Twin Disc (TWIN) 10-Q 4 May 21 2021 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Mar. 26, 2021	Apr. 28, 2021
Document Information [Line Items]
Entity Central Index Key	0000100378
Entity Registrant Name	TWIN DISC INC
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 26, 2021
Document Transition Report	false
Entity File Number	1-7635
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-0667110
Entity Address, Address Line One	1328 Racine Street,
Entity Address, City or Town	Racine
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53403
City Area Code	262
Local Phone Number	638-4000
Title of 12(b) Security	Common Stock (No Par Value)
Trading Symbol	TWIN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,647,116

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 26, 2021	Jun. 30, 2020
Current assets:
Cash	$ 11,594	$ 10,688
Trade accounts receivable, net	31,309	30,682
Inventories	116,693	120,607
Prepaid expenses	5,478	5,269
Other	7,781	6,739
Total current assets	172,855	173,985
Property, plant and equipment, net	75,607	72,732
Intangible assets, net	17,420	18,973
Deferred income taxes	29,261	24,445
Other assets	3,340	3,992
Total assets	298,483	294,127
Current liabilities:
Current maturities of long-term debt	2,000	4,691
Accounts payable	25,756	25,663
Accrued liabilities	41,123	36,380
Total current liabilities	68,879	66,734
Long-term debt	39,226	37,896
Lease obligations	17,352	13,495
Accrued retirement benefits	24,977	27,938
Deferred income taxes	5,217	5,501
Other long-term liabilities	1,979	2,605
Total liabilities	157,630	154,169
Commitments and contingencies (Note D)
Twin Disc shareholders' equity:
Preferred shares authorized: 200,000; issued: none; no par value	0	0
Common shares authorized: 30,000,000; issued: 14,632,802; no par value	40,446	42,756
Retained earnings	148,457	156,655
Accumulated other comprehensive loss	(33,646)	(41,226)
Equity before treasury stock	155,257	158,185
Less treasury stock, at cost (985,686 and 1,226,809 shares, respectively)	15,106	18,796
Total Twin Disc shareholders' equity	140,151	139,389
Noncontrolling interest	702	569
Total equity	140,853	139,958
Total liabilities and equity	$ 298,483	$ 294,127

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands	Mar. 26, 2021	Jun. 30, 2020
Preferred Shares, Authorized (in shares)	200,000	200,000
Preferred Shares, Issued (in shares)	0	0
Preferred Shares, No Par Value (in dollars per share)	$ 0	$ 0
Common shares, authorized (in shares)	30,000,000	30,000,000
Common shares, shares issued (in shares)	14,632,802	14,632,802
Common shares, no par value (in dollars per share)	$ 0	$ 0
Treasury Stock, Shares (in shares)	985,686	1,226,809

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Net Sales	$ 57,640	$ 68,636	$ 152,377	$ 187,462
Cost of goods sold	43,678	52,087	119,835	145,566
Gross profit	13,962	16,549	32,542	41,896
Marketing, engineering and administrative expenses	13,196	15,349	39,000	48,106
Restructuring expenses	251	532	777	4,902
Goodwill and other impairment charge	0	27,603	0	27,603
Income (loss) from operations	515	(26,935)	(7,235)	(38,715)
Interest expense	606	488	1,769	1,324
Other expense (income), net	(557)	898	2,314	1,618
Non-operating income (expense)	49	1,386	4,083	2,942
Income (loss) before income taxes and noncontrolling interest	466	(28,321)	(11,318)	(41,657)
Income tax expense (benefit)	300	(3,145)	(3,267)	(3,722)
Net income (loss)	166	(25,176)	(8,051)	(37,935)
Less: Net earnings attributable to noncontrolling interest, net of tax	(72)	(54)	(147)	(122)
Net income (loss) attributable to Twin Disc	$ 94	$ (25,230)	$ (8,198)	$ (38,057)
Income (loss) per share data:
Basic income (loss) per share attributable to Twin Disc common shareholders (in dollars per share)	$ 0.01	$ (1.92)	$ (0.62)	$ (2.89)
Diluted income (loss) per share attributable to Twin Disc common shareholders (in dollars per share)	$ 0.01	$ (1.92)	$ (0.62)	$ (2.89)
Weighted average shares outstanding data:
Basic shares outstanding (in shares)	13,269	13,175	13,240	13,147
Diluted shares outstanding (in shares)	13,295	13,175	13,240	13,147
Comprehensive loss
Net income (loss)	$ 166	$ (25,176)	$ (8,051)	$ (37,935)
Benefit plan adjustments, net of income taxes of $177, $490, $529 and $828, respectively	583	1,593	1,691	2,698
Foreign currency translation adjustment	(3,008)	(1,266)	5,503	(2,615)
Unrealized gain (loss) on cash flow hedge, net of income taxes of $60, $178, $115 and $177, respectively	193	(582)	372	(579)
Comprehensive loss	(2,066)	(25,431)	(485)	(38,431)
Less: Comprehensive income attributable to noncontrolling interest	(34)	(46)	(133)	(132)
Comprehensive loss attributable to Twin Disc	$ (2,100)	$ (25,477)	$ (618)	$ (38,563)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Income Loss (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Benefit plan adjustments, income taxes	$ 177	$ 490	$ 529	$ 828
Unrealized loss on cash flow hedge, income taxes	$ 60	$ 178	$ 115	$ 177

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 26, 2021	Mar. 27, 2020
Cash flows from operating activities:
Net loss	$ (8,051)	$ (37,935)
Adjustments to reconcile net loss to net cash provided by operating activities, net of acquired assets:
Depreciation and amortization	8,366	8,917
Restructuring expenses	215	2,556
Goodwill and other impairment charge	0	27,603
Provision for deferred income taxes	(6,052)	(6,225)
Stock compensation expense and other non-cash changes, net	1,934	859
Net change in operating assets and liabilities	8,603	9,556
Net cash provided by operating activities	5,015	5,331
Cash flows from investing activities:
Acquisitions of fixed assets	(3,851)	(9,155)
Proceeds from sale of fixed assets	76	109
Proceeds on note receivable	700	0
Other, net	(18)	(27)
Net cash used by investing activities	(3,093)	(9,073)
Cash flows from financing activities:
Borrowings under revolving loan arrangement	56,463	78,597
Repayments of revolver loans	(58,497)	(76,805)
Repayments of other long term debt	(411)	(1,164)
Payments of withholding taxes on stock compensation	(224)	(913)
Dividends paid to noncontrolling interest	0	(127)
Net cash used by financing activities	(2,669)	(412)
Effect of exchange rate changes on cash	1,653	226
Net change in cash	906	(3,928)
Cash:
Beginning of period	10,688	12,362
End of period	$ 11,594	$ 8,434

Note A - Basis of Presentation

Note A - Basis of Presentation	9 Months Ended
	Mar. 26, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	A. Basis of Presentation The unaudited condensed consolidated financial statements have been prepared by Twin Disc, Incorporated (the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, in the opinion of the Company, include adjustments, consisting primarily of normal recurring items, necessary for a fair statement of results for each period. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such SEC rules and regulations. The Company believes that the disclosures made are adequate to make the information presented not 10 June 30, 2020. not Recently Adopted Accounting Standards In August 2018, 2018 13 820, July 1, 2020. not In August 2018, 2018 14 July 1, 2020. not New Accounting Releases In June 2016, 2016 13 2018 19, 2019 04, 2019 05 2019 10 326 326 December 15, 2019, December 15, 2022 ( 2024 326 In December 2019, 2019 12 December 15, 2020 ( 2022 In March 2020 January 2021, 2020 04 2021 01, March 12, 2020, may December 31, 2022. Special Note Regarding Smaller Reporting Company Status Under SEC Release 33 10513; 34 83550,

Note B - Inventories

Note B - Inventories	9 Months Ended
	Mar. 26, 2021
Notes to Financial Statements
Inventory Disclosure [Text Block]	B. Inventories The major classes of inventories were as follows: March 26, 2021 June 30, 2020 Inventories: Finished parts $ 60,040 $ 62,394 Work in process 19,001 17,844 Raw materials 37,652 40,369 $ 116,693 $ 120,607

Note C - Warranty

Note C - Warranty	9 Months Ended
	Mar. 26, 2021
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	C. Warranty The Company engages in extensive product quality programs and processes, including actively monitoring and evaluating the quality of its suppliers. However, its warranty obligation is affected by product failure rates, the number of units affected by the failure and the expense involved in satisfactorily addressing the situation. The warranty reserve is established based on our best estimate of the amounts necessary to settle future and existing claims on products sold as of the balance sheet date. When evaluating the adequacy of the reserve for warranty costs, management takes into consideration the term of the warranty coverage, historical claim rates and costs of repair, knowledge of the type and volume of new products and economic trends. While we believe the warranty reserve is adequate and that the judgment applied is appropriate, such amounts estimated to be due and payable in the future could differ materially from what actually transpires. The following is a listing of the activity in the warranty reserve for the quarters and three March 26, 2021 March 27, 2020: For the Quarter Ended For the Three Quarters Ended March 26, 2021 March 27, 2020 March 26, 2021 March 27, 2020 Reserve balance, beginning of period $ 4,474 $ 5,775 $ 4,460 $ 3,736 Current period expense and adjustments 805 3,127 2,550 9,255 Payments or credits to customers (995 ) (2,973 ) (2,814 ) (7,039 ) Translation (28 ) (9 ) 60 (32 ) Reserve balance, end of period $ 4,256 $ 5,920 $ 4,256 $ 5,920 Included in expense in the three March 26, 2021 March 27, 2020 The current portion of the warranty accrual ($3,314 and $5,053 as of March 26, 2021 March 27, 2020, March 26, 2021 March 27, 2020,

Note D - Contingencies

Note D - Contingencies	9 Months Ended
	Mar. 26, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	D. Contingencies The Company is involved in litigation of which the ultimate outcome and liability to the Company, if any, is not not

