Strattec Security (STRT) 10-Q 8 May 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Mar. 30, 2014
Document Information [Line Items]	'
Entity Registrant Name	'STRATTEC SECURITY CORP
Entity Central Index Key	'0000933034
Document Type	'10-Q
Document Period End Date	30-Mar-14
Amendment Flag	'false
Document Fiscal Year Focus	'2014
Document Fiscal Period Focus	'Q3
Current Fiscal Year End Date	'--06-29
Entity Filer Category	'Accelerated Filer
Entity Common Stock Shares Outstanding	3,467,750

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 30, 2014	Mar. 31, 2013	Mar. 30, 2014	Mar. 31, 2013
Net sales	$85,278	$74,658	$246,357	$217,708
Cost of goods sold	70,386	61,437	201,007	178,467
Gross profit	14,892	13,221	45,350	39,241
Engineering, selling and administrative expenses	9,757	8,025	28,477	25,626
Loss on settlement of pension obligation	0	2,144	0	2,144
Income from operations	5,135	3,052	16,873	11,471
Interest income	37	3	64	16
Equity earnings (loss) of joint ventures	267	-291	858	-402
Interest expense	-8	-10	-37	-25
Other income (expense), net	71	-759	296	-590
Income before provision for income taxes	5,502	1,995	18,054	10,470
Provision for income taxes	1,285	557	5,302	2,877
Net income	4,217	1,438	12,752	7,593
Net income attributable to non-controlling interest	616	344	2,067	1,435
Net income attributable to STRATTEC SECURITY CORPORATION	3,601	1,094	10,685	6,158
Comprehensive Income:	'	'	'	'
Net income	4,217	1,438	12,752	7,593
Retirement and postretirement plans, net of tax	435	3,621	1,304	3,621
Foreign currency translation adjustments	-124	1,067	-263	1,753
Other comprehensive income, net of tax	311	4,688	1,041	5,374
Comprehensive income	4,528	6,126	13,793	12,967
Comprehensive income attributable to non-controlling interest	615	396	2,055	1,503
Comprehensive income attributable to STRATTEC SECURITY CORPORATION	$3,913	$5,730	$11,738	$11,464
Earnings per share:	'	'	'	'
Basic	$1.03	$0.32	$3.07	$1.82
Diluted	$1	$0.32	$3	$1.80
Average shares outstanding:	'	'	'	'
Basic	3,443	3,327	3,413	3,318
Diluted	3,534	3,389	3,494	3,361
Cash dividends declared per share	$0.11	$0	$0.33	$0.40

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 30, 2014	Jun. 30, 2013
In Thousands, unless otherwise specified
Current Assets:	'	'
Cash and cash equivalents	$20,494	$20,307
Receivables, net	54,448	47,514
Inventories	'	'
Finished products	9,414	6,966
Work in process	6,959	6,164
Purchased materials	13,995	12,682
Excess and obsolete reserve	-1,722	-1,500
Inventories, net	28,646	24,312
Other current assets	16,069	14,366
Total current assets	119,657	106,499
Investment in joint ventures	9,981	9,166
Other long-term assets	7,682	2,420
Property, plant and equipment	171,394	163,437
Less: accumulated depreciation	-117,001	-112,022
Net property, plant and equipment	54,393	51,415
Total assets	191,713	169,500
Current Liabilities:	'	'
Accounts payable	29,916	25,543
Borrowings under credit facility	2,500	2,250
Accrued Liabilities:	'	'
Payroll and benefits	14,013	13,993
Environmental reserve	1,397	1,414
Warranty	2,763	2,500
Other	7,565	5,025
Total current liabilities	58,154	50,725
Deferred income taxes	1,355	1,009
Accrued pension obligations	1,680	1,464
Accrued postretirement obligations	2,338	2,717
Other long-term liabilities	1,333	1,705
Shareholders’ Equity:	'	'
Common stock, authorized 12,000,000 shares, $.01 par value, issued 7,093,508 shares at March 30, 2014 and 6,998,702 shares at June 30, 2013	71	70
Capital in excess of par value	85,983	82,684
Retained earnings	189,149	179,614
Accumulated other comprehensive loss	-21,159	-22,212
Less: treasury stock, at cost (3,625,758 shares at March 30, 2014 and 3,626,673 shares at June 30, 2013)	-135,924	-135,938
Total STRATTEC SECURITY CORPORATION shareholders’ equity	118,120	104,218
Non-controlling interest	8,733	7,662
Total shareholders’ equity	126,853	111,880
Total liabilities and shareholders’ equity	$191,713	$169,500

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 30, 2014	Jun. 30, 2013
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	12,000,000	12,000,000
Common stock, shares issued	7,093,508	6,998,702
Treasury stock, shares	3,625,758	3,626,673

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 30, 2014	Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	$12,752	$7,593
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	6,213	5,374
Foreign currency transaction (gain) loss	-74	1,300
Stock based compensation expense	880	756
Equity (earnings) loss of joint ventures	-858	402
Unrealized gain on foreign currency option contracts	0	-424
Loss on settlement of pension obligation	0	2,144
Change in operating assets and liabilities:	'	'
Receivables	-6,903	-5,060
Inventories	-4,334	-4,602
Other assets	-4,835	6,604
Accounts payable and accrued liabilities	6,357	-6,230
Other, net	114	72
Net cash provided by operating activities	9,312	7,929
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Investment in joint ventures	0	-200
Loan to Joint Venture	-285	'
Purchase of property, plant and equipment	-9,381	-7,805
Proceeds received on sale of property, plant and equipment	46	86
Net cash used in investing activities	-9,620	-7,919
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Borrowings under credit facility	1,250	2,500
Repayments under credit facility	-1,000	-1,000
Dividends paid to non-controlling interests of subsidiaries	-984	-1,331
Dividends paid	-1,152	-1,352
Exercise of stock options and employee stock purchases	2,428	330
Net cash provided by (used in) financing activities	542	-853
Foreign currency impact on cash	-47	-389
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	187	-1,232
CASH AND CASH EQUIVALENTS	'	'
Beginning of period	20,307	17,487
End of period	20,494	16,255
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:	'	'
Income taxes paid	3,150	2,698
Interest paid	$37	$31

Basis_of_Financial_Statements

Basis of Financial Statements	9 Months Ended
	Mar. 30, 2014
Basis of Financial Statements	'
	Basis of Financial Statements
	STRATTEC SECURITY CORPORATION designs, develops, manufactures and markets automotive access control products, including mechanical locks and keys, electronically enhanced locks and keys, steering column and instrument panel ignition lock housings, latches, power sliding door systems, power lift gate systems, power deck lid systems, door handles and related products for primarily North American automotive customers. We also supply global automotive manufacturers through a unique strategic relationship with WITTE Automotive of Velbert, Germany, and ADAC Automotive of Grand Rapids, Michigan. Under this relationship, STRATTEC, WITTE and ADAC market each company’s products to global customers under the “VAST” brand name. STRATTEC’s access control products are shipped to customer locations in the United States, Canada, Mexico, Europe, South America, Korea and China, and we provide full service and aftermarket support for our products.
	During April 2013, we acquired a 51 percent ownership interest in NextLock LLC, a newly formed joint venture which was formed to introduce a new generation of biometric security products based upon the designs of Actuator Systems LLC, our partner and the owner of the remaining interest. We anticipate shipment of new biometric security products to begin in the first quarter of our 2015 fiscal year through this new NextLock joint venture.
	The accompanying condensed consolidated financial statements reflect the consolidated results of STRATTEC SECURITY CORPORATION, its wholly owned Mexican subsidiary, STRATTEC de Mexico, and its majority owned subsidiaries, ADAC-STRATTEC, LLC and STRATTEC POWER ACCESS LLC. STRATTEC SECURITY CORPORATION is located in Milwaukee, Wisconsin. STRATTEC de Mexico is located in Juarez, Mexico. ADAC-STRATTEC, LLC and STRATTEC POWER ACCESS LLC have operations in El Paso, Texas and Juarez, Mexico. Equity investments in Vehicle Access Systems Technology LLC (“VAST LLC”) and NextLock LLC for which we exercise significant influence but do not control and are not the primary beneficiary, are accounted for using the equity method. VAST LLC consists primarily of three wholly owned subsidiaries in China and one joint venture in Brazil. NextLock LLC is located in El Paso, Texas. We have only one reporting segment.
	In the opinion of management, the accompanying condensed consolidated balance sheet as of June 30, 2013, which has been derived from our audited financial statements, and the related unaudited interim condensed consolidated financial statements included herein contain all adjustments, consisting only of normal recurring items, necessary for their fair presentation in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and in accordance with Rule 10-01 of Regulation S-X. All significant intercompany transactions have been eliminated.
	Interim financial results are not necessarily indicative of operating results for an entire year. The information included in this Form 10-Q should be read in conjunction with Management’s Discussion and Analysis and the financial statements and notes thereto included in the STRATTEC SECURITY CORPORATION 2013 Annual Report, which was filed with the Securities and Exchange Commission as an exhibit to our Form 10-K on September 9, 2013.

