of sales	82,848	92,091	235,893	283,443
Gross profit	31,918	27,925	76,911	96,884
Selling, general and administrative expenses	11,154	12,145	33,542	37,806
Impairment of goodwill and intangible assets	0		0
Operating income	20,764	15,780	43,369	59,078
Other income (expense):
Interest expense	0	0	0	0
Interest income	2	60	6	356
Costs associated with refinancing of debt		0		0
Other	31	(149)	31	(501)
Total other income (expenses)	33	(89)	37	(145)
Earnings before income taxes	20,797	15,691	43,406	58,933
Income tax expense (benefit):
Current	8,423	6,206	18,273	19,718
Deferred income taxes	(478)	(342)	(1,062)	1,325
Total income tax expense (benefit)	7,945	5,864	17,211	21,043
Earnings before equity in earnings of nonconsolidated subsidiaries	12,852	9,827	26,195	37,890
Equity in earnings of nonconsolidated subsidiaries	1,254	8,446	6,435	17,469
Net earnings	14,106	18,273	32,630	55,359
Less: Earnings attributable to noncontrolling interests	0	0	0	0
Net earnings attributable to Valmont Industries, Inc.	14,106	18,273	32,630	55,359
Non- Guarantors
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net sales	321,726	384,564	946,517	1,072,560
Cost of sales	255,424	292,722	747,075	826,120
Gross profit	66,302	91,842	199,442	246,440
Selling, general and administrative expenses	48,953	50,992	150,929	151,212
Impairment of goodwill and intangible assets	15,200		15,200
Operating income	2,149	40,850	33,313	95,228
Other income (expense):
Interest expense	(298)	(655)	(932)	(1,790)
Interest income	912	1,415	2,385	4,409
Costs associated with refinancing of debt		0		0
Other	862	(1,999)	2,747	(7,377)
Total other income (expenses)	1,476	(1,239)	4,200	(4,758)
Earnings before income taxes	3,625	39,611	37,513	90,470
Income tax expense (benefit):
Current	7,226	7,791	19,570	24,009
Deferred income taxes	(2,159)	3,708	(5,449)	1,242
Total income tax expense (benefit)	5,067	11,499	14,121	25,251
Earnings before equity in earnings of nonconsolidated subsidiaries	(1,442)	28,112	23,392	65,219
Equity in earnings of nonconsolidated subsidiaries	0	0	0	0
Net earnings	(1,442)	28,112	23,392	65,219
Less: Earnings attributable to noncontrolling interests	(1,483)	(1,726)	(3,817)	(4,185)
Net earnings attributable to Valmont Industries, Inc.	(2,925)	26,386	19,575	61,034
Eliminations
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net sales	(53,038)	(52,687)	(163,633)	(161,939)
Cost of sales	(53,591)	(52,730)	(163,414)	(162,413)
Gross profit	553	43	(219)	474
Selling, general and administrative expenses	0	0	0	0
Impairment of goodwill and intangible assets	0		0
Operating income	553	43	(219)	474
Other income (expense):
Interest expense	0	0	0	0
Interest income	0	0	0	0
Costs associated with refinancing of debt		0		0
Other	0	0	0	0
Total other income (expenses)	0	0	0	0
Earnings before income taxes	553	43	(219)	474
Income tax expense (benefit):
Current	156	(3)	(65)	129
Deferred income taxes	0	0	0	0
Total income tax expense (benefit)	156	(3)	(65)	129
Earnings before equity in earnings of nonconsolidated subsidiaries	397	46	(154)	345
Equity in earnings of nonconsolidated subsidiaries	(11,578)	(44,705)	(52,051)	(116,738)
Net earnings	(11,181)	(44,659)	(52,205)	(116,393)
Less: Earnings attributable to noncontrolling interests	0	0	0	0
Net earnings attributable to Valmont Industries, Inc.	$ (11,181)	$ (44,659)	$ (52,205)	$ (116,393)

GUARANTOR_NON-GUARANTOR FINAN54

GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION - Condensed Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net earnings	$ 13,549	$ 25,285	$ 74,495	$ 147,700
Foreign currency translation adjustments:
Unrealized translation gain (loss)	(53,518)	(59,001)	(93,368)	(33,495)
Unrealized gain/(loss) on cash flow hedge:
Amortization cost included in interest expense	18	383	55	450
Realized (gain) loss included in net earnings during the period	(439)	983	(439)	983
Gain on cash flow hedges	110	4,837	1,155	4,837
Actuarial gain (loss) in defined benefit pension plan liability	0	1,116	0	269
