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Investment in Joint Ventures And Majority Owned Subsidiaries (Tables)
 12 Months Ended
Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]  
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
Schedule of Net Purchase Price Allocation The allocation of the $18.5 million net purchase price was as follows (millions of dollars):

 

 

 

Cash Received (Paid)

 

Sale of STRATTEC's one-third ownership interest in VAST LLC

 

$

28.2

 

Purchase of 20 percent non-controlling interest in SPA

 

 

(9.0

)

Purchase of net assets of VAST LLC's Korean branch office

 

 

(0.7

)

Net purchase price received by STRATTEC

 

$

18.5