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BUSINESS SEGMENTS | 12 Months Ended
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Dec. 30, 2023
Segment Reporting [Abstract] |
BUSINESS SEGMENTS | (21) BUSINESS SEGMENTS The Company has two reportable segments based on its management structure. Each segment is global in nature with a manager responsible for segment operational performance and the allocation of capital within the segment. Net corporate expense is net of certain service‑related expenses that are allocated to business units generally based on employee headcounts and sales dollars. Reportable segments are as follows: INFRASTRUCTURE: This segment consists of the manufacture and distribution of products and solutions to serve the infrastructure markets of utility, solar, lighting, transportation, and telecommunications, along with coatings services to protect metal products. AGRICULTURE: This segment consists of the manufacture of center pivot components and linear irrigation equipment for agricultural markets, including parts and tubular products, and advanced technology solutions for precision agriculture. In addition to these two reportable segments, the Company had a business and related activities in fiscal 2022 that were not more than 10% of consolidated sales, operating income, or assets. This business, the offshore wind energy structures business, was reported in the “Other” segment until its divestiture in the fourth quarter of fiscal 2022. The accounting policies of the reportable segments are the same as those described in Note 1. The Company evaluates the performance of its reportable segments based on operating income and return on invested capital. The Company’s operating income for segment purposes excludes unallocated corporate general and administrative expenses, interest expense, non-operating income and deductions, or income taxes. Summary by Business ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fiscal Year Ended
​ |  | December 30, |  | December 31, | ​ | December 25,
​ | ​ | 2023 | ​ | 2022 | ​ | 2021
SALES: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Infrastructure | ​ | $ | 3,010,067 | ​ | $ | 2,928,419 | ​ | $ | 2,372,100
Agriculture | ​ | ​ | 1,182,223 | ​ | ​ | 1,346,672 | ​ | ​ | 1,028,717
Other | ​ | ​ | — | ​ | ​ | 100,219 | ​ | ​ | 123,001
Total sales | ​ | ​ | 4,192,290 | ​ | ​ | 4,375,310 | ​ | ​ | 3,523,818
INTERSEGMENT SALES: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Infrastructure | ​ | ​ | (10,430) | ​ | ​ | (18,673) | ​ | ​ | (10,576)
Agriculture | ​ | ​ | (7,262) | ​ | ​ | (11,387) | ​ | ​ | (11,667)
Total intersegment sales | ​ | ​ | (17,692) | ​ | ​ | (30,060) | ​ | ​ | (22,243)
NET SALES: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Infrastructure | ​ | ​ | 2,999,637 | ​ | ​ | 2,909,746 | ​ | ​ | 2,361,524
Agriculture | ​ | ​ | 1,174,961 | ​ | ​ | 1,335,285 | ​ | ​ | 1,017,050
Other | ​ | ​ | — | ​ | ​ | 100,219 | ​ | ​ | 123,001
Total net sales | ​ | $ | 4,174,598 | ​ | $ | 4,345,250 | ​ | $ | 3,501,575
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
OPERATING INCOME (LOSS): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Infrastructure | ​ | ​ | 396,253 | ​ | ​ | 354,499 | ​ | ​ | 273,598
Agriculture | ​ | ​ | 16,850 | ​ | ​ | 179,263 | ​ | ​ | 137,027
Other | ​ | ​ | — | ​ | ​ | 2,259 | ​ | ​ | (40,192)
Corporate | ​ | ​ | (121,546) | ​ | ​ | (102,772) | ​ | ​ | (83,648)
Total operating income | ​ | $ | 291,557 | ​ | $ | 433,249 | ​ | $ | 286,785
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fiscal year ended December 30, 2023
​ | ​ | Infrastructure |  | Agriculture |  | Intersegment |  | Consolidated
Geographical market: | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
North America | ​ | $ | 2,318,801 | ​ | $ | 587,056 | ​ | $ | (16,282) | ​ | $ | 2,889,575
International | ​ |  | 691,266 | ​ |  | 595,167 | ​ |  | (1,410) | ​ |  | 1,285,023
Total sales | ​ | $ | 3,010,067 | ​ | $ | 1,182,223 | ​ | $ | (17,692) | ​ | $ | 4,174,598
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product line: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Transmission, Distribution, and Substation | ​ | $ | 1,243,768 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,243,768