New_Accounting_Pronouncement_A

New Accounting Pronouncement Adopted	9 Months Ended
	Mar. 30, 2014
New Accounting Pronouncement Adopted	'
	New Accounting Pronouncement Adopted
	In February 2013, the Financial Accounting Standards Board (“FASB”) issued an amendment to the accounting guidance for the reporting of amounts reclassified out of accumulated other comprehensive income (“AOCI”). The amendment expands the existing disclosure by requiring entities to present information about significant items reclassified out of AOCI by component. In addition, an entity is required to provide information about the effects on net income of significant amounts reclassified out of each component of AOCI to net income either on the face of the statement where net income is presented or as a separate disclosure in the notes of the financial statements. The amendment is effective prospectively for annual or interim reporting periods beginning after December 15, 2012. The adoption of this accounting pronouncement did not have a material impact on our financial statement disclosures. See Accumulated Other Comprehensive Loss included herein.

Subsequent_Event

Subsequent Event	9 Months Ended
	Mar. 30, 2014
Subsequent Event	'
	Subsequent Event
	On April 2, 2014, our Board of Directors approved a resolution to terminate the STRATTEC SECURITY CORPORATION Retirement Plan (the "Retirement Plan"), subject to the conditions noted below.  The Retirement Plan was frozen effective December 31, 2009; after that date, no new employees were eligible to participate and no additional credited service was provided to participants after that date.  The termination of the Retirement Plan is subject to the following: (1) the Internal Revenue Service's ("IRS") determination that the Plan is qualified on termination and (2) STRATTEC providing notice to the union representing the participants and our obligation to bargain with that union regarding the termination of the Plan.  Additionally, we have amended the Retirement Plan to provide that participants are 100% vested in their accrued benefits as of the effective date of the plan termination, to adopt a new standard for disability benefits that will apply when the plan's assets are distributed due to the termination of the Retirement Plan, to add a lump‑sum distribution for employees and terminated vested participants who are not in payment status when Retirement Plan assets are distributed due to the termination of the Retirement Plan and to make certain other conforming amendments to the Retirement Plan to comply with applicable law that may be required by the IRS or may be deemed necessary or advisable to improve the administration of the Retirement Plan or facilitate the Retirement Plan's termination and liquidation. The foregoing Retirement Plan amendments are also subject to our requirement to bargain with the union. We also intend to make contributions to the Trust Fund for the Retirement Plan to ensure that there are sufficient assets to provide all Retirement Plan benefits as of the anticipated distribution date.

Derivative_Instruments

Derivative Instruments	9 Months Ended
	Mar. 30, 2014
Derivative Instruments	'
	Derivative Instruments
	We own and operate manufacturing operations in Mexico. As a result, a portion of our manufacturing costs are incurred in Mexican pesos, which causes our earnings and cash flows to fluctuate as a result of changes in the U.S. dollar / Mexican peso exchange rate. During fiscal 2013, we had agreements with Bank of Montreal that provided for two weekly Mexican peso currency option contracts to cover a portion of our weekly estimated peso denominated operating costs. The contracts with Bank of Montreal expired on June 28, 2013. The two weekly option contracts were for equivalent notional amounts and provided for the purchase of Mexican pesos at an average U.S. dollar / Mexican peso exchange rate of 12.40 if the spot rate at the weekly expiry date was below an average of 12.40 or for the purchase of Mexican pesos at an average U.S. dollar / Mexican peso exchange rate of 13.40 if the spot rate at the weekly expiry date was above an average of 13.40. Our objective in entering into these currency option contracts was to minimize our earnings volatility resulting from changes in exchange rates affecting the U.S. dollar cost of our Mexican operations. The Mexican peso option contracts were not used for speculative purposes and were not designated as hedges. As a result, all currency option contracts were recognized in our accompanying consolidated financial statements at fair value and changes in the fair value of the currency option contracts were reported in current earnings as part of Other Income (Expense), net. The premiums paid and received under the weekly Mexican peso currency option contracts netted to zero. As a result, premiums related to the contracts did not impact our earnings. No Mexican peso currency option contracts were outstanding as of March 30, 2014 or June 30, 2013.
	The pre-tax effects of the Mexican peso option contracts on the accompanying Condensed Consolidated Statements of Income and Comprehensive Income consisted of the following (thousands of dollars):
		Other Income (Expense), net
		Three Months Ended				Nine Months Ended
		March 30,		March 31,		March 30,		March 31,
		2014		2013		2014		2013
	Not Designated as Hedging Instruments:
	Realized Gain	$	-	$	2	$	-	$	2
	Realized Loss	$	-	$	-	$	-	$	(34	)
	Unrealized Gain	$	-	$	75	$	-	$	424

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	9 Months Ended
	Mar. 30, 2014
Fair Value of Financial Instruments	'
	Fair Value of Financial Instruments
	The fair value of our cash and cash equivalents, accounts receivable, accounts payable and borrowings under our credit facility approximated book value as of March 30, 2014 and June 30, 2013. Fair value is defined as the exchange price that would be received for an asset or paid for a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date.
	The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of March 30, 2014 (in thousands of dollars):
		Fair Value Inputs
		Level 1 Assets: Quoted Prices		Level 2 Assets: Observable Inputs Other Than Market Prices		Level 3 Assets: Unobservable
		In Active Markets				Inputs
	Assets:
	Rabbi Trust Assets:
	Stock Index Funds:
	Small Cap	$	285	$	-	$	-
	Mid Cap		190		-		-
	Large Cap		383		-		-
	International		399		-		-
	Fixed Income Fund:
	Bond Funds		630		-		-
	Cash and Cash Equivalents		-		82		-
	Total Assets at Fair Value	$	1,887	$	82	$	-
	The Rabbi Trust assets fund our amended and restated supplemental executive retirement plan and are included in Other Long-term Assets in the accompanying Condensed Consolidated Balance Sheets. There were no transfers between Level 1 and Level 2 assets during the nine months ended March 30, 2014.

Equity_Earnings_Loss_of_Joint_

Equity Earnings (Loss) of Joint Ventures	9 Months Ended
	Mar. 30, 2014
Equity Earnings (Loss) of Joint Ventures	'
	Equity Earnings (Loss) of Joint Ventures
	We hold a one-third interest in a joint venture company, Vehicle Access Systems Technology LLC (“VAST LLC”), with WITTE Automotive of Velbert, Germany (“WITTE”), and ADAC Automotive of Grand Rapids, Michigan (“ADAC”). VAST LLC exists to seek opportunities to manufacture and sell all three companies’ products in areas of the world outside of North America and Europe. VAST LLC consists primarily of three wholly owned subsidiaries in China and one joint venture in Brazil. Our investment in VAST LLC, for which we exercise significant influence but do not control and are not the primary beneficiary, is accounted for using the equity method.
	The following are summarized statements of operations for VAST LLC (thousands of dollars):
		Three Months Ended						Nine Months Ended
		March 30,			March 31,				March 30,			March 31,
		2014			2013				2014			2013
	Net Sales	$	28,590		$	23,767			$	80,254		$	67,732
	Cost of Goods Sold		24,771			20,611				68,129			56,514
	Gross Profit		3,819			3,156				12,125			11,218
	Engineering, Selling and Administrative Expenses		3,671			4,268				9,952			12,989
	Income (Loss) From Operations		148			(1,112	)			2,173			(1,771	)
	Other Income, net		1,683			173				1,662			472
	Income (Loss) before Provision for Income taxes		1,831			(939	)			3,835			(1,299	)
	Provision for (benefit from) Income Taxes		758			(69	)			523			(83	)
	Net Income (Loss)	$	1,073		$	(870	)		$	3,312		$	(1,216	)
	STRATTEC’s Share of VAST LLC Net Income (Loss)	$	358		$	(290	)			1,104		$	(405	)
	Intercompany Profit Elimination		7			(1	)			3			3
	STRATTEC’s Equity Earnings (Loss) of VAST LLC	$	365		$	(291	)		$	1,107		$	(402	)
	During April 2013, we acquired a 51% ownership interest in a newly formed joint venture company, NextLock LLC, which was formed to introduce a new generation of biometric security products based upon designs of Actuator Systems LLC, our partner. We anticipate shipment of the biometric security products to begin in the first quarter of our 2015 fiscal year through this new joint venture. Our investment in NextLock, for which we exercise significant influence but do not control, is accounted for using the equity method.
	The following are summarized statements of operations for NextLock LLC (thousands of dollars):
		Three Months Ended							Nine Months Ended
		March 30,			March 31,				March 30,			March 31,
		2014			2013				2014			2013
	Engineering, Selling and Administrative Expenses	$	189		$	-			$	486		$	-
	Loss From Operations		(189	)		-				(486	)		-
	Net Loss	$	(189	)	$	-			$	(486	)	$	-
	STRATTEC’s Equity Loss of NextLock LLC	$	(98	)	$	-			$	(249	)	$	-

