| Equity [Text Block] |
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 March 28, 2025 remain authorized for purchase. The Company did not make any open market purchases of its shares during the quarters ended March 28, 2025 and March 29, 2024.
The following is a reconciliation of the Company’s equity balances for the quarters ended March 28, 2025 and March 29, 2024:
| |
|
Twin Disc, Inc. Shareholders’ Equity |
|
| |
|
|
|
|
|
|
|
|
|
Accumulated |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
Other |
|
|
|
|
|
|
Non- |
|
|
|
|
|
| |
|
Common |
|
|
Retained |
|
|
Comprehensive |
|
|
Treasury |
|
|
Controlling |
|
|
Total |
|
| |
|
Stock |
|
|
Earnings |
|
|
Loss |
|
|
Stock |
|
|
Interest |
|
|
Equity |
|
| Balance, June 30, 2024 |
|
|
41,798 |
|
|
|
129,592 |
|
|
|
(6,905 |
) |
|
|
(9,783 |
) |
|
|
352 |
|
|
$ |
155,054 |
|
| Net loss |
|
|
|
|
|
|
(2,765 |
) |
|
|
|
|
|
|
|
|
|
|
(7 |
) |
|
|
(2,772 |
) |
| Dividends paid to shareholders |
|
|
|
|
|
|
(570 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(570 |
) |
| Translation adjustments |
|
|
|
|
|
|
|
|
|
|
7,148 |
|
|
|
|
|
|
|
143 |
|
|
|
7,291 |
|
| Benefit plan adjustments, net of tax |
|
|
|
|
|
|
|
|
|
|
221 |
|
|
|
|
|
|
|
|
|
|
|
221 |
|
| Unrealized 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 |
|
|
|
(389 |
) |
|
|
(8,112 |
) |
|
|
488 |
|
|
|
158,146 |
|
| Net income |
|
|
|
|
|
|
919 |
|
|
|
|
|
|
|
|
|
|
|
180 |
|
|
$ |
1,099 |
|
| Dividends paid to shareholders |
|
|
|
|
|
|
(566 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(566 |
) |
| Translation adjustments |
|
|
|
|
|
|
|
|
|
|
(11,311 |
) |
|
|
|
|
|
|
(58 |
) |
|
|
(11,369 |
) |
| Benefit plan adjustments, net of tax |
|
|
|
|
|
|
|
|
|
|
(1,668 |
) |
|
|
|
|
|
|
|
|
|
|
(1,668 |
) |
| Unrealized gain on hedges, net of tax |
|
|
|
|
|
|
|
|
|
|
1,146 |
|
|
|
|
|
|
|
|
|
|
|
1,146 |
|
| Compensation expense |
|
|
853 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
853 |
|
| Stock awards, net |
|
|
(644 |
) |
|
|
|
|
|
|
|
|
|
|
637 |
|
|
|
|
|
|
|
(7 |
) |
| Balance, December 27, 2024 |
|
$ |
40,111 |
|
|
$ |
126,610 |
|
|
$ |
(12,222 |
) |
|
$ |
(7,475 |
) |
|
$ |
610 |
|
|
$ |
147,634 |
|
| Net (loss) income |
|
|
|
|
|
|
(1,472 |
) |
|
|
|
|
|
|
|
|
|
|
50 |
|
|
|
(1,422 |
) |
| Dividends paid to shareholders |
|
|
|
|
|
|
(566 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(566 |
) |
| Translation adjustments |
|
|
|
|
|
|
|
|
|
|
4,120 |
|
|
|
|
|
|
|
32 |
|
|
|
4,152 |
|
| Benefit plan adjustments, net of tax |
|
|
|
|
|
|
|
|
|
|
201 |
|
|
|
|
|
|
|
|
|
|
|
201 |
|
| Unrealized loss on hedges, net of tax |
|
|
|
|
|
|
|
|
|
|
(653 |
) |
|
|
|
|
|
|
|
|
|
|
(653 |
) |
| Compensation expense |
|
|
843 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
843 |
|
| Stock awards, net |
|
|
(27 |
) |
|
|
|
|
|
|
|
|
|
|
27 |
|
|
|
|
|
|
|
(0 |
) |
| Balance, March 28, 2025 |
|
$ |
40,927 |
|
|
$ |
124,572 |
|
|
$ |
(8,554 |
) |
|
$ |
(7,448 |
) |
|
$ |
692 |
|
|
$ |
150,189 |
|
| |
|
Twin Disc, Inc. Shareholders’ Equity |
|
| |
|
|
|
|
|
|
|
|
|
Accumulated |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
Other |
|
|
|
|
|
|
Non- |
|
|
|
|
|
| |
|
Common |
|
|
Retained |
|
|
Comprehensive |
|
|
Treasury |
|
|
Controlling |
|
|
Total |
|
| |
|
Stock |
|
|
Earnings |
|
|
Loss |
|
|
Stock |
|
|
Interest |
|
|
Equity |
|
| Balance, June 30, 2023 |
|
|
42,855 |
|
|
|
120,299 |
|
|
|
(5,570 |
) |
|
|
(12,491 |
) |
|
|
424 |
|
|
$ |
145,517 |
|
| Net (loss) income |