Equity in other comprehensive income	0	0	0	0
Other comprehensive income (loss)	(53,829)	(51,682)	(92,597)	(26,956)
Comprehensive income (loss)	(40,280)	(26,397)	(18,102)	120,744
Comprehensive loss (income) attributable to noncontrolling interests	847	89	206	(1,615)
Comprehensive income (loss) attributable to Valmont Industries, Inc.	(39,433)	(26,308)	(17,896)	119,129
Parent
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net earnings	12,066	23,559	70,678	143,515
Foreign currency translation adjustments:
Unrealized translation gain (loss)	0	0	0	0
Unrealized gain/(loss) on cash flow hedge:
Amortization cost included in interest expense	18	100	55	300
Realized (gain) loss included in net earnings during the period	0	983	0	983
Gain on cash flow hedges	(33)	4,837	(242)	4,837
Actuarial gain (loss) in defined benefit pension plan liability		0		0
Equity in other comprehensive income	(51,484)	(55,787)	(88,387)	(30,506)
Other comprehensive income (loss)	(51,499)	(49,867)	(88,574)	(24,386)
Comprehensive income (loss)	(39,433)	(26,308)	(17,896)	119,129
Comprehensive loss (income) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to Valmont Industries, Inc.	(39,433)	(26,308)	(17,896)	119,129
Guarantors
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net earnings	14,106	18,273	32,630	55,359
Foreign currency translation adjustments:
Unrealized translation gain (loss)	(6,168)	(53,168)	(14,980)	(52,105)
Unrealized gain/(loss) on cash flow hedge:
Amortization cost included in interest expense	0	0	0	0
Realized (gain) loss included in net earnings during the period	0	0	0	0
Gain on cash flow hedges	0	0	0	0
Actuarial gain (loss) in defined benefit pension plan liability		0		0
Equity in other comprehensive income	0	0	0	0
Other comprehensive income (loss)	(6,168)	(53,168)	(14,980)	(52,105)
Comprehensive income (loss)	7,938	(34,895)	17,650	3,254
Comprehensive loss (income) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to Valmont Industries, Inc.	7,938	(34,895)	17,650	3,254
Non- Guarantors
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net earnings	(1,442)	28,112	23,392	65,219
Foreign currency translation adjustments:
Unrealized translation gain (loss)	(47,350)	(5,833)	(78,388)	18,610
Unrealized gain/(loss) on cash flow hedge:
Amortization cost included in interest expense	0	283	0	150
Realized (gain) loss included in net earnings during the period	(439)	0	(439)	0
Gain on cash flow hedges	143	0	1,397	0
Actuarial gain (loss) in defined benefit pension plan liability		1,116		269
Equity in other comprehensive income	0	0	0	0
Other comprehensive income (loss)	(47,646)	(4,434)	(77,430)	19,029
Comprehensive income (loss)	(49,088)	23,678	(54,038)	84,248
Comprehensive loss (income) attributable to noncontrolling interests	847	89	206	(1,615)
Comprehensive income (loss) attributable to Valmont Industries, Inc.	(48,241)	23,767	(53,832)	82,633
Eliminations
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries
Net earnings	(11,181)	(44,659)	(52,205)	(116,393)
Foreign currency translation adjustments:
Unrealized translation gain (loss)	0	0	0	0
Unrealized gain/(loss) on cash flow hedge:
Amortization cost included in interest expense	0	0	0	0
Realized (gain) loss included in net earnings during the period	0	0	0	0
Gain on cash flow hedges	0	0	0	0
Actuarial gain (loss) in defined benefit pension plan liability		0		0
Equity in other comprehensive income	51,484	55,787	88,387	30,506
Other comprehensive income (loss)	51,484	55,787	88,387	30,506
Comprehensive income (loss)	40,303	11,128	36,182	(85,887)
Comprehensive loss (income) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to Valmont Industries, Inc.	$ 40,303	$ 11,128	$ 36,182	$ (85,887)

GUARANTOR_NON-GUARANTOR FINAN55

GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION - Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 26, 2015	Dec. 27, 2014	Sep. 27, 2014	Dec. 28, 2013
Current assets:
