Equity Earnings (Loss) Earnings of Joint Ventures (Tables)

3 Months Ended

Oct. 02, 2016

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

	Three Months Ended
	October 2, 2016		September 27, 2015
Net Sales	$	25,009	$	26,348
Cost of Goods Sold		20,093		21,914
Gross Profit		4,916		4,434
Engineering, Selling and Administrative Expenses		4,015		3,625
Income From Operations		901		809
Other Income (Expense), net		441		(312	)
Income before Provision for Income Taxes		1,342		497
Provision for Income Taxes		172		94
Net Income	$	1,170	$	403
STRATTEC’s Share of VAST LLC Net Income	$	390	$	134
Intercompany Profit Elimination		—		(1	)
STRATTEC’s Equity Earnings of VAST LLC	$	390	$	133

SAL, LLC

Summarized Statements of Operations

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

	Three Months Ended
	October 2, 2016			September 27, 2015
Net Sales	$	100		$	60
Cost of Goods Sold		87			55
Gross Profit		13			5
Engineering, Selling and Administrative Expenses		337			246
Loss From Operations		(324	)		(241	)
Other Expense, net		(12	)		(8	)
Net Loss	$	(336	)	$	(249	)
STRATTEC’s Share of Equity Loss of SAL LLC	$	(328	)	$	(249	)
Loss on Loan to SAL LLC		—			(150	)
Loss on SAL LLC Credit Facility Guarantee		—			(27	)
STRATTEC’s Equity Loss of SAL LLC	$	(328	)	$	(426	)

VAST LLC and SAL LLC

Summarize of Related Party Transaction

We have sales of component parts to VAST LLC and SAL LLC, purchases of component parts from VAST LLC, expenses charged to VAST LLC for engineering and accounting services and expenses charged to us from VAST LLC for general headquarters expenses. The following table summarizes these related party transactions with VAST LLC and SAL LLC for the periods indicated below (in thousands):

	Three Months Ended
	October 2, 2016		September 27, 2015
Sales to VAST LLC	$	50	$	138
Sales to SAL, LLC	$	75	$	17
Purchases from VAST LLC	$	31	$	25
Expenses Charged to VAST LLC	$	228	$	235
Expenses Charged from VAST LLC	$	409	$	392