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Equity Earnings (Loss) of Joint Ventures (Tables) | 12 Months Ended
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Jun. 29, 2014
VAST LLC |
Summarized Statements of Operations and Balance Sheet Data | The following are summarized statements of operations and summarized balance sheet data for VAST LLC (thousands of dollars):
|  | Years Ended |
|  | June 29, 2014 |  |  | June 30, 2013 |  |  | July 1, 2012 |
Net sales |  | $ | 111,844 |  |  | $ | 92,388 |  |  | $ | 76,373 |
Cost of goods sold |  |  | 94,701 |  |  |  | 76,759 |  |  |  | 65,211 |
Gross profit |  |  | 17,143 |  |  |  | 15,629 |  |  |  | 11,162 |
Engineering, selling and administrative expense |  |  | 14,169 |  |  |  | 17,270 |  |  |  | 14,930 |
Income (loss) from operations |  |  | 2,974 |  |  |  | (1,641 | ) |  |  | (3,768 | )
Other income, net |  |  | 1,809 |  |  |  | 497 |  |  |  | 246 |
Income (loss) before provision for Income taxes |  |  | 4,783 |  |  |  | (1,144 | ) |  |  | (3,522 | )
Provision (benefit) for income taxes |  |  | 810 |  |  |  | (690 | ) |  |  | (297 | )
Net income (loss) |  | $ | 3,973 |  |  | $ | (454 | ) |  | $ | (3,225 | )
STRATTEC’s share of VAST LLC net Income (loss) |  | $ | 1,324 |  |  | $ | (151 | ) |  | $ | (1,075 | )
Intercompany profit eliminations |  |  | — |  |  |  | 4 |  |  |  | 4 |
STRATTEC’s equity earnings (loss) of VAST LLC |  | $ | 1,324 |  |  | $ | (147 | ) |  | $ | (1,071 | )
|  | June 29, 2014 |  |  | June 30, 2013 |
Cash and cash equivalents |  | $ | 8,267 |  |  | $ | 3,801 |
Receivables, net |  |  | 24,907 |  |  |  | 23,594 |
Inventories, net |  |  | 12,649 |  |  |  | 10,693 |
Other current assets |  |  | 7,720 |  |  |  | 7,892 |
Total current assets |  |  | 53,543 |  |  |  | 45,980 |
Property, plant and equipment, net |  |  | 23,949 |  |  |  | 23,470 |
Other long-term assets |  |  | 2,779 |  |  |  | 4,218 |
Total assets |  | $ | 80,271 |  |  | $ | 73,668 |
Current liabilities |  | $ | 44,436 |  |  | $ | 36,128 |
Long-term liabilities |  |  | 6,571 |  |  |  | 11,808 |
Total liabilities |  | $ | 51,007 |  |  | $ | 47,936 |
Net assets |  | $ | 29,264 |  |  | $ | 25,732 |
STRATTEC’s share of VAST LLC net assets |  | $ | 9,755 |  |  | $ | 8,577 |
Summarize of Related Party Transaction | The following tables summarize the related party transactions with VAST LLC for the periods indicated (thousands of dollars):
|  | 2014 |  |  | 2013 |  |  | 2012 |
Sales to VAST LLC |  | $ | 231 |  |  | $ | 141 |  |  | $ | 170 |
Purchases from VAST LLC |  | $ | 233 |  |  | $ | 219 |  |  | $ | 207 |
Expenses charged to VAST LLC |  | $ | 743 |  |  | $ | 517 |  |  | $ | 286 |
Expenses charged from VAST LLC |  | $ | 1,261 |  |  | $ | 729 |  |  | $ | 699 |
|  | June 29, 2014 |  |  | June 30, 2013 |
Accounts receivable from VAST LLC |  | $ | 119 |  |  | $ | 143 |
Long-term loan receivable from VAST LLC |  | $ | 285 |  |  | $ | — |
Accounts payable to VAST LLC |  | $ | 98 |  |  | $ | 128 |
NextLock LLC |
Summarized Statements of Operations and Balance Sheet Data | The following are summarized statements of operations and summarized balance sheet data for NextLock LLC (thousands of dollars):
|  | June 29, 2014 |  |  | June 30, 2013 |
Engineering, selling and administrative expense |  | $ | 720 |  |  | $ | 153 |
Loss from operations |  |  | (720 | ) |  |  | (153 | )
Net (loss) |  | $ | (720 | ) |  | $ | (153 | )
STRATTEC’s equity loss of NextLock LLC |  | $ | (367 | ) |  | $ | (78 | )
|  | June 29, 2014 |  |  | June 30, 2013 |
Cash and cash equivalents |  | $ | 611 |  |  | $ | 1,370 |
Property, plant and equipment, net |  |  | 20 |  |  |  | — |
Total assets |  | $ | 631 |  |  | $ | 1,370 |
Current liabilities |  | $ | 4 |  |  | $ | 23 |
Net assets |  | $ | 627 |  |  | $ | 1,347 |
STRATTEC’s share of NextLock LLC net assets |  | $ | 320 |  |  | $ | 687 |

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
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