Strattec Security (STRT) 10-Q 4 Feb 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 27, 2020	Dec. 29, 2020
Cover [Abstract]
Entity Registrant Name	STRATTEC SECURITY CORP
Entity Central Index Key	0000933034
Document Type	10-Q
Document Period End Date	Dec. 27, 2020
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--06-27
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	0-25150
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-1804239
Entity Address, Address Line One	3333 West Good Hope Road
Entity Address, City or Town	Milwaukee
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53209
City Area Code	414
Local Phone Number	247-3333
Document Quarterly Report	true
Document Transition Report	false
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock Shares Outstanding		3,869,042
Security Exchange Name	NASDAQ
Trading Symbol	STRT
Title of 12(b) Security	Common stock, $.01 par value

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Income Statement [Abstract]
Net sales	$ 127,360	$ 106,283	$ 253,594	$ 226,245
Cost of goods sold	105,119	95,950	208,842	200,026
Gross profit	22,241	10,333	44,752	26,219
Engineering, selling and administrative expenses	10,302	12,094	21,616	25,048
Income (loss) from operations	11,939	(1,761)	23,136	1,171
Equity earnings of joint ventures	1,075	492	1,900	976
Interest expense	(84)	(248)	(196)	(588)
Other (expense) income, net	(1,366)	23	(1,626)	(74)
Income (loss) before provision (benefit) for income taxes and non-controlling interest	11,564	(1,494)	23,214	1,485
Provision (benefit) for income taxes	1,991	(399)	3,568	(100)
Net income (loss)	9,573	(1,095)	19,646	1,585
Net income attributable to non-controlling Interest	2,460	246	4,525	1,682
Net income (loss) attributable to STRATTEC SECURITY CORPORATION	7,113	(1,341)	15,121	(97)
Comprehensive income:
Net income (loss)	9,573	(1,095)	19,646	1,585
Pension and postretirement plans, net of tax	69	73	139	146
Currency translation adjustments	4,417	1,634	6,116	186
Other comprehensive income, net of tax	4,486	1,707	6,255	332
Comprehensive income	14,059	612	25,901	1,917
Comprehensive income attributable to non-controlling interest	3,773	748	6,159	1,932
Comprehensive income (loss) attributable to STRATTEC SECURITY CORPORATION	$ 10,286	$ (136)	$ 19,742	$ (15)
Earnings (loss) per share attributable to STRATTEC SECURITY CORPORATION:
Basic	$ 1.88	$ (0.36)	$ 4.01	$ (0.03)
Diluted	$ 1.85	$ (0.36)	$ 3.96	$ (0.03)
Average shares outstanding:
Basic	3,786	3,741	3,775	3,725
Diluted	3,842	3,741	3,815	3,725
Cash dividends declared per share		$ 0.14		$ 0.28

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Dec. 27, 2020	Jun. 28, 2020
Current Assets:
Cash and cash equivalents	$ 10,432	$ 11,774
Receivables, net	85,796	41,955
Inventories:
Finished products	18,535	13,142
Work in process	13,727	11,815
Purchased materials	29,493	34,333
Excess and obsolete reserve	(5,422)	(4,890)
Inventories, net	56,333	54,400
Other current assets	13,348	17,239
Total current assets	165,909	125,368
Investment in joint ventures	25,759	22,068
Deferred Income Taxes	6,650	6,490
Other long-term assets	6,832	6,471
Property, plant and equipment	266,372	266,216
Less: accumulated depreciation	(164,553)	(161,068)
Net property, plant and equipment	101,819	105,148
Total assets	306,969	265,545
Current Liabilities:
Accounts payable	39,148	18,549
Accrued Liabilities:
Payroll and benefits	19,169	13,498
Environmental	1,250	1,259
Warranty	8,315	8,500
Other	8,773	6,334
Total current liabilities	76,655	48,140
Borrowings under credit facilities	22,000	35,000
Accrued pension obligations	1,300	1,255
Accrued postretirement obligations	680	701
Other long-term liabilities	4,861	5,008
Shareholders’ Equity:
Common stock, authorized 12,000,000 shares, $.01 par value, 7,393,481 issued shares at December 27, 2020 and 7,358,812 issued shares at June 28, 2020	74	74
Capital in excess of par value	98,571	97,977
Retained earnings	227,061	211,940
Accumulated other comprehensive loss	(17,492)	(22,113)
Less: treasury stock, at cost (3,607,464 shares at December 27, 2020 and 3,609,193 shares at June 28, 2020)	(135,629)	(135,656)
Total STRATTEC SECURITY CORPORATION shareholders’ equity	172,585	152,222
Non-controlling interest	28,888	23,219
Total shareholders’ equity	201,473	175,441
Total liabilities and shareholders' equity	$ 306,969	$ 265,545

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Dec. 27, 2020	Jun. 28, 2020
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	7,393,481	7,358,812
Treasury stock, shares	3,607,464	3,609,193

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019	Jun. 28, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 9,573	$ (1,095)	$ 19,646	$ 1,585
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation			9,797	9,580
Foreign currency transaction loss	1,913	363	2,312	448
Loss on disposal of property, plant and equipment			1,426	283
Unrealized gain on peso forward contracts	(145)		(480)
Stock based compensation expense			582	624
Equity earnings of joint ventures	(1,075)	(492)	(1,900)	(976)
Non-cash compensation expense		2,300		4,473	$ 4,800	$ 4,200
Deferred income taxes				(1,032)
Change in operating assets and liabilities:
Receivables			(43,640)	18,387
Inventories			(1,933)	(5,249)
Other assets			3,737	1,397
Accounts payable and accrued liabilities			27,274	(9,057)
Other, net			235	145
Net cash provided by operating activities			17,056	20,608
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in VAST LLC			(100)
Purchase of property, plant and equipment			(4,593)	(7,384)
Proceeds received on sale of property, plant and equipment			3	15
Net cash used in investing activities			(4,690)	(7,369)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of borrowings under credit facility			(13,000)	(10,000)
Dividends paid to non-controlling interests of subsidiaries			(490)	(980)
Dividends paid				(1,047)
Exercise of stock options and employee stock purchases			40	519
Net cash used in financing activities			(13,450)	(11,508)
Foreign currency impact on cash			(258)	(255)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS			(1,342)	1,476
CASH AND CASH EQUIVALENTS
Beginning of period			11,774	7,809	7,809
End of period	$ 10,432	$ 9,285	10,432	9,285	$ 11,774	$ 7,809
Cash paid during the period for:
Income taxes			2,406	497
Interest			208	621
Non-cash investing activities:
Change in capital expenditures in accounts payable			$ (340)	$ (1,154)

Basis of Financial Statements

Basis of Financial Statements	6 Months Ended
	Dec. 27, 2020
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, passive entry passive start systems (PEPS), steering column and instrument panel ignition lock housings, latches, power sliding door systems, power tailgate 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 (“WITTE”) of Velbert, Germany, and ADAC Automotive (“ADAC”) of Grand Rapids, Michigan. Under this relationship, STRATTEC, WITTE and ADAC market the products of each company to global customers under the “VAST Automotive Group” brand name (as more fully described herein). STRATTEC products are shipped to customer locations in the United States, Canada, Mexico, Europe, South America, Korea, China and India, and we provide full service and aftermarket support for each VAST Automotive Group partner’s products. 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 and Leon, Mexico. Equity investments in Vehicle Access Systems Technology LLC (“VAST LLC”), for which we exercise significant influence but do not control and are not variable interest entities of STRATTEC, are accounted for using the equity method. VAST LLC consists primarily of three wholly owned subsidiaries in China, one wholly owned subsidiary in Brazil and one joint venture entity in India. The results of the VAST LLC foreign subsidiaries and joint venture are reported on a one-month lag basis. We have only one reporting segment. In the opinion of management, the accompanying condensed consolidated balance sheets as of December 27, 2020 and June 28, 2020, which have 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 the financial statements and notes thereto included in the STRATTEC SECURITY CORPORATION 2020 Form 10-K, which was filed with the Securities and Exchange Commission on September 3, 2020.

Risks and Uncertainties

Risks and Uncertainties	6 Months Ended
	Dec. 27, 2020
Risks And Uncertainties [Abstract]
Risks and Uncertainties	Risks and Uncertainties In December 2019, a novel strain of coronavirus (COVID-19) was reported in Wuhan, China. The coronavirus has since spread, and infections have been found in multiple countries around the world, including the United States. In March 2020, the World Health Organization recognized the COVID-19 outbreak as a pandemic based on the global spread of the disease, the severity of illnesses it causes and its effects on society. In response to the COVID-19 outbreak, the governments of many countries, states, cities and other geographic regions have taken preventative or protective actions, such as imposing restrictions on travel and business operations and advising or requiring individuals to limit or forego their time outside of their homes. Accordingly, the COVID-19 outbreak has severely restricted the level of economic activity in many countries, and continues to adversely impact global economic activity, including with respect to customer purchasing actions and supply chain continuity and disruption. STRATTEC’s operating performance is subject to global economic conditions and levels of consumer spending specifically within the automotive industry. During the period from late March 2020 through mid-June 2020, the majority of our OEM customer assembly plant operations were completely closed including most of the supply chain. Additionally, during most of this same period, STRATTEC’s Mexico facilities were closed as a result of the Mexican government’s shutdown of non-essential businesses. Re-opening of our OEM customer facilities and our Mexico facilities began in June 2020, and the automotive industry continued to ramp-up throughout our six-month fiscal period ended December 27, 2020 resulting in an increase in our net sales for this current fiscal six-month period compared to our prior year period. While we expect increased sales over our prior year during our third and fourth fiscal quarters due to our customers’ reduction in production schedules and their assembly plant closures during the period late March 2020 through mid-June 2020, such estimates are dependent on the severity of the ongoing impacts of COVID-19 and any worsening of the impact of the pandemic (including relating to potential restrictive operating measures imposed by governmental authorities) on society and specifically on the automotive industry. The extent of the impact of the COVID-19 outbreak on our future operating results will depend on certain developments, including the duration, intensity and continued spread of the outbreak, regulatory and private sector responses, which may be precautionary, and the impact to our customers, workforce and suppliers, all of which are uncertain and cannot be predicted. These changing conditions may also affect the estimates and assumptions made by management. Such estimates and assumptions affect, among other things, our long-lived asset valuations, equity investment valuation, assessment of our annual effective tax rate, valuation of deferred income taxes, assessment of excess and obsolete inventory reserves, and assessment of collectability of trade receivables.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Dec. 27, 2020
Accounting Changes And Error Corrections [Abstract]
New Accounting Standards	New Accounting Standards In June 2016, the FASB issued ASU 2016-13, Financial instruments – Credit Losses Financial instruments – Credit Losses, Derivatives and Hedging Activities, and Leases In December 2019, the FASB issued an update to accounting for income taxes. The update enhances and simplifies various aspects of income tax accounting including hybrid tax regimes, tax basis step-up in goodwill obtained in a transaction that is not a business combination, separate financial statements of entities not subject to tax, the intraperiod tax allocation exception to the incremental approach, investment ownership changes from a subsidiary to an equity method investment and vice versa, interim-period accounting for enacted changes in tax law, and the year-to-date loss limitation in interim-period tax accounting. This accounting update is effective for annual and interim periods beginning after December 15, 2020, with early adoption permitted. We do not expect that the adoption of this pronouncement will have a material impact on our consolidated financial statements.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Dec. 27, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
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 due to changes in the U.S. dollar/Mexican peso exchange rate. We had contracts with Bank of Montreal that provided for monthly Mexican peso currency forward contracts for a portion of our estimated peso denominated operating costs. Our objective in entering into currency forward contracts from time to time is to minimize our earnings volatility resulting from changes in exchange rates affecting the U.S. dollar cost of our Mexican operations. The Mexican peso forward contracts we previously entered into were not used for speculative purposes and were not designated as hedges. As a result, all currency forward contracts were recognized in our accompanying condensed consolidated financial statements at fair value and changes in the fair value were reported in current earnings as part of Other (Expense) Income, net. No currency forward contracts were outstanding as of December 27, 2020. The fair market value of all outstanding Mexican peso forward contracts in the accompanying Condensed Consolidated Balance Sheets as of the dates specified was as follows (thousands of dollars): December 27, 2020 June 28, 2020 Not Designated as Hedging Instruments: Other Current Liabilities: Mexican Peso Forward Contracts $ — $ 480 The pre-tax effects of the Mexican peso forward contracts are included in Other (Expense) Income, net on the accompanying Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) and consisted of the following for the periods indicated below (thousands of dollars): Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Not Designated as Hedging Instruments: Realized Loss $ (135 ) $ — $ (76 ) $ — Unrealized Gain $ 145 $ — $ 480 $ —