Note E - Business Segments

Note E - Business Segments	9 Months Ended
	Mar. 26, 2021
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 Information about the Company’s segments is summarized as follows: For the Quarter Ended For the Three Quarters Ended March 26, 2021 March 27, 2020 March 26, 2021 March 27, 2020 Net sales Manufacturing segment sales $ 52,138 $ 58,877 $ 132,338 $ 170,611 Distribution segment sales 26,221 28,387 71,950 72,839 Inter/Intra segment elimination – manufacturing (15,074 ) (13,993 ) (37,892 ) (42,928 ) Inter/Intra segment elimination – distribution (5,645 ) (4,635 ) (14,019 ) (13,060 ) $ 57,640 $ 68,636 $ 152,377 $ 187,462 Net income (loss) attributable to Twin Disc Manufacturing segment net income (loss) $ 2,422 $ (26,859 ) $ (3,352 ) $ (34,650 ) Distribution segment net income 697 991 2,352 2,925 Corporate and eliminations (3,025 ) 638 (7,198 ) (6,332 ) $ 94 $ (25,230 ) $ (8,198 ) $ (38,057 ) March 26, 2021 June 30, 2020 Assets Manufacturing segment assets $ 366,594 $ 365,417 Distribution segment assets 48,121 43,118 Corporate assets and elimination of intercompany assets (116,232 ) (114,408 ) $ 298,483 $ 294,127 Disaggregated revenue: The following table presents details deemed most relevant to the users of the financial statements for the quarters and three March 26, 2021 March 27, 2020. Net sales by product group for the quarter ended March 26, 2021 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 5,652 $ 1,491 $ (1,307 ) $ 5,836 Land-based transmissions 13,793 6,892 (5,419 ) 15,266 Marine and propulsion systems 32,671 15,016 (13,951 ) 33,736 Other 22 2,822 (42 ) 2,802 Total $ 52,138 $ 26,221 $ (20,719 ) $ 57,640 Net sales by product group for the quarter ended March 27, 2020 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 5,709 $ 1,760 $ (619 ) $ 6,850 Land-based transmissions 15,185 9,051 (6,599 ) 17,637 Marine and propulsion systems 37,968 15,817 (11,409 ) 42,376 Other 15 1,759 (1 ) 1,773 Total $ 58,877 $ 28,387 $ (18,628 ) $ 68,636 Net sales by product group for the three March 26, 2021 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 15,744 $ 4,168 $ (3,369 ) $ 16,543 Land-based transmissions 34,388 19,267 (14,388 ) 39,267 Marine and propulsion systems 82,152 41,996 (34,095 ) 90,053 Other 54 6,519 (59 ) 6,514 Total $ 132,338 $ 71,950 $ (51,911 ) $ 152,377 Net sales by product group for the three March 27, 2020 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 18,409 $ 4,712 $ (2,183 ) $ 20,938 Land-based transmissions 49,159 20,769 (21,466 ) 48,462 Marine and propulsion systems 102,988 43,445 (32,337 ) 114,096 Other 55 3,913 (2 ) 3,966 Total $ 170,611 $ 72,839 $ (55,988 ) $ 187,462

Note F - Stock-based Compensati

Note F - Stock-based Compensation	9 Months Ended
	Mar. 26, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	F. Stock-Based Compensation Performance Stock Awards ( PSA ) During the first three 2021 2020, 2021 three June 30, 2023. The fiscal 2020 three June 30, 2022. not There were 433.1 and 214.0 unvested PSAs outstanding at March 26, 2021 March 27, 2020, March 26, 2021 March 27, 2020, three March 26, 2021 March 27, 2020, March 26, 2021 March 26, 2021, 2021, 2020 2019 March 26, 2021 March 27, 2020 Restricted Stock Awards ( RS ) The Company has unvested RS awards outstanding that will vest if certain service conditions are fulfilled. The fair value of the RS grants is recorded as compensation expense over the vesting period, which is generally 1 to 3 years. During the first three 2021 2020, March 26, 2021 March 27, 2020, three March 26, 2021 March 27, 2020, March 26, 2021 March 27, 2020, three March 26, 2021 March 27, 2020, March 26, 2021 March 27, 2020 March 26, 2021, three Restricted Stock Unit Awards ( RSU ) Under the 2018 three March 26, 2021 March 27, 2020, March 26, 2021 March 27, 2020, three March 26, 2021 March 27, 2020, March 26, 2021 March 27, 2020 March 26, 2021 March 26, 2021, two

Note G - Pension and Other Post

Note G - Pension and Other Postretirement Benefit Plans	9 Months Ended
	Mar. 26, 2021
Notes to Financial Statements
Retirement Benefits [Text Block]	G. Pension and Other Postretirement Benefit Plans The Company has non-contributory, qualified defined benefit plans covering substantially all domestic employees hired prior to October 1, 2003 For the Quarter Ended For the Three Quarters Ended March 26, 2021 March 27, 2020 March 26, 2021 March 27, 2020 Pension Benefits: Service cost $ 144 $ 205 $ 432 $ 612 Prior service cost 16 - 48 - Interest cost 715 909 2,072 2,703 Expected return on plan assets (1,133 ) (1,245 ) (3,400 ) (3,733 ) Amortization of transition obligation 9 9 28 26 Amortization of prior service cost (4 ) (4 ) (12 ) (11 ) Amortization of actuarial net loss 811 673 2,434 2,241 Net periodic benefit cost $ 558 $ 547 $ 1,602 $ 1,838 Postretirement Benefits: Service cost $ 4 $ 4 $ 12 $ 13 Interest cost 39 55 116 164 Amortization of prior service cost (69 ) (69 ) (206 ) (206 ) Net periodic benefit gain $ (26 ) $ (10 ) $ (78 ) $ (29 ) The service cost component is included in cost of goods sold and marketing, engineering and administrative expenses. All other components of net periodic benefit cost are included in other expense (income), net. The Company expects to contribute approximately $2,346 to its pension plans in fiscal 2021. March 26, 2021, The Company has reclassified $583 (net of $177 in taxes) of benefit plan adjustments from accumulated other comprehensive loss during the quarter ended March 26, 2021, March 27, 2020. three March 26, 2021, three March 27, 2020.

Note H - Income Taxes

Note H - Income Taxes	9 Months Ended
	Mar. 26, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	H. Income Taxes For the three March 26, 2021 March 27, 2020, no The spread of the COVID- 19 March 2020) March 27, 2020 2017. 19 19 The Consolidated Appropriations Act (“CAA”) of 2021 December 27, 2020. third 2021. not March 11, 2021, 2021 December 31, 2026, five not 162 The Company maintains valuation allowances when it is more likely than not not no Accounting policies for interim reporting require the Company to adjust its effective tax rate each quarter to be consistent with the estimated annual effective tax rate. Under this effective tax rate methodology, the Company applies an estimated annual income tax rate to its year-to-date ordinary earnings to derive its income tax provision each quarter. The Company has approximately $926 of unrecognized tax benefits, including related interest and penalties, as of March 26, 2021, no March 26, 2021. twelve Annually, the Company files income tax returns in various taxing jurisdictions inside and outside the United States. In general, the tax years that remain subject to examination in foreign jurisdictions are 2014 2020. 2019. 2016. 2021.

Note I - Intangible Assets

Note I - Intangible Assets	9 Months Ended
	Mar. 26, 2021
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	I. Intangible Assets As of March 26, 2021, Net Book Value Rollforward Net Book Value By Asset Type Gross Carrying Amount Accumulated Amortization / Impairment Net Book Value Customer Relationships Technology Know-how Trade Name Other Balance at June 30, 2020 $ 39,245 $ (20,272 ) $ 18,973 $ 11,554 $ 5,784 $ 1,388 $ 247 Addition 2 - 2 - - - 2 Amortization - (2,516 ) (2,516 ) (1,406 ) (917 ) (137 ) (56 ) Translation adjustment 961 - 961 585 294 70 12 Balance at March 26, 2021 $ 40,208 $ (22,788 ) $ 17,420 $ 10,733 $ 5,161 $ 1,321 $ 205 Other intangibles consist mainly of computer software. Amortization is recorded on the basis of straight-line or accelerated, as appropriate, over the estimated useful lives of the assets. The weighted average remaining useful life of the intangible assets included in the table above is approximately 8 years. Intangible amortization expense was $838 and $1,148 for the quarters ended March 26, 2021, March 27, 2020, three March 26, 2021, March 27, 2020, 2021 five Fiscal Year 2021 $ 821 2022 3,136 2023 2,964 2024 2,814 2025 2,626 2026 1,282

Note J - Long-term Debt

Note J - Long-term Debt	9 Months Ended
	Mar. 26, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	J. Long-term Debt Long-term debt at March 26, 2021 June 30, 2020 March 26, 2021 June 30, 2020 Credit Agreement Debt Revolving loans (expire June 2023) $ 15,335 $ 16,641 Term loan (due March 2026) 17,500 17,500 PPP loan 8,200 8,200 Other 191 246 Subtotal 41,226 42,587 Less: current maturities (2,000 ) (4,691 ) Total long-term debt $ 39,226 $ 37,896 Credit Agreement Debt: June 29, 2018 ( On January 27, 2021, September 30, 2021. December 31, 2021, 1.00. For the quarter ended March 26, 2021, not The Company remains in compliance with its liquidity and other covenants, and has agreed to provide additional financial reports to BMO. The Credit Agreement, including its amendments, is more fully described in the Company’s Annual Report filed on Form 10 June 30, 2020, 2 As of March 26, 2021, The PPP Loan: April 17, 2020, 19 two 1.0% April 2022. In accounting for the terms of the PPP Loan, the Company is guided by ASC 470 450 30 $8,200 not The PPP Loan is more fully described in the Company’s Annual Report filed on Form 10 June 30, 2020, 2 Other: three five During the three March 26, 2021, As of March 26, 2021, The Company’s borrowings described above approximate fair value at March 26, 2021 June 30, 2020. 2 The Company is party to an interest rate swap arrangement with Bank of Montreal, with an initial notional amount of $20,000 and a maturity date of March 4, 2026 March 26, 2021, 815,

