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GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION - Condensed Consolidated Statements of Earnings (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 29, 2018 | Sep. 30, 2017 | Sep. 29, 2018 | Sep. 30, 2017
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 | $ 678,692 | $ 680,779 | $ 2,059,781 | $ 2,030,989
Cost of sales | 514,352 | 517,185 | 1,551,202 | 1,519,510
Gross profit | 164,340 | 163,594 | 508,579 | 511,479
Selling, general and administrative expenses | 125,980 | 103,504 | 342,589 | 308,283
Operating income | 38,360 | 60,090 | 165,990 | 203,196
Other income (expense): |  |  |  |
Interest expense | (10,954) | (11,190) | (33,819) | (33,312)
Interest income | 1,000 | 1,311 | 3,713 | 3,205
Loss from divestiture of grinding media business | 0 | 0 | (6,084) | 0
Other | (12,324) | 350 | (17,705) | 1,203
Total other income (expenses) | (22,278) | (9,529) | (47,811) | (28,904)
Earnings before income taxes | 16,082 | 50,561 | 118,179 | 174,292
Income tax expense (benefit): |  |  |  |
Current | 10,777 | 21,163 | 35,214 | 50,264
Deferred income taxes | (1,686) | (7,268) | 814 | 79
Total income tax expense (benefit) | 9,091 | 13,895 | 36,028 | 50,343
Earnings before equity in earnings of nonconsolidated subsidiaries | 6,991 | 36,666 | 82,151 | 123,949
Equity in earnings of nonconsolidated subsidiaries | 0 | 0 | 0 | 0
Net earnings | 6,991 | 36,666 | 82,151 | 123,949
Less: Earnings attributable to noncontrolling interests | (2,543) | (1,458) | (5,462) | (4,098)
Net earnings attributable to Valmont Industries, Inc. | 4,448 | 35,208 | 76,689 | 119,851
Eliminations |  |  |  |
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries |  |  |  |
Net sales | (65,566) | (60,820) | (200,754) | (182,956)
Cost of sales | (65,598) | (60,570) | (202,030) | (182,777)
Gross profit | 32 | (250) | 1,276 | (179)
Selling, general and administrative expenses | 0 | 0 | 0 | 0
Operating income | 32 | (250) | 1,276 | (179)
Other income (expense): |  |  |  |
Interest expense | 3,600 | 3,989 | 11,229 | 10,040
Interest income | (3,600) | (3,989) | (11,229) | (10,040)
Loss from divestiture of grinding media business |  |  | 0 |
Other | 0 | 0 | 0 | 0
Total other income (expenses) | 0 | 0 | 0 | 0
Earnings before income taxes | 32 | (250) | 1,276 | (179)
Income tax expense (benefit): |  |  |  |
Deferred income taxes |  |  | 0 | 0
Total income tax expense (benefit) | (26) | (8) | 62 | (19)
Earnings before equity in earnings of nonconsolidated subsidiaries | 58 | (242) | 1,214 | (160)
Equity in earnings of nonconsolidated subsidiaries | (13,650) | (37,918) | (93,426) | (100,555)
Net earnings | (13,592) | (38,160) | (92,212) | (100,715)
Less: Earnings attributable to noncontrolling interests | 0 | 0 | 0 | 0
Net earnings attributable to Valmont Industries, Inc. | (13,592) | (38,160) | (92,212) | (100,715)
Parent |  |  |  |
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries |  |  |  |
Net sales | 293,070 | 284,538 | 906,978 | 893,988
Cost of sales | 227,467 | 216,039 | 683,740 | 666,060
Gross profit | 65,603 | 68,499 | 223,238 | 227,928
Selling, general and administrative expenses | 51,159 | 46,451 | 147,949 | 143,590
Operating income | 14,444 | 22,048 | 75,289 | 84,338
Other income (expense): |  |  |  |
Interest expense | (10,511) | (10,884) | (32,788) | (32,672)
Interest income | 174 | 268 | 655 | 563
Loss from divestiture of grinding media business |  |  | (2,518) |