Cash and cash equivalents	$ 312,851	$ 371,579	$ 452,218	$ 613,706
Receivables, net	501,403	536,918
Inventories	368,290	359,522
Prepaid expenses	52,208	56,912
Refundable and deferred income taxes	44,736	68,010
Total current assets	1,279,488	1,392,941
Property, plant and equipment, at cost	1,083,211	1,139,569
Less accumulated depreciation and amortization	539,976	533,116
Net property, plant and equipment	543,235	606,453
Goodwill	362,683	385,111
Other intangible assets	175,157	202,004
Investment in subsidiaries and intercompany accounts	0	0
Other assets	129,138	143,159
Total assets	2,489,701	2,729,668
Current liabilities:
Current installments of long-term debt	1,099	1,181
Notes payable to banks	1,496	13,952
Accounts payable	186,581	196,565
Accrued employee compensation and benefits	70,249	87,950
Accrued expenses	104,779	88,480
Dividends payable	8,649	9,086
Total current liabilities	(372,853)	(397,214)
Deferred income taxes	66,200	71,797
Long-term debt, excluding current installments	764,823	766,654
Defined benefit pension liability	129,600	150,124
Deferred compensation	48,637	47,932
Other noncurrent liabilities	41,811	45,542
Shareholders’ equity:
Common stock of $1 par value	27,900	27,900
Additional paid-in capital	0	0
Retained earnings	1,767,621	1,718,662
Accumulated other comprehensive income (loss)	(223,007)	(134,433)
Treasury stock	(552,780)	(410,296)
Total Valmont Industries, Inc. shareholders’ equity	1,019,734	1,201,833
Noncontrolling interest in consolidated subsidiaries	46,043	48,572
Total shareholders’ equity	1,065,777	1,250,405	1,358,686	1,544,846
Total liabilities and shareholders’ equity	2,489,701	2,729,668
Parent
Current assets:
Cash and cash equivalents	21,227	69,869	153,921	215,576
Receivables, net	137,255	158,316
Inventories	144,751	127,859
Prepaid expenses	11,397	7,087
Refundable and deferred income taxes	30,001	53,307
Total current assets	344,631	416,438
Property, plant and equipment, at cost	544,933	556,658
Less accumulated depreciation and amortization	330,102	319,899
Net property, plant and equipment	214,831	236,759
Goodwill	20,108	20,108
Other intangible assets	252	292
Investment in subsidiaries and intercompany accounts	1,356,897	1,446,989
Other assets	47,404	46,587
Total assets	1,984,123	2,167,173
Current liabilities:
Current installments of long-term debt	215	213
Notes payable to banks	0	0
Accounts payable	64,931	59,893
Accrued employee compensation and benefits	30,576	48,169
Accrued expenses	44,031	32,616
Dividends payable	8,649	9,086
Total current liabilities	(148,402)	(149,977)
Deferred income taxes	8,220	5,584
Long-term debt, excluding current installments	759,033	759,895
Defined benefit pension liability	0	0
Deferred compensation	43,485	41,803
Other noncurrent liabilities	5,249	8,081
Shareholders’ equity:
Common stock of $1 par value	27,900	27,900
Additional paid-in capital	0	0
Retained earnings	1,767,621	1,718,662
Accumulated other comprehensive income (loss)	(223,007)	(134,433)
Treasury stock	(552,780)	(410,296)
Total Valmont Industries, Inc. shareholders’ equity	1,019,734	1,201,833
Noncontrolling interest in consolidated subsidiaries	0	0
Total shareholders’ equity	1,019,734	1,201,833
Total liabilities and shareholders’ equity	1,984,123	2,167,173
Guarantors
Current assets:
Cash and cash equivalents	1,641	2,157	1,659	29,797
Receivables, net	68,885	68,414
Inventories	46,820	54,914
Prepaid expenses	612	502
Refundable and deferred income taxes	6,262	6,194
Total current assets	124,220	132,181
Property, plant and equipment, at cost	127,761	124,182
Less accumulated depreciation and amortization	69,069	65,493
Net property, plant and equipment	58,692	58,689
Goodwill	107,542	107,542
Other intangible assets	40,031	43,644
Investment in subsidiaries and intercompany accounts	848,126	825,236
Other assets	16	0
Total assets	1,178,627	1,167,292
Current liabilities:
Current installments of long-term debt	0	0
Notes payable to banks	0	0
Accounts payable	14,213	15,151