Note K - Shareholders' Equity

Note K - Shareholders' Equity	9 Months Ended
	Mar. 26, 2021
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 March 26, 2021 not March 26, 2021 March 27, 2020. The following is a reconciliation of the Company’s equity balances for the first three 2021 2020: Twin Disc, Inc. Shareholders’ Equity Accumulated Other Non- Common Retained Comprehensive Treasury Controlling Total Stock Earnings Income (Loss) Stock Interest Equity Balance, June 30, 2020 $ 42,756 $ 156,655 $ (41,226 ) $ (18,796 ) $ 569 $ 139,958 Net (loss) income (3,979 ) 42 (3,937 ) Translation adjustments 3,600 12 3,612 Benefit plan adjustments, net of tax 553 553 Unrealized gain on cash flow hedge, net of tax 75 75 Compensation expense 518 518 Shares (acquired) issued, net (2,460 ) 2,236 (224 ) Balance, September 25, 2020 40,814 152,676 (36,998 ) (16,560 ) 623 140,555 Net (loss) income (4,313 ) 33 (4,280 ) Translation adjustments 4,887 12 4,899 Benefit plan adjustments, net of tax 555 555 Unrealized gain on cash flow hedge, net of tax 104 104 Compensation expense 562 562 Shares (acquired) issued, net (1,458 ) 1,458 - Balance, December 25, 2020 39,918 148,363 (31,452 ) (15,102 ) 668 142,395 Net income 94 72 166 Translation adjustments (2,970 ) (38 ) (3,008 ) Benefit plan adjustments, net of tax 583 583 Unrealized gain on cash flow hedge, net of tax 193 193 Compensation expense 524 524 Shares issued (acquired), net 4 (4 ) - Balance, March 26, 2021 $ 40,446 $ 148,457 $ (33,646 ) $ (15,106 ) $ 702 $ 140,853 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 Net (loss) income (6,516 ) 50 (6,466 ) Translation adjustments 1,647 - 1,647 Benefit plan adjustments, net of tax 548 548 Unrealized gain on cash flow hedge, net of tax 146 146 Compensation expense 248 248 Shares (acquired) issued, net (1,125 ) 1,124 (1 ) Balance, December 27, 2019 42,305 183,645 (38,230 ) (18,796 ) 561 169,485 Net (loss) income (25,230 ) 54 (25,176 ) Translation adjustments (1,257 ) (9 ) (1,266 ) Benefit plan adjustments, net of tax 1,593 1,593 Unrealized loss on cash flow hedge, net of tax (582 ) (582 ) Compensation expense (19 ) (19 ) Balance, March 27, 2020 $ 42,286 $ 158,415 $ (38,476 ) $ (18,796 ) $ 606 $ 144,035 Reconciliations for the changes in accumulated other comprehensive income (loss), net of tax, by component for the quarters ended September 25, 2020, December 25, 2020, March 26, 2021, September 27, 2019, December 27, 2019, March 27, 2020 Translation Benefit Plan Cash Flow Adjustment Adjustment Hedges Balance at June 30, 2020 $ 3,454 $ (43,576 ) $ (1,104 ) Translation adjustment during the quarter 3,600 - - Amounts reclassified from accumulated other comprehensive income - 553 75 Net current period other comprehensive income 3,600 553 75 Balance at September 25, 2020 7,054 (43,023 ) (1,029 ) Translation adjustment during the quarter 4,887 - - Amounts reclassified from accumulated other comprehensive income - 555 104 Net current period other comprehensive income 4,887 555 104 Balance at December 25, 2020 11,941 (42,468 ) (925 ) Translation adjustment during the quarter (2,970 ) - - Amounts reclassified from accumulated other comprehensive income - 583 193 Net current period other comprehensive (loss) income (2,970 ) 583 193 Balance at March 26, 2021 $ 8,971 $ (41,885 ) $ (732 ) 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 ) - - Amounts reclassified from accumulated other comprehensive income - 557 (143 ) Net current period other comprehensive (loss) income (3,014 ) 557 (143 ) Balance at September 27, 2019 1,425 (41,344 ) (652 ) Translation adjustment during the quarter 1,647 - - Amounts reclassified from accumulated other comprehensive income - 548 146 Net current period other comprehensive income 1,647 548 146 Balance at December 27, 2019 3,072 (40,796 ) (506 ) Translation adjustment during the quarter (1,257 ) - - Amounts reclassified from accumulated other comprehensive income - 1,593 (582 ) Net current period other comprehensive (loss) income (1,257 ) 1,593 (582 ) Balance at March 27, 2020 $ 1,815 $ (39,203 ) $ (1,088 ) Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter and three March 26, 2021 Amount Reclassified Amount Reclassified Quarter Ended Three Quarters Ended March 26, 2021 March 26, 2021 Changes in benefit plan items Actuarial losses $ 824 (a) $ 2,410 (a) Transition asset and prior service benefit (64 ) (a) (190 ) (a) Total amortization 760 2,220 Income taxes 177 529 Total reclassification net of tax $ 583 $ 1,691 Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter and three March 27, 2020 Amount Reclassified Amount Reclassified Quarter Ended Three Quarters Ended March 27, 2020 March 27, 2020 Changes in benefit plan items Actuarial losses $ 670 (a) $ 2,240 (a) Transition asset and prior service benefit (64 ) (a) (191 ) (a) Total amortization 606 2,049 Other benefit plan adjustments (1,477 ) (1,477 ) Income taxes 490 828 Total reclassification net of tax $ 1,593 $ 2,698 (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).

Note L - Restructuring of Opera

Note L - Restructuring of Operations	9 Months Ended
	Mar. 26, 2021
Notes to Financial Statements
Restructuring, Impairment, and Other Activities Disclosure [Text Block]	L. Restructuring of Operations The Company has implemented various restructuring programs in response to unfavorable macroeconomic trends in certain of the Company’s markets since the fourth 2015. These actions resulted in restructuring charges of $251 and $777 in the quarter and three March 26, 2021, three March 27, 2020. Restructuring activities since June 2015 March 26, 2021 During the second 2020, three March 27, 2020. The following is a roll-forward of restructuring activity: Accrued restructuring liability, June 30, 2020 $ 84 Additions 777 Payments, adjustments and write-offs during the year (646 ) Accrued restructuring liability, March 26, 2021 $ 215

Note M - Earnings Per Share

Note M - Earnings Per Share	9 Months Ended
	Mar. 26, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	M. Earnings Per Share The Company calculates basic earnings per share based upon the weighted average number of common shares outstanding during the period, while the calculation of diluted earnings per share includes the dilutive effect of potential common shares outstanding during the period. The calculation of diluted earnings per share excludes all potential common shares if their inclusion would have an anti-dilutive effect. Certain restricted stock award recipients have a non-forfeitable right to receive dividends declared by the Company, and are therefore included in computing earnings per share pursuant to the two The components of basic and diluted earnings per share were as follows: For the Quarter Ended For the Three Quarters Ended March 26, 2021 March 27, 2020 March 26, 2021 March 27, 2020 Basic: Net income (loss) $ 166 $ (25,176 ) $ (8,051 ) $ (37,935 ) Less: Net earnings attributable to noncontrolling interest (72 ) (54 ) (147 ) (122 ) Less: Undistributed earnings attributable to unvested shares - - - - Net income (loss) available to Twin Disc shareholders 94 (25,230 ) (8,198 ) (38,057 ) Weighted average shares outstanding - basic 13,269 13,175 13,240 13,147 Basic Income (Loss) Per Share: Net income (loss) per share - basic $ 0.01 $ (1.92 ) $ (0.62 ) $ (2.89 ) Diluted: Net income (loss) $ 166 $ (25,176 ) $ (8,051 ) $ (37,935 ) Less: Net earnings attributable to noncontrolling interest (72 ) (54 ) (147 ) (122 ) Less: Undistributed earnings attributable to unvested shares - - - - Net income (loss) available to Twin Disc shareholders 94 (25,230 ) (8,198 ) (38,057 ) Weighted average shares outstanding - basic 13,269 13,175 13,240 13,147 Effect of dilutive stock awards 26 - - - Weighted average shares outstanding - diluted 13,295 13,175 13,240 13,147 Diluted Income (Loss) Per Share: Net income (loss) per share - diluted $ 0.01 $ (1.92 ) $ (0.62 ) $ (2.89 ) The following potential common shares were excluded from diluted EPS for the quarter ended March 26, 2021 three March 26, 2021 The following potential common shares were excluded from diluted EPS for the quarter and three March 27, 2020

Note N - Lease Liabilities

Note N - Lease Liabilities	9 Months Ended
	Mar. 26, 2021
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	N. Lease Liabilities The Company leases certain office and warehouse space, as well as production and office equipment. The Company determines if an arrangement is a lease at contract inception. The lease term begins upon lease commencement, which is when the Company takes possession of the asset, and may not The components of lease expense were as follows: For the Quarter Ended For the Three Quarters Ended March 26, 2021 March 27, 2020 March 26, 2021 March 27, 2020 Finance lease cost: Amortization of right-of-use assets $ 154 $ 49 $ 421 $ 127 Interest on lease liabilities 73 14 201 40 Operating lease cost 717 789 2,097 2,384 Short-term lease cost 17 18 29 43 Variable lease cost 36 17 118 42 Total lease cost 997 887 2,866 2,636 Less: Sublease income (23 ) (53 ) (135 ) (159 ) Net lease cost $ 974 $ 834 $ 2,731 $ 2,477 Other information related to leases was as follows: For the Quarter Ended For the Three Quarters Ended March 26, 2021 March 27, 2020 March 26, 2021 March 27, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 747 $ 780 $ 2,275 $ 2,367 Operating cash flows from finance leases 125 45 343 112 Financing cash flows from finance leases 73 14 201 40 Right-of-use-assets obtained in exchange for lease obligations: Operating leases 19 149 125 2,573 Finance leases 86 188 4,757 465 Weighted average remaining lease term (years): Operating leases 10.5 10.9 Finance lease 12.2 4.3 Weighted average discount rate: Operating leases 7.4 % 7.4 % Finance leases 5.2 % 6.6 % Approximate future minimum rental commitments under non-cancellable leases as of March 26, 2021 Operating Leases Finance Leases 2021 $ 626 $ 197 2022 2,391 789 2023 2,119 780 2024 1,898 736 2025 1,663 496 Thereafter 11,535 4,313 Total future lease payments 20,232 7,311 Less: Amount representing interest (6,331 ) (1,865 ) Present value of future payments $ 13,901 $ 5,446 The following table provides a summary of leases recorded on the condensed consolidated balance sheet. Balance Sheet Location March 26, 2021 June 30, 2020 Lease Assets Operating lease right-of-use assets Property, plant and equipment, net $ 13,880 $ 14,448 Finance lease right-of-use assets Property, plant and equipment, net 5,335 959 Lease Liabilities Operating lease liabilities Accrued liabilities $ 1,470 $ 1,724 Operating lease liabilities Lease obligations 12,431 12,738 Finance lease liabilities Accrued liabilities 525 233 Finance lease liabilities Lease obligations 4,921 757

