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Equity Earnings of Joint Ventures (Tables) - VAST LLC | 3 Months Ended
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Sep. 27, 2020
Summarized Statements of Operations | The following are summarized statements of operations for VAST LLC (in thousands):
|  | Three Months Ended |
|  | September 27, 2020 |  |  | September 29, 2019 |
Net Sales |  | $ | 50,411 |  |  | $ | 42,567 |
Cost of Goods Sold |  |  | 40,591 |  |  |  | 34,658 |
Gross Profit |  |  | 9,820 |  |  |  | 7,909 |
Engineering, Selling and Administrative Expenses |  |  | 6,603 |  |  |  | 6,681 |
Income From Operations |  |  | 3,217 |  |  |  | 1,228 |
Other (Expense) Income, net |  |  | (149 | ) |  |  | 860 |
Income before Provision for Income Taxes |  |  | 3,068 |  |  |  | 2,088 |
Provision for Income Taxes |  |  | 592 |  |  |  | 628 |
Net Income |  | $ | 2,476 |  |  | $ | 1,460 |
STRATTEC’s Equity Earnings of VAST LLC |  | $ | 825 |  |  | $ | 487 |
Summarize of Related Party Transaction | The following table summarizes these related party transactions with VAST LLC for the periods indicated below (in thousands):
|  | Three Months Ended |  |
|  | September 27, 2020 |  |  | September 29, 2019 |  |
Sales to VAST LLC |  | $ | 1,216 |  |  | $ | 891 |  |
Purchases from VAST LLC |  | $ | 187 |  |  | $ | 97 |  |
Expenses Charged to VAST LLC |  | $ | 507 |  |  | $ | 831 |  |
Expenses Charged from VAST LLC |  | $ | 292 |  |  | $ | 226 |  |

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- Definition Tabular disclosure of condensed financial statements, including, but not limited to, the balance sheet, income statement, and statement of cash flows. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
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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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