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Dec. 27, 2020
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 facilities approximated book value as of December 27, 2020 and June 28, 2020. Fair value is defined as the exchange price that would be received for an asset or paid for a liability (an exit price) 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 27, 2020 (in thousands): Fair Value Inputs Level 1 Assets: Quoted Prices In Level 2 Assets: Observable Inputs Other Than Market Prices Level 3 Assets: Unobservable Inputs Assets: Rabbi Trust Assets: Stock Index Funds: Small Cap $ 329 $ — $ — Mid Cap 326 — — Large Cap 649 — — International 978 — — Fixed Income Funds 965 — — Cash and Cash Equivalents — 6 — Total Assets at Fair Value $ 3,247 $ 6 $ — 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.

Investment in Joint Ventures an

Investment in Joint Ventures and Majority Owned Subsidiaries	6 Months Ended
	Dec. 27, 2020
Equity Method Investments And Joint Ventures [Abstract]
Investment in Joint Ventures and Majority Owned Subsidiaries	Investment in Joint Ventures and Majority Owned Subsidiaries We participate in certain Alliance Agreements with WITTE Automotive (“WITTE”) and ADAC Automotive (“ADAC”). WITTE, of Velbert, Germany, is a privately held automotive supplier. WITTE designs, manufactures and markets automotive components, including locks and keys, hood latches, rear compartment latches, seat back latches, door handles and specialty fasteners. WITTE’s primary market for these products has been Europe. ADAC, of Grand Rapids, Michigan, is a privately held automotive supplier and manufactures engineered products, including door handles and other automotive trim parts, utilizing plastic injection molding, automated painting and various assembly processes. The Alliance Agreements include a set of cross-licensing agreements for the manufacture, distribution and sale of WITTE products by STRATTEC and ADAC in North America, and the manufacture, distribution and sale of STRATTEC and ADAC products by WITTE in Europe. Additionally, a joint venture company, Vehicle Access Systems Technology LLC (“VAST LLC”), in which WITTE, STRATTEC and ADAC each hold a one-third VAST LLC has investments in Sistema de Acesso Veicular Ltda, VAST Fuzhou, VAST Great Shanghai, VAST Shanghai Co., VAST Jingzhou Co. Ltd., and Minda-VAST Access Systems. Sistema de Acesso Veicular Ltda is located in Brazil and services customers in South America. VAST Fuzhou, VAST Great Shanghai, VAST Shanghai Co., and VAST Jingzhou Co. Ltd. (collectively known as VAST China), provide a base of operations to service each VAST partner’s automotive customers in the Asian market. Minda-VAST Access Systems is based in Pune, India and is a 50:50 joint venture between VAST LLC and Minda Management Services Limited, an affiliate of both Minda Corporation Limited and Spark Minda, Ashok Minda Group of New Delhi, India (collectively “Minda”). Minda and its affiliates cater to the needs of all major car, motorcycle, commercial vehicle, tractor and off-road vehicle manufacturers in India. They are a leading manufacturer in the Indian marketplace of security & access products, handles, automotive safety, restraint systems, driver information and telematics systems for both OEMs and the aftermarket. VAST LLC also maintains branch offices in South Korea and Japan in support of customer sales and engineering requirements. The VAST LLC investments are accounted for using the equity method of accounting and the results of the VAST LLC foreign subsidiaries and joint venture are reported on a one-month lag basis. The activities related to the VAST LLC foreign subsidiaries and joint venture resulted in equity earnings of joint ventures to STRATTEC of $1.9 million during the six month period ended December 27, 2020 and $983,000 during the six month period ended December 29, 2019. During the six months ended December 27, 2020, capital contributions totaling $300,000 were made to VAST LLC for purposes of funding operations in Brazil. STRATTEC’s portion of the capital contributions totaled $100,000. During the six months ended December 29, 2019, no capital contributions were made to VAST LLC by any of the members. ADAC-STRATTEC LLC, a Delaware limited liability company, was formed in fiscal year 2007 to support injection molding and door handle assembly operations in Mexico. ADAC-STRATTEC LLC was 51 percent owned by STRATTEC and 49 percent owned by ADAC for all periods presented in this report. An additional Mexican entity, ADAC-STRATTEC de Mexico, is wholly owned by ADAC-STRATTEC LLC. ADAC-STRATTEC LLC’s financial results are consolidated with the financial results of STRATTEC and resulted in increased net income to STRATTEC of approximately $2.7 million during the six month period ended December 27, 2020 and approximately $1.3 million during the six month period ended December 29, 2019. ADAC charges ADAC STRATTEC LLC an engineering, research and design fee as well as a sales fee. Such fees are calculated as a percentage of net sales, are included in the consolidated results of STRATTEC, and totaled $2.4 million and $4.8 million in the three and six month periods ended December 27, 2020, respectively, and $1.8 million and $4.0 million in the three and six month periods ended December 29, 2019, respectively. Additionally, ADAC-STRATTEC LLC sells production parts to ADAC. Sales to ADAC are included in the consolidated results of STRATTEC and totaled $3.3 million and $6.4 million in the three and six month periods ended December 27, 2020, respectively, and $2.0 million and $5.7 million in the three and six month periods ended December 29, 2019, respectively. STRATTEC POWER ACCESS LLC (“SPA”) was formed in fiscal year 2009 to supply the North American portion of the power sliding door, lift gate and deck lid system access control products which were acquired from Delphi Corporation. SPA was 80 percent owned by STRATTEC and 20 percent owned by WITTE for all periods presented in this report. An additional Mexican entity, STRATTEC POWER ACCESS de Mexico, is wholly owned by SPA. The financial results of SPA are consolidated with the financial results of STRATTEC and resulted in increased net income to STRATTEC of approximately $3.2 million during the six month period ended December 27, 2020 and $1.9 million during the six month period ended December 29, 2019.

Equity Earnings of Joint Ventur

Equity Earnings of Joint Ventures	6 Months Ended
	Dec. 27, 2020
Equity Method Investments And Joint Ventures [Abstract]
Equity Earnings of Joint Ventures	Equity Earnings of Joint Ventures As discussed above under Investment in Joint Ventures and Majority Owned Subsidiaries, we hold a one-third The following are summarized statements of operations for VAST LLC (in thousands): Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Net Sales $ 58,352 $ 44,479 $ 108,763 $ 87,047 Cost of Goods Sold 46,599 35,793 87,190 70,452 Gross Profit 11,753 8,686 21,573 16,595 Engineering, Selling and Administrative Expenses 8,649 7,323 15,252 14,004 Income From Operations 3,104 1,363 6,321 2,591 Other Income, net 1,185 643 1,036 1,503 Income before Provision for Income Taxes 4,289 2,006 7,357 4,094 Provision for Income Taxes 1,071 517 1,663 1,145 Net Income $ 3,218 $ 1,489 $ 5,694 $ 2,949 STRATTEC's Share of VAST LLC Net Income 1,073 496 1,898 983 Intercompany Profit Elimination 2 — 2 — STRATTEC’s Equity Earnings of VAST LLC $ 1,075 $ 496 $ 1,900 $ 983 We have sales of component parts to VAST 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 table summarizes these related party transactions with VAST LLC for the periods indicated below (in thousands): Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Sales to VAST LLC $ 998 $ 1,661 $ 2,214 $ 2,552 Purchases from VAST LLC $ 14 $ 82 $ 201 $ 179 Expenses Charged to VAST LLC $ 589 $ 519 $ 1,096 $ 1,350 Expenses Charged from VAST LLC $ 359 $ 218 $ 651 $ 444

Leases

Leases	6 Months Ended
	Dec. 27, 2020
Leases [Abstract]
Leases	Leases We have an operating lease for our El Paso, Texas finished goods and service parts distribution warehouse that has a current lease term through October 2023. This lease includes renewal terms that can extend the lease term for five additional years. For purposes of calculating operating lease obligations, we included the option to extend the lease as it is reasonably certain that we will exercise such option. The lease does not contain material residual value guarantees or restrictive covenants. Operating lease expense is recognized on a straight-line basis over the lease term. As the lease does not provide an implicit rate, we used our incremental borrowing rate at lease commencement to determine the present value of our lease payments. The incremental borrowing rate is an entity-specific rate which represents the rate of interest we would pay to borrow over a similar term with similar payments. The operating lease asset and obligation related to our El Paso warehouse lease included in the accompanying Condensed Consolidated Balance Sheets are presented below (in thousands): December 27, 2020 Right-of Use Asset Under Operating Lease: Other Long-Term Assets $ 3,579 Lease Obligation Under Operating Lease: Current Liabilities: Accrued Liabilities: Other $ 365 Other Long-Term Liabilities 3,214 $ 3,579 Future minimum lease payments, by our fiscal year, including options to extend that are reasonably certain to be exercised, under this non-cancelable lease are as follows as of December 27, 2020 (in thousands): 2021 (for the remaining six months) $ 238 2022 484 2023 497 2024 509 2025 522 Thereafter 1,834 Total Future Minimum Lease Payments 4,084 Less: Imputed Interest (505 ) Total Lease Obligations $ 3,579 Cash flow information related to the operating lease is shown below (in thousands): Six Months Ended December 27, 2020 Operating Cash Flows: Cash Paid Related to Operating Lease Obligation $ 235 The weighted average lease term and discount rate for the El Paso, Texas operating lease are shown below: December 27, 2020 Weighted Average Remaining Lease Term (in years) 7.8 Weighted Average Discount Rate 3.3 % Operating lease expense for the three and six month periods ended December 27, 2020 totaled $119,000 and $235,000, respectively. Operating lease expense for the three and six month periods ended December 29, 2019 totaled $116,000 and $229,000, respectively.

