Strattec Security (STRT) 10-Q 6 Feb 15 2015 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Dec. 28, 2014
Document And Entity Information [Abstract]
Entity Registrant Name	STRATTEC SECURITY CORP
Entity Central Index Key	933034
Document Type	10-Q
Document Period End Date	28-Dec-14
Amendment Flag	FALSE
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Trading Symbol	STRT
Current Fiscal Year End Date	-22
Entity Filer Category	Accelerated Filer
Entity Common Stock Shares Outstanding	3,587,151

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 28, 2014	Dec. 29, 2013	Dec. 28, 2014	Dec. 29, 2013
Income Statement [Abstract]
Net sales	$101,990	$81,484	$224,232	$161,079
Cost of goods sold	83,538	65,541	177,723	130,621
Gross profit	18,452	15,943	46,509	30,458
Engineering, selling and administrative expenses	10,490	9,250	23,677	18,720
Income from operations	7,962	6,693	22,832	11,738
Interest income	43	21	65	27
Equity (loss) earnings of joint ventures	-121	297	69	591
Interest expense	-11	-15	-22	-29
Other income (expense), net	1,823	-54	2,611	225
Income before provision for income taxes and non-controlling interest	9,696	6,942	25,555	12,552
Provision for income taxes	2,795	2,261	8,314	4,017
Net income	6,901	4,681	17,241	8,535
Net income attributable to non-controlling interest	1,123	808	2,163	1,451
Net income attributable to STRATTEC SECURITY CORPORATION	5,778	3,873	15,078	7,084
Comprehensive Income:
Net income	6,901	4,681	17,241	8,535
Pension and postretirement plans, net of tax	428	434	856	869
Currency translation adjustments	-2,590	197	-3,442	-139
Other comprehensive (loss) income, net of tax	-2,162	631	-2,586	730
Comprehensive income	4,739	5,312	14,655	9,265
Comprehensive income attributable to non-controlling interest	965	817	1,941	1,440
Comprehensive income attributable to STRATTEC SECURITY CORPORATION	$3,774	$4,495	$12,714	$7,825
Earnings per share attributable to STRATTEC SECURITY CORPORATION:
Basic	$1.62	$1.11	$4.25	$2.05
Diluted	$1.58	$1.09	$4.13	$2
Average shares outstanding:
Basic	3,518	3,413	3,507	3,397
Diluted	3,612	3,487	3,603	3,473
Cash dividends declared per share	$0.12	$0.11	$0.24	$0.22

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Dec. 28, 2014	Jun. 29, 2014
In Thousands, unless otherwise specified
Current Assets:
Cash and cash equivalents	$19,843	$19,756
Receivables, net	61,537	68,822
Inventories
Finished products	12,536	9,034
Work in process	8,181	7,386
Purchased materials	20,471	16,232
Excess and obsolete reserve	-2,295	-2,150
Inventories, net	38,893	30,502
Other current assets	16,143	16,559
Total current assets	136,416	135,639
Investment in joint ventures	10,687	9,977
Other long-term assets	12,862	11,639
Property, plant and equipment	187,107	172,717
Less: accumulated depreciation	-119,832	-116,936
Net property, plant and equipment	67,275	55,781
Total assets	227,240	213,036
Current Liabilities:
Accounts payable	33,179	36,053
Accrued Liabilities:
Payroll and benefits	19,667	18,058
Environmental	1,389	1,397
Warranty	3,640	3,462
Other	6,455	6,293
Total current liabilities	64,330	65,263
Deferred income taxes	5,184	5,127
Borrowings under credit facility	3,500	2,500
Accrued pension obligations	1,684	1,619
Accrued postretirement obligations	1,863	2,223
Other long-term liabilities	1,440	1,401
Shareholders’ Equity:
Common stock, authorized 12,000,000 shares, $.01 par value, issued 7,144,678 shares at December 28, 2014 and 7,110,308 shares at June 29, 2014	71	71
Capital in excess of par value	88,464	87,054
Retained earnings	208,722	194,498
Accumulated other comprehensive loss	-22,562	-20,198
Less: treasury stock, at cost (3,625,027 shares at December 28, 2014 and 3,625,492 shares at June 29, 2014)	-135,912	-135,919
Total STRATTEC SECURITY CORPORATION shareholders’ equity	138,783	125,506
Non-controlling interest	10,456	9,397
Total shareholders’ equity	149,239	134,903
Total liabilities and shareholders' equity	$227,240	$213,036

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 28, 2014	Jun. 29, 2014
Statement Of Financial Position [Abstract]
Common stock, shares authorized	12,000,000	12,000,000
Common stock, par value	$0.01	$0.01
Common stock, shares issued	7,144,678	7,110,308
Treasury stock, shares	3,625,027	3,625,492

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2014	Dec. 29, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$17,241	$8,535
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4,261	4,167
Foreign currency transaction gain	-2,421	-38
Stock based compensation expense	700	630
Equity earnings of joint ventures	-69	-591
Change in operating assets and liabilities:
Receivables	6,780	3,153
Inventories	-8,391	-5,723
Other assets	207	-3,712
Accounts payable and accrued liabilities	-781	272
Other, net	157	74
Net cash provided by operating activities	17,684	6,767
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in joint ventures	-384
Loan to joint ventures	-215
Purchase of property, plant and equipment	-16,955	-6,450
Proceeds received on sale of property, plant and equipment		21
Net cash used in investing activities	-17,554	-6,429
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under credit facility	1,500	750
Repayments of borrowings under credit facility	-500
Dividends paid to non-controlling interests of subsidiaries	-882	-984
Dividends paid	-854	-764
Exercise of stock options and employee stock purchases	714	789
Net cash used in financing activities	-22	-209
Foreign currency impact on cash	-21	-48
NET INCREASE IN CASH AND CASH EQUIVALENTS	87	81
CASH AND CASH EQUIVALENTS
Beginning of period	19,756	20,307
End of period	19,843	20,388
Cash paid during the period for:
Income taxes	10,207	1,582
Interest	17	23
Non-cash investing activities:
Change in capital expenditures in accounts payable	$274

Basis_of_Financial_Statements

Basis of Financial Statements	6 Months Ended
	Dec. 28, 2014
Organization Consolidation And Presentation Of Financial Statements [Abstract]
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 the products of each company to global customers under the “VAST” brand name. STRATTEC 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 2013, we acquired a 51 percent ownership interest in NextLock LLC, a newly formed joint venture which will introduce a new generation of biometric security products based upon the designs of Actuator Systems LLC, our partner and the owner of the remaining ownership interest. We anticipate shipment of new biometric security products to begin in the second half 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 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 29, 2014, 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 2014 Annual Report, which was filed with the Securities and Exchange Commission as an exhibit to our Form 10-K on September 5, 2014.