Note O - Derivative Financial I

Note O - Derivative Financial Instruments	9 Months Ended
	Mar. 26, 2021
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	O. Derivative Financial Instruments From time to time, the Company enters into derivative instruments to manage volatility arising from risks relating to interest rates and foreign exchange. The Company does not no The Company reports all derivative instruments on its consolidated balance sheets at fair value and establishes criteria for designation and effectiveness of transactions entered into for hedging purposes. Interest Rate Swap Contracts The Company has one outstanding interest rate swap contract as of March 26, 2021, 815, The primary purpose of the Company’s cash flow hedging activities is to manage the potential changes in value associated with interest payments on the Company’s LIBOR-based indebtedness. The Company records gains and losses on interest rate swap contracts qualifying as cash flow hedges in accumulated other comprehensive loss to the extent that these hedges are effective and until the Company recognizes the underlying transactions in net earnings, at which time these gains and losses are recognized in interest expense on its consolidated statements of operations and comprehensive loss. Cash flows from derivative financial instruments are classified as cash flows from financing activities on the consolidated statements of cash flows. These contracts generally have original maturities of greater than 12 Net unrealized after-tax losses related to cash flow hedging activities that were included in accumulated other comprehensive loss were $732 and $1,104 as of March 26, 2021 June 30, 2020, The Company estimates that $359 of net unrealized losses related to cash flow hedging activities included in accumulated other comprehensive loss will be reclassified into earnings within the next twelve Foreign Currency Forward Contracts The Company primarily enters into forward exchange contracts to reduce the earnings and cash flow impact of non-functional currency denominated receivables and payables. The Company had no outstanding forward exchange contracts at March 26, 2021. June 30, 2020, one June 30, 2020. Fair Value of Derivative Instruments The fair value of derivative instruments included in the condensed consolidated balance sheets were as follows: Balance Sheet Location March 26, 2021 June 30, 2020 Derivative designated as hedge: Interest rate swap Accrued liabilities $ 335 $ 392 Interest rate swap Other long-term liabilities 623 1,052 The impact of the Company’s derivative instruments on the consolidated statement of operations and comprehensive loss for the quarter and three March 26, 2021 March 27, 2020, Statement of Comprehensive For the Quarter Ended For the Three Quarters Ended Income Location March 26, 2021 March 27, 2020 March 26, 2021 March 27, 2020 Derivative designated as hedge: Interest rate swap Interest expense $ 98 $ 37 $ 297 $ 79 Interest rate swap Unrealized gain (loss) on cash flow hedge 193 (582 ) 372 (579 ) Derivatives not designated as hedges: Foreign currency forward contracts Other income (expense), net $ - $ - $ (13 ) $ -

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 26, 2021
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards In August 2018, 2018 13 820, July 1, 2020. not In August 2018, 2018 14 July 1, 2020. not New Accounting Releases In June 2016, 2016 13 2018 19, 2019 04, 2019 05 2019 10 326 326 December 15, 2019, December 15, 2022 ( 2024 326 In December 2019, 2019 12 December 15, 2020 ( 2022 In March 2020 January 2021, 2020 04 2021 01, March 12, 2020, may December 31, 2022. Special Note Regarding Smaller Reporting Company Status Under SEC Release 33 10513; 34 83550,

Note B - Inventories (Tables)

Note B - Inventories (Tables)	9 Months Ended
	Mar. 26, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 26, 2021 June 30, 2020 Inventories: Finished parts $ 60,040 $ 62,394 Work in process 19,001 17,844 Raw materials 37,652 40,369 $ 116,693 $ 120,607

Note C - Warranty (Tables)

Note C - Warranty (Tables)	9 Months Ended
	Mar. 26, 2021
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 26, 2021 March 27, 2020 March 26, 2021 March 27, 2020 Reserve balance, beginning of period $ 4,474 $ 5,775 $ 4,460 $ 3,736 Current period expense and adjustments 805 3,127 2,550 9,255 Payments or credits to customers (995 ) (2,973 ) (2,814 ) (7,039 ) Translation (28 ) (9 ) 60 (32 ) Reserve balance, end of period $ 4,256 $ 5,920 $ 4,256 $ 5,920

Note E - Business Segments (Tab

Note E - Business Segments (Tables)	9 Months Ended
	Mar. 26, 2021
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 26, 2021 March 27, 2020 March 26, 2021 March 27, 2020 Net sales Manufacturing segment sales $ 52,138 $ 58,877 $ 132,338 $ 170,611 Distribution segment sales 26,221 28,387 71,950 72,839 Inter/Intra segment elimination – manufacturing (15,074 ) (13,993 ) (37,892 ) (42,928 ) Inter/Intra segment elimination – distribution (5,645 ) (4,635 ) (14,019 ) (13,060 ) $ 57,640 $ 68,636 $ 152,377 $ 187,462 Net income (loss) attributable to Twin Disc Manufacturing segment net income (loss) $ 2,422 $ (26,859 ) $ (3,352 ) $ (34,650 ) Distribution segment net income 697 991 2,352 2,925 Corporate and eliminations (3,025 ) 638 (7,198 ) (6,332 ) $ 94 $ (25,230 ) $ (8,198 ) $ (38,057 )
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	March 26, 2021 June 30, 2020 Assets Manufacturing segment assets $ 366,594 $ 365,417 Distribution segment assets 48,121 43,118 Corporate assets and elimination of intercompany assets (116,232 ) (114,408 ) $ 298,483 $ 294,127
Revenue from External Customers by Products and Services [Table Text Block]	Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 5,652 $ 1,491 $ (1,307 ) $ 5,836 Land-based transmissions 13,793 6,892 (5,419 ) 15,266 Marine and propulsion systems 32,671 15,016 (13,951 ) 33,736 Other 22 2,822 (42 ) 2,802 Total $ 52,138 $ 26,221 $ (20,719 ) $ 57,640 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 5,709 $ 1,760 $ (619 ) $ 6,850 Land-based transmissions 15,185 9,051 (6,599 ) 17,637 Marine and propulsion systems 37,968 15,817 (11,409 ) 42,376 Other 15 1,759 (1 ) 1,773 Total $ 58,877 $ 28,387 $ (18,628 ) $ 68,636 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 15,744 $ 4,168 $ (3,369 ) $ 16,543 Land-based transmissions 34,388 19,267 (14,388 ) 39,267 Marine and propulsion systems 82,152 41,996 (34,095 ) 90,053 Other 54 6,519 (59 ) 6,514 Total $ 132,338 $ 71,950 $ (51,911 ) $ 152,377 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 18,409 $ 4,712 $ (2,183 ) $ 20,938 Land-based transmissions 49,159 20,769 (21,466 ) 48,462 Marine and propulsion systems 102,988 43,445 (32,337 ) 114,096 Other 55 3,913 (2 ) 3,966 Total $ 170,611 $ 72,839 $ (55,988 ) $ 187,462

Note G - Pension and Other Po_2

Note G - Pension and Other Postretirement Benefit Plans (Tables)	9 Months Ended
	Mar. 26, 2021
Notes Tables
Schedule of Net Funded Status [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 26, 2021 March 27, 2020 March 26, 2021 March 27, 2020 Pension Benefits: Service cost $ 144 $ 205 $ 432 $ 612 Prior service cost 16 - 48 - Interest cost 715 909 2,072 2,703 Expected return on plan assets (1,133 ) (1,245 ) (3,400 ) (3,733 ) Amortization of transition obligation 9 9 28 26 Amortization of prior service cost (4 ) (4 ) (12 ) (11 ) Amortization of actuarial net loss 811 673 2,434 2,241 Net periodic benefit cost $ 558 $ 547 $ 1,602 $ 1,838 Postretirement Benefits: Service cost $ 4 $ 4 $ 12 $ 13 Interest cost 39 55 116 164 Amortization of prior service cost (69 ) (69 ) (206 ) (206 ) Net periodic benefit gain $ (26 ) $ (10 ) $ (78 ) $ (29 )

Note I - Intangible Assets (Tab

Note I - Intangible Assets (Tables)	9 Months Ended
	Mar. 26, 2021
Notes Tables
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]	Net Book Value Rollforward Net Book Value By Asset Type Gross Carrying Amount Accumulated Amortization / Impairment Net Book Value Customer Relationships Technology Know-how Trade Name Other Balance at June 30, 2020 $ 39,245 $ (20,272 ) $ 18,973 $ 11,554 $ 5,784 $ 1,388 $ 247 Addition 2 - 2 - - - 2 Amortization - (2,516 ) (2,516 ) (1,406 ) (917 ) (137 ) (56 ) Translation adjustment 961 - 961 585 294 70 12 Balance at March 26, 2021 $ 40,208 $ (22,788 ) $ 17,420 $ 10,733 $ 5,161 $ 1,321 $ 205
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Fiscal Year 2021 $ 821 2022 3,136 2023 2,964 2024 2,814 2025 2,626 2026 1,282

