STRATTEC SECURITY CORP
For the period ended Jun 30, 2024. Filed Sep 5, 2024.
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FY2024 · Filed Sep 5, 2024
STRT$61.02-0.9%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEM ENTS OF CASH FLOWS
(IN THOUSANDS)
| Years Ended | ||
|---|---|---|
| June 30, 2024 | July 2, 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income (loss) | $16,428 | $(8,949) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Equity loss (earnings) of joint ventures | 331 | (1,559) |
| Depreciation | 16,547 | 17,485 |
| Foreign currency transaction (gain) loss | (2,153) | 2,935 |
| Loss on settlement of pension obligation | — | 217 |
| Deferred income taxes | (4,711) | (4,937) |
| Stock-based compensation expense | 1,467 | 1,466 |
| Change in operating assets and liabilities: | ||
| Receivables | (9,356) | (13,696) |
| Inventories | (4,052) | 2,885 |
| Other assets | (13,562) | (10,483) |
| Accounts payable and accrued liabilities | 10,738 | 23,964 |
| Other, net | 588 | 767 |
| Net cash provided by operating activities | 12,265 | 10,095 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Investment in joint ventures | — | (278) |
| Proceeds from Sale of interest in VAST LLC | 2,000 | 26,170 |
| Purchase of VAST Korea net assets | — | 354 |
| Additions to property, plant and equipment | (9,788) | (17,370) |
| Proceeds received on sale of property, plant and equipment | — | 25 |
| Net cash (used in) provided by investing activities | (7,788) | 8,901 |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Borrowings under credit facilities | 2,000 | 17,000 |
| Repayments under credit facilities | (2,000) | (15,000) |
| Purchase of SPA non-controlling interest | — | (9,019) |
| Exercise of stock options and employee stock purchases | 72 | 183 |
| Dividends paid to non-controlling interests of subsidiaries | — | (600) |
| Net cash provided by (used in) financing activities | 72 | (7,436) |
| FOREIGN CURRENCY IMPACT ON CASH | 290 | 237 |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 4,839 | 11,797 |
| CASH AND CASH EQUIVALENTS | ||
| Beginning of year | 20,571 | 8,774 |
| End of year | $25,410 | $20,571 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||
| Cash Paid During the Period For: | ||
| Income taxes | $3,801 | $2,759 |
| Interest | $888 | $890 |
| Non-Cash Investing Activities: | ||
| Purchase price receivable from sale of interest in VAST LLC | $— | $(2,000) |
| Change in capital expenditures in accounts payable | $171 | $(1,437) |
The accompanying Notes to Financial Statements are an integral part of these Consolidated Statements of Cash Flows.
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