Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Dec. 30, 2018	Dec. 31, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	STRATTEC SECURITY CORP
Entity Central Index Key	0000933034
Document Type	10-Q
Document Period End Date	Dec. 30, 2018
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Trading Symbol	STRT
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock Shares Outstanding		3,741,786

Condensed Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 30, 2018	Dec. 31, 2017	Dec. 30, 2018	Dec. 31, 2017
Income Statement [Abstract]
Net sales	$ 112,913	$ 103,182	$ 230,072	$ 205,642
Cost of goods sold	100,177	90,536	202,153	179,533
Gross profit	12,736	12,646	27,919	26,109
Engineering, selling and administrative expenses	10,470	10,152	21,501	20,194
Income from operations	2,266	2,494	6,418	5,915
Interest income		3		7
Equity earnings of joint ventures	1,476	1,473	2,385	2,499
Interest expense	(404)	(253)	(811)	(456)
Pension Termination Settlement Charge	(32,434)		(32,434)
Other (expense) income, net	(262)	109	(507)	196
(Loss) income before (benefit) provision for income taxes and non-controlling interest	(29,358)	3,826	(24,949)	8,161
(Benefit) provision for income taxes	(7,760)	(9)	(7,780)	1,057
Net (loss) income	(21,598)	3,835	(17,169)	7,104
Net income attributable to non-controlling Interest	566	953	1,528	1,766
Net (loss) income attributable to STRATTEC SECURITY CORPORATION	(22,164)	2,882	(18,697)	5,338
Comprehensive (Loss) Income:
Net (loss) income	(21,598)	3,835	(17,169)	7,104
Pension and postretirement plans, net of tax	19,677	277	19,993	555
Currency translation adjustments	(1,829)	(2,591)	(998)	(2,294)
Other comprehensive income (loss), net of tax	17,848	(2,314)	18,995	(1,739)
Comprehensive (loss) income	(3,750)	1,521	1,826	5,365
Comprehensive income attributable to non- controlling interest	69	80	1,685	815
Comprehensive (loss) income attributable to STRATTEC SECURITY CORPORATION	$ (3,819)	$ 1,441	$ 141	$ 4,550
(Loss) earnings per share attributable to STRATTEC SECURITY CORPORATION:
Basic	$ (6.03)	$ 0.79	$ (5.10)	$ 1.47
Diluted	$ (5.96)	$ 0.78	$ (5.03)	$ 1.44
Average shares outstanding:
Basic	3,675	3,631	3,663	3,621
Diluted	3,718	3,715	3,715	3,698
Cash dividends declared per share	$ 0.14	$ 0.14	$ 0.28	$ 0.28

Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands

Dec. 30, 2018

Jul. 01, 2018

Current Assets:

Cash and cash equivalents

$ 11,373

^[1]

$ 8,090

Receivables, net

67,256

^[1]

73,832

Inventories:

Finished products

14,730

^[1]

13,410

Work in process

11,182

^[1]

10,059

Purchased materials

26,180

^[1]

27,185

Excess and obsolete reserve

(4,104)

^[1]

(4,000)

Inventories, net

47,988

^[1]

46,654

Other current assets

19,707

^[1]

22,527

Total current assets

146,324

^[1]

151,103

Investment in joint ventures

22,989

^[1]

22,192

Deferred Income Taxes

^[1]

1,112

Other long-term assets

10,620

^[1]

17,338

Property, plant and equipment

278,589

^[1]

269,716

Less: accumulated depreciation

(160,796)

^[1]

(153,174)

Net property, plant and equipment

117,793

^[1]

116,542

Total assets

298,838

^[1]

307,175

Current Liabilities:

Accounts payable

35,652

^[1]

38,439

Accrued Liabilities:

Payroll and benefits

12,482

^[1]

13,393

Environmental

1,287

^[1]

1,291

Warranty

7,921

^[1]

7,800

Other

8,582

^[1]

7,870

Total current liabilities

65,924

^[1]

68,793

Borrowings under credit facilities

46,000

^[1]

51,000

Deferred income taxes

961

Accrued pension obligations

1,615

^[1]

1,553

Accrued postretirement obligations

723

^[1]

826

Other long-term liabilities

819

^[1]

796

Shareholders’ Equity:

Common stock, authorized 12,000,000 shares, $.01 par value, 7,292,194 issued shares at December 30, 2018 and 7,251,937 issued shares at July 1, 2018

^[1]

Capital in excess of par value

95,818

^[1]

95,140

Retained earnings

220,483

^[1]

236,162

Accumulated other comprehensive loss

(18,648)

^[1]

(33,439)

Less: treasury stock, at cost (3,615,515 shares at December 30, 2018 and 3,616,734 shares at July 1,2018)

(135,758)

^[1]

(135,778)

Total STRATTEC SECURITY CORPORATION shareholders’ equity

161,968

^[1]

162,158

Non-controlling interest

21,789

^[1]

21,088

Total shareholders’ equity

183,757

^[1]

183,246

Total liabilities and shareholders' equity

$ 298,838

^[1]

$ 307,175

[1]

Unaudited

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares

Dec. 30, 2018

^[1]

Jul. 01, 2018

Statement Of Financial Position [Abstract]

Common stock, shares authorized

12,000,000

Common stock, par value

$ 0.01

Common stock, shares issued

7,292,194

7,251,937

Treasury stock, shares

3,615,515

3,616,734

[1]

Unaudited

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 30, 2018	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (17,169)	$ 7,104
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	8,123	6,667
Foreign currency transaction loss (gain)	69	(419)
Unrealized (gain) loss on peso forward contracts	(93)	1,079
Stock based compensation expense	626	621
Equity earnings of joint ventures	(2,385)	(2,499)
Pension Termination Settlement Charge	32,434
Deferred income taxes	(8,131)	(1,710)
Change in operating assets and liabilities:
Receivables	7,291	4,330
Inventories	(1,334)	(6,811)
Other assets	3,729	(4,813)
Accounts payable and accrued liabilities	(3,154)	(2,478)
Other, net	(284)	(33)
Net cash provided by operating activities	19,722	1,038
CASH FLOWS FROM INVESTING ACTIVITIES:
Repayment from loan to joint ventures		150
Purchase of property, plant and equipment	(9,402)	(14,349)
Proceeds received on sale of property, plant, and equipment	12	2
Net cash used in investing activities	(9,390)	(14,197)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under credit facility	2,000	18,000
Repayment of borrowings under credit facility	(7,000)	(2,000)
Dividends paid to non-controlling interests of subsidiaries	(984)	(2,017)
Dividends paid	(1,029)	(1,017)
Exercise of stock options and employee stock purchases	72	190
Net cash (used in) provided by financing activities	(6,941)	13,156
Foreign currency impact on cash	(108)	27
NET INCREASE IN CASH AND CASH EQUIVALENTS	3,283	24
CASH AND CASH EQUIVALENTS
Beginning of period	8,090	8,361
End of period	11,373	8,385
Cash paid during the period for:
Income taxes	199	1,351
Interest	813	424
Non-cash investing activities:
Change in capital expenditures in accounts payable	$ (395)	$ (1,228)

Basis of Financial Statements

6 Months Ended

Dec. 30, 2018

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Basis of Financial Statements

STRATTEC SECURITY CORPORATION designs, develops, manufactures and markets automotive access control products including mechanical locks and keys, electronically enhanced locks and keys, steering column and instrument panel ignition lock housings, latches, power sliding door systems, power lift gate systems, power deck lid systems, door handles and related products for primarily North American automotive customers. We also supply global automotive manufacturers through a unique strategic relationship with WITTE Automotive (“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 exists to introduce a new generation of 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 condensed consolidated financial statements reflect the consolidated results of STRATTEC SECURITY CORPORATION, its wholly owned Mexican subsidiary, STRATTEC de Mexico, and its majority owned subsidiaries, ADAC-STRATTEC, LLC and STRATTEC POWER ACCESS LLC. STRATTEC SECURITY CORPORATION is located in Milwaukee, Wisconsin. STRATTEC de Mexico is located in Juarez, Mexico. ADAC-STRATTEC, LLC and STRATTEC POWER ACCESS LLC have operations in El Paso, Texas and Juarez and Leon, Mexico. Equity investments in Vehicle Access Systems Technology LLC (“VAST LLC”) 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 three wholly owned subsidiaries in China, one wholly owned subsidiary in Brazil and one joint venture entity in India. The results of the VAST LLC foreign subsidiaries and joint venture are reported on a one-month lag basis. SAL LLC is located in El Paso, Texas. We have only one reporting segment.

In the opinion of management, the accompanying condensed consolidated balance sheets as of December 30, 2018 and July 1, 2018, which have been derived from our audited financial statements, and the related unaudited interim condensed consolidated financial statements included herein contain all adjustments, consisting only of normal recurring items, necessary for their fair presentation in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and in accordance with Rule 10-01 of Regulation S-X. All significant intercompany transactions have been eliminated.

Interim financial results are not necessarily indicative of operating results for an entire year. The information included in this Form 10-Q should be read in conjunction with the financial statements and notes thereto included in the STRATTEC SECURITY CORPORATION 2018 Annual Report, which was filed with the Securities and Exchange Commission as an exhibit to our Form 10-K on September 6, 2018.

New Accounting Standards

6 Months Ended

Dec. 30, 2018

Accounting Changes And Error Corrections [Abstract]

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 Condensed Consolidated Balance Sheet increased Receivables, net by $1.2 million, with a corresponding increase to Accrued Liabilities: Other. Refer to the discussion of Revenue from Contracts with Customers included in these Notes to Condensed Consolidated 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 do not expect that the adoption of this pronouncement will have a material impact on our consolidated financial statements.

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 February 2018, the FASB issued guidance on the reclassification of certain tax effects from accumulated other comprehensive income. The guidance permits 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 those 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.

Derivative Instruments

6 Months Ended

Dec. 30, 2018

Derivative Instruments And Hedging Activities Disclosure [Abstract]

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 three and six month periods ended December 30, 2018 and December 1, 2017, 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 condensed consolidated financial statements at fair value and changes in the fair value are reported in current earnings as part of Other (Expense) Income, net.

