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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Jul. 02, 2017
Current Assets:    
Cash and cash equivalents $ 8,385 $ 8,361
Receivables, net 60,587 64,933
Inventories:    
Finished products 11,748 9,976
Work in process 9,758 9,328
Purchased materials 25,349 20,682
Excess and obsolete reserve (4,568) (4,510)
Inventories, net 42,287 35,476
Other current assets 23,278 20,235
Total current assets 134,537 129,005
Investment in joint ventures 19,724 16,840
Deferred income taxes 1,558 256
Other long-term assets 17,182 16,022
Property, plant and equipment 260,901 251,519
Less: accumulated depreciation (145,380) (139,928)
Net property, plant and equipment 115,521 111,591
Total assets 288,522 273,714
Current Liabilities:    
Accounts payable 37,405 39,679
Accrued Liabilities:    
Payroll and benefits 11,082 13,055
Environmental 1,296 1,308
Warranty 6,012 5,550
Other 6,402 8,303
Total current liabilities 62,197 67,895
Borrowings under credit facility 46,000 30,000
Accrued pension obligations 1,551 1,492
Accrued postretirement obligations 857 1,003
Other long-term liabilities 2,061 610
Shareholders’ Equity:    
Common stock, authorized 12,000,000 shares, $.01 par value, 7,251,937 issued shares at December 31, 2017 and 7,216,103 issued shares at July 2, 2017 72 72
Capital in excess of par value 94,603 93,813
Retained earnings 230,234 225,913
Accumulated other comprehensive loss (33,676) (32,888)
Less: treasury stock, at cost (3,618,182 shares at December 31, 2017 and 3,619,487 shares at July 2, 2017) (135,801) (135,822)
Total STRATTEC SECURITY CORPORATION shareholders’ equity 155,432 151,088
Non-controlling interest 20,424 21,626
Total shareholders’ equity 175,856 172,714
Total liabilities and shareholders' equity $ 288,522 $ 273,714