Lighting and Transportation | ​ |  | 964,072 | ​ |  | — | ​ |  | — | ​ |  | 964,072
Coatings | ​ |  | 354,330 | ​ |  | — | ​ |  | (9,020) | ​ |  | 345,310
Telecommunications | ​ |  | 252,165 | ​ |  | — | ​ |  | — | ​ |  | 252,165
Solar | ​ |  | 195,732 | ​ |  | — | ​ |  | (1,410) | ​ |  | 194,322
Irrigation Equipment and Parts | ​ |  | — | ​ |  | 1,069,425 | ​ |  | (7,262) | ​ |  | 1,062,163
Technology Products and Services | ​ |  | — | ​ |  | 112,798 | ​ |  | — | ​ |  | 112,798
Total sales | ​ | $ | 3,010,067 | ​ | $ | 1,182,223 | ​ | $ | (17,692) | ​ | $ | 4,174,598
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fiscal year ended December 31, 2022
​ | ​ | Infrastructure |  | Agriculture | ​ | Other |  | Intersegment |  | Consolidated
Geographical market: | ​ | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |
North America | ​ | $ | 2,234,339 | ​ | $ | 766,929 | ​ | $ | — | ​ | $ | (26,248) | ​ | $ | 2,975,020
International | ​ |  | 694,080 | ​ |  | 579,743 | ​ |  | 100,219 | ​ |  | (3,812) | ​ |  | 1,370,230
Total sales | ​ | $ | 2,928,419 | ​ | $ | 1,346,672 | ​ | $ | 100,219 | ​ | $ | (30,060) | ​ | $ | 4,345,250
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product line: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Transmission, Distribution, and Substation | ​ | $ | 1,184,660 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 1,184,660
Lighting and Transportation | ​ |  | 940,462 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 940,462
Coatings | ​ |  | 356,707 | ​ |  | — | ​ |  | — | ​ |  | (15,327) | ​ |  | 341,380
Telecommunications | ​ |  | 320,342 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 320,342
Solar | ​ |  | 126,248 | ​ |  | — | ​ |  | — | ​ |  | (3,346) | ​ |  | 122,902
Irrigation Equipment and Parts | ​ |  | — | ​ |  | 1,231,587 | ​ |  | — | ​ |  | (11,387) | ​ |  | 1,220,200
Technology Products and Services | ​ |  | — | ​ |  | 115,085 | ​ |  | — | ​ |  | — | ​ |  | 115,085
Other | ​ | ​ | — | ​ |  | — | ​ |  | 100,219 | ​ |  | — | ​ |  | 100,219
Total sales | ​ | $ | 2,928,419 | ​ | $ | 1,346,672 | ​ | $ | 100,219 | ​ | $ | (30,060) | ​ | $ | 4,345,250
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fiscal year ended December 25, 2021
​ | ​ | Infrastructure |  | Agriculture | ​ | Other |  | Intersegment |  | Consolidated
Geographical market: | ​ | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |
North America | ​ | $ | 1,724,531 | ​ | $ | 545,574 | ​ | $ | — | ​ | $ | (22,243) | ​ | $ | 2,247,862
International | ​ |  | 647,569 | ​ |  | 483,143 | ​ |  | 123,001 | ​ |  | — | ​ |  | 1,253,713
Total sales | ​ | $ | 2,372,100 | ​ | $ | 1,028,717 | ​ | $ | 123,001 | ​ | $ | (22,243) | ​ | $ | 3,501,575
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product line: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Transmission, Distribution, and Substation | ​ | $ | 935,099 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 935,099
Lighting and Transportation | ​ |  | 825,923 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 825,923
Coatings | ​ |  | 309,647 | ​ |  | — | ​ |  | — | ​ |  | (10,575) | ​ |  | 299,072
Telecommunications | ​ |  | 238,527 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 238,527
Solar | ​ |  | 62,904 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 62,904
Irrigation Equipment and Parts | ​ |  | — | ​ |  | 930,858 | ​ |  | — | ​ |  | (11,668) | ​ |  | 919,190
Technology Products and Services | ​ |  | — | ​ |  | 97,859 | ​ |  | — | ​ |  | — | ​ |  | 97,859
Other | ​ | ​ | — | ​ |  | — | ​ |  | 123,001 | ​ |  | — | ​ |  | 123,001
Total sales | ​ | $ | 2,372,100 | ​ | $ | 1,028,717 | ​ | $ | 123,001 | ​ | $ | (22,243) | ​ | $ | 3,501,575
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fiscal Year Ended
​ | ​ | December 30, | ​ | December 31, | ​ | December 25,
​ | ​ | 2023 |  | 2022 |  | 2021
EARNINGS BEFORE INCOME TAXES AND EQUITY IN LOSS OF NONCONSOLIDATED SUBSIDIARIES: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Infrastructure | ​ | $ | 396,253 | ​ | $ | 354,499 | ​ | $ | 273,598
Agriculture | ​ |  | 16,850 | ​ |  | 179,263 | ​ |  | 137,027
Other | ​ | ​ | — | ​ | ​ | 2,259 | ​ | ​ | (40,192)
