Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Jun. 30, 2019	Aug. 02, 2019	Dec. 28, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	STRATTEC SECURITY CORP
Entity Central Index Key	0000933034
Document Type	10-K
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Trading Symbol	STRT
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 106,933,000
Entity Filer Category	Accelerated Filer
Entity Common Stock Shares Outstanding		3,755,027
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	0-25150
Entity Tax Identification Number	391804239
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

Consolidated Statements of (Loss) Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Income Statement [Abstract]
NET SALES	$ 487,006	$ 439,195
Cost of goods sold	429,206	384,752
GROSS PROFIT	57,800	54,443
Engineering, selling, and administrative expenses	47,186	41,168
INCOME FROM OPERATIONS	10,614	13,275
Interest income		8
Equity earnings of joint ventures	2,783	4,532
Interest expense	(1,615)	(1,137)
Pension termination settlement charge	(31,878)
Other (expense) income, net	(337)	1,020
(LOSS) INCOME BEFORE PROVISION FOR INCOME TAXES AND NON- CONTROLLING INTEREST	(20,433)	17,698
(Benefit) provision for income taxes	(7,740)	2,070
NET (LOSS) INCOME	(12,693)	15,628
Net income attributable to non-controlling interest	4,336	3,345
NET (LOSS) INCOME ATTRIBUTABLE TO STRATTEC SECURITY CORPORATION	(17,029)	12,283
COMPREHENSIVE INCOME:
NET (LOSS) INCOME	(12,693)	15,628
Currency translation adjustments, net of tax	(555)	(2,219)
Pension and postretirement plans, net of tax	19,861	602
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)	19,306	(1,617)
COMPREHENSIVE INCOME	6,613	14,011
Comprehensive income attributable to non-controlling interest	4,724	2,279
COMPREHENSIVE INCOME ATTRIBUTABLE TO STRATTEC SECURITY CORPORATION	$ 1,889	$ 11,732
(LOSS) EARNINGS PER SHARE ATTRIBUTABLE TO STRATTEC SECURITY CORPORATION:
Basic	$ (4.63)	$ 3.39
Diluted	$ (4.63)	$ 3.32
AVERAGE SHARES OUTSTANDING:
Basic	3,676	3,628
Diluted	3,676	3,703

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Jul. 01, 2018
CURRENT ASSETS:
Cash and cash equivalents	$ 7,809	$ 8,090
Receivables, less allowance for doubtful accounts of $500 at June 30, 2019 and July 1, 2018	84,230	73,832
Inventories, net	47,262	46,654
Customer tooling in progress, net	8,240	12,514
Income taxes recoverable	2,107	3,559
Other current assets	6,984	6,454
Total current assets	156,632	151,103
INVESTMENT IN JOINT VENTURES	23,528	22,192
DEFERRED INCOME TAXES	2,933
OTHER LONG-TERM ASSETS	11,523	17,338
PROPERTY, PLANT AND EQUIPMENT, NET	118,120	116,542
Total assets	312,736	307,175
CURRENT LIABILITIES:
Accounts payable	41,889	38,439
Accrued liabilities:
Payroll and benefits	17,339	13,393
Environmental	1,278	1,291
Warranty	7,900	7,800
Other	10,857	7,870
Total current liabilities	79,263	68,793
Commitments and Contingencies
BORROWINGS UNDER CREDIT FACILITIES	42,000	51,000
DEFERRED INCOME TAXES		961
ACCRUED PENSION OBLIGATIONS	1,663	1,553
ACCRUED POSTRETIREMENT OBLIGATIONS	762	826
OTHER LONG-TERM LIABILITIES	1,232	796
SHAREHOLDERS’ EQUITY:
Common stock, authorized 12,000,000 shares, $.01 par value, issued 7,304,994 shares at June 30, 2019 and 7,251,937 shares at July 1, 2018	73	73
Capital in excess of par value	96,491	95,140
Retained earnings	221,117	236,162
Accumulated other comprehensive loss	(18,568)	(33,439)
Less: Treasury stock at cost (3,613,439 shares at June 30, 2019 and 3,616,734 shares at July 1, 2018)	(135,725)	(135,778)
Total STRATTEC SECURITY CORPORATION shareholders’ equity	163,388	162,158
Non-controlling interest	24,428	21,088
Total shareholders’ equity	187,816	183,246
Total liabilities and shareholders' equity	$ 312,736	$ 307,175

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Jul. 01, 2018
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 500	$ 500
Common stock, shares authorized	12,000,000	12,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	7,304,994	7,251,937
Treasury stock, shares	3,613,439	3,616,734

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Non-controlling interest
Beginning balance at Jul. 02, 2017	$ 172,714	$ 72	$ 93,813	$ 225,913	$ (32,888)	$ (135,822)	$ 21,626
Net (loss) income	15,628			12,283			3,345
Currency translation adjustments	(2,219)				(1,153)		(1,066)
Pension and postretirement funded status adjustment, net of tax	602				602
Cash dividends declared ($0.56 and $0.56 per share for the twelve month period ended 2017 and 2018 respectively)	(2,034)			(2,034)
Cash dividends paid to non-controlling interests of subsidiaries	(2,817)						(2,817)
Stock-based compensation and shortfall tax Benefit	1,130		1,130
Stock option exercises	140	1	139
Employee stock purchases	102		58			44
Ending balance at Jul. 01, 2018	183,246	73	95,140	236,162	(33,439)	(135,778)	21,088
Net (loss) income	(12,693)			(17,029)			4,336
Currency translation adjustments	(555)				(943)		388
Pension and postretirement funded status adjustment, net of tax	19,861				19,861
Reclassification of stranded tax effects				4,047	(4,047)
Cash dividends declared ($0.56 and $0.56 per share for the twelve month period ended 2017 and 2018 respectively)	(2,063)			(2,063)
Cash dividends paid to non-controlling interests of subsidiaries	(1,384)						(1,384)
Stock-based compensation	1,133		1,133
Stock option exercises	172		172
Employee stock purchases	99		46			53
Ending balance at Jun. 30, 2019	$ 187,816	$ 73	$ 96,491	$ 221,117	$ (18,568)	$ (135,725)	$ 24,428

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$ (12,693)	$ 15,628
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Equity earnings of joint ventures	(2,783)	(4,532)
Depreciation and amortization	17,159	14,585
Foreign currency transaction loss (gain)	397	(549)
Unrealized (gain) loss on peso forward contracts	(39)	1,160
Loss (gain) on disposition of property, plant and equipment	106	(28)
Pension termination settlement charge	31,878
Non-cash compensation expense	4,195
Deferred income taxes	(10,122)	1,029
Stock based compensation expense	1,133	1,130
Change in operating assets and liabilities:
Receivables	(10,392)	(9,571)
Inventories	(608)	(11,178)
Other assets	5,855	(4,457)
Accounts payable and accrued liabilities	6,141	3,749
Other, net	(286)	(26)
Net cash provided by operating activities	29,941	6,940
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in joint ventures	(200)	(125)
Repayments from loan to joint ventures		300
Additions to property, plant and equipment	(17,453)	(24,134)
Proceeds received on sale of property, plant and equipment	53	41
Net cash used in investing activities	(17,600)	(23,918)
CASH FLOWS FROM FINANCING ACTIVITIES
Borrowings under credit facilities	5,000	24,000
Repayments under credit facilities	(14,000)	(3,000)
Exercise of stock options and employee stock purchases	271	242
Dividends paid to non-controlling interests of subsidiaries	(1,384)	(2,817)
Dividends paid	(2,063)	(2,034)
Net cash (used in) provided by financing activities	(12,176)	16,391
FOREIGN CURRENCY IMPACT ON CASH	(446)	316
NET DECREASE IN CASH AND CASH EQUIVALENTS	(281)	(271)
CASH AND CASH EQUIVALENTS
Beginning of year	8,090	8,361
End of year	7,809	8,090
Cash Paid During the Period For:
Income taxes	530	2,503
Interest	1,624	1,078
Non-Cash Investing Activities:
Change in capital expenditures in accounts payable	$ 467	$ (1,702)

Organization and Summary of Significant Accounting Policies

12 Months Ended

Jun. 30, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization and Summary of Significant Accounting Policies

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

STRATTEC SECURITY CORPORATION designs, develops, manufactures and markets automotive access control products including mechanical locks and keys, electronically enhanced locks and keys, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power lift gate systems, power deck lid systems, door handles and related products for primarily North American automotive customers. We also supply global automotive manufacturers through a unique strategic relationship with WITTE Automotive (“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. We also maintain a 51 percent interest in a joint venture, STRATTEC Advanced Logic, LLC (“SAL LLC”), which was established to introduce a new generation of commercial and residential biometric security products based on the designs of Actuator Systems, our partner and the owner of the remaining ownership interest. The business of SAL LLC has been wound down to sell only commercial biometric locks.

The accompanying 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 in Juarez and Leon, Mexico. Equity investments in Vehicle Access Systems Technology LLC (“VAST LLC”) and SAL LLC for which we exercise significant influence but do not control and are not the primary beneficiary, are accounted for using the equity method. VAST LLC consists primarily of four 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. SAL LLC is located in El Paso, Texas. We have only one reporting segment.

The significant accounting policies followed in the preparation of these financial statements, as summarized in the following paragraphs, are in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP).

Principles of Consolidation and Presentation: The accompanying consolidated financial statements include the accounts of STRATTEC SECURITY CORPORATION, its wholly owned Mexican subsidiary and its majority owned subsidiaries. Equity investments for which STRATTEC exercises significant influence but does not control and is not the primary beneficiary are accounted for using the equity method. All significant inter-company transactions and balances have been eliminated.

New Accounting Standards: In May 2014, the FASB issued an update to the accounting guidance for the recognition of revenue arising from contracts with customers. The update supersedes most current revenue recognition guidance and outlines a single comprehensive model for revenue recognition based on the principle that an entity should recognize revenue in an amount that reflects the expected consideration to be received in the exchange of goods and services. The guidance update also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. We implemented the new standard effective July 2, 2018, the first day of our 2019 fiscal year, using the modified retrospective approach to transition to the new standard. We assessed our revenue stream based upon the provisions of our customer contracts in effect on the July 2, 2018 effective date to determine the cumulative effect of initially applying the guidance. Based on our assessment, the adoption date financial statement impact was limited to a balance sheet reclassification required to establish the contract liability concept provided for in the guidance. As such, comparative financial information for reporting periods prior to July 2, 2018 has not been restated and continues to be reported in accordance with our revenue recognition policies prior to the adoption of the new guidance. Additionally, there was no cumulative effect adjustment required to be recorded to our retained earnings. The effect of the reclassification changes made to our July 2, 2018 Consolidated Balance Sheet increased Receivables, net by $1.2 million, with a corresponding increase to Accrued Liabilities: Other. Refer to the discussion of Revenue Recognition included in these Notes to Financial Statements.

In February 2016, the FASB issued an update to the accounting guidance for leases. The update increases the transparency and comparability among organizations by requiring lessees to recognize lease assets and lease liabilities on the balance sheet and to disclose key information about leasing arrangements. The guidance is effective for fiscal years beginning after December 15, 2018 and interim periods within those years. We expect the adoption of this guidance will result in the recording of one operating lease asset and lease liability of approximately $4.1 million as of July 1, 2019. Additionally, we expect no cumulative effect adjustment required to be recorded to our retained earnings.

In August 2016, the FASB issued an update to the accounting guidance on the classification of certain cash receipts and cash payments. The update aims to eliminate diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The guidance is effective for fiscal years beginning after December 15, 2017 and interim periods within those years. The adoption of this pronouncement did not have a material impact on our consolidated financial statements.

In August 2017, the FASB issued an update to the accounting for hedging activities. The new guidance eliminates the requirement to separately measure and report hedge ineffectiveness, due to a difference between the economic terms of the hedge instrument and the underlying transaction, and generally requires, for qualifying hedges, the entire change in the fair value of a hedging instrument to be presented in the same line as the hedged item in the consolidated statement of income. The standard also modifies the accounting for components excluded from the assessment of hedge effectiveness and simplifies the application of hedge accounting in certain situations. The guidance is effective for fiscal years beginning after December 15, 2018 and interim periods within those years. We do not expect that the adoption of this guidance will have a material impact on our consolidated financial statements.

In February 2018, the FASB issued guidance on the reclassification of certain tax effects from accumulated other comprehensive income. The guidance will permit entities to reclassify tax effects stranded in accumulated other comprehensive income as a result of U.S. tax reform to retained earnings. The guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within these fiscal years. We elected early adoption beginning effective December 30, 2018. The adoption of the guidance resulted in the reclassification of $4.0 million from accumulated other comprehensive income to retained earnings during the quarter ended December 30, 2018.

In June 2018, the FASB issued an update to the accounting for nonemployee share-based payment accounting. The update aligns measurement and classification guidance for share-based payments to nonemployees with the guidance applicable to employees. Under the new guidance, the measurement of equity-classified nonemployee awards will be fixed at the date of grant. The guidance is effective for fiscal years beginning after December 15, 2018 and interim periods within those years. We do not expect that the adoption of this guidance will have a material impact on our consolidated financial statements.

Fiscal Year: Our fiscal year ends on the Sunday nearest June 30. The years ended June 30, 2019 and July 1, 2018 are each comprised of 52 weeks.

Use of Estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses for the periods presented. These estimates and assumptions could also affect the disclosure of contingencies. Actual results and outcomes may differ from management’s estimates and assumptions.

Cash and Cash Equivalents: Cash and cash equivalents include all short-term investments with an original maturity of three months or less due to the short-term nature of the instruments. Excess cash balances are placed in short-term commercial paper.

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. During the years ended June 30, 2019 and July 1, 2018, 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 these currency forward contracts 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 are not used for speculative purposes and are not designated as hedges. As a result, all currency forward contracts are recognized in our accompanying consolidated financial statements at fair value and changes in the fair value are reported in current earnings as part of Other (Expense) Income, net. No Mexican peso forward contracts were outstanding as of June 30, 2019.

The fair market value of all outstanding Mexican peso forward contracts in the accompanying Consolidated Balance Sheets was as follows (thousands of dollars):

	June 30, 2019		July 1, 2018
Not designated as hedging instruments:
Other current liabilities:
Mexican peso forward contracts	$	—	$	39

The pre-tax effects of the Mexican peso forward contracts on the accompanying Consolidated Statements of (Loss) Income and Comprehensive Income consisted of the following (thousands of dollars):

	Other (Expense) Income, net
	Years Ended
	June 30, 2019		July 1, 2018
Not Designated as Hedging Instruments:
Realized gain	$	485	$	1,140
Unrealized gain (loss)	$	39	$	(1,160	)

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 their book value as of June 30, 2019 and July 1, 2018. 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 for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. There is an established fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable. Level 1 – Quoted prices in active markets for identical assets or liabilities. These are typically obtained from real-time quotes for transactions in active exchange markets involving identical assets. Level 2 – Inputs, other than quoted prices included within Level 1, which are observable for the asset or liability, either directly or indirectly. These are typically obtained from readily-available pricing sources for comparable instruments. Level 3 – Unobservable inputs, where there is little or no market activity for the asset or liability. These inputs reflect the reporting entity’s own assumptions of the data that market participants would use in pricing the asset or liability, based on the best information available in the circumstances. The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2019 and July 1, 2018 (thousands of dollars):

	June 30, 2019								July 1, 2018
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Rabbi Trust assets:
Stock index funds:
Small cap	$	276	$	—	$	—	$	276	$	298	$	—	$	—	$	298
Mid cap		293		—		—		293		286		—		—		286
Large cap		589		—		—		589		562		—		—		562
International		864		—		—		864		793		—		—		793
Fixed income funds		913		—		—		913		850		—		—		850
Cash and cash equivalents		—		3		—		3		—		3		—		3
Total assets at fair value	$	2,935	$	3	$	—	$	2,938	$	2,789	$	3	$	—	$	2,792

Liabilities:
Mexican peso forward contracts	$	—	$	—	$	—	$	—	$	—	$	39	$	-	$	39

The Rabbi Trust assets fund our supplemental executive retirement plan and are included in Other Long-Term Assets in the accompanying Consolidated Balance Sheets. Refer to discussion of Mexican peso forward contracts under Derivative Instruments above. The fair value of the Mexican peso forward contracts considers the remaining term, current exchange rate and interest rate differentials between the two currencies. There were no transfers between Level 1 and Level 2 assets during 2019 or 2018.

Receivables: Receivables consist primarily of trade receivables due from Original Equipment Manufacturers in the automotive industry and locksmith/dealership distributors relating to our service and aftermarket sales. We evaluate the collectability of receivables based on a number of factors. An allowance for doubtful accounts is recorded for significant past due receivable balances based on a review of the past due items, general economic conditions and the industry as a whole. The allowance for doubtful accounts totaled $500,000 at June 30, 2019 and July 1, 2018.

Inventories: Inventories are comprised of material, direct labor and manufacturing overhead, and are stated at net realizable value using the first-in, first-out (“FIFO”) cost method of accounting. Inventories consisted of the following (thousands of dollars):

	June 30, 2019			July 1, 2018
Finished products	$	11,582		$	13,410
Work in process		10,529			10,059
Purchased materials		29,376			27,185
		51,487			50,654
Excess and obsolete reserve		(4,225	)		(4,000	)
Inventories, net	$	47,262		$	46,654

We record a reserve for excess and obsolete inventory based on historical and estimated future demand and market conditions. The reserve level is determined by comparing inventory levels of individual materials and parts to historical usage and estimated future sales by analyzing the age of the inventory in order to identify specific materials and parts that are unlikely to be sold. Technical obsolescence and other known factors are also considered in evaluating the reserve level. The activity related to the excess and obsolete inventory reserve was as follows (thousands of dollars):

Balance,

Beginning

of Year

Provision

Charged to

Expense

Amounts

Written Off

Balance,

End of Year

Year ended June 30, 2019

4,000

799

574

4,225

Year ended July 1, 2018

4,510

1,002

1,512

4,000

Customer Tooling in Progress: We incur costs related to tooling used in component production and assembly. Costs for development of certain tooling, which will be directly reimbursed by the customer whose parts are produced from the tool, are accumulated on the balance sheet and are then billed to the customer. The accumulated costs are billed upon formal acceptance by the customer of products produced with the individual tool. Other tooling costs are not directly reimbursed by the customer. These costs are capitalized and amortized over the life of the related product based on the fact that the related tool will be used over the life of the supply arrangement. To the extent that estimated costs exceed expected reimbursement from the customer we recognize a loss.