New_Accounting_Standard

New Accounting Standard	6 Months Ended
	Dec. 28, 2014
Accounting Changes And Error Corrections [Abstract]
New Accounting Standard	New Accounting Standard
	In May 2014, the FASB issued an update to the accounting guidance for the recognition of revenue arising from contracts with customers. The update supersedes most current revenue recognition guidance and outlines a single comprehensive model for revenue recognition based on the principle that an entity should recognize revenue in an amount that reflects the expected consideration to be received in the exchange of goods and services. The guidance update also required additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. The guidance update is effective for annual reporting periods beginning after December 15, 2016 and becomes effective for us at the beginning of our 2018 fiscal year. Early adoption is not permitted. We are currently assessing the impact that this guidance will have on our consolidated financial statements.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	6 Months Ended
	Dec. 28, 2014
Fair Value Disclosures [Abstract]
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 December 28, 2014 and June 29, 2014. 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 December 28, 2014 (in thousands of dollars):
		Fair Value Inputs
		Level 1 Assets:		Level 2 Assets:		Level 3 Assets:
		Quoted Prices		Observable		Unobservable
		In Active Markets		Inputs Other		Inputs
				Than Market Prices
	Assets:
	Rabbi Trust Assets:
	Stock Index Funds:
	Small Cap	$	353	$	-	$	-
	Mid Cap		241		-		-
	Large Cap		482		-		-
	International		410		-		-
	Fixed Income Funds		753		-		-
	Cash and Cash Equivalents		-		28		-
	Total Assets at Fair Value	$	2,239	$	28	$	-
	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 three or six month periods ended December 28, 2014.

Equity_Earnings_of_Joint_Ventu

Equity Earnings of Joint Ventures	6 Months Ended
	Dec. 28, 2014
Equity Method Investments And Joint Ventures [Abstract]
Equity Earnings of Joint Ventures	Equity Earnings 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 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							Six Months Ended
			December 28,				December 29,				December 28,				December 29,
			2014				2013				2014				2013
	Net Sales		$	35,663			$	27,135			$	66,661			$	51,664
	Cost of Goods Sold			30,469				22,943				56,552				43,358
	Gross Profit			5,194				4,192				10,109				8,306
	Engineering, Selling and Administrative Expenses			4,590				2,791				8,788				6,281
	Income From Operations			604				1,401				1,321				2,025
	Other Income (Expense), net			183				(19	)			656				(21	)
	Income before Provision for Income taxes			787				1,382				1,977				2,004
	Provision for (Benefit from) Income Taxes			376				219				435				(235	)
	Net Income		$	411			$	1,163			$	1,542			$	2,239
	STRATTEC’s Share of VAST LLC Net Income		$	137			$	387				514			$	746
	Intercompany Profit Elimination			5				2				4				(4	)
	STRATTEC’s Equity Earnings of VAST LLC		$	142			$	389			$	518			$	742
	During 2013, we acquired a 51% ownership interest in a newly formed joint venture company, NextLock LLC, which will 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 during the second half of our 2015 fiscal year through this new joint venture. Our investment in NextLock LLC, 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								Six Months Ended
			December 28,				December 29,				December 28,				December 29,
			2014				2013				2014				2013
	Engineering, Selling and Administrative Expenses		$	516			$	181			$	880			$	297
	Loss From Operations			(516	)			(181	)			(880	)			(297	)
	Net Loss		$	(516	)		$	(181	)		$	(880	)		$	(297	)
	STRATTEC’s Equity Loss of NextLock LLC		$	(263	)		$					(449	)
								(92	)		$				$	(151	)
	We have sales of component parts to VAST LLC and NextLock LLC, purchases of component parts from VAST LLC, expenses charged to VAST LLC for engineering and accounting services and expenses charged to us from VAST LLC for general headquarters expenses.  The following tables summarize these related party transactions with VAST LLC and NextLock LLC for the periods indicated below (thousands of dollars):
		Three Months Ended								Six Months Ended
		December 28,				December 29,				December 28, 2014				December 29, 2013
		2014				2013
	Sales to VAST LLC	$	657			$	55			$	771			$	95
	Sales to NextLock LLC	$	27			$	-			$	32			$	-
	Purchases from VAST LLC	$	41			$	43			$	80			$	158
	Expenses Charged to VAST LLC	$	245			$	159			$	404			$	399
	Expenses Charged from VAST LLC	$	457			$	303			$	940			$	585

Credit_Facilities_and_Guarante

Credit Facilities and Guarantees	6 Months Ended
	Dec. 28, 2014
Debt Disclosure [Abstract]
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 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 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.  Interest on borrowings under the STRATTEC credit facility and effective on or after January 22, 2014 under the ADAC-STRATTEC Credit Facility is at varying rates based, at our option, 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. As of December 28, 2014, we were in compliance with all financial covenants.
	Outstanding borrowings under the credit facilities were as follows (thousands of dollars):
		December 28,		June 29,
		2014		2014
	STRATTEC Credit Facility	$	-	$	-
	ADAC-STRATTEC Credit Facility	$	3,500	$	2,500
	Average outstanding borrowings and the weighted average interest rate under each credit facility were as follows for each period presented (thousands of dollars):
		Six Months Ended
		Average Outstanding Borrowings				Weighted Average Interest Rate
		28-Dec-14		29-Dec-13		28-Dec-14			29-Dec-13
	STRATTEC Credit Facility	$	-	$	-		-	%		-	%
	ADAC-STRATTEC Credit Facility	$	3,819	$	2,800		1.2	%		1.9	%

Environmental_Reserve

Environmental Reserve	6 Months Ended
	Dec. 28, 2014
Environmental Remediation Obligations [Abstract]
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 December 28, 2014, costs of approximately $486,000 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 December 28, 2014, is adequate.

Shareholders_Equity

Shareholders' Equity	6 Months Ended
	Dec. 28, 2014
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity
	A summary of activity impacting shareholders’ equity for the six month period ended December 28, 2014 was as follows (in thousands):
		Total			Equity			Equity Attributable to Non-Controlling
		Shareholders’			Attributable to			Interest
		Equity			STRATTEC
	Balance, June 29, 2014	$	134,903		$	125,506		$	9,397
	Net Income		17,241			15,078			2,163
	Dividend Declared		(854	)		(854	)		-
	Dividend Declared – Non-controlling Interests of Subsidiaries		(882	)		-			(882	)
	Translation adjustments		(3,442	)		(3,220	)		(222	)
	Stock Based Compensation		700			700			-
	Tax Benefit – Dividend Paid on Restricted Shares		3			3			-
	Pension and Postretirement Adjustment, Net of tax		856			856			-
	Employee Stock Purchases and Stock Option Exercises		714			714			-
	Balance, December 28, 2014	$	149,239		$	138,783		$	10,456

