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Note L - Shareholders' Equity | 3 Months Ended
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Sep. 26, 2025
Notes to Financial Statements |
Equity [Text Block] |
L. | Shareholders’ Equity
The Company, from time to time, makes open market purchases of its common stock under authorizations given to it by the Board of Directors, of which 315.0 shares as of September 26, 2025 remain authorized for purchase. The Company did not make any open market purchases of its shares during the quarters ended September 26, 2025 and September 27, 2024. The following is a reconciliation of the Company’s equity balances for the first fiscal quarters of 2026 and 2025:
|  | Twin Disc, Inc. Shareholders’ Equity |
|  | Common Stock |  |  | Retained Earnings |  |  | Accumulated Other Comprehensive Income (Loss) |  |  | Treasury Stock |  |  | Non- Controlling Interest |  |  | Total Equity |
Balance, June 30, 2025 |  | $ | 42,269 |  |  | $ | 125,414 |  |  | $ | 3,730 |  |  | $ | (7,402 | ) |  | $ | 380 |  |  | $ | 164,391 |
Net income (loss) |  |  |  |  |  |  | (518 | ) |  |  |  |  |  |  |  |  |  |  | 106 |  |  |  | (412 | )
Dividends paid to shareholders |  |  |  |  |  |  | (566 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (566 | )
Translation adjustments |  |  |  |  |  |  |  |  |  |  | (2,516 | ) |  |  |  |  |  |  | 85 |  |  |  | (2,431 | )
Benefit plan adjustments, net of tax |  |  |  |  |  |  |  |  |  |  | 632 |  |  |  |  |  |  |  |  |  |  |  | 632 |
Unrealized gain (loss) on hedges, net of tax |  |  |  |  |  |  |  |  |  |  | 98 |  |  |  |  |  |  |  |  |  |  |  | 98 |
Compensation expense |  |  | 862 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 862 |
Stock awards, net |  |  | (5,318 | ) |  |  |  |  |  |  |  |  |  |  | 3,632 |  |  |  |  |  |  |  | (1,686 | )
Balance, September 26, 2025 |  | $ | 37,813 |  |  | $ | 124,330 |  |  | $ | 1,944 |  |  | $ | (3,770 | ) |  | $ | 571 |  |  | $ | 160,888 |
|  | Twin Disc, Inc. Shareholders’ Equity |
|  | Common Stock |  |  | Retained Earnings |  |  | Accumulated Other Comprehensive Income (Loss) |  |  | Treasury Stock |  |  | Non- Controlling Interest |  |  | Total Equity |
Balance, June 30, 2024 |  | $ | 41,798 |  |  | $ | 129,592 |  |  | $ | (6,905 | ) |  | $ | (9,783 | ) |  | $ | 352 |  |  | $ | 155,054 |
Net income (loss) |  |  |  |  |  |  | (2,765 | ) |  |  |  |  |  |  |  |  |  |  | (7 | ) |  |  | (2,772 | )
Dividends paid to shareholders |  |  |  |  |  |  | (570 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (570 | )
Translation adjustments |  |  |  |  |  |  |  |  |  |  | 7,021 |  |  |  |  |  |  |  | 143 |  |  |  | 7,164 |
Benefit plan adjustments, net of tax |  |  |  |  |  |  |  |  |  |  | 221 |  |  |  |  |  |  |  |  |  |  |  | 221 |
Unrealized gain (loss) on hedges, net of tax |  |  |  |  |  |  |  |  |  |  | (853 | ) |  |  |  |  |  |  |  |  |  |  | (853 | )
Compensation expense |  |  | 1,024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,024 |
Stock awards, net |  |  | (2,920 | ) |  |  |  |  |  |  |  |  |  |  | 1,671 |  |  |  |  |  |  |  | (1,249 | )
Balance, September 27, 2024 |  | $ | 39,902 |  |  | $ | 126,257 |  |  | $ | (516 | ) |  | $ | (8,112 | ) |  | $ | 488 |  |  | $ | 158,019 |
Reconciliations for the changes in accumulated other comprehensive income (loss), net of tax, by component for the quarters ended September 26, 2025 and September 27, 2024 are as follows:
|  | Translation Adjustment |  |  | Benefit Plan Adjustment |  |  | Cash Flow Hedges |  |  | Net Investment Hedges |
Balance, June 30, 2025 |  | $ | 15,036 |  |  | $ | (11,461 | ) |  | $ | 284 |  |  | $ | (129 | )
Translation adjustment during the quarter |  |  | (2,516 | ) |  |  | - |  |  |  | - |  |  |  | - |
Amounts reclassified from accumulated other comprehensive income (loss) |  |  | - |  |  |  | 632 |  |  |  | (31 | ) |  |  | 129 |
Net current period other comprehensive income (loss) |  |  | (2,516 | ) |  |  | 632 |  |  |  | (31 | ) |  |  | 129 |
Balance, September 26, 2025 |  | $ | 12,520 |  |  | $ | (10,829 | ) |  | $ | 253 |  |  | $ | - |
|  | Translation Adjustment |  |  | Benefit Plan Adjustment |  |  | Cash Flow Hedges |  |  | Net Investment Hedges |
Balance, June 30, 2024 |  | $ | (849 | ) |  | $ | (8,062 | ) |  | $ | 504 |  |  | $ | 1,502 |
Translation adjustment during the quarter |  |  | 7,021 |  |  |  | - |  |  |  | - |  |  |  | - |
Amounts reclassified from accumulated other comprehensive income (loss) |  |  | - |  |  |  | 221 |  |  |  | (169 | ) |  |  | (684 | )
Net current period other comprehensive income (loss) |  |  | 7,021 |  |  |  | 221 |  |  |  | (169 | ) |  |  | (684 | )
Balance, September 27, 2024 |  | $ | 6,172 |  |  | $ | (7,841 | ) |  | $ | 335 |  |  | $ | 818 |
Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter ended September 26, 2025 are as follows:
|  | Amount Reclassified |
Changes in benefit plan items |  |  |  |
Actuarial loss (gain) |  | $ | 623 | (a)
Transition asset and prior service cost (benefit) |  |  | 8 | (a)
Total amortization |  |  | 631 |
Income taxes |  |  | 1 |
Total changes, net of tax |  | $ | 632 |
Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter ended September 27, 2024 is as follows:
|  | Amount Reclassified |
Changes in benefit plan items |  |  |  |
Actuarial loss (gain) |  |  | 285 | (a) |
(a)Transition asset and prior service cost (benefit) |  |  | (53 | ) (a) |
Total amortization |  |  | 232 |
Income taxes |  |  | (11 | )
Total changes, net of tax |  | $ | 221 |
| (a) | These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension benefit cost (gain) (see Note H, "Pension and Other Postretirement Benefit Plans" for further details).

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