Twin Disc (TWIN) 10-K 2 Sep 21 2021 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2021	Aug. 20, 2021	Dec. 25, 2020
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	FY
Document Fiscal Year Focus	2021
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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 Public Float			$ 77,500,872
Entity Common Stock, Shares Outstanding		13,654,965
ICFR Auditor Attestation Flag	true

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Current assets:
Cash	$ 12,340	$ 10,688
Trade accounts receivable, net	39,491	30,682
Inventories	114,967	120,607
Assets held for sale	9,539	0
Prepaid expenses	5,704	5,269
Other	9,926	6,739
Total current assets	191,967	173,985
Property, plant and equipment, net	45,463	58,284
Operating lease right-of-use assets	14,736	14,448
Intangible assets, net	17,480	18,973
Deferred income taxes	2,511	24,445
Other assets	3,256	3,992
Total assets	275,413	294,127
Current liabilities:
Current maturities of long-term debt	2,000	4,691
Accounts payable	31,011	25,663
Accrued liabilities	45,549	36,380
Total current liabilities	78,560	66,734
Long-term debt	30,085	37,896
Lease obligations	12,887	12,738
Accrued retirement benefits	11,176	27,938
Deferred income taxes	5,045	5,501
Other long-term liabilities	7,000	3,362
Total liabilities	144,753	154,169
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	40,972	42,756
Retained earnings	126,936	156,655
Accumulated other comprehensive loss	(22,615)	(41,226)
Equity before treasury stock	145,293	158,185
Less treasury stock, at cost (984,139 and 1,226,809 shares, respectively)	15,083	18,796
Total Twin Disc shareholders' equity	130,210	139,389
Noncontrolling interest	450	569
Total equity	130,660	139,958
Total liabilities and equity	$ 275,413	$ 294,127

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares $ / shares in Thousands	Jun. 30, 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)	984,139	1,226,809

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Net Sales	$ 218,581	$ 246,838
Cost of goods sold	167,724	191,130
Gross profit	50,857	55,708
Marketing, engineering and administrative expenses	55,750	63,218
Restructuring expenses	7,377	5,138
Goodwill and other asset impairment charge	0	27,603
Loss from operations	(12,270)	(40,251)
Other income (expense):
Interest expense	(2,358)	(1,860)
Income from extinguishment of loan	8,200	0
Other (expense) income, net	(3,411)	(1,629)
Non-operating income (expense)	2,431	(3,489)
Loss before income taxes and noncontrolling interest	(9,839)	(43,740)
Income tax expense (benefit)	19,680	(4,169)
Net loss	(29,519)	(39,571)
Less: Net earnings attributable to noncontrolling interest, net of tax	(200)	(246)
Net loss attributable to Twin Disc	$ (29,719)	$ (39,817)
Loss per share data:
Basic loss per share attributable to Twin Disc common shareholders (in dollars per share)	$ (2.24)	$ (3.03)
Diluted loss per share attributable to Twin Disc common shareholders (in dollars per share)	$ (2.24)	$ (3.03)
Weighted average shares outstanding data:
Basic shares outstanding (in shares)	13,247	13,153
Dilutive stock awards (in shares)	0	0
Diluted shares outstanding (in shares)	13,247	13,153
Comprehensive loss
Net loss	$ (29,519)	$ (39,571)
Foreign currency translation adjustment	5,639	(966)
Benefit plan adjustments, net of income taxes of $3,791 and ($530), respectively	12,113	(1,675)
Unrealized gain (loss) on hedges, net of income taxes of $235 and ($185), respectively	760	(595)
Comprehensive loss	(11,007)	(42,807)
Less: Comprehensive income attributable to noncontrolling interest	(101)	(266)
Comprehensive loss attributable to Twin Disc	$ (11,108)	$ (43,073)

Consolidated Statements of Op_2

Consolidated Statements of Operations and Comprehensive Loss (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Benefit plan adjustments, income taxes	$ 3,791	$ (530)
Unrealized loss on cash flow hedge, income taxes	$ 235	$ (185)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net loss	$ (29,519)	$ (39,571)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	11,243	11,925
Income from extinguishment of loan	(8,200)	0
Restructuring of operations	6,619	2,269
Stock compensation expense	2,154	1,158
Provision for deferred income taxes	17,655	(8,072)
Goodwill and other asset impairment charge	0	27,603
Other, net	798	258
Changes in operating assets and liabilities
Trade accounts receivable	(7,810)	13,132
Inventories	9,063	6,775
Other assets	(5,007)	2,246
Accounts payable	4,606	(3,342)
Accrued liabilities	7,058	(5,807)
Accrued/prepaid retirement benefits	(2,132)	544
Net cash provided by operating activities	6,528	9,118
Cash flows from investing activities:
Capital expenditures	(4,464)	(10,699)
Proceeds on note receivable	1,500	500
Proceeds from sale of plant assets	102	137
Proceeds from life insurance policy	253	102
Other, net	(133)	(159)
Net cash used by investing activities	(2,742)	(10,119)
Cash flows from financing activities:
Borrowings under long-term debt agreement	0	8,200
Borrowings under revolving loan agreement	76,335	99,262
Repayments under revolving loan agreement	(78,370)	(105,065)
Repayments of long-term borrowings	(1,838)	(2,241)
Payments of withholding taxes on stock compensation	(224)	(913)
Dividends paid to noncontrolling interest	(220)	(298)
Net cash used by financing activities	(4,317)	(1,055)
Effect of exchange rate changes on cash	2,183	382
Net change in cash	1,652	(1,674)
Cash:
Beginning of year	10,688	12,362
End of year	12,340	10,688
Supplemental cash flow information:
Interest	2,366	1,861
Income taxes	$ 3,257	$ 3,481

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Noncontrolling Interest [Member]	Total
Balance at Jun. 30, 2019	$ 45,047	$ 196,472	$ (37,971)	$ (21,332)	$ 602	$ 182,818
Net (loss) income		(39,817)			246	(39,571)
Translation adjustments			(985)		19	(966)
Benefit plan adjustments, net of tax			(1,675)			(1,675)
Unrealized gain (loss) on hedges			(595)			(595)
Cash dividends					(298)	(298)
Compensation expense	1,158					1,158
Shares (acquired) issued, net	(3,449)			2,536		(913)
Balance at Jun. 30, 2020	42,756	156,655	(41,226)	(18,796)	569	139,958
Net (loss) income		(29,719)			200	(29,519)
Translation adjustments			5,738		(99)	5,639
Benefit plan adjustments, net of tax			12,113			12,113
Unrealized gain (loss) on hedges			760			760
Cash dividends					(220)	(220)
Compensation expense	2,154					2,154
Shares (acquired) issued, net	(3,938)			3,713		(225)
Balance at Jun. 30, 2021	$ 40,972	$ 126,936	$ (22,615)	$ (15,083)	$ 450	$ 130,660

Note A - Significant Accounting

Note A - Significant Accounting Policies	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	A. SIGNIFICANT ACCOUNTING POLICIES COVID- 19 Throughout this report, references made to “COVID- 19” March 2020. The full impact of the COVID- 19 19 Significant Accounting Policies The following is a summary of the significant accounting policies followed in the preparation of these financial statements: Consolidation Principles 2021 2020, not Management Estimates-- Translation of Foreign Currencies 2021 2020, Cash three not Accounts Receivable June 30, 2021 2020, may may Fair Value of Financial Instruments . 1 2 June 30, 2021. June 30, 2021. 2 Derivative Financial Instruments - Inventories Assets Held for Sale-- Assets Held for Sale are carried at fair value less costs to sell, or net book value, whichever is lower. The Company ceases to record depreciation expense at the time of designation as held for sale. During fiscal 2021, Property, Plant and Equipment and Depreciation not Right of Use Lease Assets-- 842, twelve 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 During fiscal 2021, 842 June 30, 2020. June 30, 2020 June 30, 2020 As Reported Impact Restated Property, plant and equipment, net $ 72,732 $ (14,448 ) $ 58,284 Right-of-use assets operating leases - 14,448 14,448 Lease obligations $ 13,495 $ (757 ) $ 12,738 Other long-term liabilities 2,605 757 3,362 Impairment of Long-lived Assets may not may third Intangible Assets Income Taxes not not not Revenue Recognition five 1. identify the contract with a customer 2. identify the performance obligations in the contract 3. determine the transaction price 4. allocate the transaction price to the performance obligations in the contract 5. recognize revenue not not no Goods sold to third Shipping and Handling Fees and Costs Recently Adopted Accounting Standards a. In August 2018, 2018 13 820, Fair Value Measurement July 1, 2020. not b. In August 2018, 2018 14 July 1, 2020. not New Accounting Releases a. In June 2016, 2016 13 2018 19, 2019 04, 2019 05 2019 10 326 326 December 15, 2019, December 15, 2022 ( 2024 326 b. In December 2019, 2019 12 December 15, 2020 ( 2022 c. 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, second 2021.

Note B - Inventories

Note B - Inventories	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Inventory Disclosure [Text Block]	B. INVENTORIES The major classes of inventories at June 30 2021 2020 Finished parts $ 59,761 $ 62,394 Work in process 17,908 17,844 Raw materials 37,298 40,369 $ 114,967 $ 120,607 Inventories stated on a LIFO basis represent approximately 45% and 50% of total inventories at June 30, 2021 2020, June 30, 2021 2020, 2021, not June 30, 2021, June 20, 2020. The Company had reserves for inventory obsolescence of $10,279 and $9,863 at June 30, 2021 2020,

Note C - Property, Plant and Eq

Note C - Property, Plant and Equipment	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	C. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment at June 30 2021 2020 Land $ 3,858 $ 6,589 Buildings 30,317 48,168 Machinery and equipment 150,872 146,841 185,047 201,598 Less: accumulated depreciation (139,584 ) (143,314 ) $ 45,463 $ 58,284 Included in the above amounts are finance lease right-of-use assets of $5,244 and $959 for the years ended June 30, 2021 2020, Depreciation expense for the years ended June 30, 2021 2020

