STRATTEC SECURITY CORP
For the period ended Dec 31, 2023. Filed Feb 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 8, 2024
STRT$61.59-0.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
(In Thousands, Except Share Amounts)
| December 31,2023 | July 2, 2023 | |
|---|---|---|
| ASSETS | ||
| Current Assets: | ||
| Cash and cash equivalents | $11,575 | $20,571 |
| Receivables, net | 70,802 | 89,811 |
| Inventories: | ||
| Finished products | 18,688 | 17,196 |
| Work in process | 19,374 | 17,492 |
| Purchased materials | 58,182 | 50,024 |
| Excess and obsolete reserve | (6,805) | (7,115) |
| Inventories, net | 89,439 | 77,597 |
| Customer tooling in progress, net | 24,951 | 20,800 |
| Value-added tax recoverable | 17,906 | 7,912 |
| Other current assets | 7,624 | 9,091 |
| Total current assets | 222,297 | 225,782 |
| Deferred income taxes | 13,625 | 13,619 |
| Other long-term assets | 5,692 | 7,083 |
| Property, plant and equipment | 304,239 | 300,176 |
| Less: accumulated depreciation | (214,102) | (205,730) |
| Net property, plant and equipment | 90,137 | 94,446 |
| $331,751 | $340,930 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Current Liabilities: | ||
| Accounts payable | $41,308 | $57,927 |
| Accrued Liabilities: | ||
| Payroll and benefits | 23,110 | 22,616 |
| Value-added tax payable | 7,122 | 6,499 |
| Environmental | 1,390 | 1,390 |
| Warranty | 9,083 | 9,725 |
| Other | 11,323 | 10,829 |
| Total accrued liabilities | 52,028 | 51,059 |
| Borrowings under credit facilities – current | 13,000 | — |
| Total current liabilities | 106,336 | 108,986 |
| Borrowings under credit facilities – long-term | — | 13,000 |
| Accrued pension obligations | 1,286 | 1,206 |
| Accrued postretirement obligations | 1,154 | 1,157 |
| Other long-term liabilities | 5,334 | 5,557 |
| Shareholders’ Equity: | ||
| Common stock, authorized 18,000,000 shares, $.01 par value, 7,586,920 issued shares at December 31, 2023 and 7,530,170 issued shares at July 2, 2023 | 76 | 75 |
| Capital in excess of par value | 101,207 | 100,309 |
| Retained earnings | 239,486 | 234,299 |
| Accumulated other comprehensive loss | (13,878) | (14,194) |
| Less: treasury stock, at cost (3,599,575 shares at December 31, 2023 and 3,601,124 shares at July 2, 2023) | (135,501) | (135,526) |
| Total STRATTEC SECURITY CORPORATION shareholders’ equity | 191,390 | 184,963 |
| Non-controlling interest | 26,251 | 26,061 |
| Total shareholders’ equity | 217,641 | 211,024 |
| $331,751 | $340,930 | |
The accompanying notes are an integral part of these Condensed Consolidated Balance Sheets.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.