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CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2016 | Dec. 26, 2015 | Dec. 27, 2014
Income Statement [Abstract] |  |  |
Product sales | $ 2,255,860 | $ 2,338,132 | $ 2,824,456
Services sales | 265,816 | 280,792 | 298,687
Net sales | 2,521,676 | 2,618,924 | 3,123,143
Product cost of sales | 1,682,355 | 1,804,055 | 2,118,687
Services cost of sales | 183,078 | 193,836 | 196,339
Total cost of sales | 1,865,433 | 1,997,891 | 2,315,026
Gross profit | 656,243 | 621,033 | 808,117
Selling, general and administrative expenses | 412,739 | 447,368 | 450,401
Impairment of goodwill and intangible assets | 0 | 41,970 | 0
Operating income | 243,504 | 131,695 | 357,716
Other income (expenses): |  |  |
Interest expense | (44,409) | (44,621) | (36,790)
Interest income | 3,105 | 3,296 | 6,046
Costs associated with refinancing of debt | 0 | 0 | (38,705)
Other | 18,254 | 2,637 | (4,084)
Total other income (expenses) | (23,050) | (38,688) | (73,533)
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries | 220,454 | 93,007 | 284,183
Income tax expense (benefit): |  |  |
Current | 65,748 | 42,569 | 89,643
Deferred | (23,685) | 4,858 | 5,251
Total income tax expense (benefit) | 42,063 | 47,427 | 94,894
Comprehensive income (loss) | 100,235 | (91,836) | 99,748
Earnings before equity in earnings of nonconsolidated subsidiaries | 178,391 | 45,580 | 189,289
Equity in earnings of nonconsolidated subsidiaries | 0 | (247) | 29
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | 13,652 | 0 | 0
Net earnings | 178,391 | 45,333 | 189,318
Less: Earnings attributable to noncontrolling interests | (5,159) | (5,216) | (5,342)
Net earnings attributable to Valmont Industries, Inc. | $ 173,232 | $ 40,117 | $ 183,976
Earnings per share: |  |  |
Basic (in dollars per share) | $ 7.68 | $ 1.72 | $ 7.15
Diluted (in dollars per share) | 7.63 | 1.71 | 7.09
Cash dividends declared per share (in dollars per share) | $ 1.500 | $ 1.500 | $ 1.375
Weighted average number of shares of common stock outstanding - Basic (in shares) | 22,562 | 23,288 | 25,719
Weighted average number of shares of common stock outstanding - Diluted (in shares) | 22,709 | 23,405 | 25,932

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- Definition Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and 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(a)) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + 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=63488584&loc=d3e20235-122688 + Details
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- Definition Aggregate revenue during the period from services rendered in the normal course of business, after deducting allowances and 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(d)) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + 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 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=63488584&loc=d3e20235-122688 Reference 2: 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=68048583&loc=d3e3636-108311 + Details
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1505-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1448-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Weighted-Average Number of Common Shares Outstanding -URI http://asc.fasb.org/extlink&oid=6528421 + Details
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- Definition Sum of operating profit and nonoperating income (expense) after income taxes and before income (loss) from equity method investments and noncontrolling interest. + References No definition available. + Details
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