Other_Income_Expense_Net

Other Income (Expense), Net	6 Months Ended
	Dec. 28, 2014
Other Income And Expenses [Abstract]
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 and Rabbi Trust gains and losses. Foreign currency transaction gains and losses resulted from activity associated with foreign denominated assets held by our Mexican subsidiaries. The Rabbi Trust assets fund our amended and restated supplemental executive retirement plan. The investments held in this Trust are considered trading securities.
	The impact of these items for each of the periods presented was as follows (in thousands):
		Three Months Ended					Six Months Ended
		December 28,		December 29,			December 28,		December 29,
		2014		2013			2014		2013
	Foreign Currency Transaction Gain (Loss)	$	1,635	$	(174	)	$	2,421	$	38
	Rabbi Trust Gain		45		57			18		105
	Other		143		63			172		82
		$	1,823	$	-54		$	2,611	$	225

Income_Taxes

Income Taxes	6 Months Ended
	Dec. 28, 2014
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes
	The income tax provisions for the three and six month periods ended December 28, 2014 and December 29, 2013 were affected by the non-controlling interest portion of our pre-tax income.  The income tax provision for the three and six month periods ended December 28, 2014 and December 29, 2013 were 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.

Earnings_Per_Share_EPS

Earnings Per Share (''EPS'')	6 Months Ended
	Dec. 28, 2014
Earnings Per Share [Abstract]
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 follows (in thousands, except per share amounts):
		Three Months Ended				Six Months Ended
		December 28,		December 29,		December 28,		December 29,
		2014		2013		2014		2013
	Net Income Attributable to STRATTEC SECURITY CORPORATION	$	5,778	$	3,873	$	15,078	$	7,084
	Less: Income Attributable to Participating Securities		71		69		191		129
	Net Income Attributable to Common Shareholders	$	5,707	$	3,804	$	14,887	$	6,955
			3,518		3,413		3,507		3,397
	Basic Weighted Average Shares of Common Stock Outstanding
	Incremental Shares – Stock based Compensation		94		74		96		76
	Diluted Weighted Average Shares of Common Stock Outstanding		3,612		3,487		3,603		3,473
		$	1.62	$	1.11	$	4.25	$	2.05
	Basic Earnings Per Share
	Diluted Earnings Per Share	$	1.58	$	1.09	$	4.13	$	2
	We consider unvested restricted stock that provides the holder with a non-forfeitable right to receive dividends to be a participating security.
	As of December 28, 2014, options to purchase 9,010 shares of common stock were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.  As of December 29, 2013, options to purchase 67,340 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	6 Months Ended
	Dec. 28, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
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. As of December 28, 2014, the Board of Directors had designated 1,850,000 shares of common stock available for the grant of awards under the plan. Remaining shares available to be granted under the plan as of December 28, 2014 were 253,139. 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 the 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 the 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 rights, regardless if the shares are vested or unvested. Restricted shares granted prior to August 2014 have dividend rights, regardless if the shares are vested or unvested. Commencing in August 2014 and thereafter, shares of restricted stock are not entitled to receive any cash dividends if they are unvested as of the record date. 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 six months ended December 28, 2014 was as follows:
		Shares			Weighted			Weighted		Aggregate
					Average			Average		Intrinsic
					Exercise Price			Remaining		Value
								Contractual		(in thousands)
								Term (years)
	Outstanding, June 29, 2014		185,242		$	24.73
	Granted		10,000		$	79.73
	Exercised		(16,570	)	$	21.84
	Forfeited		(8,589	)	$	37.43
	Outstanding, December 28, 2014		170,083		$	27.61			6.2	$	9,695
	Exercisable, December 28, 2014		97,279		$	19.75			4.5	$	6,310
	The intrinsic value of stock options exercised and the fair value of stock options vesting during the three and six month periods presented below was as follows (in thousands):
		Three Months Ended						Six Months Ended
		December 28,			December 29,			December 28,		December 29,
		2014			2013			2014		2013
	Intrinsic Value of Options Exercised	$	290		$	623		$	990	$	678
	Fair Value of Stock Options Vesting	$	-		$	142		$	382	$	415
	The grant date fair value and assumptions used to determine compensation expense for the options granted during each period presented below were as follows:
		Six Months Ended
		December 28,			December 29,
		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	$	34.93		$	17.58
	Assumptions:
	Risk Free Interest Rate		1.9	%		2.06	%
	Expected Volatility		57.83	%		58.75	%
	Expected Dividend Yield		0.62	%		1.11	%
	Expected Term (in years)		6			6
	A summary of restricted stock activity under our omnibus stock incentive plan for the six months ended December 28, 2014 was as follows:
		Shares			Weighted
					Average
					Grant Date
					Fair Value
	Nonvested Balance, June 29, 2014		63,600		$	28.64
	Granted		25,000		$	70.9
	Vested		(17,800	)	$	23.01
	Forfeited		(3,300	)	$	44.92
	Nonvested Balance, December 28, 2014		67,500		$	44.98
	As of December 28, 2014, there was $658,000 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 remaining weighted average period of 1.0 years. As of December 28, 2014, there was approximately $1.7 million of total unrecognized compensation cost related to unvested restricted stock grants outstanding under the plan. This cost is expected to be recognized over a remaining weighted average period of 1.2 years. 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	6 Months Ended
	Dec. 28, 2014
Compensation And Retirement Disclosure [Abstract]
Pension and Postretirement Benefits	Pension and Postretirement Benefits