Credit_Facilities_and_Guarante

Credit Facilities and Guarantees	9 Months Ended
	Mar. 30, 2014
Credit Facilities and Guarantees	'
	Credit Facilities and Guarantees
	STRATTEC has a $25 million secured revolving credit facility (the “STRATTEC Credit Facility”) with BMO Harris Bank N.A. ADAC-STRATTEC LLC has a $5 million secured revolving credit facility (the “ADAC-STRATTEC Credit Facility”) with BMO Harris Bank N.A., which is guaranteed by STRATTEC. The credit facilities both expire on August 1, 2016. Borrowings under either credit facility are secured by our U.S. cash balances, accounts receivable, inventory and fixed assets located in the U.S. Interest on borrowings under the STRATTEC Credit Facility is at varying rates based, at our option, on the London Interbank Offering Rate (“LIBOR”) plus 1.0 percent or the bank’s prime rate. Interest on borrowings under the ADAC-STRATTEC Credit Facility for periods prior to January 22, 2014 was at varying rates based, at our option, on LIBOR plus 1.75 percent or the bank’s prime rate. As a result of an amendment to the ADAC-STRATTEC Credit Facility, effective January 22, 2014 and thereafter, interest on borrowings under this facility is based on LIBOR plus 1.0 percent or the bank’s prime rate. Both credit facilities contain a restrictive financial covenant that requires the applicable borrower to maintain a minimum net worth level. The ADAC-STRATTEC Credit Facility includes an additional restrictive financial covenant that requires the maintenance of a minimum fixed charge coverage ratio. There were no outstanding borrowings under the STRATTEC Credit Facility at March 30, 2014 or June 30, 2013. There were no borrowings under the STRATTEC Credit Facility during fiscal 2014 to date or during fiscal 2013. Borrowings under the ADAC-STRATTEC Credit Facility totaled $2.5 million at March 30, 2014 and $2.25 million at June 30, 2013. The average outstanding borrowings and weighted average interest rate on the ADAC-STRATTEC Credit Facility loans were approximately $2.7 million and 1.8 percent, respectively, during the nine months ended March 30, 2014. The average outstanding borrowings and weighted average interest rate on the ADAC-STRATTEC Credit Facility loans were approximately $1.0 million and 2.0 percent, respectively, during the nine months ended March 31, 2013.

Environmental_Reserve

Environmental Reserve	9 Months Ended
	Mar. 30, 2014
Environmental Reserve	'
	Environmental Reserve
	In 1995, we recorded a provision of $3 million for estimated costs to remediate an environmental contamination site at our Milwaukee facility. The site was contaminated by a solvent spill, which occurred in 1985, from a former above ground solvent storage tank located on the east side of the facility. The reserve was originally established based on third party estimates to adequately cover the cost for active remediation of the contamination. Due to changing technology and related costs associated with active remediation of the contamination, an updated analysis and estimate was obtained during fiscal 2010. As a result of this analysis, the reserve was reduced by approximately $1.1 million, to $1.5 million in 2010, to reflect the revised monitoring and remediation cost estimate. From 1995 through March 30, 2014, costs of approximately $478,000 have been incurred related to the installation of monitoring wells on the property and ongoing monitoring costs. We continue to monitor and evaluate the site with the use of these groundwater monitoring wells. An environmental consultant samples these wells one or two times a year to determine the status of the contamination and the potential for remediation of the contamination by natural attenuation, the dissipation of the contamination over time to concentrations below applicable standards. If such sampling evidences a sufficient degree of and trend toward natural attenuation of the contamination at the site, we may be able to obtain a closure letter from the regulatory authorities resolving the issue without the need for active remediation. If a sufficient degree and trend toward natural attenuation is not evidenced by sampling, a more active form of remediation beyond natural attenuation may be required. The sampling has not yet satisfied all of the requirements for closure by natural attenuation. As a result, sampling continues and the reserve remains at an amount to reflect the estimated cost of active remediation. The reserve is not measured on a discounted basis. We believe, based on findings-to-date and known environmental regulations, that the remaining environmental reserve of $1.4 million at March 30, 2014, is adequate.

Shareholders_Equity

Shareholders' Equity	9 Months Ended
	Mar. 30, 2014
Shareholders' Equity	'
	Shareholders’ Equity
	A summary of activity impacting shareholders’ equity for the nine month period ended March 30, 2014 was as follows (in thousands):
		Total			Equity			Equity Attributable
		Shareholders’			Attributable to			to Non-Controlling
		Equity			STRATTEC			Interest
	Balance, June 30, 2013	$	111,880		$	104,218		$	7,662
	Net Income		12,752			10,685			2,067
	Dividend Declared		(1,150	)		(1,150	)		-
	Dividend Declared – Non-controlling Interests of Subsidiaries		(984	)		-			(984	)
	Translation adjustments		(263	)		(251	)		(12	)
	Stock Based Compensation		880			880			-
	Tax Benefit – Dividend Paid on Restricted Shares		6			6			-
	Pension and Postretirement Adjustment, Net of tax		1,304			1,304			-
	Employee Stock Purchases and Stock Option Exercises		2,428			2,428			-
	Balance, March 30, 2014	$	126,853		$	118,120		$	8,733

Other_Income_Expense_Net

Other Income (Expense), Net	9 Months Ended
	Mar. 30, 2014
Other Income (Expense), Net	'
	Other Income (Expense), net
	Net other income (expense) included in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income primarily included foreign currency transaction gains and losses, unrealized gains and losses on our Mexican Peso option contracts, and Rabbi Trust gains and losses. Foreign currency transaction gains and losses were the result of foreign currency transactions entered into by our Mexican subsidiaries and fluctuations in foreign currency cash balances. We entered into the Mexican Peso currency option contracts during fiscal 2013 to minimize earnings volatility resulting from changes in exchange rates affecting the U.S. dollar cost of our Mexican operations. The Rabbi Trust assets fund our amended and restated supplemental executive retirement plan. The investments held in the Trust are considered trading securities.
	The impact of these items for each of the periods presented was as follows (in thousands):
		Three Months Ended					Nine Months Ended
		March 30,		March 31,			March 30,		March 31,
		2014		2013			2014		2013
	Foreign Currency Transaction Gain (Loss)	$	36	$	(987	)	$	74	$	(1,300	)
	Rabbi Trust Gain		27		103			132		156
	Unrealized Gain on Mexican Peso Option Contracts		-		75			-		424
	Realized Gain (Loss) on Mexican Peso Option Contracts, net		-		2			-		(32	)
	Other		8		48			90		162
		$	71	$	(759	)	$	296	$	(590	)

Income_Taxes

Income Taxes	9 Months Ended
	Mar. 30, 2014
Income Taxes	'
	Income Taxes
	The income tax provisions for the three and nine month periods ended March 30, 2014 and March 31, 2013 were affected by the non-controlling interest portion of our pre-tax income. Our income tax provision for each of the three and nine month periods ended March 30, 2014 were both also affected by a lower statutory tax rate for income subject to tax in Mexico as compared to the statutory tax rate for income subject to tax in the U.S. Moreover, our income tax provision for the three and nine month periods ended March 30, 2014 included a reduction in our unrecognized tax benefit liability of approximately $307,000 due to tax years that closed.

Earnings_Per_Share_EPS

Earnings Per Share (EPS)	9 Months Ended
	Mar. 30, 2014
Earnings Per Share (EPS)	'
	Earnings Per Share (EPS)
	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 for the periods presented below follows (in thousands, except per share amounts):
		Three Months Ended				Nine Months Ended
		March 30,		March 31,		March 30,		March 31,
		2014		2013		2014		2013
	Net Income Attributable to STRATTEC SECURITY CORPORATION	$	3,601	$	1,094	$	10,685	$	6,158
	Less: Income Attributable to Participating Securities		65		20		193		114
	Net Income Attributable to Common Shareholders	$	3,536	$	1,074	$	10,492	$	6,044
			3,443		3,327		3,413		3,318
	Basic Weighted Average Shares of Common Stock Outstanding
	Incremental Shares – Stock based		91		62		81		43
	Compensation
	Diluted Weighted Average Shares of Common Stock Outstanding		3,534		3,389		3,494		3,361
		$	1.03	$	0.32	$	3.07	$	1.82
	Basic Earnings Per Share
	Diluted Earnings Per Share	$	1	$	0.32	$	3	$	1.8
	We consider unvested restricted stock that provides the holder with a non-forfeitable right to receive dividends to be a participating security.
	As of March 30, 2014, options to purchase 49,340 shares of common stock were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. As of March 31, 2013, options to purchase 166,000 shares of common stock were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.