Corporate | ​ |  | (121,546) | ​ |  | (102,772) | ​ |  | (83,648)
Total operating income | ​ |  | 291,557 | ​ |  | 433,249 | ​ |  | 286,785
Interest expense, net | ​ |  | (50,578) | ​ |  | (45,519) | ​ |  | (41,420)
Other income (expenses) | ​ |  | (4,527) | ​ |  | (23,842) | ​ |  | 14,718
Earnings before income taxes and equity in loss of nonconsolidated subsidiaries | ​ | $ | 236,452 | ​ | $ | 363,888 | ​ | $ | 260,083
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 30, | ​ | December 31, | ​ | December 25,
​ | ​ | 2023 |  | 2022 |  | 2021
ASSETS: | ​ |  |  | ​ |  |  | ​ |  |
Infrastructure | ​ | $ | 2,249,132 | ​ | $ | 2,267,800 | ​ | $ | 2,102,851
Agriculture | ​ |  | 978,590 | ​ |  | 1,112,588 | ​ |  | 1,027,272
Other | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 67,592
Corporate | ​ |  | 249,726 | ​ |  | 176,608 | ​ |  | 249,534
Total assets | ​ | $ | 3,477,448 | ​ | $ | 3,556,996 | ​ | $ | 3,447,249
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fiscal Year Ended
​ | ​ | December 30, | ​ | December 31, | ​ | December 25,
​ | ​ | 2023 |  | 2022 |  | 2021
CAPITAL EXPENDITURES: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Infrastructure |  | $ | 68,295 |  | $ | 53,228 |  | $ | 72,129
Agriculture |  | ​ | 10,890 |  | ​ | 32,886 |  | ​ | 17,509
Other | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 345
Corporate |  | ​ | 17,586 |  | ​ | 7,174 |  | ​ | 17,807
Total capital expenditures | ​ | $ | 96,771 | ​ | $ | 93,288 | ​ | $ | 107,790
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fiscal Year Ended
​ | ​ | December 30, | ​ | December 31, | ​ | December 25,
​ | ​ | 2023 |  | 2022 |  | 2021
DEPRECIATION AND AMORTIZATION: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Infrastructure | ​ | $ | 64,654 | ​ | $ | 62,398 | ​ | $ | 59,748
Agriculture | ​ |  | 23,409 | ​ |  | 23,681 | ​ |  | 17,813
Other | ​ | ​ | — | ​ | ​ | 1,393 | ​ | ​ | 5,988
Corporate | ​ |  | 10,645 | ​ |  | 9,695 | ​ |  | 9,028
Total depreciation and amortization expense | ​ | $ | 98,708 | ​ | $ | 97,167 | ​ | $ | 92,577
​ Summary by Geographical Area by Location of Valmont Facilities ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fiscal Year Ended
​ | ​ | December 30, | ​ | December 31, | ​ | December 25,
​ | ​ | 2023 |  | 2022 |  | 2021
NET SALES: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
United States | ​ | $ | 2,860,951 | ​ | $ | 2,965,673 | ​ | $ | 2,260,198
Australia | ​ |  | 313,075 | ​ |  | 292,072 | ​ |  | 297,720
Brazil | ​ |  | 311,367 | ​ |  | 354,497 | ​ |  | 200,402
Denmark | ​ |  | — | ​ |  | 100,219 | ​ |  | 123,001
Other | ​ |  | 689,205 | ​ |  | 632,789 | ​ |  | 620,254
Total net sales | ​ | $ | 4,174,598 | ​ | $ | 4,345,250 | ​ | $ | 3,501,575
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 30, | ​ | December 31, | ​ | December 25,
​ | ​ | 2023 |  | 2022 |  | 2021
LONG-LIVED ASSETS: | ​ |  |  | ​ |  |  | ​ |  |
United States | ​ | $ | 1,116,962 | ​ | $ | 1,246,956 | ​ | $ | 1,172,552
Australia | ​ |  | 103,847 | ​ |  | 82,290 | ​ |  | 173,240
Brazil | ​ |  | 60,937 | ​ |  | 42,259 | ​ |  | 28,583
Denmark | ​ |  | — | ​ |  | — | ​ |  | 21,232
Other | ​ |  | 408,073 | ​ |  | 404,906 | ​ |  | 338,879
Total long-lived assets | ​ | $ | 1,689,819 | ​ | $ | 1,776,411 | ​ | $ | 1,734,486
​ No single customer accounted for more than 10% of net sales in fiscal 2023, 2022, or 2021. Net sales by geographical area are based on the location of the facility producing the sales and do not include sales to other operating units of the Company. Brazil and Australia each accounted for approximately 7% of the Company’s net sales in fiscal 2023; no other foreign country accounted for more than 4% of the Company’s net sales. Operating income by business segment is based on net sales less identifiable operating expenses and allocations and includes profits recorded on sales to other operating units of the Company. Long-lived assets consist of property, plant, and equipment, net of depreciation; goodwill; other intangible assets, net of amortization; and other non-current assets. Long-lived assets by geographical area are based on the location of facilities.

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