	We have a qualified, noncontributory defined benefit pension plan (“Qualified 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 Pension Plan discontinued the benefit accruals for salary increases and credited service rendered after that date.  On April 2, 2014, our Board of Directors approved a resolution to terminate the Qualified Pension Plan.  The termination of the Qualified Pension Plan is subject to the Internal Revenue Service’s (“IRS”) determination that the Qualified Pension Plan is qualified on termination.  We believe it will take 18 to 24 months to finalize the complete termination of the Qualified Pension Plan after obtaining IRS approval.  Additionally, we have amended the Qualified Pension Plan to provide that participants are 100 percent 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, to add a lump sum distribution for employees and terminated vested participants who are not in payment status when Qualified Pension Plan assets are distributed due to the termination and to make certain other conforming amendments to the Qualified Pension Plan to comply with applicable laws that may be required by the IRS or may be deemed necessary or advisable to improve the administration of the Qualified Pension Plan or facilitate its termination and liquidation.  We also intend to make contributions to the Trust Fund for the Qualified Pension Plan to ensure that there are sufficient assets to provide all Qualified Pension Plan benefits as of the anticipated distribution date.  The financial impact of the plan termination will be recognized as a settlement of the Qualified Pension Plan liabilities.  The settlement date and related financial impact have not yet been determined.
	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 Pension Plan, but provided benefits in excess of certain limits placed on our Qualified Pension Plan by the Internal Revenue Code.  We froze our Qualified Pension Plan effective as of December 31, 2009 and the SERP provided benefits to participants as if the Qualified Pension Plan had not been frozen.  Because the Qualified Pension Plan was frozen and because new employees were not eligible to participate in the Qualified Pension Plan, our Board of Directors adopted amendments to the SERP on October 8, 2013 that were effective as of December 31, 2013 to simplify the SERP calculation.  The SERP is funded through a Rabbi Trust with BMO Harris Bank N.A.  Under the amended SERP, participants received an accrued lump-sum benefit as of December 31, 2013 which was credited to each participant’s account.  Going forward, each eligible participant will receive a supplemental retirement benefit equal to the foregoing lump-sum benefit, plus an annual benefit accrual equal to 8 percent 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 effective on or after January 1, 2014 being subject to a five year vesting schedule.  The SERP, which is considered a defined benefit plan under applicable rules and regulations, will continue to be funded through the 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 amendments to the SERP did not have a material effect on our financial statements.  The Rabbi Trust assets had a value of $2.3 million at December 28, 2014 and $2.2 million at June 29, 2014, respectively, and are included in Other Long-Term Assets in the accompanying Condensed Consolidated Balance Sheets.
	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 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
		December 28,			December 29,			December 28,			December 29,
		2014			2013			2014			2013
	Service cost	$	16		$	55		$	3		$	3
	Interest cost		1,043			1,101			29			40
	Expected return on plan assets		(1,544	)		(1,611	)		-			-
	Amortization of prior service cost (credit)		3			3			(191	)		(191	)
	Amortization of unrecognized net loss		694			667			174			211
	Net periodic benefit cost	$	212		$	215		$	15		$	63
		Pension Benefits						Postretirement Benefits
		Six Months Ended						Six Months Ended
		December 28,			December 29,			December 28,			December 29,
		2014			2013			2014			2013
	Service cost	$	32		$	109		$	7		$	7
	Interest cost		2,086			2,203			57			79
	Expected return on plan assets		(3,087	)		(3,221	)		-			-
	Amortization of prior service cost (credit)		6			6			(382	)		(382	)
	Amortization of unrecognized net loss		1,387			1,333			347			423
	Net periodic benefit cost	$	424		$	430		$	29		$	127
	No contributions were made to the Qualified Pension Plan during the six month period ended December 28, 2014. Contributions of $1.5 million were made to the Qualified Pension Plan during the six month period ended December 29, 2013. Voluntary contributions of $3.0 million are anticipated to be made during the remainder of fiscal 2015.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Loss	6 Months Ended
	Dec. 28, 2014
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss
	The following table summarizes the changes in accumulated other comprehensive loss (“AOCL”) for each period presented (in thousands):
			Six Months Ended December 28, 2014
		Foreign		Retirement			Total
		Currency		and
		Translation		Postretirement
		Adjustments		Benefit Plans
	Balance, June 29, 2014	$	3,411	$	16,787		$	20,198
	Other comprehensive loss before		3,442		-			3,442
	reclassifications
	Income tax		-		-			-
	Net other comprehensive loss before reclassifications		3,442		-			3,442
	Reclassifications:
	Prior service credits (A)		-		376			376
	Actuarial gains (A)		-		(1,734	)		(1,734	)
	Total reclassifications before tax		-		(1,358	)		(1,358	)
	Income tax		-		502			502
	Net reclassifications		-		(856	)		(856	)
	Other comprehensive loss (income)		3,442		(856	)		2,586
	Other comprehensive loss attributable to non-controlling interest		222		-			222
	Balance, December 28, 2014	$	6,631	$	15,931		$	22,562
			Six Months Ended December 29, 2013
		Foreign		Retirement			Total
		Currency		and
		Translation		Postretirement
		Adjustments		Benefit Plans
	Balance, June 30, 2013	$	3,268	$	18,944		$	22,212
	Other comprehensive loss before		139		-			139
	reclassifications
	Income tax		-		-			-
	Net other comprehensive loss before reclassifications		139		-			139
	Reclassifications:
	Prior service credits (A)		-		376			376
	Unrecognized net loss (A)		-		(1,756	)		(1,756	)
	Total reclassifications before tax		-		(1,380	)		(1,380	)
	Income tax		-		511			511
	Net reclassifications		-		(869	)		(869	)
	Other comprehensive loss (income)		139		(869	)		(730	)
	Other comprehensive loss attributable to non-controlling interest		11		-			11
	Balance, December 29, 2013	$	3,396	$	18,075		$	21,471
	(A)	Amounts reclassified are included in the computation of net periodic benefit cost, which is included in Cost of Goods Sold and Engineering, Selling and Administrative expenses in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income. See Pension and Postretirement Benefits note to these condensed consolidated financial statements above.