Note J - Long-term Debt (Tables

Note J - Long-term Debt (Tables)	9 Months Ended
	Mar. 26, 2021
Notes Tables
Schedule of Debt [Table Text Block]	March 26, 2021 June 30, 2020 Credit Agreement Debt Revolving loans (expire June 2023) $ 15,335 $ 16,641 Term loan (due March 2026) 17,500 17,500 PPP loan 8,200 8,200 Other 191 246 Subtotal 41,226 42,587 Less: current maturities (2,000 ) (4,691 ) Total long-term debt $ 39,226 $ 37,896

Note K - Shareholders' Equity (

Note K - Shareholders' Equity (Tables)	9 Months Ended
	Mar. 26, 2021
Notes Tables
Schedule of Stockholders Equity [Table Text Block]	Twin Disc, Inc. Shareholders’ Equity Accumulated Other Non- Common Retained Comprehensive Treasury Controlling Total Stock Earnings Income (Loss) Stock Interest Equity Balance, June 30, 2020 $ 42,756 $ 156,655 $ (41,226 ) $ (18,796 ) $ 569 $ 139,958 Net (loss) income (3,979 ) 42 (3,937 ) Translation adjustments 3,600 12 3,612 Benefit plan adjustments, net of tax 553 553 Unrealized gain on cash flow hedge, net of tax 75 75 Compensation expense 518 518 Shares (acquired) issued, net (2,460 ) 2,236 (224 ) Balance, September 25, 2020 40,814 152,676 (36,998 ) (16,560 ) 623 140,555 Net (loss) income (4,313 ) 33 (4,280 ) Translation adjustments 4,887 12 4,899 Benefit plan adjustments, net of tax 555 555 Unrealized gain on cash flow hedge, net of tax 104 104 Compensation expense 562 562 Shares (acquired) issued, net (1,458 ) 1,458 - Balance, December 25, 2020 39,918 148,363 (31,452 ) (15,102 ) 668 142,395 Net income 94 72 166 Translation adjustments (2,970 ) (38 ) (3,008 ) Benefit plan adjustments, net of tax 583 583 Unrealized gain on cash flow hedge, net of tax 193 193 Compensation expense 524 524 Shares issued (acquired), net 4 (4 ) - Balance, March 26, 2021 $ 40,446 $ 148,457 $ (33,646 ) $ (15,106 ) $ 702 $ 140,853 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 Net (loss) income (6,516 ) 50 (6,466 ) Translation adjustments 1,647 - 1,647 Benefit plan adjustments, net of tax 548 548 Unrealized gain on cash flow hedge, net of tax 146 146 Compensation expense 248 248 Shares (acquired) issued, net (1,125 ) 1,124 (1 ) Balance, December 27, 2019 42,305 183,645 (38,230 ) (18,796 ) 561 169,485 Net (loss) income (25,230 ) 54 (25,176 ) Translation adjustments (1,257 ) (9 ) (1,266 ) Benefit plan adjustments, net of tax 1,593 1,593 Unrealized loss on cash flow hedge, net of tax (582 ) (582 ) Compensation expense (19 ) (19 ) Balance, March 27, 2020 $ 42,286 $ 158,415 $ (38,476 ) $ (18,796 ) $ 606 $ 144,035
Reconciliation For The Changes In Accumulated Other Comprehensive Income Loss Net Of Tax By Component [Table Text Block]	Translation Benefit Plan Cash Flow Adjustment Adjustment Hedges Balance at June 30, 2020 $ 3,454 $ (43,576 ) $ (1,104 ) Translation adjustment during the quarter 3,600 - - Amounts reclassified from accumulated other comprehensive income - 553 75 Net current period other comprehensive income 3,600 553 75 Balance at September 25, 2020 7,054 (43,023 ) (1,029 ) Translation adjustment during the quarter 4,887 - - Amounts reclassified from accumulated other comprehensive income - 555 104 Net current period other comprehensive income 4,887 555 104 Balance at December 25, 2020 11,941 (42,468 ) (925 ) Translation adjustment during the quarter (2,970 ) - - Amounts reclassified from accumulated other comprehensive income - 583 193 Net current period other comprehensive (loss) income (2,970 ) 583 193 Balance at March 26, 2021 $ 8,971 $ (41,885 ) $ (732 ) 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 ) - - Amounts reclassified from accumulated other comprehensive income - 557 (143 ) Net current period other comprehensive (loss) income (3,014 ) 557 (143 ) Balance at September 27, 2019 1,425 (41,344 ) (652 ) Translation adjustment during the quarter 1,647 - - Amounts reclassified from accumulated other comprehensive income - 548 146 Net current period other comprehensive income 1,647 548 146 Balance at December 27, 2019 3,072 (40,796 ) (506 ) Translation adjustment during the quarter (1,257 ) - - Amounts reclassified from accumulated other comprehensive income - 1,593 (582 ) Net current period other comprehensive (loss) income (1,257 ) 1,593 (582 ) Balance at March 27, 2020 $ 1,815 $ (39,203 ) $ (1,088 )
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amount Reclassified Amount Reclassified Quarter Ended Three Quarters Ended March 26, 2021 March 26, 2021 Changes in benefit plan items Actuarial losses $ 824 (a) $ 2,410 (a) Transition asset and prior service benefit (64 ) (a) (190 ) (a) Total amortization 760 2,220 Income taxes 177 529 Total reclassification net of tax $ 583 $ 1,691 Amount Reclassified Amount Reclassified Quarter Ended Three Quarters Ended March 27, 2020 March 27, 2020 Changes in benefit plan items Actuarial losses $ 670 (a) $ 2,240 (a) Transition asset and prior service benefit (64 ) (a) (191 ) (a) Total amortization 606 2,049 Other benefit plan adjustments (1,477 ) (1,477 ) Income taxes 490 828 Total reclassification net of tax $ 1,593 $ 2,698

Note L - Restructuring of Ope_2

Note L - Restructuring of Operations (Tables)	9 Months Ended
	Mar. 26, 2021
Notes Tables
Restructuring and Related Costs [Table Text Block]	Accrued restructuring liability, June 30, 2020 $ 84 Additions 777 Payments, adjustments and write-offs during the year (646 ) Accrued restructuring liability, March 26, 2021 $ 215

Note M - Earnings Per Share (Ta

Note M - Earnings Per Share (Tables)	9 Months Ended
	Mar. 26, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 26, 2021 March 27, 2020 March 26, 2021 March 27, 2020 Basic: Net income (loss) $ 166 $ (25,176 ) $ (8,051 ) $ (37,935 ) Less: Net earnings attributable to noncontrolling interest (72 ) (54 ) (147 ) (122 ) Less: Undistributed earnings attributable to unvested shares - - - - Net income (loss) available to Twin Disc shareholders 94 (25,230 ) (8,198 ) (38,057 ) Weighted average shares outstanding - basic 13,269 13,175 13,240 13,147 Basic Income (Loss) Per Share: Net income (loss) per share - basic $ 0.01 $ (1.92 ) $ (0.62 ) $ (2.89 ) Diluted: Net income (loss) $ 166 $ (25,176 ) $ (8,051 ) $ (37,935 ) Less: Net earnings attributable to noncontrolling interest (72 ) (54 ) (147 ) (122 ) Less: Undistributed earnings attributable to unvested shares - - - - Net income (loss) available to Twin Disc shareholders 94 (25,230 ) (8,198 ) (38,057 ) Weighted average shares outstanding - basic 13,269 13,175 13,240 13,147 Effect of dilutive stock awards 26 - - - Weighted average shares outstanding - diluted 13,295 13,175 13,240 13,147 Diluted Income (Loss) Per Share: Net income (loss) per share - diluted $ 0.01 $ (1.92 ) $ (0.62 ) $ (2.89 )

Note N - Lease Liabilities (Tab

Note N - Lease Liabilities (Tables)	9 Months Ended
	Mar. 26, 2021
Notes Tables
Lease, Cost [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 26, 2021 March 27, 2020 March 26, 2021 March 27, 2020 Finance lease cost: Amortization of right-of-use assets $ 154 $ 49 $ 421 $ 127 Interest on lease liabilities 73 14 201 40 Operating lease cost 717 789 2,097 2,384 Short-term lease cost 17 18 29 43 Variable lease cost 36 17 118 42 Total lease cost 997 887 2,866 2,636 Less: Sublease income (23 ) (53 ) (135 ) (159 ) Net lease cost $ 974 $ 834 $ 2,731 $ 2,477
Operating and Finance Leases, Other Disclosures [Table Text Block]	For the Quarter Ended For the Three Quarters Ended March 26, 2021 March 27, 2020 March 26, 2021 March 27, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 747 $ 780 $ 2,275 $ 2,367 Operating cash flows from finance leases 125 45 343 112 Financing cash flows from finance leases 73 14 201 40 Right-of-use-assets obtained in exchange for lease obligations: Operating leases 19 149 125 2,573 Finance leases 86 188 4,757 465 Weighted average remaining lease term (years): Operating leases 10.5 10.9 Finance lease 12.2 4.3 Weighted average discount rate: Operating leases 7.4 % 7.4 % Finance leases 5.2 % 6.6 %
Schedule of Future Minimum Rental Payments for Operating Leases and Finance Lease, Liability, Maturity [Table Text Block]	Operating Leases Finance Leases 2021 $ 626 $ 197 2022 2,391 789 2023 2,119 780 2024 1,898 736 2025 1,663 496 Thereafter 11,535 4,313 Total future lease payments 20,232 7,311 Less: Amount representing interest (6,331 ) (1,865 ) Present value of future payments $ 13,901 $ 5,446
Assets and Liabilities, Lessee [Table Text Block]	Balance Sheet Location March 26, 2021 June 30, 2020 Lease Assets Operating lease right-of-use assets Property, plant and equipment, net $ 13,880 $ 14,448 Finance lease right-of-use assets Property, plant and equipment, net 5,335 959 Lease Liabilities Operating lease liabilities Accrued liabilities $ 1,470 $ 1,724 Operating lease liabilities Lease obligations 12,431 12,738 Finance lease liabilities Accrued liabilities 525 233 Finance lease liabilities Lease obligations 4,921 757

