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GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Details 2) (USD $) In Thousands, unless otherwise specified | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 29, 2013 | Jun. 30, 2012 | Jun. 29, 2013 | Jun. 30, 2012
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries |  |  |  |
Net sales | $ 878,659 | $ 767,315 | $ 1,698,289 | $ 1,484,665
Cost of sales | 617,188 | 567,920 | 1,201,449 | 1,098,956
Gross profit | 261,471 | 199,395 | 496,840 | 385,709
Selling, general and administrative expenses | 117,206 | 102,043 | 234,385 | 205,539
Operating income | 144,265 | 97,352 | 262,455 | 180,170
Other income (expense): |  |  |  |
Interest expense | (8,025) | (7,421) | (16,215) | (15,228)
Interest income | 1,852 | 1,910 | 3,205 | 3,988
Other | 123 | (1,977) | 1,679 | (400)
Total other income (expenses) | (6,050) | (7,488) | (11,331) | (11,640)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries | 138,215 | 89,864 | 251,124 | 168,530
Income tax expense (benefit): |  |  |  |
Current | 48,210 | 35,985 | 86,870 | 63,014
Deferred | (1,042) | (5,193) | (4,729) | (4,456)
Total income tax expense (benefit) | 47,168 | 30,792 | 82,141 | 58,558
Earnings before equity in earnings of nonconsolidated subsidiaries | 91,047 | 59,072 | 168,983 | 109,972
Equity in earnings of nonconsolidated subsidiaries | 269 | 2,087 | 473 | 3,775
Net earnings | 91,316 | 61,159 | 169,456 | 113,747
Less: Earnings attributable to noncontrolling interests | (1,753) | (1,179) | (2,324) | (1,442)
Net earnings attributable to Valmont Industries, Inc. | 89,563 | 59,980 | 167,132 | 112,305
Parent |  |  |  |
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries |  |  |  |
Net sales | 426,817 | 347,643 | 843,430 | 712,483
Cost of sales | 297,949 | 249,557 | 598,629 | 517,069
Gross profit | 128,868 | 98,086 | 244,801 | 195,414
Selling, general and administrative expenses | 55,720 | 43,762 | 105,746 | 87,034
Operating income | 73,148 | 54,324 | 139,055 | 108,380
Other income (expense): |  |  |  |
Interest expense | (7,636) | (7,573) | (15,391) | (15,255)
Interest income | 8 | 5 | 15 | 14
Other | 394 | (454) | 1,802 | 1,005
Total other income (expenses) | (7,234) | (8,022) | (13,574) | (14,236)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries | 65,914 | 46,302 | 125,481 | 94,144
Income tax expense (benefit): |  |  |  |
Current | 24,824 | 19,363 | 45,999 | 36,548
Deferred | (750) | (2,963) | (2,504) | (2,769)
Total income tax expense (benefit) | 24,074 | 16,400 | 43,495 | 33,779
Earnings before equity in earnings of nonconsolidated subsidiaries | 41,840 | 29,902 | 81,986 | 60,365
Equity in earnings of nonconsolidated subsidiaries | 47,723 | 30,078 | 85,146 | 51,940
Net earnings | 89,563 | 59,980 | 167,132 | 112,305
Net earnings attributable to Valmont Industries, Inc. | 89,563 | 59,980 | 167,132 | 112,305
Guarantors |  |  |  |
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries |  |  |  |
Net sales | 169,027 | 152,159 | 339,876 | 280,871
Cost of sales | 126,290 | 121,658 | 255,288 | 225,300
Gross profit | 42,737 | 30,501 | 84,588 | 55,571
Selling, general and administrative expenses | 14,347 | 13,177 | 28,341 | 26,965
Operating income | 28,390 | 17,324 | 56,247 | 28,606
Other income (expense): |  |  |  |
Interest expense | (11,944) | (12,244) | (24,574) | (24,501)
Interest income | 237 | 129 | 490 | 323
Other | 31 | 11 | 46 | 25
Total other income (expenses) | (11,676) | (12,104) | (24,038) | (24,153)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries | 16,714 | 5,220 | 32,209 | 4,453
Income tax expense (benefit): |  |  |  |
Current | 6,546 | 6,197 | 13,382 | 5,296
Deferred | 1,399 | (1,031) | 1,702 | 139
Total income tax expense (benefit) | 7,945 | 5,166 | 15,084 | 5,435
Earnings before equity in earnings of nonconsolidated subsidiaries | 8,769 | 54 | 17,125 | (982)
Equity in earnings of nonconsolidated subsidiaries | 23,234 | 23,253 | 42,385 | 46,361