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Dec. 28, 2014
Fair Value Disclosures [Abstract]
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 December 28, 2014 (in thousands of dollars):
		Fair Value Inputs
		Level 1 Assets:		Level 2 Assets:		Level 3 Assets:
		Quoted Prices		Observable		Unobservable
		In Active Markets		Inputs Other		Inputs
				Than Market Prices
	Assets:
	Rabbi Trust Assets:
	Stock Index Funds:
	Small Cap	$	353	$	-	$	-
	Mid Cap		241		-		-
	Large Cap		482		-		-
	International		410		-		-
	Fixed Income Funds		753		-		-
	Cash and Cash Equivalents		-		28		-
	Total Assets at Fair Value	$	2,239	$	28	$	-

Equity_Earnings_of_Joint_Ventu1

Equity Earnings of Joint Ventures (Tables)	6 Months Ended
	Dec. 28, 2014
VAST LLC
Summarized Statements of Operations	The following are summarized statements of operations for VAST LLC (thousands of dollars):
			Three Months Ended							Six Months Ended
			December 28,				December 29,				December 28,				December 29,
			2014				2013				2014				2013
	Net Sales		$	35,663			$	27,135			$	66,661			$	51,664
	Cost of Goods Sold			30,469				22,943				56,552				43,358
	Gross Profit			5,194				4,192				10,109				8,306
	Engineering, Selling and Administrative Expenses			4,590				2,791				8,788				6,281
	Income From Operations			604				1,401				1,321				2,025
	Other Income (Expense), net			183				(19	)			656				(21	)
	Income before Provision for Income taxes			787				1,382				1,977				2,004
	Provision for (Benefit from) Income Taxes			376				219				435				(235	)
	Net Income		$	411			$	1,163			$	1,542			$	2,239
	STRATTEC’s Share of VAST LLC Net Income		$	137			$	387				514			$	746
	Intercompany Profit Elimination			5				2				4				(4	)
	STRATTEC’s Equity Earnings of VAST LLC		$	142			$	389			$	518			$	742
NextLock LLC
Summarized Statements of Operations	The following are summarized statements of operations for NextLock LLC (thousands of dollars):
			Three Months Ended								Six Months Ended
			December 28,				December 29,				December 28,				December 29,
			2014				2013				2014				2013
	Engineering, Selling and Administrative Expenses		$	516			$	181			$	880			$	297
	Loss From Operations			(516	)			(181	)			(880	)			(297	)
	Net Loss		$	(516	)		$	(181	)		$	(880	)		$	(297	)
	STRATTEC’s Equity Loss of NextLock LLC		$	(263	)		$					(449	)
								(92	)		$				$	(151	)
VAST LLC and NextLock LLC
Summarize of Related Party Transaction	We have sales of component parts to VAST LLC and NextLock LLC, purchases of component parts from VAST LLC, expenses charged to VAST LLC for engineering and accounting services and expenses charged to us from VAST LLC for general headquarters expenses.  The following tables summarize these related party transactions with VAST LLC and NextLock LLC for the periods indicated below (thousands of dollars):
		Three Months Ended								Six Months Ended
		December 28,				December 29,				December 28, 2014				December 29, 2013
		2014				2013
	Sales to VAST LLC	$	657			$	55			$	771			$	95
	Sales to NextLock LLC	$	27			$	-			$	32			$	-
	Purchases from VAST LLC	$	41			$	43			$	80			$	158
	Expenses Charged to VAST LLC	$	245			$	159			$	404			$	399
	Expenses Charged from VAST LLC	$	457			$	303			$	940			$	585

Credit_Facilities_and_Guarante1

Credit Facilities and Guarantees (Tables)	6 Months Ended
	Dec. 28, 2014
Debt Disclosure [Abstract]
Schedule of Outstanding Borrowings Under the Credit Facilities	Outstanding borrowings under the credit facilities were as follows (thousands of dollars):
		December 28,		June 29,
		2014		2014
	STRATTEC Credit Facility	$	-	$	-
	ADAC-STRATTEC Credit Facility	$	3,500	$	2,500
Schedule of Average Outstanding Borrowings and the Weighted Average Interest Rate	Average outstanding borrowings and the weighted average interest rate under each credit facility were as follows for each period presented (thousands of dollars):
		Six Months Ended
		Average Outstanding Borrowings				Weighted Average Interest Rate
		28-Dec-14		29-Dec-13		28-Dec-14			29-Dec-13
	STRATTEC Credit Facility	$	-	$	-		-	%		-	%
	ADAC-STRATTEC Credit Facility	$	3,819	$	2,800		1.2	%		1.9	%

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	6 Months Ended
	Dec. 28, 2014
Equity [Abstract]
Summary of Activity Impacting Shareholders' Equity	A summary of activity impacting shareholders’ equity for the six month period ended December 28, 2014 was as follows (in thousands):
		Total			Equity			Equity Attributable to Non-Controlling
		Shareholders’			Attributable to			Interest
		Equity			STRATTEC
	Balance, June 29, 2014	$	134,903		$	125,506		$	9,397
	Net Income		17,241			15,078			2,163
	Dividend Declared		(854	)		(854	)		-
	Dividend Declared – Non-controlling Interests of Subsidiaries		(882	)		-			(882	)
	Translation adjustments		(3,442	)		(3,220	)		(222	)
	Stock Based Compensation		700			700			-
	Tax Benefit – Dividend Paid on Restricted Shares		3			3			-
	Pension and Postretirement Adjustment, Net of tax		856			856			-
	Employee Stock Purchases and Stock Option Exercises		714			714			-
	Balance, December 28, 2014	$	149,239		$	138,783		$	10,456

Other_Income_Expense_Net_Table

Other Income (Expense), Net (Tables)	6 Months Ended
	Dec. 28, 2014
Other Income And Expenses [Abstract]
Summary of Other Income (Expense), Net	The impact of these items for each of the periods presented was as follows (in thousands):
		Three Months Ended					Six Months Ended
		December 28,		December 29,			December 28,		December 29,
		2014		2013			2014		2013
	Foreign Currency Transaction Gain (Loss)	$	1,635	$	(174	)	$	2,421	$	38
	Rabbi Trust Gain		45		57			18		105
	Other		143		63			172		82
		$	1,823	$	-54		$	2,611	$	225

Earnings_Per_Share_EPS_Tables

Earnings Per Share (''EPS'') (Tables)	6 Months Ended
	Dec. 28, 2014
Earnings Per Share [Abstract]
Reconciliation of the Components of the Basic and Diluted Per Share	A reconciliation of the components of the basic and diluted per-share computations follows (in thousands, except per share amounts):
		Three Months Ended				Six Months Ended
		December 28,		December 29,		December 28,		December 29,
		2014		2013		2014		2013
	Net Income Attributable to STRATTEC SECURITY CORPORATION	$	5,778	$	3,873	$	15,078	$	7,084
	Less: Income Attributable to Participating Securities		71		69		191		129
	Net Income Attributable to Common Shareholders	$	5,707	$	3,804	$	14,887	$	6,955
			3,518		3,413		3,507		3,397
	Basic Weighted Average Shares of Common Stock Outstanding
	Incremental Shares – Stock based Compensation		94		74		96		76
	Diluted Weighted Average Shares of Common Stock Outstanding		3,612		3,487		3,603		3,473
		$	1.62	$	1.11	$	4.25	$	2.05
	Basic Earnings Per Share
	Diluted Earnings Per Share	$	1.58	$	1.09	$	4.13	$	2

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	6 Months Ended
	Dec. 28, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Stock Option Activity Under Our Stock Incentive Plan	A summary of stock option activity under our stock incentive plan for the six months ended December 28, 2014 was as follows:
		Shares			Weighted			Weighted		Aggregate
					Average			Average		Intrinsic
					Exercise Price			Remaining		Value
								Contractual		(in thousands)
								Term (years)
	Outstanding, June 29, 2014		185,242		$	24.73
	Granted		10,000		$	79.73
	Exercised		(16,570	)	$	21.84
	Forfeited		(8,589	)	$	37.43
	Outstanding, December 28, 2014		170,083		$	27.61			6.2	$	9,695
	Exercisable, December 28, 2014		97,279		$	19.75			4.5	$	6,310
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 six month periods presented below was as follows (in thousands):
		Three Months Ended						Six Months Ended
		December 28,			December 29,			December 28,		December 29,
		2014			2013			2014		2013
	Intrinsic Value of Options Exercised	$	290		$	623		$	990	$	678
	Fair Value of Stock Options Vesting	$	-		$	142		$	382	$	415
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:
		Six Months Ended
		December 28,			December 29,
		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	$	34.93		$	17.58
	Assumptions:
	Risk Free Interest Rate		1.9	%		2.06	%
	Expected Volatility		57.83	%		58.75	%
	Expected Dividend Yield		0.62	%		1.11	%
	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 six months ended December 28, 2014 was as follows:
		Shares			Weighted
					Average
					Grant Date
					Fair Value
	Nonvested Balance, June 29, 2014		63,600		$	28.64
	Granted		25,000		$	70.9
	Vested		(17,800	)	$	23.01
	Forfeited		(3,300	)	$	44.92
	Nonvested Balance, December 28, 2014		67,500		$	44.98

