Equity (Loss) Earnings of Joint Ventures

12 Months Ended

Jul. 01, 2012

Investment in Joint Ventures and Equity (Loss) Earnings of Joint Ventures [Abstract]

EQUITY (LOSS) EARNINGS OF JOINT VENTURE

EQUITY (LOSS) EARNINGS OF JOINT VENTURE

As discussed under Investment in Joint Ventures, we hold a one-third interest in VAST LLC, for which we exercise significant influence but do not control and are not the primary beneficiary. Our investment in VAST LLC is accounted for using the equity method. The following are summarized statements of operations and summarized balance sheet data for VAST LLC (thousands of dollars):

	Years Ended
	July 1, 2012			July 3, 2011			June 27, 2010
Net sales	$	76,373		$	78,002		$	67,711
Cost of goods sold		65,211			63,286			53,844
Gross profit		11,162			14,716			13,867
Engineering, selling and administrative expense		14,930			9,527			8,675
(Loss) income from operations		(3,768	)		5,189			5,192
Other income (expense), net		246			(247	)		(620	)
(Loss) income before provision for Income taxes		(3,522	)		4,942			4,572
(Benefit) provision for income taxes		(297	)		1,202			1,035
Net (loss) income		(3,225	)		3,740			3,537
Net income attributable to non-controlling interest		—			—			(537	)
Net (loss) income attributable to VAST LLC	$	(3,225	)	$	3,740		$	3,000
STRATTEC’s share of VAST LLC net (loss) income	$	(1,075	)	$	1,247		$	1,000
Intercompany profit eliminations		4			(1	)		8
STRATTEC’s equity (loss) earnings of joint ventures	$	(1,071	)	$	1,246		$	1,008

	July 1, 2012		July 3, 2011
Cash and cash equivalents	$	5,622	$	6,658
Receivables, net		16,025		15,267
Inventories, net		17,756		13,084
Other current assets		10,207		7,153
Total current assets		49,610		42,162
Property, plant and equipment, net		20,753		13,278
Other long-term assets		3,585		3,136
Total assets	$	73,948	$	58,576
Current liabilities	$	37,843	$	35,802
Long-term liabilities		11,381		626
Total liabilities	$	49,224	$	36,428
Net assets	$	24,724	$	22,148
STRATTEC’s share of net assets	$	8,241	$	7,383