Note D - Intangible Assets

Note D - Intangible Assets	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	D. INTANGIBLE ASSETS At June 30, 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, 2019 $ 39,587 $ (14,434 ) $ 25,153 $ 14,843 $ 7,025 $ 2,733 $ 552 Addition 92 - 92 - - - 92 Amortization - (4,532 ) (4,532 ) (3,003 ) (1,139 ) (232 ) (158 ) Impairment - (1,306 ) (1,306 ) - - (1,080 ) (226 ) Translation adjustment (434 ) - (434 ) (286 ) (102 ) (33 ) (13 ) Balance at June 30, 2020 39,245 (20,272 ) 18,973 11,554 5,784 1,388 247 Addition 833 - 833 - - - 833 Amortization - (3,390 ) (3,390 ) (1,880 ) (1,226 ) (184 ) (100 ) Translation adjustment 1,064 - 1,064 647 325 78 14 Balance at June 30, 2021 $ 41,142 $ (23,662 ) $ 17,480 $ 10,321 $ 4,883 $ 1,282 $ 994 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 7 years. Intangible amortization expense for the years ended June 30, 2021 2020 five Fiscal Year 2022 $ 3,316 2023 3,144 2024 2,988 2025 2,817 2026 1,427 Thereafter 3,788 Goodwill and Other Intangibles Impairment Charge in Fiscal 2020 Prior to the third 2020, 19 19 third 2020 March 27, 2020. The Company completed its assessment for goodwill impairment as of March 27, 2020 third As a result of the full impairment of goodwill, the balance of goodwill at June 30, 2021 June 30, 2020 zero no As a consequence of these macroeconomic developments, market insights and expectations, and the occurrence of a triggering event in the quarter, the Company also performed an assessment of its intangibles and other long-lived assets. The Company performed an undiscounted operating cash flow analysis as of March 27, 2020, The total non-cash impairment charge of $27,603 in fiscal year 2020, The changes in the carrying amount of goodwill are summarized as follows: Net Book Value Rollforward Net Book Value By Reporting Unit Gross Carrying Amount Accumulated Impairment Net Book Value European Propulsion European Industrial Balance at June 30, 2019 $ 39,776 $ (13,822 ) $ 25,954 $ 23,371 $ 2,583 Impairment - (25,380 ) (25,380 ) (22,822 ) (2,558 ) Translation adjustment (574 ) - (574 ) (549 ) (25 ) Balance at June 30, 2020 39,202 (39,202 ) - - - Translation adjustment - - - - - Balance at June 30, 2021 $ 39,202 $ (39,202 ) $ - $ - $ -

Note E - Accrued Liabilities

Note E - Accrued Liabilities	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	E. ACCRUED LIABILITIES Accrued liabilities at June 30 2021 2020 Customer deposits $ 13,124 $ 11,541 Salaries and wages 10,022 5,116 Warranty 3,448 3,520 Distributor rebates 3,190 3,769 Retirement benefits 1,769 3,559 Other 13,996 8,875 $ 45,549 $ 36,380 The increase in accrued salaries and wages as of June 30, 2021

Note F - Warranty

Note F - Warranty	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	F. WARRANTY The Company warrants all assembled products, parts (except component products or parts on which written warranties are issued by the respective manufacturers thereof and are furnished to the original customer, as to which the Company makes no no June 30: 2021 2020 Reserve balance, July 1 $ 4,460 $ 3,736 Current period expense and adjustments 3,590 10,369 Payments or credits to customers (3,742 ) (9,629 ) Translation adjustment 61 (16 ) Reserve balance, June 30 $ 4,369 $ 4,460 Included in current period expense and adjustments in the year ended June 30, 2020 The current portion of the warranty accrual ($3,448 and $3,520 for fiscal 2021 2020, 2021 2020,

Note G - Debt

Note G - Debt	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	G. DEBT Long-term debt consisted of the following at June 30: 2021 2020 Credit Agreement Debt Revolving loans (expire June 2023) $ 15,415 $ 16,641 Term loan (due March 2026) 16,500 17,500 PPP loan - 8,200 Other 170 246 Subtotal 32,085 42,587 Less: current maturities (2,000 ) (4,691 ) Total long-term debt $ 30,085 $ 37,896 Credit Agreement Debt On June 29, 2018, not may, not On July 2, 2018, On September 25, 2018, On March 4, 2019, second $35,000 $20,000 $35,000 Prior to entering into the Second Amendment, the outstanding principal amount of the Term Loan under the Credit Agreement was $10,849. On the date of the Second Amendment, the BMO made an additional advance on the Term Loan to the Company in the amount of $9,151. The Second Amendment also extended the maturity date of the Term Loan from January 2, 2020 March 4, 2026, June 30, 2019. The Second Amendment also reduced the applicable margin for purposes of determining the interest rate applicable to the Term Loan. Previously, the applicable margin was 3.00%, which was added to the Monthly Reset LIBOR Rate or the Adjusted LIBOR, as applicable. Under the Second Amendment, the applicable margin is between 1.375% and 2.375%, depending on the Company’s total funded debt to EBITDA ratio. The Second Amendment also adjusts certain financial covenants made by the Company under the Credit Agreement. Specifically, the Company has covenanted (i) not 1.00 1.00 September 30, 2019 1.00 December 31, 2019 September 30, 2020), not 50% June 30, 2019 $100,000 On January 28, 2020, third 1.00 1.00 December 27, 2019, 1.00 March 27, 2020, 1.00 June 30, 2020, 1.00 September 25, 2020 1.00 December 25, 2020. not one On April 17, 2020, fourth 1 2 not On July 22, 2020, fifth June 30, 2020. September 30, 2020 December 31, 2020 2021 2026. In addition, the Company was given financial covenant relief for the quarters ended June 30, 2020 June 30, 2021. 1 June 30, 2020 two September 25, 2020; ( 2 three December 25, 2020; ( 3 four March 26, 2021; 4 four June 30, 2021. The Company also entered into a Deposit Account Control Agreement with the Bank, reflecting the Bank’s security interest in deposit accounts the Company maintains with the Bank. Under the Fifth Amendment, the Bank may not On January 27, 2021, September 30, 2021. December 31, 2021, 1.00. For the quarter ended June 30, 2021, not The Company is also required to maintain a minimum liquidity level, and abide by certain cash dividend and capital expenditure restrictions. The Company remains in compliance with its liquidity and other financial covenants, and has agreed to provide additional financial reports to BMO. Borrowings under the Credit Agreement are secured by substantially all of the Company’s personal property, including accounts receivable, inventory, machinery and equipment, and intellectual property. The Company has also pledged 100% of its equity interests in certain domestic subsidiaries and 65% of its equity interests in certain foreign subsidiaries. The Company also entered into a Collateral Assignment of Rights under Purchase Agreement for its acquisition of Veth Propulsion. Upon the occurrence of an event of default, BMO may 1 2 3 may three In addition to the monthly interest payments and any mandatory principal payments required by the Credit Agreement (if applicable), the Company is responsible for paying a quarterly Revolving Credit Commitment Fee and quarterly Letter of Credit Fees. The Revolving Credit Commitment Fee is paid at an annual rate equal to the Applicable Margin on the average daily unused portion of the Revolving Credit Commitment. The Letter of Credit Fee is paid at the Applicable Margin for Revolving Loans that are Eurodollar Loans on the daily average face amount of Letters of Credit outstanding during the preceding calendar quarter. The Company may one The PPP Loan: On April 17, 2020, 19 two 1.0% April 2022. The PPP Loan is a forgivable loan to the extent proceeds are used to cover qualified documented payroll, mortgage interest, rent, and utility costs over a 24 In accounting for the terms of the PPP Loan, the Company is guided by ASC 470 Debt 450 30 Gain contingency $8,200 not June 16, 2021, 2021. While the loan has been formally forgiven, under the terms of the PPP Loan, the Company remains subject to an audit by the SBA for a period of six 450 Contingencies Other: Other long-term debt pertains mainly to a financing arrangement in Europe. During fiscal 2019, 3 5 842, Leases During fiscal year 2021, As of June 30, 2021, The Company’s borrowings described above approximates fair value at June 30, 2021 June 30, 2020. 2 The Company is party to an interest rate swap arrangement with Bank of Montreal, with an outstanding notional amount of $15,500 as of June 30, 2021, March 2026. 815, Derivatives and Hedging During the fourth 2021, The aggregate scheduled maturities of outstanding long-term debt obligations in subsequent years are as follows: Fiscal Year 2022 $ 2,084 2023 17,461 2024 2,015 2025 2,000 2026 8,500 Thereafter 25 $ 32,085 Other lines of credit: The Company has established unsecured lines of credit, which may June 30, 2021, June 30, 2020.

Note H - Lease Obligations

Note H - Lease Obligations	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	H. LEASE OBLIGATIONS The following table provides a summary of leases recorded on the consolidated balance sheet at June 30. Balance Sheet Location 2021 2020 Lease Assets Operating lease right-of-use assets Right-of-use assets operating leases $ 14,736 $ 14,448 Finance lease right-of-use assets Property, plant and equipment, net 5,244 959 Lease Liabilities Operating lease liabilities Accrued liabilities $ 1,870 $ 1,724 Operating lease liabilities Lease obligations 12,887 12,738 Finance lease liabilities Accrued liabilities 541 233 Finance lease liabilities Other long-term liabilities 4,836 757 The components of lease expense for the years ended June 30 2021 2020 Finance lease cost: Amortization of right-of-use assets $ 580 $ 188 Interest on lease liabilities 273 56 Operating lease cost 2,795 3,137 Short-term lease cost 24 64 Variable lease cost 159 58 Total lease cost 3,831 3,503 Less: Sublease income (154 ) (212 ) Net lease cost $ 3,677 $ 3,291 Other information related to leases was as follows: 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,022 $ 3,141 Operating cash flows from finance leases 480 167 Financing cash flows from finance leases 273 56 Right-of-use-assets obtained in exchange for lease obligations: Operating leases 1,481 2,757 Finance leases 4,814 592 Weighted average remaining lease term (years): Operating leases 9.8 10.7 Finance lease 12.0 4.0 Weighted average discount rate: Operating leases 7.2 % 7.4 % Finance leases 5.2 % 6.2 % Approximate future minimum rental commitments under non-cancellable leases as of June 30, 2021 Operating Leases Finance Leases 2022 $ 2,898 $ 805 2023 2,600 796 2024 2,256 752 2025 1,663 507 2026 1,575 434 Thereafter 9,989 3,879 Total future lease payments 20,981 7,173 Less: Amount representing interest (6,224 ) (1,796 ) Present value of future payments $ 14,757 $ 5,377