Note O - Derivative Financial_2

Note O - Derivative Financial Instruments (Tables)	9 Months Ended
	Mar. 26, 2021
Notes Tables
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	Balance Sheet Location March 26, 2021 June 30, 2020 Derivative designated as hedge: Interest rate swap Accrued liabilities $ 335 $ 392 Interest rate swap Other long-term liabilities 623 1,052
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]	Statement of Comprehensive For the Quarter Ended For the Three Quarters Ended Income Location March 26, 2021 March 27, 2020 March 26, 2021 March 27, 2020 Derivative designated as hedge: Interest rate swap Interest expense $ 98 $ 37 $ 297 $ 79 Interest rate swap Unrealized gain (loss) on cash flow hedge 193 (582 ) 372 (579 ) Derivatives not designated as hedges: Foreign currency forward contracts Other income (expense), net $ - $ - $ (13 ) $ -

Note B - Inventories - Inventor

Note B - Inventories - Inventories (Details) - USD ($) $ in Thousands	Mar. 26, 2021	Jun. 30, 2020
Finished parts	$ 60,040	$ 62,394
Work in process	19,001	17,844
Raw materials	37,652	40,369
Total inventories	$ 116,693	$ 120,607

Note C - Warranty (Details Text

Note C - Warranty (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Mar. 26, 2021	Mar. 27, 2020
Standard and Extended Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties, Total	$ 549	$ 6,123
Product Warranty Accrual, Current	3,314	5,053
Product Warranty Accrual, Noncurrent	$ 942	$ 867

Note C - Warranty - Warranty (D

Note C - Warranty - Warranty (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Reserve balance, beginning of period	$ 4,474	$ 5,775	$ 4,460	$ 3,736
Current period expense and adjustments	805	3,127	2,550	9,255
Payments or credits to customers	(995)	(2,973)	(2,814)	(7,039)
Translation	(28)	(9)	60	(32)
Reserve balance, end of period	$ 4,256	$ 5,920	$ 4,256	$ 5,920

Note E - Business Segments (Det

Note E - Business Segments (Details Textual)	9 Months Ended
	Mar. 26, 2021
Number of Reportable Segments	2

Note E - Business Segments - Re

Note E - Business Segments - Revenues by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Net sales	$ 57,640	$ 68,636	$ 152,377	$ 187,462
Net income (loss)	94	(25,230)	(8,198)	(38,057)
Intersegment Eliminations [Member]
Net sales	(20,719)	(18,628)	(51,911)	(55,988)
Corporate, Non-Segment [Member]
Net income (loss)	(3,025)	638	(7,198)	(6,332)
Manufacturing Segment [Member] | Operating Segments [Member]
Net sales	52,138	58,877	132,338	170,611
Net income (loss)	2,422	(26,859)	(3,352)	(34,650)
Manufacturing Segment [Member] | Intersegment Eliminations [Member]
Net sales	(15,074)	(13,993)	(37,892)	(42,928)
Distribution Segment [Member] | Operating Segments [Member]
Net sales	26,221	28,387	71,950	72,839
Net income (loss)	697	991	2,352	2,925
Distribution Segment [Member] | Intersegment Eliminations [Member]
Net sales	$ (5,645)	$ (4,635)	$ (14,019)	$ (13,060)

Note E - Business Segments - As

Note E - Business Segments - Assets by Segment (Details) - USD ($) $ in Thousands	Mar. 26, 2021	Jun. 30, 2020
Segment Assets	$ 298,483	$ 294,127
Operating Segments [Member] | Manufacturing Segment [Member]
Segment Assets	366,594	365,417
Operating Segments [Member] | Distribution Segment [Member]
Segment Assets	48,121	43,118
Corporate, Non-Segment [Member]
Segment Assets	$ (116,232)	$ (114,408)

Note E - Business Segments - Ne

Note E - Business Segments - Net Sales by Product Group (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Net Sales	$ 57,640	$ 68,636	$ 152,377	$ 187,462
Intersegment Eliminations [Member]
Net Sales	(20,719)	(18,628)	(51,911)	(55,988)
Manufacturing Segment [Member] | Operating Segments [Member]
Net Sales	52,138	58,877	132,338	170,611
Manufacturing Segment [Member] | Intersegment Eliminations [Member]
Net Sales	(15,074)	(13,993)	(37,892)	(42,928)
Distribution Segment [Member] | Operating Segments [Member]
Net Sales	26,221	28,387	71,950	72,839
Distribution Segment [Member] | Intersegment Eliminations [Member]
Net Sales	(5,645)	(4,635)	(14,019)	(13,060)
Industrial [Member]
Net Sales	5,836	6,850	16,543	20,938
Industrial [Member] | Intersegment Eliminations [Member]
Net Sales	(1,307)	(619)	(3,369)	(2,183)
Industrial [Member] | Manufacturing Segment [Member] | Operating Segments [Member]
Net Sales	5,652	5,709	15,744	18,409
Industrial [Member] | Distribution Segment [Member] | Operating Segments [Member]
Net Sales	1,491	1,760	4,168	4,712
Land Based Transmissions [Member]
Net Sales	15,266	17,637	39,267	48,462
Land Based Transmissions [Member] | Intersegment Eliminations [Member]
Net Sales	(5,419)	(6,599)	(14,388)	(21,466)
Land Based Transmissions [Member] | Manufacturing Segment [Member] | Operating Segments [Member]
Net Sales	13,793	15,185	34,388	49,159
Land Based Transmissions [Member] | Distribution Segment [Member] | Operating Segments [Member]
Net Sales	6,892	9,051	19,267	20,769
Marine and Propulsion Systems [Member]
Net Sales	33,736	42,376	90,053	114,096
Marine and Propulsion Systems [Member] | Intersegment Eliminations [Member]
Net Sales	(13,951)	(11,409)	(34,095)	(32,337)
Marine and Propulsion Systems [Member] | Manufacturing Segment [Member] | Operating Segments [Member]
Net Sales	32,671	37,968	82,152	102,988
Marine and Propulsion Systems [Member] | Distribution Segment [Member] | Operating Segments [Member]
Net Sales	15,016	15,817	41,996	43,445
Other [Member]
Net Sales	2,802	1,773	6,514	3,966
Other [Member] | Intersegment Eliminations [Member]
Net Sales	(42)	(1)	(59)	(2)
Other [Member] | Manufacturing Segment [Member] | Operating Segments [Member]
Net Sales	22	15	54	55
Other [Member] | Distribution Segment [Member] | Operating Segments [Member]
Net Sales	$ 2,822	$ 1,759	$ 6,519	$ 3,913

Note F - Stock-based Compensa_2

Note F - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Performance Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			265,300	131,700
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			3 years	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	397,900	184,800	397,900	184,800
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)	433,100	214,000	433,100	214,000
Share-based Payment Arrangement, Expense	$ 132	$ (439)	$ 360	$ (419)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share)	$ 9.26		$ 9.26
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 3,661		$ 3,661
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value			$ 0	$ 0
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			250,300	180,400
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)	377,500	231,400	377,500	231,400
Share-based Payment Arrangement, Expense	$ 302	$ 338	$ 991	$ 862
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 1,662		1,662
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value			$ 533	$ 1,241
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares)			6,800	20,500
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			3 years
Restricted Stock [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			1 year
Restricted Stock [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			3 years
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)	34,800	38,000	34,800	38,000
Share-based Payment Arrangement, Expense	$ 90	$ 82	$ 253	$ 245
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share)	$ 25.79		$ 25.79
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 100		$ 100
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value			$ 25	$ 0

Note G - Pension and Other Po_3

Note G - Pension and Other Postretirement Benefit Plans (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, after Tax	$ 583	$ 1,593	$ 1,691	$ 2,698
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, Tax	177	$ 490	529	$ 828
Pension Plan [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year	$ 2,346		2,346
Defined Benefit Plan, Plan Assets, Contributions by Employer			$ 2,095

Note G - Pension and Other Po_4

Note G - Pension and Other Postretirement Benefit Plans - Net Funded Status of Pension and Postretirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Pension Plan [Member]
Service cost	$ 144	$ 205	$ 432	$ 612
Prior service cost	16	0	48	0
Interest cost	715	909	2,072	2,703
Expected return on plan assets	1,133	1,245	3,400	3,733
Amortization of transition obligation	(9)	(9)	(28)	(26)
Amortization of prior service cost	(4)	(4)	(12)	(11)
Amortization of actuarial net loss	811	673	2,434	2,241
Net periodic benefit cost	558	547	1,602	1,838
Other Postretirement Benefits Plan [Member]
Service cost	4	4	12	13
Interest cost	39	55	116	164
Amortization of prior service cost	(69)	(69)	(206)	(206)
Net periodic benefit cost	$ (26)	$ (10)	$ (78)	$ (29)

Note H - Income Taxes (Details

Note H - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Effective Income Tax Rate Reconciliation, Percent, Total			28.90%	8.90%
Goodwill and Intangible Asset Impairment, Total	$ 0	$ 27,603	$ 0	$ 27,603
Effective Income Tax Rate Reconciliation, Goodwill and Intangible Assets Impairment, Percent				13.80%
Effective Income Tax Rate Reconciliation, GILTI benefit, Percent			12.00%
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 926		$ 926
Foreign Tax Authority [Member]
Open Tax Year			2014 2015 2016 2017 2018 2019 2020
Foreign Tax Authority [Member] | Tax and Customs Administration, Netherlands [Member]
Open Tax Year			2019
Domestic Tax Authority [Member]
Open Tax Year			2017 2018 2019 2020

Note I - Intangible Assets (Det

Note I - Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year)			8 years
Amortization of Intangible Assets, Total	$ 838	$ 1,148	$ 2,516	$ 3,420