Accrued employee compensation and benefits	5,151	5,385
Accrued expenses	6,145	6,052
Dividends payable	0	0
Total current liabilities	(25,509)	(26,588)
Deferred income taxes	27,994	28,988
Long-term debt, excluding current installments	0	0
Defined benefit pension liability	0	0
Deferred compensation	0	0
Other noncurrent liabilities	0	0
Shareholders’ equity:
Common stock of $1 par value	457,950	457,950
Additional paid-in capital	159,414	150,286
Retained earnings	571,936	552,676
Accumulated other comprehensive income (loss)	(64,176)	(49,196)
Treasury stock	0	0
Total Valmont Industries, Inc. shareholders’ equity	1,125,124	1,111,716
Noncontrolling interest in consolidated subsidiaries	0	0
Total shareholders’ equity	1,125,124	1,111,716
Total liabilities and shareholders’ equity	1,178,627	1,167,292
Non- Guarantors
Current assets:
Cash and cash equivalents	289,983	299,553	296,638	368,333
Receivables, net	295,263	310,188
Inventories	179,894	177,512
Prepaid expenses	40,199	49,323
Refundable and deferred income taxes	8,473	8,509
Total current assets	813,812	845,085
Property, plant and equipment, at cost	410,517	458,729
Less accumulated depreciation and amortization	140,805	147,724
Net property, plant and equipment	269,712	311,005
Goodwill	235,033	257,461
Other intangible assets	134,874	158,068
Investment in subsidiaries and intercompany accounts	921,673	887,055
Other assets	81,718	96,572
Total assets	2,456,822	2,555,246
Current liabilities:
Current installments of long-term debt	884	968
Notes payable to banks	1,496	13,952
Accounts payable	107,437	121,521
Accrued employee compensation and benefits	34,522	34,396
Accrued expenses	54,603	49,812
Dividends payable	0	0
Total current liabilities	(198,942)	(220,649)
Deferred income taxes	29,986	37,225
Long-term debt, excluding current installments	5,790	6,759
Defined benefit pension liability	129,600	150,124
Deferred compensation	5,152	6,129
Other noncurrent liabilities	36,562	37,461
Shareholders’ equity:
Common stock of $1 par value	648,682	648,682
Additional paid-in capital	1,107,536	1,098,408
Retained earnings	416,341	397,302
Accumulated other comprehensive income (loss)	(167,812)	(96,065)
Treasury stock	0	0
Total Valmont Industries, Inc. shareholders’ equity	2,004,747	2,048,327
Noncontrolling interest in consolidated subsidiaries	46,043	48,572
Total shareholders’ equity	2,050,790	2,096,899
Total liabilities and shareholders’ equity	2,456,822	2,555,246
Eliminations
Current assets:
Cash and cash equivalents	0	0	$ 0	$ 0
Receivables, net	0	0
Inventories	(3,175)	(763)
Prepaid expenses	0	0
Refundable and deferred income taxes	0	0
Total current assets	(3,175)	(763)
Property, plant and equipment, at cost	0	0
Less accumulated depreciation and amortization	0	0
Net property, plant and equipment	0	0
Goodwill	0	0
Other intangible assets	0	0
Investment in subsidiaries and intercompany accounts	(3,126,696)	(3,159,280)
Other assets	0	0
Total assets	(3,129,871)	(3,160,043)
Current liabilities:
Current installments of long-term debt	0	0
Notes payable to banks	0	0
Accounts payable	0	0
Accrued employee compensation and benefits	0	0
Accrued expenses	0	0
Dividends payable	0	0
Total current liabilities	0	0
Deferred income taxes	0	0
Long-term debt, excluding current installments	0	0
Defined benefit pension liability	0	0
Deferred compensation	0	0
Other noncurrent liabilities	0	0
Shareholders’ equity:
Common stock of $1 par value	(1,106,632)	(1,106,632)
Additional paid-in capital	(1,266,950)	(1,248,694)
Retained earnings	(988,277)	(949,978)
Accumulated other comprehensive income (loss)	231,988	145,261
Treasury stock	0	0
Total Valmont Industries, Inc. shareholders’ equity	(3,129,871)	(3,160,043)
Noncontrolling interest in consolidated subsidiaries	0	0
Total shareholders’ equity	(3,129,871)	(3,160,043)
Total liabilities and shareholders’ equity	$ (3,129,871)	$ (3,160,043)

GUARANTOR_NON-GUARANTOR FINAN56

GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION - Condensed Consolidated Balance Sheets - Additional Information (Details) - $ / shares	Sep. 26, 2015	Dec. 27, 2014
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1	$ 1

GUARANTOR_NON-GUARANTOR FINAN57

GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION - Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		16 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015
Cash flows from operating activities:
Net earnings	$ 13,549	$ 25,285	$ 74,495	$ 147,700
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and amortization			70,859	64,460
Noncash loss on trading securities			5,020	4,859
Non-cash debt refinancing costs			0	(2,478)
Impairment of assets - restructuring activities			12,659	0
Impairment of Goodwill & Intangibles			15,200	0
Stock-based compensation			5,667	5,444
Change in fair value of contingent consideration			0	4,300
Defined benefit pension plan expense			(460)	2,003
Contribution to defined benefit pension plan			(15,735)	(18,245)
Gain on sale of property, plant and equipment			1,263	58
Equity in earnings in nonconsolidated subsidiaries	0	4	0	34
Deferred income taxes	5,272	(9,064)	5,217	(4,034)
Changes in assets and liabilities (net of acquisitions):
Receivables			5,551	(19,951)
Inventories			(25,447)	(4,152)
Prepaid expenses			5,275	(19,182)
Accounts payable			832	(21,082)
Accrued expenses			7,368	(27,926)
Other noncurrent liabilities			887	(6,409)
Income taxes payable (refundable)			14,171	(22,702)
Net cash flows from operating activities			182,822	82,697
Cash flows from investing activities:
Purchase of property, plant and equipment			(34,447)	(63,412)
Proceeds from sale of assets			3,256	2,107
Acquisitions, net of cash acquired			0	(137,438)
Other, net			5,980	2,992
Net cash flows from investing activities			(25,211)	(195,751)
Cash flows from financing activities:
Net borrowings under short-term agreements			(12,322)	(1,065)
Proceeds from long-term borrowings			37,000	652,540
Principal payments on long-term borrowings			(37,878)	(357,059)
Settlement of financial derivative			0	4,837
Dividends paid			(26,708)	(23,357)
Intercompany dividends				0
Dividends to noncontrolling interest			(2,323)	(1,340)
Debt issuance costs			0	(5,464)
Intercompany capital contribution				0
Proceeds from exercises under stock plans			10,902	12,824
Excess tax benefits from stock option exercises			1,458	3,916
Purchase of treasury shares			(148,220)	(316,296)	$ (543,300)
Purchase of common treasury shares - stock plan exercises			(12,135)	(12,739)
Net cash flows from financing activities			(190,226)	(43,203)
Effect of exchange rate changes on cash and cash equivalents			(26,113)	(5,231)
Net change in cash and cash equivalents			(58,728)	(161,488)
Cash and cash equivalents—beginning of year			371,579	613,706
Cash and cash equivalents—end of period	312,851	452,218	312,851	452,218	312,851
Parent
Cash flows from operating activities:
Net earnings	12,066	23,559	70,678	143,515
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and amortization			22,373	17,094
Noncash loss on trading securities			0	0
Non-cash debt refinancing costs				(2,478)
Impairment of assets - restructuring activities			4,092
Impairment of Goodwill & Intangibles			0
Stock-based compensation			9,620	5,444
Change in fair value of contingent consideration				0
Defined benefit pension plan expense			0	0
Contribution to defined benefit pension plan			0	0
Gain on sale of property, plant and equipment			333	37
Equity in earnings in nonconsolidated subsidiaries	(10,324)	(36,255)	(45,616)	(99,235)
Deferred income taxes	7,909	(12,430)	11,728	(6,601)
Changes in assets and liabilities (net of acquisitions):
Receivables			21,061	(18,901)
Inventories			(16,893)	2,914
Prepaid expenses			840	(2,213)
Accounts payable			5,038	(2,788)
Accrued expenses			(5,758)	(18,654)
Other noncurrent liabilities			(2,716)	2,061
Income taxes payable (refundable)			14,216	(16,149)
Net cash flows from operating activities			88,996	4,046