Note I - Shareholders' Equity

Note I - Shareholders' Equity	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	I. SHAREHOLDERS' EQUITY The total number of shares of common stock outstanding at June 30, 2021 2020 June 30, 2021 2020, 2021 2020, 2021 2020, Under an authorization given by the Board of Directors on July 27, 2012, not two June 30, 2021 2020, Cash dividends per share were $0.00 in both fiscal 2021 2020. The Company is authorized to issue 200,000 shares of preferred stock, none The components of accumulated other comprehensive loss included in equity as of June 30, 2021 2020 2021 2020 Translation adjustments $ 9,192 $ 3,454 Net loss on cash flow hedge derivatives, net of income taxes of $211 $341 (678 ) (1,104 ) Net gain on net investment hedge derivatives, net of income taxes of $103 $0 334 - Benefit plan adjustments, net of income taxes of $9,537 $13,316 (31,463 ) (43,576 ) Accumulated other comprehensive loss $ (22,615 ) $ (41,226 ) A reconciliation for the changes in accumulated other comprehensive loss, net of tax, by component for the years ended June 30, 2021 June 30, 2020 Translation Benefit Plan Cash Flow Net Investment Adjustment Adjustment Hedges Hedges Balance at June 30, 2020 $ 3,454 $ (43,576 ) $ (1,104 ) $ - Other comprehensive loss before reclassifications 5,738 9,783 426 334 Amounts reclassified from accumulated other comprehensive loss - 2,330 - - Net current period other comprehensive income 5,738 12,113 426 334 Balance at June 30, 2021 $ 9,192 $ (31,463 ) $ (678 ) $ 334 Translation Benefit Plan Cash Flow Adjustment Adjustment Hedges Balance at June 30, 2019 $ 4,439 $ (41,901 ) $ (509 ) Other comprehensive loss before reclassifications (985 ) (3,792 ) (595 ) Amounts reclassified from accumulated other comprehensive loss - 2,117 - Net current period other comprehensive loss (985 ) (1,675 ) (595 ) Balance at June 30, 2020 $ 3,454 $ (43,576 ) $ (1,104 ) A reconciliation for the reclassifications out of accumulated other comprehensive loss, net of tax, for the year ended June 30, 2021 Amount Reclassified Amortization of benefit plan items Actuarial losses $ (3,246 ) Transition asset and prior service benefit 187 Total before tax benefit (3,059 ) Tax benefit 729 Total reclassification net of tax $ (2,330 ) A reconciliation for the reclassifications out of accumulated other comprehensive loss, net of tax, for the year ended June 30, 2020 Amount Reclassified Amortization of benefit plan items Actuarial losses $ (2,982 ) Transition asset and prior service benefit 195 Total before tax benefit (2,787 ) Tax benefit 670 Total reclassification net of tax $ (2,117 )

Note J - Business Segments and

Note J - Business Segments and Foreign Operations	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	J. BUSINESS SEGMENTS AND FOREIGN OPERATIONS 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, energy and natural resources, government, and industrial markets. Net sales by product group is summarized as follows: 2021 2020 Industrial $ 23,454 $ 26,343 Land-based transmissions 58,421 62,697 Marine and propulsion systems 127,243 152,501 Other 9,463 5,297 Total $ 218,581 $ 246,838 Industrial products include clutches, power take-offs and pump drives sold to the agriculture, recycling, construction and oil and gas markets. The land based transmission products include applications for oil field and natural gas, military and airport rescue and fire fighting. The marine and propulsion systems include marine transmission, azimuth drives, controls, surface drives, propellers and boat management systems for the global commercial marine, pleasure craft and patrol boat markets. Other includes non-Twin Disc manufactured product sold through Company-owned distribution entities. The Company has two Information about the Company's segments, before intercompany eliminations, is summarized as follows: 2021 Manufacturing Distribution Total Net Sales $ 191,510 $ 100,221 $ 291,731 Intra-segment sales 9,436 14,746 24,182 Inter-segment sales 44,575 4,393 48,968 Interest income 172 17 189 Interest expense 2,449 1 2,450 Income taxes (980 ) 189 (791 ) Depreciation and amortization 10,455 412 10,867 Net income attributable to Twin Disc 11,016 105 11,121 Assets 364,379 46,956 411,335 Expenditures for segment assets 3,500 188 3,688 2020 Manufacturing Distribution Total Net Sales $ 227,565 $ 95,824 $ 323,389 Intra-segment sales 14,230 12,889 27,119 Inter-segment sales 43,854 5,578 49,432 Interest income 346 22 368 Interest expense 2,128 - 2,128 Income taxes (2,027 ) 268 (1,759 ) Depreciation and amortization 11,151 379 11,530 Net (loss) income attributable to Twin Disc (31,603 ) 553 (31,050 ) Assets 365,417 43,118 408,535 Expenditures for segment assets 9,615 734 10,349 The following is a reconciliation of reportable segment net sales and net income (loss) to the Company’s consolidated totals: 2021 2020 Net sales: Total net sales from reportable segments $ 291,731 $ 323,389 Elimination of inter-company sales (73,150 ) (76,551 ) Total consolidated net sales $ 218,581 $ 246,838 Net income (loss) attributable to Twin Disc: Total net income (loss) from reportable segments $ 11,121 $ (31,050 ) Other adjustments and corporate expenses (40,840 ) (8,767 ) Total consolidated net loss attributable to Twin Disc $ (29,719 ) $ (39,817 ) Corporate expenses pertain to certain costs that are not Other significant items: Segment Consolidated Totals Adjustments Totals 2021 Interest income $ 189 $ (170 ) $ 19 Interest expense 2,450 (92 ) 2,358 Income taxes (791 ) 20,471 19,680 Depreciation and amortization 10,867 376 11,243 Assets 411,335 (135,922 ) 275,413 Expenditures for segment assets 3,688 776 4,464 2020 Interest income $ 368 $ (290 ) $ 78 Interest expense 2,128 (268 ) 1,860 Income taxes (1,759 ) (2,410 ) (4,169 ) Depreciation and amortization 11,530 395 11,925 Assets 408,535 (114,408 ) 294,127 Expenditures for segment assets 10,349 350 10,699 All adjustments represent inter-company eliminations and corporate amounts. Geographic information about the Company is summarized as follows: 2021 2020 Net sales United States $ 64,344 $ 83,771 Netherlands 33,026 39,501 China 25,790 26,354 Australia 17,963 12,438 Italy 16,041 11,802 Austria 7,798 12,552 Other countries 53,619 60,420 Total $ 218,581 $ 246,838 Net sales by geographic region are based on product shipment destination. Long-lived assets primarily pertain to property, plant and equipment and exclude goodwill, other intangibles, and deferred income taxes. They are summarized as follows: Long-lived assets 2021 2020 United States $ 34,629 $ 41,996 Netherlands 12,447 12,659 Belgium 8,575 8,363 Italy 1,525 1,697 Switzerland 503 6,804 Other countries 5,776 5,205 Total $ 63,455 $ 76,724 There were no 10% 2021. one 10% 2020. Disaggregated revenue: The following tables present details deemed most relevant to the users of the financial statements for the years ended June 30, 2021 June 30, 2020. Net sales by product group for the year ended June 30, 2021 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 22,621 $ 5,494 $ (4,661 ) $ 23,454 Land-based transmissions 52,441 26,003 (20,023 ) 58,421 Marine and propulsion systems 116,371 59,276 (48,404 ) 127,243 Other 77 9,448 (62 ) 9,463 Total $ 191,510 $ 100,221 $ (73,150 ) $ 218,581 Net sales by product group for the year ended June 30, 2020 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 24,143 $ 5,634 $ (3,434 ) $ 26,343 Land-based transmissions 63,523 25,699 (26,525 ) 62,697 Marine and propulsion systems 139,833 59,212 (46,544 ) 152,501 Other 66 5,279 (48 ) 5,297 Total $ 227,565 $ 95,824 $ (76,551 ) $ 246,838

Note K - Stock-based Compensati

Note K - Stock-based Compensation	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	K. STOCK-BASED COMPENSATION In fiscal 2021, 2020 “2020 2020 2010 2020 may one 2020 may In fiscal 2019, 2018 “2018 2018 may one may In fiscal 2011, 2010 “2010 2010 “2010 may Shares available for future awards as of June 30 2021 2020 2020 Directors' Plan 666,913 - 2018 LTI Plan 103,289 492,591 Performance Stock Awards ( PSA ) In fiscal 2021 2020, The PSAs granted in fiscal 2021 three June 30, 2023. The PSAs granted in fiscal 2020 three June 30, 2022. not There were 388,433 and 167,848 unvested PSAs outstanding at June 30, 2021 2020, June 30, 2021 2020, June 30, 2021 2020, June 30, 2021 June 30, 2021, 2021 2020 2021 2020 Restricted Stock Awards ( RS ) The Company has unvested RS outstanding that will vest if certain service conditions are fulfilled. The fair value of the RS grants is recorded as compensation over the vesting period, which is generally 1 to 3 years. During fiscal 2021 2020, 2021 2020, June 30, 2021 2020, June 30, 2021 2020, June 30, 2021 2020, 2021 2020 June 30, 2021, three Restricted Stock Unit Awards ( RSU ) Under the 2018 three June 30, 2021 June 30, 2020, June 30, 2021 2020, June 30, 2021 2020, June 30, 2021 June 30, 2021,

Note L - Engineering and Develo

Note L - Engineering and Development Costs	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Research, Development, and Computer Software Disclosure [Text Block]	L. ENGINEERING AND DEVELOPMENT COSTS Engineering and development costs include research and development expenses for new products, development and major improvements to existing products, and other costs for ongoing efforts to refine existing products. Research and development costs charged to operations totaled $1,867 and $1,820 in fiscal 2021 2020, 2021 2020,

