XML 55 R101.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION (Details 3) - USD ($)
$ in Thousands
Dec. 28, 2019
Dec. 29, 2018
Dec. 30, 2017
Dec. 31, 2016
Current assets:        
Cash and cash equivalents $ 353,542 $ 313,210    
Receivables, less allowance of $9,548 in 2019 and $8,277 in 2018 480,000 483,963    
Inventories 374,565 383,566    
Contract with Customer, Asset, Net, Current 141,322 112,525    
Prepaid expenses, restricted cash, and other assets 32,043 42,800    
Refundable income taxes 6,947 4,576    
Total current assets 1,388,419 1,340,640    
Property, plant and equipment, at cost 1,245,261 1,160,865    
Less accumulated depreciation and amortization 687,132 646,873    
Net property, plant and equipment 558,129 513,992    
Goodwill 428,864 385,207 $ 337,720  
Other intangible assets 175,742 175,956    
Investment in subsidiaries and intercompany accounts 0 0    
Other assets 212,257 114,479    
Total assets 2,763,411 2,530,274 2,602,250  
Current liabilities:        
Current installments of long-term debt 760 779    
Notes payable to banks 21,774 10,678    
Accounts payable 197,957 218,115    
Accrued employee compensation and benefits 83,528 79,291    
Accrued expenses 201,681 91,942    
Dividends payable 8,079 8,230    
Total current liabilities 513,779 409,035    
Deferred income taxes 47,955 43,489    
Long-term debt, excluding current installments 764,944 741,822    
Defined benefit pension liability 140,007 143,904    
Other noncurrent liabilities 139,835 56,501    
Shareholders’ equity:        
Common stock of $1 par value 27,900 27,900    
Additional paid-in capital 0 0    
Retained earnings 2,140,948 2,027,596    
Accumulated other comprehensive income (loss) (313,422) (303,185)    
Cost of treasury stock, common shares of 6,356,103 in 2019 and 5,951,971 in 2018 (743,942) (692,549)    
Total Valmont Industries, Inc. shareholders’ equity 1,111,484 1,059,762    
Noncontrolling interest in consolidated subsidiaries 45,407 75,761    
Total shareholders’ equity 1,156,891 1,135,523 $ 1,151,795 $ 982,586
Total liabilities and shareholders’ equity 2,763,411 2,530,274    
Eliminations        
Current assets:        
Cash and cash equivalents 0 0    
Receivables, less allowance of $9,548 in 2019 and $8,277 in 2018 0 0    
Inventories (2,757) (2,402)    
Contract with Customer, Asset, Net, Current 0 0    
Prepaid expenses, restricted cash, and other assets 0 0    
Refundable income taxes 0 0    
Total current assets (2,757) (2,402)    
Property, plant and equipment, at cost 0 0    
Less accumulated depreciation and amortization 0 0    
Net property, plant and equipment 0 0    
Goodwill 0 0    
Other intangible assets 0 0    
Investment in subsidiaries and intercompany accounts (3,397,876) (3,381,139)    
Other assets 0 0    
Total assets (3,400,633) (3,383,541)    
Current liabilities:        
Current installments of long-term debt 0 0    
Notes payable to banks 0 0    
Accounts payable 0 0    
Accrued employee compensation and benefits 0 0    
Accrued expenses 0 0    
Dividends payable 0 0    
Total current liabilities 0 0    
Deferred income taxes 0 0    
Long-term debt, excluding current installments (123,560) (166,729)    
Defined benefit pension liability 0 0    
Other noncurrent liabilities 0 0    
Shareholders’ equity:        
Common stock of $1 par value (1,106,907) (1,106,632)    
Additional paid-in capital (1,270,442) (1,270,442)    
Retained earnings (1,154,585) (1,092,093)    
Accumulated other comprehensive income (loss) 254,861 252,355    
Cost of treasury stock, common shares of 6,356,103 in 2019 and 5,951,971 in 2018 0 0    
Total Valmont Industries, Inc. shareholders’ equity (3,277,073) (3,216,812)    
Noncontrolling interest in consolidated subsidiaries 0 0    
Total shareholders’ equity (3,277,073) (3,216,812)    
Total liabilities and shareholders’ equity (3,400,633) (3,383,541)    
Parent        
Current assets:        
Cash and cash equivalents 182,453 104,256    
Receivables, less allowance of $9,548 in 2019 and $8,277 in 2018 134,972 134,943    
Inventories 130,686 138,158    
Contract with Customer, Asset, Net, Current 65,528 50,271    
Prepaid expenses, restricted cash, and other assets 13,820 21,858    
Refundable income taxes 6,947 4,576    
Total current assets 534,406 454,062    
Property, plant and equipment, at cost 635,322 579,046    
Less accumulated depreciation and amortization 413,054 390,438    
Net property, plant and equipment 222,268 188,608    
Goodwill 20,108 20,108    
Other intangible assets 763 76    
Investment in subsidiaries and intercompany accounts 1,339,206 1,286,545    
Other assets 88,549 47,674    
Total assets 2,205,300 1,997,073    
Current liabilities:        
Current installments of long-term debt 0 0    
