Segment Information (Tables)
|
12 Months Ended |
Jun. 28, 2026 |
|---|
| Segment Reporting [Abstract] |
|
| Schedule of Significant Expenses Disclosed in Consolidated Statements of Income |
The significant expenses that are regularly provided to the CODM are disclosed in the consolidated statements of income as a part of Net income attributable to Strattec and were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Years Ended |
|
|
|
June 28, 2026 |
|
|
June 29, 2025 |
|
|
June 30, 2024 |
|
Net sales |
|
$ |
579,392 |
|
|
$ |
565,066 |
|
|
$ |
537,766 |
|
|
|
|
|
|
|
|
|
|
|
Direct material costs |
|
|
318,628 |
|
|
|
315,320 |
|
|
|
301,660 |
|
Labor and overhead costs |
|
|
165,399 |
|
|
|
165,169 |
|
|
|
170,638 |
|
Selling costs |
|
|
10,843 |
|
|
|
10,691 |
|
|
|
9,267 |
|
Administrative costs |
|
|
31,294 |
|
|
|
23,888 |
|
|
|
15,487 |
|
Engineering costs |
|
|
26,705 |
|
|
|
27,214 |
|
|
|
22,900 |
|
Interest income |
|
|
(3,500 |
) |
|
|
(2,039 |
) |
|
|
(572 |
) |
Interest expense |
|
|
359 |
|
|
|
1,007 |
|
|
|
900 |
|
Other income, net |
|
|
(3,298 |
) |
|
|
(820 |
) |
|
|
(2,717 |
) |
Income tax expense |
|
|
11,339 |
|
|
|
5,717 |
|
|
|
3,775 |
|
Net income |
|
|
21,623 |
|
|
|
18,919 |
|
|
|
16,428 |
|
Net income attributable to non-controlling interest |
|
|
1,025 |
|
|
|
234 |
|
|
|
115 |
|
Net income attributable to Strattec |
|
$ |
20,598 |
|
|
$ |
18,685 |
|
|
$ |
16,313 |
|
|
| Schedule of Net Sales and Net Tangible Long Lived Assets |
Sales and net tangible long-lived assets (property, plant and equipment, net and right-of-use assets) are presented by country; sales are attributed based on the location to which products were shipped (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Sales |
|
|
Tangible Long-Lived Assets |
|
|
Years Ended |
|
|
As of |
|
|
June 28, 2026 |
|
|
June 29, 2025 |
|
|
June 30, 2024 |
|
|
June 28, 2026 |
|
|
June 29, 2025 |
|
United States |
$ |
387,046 |
|
|
$ |
381,405 |
|
|
$ |
382,386 |
|
|
$ |
24,142 |
|
|
$ |
26,186 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mexico |
$ |
58,967 |
|
|
$ |
52,845 |
|
|
$ |
42,979 |
|
|
$ |
47,443 |
|
|
$ |
53,633 |
|
Canada |
|
69,443 |
|
|
|
59,717 |
|
|
|
57,061 |
|
|
|
43 |
|
|
|
20 |
|
Korea |
|
50,610 |
|
|
|
56,855 |
|
|
|
44,735 |
|
|
|
- |
|
|
|
9 |
|
Other |
|
13,326 |
|
|
|
14,244 |
|
|
|
10,605 |
|
|
|
388 |
|
|
|
504 |
|
|
$ |
579,392 |
|
|
$ |
565,066 |
|
|
$ |
537,766 |
|
|
$ |
72,016 |
|
|
$ |
80,352 |
|
|
| Schedule of Sales by Product Group |
Sales by product group were as follows (in thousands and percent of total net sales):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Years Ended |
|
|
June 28, 2026 |
|
June 29, 2025 |
|
June 30, 2024 |
|
|
Net Sales |
|
|
% |
|
Net Sales |
|
|
% |
|
Net Sales |
|
|
% |
Door handles & exterior trim |
|
$ |
147,317 |
|
|
25% |
|
$ |
140,554 |
|
|
25% |
|
$ |
135,355 |
|
|
25% |
Power access solutions |
|
|
141,077 |
|
|
24% |
|
|
138,402 |
|
|
24% |
|
|
126,680 |
|
|
24% |
Keys & locksets |
|
|
118,659 |
|
|
21% |
|
|
99,788 |
|
|
18% |
|
|
106,374 |
|
|
20% |
Latches |
|
|
71,684 |
|
|
12% |
|
|
75,359 |
|
|
13% |
|
|
67,844 |
|
|
13% |
User interface controls |
|
|
49,675 |
|
|
9% |
|
|
53,405 |
|
|
9% |
|
|
47,637 |
|
|
9% |
Aftermarket and service |
|
|
40,121 |
|
|
7% |
|
|
46,703 |
|
|
8% |
|
|
42,732 |
|
|
8% |
Other |
|
|
10,859 |
|
|
2% |
|
|
10,855 |
|
|
2% |
|
|
11,144 |
|
|
2% |
|
|
$ |
579,392 |
|
|
100% |
|
$ |
565,066 |
|
|
100% |
|
$ |
537,766 |
|
|
100% |
|
| Schedule of Sales to Largest Customers |
Sales to and receivables from customers that individually accounted for 10% or more of the Company's total net sales were as follows (in thousands and percent of total):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Years Ended |
|
|
June 28, 2026 |
|
June 29, 2025 |
|
June 30, 2024 |
|
|
Net Sales |
|
|
% |
|
Net Sales |
|
|
% |
|
Net Sales |
|
|
% |
General Motors Company |
|
$ |
158,712 |
|
|
27% |
|
$ |
165,701 |
|
|
29% |
|
$ |
163,097 |
|
|
30% |
Ford Motor Company |
|
|
120,555 |
|
|
21% |
|
|
129,193 |
|
|
23% |
|
|
114,937 |
|
|
21% |
Stellantis |
|
|
94,226 |
|
|
16% |
|
|
65,821 |
|
|
12% |
|
|
77,665 |
|
|
14% |
|
|
$ |
373,493 |
|
|
64% |
|
$ |
360,715 |
|
|
64% |
|
$ |
355,699 |
|
|
66% |
|
| Schedule of Receivables from Largest Customers |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Years Ended |
|
|
June 28, 2026 |
|
June 29, 2025 |
|
|
Receivables |
|
|
% |
|
Receivables |
|
|
% |
General Motors Company |
|
$ |
24,144 |
|
|
24% |
|
$ |
26,581 |
|
|
26% |
Ford Motor Company |
|
|
18,355 |
|
|
19% |
|
|
19,916 |
|
|
20% |
Stellantis |
|
|
17,087 |
|
|
17% |
|
|
14,812 |
|
|
15% |
|
|
$ |
59,586 |
|
|
60% |
|
$ |
61,309 |
|
|
60% |
|