The following table quantifies the outstanding Mexican peso forward contracts as of December 30, 2018 (thousands of dollars, except average forward contractual exchange rates):

		Effective Dates		Notional Amount				Average Forward Contractual Exchange Rate				Fair Value
Buy MXP/Sell USD		January 15, 2019 - June 13, 2019		$	4,500				20.22			$	54

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

	December 30, 2018		July 1, 2018
Not Designated as Hedging Instruments:
Other Current Assets (Liabilities):
Mexican Peso Forward Contracts	$	54	$	(39	)

The pre-tax effects of the Mexican peso forward contracts are included in Other (Expense) Income, net on the accompanying Condensed Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income and consisted of the following (thousands of dollars):

	Three Months Ended						Six Months Ended
	December 30, 2018			December 31, 2017			December 30, 2018		December 31, 2017
Not Designated as Hedging Instruments:
Realized Gain	$	50		$	201		$	222	$	659
Unrealized (Loss) Gain	$	(132	)	$	(821	)	$	93	$	(1,079	)

Fair Value of Financial Instruments

6 Months Ended

Dec. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

The fair value of our cash and cash equivalents, accounts receivable, accounts payable and borrowings under our credit facility approximated book value as of December 30, 2018 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 in an orderly transaction between market participants on the measurement date.

The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of December 30, 2018 (in thousands):

	Fair Value Inputs
	Level 1 Assets: Quoted Prices In Active Markets		Level 2 Assets: Observable Inputs Other Than Market Prices		Level 3 Assets: Unobservable Inputs
Assets:
Rabbi Trust Assets:
Stock Index Funds:
Small Cap	$	229	$	—	$	—
Mid Cap		238		—		—
Large Cap		493		—		—
International		759		—		—
Fixed Income Funds		866		—		—
Cash and Cash Equivalents		—		6		—
Mexican Peso Forward Contracts		—		54		—
Total Assets at Fair Value	$	2,585	$	60	$	—

The Rabbi Trust assets fund our amended and restated supplemental executive retirement plan and are included in Other Long-term Assets in the accompanying Condensed Consolidated Balance Sheets. 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 U.S. dollar and Mexican peso. There were no transfers between Level 1 and Level 2 assets during the six month period ended December 30, 2018.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Equity Earnings of Joint Ventures

6 Months Ended

Dec. 30, 2018

Equity Method Investments And Joint Ventures [Abstract]

Equity Earnings of Joint Ventures

We hold a one-third interest in a joint venture company, VAST LLC, with WITTE and ADAC. VAST LLC exists to seek opportunities to manufacture and sell all three companies’ products in areas of the world outside of North America and Europe. Our investment in VAST LLC, for which we exercise significant influence but do not control and are not the primary beneficiary, is accounted for using the equity method.

The following are summarized statements of operations for VAST LLC (in thousands):

	Three Months Ended						Six Months Ended
	December 30, 2018			December 31, 2017			December 30, 2018			December 31, 2017
Net Sales	$	47,719		$	45,333		$	87,775		$	83,843
Cost of Goods Sold		37,768			35,263			68,870			64,276
Gross Profit		9,951			10,070			18,905			19,567
Engineering, Selling and Administrative Expenses		6,719			6,325			12,869			12,346
Income From Operations		3,232			3,745			6,036			7,221
Other Income, net		1,907			636			2,304			786
Income before Provision for Income Taxes		5,139			4,381			8,340			8,007
Provision for Income Taxes		658			162			1,125			684
Net Income	$	4,481		$	4,219		$	7,215		$	7,323
STRATTEC’s Share of VAST LLC Net Income	$	1,494		$	1,406		$	2,405		$	2,441
Intercompany Profit Elimination		(7	)		(2	)		(3	)		(2	)
STRATTEC’s Equity Earnings of VAST LLC	$	1,487		$	1,404		$	2,402		$	2,439

We hold a 51% ownership interest in a joint venture company, SAL LLC, which was formed to introduce a new generation of biometric security products based upon the designs of Actuator Systems LLC, our partner. SAL LLC is considered a variable interest entity based on 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.

Loans were made from STRATTEC to SAL LLC in support of operating expenses and working capital needs. The outstanding loan amounts totaled $2.6 million as of December 30, 2018 and July 1, 2018. As of each balance sheet date, the outstanding loan amount was eliminated against STRATTEC’s 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 recognized 100 percent of the losses of SAL LLC up to our committed financial support through Equity Earnings of Joint Ventures in the accompanying Condensed Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income for all periods presented in this report. STRATTEC’s equity loss of SAL LLC totaled $11,000 and $17,000 for the three and six month periods ended December 30, 2018, respectively. STRATTEC’s equity earnings of SAL LLC totaled $69,000 and $60,000 for the three and six month periods ended December 31, 2017, respectively.

The business of SAL LLC has been wound down to sell only commercial biometric locks.

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 to us from VAST LLC for general headquarters expenses. The following table summarizes these related party transactions with VAST LLC and SAL LLC for the periods indicated below (in thousands):

	Three Months Ended				Six Months Ended
	December 30, 2018		December 31, 2017		December 30, 2018		December 31, 2017
Sales to VAST LLC	$	1,375	$	987	$	1,873	$	1,583
Sales to SAL LLC	$	—	$	147	$	—	$	182
Purchases from VAST LLC	$	86	$	84	$	128	$	129
Expenses Charged to VAST LLC	$	434	$	171	$	779	$	383
Expenses Charged from VAST LLC	$	229	$	312	$	436	$	530

Credit Facilities

6 Months Ended

Dec. 30, 2018

Debt Disclosure [Abstract]

Credit Facilities

STRATTEC has a $40 million secured revolving credit facility (the “STRATTEC Credit Facility”) with BMO Harris Bank. 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 credit facilities both expire August 1, 2021. The ADAC-STRATTEC Credit Facility borrowing limit decreases to $25 million effective July 1, 2019. Borrowings under either credit facility are secured by our U.S. cash balances, accounts receivable, inventory, and fixed assets. Interest on borrowings under the STRATTEC Credit Facility 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 the LIBOR plus 1.25 percent or the bank’s prime rate. Both credit facilities contain a restrictive financial covenant that requires the applicable borrower to maintain a minimum net worth level. The ADAC-STRATTEC Credit Facility includes an additional restrictive financial covenant that requires the maintenance of a minimum fixed charge coverage ratio. As of December 30, 2018, we were in compliance with all financial covenants required by these credit facilities.

Outstanding borrowings under the credit facilities were as follows (in thousands):

December 30,

2018

July 1,

2018

STRATTEC Credit Facility

21,000

23,000

ADAC-STRATTEC Credit Facility

25,000

28,000

Average outstanding borrowings and the weighted average interest rate under each credit facility referenced above were as follows for each period presented (in thousands):

	Six Months Ended
	Average Outstanding Borrowings				Weighted Average Interest Rate
	December 30, 2018		December 31, 2017		December 30, 2018			December 31, 2017
STRATTEC Credit Facility	$	23,319	$	20,308		3.2	%		2.3	%
ADAC-STRATTEC Credit Facility	$	26,929	$	18,082		3.2	%		2.4	%

Commitments and Contingencies

6 Months Ended

Dec. 30, 2018

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

We are from time to time subject to various legal actions and claims incidental to our business, including those arising out of alleged defects, alleged breaches of contracts, product warranties, intellectual property matters and employment related matters. It is our opinion that the outcome of such matters will not have a material adverse impact on our consolidated financial position, results of operations or cash flows. With respect to warranty matters, although we cannot ensure that future costs of warranty claims by customers will not be material, we believe our established reserves are adequate to cover potential warranty settlements.

In 1995, we recorded a provision of $3 million for estimated costs to remediate an environmental contamination site at our Milwaukee facility. The facility was contaminated by a solvent spill, which occurred in 1985, from a former above ground solvent storage tank located on the east side of the facility. The reserve was originally established based on third party estimates to adequately cover the cost for active remediation of the contamination. Due to changing technology and related costs associated with active remediation of the contamination, in fiscal 2010, the reserve was adjusted based on updated third party estimates to adequately cover the cost for active remediation of the contamination. Additionally, in fiscal 2016, we obtained updated third party estimates for adequately covering the cost for active remediation of this contamination. Based upon the updated estimates, no further adjustment to the reserve was required. From 1995 through December 30, 2018, costs of approximately $588,000 have been incurred related to the installation of monitoring wells on the property and ongoing monitoring costs. We monitor and evaluate the site with the use of these groundwater monitoring wells. An environmental consultant samples these wells one or two times a year to determine the status of the contamination and the potential for remediation of the contamination by natural attenuation, the dissipation of the contamination over time to concentrations below applicable standards. If such sampling evidences a sufficient degree of and trend toward natural attenuation of the contamination at the site, we may be able to obtain a closure letter from the regulatory authorities resolving the issue without the need for active remediation. If a sufficient degree and trend toward natural attenuation is not evidenced by sampling, a more active form of remediation beyond natural attenuation may be required. The sampling has not yet satisfied all of the requirements for closure by natural attenuation. As a result, sampling continues and the reserve remains at an amount to reflect our estimated cost of active remediation. The reserve is not measured on a discounted basis. We believe, based on findings-to-date and known environmental regulations, that the remaining environmental reserve of $1.3 million at December 30, 2018 is adequate.