Note M - Pension and Other Post

Note M - Pension and Other Postretirement Benefit Plans	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Retirement Benefits [Text Block]	M. PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS The Company has non-contributory, qualified defined benefit pension plans covering substantially all domestic employees hired prior to October 1, 2003, January 1, 1997, January 1, 1997 July 31, 2009, In addition, the Company has unfunded, non-qualified retirement plans for certain management employees and Directors. In the case of management employees, benefits are based on an annual credit to a bookkeeping account, intended to restore the benefits that would have been earned under the qualified plans, but for the earnings limitations under the Internal Revenue Code. In the case of Directors, benefits are based on years of service on the Board. All benefits vest upon retirement from the Company. In addition to providing pension benefits, the Company provides other postretirement benefits, including healthcare and life insurance benefits for certain domestic retirees. All employees retiring after December 31, 1992, The measurement date for the Company’s pension and postretirement benefit plans in fiscal 2021 2020 June 30. Obligations and Funded Status The following table sets forth the Company's defined benefit pension plans’ and other postretirement benefit plans’ funded status and the amounts recognized in the Company's balance sheets and statement of operations and comprehensive loss as of June 30: Other Pension Postretirement Benefits Benefits 2021 2020 2021 2020 Change in benefit obligation: Benefit obligation, beginning of year $ 105,520 $ 107,322 $ 7,059 $ 7,451 Service cost 608 653 16 17 Interest cost 2,516 3,305 154 219 Prior service cost 65 - - - Actuarial (gain) loss (1,577 ) 3,161 (395 ) 211 Contributions by plan participants 114 93 269 352 Benefits paid (8,546 ) (9,014 ) (1,001 ) (1,191 ) Benefit obligation, end of year $ 98,700 $ 105,520 $ 6,102 $ 7,059 Change in plan assets: Fair value of assets, beginning of year $ 83,284 $ 87,291 $ - $ - Actual return on plan assets 15,325 3,541 - - Employer contribution 2,253 1,373 732 839 Contributions by plan participants 114 93 269 352 Benefits paid (8,546 ) (9,014 ) (1,001 ) (1,191 ) Fair value of assets, end of year $ 92,430 $ 83,284 $ - $ - Funded status $ (6,270 ) $ (22,236 ) $ (6,102 ) $ (7,059 ) Amounts recognized in the balance sheet consist of: Other assets - noncurrent $ 60 $ - $ - $ - Accrued liabilities - current (423 ) (276 ) (833 ) (1,081 ) Accrued retirement benefits - noncurrent (5,907 ) (21,960 ) (5,269 ) (5,978 ) Net amount recognized $ (6,270 ) $ (22,236 ) $ (6,102 ) $ (7,059 ) Amounts recognized in accumulated other comprehensive loss consist of (net of tax): Net transition obligation $ 133 $ 158 $ - $ - Prior service cost 94 104 (487 ) (697 ) Actuarial net loss 31,563 43,548 160 463 Net amount recognized $ 31,790 $ 43,810 $ (327 ) $ (234 ) The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year for the qualified defined benefit and other postretirement benefit plans are as follows: Other Pension Postretirement Benefits Benefits Net transition obligation $ 37 $ - Prior service cost 44 (275 ) Actuarial net loss 2,254 - Net amount to be recognized $ 2,335 $ (275 ) The accumulated benefit obligation for all defined benefit pension plans was approximately $98,700 and $105,520 at June 30, 2021 2020, Information for pension plans with an accumulated benefit obligation in excess of plan assets : June 30 2021 2020 Projected and accumulated benefit obligation $ 53,780 $ 105,520 Fair value of plan assets 47,450 83,284 Components of Net Periodic Benefit Cost: Pension Benefits 2021 2020 Service cost $ 615 $ 648 Interest cost 2,516 3,304 Prior service cost 65 - Expected return on plan assets (4,552 ) (4,894 ) Amortization of transition obligation 40 35 Amortization of prior service cost 47 45 Amortization of actuarial net loss 3,246 2,982 Net periodic benefit cost $ 1,977 $ 2,120 Other Postretirement Benefits 2021 2020 Service cost $ 16 $ 17 Interest cost 154 219 Amortization of prior service cost (274 ) (274 ) Net periodic benefit cost $ (104 ) $ (38 ) Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss for Fiscal 2021 Other Postretirement Pension Benefits Net loss $ (12,464 ) $ (397 ) Amortization of transition asset (40 ) - Amortization of prior service (cost) benefit (43 ) 275 Amortization of net loss (3,246 ) - Total recognized in other comprehensive income (15,793 ) (122 ) Net periodic benefit cost (benefit) 1,977 (104 ) Total recognized in net periodic benefit cost and other comprehensive income $ (13,816 ) $ (226 ) Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss for Fiscal 2020 Other Postretirement Pension Benefits Net loss $ 4,770 $ 211 Amortization of transition asset (35 ) - Amortization of prior service (cost) benefit (45 ) 275 Amortization of net loss (2,978 ) - Total recognized in other comprehensive income 1,712 486 Net periodic benefit cost (benefit) 2,120 (38 ) Total recognized in net periodic benefit cost and other comprehensive income $ 3,832 $ 448 Additional Information Assumptions Other Pension Benefits Postretirement Benefits Weighted average assumptions used to determine benefit obligations at June 30 2021 2020 2021 2020 Discount rate 2.63 % 2.49 % 2.47 % 2.37 % Expected return on plan assets 5.69 % 5.89 % Other Pension Benefits Postretirement Benefits Weighted average assumptions used to determine net periodic benefit costs for years ended June 30 2021 2020 2021 2020 Discount rate 2.49 % 3.22 % 2.37 % 3.15 % Expected return on plan assets 5.89 % 6.04 % The assumed weighted-average healthcare cost trend rate was 6.00% in 2021, 2025. Plan Assets The Company’s Benefits Committee (“Committee”), a non-board management committee, oversees investment matters related to the Company’s funded benefit plans. The Committee works with external actuaries and investment consultants on an ongoing basis to establish and monitor investment strategies and target asset allocations. The overall objective of the Committee’s investment strategy is to earn a rate of return over time to satisfy the benefit obligations of the pension plans and to maintain sufficient liquidity to pay benefits and address other cash requirements of the pension plans. The Committee has established an Investment Policy Statement which provides written documentation of the Company’s expectations regarding its investment programs for the pension plans, establishes objectives and guidelines for the investment of the plan assets consistent with the Company’s financial and benefit-related goals, and outlines criteria and procedures for the ongoing evaluation of the investment program. The Company employs a total return on investment approach whereby a mix of investments among several asset classes are used to maximize long-term return of plan assets while avoiding excessive risk. Investment risk is measured and monitored on an ongoing basis through quarterly investment portfolio reviews, and annual liability measurements. The Company’s pension plan weighted-average asset allocations at June 30, 2021 2020 Target June 30 Asset Category Allocation 2021 2020 Equity securities 51 % 53 % 47 % Debt securities 40 % 38 % 44 % Real estate 9 % 9 % 9 % 100 % 100 % 100 % Due to market conditions and other factors, actual asset allocation may June 30, 2021 June 30, 2020. The U.S. plans have a long-term return assumption of 5.90%. This rate was derived based upon historical experience and forward-looking return expectations for major asset class categories. The weighted average long-term return across all plans is 5.69%. Fair value is defined as the price that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The inputs used to measure fair value are classified into the following hierarchy: Level I Unadjusted quoted prices in active markets for identical instruments Level II Unadjusted quoted prices in active markets for similar instruments, or Unadjusted quoted prices for identical or similar instruments in markets that are not Other inputs that are observable in the market or can be corroborated by observable market data Level III Use of one The following table presents plan assets using the fair value hierarchy as of June 30, 2021: Total Level I Level II Level III Cash and cash equivalents $ 1,043 $ 1,043 $ - $ - Equity securities: Company common stock (a) 1,398 1,398 - - Common stock (a) 18,201 18,201 - - Mutual funds (b) 9,366 9,366 - - Annuity contracts (c) 6,646 - - 6,646 Total $ 36,654 $ 30,008 $ - $ 6,646 Investments Measured at Net Asset Value (d) 55,776 Total $ 92,430 The following table presents plan assets using the fair value hierarchy as of June 30, 2020: Total Level I Level II Level III Cash and cash equivalents $ 920 $ 920 $ - $ - Equity securities: Company common stock (a) 544 544 - - Common stock (a) 14,551 14,551 - - Mutual funds (b) 7,916 7,916 - - Annuity contracts (c) 6,095 - - 6,095 Total $ 30,026 $ 23,931 $ - $ 6,095 Investments Measured at Net Asset Value (d) 53,258 Total $ 83,284 (a) Common stock is valued at the closing price reported on the active market on which the individual securities are traded. These securities include U.S. equity securities invested in companies that are traded on exchanges inside the U.S. and international equity securities invested in companies that are traded on exchanges outside the U.S. (b) Mutual funds are valued at the daily closing price as reported by the fund. Mutual funds held by the Company’s funded benefit plans are open-end mutual funds that are registered with the Securities Exchange Commission. These funds are required to publish their daily net asset value (“NAV”) and to transact at that price. The mutual funds held by the Company’s funded benefit plans are deemed to be actively traded. (c) Annuity contracts represent contractual agreements in which payments are made to an insurance company, which agrees to pay out an income or lump sum amount at a later date. Annuity contracts are valued at fair value using the net present value of future cash flows. (d) In accordance with ASC 820 10, not The following table sets forth additional disclosures for the fair value measurement of the fair value of pension plan assets that calculate fair value based on NAV per share practical expedient as of June 30, 2021 June 30, 2020: 2021 2020 Fixed income funds $ 31,627 $ 33,032 International equity securities 4,282 2,840 Real estate 7,747 7,186 Hedged equity mutual funds 12,120 10,200 Total $ 55,776 $ 53,258 The following tables present a reconciliation of the fair value measurements using significant unobservable inputs (Level III) as of June 30, 2021 2020: 2021 2020 Beginning balance $ 6,095 $ 6,171 Actual return on plan assets: Relating to assets still held at reporting date 600 75 Purchases, sales and settlements, net (49 ) (151 ) Ending balance $ 6,646 $ 6,095 Cash Flows Contributions The Company expects to contribute $733 to its defined benefit pension plans in fiscal 2021. Estimated Future Benefit Payments The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: Other Pension Postretirement Benefits Benefits 2022 $ 8,535 $ 843 2023 7,794 769 2024 7,433 693 2025 7,095 608 2026 6,865 544 Years 2027 - 2031 31,435 2,042 The Company does not The Company sponsors defined contribution plans covering substantially all domestic employees and certain foreign employees. These plans provide for employer contributions based primarily on employee participation. The total expense under the plans was $2,162 and $1,949 in fiscal 2021 2020,

Note N - Income Taxes

Note N - Income Taxes	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	N. INCOME TAXES United States and foreign (loss) income before income taxes and minority interest were as follows: 2021 2020 United States $ (15,925 ) $ (29,332 ) Foreign 6,086 (14,408 ) $ (9,839 ) $ (43,740 ) The provision (benefit) for income taxes is comprised of the following: 2021 2020 Currently payable: Federal $ 28 $ (149 ) State 49 30 Foreign 1,948 4,022 2,025 3,903 Deferred: Federal 15,554 (5,673 ) State 2,341 (860 ) Foreign (240 ) (1,539 ) 17,655 (8,072 ) $ 19,680 $ (4,169 ) The components of the net deferred tax asset as of June 30 2021 2020 Deferred tax assets: Retirement plans and employee benefits $ 4,584 $ 7,934 Foreign tax credit carryforwards 7,609 7,429 Federal tax credits 1,801 1,585 State net operating loss and other state credit carryforwards 2,208 1,696 Federal net operating loss 6,506 1,607 Inventory - 205 Reserves 1,670 1,056 Foreign NOL carryforwards 66 555 Accruals 871 823 Right of use assets - operating leases 3,674 3,920 Disallowed interest 982 418 Disallowed PPP expenses - 1,320 Other assets 1,033 832 31,004 29,380 Valuation allowance (24,420 ) - 6,584 29,380 Deferred tax liabilities: Inventory 480 - Property, plant and equipment 1,852 3,231 Intangibles 2,982 3,306 Long term operating lease obligations 3,622 3,855 Other liabilities 182 44 9,118 10,436 Total net deferred tax (liabilities) assets $ (2,534 ) $ 18,944 At June 30, 2021 2023 2041. 2019 2026 2041. The Company maintains valuation allowances when it is more likely than not not not not not not 2021. Following is a reconciliation of the applicable U.S. federal income taxes to the actual income taxes reflected in the statements of operations: 2021 2020 U.S. federal income tax at 21% $ (2,066 ) $ (9,185 ) Increases (reductions) in tax resulting from: Foreign tax items 552 236 State taxes (440 ) (716 ) Change in prior year estimate (1,138 ) (213 ) Nondeductible PPP loan expenses (1,722 ) - Research and development tax credits (336 ) (412 ) Goodwill impairment - 4,814 Unrecognized tax benefits 59 9 Stock compensation 252 (93 ) Rate changes 18 237 Deferred tax basis adjustments 42 (138 ) GILTI inclusion - 1,220 Valuation allowance 24,420 - Other, net 39 72 $ 19,680 $ (4,169 ) On December 22, 2017, December 31, 2017, 2018. not 2019. 2019 Changes in the tax treatment of certain items have been reflected during the current quarter, chief among them the impact on the effective tax rate related to the non-taxable treatment of $8,200 of forgiven PPP loans included in net loss, as well as the impact of deferred employer Social Security tax payments. Executive Compensation Limitations: 162 162 $1,000 three not 2021 2020. Global Intangible Low Taxed Income ( GILTI ): 10% 2021. may 18.9%. zero 2021. 2020, Foreign Derived Intangible Income ( FDII ): not 2021 2020. The Company has not no June 30, 2021 June 30, 2020, 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 are 2017 2021 2017. The Company has approximately $778 and $918 of unrecognized tax benefits as of June 30, 2021 June 30, 2020, No 12 Below is a reconciliation of beginning and ending amount of unrecognized tax benefits as of June 30: 2021 2020 Unrecognized tax benefits, beginning of year $ 918 $ 938 Additions based on tax positions related to the prior year - 17 Additions based on tax positions related to the current year 66 87 Reductions based on tax positions related to the prior year (21 ) (19 ) Subtractions due to statutes closing - (105 ) Settlements with taxing authorities (185 ) - Unrecognized tax benefits, end of year $ 778 $ 918 Substantially all of the Company’s unrecognized tax benefits as of June 30, 3021, June 30, 2021 2020, not

