Strattec security corp (STRT)
Balance Sheet / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jul'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11
ASSETS
Current Assets:
Cash and cash equivalents

10,173

9,285

11,241

7,809

9,202

11,373

10,345

8,090

8,090

7,037

8,385

8,498

8,361

4,991

8,190

17,069

15,477

23,158

17,923

19,967

25,695

28,035

19,843

22,545

19,756

20,494

20,388

12,806

20,307

16,255

18,569

16,274

17,487

15,664

14,763

13,188

17,250

Receivables, net

72,805

65,893

78,932

84,230

87,847

67,256

78,525

73,832

73,832

70,527

60,587

64,016

64,933

70,711

59,393

68,060

63,726

55,606

60,802

56,701

58,807

62,224

61,537

79,321

68,822

54,448

44,348

52,013

47,514

49,969

40,709

45,051

44,496

41,591

34,907

41,232

39,649

Inventories:
Finished products

18,531

15,350

13,534

11,582

12,544

14,730

13,418

-

13,410

9,665

11,748

10,375

-

11,164

11,740

10,693

-

11,487

13,576

10,924

-

10,750

12,536

8,610

-

9,414

10,685

8,673

-

8,215

8,774

7,545

-

7,435

6,181

7,223

-

Work in process

11,775

11,756

11,120

10,529

11,485

11,182

10,828

-

10,059

9,655

9,758

10,062

-

9,275

9,297

8,788

-

8,990

8,574

8,454

-

8,447

8,181

7,487

-

6,959

6,553

6,156

-

6,267

6,203

6,242

-

5,737

5,806

5,731

-

Purchased materials

32,357

29,897

31,371

29,376

26,948

26,180

26,149

-

27,185

28,339

25,349

23,401

-

21,101

21,392

22,045

-

24,106

25,842

25,210

-

18,762

20,471

18,150

-

13,995

14,471

14,141

-

12,856

12,987

12,995

-

11,191

12,642

12,629

-

Excess and obsolete reserve

4,315

4,492

4,525

4,225

4,155

4,104

4,116

-

4,000

4,678

4,568

4,443

-

3,330

3,343

2,840

-

2,870

2,772

2,576

-

2,124

2,295

2,200

-

1,722

1,674

1,626

-

1,500

1,428

1,300

-

1,304

1,324

1,271

-

Inventories, net

58,348

52,511

51,500

47,262

46,822

47,988

46,279

46,654

46,654

42,981

42,287

39,395

35,476

38,210

39,086

38,686

38,683

41,713

45,220

42,012

34,786

35,835

38,893

32,047

30,502

28,646

30,035

27,344

24,312

25,838

26,536

25,482

21,236

23,059

23,305

24,312

22,135

Customer tooling in progress, net

-

-

-

-

-

-

-

12,514

-

-

-

-

11,544

-

-

-

6,971

-

-

-

3,473

-

-

-

5,292

-

-

-

2,278

-

-

-

4,434

-

-

-

2,788

Income taxes recoverable

-

-

-

-

-

-

-

3,559

-

-

-

-

1,987

-

-

-

3,826

-

-

-

1,006

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,671

-

-

-

4,267

-

-

-

5,219

-

-

-

4,026

Other current assets

15,216

15,789

14,024

17,331

15,609

19,707

20,469

6,454

22,527

27,401

23,278

21,959

6,704

16,603

14,966

14,985

5,768

19,908

19,507

18,468

4,839

14,546

16,143

17,572

5,596

16,069

14,855

15,308

7,821

13,126

16,195

17,053

8,419

17,366

16,516

15,120

8,554

Total current assets

156,542

143,478

155,697

156,632

159,480

146,324

155,618

151,103

151,103

147,946

134,537

133,868

129,005

130,515

121,635

138,800

134,451

140,385

143,452

137,148

128,606

140,640

136,416

151,485

135,639

119,657

109,626

107,471

106,499

105,188

102,009

103,860

101,291

97,680

89,491

93,852

94,402

Investment in joint ventures

23,190

24,058

23,216

23,528

23,876

22,989

21,787

22,192

22,192

21,367

19,724

18,416

16,840

15,423

14,713

14,419

14,168

15,365

15,464

14,936

15,326

10,865

10,687

10,341

9,977

9,981

9,809

9,464

9,166

8,132

8,400

8,352

8,139

8,890

7,299

7,293

7,276

Deferred Income Taxes

3,952

3,958

3,388

2,933

1,210

1,112

-

-

-

1,620

1,558

241

256

5,302

4,214

5,018

5,387

-

-

-

4,960

-

-

-

-

-

-

-

-

6,111

9,735

9,742

9,742

3,667

3,820

3,945

3,639

LOAN TO JOINT VENTURE

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,500

1,500

1,500

Other long-term assets

6,411

7,045

15,520

11,523

10,877

10,620

17,542

17,338

17,338

17,598

17,182

16,665

16,022

9,561

8,899

6,395

3,021

14,527

11,269

10,930

10,816

13,400

12,862

12,322

11,639

7,682

6,867

5,258

2,420

462

486

511

536

560

585

610

635

Property, plant and equipment

287,071

293,287

289,170

287,421

282,660

278,589

275,549

-

269,716

268,246

260,901

257,081

-

241,094

226,382

220,369

-

207,413

201,674

197,131

-

191,099

187,107

178,781

-

171,394

168,976

165,726

-

159,616

157,164

154,955

-

148,831

145,463

142,968

-

Less: accumulated depreciation

179,655

178,247

173,192

169,301

164,819

160,796

157,548

-

153,174

149,697

145,380

142,575

-

138,417

135,241

133,385

-

130,404

128,142

125,517

-

121,565

119,832

118,112

-

117,001

115,406

113,748

-

110,389

108,879

107,341

-

104,406

103,198

102,187

-

Net property, plant and equipment

107,416

115,040

115,978

118,120

117,841

117,793

118,001

116,542

116,542

118,549

115,521

114,506

111,591

102,677

91,141

86,984

85,149

77,009

73,532

71,614

71,126

69,534

67,275

60,669

55,781

54,393

53,570

51,978

51,415

49,227

48,285

47,614

46,330

44,425

42,265

40,781

40,636

Total assets

297,511

293,579

313,799

312,736

313,284

298,838

312,948

307,175

307,175

307,080

288,522

283,696

273,714

263,478

240,602

251,616

242,176

247,286

243,717

234,628

230,834

234,439

227,240

234,817

213,036

191,713

179,872

174,171

169,500

169,120

168,915

170,079

166,038

155,222

144,960

147,981

148,088

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Accounts payable

43,104

31,693

43,996

41,889

46,207

35,652

39,010

38,439

38,439

44,268

37,405

39,908

39,679

40,438

32,294

37,008

32,416

29,400

35,136

34,050

27,838

28,836

33,179

38,138

36,053

29,916

25,923

28,452

25,543

26,964

22,483

26,253

24,149

24,373

21,139

24,906

22,851

Accrued Liabilities:
Loans from related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,000