Credit Facilities

Credit Facilities	6 Months Ended
	Dec. 27, 2020
Debt Disclosure [Abstract]
Credit Facilities	Credit Facilities STRATTEC has a $40 million secured revolving credit facility (the “STRATTEC Credit Facility”) with BMO Harris Bank N.A. ADAC-STRATTEC LLC has a $25 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, 2022. Borrowings under either credit facility are secured by our U.S. cash balances, accounts receivable, inventory, and fixed assets. 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 is at varying rates based, at our option, on LIBOR plus 1.25 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 27, 2020, we were in compliance with all financial covenants required by these credit facilities. Outstanding borrowings under the credit facilities were as follows (in thousands): December 27, 2020 June 28, 2020 STRATTEC Credit Facility $ 8,000 $ 18,000 ADAC-STRATTEC Credit Facility 14,000 17,000 $ 22,000 $ 35,000 Average outstanding borrowings and the weighted average interest rate under each credit facility referenced above were as follows for each period presented (in thousands): Six Months Ended Average Weighted Average Interest Rate December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 STRATTEC Credit Facility $ 13,747 $ 14,604 1.2 % 3.1 % ADAC-STRATTEC Credit Facility $ 16,258 $ 21,473 1.4 % 3.3 %

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 27, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are from time to time subject to various legal actions and claims incidental to our business, including those arising out of alleged defects, alleged breaches of contracts, product warranties, intellectual property matters and employment related matters. It is our opinion that the outcome of such matters will not have a material adverse impact on our consolidated financial position, results of operations or cash flows. With respect to warranty matters, although we cannot ensure that future costs of warranty claims by customers will not be material, we believe our established reserves are adequate to cover potential warranty settlements. In 1995, we recorded a provision of $3 million for estimated costs to remediate an environmental contamination site at our Milwaukee facility. The facility 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, in fiscal 2010, the reserve was adjusted based on updated third party estimates to adequately cover the cost for active remediation of the contamination. Additionally, in fiscal 2016, we obtained updated third party estimates for adequately covering the cost for active remediation of this contamination. Based upon the updated estimates, no further adjustment to the reserve was required. From 1995 through December 27, 2020, costs of approximately $625,000 have been incurred related to the installation of monitoring wells on the property and ongoing monitoring costs. We 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 our 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 $1.3 million at December 27, 2020 is adequate.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Dec. 27, 2020
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity A summary of activity impacting shareholders’ equity for the three and six month periods ended December 27, 2020 and December 29, 2019 were as follows (in thousands): Three Months Ended December 27, 2020 Total Shareholders’ Equity Common Stock Capital in Excess of Par Value Retained Earnings Accumulated Other Comprehensive Loss Treasury Stock Non-Controlling Interest Balance, September 27, 2020 $ 187,020 $ 74 $ 98,188 $ 219,948 $ (20,665 ) $ (135,640 ) $ 25,115 Net Income 9,573 — — 7,113 — — 2,460 Translation Adjustments 4,417 — — — 3,104 — 1,313 Stock Based Compensation 374 — 374 — — — — Pension and Postretirement Adjustment, Net of Tax 69 — — — 69 — — Employee Stock Purchases 20 — 9 — — 11 — Balance, December 27, 2020 $ 201,473 $ 74 $ 98,571 $ 227,061 $ (17,492 ) $ (135,629 ) $ 28,888 Three Months Ended December 29, 2019 Total Shareholders’ Equity Common Stock Capital in Excess of Par Value Retained Earnings Accumulated Other Comprehensive Loss Treasury Stock Non-Controlling Interest Balance, September 29, 2019 $ 188,271 $ 74 $ 97,128 $ 221,839 $ (19,691 ) $ (135,711 ) $ 24,632 Net Loss (1,095 ) — — (1,341 ) — — 246 Dividend Declared (525 ) — — (525 ) — — — Translation Adjustments 1,634 — — — 1,132 — 502 Stock Based Compensation 211 — 211 — — — — Pension and Postretirement Adjustment, Net of Tax 73 — — — 73 — — Stock Option Exercises 256 — 256 — — — — Employee Stock Purchases 24 — 6 — — 18 — Balance, December 29, 2019 $ 188,849 $ 74 $ 97,601 $ 219,973 $ (18,486 ) $ (135,693 ) $ 25,380 Six Months Ended December 27, 2020 Total Shareholders’ Equity Common Stock Capital in Excess of Par Value Retained Earnings Accumulated Other Comprehensive Loss Treasury Stock Non-Controlling Interest Balance, June 28,2020 $ 175,441 $ 74 $ 97,977 $ 211,940 $ (22,113 ) $ (135,656 ) $ 23,219 Net Income 19,646 — — 15,121 — — 4,525 Dividend Declared – Non- controlling Interests of Subsidiaries (490 ) — — — — — (490 ) Translation Adjustments 6,116 — — — 4,482 — 1,634 Stock Based Compensation 582 — 582 — — — — Pension and Postretirement Adjustment, Net of Tax 139 — — — 139 — — Employee Stock Purchases 39 — 12 — — 27 — Balance, December 27, 2020 $ 201,473 $ 74 $ 98,571 $ 227,061 $ (17,492 ) $ (135,629 ) $ 28,888 Six Months Ended December 29, 2019 Total Shareholders’ Equity Common Stock Capital in Excess of Par Value Retained Earnings Accumulated Other Comprehensive Loss Treasury Stock Non-Controlling Interest Balance, June 30, 2019 $ 187,816 $ 73 $ 96,491 $ 221,117 $ (18,568 ) $ (135,725 ) $ 24,428 Net Income 1,585 — — (97 ) — — 1,682 Dividend Declared (1,047 ) — — (1,047 ) — — — Dividend Declared – Non- controlling Interests of Subsidiaries (980 ) — — — — — (980 ) Translation Adjustments 186 — — — (64 ) — 250 Stock Based Compensation 624 — 624 — — — — Pension and Postretirement Adjustment, Net of Tax 146 — — — 146 — — Stock Option Exercises 478 1 477 — — — — Employee Stock Purchases 41 — 9 — — 32 — Balance, December 29, 2019 $ 188,849 $ 74 $ 97,601 $ 219,973 $ (18,486 ) $ (135,693 ) $ 25,380

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Dec. 27, 2020
Revenue From Contract With Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers We generate revenue from the production of parts sold to automotive and light-truck Original Equipment Manufacturers (“OEMs”), or Tier 1 suppliers at the direction of the OEM, under long-term supply agreements supporting new vehicle production. Such agreements also require related production of service parts subsequent to the initial vehicle production periods. Additionally, we generate revenue from the production of parts sold in aftermarket service channels and to non-automotive commercial customers. Contract Balances: We have no material contract assets as of December 27, 2020. Contract liability balances primarily include discounts recognized as a reduction in sales at the point of revenue recognition, but which will be applied by the customer agreement after the end of the reporting period. Contract liability balances are included in Other Accrued Liabilities in the accompanying Condensed Consolidated Balance Sheets. The activity related to contract liability balances during the six month period ended December 27, 2020 was as follows (thousands of dollars): Balance, June 28, 2020 $ 373 Discounts Recorded as a Reduction in Sales 222 Payments of Discounts to Customers (129 ) Other (27 ) Balance, December 27, 2020 $ 439 Revenue by Product Group and Customer: Revenue by product group for the periods presented was as follows (thousands of dollars): Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Door Handles & Exterior Trim $ 34,813 $ 26,131 $ 68,904 $ 57,522 Keys & Locksets 30,136 29,177 62,872 61,646 Power Access 25,210 16,262 45,830 35,720 Latches 14,343 13,074 28,178 26,971 Aftermarket & OE Service 9,971 12,135 23,108 23,048 Driver Controls 10,535 7,976 20,322 17,761 Other 2,352 1,528 4,380 3,577 $ 127,360 $ 106,283 $ 253,594 $ 226,245 Revenue by customer or customer group for the periods presented was as follows (thousands of dollars): Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 General Motors Company $ 39,023 $ 25,405 $ 76,779 $ 59,243 Fiat Chrysler Automobiles 23,152 27,154 48,234 52,636 Ford Motor Company 16,788 15,253 32,634 31,065 Commercial and Other OEM Customers 19,596 21,420 41,031 42,766 Tier 1 Customers 18,660 14,784 36,155 32,531 Hyundai / Kia 10,141 2,267 18,761 8,004 $ 127,360 $ 106,283 $ 253,594 $ 226,245

Other (Expense) Income, Net

Other (Expense) Income, Net	6 Months Ended
	Dec. 27, 2020
Other Income And Expenses [Abstract]
Other (Expense) Income, Net	Other (Expense) Income, net Net other (expense) income included in the accompanying Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) primarily included foreign currency transaction gains and losses, realized and unrealized gains on our Mexican peso currency forward contracts, net periodic pension and postretirement benefit costs, other than the service cost component, related to our Supplemental Executive Retirement Plan (“SERP”) and postretirement plans 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. We entered into the Mexican Peso currency forward contracts described above 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 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 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Foreign Currency Transaction Loss $ (1,913 ) $ (363 ) $ (2,312 ) $ (448 ) Unrealized Gain on Peso Forward Contracts 145 — 480 — Realized Gain on Peso Forward Contracts 135 — 76 — Pension and Postretirement Plans Cost (103 ) (117 ) (208 ) (234 ) Rabbi Trust Gain 375 187 318 185 Other (5 ) 316 20 423 $ (1,366 ) $ 23 $ (1,626 ) $ (74 )