Property, Plant and Equipment: Property, plant and equipment are stated at cost. Property, plant and equipment are depreciated on a straight-line basis over the estimated useful lives of the assets as follows:

Classification		Expected Useful Lives
Land improvements		20 years
Buildings and improvements		15 to 35 years
Machinery and equipment		3 to 15 years

Property, plant and equipment consisted of the following (thousands of dollars):

	June 30, 2019			July 1, 2018
Land and improvements	$	5,679		$	5,545
Buildings and improvements		35,742			34,483
Machinery and equipment		246,000			229,688
		287,421			269,716
Less: accumulated depreciation		(169,301	)		(153,174	)
	$	118,120		$	116,542

Depreciation expense was as follows for the periods indicated (thousands of dollars):

Fiscal Year

Depreciation

Expense

2019

17,159

2018

14,544

The gross and net book value of property, plant and equipment located outside of the United States, primarily in Mexico, were as follows (thousands of dollars):

	June 30, 2019		July 1, 2018
Gross book value	$	157,551	$	140,681
Net book value	$	80,922	$	74,364

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net undiscounted cash flows expected to be generated by the asset. If an asset is considered to be impaired, the impairment recognized is measured by the excess of the carrying amount of the asset over the fair value of the asset. Assets to be disposed of are reported at the lower of the carrying amount or fair value, less estimated costs to sell. There were no impairments recorded in the years ended June 30, 2019 or July 1, 2018.

Expenditures for repairs and maintenance are charged to expense as incurred. Expenditures for major renewals and betterments, which significantly extend the useful lives of existing plant and equipment, are capitalized and depreciated. Upon retirement or disposition of plant and equipment, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in income.

Supplier Concentrations: The following inventory purchases were made from major suppliers during each fiscal year noted:

Fiscal Year

Percentage of

Inventory

Purchases

Number of

Suppliers

2019

2018

We have long-term contracts or arrangements with most of our suppliers to guarantee the availability of raw materials and component parts.

Labor Concentrations: We had approximately 4,209 full-time associates of which approximately 250 or 5.9 percent were represented by a labor union at June 30, 2019. The associates represented by a labor union account for all production associates at our Milwaukee facility. The current contract with the unionized associates is effective through September 17, 2021.

Revenue Recognition: 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.

Revenue Recognition:

Our contracts with customers under long-term supply agreements do not commit the customer to a specified quantity of parts. However, we are generally required to fulfill our customers’ purchasing requirements for the production life of the vehicle. Contracts do not become a performance obligation until we receive either a purchase order and/or customer release for a specific number of parts at a specified price. While long-term supply agreements may range from four to six years for new vehicle production and ten to fifteen subsequent years for service parts production, contracts may be terminated by customers at any time. Historically, terminations have been minimal. Contracts may also provide for annual price reductions over the production life of the vehicle, and prices are adjusted on an ongoing basis to reflect changes in product content/cost and other commercial factors.

Revenue is recognized at a point in time when control of the parts produced are transferred to the customer according to the terms of the contract, which is usually when the parts are shipped or delivered to the customer’s premises. Customers are generally invoiced upon shipment or delivery and payment generally occurs within 45 to 90 days after the shipment date. The amount of revenue recognized reflects the consideration that we expect to be entitled to receive in exchange for those products based on purchase orders, annual price reductions and ongoing price adjustments, some of which are accounted for as variable consideration. We use the most likely amount method, the single most likely outcome of the contract, to estimate the amount to which we expect to be entitled. There were no significant changes to our estimates of variable consideration during the reporting periods referenced in our accompanying financial statements and significant changes to our estimates of variable consideration are not expected in future periods.

We do not have an enforceable right to payment at any time prior to when the parts are shipped or delivered to the customer. Therefore, we recognize revenue at the point in time we satisfy a performance obligation by transferring control of a part to a customer. Amounts billed to customers related to shipping and handling costs are included in Net Sales in the accompanying Consolidated Statements of (Loss) Income and Comprehensive Income. Shipping and handling costs are accounted for as fulfillment costs and are included in Cost of Goods Sold in the accompanying Consolidated Statements of (Loss) Income and Comprehensive Income.

Tooling and Pre-Production Engineering Costs Related to Long-Term Supply Arrangements:

We incur pre-production engineering and tooling costs related to the products produced for our customers under long-term supply agreements. Customer reimbursements for tooling and pre-production engineering activities that are part of a long-term supply arrangement are accounted for as a reduction of cost in accordance with ASC 340, Other Assets and Deferred Costs. Pre-production costs related to long-term supply agreements with a contractual guarantee for reimbursement are included in Other Current Assets in the accompanying Consolidated Balance Sheets. We expense all pre-production engineering costs for which reimbursement is not contractually guaranteed by the customer. All pre-production tooling costs related to customer-owned tools for which reimbursement is not contractually guaranteed by the customer or for which we do not have a non-cancelable right to use the tooling is also expensed when incurred.

Receivables, net:

Receivables, net include amounts billed and currently due from customers. We maintain an allowance for doubtful accounts to provide for estimated amounts of receivables not expected to be collected. We continually assess our receivables for collectability and any allowance is recorded based upon age of the outstanding receivables, historical payment experience, customer creditworthiness and general economic conditions.

Contract Balances:

We have no material contract assets as of June 30, 2019. 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. The activity related to contract liability balances during the year ended June 30, 2019 was as follows (thousands of dollars):

Balance, July 1, 2018	$	1,195
Discounts Recorded as a Reduction in Sales		1,858
Payments of Discounts to Customers		(1,654	)
Other		(467	)
Balance, June 30, 2019	$	932

Refer to Product Sales and Sales and Receivable Concentration included herein for revenue by product group and revenue by customer.

Research and Development Costs: Expenditures relating to the development of new products and processes, including significant improvements and refinements to existing products, are expensed as incurred. Research and development expenditures were approximately $13.8 million in 2019 and $4.8 million in 2018.

Other (Expense) Income, Net: Net other (expense) income included in the accompanying Consolidated Statements of (Loss) Income and Comprehensive Income primarily included foreign currency transaction gains and losses, realized and unrealized gains and losses on our Mexican peso currency forward contracts, the components of net periodic benefit cost other than the service cost component related to our pension and postretirement plans and Rabbi Trust gains. 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 during fiscal 2018 and 2019 to minimize earnings volatility resulting from changes in exchange rates affecting the U.S. dollar cost of our Mexican operations. The Rabbi Trust assets fund our amended and restated supplemental executive retirement plan. The investments held in the Trust are considered trading securities. The impact of these items for the periods presented was as follows (thousands of dollars):

	Years Ended
	June 30, 2019			July 1, 2018
Foreign currency transaction (loss) gain	$	(397	)	$	549
Rabbi Trust gain		146			193
Unrealized gain (loss) on Mexican peso forward contracts		39			(1,160	)
Realized gain on Mexican peso forward contracts		485			1,140
Pension and postretirement plans (cost) credit		(689	)		447
Other		79			(149	)
	$	(337	)	$	1,020

Warranty Reserve: We have a warranty liability recorded related to our known and potential exposure to warranty claims in the event our products fail to perform as expected, and in the event we may be required to participate in the repair costs incurred by our customers for such products. The recorded warranty liability balance involves judgment and estimates. Our liability estimate is based on an analysis of historical warranty data as well as current trends and information, including our customers’ recent extension and/or expansion of their warranty programs. In recent fiscal periods, our largest customers have extended their warranty protection for their vehicles and have since demanded higher warranty cost sharing arrangements from their suppliers in their terms and conditions to purchase, including from STRATTEC. The 2018 warranty provision included costs for various known or expected warranty issues as of July 1, 2018 for which amounts were reasonably estimable. As additional information becomes available, actual results may differ from recorded estimates, which may require us to adjust the amount of our warranty provision. Changes in the warranty reserve were as follows (thousands of dollars):

Balance,

Beginning

of Year

Provision

Charged

to Expense

Payments

Balance,

End of Year

Year ended June 30, 2019

7,800

559

459

7,900

Year ended July 1, 2018

5,550

2,617

367

7,800

Foreign Currency Translation: The financial statements of our foreign subsidiaries and equity investees are translated into U.S. dollars using the exchange rate at each balance sheet date for assets and liabilities and the average exchange rate for each applicable period for sales, costs and expenses. Foreign currency translation adjustments are included as a component of accumulated other comprehensive loss. Foreign currency transaction gains and losses are included in other (expense) income, net in the accompanying Consolidated Statements of (Loss) Income and Comprehensive Income.

Accumulated Other Comprehensive Loss: Accumulated other comprehensive loss (“AOCL”) was comprised of the following (thousands of dollars):

	June 30, 2019		July 1, 2018
Unrecognized pension and postretirement benefit liabilities, net of tax	$	2,251	$	18,148
Foreign currency translation, net of tax		16,317		15,291
	$	18,568	$	33,439

The following tables summarize the changes in AOCL for the years ended June 30, 2019 and July 1, 2018 (thousands of dollars):

	Year Ended June 30, 2019
	Foreign Currency Translation Adjustments			Retirement and Postretirement Plans			Total
Balance July 1, 2018	$	15,291		$	18,148		$	33,439
Other comprehensive loss before reclassifications		545			170			715
Income Tax		10			(40	)		(30	)
Net other comprehensive loss before Reclassifications		555			130			685
Reclassifications:
Pension termination settlements (A)		—			(25,668	)		(25,668	)
Prior service credits (A)		—			439			439
Actuarial gains (A)		—			(1,262	)		(1,262	)
Total reclassifications before tax		—			(26,491	)		(26,491	)
Income Tax		—			6,500			6,500
Net reclassifications		—			(19,991	)		(19,991	)
Other comprehensive loss (income)		555			(19,861	)		(19,306	)
Other comprehensive loss attributable
to non-controlling interest		(388	)		—			(388	)
Reclassification of stranded tax effects		83			3,964			4,047
Balance June 30, 2019	$	16,317		$	2,251		$	18,568

	Year ended July 1, 2018
	Foreign Currency Translation Adjustments			Retirement and Postretirement Plans			Total
Balance July 2, 2017	$	14,138		$	18,750		$	32,888
Other comprehensive loss before reclassifications		2,370			820			3,190
Income Tax		(151	)		(193	)		(344	)
Net other comprehensive loss before Reclassifications		2,219			627			2,846
Reclassifications:
Prior service credits (A)		—			752			752
Actuarial gains (A)		—			(2,514	)		(2,514	)
Total reclassifications before tax		—			(1,762	)		(1,762	)
Income Tax		—			533			533
Net reclassifications		—			(1,229	)		(1,229	)
Other comprehensive loss (income)		2,219			(602	)		1,617
Other comprehensive income attributable to non-controlling interest		1,066			—			1,066
Balance July 1, 2018	$	15,291		$	18,148		$	33,439

(A)

Amounts reclassified are included in the computation of net periodic benefit cost, which is included in Other (Expense) Income, net in the accompanying Consolidated Statements of (Loss) Income and Comprehensive Income. See Retirement Plans and Postretirement Costs note to these Notes to Financial Statements below.

Accounting For Stock-Based Compensation: We maintain an omnibus stock incentive plan. This plan provides for the granting of stock options, shares of restricted stock and stock appreciation rights. The Board of Directors has designated 1,850,000 shares of common stock available for the grant of awards under the plan. Remaining shares available to be granted under the plan as of June 30, 2019 were 149,289. Awards that expire or are cancelled 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 the stock incentive plan. Stock options granted under the plan may not be issued with an exercise price less than the fair market value of the common stock on the date the option is granted. Stock options become exercisable as determined at the date of grant by the Compensation Committee of our Board of Directors. The options expire 10 years after the grant date unless an earlier expiration date is set at the time of grant. The options vest 1 to 4 years after the date of grant. Shares of restricted stock granted under the plan are subject to vesting criteria determined by the Compensation Committee of our Board of Directors at the time the shares are granted and have a minimum vesting period of one year from the date of grant. Restricted shares granted prior to August 2014 have voting and dividend rights, regardless of whether the shares are vested or unvested. Restricted shares granted during August 2014 and thereafter 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 issued vest 1 to 5 years after the date of grant.

The fair value of each stock option grant was estimated as of the date of grant using the Black-Scholes pricing model. The resulting compensation cost for fixed awards with graded vesting schedules is amortized on a straight-line basis over the vesting period for the entire award. The expected term of awards granted is determined based on historical experience with similar awards, giving consideration to the contractual terms and vesting schedules. The expected volatility is determined based on our historical stock prices over the most recent period commensurate with the expected term of the award. The risk-free interest rate is based on U.S. Treasury zero-coupon issues with a remaining term commensurate with the expected term of the award. Expected pre-vesting option forfeitures are based primarily on historical data. The fair value of each restricted stock grant was based on the market price of the underlying common stock as of the date of grant. The resulting compensation cost is amortized on a straight line basis over the vesting period. We record stock based compensation only for those awards that are expected to vest.

All compensation cost related to stock options granted under the plan has been recognized as of June 30, 2019. Unrecognized compensation cost as of June 30, 2019 related to restricted stock granted under the plan was as follows (thousands of dollars):

Compensation

Cost

Weighted Average

Period over

which Cost is to be

Recognized

(in years)

Restricted stock granted

1,128

0.9

Unrecognized compensation cost will be adjusted for any future changes in estimated and actual forfeitures.

Cash received from stock option exercises and the related income tax benefit were as follows (thousands of dollars):

Fiscal Year

Cash Received

from

Stock Option

Exercises

Income Tax

Benefit

2019

172

2018

139

—

The intrinsic value of stock options exercised and the fair value of options vested were as follows (thousands of dollars):

	Years Ended
	June 30, 2019		July 1, 2018
Intrinsic value of options exercised	$	324	$	110
Fair value of stock options vested	$	—	$	315

No options were granted during the fiscal years ended June 30, 2019 or July 1, 2018.

The range of options outstanding as of June 30, 2019 was as follows:

	Number of Options Outstanding/ Exercisable	Weighted Average Exercise Price Outstanding/ Exercisable	Weighted Average Remaining Contractual Life Outstanding (In Years)
$17.59-$18.49	26,500/26,500	$18.00/$18.00	0.5
$26.53-$38.71	81,850/81,850	$31.06/$31.06	3.2
$79.73	9,010/9,010	$79.73/$79.73	5.1
		$31.85/$31.85

Income Taxes: Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases and operating loss carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and operating loss carry-forwards are expected to be recovered, settled or utilized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. We recognize the benefit of an income tax position only if it is more likely than not (greater than 50 percent) that the tax position will be sustained upon tax examination, based solely on the technical merits of the tax position. Otherwise, no benefit is recognized. The tax benefits recognized are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. Additionally, we accrue interest and related penalties, if applicable, on all tax exposures for which reserves have been established consistent with jurisdictional tax laws. Interest and penalties on uncertain tax positions are classified in the Provision for Income Taxes in the accompanying Consolidated Statements of (Loss) Income and Comprehensive Income.

Our income tax provision for 2018 was impacted by the Tax Cuts and Jobs Act of 2017 (“the Act”), which was signed into law on December 22, 2017 with an effective date of January 1, 2018. The Act makes broad and complex changes to the U.S. tax code that affected our fiscal year ending July 1, 2018, including but not limited to (1) a reduction in the U.S. statutory tax rate to 21 percent following its effective date and a change in the measurement of our deferred tax assets and deferred tax liabilities resulting from the reduction in the statutory rate, (2) requiring a one-time transition tax on certain deemed repatriated earnings of foreign subsidiaries that is payable over eight years, and (3) bonus depreciation that will allow for full expensing of qualified property. Section 15 of the Internal Revenue Code stipulates that for our fiscal year ending July 1, 2018, a blended statutory corporate tax rate of 28% was applicable, which is based on the applicable statutory tax rates before and after the Act and the number of days in our fiscal year.

The SEC staff issued SAB 118, which provides guidance on accounting for the tax effects of the Act. SAB 118 provides a measurement period that should not extend beyond one year from the Act’s enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Act is incomplete but it is still able to determine a reasonable estimate of the tax effect, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provision of the tax laws that were in effect immediately before the enactment of the Act.

In connection with our analysis of the impact of the Act, we recorded a discrete net tax benefit of approximately $3 million during 2018. This net tax benefit primarily consisted of (1) the impact of the change in measurement of our deferred tax assets and liabilities, which resulted in a favorable provision impact of $1.6 million, (2) the one-time transition tax on non-previously taxed post-1986 accumulated foreign earnings, which resulted in a net favorable impact of $500,000 and included a transition tax of $1.4 million offset by the reversal of net deferred tax liability balances totaling $1.9 million, which related to basis differences in foreign earnings, and (3) the impact of changing our annualized effective tax rate, which resulted in a favorable provision impact of $900,000. For various reasons that are discussed more fully below, we did not complete our accounting for the income tax effects for certain elements of the Act as of December 31, 2017. However, we were able to make reasonable estimates of certain effects and, therefore, we recorded provisional adjustments of these elements in the accompanying consolidated financial statements. We identified these items as provisional since our analysis of the items was not complete.

The Act reduced the corporate tax rate to 21 percent, effective January 1, 2018. For certain of our net deferred tax assets, we have recorded a provisional adjustment to reflect the reduction in the corporate tax rate. While we are able to make a reasonable estimate of the impact of the reduction in the corporate rate, it may be affected by other analyses related to the Act, including, but not limited to, the impact of our calculation of deemed repatriation of deferred foreign income and the impact of full expensing for certain assets.

The Deemed Repatriation Transition Tax (“Transition Tax”) is a tax on previously untaxed accumulated and current earnings and profits (E&P) of certain of our foreign subsidiaries. To determine the amount of the Transition Tax, we must determine, in addition to other factors, the amount of post-1986 E&P of the relevant subsidiaries, as well as the amount of non-U.S. income taxes paid on such earnings. We were able to make a reasonable estimate of the Transition Tax and recorded a provisional Transition Tax obligation in these consolidated financial statements. However, as of December 31, 2017, additional information needed to be gathered to more precisely compute the amount of the Transition Tax.

We were required to assess whether our valuation allowance analyses was affected by various aspects of the Act (e.g., deemed repatriation of deferred foreign income, Global Intangible Low-Taxed Income (“GILTI”) inclusions, and new categories of Foreign Tax Credits). Since, as discussed herein, we have recorded provisional amounts related to certain portions of the Act, any corresponding determination of the need for, or any change in, a valuation allowance was also provisional.

As of December 30, 2018, we had completed our accounting for all income tax elements of the Act. Measurement period adjustments related to the Act recorded in 2019 totaled $372,000.

Our income tax provision for 2019 was impacted by a $7.5 million tax benefit resulting from the termination of our qualified, noncontributory defined benefit pension plan as discussed under Retirement Plans and Postretirement Costs below and a reduction in the expected effective tax rate as compared to 2018. Our income tax provision for 2019 was also impacted by a discrete benefit of $372,000, which represents measurement period adjustments to the one-time transition tax on non-previously taxed post-1986 accumulated foreign earnings.

Additionally, our income tax provisions for 2019 and 2018 were affected by 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.

Investment in Joint Ventures and Majority Owned Subsidiaries

12 Months Ended

Jun. 30, 2019

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 equity interest, exists to seek opportunities to manufacture and sell each company’s products in areas of the world outside of North America and Europe.

VAST LLC has investments in Sistema de 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. anf 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 with 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 joint ventures resulted in equity earnings of joint ventures to STRATTEC of approximately $2.7 million during 2019 and approximately $4.4 million during 2018. During 2019 and 2018, capital contributions totaling $600,000 and $375,000, respectively, were made to VAST LLC for purposes of funding operations in Brazil. STRATTEC’s portion of the capital contributions totaled $200,000 in 2019 and $125,000 in 2018.

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 in 2019 and $1.8 million in 2018.

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 $2.5 million in 2019 and approximately $2.2 million in 2018.

