XML 21 R3.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jul. 02, 2023
Jul. 03, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 20,571 $ 8,774
Receivables, less allowance for doubtful accounts of $500 at July 2, 2023 and July 3, 2022 89,811 75,827
Inventories, net 77,597 80,482
Customer tooling in progress, net 20,800 10,828
Income taxes recoverable 2,711 2,492
Value added tax recoverable 7,912 4,518
Other current assets 6,380 5,311
Total current assets 225,782 188,232
INVESTMENT IN JOINT VENTURES   26,654
DEFERRED INCOME TAXES 13,619 7,081
OTHER LONG-TERM ASSETS 7,083 5,438
PROPERTY, PLANT AND EQUIPMENT, NET 94,446 91,729
Total assets 340,930 319,134
CURRENT LIABILITIES:    
Accounts payable 57,927 43,950
Accrued liabilities:    
Payroll and benefits 22,616 17,959
Value added tax payable 6,499 3,454
Income tax payable 2,607 249
Environmental 1,390 1,390
Warranty 9,725 8,100
Other 8,222 6,427
Total current liabilities 108,986 81,529
Commitments and Contingencies
BORROWINGS UNDER CREDIT FACILITIES 13,000 11,000
ACCRUED PENSION OBLIGATIONS 1,206 1,259
ACCRUED POSTRETIREMENT OBLIGATIONS 1,157 1,329
OTHER LONG-TERM LIABILITIES 5,557 4,070
SHAREHOLDERS’ EQUITY:    
Common stock, authorized 18,000,000, $.01 par value, issued 7,530,170 shares at July 2, 2023 and 7,481,169 shares at July 3, 2022 75 75
Capital in excess of par value 100,309 101,524
Retained earnings 234,299 240,969
Accumulated other comprehensive loss (14,194) (18,588)
Less: Treasury stock at cost (3,601,124 shares at July 2, 2023 and 3,604,466 shares at July 3, 2022) (135,526) (135,580)
Total STRATTEC SECURITY CORPORATION shareholders’ equity 184,963 188,400
Non-controlling interest 26,061 31,547
Total shareholders’ equity 211,024 219,947
Total liabilities and shareholders' equity $ 340,930 $ 319,134