STRATTEC SECURITY CORP
For the period ended Jun 30, 2024. Filed Sep 5, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Sep 5, 2024
STRT$61.59-0.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS, EXCEPT SHARE AMOUNTS AND PER SHARE AMOUNTS)
| June 30, 2024 | July 2, 2023 | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $25,410 | $20,571 |
| Receivables, less allowance for credit losses of $500 at June 30, 2024 and July 2, 2023 | 99,297 | 89,811 |
| Inventories, net | 81,649 | 77,597 |
| Customer tooling in progress, net | 22,173 | 20,800 |
| Income taxes recoverable | 319 | 2,711 |
| Value added tax recoverable | 19,684 | 7,912 |
| Other current assets | 5,282 | 6,380 |
| Total current assets | 253,814 | 225,782 |
| DEFERRED INCOME TAXES | 17,593 | 13,619 |
| OTHER LONG-TERM ASSETS | 6,698 | 7,083 |
| PROPERTY, PLANT AND EQUIPMENT, NET | 86,184 | 94,446 |
| $364,289 | $340,930 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | $54,911 | $57,927 |
| Accrued liabilities: | ||
| Payroll and benefits | 28,953 | 22,616 |
| Value added tax payable | 9,970 | 6,499 |
| Income tax payable | 5,103 | 2,607 |
| Environmental | 1,390 | 1,390 |
| Warranty | 10,695 | 9,725 |
| Other | 7,266 | 8,222 |
| Total current liabilities | 118,288 | 108,986 |
| BORROWINGS UNDER CREDIT FACILITIES | 13,000 | 13,000 |
| ACCRUED PENSION OBLIGATIONS | 1,379 | 1,206 |
| ACCRUED POSTRETIREMENT OBLIGATIONS | 1,050 | 1,157 |
| OTHER LONG-TERM LIABILITIES | 4,957 | 5,557 |
| SHAREHOLDERS’ EQUITY: | ||
| Common stock, authorized 18,000,000, $.01 par value, issued 7,586,920 shares at June 30, 2024 and 7,530,170 shares at July 2, 2023 | 76 | 75 |
| Capital in excess of par value | 101,024 | 100,309 |
| Retained earnings | 250,612 | 234,299 |
| Accumulated other comprehensive loss | (15,689) | (14,194) |
| Less: Treasury stock at cost (3,598,126 shares at June 30, 2024 and 3,601,124 shares at July 2, 2023) | (135,478) | (135,526) |
| Total STRATTEC SECURITY CORPORATION shareholders’ equity | 200,545 | 184,963 |
| Non-controlling interest | 25,070 | 26,061 |
| Total shareholders’ equity | 225,615 | 211,024 |
| $364,289 | $340,930 | |
The accompanying Notes to Financial Statements are an integral part of these 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.