Income Taxes

Income Taxes	6 Months Ended
	Dec. 27, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate was 17.2% and 26.7 % for the three months ended December 27, 2020 and December 29, 2019, respectively. Our effective tax rate was 15.4% and (6.7) % for the six months ended December 27, 2020 and December 29, 2019, respectively. Effective July 20, 2020, the U.S Treasury Department finalized and enacted previously proposed regulations regarding the Global Intangible Low Taxed Income (GILTI) tax provisions of the Tax Cuts and Jobs Act of 2017 (TCJA). Prior to this enactment, GILTI represented a significant U.S. income tax on our foreign earnings during fiscal 2020. With the enactment of these final regulations, we are now eligible for an exclusion from GILTI since we meet the provisions for the GILTI High-Tax exception included in the final regulations. In addition, the enactment of the new regulations and our eligibility for the GILTI High-Tax exception are retroactive to the original enactment of the GILTI tax provision, which includes our 2020 fiscal year. As a result of the newly enacted regulations, we recorded an income tax benefit of $675,000 during the six month period ended December 27, 2020. During the three and six month periods ended December 29, 2019, our effective tax rate was impacted by the discrete impact of the non-cash compensation expense, as discussed under Pension and Postretirement Benefits below. Our effective tax rate differs from the statutory tax rate due to the GILTI provisions, our available R&D tax credit and the non-controlling interest portion of our pre-tax income. The non-controlling interest impacts the effective tax rate as ADAC-STRATTEC LLC and STRATTEC POWER ACCESS LLC entities are taxed as partnerships for U.S. tax purposes. STRATTEC is currently subject to state income tax examinations in our Wisconsin jurisdiction for fiscal years 2015, 2016, 2017, and 2018. The audit is currently in process and preliminary results are not yet available.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Dec. 27, 2020
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic earnings (loss) 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 December 27, 2020 December 29, 2019 Net Income Shares Per-Share Amount Net Loss Shares Per-Share Amount Basic Earnings (Loss) Per Share $ 7,113 3,786 $ 1.88 $ (1,341 ) 3,741 $ (0.36 ) Stock Option and Restricted Stock Awards — 56 — — Diluted Earnings (Loss) Per Share $ 7,113 3,842 $ 1.85 $ (1,341 ) 3,741 $ (0.36 ) Six Months Ended December 27, 2020 December 29, 2019 Net Income Shares Per-Share Amount Net Loss Shares Per-Share Amount Basic Earnings (Loss) Per Share $ 15,121 3,775 $ 4.01 $ (97 ) 3,725 $ (0.03 ) Stock Option and Restricted Stock Awards — 40 — — Diluted Earnings (Loss) Per Share $ 15,121 3,815 $ 3.96 $ (97 ) 3,725 $ (0.03 ) The calculation of earnings per share excluded 41,200 and 163,749 share-based payment awards as of December 27, 2020 and December 29, 2019, respectively, because their inclusion would have been anti-dilutive.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Dec. 27, 2020
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 27, 2020, the Board of Directors had designated 2 million 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 27, 2020 were 218,034. 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 associates 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 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 as determined by the Compensation Committee of the Board of Directors. 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 one year from the date of grant. Unvested restricted shares granted have voting rights, regardless of whether the shares are vested or unvested, but only have the right to receive cash dividends after such shares become vested. Restricted stock grants vest 1 to 5 years after the date of grant as determined by the Compensation Committee of the Board of Directors. The fair value of each stock option grant was estimated as of the date of grant using the Black-Scholes pricing model. 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 for fixed awards with graded vesting schedules is amortized on a straight line basis over the vesting period for the entire award. A summary of stock option activity under our stock incentive plan for the six months ended December 27, 2020 was as follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding, June 28, 2020 90,860 $ 35.88 Outstanding, December 27, 2020 90,860 $ 35.88 1.9 $ 1,665 Exercisable, December 27, 2020 90,860 $ 35.88 1.9 $ 1,665 The intrinsic value of stock options exercised and the fair value of stock options that vested during the three and six month periods presented below were as follows (in thousands): Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Intrinsic Value of Options Exercised $ — $ 83 $ — $ 120 Fair Value of Stock Options Vesting $ — $ — $ — $ — No options were granted during the six month periods ended December 27, 2020 or December 29, 2019. A summary of restricted stock activity under our omnibus stock incentive plan for the six months ended December 27, 2020 was as follows: Shares Weighted Average Grant Date Fair Value Nonvested Balance, June 28, 2020 69,394 $ 30.59 Granted 48,300 $ 21.20 Vested (34,669 ) $ 34.95 Nonvested Balance, December 27, 2020 83,025 $ 23.31 As of December 27, 2020, all compensation cost related to outstanding stock options granted under our omnibus stock incentive plan has been recognized. As of December 27, 2020, there was approximately $1.2 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 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 Bene

Pension and Postretirement Benefits	6 Months Ended
	Dec. 27, 2020
Compensation And Retirement Disclosure [Abstract]
Pension and Postretirement Benefits	Pension and Postretirement Benefits We had a qualified, noncontributory defined benefit pension plan (“Qualified Pension Plan”) covering substantially all U.S. associates employed by us prior to January 1, 2010. Effective December 31, 2009, the Board of Directors amended the Qualified Pension Plan to freeze benefit accruals and future eligibility. The Board of Directors subsequently approved to proceed with the termination of the Qualified Pension Plan. During the quarter ended December 30, 2018, we completed a substantial portion of terminating the Qualified Pension Plan. In connection with the termination of the Qualified Pension Plan, distributions from the Qualified Pension Plan trust were made during the three month period ended December 30, 2018 to participants who elected lump-sum distributions. Additionally, during the three months ended December 30, 2018, we entered into an agreement with an insurance company to purchase from us, through a series of annuity contracts, our remaining obligations under the Qualified Pension Plan and, as a result, we settled the remaining obligations under the plan for the remaining participants utilizing funds available in the Qualified Pension Plan trust. No additional cash contributions to the trust were required to settle the pension obligations. As a result of these actions, a non-cash pre-tax settlement charge of $31.9 million was recorded during fiscal 2019. A non-cash compensation expense charge of $4.2 million was also recorded during fiscal 2019 related to the future transfer of the excess assets in the Qualified Pension Plan to a STRATTEC defined contribution plan for subsequent pay-out to eligible STRATTEC employees based on a plan approved by the Board of Directors in June 2019. An additional $4.8 million non-cash compensation expense charge related to the final transfer and pay-out of the excess Qualified Pension Plan assets was recorded during our fiscal 2020, of which $2.3 million of non-cash compensation expense was recorded during the three month period ended December 29, 2019 and $4.5 million of non-cash compensation expense was recorded during the six month period ended December 29, 2019. During fiscal 2020, the excess Qualified Pension Plan assets were transferred to our defined contribution plan and distributed to eligible STRATTEC employees, which completed the full termination of the Qualified Pension Plan. We have a noncontributory Supplemental Executive Retirement Plan (“SERP”), which is a nonqualified defined benefit plan. The SERP is funded through a Rabbi Trust with TMI Trust Company. Under the SERP, as amended December 31, 2013, participants received an accrued lump-sum benefit as of December 31, 2013, which was credited to each participant’s account. Subsequent to December 31, 2013, each eligible participant receives 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 then current participants as of December 31, 2013 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 period. The SERP, which is considered a nonqualified defined benefit plan under applicable rules and regulations of the Internal Revenue Code, 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 Rabbi Trust assets had a value of $3.3 million at December 27, 2020 and $2.9 million at June 28, 2020 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 U.S. associates hired prior to June 1, 2001. The expected cost of retiree health care benefits is recognized during the years 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 the benefit is further subject to a maximum five year coverage period based on the associate’s retirement date and age. The postretirement health care plan is unfunded. The service cost component of the net periodic benefit costs under these plans is allocated between Cost of Goods Sold and Engineering, Selling and Administrative Expenses while the remaining components of the net periodic benefit costs are included in Other (Expense) Income, net in the accompanying Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss). The following table summarizes the net periodic benefit cost recognized for each of the periods indicated under these plans (in thousands): SERP Benefits Postretirement Benefits Three Months Ended Three Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Service Cost $ 15 $ 18 $ 4 $ 3 Interest Cost 11 15 4 7 Amortization of Prior Service Credit — — (2 ) (8 ) Amortization of Unrecognized Net Loss 2 3 89 100 Net Periodic Benefit Cost $ 28 $ 36 $ 95 $ 102 SERP Benefits Postretirement Benefits Six Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Service Cost $ 31 $ 37 $ 7 $ 6 Interest Cost 21 30 8 13 Amortization of Prior Service Credit — — (4 ) (15 ) Amortization of Unrecognized Net Loss 5 7 178 199 Net Periodic Benefit Cost $ 57 $ 74 $ 189 $ 203

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Dec. 27, 2020
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following tables summarize the changes in accumulated other comprehensive loss (“AOCL”) for each period presented (in thousands): Three Months Ended December 27, 2020 Foreign Currency Translation Adjustments Retirement and Postretirement Benefit Plans Total Balance, September 27, 2020 $ 18,758 $ 1,907 $ 20,665 Other Comprehensive Income Before Reclassifications (4,417 ) — (4,417 ) Net Other Comprehensive Income Before Reclassifications (4,417 ) — (4,417 ) Reclassifications: Prior Service Credits (A) — 2 2 Unrecognized Net Loss (A) — (91 ) (91 ) Total Reclassifications Before Tax — (89 ) (89 ) Income Tax — 20 20 Net Reclassifications — (69 ) (69 ) Other Comprehensive Income (4,417 ) (69 ) (4,486 ) Other Comprehensive Income Attributable to Non- Controlling Interest (1,313 ) — (1,313 ) Balance, December 27, 2020 $ 15,654 $ 1,838 $ 17,492 Three Months Ended December 29, 2019 Foreign Currency Translation Adjustments Retirement and Postretirement Benefit Plans Total Balance, September 29, 2019 $ 17,513 $ 2,178 $ 19,691 Other Comprehensive Income Before Reclassifications (1,634 ) — (1,634 ) Net Other Comprehensive Income Before Reclassifications (1,634 ) — (1,634 ) Reclassifications: Prior Service Credits (A) — 8 8 Unrecognized Net Loss (A) — (103 ) (103 ) Total Reclassifications Before Tax — (95 ) (95 ) Income Tax — 22 22 Net Reclassifications — (73 ) (73 ) Other Comprehensive Income (1,634 ) (73 ) (1,707 ) Other Comprehensive Income Attributable to Non- Controlling Interest (502 ) — (502 ) Balance, December 29, 2019 $ 16,381 $ 2,105 $ 18,486 Six Months Ended December 27, 2020 Foreign Currency Translation Adjustments Retirement and Postretirement Benefit Plans Total Balance, June 28, 2020 $ 20,136 $ 1,977 $ 22,113 Other Comprehensive Income Before Reclassifications (6,116 ) — (6,116 ) Net Other Comprehensive Income Before Reclassifications (6,116 ) — (6,116 ) Reclassifications: Prior Service Credits (A) — 4 4 Unrecognized Net Loss (A) — (183 ) (183 ) Total Reclassifications Before Tax — (179 ) (179 ) Income Tax — 40 40 Net Reclassifications — (139 ) (139 ) Other Comprehensive Income (6,116 ) (139 ) (6,255 ) Other Comprehensive Income Attributable to Non- Controlling Interest (1,634 ) — (1,634 ) Balance, December 27, 2020 $ 15,654 $ 1,838 $ 17,492 Six Months Ended December 29, 2019 Foreign Currency Translation Adjustments Retirement and Postretirement Benefit Plans Total Balance, June 30, 2019 $ 16,317 $ 2,251 $ 18,568 Other Comprehensive Income Before Reclassifications (186 ) — (186 ) Net Other Comprehensive Income Before Reclassifications (186 ) — (186 ) Reclassifications: Prior Service Credits (A) — 15 15 Unrecognized Net Loss (A) — (206 ) (206 ) Total Reclassifications Before Tax — (191 ) (191 ) Income Tax — 45 45 Net Reclassifications — (146 ) (146 ) Other Comprehensive Income (186 ) (146 ) (332 ) Other Comprehensive Income Attributable to Non- Controlling Interest (250 ) — (250 ) Balance, December 29, 2019 $ 16,381 $ 2,105 $ 18,486 (A) Amounts reclassified are included in the computation of net periodic benefit cost, which is included in Other (Expense) Income, net in the accompanying Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss). See Pension and Postretirement Benefits note to these Notes to Condensed Consolidated Financial Statements above.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Dec. 27, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Fair Market Value of All Outstanding Peso Forward Contracts	The fair market value of all outstanding Mexican peso forward contracts in the accompanying Condensed Consolidated Balance Sheets as of the dates specified was as follows (thousands of dollars): December 27, 2020 June 28, 2020 Not Designated as Hedging Instruments: Other Current Liabilities: Mexican Peso Forward Contracts $ — $ 480
Pre-Tax Effects of the Peso Forward Contracts	The pre-tax effects of the Mexican peso forward contracts are included in Other (Expense) Income, net on the accompanying Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) and consisted of the following for the periods indicated below (thousands of dollars): Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Not Designated as Hedging Instruments: Realized Loss $ (135 ) $ — $ (76 ) $ — Unrealized Gain $ 145 $ — $ 480 $ —