Shareholders' Equity

6 Months Ended

Dec. 30, 2018

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

A summary of activity impacting shareholders’ equity for the three and six month periods ended December 30, 2018 and December 31, 2017 were as follows (in thousands):

	Three Months Ended December 30, 2018
	Total Shareholders’ Equity			Common Stock		Capital in Excess of Par Value		Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Stock			Non-Controlling Interest
Balance, September 30, 2018	$	187,932		$	73	$	95,537	$	239,115		$	(32,946	)	$	(135,767	)	$	21,920
Net Loss		(21,598	)		—		—		(22,164	)		—			—			566
Dividend Declared		(515	)		—		—		(515	)		—			—			—
Dividend Declared – Non- controlling Interests of Subsidiaries		(200	)		—		—		—			—			—			(200	)
Translation adjustments		(1,829	)									(1,332	)					(497	)
Stock Based Compensation		241			—		241		—			—			—			—
Pension and Postretirement Adjustment, Net of Tax		19,677			—		—		—			19,677			—			—
Reclassification of Stranded Tax Effects		-			—		—		4,047			(4,047	)		—			—
Stock Option Exercises		32			—		32		—			—			—			—
Employee Stock Purchases		17			—		8		—			—			9			—
Balance, December 30, 2018	$	183,757		$	73	$	95,818	$	220,483		$	(18,648	)	$	(135,758	)	$	21,789

	Three Months Ended December 31, 2017
	Total Shareholders’ Equity			Common Stock		Capital in Excess of Par Value		Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Stock			Non-Controlling Interest
Balance, October 1, 2017	$	174,429		$	72	$	94,198	$	227,861		$	(32,235	)	$	(135,811	)	$	20,344
Net Income		3,835			—		—		2,882			—			—			953
Dividend Declared		(509	)		—		—		(509	)		—			—			—
Dividend Declared – Non- controlling Interests of Subsidiaries		-			—		—		—			—			—			—
Translation adjustments		(2,591	)		—		—		—			(1,718	)		—			(873	)
Stock Based Compensation		250			—		250		—						—			—
Pension and Postretirement Adjustment, Net of Tax		277			—				—			277			—			—
Stock Option Exercises		139			—		139		—			—			—			—
Employee Stock Purchases		26			—		16		—						10			—
Balance, December 31, 2017	$	175,856		$	72	$	94,603	$	230,234		$	(33,676	)	$	(135,801	)	$	20,424

	Six Months Ended December 30, 2018
	Total Shareholders’ Equity			Common Stock		Capital in Excess of Par Value		Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Stock			Non-Controlling Interest
Balance, July 1, 2018	$	183,246		$	73	$	95,140	$	236,162		$	(33,439	)	$	(135,778	)	$	21,088
Net Loss		(17,169	)		—		—		(18,697	)		—			—			1,528
Dividend Declared		(1,029	)		—		—		(1,029	)		—			—			—
Dividend Declared – Non- controlling Interests of Subsidiaries		(984	)		—		—		—			—			—			(984	)
Translation adjustments		(998	)		—		—					(1,155	)		—			157
Stock Based Compensation		626			—		626		—			—			—			—
Pension and Postretirement Adjustment, Net of Tax		19,993			—		—		—			19,993			—			—
Reclassification of Stranded Tax Effects		-			—		—		4,047			(4,047	)		—			—
Stock Option Exercises		32			—		32		—			—			—			—
Employee Stock Purchases		40			—		20		—			—			20			—
Balance, December 30, 2018	$	183,757		$	73	$	95,818	$	220,483		$	(18,648	)	$	(135,758	)	$	21,789

	Six Months Ended December 31, 2017
	Total Shareholders’ Equity			Common Stock		Capital in Excess of Par Value		Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Stock			Non-Controlling Interest
Balance, July 2, 2017	$	172,714		$	72	$	93,813	$	225,913		$	(32,888	)	$	(135,822	)	$	21,626
Net Income		7,104			—		—		5,338			—			—			1,766
Dividend Declared		(1,017	)		—		—		(1,017	)		—			—			—
Dividend Declared – Non- controlling Interests of Subsidiaries		(2,017	)		—		—		—			—			—			(2,017	)
Translation adjustments		(2,294	)		—		—		—			(1,343	)		—			(951	)
Stock Based Compensation		621			—		621		—			—			—			—
Pension and Postretirement Adjustment, Net of Tax		555			—		—		—			555			—			—
Stock Option Exercises		139			—		139		—			—			—			—
Employee Stock Purchases		51			—		30		—			—			21			—
Balance, December 31, 2017	$	175,856		$	72	$	94,603	$	230,234		$	(33,676	)	$	(135,801	)	$	20,424

Revenue from Contract with Customers

6 Months Ended

Dec. 30, 2018

Revenue From Contract With Customer [Abstract]

Revenue from Contracts with Customers

We generate revenue from the production of parts sold to automotive and light-truck Original Equipment Manufacturers (“OEMs”), or Tier 1 suppliers at the direction of the OEM, under long-term supply agreements supporting new vehicle production. Such agreements also require related production of service parts subsequent to the initial vehicle production periods. Additionally, we generate revenue from the production of parts sold in aftermarket service channels and to non-automotive commercial customers.

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 is 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 period 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 Condensed Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income. Shipping and handling costs are accounted for as fulfillment costs and are included in Cost of Goods Sold in the accompanying Condensed Consolidated Statements of (Loss) Income and Comprehensive (Loss) 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 Condensed 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 December 30, 2018. 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 six month period ended December 30, 2018 was as follows (thousands of dollars):

Balance, July 2, 2018	$	1,195
Discounts Recorded as a Reduction in Sales		888
Payments of Discounts to Customers		(784	)
Other		(4	)
Balance, December 30, 2018	$	1,295

Revenue by Product Group and Customer:

Revenue by product group was as follows (thousands of dollars):

	Three Months Ended				Six Months Ended
	December 30, 2018		December 31, 2017		December 30, 2018		December 31, 2017
Keys & Locksets	$	32,693	$	26,937	$	67,045	$	52,638
Power Access		20,396		18,677		42,795		41,750
Door Handles & Exterior Trim		25,803		21,734		51,761		39,570
Driver Controls		10,091		12,370		20,838		24,949
Aftermarket & OE Service		10,776		10,533		21,760		21,823
Latches		11,709		10,561		22,764		20,081
Other		1,445		2,370		3,109		4,831
	$	112,913	$	103,182	$	230,072	$	205,642

Revenue by customer or customer group was as follows (thousands of dollars):

	Three Months Ended				Six Months Ended
	December 30, 2018		December 31, 2017		December 30, 2018		December 31, 2017
Fiat Chrysler Automobiles	$	25,610	$	22,002	$	55,907	$	46,104
General Motors Company		23,855		21,396		49,142		41,734
Ford Motor Company		16,114		16,059		31,637		31,432
Tier 1 Customers		18,463		16,514		36,279		32,257
Commercial and Other OEM Customers		21,468		19,761		42,396		37,628
Hyundai / Kia		7,403		7,450		14,711		16,487
	$	112,913	$	103,182	$	230,072	$	205,642

Other (Expense) Income, Net

6 Months Ended

Dec. 30, 2018

Other Income And Expenses [Abstract]

Other (Expense) Income, Net

Other (Expense) Income, net

Net other (expense) income included in the accompanying Condensed Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income primarily included foreign currency transaction gains and losses, realized and unrealized losses on our Mexican peso currency forward contracts, net periodic pension and postretirement benefit (costs) credits, other than the service cost component, related to our pension and postretirement plans and Rabbi Trust gains and losses. Foreign currency transaction gains and losses resulted from activity associated with foreign denominated assets held by our Mexican subsidiaries. We entered into the Mexican Peso currency forward contracts to minimize earnings volatility resulting from changes in exchange rates affecting the U.S. dollar cost of our Mexican operations. The Rabbi Trust assets fund our amended and restated supplemental executive retirement plan. The investments held in this Trust are considered trading securities.

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

	Three Months Ended						Six Months Ended
	December 30, 2018			December 31, 2017			December 30, 2018			December 31, 2017
Foreign Currency Transaction Loss	$	359		$	556		$	(69	)	$	419
Unrealized (Loss) Gain on Peso Forward Contracts		(132	)		(821	)		93			(1,079	)
Realized Gain on Peso Forward Contracts		50			201			222			659
Pension and Postretirement Plans (Cost) Credit		(317	)		112			(635	)		224
Rabbi Trust (Loss) Gain		(279	)		103			(200	)		192
Other		57			(42	)		82			(219	)
	$	(262	)	$	109		$	(507	)	$	196

Income Taxes

6 Months Ended

Dec. 30, 2018

Income Tax Disclosure [Abstract]

Income Taxes

Our income tax provision for the three and six month periods ended December 31, 2017 were 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 made broad and complex changes to the U.S. tax code that affected our tax provision beginning January 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 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 ended July 1, 2018, a blended statutory corporate tax rate of 28% was applicable, which was based on the applicable statutory rates before and after the effective date of 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 the company is able to determine a reasonable estimate, 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 $545,000 for the three and six month periods ended December 31, 2017. This net tax benefit primarily consisted of (1) the impact of the change in measurement of our deferred tax assets and liabilities, (2) the one-time transition tax on non-previously taxed post 1986 accumulated foreign earnings, and (3) the impact of changing our annualized effective tax rate. 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, recorded provisional adjustments of these elements during the three month period ended December 31, 2017. 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 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, in addition to other factors, the amount of post-1986 E&P of the relevant subsidiaries must be determined, 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 the accompanying condensed financial statements for the three months ended December 31, 2017. 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 recorded provisional amounts related to certain portions of the Act, any corresponding determination of the need for or change in a valuation allowance was also provisional.

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

Our income tax provision for the three and six month periods ended December 30, 2018 were impacted by a $7.9 million tax benefit resulting from the termination of our qualified, noncontributory defined benefit pension plan as discussed under Pension and Postretirement Benefits below and a reduction in the expected effective tax rate as compared to the prior year period. Our income tax provision for the six month period ended December 30, 2018 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. The expected annual effective tax rate between our fiscal 2019 and 2018 years decreased from approximately 18.5 percent as of the prior year quarter to approximately 5.1 percent as of the current year quarter due to the reduction in the U.S. statutory rate between years and changes in the U.S. taxation of non-U.S. earnings.

Additionally, our income tax provisions for the three and six months ended December 30, 2018 and December 31, 2017 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.

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

6 Months Ended

Dec. 30, 2018

Earnings Per Share [Abstract]

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

(Loss) Earnings Per Share (EPS)

Basic earnings per share is computed on the basis of the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings per share is computed on the basis of the weighted average number of shares of common stock plus the potential dilutive common shares outstanding during the applicable period using the treasury stock method. Potential dilutive common shares include outstanding stock options and unvested restricted stock awards.