SAL LLC was formed in fiscal 2013 to introduce a new generation of biometric security products based upon the designs of Actuator Systems LLC, our partner and the owner of the remaining ownership interest. SAL LLC was 51 percent owned by STRATTEC for all periods presented in this report. Our investment in SAL LLC, for which we exercise significant influence but do not control and are not the primary beneficiary, is accounted for using the equity method. The activities related to SAL LLC resulted in equity earnings of joint ventures to STRATTEC of approximately $128,000 in 2019 and equity earnings of joint ventures to STRATTEC of approximately $91,000 in 2018. During all periods presented in this report, 100 percent of the funding for SAL LLC was being made through loans from STRATTEC to SAL LLC. Therefore, for all periods presented in this report, even though STRATTEC maintains a 51 percent ownership interest in SAL LLC, STRATTEC recognized 100 percent of the losses of SAL LLC up to our committed financial support through Equity Earnings of Joint Ventures in the accompanying Consolidated Statements of (Loss) Income and Comprehensive Income.

During fiscal 2018, we, along with our joint venture partner, reduced operating the business of SAL LLC to winding down and selling only commercial biometric locks.

STRATTEC’s joint venture investments are included in the accompanying Consolidated Balance Sheets as follows (thousands of dollars):

	June 30, 2019		July 1, 2018
Investment in Joint Ventures:
Investment in VAST LLC	$	23,528	$	22,192
Other Current Liabilities:
Investment in SAL LLC	$	328	$	458

See further discussion under Equity Earnings of Joint Ventures included in Notes to Financial Statements herein.

Equity Earnings of Joint Ventures

12 Months Ended

Jun. 30, 2019

Equity Method Investments And Joint Ventures [Abstract]

Equity Earnings of Joint Ventures

EQUITY EARNINGS OF JOINT VENTURES

As discussed above under the note Investment in Joint Ventures and Majority Owned Subsidiaries, we hold a one-third ownership interest in VAST LLC, for which we exercise significant influence but do not control and are not the primary beneficiary. Our investment in VAST LLC is accounted for using the equity method. The results of the VAST LLC foreign subsidiaries and joint venture are reported on a one-month lag basis. The following are summarized statements of operations and summarized balance sheet data for VAST LLC (thousands of dollars):

	Years Ended
	June 30, 2019		July 1, 2018
Net sales	$	161,660	$	174,896
Cost of goods sold		128,375		134,185
Gross profit		33,285		40,711
Engineering, selling and administrative expense		27,624		26,450
Income from operations		5,661		14,261
Other income, net		3,559		1,757
Income before provision for income taxes		9,220		16,018
Provision for income taxes		1,292		2,632
Net income	$	7,928	$	13,386
STRATTEC’s share of VAST LLC net
income	$	2,643	$	4,463
Intercompany profit eliminations		12		(22	)
STRATTEC’s equity earnings of VAST LLC	$	2,655	$	4,441

	June 30, 2019		July 1, 2018
Cash and cash equivalents	$	6,854	$	8,959
Receivables, net		35,639		43,930
Inventories, net		20,465		20,510
Other current assets		19,701		16,020
Total current assets		82,659		89,419
Property, plant and equipment, net		49,953		42,923
Other long-term assets		16,868		14,974
Total assets	$	149,480	$	147,316
Current debt	$	7,240	$	8,580
Other current liabilities		63,799		66,140
Long-term debt		5,015		5,143
Other long-term liabilities		2,512		512
Total liabilities	$	78,566	$	80,375
Net assets	$	70,914	$	66,941
STRATTEC’s share of VAST LLC net assets	$	23,638	$	22,314

As discussed above under the note Investment in Joint Ventures and Majority Owned Subsidiaries, we hold a 51 percent ownership interest in a joint venture company, SAL LLC, which was established to introduce a new generation of commercial and residential biometric security products based on the designs of Actuator Systems, our partner and the owner of the remaining ownership interest. During fiscal 2018, we, along with our joint venture partner, reduced operating the business of SAL LLC to winding down and selling only commercial biometric locks. SAL LLC is considered a variable interest entity based on the STRATTEC guarantee and additional loans from STRATTEC as discussed below. STRATTEC is not the primary beneficiary and does not control the entity. Accordingly, our investment in SAL LLC is accounted for using the equity method.

SAL LLC maintained a license agreement with Westinghouse allowing SAL LLC to do business as Westinghouse Security. This license agreement expired August 16, 2018. Payments due to Westinghouse under the license agreement were guaranteed by STRATTEC. STRATTEC made a payment to Westinghouse of $250,000 on this guarantee during 2018. STRATTEC’s proportionate share of the guarantee of this payment based on our ownership percentage in SAL LLC totaled $127,000, and accordingly, our investment in SAL LLC was increased by this amount as of July 1, 2018.

Loans were made from STRATTEC to SAL LLC in support of operating expenses and working capital needs. The outstanding loan amount totaled $2.6 million as of June 30, 2019 and July 1, 2018 and was eliminated against STRATTEC’s negative Investment in SAL LLC in the preparation of the consolidated financial statements.

Even though we maintain a 51 percent ownership interest in SAL LLC, effective with our fiscal 2015 fourth quarter, 100 percent of the funding for SAL LLC was being made by loans from STRATTEC to SAL LLC. Therefore, STRATTEC began recognizing 100 percent of the losses of SAL LLC up to our committed financial support through Equity Earnings of Joint Ventures in the accompanying Consolidated Statements of (Loss) Income and Comprehensive Income effective with our fiscal 2015 fourth quarter.

We have sales of component parts to VAST LLC and SAL LLC, purchases of component parts from VAST LLC, expenses charged to VAST LLC for engineering and accounting services and expenses charged from VAST LLC to STRATTEC for general headquarter expenses. The following tables summarize the related party transactions with VAST LLC and SAL LLC for the periods indicated (thousands of dollars):

	Years Ended
	June 30, 2019		July 1, 2018
Sales to VAST LLC	$	3,731	$	3,151
Sales to SAL LLC	$	34	$	98
Purchases from VAST LLC	$	221	$	183
Expenses charged to VAST LLC	$	1,594	$	984
Expenses charged from VAST LLC	$	834	$	886

	June 30, 2019		July 1, 2018
Accounts receivable from VAST LLC	$	264	$	53
Accounts receivable from SAL LLC ^(A)	$	—	$	—
Current loan receivable from SAL LLC^(A)	$	—	$	—
Accounts payable to VAST LLC	$	127	$	87

^(A)

^{As of June 30, 2019, outstanding loan and accounts receivable balances due from SAL LLC to STRATTEC totaled $2.6 million and $82,000, respectively. As of July 1, 2018, outstanding loan and accounts receivable balances due from SAL LLC to STRATTEC totaled $2.6 million and $82,000, respectively. As of June 30, 2019 and July 1, 2018, these outstanding balances have been offset against our investment in SAL LLC, which is included in Other Current Liabilities in the Consolidated Balance Sheet.}

Credit Facilities

12 Months Ended

Jun. 30, 2019

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 $30 million secured revolving credit facility (the “ADAC-STRATTEC Credit Facility”) with BMO Harris Bank N.A., which is guaranteed by STRATTEC. The ADAC-STRATTEC Credit Facility borrowing limit decreased to $25 million effective July 1, 2019. The credit facilities both expire on August 1, 2021. Interest on borrowings under the STRATTEC Credit Facility and interest on borrowings under the ADAC-STRATTEC Credit Facility prior to December 31, 2018 were at varying rates based, at our option, on the London Interbank Offering Rate (“LIBOR”) plus 1.0 percent or the bank’s prime rate. Effective December 31 2018, and thereafter, 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 June 30, 2019, we were in compliance with all financial covenants required by these credit facilities.

Outstanding borrowings under the credit facilities referenced in the above paragraph as of the end of 2019 and 2018 were as follows (thousands of dollars):

	June 30, 2019		July 1, 2018
STRATTEC Credit Facility	$	18,000	$	23,000
ADAC-STRATTEC Credit Facility		24,000		28,000
	$	42,000	$	51,000

Average outstanding borrowings and the weighted average interest rate under each such credit facility during 2019 and 2018 were as follows (thousands of dollars):

	Average Outstanding Borrowings				Weighted Average Interest Rate
	Years Ended				Years Ended
	June 30, 2019		July 1, 2018		June 30, 2019			July 1, 2018
STRATTEC Credit Facility	$	21,212	$	21,668		3.3	%		2.5	%
ADAC-STRATTEC Credit Facility	$	25,901	$	22,621		3.4	%		2.5	%

We believe that the credit facilities referenced above are adequate, along with existing cash balances and cash flow from operations, to meet our anticipated capital expenditure, working capital, dividend and operating expenditure requirements.

Commitments and Contingencies

12 Months Ended

Jun. 30, 2019

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 the consolidated financial position, results of operations or cash flows of STRATTEC. With respect to warranty matters, although we cannot ensure that the future costs of warranty claims by customers will not be material, we believe our established reserves are adequate to cover potential warranty settlements.

We have a reserve for estimated costs to remediate an environmental contamination site at our Milwaukee facility. The site was contaminated by a solvent spill, which occurred in 1985, from a former above ground solvent storage tank located on the east side of the facility. The reserve was initially established in 1995. Due to changing technology and related costs associated with active remediation of the site, 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, STRATTEC obtained updated third party estimates for adequately covering the cost of active remediation of this contamination. Based upon the updated estimates, no further adjustment to the reserve was required. From 1995 through June 30, 2019, costs of approximately $597,000 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 groundwater monitoring wells that are installed on the property. 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, we may be able to obtain a closure letter from the regulatory authorities resolving the issue without the need for active remediation. If a sufficient degree and trend toward natural attenuation is not evidenced by sampling, a more active form of remediation beyond natural attenuation may be required. The sampling has not yet satisfied all of the requirements for closure by natural attenuation. As a result, sampling continues and the reserve remains at an amount to reflect the estimated cost of active remediation. The reserve is not measured on a discounted basis. We believe, based on findings-to-date and known environmental regulations, that the environmental reserve of $1.3 million at June 30, 2019, is adequate.

At June 30, 2019, we had purchase commitments related to zinc, other purchased parts and natural gas. We also had minimum rental commitments under non-cancelable operating leases with a term in excess of one year. The purchase and minimum rental commitments are payable as follows (thousands of dollars):

	Purchase		Minimum Rental
Fiscal Year	Commitments		Commitments
2020	$	8,936	$	539
2021	$	4,945	$	504
2022	$	3,358	$	495
2023	$	—	$	498
2024-2025	$	—	$	168

Rental expense under all non-cancelable operating leases was as follows (thousands of dollars):

Fiscal Year	Rental Expense
2019	$	773
2018	$	731

Income Taxes

12 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The provision for income taxes consisted of the following (thousands of dollars):

	Years Ended
	June 30, 2019			July 1, 2018
Currently payable:
Federal	$	705		$	156
State		162			73
Foreign		1,515			812
		2,382			1,041
Deferred tax provision		(10,122	)		1,029
	$	(7,740	)	$	2,070

The items accounting for the difference between income taxes computed at the Federal statutory tax rate and the provision for income taxes were as follows:

	Years Ended
	June 30, 2019			July 1, 2018
U.S. statutory rate		21.0	%		28.0	%
State taxes, net of Federal tax benefit		3.7			1.6
Foreign subsidiaries		(1.8	)		(0.7	)
U.S. tax reform: transition tax		2.7			(3.0	)
U.S. tax reform: change in deferred rate		—			(9.3	)
Research and development tax credit		9.4			(2.5	)
Non-controlling interest		6.7			(5.6	)
Uncertain tax positions		(2.3	)		2.1
Stock based compensation		(0.7	)		1.7
Other		(0.8	)		(0.6	)
		37.9	%		11.7	%

The components of deferred tax (liabilities) assets were as follows (thousands of dollars):

	June 30, 2019			July 1, 2018
Unrecognized pension and postretirement benefit plan liabilities	$	701		$	6,887
Accrued warranty		446			517
Payroll-related accruals		2,180			1,959
Stock-based compensation		470			727
Inventory reserve		834			799
Environmental reserve		300			303
Repair and maintenance supply parts reserve		229			212
Allowance for doubtful accounts		118			118
Credit carry-forwards		1,990			248
Postretirement obligations		(416	)		(375	)
Accumulated depreciation		(5,023	)		(4,902	)
Accrued pension obligations		(1,578	)		(9,235	)
Non-cash compensation expense		986			—
Joint ventures		968			814
Other		728			967
	$	2,933		$	(961	)

Deferred income tax balances reflect the effects of temporary differences between the carrying amounts of assets and liabilities and their tax basis and are stated at enacted tax rates expected to be in effect when taxes are actually paid or recovered.

Federal credit carry-forwards at June 30, 2019 resulted in future benefits of approximately $1.8 million and expire between 2033 and 2034. We currently anticipate having sufficient Federal taxable income to offset these credit carry-forwards. State credit carry-forwards at June 30, 2019 resulted in future benefits of approximately $199,000 and expire at varying times between 2025 and 2034. A valuation allowance of $120,000 has been recorded as of June 30, 2019, due to our assessment of the future realization of certain credit carry-forward benefits. We do not currently anticipate having sufficient state taxable income to offset these credit carry-forwards.

Foreign income before the provision for income taxes was $4.0 million in 2019 and $1.1 million in 2018.

The total liability for unrecognized tax benefits was $1.2 million as of June 30, 2019 and $796,000 as of July 1, 2018 and was included in Other Long-term Liabilities in the accompanying Consolidated Balance Sheets. This liability includes approximately $1.1 million of unrecognized tax benefits at June 30, 2019 and $741,000 at July 1, 2018 and approximately $93,000 of accrued interest at June 30, 2019 and $55,000 at July 1, 2018. This liability does not include an amount for accrued penalties. The amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was approximately $854,000 at June 30, 2019 and $375,000 at July 1, 2018. We recognize interest and penalties related to unrecognized tax benefits in the provision for income taxes.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows for the years ended June 30, 2019 and July 1, 2018 (thousands of dollars):

	Years Ended
	June 30, 2019			July 1, 2018
Unrecognized tax benefits, beginning of year	$	741		$	571
Gross increases – tax positions in prior years		229			101
Gross increases – current period tax positions		238			126
Tax years closed		(70	)		(57	)
Unrecognized tax benefits, end of year	$	1,138		$	741

We or one of our subsidiaries files income tax returns in the United States (Federal), Wisconsin (state), Michigan (state) and various other states, Mexico and other foreign jurisdictions. We are currently subject to a Wisconsin income tax examination for fiscal 2014 through 2017. Tax years open to examination by tax authorities under the statute of limitations include fiscal 2016 through 2019 for Federal, fiscal 2015 through 2019 for most states and calendar 2014 through 2018 for foreign jurisdictions.

Retirement Plans and Postretirement Costs

12 Months Ended

Jun. 30, 2019

Compensation And Retirement Disclosure [Abstract]

Retirement Plans and Postretirement Costs

RETIREMENT PLANS AND POSTRETIREMENT COSTS

We have 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 has 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. It is expected that an additional $4.3 million in non-cash compensation expense will be recorded in the six month period ending December 2019 related to this future transfer and pay-out of the excess Qualified Pension Plan assets.

We have historically had in place a noncontributory supplemental executive retirement plan (“SERP”), which prior to January 1, 2014 was a nonqualified defined benefit plan that essentially mirrored the Qualified Pension Plan, but provided benefits in excess of certain limits placed on our Qualified Pension Plan by the Internal Revenue Code. As noted above, we froze our Qualified Pension Plan effective as of December 31, 2009 and the SERP provided benefits to participants as if the Qualified Pension Plan had not been frozen. Because the Qualified Pension Plan was frozen and because new employees were not eligible to participate in the Qualified Pension Plan, our Board of Directors adopted amendments to the SERP on October 8, 2013 that were effective as of December 31, 2013 to simplify the SERP calculation. The SERP is funded through a Rabbi Trust with BMO Harris Bank N.A. Under the amended SERP, participants received an accrued lump-sum benefit as of December 31, 2013 which was credited to each participant’s account. 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 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 $2.9 million at June 30, 2019 and $2.8 million at July 1, 2018, and are included in Other Long-Term Assets in the accompanying Consolidated Balance Sheets. The projected benefit obligation under the amended SERP was $2.2 million at June 30, 2019 and $1.9 million at July 1, 2018. The SERP liabilities are included in the pension tables below. However, the Rabbi Trust assets are excluded from the tables as they do not qualify as plan assets.

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.

Amounts included in accumulated other comprehensive loss, net of tax, at June 30, 2019, which have not yet been recognized in net periodic benefit cost were as follows (thousands of dollars):

	SERP		Postretirement
Prior service credit	$	—	$	(28	)
Net actuarial loss		225		2,054
	$	225	$	2,026

Prior service cost (credit) and unrecognized net actuarial losses included in accumulated other comprehensive loss at June 30, 2019 which are expected to be recognized in net periodic benefit cost (credit) in fiscal 2020, net of tax, for the pension, SERP and postretirement plans are as follows (thousands of dollars):

	SERP		Postretirement
Prior service credit	$	—	$	(22	)
Net actuarial loss		9		304
	$	9	$	282

The following tables summarize the pension, SERP and postretirement plans’ income and expense, funded status and actuarial assumptions for the years indicated (thousands of dollars). We use a June 30 measurement date for our pension and postretirement plans.