Note I - Intangible Assets - In

Note I - Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Balance, Definite Intangible Assets Gross Carrying Amount			$ 39,245
Balance, Definite Intangible Assets Accumulated Amortization/Impairment			(20,272)
Balance at June 30, Definite Intangible Assets Net Book Value			18,973
Addition, Definite Intangible Assets Gross Carrying Amount			2
Addition, Definite Intangible Assets Net Book Value			2
Amortization, Intangible Asset	$ (838)	$ (1,148)	(2,516)	$ (3,420)
Translation adjustment, Definite Intangible Assets Gross Carrying Amount			961
Translation adjustment, Definite Intangible Assets Net Book Value			961
Balance, Definite Intangible Assets Gross Carrying Amount	40,208		40,208
Balance, Definite Intangible Assets Accumulated Amortization/Impairment	(22,788)		(22,788)
Balance at June 30, Definite Intangible Assets Net Book Value	17,420		17,420
Customer Relationships [Member]
Balance at June 30, Definite Intangible Assets Net Book Value			11,554
Addition, Definite Intangible Assets Net Book Value			0
Amortization, Intangible Asset			(1,406)
Translation adjustment, Definite Intangible Assets Net Book Value			585
Balance at June 30, Definite Intangible Assets Net Book Value	10,733		10,733
Technology-Based Intangible Assets [Member]
Balance at June 30, Definite Intangible Assets Net Book Value			5,784
Addition, Definite Intangible Assets Net Book Value			0
Amortization, Intangible Asset			(917)
Translation adjustment, Definite Intangible Assets Net Book Value			294
Balance at June 30, Definite Intangible Assets Net Book Value	5,161		5,161
Trade Names [Member]
Balance at June 30, Definite Intangible Assets Net Book Value			1,388
Addition, Definite Intangible Assets Net Book Value			0
Amortization, Intangible Asset			(137)
Translation adjustment, Definite Intangible Assets Net Book Value			70
Balance at June 30, Definite Intangible Assets Net Book Value	1,321		1,321
Other Intangible Assets [Member]
Balance at June 30, Definite Intangible Assets Net Book Value			247
Addition, Definite Intangible Assets Net Book Value			2
Amortization, Intangible Asset			(56)
Translation adjustment, Definite Intangible Assets Net Book Value			12
Balance at June 30, Definite Intangible Assets Net Book Value	$ 205		$ 205

Note I - Intangible Assets - Es

Note I - Intangible Assets - Estimated Intangibles Amortization Expense (Details) $ in Thousands	Mar. 26, 2021USD ($)
2021	$ 821
2022	3,136
2023	2,964
2024	2,814
2025	2,626
2026	$ 1,282

Note J - Long-term Debt (Detail

Note J - Long-term Debt (Details Textual) $ in Thousands	Apr. 17, 2020USD ($)	Mar. 26, 2021USD ($)	Dec. 31, 2021	Jun. 30, 2020USD ($)	Jun. 29, 2018USD ($)
Long-term Debt, Current Maturities, Total		$ 2,000		$ 4,691
Principal Paid on Sale Leaseback Liabilities		68
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Bank of Montreal [Member]
Derivative, Notional Amount		$ 16,500			$ 20,000
Minimum [Member]
Sale Leaseback Transactions, Term (Year)		3 years
Sale Leaseback Transactions, Implied Interest Rate		7.00%
Maximum [Member]
Sale Leaseback Transactions, Term (Year)		5 years
Sale Leaseback Transactions, Implied Interest Rate		25.00%
Paycheck Protection Program CARES Act [Member] | Promissory Note [Member]
Proceeds from Issuance of Long-term Debt, Total	$ 8,200
BMO [Member] | The 2018 Credit Agreement [Member]
Long-term Debt, Current Maturities, Total		$ 2,000
BMO [Member] | The 2018 Credit Agreement [Member] | Revolving Credit Facility [Member]
Debt Instrument, Interest Rate During Period		4.25%
Line of Credit Facility, Current Borrowing Capacity		$ 42,226
Line of Credit Facility, Remaining Borrowing Capacity		$ 26,891
BMO [Member] | The 2018 Credit Agreement [Member] | Term Loan [Member]
Debt Instrument, Interest Rate During Period		4.02%
BMO [Member] | The 2018 Credit Agreement [Member] | Forecast [Member]
Total Funded Debt To EBITDA Allowable Ratio			3

Note J - Long-term Debt - Long-

Note J - Long-term Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 26, 2021	Jun. 30, 2020
Long-term debt	$ 41,226	$ 42,587
Less: current maturities	(2,000)	(4,691)
Total long-term debt	39,226	37,896
Revolving Loan [Member]
Long-term debt	15,335	16,641
Term Loan [Member]
Long-term debt	17,500	17,500
Promissory Note [Member] | Paycheck Protection Program CARES Act [Member]
Long-term debt	8,200	8,200
Other Long-Term Debt [Member]
Long-term debt	$ 191	$ 246

Note K - Shareholders' Equity_2

Note K - Shareholders' Equity (Details Textual) - shares shares in Thousands	3 Months Ended
	Mar. 26, 2021	Mar. 27, 2020
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares)	315
Treasury Stock, Shares, Acquired (in shares)	0	0

Note K - Shareholders' Equity -

Note K - Shareholders' Equity - Shareholders' Equity Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 26, 2021	Dec. 25, 2020	Sep. 25, 2020	Mar. 27, 2020	Dec. 27, 2019	Sep. 27, 2019	Mar. 26, 2021	Mar. 27, 2020
Balance	$ 142,395	$ 140,555	$ 139,958	$ 169,485	$ 173,363	$ 182,818	$ 139,958	$ 182,818
Net income (loss)	166	(4,280)	(3,937)	(25,176)	(6,466)	(6,293)	(8,051)	(37,935)
Translation adjustments	(3,008)	4,899	3,612	(1,266)	1,647	(2,996)	5,503	(2,615)
Benefit plan adjustments, net of tax	583	555	553	1,593	548	557	1,691	2,698
Interest rate swap	193	104	75	(582)	146	(143)	372	(579)
Compensation expense	524	562	518	(19)	248	459
Shares (acquired) issued, net	0	0	(224)		(1)	(912)
Cash dividends						(127)
Balance	140,853	142,395	140,555	144,035	169,485	173,363	140,853	144,035
Common Stock [Member]
Balance	39,918	40,814	42,756	42,305	43,182	45,047	42,756	45,047
Net income (loss)
Translation adjustments
Benefit plan adjustments, net of tax
Interest rate swap
Compensation expense	524	562	518	(19)	248	459
Shares (acquired) issued, net	4	(1,458)	(2,460)		(1,125)	(2,324)
Balance	40,446	39,918	40,814	42,286	42,305	43,182	40,446	42,286
Retained Earnings [Member]
Balance	148,363	152,676	156,655	183,645	190,161	196,472	156,655	196,472
Net income (loss)	94	(4,313)	(3,979)	(25,230)	(6,516)	(6,311)
Translation adjustments
Benefit plan adjustments, net of tax
Interest rate swap
Compensation expense
Shares (acquired) issued, net
Balance	148,457	148,363	152,676	158,415	183,645	190,161	148,457	158,415
AOCI Attributable to Parent [Member]
Balance	(31,452)	(36,998)	(41,226)	(38,230)	(40,571)	(37,971)	(41,226)	(37,971)
Net income (loss)
Translation adjustments	(2,970)	4,887	3,600	(1,257)	1,647	(3,014)
Benefit plan adjustments, net of tax	583	555	553	1,593	548	557
Interest rate swap	193	104	75	(582)	146	(143)
Compensation expense
Shares (acquired) issued, net
Balance	(33,646)	(31,452)	(36,998)	(38,476)	(38,230)	(40,571)	(33,646)	(38,476)
Treasury Stock [Member]
Balance	(15,102)	(16,560)	(18,796)	(18,796)	(19,920)	(21,332)	(18,796)	(21,332)
Net income (loss)
Translation adjustments
Benefit plan adjustments, net of tax
Interest rate swap
Compensation expense
Shares (acquired) issued, net	(4)	1,458	2,236		1,124	1,412
Balance	(15,106)	(15,102)	(16,560)	(18,796)	(18,796)	(19,920)	(15,106)	(18,796)
Noncontrolling Interest [Member]
Balance	668	623	569	561	511	602	569	602
Net income (loss)	72	33	42	54	50	18
Translation adjustments	(38)	12	12	(9)	0	18
Benefit plan adjustments, net of tax
Interest rate swap
Compensation expense
Shares (acquired) issued, net
Cash dividends						(127)
Balance	$ 702	$ 668	$ 623	$ 606	$ 561	$ 511	$ 702	$ 606

Note K - Stockholders' Equity -

Note K - Stockholders' Equity - Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 26, 2021	Dec. 25, 2020	Sep. 25, 2020	Mar. 27, 2020	Dec. 27, 2019	Sep. 27, 2019	Mar. 26, 2021	Mar. 27, 2020
Balance	$ 142,395	$ 140,555	$ 139,958	$ 169,485	$ 173,363	$ 182,818	$ 139,958	$ 182,818
Translation adjustment during the quarter	(3,008)	4,899	3,612	(1,266)	1,647	(2,996)	5,503	(2,615)
Balance	140,853	142,395	140,555	144,035	169,485	173,363	140,853	144,035
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	11,941	7,054	3,454	3,072	1,425	4,439	3,454	4,439
Translation adjustment during the quarter	(2,970)	4,887	3,600	(1,257)	1,647	(3,014)
Amounts reclassified from accumulated other comprehensive income	0	0	0	0	0	0
Net current period other comprehensive income	(2,970)	4,887	3,600	(1,257)	1,647	(3,014)
Net current period other comprehensive income	(2,970)	4,887	3,600	(1,257)	1,647	(3,014)
Balance	8,971	11,941	7,054	1,815	3,072	1,425	8,971	1,815
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Balance	(42,468)	(43,023)	(43,576)	(40,796)	(41,344)	(41,901)	(43,576)	(41,901)
Translation adjustment during the quarter	0	0	0	0	0	0
Amounts reclassified from accumulated other comprehensive income	583	555	553	1,593	548	557
Net current period other comprehensive income	583	555	553	1,593	548	557
Net current period other comprehensive income	583	555	553	1,593	548	557
Balance	(41,885)	(42,468)	(43,023)	(39,203)	(40,796)	(41,344)	(41,885)	(39,203)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Balance	(925)	(1,029)	(1,104)	(506)	(652)	(509)	(1,104)	(509)
Translation adjustment during the quarter	0	0	0	0	0	0
Amounts reclassified from accumulated other comprehensive income	193	104	75	(582)	146	(143)
Net current period other comprehensive income	193	104	75	(582)	146	(143)
Net current period other comprehensive income	193	104	75	(582)	146	(143)
Balance	$ (732)	$ (925)	$ (1,029)	$ (1,088)	$ (506)	$ (652)	$ (732)	$ (1,088)