A reconciliation of the components of the basic and diluted per-share computations follows (in thousands, except per share amounts):

	Three Months Ended
	December 30, 2018								December 31, 2017
	Net income			Shares		Per-Share Amount			Net income		Shares		Per-Share Amount
Basic (Loss) Earnings Per Share	$	(22,164	)		3,675	$	(6.03	)	$	2,882		3,631	$	0.79
Stock Option and Restricted Stock Awards		—			43					—		84
Diluted (Loss) Earnings Per Share	$	(22,164	)		3,718	$	(5.96	)	$	2,882		3,715	$	0.78

	Six Months Ended
	December 30, 2018							December 31, 2017
	Net income			Shares	Per-Share Amount			Net income		Shares		Per-Share Amount
Basic (Loss) Earnings Per Share	$	(18,697	)	3,663	$	(5.10	)	$	5,338		3,621	$	1.47
Stock Option and Restricted Stock Awards		—		52					—		77
Diluted (Loss) Earnings Per Share	$	(18,697	)	3,715	$	(5.03	)	$	5,338		3,698	$	1.44

The calculation of (loss) earnings per share excluded 42,100 and 9,010 share-based payment awards as of December 30, 2018 and December 31, 2017, respectively, because their inclusion would have been anti-dilutive.

Stock-Based Compensation

6 Months Ended

Dec. 30, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-based Compensation

We maintain an omnibus stock incentive plan. This plan provides for the granting of stock options, shares of restricted stock and stock appreciation rights. As of December 30, 2018, the Board of Directors had designated 1,850,000 shares of common stock available for the grant of awards under the plan. Remaining shares available to be granted under the plan as of December 30, 2018 were 147,939. Awards that expire or are canceled without delivery of shares become available for re-issuance under the plan. We issue new shares of common stock to satisfy stock option exercises.

Nonqualified and incentive stock options and shares of restricted stock have been granted to our officers, outside directors and specified associates under our stock incentive plan. Stock options granted under the plan may not be issued with an exercise price less than the fair market value of the common stock on the date the option is granted. Stock options become exercisable as determined at the date of grant by the Compensation Committee of the Board of Directors. The options expire 10 years after the grant date unless an earlier expiration date is set at the time of grant. The options vest 1 to 4 years after the date of grant as determined by the Compensation Committee of the Board of Directors. Shares of restricted stock granted under the plan are subject to vesting criteria determined by the Compensation Committee of the Board of Directors at the time the shares are granted and have a minimum vesting period of one year from the date of grant. Unvested restricted shares granted have voting rights, regardless of whether the shares are vested or unvested, but only have the right to receive cash dividends after such shares become vested. Prior to August 2016, the restricted stock grants issued vest 3 to 5 years after the date of grant. As of August 2016, restricted stock grants issued vest 1 to 5 years after the date of grant as determined by the Compensation Committee of the Board of Directors.

The fair value of each stock option grant was estimated as of the date of grant using the Black-Scholes pricing model. The fair value of each restricted stock grant was based on the market price of the underlying common stock as of the date of grant. The resulting compensation cost for fixed awards with graded vesting schedules is amortized on a straight line basis over the vesting period for the entire award.

A summary of stock option activity under our stock incentive plan for the six months ended December 30, 2018 was as follows:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (in thousands)
Outstanding, July 1, 2018		133,074		$	29.37
Exercised		(2,914	)	$	10.92
Outstanding, December 30, 2018		130,160		$	29.79		2.9	$	743
Exercisable, December 30, 2018		130,160		$	29.79		2.9	$	743

The intrinsic value of stock options exercised and the fair value of stock options that vested during the three and six month periods presented below were as follows (in thousands):

	Three Months Ended				Six Months Ended
	December 30, 2018		December 31, 2017		December 30, 2018		December 31, 2017
Intrinsic Value of Options Exercised	$	55	$	110	$	55	$	110
Fair Value of Stock Options Vesting	$	—	$	—	$	—	$	—

No options were granted during the six month periods ended December 30, 2018 or December 31, 2017.

A summary of restricted stock activity under our omnibus stock incentive plan for the six months ended December 30, 2018 was as follows:

	Shares			Weighted Average Grant Date Fair Value
Nonvested Balance, July 1, 2018		69,125		$	49.02
Granted		34,050		$	37.25
Vested		(37,343	)	$	54.93
Forfeited		(725	)	$	54.28
Nonvested Balance, December 30, 2018		65,107		$	39.42

As of December 30, 2018, all compensation cost related to outstanding stock options granted under our omnibus stock incentive plan has been recognized. As of December 30, 2018, there was approximately $1.6 million of total unrecognized compensation cost related to unvested restricted stock grants outstanding under the plan. This cost is expected to be recognized over a remaining weighted average period of 1.1 years. Total unrecognized compensation cost will be adjusted for any future changes in estimated and actual forfeitures of awards granted under our omnibus stock incentive plan.

Pension and Postretirement Benefits

6 Months Ended

Dec. 30, 2018

Compensation And Retirement Disclosure [Abstract]

Pension and Postretirement Benefits

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 $32.4 million was recorded during the current quarter. A remaining non-cash compensation expense charge of approximately $8 million is expected to be recorded in future periods when the Qualified Pension Plan is fully terminated and the excess Plan assets are transferred to a STRATTEC defined contribution plan and subsequently paid out.

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 received, and currently receives, a supplemental retirement benefit equal to the foregoing lump sum benefit, plus an annual benefit accrual equal to 8 percent of the participant’s base salary and cash bonus, plus annual credited interest on the participant’s account balance. All then current participants as of December 31, 2013 are fully vested in their account balances with any new individuals participating in the SERP effective on or after January 1, 2014 being subject to a five year vesting period. The SERP, which is considered a nonqualified defined benefit plan under applicable rules and regulations of the Internal Revenue Code, will continue to be funded through use of a Rabbi Trust to hold investment assets to be used in part to fund any future required lump sum benefit payments to participants. The Rabbi Trust assets had a value of $2.6 million at December 30, 2018 and $2.8 million at July 1, 2018, respectively, and are included in Other Long-Term Assets in the accompanying Condensed Consolidated Balance Sheets.

We also sponsor a postretirement health care plan for all U.S. associates hired prior to June 1, 2001. The expected cost of retiree health care benefits is recognized during the years the associates who are covered under the plan render service. Effective January 1, 2010, an amendment to the postretirement health care plan limited the benefit for future eligible retirees to $4,000 per plan year and the benefit is further subject to a maximum five year coverage period based on the associate’s retirement date and age. The postretirement health care plan is unfunded.

The service cost component of the net periodic benefit costs under these plans is allocated between Cost of Goods Sold and Engineering, Selling and Administrative Expenses while the remaining components of the net periodic benefit costs are included in Other (Expense) Income, net in the accompanying Condensed Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income.

The following table summarizes the net periodic benefit cost recognized for each of the periods indicated under these plans (in thousands):

	Pension Benefits						Postretirement Benefits
	Three Months Ended						Three Months Ended
	December 30, 2018			December 31, 2017			December 30, 2018			December 31, 2017
Service cost	$	15		$	16		$	3		$	4
Interest cost		1,032			964		11				11
Expected return on plan assets		(1,138	)		(1,527	)		—			—
Plan Settlements		(32,434	)		—			—			—
Amortization of prior service cost (credit)		—			3			(110	)		(191	)
Amortization of unrecognized net loss	416				508		107				120
Net periodic benefit (credit) cost	$	(32,109	)	$	(36	)	$	11		$	(56	)

	Pension Benefits						Postretirement Benefits
	Six Months Ended						Six Months Ended
	December 30, 2018			December 31, 2017			December 30, 2018			December 31, 2017
Service cost	$	30		$	33		$	6		$	7
Interest cost		2,064			1,928		22				22
Expected return on plan assets		(2,276	)		(3,055	)		—			—
Plan Settlements		(32,434	)		—			—			—
Amortization of prior service cost (credit)		—			6			(220	)		(382	)
Amortization of unrecognized net loss	832				1,017		214				240
Net periodic benefit (credit) cost	$	(31,784	)	$	(71	)	$	22		$	(113	)

No voluntary contributions were made to the Qualified Pension Plan during the six month periods ended December 30, 2018 and December 31, 2017. No additional contributions will be made in conjunction with the termination of the Qualified Pension Plan.

Accumulated Other Comprehensive Loss

6 Months Ended

Dec. 30, 2018

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Accumulated Other Comprehensive Loss

The following tables summarize the changes in accumulated other comprehensive loss (“AOCL”) for each period presented (in thousands):

	Six Months Ended December 30, 2018
	Foreign Currency Translation Adjustments			Retirement and Postretirement Benefit Plans			Total
Balance, July 1, 2018	$	15,291		$	18,148		$	33,439
Other comprehensive loss before reclassifications		1,183			—			1,183
Income tax		(185	)		—			(185	)
Net other comprehensive loss before reclassifications		998			—			998
Reclassifications:
Pension Termination Settlement (A)		—			(25,668	)		(25,668	)
Prior service credits (A)		—			220			220
Actuarial gains (A)		—			(1,046	)		(1,046	)
Total reclassifications before tax		—			(26,494	)		(26,494	)
Income tax		—			6,501			6,501
Net reclassifications		—			(19,993	)		(19,993	)
Other comprehensive loss (income)		998			(19,993	)		(18,995	)
Other comprehensive income attributable to non- controlling interest		(157	)		—			(157	)
Reclassification of stranded tax effects		83			3,964			4,047
Balance, December 30, 2018	$	16,529		$	2,119		$	18,648

	Six Months Ended December 31, 2017
	Foreign Currency Translation Adjustments		Retirement and Postretirement Benefit Plans			Total
Balance, July 2, 2017	$	14,138	$	18,750		$	32,888
Other comprehensive loss before reclassifications		2,294		—			2,294
Income tax				—			—
Net other comprehensive loss before Reclassifications		2,294		—			2,294
Reclassifications:
Prior service credits (A)		—		376			376
Unrecognized net loss (A)		—		(1,257	)		(1,257	)
Total reclassifications before tax		—		(881	)		(881	)
Income tax		—		326			326
Net reclassifications		—		(555	)		(555	)
Other comprehensive loss (income)		2,294		(555	)		1,739
Other comprehensive loss attributable to non- controlling interest		951		—			951
Balance, December 31, 2017	$	15,481	$	18,195		$	33,676

(A)

Amounts reclassified are included in the computation of net periodic benefit cost and the pension termination settlement charge, which is included in Other (Expense) Income, net in the accompanying Condensed Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income. See Pension and Postretirement Benefits note to these Notes to Condensed Consolidated Financial Statements above.