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Dec. 27, 2020
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 27, 2020 (in thousands): Fair Value Inputs Level 1 Assets: Quoted Prices In Level 2 Assets: Observable Inputs Other Than Market Prices Level 3 Assets: Unobservable Inputs Assets: Rabbi Trust Assets: Stock Index Funds: Small Cap $ 329 $ — $ — Mid Cap 326 — — Large Cap 649 — — International 978 — — Fixed Income Funds 965 — — Cash and Cash Equivalents — 6 — Total Assets at Fair Value $ 3,247 $ 6 $ —

Equity Earnings of Joint Vent_2

Equity Earnings of Joint Ventures (Tables) - VAST LLC	6 Months Ended
	Dec. 27, 2020
Summarized Statements of Operations	The following are summarized statements of operations for VAST LLC (in thousands): Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Net Sales $ 58,352 $ 44,479 $ 108,763 $ 87,047 Cost of Goods Sold 46,599 35,793 87,190 70,452 Gross Profit 11,753 8,686 21,573 16,595 Engineering, Selling and Administrative Expenses 8,649 7,323 15,252 14,004 Income From Operations 3,104 1,363 6,321 2,591 Other Income, net 1,185 643 1,036 1,503 Income before Provision for Income Taxes 4,289 2,006 7,357 4,094 Provision for Income Taxes 1,071 517 1,663 1,145 Net Income $ 3,218 $ 1,489 $ 5,694 $ 2,949 STRATTEC's Share of VAST LLC Net Income 1,073 496 1,898 983 Intercompany Profit Elimination 2 — 2 — STRATTEC’s Equity Earnings of VAST LLC $ 1,075 $ 496 $ 1,900 $ 983
Summarize of Related Party Transaction	The following table summarizes these related party transactions with VAST LLC for the periods indicated below (in thousands): Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Sales to VAST LLC $ 998 $ 1,661 $ 2,214 $ 2,552 Purchases from VAST LLC $ 14 $ 82 $ 201 $ 179 Expenses Charged to VAST LLC $ 589 $ 519 $ 1,096 $ 1,350 Expenses Charged from VAST LLC $ 359 $ 218 $ 651 $ 444

Leases (Tables)

Leases (Tables)	6 Months Ended
	Dec. 27, 2020
Leases [Abstract]
Schedule of Operating Lease Asset and Obligation Included in Condensed Consolidated Balance Sheets	The operating lease asset and obligation related to our El Paso warehouse lease included in the accompanying Condensed Consolidated Balance Sheets are presented below (in thousands): December 27, 2020 Right-of Use Asset Under Operating Lease: Other Long-Term Assets $ 3,579 Lease Obligation Under Operating Lease: Current Liabilities: Accrued Liabilities: Other $ 365 Other Long-Term Liabilities 3,214 $ 3,579
Schedule of Future Minimum Lease Payments Under Non-Cancelable Lease Including Options to Extend	Future minimum lease payments, by our fiscal year, including options to extend that are reasonably certain to be exercised, under this non-cancelable lease are as follows as of December 27, 2020 (in thousands): 2021 (for the remaining six months) $ 238 2022 484 2023 497 2024 509 2025 522 Thereafter 1,834 Total Future Minimum Lease Payments 4,084 Less: Imputed Interest (505 ) Total Lease Obligations $ 3,579
Schedule of Cash Flow Information Related to Operating Lease	Cash flow information related to the operating lease is shown below (in thousands): Six Months Ended December 27, 2020 Operating Cash Flows: Cash Paid Related to Operating Lease Obligation $ 235
Schedule of Weighted Average Lease Term and Discount Rate for Operating Lease	The weighted average lease term and discount rate for the El Paso, Texas operating lease are shown below: December 27, 2020 Weighted Average Remaining Lease Term (in years) 7.8 Weighted Average Discount Rate 3.3 %

Credit Facilities (Tables)

Credit Facilities (Tables)	6 Months Ended
	Dec. 27, 2020
Debt Disclosure [Abstract]
Schedule of Outstanding Borrowings Under the Credit Facilities	Outstanding borrowings under the credit facilities were as follows (in thousands): December 27, 2020 June 28, 2020 STRATTEC Credit Facility $ 8,000 $ 18,000 ADAC-STRATTEC Credit Facility 14,000 17,000 $ 22,000 $ 35,000
Schedule of Average Outstanding Borrowings and the Weighted Average Interest Rate	Average outstanding borrowings and the weighted average interest rate under each credit facility referenced above were as follows for each period presented (in thousands): Six Months Ended Average Weighted Average Interest Rate December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 STRATTEC Credit Facility $ 13,747 $ 14,604 1.2 % 3.1 % ADAC-STRATTEC Credit Facility $ 16,258 $ 21,473 1.4 % 3.3 %

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Dec. 27, 2020
Equity [Abstract]
Summary of Activity Impacting Shareholders' Equity	A summary of activity impacting shareholders’ equity for the three and six month periods ended December 27, 2020 and December 29, 2019 were as follows (in thousands): Three Months Ended December 27, 2020 Total Shareholders’ Equity Common Stock Capital in Excess of Par Value Retained Earnings Accumulated Other Comprehensive Loss Treasury Stock Non-Controlling Interest Balance, September 27, 2020 $ 187,020 $ 74 $ 98,188 $ 219,948 $ (20,665 ) $ (135,640 ) $ 25,115 Net Income 9,573 — — 7,113 — — 2,460 Translation Adjustments 4,417 — — — 3,104 — 1,313 Stock Based Compensation 374 — 374 — — — — Pension and Postretirement Adjustment, Net of Tax 69 — — — 69 — — Employee Stock Purchases 20 — 9 — — 11 — Balance, December 27, 2020 $ 201,473 $ 74 $ 98,571 $ 227,061 $ (17,492 ) $ (135,629 ) $ 28,888 Three Months Ended December 29, 2019 Total Shareholders’ Equity Common Stock Capital in Excess of Par Value Retained Earnings Accumulated Other Comprehensive Loss Treasury Stock Non-Controlling Interest Balance, September 29, 2019 $ 188,271 $ 74 $ 97,128 $ 221,839 $ (19,691 ) $ (135,711 ) $ 24,632 Net Loss (1,095 ) — — (1,341 ) — — 246 Dividend Declared (525 ) — — (525 ) — — — Translation Adjustments 1,634 — — — 1,132 — 502 Stock Based Compensation 211 — 211 — — — — Pension and Postretirement Adjustment, Net of Tax 73 — — — 73 — — Stock Option Exercises 256 — 256 — — — — Employee Stock Purchases 24 — 6 — — 18 — Balance, December 29, 2019 $ 188,849 $ 74 $ 97,601 $ 219,973 $ (18,486 ) $ (135,693 ) $ 25,380 Six Months Ended December 27, 2020 Total Shareholders’ Equity Common Stock Capital in Excess of Par Value Retained Earnings Accumulated Other Comprehensive Loss Treasury Stock Non-Controlling Interest Balance, June 28,2020 $ 175,441 $ 74 $ 97,977 $ 211,940 $ (22,113 ) $ (135,656 ) $ 23,219 Net Income 19,646 — — 15,121 — — 4,525 Dividend Declared – Non- controlling Interests of Subsidiaries (490 ) — — — — — (490 ) Translation Adjustments 6,116 — — — 4,482 — 1,634 Stock Based Compensation 582 — 582 — — — — Pension and Postretirement Adjustment, Net of Tax 139 — — — 139 — — Employee Stock Purchases 39 — 12 — — 27 — Balance, December 27, 2020 $ 201,473 $ 74 $ 98,571 $ 227,061 $ (17,492 ) $ (135,629 ) $ 28,888 Six Months Ended December 29, 2019 Total Shareholders’ Equity Common Stock Capital in Excess of Par Value Retained Earnings Accumulated Other Comprehensive Loss Treasury Stock Non-Controlling Interest Balance, June 30, 2019 $ 187,816 $ 73 $ 96,491 $ 221,117 $ (18,568 ) $ (135,725 ) $ 24,428 Net Income 1,585 — — (97 ) — — 1,682 Dividend Declared (1,047 ) — — (1,047 ) — — — Dividend Declared – Non- controlling Interests of Subsidiaries (980 ) — — — — — (980 ) Translation Adjustments 186 — — — (64 ) — 250 Stock Based Compensation 624 — 624 — — — — Pension and Postretirement Adjustment, Net of Tax 146 — — — 146 — — Stock Option Exercises 478 1 477 — — — — Employee Stock Purchases 41 — 9 — — 32 — Balance, December 29, 2019 $ 188,849 $ 74 $ 97,601 $ 219,973 $ (18,486 ) $ (135,693 ) $ 25,380