Net earnings | 32,003 | 23,307 | 59,510 | 45,379
Net earnings attributable to Valmont Industries, Inc. | 32,003 | 23,307 | 59,510 | 45,379
Non-Guarantors |  |  |  |
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries |  |  |  |
Net sales | 360,802 | 333,171 | 686,211 | 627,113
Cost of sales | 273,482 | 261,374 | 521,865 | 491,297
Gross profit | 87,320 | 71,797 | 164,346 | 135,816
Selling, general and administrative expenses | 47,139 | 45,104 | 100,298 | 91,540
Operating income | 40,181 | 26,693 | 64,048 | 44,276
Other income (expense): |  |  |  |
Interest expense | (390) | 152 | (824) | 27
Interest income | 13,552 | 14,020 | 27,274 | 28,152
Other | (302) | (1,534) | (169) | (1,430)
Total other income (expenses) | 12,860 | 12,638 | 26,281 | 26,749
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries | 53,041 | 39,331 | 90,329 | 71,025
Income tax expense (benefit): |  |  |  |
Current | 16,182 | 10,425 | 26,652 | 21,170
Deferred | (1,691) | (1,199) | (3,927) | (1,826)
Total income tax expense (benefit) | 14,491 | 9,226 | 22,725 | 19,344
Earnings before equity in earnings of nonconsolidated subsidiaries | 38,550 | 30,105 | 67,604 | 51,681
Equity in earnings of nonconsolidated subsidiaries |  | 2,276 | 207 | 3,932
Net earnings | 38,550 | 32,381 | 67,811 | 55,613
Less: Earnings attributable to noncontrolling interests | (1,753) | (1,179) | (2,324) | (1,442)
Net earnings attributable to Valmont Industries, Inc. | 36,797 | 31,202 | 65,487 | 54,171
Eliminations |  |  |  |
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries |  |  |  |
Net sales | (77,987) | (65,658) | (171,228) | (135,802)
Cost of sales | (80,533) | (64,669) | (174,333) | (134,710)
Gross profit | 2,546 | (989) | 3,105 | (1,092)
Operating income | 2,546 | (989) | 3,105 | (1,092)
Other income (expense): |  |  |  |
Interest expense | 11,945 | 12,244 | 24,574 | 24,501
Interest income | (11,945) | (12,244) | (24,574) | (24,501)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries | 2,546 | (989) | 3,105 | (1,092)
Income tax expense (benefit): |  |  |  |
Current | 658 |  | 837 |
Total income tax expense (benefit) | 658 |  | 837 |
Earnings before equity in earnings of nonconsolidated subsidiaries | 1,888 | (989) | 2,268 | (1,092)
Equity in earnings of nonconsolidated subsidiaries | (70,688) | (53,520) | (127,265) | (98,458)
Net earnings | (68,800) | (54,509) | (124,997) | (99,550)
Net earnings attributable to Valmont Industries, Inc. | $ (68,800) | $ (54,509) | $ (124,997) | $ (99,550)

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- Definition The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 9 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.9) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 55 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591552-111686 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=7656940&loc=SL4569616-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 29 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 38 -Subparagraph c(1) -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 55 -Paragraph 4J -URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591551-111686 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph A1, A4, A5 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (a),(c) -URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 5 -Subparagraph b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 1 -Article 5 + Details
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 4 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.4) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -SubTopic 10 -Section 30 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6386349&loc=d3e3636-108311 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Paragraph 5A -Chapter 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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