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Revenue from Contracts with Customers | 3 Months Ended
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Sep. 27, 2020
Revenue From Contract With Customer [Abstract] |
Revenue from Contracts with Customers | Revenue from Contracts with Customers We generate revenue from the production of parts sold to automotive and light-truck Original Equipment Manufacturers (“OEMs”), or Tier 1 suppliers at the direction of the OEM, under long-term supply agreements supporting new vehicle production. Such agreements also require related production of service parts subsequent to the initial vehicle production periods. Additionally, we generate revenue from the production of parts sold in aftermarket service channels and to non-automotive commercial customers. Contract Balances: We have no material contract assets as of September 27, 2020. Contract liability balances primarily include discounts recognized as a reduction in sales at the point of revenue recognition, but which will be applied by the customer agreement after the end of the reporting period. Contract liability balances are included in Other Accrued Liabilities in the accompanying Condensed Consolidated Balance Sheets. The activity related to contract liability balances during the three month period ended September 27, 2020 was as follows (thousands of dollars):
Balance, June 28, 2020 |  | $ | 373 |
Discounts Recorded as a Reduction in Sales |  |  | 118 |
Payments of Discounts to Customers |  |  | (129 | )
Other |  |  | 40 |
Balance, September 27, 2020 |  | $ | 402 |
Revenue by Product Group and Customer: Revenue by product group for the periods presented was as follows (thousands of dollars):
|  | Three Months Ended |  |
|  | September 27, 2020 |  |  | September 29, 2019 |  |
Door Handles & Exterior Trim |  | $ | 34,091 |  |  | $ | 31,391 |  |
Keys & Locksets |  |  | 32,736 |  |  |  | 32,469 |  |
Power Access |  |  | 20,620 |  |  |  | 19,458 |  |
Latches |  |  | 13,835 |  |  |  | 13,897 |  |
Aftermarket & OE Service |  |  | 13,137 |  |  |  | 10,913 |  |
Driver Controls |  |  | 9,787 |  |  |  | 9,785 |  |
Other |  |  | 2,028 |  |  |  | 2,049 |  |
|  | $ | 126,234 |  |  | $ | 119,962 |  |
Revenue by customer or customer group for the periods presented was as follows (thousands of dollars):
|  | Three Months Ended |  |
|  | September 27, 2020 |  |  | September 29, 2019 |  |
General Motors Company |  | $ | 37,756 |  |  | $ | 33,838 |  |
Fiat Chrysler Automobiles |  |  | 25,083 |  |  |  | 25,482 |  |
Ford Motor Company |  |  | 15,846 |  |  |  | 15,812 |  |
Commercial and Other OEM Customers |  |  | 21,434 |  |  |  | 21,346 |  |
Tier 1 Customers |  |  | 17,495 |  |  |  | 17,747 |  |
Hyundai / Kia |  |  | 8,620 |  |  |  | 5,737 |  |
|  | $ | 126,234 |  |  | $ | 119,962 |  |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 + Details
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