Equity (Loss) Earnings of Joint Ventures (Tables)

6 Months Ended

Dec. 31, 2023

Summarize of Related Party Transaction

The following table summarizes these related party transactions for the periods indicated below (in thousands):

	Three Months Ended				Six Months Ended
	December 31, 2023		January 1, 2023		December 31, 2023		January 1, 2023
Engineering, research and design fee charged to    ADAC-STRATTEC LLC	$	2,111	$	1,990	$	4,405	$	4,098
Sales to ADAC	$	2,021	$	2,528	$	4,855	$	5,320

VAST LLC

Summarized Statements of Operations

The following are summarized statements of operations for VAST LLC (in thousands):

	Three Months Ended					Six Months Ended
	December 31, 2023			January 1, 2023		December 31, 2023			January 1, 2023
Net sales	$	—		$	56,953	$	—		$	123,099
Cost of goods sold		—			45,969		—			101,751
Gross profit		—			10,984		—			21,348
Engineering, selling and administrative expenses		—			9,227		—			17,759
Income from operations		—			1,757		—			3,589
Other income, net		—			386		—			458
Income before provision for income taxes		—			2,143		—			4,047
Provision for income taxes		—			382		—			750
Net income	$	—		$	1,761	$	—		$	3,297
STRATTEC's share of VAST LLC net income		—			587		—			1,099
Intercompany profit elimination		—			1		—			16
STRATTEC’s equity earnings of VAST LLC      prior to impact of sale of VAST LLC		—			588		—			1,115
Loss on sale of VAST LLC		(4	)		—		(269	)		—
STRATTEC’s equity (loss) earnings of VAST LLC	$	(4	)	$	588	$	(269	)	$	1,115

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				Six Months Ended
	December 31, 2023		January 1, 2023		December 31, 2023		January 1, 2023
Sales to VAST LLC	$	—	$	17	$	—	$	27
Purchases from VAST LLC	$	—	$	13	$	—	$	27
Expenses charged to VAST LLC	$	—	$	161	$	—	$	242
Expenses charged from VAST LLC	$	—	$	209	$	—	$	452