Pension_and_Postretirement_Ben1

Pension and Postretirement Benefits (Tables)	6 Months Ended
	Dec. 28, 2014
Compensation And Retirement Disclosure [Abstract]
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
		December 28,			December 29,			December 28,			December 29,
		2014			2013			2014			2013
	Service cost	$	16		$	55		$	3		$	3
	Interest cost		1,043			1,101			29			40
	Expected return on plan assets		(1,544	)		(1,611	)		-			-
	Amortization of prior service cost (credit)		3			3			(191	)		(191	)
	Amortization of unrecognized net loss		694			667			174			211
	Net periodic benefit cost	$	212		$	215		$	15		$	63
		Pension Benefits						Postretirement Benefits
		Six Months Ended						Six Months Ended
		December 28,			December 29,			December 28,			December 29,
		2014			2013			2014			2013
	Service cost	$	32		$	109		$	7		$	7
	Interest cost		2,086			2,203			57			79
	Expected return on plan assets		(3,087	)		(3,221	)		-			-
	Amortization of prior service cost (credit)		6			6			(382	)		(382	)
	Amortization of unrecognized net loss		1,387			1,333			347			423
	Net periodic benefit cost	$	424		$	430		$	29		$	127

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Dec. 28, 2014
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Summary of Changes in Accumulated Other Comprehensive Loss	The following table summarizes the changes in accumulated other comprehensive loss (“AOCL”) for each period presented (in thousands):
			Six Months Ended December 28, 2014
		Foreign		Retirement			Total
		Currency		and
		Translation		Postretirement
		Adjustments		Benefit Plans
	Balance, June 29, 2014	$	3,411	$	16,787		$	20,198
	Other comprehensive loss before		3,442		-			3,442
	reclassifications
	Income tax		-		-			-
	Net other comprehensive loss before reclassifications		3,442		-			3,442
	Reclassifications:
	Prior service credits (A)		-		376			376
	Actuarial gains (A)		-		(1,734	)		(1,734	)
	Total reclassifications before tax		-		(1,358	)		(1,358	)
	Income tax		-		502			502
	Net reclassifications		-		(856	)		(856	)
	Other comprehensive loss (income)		3,442		(856	)		2,586
	Other comprehensive loss attributable to non-controlling interest		222		-			222
	Balance, December 28, 2014	$	6,631	$	15,931		$	22,562
			Six Months Ended December 29, 2013
		Foreign		Retirement			Total
		Currency		and
		Translation		Postretirement
		Adjustments		Benefit Plans
	Balance, June 30, 2013	$	3,268	$	18,944		$	22,212
	Other comprehensive loss before		139		-			139
	reclassifications
	Income tax		-		-			-
	Net other comprehensive loss before reclassifications		139		-			139
	Reclassifications:
	Prior service credits (A)		-		376			376
	Unrecognized net loss (A)		-		(1,756	)		(1,756	)
	Total reclassifications before tax		-		(1,380	)		(1,380	)
	Income tax		-		511			511
	Net reclassifications		-		(869	)		(869	)
	Other comprehensive loss (income)		139		(869	)		(730	)
	Other comprehensive loss attributable to non-controlling interest		11		-			11
	Balance, December 29, 2013	$	3,396	$	18,075		$	21,471
	(A)	Amounts reclassified are included in the computation of net periodic benefit cost, which is included in Cost of Goods Sold and Engineering, Selling and Administrative expenses in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income. See Pension and Postretirement Benefits note to these condensed consolidated financial statements above.

Basis_of_Financial_Statements_

Basis of Financial Statements (Details Textual)	6 Months Ended
	Dec. 28, 2014	Jun. 30, 2013
	Segment
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of reporting segments related to STRATTEC Security Corporation	1
NextLock LLC
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage ownership interest in joint venture		51.00%
VAST LLC
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of wholly owned and majority owned consolidated subsidiaries	3
Number of equity method joint ventures	1

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments (Details) (USD $)	Dec. 28, 2014
In Thousands, unless otherwise specified
Level 1
Assets:
Total Assets at Fair Value	$2,239
Level 1 | Fixed Income Funds
Assets:
Total Assets at Fair Value	753
Level 1 | Stock Index Funds | Small Cap
Assets:
Total Assets at Fair Value	353
Level 1 | Stock Index Funds | Mid Cap
Assets:
Total Assets at Fair Value	241
Level 1 | Stock Index Funds | Large Cap
Assets:
Total Assets at Fair Value	482
Level 1 | Stock Index Funds | International
Assets:
Total Assets at Fair Value	410
Level 2
Assets:
Total Assets at Fair Value	28
Level 2 | Cash and Cash Equivalents
Assets:
Total Assets at Fair Value	$28

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments (Details Textual) (USD $)	Dec. 28, 2014
Fair Value of Financial Instruments (Textual) [Abstract]
Fair value, assets, level 1 to level 2 transfers, amount	$0

Equity_Earnings_of_Joint_Ventu2

Equity Earnings of Joint Ventures (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2014	Dec. 29, 2013	Dec. 28, 2014	Dec. 29, 2013
Summarized statements of operations
Equity earnings (loss) of joint ventures	($121)	$297	$69	$591
VAST LLC
Summarized statements of operations
Net Sales	35,663	27,135	66,661	51,664
Cost of Goods Sold	30,469	22,943	56,552	43,358
Gross Profit	5,194	4,192	10,109	8,306
Engineering, Selling and Administrative Expenses	4,590	2,791	8,788	6,281
Income (Loss) From Operations	604	1,401	1,321	2,025
Other Income (Expense), net	183	-19	656	-21
Income before Provision for Income taxes	787	1,382	1,977	2,004
Provision for (Benefit from) Income Taxes	376	219	435	-235
Net Income (Loss)	411	1,163	1,542	2,239
STRATTEC’s Share of VAST LLC Net Income	137	387	514	746
Intercompany Profit Elimination	5	2	4	-4
Equity earnings (loss) of joint ventures	142	389	518	742
NextLock LLC
Summarized statements of operations
Engineering, Selling and Administrative Expenses	516	181	880	297
Income (Loss) From Operations	-516	-181	-880	-297
Net Income (Loss)	-516	-181	-880	-297
Equity earnings (loss) of joint ventures	($263)	($92)	($449)	($151)

Equity_Earnings_of_Joint_Ventu3

Equity Earnings of Joint Ventures (Details Textual) (NextLock LLC)	Jun. 30, 2013
NextLock LLC
Schedule of Equity Method Investments [Line Items]
STRATTEC's percentage ownership joint venture	51.00%

