Equity Earnings (Loss) of Joint Ventures (Tables)

9 Months Ended

Apr. 01, 2018

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

	Three Months Ended					Nine Months Ended
	April 1, 2018			April 2, 2017		April 1, 2018			April 2, 2017
Net Sales	$	44,133		$	30,967	$	127,976		$	89,983
Cost of Goods Sold		34,063			24,776		98,339			71,993
Gross Profit		10,070			6,191		29,637			17,990
Engineering, Selling and Administrative Expenses		7,429			5,067		19,775			14,294
Income From Operations		2,641			1,124		9,862			3,696
Other Income, net		163			259		949			1,430
Income before Provision for Income Taxes		2,804			1,383		10,811			5,126
Provision for Income Taxes		683			50		1,367			627
Net Income	$	2,121		$	1,333	$	9,444		$	4,499
STRATTEC’s Share of VAST LLC Net Income	$	707		$	445	$	3,148		$	1,500
Intercompany Profit Elimination		(4	)		6		(6	)		(17	)
STRATTEC’s Equity Earnings of VAST LLC	$	703		$	451	$	3,142		$	1,483

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

	Three Months Ended						Nine Months Ended
	April 1, 2018			April 2, 2017			April 1, 2018			April 2, 2017
Net Sales	$	—		$	102		$	227		$	298
Cost of Goods Sold		—			244			408			428
Gross (Loss) Profit		—			(142	)		(181	)		(130	)
Engineering, Selling and Administrative Expenses		19			425			(6	)		1,131
Loss From Operations		(19	)		(567	)		(175	)		(1,261	)
Other Expense, net		(65	)		(47	)		(194	)		(94	)
Net Loss	$	(84	)	$	(614	)	$	(369	)	$	(1,355	)
STRATTEC’s Equity Loss of SAL LLC	$	(84	)	$	(614	)	$	(24	)	$	(1,355	)

The following table summarizes these related party transactions with VAST LLC and SAL LLC for the periods indicated below (in thousands):

	Three Months Ended				Nine Months Ended
	April 1, 2018		April 2, 2017		April 1, 2018		April 2, 2017
Sales to VAST LLC	$	507	$	501	$	2,090	$	1,041
Sales to SAL LLC	$	—	$	63	$	182	$	190
Purchases from VAST LLC	$	29	$	27	$	158	$	129
Expenses Charged to VAST LLC	$	232	$	341	$	615	$	567
Expenses Charged from VAST LLC	$	176	$	375	$	706	$	724