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Schedule II - Valuation and Qualifying Accounts
 12 Months Ended
Jun. 30, 2021
Notes to Financial Statements  
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

TWIN DISC, INCORPORATED AND SUBSIDIARIES

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

For the years ended June 30, 2021 and 2020 (in thousands)

 

  

Balance at

  

Charged to

      

Balance at

 
  

Beginning

  

Costs and

      

End of

 

Description

 

of Period

  

Expenses

  

Adjustments(1)

  

Period

 
                 

2021:

                

Allowance for losses on accounts receivable

 $1,740  $346  $216  $1,870 
                 

Reserve for inventory obsolescence

 $9,863  $1,178  $762  $10,279 
                 

Deferred tax valuation allowance

 $-  $24,420  $-  $24,420 
                 

2020:

                

Allowance for losses on accounts receivable

 $1,582  $399  $241  $1,740 
                 

Reserve for inventory obsolescence

 $10,463  $1,532  $2,132  $9,863 

 

(1) Activity primarily represents amounts written-off during the year, along with other adjustments (primarily foreign currency translation adjustments).