XML 34 R24.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Equity (Loss) Earnings of Joint Ventures (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2024
Summarize of Related Party Transaction | The following table summarizes these related party transactions for the periods indicated below (in thousands):
| Years Ended
| June 30, 2024 |  |  | July 2, 2023
Engineering, research and design fee charged to ADAC-STRATTEC LLC | $ | 9,511 |  |  | $ | 8,533
Sales to ADAC | $ | 9,718 |  |  | $ | 12,198
| Years Ended
| June 30, 2024 |  |  | July 2, 2023
Accounts receivable due from ADAC | $ | 833 |  |  | $ | 3,903
Accounts payable to ADAC | $ | 1,679 |  |  | $ | 4,928
VAST LLC |
Summarized Statements of Operations and Balance Sheet Data | As a result of the Restructuring Agreement, STRATTEC no longer held an ownership interest in VAST LLC as of July 2, 2023. The following are summarized statements of operations for VAST LLC (thousands of dollars):
|  | Years Ended |
|  | June 30, 2024 |  |  | July 2, 2023 |
Net sales |  | $ | — |  |  | $ | 207,362 |
Cost of goods sold |  |  | — |  |  |  | 171,851 |
Gross profit |  |  | — |  |  |  | 35,511 |
Engineering, selling and administrative expense |  |  | — |  |  |  | 31,302 |
Income from operations |  |  | — |  |  |  | 4,209 |
Other income, net |  |  | — |  |  |  | 2,304 |
Loss on disposal of investment in Brazil |  |  | — |  |  |  | (1,592 | )
Income before provision for income taxes |  |  | — |  |  |  | 4,921 |
Provision for income taxes |  |  | — |  |  |  | 672 |
Net income |  | $ | — |  |  | $ | 4,249 |
STRATTEC’s share of VAST LLC net income |  | $ | — |  |  | $ | 1,416 |
Intercompany profit eliminations |  |  | — |  |  |  | 33 |
STRATTEC’s equity earnings of VAST LLC prior to loss on sale |  |  | — |  |  |  | 1,449 |
(Loss) gain on sale of VAST LLC |  |  | (331 | ) |  |  | 110 |
STRATTEC's equity (loss) earnings of VAST LLC |  | $ | (331 | ) |  | $ | 1,559 |
Summarize of Related Party Transaction | The following tables summarize the related party transactions with VAST LLC for the periods indicated (thousands of dollars):
|  | Years Ended |
|  | June 30, 2024 |  |  | July 2, 2023 |
Sales to VAST LLC |  | $ | — |  |  | $ | 64 |
Purchases from VAST LLC |  | $ | — |  |  | $ | 49 |
Expenses charged to VAST LLC |  | $ | — |  |  | $ | 382 |
Expenses charged from VAST LLC |  | $ | — |  |  | $ | 761 |

X
- 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/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph (a) -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedFinancialStatementsTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=strt_VehicleAccessSystemsTechnologyLlcMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |