Revenue from Contracts with Customers

3 Months Ended

Sep. 27, 2020

Revenue From Contract With Customer [Abstract]

Revenue from Contracts with Customers

Revenue from Contracts with Customers

We generate revenue from the production of parts sold to automotive and light-truck Original Equipment Manufacturers (“OEMs”), or Tier 1 suppliers at the direction of the OEM, under long-term supply agreements supporting new vehicle production. Such agreements also require related production of service parts subsequent to the initial vehicle production periods. Additionally, we generate revenue from the production of parts sold in aftermarket service channels and to non-automotive commercial customers.

Contract Balances:

We have no material contract assets as of September 27, 2020. Contract liability balances primarily include discounts recognized as a reduction in sales at the point of revenue recognition, but which will be applied by the customer agreement after the end of the reporting period. Contract liability balances are included in Other Accrued Liabilities in the accompanying Condensed Consolidated Balance Sheets. The activity related to contract liability balances during the three month period ended September 27, 2020 was as follows (thousands of dollars):

Balance, June 28, 2020	$	373
Discounts Recorded as a Reduction in Sales		118
Payments of Discounts to Customers		(129	)
Other		40
Balance, September 27, 2020	$	402

Revenue by Product Group and Customer:  

Revenue by product group for the periods presented was as follows (thousands of dollars):

	Three Months Ended
	September 27, 2020		September 29, 2019
Door Handles & Exterior Trim	$	34,091	$	31,391
Keys & Locksets		32,736		32,469
Power Access		20,620		19,458
Latches		13,835		13,897
Aftermarket & OE Service		13,137		10,913
Driver Controls		9,787		9,785
Other		2,028		2,049
	$	126,234	$	119,962

Revenue by customer or customer group for the periods presented was as follows (thousands of dollars):

	Three Months Ended
	September 27, 2020		September 29, 2019
General Motors Company	$	37,756	$	33,838
Fiat Chrysler Automobiles		25,083		25,482
Ford Motor Company		15,846		15,812
Commercial and Other OEM     Customers		21,434		21,346
Tier 1 Customers		17,495		17,747
Hyundai / Kia		8,620		5,737
	$	126,234	$	119,962