	Pension and SERP Benefits						Postretirement Benefits
	Years Ended						Years Ended
	June 30, 2019			July 1, 2018			June 30, 2019			July 1, 2018
COMPONENTS OF NET PERIODIC BENEFIT COST (CREDIT):
Service cost	$	62		$	66		$	11		$	13
Interest cost		2,101			3,857			40			45
Expected return on plan assets		(2,275	)		(6,111	)		—			—
Plan settlements		31,878			—			—			—
Amortization of prior service cost (credit)		—			12			(439	)		(764	)
Amortization of unrecognized net loss		831			2,035			431			479
Net periodic benefit cost (credit)	$	32,597		$	(141	)	$	43		$	(227	)

	Pension and SERP Benefits						Postretirement Benefits
	2019			2018			2019			2018
WEIGHTED-AVERAGE ASSUMPTIONS:
Benefit Obligations:
Discount rate		3.17	%		4.30	%		3.17	%		4.30	%
Rate of compensation increases – SERP		3.0	%		3.0	%	n/a			n/a
Net Periodic Benefit Cost:
Discount rate		4.30	%		3.91	%		4.30	%		3.91	%
Expected return on plan assets	n/a				5.45	%	n/a			n/a
Rate of compensation increases – SERP		3.0	%		3.0	%	n/a			n/a
CHANGE IN PROJECTED BENEFIT OBLIGATION:
Benefit obligation at beginning of year	$	98,835		$	101,266		$	1,041		$	1,268
Service cost		62			66			11			13
Interest cost		2,101			3,857			40			45
Plan settlements		(72,400	)		—			—			—
Actuarial gain		5,143			(1,392	)		39			(8	)
Benefits paid		(31,512	)		(4,962	)		(217	)		(277	)
Benefit obligation at end of year	$	2,229		$	98,835		$	914		$	1,041
CHANGE IN PLAN ASSETS:
Fair value of plan assets at beginning of year	$	111,466		$	112,524		$	—		$	—
Actual return on plan assets		1,077			3,890			—			—
Employer contribution		14			14			217			277
Plan settlements		(72,400	)		—			—			—
Benefits paid		(31,512	)		(4,962	)		(217	)		(277	)
Fair value of plan assets at end of year	$	8,645		$	111,466		$	—		$	—
Funded status – prepaid (accrued) benefit obligations	$	6,416		$	12,631		$	(914	)	$	(1,041	)
AMOUNTS RECOGNIZED IN CONSOLIDATED BALANCE SHEETS:
Other long-term assets	$	8,585		$	14,547		$	—		$	—
Accrued payroll and benefits (current liabilities)		(506	)		(363	)		(152	)		(215	)
Accrued benefit obligations (long-term liabilities)		(1,663	)		(1,553	)		(762	)		(826	)
Net amount recognized	$	6,416		$	12,631		$	(914	)	$	(1,041	)

	Pension and SERP Benefits								Postretirement Benefits
	2019				2018				2019				2018
CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OTHER COMPREHENSIVE INCOME:
Net periodic benefit (credit) cost	$	32,597		$		(141	)	$		43		$		(227	)
Net actuarial loss (gain)		(57,414	)			828				39				(8	)
Plan settlements		31,878				—				—				—
Amortization of prior service (cost) credits		—				(12	)			439				764
Amortization of unrecognized net loss		(831	)			(2,035	)			(431	)			(479	)
Total recognized in other comprehensive (income) loss, before tax		(26,367	)			(1,219	)			47				277
Total recognized in net periodic benefit cost and other comprehensive (income) loss, before tax	$	6,230		$		(1,360	)	$		90		$		50

The pension benefits have a separately determined accumulated benefit obligation, which is the actuarial present value of benefits based on service rendered and current and past compensation levels. This differs from the projected benefit obligation in that it includes no assumptions about future compensation levels. The following table summarizes the accumulated benefit obligations and projected benefit obligations for the pension and SERP (thousands of dollars):

	Pension				SERP
	June 30, 2019		July 1, 2018		June 30, 2019		July 1, 2018
Accumulated benefit obligation	$	60	$	96,919	$	1,981	$	1,749
Projected benefit obligation	$	60	$	96,919	$	2,169	$	1,916

For measurement purposes as it pertains to the estimated obligation associated with retirees prior to January 1, 2010, a 7.1 percent annual rate increase in the per capita cost of covered health care benefits was assumed for fiscal 2020; the rate was assumed to decrease gradually to 3.0 percent by the year 2025 and remain at that level thereafter.

The health care cost trend assumption has a minimal effect on our postretirement benefit amounts reported. A 1% change in the health care cost trend rates would have the following effects (thousands of dollars):

1% Increase

1% Decrease

Effect on total of service and interest cost components

in fiscal 2019

—

Effect on postretirement benefit obligation as of

June 30, 2019

)

The pension plan weighted-average asset allocations by asset category were as follows for 2019 and 2018:

	Target Allocation			June 30, 2019			July 1, 2018
Equity investments	0-50%				0	%		13	%
Fixed-income investments / cash	50-100				100			87
Total		100	%		100	%		100	%

The following is a summary, by asset category, of the fair value of pension plan assets at the June 30, 2019 and June 30, 2018 measurement dates (thousands of dollars):

	June 30, 2019								June 30, 2018
Asset Category	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	—	$	8,645	$	—	$	8,645	$	—	$	7,617	$	—	$	7,617
Equity securities/funds:
Small cap		—		—		—		—		—		—		—		—
Mid cap		—		—		—		—		4,953		—		—		4,953
Large cap		—		—		—		—		4,945		—		—		4,945
International		—		—		—		—		4,443		—		—		4,443
Fixed income: Bond funds/bonds		—		—		—		—		—		89,508		—		89,508
Total	$	—	$	8,645	$	—	$	8,645	$	14,341	$	97,125	$	—	$	111,466

There were no transfers in or out of Level 3 investments during the measurement year ended June 30, 2019.

We expect to contribute $509,000 to our SERP and $152,000 to our postretirement health care plan in fiscal 2020. The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid during the fiscal years noted below (thousands of dollars):

	SERP Benefits		Postretirement Benefits
2020	$	569	$	152
2021	$	510	$	135
2022	$	403	$	127
2023	$	14	$	108
2024	$	14	$	93
2025-2029	$	550	$	221

All U.S. associates may participate in our 401(k) Plan. We contribute 100 percent up to the first 5 percent of eligible compensation that a participant contributes to the plan. Our contributions to the 401(k) Plan were as follows (thousands of dollars):

	Years Ended
	June 30, 2019		July 1, 2018
Company contributions	$	1,903	$	1,793

(Loss) Earnings Per Share (''EPS'')

12 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

(Loss) Earnings Per Share (''EPS'')

(LOSS) EARNINGS PER SHARE (“EPS”)

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

	Years Ended
	June 30, 2019			July 1, 2018
Net (loss) income attributable to STRATTEC	$	(17,029	)	$	12,283

Weighted average shares of common stock outstanding		3,676			3,628
Incremental shares – stock based compensation		—			75
Diluted weighted average shares of common stock Outstanding		3,676			3,703
Basic earnings per share	$	(4.63	)	$	3.39
Diluted earnings per share	$	(4.63	)	$	3.32

Options to purchase shares of common stock that were excluded from the calculation of diluted earnings per share because their inclusion would have been antidilutive were as follows:

Years Ended

Number of Options

Excluded

June 30, 2019

181,117

July 1, 2018

41,200

Stock Option and Purchase Plans

12 Months Ended

Jun. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Option and Purchase Plans

STOCK OPTION AND PURCHASE PLANS

A summary of stock option activity under our stock incentive plan was as follows:

				Weighted Average		Weighted Average Remaining Contractual		Aggregate Intrinsic Value
	Shares			Exercise Price		Term (in years)		(in thousands)
Balance at July 2, 2017		138,508		$	29.23
Exercised		(5,434	)	$	25.64
Balance at July 1, 2018		133,074		$	29.37
Exercised		(15,714	)	$	10.92
Balance at June 30, 2019		117,360		$	31.85		2.7	$	162
Exercisable as of:
June 30, 2019		117,360		$	31.85		2.7	$	162
July 1, 2018		133,074		$	29.37		3.4	$	862

No options were granted during fiscal 2019 or 2018.

A summary of restricted stock activity under our stock incentive plan was as follows:

				Weighted Average
				Grant Date
	Shares			Fair Value
Nonvested Balance at July 2, 2017		75,850		$	60.61
Granted		27,950		$	33.30
Vested		(30,400	)	$	62.99
Forfeited		(4,275	)	$	52.47
Nonvested Balance at July 1, 2018		69,125		$	49.02
Granted		34,050		$	37.25
Vested		(37,343	)	$	54.93
Forfeited		(2,075	)	$	43.52
Nonvested Balance at June 30, 2019		63,757		$	39.47

We have an Employee Stock Purchase Plan to provide substantially all U.S. full-time associates an opportunity to purchase shares of STRATTEC common stock through payroll deductions. A participant may contribute a maximum of $5,200 per calendar year to the plan. On the last day of each month or if such date is not a trading day on the most recent previous trading day, participant account balances are used to purchase shares of our common stock at the average of the highest and lowest reported sales prices of a share of STRATTEC common stock on the NASDAQ Global Market on such date. A total of 100,000 shares may be issued under the

plan. Shares issued from treasury stock under the plan totaled 3,295 at an average price of $30.13 during 2019 and 2,753 at an average price of $37.06 during 2018. A total of 58,117 shares remain available for purchase under the plan as of June 30, 2019.

Export Sales

12 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Export Sales

EXPORT SALES

Total export sales, sales from the United States to locations outside of the United States, are summarized as follows (thousands of dollars and percent of total net sales):

	Years Ended
	June 30, 2019			July 1, 2018
	Net Sales		%	Net Sales		%
Export sales	$	160,771	33%	$	157,862	36%

Countries for which customer sales account for ten percent or more of total net sales are summarized as follows (thousands of dollars and percent of total net sales):

	Years Ended
	June 30, 2019			July 1, 2018
	Net Sales		%	Net Sales		%
Export sales into Canada	$	67,516	14%	$	70,920	16%

Product Sales

12 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Product Sales

PRODUCT SALES

Sales by product group were as follows (thousands of dollars and percent of total net sales):

	Years Ended
	June 30, 2019					July 1, 2018
	Net Sales		%			Net Sales		%
Keys & locksets	$	135,413		28	%	$	118,256		27	%
Door handles & exterior trim		116,977		24			88,788		20
Power access		92,744		19			86,380		20
Latches		49,147		10			42,381		9
Aftermarket & OE service		44,254		9			43,311		10
Driver controls		40,942		8			51,817		12
Other		7,529		2			8,262		2
	$	487,006		100	%	$	439,195		100	%

Sales and Receivable Concentration

12 Months Ended

Jun. 30, 2019

Segment Reporting Information Receivable [Abstract]

Sales and Receivable Concentration

SALES AND RECEIVABLE CONCENTRATION

Sales to our largest customers were as follows (thousands of dollars and percent of total net sales):

	Years Ended
	June 30, 2019					July 1, 2018
	Net Sales		%			Net Sales		%
Fiat Chrysler Automobiles	$	115,304		24	%	$	110,650		25	%
General Motors Company		112,719		23			85,827		20
Ford Motor Company		63,333		13			64,427		14
	$	291,356		60	%	$	260,904		59	%

Receivables from our largest customers were as follows (thousands of dollars and percent of gross receivables):

	June 30, 2019					July 1, 2018
	Receivables		%			Receivables		%
Fiat Chrysler Automobiles	$	19,151		23	%	$	19,908		27	%
General Motors Company		12,754		15			16,366		22
Ford Motor Company		9,991		12			7,537		10
	$	41,896		50	%	$	43,811		59	%

Selected Quarterly Financial Data (unaudited)

12 Months Ended

Jun. 30, 2019

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (unaudited)

The following data are in thousands of dollars except per share amounts.

						Net Income (Loss) Attributable to			Earnings (Loss) per Share
	Quarter	Net Sales		Gross Profit		STRATTEC			Basic			Diluted
2019	First	$	117,159	$	15,183	$	3,467		$	0.95		$	0.93
	Second		112,913		12,736		(22,164	)		(6.03	)		(5.96	)
	Third		128,230		15,682		1,730			0.47			0.46
	Fourth		128,704		14,199		(62	)		(0.02	)		(0.02	)
	TOTAL	$	487,006	$	57,800	$	(17,029	)	$	(4.63	)	$	(4.63	)
2018	First	$	102,460	$	13,463	$	2,456		$	0.68		$	0.67
	Second		103,182		12,646		2,882			0.79			0.78
	Third		116,823		15,197		2,969			0.82			0.80
	Fourth		116,730		13,137		3,976			1.09			1.07
	TOTAL	$	439,195	$	54,443	$	12,283		$	3.39		$	3.32

Organization and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Principles of Consolidation and Presentation

New Accounting Standards

Fiscal Year

Fiscal Year: Our fiscal year ends on the Sunday nearest June 30. The years ended June 30, 2019 and July 1, 2018 are each comprised of 52 weeks.

Use of Estimates

Cash and Cash Equivalents

Derivatives Instruments

The fair market value of all outstanding Mexican peso forward contracts in the accompanying Consolidated Balance Sheets was as follows (thousands of dollars):

	June 30, 2019		July 1, 2018
Not designated as hedging instruments:
Other current liabilities:
Mexican peso forward contracts	$	—	$	39

The pre-tax effects of the Mexican peso forward contracts on the accompanying Consolidated Statements of (Loss) Income and Comprehensive Income consisted of the following (thousands of dollars):

	Other (Expense) Income, net
	Years Ended
	June 30, 2019		July 1, 2018
Not Designated as Hedging Instruments:
Realized gain	$	485	$	1,140
Unrealized gain (loss)	$	39	$	(1,160	)

Fair Value of Financial Instruments

	June 30, 2019								July 1, 2018
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Rabbi Trust assets:
Stock index funds:
Small cap	$	276	$	—	$	—	$	276	$	298	$	—	$	—	$	298
Mid cap		293		—		—		293		286		—		—		286
Large cap		589		—		—		589		562		—		—		562
International		864		—		—		864		793		—		—		793
Fixed income funds		913		—		—		913		850		—		—		850
Cash and cash equivalents		—		3		—		3		—		3		—		3
Total assets at fair value	$	2,935	$	3	$	—	$	2,938	$	2,789	$	3	$	—	$	2,792

Liabilities:
Mexican peso forward contracts	$	—	$	—	$	—	$	—	$	—	$	39	$	-	$	39

Receivables

Inventories

	June 30, 2019			July 1, 2018
Finished products	$	11,582		$	13,410
Work in process		10,529			10,059
Purchased materials		29,376			27,185
		51,487			50,654
Excess and obsolete reserve		(4,225	)		(4,000	)
Inventories, net	$	47,262		$	46,654

Balance,

Beginning

of Year

Provision

Charged to

Expense

Amounts

Written Off

Balance,

End of Year

Year ended June 30, 2019

4,000

799

574

4,225

Year ended July 1, 2018

4,510

1,002

1,512

4,000

Customer Tooling in Progress

Property, Plant and Equipment

Classification		Expected Useful Lives
Land improvements		20 years
Buildings and improvements		15 to 35 years
Machinery and equipment		3 to 15 years

Property, plant and equipment consisted of the following (thousands of dollars):

	June 30, 2019			July 1, 2018
Land and improvements	$	5,679		$	5,545
Buildings and improvements		35,742			34,483
Machinery and equipment		246,000			229,688
		287,421			269,716
Less: accumulated depreciation		(169,301	)		(153,174	)
	$	118,120		$	116,542

Depreciation expense was as follows for the periods indicated (thousands of dollars):

Fiscal Year

Depreciation

Expense

2019

17,159

2018

14,544

The gross and net book value of property, plant and equipment located outside of the United States, primarily in Mexico, were as follows (thousands of dollars):

	June 30, 2019		July 1, 2018
Gross book value	$	157,551	$	140,681
Net book value	$	80,922	$	74,364

Supplier Concentrations

Supplier Concentrations: The following inventory purchases were made from major suppliers during each fiscal year noted:

Fiscal Year

Percentage of

Inventory

Purchases

Number of

Suppliers

2019

2018

We have long-term contracts or arrangements with most of our suppliers to guarantee the availability of raw materials and component parts.

Labor Concentrations

Revenue Recognition

Revenue Recognition:

Tooling and Pre-Production Engineering Costs Related to Long-Term Supply Arrangements:

Receivables, net:

Contract Balances:

Balance, July 1, 2018	$	1,195
Discounts Recorded as a Reduction in Sales		1,858
Payments of Discounts to Customers		(1,654	)
Other		(467	)
Balance, June 30, 2019	$	932

Refer to Product Sales and Sales and Receivable Concentration included herein for revenue by product group and revenue by customer.

Research and Development Costs

Other (Expense) Income, Net

	Years Ended
	June 30, 2019			July 1, 2018
Foreign currency transaction (loss) gain	$	(397	)	$	549
Rabbi Trust gain		146			193
Unrealized gain (loss) on Mexican peso forward contracts		39			(1,160	)
Realized gain on Mexican peso forward contracts		485			1,140
Pension and postretirement plans (cost) credit		(689	)		447
Other		79			(149	)
	$	(337	)	$	1,020

Warranty Reserve

Balance,

Beginning

of Year

Provision

Charged

to Expense

Payments

Balance,

End of Year

Year ended June 30, 2019

7,800

559

459

7,900

Year ended July 1, 2018

5,550

2,617

367

7,800

Foreign Currency Translation

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss: Accumulated other comprehensive loss (“AOCL”) was comprised of the following (thousands of dollars):

	June 30, 2019		July 1, 2018
Unrecognized pension and postretirement benefit liabilities, net of tax	$	2,251	$	18,148
Foreign currency translation, net of tax		16,317		15,291
	$	18,568	$	33,439

The following tables summarize the changes in AOCL for the years ended June 30, 2019 and July 1, 2018 (thousands of dollars):

	Year Ended June 30, 2019
	Foreign Currency Translation Adjustments			Retirement and Postretirement Plans			Total
Balance July 1, 2018	$	15,291		$	18,148		$	33,439
Other comprehensive loss before reclassifications		545			170			715
Income Tax		10			(40	)		(30	)
Net other comprehensive loss before Reclassifications		555			130			685
Reclassifications:
Pension termination settlements (A)		—			(25,668	)		(25,668	)
Prior service credits (A)		—			439			439
Actuarial gains (A)		—			(1,262	)		(1,262	)
Total reclassifications before tax		—			(26,491	)		(26,491	)
Income Tax		—			6,500			6,500
Net reclassifications		—			(19,991	)		(19,991	)
Other comprehensive loss (income)		555			(19,861	)		(19,306	)
Other comprehensive loss attributable
to non-controlling interest		(388	)		—			(388	)
Reclassification of stranded tax effects		83			3,964			4,047
Balance June 30, 2019	$	16,317		$	2,251		$	18,568

	Year ended July 1, 2018
	Foreign Currency Translation Adjustments			Retirement and Postretirement Plans			Total
Balance July 2, 2017	$	14,138		$	18,750		$	32,888
Other comprehensive loss before reclassifications		2,370			820			3,190
Income Tax		(151	)		(193	)		(344	)
Net other comprehensive loss before Reclassifications		2,219			627			2,846
Reclassifications:
Prior service credits (A)		—			752			752
Actuarial gains (A)		—			(2,514	)		(2,514	)
Total reclassifications before tax		—			(1,762	)		(1,762	)
Income Tax		—			533			533
Net reclassifications		—			(1,229	)		(1,229	)
Other comprehensive loss (income)		2,219			(602	)		1,617
Other comprehensive income attributable to non-controlling interest		1,066			—			1,066
Balance July 1, 2018	$	15,291		$	18,148		$	33,439

(A)

Accounting For Stock-Based Compensation

Compensation

Cost

Weighted Average

Period over

which Cost is to be

Recognized

(in years)

Restricted stock granted

1,128

0.9

Unrecognized compensation cost will be adjusted for any future changes in estimated and actual forfeitures.

Cash received from stock option exercises and the related income tax benefit were as follows (thousands of dollars):

Fiscal Year

Cash Received

from

Stock Option

Exercises

Income Tax

Benefit

2019

172

2018

139

—

The intrinsic value of stock options exercised and the fair value of options vested were as follows (thousands of dollars):

	Years Ended
	June 30, 2019		July 1, 2018
Intrinsic value of options exercised	$	324	$	110
Fair value of stock options vested	$	—	$	315

No options were granted during the fiscal years ended June 30, 2019 or July 1, 2018.

The range of options outstanding as of June 30, 2019 was as follows:

	Number of Options Outstanding/ Exercisable	Weighted Average Exercise Price Outstanding/ Exercisable	Weighted Average Remaining Contractual Life Outstanding (In Years)
$17.59-$18.49	26,500/26,500	$18.00/$18.00	0.5
$26.53-$38.71	81,850/81,850	$31.06/$31.06	3.2
$79.73	9,010/9,010	$79.73/$79.73	5.1
		$31.85/$31.85

Income Taxes

As of December 30, 2018, we had completed our accounting for all income tax elements of the Act. Measurement period adjustments related to the Act recorded in 2019 totaled $372,000.

Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2019

Fair Market Value of All Outstanding Peso Forward Contracts

The fair market value of all outstanding Mexican peso forward contracts in the accompanying Consolidated Balance Sheets was as follows (thousands of dollars):

	June 30, 2019		July 1, 2018
Not designated as hedging instruments:
Other current liabilities:
Mexican peso forward contracts	$	—	$	39

Pre-Tax Effects of the Peso Forward Contracts

The pre-tax effects of the Mexican peso forward contracts on the accompanying Consolidated Statements of (Loss) Income and Comprehensive Income consisted of the following (thousands of dollars):

	Other (Expense) Income, net
	Years Ended
	June 30, 2019		July 1, 2018
Not Designated as Hedging Instruments:
Realized gain	$	485	$	1,140
Unrealized gain (loss)	$	39	$	(1,160	)

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 June 30, 2019 and July 1, 2018 (thousands of dollars)

	June 30, 2019								July 1, 2018
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Rabbi Trust assets:
Stock index funds:
Small cap	$	276	$	—	$	—	$	276	$	298	$	—	$	—	$	298
Mid cap		293		—		—		293		286		—		—		286
Large cap		589		—		—		589		562		—		—		562
International		864		—		—		864		793		—		—		793
Fixed income funds		913		—		—		913		850		—		—		850
Cash and cash equivalents		—		3		—		3		—		3		—		3
Total assets at fair value	$	2,935	$	3	$	—	$	2,938	$	2,789	$	3	$	—	$	2,792

Liabilities:
Mexican peso forward contracts	$	—	$	—	$	—	$	—	$	—	$	39	$	-	$	39

Inventories

Inventories consisted of the following (thousands of dollars):

	June 30, 2019			July 1, 2018
Finished products	$	11,582		$	13,410
Work in process		10,529			10,059
Purchased materials		29,376			27,185
		51,487			50,654
Excess and obsolete reserve		(4,225	)		(4,000	)
Inventories, net	$	47,262		$	46,654

The activity related to the excess and obsolete inventory reserve was as follows (thousands of dollars):

Balance,

Beginning

of Year

Provision

Charged to

Expense

Amounts

Written Off

Balance,

End of Year

Year ended June 30, 2019

4,000

799

574

4,225

Year ended July 1, 2018

4,510

1,002

1,512

4,000

Property, Plant and Equipment, Useful Lives of Assets

Property, plant and equipment are stated at cost. Property, plant and equipment are depreciated on a straight-line basis over the estimated useful lives of the assets as follows:

Classification		Expected Useful Lives
Land improvements		20 years
Buildings and improvements		15 to 35 years
Machinery and equipment		3 to 15 years

Property, Plant and Equipment

Property, plant and equipment consisted of the following (thousands of dollars):

	June 30, 2019			July 1, 2018
Land and improvements	$	5,679		$	5,545
Buildings and improvements		35,742			34,483
Machinery and equipment		246,000			229,688
		287,421			269,716
Less: accumulated depreciation		(169,301	)		(153,174	)
	$	118,120		$	116,542

Schedule of Depreciation Expenses

Depreciation expense was as follows for the periods indicated (thousands of dollars):

Fiscal Year

Depreciation

Expense

2019

17,159

2018

14,544

Inventory Purchase from Major Suppliers

Supplier Concentrations: The following inventory purchases were made from major suppliers during each fiscal year noted

Fiscal Year

Percentage of

Inventory

Purchases

Number of

Suppliers

2019

2018

Contract Liability Balances

The activity related to contract liability balances during the year ended June 30, 2019 was as follows (thousands of dollars):

Balance, July 1, 2018	$	1,195
Discounts Recorded as a Reduction in Sales		1,858
Payments of Discounts to Customers		(1,654	)
Other		(467	)
Balance, June 30, 2019	$	932

Summary of Other (Expense) Income Net

The impact of these items for the periods presented was as follows (thousands of dollars):

	Years Ended
	June 30, 2019			July 1, 2018
Foreign currency transaction (loss) gain	$	(397	)	$	549
Rabbi Trust gain		146			193
Unrealized gain (loss) on Mexican peso forward contracts		39			(1,160	)
Realized gain on Mexican peso forward contracts		485			1,140
Pension and postretirement plans (cost) credit		(689	)		447
Other		79			(149	)
	$	(337	)	$	1,020

Changes in Warranty Reserve

Changes in the warranty reserve were as follows (thousands of dollars):

Balance,

Beginning

of Year

Provision

Charged

to Expense

Payments

Balance,

End of Year

Year ended June 30, 2019

7,800

559

459

7,900

Year ended July 1, 2018

5,550

2,617

367

7,800

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss: Accumulated other comprehensive loss (“AOCL”) was comprised of the following (thousands of dollars):

	June 30, 2019		July 1, 2018
Unrecognized pension and postretirement benefit liabilities, net of tax	$	2,251	$	18,148
Foreign currency translation, net of tax		16,317		15,291
	$	18,568	$	33,439

Summary of Changes in Accumulated Other Comprehensive Loss

The following tables summarize the changes in AOCL for the years ended June 30, 2019 and July 1, 2018 (thousands of dollars):

	Year Ended June 30, 2019
	Foreign Currency Translation Adjustments			Retirement and Postretirement Plans			Total
Balance July 1, 2018	$	15,291		$	18,148		$	33,439
Other comprehensive loss before reclassifications		545			170			715
Income Tax		10			(40	)		(30	)
Net other comprehensive loss before Reclassifications		555			130			685
Reclassifications:
Pension termination settlements (A)		—			(25,668	)		(25,668	)
Prior service credits (A)		—			439			439
Actuarial gains (A)		—			(1,262	)		(1,262	)
Total reclassifications before tax		—			(26,491	)		(26,491	)
Income Tax		—			6,500			6,500
Net reclassifications		—			(19,991	)		(19,991	)
Other comprehensive loss (income)		555			(19,861	)		(19,306	)
Other comprehensive loss attributable
to non-controlling interest		(388	)		—			(388	)
Reclassification of stranded tax effects		83			3,964			4,047
Balance June 30, 2019	$	16,317		$	2,251		$	18,568

	Year ended July 1, 2018
	Foreign Currency Translation Adjustments			Retirement and Postretirement Plans			Total
Balance July 2, 2017	$	14,138		$	18,750		$	32,888
Other comprehensive loss before reclassifications		2,370			820			3,190
Income Tax		(151	)		(193	)		(344	)
Net other comprehensive loss before Reclassifications		2,219			627			2,846
Reclassifications:
Prior service credits (A)		—			752			752
Actuarial gains (A)		—			(2,514	)		(2,514	)
Total reclassifications before tax		—			(1,762	)		(1,762	)
Income Tax		—			533			533
Net reclassifications		—			(1,229	)		(1,229	)
Other comprehensive loss (income)		2,219			(602	)		1,617
Other comprehensive income attributable to non-controlling interest		1,066			—			1,066
Balance July 1, 2018	$	15,291		$	18,148		$	33,439

(A)

Schedule of Unrecognized Compensation Cost

Unrecognized compensation cost as of June 30, 2019 related to restricted stock granted under the plan was as follows (thousands of dollars):

Compensation

Cost

Weighted Average

Period over

which Cost is to be

Recognized

(in years)

Restricted stock granted

1,128

0.9

Cash Received from Stock Option Exercises and Related Income Tax Benefit

Cash received from stock option exercises and the related income tax benefit were as follows (thousands of dollars):

Fiscal Year

Cash Received

from

Stock Option

Exercises

Income Tax

Benefit

2019

172

2018

139

—

Intrinsic Value of Stock Options Exercised and Fair Value Of Stock Options Vested

The intrinsic value of stock options exercised and the fair value of options vested were as follows (thousands of dollars):

	Years Ended
	June 30, 2019		July 1, 2018
Intrinsic value of options exercised	$	324	$	110
Fair value of stock options vested	$	—	$	315

Range of Options Outstanding

The range of options outstanding as of June 30, 2019 was as follows

	Number of Options Outstanding/ Exercisable	Weighted Average Exercise Price Outstanding/ Exercisable	Weighted Average Remaining Contractual Life Outstanding (In Years)
$17.59-$18.49	26,500/26,500	$18.00/$18.00	0.5
$26.53-$38.71	81,850/81,850	$31.06/$31.06	3.2
$79.73	9,010/9,010	$79.73/$79.73	5.1
		$31.85/$31.85

MEXICO

Property, Plant and Equipment

The gross and net book value of property, plant and equipment located outside of the United States, primarily in Mexico, were as follows (thousands of dollars):

	June 30, 2019		July 1, 2018
Gross book value	$	157,551	$	140,681
Net book value	$	80,922	$	74,364

Investment in Joint Ventures and Majority Owned Subsidiaries (Tables)

12 Months Ended

Jun. 30, 2019

Equity Method Investments And Joint Ventures [Abstract]

Investment in Joint Ventures and Majority Owned Subsidiaries

STRATTEC’s joint venture investments are included in the accompanying Consolidated Balance Sheets as follows (thousands of dollars):

	June 30, 2019		July 1, 2018
Investment in Joint Ventures:
Investment in VAST LLC	$	23,528	$	22,192
Other Current Liabilities:
Investment in SAL LLC	$	328	$	458

Equity Earnings of Joint Ventures (Tables)

12 Months Ended

Jun. 30, 2019

VAST LLC

Summarized Statements of Operations and Balance Sheet Data

The following are summarized statements of operations and summarized balance sheet data for VAST LLC (thousands of dollars):

	Years Ended
	June 30, 2019		July 1, 2018
Net sales	$	161,660	$	174,896
Cost of goods sold		128,375		134,185
Gross profit		33,285		40,711
Engineering, selling and administrative expense		27,624		26,450
Income from operations		5,661		14,261
Other income, net		3,559		1,757
Income before provision for income taxes		9,220		16,018
Provision for income taxes		1,292		2,632
Net income	$	7,928	$	13,386
STRATTEC’s share of VAST LLC net
income	$	2,643	$	4,463
Intercompany profit eliminations		12		(22	)
STRATTEC’s equity earnings of VAST LLC	$	2,655	$	4,441

	June 30, 2019		July 1, 2018
Cash and cash equivalents	$	6,854	$	8,959
Receivables, net		35,639		43,930
Inventories, net		20,465		20,510
Other current assets		19,701		16,020
Total current assets		82,659		89,419
Property, plant and equipment, net		49,953		42,923
Other long-term assets		16,868		14,974
Total assets	$	149,480	$	147,316
Current debt	$	7,240	$	8,580
Other current liabilities		63,799		66,140
Long-term debt		5,015		5,143
Other long-term liabilities		2,512		512
Total liabilities	$	78,566	$	80,375
Net assets	$	70,914	$	66,941
STRATTEC’s share of VAST LLC net assets	$	23,638	$	22,314

VAST LLC and SAL LLC

Summarize of Related Party Transaction

The following tables summarize the related party transactions with VAST LLC and SAL LLC for the periods indicated (thousands of dollars):

	Years Ended
	June 30, 2019		July 1, 2018
Sales to VAST LLC	$	3,731	$	3,151
Sales to SAL LLC	$	34	$	98
Purchases from VAST LLC	$	221	$	183
Expenses charged to VAST LLC	$	1,594	$	984
Expenses charged from VAST LLC	$	834	$	886

	June 30, 2019		July 1, 2018
Accounts receivable from VAST LLC	$	264	$	53
Accounts receivable from SAL LLC ^(A)	$	—	$	—
Current loan receivable from SAL LLC^(A)	$	—	$	—
Accounts payable to VAST LLC	$	127	$	87

^(A)

Credit Facilities (Tables)

12 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Outstanding Borrowings Under the Credit Facilities

Outstanding borrowings under the credit facilities referenced in the above paragraph as of the end of 2019 and 2018 were as follows (thousands of dollars):

	June 30, 2019		July 1, 2018
STRATTEC Credit Facility	$	18,000	$	23,000
ADAC-STRATTEC Credit Facility		24,000		28,000
	$	42,000	$	51,000

Schedule of Average Outstanding Borrowings and the Weighted Average Interest Rate

Average outstanding borrowings and the weighted average interest rate under each such credit facility during 2019 and 2018 were as follows (thousands of dollars):

	Average Outstanding Borrowings				Weighted Average Interest Rate
	Years Ended				Years Ended
	June 30, 2019		July 1, 2018		June 30, 2019			July 1, 2018
STRATTEC Credit Facility	$	21,212	$	21,668		3.3	%		2.5	%
ADAC-STRATTEC Credit Facility	$	25,901	$	22,621		3.4	%		2.5	%

Commitments and Contingencies (Tables)

12 Months Ended

Jun. 30, 2019

Commitments And Contingencies Disclosure [Abstract]

Purchase and Minimum Rental Commitments Under Non-Cancelable Operating Leases

	Purchase		Minimum Rental
Fiscal Year	Commitments		Commitments
2020	$	8,936	$	539
2021	$	4,945	$	504
2022	$	3,358	$	495
2023	$	—	$	498
2024-2025	$	—	$	168

Rental Expense Under Non-Cancelable Operating Leases

Rental expense under all non-cancelable operating leases was as follows (thousands of dollars):

Fiscal Year	Rental Expense
2019	$	773
2018	$	731

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Provision (Benefit) for Income Taxes

The provision for income taxes consisted of the following (thousands of dollars):

	Years Ended
	June 30, 2019			July 1, 2018
Currently payable:
Federal	$	705		$	156
State		162			73
Foreign		1,515			812
		2,382			1,041
Deferred tax provision		(10,122	)		1,029
	$	(7,740	)	$	2,070

Difference Between Income Taxes Computed at the Federal Statutory Tax Rate and the Provision for Income Taxes

The items accounting for the difference between income taxes computed at the Federal statutory tax rate and the provision for income taxes were as follows:

	Years Ended
	June 30, 2019			July 1, 2018
U.S. statutory rate		21.0	%		28.0	%
State taxes, net of Federal tax benefit		3.7			1.6
Foreign subsidiaries		(1.8	)		(0.7	)
U.S. tax reform: transition tax		2.7			(3.0	)
U.S. tax reform: change in deferred rate		—			(9.3	)
Research and development tax credit		9.4			(2.5	)
Non-controlling interest		6.7			(5.6	)
Uncertain tax positions		(2.3	)		2.1
Stock based compensation		(0.7	)		1.7
Other		(0.8	)		(0.6	)
		37.9	%		11.7	%

Components of Deferred Tax (Liabilities) Assets

The components of deferred tax (liabilities) assets were as follows (thousands of dollars):

	June 30, 2019			July 1, 2018
Unrecognized pension and postretirement benefit plan liabilities	$	701		$	6,887
Accrued warranty		446			517
Payroll-related accruals		2,180			1,959
Stock-based compensation		470			727
Inventory reserve		834			799
Environmental reserve		300			303
Repair and maintenance supply parts reserve		229			212
Allowance for doubtful accounts		118			118
Credit carry-forwards		1,990			248
Postretirement obligations		(416	)		(375	)
Accumulated depreciation		(5,023	)		(4,902	)
Accrued pension obligations		(1,578	)		(9,235	)
Non-cash compensation expense		986			—
Joint ventures		968			814
Other		728			967
	$	2,933		$	(961	)

Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows for the years ended June 30, 2019 and July 1, 2018 (thousands of dollars):

	Years Ended
	June 30, 2019			July 1, 2018
Unrecognized tax benefits, beginning of year	$	741		$	571
Gross increases – tax positions in prior years		229			101
Gross increases – current period tax positions		238			126
Tax years closed		(70	)		(57	)
Unrecognized tax benefits, end of year	$	1,138		$	741

Retirement Plans and Postretirement Costs (Tables)

12 Months Ended

Jun. 30, 2019

Compensation And Retirement Disclosure [Abstract]

Amounts Included in Accumulated Other Comprehensive Loss, Net of Tax

Amounts included in accumulated other comprehensive loss, net of tax, at June 30, 2019, which have not yet been recognized in net periodic benefit cost were as follows (thousands of dollars):

	SERP		Postretirement
Prior service credit	$	—	$	(28	)
Net actuarial loss		225		2,054
	$	225	$	2,026

Amounts Included in Accumulated Other Comprehensive Loss Expected to be Recognized, Net of Tax

	SERP		Postretirement
Prior service credit	$	—	$	(22	)
Net actuarial loss		9		304
	$	9	$	282

Summary of Pension Supplemental Executive Retirement Plan and Postretirement Plans Income and Expense

	Pension and SERP Benefits						Postretirement Benefits
	Years Ended						Years Ended
	June 30, 2019			July 1, 2018			June 30, 2019			July 1, 2018
COMPONENTS OF NET PERIODIC BENEFIT COST (CREDIT):
Service cost	$	62		$	66		$	11		$	13
Interest cost		2,101			3,857			40			45
Expected return on plan assets		(2,275	)		(6,111	)		—			—
Plan settlements		31,878			—			—			—
Amortization of prior service cost (credit)		—			12			(439	)		(764	)
Amortization of unrecognized net loss		831			2,035			431			479
Net periodic benefit cost (credit)	$	32,597		$	(141	)	$	43		$	(227	)

	Pension and SERP Benefits						Postretirement Benefits
	2019			2018			2019			2018
WEIGHTED-AVERAGE ASSUMPTIONS:
Benefit Obligations:
Discount rate		3.17	%		4.30	%		3.17	%		4.30	%
Rate of compensation increases – SERP		3.0	%		3.0	%	n/a			n/a
Net Periodic Benefit Cost:
Discount rate		4.30	%		3.91	%		4.30	%		3.91	%
Expected return on plan assets	n/a				5.45	%	n/a			n/a
Rate of compensation increases – SERP		3.0	%		3.0	%	n/a			n/a
CHANGE IN PROJECTED BENEFIT OBLIGATION:
Benefit obligation at beginning of year	$	98,835		$	101,266		$	1,041		$	1,268
Service cost		62			66			11			13
Interest cost		2,101			3,857			40			45
Plan settlements		(72,400	)		—			—			—
Actuarial gain		5,143			(1,392	)		39			(8	)
Benefits paid		(31,512	)		(4,962	)		(217	)		(277	)
Benefit obligation at end of year	$	2,229		$	98,835		$	914		$	1,041
CHANGE IN PLAN ASSETS:
Fair value of plan assets at beginning of year	$	111,466		$	112,524		$	—		$	—
Actual return on plan assets		1,077			3,890			—			—
Employer contribution		14			14			217			277
Plan settlements		(72,400	)		—			—			—
Benefits paid		(31,512	)		(4,962	)		(217	)		(277	)
Fair value of plan assets at end of year	$	8,645		$	111,466		$	—		$	—
Funded status – prepaid (accrued) benefit obligations	$	6,416		$	12,631		$	(914	)	$	(1,041	)
AMOUNTS RECOGNIZED IN CONSOLIDATED BALANCE SHEETS:
Other long-term assets	$	8,585		$	14,547		$	—		$	—
Accrued payroll and benefits (current liabilities)		(506	)		(363	)		(152	)		(215	)
Accrued benefit obligations (long-term liabilities)		(1,663	)		(1,553	)		(762	)		(826	)
Net amount recognized	$	6,416		$	12,631		$	(914	)	$	(1,041	)

