Basis of Presentation (Tables)

9 Months Ended

Mar. 29, 2013

Basis of Presentation [Abstract]

Impact of Revisions on the Condensed Consolidated Statements of Cash Flows

The impacts of these revisions are shown in the following tables (in '000's):

	As of and for the period ended June 30, 2011							As of and for the period ended September 30, 2011
	Reported		Adjustment			Revised		Reported			Adjustment			Revised
Revised consolidated balance sheet amounts
Accrued liabilities		41,673		700			42,373		38,301			608			38,909
Total current liabilities		83,960		700			84,660		77,165			608			77,773
Other long term liabilities		7,089		708			7,797		4,363			725			5,088
Total liabilities		171,066		1,408			172,474		170,619			1,333			171,952
Retained earnings		162,857		(1,408	)		161,449		171,524			(1,333	)		170,191
Total equity		138,054		(1,408	)		136,646		145,811			(1,333	)		144,478
Revised consolidated statement of comprehensive income (loss) amounts
Year to date
Income taxes		13,064		833			13,897		5,259			(75	)		5,184
Net earnings		18,965		(833	)		18,132		9,635			75			9,710
Net earnings attributable to Twin Disc		18,830		(833	)		17,997		9,581			75			9,656
Basic earnings per share		1.66		(0.07	)		1.59		0.84			0.01			0.85
Diluted earnings per share		1.64		(0.07	)		1.57		0.83			0.01			0.84
Comprehensive income (loss)		49,743		(833	)		48,910		7,834			75			7,909
Comprehensive income (loss) attributable to Twin Disc		49,608		(833	)		48,775		7,780			75			7,855
Revised consolidated statement of cash flows amounts
Net earnings		18,965		(833	)		18,132		9,635			75			9,710
Net change in working capital, excluding cash and debt, and other									(16,354	)		(75	)		(16,429	)
Accrued liabilities		6,713		833			7,546
Other non-cash changes, net									2,950			(445	)		2,505
Net cash used by operating activities									(1,196	)		(445	)		(1,641	)
Excess tax benefits from stock comp									-			445			445
Net cash provided by financing activities									10,051			445			10,496

	As of and for the period ended December 30, 2011									As of and for the period ended March 30, 2012
	Reported			Adjustment			Revised			Reported			Adjustment			Revised
Revised consolidated balance sheet amounts
Accrued liabilities		38,056			608			38,664
Total current liabilities		77,872			608			78,480
Other long term liabilities		4,845			742			5,587			4,478			759			5,237
Total liabilities		170,822			1,350			172,172			168,130			759			168,889
Retained earnings		176,467			(1,350	)		175,117			184,831			(759	)		184,072
Total equity		145,586			(1,350	)		144,236			157,231			(759	)		156,472
Revised consolidated statement of comprehensive income (loss) amounts
Year to date
Income taxes		8,627			(58	)		8,569			14,039			(649	)		13,390
Net earnings		15,501			58			15,559			24,939			649			25,588
Net earnings attributable to Twin Disc		15,438			58			15,496			24,831			649			25,480
Basic earnings per share		1.35			0.01			1.36			2.18			0.05			2.23
Diluted earnings per share		1.34			-			1.34			2.15			0.05			2.20
Comprehensive income (loss)		7,853			58			7,911			19,950			649			20,599
Comprehensive income (loss) attributable to Twin Disc		7,790			58			7,848			19,842			649			20,491
Quarter
Income taxes		3,368			17			3,385			5,412			(591	)		4,821
Net earnings		5,866			(17	)		5,849			9,438			591			10,029
Near earnings attributable to Twin Disc		5,857			(17	)		5,840			9,393			591			9,984
Basic earnings per share		0.51			-			0.51			0.82			0.05			0.87
Diluted earnings per share		0.51			(0.01	)		0.50			0.81			0.05			0.86
Comprehensive income (loss)		19			(17	)		2			12,097			591			12,688
Comprehensive income (loss) attributable to Twin Disc		10			(17	)		(7	)		12,052			591			12,643
Revised consolidated statement of cash flows amounts
Net earnings		15,501			58			15,559			24,939			649			25,588
Net change in working capital, excluding cash and debt, and other		(28,157	)		(58	)		(28,215	)		(41,315	)		(649	)		(41,964	)
Accrued liabilities
Other non-cash changes, net		4,291			(535	)		3,756
Net cash used by operating activities		(3,054	)		(535	)		(3,589	)
Excess tax benefits from stock comp		-			535			535
Net cash provided by financing activities		10,096			535			10,631

	As of and for the period ended June 30, 2012									As of and for the period ended September 28, 2012
	Reported			Adjustment			Revised			Reported			Adjustment			Revised
Revised consolidated balance sheet amounts
Other long term liabilities		4,171			777			4,948			2,200			797			2,997
Total liabilities		166,546			777			167,323			160,512			797			161,309
Retained earnings		185,083			(777	)		184,306			185,308			(797	)		184,511
Total equity		137,286			(777	)		136,509			139,587			(797	)		138,790
Revised consolidated statement of comprehensive income (loss) amounts
Year to date
Income taxes		18,446			(631	)		17,815			1,077			20			1,097
Net earnings		26,310			631			26,941			1,286			(20	)		1,266
Net earnings attributable to Twin Disc		26,112			631			26,743			1,251			(20	)		1,231
Basic earnings per share		2.29			0.05			2.34			0.11			-			0.11
Diluted earnings per share		2.26			0.05			2.31			0.11			-			0.11
Comprehensive income (loss)		2,882			631			3,513			3,218			20			3,238
Comprehensive income (loss) attributable to Twin Disc		2,684			631			3,315			3,183			20			3,203
Quarter
Income taxes		4,407			18			4,425			1,077			20			1,097
Net earnings		1,371			(18	)		1,353			1,286			(20	)		1,266
Net earnings attributable to Twin Disc		1,281			(18	)		1,263			1,251			(20	)		1,231
Basic earnings per share		0.11			-			0.11			0.11			-			0.11
Diluted earnings per share		0.11			-			0.11			0.11			-			0.11
Comprehensive income (loss)		(17,068	)		(18	)		(17,086	)		3,218			20			3,238
Comprehensive income (loss) attributable to Twin Disc		(17,158	)		(18	)		(17,176	)		3,183			20			3,203
Revised consolidated statement of cash flows amounts
Net earnings		26,310			631			26,941			1,286			(20	)		1,266
Net change in working capital, excluding cash and debt, and other											(4,059	)		20			(4,039	)
Accrued liabilities		(2,273	)		(631	)		(2,904	)