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EARNINGS PER SHARE | 6 Months Ended
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Jul. 01, 2023
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | (6) EARNINGS PER SHARE The following table provides a reconciliation of the earnings and average share amounts used to compute both basic and diluted earnings per share:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Thirteen weeks ended | ​ | Twenty-six weeks ended
​ | ​ | July 1, | ​ | June 25, | ​ | July 1, | ​ | June 25,
​ | ​ | 2023 |  | 2022 |  | 2023 |  | 2022
Net earnings attributable to Valmont Industries, Inc. | ​ | $ | 89,376 | ​ | $ | 76,108 | ​ | $ | 163,916 | ​ | $ | 138,419
Weighted average shares outstanding: | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​
Basic weighted average shares outstanding | ​ | ​ | 21,029 | ​ | ​ | 21,313 | ​ | ​ | 21,149 | ​ | ​ | 21,296
Dilutive effect of various stock awards | ​ | ​ | 200 | ​ | ​ | 228 | ​ | ​ | 221 | ​ | ​ | 220
Diluted weighted average shares outstanding | ​ | ​ | 21,229 | ​ | ​ | 21,541 | ​ | ​ | 21,370 | ​ | ​ | 21,516
Earnings per share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic | ​ | $ | 4.25 | ​ | $ | 3.57 | ​ | $ | 7.75 | ​ | $ | 6.50
Dilutive effect of various stock awards | ​ | ​ | (0.04) | ​ | ​ | (0.04) | ​ | ​ | (0.08) | ​ | ​ | (0.07)
Diluted | ​ | $ | 4.21 | ​ | $ | 3.53 | ​ | $ | 7.67 | ​ | $ | 6.43
​ As of July 1, 2023 and June 25, 2022, there were 40,564 and 47,223 outstanding stock options 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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