Note K - Stockholders' Equity_2

Note K - Stockholders' Equity - Reconciliation for the Reclassifications Out of Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands		3 Months Ended						9 Months Ended
		Mar. 26, 2021	Dec. 25, 2020	Sep. 25, 2020	Mar. 27, 2020	Dec. 27, 2019	Sep. 27, 2019	Mar. 26, 2021	Mar. 27, 2020
Income tax expense (benefit)		$ 300			$ (3,145)			$ (3,267)	$ (3,722)
Net loss		166	$ (4,280)	$ (3,937)	(25,176)	$ (6,466)	$ (6,293)	(8,051)	(37,935)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Actuarial losses	[1]	824			670			2,410	2,240
Transition asset and prior service benefit	[1]	(64)			(64)			(190)	(191)
Total amortization		760			606			2,220	2,049
Income tax expense (benefit)		177			490			529	828
Net loss		$ 583			1,593			$ 1,691	2,698
Other benefit plan adjustments					$ (1,477)				$ (1,477)
[1]	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).

Note L - Restructuring of Ope_3

Note L - Restructuring of Operations (Details Textual) $ in Thousands	3 Months Ended			9 Months Ended		70 Months Ended
	Mar. 26, 2021USD ($)	Mar. 27, 2020USD ($)	Dec. 27, 2019USD ($)	Mar. 26, 2021USD ($)	Mar. 27, 2020USD ($)	Mar. 26, 2021USD ($)
Restructuring Charges, Total	$ 251	$ 532		$ 777	$ 4,902	$ 13,182
Restructuring and Related Cost, Number of Positions Eliminated						249
Payments for Restructuring				646
Employee Severance [Member]
Restructuring Charges, Total	$ 251	532		$ 777	$ 1,717
Contract Termination [Member] | Manufacturing Segment [Member]
Restructuring Charges, Total		$ 3,185
Restructuring Reserve, Settled without Cash			$ 2,185
Payments for Restructuring			$ 1,000

Note L - Restructuring of Ope_4

Note L - Restructuring of Operations - Roll-forward of Restructuring Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		70 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021
Accrued restructuring liability			$ 84
Additions	$ 251	$ 532	777	$ 4,902	$ 13,182
Payments, adjustments and write-offs during the year			(646)
Accrued restructuring liability	$ 215		$ 215		$ 215

Note M - Earnings Per Share (De

Note M - Earnings Per Share (Details Textual) - shares	3 Months Ended	9 Months Ended
	Mar. 26, 2021	Mar. 26, 2021	Mar. 27, 2020
Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)		433,100	214,000
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)		377,500	231,400
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	9,100	34,800	38,000

Note M - Earnings Per Share - C

Note M - Earnings Per Share - Components of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 26, 2021	Dec. 25, 2020	Sep. 25, 2020	Mar. 27, 2020	Dec. 27, 2019	Sep. 27, 2019	Mar. 26, 2021	Mar. 27, 2020
Net loss	$ 166	$ (4,280)	$ (3,937)	$ (25,176)	$ (6,466)	$ (6,293)	$ (8,051)	$ (37,935)
Less: Net earnings attributable to noncontrolling interest	(72)			(54)			(147)	(122)
Less: Undistributed earnings attributable to unvested shares	0			0			0	0
Net income (loss) available to Twin Disc shareholders	$ 94			$ (25,230)			$ (8,198)	$ (38,057)
Weighted average shares outstanding - basic (in shares)	13,269			13,175			13,240	13,147
Net income (loss) per share - basic (in dollars per share)	$ 0.01			$ (1.92)			$ (0.62)	$ (2.89)
Net income (loss) available to Twin Disc shareholders	$ 94			$ (25,230)			$ (8,198)	$ (38,057)
Effect of dilutive stock awards (in shares)	26			0			0	0
Weighted average shares outstanding - diluted (in shares)	13,295			13,175			13,240	13,147
Net income (loss) per share - diluted (in dollars per share)	$ 0.01			$ (1.92)			$ (0.62)	$ (2.89)

Note N - Lease Liabilities - Co

Note N - Lease Liabilities - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Amortization of right-of-use assets	$ 154	$ 49	$ 421	$ 127
Interest on lease liabilities	73	14	201	40
Operating lease cost	717	789	2,097	2,384
Short-term lease cost	17	18	29	43
Variable lease cost	36	17	118	42
Total lease cost	997	887	2,866	2,636
Less: Sublease income	(23)	(53)	(135)	(159)
Net lease cost	$ 974	$ 834	$ 2,731	$ 2,477

Note N - Lease Liabilities - Ot

Note N - Lease Liabilities - Other Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 26, 2021	Mar. 27, 2020	Mar. 26, 2021	Mar. 27, 2020
Operating cash flows from operating leases	$ 747	$ 780	$ 2,275	$ 2,367
Operating cash flows from finance leases	125	45	343	112
Financing cash flows from finance leases	73	14	201	40
Right-of-use-assets obtained in exchange for lease obligations: Operating leases	19	149	125	2,573
Right-of-use-assets obtained in exchange for lease obligations: Finance leases	$ 86	$ 188	$ 4,757	$ 465
Weighted average remaining lease term (years): Operating leases (Year)	10 years 6 months	10 years 10 months 24 days	10 years 6 months	10 years 10 months 24 days
Weighted average remaining lease term (years): Finance lease (Year)	12 years 2 months 12 days	4 years 3 months 18 days	12 years 2 months 12 days	4 years 3 months 18 days
Weighted average discount rate: Operating leases	7.40%	7.40%	7.40%	7.40%
Weighted average discount rate: Finance leases	5.20%	6.60%	5.20%	6.60%

Note N - Lease Liabilities - Fu

Note N - Lease Liabilities - Future Minimum Rental Commitments Under Noncancellable Leases (Details) $ in Thousands	Mar. 26, 2021USD ($)
2021, Operating Leases	$ 626
2021, Finance Leases	197
2022, Operating Leases	2,391
2022, Finance Leases	789
2023, Operating Leases	2,119
2023, Finance Leases	780
2024, Operating Leases	1,898
2024, Finance Leases	736
2025, Operating Leases	1,663
2025, Finance Leases	496
Thereafter, Operating Leases	11,535
Thereafter, Finance Leases	4,313
Total future lease payments, Operating Leases	20,232
Total future lease payments, Finance Leases	7,311
Less: Amount representing interest, Operating Leases	(6,331)
Less: Amount representing interest, Finance Leases	(1,865)
Present value of future payments, Operating Leases	13,901
Present value of future payments, Finance Leases	$ 5,446

Note N - Lease Liabilities - _2

Note N - Lease Liabilities - Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 26, 2021	Jun. 30, 2020
Operating lease liabilities	$ 17,352	$ 13,495
Property, Plant and Equipment, Net [Member]
Operating lease right-of-use assets	13,880	14,448
Finance lease right-of-use assets	5,335	959
Accrued Liabilities [Member]
Operating lease liabilities	1,470	1,724
Finance lease liabilities	525	233
Lease Obligation [Member]
Operating lease liabilities	12,431	12,738
Finance lease liabilities	$ 4,921	$ 757

Note O - Derivative Financial_3

Note O - Derivative Financial Instruments (Details Textual) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 26, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 25, 2020USD ($)	Sep. 25, 2020USD ($)	Mar. 27, 2020USD ($)	Dec. 27, 2019USD ($)	Sep. 27, 2019USD ($)	Jun. 30, 2019USD ($)	Jun. 29, 2018USD ($)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	$ 140,853	$ 139,958	$ 142,395	$ 140,555	$ 144,035	$ 169,485	$ 173,363	$ 182,818
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	359
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	$ (732)	$ (1,104)	$ (925)	$ (1,029)	$ (1,088)	$ (506)	$ (652)	$ (509)
Interest Rate Swap [Member]
Derivative, Number of Instruments Held, Total	1
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Bank of Montreal [Member]
Derivative, Notional Amount	$ 16,500								$ 20,000
Foreign Exchange Forward [Member]
Derivative, Number of Instruments Held, Total	0	1
Derivative, Notional Amount		$ 1,247
Derivative, Average Remaining Maturity (Day)		7 days
Derivative, Loss on Derivative		$ 9

Note O - Derivative Financial_4

Note O - Derivative Financial Instruments - Fair Value of Derivative Instruments (Details) - Interest Rate Swap [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	Mar. 26, 2021	Jun. 30, 2020
Accounts Payable and Accrued Liabilities [Member]
Derivative Liabilities, Current	$ 335	$ 392
Other Noncurrent Liabilities [Member]
Derivative Liabilities, Noncurrent	$ 623	$ 1,052

Note O - Derivative Financial_5

Note O - Derivative Financial Instruments - Impact of the Company's Derivative Instruments on the Consolidated Statement of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 26, 2021	Dec. 25, 2020	Sep. 25, 2020	Mar. 27, 2020	Dec. 27, 2019	Sep. 27, 2019	Mar. 26, 2021	Mar. 27, 2020
Interest rate swap	$ 193	$ 104	$ 75	$ (582)	$ 146	$ (143)	$ 372	$ (579)
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Interest rate swap	193			(582)			372	(579)
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Interest Expense [Member]
Gain (loss) on derivative instruments	98			37			297	79
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | Other Nonoperating Income (Expense) [Member]
Gain (loss) on derivative instruments	$ 0			$ 0			$ (13)	$ 0