XML 11 R39.htm IDEA: XBRL DOCUMENT v3.2.0.727
GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 27, 2015
Jun. 28, 2014
Jun. 27, 2015
Jun. 28, 2014
GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION        
Parent company's percentage ownership of Guarantors 100.00%   100.00%  
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries        
Net sales $ 682,123 $ 842,599 $ 1,352,521 $ 1,594,339
Cost of sales 512,575 622,122 1,017,519 1,166,880
Gross profit 169,548 220,477 335,002 427,459
Selling, general and administrative expenses 115,548 115,701 223,319 223,835
Operating income 54,000 104,776 111,683 203,624
Other income (expense):        
Interest expense (11,232) (8,304) (22,360) (16,501)
Interest income 616 1,577 1,490 3,316
Other (28) 1,903 988 (3,909)
Total other income (expenses) (10,644) (4,824) (19,882) (17,094)
Earnings before income taxes 43,356 99,952 91,801 186,530
Income tax expense (benefit):        
Current 19,136 26,117 30,910 59,055
Deferred (5,219) 7,953 (55) 5,030
Total income tax expense (benefit) 13,917 34,070 30,855 64,085
Earnings before equity in earnings of nonconsolidated subsidiaries 29,439 65,882 60,946 122,445
Equity in earnings of nonconsolidated subsidiaries   (30)   (30)
Net earnings 29,439 65,852 60,946 122,415
Less: Earnings attributable to noncontrolling interests (1,566) (1,876) (2,334) (2,459)
Net earnings attributable to Valmont Industries, Inc. 27,873 63,976 58,612 119,956
Parent        
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries        
Net sales 311,156 378,642 640,287 755,284
Cost of sales 232,779 280,054 482,646 551,813
Gross profit 78,377 98,588 157,641 203,471
Selling, general and administrative expenses 50,913 50,164 98,955 97,954
Operating income 27,464 48,424 58,686 105,517
Other income (expense):        
Interest expense (10,894) (7,691) (21,726) (15,366)
Interest income 4 6 13 26
Other (248) 1,754 (897) 1,821
Total other income (expenses) (11,138) (5,931) (22,610) (13,519)
Earnings before income taxes 16,326 42,493 36,076 91,998
Income tax expense (benefit):        
Current 7,545 9,315 8,937 29,193
Deferred (1,650) 7,672 3,819 5,829
Total income tax expense (benefit) 5,895 16,987 12,756 35,022
Earnings before equity in earnings of nonconsolidated subsidiaries 10,431 25,506 23,320 56,976
Equity in earnings of nonconsolidated subsidiaries 17,442 38,470 35,292 62,980
Net earnings 27,873 63,976 58,612 119,956
Net earnings attributable to Valmont Industries, Inc. 27,873 63,976 58,612 119,956
Guarantors        
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries        
Net sales 102,090 124,414 198,038 260,311
Cost of sales 78,149 91,536 153,045 191,352
Gross profit 23,941 32,878 44,993 68,959
Selling, general and administrative expenses 11,091 12,670 22,388 25,661
Operating income 12,850 20,208 22,605 43,298
Other income (expense):        
Interest income 2 113 4 296
Other 24 140   (352)
Total other income (expenses) 26 253 4 (56)
Earnings before income taxes 12,876 20,461 22,609 43,242
Income tax expense (benefit):        
Current 5,223 5,458 9,850 13,512
Deferred (51) 2,079 (584) 1,667
Total income tax expense (benefit) 5,172 7,537 9,266 15,179
Earnings before equity in earnings of nonconsolidated subsidiaries 7,704 12,924 13,343 28,063
Equity in earnings of nonconsolidated subsidiaries 876 8,478 5,181 9,023
Net earnings 8,580 21,402 18,524 37,086
Net earnings attributable to Valmont Industries, Inc. 8,580 21,402 18,524 37,086
Non-Guarantors        
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries        
Net sales 322,555 387,715 624,791 687,996
Cost of sales 254,666 298,764 491,651 533,398
Gross profit 67,889 88,951 133,140 154,598
Selling, general and administrative expenses 53,544 52,867 101,976 100,220
Operating income 14,345 36,084 31,164 54,378
Other income (expense):        
Interest expense (338) (613) (634) (1,135)
Interest income 610 1,458 1,473 2,994
Other 196 9 1,885 (5,378)
Total other income (expenses) 468 854 2,724 (3,519)
Earnings before income taxes 14,813 36,938 33,888 50,859
Income tax expense (benefit):        
Current 6,547 11,316 12,344 16,218
Deferred (3,518) (1,798) (3,290) (2,466)
Total income tax expense (benefit) 3,029 9,518 9,054 13,752
Earnings before equity in earnings of nonconsolidated subsidiaries 11,784 27,420 24,834 37,107
Net earnings 11,784 27,420 24,834 37,107
Less: Earnings attributable to noncontrolling interests (1,566) (1,876) (2,334) (2,459)
Net earnings attributable to Valmont Industries, Inc. 10,218 25,544 22,500 34,648
Eliminations        
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries        
Net sales (53,678) (48,172) (110,595) (109,252)
Cost of sales (53,019) (48,232) 109,823 (109,683)
Gross profit (659) 60 (772) 431
Operating income (659) 60 (772) 431
Other income (expense):        
Earnings before income taxes (659) 60 (772) 431
Income tax expense (benefit):        
Current (179) 28 (221) 132
Total income tax expense (benefit) (179) 28 (221) 132
Earnings before equity in earnings of nonconsolidated subsidiaries (480) 32 (551) 299
Equity in earnings of nonconsolidated subsidiaries (18,318) (46,978) (40,473) (72,033)
Net earnings (18,798) (46,946) (41,024) (71,734)
Net earnings attributable to Valmont Industries, Inc. $ (18,798) $ (46,946) $ (41,024) $ (71,734)