Notes payable to banks 0 0    
Accounts payable 68,677 68,304    
Accrued employee compensation and benefits 45,294 41,418    
Accrued expenses 147,498 25,936    
Dividends payable 8,079 8,230    
Total current liabilities 269,548 143,888    
Deferred income taxes 16,925 14,376    
Long-term debt, excluding current installments 734,571 733,964    
Defined benefit pension liability 0 0    
Other noncurrent liabilities 72,772 45,083    
Shareholders’ equity:        
Common stock of $1 par value 27,900 27,900    
Additional paid-in capital 0 0    
Retained earnings 2,140,948 2,027,596    
Accumulated other comprehensive income (loss) (313,422) (303,185)    
Cost of treasury stock, common shares of 6,356,103 in 2019 and 5,951,971 in 2018 (743,942) (692,549)    
Total Valmont Industries, Inc. shareholders’ equity 1,111,484 1,059,762    
Noncontrolling interest in consolidated subsidiaries 0 0    
Total shareholders’ equity 1,111,484 1,059,762    
Total liabilities and shareholders’ equity 2,205,300 1,997,073    
Guarantors        
Current assets:        
Cash and cash equivalents 6,169 5,518    
Receivables, less allowance of $9,548 in 2019 and $8,277 in 2018 94,090 75,204    
Inventories 45,673 37,019    
Contract with Customer, Asset, Net, Current 47,402 35,200    
Prepaid expenses, restricted cash, and other assets 717 746    
Refundable income taxes 0 0    
Total current assets 194,051 153,687    
Property, plant and equipment, at cost 175,862 172,050    
Less accumulated depreciation and amortization 90,384 93,374    
Net property, plant and equipment 85,478 78,676    
Goodwill 141,581 110,562    
Other intangible assets 43,933 27,452    
Investment in subsidiaries and intercompany accounts 1,150,458 1,161,612    
Other assets 4,323 0    
Total assets 1,619,824 1,531,989    
Current liabilities:        
Current installments of long-term debt 0 0    
Notes payable to banks 0 0    
Accounts payable 21,464 21,081    
Accrued employee compensation and benefits 6,344 7,186    
Accrued expenses 11,353 10,132    
Dividends payable 0 0    
Total current liabilities 39,161 38,399    
Deferred income taxes 0 0    
Long-term debt, excluding current installments 123,560 166,729    
Defined benefit pension liability 0 0    
Other noncurrent liabilities 3,168 620    
Shareholders’ equity:        
Common stock of $1 par value 457,950 457,950    
Additional paid-in capital 162,906 162,906    
Retained earnings 753,652 624,394    
Accumulated other comprehensive income (loss) 79,427 80,991    
Cost of treasury stock, common shares of 6,356,103 in 2019 and 5,951,971 in 2018 0 0    
Total Valmont Industries, Inc. shareholders’ equity 1,453,935 1,326,241    
Noncontrolling interest in consolidated subsidiaries 0 0    
Total shareholders’ equity 1,453,935 1,326,241    
Total liabilities and shareholders’ equity 1,619,824 1,531,989    
Non- Guarantors        
Current assets:        
Cash and cash equivalents 164,920 203,436    
Receivables, less allowance of $9,548 in 2019 and $8,277 in 2018 250,938 273,816    
Inventories 200,963 210,791    
Contract with Customer, Asset, Net, Current 28,392 27,054    
Prepaid expenses, restricted cash, and other assets 17,506 20,196    
Refundable income taxes 0 0    
Total current assets 662,719 735,293    
Property, plant and equipment, at cost 434,077 409,769    
Less accumulated depreciation and amortization 183,694 163,061    
Net property, plant and equipment 250,383 246,708    
Goodwill 267,175 254,537    
Other intangible assets 131,046 148,428    
Investment in subsidiaries and intercompany accounts 908,212 932,982    
Other assets 119,385 66,805    
Total assets 2,338,920 2,384,753    
Current liabilities:        
Current installments of long-term debt 760 779    
Notes payable to banks 21,774 10,678    
Accounts payable 107,816 128,730    
Accrued employee compensation and benefits 31,890 30,687    
Accrued expenses 42,830 55,874    
Dividends payable 0 0    
Total current liabilities 205,070 226,748    
Deferred income taxes 31,030 29,113    
Long-term debt, excluding current installments 30,373 7,858    
Defined benefit pension liability 140,007 143,904    
Other noncurrent liabilities 63,895 10,798    
Shareholders’ equity:        
Common stock of $1 par value 648,957 648,682    
Additional paid-in capital 1,107,536 1,107,536    
Retained earnings 400,933 467,699    
Accumulated other comprehensive income (loss) (334,288) (333,346)    
Cost of treasury stock, common shares of 6,356,103 in 2019 and 5,951,971 in 2018 0 0    
Total Valmont Industries, Inc. shareholders’ equity 1,823,138 1,890,571    
Noncontrolling interest in consolidated subsidiaries 45,407 75,761    
Total shareholders’ equity 1,868,545 1,966,332    
Total liabilities and shareholders’ equity $ 2,338,920 $ 2,384,753