Derivative Instruments (Tables)

6 Months Ended

Dec. 30, 2018

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of Quantification of Outstanding Mexican Peso Forward Contracts

The following table quantifies the outstanding Mexican peso forward contracts as of December 30, 2018 (thousands of dollars, except average forward contractual exchange rates):

		Effective Dates		Notional Amount				Average Forward Contractual Exchange Rate				Fair Value
Buy MXP/Sell USD		January 15, 2019 - June 13, 2019		$	4,500				20.22			$	54

Fair Market Value of All Outstanding Peso Forward Contracts

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

	December 30, 2018		July 1, 2018
Not Designated as Hedging Instruments:
Other Current Assets (Liabilities):
Mexican Peso Forward Contracts	$	54	$	(39	)

Pre-Tax Effects of the Peso Forward Contracts

	Three Months Ended						Six Months Ended
	December 30, 2018			December 31, 2017			December 30, 2018		December 31, 2017
Not Designated as Hedging Instruments:
Realized Gain	$	50		$	201		$	222	$	659
Unrealized (Loss) Gain	$	(132	)	$	(821	)	$	93	$	(1,079	)

Fair Value of Financial Instruments (Tables)

6 Months Ended

Dec. 30, 2018

Fair Value Disclosures [Abstract]

Summary of Financial Assets and Liabilities at Fair Value on Recurring Basis

The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of December 30, 2018 (in thousands):

	Fair Value Inputs
	Level 1 Assets: Quoted Prices In Active Markets		Level 2 Assets: Observable Inputs Other Than Market Prices		Level 3 Assets: Unobservable Inputs
Assets:
Rabbi Trust Assets:
Stock Index Funds:
Small Cap	$	229	$	—	$	—
Mid Cap		238		—		—
Large Cap		493		—		—
International		759		—		—
Fixed Income Funds		866		—		—
Cash and Cash Equivalents		—		6		—
Mexican Peso Forward Contracts		—		54		—
Total Assets at Fair Value	$	2,585	$	60	$	—

Equity Earnings of Joint Ventures (Tables)

6 Months Ended

Dec. 30, 2018

VAST LLC

Summarized Statements of Operations

The following are summarized statements of operations for VAST LLC (in thousands):

	Three Months Ended						Six Months Ended
	December 30, 2018			December 31, 2017			December 30, 2018			December 31, 2017
Net Sales	$	47,719		$	45,333		$	87,775		$	83,843
Cost of Goods Sold		37,768			35,263			68,870			64,276
Gross Profit		9,951			10,070			18,905			19,567
Engineering, Selling and Administrative Expenses		6,719			6,325			12,869			12,346
Income From Operations		3,232			3,745			6,036			7,221
Other Income, net		1,907			636			2,304			786
Income before Provision for Income Taxes		5,139			4,381			8,340			8,007
Provision for Income Taxes		658			162			1,125			684
Net Income	$	4,481		$	4,219		$	7,215		$	7,323
STRATTEC’s Share of VAST LLC Net Income	$	1,494		$	1,406		$	2,405		$	2,441
Intercompany Profit Elimination		(7	)		(2	)		(3	)		(2	)
STRATTEC’s Equity Earnings of VAST LLC	$	1,487		$	1,404		$	2,402		$	2,439

VAST LLC and SAL LLC

Summarize of Related Party Transaction

The following table summarizes these related party transactions with VAST LLC and SAL LLC for the periods indicated below (in thousands):

	Three Months Ended				Six Months Ended
	December 30, 2018		December 31, 2017		December 30, 2018		December 31, 2017
Sales to VAST LLC	$	1,375	$	987	$	1,873	$	1,583
Sales to SAL LLC	$	—	$	147	$	—	$	182
Purchases from VAST LLC	$	86	$	84	$	128	$	129
Expenses Charged to VAST LLC	$	434	$	171	$	779	$	383
Expenses Charged from VAST LLC	$	229	$	312	$	436	$	530

Credit Facilities (Tables)

6 Months Ended

Dec. 30, 2018

Debt Disclosure [Abstract]

Schedule of Outstanding Borrowings Under the Credit Facilities

Outstanding borrowings under the credit facilities were as follows (in thousands):

December 30,

2018

July 1,

2018

STRATTEC Credit Facility

21,000

23,000

ADAC-STRATTEC Credit Facility

25,000

28,000

Schedule of Average Outstanding Borrowings and the Weighted Average Interest Rate

Average outstanding borrowings and the weighted average interest rate under each credit facility referenced above were as follows for each period presented (in thousands):

	Six Months Ended
	Average Outstanding Borrowings				Weighted Average Interest Rate
	December 30, 2018		December 31, 2017		December 30, 2018			December 31, 2017
STRATTEC Credit Facility	$	23,319	$	20,308		3.2	%		2.3	%
ADAC-STRATTEC Credit Facility	$	26,929	$	18,082		3.2	%		2.4	%

Shareholders' Equity (Tables)

6 Months Ended

Dec. 30, 2018

Equity [Abstract]

Summary of Activity Impacting Shareholders' Equity

A summary of activity impacting shareholders’ equity for the three and six month periods ended December 30, 2018 and December 31, 2017 were as follows (in thousands):

	Three Months Ended December 30, 2018
	Total Shareholders’ Equity			Common Stock		Capital in Excess of Par Value		Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Stock			Non-Controlling Interest
Balance, September 30, 2018	$	187,932		$	73	$	95,537	$	239,115		$	(32,946	)	$	(135,767	)	$	21,920
Net Loss		(21,598	)		—		—		(22,164	)		—			—			566
Dividend Declared		(515	)		—		—		(515	)		—			—			—
Dividend Declared – Non- controlling Interests of Subsidiaries		(200	)		—		—		—			—			—			(200	)
Translation adjustments		(1,829	)									(1,332	)					(497	)
Stock Based Compensation		241			—		241		—			—			—			—
Pension and Postretirement Adjustment, Net of Tax		19,677			—		—		—			19,677			—			—
Reclassification of Stranded Tax Effects		-			—		—		4,047			(4,047	)		—			—
Stock Option Exercises		32			—		32		—			—			—			—
Employee Stock Purchases		17			—		8		—			—			9			—
Balance, December 30, 2018	$	183,757		$	73	$	95,818	$	220,483		$	(18,648	)	$	(135,758	)	$	21,789

	Three Months Ended December 31, 2017
	Total Shareholders’ Equity			Common Stock		Capital in Excess of Par Value		Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Stock			Non-Controlling Interest
Balance, October 1, 2017	$	174,429		$	72	$	94,198	$	227,861		$	(32,235	)	$	(135,811	)	$	20,344
Net Income		3,835			—		—		2,882			—			—			953
Dividend Declared		(509	)		—		—		(509	)		—			—			—
Dividend Declared – Non- controlling Interests of Subsidiaries		-			—		—		—			—			—			—
Translation adjustments		(2,591	)		—		—		—			(1,718	)		—			(873	)
Stock Based Compensation		250			—		250		—						—			—
Pension and Postretirement Adjustment, Net of Tax		277			—				—			277			—			—
Stock Option Exercises		139			—		139		—			—			—			—
Employee Stock Purchases		26			—		16		—						10			—
Balance, December 31, 2017	$	175,856		$	72	$	94,603	$	230,234		$	(33,676	)	$	(135,801	)	$	20,424

	Six Months Ended December 30, 2018
	Total Shareholders’ Equity			Common Stock		Capital in Excess of Par Value		Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Stock			Non-Controlling Interest
Balance, July 1, 2018	$	183,246		$	73	$	95,140	$	236,162		$	(33,439	)	$	(135,778	)	$	21,088
Net Loss		(17,169	)		—		—		(18,697	)		—			—			1,528
Dividend Declared		(1,029	)		—		—		(1,029	)		—			—			—
Dividend Declared – Non- controlling Interests of Subsidiaries		(984	)		—		—		—			—			—			(984	)
Translation adjustments		(998	)		—		—					(1,155	)		—			157
Stock Based Compensation		626			—		626		—			—			—			—
Pension and Postretirement Adjustment, Net of Tax		19,993			—		—		—			19,993			—			—
Reclassification of Stranded Tax Effects		-			—		—		4,047			(4,047	)		—			—
Stock Option Exercises		32			—		32		—			—			—			—
Employee Stock Purchases		40			—		20		—			—			20			—
Balance, December 30, 2018	$	183,757		$	73	$	95,818	$	220,483		$	(18,648	)	$	(135,758	)	$	21,789

	Six Months Ended December 31, 2017
	Total Shareholders’ Equity			Common Stock		Capital in Excess of Par Value		Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Stock			Non-Controlling Interest
Balance, July 2, 2017	$	172,714		$	72	$	93,813	$	225,913		$	(32,888	)	$	(135,822	)	$	21,626
Net Income		7,104			—		—		5,338			—			—			1,766
Dividend Declared		(1,017	)		—		—		(1,017	)		—			—			—
Dividend Declared – Non- controlling Interests of Subsidiaries		(2,017	)		—		—		—			—			—			(2,017	)
Translation adjustments		(2,294	)		—		—		—			(1,343	)		—			(951	)
Stock Based Compensation		621			—		621		—			—			—			—
Pension and Postretirement Adjustment, Net of Tax		555			—		—		—			555			—			—
Stock Option Exercises		139			—		139		—			—			—			—
Employee Stock Purchases		51			—		30		—			—			21			—
Balance, December 31, 2017	$	175,856		$	72	$	94,603	$	230,234		$	(33,676	)	$	(135,801	)	$	20,424

Revenue from Contracts with Customers (Tables)

6 Months Ended

Dec. 30, 2018

Revenue From Contract With Customer [Abstract]