	Pension and SERP Benefits								Postretirement Benefits
	2019				2018				2019				2018
CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OTHER COMPREHENSIVE INCOME:
Net periodic benefit (credit) cost	$	32,597		$		(141	)	$		43		$		(227	)
Net actuarial loss (gain)		(57,414	)			828				39				(8	)
Plan settlements		31,878				—				—				—
Amortization of prior service (cost) credits		—				(12	)			439				764
Amortization of unrecognized net loss		(831	)			(2,035	)			(431	)			(479	)
Total recognized in other comprehensive (income) loss, before tax		(26,367	)			(1,219	)			47				277
Total recognized in net periodic benefit cost and other comprehensive (income) loss, before tax	$	6,230		$		(1,360	)	$		90		$		50

The Accumulated Benefit Obligations and Projected Benefit Obligations for the Pension and SERP

The following table summarizes the accumulated benefit obligations and projected benefit obligations for the pension and SERP (thousands of dollars):

	Pension				SERP
	June 30, 2019		July 1, 2018		June 30, 2019		July 1, 2018
Accumulated benefit obligation	$	60	$	96,919	$	1,981	$	1,749
Projected benefit obligation	$	60	$	96,919	$	2,169	$	1,916

Minimal Effect of Health Care Trend on our Postretirement Benefit

1% Increase

1% Decrease

Effect on total of service and interest cost components

in fiscal 2019

—

Effect on postretirement benefit obligation as of

June 30, 2019

)

Schedule of Asset Allocations of Pension Plan

The pension plan weighted-average asset allocations by asset category were as follows for 2019 and 2018:

	Target Allocation			June 30, 2019			July 1, 2018
Equity investments	0-50%				0	%		13	%
Fixed-income investments / cash	50-100				100			87
Total		100	%		100	%		100	%

The following is a summary, by asset category, of the fair value of pension plan assets at the June 30, 2019 and June 30, 2018 measurement dates (thousands of dollars):

	June 30, 2019								June 30, 2018
Asset Category	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	—	$	8,645	$	—	$	8,645	$	—	$	7,617	$	—	$	7,617
Equity securities/funds:
Small cap		—		—		—		—		—		—		—		—
Mid cap		—		—		—		—		4,953		—		—		4,953
Large cap		—		—		—		—		4,945		—		—		4,945
International		—		—		—		—		4,443		—		—		4,443
Fixed income: Bond funds/bonds		—		—		—		—		—		89,508		—		89,508
Total	$	—	$	8,645	$	—	$	8,645	$	14,341	$	97,125	$	—	$	111,466

Expected Future Benefit Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid during the fiscal years noted below (thousands of dollars):

	SERP Benefits		Postretirement Benefits
2020	$	569	$	152
2021	$	510	$	135
2022	$	403	$	127
2023	$	14	$	108
2024	$	14	$	93
2025-2029	$	550	$	221

Schedule of 401(k) Plan Contribution

Our contributions to the 401(k) Plan were as follows (thousands of dollars):

	Years Ended
	June 30, 2019		July 1, 2018
Company contributions	$	1,903	$	1,793

(Loss) Earnings Per Share (''EPS'') (Tables)

12 Months Ended

Jun. 30, 2019

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):

	Years Ended
	June 30, 2019			July 1, 2018
Net (loss) income attributable to STRATTEC	$	(17,029	)	$	12,283

Weighted average shares of common stock outstanding		3,676			3,628
Incremental shares – stock based compensation		—			75
Diluted weighted average shares of common stock Outstanding		3,676			3,703
Basic earnings per share	$	(4.63	)	$	3.39
Diluted earnings per share	$	(4.63	)	$	3.32

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Options to purchase shares of common stock that were excluded from the calculation of diluted earnings per share because their inclusion would have been antidilutive were as follows:

Years Ended

Number of Options

Excluded

June 30, 2019

181,117

July 1, 2018

41,200

Stock Option and Purchase Plans (Tables)

12 Months Ended

Jun. 30, 2019

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 was as follows:

				Weighted Average		Weighted Average Remaining Contractual		Aggregate Intrinsic Value
	Shares			Exercise Price		Term (in years)		(in thousands)
Balance at July 2, 2017		138,508		$	29.23
Exercised		(5,434	)	$	25.64
Balance at July 1, 2018		133,074		$	29.37
Exercised		(15,714	)	$	10.92
Balance at June 30, 2019		117,360		$	31.85		2.7	$	162
Exercisable as of:
June 30, 2019		117,360		$	31.85		2.7	$	162
July 1, 2018		133,074		$	29.37		3.4	$	862

Summary of Restricted Stock Activity Under Our Stock Incentive Plan

A summary of restricted stock activity under our stock incentive plan was as follows:

				Weighted Average
				Grant Date
	Shares			Fair Value
Nonvested Balance at July 2, 2017		75,850		$	60.61
Granted		27,950		$	33.30
Vested		(30,400	)	$	62.99
Forfeited		(4,275	)	$	52.47
Nonvested Balance at July 1, 2018		69,125		$	49.02
Granted		34,050		$	37.25
Vested		(37,343	)	$	54.93
Forfeited		(2,075	)	$	43.52
Nonvested Balance at June 30, 2019		63,757		$	39.47

Export Sales (Tables)

12 Months Ended

Jun. 30, 2019

Schedule of Sales to Locations Outside of the United States

Total export sales, sales from the United States to locations outside of the United States, are summarized as follows (thousands of dollars and percent of total net sales):

	Years Ended
	June 30, 2019			July 1, 2018
	Net Sales		%	Net Sales		%
Export sales	$	160,771	33%	$	157,862	36%

Geographic Concentration Risk | Canada

Schedule of Sales to Locations Outside of the United States

Countries for which customer sales account for ten percent or more of total net sales are summarized as follows (thousands of dollars and percent of total net sales):

	Years Ended
	June 30, 2019			July 1, 2018
	Net Sales		%	Net Sales		%
Export sales into Canada	$	67,516	14%	$	70,920	16%

Product Sales (Tables)

12 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Schedule of Product Sales

Sales by product group were as follows (thousands of dollars and percent of total net sales):

	Years Ended
	June 30, 2019					July 1, 2018
	Net Sales		%			Net Sales		%
Keys & locksets	$	135,413		28	%	$	118,256		27	%
Door handles & exterior trim		116,977		24			88,788		20
Power access		92,744		19			86,380		20
Latches		49,147		10			42,381		9
Aftermarket & OE service		44,254		9			43,311		10
Driver controls		40,942		8			51,817		12
Other		7,529		2			8,262		2
	$	487,006		100	%	$	439,195		100	%

Sales and Receivable Concentration (Tables)

12 Months Ended

Jun. 30, 2019

Segment Reporting Information Receivable [Abstract]

Sales to Largest Customers

Sales to our largest customers were as follows (thousands of dollars and percent of total net sales):

	Years Ended
	June 30, 2019					July 1, 2018
	Net Sales		%			Net Sales		%
Fiat Chrysler Automobiles	$	115,304		24	%	$	110,650		25	%
General Motors Company		112,719		23			85,827		20
Ford Motor Company		63,333		13			64,427		14
	$	291,356		60	%	$	260,904		59	%

Receivables from Largest Customers

Receivables from our largest customers were as follows (thousands of dollars and percent of gross receivables):

	June 30, 2019					July 1, 2018
	Receivables		%			Receivables		%
Fiat Chrysler Automobiles	$	19,151		23	%	$	19,908		27	%
General Motors Company		12,754		15			16,366		22
Ford Motor Company		9,991		12			7,537		10
	$	41,896		50	%	$	43,811		59	%

Selected Quarterly Financial Data (unaudited) (Tables)

12 Months Ended

Jun. 30, 2019

Quarterly Financial Information Disclosure [Abstract]

Summary of Selected Quarterly Financial Data

The following data are in thousands of dollars except per share amounts.

						Net Income (Loss) Attributable to			Earnings (Loss) per Share
	Quarter	Net Sales		Gross Profit		STRATTEC			Basic			Diluted
2019	First	$	117,159	$	15,183	$	3,467		$	0.95		$	0.93
	Second		112,913		12,736		(22,164	)		(6.03	)		(5.96	)
	Third		128,230		15,682		1,730			0.47			0.46
	Fourth		128,704		14,199		(62	)		(0.02	)		(0.02	)
	TOTAL	$	487,006	$	57,800	$	(17,029	)	$	(4.63	)	$	(4.63	)
2018	First	$	102,460	$	13,463	$	2,456		$	0.68		$	0.67
	Second		103,182		12,646		2,882			0.79			0.78
	Third		116,823		15,197		2,969			0.82			0.80
	Fourth		116,730		13,137		3,976			1.09			1.07
	TOTAL	$	439,195	$	54,443	$	12,283		$	3.39		$	3.32

Organization and Summary of Significant Accounting Policies (Details Textual)			3 Months Ended	12 Months Ended
	Jul. 01, 2019 USD ($) Lease	Jul. 02, 2018 USD ($)	Dec. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) Subsidiary Joint_Venture Segment Associates shares	Jul. 01, 2018 USD ($) shares	Jul. 02, 2017 shares
Organization And Summary Of Significant Accounting Policies [Line Items]
Number of reporting segments related to STRATTEC Security Corporation \| Segment				1
Receivables, net				$ 84,230,000	$ 73,832,000
Accrued liabilities: Other				$ 10,857,000	$ 7,870,000
Fiscal year duration				364 days	364 days
Fair value, assets, level 1 to level 2 transfers, amount				$ 0	$ 0
Allowance for doubtful accounts receivable				500,000	500,000
Property, plant and equipment impairment				$ 0	0
Number of full time associates \| Associates				4,209
Number of associates represented by labor union \| Associates				250
Percentage of associate represent by labor union				5.90%
Research and development expenditures				$ 13,800,000	$ 4,800,000
Options, granted \| shares				0	0	0
Impact of change in measurement of deferred tax assets resulting in a favourable provision impact					$ 1,600,000
One-time transition tax on non-previoulsy accumulated foreign earnings resulting in a net favourable impact					500,000
One-time transition tax on non-previoulsy accumulated foreign earnings resulting in a net favourable impact included transition tax offset amount					1,400,000
Offset by the reversal of net deferred tax liability balances					1,900,000
Impact of changing our annualized effective tax rate, resulting in a favourable provision impact					$ 900,000
Measurement period adjustments				$ 372,000
Tax benefit resulting from termination of qualified, noncontributory defined benefit pension plan				$ 7,500,000
2017 Tax Cuts and Jobs Act
Organization And Summary Of Significant Accounting Policies [Line Items]
U.S. Federal statutory tax rate effective January 1, 2018, which impacted our fiscal 2018 annual effective tax rate recorded in the current period				21.00%	28.00%
Period, in years, over which the one-time transition tax on deemed repatriated earnings of foreign subsidiaries is payable					8 years
Discrete net tax benefit recorded as a result of the 2017 Tax Cuts and Jobs Act					$ 3,000,000
Employee Stock Option
Organization And Summary Of Significant Accounting Policies [Line Items]
Options expires after date of grant				10 years
Omnibus Stock Incentive Plan
Organization And Summary Of Significant Accounting Policies [Line Items]
Share based compensation arrangement by share based payment award number of shares authorized \| shares				1,850,000
Shares of common stock available for grant \| shares				149,289
Minimum
Organization And Summary Of Significant Accounting Policies [Line Items]
Payment generally occurs after shipment date				45 days
Minimum \| Employee Stock Option
Organization And Summary Of Significant Accounting Policies [Line Items]
Vesting period after the date of grant				1 year
Minimum \| Restricted stock
Organization And Summary Of Significant Accounting Policies [Line Items]
Vesting period after the date of grant				1 year
Minimum \| New Vehicle Production \| Long-term Supply Agreements
Organization And Summary Of Significant Accounting Policies [Line Items]
Production period				4 years
Minimum \| Service Parts Production \| Long-term Supply Agreements
Organization And Summary Of Significant Accounting Policies [Line Items]
Production period				10 years
Maximum
Organization And Summary Of Significant Accounting Policies [Line Items]
Payment generally occurs after shipment date				90 days
Maximum \| Employee Stock Option
Organization And Summary Of Significant Accounting Policies [Line Items]
Vesting period after the date of grant				4 years
Maximum \| Restricted stock
Organization And Summary Of Significant Accounting Policies [Line Items]
Vesting period after the date of grant				5 years
Maximum \| New Vehicle Production \| Long-term Supply Agreements
Organization And Summary Of Significant Accounting Policies [Line Items]
Production period				6 years
Maximum \| Service Parts Production \| Long-term Supply Agreements
Organization And Summary Of Significant Accounting Policies [Line Items]
Production period				15 years
ASU 2014-09
Organization And Summary Of Significant Accounting Policies [Line Items]
Cumulative effect adjustment to retained earnings		$ 0
ASU 2014-09 \| Effect of Reclassification Changes
Organization And Summary Of Significant Accounting Policies [Line Items]
Receivables, net		1,200,000
Accrued liabilities: Other		$ 1,200,000
ASU 2016-02 \| Subsequent Event
Organization And Summary Of Significant Accounting Policies [Line Items]
Cumulative effect adjustment to retained earnings	$ 0
Number of operating lease asset \| Lease	1
Number of operating lease liability \| Lease	1
Operating lease asset	$ 4,100,000
Operating lease liability	$ 4,100,000
ASU 2018-02 \| Reclassification from Accumulated Other Comprehensive Income to Retained Earnings
Organization And Summary Of Significant Accounting Policies [Line Items]
Effect of adoption of new accounting guidance			$ 4,000,000.0
SAL, LLC
Organization And Summary Of Significant Accounting Policies [Line Items]
STRATTEC's percentage ownership in joint venture				51.00%	51.00%
VAST LLC
Organization And Summary Of Significant Accounting Policies [Line Items]
STRATTEC's percentage ownership in joint venture				33.33%
VAST LLC \| CHINA
Organization And Summary Of Significant Accounting Policies [Line Items]
Number of wholly owned subsidiaries \| Subsidiary				4
VAST LLC \| BRAZIL
Organization And Summary Of Significant Accounting Policies [Line Items]
Number of wholly owned subsidiaries \| Subsidiary				1
VAST LLC \| INDIA
Organization And Summary Of Significant Accounting Policies [Line Items]
Number of joint venture entities \| Joint_Venture				1

Organization and Summary of Significant Accounting Policies -Summary of Financial Assets and Liabilities at Fair Value on Recurring Basis (Details) - Fair Value Measurements Recurring - USD ($) $ in Thousands	Jun. 30, 2019	Jul. 01, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	$ 2,938	$ 2,792
Fixed Income Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	913	850
Stock Index Funds \| Small Cap
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	276	298
Stock Index Funds \| Mid Cap
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	293	286
Stock Index Funds \| Large Cap
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	589	562
Stock Index Funds \| International
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	864	793
Cash and Cash Equivalents
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	3	3
Mexican Peso Forward Contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Liabilities at Fair Value		39
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	2,935	2,789
Level 1 \| Fixed Income Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	913	850
Level 1 \| Stock Index Funds \| Small Cap
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	276	298
Level 1 \| Stock Index Funds \| Mid Cap
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	293	286
Level 1 \| Stock Index Funds \| Large Cap
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	589	562
Level 1 \| Stock Index Funds \| International
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	864	793
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	3	3
Level 2 \| Cash and Cash Equivalents
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	$ 3	3
Level 2 \| Mexican Peso Forward Contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Liabilities at Fair Value		$ 39

Organization and Summary of Significant Accounting Policies - Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jul. 01, 2018	Jul. 02, 2017
Inventories
Finished products	$ 11,582	$ 13,410
Work in process	10,529	10,059
Purchased materials	29,376	27,185
Inventory, Gross, Total	51,487	50,654
Excess and obsolete reserve	(4,225)	(4,000)	$ (4,510)
Inventories, net	$ 47,262	$ 46,654

Organization and Summary of Significant Accounting Policies - Activity Related to the Excess and Obsolete Inventory Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Activity related to the excess and obsolete inventory reserve
Balance, Beginning of Year	$ 4,000	$ 4,510
Provision Charged to Expense	799	1,002
Amounts Written Off	574	1,512
Balance, End of Year	$ 4,225	$ 4,000

Organization and Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jul. 01, 2018
Property, plant and equipment
Gross	$ 287,421	$ 269,716
Less: accumulated depreciation	(169,301)	(153,174)
Total	118,120	116,542
Land and improvements
Property, plant and equipment
Gross	5,679	5,545
Buildings and improvements
Property, plant and equipment
Gross	35,742	34,483
Machinery and equipment
Property, plant and equipment
Gross	$ 246,000	$ 229,688

Organization and Summary of Significant Accounting Policies - Gross and Net Book Value of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jul. 01, 2018
Gross and net book value of property plant and equipment
Property, plant and equipment, gross	$ 287,421	$ 269,716
Property, plant and equipment, net	118,120	116,542
MEXICO
Gross and net book value of property plant and equipment
Property, plant and equipment, gross	157,551	140,681
Property, plant and equipment, net	$ 80,922	$ 74,364

Organization and Summary of Significant Accounting Policies - Contract Liability Balances (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2019 USD ($)
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Balance, July 1, 2018	$ 1,195
Discounts Recorded as a Reduction in Sales	1,858
Payments of Discounts to Customers	(1,654)
Other	(467)
Balance, June 30, 2019	$ 932

Organization and Summary of Significant Accounting Policies - Summary of Other (Expense) Income Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Other Income and Expenses [Abstract]
Foreign currency transaction (loss) gain	$ (397)	$ 549
Rabbi Trust gain	146	193
Unrealized gain (loss) on Mexican peso forward contracts	39	(1,160)
Realized gain on Mexican peso forward contracts	485	1,140
Pension and postretirement plans (cost) credit	(689)	447
Other	79	(149)
Other (expense) income, net	$ (337)	$ 1,020

Organization and Summary of Significant Accounting Policies - Changes in Warranty Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Changes in warranty reserve
Balance, Beginning of Year	$ 7,800	$ 5,550
Provision Charged to Expense	559	2,617
Payments	459	367
Balance, End of Year	$ 7,900	$ 7,800

Organization and Summary of Significant Accounting Policies - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jul. 01, 2018
Accumulated other comprehensive loss
Unrecognized pension and postretirement benefit liabilities, net of tax	$ 2,251	$ 18,148
Foreign currency translation, net of tax	16,317	15,291
Accumulated other comprehensive loss, total	$ 18,568	$ 33,439