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Dec. 27, 2020
Revenue From Contract With Customer [Abstract]
Contract Liability Balances	The activity related to contract liability balances during the six month period ended December 27, 2020 was as follows (thousands of dollars): Balance, June 28, 2020 $ 373 Discounts Recorded as a Reduction in Sales 222 Payments of Discounts to Customers (129 ) Other (27 ) Balance, December 27, 2020 $ 439
Revenue by Product Group and Customer	Revenue by product group for the periods presented was as follows (thousands of dollars): Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Door Handles & Exterior Trim $ 34,813 $ 26,131 $ 68,904 $ 57,522 Keys & Locksets 30,136 29,177 62,872 61,646 Power Access 25,210 16,262 45,830 35,720 Latches 14,343 13,074 28,178 26,971 Aftermarket & OE Service 9,971 12,135 23,108 23,048 Driver Controls 10,535 7,976 20,322 17,761 Other 2,352 1,528 4,380 3,577 $ 127,360 $ 106,283 $ 253,594 $ 226,245 Revenue by customer or customer group for the periods presented was as follows (thousands of dollars): Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 General Motors Company $ 39,023 $ 25,405 $ 76,779 $ 59,243 Fiat Chrysler Automobiles 23,152 27,154 48,234 52,636 Ford Motor Company 16,788 15,253 32,634 31,065 Commercial and Other OEM Customers 19,596 21,420 41,031 42,766 Tier 1 Customers 18,660 14,784 36,155 32,531 Hyundai / Kia 10,141 2,267 18,761 8,004 $ 127,360 $ 106,283 $ 253,594 $ 226,245

Other (Expense) Income, Net (Ta

Other (Expense) Income, Net (Tables)	6 Months Ended
	Dec. 27, 2020
Other Income And Expenses [Abstract]
Summary of Other (Expense) Income, Net	The impact of these items for each of the periods presented was as follows (in thousands): Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Foreign Currency Transaction Loss $ (1,913 ) $ (363 ) $ (2,312 ) $ (448 ) Unrealized Gain on Peso Forward Contracts 145 — 480 — Realized Gain on Peso Forward Contracts 135 — 76 — Pension and Postretirement Plans Cost (103 ) (117 ) (208 ) (234 ) Rabbi Trust Gain 375 187 318 185 Other (5 ) 316 20 423 $ (1,366 ) $ 23 $ (1,626 ) $ (74 )

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
	Dec. 27, 2020
Earnings Per Share [Abstract]
Reconciliation of the Components of 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 December 27, 2020 December 29, 2019 Net Income Shares Per-Share Amount Net Loss Shares Per-Share Amount Basic Earnings (Loss) Per Share $ 7,113 3,786 $ 1.88 $ (1,341 ) 3,741 $ (0.36 ) Stock Option and Restricted Stock Awards — 56 — — Diluted Earnings (Loss) Per Share $ 7,113 3,842 $ 1.85 $ (1,341 ) 3,741 $ (0.36 ) Six Months Ended December 27, 2020 December 29, 2019 Net Income Shares Per-Share Amount Net Loss Shares Per-Share Amount Basic Earnings (Loss) Per Share $ 15,121 3,775 $ 4.01 $ (97 ) 3,725 $ (0.03 ) Stock Option and Restricted Stock Awards — 40 — — Diluted Earnings (Loss) Per Share $ 15,121 3,815 $ 3.96 $ (97 ) 3,725 $ (0.03 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Dec. 27, 2020
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 27, 2020 was as follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding, June 28, 2020 90,860 $ 35.88 Outstanding, December 27, 2020 90,860 $ 35.88 1.9 $ 1,665 Exercisable, December 27, 2020 90,860 $ 35.88 1.9 $ 1,665
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 that vested during the three and six month periods presented below were as follows (in thousands): Three Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Intrinsic Value of Options Exercised $ — $ 83 $ — $ 120 Fair Value of Stock Options Vesting $ — $ — $ — $ —
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 27, 2020 was as follows: Shares Weighted Average Grant Date Fair Value Nonvested Balance, June 28, 2020 69,394 $ 30.59 Granted 48,300 $ 21.20 Vested (34,669 ) $ 34.95 Nonvested Balance, December 27, 2020 83,025 $ 23.31

Pension and Postretirement Be_2

Pension and Postretirement Benefits (Tables)	6 Months Ended
	Dec. 27, 2020
Compensation And Retirement Disclosure [Abstract]
Summary of Net Periodic Benefit Cost Recognized	The following table summarizes the net periodic benefit cost recognized for each of the periods indicated under these plans (in thousands): SERP Benefits Postretirement Benefits Three Months Ended Three Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Service Cost $ 15 $ 18 $ 4 $ 3 Interest Cost 11 15 4 7 Amortization of Prior Service Credit — — (2 ) (8 ) Amortization of Unrecognized Net Loss 2 3 89 100 Net Periodic Benefit Cost $ 28 $ 36 $ 95 $ 102 SERP Benefits Postretirement Benefits Six Months Ended Six Months Ended December 27, 2020 December 29, 2019 December 27, 2020 December 29, 2019 Service Cost $ 31 $ 37 $ 7 $ 6 Interest Cost 21 30 8 13 Amortization of Prior Service Credit — — (4 ) (15 ) Amortization of Unrecognized Net Loss 5 7 178 199 Net Periodic Benefit Cost $ 57 $ 74 $ 189 $ 203

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Dec. 27, 2020
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Summary of Changes in Accumulated Other Comprehensive Loss	The following tables summarize the changes in accumulated other comprehensive loss (“AOCL”) for each period presented (in thousands): Three Months Ended December 27, 2020 Foreign Currency Translation Adjustments Retirement and Postretirement Benefit Plans Total Balance, September 27, 2020 $ 18,758 $ 1,907 $ 20,665 Other Comprehensive Income Before Reclassifications (4,417 ) — (4,417 ) Net Other Comprehensive Income Before Reclassifications (4,417 ) — (4,417 ) Reclassifications: Prior Service Credits (A) — 2 2 Unrecognized Net Loss (A) — (91 ) (91 ) Total Reclassifications Before Tax — (89 ) (89 ) Income Tax — 20 20 Net Reclassifications — (69 ) (69 ) Other Comprehensive Income (4,417 ) (69 ) (4,486 ) Other Comprehensive Income Attributable to Non- Controlling Interest (1,313 ) — (1,313 ) Balance, December 27, 2020 $ 15,654 $ 1,838 $ 17,492 Three Months Ended December 29, 2019 Foreign Currency Translation Adjustments Retirement and Postretirement Benefit Plans Total Balance, September 29, 2019 $ 17,513 $ 2,178 $ 19,691 Other Comprehensive Income Before Reclassifications (1,634 ) — (1,634 ) Net Other Comprehensive Income Before Reclassifications (1,634 ) — (1,634 ) Reclassifications: Prior Service Credits (A) — 8 8 Unrecognized Net Loss (A) — (103 ) (103 ) Total Reclassifications Before Tax — (95 ) (95 ) Income Tax — 22 22 Net Reclassifications — (73 ) (73 ) Other Comprehensive Income (1,634 ) (73 ) (1,707 ) Other Comprehensive Income Attributable to Non- Controlling Interest (502 ) — (502 ) Balance, December 29, 2019 $ 16,381 $ 2,105 $ 18,486 Six Months Ended December 27, 2020 Foreign Currency Translation Adjustments Retirement and Postretirement Benefit Plans Total Balance, June 28, 2020 $ 20,136 $ 1,977 $ 22,113 Other Comprehensive Income Before Reclassifications (6,116 ) — (6,116 ) Net Other Comprehensive Income Before Reclassifications (6,116 ) — (6,116 ) Reclassifications: Prior Service Credits (A) — 4 4 Unrecognized Net Loss (A) — (183 ) (183 ) Total Reclassifications Before Tax — (179 ) (179 ) Income Tax — 40 40 Net Reclassifications — (139 ) (139 ) Other Comprehensive Income (6,116 ) (139 ) (6,255 ) Other Comprehensive Income Attributable to Non- Controlling Interest (1,634 ) — (1,634 ) Balance, December 27, 2020 $ 15,654 $ 1,838 $ 17,492 Six Months Ended December 29, 2019 Foreign Currency Translation Adjustments Retirement and Postretirement Benefit Plans Total Balance, June 30, 2019 $ 16,317 $ 2,251 $ 18,568 Other Comprehensive Income Before Reclassifications (186 ) — (186 ) Net Other Comprehensive Income Before Reclassifications (186 ) — (186 ) Reclassifications: Prior Service Credits (A) — 15 15 Unrecognized Net Loss (A) — (206 ) (206 ) Total Reclassifications Before Tax — (191 ) (191 ) Income Tax — 45 45 Net Reclassifications — (146 ) (146 ) Other Comprehensive Income (186 ) (146 ) (332 ) Other Comprehensive Income Attributable to Non- Controlling Interest (250 ) — (250 ) Balance, December 29, 2019 $ 16,381 $ 2,105 $ 18,486 (A) Amounts reclassified are included in the computation of net periodic benefit cost, which is included in Other (Expense) Income, net in the accompanying Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss). See Pension and Postretirement Benefits note to these Notes to Condensed Consolidated Financial Statements above.

Basis of Financial Statements (

Basis of Financial Statements (Details Textual)	6 Months Ended
	Dec. 27, 2020SubsidiaryJoint_VentureSegment
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of reporting segments related to STRATTEC Security Corporation | Segment	1
VAST LLC | CHINA
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of wholly owned subsidiaries	3
VAST LLC | BRAZIL
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of wholly owned subsidiaries	1
VAST LLC | INDIA
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of joint venture entities | Joint_Venture	1

Derivative Instruments - Fair M

Derivative Instruments - Fair Market Value of All Outstanding Peso Forward Contracts (Details) $ in Thousands	Jun. 28, 2020USD ($)
Other Current Liabilities | Mexican Peso Forward Contracts
Not designated as hedging instruments:
Fair market value of derivative instruments	$ 480

Derivative Instruments - Pre-Ta

Derivative Instruments - Pre-Tax Effects of the Peso Forward Contracts (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 27, 2020	Dec. 27, 2020
Pre-tax effects of the Mexican peso forward contracts
Realized Loss	$ 135	$ 76
Unrealized Gain	145	480
Not Designated as Hedging Instrument | Other Expense, Net
Pre-tax effects of the Mexican peso forward contracts
Realized Loss	(135)	(76)
Unrealized Gain	$ 145	$ 480

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Summary of Financial Assets and Liabilities at Fair Value on Recurring Basis (Details) - Fair Value Measurements Recurring $ in Thousands	Dec. 27, 2020USD ($)
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	$ 3,247
Level 1 | Fixed Income Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	965
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	6
Stock Index Funds | Level 1 | Small Cap
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	329
Stock Index Funds | Level 1 | Mid Cap
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	326
Stock Index Funds | Level 1 | Large Cap
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	649
Stock Index Funds | Level 1 | International
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	978
Cash and Cash Equivalents | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	$ 6