Contract Liability Balances

The activity related to contract liability balances during the six month period ended December 30, 2018 was as follows (thousands of dollars):

Balance, July 2, 2018	$	1,195
Discounts Recorded as a Reduction in Sales		888
Payments of Discounts to Customers		(784	)
Other		(4	)
Balance, December 30, 2018	$	1,295

Revenue by Product Group and Customer

Revenue by product group was as follows (thousands of dollars):

	Three Months Ended				Six Months Ended
	December 30, 2018		December 31, 2017		December 30, 2018		December 31, 2017
Keys & Locksets	$	32,693	$	26,937	$	67,045	$	52,638
Power Access		20,396		18,677		42,795		41,750
Door Handles & Exterior Trim		25,803		21,734		51,761		39,570
Driver Controls		10,091		12,370		20,838		24,949
Aftermarket & OE Service		10,776		10,533		21,760		21,823
Latches		11,709		10,561		22,764		20,081
Other		1,445		2,370		3,109		4,831
	$	112,913	$	103,182	$	230,072	$	205,642

Revenue by customer or customer group was as follows (thousands of dollars):

	Three Months Ended				Six Months Ended
	December 30, 2018		December 31, 2017		December 30, 2018		December 31, 2017
Fiat Chrysler Automobiles	$	25,610	$	22,002	$	55,907	$	46,104
General Motors Company		23,855		21,396		49,142		41,734
Ford Motor Company		16,114		16,059		31,637		31,432
Tier 1 Customers		18,463		16,514		36,279		32,257
Commercial and Other OEM Customers		21,468		19,761		42,396		37,628
Hyundai / Kia		7,403		7,450		14,711		16,487
	$	112,913	$	103,182	$	230,072	$	205,642

Other (Expense) Income, Net (Tables)

6 Months Ended

Dec. 30, 2018

Other Income And Expenses [Abstract]

Summary of Other (Expense) Income, Net

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

	Three Months Ended						Six Months Ended
	December 30, 2018			December 31, 2017			December 30, 2018			December 31, 2017
Foreign Currency Transaction Loss	$	359		$	556		$	(69	)	$	419
Unrealized (Loss) Gain on Peso Forward Contracts		(132	)		(821	)		93			(1,079	)
Realized Gain on Peso Forward Contracts		50			201			222			659
Pension and Postretirement Plans (Cost) Credit		(317	)		112			(635	)		224
Rabbi Trust (Loss) Gain		(279	)		103			(200	)		192
Other		57			(42	)		82			(219	)
	$	(262	)	$	109		$	(507	)	$	196

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

6 Months Ended

Dec. 30, 2018

Earnings Per Share [Abstract]

Reconciliation of the Components of Basic and Diluted Per Share

A reconciliation of the components of the basic and diluted per-share computations follows (in thousands, except per share amounts):

	Three Months Ended
	December 30, 2018								December 31, 2017
	Net income			Shares		Per-Share Amount			Net income		Shares		Per-Share Amount
Basic (Loss) Earnings Per Share	$	(22,164	)		3,675	$	(6.03	)	$	2,882		3,631	$	0.79
Stock Option and Restricted Stock Awards		—			43					—		84
Diluted (Loss) Earnings Per Share	$	(22,164	)		3,718	$	(5.96	)	$	2,882		3,715	$	0.78

	Six Months Ended
	December 30, 2018							December 31, 2017
	Net income			Shares	Per-Share Amount			Net income		Shares		Per-Share Amount
Basic (Loss) Earnings Per Share	$	(18,697	)	3,663	$	(5.10	)	$	5,338		3,621	$	1.47
Stock Option and Restricted Stock Awards		—		52					—		77
Diluted (Loss) Earnings Per Share	$	(18,697	)	3,715	$	(5.03	)	$	5,338		3,698	$	1.44

Stock-Based Compensation (Tables)

6 Months Ended

Dec. 30, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Option Activity Under Our Stock Incentive Plan

A summary of stock option activity under our stock incentive plan for the six months ended December 30, 2018 was as follows:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (in thousands)
Outstanding, July 1, 2018		133,074		$	29.37
Exercised		(2,914	)	$	10.92
Outstanding, December 30, 2018		130,160		$	29.79		2.9	$	743
Exercisable, December 30, 2018		130,160		$	29.79		2.9	$	743

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

The intrinsic value of stock options exercised and the fair value of stock options that vested during the three and six month periods presented below were as follows (in thousands):

	Three Months Ended				Six Months Ended
	December 30, 2018		December 31, 2017		December 30, 2018		December 31, 2017
Intrinsic Value of Options Exercised	$	55	$	110	$	55	$	110
Fair Value of Stock Options Vesting	$	—	$	—	$	—	$	—

Summary of Restricted Stock Activity Under Our Stock Incentive Plan

A summary of restricted stock activity under our omnibus stock incentive plan for the six months ended December 30, 2018 was as follows:

	Shares			Weighted Average Grant Date Fair Value
Nonvested Balance, July 1, 2018		69,125		$	49.02
Granted		34,050		$	37.25
Vested		(37,343	)	$	54.93
Forfeited		(725	)	$	54.28
Nonvested Balance, December 30, 2018		65,107		$	39.42

Pension and Postretirement Benefits (Tables)

6 Months Ended

Dec. 30, 2018

Compensation And Retirement Disclosure [Abstract]

Summary of Net Periodic Benefit Cost Recognized

The following table summarizes the net periodic benefit cost recognized for each of the periods indicated under these plans (in thousands):

	Pension Benefits						Postretirement Benefits
	Three Months Ended						Three Months Ended
	December 30, 2018			December 31, 2017			December 30, 2018			December 31, 2017
Service cost	$	15		$	16		$	3		$	4
Interest cost		1,032			964		11				11
Expected return on plan assets		(1,138	)		(1,527	)		—			—
Plan Settlements		(32,434	)		—			—			—
Amortization of prior service cost (credit)		—			3			(110	)		(191	)
Amortization of unrecognized net loss	416				508		107				120
Net periodic benefit (credit) cost	$	(32,109	)	$	(36	)	$	11		$	(56	)

	Pension Benefits						Postretirement Benefits
	Six Months Ended						Six Months Ended
	December 30, 2018			December 31, 2017			December 30, 2018			December 31, 2017
Service cost	$	30		$	33		$	6		$	7
Interest cost		2,064			1,928		22				22
Expected return on plan assets		(2,276	)		(3,055	)		—			—
Plan Settlements		(32,434	)		—			—			—
Amortization of prior service cost (credit)		—			6			(220	)		(382	)
Amortization of unrecognized net loss	832				1,017		214				240
Net periodic benefit (credit) cost	$	(31,784	)	$	(71	)	$	22		$	(113	)

Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Dec. 30, 2018

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Summary of Changes in Accumulated Other Comprehensive Loss

The following tables summarize the changes in accumulated other comprehensive loss (“AOCL”) for each period presented (in thousands):

	Six Months Ended December 30, 2018
	Foreign Currency Translation Adjustments			Retirement and Postretirement Benefit Plans			Total
Balance, July 1, 2018	$	15,291		$	18,148		$	33,439
Other comprehensive loss before reclassifications		1,183			—			1,183
Income tax		(185	)		—			(185	)
Net other comprehensive loss before reclassifications		998			—			998
Reclassifications:
Pension Termination Settlement (A)		—			(25,668	)		(25,668	)
Prior service credits (A)		—			220			220
Actuarial gains (A)		—			(1,046	)		(1,046	)
Total reclassifications before tax		—			(26,494	)		(26,494	)
Income tax		—			6,501			6,501
Net reclassifications		—			(19,993	)		(19,993	)
Other comprehensive loss (income)		998			(19,993	)		(18,995	)
Other comprehensive income attributable to non- controlling interest		(157	)		—			(157	)
Reclassification of stranded tax effects		83			3,964			4,047
Balance, December 30, 2018	$	16,529		$	2,119		$	18,648

	Six Months Ended December 31, 2017
	Foreign Currency Translation Adjustments		Retirement and Postretirement Benefit Plans			Total
Balance, July 2, 2017	$	14,138	$	18,750		$	32,888
Other comprehensive loss before reclassifications		2,294		—			2,294
Income tax				—			—
Net other comprehensive loss before Reclassifications		2,294		—			2,294
Reclassifications:
Prior service credits (A)		—		376			376
Unrecognized net loss (A)		—		(1,257	)		(1,257	)
Total reclassifications before tax		—		(881	)		(881	)
Income tax		—		326			326
Net reclassifications		—		(555	)		(555	)
Other comprehensive loss (income)		2,294		(555	)		1,739
Other comprehensive loss attributable to non- controlling interest		951		—			951
Balance, December 31, 2017	$	15,481	$	18,195		$	33,676

(A)

Basis of Financial Statements (Details Textual)	6 Months Ended
Basis of Financial Statements (Details Textual)	Dec. 30, 2018 Subsidiary Joint_Venture Segment
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of reporting segments related to STRATTEC Security Corporation \| Segment	1
SAL, LLC
Organization Consolidation And Presentation Of Financial Statements [Line Items]
STRATTEC's percentage ownership in joint venture	51.00%
VAST LLC
Organization Consolidation And Presentation Of Financial Statements [Line Items]
STRATTEC's percentage ownership in joint venture	33.33%
VAST LLC \| CHINA
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of wholly owned subsidiaries	3
VAST LLC \| BRAZIL
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of wholly owned subsidiaries	1
VAST LLC \| INDIA
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of joint venture entities \| Joint_Venture	1

New Accounting Standards (Details Textual) - USD ($)

3 Months Ended

Dec. 30, 2018

Sep. 30, 2018

Jul. 02, 2018

Jul. 01, 2018

New Accounting Pronouncements Or Change In Accounting Principle [Line Items]

Receivables, net

$ 67,256,000

^[1]

$ 73,832,000

Accrued liabilities: Other

8,582,000

^[1]

$ 7,870,000

ASU 2014-09

New Accounting Pronouncements Or Change In Accounting Principle [Line Items]

Cumulative effect adjustment to retained earnings

$ 0

ASU 2014-09 | Effect of Reclassification Changes

New Accounting Pronouncements Or Change In Accounting Principle [Line Items]