Organization and Summary of Significant Accounting Policies - Summary of Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	$ (183,246)	$ (172,714)
Other comprehensive loss before reclassifications	715	3,190
Retirement and Postretirement Plan Reclassification Adjustment, Income Tax Amount	(30)	(344)
Net other comprehensive loss before Reclassifications	685	2,846
Reclassifications:
Pension termination settlements	(25,668)
Prior service credits	439	752
Actuarial gains	(1,262)	(2,514)
Total reclassifications before tax	(26,491)	(1,762)
Retirement and Postretirement Plans Reclassifications, Income Tax	6,500	533
Net reclassifications	(19,991)	(1,229)
Other comprehensive loss (income)	(19,306)	1,617
Reclassification of stranded tax effects	4,047
Ending balance	(187,816)	(183,246)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	15,291	14,138
Other comprehensive loss before reclassifications	545	2,370
Retirement and Postretirement Plan Reclassification Adjustment, Income Tax Amount	10	(151)
Net other comprehensive loss before Reclassifications	555	2,219
Reclassifications:
Other comprehensive loss (income)	555	2,219
Other comprehensive loss (income) attributable to non-controlling interest	(388)	1,066
Reclassification of stranded tax effects	83
Ending balance	16,317	15,291
Retirement and Postretirement Benefit Plans
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	18,148	18,750
Other comprehensive loss before reclassifications	170	820
Retirement and Postretirement Plan Reclassification Adjustment, Income Tax Amount	(40)	(193)
Net other comprehensive loss before Reclassifications	130	627
Reclassifications:
Pension termination settlements	(25,668)
Prior service credits	439	752
Actuarial gains	(1,262)	(2,514)
Total reclassifications before tax	(26,491)	(1,762)
Retirement and Postretirement Plans Reclassifications, Income Tax	6,500	533
Net reclassifications	(19,991)	(1,229)
Other comprehensive loss (income)	(19,861)	(602)
Reclassification of stranded tax effects	3,964
Ending balance	2,251	18,148
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	33,439	32,888
Reclassifications:
Ending balance	18,568	33,439
AOCI Including Portion Attributable to Noncontrolling Interest
Reclassifications:
Other comprehensive loss (income)	(19,306)	1,617
AOCI Attributable to Noncontrolling Interest
Reclassifications:
Other comprehensive loss (income) attributable to non-controlling interest	$ (388)	$ 1,066

Organization and Summary of Significant Accounting Policies - Range of Options Outstanding (Details)	12 Months Ended
	Jun. 30, 2019 $ / shares shares
Range of options outstanding
Weighted Average Exercise Price Outstanding	$ 31.85
Weighted Average Exercise Price Exercisable	$ 31.85
Exercise Price Range One
Range of options outstanding
Number of Options Outstanding \| shares	26,500
Number of Options Exercisable \| shares	26,500
Weighted Average Exercise Price Outstanding	$ 18.00
Weighted Average Exercise Price Exercisable	$ 18.00
Weighted Average Remaining Contractual Life Outstanding (In Years)	6 months
Exercise Price Range, Lower Range Limit	$ 17.59
Exercise Price Range, Upper Range Limit	$ 18.49
Exercise Price Range Two
Range of options outstanding
Number of Options Outstanding \| shares	81,850
Number of Options Exercisable \| shares	81,850
Weighted Average Exercise Price Outstanding	$ 31.06
Weighted Average Exercise Price Exercisable	$ 31.06
Weighted Average Remaining Contractual Life Outstanding (In Years)	3 years 2 months 12 days
Exercise Price Range, Lower Range Limit	$ 26.53
Exercise Price Range, Upper Range Limit	$ 38.71
Exercise Price Range Three
Range of options outstanding
Number of Options Outstanding \| shares	9,010
Number of Options Exercisable \| shares	9,010
Weighted Average Exercise Price Outstanding	$ 79.73
Weighted Average Exercise Price Exercisable	$ 79.73
Weighted Average Remaining Contractual Life Outstanding (In Years)	5 years 1 month 6 days
Exercise Price Range	$ 79.73

Investment in Joint Ventures and Majority Owned Subsidiaries (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 28, 2015	Jun. 30, 2019	Jul. 01, 2018
Schedule Of Equity Method Investments [Line Items]
Equity (loss) earnings of joint ventures		$ 2,783,000	$ 4,532,000
Payments to acquire interest in joint venture		$ 200,000	$ 125,000
ADAC-STRATTEC LLC
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in less than wholly owned consolidated subsidiary		51.00%	51.00%
Income (loss) from majority owned subsidiaries, impact on net income		$ 2,700,000	$ 1,800,000
STRATTEC POWER ACCESS LLC
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in less than wholly owned consolidated subsidiary		80.00%	80.00%
Income (loss) from majority owned subsidiaries, impact on net income		$ 2,500,000	$ 2,200,000
VAST LLC
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in equity method investment		33.33%
Equity (loss) earnings of joint ventures		$ 2,655,000	4,441,000
Payments to acquire interest in joint venture		$ 600,000	375,000
VAST LLC \| MINDA-VAST ACCESS SYSTEMS
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in equity method investment		50.00%
VAST LLC \| STRATTEC
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in equity method investment		33.30%
Payments to acquire interest in joint venture		$ 200,000	$ 125,000
SAL LLC
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in equity method investment		51.00%	51.00%
Equity (loss) earnings of joint ventures		$ 128,000	$ 91,000
Percentage of funding in joint venture through loans	100.00%	100.00%	100.00%
Percentage of losses of joint venture, up to committed financial support, recognized by STRATTEC	100.00%	100.00%	100.00%
ADAC \| ADAC-STRATTEC LLC
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in less than wholly owned consolidated subsidiary		49.00%	49.00%
ADAC \| VAST LLC
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in equity method investment		33.30%
WITTE \| STRATTEC POWER ACCESS LLC
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in less than wholly owned consolidated subsidiary		20.00%	20.00%
WITTE \| VAST LLC
Schedule Of Equity Method Investments [Line Items]
Percentage ownership interest in equity method investment		33.30%

Investment in Joint Ventures And Majority Owned Subsidiaries (Details1) - USD ($) $ in Thousands	Jun. 30, 2019	Jul. 01, 2018
Schedule Of Equity Method Investments [Line Items]
Investment in VAST LLC	$ 23,528	$ 22,192
VAST LLC
Schedule Of Equity Method Investments [Line Items]
Investment in VAST LLC	23,528	22,192
SAL LLC
Schedule Of Equity Method Investments [Line Items]
Other Current Liabilities	$ 328	$ 458

Equity Earnings of Joint Ventures (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 28, 2015	Jun. 30, 2019	Jul. 01, 2018
VAST LLC
Schedule Of Equity Method Investments [Line Items]
STRATTEC's percentage ownership in joint venture		33.33%
VAST LLC \| STRATTEC
Schedule Of Equity Method Investments [Line Items]
STRATTEC's percentage ownership in joint venture		33.30%
SAL LLC
Schedule Of Equity Method Investments [Line Items]
STRATTEC's percentage ownership in joint venture		51.00%	51.00%
Outstanding balance on loan from STRATTEC to equity method investment		$ 2,600,000	$ 2,600,000
Percentage of funding in joint venture through loans	100.00%	100.00%	100.00%
Percentage of losses of joint venture, up to committed financial support, recognized by STRATTEC	100.00%	100.00%	100.00%
SAL LLC \| Westinghouse Agreement
Schedule Of Equity Method Investments [Line Items]
License agreement expired date		Aug. 16, 2018
Guarantor Obligations			$ 250,000
SAL LLC \| Westinghouse Agreement \| STRATTEC
Schedule Of Equity Method Investments [Line Items]
Guarantor Obligations			$ 127,000

Equity Earnings of Joint Ventures (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Summarized statements of operations
STRATTEC’s equity earnings of VAST LLC	$ 2,783	$ 4,532
VAST LLC
Summarized statements of operations
Net sales	161,660	174,896
Cost of goods sold	128,375	134,185
Gross profit	33,285	40,711
Engineering, selling and administrative expense	27,624	26,450
Income from operations	5,661	14,261
Other income, net	3,559	1,757
Income before provision for income taxes	9,220	16,018
Provision for income taxes	1,292	2,632
Net income	7,928	13,386
STRATTEC’s share of VAST LLC net income	2,643	4,463
Intercompany profit eliminations	12	(22)
STRATTEC’s equity earnings of VAST LLC	$ 2,655	$ 4,441

Equity Earnings of Joint Ventures (Details 1) - VAST LLC - USD ($) $ in Thousands	Jun. 30, 2019	Jul. 01, 2018
Summarized balance sheets
Cash and cash equivalents	$ 6,854	$ 8,959
Receivables, net	35,639	43,930
Inventories, net	20,465	20,510
Other current assets	19,701	16,020
Total current assets	82,659	89,419
Property, plant and equipment, net	49,953	42,923
Other long-term assets	16,868	14,974
Total assets	149,480	147,316
Current debt	7,240	8,580
Other current liabilities	63,799	66,140
Long-term debt	5,015	5,143
Other long-term liabilities	2,512	512
Total liabilities	78,566	80,375
Net assets	70,914	66,941
STRATTEC’s share of VAST LLC net assets	$ 23,638	$ 22,314

Equity Earnings of Joint Ventures (Details 2) - Equity Method Investee - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
VAST LLC
Schedule Of Equity Method Investments [Line Items]
Sales to Joint Venture	$ 3,731	$ 3,151
Purchases from VAST LLC	221	183
Expenses charged to VAST LLC	1,594	984
Expenses charged from VAST LLC	834	886
Accounts receivable from joint venture entity	264	53
Accounts payable to VAST LLC	127	87
SAL LLC
Schedule Of Equity Method Investments [Line Items]
Sales to Joint Venture	$ 34	$ 98

Credit Facilities (Details Textual) - USD ($)	12 Months Ended
Credit Facilities (Details Textual) - USD ($)	Jun. 30, 2019	Jul. 01, 2019
STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Secured revolving credit facility	$ 40,000,000
Credit facility maturity date	Aug. 01, 2021
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	$ 30,000,000
Credit facility maturity date	Aug. 01, 2021
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%
ADAC-STRATTEC Credit Facility \| Subsequent Event
Line Of Credit Facility [Line Items]
Secured revolving credit facility		$ 25,000,000

Credit Facilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jul. 01, 2018
Line Of Credit Facility [Line Items]
Outstanding Borrowing	$ 42,000	$ 51,000
STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Outstanding Borrowing	18,000	23,000
ADAC-STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Outstanding Borrowing	$ 24,000	$ 28,000

- Definition

The carrying value as of the balance sheet date of the noncurrent portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Purchase and Minimum Rental Commitments Under Non-Cancelable Operating Leases (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Minimum rental commitments, 2020	$ 539
Minimum rental commitments, 2021	504
Minimum rental commitments, 2022	495
Minimum rental commitments, 2023	498
Minimum rental commitments, 2024-2025	168
Purchase commitments, 2020	8,936
Purchase commitments, 2021	4,945
Purchase commitments, 2022	$ 3,358

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jul. 01, 2018
Currently payable:
Federal	$ 705	$ 156
State	162	73
Foreign	1,515	812
Total current income tax expense	2,382	1,041
Deferred tax provision	(10,122)	1,029
Total tax provision	$ (7,740)	$ 2,070

Income Taxes (Details 1)	12 Months Ended
Income Taxes (Details 1)	Jun. 30, 2019	Jul. 01, 2018
Difference between income taxes computed at the Federal statutory tax rate and the provision for income taxes
U.S. statutory rate	21.00%	28.00%
State taxes, net of Federal tax benefit	3.70%	1.60%
Foreign subsidiaries	(1.80%)	(0.70%)
U.S. tax reform: transition tax	2.70%	(3.00%)
U.S. tax reform: change in deferred rate		(9.30%)
Research and development tax credit	9.40%	(2.50%)
Non-controlling interest	6.70%	(5.60%)
Uncertain tax positions	(2.30%)	2.10%
Stock based compensation	(0.70%)	1.70%
Other	(0.80%)	(0.60%)
Total	37.90%	11.70%

Income Taxes (Details 2) - USD ($) $ in Thousands	Jun. 30, 2019	Jul. 01, 2018
Income Tax Disclosure [Abstract]
Unrecognized pension and postretirement benefit plan liabilities	$ 701	$ 6,887
Accrued warranty	446	517
Payroll-related accruals	2,180	1,959
Stock-based compensation	470	727
Inventory reserve	834	799
Environmental reserve	300	303
Repair and maintenance supply parts reserve	229	212
Allowance for doubtful accounts	118	118
Credit carry-forwards	1,990	248
Postretirement obligations	(416)	(375)
Accumulated depreciation	(5,023)	(4,902)
Accrued pension obligations	(1,578)	(9,235)
Non-cash compensation expense	986
Joint ventures	968	814
Other	728	967
Deferred tax assets, net	$ 2,933
Deferred tax liabilities, net		$ (961)

Income Taxes (Details Textual) - USD ($)	12 Months Ended
Income Taxes (Details Textual) - USD ($)	Jun. 30, 2019	Jul. 01, 2018	Jul. 02, 2017
Income Tax [Line Items]
Federal operating loss and credit carry-forwards	$ 1,800,000
State operating loss and credit carry-forwards	199,000
Valuation allowance	120,000
Foreign income before income taxes	4,000,000.0	$ 1,100,000
Total liability for unrecognized tax benefits including interest	1,200,000	796,000
Unrecognized tax benefits	1,138,000	741,000	$ 571,000
Unrecognized tax benefits, accrued interest	93,000	55,000
Unrecognized tax benefits, would effect tax rate	$ 854,000	$ 375,000
Earliest Tax Year \| Federal
Income Tax [Line Items]
Expiration year of operating loss and credit carry-forwards	2033
Earliest Tax Year \| State
Income Tax [Line Items]
Expiration year of operating loss and credit carry-forwards	2025
Latest Tax Year \| Federal
Income Tax [Line Items]
Expiration year of operating loss and credit carry-forwards	2034
Latest Tax Year \| State
Income Tax [Line Items]
Expiration year of operating loss and credit carry-forwards	2034

Income Taxes (Details 3) - USD ($)	12 Months Ended
Income Taxes (Details 3) - USD ($)	Jun. 30, 2019	Jul. 01, 2018
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Unrecognized tax benefits, beginning of year	$ 741,000	$ 571,000
Gross increases – tax positions in prior years	229,000	101,000
Gross increases – current period tax positions	238,000	126,000
Tax years closed	(70,000)	(57,000)
Unrecognized tax benefits, end of year	$ 1,138,000	$ 741,000

Retirement Plans and Postretirement Costs (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Jul. 02, 2017
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 has 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 contributions for termination of Qualified Pension Plan	$ 0
Non-cash pre-tax settlement charge	31,878,000
Non-cash compensation expense	4,195,000
Remaining additional non-cash compensation expense	4,300,000
Rabbi Trust Assets - SERP	2,900,000	$ 2,800,000
Postretirement plan annual benefit limit for future eligible retirees	$ 4,000
Other postretirement benefits maximum benefit period	5 years
Health care cost trend rate for next fiscal year	7.10%
Ultimate health care cost trend rate	3.00%
401(K) Plan
Defined Benefit Plan Disclosure [Line Items]
Percent of each dollar of eligible employee contributions matched by employer	100.00%
Employer matching contribution to employee up to participant's eligible contribution	5.00%
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
Projected benefit obligation	$ 2,169,000	1,916,000
Expected employer contributions in next fiscal year	509,000
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	914,000	$ 1,041,000	$ 1,268,000
Expected employer contributions in next fiscal year	$ 152,000

Retirement Plans and Postretirement Costs (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jul. 01, 2018
Amounts Included in Accumulated Other Comprehensive Loss, Net of Tax
Total	$ 2,251	$ 18,148
SERP
Amounts Included in Accumulated Other Comprehensive Loss, Net of Tax
Net actuarial loss	225
Total	225
Postretirement
Amounts Included in Accumulated Other Comprehensive Loss, Net of Tax
Prior service credit	(28)
Net actuarial loss	2,054
Total	$ 2,026

Retirement Plans and Postretirement Costs (Details 1) $ in Thousands	Jun. 30, 2019 USD ($)
SERP
Amounts Included in Accumulated Other Comprehensive Loss, Net of Tax
Net actuarial loss	$ 9
Total	9
Postretirement
Amounts Included in Accumulated Other Comprehensive Loss, Net of Tax
Prior service credit	(22)
Net actuarial loss	304
Total	$ 282

Retirement Plans and Postretirement Costs (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
COMPONENTS OF NET PERIODIC BENEFIT COST (CREDIT):
Plan settlements	$ 31,878
CHANGE IN PLAN ASSETS:
Fair value of plan assets at end of year	8,645
CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OTHER COMPREHENSIVE INCOME:
Amortization of prior service (cost) credits	439	$ 752
Amortization of unrecognized net loss	(1,262)	(2,514)
Pension and SERP Benefits
COMPONENTS OF NET PERIODIC BENEFIT COST (CREDIT):
Service cost	62	66
Interest cost	2,101	3,857
Expected return on plan assets	(2,275)	(6,111)
Plan settlements	31,878
Amortization of prior service cost (credit)		12
Amortization of unrecognized net loss	831	2,035
Net periodic benefit cost (credit)	$ 32,597	$ (141)
Benefit Obligations:
Benefit Obligations, Discount rate	3.17%	4.30%
Benefit Obligations, Rate of compensation increases - SERP	3.00%	3.00%
Net Periodic Benefit Cost:
Net Periodic Benefit Cost, Discount rate	4.30%	3.91%
Net Periodic Benefit Cost, Expected return on plan assets		5.45%
Net Periodic Benefit Cost, Rate of compensation increases - SERP	3.00%	3.00%
CHANGE IN PROJECTED BENEFIT OBLIGATION:
Benefit obligation at beginning of year	$ 98,835	$ 101,266
Service cost	62	66
Interest cost	2,101	3,857
Plan settlements	(72,400)
Actuarial gain	5,143	(1,392)
Benefits paid	(31,512)	(4,962)
Benefit obligation at end of year	2,229	98,835
CHANGE IN PLAN ASSETS:
Fair value of plan assets at beginning of year	111,466	112,524
Actual return on plan assets	1,077	3,890
Employer contribution	14	14
Plan settlements	(72,400)
Benefits paid	(31,512)	(4,962)
Fair value of plan assets at end of year	8,645	111,466
Funded status – prepaid (accrued) benefit obligations	6,416	12,631
AMOUNTS RECOGNIZED IN CONSOLIDATED BALANCE SHEETS:
Other long-term assets	8,585	14,547
Accrued payroll and benefits (current liabilities)	(506)	(363)
Accrued benefit obligations (long-term liabilities)	(1,663)	(1,553)
Net amount recognized	6,416	12,631
CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OTHER COMPREHENSIVE INCOME:
Net periodic benefit (credit) cost	32,597	(141)
Net actuarial loss (gain)	(57,414)	828
Plan settlements	31,878
Amortization of prior service (cost) credits		(12)
Amortization of unrecognized net loss	(831)	(2,035)
Total recognized in other comprehensive (income) loss, before tax	(26,367)	(1,219)
Total recognized in net periodic benefit cost and other comprehensive (income) loss, before tax	6,230	(1,360)
Postretirement Benefits
COMPONENTS OF NET PERIODIC BENEFIT COST (CREDIT):
Service cost	11	13
Interest cost	40	45
Amortization of prior service cost (credit)	(439)	(764)
Amortization of unrecognized net loss	431	479
Net periodic benefit cost (credit)	$ 43	$ (227)
Benefit Obligations:
Benefit Obligations, Discount rate	3.17%	4.30%
Net Periodic Benefit Cost:
Net Periodic Benefit Cost, Discount rate	4.30%	3.91%
CHANGE IN PROJECTED BENEFIT OBLIGATION:
Benefit obligation at beginning of year	$ 1,041	$ 1,268
Service cost	11	13
Interest cost	40	45
Actuarial gain	39	(8)
Benefits paid	(217)	(277)
Benefit obligation at end of year	914	1,041
CHANGE IN PLAN ASSETS:
Employer contribution	217	277
Benefits paid	(217)	(277)
Funded status – prepaid (accrued) benefit obligations	(914)	(1,041)
AMOUNTS RECOGNIZED IN CONSOLIDATED BALANCE SHEETS:
Accrued payroll and benefits (current liabilities)	(152)	(215)
Accrued benefit obligations (long-term liabilities)	(762)	(826)
Net amount recognized	(914)	(1,041)
CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OTHER COMPREHENSIVE INCOME:
Net periodic benefit (credit) cost	43	(227)
Net actuarial loss (gain)	39	(8)
Amortization of prior service (cost) credits	439	764
Amortization of unrecognized net loss	(431)	(479)
Total recognized in other comprehensive (income) loss, before tax	47	277
Total recognized in net periodic benefit cost and other comprehensive (income) loss, before tax	$ 90	$ 50