StockBased_Compensation

Stock-Based Compensation	9 Months Ended
	Mar. 30, 2014
Stock-based Compensation	'
	Stock-based Compensation
	We maintain an omnibus stock incentive plan. This plan provides for the granting of stock options, shares of restricted stock and stock appreciation rights. The Board of Directors has designated 1,700,000 shares of common stock available for the grant of awards under the plan. Remaining shares available to be granted under the plan as of March 30, 2014 were 123,250. Awards that expire or are canceled without delivery of shares become available for re-issuance under the plan. We issue new shares of common stock to satisfy stock option exercises.
	Nonqualified and incentive stock options and shares of restricted stock have been granted to our officers, outside directors and specified employees under our stock incentive plan. Stock options granted under the plan may not be issued with an exercise price less than the fair market value of the common stock on the date the option is granted. Stock options become exercisable as determined at the date of grant by the Compensation Committee of our Board of Directors. The options expire 5 to 10 years after the grant date unless an earlier expiration date is set at the time of grant. The options vest 1 to 4 years after the date of grant. Shares of restricted stock granted under the plan are subject to vesting criteria determined by the Compensation Committee of our Board of Directors at the time the shares are granted and have a minimum vesting period of three years from the date of grant. Restricted shares granted have voting and dividend rights, regardless if the shares are vested or unvested. The restricted stock grants issued to date vest 3 years after the date of grant.
	The fair value of each stock option grant was estimated as of the date of grant using the Black-Scholes pricing model. The resulting compensation cost for fixed awards with graded vesting schedules is amortized on a straight line basis over the vesting period for the entire award. The fair value of each restricted stock grant was based on the market price of the underlying common stock as of the date of grant. The resulting compensation cost is amortized on a straight line basis over the vesting period.
	A summary of stock option activity under our stock incentive plan for the nine months ended March 30, 2014 was as follows:
		Shares			Weighted			Weighted		Aggregate
					Average			Average		Intrinsic
					Exercise Price			Remaining		Value
								Contractual		(in thousands)
								Term (years)
	Outstanding, June 30, 2013		271,455		$	27.19
	Granted		40,000		$	38.71
	Exercised		(75,456	)	$	25.61
	Expired		(19,500	)	$	57.73
	Forfeited		(11,457	)	$	30.61
	Outstanding, March 30, 2014		205,042		$	26.92			6.3	$	9,042
	Exercisable, March 30, 2014		96,499		$	23.16			4	$	4,618
	The intrinsic value of stock options exercised and the fair value of stock options vesting during the three and nine month periods presented below was as follows (in thousands):
		Three Months Ended						Nine Months Ended
		March 30,			March 31,			March 30,		March 31,
		2014			2013			2014		2013
	Intrinsic Value of Options Exercised	$	1,129		$	243		$	1,807	$	277
	Fair Value of Stock Options Vesting	$	29		$	124		$	444	$	266
	The grant date fair value and assumptions used to determine compensation expense for the options granted during each period presented below were as follows:
		Nine Months Ended
		March 30,			March 31,
		2014			2013
	Weighted Average Grant Date Fair Value:
	Options Issued at Grant Date Market Value		n/a			n/a
	Options Issued Above Grant Date Market Value	$	17.58		$	10.48
	Assumptions:
	Risk Free Interest Rate		2.06	%		0.95	%
	Expected Volatility		58.75	%		57.58	%
	Expected Dividend Yield		1.11	%		1.69	%
	Expected Term (in years)		6			6
	A summary of restricted stock activity under our omnibus stock incentive plan for the nine months ended March 30, 2014 was as follows:
		Shares			Weighted
					Average
					Grant Date
					Fair Value
	Nonvested Balance, June 30, 2013		61,250		$	22.42
	Granted		24,950		$	37.29
	Vested		(19,350	)	$	20.4
	Forfeited		(3,250	)	$	27.88
	Nonvested Balance, March 30, 2014		63,600		$	28.64
	As of March 30, 2014, there was $732,000 of total unrecognized compensation cost related to outstanding stock options granted under our omnibus stock incentive plan. This cost is expected to be recognized over a weighted average period of 1 year. As of March 30, 2014, there was approximately $755,000 of total unrecognized compensation cost related to unvested restricted stock grants outstanding under the plan. This cost is expected to be recognized over a weighted average period of 1 year. Total unrecognized compensation cost will be adjusted for any future changes in estimated and actual forfeitures of awards granted under our omnibus stock incentive plan.

Pension_and_Postretirement_Ben

Pension and Postretirement Benefits	9 Months Ended
	Mar. 30, 2014
Pension and Postretirement Benefits	'
	Pension and Postretirement Benefits
	We have a qualified, noncontributory defined benefit pension plan covering substantially all U.S. associates. Benefits are based on years of service and final average compensation. Our policy is to fund at least the minimum actuarially computed annual contribution required under the Employee Retirement Income Security Act of 1974 (ERISA). Plan assets consist primarily of listed equity and fixed income securities. Effective December 31, 2009, an amendment to the qualified defined benefit pension plan discontinued the benefit accruals for salary increases and credited service rendered after December 31, 2009.  See “Subsequent Event” above for additional information on the pending termination of this pension plan.
	We have historically had in place a noncontributory supplemental executive retirement plan (“SERP”), which was a nonqualified defined benefit plan that essentially mirrored the qualified plan, but provided benefits in excess of certain limits placed on our qualified retirement plan by the Internal Revenue Code. The SERP pays supplemental pension benefits to certain key employees upon retirement. The SERP is being funded through a Rabbi trust with BMO Harris Bank N.A. On October 8, 2013, our Board of Directors approved certain amendments to the SERP Plan which were effective as of December 31, 2013. The SERP Plan provides certain benefits to our executive officers under a defined benefit formula which was designed to provide benefits in addition to the STRATTEC SECURITY CORPORATION Retirement Plan (the “Pension Plan”). We froze our Pension Plan effective as of December 31, 2009 and the SERP Plan provided benefits to participants as if the Pension Plan had not been frozen. Because the Pension Plan was frozen and because new employees do not participate in the Pension Plan our Board of Directors adopted amendments to the SERP Plan on October 8, 2013 that were effective as of December 31, 2013 to simplify the SERP Plan calculation. Under the amended SERP Plan, participants will receive an accrued lump-sum benefit as of December 31, 2013 to be credited to each participant’s account. Going forward after that date, each eligible participant will receive a supplemental retirement benefit equal to the foregoing lump sum benefit, plus an annual benefit accrual equal to 8% of the participant’s base salary and cash bonus, plus annual credited interest on the participant’s account balance. All current participants are fully vested in their account balances with any new individuals participating in the SERP Plan on or after January 1, 2014 being subject to a five year vesting schedule.  The SERP Plan, which is considered a defined benefit plan under applicable rules and regulations, will continue to be funded through use of a Rabbi Trust to hold investment assets to be used in part to fund any future required lump sum benefit payments to participants.  The foregoing amendment did not have a material effect on our financial statements.
	We also sponsor a postretirement health care plan for all of our U.S. associates hired prior to June 2, 2001. The expected cost of retiree health care benefits is recognized during the years that the associates who are covered under the plan render service. Effective January 1, 2010, an amendment to the postretirement health care plan limited the benefit for future eligible retirees to $4,000 per plan year and is subject to a maximum five year coverage period based on the associate’s retirement date and age. The postretirement health care plan is unfunded.
	Net periodic pension and postretirement benefit costs are allocated between Cost of Goods Sold and Engineering, Selling and Administrative Expenses in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income.
	The following tables summarize the net periodic benefit cost recognized for each of the periods indicated under these plans (in thousands):
		Pension Benefits						Postretirement Benefits
		Three Months Ended						Three Months Ended
		March 30,			March 31,			March 30,			March 31,
		2014			2013			2014			2013
	Service cost	$	54		$	41		$	4		$	4
	Interest cost		1,102			1,110			39			45
	Expected return on plan assets		(1,610	)		(1,530	)		-			-
	Settlement Loss		-			2,144			-			-
	Amortization of prior service cost (credit)		2			3			(191	)		(191	)
	Amortization of unrecognized net loss		666			1,111			212			225
	Net periodic benefit cost	$	214		$	2,879		$	64		$	83
		Pension Benefits						Postretirement Benefits
		Nine Months Ended						Nine Months Ended
		March 30,			March 31,			March 30,			March 31,
		2014			2013			2014			2013
	Service cost	$	163		$	145		$	11		$	11
	Interest cost		3,305			3,356			118			136
	Expected return on plan assets		(4,831	)		(4,594	)		-			-
	Settlement Loss		-			2,144			-			-
	Amortization of prior service cost (credit)		8			9			(573	)		(573	)
	Amortization of unrecognized net loss		1,999			3,373			635			674
	Net periodic benefit cost	$	644		$	4,433		$	191		$	248
	Contributions of $1.5 million were made to the qualified pension plan during the nine month period ended March 30, 2014.  Contributions of $1.75 million were made to the qualified pension plan during the nine month period ended March 31, 2013. Additional voluntary contributions of $1.5 million are anticipated to be made during the remainder of fiscal 2014.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Loss	9 Months Ended
	Mar. 30, 2014
Accumulated Other Comprehensive Loss	'
	Accumulated Other Comprehensive Loss
	The following table summarizes the changes in accumulated other comprehensive loss (“AOCL”) for the nine months ended March 30, 2014 (in thousands):
			Foreign			Retirement			Total
			Currency			and
			Translation			Postretirement
			Adjustments			Benefit Plans
	Balance, June 30, 2013		$	(3,268	)	$	(18,944	)	$	(22,212	)
	Other comprehensive loss before reclassifications			(263	)		-			(263	)
	Income tax			-			-			-
	Net other comprehensive loss before			(263	)		-			(263	)
	reclassifications
	Reclassifications:
	Prior service credits (A)			-			-564			(564	)
	Actuarial gains (A)			-			2,634			2,634
	Total reclassifications before tax			-			2,070			2,070
	Income tax			-			766			766
	Net reclassifications			-			1,304			1,304
	Other comprehensive (loss) income			(263	)		1,304			1,041
	Other comprehensive loss attributable to non-controlling interest			(12	)		-			(12	)
	Balance, March 30, 2014		$	(3,519	)	$	(17,640	)	$	(21,159	)
	(A)	Amounts reclassified are included in the computation of net periodic benefit cost. See Pension and Postretirement Benefits note to these condensed consolidated financial statements above.