Note O - Contingencies

Note O - Contingencies	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	O. CONTINGENCIES The Company is involved in litigation of which the ultimate outcome and liability to the Company, if any, are not not

Note P - Restructuring of Opera

Note P - Restructuring of Operations and Income From Extinguishment of Loan	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Restructuring, Impairment, and Other Activities Disclosure [Text Block]	P. RESTRUCTURING OF OPERATIONS AND INCOME FROM EXTINGUISHMENT OF LOAN Restructuring expenses The Company has implemented various restructuring programs in response to unfavorable macroeconomic trends in certain of the Company’s markets since the fourth 2015. fourth 2021, With regard to its Belgian operations, on June 30, 2021, December 2022. Total restructuring charges relating to streamlining operations amounted to $3,110 and $1,953 in fiscal 2021 2020, June 2015 June 30, 2021 Assets held for sale To improve its fixed cost structure and monetize some of its under-utilized assets, the Company commenced the active marketing of three fourth 2021. 3 On August 17, 2021, The following is a roll-forward of restructuring activity: Accrued restructuring liability, June 30, 2019 $ - Additions 5,138 Payments and adjustments (5,054 ) Accrued restructuring liability, June 30, 2020 84 Additions 7,377 Payments and adjustments (5,109 ) Accrued restructuring liability, June 30, 2021 $ 2,352 Income from extinguishment of loan As discussed in Note G, Debt, on June 16, 2021, 470 Debt 450 30 Gain contingency 2021.

Note Q - Earnings Per Share

Note Q - Earnings Per Share	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	Q. 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. Restricted stock award recipients under the 2010 two The components of basic and diluted earnings per share were as follows: 2021 2020 Basic: Net loss $ (29,519 ) $ (39,571 ) Less: Net earnings attributable to noncontrolling interest (200 ) (246 ) Less: Undistributed earnings attributable to unvested shares - - Net loss available to Twin Disc shareholders (29,719 ) (39,817 ) Weighted average shares outstanding - basic 13,247 13,153 Basic Loss Per Share: Net loss per share - basic $ (2.24 ) $ (3.03 ) Diluted: Net loss $ (29,519 ) $ (39,571 ) Less: Net earnings attributable to noncontrolling interest (200 ) (246 ) Less: Undistributed earnings attributable to unvested shares - - Net loss available to Twin Disc shareholders (29,719 ) (39,817 ) Weighted average shares outstanding - basic 13,247 13,153 Effect of dilutive stock awards - - Weighted average shares outstanding - diluted 13,247 13,153 Diluted Loss Per Share: Net loss per share - diluted $ (2.24 ) $ (3.03 ) The following potential common shares were excluded from diluted EPS for the year ended June 30, 2021 The following potential common shares were excluded from diluted EPS for the year ended June 30, 2020

Note R - Derivative Financial I

Note R - Derivative Financial Instruments	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	R. DERIVATIVE FINANCIAL INSTRUMENTS 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. As a global organization, the Company faces exposure to market risks, such as fluctuations in foreign currency exchange rates, interest rates and commodity prices. To manage the volatility relating to these exposures, the Company enters into various derivative instruments from time to time under its risk management policies. The Company designates derivative instruments as hedges on a transaction basis to support hedge accounting. The changes in fair value of these hedging instruments offset in part or in whole corresponding changes in the fair value or cash flows of the underlying exposures being hedged. The Company assesses the initial and ongoing effectiveness of its hedging relationships in accordance with its policy. The Company does not no Interest Rate Swaps Designated as Cash Flow Hedges 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 twelve Net unrealized after-tax losses related to cash flow hedging activities that were included in accumulated other comprehensive loss were $678 and $1,104 for the years ended June 30, 2021 2020, The Company estimates that $346 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 Derivatives Designated as Net Investment Hedges The Company is exposed to foreign currency exchange risk related to its investment in net assets in foreign countries. As discussed in Note G, Debt, during the fourth 2021, €13,000, June 30, 2021 2020, Foreign Currency Forward Contracts Not The Company primarily enters into forward exchange contracts to reduce the earnings and cash flow impact of non-functional currency denominated receivables and payables. These contracts are highly effective in hedging the cash flows attributable to changes in currency exchange rates. Gains and losses resulting from these contracts offset the foreign exchange gains or losses on the underlying assets and liabilities being hedged. The maturities of the forward exchange contracts generally coincide with the settlement dates of the related transactions. Gains and losses on these contracts are recorded in other expense, net in the consolidated statement of operations and comprehensive loss as the changes in the fair value of the contracts are recognized and generally offset the gains and losses on the hedged items in the same period. The primary currency to which the Company was exposed in fiscal 2021 2020 June 30, 2021 2020, no Other Derivative Instruments The Company does not not Fair Value of Derivative Instruments The Company’s interest rate swaps and foreign currency forward contracts are recorded at fair value on the consolidated balance sheets using a discounted cash flow analysis that incorporates observable market inputs. These market inputs include foreign currency spot and forward rates, and various interest rate curves, and are obtained from pricing data quoted by various banks, third 2 Counterparties to these foreign currency forward contracts have at least an investment grade rating. Credit ratings on some of the Company’s counterparties may As discussed in Note G, Debt, the Company's euro denominated Revolving Loan approximates fair value at June 30, 2021 June 30, 2020. 2 The fair value of derivative instruments included in the consolidated balance sheets at June 30 Balance Sheet Location 2021 2020 Derivatives designated as hedges: Interest rate swaps Accrued liabilities $ 346 $ 392 Interest rate swaps Other long-term liabilities 542 1,052 The impact of the Company’s derivative instruments on the consolidated statement of operations and comprehensive loss for the years ended June 30 Statement of Comprehensive Loss Location 2021 2020 Derivatives designated as hedges: Interest rate swap Interest expense $ 399 $ 171 Interest rate swap Unrealized gain (loss) on hedges 425 (595 ) Net investment hedge Unrealized gain (loss) on hedges 335 - Derivatives not designated as hedges: Foreign currency forward contracts Other income (expense), net $ (15 ) $ (9 )

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	TWIN DISC, INCORPORATED AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS For the years ended June 30, 2021 2020 Balance at Charged to Balance at Beginning Costs and End of Description of Period Expenses Adjustments (1) Period 2021: Allowance for losses on accounts receivable $ 1,740 $ 346 $ 216 $ 1,870 Reserve for inventory obsolescence $ 9,863 $ 1,178 $ 762 $ 10,279 Deferred tax valuation allowance $ - $ 24,420 $ - $ 24,420 2020: Allowance for losses on accounts receivable $ 1,582 $ 399 $ 241 $ 1,740 Reserve for inventory obsolescence $ 10,463 $ 1,532 $ 2,132 $ 9,863 ( 1

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Consolidation Principles 2021 2020, not
Use of Estimates, Policy [Policy Text Block]	Management Estimates--
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Translation of Foreign Currencies 2021 2020,
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash three not
Receivable [Policy Text Block]	Accounts Receivable June 30, 2021 2020, may may
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments . 1 2 June 30, 2021. June 30, 2021. 2
Derivatives, Policy [Policy Text Block]	Derivative Financial Instruments -
Inventory, Policy [Policy Text Block]	Inventories
Assets Held for Sale [Policy Text Block]	Assets Held for Sale-- Assets Held for Sale are carried at fair value less costs to sell, or net book value, whichever is lower. The Company ceases to record depreciation expense at the time of designation as held for sale. During fiscal 2021,
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment and Depreciation not
Lessee, Leases [Policy Text Block]	Right of Use Lease Assets-- 842, twelve 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 During fiscal 2021, 842 June 30, 2020. June 30, 2020 June 30, 2020 As Reported Impact Restated Property, plant and equipment, net $ 72,732 $ (14,448 ) $ 58,284 Right-of-use assets operating leases - 14,448 14,448 Lease obligations $ 13,495 $ (757 ) $ 12,738 Other long-term liabilities 2,605 757 3,362
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-lived Assets may not may third
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]	Intangible Assets
Income Tax, Policy [Policy Text Block]	Income Taxes not not not
Revenue [Policy Text Block]	Revenue Recognition five 1. identify the contract with a customer 2. identify the performance obligations in the contract 3. determine the transaction price 4. allocate the transaction price to the performance obligations in the contract 5. recognize revenue not not no Goods sold to third
Shipping and Handling, Fees and Costs [Policy Text Block]	Shipping and Handling Fees and Costs
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards a. In August 2018, 2018 13 820, Fair Value Measurement July 1, 2020. not b. In August 2018, 2018 14 July 1, 2020. not New Accounting Releases a. In June 2016, 2016 13 2018 19, 2019 04, 2019 05 2019 10 326 326 December 15, 2019, December 15, 2022 ( 2024 326 b. In December 2019, 2019 12 December 15, 2020 ( 2022 c. In March 2020 January 2021, 2020 04 2021 01, March 12, 2020, may December 31, 2022.
Reporting Status [Policy Text Block]	Special Note Regarding Smaller Reporting Company Status Under SEC Release 33 10513; 34 83550, second 2021.