Retirement Plans and Postretirement Costs (Details 5)	Jun. 30, 2019	Jul. 01, 2018
Pension plan weighted-average asset allocations by asset category
Target Allocation	100.00%
Plan assets - actual percentage	100.00%	100.00%
Equity investments
Pension plan weighted-average asset allocations by asset category
Plan assets - actual percentage	0.00%	13.00%
Equity investments \| Minimum
Pension plan weighted-average asset allocations by asset category
Target Allocation	0.00%
Equity investments \| Maximum
Pension plan weighted-average asset allocations by asset category
Target Allocation	50.00%
Fixed-income investments / cash
Pension plan weighted-average asset allocations by asset category
Plan assets - actual percentage	100.00%	87.00%
Fixed-income investments / cash \| Minimum
Pension plan weighted-average asset allocations by asset category
Target Allocation	50.00%
Fixed-income investments / cash \| Maximum
Pension plan weighted-average asset allocations by asset category
Target Allocation	100.00%

Retirement Plans and Postretirement Costs (Details 6) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Summary, by asset category, of the fair value of pension plan assets
Fair value of pension plan assets	$ 8,645	$ 111,466
Level 1
Summary, by asset category, of the fair value of pension plan assets
Fair value of pension plan assets		14,341
Level 2
Summary, by asset category, of the fair value of pension plan assets
Fair value of pension plan assets	8,645	97,125
Cash and Cash Equivalents
Summary, by asset category, of the fair value of pension plan assets
Fair value of pension plan assets	8,645	7,617
Cash and Cash Equivalents \| Level 2
Summary, by asset category, of the fair value of pension plan assets
Fair value of pension plan assets	$ 8,645	7,617
Equity investments, Mid Cap
Summary, by asset category, of the fair value of pension plan assets
Fair value of pension plan assets		4,953
Equity investments, Mid Cap \| Level 1
Summary, by asset category, of the fair value of pension plan assets
Fair value of pension plan assets		4,953
Equity investments, Large Cap
Summary, by asset category, of the fair value of pension plan assets
Fair value of pension plan assets		4,945
Equity investments, Large Cap \| Level 1
Summary, by asset category, of the fair value of pension plan assets
Fair value of pension plan assets		4,945
Equity investments, International
Summary, by asset category, of the fair value of pension plan assets
Fair value of pension plan assets		4,443
Equity investments, International \| Level 1
Summary, by asset category, of the fair value of pension plan assets
Fair value of pension plan assets		4,443
Fixed Income Funds
Summary, by asset category, of the fair value of pension plan assets
Fair value of pension plan assets		89,508
Fixed Income Funds \| Level 2
Summary, by asset category, of the fair value of pension plan assets
Fair value of pension plan assets		$ 89,508

Retirement Plans and Postretirement Costs (Details 8) $ in Thousands	Jun. 30, 2019 USD ($)
SERP
Expected future benefit payments
2020	$ 569
2021	510
2022	403
2023	14
2024	14
2025-2029	550
Postretirement Benefits
Expected future benefit payments
2020	152
2021	135
2022	127
2023	108
2024	93
2025-2029	$ 221

Shareholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Equity [Abstract]
Common stock, shares authorized	12,000,000	12,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares outstanding	3,691,555	3,635,203
Number of shares authorized to be repurchased	3,839,395
Number of shares repurchased to date	3,655,322
Cost of shares repurchased to date	$ 136.4
Number of shares repurchased during period	0	0

(Loss) Earnings Per Share (''EPS'') (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jul. 01, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jun. 30, 2019	Jul. 01, 2018
Reconciliation of the components of the basic and diluted per share
Net (loss) income attributable to STRATTEC	$ (62)	$ 1,730	$ (22,164)	$ 3,467	$ 3,976	$ 2,969	$ 2,882	$ 2,456	$ (17,029)	$ 12,283
Weighted average shares of common stock outstanding									3,676	3,628
Incremental shares – stock based compensation										75
Diluted weighted average shares of common stock Outstanding									3,676	3,703
Basic earnings per share	$ (0.02)	$ 0.47	$ (6.03)	$ 0.95	$ 1.09	$ 0.82	$ 0.79	$ 0.68	$ (4.63)	$ 3.39
Diluted earnings per share	$ (0.02)	$ 0.46	$ (5.96)	$ 0.93	$ 1.07	$ 0.80	$ 0.78	$ 0.67	$ (4.63)	$ 3.32

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Stock Option and Purchase Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Share Based Compensation [Abstract]
Shares, Beginning Balance	133,074	138,508
Shares, Exercised	(15,714)	(5,434)
Shares, Ending Balance	117,360	133,074
Shares, Exercisable	117,360	133,074
Weighted Average Exercise Price, Beginning Balance	$ 29.37	$ 29.23
Weighted Average Exercise Price, Exercised	10.92	25.64
Weighted Average Exercise Price, Ending Balance	31.85	29.37
Weighted Average Exercise Price, Exercisable	$ 31.85	$ 29.37
Weighted Average Remaining Contractual Term, Outstanding, June 30 , 2019	2 years 8 months 12 days
Weighted Average Remaining Contractual Term, Exercisable	2 years 8 months 12 days	3 years 4 months 24 days
Aggregate Intrinsic Value, Outstanding, June 30, 2019	$ 162
Aggregate Intrinsic Value, Exercisable	$ 162	$ 862

Stock Option and Purchase Plans (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Jul. 02, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options, granted	0	0	0
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum Contribution per participant per calendar year	$ 5,200
Maximum number of shares authorized for issuance from treasury under the Employee Stock Purchase Plan	100,000
Employee stock purchase plan average price of shares purchased during period	$ 30.13	$ 37.06
Shares available for issuance from treasury under the Employee Stock Purchase plan	58,117
Employee Stock Purchase Plan \| Treasury Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued under stock purchase plan	3,295	2,753

Stock Option and Purchase Plans (Details 2) - Restricted stock - $ / shares	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Nonvested, Shares Beginning Balance	69,125	75,850
Granted, Shares	34,050	27,950
Vested, Shares	(37,343)	(30,400)
Forfeited, Shares	(2,075)	(4,275)
Nonvested, Shares Ending Balance	63,757	69,125
Nonvested, Weighted Average Grant Date Fair Value Beginning Balance	$ 49.02	$ 60.61
Granted, Weighted Average Grant Date Fair Value	37.25	33.30
Vested, Weighted Average Grant Date Fair Value	54.93	62.99
Forfeited, Weighted Average Grant Date Fair Value	43.52	52.47
Nonvested, Weighted Average Grant Date Fair Value Ending Balance	$ 39.47	$ 49.02

Export Sales (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Export Sales (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jul. 01, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jun. 30, 2019	Jul. 01, 2018
Concentration Risk [Line Items]
Net Sales	$ 128,704	$ 128,230	$ 112,913	$ 117,159	$ 116,730	$ 116,823	$ 103,182	$ 102,460	$ 487,006	$ 439,195
Export Sales
Concentration Risk [Line Items]
Net Sales									$ 160,771	$ 157,862
Export Sales \| Sales Revenue Net \| Geographic Concentration Risk
Concentration Risk [Line Items]
Percentage of Export Sales									33.00%	36.00%
Canada \| Geographic Concentration Risk
Concentration Risk [Line Items]
Net Sales									$ 67,516	$ 70,920
Canada \| Sales Revenue Net \| Geographic Concentration Risk
Concentration Risk [Line Items]
Percentage of Export Sales									14.00%	16.00%

Product Sales (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Product Sales (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jul. 01, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jun. 30, 2019	Jul. 01, 2018
Product Information [Line Items]
Net Sales	$ 128,704	$ 128,230	$ 112,913	$ 117,159	$ 116,730	$ 116,823	$ 103,182	$ 102,460	$ 487,006	$ 439,195
Sales \| Product Concentration Risk
Product Information [Line Items]
Percentage of Net Sales									100.00%	100.00%
Keys & Locksets
Product Information [Line Items]
Net Sales									$ 135,413	$ 118,256
Keys & Locksets \| Sales \| Product Concentration Risk
Product Information [Line Items]
Percentage of Net Sales									28.00%	27.00%
Door Handles & Exterior Trim
Product Information [Line Items]
Net Sales									$ 116,977	$ 88,788
Door Handles & Exterior Trim \| Sales \| Product Concentration Risk
Product Information [Line Items]
Percentage of Net Sales									24.00%	20.00%
Power Access
Product Information [Line Items]
Net Sales									$ 92,744	$ 86,380
Power Access \| Sales \| Product Concentration Risk
Product Information [Line Items]
Percentage of Net Sales									19.00%	20.00%
Latches
Product Information [Line Items]
Net Sales									$ 49,147	$ 42,381
Latches \| Sales \| Product Concentration Risk
Product Information [Line Items]
Percentage of Net Sales									10.00%	9.00%
Aftermarket & OE Service
Product Information [Line Items]
Net Sales									$ 44,254	$ 43,311
Aftermarket & OE Service \| Sales \| Product Concentration Risk
Product Information [Line Items]
Percentage of Net Sales									9.00%	10.00%
Driver Controls
Product Information [Line Items]
Net Sales									$ 40,942	$ 51,817
Driver Controls \| Sales \| Product Concentration Risk
Product Information [Line Items]
Percentage of Net Sales									8.00%	12.00%
Other
Product Information [Line Items]
Net Sales									$ 7,529	$ 8,262
Other \| Sales \| Product Concentration Risk
Product Information [Line Items]
Percentage of Net Sales									2.00%	2.00%

Sales and Receivable Concentration (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jul. 01, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jun. 30, 2019	Jul. 01, 2018
Sales to largest customers
Net Sales	$ 128,704	$ 128,230	$ 112,913	$ 117,159	$ 116,730	$ 116,823	$ 103,182	$ 102,460	$ 487,006	$ 439,195
Customer Concentration Risk
Sales to largest customers
Net Sales									$ 291,356	$ 260,904
Customer Concentration Risk \| Sales Revenue Net
Sales to largest customers
Percentage of Net Sales									60.00%	59.00%
Fiat Chrysler Automobiles \| Customer Concentration Risk
Sales to largest customers
Net Sales									$ 115,304	$ 110,650
Fiat Chrysler Automobiles \| Customer Concentration Risk \| Sales Revenue Net
Sales to largest customers
Percentage of Net Sales									24.00%	25.00%
General Motors Company \| Customer Concentration Risk
Sales to largest customers
Net Sales									$ 112,719	$ 85,827
General Motors Company \| Customer Concentration Risk \| Sales Revenue Net
Sales to largest customers
Percentage of Net Sales									23.00%	20.00%
Ford Motor Company \| Customer Concentration Risk
Sales to largest customers
Net Sales									$ 63,333	$ 64,427
Ford Motor Company \| Customer Concentration Risk \| Sales Revenue Net
Sales to largest customers
Percentage of Net Sales									13.00%	14.00%

Sales and Receivable Concentration (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Receivables from largest customers
Receivables	$ 84,230	$ 73,832
Customer Concentration Risk
Receivables from largest customers
Receivables	$ 41,896	$ 43,811
Customer Concentration Risk \| Accounts Receivable
Receivables from largest customers
Percentage of Gross Receivables	50.00%	59.00%
Fiat Chrysler Automobiles \| Customer Concentration Risk
Receivables from largest customers
Receivables	$ 19,151	$ 19,908
Fiat Chrysler Automobiles \| Customer Concentration Risk \| Accounts Receivable
Receivables from largest customers
Percentage of Gross Receivables	23.00%	27.00%
General Motors Company \| Customer Concentration Risk
Receivables from largest customers
Receivables	$ 12,754	$ 16,366
General Motors Company \| Customer Concentration Risk \| Accounts Receivable
Receivables from largest customers
Percentage of Gross Receivables	15.00%	22.00%
Ford Motor Company \| Customer Concentration Risk
Receivables from largest customers
Receivables	$ 9,991	$ 7,537
Ford Motor Company \| Customer Concentration Risk \| Accounts Receivable
Receivables from largest customers
Percentage of Gross Receivables	12.00%	10.00%

Summary of Selected Quarterly Financial Data (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018	Sep. 30, 2018	Jul. 01, 2018	Apr. 01, 2018	Dec. 31, 2017	Oct. 01, 2017	Jun. 30, 2019	Jul. 01, 2018
Quarterly Financial Information Disclosure [Abstract]
Net Sales	$ 128,704	$ 128,230	$ 112,913	$ 117,159	$ 116,730	$ 116,823	$ 103,182	$ 102,460	$ 487,006	$ 439,195
Gross Profit	14,199	15,682	12,736	15,183	13,137	15,197	12,646	13,463	57,800	54,443
Net Income (Loss) Attributable to STRATTEC	$ (62)	$ 1,730	$ (22,164)	$ 3,467	$ 3,976	$ 2,969	$ 2,882	$ 2,456	$ (17,029)	$ 12,283
Basic	$ (0.02)	$ 0.47	$ (6.03)	$ 0.95	$ 1.09	$ 0.82	$ 0.79	$ 0.68	$ (4.63)	$ 3.39
Diluted	$ (0.02)	$ 0.46	$ (5.96)	$ 0.93	$ 1.07	$ 0.80	$ 0.78	$ 0.67	$ (4.63)	$ 3.32

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Statement Of Stockholders Equity [Abstract]
Pension and postretirement funded status adjustment tax impact	$ 6,101	$ 340
Cash dividends declared per share	$ 0.56	$ 0.56

Organization and Summary of Significant Accounting Policies - Fair Market Value of All Outstanding Peso Forward Contracts (Details) $ in Thousands	Jul. 01, 2018 USD ($)
Other Current Liabilities \| Mexican Peso Forward Contracts
Not designated as hedging instruments:
Fair market value of derivative instruments	$ 39

Organization and Summary of Significant Accounting Policies - Inventory Purchase from Major Suppliers (Details) - Supplier	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Supplier Concentrations
Percentage of inventory purchases from major suppliers	39.00%	32.00%
Number of major Suppliers	7	5

Organization and Summary of Significant Accounting Policies - Schedule of Unrecognized Compensation Cost (Details) - Restricted stock $ in Thousands	12 Months Ended
	Jun. 30, 2019 USD ($)
Unrecognized compensation cost related to restricted stock granted under the plan
Compensation Cost	$ 1,128
Weighted Average Period Over Which Cost is to be Recognized (in years)	10 months 24 days

Organization and Summary of Significant Accounting Policies - Pre-Tax Effects of the Peso Forward Contracts (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Pre-tax effects of the Mexican peso forward contracts
Realized gain	$ 485	$ 1,140
Unrealized gain (loss)	39	(1,160)
Not Designated as Hedging Instrument \| Other (Expense) Income, Net
Pre-tax effects of the Mexican peso forward contracts
Realized gain	485	1,140
Unrealized gain (loss)	$ 39	$ (1,160)

Organization and Summary of Significant Accounting Policies - Property, Plant and Equipment, Useful Lives of Assets (Details)	12 Months Ended
	Jun. 30, 2019
Land improvements
Estimated useful lives of the assets
Expected Useful Lives	20 years
Buildings and improvements \| Minimum
Estimated useful lives of the assets
Expected Useful Lives	15 years
Buildings and improvements \| Maximum
Estimated useful lives of the assets
Expected Useful Lives	35 years
Machinery and equipment \| Minimum
Estimated useful lives of the assets
Expected Useful Lives	3 years
Machinery and equipment \| Maximum
Estimated useful lives of the assets
Expected Useful Lives	15 years

Organization and Summary of Significant Accounting Policies - Cash Received from Stock Option Exercises and Related Income Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Cash Received From Stock Option Exercises And Related Income Tax Benefit
Cash Received from Stock Option Exercises	$ 172	$ 139
Income Tax Benefit	$ 76

Organization and Summary of Significant Accounting Policies - Intrinsic Value of Stock Options Exercised and Fair Value Of Stock Options Vested (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Intrinsic value of stock options exercised and the fair value of stock options vested
Intrinsic value of options exercised	$ 324	$ 110
Fair value of stock options vested		$ 315

Equity Earnings of Joint Ventures (Parenthetical) (Details 2) - SAL LLC - Equity Method Investee - USD ($)	Jun. 30, 2019	Jul. 01, 2018
Schedule Of Equity Method Investments [Line Items]
Outstanding loan due from SAL LLC to STRATTEC	$ 2,600,000	$ 2,600,000
Accounts receivable balances due from SAL LLC to STRATTEC	$ 82,000	$ 82,000

Credit Facilities (Details 1) - USD ($) $ in Thousands	12 Months Ended
Credit Facilities (Details 1) - USD ($) $ in Thousands	Jun. 30, 2019	Jul. 01, 2018
STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Average Outstanding Borrowings	$ 21,212	$ 21,668
Weighted Average Interest Rate	3.30%	2.50%
ADAC-STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Average Outstanding Borrowings	$ 25,901	$ 22,621
Weighted Average Interest Rate	3.40%	2.50%

Retirement Plans and Postretirement Costs (Details 3) - USD ($) $ in Thousands	Jun. 30, 2019	Jul. 01, 2018
Pension
Accumulated Benefit Obligations and Projected Benefit Obligations
Accumulated benefit obligation	$ 60	$ 96,919
Projected benefit obligation	60	96,919
SERP
Accumulated Benefit Obligations and Projected Benefit Obligations
Accumulated benefit obligation	1,981	1,749
Projected benefit obligation	$ 2,169	$ 1,916

Retirement Plans and Postretirement Costs (Details 4) $ in Thousands	12 Months Ended
	Jun. 30, 2019 USD ($)
Significant Effect of Health Care Trend on the Postretirement Benefit
Effect on postretirement benefit obligation as of July 1, 2018, 1% Increase	$ 3
Effect on postretirement benefit obligation as of July 1, 2018, 1% Decrease	$ (3)

(Loss) Earnings Per Share (''EPS'') (Details 1) - shares	12 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive options excluded from earnings per share computation	181,117	41,200