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EARNINGS PER SHARE | 12 Months Ended
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Dec. 31, 2016
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 Effect of Stock Options |  | Diluted EPS
2016: |  |  |  |  |
Net earnings attributable to Valmont Industries, Inc. | $ | 173,232 |  |  | $ | — |  |  | $ | 173,232 |
Weighted average shares outstanding (000's) | 22,562 |  |  | 147 |  |  | 22,709 |
Per share amount | $ | 7.68 |  |  | $ | 0.05 |  |  | $ | 7.63 |
2015: |  |  |  |  |
Net earnings attributable to Valmont Industries, Inc. | $ | 40,117 |  |  | $ | — |  |  | $ | 40,117 |
Weighted average shares outstanding (000's) | 23,288 |  |  | 117 |  |  | 23,405 |
Per share amount | $ | 1.72 |  |  | $ | 0.01 |  |  | $ | 1.71 |
2014: |  |  |  |  |
Net earnings attributable to Valmont Industries, Inc. | $ | 183,976 |  |  | $ | — |  |  | $ | 183,976 |
Weighted average shares outstanding (000's) | 25,719 |  |  | 213 |  |  | 25,932 |
Per share amount | $ | 7.15 |  |  | $ | 0.06 |  |  | $ | 7.09 |
Basic and diluted net earnings and earnings per share in fiscal 2016 included a deferred income tax benefit of $30,590 ($1.35 per share) primarily attributable to the re-measurement of the deferred tax asset related to the Company's U.K. defined benefit pension plan. In addition, fiscal 2016 included $9,888 ($0.44 per share) recorded as a valuation allowance against a tax credit asset. Finally, fiscal 2016 included the reversal of a contingent liability that was recognized as part of the Delta purchase accounting of $16,591 ($0.73 per share) which was not taxable. Fiscal 2015 included impairments of goodwill and intangible assets of $40,140 after-tax ($1.72 per share), asset impairments arising from restructuring activities of $14,545 after-tax ($0.62 per share), and $13,622 of cash restructuring expenses ($0.58 per share). Fiscal 2014 included costs associated with refinancing of our long-term debt of $24,171 after tax ($0.93 per share). 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 the end of fiscal years 2016, 2015, and 2014 there were approximately 197,303, 426,338, and 449,000 outstanding stock options, respectively, with exercise prices exceeding the market price of common stock that were excluded from the computation of diluted earnings per share, respectively.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1278-109256 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 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=65016374&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
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