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Note K - Shareholders' Equity
 3 Months Ended
Sep. 27, 2019
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
K.
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 27, 2019
remain authorized for purchase. The Company did
not
make any open market purchases of its shares during the quarters ended
September 27, 2019
and
September 28, 2018.
 
The following is a reconciliation of the Company’s equity balances for the
first
fiscal quarter of
2020
and
2019:
 
   
 
Twin Disc, Inc. Shareholders’ Equity
  
                   
Accumulated
                          
                   
Other
            
Non-
          
   
Common
    
Retained
    
Comprehensive
    
Treasury
    
Controlling
    
Total
  
   
Stock
    
Earnings
    
Income (Loss)
    
Stock
    
Interest
    
Equity
  
Balance, June 30, 2019
   $
45,047
     $
196,472
     $
(37,971
 )   $
(21,332
 )   $
602
     $
182,818
  
Net (loss) income
    
 
      
(6,311
 )    
 
      
 
      
18
      
(6,293
 )
Translation adjustments
    
 
      
 
      
(3,014
 )    
 
      
18
      
(2,996
 )
Benefit plan adjustments, net of tax
    
 
      
 
      
557
      
 
      
 
      
557
  
Unrealized loss on cash flow hedge, net of tax
    
 
      
 
      
(143
 )    
 
      
 
      
(143
 )
Cash dividends
    
 
      
 
      
 
      
 
      
(127
 )    
(127
 )
Compensation expense
    
459
      
 
      
 
      
 
      
 
      
459
  
Shares (acquired) issued, net
    
(2,324
 )    
 
      
 
      
1,412
      
 
      
(912
 )
Balance, September 27, 2019
   $
43,182
     $
190,161
     $
(40,571
 )   $
(19,920
 )   $
511
     $
173,363
  
 
   
Twin Disc, Inc. Shareholders’ Equity
  
                   
Accumulated
                          
                   
Other
            
Non-
          
   
Common
    
Retained
    
Comprehensive
    
Treasury
    
Controlling
    
Total
  
   
Stock
    
Earnings
    
Income (Loss)
    
Stock
    
Interest
    
Equity
  
Balance, June 30, 2018
   $
11,570
     $
178,896
     $
(23,792
 )   $
(23,677
 )   $
619
     $
143,616
  
Net income
    
 
      
2,862
      
 
      
 
      
41
      
2,903
  
Translation adjustments
    
 
      
 
      
(536
 )    
 
      
(25
 )    
(561
 )
Benefit plan adjustments, net of tax
    
 
      
 
      
471
      
 
      
 
      
471
  
Release stranded tax effects
    
 
      
6,903
      
(6,903
 )    
 
      
 
      
-
  
Cash dividends
    
 
      
 
      
 
      
 
      
(115
 )    
(115
 )
Compensation expense
    
850
      
 
      
 
      
 
      
 
      
850
  
Common stock issued, net
    
32,210
      
 
      
 
      
 
      
 
      
32,210
  
Shares acquired, net
    
(586
 )    
 
      
 
      
(328
 )    
 
      
(914
 )
Balance, September 28, 2018
   $
44,044
     $
188,661
     $
(30,760
 )   $
(24,005
 )   $
520
     $
178,460
  
 
Reconciliations for the changes in accumulated other comprehensive income (loss), net of tax, by component for the quarters ended
September 27, 2019,
and
September 28, 2018
are as follows:
 
   
Translation
    
Benefit Plan
    
Cash Flow
  
   
Adjustment
    
Adjustment
    
Hedges
  
Balance at June 30, 2019
   $
4,439
     $
(41,901
 )   $
(509
 )
Translation adjustment during the quarter
    
(3,014
 )    
-
      
-
  
Other comprehensive loss before reclassifications
    
-
      
-
      
(143
 )
Amounts reclassified from accumulated other comprehensive income
    
-
      
557
      
-
  
Net current period other comprehensive (loss) income
    
(3,014
 )    
557
      
(143
 )
Balance at September 27, 2019
   $
1,425
     $
(41,344
 )   $
(652
 )
 
 
   
Translation
    
Benefit Plan
  
   
Adjustment
    
Adjustment
  
Balance at June 30, 2018
   $
7,085
     $
(30,877
 )
Translation adjustment during the quarter
    
(536
 )    
-
  
Release stranded tax effects
    
-
      
(6,903
 )
Amounts reclassified from accumulated other comprehensive income
    
-
      
471
  
Net current period other comprehensive loss
    
(536
 )    
(6,432
 )
Balance at September 28, 2018
   $
6,549
     $
(37,309
 )
 
Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter ended
September 27, 2019
are as follows:
 
   
Amount Reclassified
  
   
Quarter Ended
  
   
September 27, 2019
  
Changes in benefit plan items
  
 
 
 
Actuarial losses
   $
790
  (a)
Transition asset and prior service benefit
    
(64
) (a)
Total amortization
    
726
 
Income taxes
    
169
 
Total reclassification net of tax
   $
557
 
 
 
Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter ended
September 28, 2018
is as follows:
 
   
Amount Reclassified
  
   
Quarter Ended
  
   
September 28, 2018
  
Changes in benefit plan items
  
 
 
 
Actuarial losses
   $
607
 (a)
Transition asset and prior service benefit
    
10
 (a)
Total amortization
    
617
 
Income taxes
    
146
 
Total reclassification net of tax
   $
471
 
 
 
(a)
These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note G "Pension and Other Postretirement Benefit Plans" for further details).