Note A - Significant Accounti_2

Note A - Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]	June 30, 2020 June 30, 2020 As Reported Impact Restated Property, plant and equipment, net $ 72,732 $ (14,448 ) $ 58,284 Right-of-use assets operating leases - 14,448 14,448 Lease obligations $ 13,495 $ (757 ) $ 12,738 Other long-term liabilities 2,605 757 3,362

Note B - Inventories (Tables)

Note B - Inventories (Tables)	12 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	2021 2020 Finished parts $ 59,761 $ 62,394 Work in process 17,908 17,844 Raw materials 37,298 40,369 $ 114,967 $ 120,607

Note C - Property, Plant and _2

Note C - Property, Plant and Equipment (Tables)	12 Months Ended
	Jun. 30, 2021
Notes Tables
Property, Plant and Equipment [Table Text Block]	2021 2020 Land $ 3,858 $ 6,589 Buildings 30,317 48,168 Machinery and equipment 150,872 146,841 185,047 201,598 Less: accumulated depreciation (139,584 ) (143,314 ) $ 45,463 $ 58,284

Note D - Intangible Assets (Tab

Note D - Intangible Assets (Tables)	12 Months Ended
	Jun. 30, 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, 2019 $ 39,587 $ (14,434 ) $ 25,153 $ 14,843 $ 7,025 $ 2,733 $ 552 Addition 92 - 92 - - - 92 Amortization - (4,532 ) (4,532 ) (3,003 ) (1,139 ) (232 ) (158 ) Impairment - (1,306 ) (1,306 ) - - (1,080 ) (226 ) Translation adjustment (434 ) - (434 ) (286 ) (102 ) (33 ) (13 ) Balance at June 30, 2020 39,245 (20,272 ) 18,973 11,554 5,784 1,388 247 Addition 833 - 833 - - - 833 Amortization - (3,390 ) (3,390 ) (1,880 ) (1,226 ) (184 ) (100 ) Translation adjustment 1,064 - 1,064 647 325 78 14 Balance at June 30, 2021 $ 41,142 $ (23,662 ) $ 17,480 $ 10,321 $ 4,883 $ 1,282 $ 994
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Fiscal Year 2022 $ 3,316 2023 3,144 2024 2,988 2025 2,817 2026 1,427 Thereafter 3,788
Schedule of Goodwill [Table Text Block]	Net Book Value Rollforward Net Book Value By Reporting Unit Gross Carrying Amount Accumulated Impairment Net Book Value European Propulsion European Industrial Balance at June 30, 2019 $ 39,776 $ (13,822 ) $ 25,954 $ 23,371 $ 2,583 Impairment - (25,380 ) (25,380 ) (22,822 ) (2,558 ) Translation adjustment (574 ) - (574 ) (549 ) (25 ) Balance at June 30, 2020 39,202 (39,202 ) - - - Translation adjustment - - - - - Balance at June 30, 2021 $ 39,202 $ (39,202 ) $ - $ - $ -

Note E - Accrued Liabilities (T

Note E - Accrued Liabilities (Tables)	12 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	2021 2020 Customer deposits $ 13,124 $ 11,541 Salaries and wages 10,022 5,116 Warranty 3,448 3,520 Distributor rebates 3,190 3,769 Retirement benefits 1,769 3,559 Other 13,996 8,875 $ 45,549 $ 36,380

Note F - Warranty (Tables)

Note F - Warranty (Tables)	12 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	2021 2020 Reserve balance, July 1 $ 4,460 $ 3,736 Current period expense and adjustments 3,590 10,369 Payments or credits to customers (3,742 ) (9,629 ) Translation adjustment 61 (16 ) Reserve balance, June 30 $ 4,369 $ 4,460

Note G - Debt (Tables)

Note G - Debt (Tables)	12 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Debt [Table Text Block]	2021 2020 Credit Agreement Debt Revolving loans (expire June 2023) $ 15,415 $ 16,641 Term loan (due March 2026) 16,500 17,500 PPP loan - 8,200 Other 170 246 Subtotal 32,085 42,587 Less: current maturities (2,000 ) (4,691 ) Total long-term debt $ 30,085 $ 37,896
Schedule of Maturities of Long-term Debt [Table Text Block]	Fiscal Year 2022 $ 2,084 2023 17,461 2024 2,015 2025 2,000 2026 8,500 Thereafter 25 $ 32,085

Note H - Lease Obligations (Tab

Note H - Lease Obligations (Tables)	12 Months Ended
	Jun. 30, 2021
Notes Tables
Assets and Liabilities, Lessee [Table Text Block]	Balance Sheet Location 2021 2020 Lease Assets Operating lease right-of-use assets Right-of-use assets operating leases $ 14,736 $ 14,448 Finance lease right-of-use assets Property, plant and equipment, net 5,244 959 Lease Liabilities Operating lease liabilities Accrued liabilities $ 1,870 $ 1,724 Operating lease liabilities Lease obligations 12,887 12,738 Finance lease liabilities Accrued liabilities 541 233 Finance lease liabilities Other long-term liabilities 4,836 757
Lease, Cost [Table Text Block]	2021 2020 Finance lease cost: Amortization of right-of-use assets $ 580 $ 188 Interest on lease liabilities 273 56 Operating lease cost 2,795 3,137 Short-term lease cost 24 64 Variable lease cost 159 58 Total lease cost 3,831 3,503 Less: Sublease income (154 ) (212 ) Net lease cost $ 3,677 $ 3,291
Operating and Finance Leases, Other Disclosures [Table Text Block]	2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,022 $ 3,141 Operating cash flows from finance leases 480 167 Financing cash flows from finance leases 273 56 Right-of-use-assets obtained in exchange for lease obligations: Operating leases 1,481 2,757 Finance leases 4,814 592 Weighted average remaining lease term (years): Operating leases 9.8 10.7 Finance lease 12.0 4.0 Weighted average discount rate: Operating leases 7.2 % 7.4 % Finance leases 5.2 % 6.2 %
Schedule of Future Minimum Rental Payments for Operating Leases and Finance Lease, Liability, Maturity [Table Text Block]	Operating Leases Finance Leases 2022 $ 2,898 $ 805 2023 2,600 796 2024 2,256 752 2025 1,663 507 2026 1,575 434 Thereafter 9,989 3,879 Total future lease payments 20,981 7,173 Less: Amount representing interest (6,224 ) (1,796 ) Present value of future payments $ 14,757 $ 5,377

Note I - Shareholders' Equity (

Note I - Shareholders' Equity (Tables)	12 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Stockholders Equity [Table Text Block]	2021 2020 Translation adjustments $ 9,192 $ 3,454 Net loss on cash flow hedge derivatives, net of income taxes of $211 $341 (678 ) (1,104 ) Net gain on net investment hedge derivatives, net of income taxes of $103 $0 334 - Benefit plan adjustments, net of income taxes of $9,537 $13,316 (31,463 ) (43,576 ) Accumulated other comprehensive loss $ (22,615 ) $ (41,226 )
Reconciliation For The Changes In Accumulated Other Comprehensive Income Loss Net Of Tax By Component [Table Text Block]	Translation Benefit Plan Cash Flow Net Investment Adjustment Adjustment Hedges Hedges Balance at June 30, 2020 $ 3,454 $ (43,576 ) $ (1,104 ) $ - Other comprehensive loss before reclassifications 5,738 9,783 426 334 Amounts reclassified from accumulated other comprehensive loss - 2,330 - - Net current period other comprehensive income 5,738 12,113 426 334 Balance at June 30, 2021 $ 9,192 $ (31,463 ) $ (678 ) $ 334 Translation Benefit Plan Cash Flow Adjustment Adjustment Hedges Balance at June 30, 2019 $ 4,439 $ (41,901 ) $ (509 ) Other comprehensive loss before reclassifications (985 ) (3,792 ) (595 ) Amounts reclassified from accumulated other comprehensive loss - 2,117 - Net current period other comprehensive loss (985 ) (1,675 ) (595 ) Balance at June 30, 2020 $ 3,454 $ (43,576 ) $ (1,104 )
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amount Reclassified Amortization of benefit plan items Actuarial losses $ (3,246 ) Transition asset and prior service benefit 187 Total before tax benefit (3,059 ) Tax benefit 729 Total reclassification net of tax $ (2,330 ) Amount Reclassified Amortization of benefit plan items Actuarial losses $ (2,982 ) Transition asset and prior service benefit 195 Total before tax benefit (2,787 ) Tax benefit 670 Total reclassification net of tax $ (2,117 )

Note J - Business Segments an_2

Note J - Business Segments and Foreign Operations (Tables)	12 Months Ended
	Jun. 30, 2021
Notes Tables
Revenue from External Customers by Products and Services [Table Text Block]	2021 2020 Industrial $ 23,454 $ 26,343 Land-based transmissions 58,421 62,697 Marine and propulsion systems 127,243 152,501 Other 9,463 5,297 Total $ 218,581 $ 246,838 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 22,621 $ 5,494 $ (4,661 ) $ 23,454 Land-based transmissions 52,441 26,003 (20,023 ) 58,421 Marine and propulsion systems 116,371 59,276 (48,404 ) 127,243 Other 77 9,448 (62 ) 9,463 Total $ 191,510 $ 100,221 $ (73,150 ) $ 218,581 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 24,143 $ 5,634 $ (3,434 ) $ 26,343 Land-based transmissions 63,523 25,699 (26,525 ) 62,697 Marine and propulsion systems 139,833 59,212 (46,544 ) 152,501 Other 66 5,279 (48 ) 5,297 Total $ 227,565 $ 95,824 $ (76,551 ) $ 246,838
Schedule of Segment Reporting Information, by Segment [Table Text Block]	2021 Manufacturing Distribution Total Net Sales $ 191,510 $ 100,221 $ 291,731 Intra-segment sales 9,436 14,746 24,182 Inter-segment sales 44,575 4,393 48,968 Interest income 172 17 189 Interest expense 2,449 1 2,450 Income taxes (980 ) 189 (791 ) Depreciation and amortization 10,455 412 10,867 Net income attributable to Twin Disc 11,016 105 11,121 Assets 364,379 46,956 411,335 Expenditures for segment assets 3,500 188 3,688 2020 Manufacturing Distribution Total Net Sales $ 227,565 $ 95,824 $ 323,389 Intra-segment sales 14,230 12,889 27,119 Inter-segment sales 43,854 5,578 49,432 Interest income 346 22 368 Interest expense 2,128 - 2,128 Income taxes (2,027 ) 268 (1,759 ) Depreciation and amortization 11,151 379 11,530 Net (loss) income attributable to Twin Disc (31,603 ) 553 (31,050 ) Assets 365,417 43,118 408,535 Expenditures for segment assets 9,615 734 10,349
Reconciliation of Revenue and Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	2021 2020 Net sales: Total net sales from reportable segments $ 291,731 $ 323,389 Elimination of inter-company sales (73,150 ) (76,551 ) Total consolidated net sales $ 218,581 $ 246,838 Net income (loss) attributable to Twin Disc: Total net income (loss) from reportable segments $ 11,121 $ (31,050 ) Other adjustments and corporate expenses (40,840 ) (8,767 ) Total consolidated net loss attributable to Twin Disc $ (29,719 ) $ (39,817 )
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]	Segment Consolidated Totals Adjustments Totals 2021 Interest income $ 189 $ (170 ) $ 19 Interest expense 2,450 (92 ) 2,358 Income taxes (791 ) 20,471 19,680 Depreciation and amortization 10,867 376 11,243 Assets 411,335 (135,922 ) 275,413 Expenditures for segment assets 3,688 776 4,464 2020 Interest income $ 368 $ (290 ) $ 78 Interest expense 2,128 (268 ) 1,860 Income taxes (1,759 ) (2,410 ) (4,169 ) Depreciation and amortization 11,530 395 11,925 Assets 408,535 (114,408 ) 294,127 Expenditures for segment assets 10,349 350 10,699
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	2021 2020 Net sales United States $ 64,344 $ 83,771 Netherlands 33,026 39,501 China 25,790 26,354 Australia 17,963 12,438 Italy 16,041 11,802 Austria 7,798 12,552 Other countries 53,619 60,420 Total $ 218,581 $ 246,838 Long-lived assets 2021 2020 United States $ 34,629 $ 41,996 Netherlands 12,447 12,659 Belgium 8,575 8,363 Italy 1,525 1,697 Switzerland 503 6,804 Other countries 5,776 5,205 Total $ 63,455 $ 76,724