Cash flows from investing activities:
Purchase of property, plant and equipment			(9,547)	(35,925)
Proceeds from sale of assets			1,508	8
Acquisitions, net of cash acquired				0
Other, net			45,326	36,954
Net cash flows from investing activities			37,287	1,037
Cash flows from financing activities:
Net borrowings under short-term agreements			0	0
Proceeds from long-term borrowings			37,000	652,540
Principal payments on long-term borrowings			(37,222)	(356,994)
Settlement of financial derivative				4,837
Dividends paid			(26,708)	(23,357)
Intercompany dividends				116,995
Dividends to noncontrolling interest			0	0
Debt issuance costs				(5,464)
Intercompany capital contribution				(143,000)
Proceeds from exercises under stock plans			10,902	12,824
Excess tax benefits from stock option exercises			1,458	3,916
Purchase of treasury shares			(148,220)	(316,296)
Purchase of common treasury shares - stock plan exercises			(12,135)	(12,739)
Net cash flows from financing activities			(174,925)	(66,738)
Effect of exchange rate changes on cash and cash equivalents			0	0
Net change in cash and cash equivalents			(48,642)	(61,655)
Cash and cash equivalents—beginning of year			69,869	215,576
Cash and cash equivalents—end of period	21,227	153,921	21,227	153,921	21,227
Guarantors
Cash flows from operating activities:
Net earnings	14,106	18,273	32,630	55,359
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and amortization			9,372	9,804
Noncash loss on trading securities			0	0
Non-cash debt refinancing costs				0
Impairment of assets - restructuring activities			258
Impairment of Goodwill & Intangibles			0
Stock-based compensation			0	0
Change in fair value of contingent consideration				0
Defined benefit pension plan expense			0	0
Contribution to defined benefit pension plan			0	0
Gain on sale of property, plant and equipment			267	(30)
Equity in earnings in nonconsolidated subsidiaries	(1,254)	(8,446)	(6,435)	(17,469)
Deferred income taxes	(478)	(342)	(1,062)	1,325
Changes in assets and liabilities (net of acquisitions):
Receivables			(471)	29,838
Inventories			8,094	5,036
Prepaid expenses			(110)	173
Accounts payable			(938)	(3,643)
Accrued expenses			(140)	(9,296)
Other noncurrent liabilities			0	0
Income taxes payable (refundable)			(14)	(225)
Net cash flows from operating activities			41,451	70,872
Cash flows from investing activities:
Purchase of property, plant and equipment			(6,065)	(1,972)
Proceeds from sale of assets			36	127
Acquisitions, net of cash acquired				0
Other, net			(35,859)	(53,129)
Net cash flows from investing activities			(41,888)	(54,974)
Cash flows from financing activities:
Net borrowings under short-term agreements			0	0
Proceeds from long-term borrowings			0	0
Principal payments on long-term borrowings			0	0
Settlement of financial derivative				0
Dividends paid			0	0
Intercompany dividends				(44,000)
Dividends to noncontrolling interest			0	0
Debt issuance costs				0
Intercompany capital contribution				0
Proceeds from exercises under stock plans			0	0
Excess tax benefits from stock option exercises			0	0
Purchase of treasury shares			0	0
Purchase of common treasury shares - stock plan exercises			0	0
Net cash flows from financing activities			0	(44,000)
Effect of exchange rate changes on cash and cash equivalents			(79)	(36)
Net change in cash and cash equivalents			(516)	(28,138)
Cash and cash equivalents—beginning of year			2,157	29,797
Cash and cash equivalents—end of period	1,641	1,659	1,641	1,659	1,641
Non- Guarantors
Cash flows from operating activities:
Net earnings	(1,442)	28,112	23,392	65,219
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and amortization			39,114	37,562
Noncash loss on trading securities			5,020	4,859
Non-cash debt refinancing costs				0
Impairment of assets - restructuring activities			8,309
Impairment of Goodwill & Intangibles			15,200
Stock-based compensation			(3,953)	0
Change in fair value of contingent consideration				4,300