|
|
|
|
|
|
(1,173 |
) |
|
|
|
|
|
|
|
|
|
|
90 |
|
|
|
(1,083 |
) |
| Translation adjustments |
|
|
|
|
|
|
|
|
|
|
(3,096 |
) |
|
|
|
|
|
|
60 |
|
|
|
(3,036 |
) |
| Benefit plan adjustments, net of tax |
|
|
|
|
|
|
|
|
|
|
(171 |
) |
|
|
|
|
|
|
|
|
|
|
(171 |
) |
| Unrealized gain on hedges, net of tax |
|
|
|
|
|
|
|
|
|
|
216 |
|
|
|
|
|
|
|
|
|
|
|
216 |
|
| Compensation expense |
|
|
495 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
495 |
|
| Stock awards, net |
|
|
(3,911 |
) |
|
|
|
|
|
|
|
|
|
|
2,148 |
|
|
|
|
|
|
|
(1,763 |
) |
| Balance, September 29, 2023 |
|
|
39,439 |
|
|
|
119,126 |
|
|
|
(8,621 |
) |
|
|
(10,343 |
) |
|
|
574 |
|
|
|
140,175 |
|
| Net income |
|
|
|
|
|
|
930 |
|
|
|
|
|
|
|
|
|
|
|
5 |
|
|
|
935 |
|
| Dividends paid to shareholders |
|
|
|
|
|
|
(560 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(560 |
) |
| Translation adjustments |
|
|
|
|
|
|
|
|
|
|
5,155 |
|
|
|
|
|
|
|
35 |
|
|
|
5,190 |
|
| Benefit plan adjustments, net of tax |
|
|
|
|
|
|
|
|
|
|
(108 |
) |
|
|
|
|
|
|
|
|
|
|
(108 |
) |
| Unrealized loss on hedges, net of tax |
|
|
|
|
|
|
|
|
|
|
(485 |
) |
|
|
|
|
|
|
|
|
|
|
(485 |
) |
| Compensation expense |
|
|
772 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
772 |
|
| Stock awards, net |
|
|
(550 |
) |
|
|
|
|
|
|
|
|
|
|
541 |
|
|
|
|
|
|
|
(9 |
) |
| Balance, December 27, 2024 |
|
$ |
39,661 |
|
|
$ |
119,496 |
|
|
$ |
(4,059 |
) |
|
$ |
(9,802 |
) |
|
$ |
614 |
|
|
$ |
145,910 |
|
| Net income |
|
|
|
|
|
|
3,822 |
|
|
|
|
|
|
|
|
|
|
|
78 |
|
|
|
3,900 |
|
| Dividends paid to shareholders |
|
|
|
|
|
|
(559 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(559 |
) |
| Translation adjustments |
|
|
|
|
|
|
|
|
|
|
(3,040 |
) |
|
|
|
|
|
|
(44 |
) |
|
|
(3,084 |
) |
| Benefit plan adjustments, net of tax |
|
|
|
|
|
|
|
|
|
|
(191 |
) |
|
|
|
|
|
|
|
|
|
|
(191 |
) |
| Unrealized gain on cash flow hedge, net of tax |
|
|
|
|
|
|
|
|
|
|
196 |
|
|
|
|
|
|
|
|
|
|
|
196 |
|
| Compensation expense |
|
|
791 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
791 |
|
| Stock awards, net |
|
|
(24 |
) |
|
|
|
|
|
|
|
|
|
|
5 |
|
|
|
|
|
|
|
(19 |
) |
| Balance, March 29, 2024 |
|
$ |
40,428 |
|
|
$ |
122,759 |
|
|
$ |
(7,094 |
) |
|
$ |
(9,797 |
) |
|
$ |
648 |
|
|
$ |
146,944 |
|
Reconciliations for the changes in accumulated other comprehensive loss, net of tax, by component for the quarters ended March 28, 2025 and March 29, 2024 are as follows:
| |
|
Translation |
|
|
Benefit Plan |
|
|
Cash Flow |
|
|
Net Investment |
|
| |
|
Adjustment |
|
|
Adjustment |
|
|
Hedges |
|
|
Hedges |
|
| Balance, June 30, 2024 |
|
$ |
(849 |
) |
|
$ |
(8,062 |
) |
|
$ |
504 |
|
|
$ |
1,502 |
|
| Translation adjustment during the quarter |
|
|
7,148 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Amounts reclassified from accumulated other comprehensive loss |
|
|
- |
|
|
|
221 |
|
|
|
(169 |
) |
|
|
(684 |
) |
| Net current period other comprehensive income (loss) |
|
|
7,148 |
|
|
|
221 |
|
|
|
(169 |
) |
|
|
(684 |
) |
| Balance, September 27, 2024 |
|
$ |
6,299 |
|
|
$ |
(7,841 |
) |
|
$ |
335 |
|
|
$ |
818 |
|
| Translation adjustment during the quarter |
|
|
(11,311 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Return on plan assets |
|
|
|
|
|
|
(1,808 |
) |
|
|
|
|
|
|
|
|
| Amounts reclassified from accumulated other comprehensive loss |
|
|
- |
|
|
|
140 |
|
|
|
24 |
|
|
|
1,122 |
|
| Net current period other comprehensive (loss) income |
|
|