Investment in Joint Ventures _2

Investment in Joint Ventures and Majority Owned Subsidiaries (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Schedule Of Equity Method Investments [Line Items]
Equity earnings of joint ventures	$ 1,075,000	$ 492,000	$ 1,900,000	$ 976,000
Payments to acquire interest in joint venture			100,000
VAST LLC | BRAZIL
Schedule Of Equity Method Investments [Line Items]
Payments to acquire interest in joint venture			$ 300,000
VAST LLC | MINDA-VAST ACCESS SYSTEMS
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in equity method investment	50.00%		50.00%
STRATTEC | VAST LLC
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in equity method investment	33.33%		33.33%
Equity earnings of joint ventures			$ 1,900,000	983,000
Payments to acquire interest in joint venture			$ 100,000	$ 0
ADAC | VAST LLC
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in equity method investment	33.30%		33.30%
WITTE | VAST LLC
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in equity method investment	33.30%		33.30%
Strattec Power Access Llc | STRATTEC
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in less than wholly owned consolidated subsidiary	80.00%	80.00%	80.00%	80.00%
Income (loss) from majority owned subsidiaries, impact on net income			$ 3,200,000	$ 1,900,000
Strattec Power Access Llc | WITTE
Schedule Of Equity Method Investments [Line Items]
Purchases	$ 237,000	$ 250,000	$ 320,000	$ 643,000
Percentage ownership interest in less than wholly owned consolidated subsidiary	20.00%	20.00%	20.00%	20.00%
ADAC-STRATTEC LLC | STRATTEC
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in less than wholly owned consolidated subsidiary	51.00%	51.00%	51.00%	51.00%
Income (loss) from majority owned subsidiaries, impact on net income			$ 2,700,000	$ 1,300,000
ADAC-STRATTEC LLC | ADAC
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in less than wholly owned consolidated subsidiary	49.00%	49.00%	49.00%	49.00%
Engineering, research, design and sales fee	$ 2,400,000	$ 1,800,000	$ 4,800,000	$ 4,000,000
Sales	$ 3,300,000	$ 2,000,000	$ 6,400,000	$ 5,700,000

Equity Earnings of Joint Vent_3

Equity Earnings of Joint Ventures (Details Textual)	Dec. 27, 2020
VAST LLC | STRATTEC
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in equity method investment	33.33%

Equity Earnings of Joint Vent_4

Equity Earnings of Joint Ventures - Summarized Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Summarized statements of operations
Net sales	$ 127,360	$ 106,283	$ 253,594	$ 226,245
Cost of goods sold	105,119	95,950	208,842	200,026
Gross profit	22,241	10,333	44,752	26,219
Engineering, selling and administrative expenses	10,302	12,094	21,616	25,048
Income (loss) from operations	11,939	(1,761)	23,136	1,171
Other Income, net	(1,366)	23	(1,626)	(74)
Income (loss) before provision (benefit) for income taxes and non-controlling interest	11,564	(1,494)	23,214	1,485
Provision for Income Taxes	1,991	(399)	3,568	(100)
Net income (loss)	9,573	(1,095)	19,646	1,585
STRATTEC’s Equity Earnings of VAST LLC	1,075	492	1,900	976
VAST LLC | Equity Method Investment Summarized Financial Information
Summarized statements of operations
Net sales	58,352	44,479	108,763	87,047
Cost of goods sold	46,599	35,793	87,190	70,452
Gross profit	11,753	8,686	21,573	16,595
Engineering, selling and administrative expenses	8,649	7,323	15,252	14,004
Income (loss) from operations	3,104	1,363	6,321	2,591
Other Income, net	1,185	643	1,036	1,503
Income (loss) before provision (benefit) for income taxes and non-controlling interest	4,289	2,006	7,357	4,094
Provision for Income Taxes	1,071	517	1,663	1,145
Net income (loss)	3,218	1,489	5,694	2,949
STRATTEC's Share of VAST LLC Net Income	1,073	496	1,898	983
Intercompany Profit Elimination	2		2
STRATTEC’s Equity Earnings of VAST LLC	$ 1,075	$ 496	$ 1,900	$ 983

Equity Earnings of Joint Vent_5

Equity Earnings of Joint Ventures- Summarize of Related Party Transaction (Details) - VAST LLC - Equity Method Investee - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Schedule Of Equity Method Investments [Line Items]
Sales to VAST LLC	$ 998	$ 1,661	$ 2,214	$ 2,552
Purchases from VAST LLC	14	82	201	179
Expenses Charged to VAST LLC	589	519	1,096	1,350
Expenses Charged from VAST LLC	$ 359	$ 218	$ 651	$ 444

Leases (Details Textual)

Leases (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Leases [Abstract]
Operating lease, existence of option to extend			true
Operating lease, renewal Term	5 years		5 years
Operating lease, expiration term			2023-10
Operating lease expense	$ 119,000	$ 116,000	$ 235,000	$ 229,000

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Asset and Obligation Included in Condensed Consolidated Balance Sheets (Details) $ in Thousands	Dec. 27, 2020USD ($)
Right-of Use Asset Under Operating Lease:
Operating lease right-of-use asset	$ 3,579
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsNoncurrent
Lease Obligation Under Operating Lease:
Current Liabilities: Accrued Liabilities: Other	$ 365
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherAccruedLiabilitiesCurrent
Other Long-Term Liabilities	$ 3,214
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent
Operating Lease, Liability	$ 3,579

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments Under Non-Cancelable Lease Including Options to Extend (Details) $ in Thousands	Dec. 27, 2020USD ($)
Leases [Abstract]
2021 (for the remaining six months)	$ 238
2022	484
2023	497
2024	509
2025	522
Thereafter	1,834
Total Future Minimum Lease Payments	4,084
Less: Imputed Interest	(505)
Total Lease Obligations	$ 3,579

Leases - Schedule of Cash Flow

Leases - Schedule of Cash Flow Information Related to Operating Lease (Details) $ in Thousands	6 Months Ended
	Dec. 27, 2020USD ($)
Operating Cash Flows:
Cash Paid Related to Operating Lease Obligation	$ 235

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Lease Term and Discount Rate for Operating Lease (Details)	Dec. 27, 2020
Leases [Abstract]
Weighted Average Remaining Lease Term (in years)	7 years 9 months 18 days
Weighted Average Discount Rate	3.30%

Credit Facilities (Details Text

Credit Facilities (Details Textual)	6 Months Ended
	Dec. 27, 2020USD ($)
STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Secured revolving credit facility	$ 40,000,000
Credit facility maturity date	Aug. 1, 2022
Interest rate on borrowings under the credit facility	the 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%
ADAC-STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Secured revolving credit facility	$ 25,000,000
Credit facility maturity date	Aug. 1, 2022
Interest rate on borrowings under the credit facility	LIBOR plus 1.25 percent or the bank’s prime rate.
Interest rate - percentage points added to LIBOR - on borrowings under credit facility	1.25%

Credit Facilities - Schedule of

Credit Facilities - Schedule of Outstanding Borrowings Under the Credit Facilities (Details) - USD ($) $ in Thousands	Dec. 27, 2020	Jun. 28, 2020
Line Of Credit Facility [Line Items]
Outstanding Borrowing	$ 22,000	$ 35,000
STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Outstanding Borrowing	8,000	18,000
ADAC-STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Outstanding Borrowing	$ 14,000	$ 17,000

Credit Facilities - Schedule _2

Credit Facilities - Schedule of Average Outstanding Borrowings and the Weighted Average Interest Rate (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019
STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Average Outstanding Borrowings	$ 13,747	$ 14,604
Weighted Average Interest Rate	1.20%	3.10%
ADAC-STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Average Outstanding Borrowings	$ 16,258	$ 21,473
Weighted Average Interest Rate	1.40%	3.30%

Commitments and Contingencies (

Commitments and Contingencies (Details Textual) - USD ($)	6 Months Ended
	Dec. 27, 2020	Jun. 28, 2020
Commitments And Contingencies Disclosure [Abstract]
Environmental reserve originally established in 1995	$ 3,000,000
Environmental	1,250,000	$ 1,259,000
Cost incurred inception to date on installation and on-going monitoring of wells	$ 625,000

Shareholders' Equity - Summary

Shareholders' Equity - Summary of Activity Impacting Shareholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Summary of activity impacting shareholders' equity
Beginning Balance	$ 187,020	$ 188,271	$ 175,441	$ 187,816
Net income	9,573	(1,095)	19,646	1,585
Dividend Declared		(525)		(1,047)
Dividend Declared – Non-controlling Interests ofSubsidiaries			(490)	(980)
Translation Adjustments	4,417	1,634	6,116	186
Stock Based Compensation	374	211	582	624
Pension and Postretirement Adjustment, Net of Tax	69	73	139	146
Stock Option Exercises		256		478
Employee Stock Purchases	20	24	39	41
Ending Balance	201,473	188,849	201,473	188,849
Common Stock
Summary of activity impacting shareholders' equity
Beginning Balance	74	74	74	73
Stock Option Exercises				1
Ending Balance	74	74	74	74
Capital in Excess of Par Value
Summary of activity impacting shareholders' equity
Beginning Balance	98,188	97,128	97,977	96,491
Stock Based Compensation	374	211	582	624
Stock Option Exercises		256		477
Employee Stock Purchases	9	6	12	9
Ending Balance	98,571	97,601	98,571	97,601
Retained Earnings
Summary of activity impacting shareholders' equity
Beginning Balance	219,948	221,839	211,940	221,117
Net income	7,113	(1,341)	15,121	(97)
Dividend Declared		(525)		(1,047)
Ending Balance	227,061	219,973	227,061	219,973
Accumulated Other Comprehensive Loss
Summary of activity impacting shareholders' equity
Beginning Balance	(20,665)	(19,691)	(22,113)	(18,568)
Translation Adjustments	3,104	1,132	4,482	(64)
Pension and Postretirement Adjustment, Net of Tax	69	73	139	146
Ending Balance	(17,492)	(18,486)	(17,492)	(18,486)
Treasury Stock
Summary of activity impacting shareholders' equity
Beginning Balance	(135,640)	(135,711)	(135,656)	(135,725)
Employee Stock Purchases	11	18	27	32
Ending Balance	(135,629)	(135,693)	(135,629)	(135,693)
Non-Controlling Interest
Summary of activity impacting shareholders' equity
Beginning Balance	25,115	24,632	23,219	24,428
Net income	2,460	246	4,525	1,682
Dividend Declared – Non-controlling Interests ofSubsidiaries			(490)	(980)
Translation Adjustments	1,313	502	1,634	250
Ending Balance	$ 28,888	$ 25,380	$ 28,888	$ 25,380

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Contract Liability Balances (Details) - Other Accrued Liabilities $ in Thousands	6 Months Ended
	Dec. 27, 2020USD ($)
Contract With Customer Liability [Line Items]
Balance, June 28, 2020	$ 373
Discounts Recorded as a Reduction in Sales	222
Payments of Discounts to Customers	(129)
Other	(27)
Balance, December 27, 2020	$ 439