Derivative_Instruments_Tables

Derivative Instruments (Tables)	9 Months Ended
	Mar. 30, 2014
Pre-tax Effects of the Peso Option Contracts	'
	The pre-tax effects of the Mexican peso option contracts on the accompanying Condensed Consolidated Statements of Income and Comprehensive Income consisted of the following (thousands of dollars):
		Other Income (Expense), net
		Three Months Ended				Nine Months Ended
		March 30,		March 31,		March 30,		March 31,
		2014		2013		2014		2013
	Not Designated as Hedging Instruments:
	Realized Gain	$	-	$	2	$	-	$	2
	Realized Loss	$	-	$	-	$	-	$	(34	)
	Unrealized Gain	$	-	$	75	$	-	$	424

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Mar. 30, 2014
Summary of Financial Assets and Liabilities at Fair Value on Recurring Basis	'
	The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of March 30, 2014 (in thousands of dollars):
		Fair Value Inputs
		Level 1 Assets: Quoted Prices		Level 2 Assets: Observable Inputs Other Than Market Prices		Level 3 Assets: Unobservable
		In Active Markets				Inputs
	Assets:
	Rabbi Trust Assets:
	Stock Index Funds:
	Small Cap	$	285	$	-	$	-
	Mid Cap		190		-		-
	Large Cap		383		-		-
	International		399		-		-
	Fixed Income Fund:
	Bond Funds		630		-		-
	Cash and Cash Equivalents		-		82		-
	Total Assets at Fair Value	$	1,887	$	82	$	-

Equity_Earnings_Loss_of_Joint_1

Equity Earnings (Loss) of Joint Ventures (Tables)	9 Months Ended
	Mar. 30, 2014
VAST LLC	'
Summarized Statements of Operations	'
	The following are summarized statements of operations for VAST LLC (thousands of dollars):
		Three Months Ended						Nine Months Ended
		March 30,			March 31,				March 30,			March 31,
		2014			2013				2014			2013
	Net Sales	$	28,590		$	23,767			$	80,254		$	67,732
	Cost of Goods Sold		24,771			20,611				68,129			56,514
	Gross Profit		3,819			3,156				12,125			11,218
	Engineering, Selling and Administrative Expenses		3,671			4,268				9,952			12,989
	Income (Loss) From Operations		148			(1,112	)			2,173			(1,771	)
	Other Income, net		1,683			173				1,662			472
	Income (Loss) before Provision for Income taxes		1,831			(939	)			3,835			(1,299	)
	Provision for (benefit from) Income Taxes		758			(69	)			523			(83	)
	Net Income (Loss)	$	1,073		$	(870	)		$	3,312		$	(1,216	)
	STRATTEC’s Share of VAST LLC Net Income (Loss)	$	358		$	(290	)			1,104		$	(405	)
	Intercompany Profit Elimination		7			(1	)			3			3
	STRATTEC’s Equity Earnings (Loss) of VAST LLC	$	365		$	(291	)		$	1,107		$	(402	)
NextLock LLC	'
Summarized Statements of Operations	'
	The following are summarized statements of operations for NextLock LLC (thousands of dollars):
		Three Months Ended							Nine Months Ended
		March 30,			March 31,				March 30,			March 31,
		2014			2013				2014			2013
	Engineering, Selling and Administrative Expenses	$	189		$	-			$	486		$	-
	Loss From Operations		(189	)		-				(486	)		-
	Net Loss	$	(189	)	$	-			$	(486	)	$	-
	STRATTEC’s Equity Loss of NextLock LLC	$	(98	)	$	-			$	(249	)	$	-

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	9 Months Ended
	Mar. 30, 2014
Summary of Activity Impacting Shareholders' Equity	'
	A summary of activity impacting shareholders’ equity for the nine month period ended March 30, 2014 was as follows (in thousands):
		Total			Equity			Equity Attributable
		Shareholders’			Attributable to			to Non-Controlling
		Equity			STRATTEC			Interest
	Balance, June 30, 2013	$	111,880		$	104,218		$	7,662
	Net Income		12,752			10,685			2,067
	Dividend Declared		(1,150	)		(1,150	)		-
	Dividend Declared – Non-controlling Interests of Subsidiaries		(984	)		-			(984	)
	Translation adjustments		(263	)		(251	)		(12	)
	Stock Based Compensation		880			880			-
	Tax Benefit – Dividend Paid on Restricted Shares		6			6			-
	Pension and Postretirement Adjustment, Net of tax		1,304			1,304			-
	Employee Stock Purchases and Stock Option Exercises		2,428			2,428			-
	Balance, March 30, 2014	$	126,853		$	118,120		$	8,733

Other_Income_Expense_Net_Table

Other Income (Expense), Net (Tables)	9 Months Ended
	Mar. 30, 2014
Summary of Other Income Expenses, Net	'
	The impact of these items for each of the periods presented was as follows (in thousands):
		Three Months Ended					Nine Months Ended
		March 30,		March 31,			March 30,		March 31,
		2014		2013			2014		2013
	Foreign Currency Transaction Gain (Loss)	$	36	$	(987	)	$	74	$	(1,300	)
	Rabbi Trust Gain		27		103			132		156
	Unrealized Gain on Mexican Peso Option Contracts		-		75			-		424
	Realized Gain (Loss) on Mexican Peso Option Contracts, net		-		2			-		(32	)
	Other		8		48			90		162
		$	71	$	(759	)	$	296	$	(590	)

Earnings_Per_Share_EPS_Tables

Earnings Per Share (EPS) (Tables)	9 Months Ended
	Mar. 30, 2014
Reconciliation of the Components of the Basic and Diluted per Share	'
	A reconciliation of the components of the basic and diluted per-share computations for the periods presented below follows (in thousands, except per share amounts):
		Three Months Ended				Nine Months Ended
		March 30,		March 31,		March 30,		March 31,
		2014		2013		2014		2013
	Net Income Attributable to STRATTEC SECURITY CORPORATION	$	3,601	$	1,094	$	10,685	$	6,158
	Less: Income Attributable to Participating Securities		65		20		193		114
	Net Income Attributable to Common Shareholders	$	3,536	$	1,074	$	10,492	$	6,044
			3,443		3,327		3,413		3,318
	Basic Weighted Average Shares of Common Stock Outstanding
	Incremental Shares – Stock based		91		62		81		43
	Compensation
	Diluted Weighted Average Shares of Common Stock Outstanding		3,534		3,389		3,494		3,361
		$	1.03	$	0.32	$	3.07	$	1.82
	Basic Earnings Per Share
	Diluted Earnings Per Share	$	1	$	0.32	$	3	$	1.8