Note K - Stock-based Compensa_2

Note K - Stock-based Compensation (Tables)	12 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule Of Share-based Compensation Shares Available For Future Options [Table Text Block]	2021 2020 2020 Directors' Plan 666,913 - 2018 LTI Plan 103,289 492,591

Note M - Pension and Other Po_2

Note M - Pension and Other Postretirement Benefit Plans (Tables)	12 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Net Funded Status [Table Text Block]	Other Pension Postretirement Benefits Benefits 2021 2020 2021 2020 Change in benefit obligation: Benefit obligation, beginning of year $ 105,520 $ 107,322 $ 7,059 $ 7,451 Service cost 608 653 16 17 Interest cost 2,516 3,305 154 219 Prior service cost 65 - - - Actuarial (gain) loss (1,577 ) 3,161 (395 ) 211 Contributions by plan participants 114 93 269 352 Benefits paid (8,546 ) (9,014 ) (1,001 ) (1,191 ) Benefit obligation, end of year $ 98,700 $ 105,520 $ 6,102 $ 7,059 Change in plan assets: Fair value of assets, beginning of year $ 83,284 $ 87,291 $ - $ - Actual return on plan assets 15,325 3,541 - - Employer contribution 2,253 1,373 732 839 Contributions by plan participants 114 93 269 352 Benefits paid (8,546 ) (9,014 ) (1,001 ) (1,191 ) Fair value of assets, end of year $ 92,430 $ 83,284 $ - $ - Funded status $ (6,270 ) $ (22,236 ) $ (6,102 ) $ (7,059 ) Amounts recognized in the balance sheet consist of: Other assets - noncurrent $ 60 $ - $ - $ - Accrued liabilities - current (423 ) (276 ) (833 ) (1,081 ) Accrued retirement benefits - noncurrent (5,907 ) (21,960 ) (5,269 ) (5,978 ) Net amount recognized $ (6,270 ) $ (22,236 ) $ (6,102 ) $ (7,059 ) Amounts recognized in accumulated other comprehensive loss consist of (net of tax): Net transition obligation $ 133 $ 158 $ - $ - Prior service cost 94 104 (487 ) (697 ) Actuarial net loss 31,563 43,548 160 463 Net amount recognized $ 31,790 $ 43,810 $ (327 ) $ (234 )
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]	Other Pension Postretirement Benefits Benefits Net transition obligation $ 37 $ - Prior service cost 44 (275 ) Actuarial net loss 2,254 - Net amount to be recognized $ 2,335 $ (275 )
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]	June 30 2021 2020 Projected and accumulated benefit obligation $ 53,780 $ 105,520 Fair value of plan assets 47,450 83,284
Schedule of Net Benefit Costs [Table Text Block]	Pension Benefits 2021 2020 Service cost $ 615 $ 648 Interest cost 2,516 3,304 Prior service cost 65 - Expected return on plan assets (4,552 ) (4,894 ) Amortization of transition obligation 40 35 Amortization of prior service cost 47 45 Amortization of actuarial net loss 3,246 2,982 Net periodic benefit cost $ 1,977 $ 2,120 Other Postretirement Benefits 2021 2020 Service cost $ 16 $ 17 Interest cost 154 219 Amortization of prior service cost (274 ) (274 ) Net periodic benefit cost $ (104 ) $ (38 )
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]	Other Postretirement Pension Benefits Net loss $ (12,464 ) $ (397 ) Amortization of transition asset (40 ) - Amortization of prior service (cost) benefit (43 ) 275 Amortization of net loss (3,246 ) - Total recognized in other comprehensive income (15,793 ) (122 ) Net periodic benefit cost (benefit) 1,977 (104 ) Total recognized in net periodic benefit cost and other comprehensive income $ (13,816 ) $ (226 ) Other Postretirement Pension Benefits Net loss $ 4,770 $ 211 Amortization of transition asset (35 ) - Amortization of prior service (cost) benefit (45 ) 275 Amortization of net loss (2,978 ) - Total recognized in other comprehensive income 1,712 486 Net periodic benefit cost (benefit) 2,120 (38 ) Total recognized in net periodic benefit cost and other comprehensive income $ 3,832 $ 448
Defined Benefit Plan, Assumptions [Table Text Block]	Other Pension Benefits Postretirement Benefits Weighted average assumptions used to determine benefit obligations at June 30 2021 2020 2021 2020 Discount rate 2.63 % 2.49 % 2.47 % 2.37 % Expected return on plan assets 5.69 % 5.89 % Other Pension Benefits Postretirement Benefits Weighted average assumptions used to determine net periodic benefit costs for years ended June 30 2021 2020 2021 2020 Discount rate 2.49 % 3.22 % 2.37 % 3.15 % Expected return on plan assets 5.89 % 6.04 %
Schedule of Plan Weighted Average Assets Allocations [Table Text Block]	Target June 30 Asset Category Allocation 2021 2020 Equity securities 51 % 53 % 47 % Debt securities 40 % 38 % 44 % Real estate 9 % 9 % 9 % 100 % 100 % 100 %
Schedule of Allocation of Plan Assets [Table Text Block]	Total Level I Level II Level III Cash and cash equivalents $ 1,043 $ 1,043 $ - $ - Equity securities: Company common stock (a) 1,398 1,398 - - Common stock (a) 18,201 18,201 - - Mutual funds (b) 9,366 9,366 - - Annuity contracts (c) 6,646 - - 6,646 Total $ 36,654 $ 30,008 $ - $ 6,646 Investments Measured at Net Asset Value (d) 55,776 Total $ 92,430 Total Level I Level II Level III Cash and cash equivalents $ 920 $ 920 $ - $ - Equity securities: Company common stock (a) 544 544 - - Common stock (a) 14,551 14,551 - - Mutual funds (b) 7,916 7,916 - - Annuity contracts (c) 6,095 - - 6,095 Total $ 30,026 $ 23,931 $ - $ 6,095 Investments Measured at Net Asset Value (d) 53,258 Total $ 83,284 2021 2020 Fixed income funds $ 31,627 $ 33,032 International equity securities 4,282 2,840 Real estate 7,747 7,186 Hedged equity mutual funds 12,120 10,200 Total $ 55,776 $ 53,258
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]	2021 2020 Beginning balance $ 6,095 $ 6,171 Actual return on plan assets: Relating to assets still held at reporting date 600 75 Purchases, sales and settlements, net (49 ) (151 ) Ending balance $ 6,646 $ 6,095
Schedule of Expected Benefit Payments [Table Text Block]	Other Pension Postretirement Benefits Benefits 2022 $ 8,535 $ 843 2023 7,794 769 2024 7,433 693 2025 7,095 608 2026 6,865 544 Years 2027 - 2031 31,435 2,042

Note N - Income Taxes (Tables)

Note N - Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]	2021 2020 United States $ (15,925 ) $ (29,332 ) Foreign 6,086 (14,408 ) $ (9,839 ) $ (43,740 )
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	2021 2020 Currently payable: Federal $ 28 $ (149 ) State 49 30 Foreign 1,948 4,022 2,025 3,903 Deferred: Federal 15,554 (5,673 ) State 2,341 (860 ) Foreign (240 ) (1,539 ) 17,655 (8,072 ) $ 19,680 $ (4,169 )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2021 2020 Deferred tax assets: Retirement plans and employee benefits $ 4,584 $ 7,934 Foreign tax credit carryforwards 7,609 7,429 Federal tax credits 1,801 1,585 State net operating loss and other state credit carryforwards 2,208 1,696 Federal net operating loss 6,506 1,607 Inventory - 205 Reserves 1,670 1,056 Foreign NOL carryforwards 66 555 Accruals 871 823 Right of use assets - operating leases 3,674 3,920 Disallowed interest 982 418 Disallowed PPP expenses - 1,320 Other assets 1,033 832 31,004 29,380 Valuation allowance (24,420 ) - 6,584 29,380 Deferred tax liabilities: Inventory 480 - Property, plant and equipment 1,852 3,231 Intangibles 2,982 3,306 Long term operating lease obligations 3,622 3,855 Other liabilities 182 44 9,118 10,436 Total net deferred tax (liabilities) assets $ (2,534 ) $ 18,944
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2021 2020 U.S. federal income tax at 21% $ (2,066 ) $ (9,185 ) Increases (reductions) in tax resulting from: Foreign tax items 552 236 State taxes (440 ) (716 ) Change in prior year estimate (1,138 ) (213 ) Nondeductible PPP loan expenses (1,722 ) - Research and development tax credits (336 ) (412 ) Goodwill impairment - 4,814 Unrecognized tax benefits 59 9 Stock compensation 252 (93 ) Rate changes 18 237 Deferred tax basis adjustments 42 (138 ) GILTI inclusion - 1,220 Valuation allowance 24,420 - Other, net 39 72 $ 19,680 $ (4,169 )
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	2021 2020 Unrecognized tax benefits, beginning of year $ 918 $ 938 Additions based on tax positions related to the prior year - 17 Additions based on tax positions related to the current year 66 87 Reductions based on tax positions related to the prior year (21 ) (19 ) Subtractions due to statutes closing - (105 ) Settlements with taxing authorities (185 ) - Unrecognized tax benefits, end of year $ 778 $ 918

