Equity Earnings (Loss) of Joint Ventures (Tables) - VAST LLC

9 Months Ended

Mar. 27, 2022

Summarized Statements of Operations

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

	Three Months Ended						Nine Months Ended
	March 27, 2022			March 28, 2021			March 27, 2022			March 28, 2021
Net Sales	$	55,281		$	51,748		$	153,454		$	160,511
Cost of Goods Sold		46,418			44,155			127,022			131,345
Gross Profit		8,863			7,593			26,432			29,166
Engineering, Selling and Administrative Expenses		7,575			7,684			24,075			22,936
Income (Loss) From Operations		1,288			(91	)		2,357			6,230
Other Income, net		692			327			1,085			1,363
Income before Provision for Income Taxes		1,980			236			3,442			7,593
Provision for Income Taxes		239			348			614			2,011
Net Income (Loss)	$	1,741		$	(112	)	$	2,828		$	5,582
STRATTEC's Share of VAST LLC Net Income (Loss)		581			(37	)		943			1,861
Intercompany Profit Elimination		(4	)		(19	)		(2	)		(17	)
STRATTEC’s Equity Earnings (Loss) of VAST LLC	$	577		$	(56	)	$	941		$	1,844

Summarize of Related Party Transaction

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

	Three Months Ended				Nine Months Ended
	March 27, 2022		March 28, 2021		March 27, 2022		March 28, 2021
Sales to VAST LLC	$	316	$	1,059	$	1,533	$	3,273
Purchases from VAST LLC	$	6	$	139	$	157	$	340
Expenses Charged to VAST LLC	$	134	$	265	$	512	$	1,361
Expenses Charged from VAST LLC	$	151	$	302	$	593	$	953