Receivables, net

$ 1,200,000

Accrued liabilities: Other

$ 1,200,000

ASU 2018-02 | Reclassification from Accumulated Other Comprehensive Income to Retained Earnings

New Accounting Pronouncements Or Change In Accounting Principle [Line Items]

Effect of adoption of new accounting guidance

$ 4,000,000

[1]

Unaudited

Derivative Instruments - Schedule of Quantification of Outstanding Mexican Peso Forward Contracts (Details) - Currency buy sell under contract one	6 Months Ended
	Dec. 30, 2018 USD ($) $ / $
Derivative [Line Items]
Effective Dates, Beginning	Jan. 15, 2019
Effective Dates, Ending	Jun. 13, 2019
Notional Amount	$ 4,500,000
Average Forward Contractual Exchange Rate \| $ / $	20.22
Fair Value	$ 54,000

Derivative Instruments - Fair Market Value of All Outstanding Peso Forward Contracts (Details) - Other Current Assets (Liabilities) - Mexican Peso Forward Contracts - USD ($) $ in Thousands	Dec. 30, 2018	Jul. 01, 2018
Not Designated as Hedging Instruments:
Fair market value of derivative instruments	$ 54
Fair market value of derivative instruments		$ (39)

Derivative Instruments - Pre-Tax Effects of the Peso Forward Contracts (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 30, 2018	Dec. 31, 2017	Dec. 30, 2018	Dec. 31, 2017
Pre-tax effects of the Mexican peso forward contracts
Realized Gain	$ 50	$ 201	$ 222	$ 659
Unrealized (Loss) Gain	(132)	(821)	93	(1,079)
Not Designated as Hedging Instrument \| Other Income (Expense), Net
Pre-tax effects of the Mexican peso forward contracts
Realized Gain	50	201	222	659
Unrealized (Loss) Gain	$ (132)	$ (821)	$ 93	$ (1,079)

Fair Value of Financial Instruments (Details) - Fair Value Measurements Recurring $ in Thousands	Dec. 30, 2018 USD ($)
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	$ 2,585
Level 1 \| Fixed Income Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	866
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	229
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	238
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	493
Level 1 \| Stock Index Funds \| International
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	759
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	60
Level 2 \| Cash and Cash Equivalents
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	6
Level 2 \| Mexican Peso Forward Contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total Assets at Fair Value	$ 54

Equity Earnings of Joint Ventures (Details Textual) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Dec. 30, 2018	Dec. 31, 2017	Jun. 28, 2015	Dec. 30, 2018	Dec. 31, 2017	Jul. 01, 2018
Schedule Of Equity Method Investments [Line Items]
Equity (loss) earnings of joint ventures	$ 1,476	$ 1,473		$ 2,385	$ 2,499
VAST LLC
Schedule Of Equity Method Investments [Line Items]
STRATTEC's percentage ownership in joint venture	33.33%			33.33%
Equity (loss) earnings of joint ventures	$ 1,487	1,404		$ 2,402	2,439
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			$ 2,600		$ 2,600
Percentage of funding in joint venture through loans			100.00%	100.00%
Percentage of losses of joint venture, up to committed financial support, recognized by STRATTEC			100.00%	100.00%
Equity (loss) earnings of joint ventures	$ (11,000)	$ 69,000		$ (17,000)	$ 60,000

- Definition

This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.

+ References + Details

Equity Earnings of Joint Ventures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 30, 2018	Dec. 31, 2017	Dec. 30, 2018	Dec. 31, 2017
Summarized statements of operations
Equity (loss) earnings of joint ventures	$ 1,476	$ 1,473	$ 2,385	$ 2,499
VAST LLC
Summarized statements of operations
Net Sales	47,719	45,333	87,775	83,843
Cost of Goods Sold	37,768	35,263	68,870	64,276
Gross Profit (Loss)	9,951	10,070	18,905	19,567
Engineering, Selling and Administrative Expense	6,719	6,325	12,869	12,346
Income (Loss) From Operations	3,232	3,745	6,036	7,221
Other Income (Expense), net	1,907	636	2,304	786
Income before Provision for Income Taxes	5,139	4,381	8,340	8,007
Provision for Income Taxes	658	162	1,125	684
Net Income (Loss)	4,481	4,219	7,215	7,323
STRATTEC’s Share of VAST LLC Net Income	1,494	1,406	2,405	2,441
Intercompany Profit Elimination	(7)	(2)	(3)	(2)
Equity (loss) earnings of joint ventures	$ 1,487	$ 1,404	$ 2,402	$ 2,439

Equity Earnings of Joint Ventures (Details 1) - Equity Method Investee - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 30, 2018	Dec. 31, 2017	Dec. 30, 2018	Dec. 31, 2017
VAST LLC
Schedule Of Equity Method Investments [Line Items]
Sales to Joint Venture	$ 1,375	$ 987	$ 1,873	$ 1,583
Purchases from VAST LLC	86	84	128	129
Expenses Charged to VAST LLC	434	171	779	383
Expenses Charged from VAST LLC	$ 229	312	$ 436	530
SAL LLC
Schedule Of Equity Method Investments [Line Items]
Sales to Joint Venture		$ 147		$ 182

Credit Facilities (Details Textual) - USD ($)	6 Months Ended
Credit Facilities (Details Textual) - USD ($)	Dec. 30, 2018	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	The 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 \| Scenario Forecast
Line Of Credit Facility [Line Items]
Secured revolving credit facility		$ 25,000,000

Credit Facilities (Details) - USD ($)
$ in Thousands

Dec. 30, 2018

Jul. 01, 2018

Line Of Credit Facility [Line Items]

Outstanding Borrowing

$ 46,000

^[1]

$ 51,000

STRATTEC Credit Facility

Line Of Credit Facility [Line Items]

Outstanding Borrowing

21,000

23,000

ADAC-STRATTEC Credit Facility

Line Of Credit Facility [Line Items]

Outstanding Borrowing

$ 25,000

$ 28,000

[1]

Unaudited

- 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

Credit Facilities (Details 1) - USD ($) $ in Thousands	6 Months Ended
Credit Facilities (Details 1) - USD ($) $ in Thousands	Dec. 30, 2018	Dec. 31, 2017
STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Average Outstanding Borrowings	$ 23,319	$ 20,308
Weighted Average Interest Rate	3.20%	2.30%
ADAC-STRATTEC Credit Facility
Line Of Credit Facility [Line Items]
Average Outstanding Borrowings	$ 26,929	$ 18,082
Weighted Average Interest Rate	3.20%	2.40%

Commitments and Contingencies (Details Textual) - USD ($)

6 Months Ended

Dec. 30, 2018

Jul. 01, 2018

Commitments And Contingencies Disclosure [Abstract]

Environmental reserve originally established in 1995

$ 3,000,000

Environmental

1,287,000

^[1]

$ 1,291,000

Cost incurred inception to date on installation and on-going monitoring of wells

$ 588,000

[1]

Unaudited

Shareholders' Equity (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Dec. 30, 2018

Dec. 31, 2017

Dec. 30, 2018

Dec. 31, 2017

Summary of activity impacting shareholders' equity

Beginning Balance

$ 187,932

$ 174,429

$ 183,246

$ 172,714

Net (loss) income

(21,598)

3,835

(17,169)

7,104

Dividend Declared

(515)

(509)

(1,029)

(1,017)

Dividend Declared – Non- controlling Interests of Subsidiaries

(200)

(984)

(2,017)

Translation adjustments

(1,829)

(2,591)

(998)

(2,294)

Stock Based Compensation

241

250

626

621

Pension and postretirement plans, net of tax

19,677

277

19,993

555

Stock Option Exercises

139

Employee Stock Purchases

Ending Balance

183,757

^[1]

175,856

183,757

^[1]

175,856

Common Stock

Summary of activity impacting shareholders' equity

Beginning Balance

Ending Balance

Capital in Excess of Par Value

Summary of activity impacting shareholders' equity

Beginning Balance

95,537

94,198

95,140

93,813

Stock Based Compensation

241

250

626

621

Stock Option Exercises

139

Employee Stock Purchases

Ending Balance

95,818

94,603

95,818

94,603

Retained Earnings

Summary of activity impacting shareholders' equity

Beginning Balance

239,115

227,861

236,162

225,913

Net (loss) income

(22,164)

2,882

(18,697)

5,338

Dividend Declared

(515)

(509)

(1,029)

(1,017)

Reclassification of Stranded Tax Effects

4,047

Ending Balance

220,483

230,234

220,483

230,234

Accumulated Other Comprehensive Loss

Summary of activity impacting shareholders' equity

Beginning Balance

(32,946)

(32,235)

(33,439)

(32,888)

Translation adjustments

(1,332)

(1,718)

(1,155)

(1,343)

Pension and postretirement plans, net of tax

19,677

277

19,993

555

Reclassification of Stranded Tax Effects

(4,047)

Ending Balance

(18,648)

(33,676)

(18,648)

(33,676)

Treasury Stock

Summary of activity impacting shareholders' equity

Beginning Balance

(135,767)

(135,811)

(135,778)

(135,822)

Employee Stock Purchases

Ending Balance

(135,758)

(135,801)

(135,758)

(135,801)

Non-Controlling Interest

Summary of activity impacting shareholders' equity

Beginning Balance

21,920

20,344

21,088

21,626

Net (loss) income

566

953

1,528

1,766

Dividend Declared – Non- controlling Interests of Subsidiaries

(200)

(984)

(2,017)

Translation adjustments

(497)

(873)

157

(951)

Ending Balance

$ 21,789

$ 20,424

$ 21,789

$ 20,424

[1]

Unaudited

Revenue from Contracts with Customers (Details Textual)	6 Months Ended
Revenue from Contracts with Customers (Details Textual)	Dec. 30, 2018
Minimum
Revenue From Contracts With Customers [Line Items]
Payment generally occurs after shipment date	45 days
Minimum \| New Vehicle Production \| Long-term Supply Agreements
Revenue From Contracts With Customers [Line Items]
Production period	4 years
Minimum \| Service Parts Production \| Long-term Supply Agreements
Revenue From Contracts With Customers [Line Items]
Production period	10 years
Maximum
Revenue From Contracts With Customers [Line Items]
Payment generally occurs after shipment date	90 days
Maximum \| New Vehicle Production \| Long-term Supply Agreements
Revenue From Contracts With Customers [Line Items]
Production period	6 years
Maximum \| Service Parts Production \| Long-term Supply Agreements
Revenue From Contracts With Customers [Line Items]
Production period	15 years