Other | (13,765) | 1,379 | (15,773) | 3,900
Total other income (expenses) | (24,102) | (9,237) | (47,906) | (28,209)
Earnings before income taxes | (9,658) | 12,811 | 27,383 | 56,129
Income tax expense (benefit): |  |  |  |
Deferred income taxes |  |  | 729 | 2,065
Total income tax expense (benefit) | (4,497) | 5,556 | 6,181 | 21,552
Earnings before equity in earnings of nonconsolidated subsidiaries | (5,161) | 7,255 | 21,202 | 34,577
Equity in earnings of nonconsolidated subsidiaries | 9,609 | 27,953 | 55,487 | 85,274
Net earnings | 4,448 | 35,208 | 76,689 | 119,851
Less: Earnings attributable to noncontrolling interests | 0 | 0 | 0 | 0
Net earnings attributable to Valmont Industries, Inc. | 4,448 | 35,208 | 76,689 | 119,851
Guarantors |  |  |  |
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries |  |  |  |
Net sales | 132,059 | 113,243 | 386,793 | 352,827
Cost of sales | 100,130 | 88,757 | 293,238 | 271,620
Gross profit | 31,929 | 24,486 | 93,555 | 81,207
Selling, general and administrative expenses | 12,908 | 12,046 | 37,360 | 35,555
Operating income | 19,021 | 12,440 | 56,195 | 45,652
Other income (expense): |  |  |  |
Interest expense | (3,600) | (3,989) | (11,229) | (10,040)
Interest income | 47 | 9 | 62 | 33
Loss from divestiture of grinding media business |  |  | 0 |
Other | 15 | 11 | 41 | 42
Total other income (expenses) | (3,538) | (3,969) | (11,126) | (9,965)
Earnings before income taxes | 15,483 | 8,471 | 45,069 | 35,687
Income tax expense (benefit): |  |  |  |
Deferred income taxes |  |  | 1,791 | 0
Total income tax expense (benefit) | 4,732 | 3,082 | 12,260 | 13,184
Earnings before equity in earnings of nonconsolidated subsidiaries | 10,751 | 5,389 | 32,809 | 22,503
Equity in earnings of nonconsolidated subsidiaries | 4,041 | 9,965 | 37,939 | 15,281
Net earnings | 14,792 | 15,354 | 70,748 | 37,784
Less: Earnings attributable to noncontrolling interests | 0 | 0 | 0 | 0
Net earnings attributable to Valmont Industries, Inc. | 14,792 | 15,354 | 70,748 | 37,784
Non- Guarantors |  |  |  |
Condensed consolidated financial information for the Company (Parent), the guarantor subsidiaries and the non-guarantor subsidiaries |  |  |  |
Net sales | 319,129 | 343,818 | 966,764 | 967,130
Cost of sales | 252,353 | 272,959 | 776,254 | 764,607
Gross profit | 66,776 | 70,859 | 190,510 | 202,523
Selling, general and administrative expenses | 61,913 | 45,007 | 157,280 | 129,138
Operating income | 4,863 | 25,852 | 33,230 | 73,385
Other income (expense): |  |  |  |
Interest expense | (443) | (306) | (1,031) | (640)
Interest income | 4,379 | 5,023 | 14,225 | 12,649
Loss from divestiture of grinding media business |  |  | (3,566) |
Other | 1,426 | (1,040) | (1,973) | (2,739)
Total other income (expenses) | 5,362 | 3,677 | 11,221 | 9,270
Earnings before income taxes | 10,225 | 29,529 | 44,451 | 82,655
Income tax expense (benefit): |  |  |  |
Deferred income taxes |  |  | (1,706) | (1,986)
Total income tax expense (benefit) | 8,882 | 5,265 | 17,525 | 15,626
Earnings before equity in earnings of nonconsolidated subsidiaries | 1,343 | 24,264 | 26,926 | 67,029
Equity in earnings of nonconsolidated subsidiaries | 0 | 0 | 0 | 0
Net earnings | 1,343 | 24,264 | 26,926 | 67,029
Less: Earnings attributable to noncontrolling interests | (2,543) | (1,458) | (5,462) | (4,098)
Net earnings attributable to Valmont Industries, Inc. | $ (1,200) | $ 22,806 | $ 21,464 | $ 62,931

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