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Note E - Business Segments
 3 Months Ended
Sep. 27, 2019
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
E
.
Business Segments
 
The Company and its subsidiaries are engaged in the manufacture and sale of marine and heavy-duty off-highway power transmission equipment. Principal products include marine transmissions, azimuth drives, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches and controls systems. The Company sells to both domestic and foreign customers in a variety of market areas, principally pleasure craft, commercial and military marine markets, as well as in the energy and natural resources, government and industrial markets. The Company's worldwide sales to both domestic and foreign customers are transacted through a direct sales force and a distributor network.
 
The Company has
two
reportable segments: manufacturing and distribution.  Its segment structure reflects the way management makes operating decisions and manages the growth and profitability of the business. It also corresponds with management’s approach of allocating resources and assessing the performance of its segments. The accounting practices of the segments are the same as those described in the summary of significant accounting policies. Transfers among segments are at established inter-company selling prices.  Management evaluates the performance of its segments based on net income.
 
Information about the Company’s segments is summarized as follows:
 
   
For the Quarter Ended
  
   
September 27, 2019
    
September 27, 2018
  
Net sales
                
Manufacturing segment sales
   $
54,561
     $
68,912
  
Distribution segment sales
    
22,428
      
22,920
  
Inter/Intra segment elimination – manufacturing
    
(13,830
 )    
(14,749
 )
Inter/Intra segment elimination – distribution
    
(3,869
 )    
(2,394
 )
    $
59,290
     $
74,689
  
Net (loss) income attributable to Twin Disc
                
Manufacturing segment net (loss) income
   $
(4,855
 )   $
7,235
  
Distribution segment net income
    
1,092
      
865
  
Corporate and eliminations
    
(2,548
 )    
(5,238
 )
    $
(6,311
 )   $
2,862
  
 
Assets
  
September 27, 2019
    
June 30, 2019
  
Manufacturing segment assets
   $
381,994
     $
384,612
  
Distribution segment assets
    
46,729
      
46,076
  
Corporate assets and elimination of intercompany assets
    
(87,262
 )    
(83,818
 )
    $
341,461
     $
346,870
  
 
Disaggregated revenue:
 
The following table presents details deemed most relevant to the users of the financial statements for the quarters ended
September 27, 2019
and
September 28, 2018.
 
Net sales by product group for the quarter ended
September 27, 2019
is summarized as follows:.
 
                   
Elimination of
          
   
Manufacturing
    
Distribution
    
Intercompany Sales
    
Total
  
Industrial
   $
6,808
     $
1,468
     $
(812
 )   $
7,464
  
Land-based transmissions
    
17,414
      
5,480
      
(7,376
 )    
15,518
  
Marine and propulsion systems
    
30,320
      
14,211
      
(9,510
 )    
35,021
  
Other
    
19
      
1,269
      
(1
 )    
1,287
  
Total
   $
54,561
     $
22,428
     $
(17,699
 )   $
59,290
  
 
Net sales by product group for the quarter ended
September 28, 2018
is summarized as follows:
 
                   
Elimination of
          
   
Manufacturing
    
Distribution
    
Intercompany Sales
    
Total
  
Industrial
   $
6,481
     $
1,396
     $
(832
 )   $
7,045
  
Land-based transmissions
    
29,432
      
5,611
      
(5,407
 )    
29,636
  
Marine and propulsion systems
    
32,976
      
14,156
      
(10,857
 )    
36,275
  
Other
    
23
      
1,757
      
(47
 )    
1,733
  
Total
   $
68,912
     $
22,920
     $
(17,143
 )   $
74,689