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Note L - Shareholders' Equity
 3 Months Ended
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).