Earnings Per Share

12 Months Ended

Jul. 03, 2022

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

Basic earnings per share is computed on the basis of the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings per share is computed on the basis of the weighted average number of shares of common stock plus the potential dilutive common shares outstanding during the applicable period using the treasury stock method. Potential dilutive common shares include outstanding stock options and unvested restricted stock awards. A reconciliation of the components of the basic and diluted per share computations follows (in thousands, except per share amounts):

	Years Ended
	July 3, 2022		June 27, 2021
Net income attributable to STRATTEC	$	7,032	$	22,532
Weighted average shares of common stock outstanding		3,861		3,788
Incremental shares – stock based compensation		49		64
Diluted weighted average shares of common stock    outstanding		3,910		3,852
Basic earnings per share	$	1.82	$	5.95
Diluted earnings per share	$	1.80	$	5.85

Potentially dilutive common shares that were excluded from the calculation of diluted earnings per share because their inclusion would have been antidilutive were as follows:

Years Ended	Number of Options Excluded
July 3, 2022		36,921
June 27, 2021		9,010