Equity_Earnings_of_Joint_Ventu4

Equity Earnings of Joint Ventures (Details 1) (Equity Method Investee, USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2014	Dec. 29, 2013	Dec. 28, 2014	Dec. 29, 2013
VAST LLC
Schedule of Equity Method Investments [Line Items]
Sales	$657	$55	$771	$95
Purchases from VAST LLC	41	43	80	158
Expenses Charged to VAST LLC	245	159	404	399
Expenses Charged from VAST LLC	457	303	940	585
NextLock LLC
Schedule of Equity Method Investments [Line Items]
Sales	$27		$32

Credit_Facilities_and_Guarante2

Credit Facilities and Guarantees (Details Textual) (USD $)	0 Months Ended	6 Months Ended
In Millions, unless otherwise specified	Jan. 22, 2014	Dec. 28, 2014
STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Secured revolving credit facility		$25
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
Interest rate - percentage points added to LIBOR - on borrowings under credit facility		1.00%
ADAC-STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Secured revolving credit facility		$5
Expiry date of credit facility		1-Aug-16
Interest rate on borrowings under the credit facility	LIBOR plus 1.75 percent or the bank’s prime rate.	LIBOR plus 1.0 percent or the bank’s prime rate
Interest rate - percentage points added to LIBOR - on borrowings under credit facility	1.75%	1.00%

Credit_Facilities_and_Guarante3

Credit Facilities and Guarantees (Details) (USD $)	Dec. 28, 2014	Jun. 29, 2014
In Thousands, unless otherwise specified
STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Outstanding borrowing	$0	$0
ADAC-STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Outstanding borrowing	$3,500	$2,500

Credit_Facilities_and_Guarante4

Credit Facilities and Guarantees (Details 1) (ADAC-STRATTEC Credit Facility, USD $)	6 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2014	Dec. 29, 2013
ADAC-STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Average borrowings under the credit facility during the period	$3,819	$2,800
Weighted average interest rate	1.20%	1.90%

Environmental_Reserve_Details_

Environmental Reserve (Details Textual) (USD $)	6 Months Ended	12 Months Ended
	Dec. 28, 2014	Jun. 27, 2010	Jun. 29, 2014
Environmental Remediation Obligations [Abstract]
Environmental reserve originally established in 1995	$3,000,000
Reserve reduced		-1,100,000
Environmental reserve	1,389,000	1,500,000	1,397,000
Costs incurred to date to install and monitor wells	$486,000

Shareholders_Equity_Details

Shareholders' Equity (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2014	Dec. 29, 2013	Dec. 28, 2014	Dec. 29, 2013
Summary of activity impacting shareholders' equity
Beginning Balance			$134,903
Net income	6,901	4,681	17,241	8,535
Dividend Declared			-854
Dividend Declared – Non-controlling Interests of Subsidiaries			-882
Translation adjustments	-2,590	197	-3,442	-139
Stock Based Compensation			700	630
Tax Benefit – Dividend Paid on Restricted Shares			3
Pension and postretirement plans, net of tax	428	434	856	869
Employee Stock Purchases and Stock Option Exercises			714
Ending Balance	149,239		149,239
Equity Attributable to STRATTEC
Summary of activity impacting shareholders' equity
Beginning Balance			125,506
Net income			15,078
Dividend Declared			-854
Translation adjustments			-3,220
Stock Based Compensation			700
Tax Benefit – Dividend Paid on Restricted Shares			3
Pension and postretirement plans, net of tax			856
Employee Stock Purchases and Stock Option Exercises			714
Ending Balance	138,783		138,783
Equity Attributable to Non-Controlling Interest
Summary of activity impacting shareholders' equity
Beginning Balance			9,397
Net income			2,163
Dividend Declared – Non-controlling Interests of Subsidiaries			-882
Translation adjustments			-222
Ending Balance	$10,456		$10,456

Other_Income_Expense_Net_Detai

Other Income (Expense), Net (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2014	Dec. 29, 2013	Dec. 28, 2014	Dec. 29, 2013
Other Income And Expenses [Abstract]
Foreign Currency Transaction Gain (Loss)	$1,635	($174)	$2,421	$38
Rabbi Trust Gain	45	57	18	105
Other	143	63	172	82
Total	$1,823	($54)	$2,611	$225

Earnings_Per_Share_EPS_Details

Earnings Per Share (''EPS'') (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 28, 2014	Dec. 29, 2013	Dec. 28, 2014	Dec. 29, 2013
Reconciliation of the components of the basic and diluted per share
Net Income Attributable to STRATTEC SECURITY CORPORATION	$5,778	$3,873	$15,078	$7,084
Less: Income Attributable to Participating Securities	71	69	191	129
Net Income Attributable to Common Shareholders	$5,707	$3,804	$14,887	$6,955
Basic Weighted Average Shares of Common Stock Outstanding	3,518	3,413	3,507	3,397
Incremental Shares – Stock based Compensation	94	74	96	76
Diluted Weighted Average Shares of Common Stock Outstanding	3,612	3,487	3,603	3,473
Basic Earnings Per Share	$1.62	$1.11	$4.25	$2.05
Diluted Earnings Per Share	$1.58	$1.09	$4.13	$2

Earnings_Per_Share_EPS_Details1

Earnings Per Share (''EPS'') (Details 1) (Stock Options)	6 Months Ended
	Dec. 28, 2014	Dec. 29, 2013
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive options excluded from earnings per share computation	9,010	67,340

StockBased_Compensation_Detail

Stock-Based Compensation (Details Textual) (USD $)	6 Months Ended
	Dec. 28, 2014
Stock Options
Stock Based Compensations (Textual) [Abstract]
Unrecognized compensation cost related to stock options	$658,000
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 date of grant	5 years
Vesting period after the date of grant	1 year
Stock Options | Maximum
Stock Based Compensations (Textual) [Abstract]
Options expires after date of grant	10 years
Vesting period after the date of grant	4 years
Restricted Stock
Stock Based Compensations (Textual) [Abstract]
Vesting period after the date of grant	3 years
Weighted average period over which unrecognized compensation is expected to be recognized	1 year 2 months 12 days
Unrecognized compensation cost related to unvested restricted stock grants	$1,700,000
Omnibus Stock Incentive Plan
Stock Based Compensation Additional (Textual) [Abstract]
Designated shares of common stock available for the grant of awards	1,850,000
Shares of common stock available for grant	253,139