1,000

1,450

1,850

Payroll and benefits

13,549

15,624

20,366

17,339

12,761

12,482

12,895

13,393

13,393

12,371

11,082

12,049

13,055

12,615

10,709

11,127

11,210

12,501

12,222

11,379

16,107

19,983

19,667

18,888

18,058

14,013

12,783

10,513

13,993

12,492

16,056

15,373

19,233

14,921

12,155

11,837

15,546

Environmental

1,300

1,300

1,300

1,278

1,300

1,287

1,290

1,291

1,291

1,295

1,296

1,307

1,308

1,312

1,320

1,359

1,365

1,367

1,376

1,382

1,383

1,385

1,389

1,396

1,397

-

-

-

-

-

-

-

-

-

-

-

-

Environmental

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,397

1,404

1,410

1,414

1,416

1,421

1,431

1,436

1,442

1,457

1,474

1,478

Warranty

7,850

7,800

7,793

7,900

7,995

7,921

7,870

7,800

7,800

6,297

6,012

5,535

5,550

7,798

7,805

9,186

9,228

9,425

9,431

11,787

11,835

3,415

3,640

3,340

3,462

2,763

2,766

2,691

2,500

4,131

4,992

5,284

4,958

4,323

3,838

4,217

3,856

Income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

527

-

-

-

-

-

-

-

2,934

-

-

-

1,734

Other

10,306

9,047

8,753

10,857

10,563

8,582

9,404

7,870

7,870

7,498

6,402

7,395

8,303

7,620

9,023

8,385

9,996

7,414

9,573

8,589

7,572

6,777

6,455

14,446

5,766

7,565

6,185

6,252

5,025

6,131

8,254

7,920

4,263

7,189

7,486

7,355

3,673

Borrowings under credit facilities

-

-

-

-

-

-

2,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,500

3,000

3,000

2,250

1,500

2,250

1,500

-

-

-

-

-

Total current liabilities

76,072

65,433

82,183

79,263

78,805

65,924

72,469

68,793

68,793

71,729

62,197

66,194

67,895

69,783

61,151

67,065

64,215

60,107

67,738

67,187

64,735

60,396

64,330

76,208

65,263

58,154

52,061

52,318

50,725

52,634

55,456

57,761

56,973

53,248

47,075

51,239

50,988

Commitments and Contingencies

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

0

-

-

-

0

-

-

-

0

-

-

-

0

-

-

-

0

Borrowings under credit facilities

27,000

32,000

36,000

42,000

44,000

46,000

49,000

51,000

51,000

48,000

46,000

40,000

30,000

26,000

20,000

24,000

20,000

18,000

10,000

6,500

10,000

11,000

3,500

4,000

2,500

-

-

-

-

-

-

-

-

-

-

-

0

DEFERRED INCOME TAXES

-

-

-

-

-

-

372

961

961

-

-

-

-

-

-

-

-

5,077

4,581

4,574

-

5,644

5,184

5,168

5,127

1,355

1,090

1,020

1,009

-

-

-

-

-

-

-

-

Accrued pension obligations

1,754

1,723

1,693

1,663

1,645

1,615

1,584

1,553

1,553

1,580

1,551

1,521

1,492

1,542

1,517

1,491

1,466

1,407

1,382

1,357

1,331

1,715

1,684

1,652

1,619

1,680

1,610

1,537

1,464

15,071

18,006

18,979

18,202

2,659

2,922

3,684

3,447

Accrued postretirement obligations

649

728

736

762

677

723

784

826

826

802

857

934

1,003

1,050

1,144

1,191

1,262

1,396

1,477

1,575

1,657

1,772

1,863

2,027

2,223

2,338

2,535

2,644

2,717

2,636

3,149

3,264

3,465

2,755

3,012

3,311

3,589

Other long-term liabilities

4,781

4,846

4,916

1,232

831

819

807

796

796

1,787

2,061

618

610

743

1,195

925

721

731

764

757

710

207

1,440

1,421

1,401

1,333

1,753

1,729

1,705

-

-

-

-

85

489

