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Shareholders' Equity
 6 Months Ended
Dec. 27, 2013
Shareholders' Equity [Abstract]  
Shareholders' Equity
K.
Shareholders’ Equity

On February 1, 2008, the Board of Directors authorized the purchase of 500,000 shares of Common Stock at market values.  On July 27, 2012, the Board of Directors authorized the purchase of an additional 375,000 shares of Common Stock at market values.  These authorizations have no expiration.  The Company made open market purchases of 125,000 shares of its outstanding Common Stock during fiscal 2012 and 185,000 shares during fiscal 2013.

The following is a reconciliation of the Company’s equity balances for the first fiscal six months of 2013 and 2014 (in thousands):
 
 
 
 
Twin Disc, Inc. Shareholders’ Equity
  
  
 
 
 
  
  
Accumulated
  
  
  
 
 
 
  
  
Other
  
  
Non-
  
 
 
 
Common
  
Retained
  
Comprehensive
  
Treasury
  
Controlling
  
Total
 
 
 
Stock
  
Earnings
  
Income (Loss)
  
Stock
  
Interest
  
Equity
 
Balance –June 30, 2012
 
$
12,759
  
$
184,306
  
$ 
(34,797
)
 
$ 
(26,781
)
 
$
1,022
  
$
136,509
 
 
                        
Net income
      
4,591
           
94
   
4,685
 
Translation adjustments
          
3,334
       
60
   
3,394
 
Benefit plan adjustments, net of tax
          
1,320
           
1,320
 
Cash dividends
      
(2,055
)
          
(204
)
  
(2,259
)
Compensation expense and
                        
windfall tax benefits
  
2,079
                   
2,079
 
Shares (acquired) issued, net
  
(2,937
)
          
(1,642
)
      
(4,579
)
Balance-December 28, 2012
 
$
11,901
  
$
186,842
  
$ 
(30,143
)
 
$ 
(28,423
)
 
$
972
  
$
141,149
 
 
                        
 
 
Twin Disc, Inc. Shareholders’ Equity
         
 
         
Accumulated
             
 
         
Other
      
Non-
     
 
 
Common
  
Retained
  
Comprehensive
  
Treasury
  
Controlling
  
Total
 
 
 
Stock
  
Earnings
  
Income (Loss)
  
Stock
  
Interest
  
Equity
 
Balance-June 30, 2013
 
$
13,183
  
$
184,110
  
$ 
(25,899
)
 
$ 
(28,890
)
 
$
1,058
  
$
143,562
 
Net income
      
1,795
           
135
   
1,930
 
Translation adjustments
          
3,039
       
(40
)
  
2,999
 
Benefit plan adjustments, net of tax
          
978
           
978
 
Cash dividends
      
(2,031
)
          
(486
)
  
(2,517
)
Compensation expense and
                        
windfall tax benefits
  
1,150
                   
1,150
 
Shares (acquired) issued, net
  
(2,965
)
          
795
       
(2,170
)
Balance-December 27, 2013
 
$
11,368
  
$
183,874
  
$ 
(21,882
)
 
$ 
(28,095
)
 
$
667
  
$
145,932