StockBased_Compensation_Detail1

Stock-Based Compensation (Details) (USD $)	6 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 28, 2014
Summary of stock option activity under our stock incentive plan
Shares, Beginning Balance	185,242
Shares, Granted	10,000
Shares, Exercised	-16,570
Shares, Forfeited	-8,589
Shares, Ending Balance	170,083
Shares, Exercisable	97,279
Weighted Average Exercise Price, Beginning Balance	$24.73
Weighted Average Exercise Price, Granted	$79.73
Weighted Average Exercise Price, Exercised	$21.84
Weighted Average Exercise Price, Forfeited	$37.43
Weighted Average Exercise Price, Ending Balance	$27.61
Weighted Average Exercise Price, Exercisable	$19.75
Weighted Average Remaining Contractual Term, Outstanding, December 28, 2014	6 years 2 months 12 days
Weighted Average Remaining Contractual Term, Exercisable, December 28, 2014	4 years 6 months
Aggregate Intrinsic Value, Outstanding, December 28, 2014	$9,695
Aggregate Intrinsic Value, Exercisable, December 28, 2014	$6,310

StockBased_Compensation_Detail2

Stock-Based Compensation (Details 1) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2014	Dec. 29, 2013	Dec. 28, 2014	Dec. 29, 2013
Intrinsic value of stock options exercised and the fair value of stock options vested
Intrinsic Value of Options Exercised	$290	$623	$990	$678
Fair Value of Stock Options Vesting		$142	$382	$415

StockBased_Compensation_Detail3

Stock-Based Compensation (Details 2) (USD $)	6 Months Ended
	Dec. 28, 2014	Dec. 29, 2013
Assumptions:
Risk Free Interest Rate	1.90%	2.06%
Expected Volatility	57.83%	58.75%
Expected Dividend Yield	0.62%	1.11%
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	0	0
Options Issued Above Grant Date Market Value
Weighted Average Grant Date Fair Value:
Weighted average grant date fair value	34.93	17.58

StockBased_Compensation_Detail4

Stock-Based Compensation (Details 3) (Restricted Stock, USD $)	6 Months Ended
	Dec. 28, 2014
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Nonvested, Shares Beginning Balance	63,600
Granted, Shares	25,000
Vested, Shares	-17,800
Forfeited, Shares	-3,300
Nonvested, Shares Ending Balance	67,500
Nonvested, Weighted Average Grant Date Fair Value Beginning Balance	$28.64
Granted, Weighted Average Grant Date Fair Value	$70.90
Vested, Weighted Average Grant Date Fair Value	$23.01
Forfeited, Weighted Average Grant Date Fair Value	$44.92
Nonvested, Weighted Average Grant Date Fair Value Ending Balance	$44.98

Pension_and_Postretirement_Ben2

Pension and Postretirement Benefits (Details Textual) (USD $)	6 Months Ended
	Dec. 28, 2014	Dec. 29, 2013	Jun. 29, 2014
Disclosure Pension And Other Postretirement Benefits Details Textual [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%
Termination of Qualified Pension Plan, description	On April 2, 2014, our Board of Directors approved a resolution to terminate the Qualified Pension Plan. The termination of the Qualified Pension Plan is subject to the Internal Revenue Service’s (“IRS”) determination that the Qualified Pension Plan is qualified on termination. We believe it will take 18 to 24 months to finalize the complete termination of the Qualified Pension Plan after obtaining IRS approval. Additionally, we have amended the Qualified Pension Plan to provide that participants are 100 percent 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, to add a lump sum distribution for employees and terminated vested participants who are not in payment status when Qualified Pension Plan assets are distributed due to the termination and to make certain other conforming amendments to the Qualified Pension Plan to comply with applicable laws that may be required by the IRS or may be deemed necessary or advisable to improve the administration of the Qualified Pension Plan or facilitate its termination and liquidation.
Rabbi Trust Assets - SERP	$2,300,000		$2,200,000
Postretirement plan annual benefit limit for future eligible retires	4,000
Other postretirement benefits maximum benefit period	5 years
Contributions to the qualified pension plan	0	1,500,000
Expected additional employer contributions during remainder of fiscal 2015	$3,000,000
Supplemental Employee Retirement Plan, Defined Benefit
Disclosure Pension And Other Postretirement Benefits Details Textual [Line Items]
Percentage of participant's base salary received as Supplemental Retirement Benefits	8.00%

Pension_and_Postretirement_Ben3

Pension and Postretirement Benefits (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2014	Dec. 29, 2013	Dec. 28, 2014	Dec. 29, 2013
Pension Benefits
COMPONENTS OF NET PERIODIC BENEFIT COST:
Service cost	$16	$55	$32	$109
Interest cost	1,043	1,101	2,086	2,203
Expected return on plan assets	-1,544	-1,611	-3,087	-3,221
Amortization of prior service cost (credit)	3	3	6	6
Amortization of unrecognized net loss	694	667	1,387	1,333
Net periodic benefit cost	212	215	424	430
Postretirement Benefits
COMPONENTS OF NET PERIODIC BENEFIT COST:
Service cost	3	3	7	7
Interest cost	29	40	57	79
Amortization of prior service cost (credit)	-191	-191	-382	-382
Amortization of unrecognized net loss	174	211	347	423
Net periodic benefit cost	$15	$63	$29	$127

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Loss (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2014	Dec. 29, 2013	Dec. 28, 2014	Dec. 29, 2013
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance			$20,198	$22,212
Other comprehensive loss before reclassifications			3,442	139
Retirement and Postretirement Plan Reclassification Adjustment, Income Tax Amount			0	0
Net other comprehensive loss before reclassifications			3,442	139
Reclassifications:
Prior service credits			376	376
Actuarial gains/Unrecognized net loss			-1,734	-1,756
Total reclassifications before tax			-1,358	-1,380
Retirement and Postretirement Plans Reclassifications, Income Tax			502	511
Net reclassifications			-856	-869
Other comprehensive loss (income)	2,162	-631	2,586	-730
Other comprehensive loss attributable to non-controlling interest			222	11
Ending balance	22,562	21,471	22,562	21,471
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance			3,411	3,268
Other comprehensive loss before reclassifications			3,442	139
Retirement and Postretirement Plan Reclassification Adjustment, Income Tax Amount			0	0
Net other comprehensive loss before reclassifications			3,442	139
Reclassifications:
Other comprehensive loss (income)			3,442	139
Other comprehensive loss attributable to non-controlling interest			222	11
Ending balance	6,631	3,396	6,631	3,396
Retirement and Postretirement Benefit Plans
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance			16,787	18,944
Retirement and Postretirement Plan Reclassification Adjustment, Income Tax Amount			0	0
Reclassifications:
Prior service credits			376	376
Actuarial gains/Unrecognized net loss			-1,734	-1,756
Total reclassifications before tax			-1,358	-1,380
Retirement and Postretirement Plans Reclassifications, Income Tax			502	511
Net reclassifications			-856	-869
Other comprehensive loss (income)			-856	-869
Ending balance	$15,931	$18,075	$15,931	$18,075