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Revenue by Product Group (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Product Information [Line Items]
Revenue	$ 127,360	$ 106,283	$ 253,594	$ 226,245
Door Handles & Exterior Trim
Product Information [Line Items]
Revenue	34,813	26,131	68,904	57,522
Keys & Locksets
Product Information [Line Items]
Revenue	30,136	29,177	62,872	61,646
Power Access
Product Information [Line Items]
Revenue	25,210	16,262	45,830	35,720
Latches
Product Information [Line Items]
Revenue	14,343	13,074	28,178	26,971
Aftermarket & OE Service
Product Information [Line Items]
Revenue	9,971	12,135	23,108	23,048
Driver Controls
Product Information [Line Items]
Revenue	10,535	7,976	20,322	17,761
Other
Product Information [Line Items]
Revenue	$ 2,352	$ 1,528	$ 4,380	$ 3,577

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Revenue by Customer or Customer Group (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Entity Wide Revenue Major Customer [Line Items]
Revenue	$ 127,360	$ 106,283	$ 253,594	$ 226,245
General Motors Company
Entity Wide Revenue Major Customer [Line Items]
Revenue	39,023	25,405	76,779	59,243
Fiat Chrysler Automobiles
Entity Wide Revenue Major Customer [Line Items]
Revenue	23,152	27,154	48,234	52,636
Ford Motor Company
Entity Wide Revenue Major Customer [Line Items]
Revenue	16,788	15,253	32,634	31,065
Commercial and Other OEM Customers
Entity Wide Revenue Major Customer [Line Items]
Revenue	19,596	21,420	41,031	42,766
Tier 1 Customers
Entity Wide Revenue Major Customer [Line Items]
Revenue	18,660	14,784	36,155	32,531
Hyundai / Kia
Entity Wide Revenue Major Customer [Line Items]
Revenue	$ 10,141	$ 2,267	$ 18,761	$ 8,004

Other (Expense) Income, Net - S

Other (Expense) Income, Net - Summary of Other (Expense) Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Other Income and Expenses [Abstract]
Foreign Currency Transaction Loss	$ (1,913)	$ (363)	$ (2,312)	$ (448)
Unrealized Gain on Peso Forward Contracts	145		480
Realized Gain on Peso Forward Contracts	135		76
Pension and Postretirement Plans Cost	(103)	(117)	(208)	(234)
Rabbi Trust Gain	375	187	318	185
Other	(5)	316	20	423
Other Expense, net	$ (1,366)	$ 23	$ (1,626)	$ (74)

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate	17.20%	26.70%	15.40%	(6.70%)
Income tax benefit from global intangible low-taxed income			$ 675,000

Earnings (Loss) Per Share - Rec

Earnings (Loss) Per Share - Reconciliation of the Components of Basic and Diluted Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Reconciliation of the components of the basic and diluted per share
Net Income (Loss), Basic Earnings (Loss) Per Share	$ 7,113	$ (1,341)	$ 15,121	$ (97)
Net Income (Loss), Diluted Earnings (Loss) Per Share	$ 7,113	$ (1,341)	$ 15,121	$ (97)
Basic Earnings (Loss) Per Share, Number of Shares	3,786	3,741	3,775	3,725
Stock Option and Restricted Stock Awards, Number of Shares	56		40
Diluted Earnings (Loss) Per Share, Number of Shares	3,842	3,741	3,815	3,725
Basic Earnings (Loss) Per Share	$ 1.88	$ (0.36)	$ 4.01	$ (0.03)
Diluted Earnings (Loss) Per Share	$ 1.85	$ (0.36)	$ 3.96	$ (0.03)

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details Textual) - shares	6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from earnings per share computation	41,200	163,749

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Textual) - USD ($) $ in Millions	6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation arrangement by share based payment award number of shares authorized	2,000,000
Shares of common stock available for grant	218,034
Options, granted	0	0
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options expires after date of grant	10 years
Employee Stock Option | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period after the date of grant	1 year
Employee Stock Option | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period after the date of grant	4 years
Restricted stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost related to unvested restricted stock grants	$ 1.2
Weighted average period over which unrecognized compensation is expected to be recognized	1 year
Restricted stock | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period after the date of grant	1 year
Restricted stock | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period after the date of grant	5 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity Under Our Stock Incentive Plan (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Dec. 27, 2020USD ($)$ / sharesshares
Share Based Compensation [Abstract]
Shares, Beginning Balance | shares	90,860
Shares, Ending Balance | shares	90,860
Shares, Exercisable | shares	90,860
Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 35.88
Weighted Average Exercise Price, Ending Balance | $ / shares	35.88
Weighted Average Exercise Price, Exercisable | $ / shares	$ 35.88
Weighted Average Remaining Contractual Term, Outstanding	1 year 10 months 24 days
Weighted Average Remaining Contractual Term, Exercisable, Outstanding	1 year 10 months 24 days
Aggregate Intrinsic Value, Outstanding | $	$ 1,665
Aggregate Intrinsic Value, Exercisable | $	$ 1,665

Stock-Based Compensation - Intr

Stock-Based Compensation - Intrinsic Value of Stock Options Exercised and the Fair Value of Stock Options Vested (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 29, 2019	Dec. 29, 2019
Intrinsic value of stock options exercised and the fair value of stock options vested
Intrinsic Value of Options Exercised	$ 83	$ 120

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Restricted Stock Activity Under Our Stock Incentive Plan (Details) - Restricted stock	6 Months Ended
	Dec. 27, 2020$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Nonvested, Shares Beginning Balance | shares	69,394
Granted, Shares | shares	48,300
Vested, Shares | shares	(34,669)
Nonvested, Shares Ending Balance | shares	83,025
Nonvested, Weighted Average Grant Date Fair Value Beginning Balance | $ / shares	$ 30.59
Granted, Weighted Average Grant Date Fair Value | $ / shares	21.20
Vested, Weighted Average Grant Date Fair Value | $ / shares	34.95
Nonvested, Weighted Average Grant Date Fair Value Ending Balance | $ / shares	$ 23.31

Pension and Postretirement Be_3

Pension and Postretirement Benefits (Details Textual) - USD ($)	3 Months Ended	6 Months Ended		12 Months Ended
	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019	Jun. 28, 2020	Jun. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Date the Board of Directors freeze benefit accruals and future eligibility under the Qualified Pension Plan		Dec. 31, 2009
Termination of Qualified Pension Plan, description		The Board of Directors subsequently approved to proceed with the termination of the Qualified Pension Plan. During the quarter ended December 30, 2018, we completed a substantial portion of terminating the Qualified Pension Plan. In connection with the termination of the Qualified Pension Plan, distributions from the Qualified Pension Plan trust were made during the three month period ended December 30, 2018 to participants who elected lump-sum distributions. Additionally, during the three months ended December 30, 2018, we entered into an agreement with an insurance company to purchase from us, through a series of annuity contracts, our remaining obligations under the Qualified Pension Plan and, as a result, we settled the remaining obligations under the plan for the remaining participants utilizing funds available in the Qualified Pension Plan trust.
Additional cash contributions to settle pension obligations		$ 0
Non-cash pre-tax settlement charge					$ 31,900,000
Non-cash compensation expense	$ 2,300,000		$ 4,473,000	$ 4,800,000	$ 4,200,000
Rabbi Trust Assets - SERP		3,300,000		$ 2,900,000
Postretirement plan annual benefit limit for future eligible retirees		$ 4,000
Other postretirement benefits maximum benefit period		5 years
Supplemental Employee Retirement Plan, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Percentage of participant's base salary received as Supplemental Retirement Benefits		8.00%
Vesting period, SERP		5 years

Pension and Postretirement Be_4

Pension and Postretirement Benefits - Summary of Net Periodic Benefit Cost Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019	Jun. 30, 2019
COMPONENTS OF NET PERIODIC BENEFIT COST:
Plan Settlements					$ 31,900
SERP Benefits
COMPONENTS OF NET PERIODIC BENEFIT COST:
Service Cost	$ 15	$ 18	$ 31	$ 37
Interest Cost	11	15	21	30
Amortization of Unrecognized Net Loss	2	3	5	7
Net Periodic Benefit Cost	28	36	57	74
Postretirement Benefits
COMPONENTS OF NET PERIODIC BENEFIT COST:
Service Cost	4	3	7	6
Interest Cost	4	7	8	13
Amortization of Prior Service Credit	(2)	(8)	(4)	(15)
Amortization of Unrecognized Net Loss	89	100	178	199
Net Periodic Benefit Cost	$ 95	$ 102	$ 189	$ 203

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Summary of Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 27, 2020	Dec. 29, 2019	Dec. 27, 2020	Dec. 29, 2019
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	$ (187,020)	$ (188,271)	$ (175,441)	$ (187,816)
Other Comprehensive Income Before Reclassifications	(4,417)	(1,634)	(6,116)	(186)
Net Other Comprehensive Income Before Reclassifications	(4,417)	(1,634)	(6,116)	(186)
Reclassifications:
Prior service credits	2	8	4	15
Unrecognized Net Loss	(91)	(103)	(183)	(206)
Total Reclassifications Before Tax	(89)	(95)	(179)	(191)
Reclassifications, Income Tax	20	22	40	45
Net Reclassifications	(69)	(73)	(139)	(146)
Other Comprehensive Income	(4,486)	(1,707)	(6,255)	(332)
Ending balance	(201,473)	(188,849)	(201,473)	(188,849)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	18,758	17,513	20,136	16,317
Other Comprehensive Income Before Reclassifications	(4,417)	(1,634)	(6,116)	(186)
Net Other Comprehensive Income Before Reclassifications	(4,417)	(1,634)	(6,116)	(186)
Reclassifications:
Other Comprehensive Income	(4,417)	(1,634)	(6,116)	(186)
Other Comprehensive Income Attributable to Non- Controlling Interest	(1,313)	(502)	(1,634)	(250)
Ending balance	15,654	16,381	15,654	16,381
Retirement and Postretirement Benefit Plans
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	1,907	2,178	1,977	2,251
Reclassifications:
Prior service credits	2	8	4	15
Unrecognized Net Loss	(91)	(103)	(183)	(206)
Total Reclassifications Before Tax	(89)	(95)	(179)	(191)
Reclassifications, Income Tax	20	22	40	45
Net Reclassifications	(69)	(73)	(139)	(146)
Other Comprehensive Income	(69)	(73)	(139)	(146)
Ending balance	1,838	2,105	1,838	2,105
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	20,665	19,691	22,113	18,568
Reclassifications:
Ending balance	17,492	18,486	17,492	18,486
AOCI Including Portion Attributable to Noncontrolling Interest
Reclassifications:
Other Comprehensive Income	(4,486)	(1,707)	(6,255)	(332)
AOCI Attributable to Noncontrolling Interest
Reclassifications:
Other Comprehensive Income Attributable to Non- Controlling Interest	$ (1,313)	$ (502)	$ (1,634)	$ (250)