Defined benefit pension plan expense			(460)	2,003
Contribution to defined benefit pension plan			(15,735)	(18,245)
Gain on sale of property, plant and equipment			663	51
Equity in earnings in nonconsolidated subsidiaries	0	0	0	0
Deferred income taxes	(2,159)	3,708	(5,449)	1,242
Changes in assets and liabilities (net of acquisitions):
Receivables			(15,039)	(30,888)
Inventories			(16,648)	(12,102)
Prepaid expenses			4,545	(17,142)
Accounts payable			(3,268)	(14,651)
Accrued expenses			13,266	24
Other noncurrent liabilities			3,603	(8,470)
Income taxes payable (refundable)			(31)	(6,328)
Net cash flows from operating activities			52,529	7,434
Cash flows from investing activities:
Purchase of property, plant and equipment			(18,835)	(25,515)
Proceeds from sale of assets			1,712	1,972
Acquisitions, net of cash acquired				(137,438)
Other, net			(3,641)	19,512
Net cash flows from investing activities			(20,764)	(141,469)
Cash flows from financing activities:
Net borrowings under short-term agreements			(12,322)	(1,065)
Proceeds from long-term borrowings			0	0
Principal payments on long-term borrowings			(656)	(65)
Settlement of financial derivative				0
Dividends paid			0	0
Intercompany dividends				(72,995)
Dividends to noncontrolling interest			(2,323)	(1,340)
Debt issuance costs				0
Intercompany capital contribution				143,000
Proceeds from exercises under stock plans			0	0
Excess tax benefits from stock option exercises			0	0
Purchase of treasury shares			0	0
Purchase of common treasury shares - stock plan exercises			0	0
Net cash flows from financing activities			(15,301)	67,535
Effect of exchange rate changes on cash and cash equivalents			(26,034)	(5,195)
Net change in cash and cash equivalents			(9,570)	(71,695)
Cash and cash equivalents—beginning of year			299,553	368,333
Cash and cash equivalents—end of period	289,983	296,638	289,983	296,638	289,983
Eliminations
Cash flows from operating activities:
Net earnings	(11,181)	(44,659)	(52,205)	(116,393)
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and amortization			0	0
Noncash loss on trading securities			0	0
Non-cash debt refinancing costs				0
Impairment of assets - restructuring activities			0
Impairment of Goodwill & Intangibles			0
Stock-based compensation			0	0
Change in fair value of contingent consideration				0
Defined benefit pension plan expense			0	0
Contribution to defined benefit pension plan			0	0
Gain on sale of property, plant and equipment			0	0
Equity in earnings in nonconsolidated subsidiaries	11,578	44,705	52,051	116,738
Deferred income taxes	0	0	0	0
Changes in assets and liabilities (net of acquisitions):
Receivables			0	0
Inventories			0	0
Prepaid expenses			0	0
Accounts payable			0	0
Accrued expenses			0	0
Other noncurrent liabilities			0	0
Income taxes payable (refundable)			0	0
Net cash flows from operating activities			(154)	345
Cash flows from investing activities:
Purchase of property, plant and equipment			0	0
Proceeds from sale of assets			0	0
Acquisitions, net of cash acquired				0
Other, net			154	(345)
Net cash flows from investing activities			154	(345)
Cash flows from financing activities:
Net borrowings under short-term agreements			0	0
Proceeds from long-term borrowings			0	0
Principal payments on long-term borrowings			0	0
Settlement of financial derivative				0
Dividends paid			0	0
Intercompany dividends				0
Dividends to noncontrolling interest			0	0
Debt issuance costs				0
Intercompany capital contribution				0
Proceeds from exercises under stock plans			0	0
Excess tax benefits from stock option exercises			0	0
Purchase of treasury shares			0	0
Purchase of common treasury shares - stock plan exercises			0	0
Net cash flows from financing activities			0	0
Effect of exchange rate changes on cash and cash equivalents			0	0
Net change in cash and cash equivalents			0	0
Cash and cash equivalents—beginning of year			0	0
Cash and cash equivalents—end of period	$ 0	$ 0	$ 0	$ 0	$ 0