Contract Liability Balances (Details) $ in Thousands	6 Months Ended
Contract Liability Balances (Details) $ in Thousands	Dec. 30, 2018 USD ($)
Revenue From Contract With Customer [Abstract]
Balance, July 2, 2018	$ 1,195
Discounts Recorded as a Reduction in Sales	888
Payments of Discounts to Customers	(784)
Other	(4)
Balance, December 30, 2018	$ 1,295

Revenue by Product Group (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Revenue by Product Group (Details) - USD ($) $ in Thousands	Dec. 30, 2018	Dec. 31, 2017	Dec. 30, 2018	Dec. 31, 2017
Product Information [Line Items]
Revenue	$ 112,913	$ 103,182	$ 230,072	$ 205,642
Keys & Locksets
Product Information [Line Items]
Revenue	32,693	26,937	67,045	52,638
Power Access
Product Information [Line Items]
Revenue	20,396	18,677	42,795	41,750
Door Handles & Exterior Trim
Product Information [Line Items]
Revenue	25,803	21,734	51,761	39,570
Driver Controls
Product Information [Line Items]
Revenue	10,091	12,370	20,838	24,949
Aftermarket & OE Service
Product Information [Line Items]
Revenue	10,776	10,533	21,760	21,823
Latches
Product Information [Line Items]
Revenue	11,709	10,561	22,764	20,081
Other
Product Information [Line Items]
Revenue	$ 1,445	$ 2,370	$ 3,109	$ 4,831

Revenue by Customer or Customer Group (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 30, 2018	Dec. 31, 2017	Dec. 30, 2018	Dec. 31, 2017
Entity Wide Revenue Major Customer [Line Items]
Revenue	$ 112,913	$ 103,182	$ 230,072	$ 205,642
Fiat Chrysler Automobiles
Entity Wide Revenue Major Customer [Line Items]
Revenue	25,610	22,002	55,907	46,104
General Motors Company
Entity Wide Revenue Major Customer [Line Items]
Revenue	23,855	21,396	49,142	41,734
Ford Motor Company
Entity Wide Revenue Major Customer [Line Items]
Revenue	16,114	16,059	31,637	31,432
Tier 1 Customers
Entity Wide Revenue Major Customer [Line Items]
Revenue	18,463	16,514	36,279	32,257
Commercial and Other OEM Customers
Entity Wide Revenue Major Customer [Line Items]
Revenue	21,468	19,761	42,396	37,628
Hyundai / Kia
Entity Wide Revenue Major Customer [Line Items]
Revenue	$ 7,403	$ 7,450	$ 14,711	$ 16,487

Summary of Other (Expense) Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 30, 2018	Dec. 31, 2017	Dec. 30, 2018	Dec. 31, 2017
Other Income and Expenses [Abstract]
Foreign Currency Transaction Loss	$ 359	$ 556	$ (69)	$ 419
Unrealized (Loss) Gain on Peso Forward Contracts	(132)	(821)	93	(1,079)
Realized Gain on Peso Forward Contracts	50	201	222	659
Pension and Postretirement Plans (Cost) Credit	(317)	112	(635)	224
Rabbi Trust (Loss) Gain	(279)	103	(200)	192
Other	57	(42)	82	(219)
Other (expense) income, net	$ (262)	$ 109	$ (507)	$ 196

Income Taxes (Details Textual) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
Income Taxes (Details Textual) - USD ($)	Dec. 30, 2018	Dec. 31, 2017	Dec. 30, 2018	Dec. 31, 2017	Jul. 01, 2018
Income Tax [Line Items]
Measurement period adjustments			$ 372,000
Tax benefit resulting from termination of qualified, noncontributory defined benefit pension plan	$ 7,900,000		$ 7,900,000
Effective income tax rate	5.10%	18.50%
2017 Tax Cuts and Jobs Act
Income Tax [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 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		$ 545,000		$ 545,000

(Loss) Earnings Per Share (''EPS'') (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 30, 2018	Dec. 31, 2017	Dec. 30, 2018	Dec. 31, 2017
Reconciliation of the components of the basic and diluted per share
Net income	$ (22,164)	$ 2,882	$ (18,697)	$ 5,338
Net income, Diluted (loss) Earnings Per Share	$ (22,164)	$ 2,882	$ (18,697)	$ 5,338
Basic (Loss) Earnings Per Share, Number of shares	3,675	3,631	3,663	3,621
Stock Option and Restricted Stock Awards, Number of shares	43	84	52	77
Diluted (Loss) Earnings Per Share, Number of shares	3,718	3,715	3,715	3,698
Basic (Loss) Earnings Per Share	$ (6.03)	$ 0.79	$ (5.10)	$ 1.47
Diluted (Loss) Earnings Per Share	$ (5.96)	$ 0.78	$ (5.03)	$ 1.44

- 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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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

(Loss) Earnings Per Share (''EPS'') (Details Textual) - shares	6 Months Ended
	Dec. 30, 2018	Dec. 31, 2017
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from (loss) earnings per share computation	42,100	9,010

Stock-Based Compensation (Details Textual) - USD ($) $ in Millions	6 Months Ended
	Dec. 30, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options, granted	0	0
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options expires after date of grant	10 years
Employee Stock Option \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period after the date of grant	1 year
Employee Stock Option \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period after the date of grant	4 years
Restricted stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost related to unvested restricted stock grants	$ 1.6
Weighted average period over which unrecognized compensation is expected to be recognized	1 year 1 month 6 days
Restricted stock \| Minimum \| Prior to August 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period after the date of grant	3 years
Restricted stock \| Minimum \| August 2016 and Thereafter
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period after the date of grant	1 year
Restricted stock \| Maximum \| Prior to August 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period after the date of grant	5 years
Restricted stock \| Maximum \| August 2016 and Thereafter
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period after the date of grant	5 years
Omnibus Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation arrangement by share based payment award number of shares authorized	1,850,000
Shares of common stock available for grant	147,939

Stock-Based Compensation (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Dec. 30, 2018 USD ($) $ / shares shares
Share Based Compensation [Abstract]
Shares, Beginning Balance \| shares	133,074
Shares, Exercised \| shares	(2,914)
Shares, Ending Balance \| shares	130,160
Shares, Exercisable \| shares	130,160
Weighted Average Exercise Price, Beginning Balance \| $ / shares	$ 29.37
Weighted Average Exercise Price, Exercised \| $ / shares	10.92
Weighted Average Exercise Price, Ending Balance \| $ / shares	29.79
Weighted Average Exercise Price, Exercisable \| $ / shares	$ 29.79
Weighted Average Remaining Contractual Term, Outstanding	2 years 10 months 24 days
Weighted Average Remaining Contractual Term, Exercisable, Outstanding	2 years 10 months 24 days
Aggregate Intrinsic Value, Outstanding \| $	$ 743
Aggregate Intrinsic Value, Exercisable \| $	$ 743

Stock-Based Compensation (Details 2) - Restricted stock	6 Months Ended
Stock-Based Compensation (Details 2) - Restricted stock	Dec. 30, 2018 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Nonvested, Shares Beginning Balance \| shares	69,125
Granted, Shares \| shares	34,050
Vested, Shares \| shares	(37,343)
Forfeited, Shares \| shares	(725)
Nonvested, Shares Ending Balance \| shares	65,107
Nonvested, Weighted Average Grant Date Fair Value Beginning Balance \| $ / shares	$ 49.02
Granted, Weighted Average Grant Date Fair Value \| $ / shares	37.25
Vested, Weighted Average Grant Date Fair Value \| $ / shares	54.93
Forfeited, Weighted Average Grant Date Fair Value \| $ / shares	54.28
Nonvested, Weighted Average Grant Date Fair Value Ending Balance \| $ / shares	$ 39.42

Pension and Postretirement Benefits (Details Textual) - USD ($)	3 Months Ended	6 Months Ended
	Dec. 30, 2018	Dec. 30, 2018	Dec. 31, 2017	Jul. 01, 2018
Defined Benefit Plan Disclosure [Line Items]
Proposed date the Board of Directors approved to terminate the qualified retirement 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	$ 32,434,000	32,434,000
Remaining non-cash compensation expense		8,000,000
Rabbi Trust Assets - SERP	2,600,000	2,600,000		$ 2,800,000
Postretirement plan annual benefit limit for future eligible retirees	$ 4,000	$ 4,000
Other postretirement benefits maximum benefit period		5 years
Contributions to the qualified pension plan		$ 0	$ 0
Supplemental Employee Retirement Plan, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Percentage of participant's base salary received as Supplemental Retirement Benefits		8.00%
Vesting period, SERP		5 years

Pension and Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 30, 2018	Dec. 31, 2017	Dec. 30, 2018	Dec. 31, 2017
COMPONENTS OF NET PERIODIC BENEFIT COST:
Plan Settlements	$ 32,434		$ 32,434
Pension Benefits
COMPONENTS OF NET PERIODIC BENEFIT COST:
Service cost	15	$ 16	30	$ 33
Interest cost	1,032	964	2,064	1,928
Expected return on plan assets	(1,138)	(1,527)	(2,276)	(3,055)
Plan Settlements	(32,434)		(32,434)
Amortization of prior service cost (credit)		3		6
Amortization of unrecognized net loss	416	508	832	1,017
Net periodic benefit (credit) cost	(32,109)	(36)	(31,784)	(71)
Postretirement Benefits
COMPONENTS OF NET PERIODIC BENEFIT COST:
Service cost	3	4	6	7
Interest cost	11	11	22	22
Amortization of prior service cost (credit)	(110)	(191)	(220)	(382)
Amortization of unrecognized net loss	107	120	214	240
Net periodic benefit (credit) cost	$ 11	$ (56)	$ 22	$ (113)