Revenue from Contracts with Customers

9 Months Ended

Mar. 28, 2021

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 March 28, 2021. 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 nine month period ended March 28, 2021 was as follows (thousands of dollars):

Balance, June 28, 2020	$	373
Discounts Recorded as a Reduction in Sales		222
Payments of Discounts to Customers		(337	)
Other		(140	)
Balance, March 28, 2021	$	118

Revenue by Product Group and Customer:  

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

	Three Months Ended				Nine Months Ended
	March 28, 2021		March 29, 2020		March 28, 2021		March 29, 2020
Door Handles & Exterior Trim	$	29,790	$	31,296	$	98,694	$	88,818
Keys & Locksets		28,616		30,186		91,488		91,832
Power Access		26,209		21,259		72,039		56,979
Latches		13,125		13,685		41,303		40,656
Aftermarket & OE Service		10,969		11,141		34,077		34,189
Driver Controls		10,822		7,549		31,144		25,310
Other		2,113		1,822		6,493		5,399
	$	121,644	$	116,938	$	375,238	$	343,183

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

	Three Months Ended				Nine Months Ended
	March 28, 2021		March 29, 2020		March 28, 2021		March 29, 2020
General Motors Company	$	34,543	$	31,656	$	111,322	$	90,899
Fiat Chrysler Automobiles		21,685		26,050		69,919		78,686
Ford Motor Company		21,722		15,462		54,356		46,527
Commercial and Other OEM     Customers		17,241		20,184		58,272		62,950
Tier 1 Customers		17,289		17,495		53,444		50,026
Hyundai / Kia		9,164		6,091		27,925		14,095
	$	121,644	$	116,938	$	375,238	$	343,183