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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

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