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	9 Months Ended
	Mar. 30, 2014
Summary of Stock Option Activity Under Our Stock Incentive Plan	'
	A summary of stock option activity under our stock incentive plan for the nine months ended March 30, 2014 was as follows:
		Shares			Weighted			Weighted		Aggregate
					Average			Average		Intrinsic
					Exercise Price			Remaining		Value
								Contractual		(in thousands)
								Term (years)
	Outstanding, June 30, 2013		271,455		$	27.19
	Granted		40,000		$	38.71
	Exercised		(75,456	)	$	25.61
	Expired		(19,500	)	$	57.73
	Forfeited		(11,457	)	$	30.61
	Outstanding, March 30, 2014		205,042		$	26.92			6.3	$	9,042
	Exercisable, March 30, 2014		96,499		$	23.16			4	$	4,618
Intrinsic Value of Stock Options Exercised and the Fair Value of Stock Options Vested	'
	The intrinsic value of stock options exercised and the fair value of stock options vesting during the three and nine month periods presented below was as follows (in thousands):
		Three Months Ended						Nine Months Ended
		March 30,			March 31,			March 30,		March 31,
		2014			2013			2014		2013
	Intrinsic Value of Options Exercised	$	1,129		$	243		$	1,807	$	277
	Fair Value of Stock Options Vesting	$	29		$	124		$	444	$	266
Grant Date Fair Value and Assumptions Used to Determine Compensation Expense	'
	The grant date fair value and assumptions used to determine compensation expense for the options granted during each period presented below were as follows:
		Nine Months Ended
		March 30,			March 31,
		2014			2013
	Weighted Average Grant Date Fair Value:
	Options Issued at Grant Date Market Value		n/a			n/a
	Options Issued Above Grant Date Market Value	$	17.58		$	10.48
	Assumptions:
	Risk Free Interest Rate		2.06	%		0.95	%
	Expected Volatility		58.75	%		57.58	%
	Expected Dividend Yield		1.11	%		1.69	%
	Expected Term (in years)		6			6
Summary of Restricted Stock Activity Under Our Stock Incentive Plan	'
	A summary of restricted stock activity under our omnibus stock incentive plan for the nine months ended March 30, 2014 was as follows:
		Shares			Weighted
					Average
					Grant Date
					Fair Value
	Nonvested Balance, June 30, 2013		61,250		$	22.42
	Granted		24,950		$	37.29
	Vested		(19,350	)	$	20.4
	Forfeited		(3,250	)	$	27.88
	Nonvested Balance, March 30, 2014		63,600		$	28.64

Pension_and_Postretirement_Ben1

Pension and Postretirement Benefits (Tables)	9 Months Ended
	Mar. 30, 2014
Summarize the Net Periodic Benefit Cost	'
	The following tables summarize the net periodic benefit cost recognized for each of the periods indicated under these plans (in thousands):
		Pension Benefits						Postretirement Benefits
		Three Months Ended						Three Months Ended
		March 30,			March 31,			March 30,			March 31,
		2014			2013			2014			2013
	Service cost	$	54		$	41		$	4		$	4
	Interest cost		1,102			1,110			39			45
	Expected return on plan assets		(1,610	)		(1,530	)		-			-
	Settlement Loss		-			2,144			-			-
	Amortization of prior service cost (credit)		2			3			(191	)		(191	)
	Amortization of unrecognized net loss		666			1,111			212			225
	Net periodic benefit cost	$	214		$	2,879		$	64		$	83
		Pension Benefits						Postretirement Benefits
		Nine Months Ended						Nine Months Ended
		March 30,			March 31,			March 30,			March 31,
		2014			2013			2014			2013
	Service cost	$	163		$	145		$	11		$	11
	Interest cost		3,305			3,356			118			136
	Expected return on plan assets		(4,831	)		(4,594	)		-			-
	Settlement Loss		-			2,144			-			-
	Amortization of prior service cost (credit)		8			9			(573	)		(573	)
	Amortization of unrecognized net loss		1,999			3,373			635			674
	Net periodic benefit cost	$	644		$	4,433		$	191		$	248

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Mar. 30, 2014
Summary of Changes in Accumulated Other Comprehensive Loss	'
	The following table summarizes the changes in accumulated other comprehensive loss (“AOCL”) for the nine months ended March 30, 2014 (in thousands):
			Foreign			Retirement			Total
			Currency			and
			Translation			Postretirement
			Adjustments			Benefit Plans
	Balance, June 30, 2013		$	(3,268	)	$	(18,944	)	$	(22,212	)
	Other comprehensive loss before reclassifications			(263	)		-			(263	)
	Income tax			-			-			-
	Net other comprehensive loss before			(263	)		-			(263	)
	reclassifications
	Reclassifications:
	Prior service credits (A)			-			-564			(564	)
	Actuarial gains (A)			-			2,634			2,634
	Total reclassifications before tax			-			2,070			2,070
	Income tax			-			766			766
	Net reclassifications			-			1,304			1,304
	Other comprehensive (loss) income			(263	)		1,304			1,041
	Other comprehensive loss attributable to non-controlling interest			(12	)		-			(12	)
	Balance, March 30, 2014		$	(3,519	)	$	(17,640	)	$	(21,159	)
	(A)	Amounts reclassified are included in the computation of net periodic benefit cost. See Pension and Postretirement Benefits note to these condensed consolidated financial statements above.

Basis_of_Financial_Statements_

Basis of Financial Statements (Details Textual)	9 Months Ended
	Mar. 30, 2014
	Segment
Basis Of Financial Statements (Textual) [Abstract]	'
Number of reporting segments related to STRATTEC Security Corporation	1
NextLock LLC	'
Basis Of Financial Statements (Textual) [Abstract]	'
STRATTEC's percentage ownership in NextLock LLC joint venture	51.00%
VAST LLC	'
Basis Of Financial Statements (Textual) [Abstract]	'
Number of wholly owned and majority owned consolidated subsidiaries	3
Number of equity method joint ventures	1

Subsequent_Event_Details_Textu

Subsequent Event (Details Textual) (Subsequent Event)	0 Months Ended
	Apr. 02, 2014
Subsequent Event	'
Subsequent Event [Line Items]	'
Date the Board of Directors approved a resolution to terminate the qualified retirement plan	2-Apr-14
Qualified Retirement Plan participants' vesting percentage as of the final termination date of the plan	100.00%

Derivative_Instruments_Details

Derivative Instruments (Details Textual) (USD $)	9 Months Ended		12 Months Ended
	Mar. 30, 2014	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2013
	Contract	Contract	Currency Buy Sell Under Contract One	Currency Buy Sell Under Contract Two
Derivative Instruments (Textual) [Abstract]	'	'	'	'
Mexican peso contract: contract end date	'	'	28-Jun-13	28-Jun-13
Mexican Peso Option Contract - Contractual Exchange Rate	'	'	12.4	13.4
Premiums to be paid and received under the weekly Mexican peso currency option contracts net	$0	'	'	'
Number of Mexican peso currency option contracts outstanding	0	0	'	'

Derivative_Instruments_Details1

Derivative Instruments (Details) (Not Designated as Hedging Instrument, USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 30, 2014	Mar. 31, 2013	Mar. 30, 2014	Mar. 31, 2013
Not Designated as Hedging Instrument	'	'	'	'
Pre-tax effects of the Mexican peso option contracts	'	'	'	'
Realized Gain	$0	$2	$0	$2
Realized Loss	0	'	0	-34
Unrealized Gain	$0	$75	$0	$424

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments (Details) (USD $)	Mar. 30, 2014
In Thousands, unless otherwise specified
Level 1	'
Assets:	'
Total Assets at Fair Value	$1,887
Level 1 | Stock Index Funds | Small Cap	'
Assets:	'
Total Assets at Fair Value	285
Level 1 | Stock Index Funds | Mid Cap	'
Assets:	'
Total Assets at Fair Value	190
Level 1 | Stock Index Funds | Large Cap	'
Assets:	'
Total Assets at Fair Value	383
Level 1 | Stock Index Funds | International	'
Assets:	'
Total Assets at Fair Value	399
Level 1 | Fixed Income Fund | Bond Funds	'
Assets:	'
Total Assets at Fair Value	630
Level 1 | Cash and Cash Equivalents	'
Assets:	'
Total Assets at Fair Value	'
Level 2	'
Assets:	'
Total Assets at Fair Value	82
Level 2 | Stock Index Funds | Small Cap	'
Assets:	'
Total Assets at Fair Value	'
Level 2 | Stock Index Funds | Mid Cap	'
Assets:	'
Total Assets at Fair Value	'
Level 2 | Stock Index Funds | Large Cap	'
Assets:	'
Total Assets at Fair Value	'
Level 2 | Stock Index Funds | International	'
Assets:	'
Total Assets at Fair Value	'
Level 2 | Fixed Income Fund | Bond Funds	'
Assets:	'
Total Assets at Fair Value	'
Level 2 | Cash and Cash Equivalents	'
Assets:	'
Total Assets at Fair Value	82
Level 3	'
Assets:	'
Total Assets at Fair Value	0
Level 3 | Stock Index Funds | Small Cap	'
Assets:	'
Total Assets at Fair Value	0
Level 3 | Stock Index Funds | Mid Cap	'
Assets:	'
Total Assets at Fair Value	0
Level 3 | Stock Index Funds | Large Cap	'
Assets:	'
Total Assets at Fair Value	0
Level 3 | Stock Index Funds | International	'
Assets:	'
Total Assets at Fair Value	0
Level 3 | Fixed Income Fund | Bond Funds	'
Assets:	'
Total Assets at Fair Value	0
Level 3 | Cash and Cash Equivalents	'
Assets:	'
Total Assets at Fair Value	$0

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments (Details Textual) (USD $)	Mar. 30, 2014
Fair Value Of Financial Instruments (Textual) [Abstract]	'
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	$0