804

-

Shareholders’ Equity:
Common stock, authorized 12,000,000 shares, $.01 par value, 7,358,812 issued shares at March 29, 2020 and 7,304,994 issued shares at June 30, 2019

74

74

74

73

73

73

73

73

73

72

72

72

72

72

72

72

72

71

71

71

71

71

71

71

71

71

70

70

70

70

69

69

69

69

69

69

69

Capital in excess of par value

97,773

97,601

97,128

96,491

96,215

95,818

95,537

95,140

95,140

94,869

94,603

94,198

93,813

93,381

93,008

92,567

92,076

91,399

91,003

90,536

89,560

88,793

88,464

87,881

87,054

85,983

84,098

83,133

82,684

81,689

81,151

80,708

80,621

80,438

80,182

79,947

79,767

Retained earnings

222,442

219,973

221,839

221,117

221,696

220,483

239,115

236,162

236,162

232,695

230,234

227,861

225,913

224,641

221,662

221,767

220,728

220,610

219,187

216,250

213,442

212,670

208,722

203,371

194,498

189,149

185,936

182,446

179,614

176,398

175,304

173,924

171,590

168,690

166,299

165,086

164,138

Accumulated other comprehensive loss

-22,270

-18,486

-19,691

-18,568

-17,737

-18,648

-32,946

-33,439

-33,439

-30,782

-33,676

-32,235

-32,888

-37,992

-40,752

-38,711

-37,673

-29,686

-29,296

-29,203

-26,859

-23,313

-22,562

-20,558

-20,198

-21,159

-21,471

-22,093

-22,212

-30,452

-35,087

-35,050

-35,757

-22,982

-24,314

-24,619

-21,750

Less: treasury stock, at cost (3,610,411 shares at March 29, 2020 and 3,613,439 shares at June 30, 2019)

135,676

135,693

135,711

135,725

135,742

135,758

135,767

135,778

135,778

135,790

135,801

135,811

135,822

135,835

135,850

135,860

135,871

135,883

135,890

135,897

135,902

135,907

135,912

135,915

135,919

135,924

135,928

135,934

135,938

135,944

135,955

135,961

135,971

135,980

135,989

136,000

136,009

Total STRATTEC SECURITY CORPORATION shareholders’ equity

162,343

163,469

163,639

163,388

164,505

161,968

166,012

162,158

162,158

161,064

155,432

154,085

151,088

144,267

138,140

139,835

139,332

146,511

145,075

141,757

140,312

142,314

138,783

134,850

125,506

118,120

112,705

107,622

104,218

91,761

85,482

83,690

80,552

90,235

86,247

84,483

86,215

Non-controlling interest

24,912

25,380

24,632

24,428

22,821

21,789

21,920

21,088

21,088

22,118

20,424

20,344

21,626

20,093

17,455

17,109

15,180

14,057

12,700

10,921

12,089

11,391

10,456

9,491

9,397

8,733

8,118

7,301

7,662

7,018

6,822

6,385

6,846

6,240

5,215

4,460

3,849

Total shareholders’ equity

187,255

188,849

188,271

187,816

187,326

183,757

187,932

183,246

183,246

183,182

175,856

174,429

172,714

164,360

155,595

156,944

154,512

160,568

157,775

152,678

152,401

153,705

149,239

144,341

134,903

126,853

120,823

114,923

111,880

98,779

92,304

90,075

87,398

96,475

91,462

88,943

90,064

Total liabilities and shareholders' equity

297,511

293,579

313,799

312,736

313,284

298,838

312,948

307,175

307,175

307,080

288,522

283,696

273,714

263,478

240,602

251,616

242,176

247,286

243,717

234,628

230,834

234,439

227,240

234,817

213,036

191,713

179,872

174,171

169,500

169,120

168,915

170,079

166,038

155,222

144,960

147,981

148,088