(11,311 |
) |
|
|
(1,668 |
) |
|
|
24 |
|
|
|
1,122 |
|
| Balance, December 27, 2024 |
|
$ |
(5,012 |
) |
|
$ |
(9,509 |
) |
|
$ |
359 |
|
|
$ |
1,940 |
|
| Translation adjustment during the quarter |
|
|
4,120 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Amounts reclassified from accumulated other comprehensive loss |
|
|
- |
|
|
|
201 |
|
|
|
(45 |
) |
|
|
(608 |
) |
| Net current period other comprehensive income (loss) |
|
|
4,120 |
|
|
|
201 |
|
|
|
(45 |
) |
|
|
(608 |
) |
| Balance, March 28, 2025 |
|
$ |
(892 |
) |
|
$ |
(9,308 |
) |
|
$ |
314 |
|
|
$ |
1,332 |
|
| |
|
Translation |
|
|
Benefit Plan |
|
|
Cash Flow |
|
|
Net Investment |
|
| |
|
Adjustment |
|
|
Adjustment |
|
|
Hedges |
|
|
Hedges |
|
| Balance, June 30, 2023 |
|
$ |
(1,582 |
) |
|
$ |
(5,948 |
) |
|
$ |
688 |
|
|
$ |
1,272 |
|
| Translation adjustment during the quarter |
|
|
(3,096 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Amounts reclassified from accumulated other comprehensive loss |
|
|
- |
|
|
|
(171 |
) |
|
|
(6 |
) |
|
|
222 |
|
| Net current period other comprehensive (loss) income |
|
|
(3,096 |
) |
|
|
(171 |
) |
|
|
(6 |
) |
|
|
222 |
|
| Balance, September 29, 2023 |
|
$ |
(4,678 |
) |
|
$ |
(6,119 |
) |
|
$ |
682 |
|
|
$ |
1,494 |
|
| Translation adjustment during the quarter |
|
|
5,155 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Amounts reclassified from accumulated other comprehensive loss |
|
|
- |
|
|
|
(108 |
) |
|
|
(183 |
) |
|
|
(302 |
) |
| Net current period other comprehensive income (loss) |
|
|
5,155 |
|
|
|
(108 |
) |
|
|
(183 |
) |
|
|
(302 |
) |
| Balance, December 27, 2024 |
|
$ |
477 |
|
|
$ |
(6,227 |
) |
|
$ |
499 |
|
|
$ |
1,192 |
|
| Translation adjustment during the quarter |
|
|
(3,040 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Amounts reclassified from accumulated other comprehensive loss |
|
|
- |
|
|
|
(191 |
) |
|
|
40 |
|
|
|
156 |
|
| Net current period other comprehensive (loss) income |
|
|
(3,040 |
) |
|
|
(191 |
) |
|
|
40 |
|
|
|
156 |
|
| Balance, March 29, 2024 |
|
$ |
(2,563 |
) |
|
$ |
(6,418 |
) |
|
$ |
539 |
|
|
$ |
1,348 |
|
Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter ended March 28, 2025 are as follows:
| |
|
Quarter Ended |
|
|
|
Three Quarters Ended |
|
|
| |
|
March 28, 2025 |
|
|
|
March 28, 2025 |
|
|
| Changes in benefit plan items |
|
|
|
|
|
|
|
|
|
|
| Actuarial losses |
|
$ |
191 |
|
(a) |
|
$ |
517 |
|
(a) |
| Transition asset and prior service benefit |
|
|
15 |
|
(a) |
|
|
48 |
|
(a) |
| Return on plan assets |
|
|
- |
|
|
|
|
(1,808 |
) |
|
| Total amortization |
|
|
206 |
|
|
|
|
(1,243 |
) |
|
| Income taxes |
|
|
(5 |
) |
|
|
|
(3 |
) |
|
| Total reclassification, net of tax |
|
$ |
201 |
|
|
|
$ |
(1,246 |
) |
|
Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter ended March 29, 2024 is as follows:
| |
|
Quarter Ended |
|
|
|
Three Quarters Ended |
|
|
| |
|
March 29, 2024 |
|
|
|
March 29, 2024 |
|
|
| Changes in benefit plan items |
|
|
|
|
|
|
|
|
|
|
| Actuarial losses |
|
$ |
(198 |
) |
(a) |
|
$ |
(461 |
) |
(a) |
| Transition asset and prior service benefit |
|
|
(3 |
) |
(a) |
|
|
(11 |
) |
(a) |
| Total amortization |
|
|
(201 |
) |
|
|
|
(472 |
) |
|
| Income taxes |
|
|
10 |
|
|
|
|
2 |
|
|
| Total reclassification, net of tax |
|
$ |
(191 |
) |
|
|
$ |
(470 |
) |
|
| |
(a) |
These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (see Note H, "Pension and Other Postretirement Benefit Plans" for further details). |
|