Equity_Earnings_Loss_of_Joint_2

Equity Earnings (Loss) of Joint Ventures (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 30, 2014	Mar. 31, 2013	Mar. 30, 2014	Mar. 31, 2013
Summarized statements of operations	'	'	'	'
Equity earnings (loss) of joint ventures	$267	($291)	$858	($402)
VAST LLC	'	'	'	'
Summarized statements of operations	'	'	'	'
Net Sales	28,590	23,767	80,254	67,732
Cost of Goods Sold	24,771	20,611	68,129	56,514
Gross Profit	3,819	3,156	12,125	11,218
Engineering, Selling and Administrative Expenses	3,671	4,268	9,952	12,989
Income (Loss) From Operations	148	-1,112	2,173	-1,771
Other Income, net	1,683	173	1,662	472
Income (Loss) before Provision for Income taxes	1,831	-939	3,835	-1,299
Provision for (benefit from) Income Taxes	758	-69	523	-83
Net Income (Loss)	1,073	-870	3,312	-1,216
STRATTEC’s Share of VAST LLC Net Income (Loss)	358	-290	1,104	-405
Intercompany Profit Elimination	7	-1	3	3
Equity earnings (loss) of joint ventures	365	-291	1,107	-402
NextLock LLC	'	'	'	'
Summarized statements of operations	'	'	'	'
Engineering, Selling and Administrative Expenses	189	0	486	0
Income (Loss) From Operations	-189	0	-486	0
Net Income (Loss)	-189	0	-486	0
Equity earnings (loss) of joint ventures	($98)	$0	($249)	$0

Equity_Earnings_Loss_of_Joint_3

Equity Earnings (Loss) of Joint Ventures (Details Textual) (NextLock LLC)	Mar. 30, 2014	Apr. 30, 2013
NextLock LLC	'	'
Equity Loss of Joint Ventures (Textual) [Abstract]	'	'
STRATTEC's percentage ownership in NextLock LLC joint venture	51.00%	51.00%

Credit_Facilities_and_Guarante1

Credit Facilities and Guarantees (Details Textual) (USD $)	3 Months Ended	6 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Mar. 30, 2014	Dec. 29, 2013	Mar. 30, 2014	Mar. 31, 2013	Jun. 30, 2013
ADAC-STRATTEC credit facility	'	'	'	'	'
Credit Facilities And Guarantees Textual [Abstract]	'	'	'	'	'
Secured revolving credit facility	$5	'	$5	'	'
Expiry date of credit facility	'	'	1-Aug-16	'	'
Interest rate on borrowings under the credit facility	'LIBOR plus 1.0 percent or the bank’s prime rate	'LIBOR plus 1.75 percent or the bank’s prime rate	'	'	'
Interest rate – percentage points added to LIBOR – on borrowings under credit facility	1.00%	1.75%	'	'	'
Outstanding borrowing	2.5	'	2.5	'	2.25
Average borrowings under the credit facility during the period	'	'	2.7	1	'
Weighted average interest rate	'	'	1.80%	2.00%	'
Strattec	'	'	'	'	'
Credit Facilities And Guarantees Textual [Abstract]	'	'	'	'	'
Secured revolving credit facility	25	'	25	'	'
Expiry date of credit facility	'	'	1-Aug-16	'	'
Interest rate on borrowings under the credit facility	'	'	'London Interbank Offering Rate (“LIBOR”) plus 1.0 percent or the bank’s prime rate	'	'
Interest rate – percentage points added to LIBOR – on borrowings under credit facility	'	'	1.00%	'	'
Outstanding borrowing	$0	'	$0	'	$0

Environmental_Reserve_Details_

Environmental Reserve (Details Textual) (USD $)	9 Months Ended	12 Months Ended
	Mar. 30, 2014	Jun. 27, 2010	Jun. 30, 2013
Environmental Reserve Textual [Abstract]	'	'	'
Environmental reserve originally established in 1995	$3,000,000	'	'
Reserve reduced	'	1,100,000	'
Environmental reserve	1,397,000	1,500,000	1,414,000
Costs incurred to date to install and monitor wells	$478,000	'	'

Shareholders_Equity_Details

Shareholders' Equity (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 30, 2014	Mar. 31, 2013	Mar. 30, 2014	Mar. 31, 2013
Summary of activity impacting shareholders' equity	'	'	'	'
Beginning Balance	'	'	$111,880	'
Net income	4,217	1,438	12,752	7,593
Dividend Declared	'	'	-1,150	'
Dividend Declared – Non-controlling Interests of Subsidiaries	'	'	-984	'
Translation adjustments	-124	1,067	-263	1,753
Stock Based Compensation	'	'	880	756
Tax Benefit – Dividend Paid on Restricted Shares	'	'	6	'
Retirement and postretirement plans, net of tax	435	3,621	1,304	3,621
Employee Stock Purchases and Stock Option Exercises	'	'	2,428	'
Ending Balance	126,853	'	126,853	'
Equity Attributable to STRATTEC	'	'	'	'
Summary of activity impacting shareholders' equity	'	'	'	'
Beginning Balance	'	'	104,218	'
Net income	'	'	10,685	'
Dividend Declared	'	'	-1,150	'
Dividend Declared – Non-controlling Interests of Subsidiaries	'	'	0	'
Translation adjustments	'	'	-251	'
Stock Based Compensation	'	'	880	'
Tax Benefit – Dividend Paid on Restricted Shares	'	'	6	'
Retirement and postretirement plans, net of tax	'	'	1,304	'
Employee Stock Purchases and Stock Option Exercises	'	'	2,428	'
Ending Balance	118,120	'	118,120	'
Equity Attributable to Non-Controlling Interest	'	'	'	'
Summary of activity impacting shareholders' equity	'	'	'	'
Beginning Balance	'	'	7,662	'
Net income	'	'	2,067	'
Dividend Declared	'	'	0	'
Dividend Declared – Non-controlling Interests of Subsidiaries	'	'	-984	'
Translation adjustments	'	'	-12	'
Stock Based Compensation	'	'	0	'
Tax Benefit – Dividend Paid on Restricted Shares	'	'	0	'
Retirement and postretirement plans, net of tax	'	'	0	'
Employee Stock Purchases and Stock Option Exercises	'	'	0	'
Ending Balance	$8,733	'	$8,733	'

Other_Income_Expense_Net_Detai

Other Income (Expense), Net (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 30, 2014	Mar. 31, 2013	Mar. 30, 2014	Mar. 31, 2013
Foreign Currency Transaction Gain (Loss)	$36	($987)	$74	($1,300)
Rabbi Trust Gain	27	103	132	156
Unrealized Gain on Mexican Peso Option Contracts	0	75	0	424
Realized Gain (Loss) on Mexican Peso Option Contracts, net	0	2	0	-32
Other	8	48	90	162
Total	$71	($759)	$296	($590)

Income_Taxes_Details_Textual

Income Taxes (Details Textual) (USD $)	3 Months Ended	9 Months Ended
	Mar. 30, 2014	Mar. 30, 2014
Income Taxes (Textual) [Abstract]	'	'
Amount of change in unrecognized tax benefit liability	($307,000)	($307,000)

Earnings_Per_Share_EPS_Details

Earnings Per Share (EPS) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 30, 2014	Mar. 31, 2013	Mar. 30, 2014	Mar. 31, 2013
Reconciliation of the components of the basic and diluted per share	'	'	'	'
Net Income Attributable to STRATTEC SECURITY CORPORATION	$3,601	$1,094	$10,685	$6,158
Less: Income Attributable to Participating Securities	65	20	193	114
Net Income Attributable to Common Shareholders	$3,536	$1,074	$10,492	$6,044
Basic Weighted Average Shares of Common Stock Outstanding	3,443	3,327	3,413	3,318
Incremental Shares – Stock based Compensation	91	62	81	43
Diluted Weighted Average Shares of Common Stock Outstanding	3,534	3,389	3,494	3,361
Basic Earnings Per Share	$1.03	$0.32	$3.07	$1.82
Diluted Earnings Per Share	$1	$0.32	$3	$1.80

Earnings_Per_Share_EPS_Details1

Earnings Per Share (EPS) (Details Textual) (Stock Options)	9 Months Ended
	Mar. 30, 2014	Mar. 31, 2013
Stock Options	'	'
Earnings per share (Textual) [Abstract]	'	'
Antidilutive options excluded from earnings per share computation	49,340	166,000

StockBased_Compensation_Detail

Stock-Based Compensation (Details Textual) (USD $)	9 Months Ended
	Mar. 30, 2014
Stock Based Compensation Additional Textual [Abstract]	'
Designated shares of common stock available for the grant of awards	1,700,000
Shares of common stock available for grant	123,250
Stock Options	'
Stock Based Compensations Textual [Abstract]	'
Unrecognized compensation cost related to stock options	$732,000
Weighted average period over which unrecognized compensation is expected to be recognized	'1 year
Stock Options | Minimum	'
Stock Based Compensations Textual [Abstract]	'
Options expires after the grant date	'5 years
Stock based awards vest after date of grant	'1 year
Stock Options | Maximum	'
Stock Based Compensations Textual [Abstract]	'
Options expires after the grant date	'10 years
Stock based awards vest after date of grant	'4 years
Restricted Stock	'
Stock Based Compensations Textual [Abstract]	'
Stock based awards vest after date of grant	'3 years
Unrecognized compensation cost related to stock grants	$755,000
Weighted average period over which unrecognized compensation is expected to be recognized	'1 year

StockBased_Compensation_Detail1

Stock-Based Compensation (Details) (USD $)	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 30, 2014
Summary of stock option activity under our stock incentive plan	'
Shares, Beginning Balance	271,455
Shares, Granted	40,000
Shares, Exercised	-75,456
Shares, Expired	-19,500
Shares, Forfeited	-11,457
Shares, Ending Balance	205,042
Shares, Exercisable	96,499
Weighted Average Exercise Price, Beginning Balance	$27.19
Weighted Average Exercise Price, Granted	$38.71
Weighted Average Exercise Price, Exercised	$25.61
Weighted Average Exercise Price, Expired	$57.73
Weighted Average Exercise Price, Forfeited	$30.61
Weighted Average Exercise Price, Ending Balance	$26.92
Weighted Average Exercise Price, Exercisable	$23.16
Weighted Average Remaining Contractual Term, Outstanding, March 30, 2014	'6 years 3 months 18 days
Weighted Average Remaining Contractual Term, Exercisable, March 30, 2014	'4 years
Aggregate Intrinsic Value, Outstanding, March 30, 2014	$9,042
Aggregate Intrinsic Value, Exercisable, March 30, 2014	$4,618

StockBased_Compensation_Detail2

Stock-Based Compensation (Details 1) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 30, 2014	Mar. 31, 2013	Mar. 30, 2014	Mar. 31, 2013
Intrinsic value of stock options exercised and the fair value of stock options vested	'	'	'	'
Intrinsic Value of Options Exercised	$1,129	$243	$1,807	$277
Fair Value of Stock Options Vesting	$29	$124	$444	$266

StockBased_Compensation_Detail3

Stock-Based Compensation (Details 2) (USD $)	9 Months Ended
	Mar. 30, 2014	Mar. 31, 2013
Assumptions:	'	'
Risk Free Interest Rate	2.06%	0.95%
Expected Volatility	58.75%	57.58%
Expected Dividend Yield	1.11%	1.69%
Expected Term (in years)	'6 years	'6 years
Options Issued At Grant Date Market Value	'	'
Weighted Average Grant Date Fair Value:	'	'
Weighted Average Grant Date Fair Value	'	'
Options Issued Above Grant Date Market Value	'	'
Weighted Average Grant Date Fair Value:	'	'
Weighted Average Grant Date Fair Value	17.58	10.48

StockBased_Compensation_Detail4

Stock-Based Compensation (Details 3) (Restricted Stock, USD $)	9 Months Ended
	Mar. 30, 2014
Restricted Stock	'
Summary of restricted stock activity under our stock incentive plan	'
Nonvested, Shares Beginning Balance	61,250
Granted, Shares	24,950
Vested, Shares	-19,350
Forfeited, Shares	-3,250
Nonvested, Shares Ending Balance	63,600
Nonvested, Weighted Average Grant Date Fair Value Beginning Balance	$22.42
Granted, Weighted Average Grant Date Fair Value	$37.29
Vested, Weighted Average Grant Date Fair Value	$20.40
Forfeited, Weighted Average Grant Date Fair Value	$27.88
Nonvested, Weighted Average Grant Date Fair Value Ending Balance	$28.64

Pension_and_Postretirement_Ben2

Pension and Postretirement Benefits (Details Textual) (USD $)	9 Months Ended
	Mar. 30, 2014	Mar. 31, 2013
Pension and Other Postretirement Benefits (Textual) [Abstract]	'	'
Supplemental executive retirement plan annual benefit accrual percentage	8.00%	'
Postretirement plan annual benefit limit for future eligible retirees	$4,000	'
Other postretirement benefits maximum benefit period	'5 years	'
Contributions to the qualified pension plan	1,500,000	1,750,000
Expected additional employer contributions during remainder of fiscal 2014	$1,500,000	'

Pension_and_Postretirement_Ben3

Pension and Postretirement Benefits (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 30, 2014	Mar. 31, 2013	Mar. 30, 2014	Mar. 31, 2013
Components of Net Periodic Benefit Cost:	'	'	'	'
Settlement Loss	$0	$2,144	$0	$2,144
Pension Benefits	'	'	'	'
Components of Net Periodic Benefit Cost:	'	'	'	'
Service cost	54	41	163	145
Interest cost	1,102	1,110	3,305	3,356
Expected return on plan assets	-1,610	-1,530	-4,831	-4,594
Settlement Loss	0	2,144	0	2,144
Amortization of prior service cost (credit)	2	3	8	9
Amortization of unrecognized net loss	666	1,111	1,999	3,373
Net periodic benefit cost	214	2,879	644	4,433
Postretirement Benefits	'	'	'	'
Components of Net Periodic Benefit Cost:	'	'	'	'
Service cost	4	4	11	11
Interest cost	39	45	118	136
Expected return on plan assets	0	'	0	'
Settlement Loss	0	'	0	'
Amortization of prior service cost (credit)	-191	-191	-573	-573
Amortization of unrecognized net loss	212	225	635	674
Net periodic benefit cost	$64	$83	$191	$248

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Loss (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 30, 2014	Mar. 31, 2013	Mar. 30, 2014		Mar. 31, 2013
Accumulated Other Comprehensive Income Loss [Line Items]	'	'	'		'
Beginning balance	'	'	($22,212)		'
Other comprehensive loss before reclassifications	'	'	-263		'
Foreign Currency Translation Adjustments, Income tax	'	'	0		'
Net other comprehensive loss before reclassifications	'	'	-263		'
Total reclassifications before tax	'	'	2,070		'
Retirement and Postretirement Benefit Plans, Income tax	'	'	766		'
Net reclassifications	'	'	1,304		'
Other comprehensive (loss) income	311	4,688	1,041		5,374
Other comprehensive loss attributable to non-controlling interest	'	'	-12		'
Ending balance	-21,159	'	-21,159		'
Foreign Currency Translation Adjustments	'	'	'		'
Accumulated Other Comprehensive Income Loss [Line Items]	'	'	'		'
Beginning balance	'	'	-3,268		'
Other comprehensive loss before reclassifications	'	'	-263		'
Foreign Currency Translation Adjustments, Income tax	'	'	0		'
Net other comprehensive loss before reclassifications	'	'	-263		'
Total reclassifications before tax	'	'	0		'
Retirement and Postretirement Benefit Plans, Income tax	'	'	0		'
Net reclassifications	'	'	0		'
Other comprehensive (loss) income	'	'	-263		'
Other comprehensive loss attributable to non-controlling interest	'	'	-12		'
Ending balance	-3,519	'	-3,519		'
Retirement and Postretirement Benefit Plans	'	'	'		'
Accumulated Other Comprehensive Income Loss [Line Items]	'	'	'		'
Beginning balance	'	'	-18,944		'
Other comprehensive loss before reclassifications	'	'	0		'
Foreign Currency Translation Adjustments, Income tax	'	'	0		'
Net other comprehensive loss before reclassifications	'	'	0		'
Total reclassifications before tax	'	'	2,070		'
Retirement and Postretirement Benefit Plans, Income tax	'	'	766		'
Net reclassifications	'	'	1,304		'
Other comprehensive (loss) income	'	'	1,304		'
Other comprehensive loss attributable to non-controlling interest	'	'	0		'
Ending balance	-17,640	'	-17,640		'
Prior service credits	'	'	'		'
Accumulated Other Comprehensive Income Loss [Line Items]	'	'	'		'
Total reclassifications before tax	'	'	-564	[1]	'
Prior service credits | Foreign Currency Translation Adjustments	'	'	'		'
Accumulated Other Comprehensive Income Loss [Line Items]	'	'	'		'
Total reclassifications before tax	'	'	0	[1]	'
Prior service credits | Retirement and Postretirement Benefit Plans	'	'	'		'
Accumulated Other Comprehensive Income Loss [Line Items]	'	'	'		'
Total reclassifications before tax	'	'	-564	[1]	'
Actuarial gains	'	'	'		'
Accumulated Other Comprehensive Income Loss [Line Items]	'	'	'		'
Total reclassifications before tax	'	'	2,634	[1]	'
Actuarial gains | Foreign Currency Translation Adjustments	'	'	'		'
Accumulated Other Comprehensive Income Loss [Line Items]	'	'	'		'
Total reclassifications before tax	'	'	0	[1]	'
Actuarial gains | Retirement and Postretirement Benefit Plans	'	'	'		'
Accumulated Other Comprehensive Income Loss [Line Items]	'	'	'		'
Total reclassifications before tax	'	'	$2,634	[1]	'
[1]	Amounts reclassified are included in the computation of net periodic benefit cost. See Pension and Postretirement Benefits note to these condensed consolidated financial statements above.