Note P - Restructuring of Ope_2

Note P - Restructuring of Operations and Income From Extinguishment of Loan (Tables)	12 Months Ended
	Jun. 30, 2021
Notes Tables
Restructuring and Related Costs [Table Text Block]	Accrued restructuring liability, June 30, 2019 $ - Additions 5,138 Payments and adjustments (5,054 ) Accrued restructuring liability, June 30, 2020 84 Additions 7,377 Payments and adjustments (5,109 ) Accrued restructuring liability, June 30, 2021 $ 2,352

Note Q - Earnings Per Share (Ta

Note Q - Earnings Per Share (Tables)	12 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	2021 2020 Basic: Net loss $ (29,519 ) $ (39,571 ) Less: Net earnings attributable to noncontrolling interest (200 ) (246 ) Less: Undistributed earnings attributable to unvested shares - - Net loss available to Twin Disc shareholders (29,719 ) (39,817 ) Weighted average shares outstanding - basic 13,247 13,153 Basic Loss Per Share: Net loss per share - basic $ (2.24 ) $ (3.03 ) Diluted: Net loss $ (29,519 ) $ (39,571 ) Less: Net earnings attributable to noncontrolling interest (200 ) (246 ) Less: Undistributed earnings attributable to unvested shares - - Net loss available to Twin Disc shareholders (29,719 ) (39,817 ) Weighted average shares outstanding - basic 13,247 13,153 Effect of dilutive stock awards - - Weighted average shares outstanding - diluted 13,247 13,153 Diluted Loss Per Share: Net loss per share - diluted $ (2.24 ) $ (3.03 )

Note R - Derivative Financial_2

Note R - Derivative Financial Instruments (Tables)	12 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	Balance Sheet Location 2021 2020 Derivatives designated as hedges: Interest rate swaps Accrued liabilities $ 346 $ 392 Interest rate swaps Other long-term liabilities 542 1,052
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]	Statement of Comprehensive Loss Location 2021 2020 Derivatives designated as hedges: Interest rate swap Interest expense $ 399 $ 171 Interest rate swap Unrealized gain (loss) on hedges 425 (595 ) Net investment hedge Unrealized gain (loss) on hedges 335 - Derivatives not designated as hedges: Foreign currency forward contracts Other income (expense), net $ (15 ) $ (9 )

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Jun. 30, 2021
Notes Tables
Valuation Allowances and Reserves [Table Text Block]	Balance at Charged to Balance at Beginning Costs and End of Description of Period Expenses Adjustments (1) Period 2021: Allowance for losses on accounts receivable $ 1,740 $ 346 $ 216 $ 1,870 Reserve for inventory obsolescence $ 9,863 $ 1,178 $ 762 $ 10,279 Deferred tax valuation allowance $ - $ 24,420 $ - $ 24,420 2020: Allowance for losses on accounts receivable $ 1,582 $ 399 $ 241 $ 1,740 Reserve for inventory obsolescence $ 10,463 $ 1,532 $ 2,132 $ 9,863

Note A - Significant Accounti_3

Note A - Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Foreign Currency Transaction Gain (Loss), before Tax, Total	$ (2,108)	$ (570)
Accounts Receivable, Allowance for Credit Loss, Ending Balance	1,870	$ 1,740
Impairment of Long-Lived Assets to be Disposed of	$ 4,267
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	10 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	40 years
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	15 years

Note A - Significant Accounti_4

Note A - Significant Accounting Policies - Restatement (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Property, plant and equipment, net	$ 45,463	$ 58,284
Right-of-use assets operating leases	14,736	14,448
Operating lease liabilities	12,887	12,738
Other long-term liabilities	$ 7,000	3,362
Previously Reported [Member]
Property, plant and equipment, net		72,732
Right-of-use assets operating leases		0
Operating lease liabilities		13,495
Other long-term liabilities		2,605
Revision of Prior Period, Error Correction, Adjustment [Member]
Property, plant and equipment, net		(14,448)
Right-of-use assets operating leases		14,448
Operating lease liabilities		(757)
Other long-term liabilities		$ 757

Note B - Inventories (Details T

Note B - Inventories (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Percentage of LIFO Inventory	45.00%	50.00%
Excess of Replacement or Current Costs over Stated LIFO Value	$ 25,969	$ 27,225
Effect of LIFO Inventory Liquidation on Income	1,105	0
Inventory Valuation Reserves, Ending Balance	$ 10,279	$ 9,863

Note B - Inventories - Inventor

Note B - Inventories - Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Finished parts	$ 59,761	$ 62,394
Work in process	17,908	17,844
Raw materials	37,298	40,369
Total inventories	$ 114,967	$ 120,607

Note C - Property, Plant and _3

Note C - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Finance Lease, Right-of-Use Asset, after Accumulated Amortization, Total	$ 5,244	$ 959
Depreciation, Total	$ 7,853	$ 7,394

Note C - Property, Plant and _4

Note C - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Land	$ 3,858	$ 6,589
Buildings	30,317	48,168
Machinery and equipment	150,872	146,841
Property, plant and Equipment, Gross	185,047	201,598
Less: accumulated depreciation	(139,584)	(143,314)
Property, plant and Equipment, Net	$ 45,463	$ 58,284

Note D - Intangible Assets (Det

Note D - Intangible Assets (Details Textual) $ in Thousands	Mar. 27, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year)		7 years
Amortization of Intangible Assets, Total		$ 3,390	$ 4,532
Goodwill, Ending Balance	$ 25,380	0	0	$ 25,954
Goodwill, Impairment Loss	$ 25,380		25,380
Impairment of Intangible Assets (Excluding Goodwill), Total			2,223
Goodwill and Intangible Asset Impairment, Total		$ 0	27,603
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Goodwill and Other Impairment Charge, Amount			$ 1,199
Measurement Input, Discount Rate [Member]
Goodwill, Measurement Input	0.130

Note D - Intangible Assets - In

Note D - Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Balance, Definite Intangible Assets Gross Carrying Amount	$ 39,245	$ 39,587
Balance, Definite Intangible Assets Accumulated Amortization/Impairment	(20,272)	(14,434)
Balance at June 30, Definite Intangible Assets Net Book Value	18,973	25,153
Addition, Definite Intangible Assets Gross Carrying Amount	833	92
Addition, Definite Intangible Assets Net Book Value	833	92
Amortization, Intangible Asset	(3,390)	(4,532)
Impairment, Intangible Asset		(1,306)
Translation adjustment, Definite Intangible Assets Gross Carrying Amount	1,064	(434)
Translation adjustment, Definite Intangible Assets Net Book Value	1,064	(434)
Balance, Definite Intangible Assets Gross Carrying Amount	41,142	39,245
Balance, Definite Intangible Assets Accumulated Amortization/Impairment	(23,662)	(20,272)
Balance at June 30, Definite Intangible Assets Net Book Value	17,480	18,973
Customer Relationships [Member]
Balance at June 30, Definite Intangible Assets Net Book Value	11,554	14,843
Addition, Definite Intangible Assets Net Book Value	0	0
Amortization, Intangible Asset	(1,880)	(3,003)
Impairment, Intangible Asset		0
Translation adjustment, Definite Intangible Assets Net Book Value	647	(286)
Balance at June 30, Definite Intangible Assets Net Book Value	10,321	11,554
Technology-Based Intangible Assets [Member]
Balance at June 30, Definite Intangible Assets Net Book Value	5,784	7,025
Addition, Definite Intangible Assets Net Book Value	0	0
Amortization, Intangible Asset	(1,226)	(1,139)
Impairment, Intangible Asset		0
Translation adjustment, Definite Intangible Assets Net Book Value	325	(102)
Balance at June 30, Definite Intangible Assets Net Book Value	4,883	5,784
Trade Names [Member]
Balance at June 30, Definite Intangible Assets Net Book Value	1,388	2,733
Addition, Definite Intangible Assets Net Book Value	0	0
Amortization, Intangible Asset	(184)	(232)
Impairment, Intangible Asset		(1,080)
Translation adjustment, Definite Intangible Assets Net Book Value	78	(33)
Balance at June 30, Definite Intangible Assets Net Book Value	1,282	1,388
Other Intangible Assets [Member]
Balance at June 30, Definite Intangible Assets Net Book Value	247	552
Addition, Definite Intangible Assets Net Book Value	833	92
Amortization, Intangible Asset	(100)	(158)
Impairment, Intangible Asset		(226)
Translation adjustment, Definite Intangible Assets Net Book Value	14	(13)
Balance at June 30, Definite Intangible Assets Net Book Value	$ 994	$ 247

Note D - Intangible Assets - Es

Note D - Intangible Assets - Estimated Intangibles Amortization Expense (Details) $ in Thousands	Jun. 30, 2021USD ($)
2022	$ 3,316
2023	3,144
2024	2,988
2025	2,817
2026	1,427
Thereafter	$ 3,788

Note D - Intangible Assets - Go

Note D - Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	Mar. 27, 2020	Jun. 30, 2021	Jun. 30, 2020
Balance, goodwill gross carrying amount		$ 39,202	$ 39,776
Balance, goodwill accumulated impairment		(39,202)	(13,822)
Balance, goodwill net book value		0	25,954
Impairment, goodwill accumulated impairment	$ (25,380)		(25,380)
Translation adjustment, goodwill gross carrying amount		0	(574)
Translation adjustment, goodwill net book value		0	(574)
Balance, goodwill gross carrying amount		39,202	39,202
Balance, goodwill accumulated impairment		(39,202)	(39,202)
Balance at June 30, 2020	$ 25,380	0	0
European Propulsion [Member]
Balance, goodwill net book value		0	23,371
Impairment, goodwill accumulated impairment			(22,822)
Translation adjustment, goodwill gross carrying amount		0	(549)
Translation adjustment, goodwill net book value		0	(549)
Balance at June 30, 2020		0	0
European Industrial [Member]
Balance, goodwill net book value		0	2,583
Impairment, goodwill accumulated impairment			(2,558)
Translation adjustment, goodwill gross carrying amount		0	(25)
Translation adjustment, goodwill net book value		0	(25)
Balance at June 30, 2020		$ 0	$ 0

Note E - Accrued Liabilities -

Note E - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Customer deposits	$ 13,124	$ 11,541
Salaries and wages	10,022	5,116
Warranty	3,448	3,520
Distributor rebates	3,190	3,769
Retirement benefits	1,769	3,559
Other	13,996	8,875
Total accrued liabilities	$ 45,549	$ 36,380

Note F - Warranty (Details Text

Note F - Warranty (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Standard and Extended Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties, Total		$ 6,233
Product Warranty Accrual, Current	$ 3,448	3,520
Product Warranty Accrual, Noncurrent	$ 921	$ 940
Minimum [Member]
Warranty Period (Month)	12 months
Maximum [Member]
Warranty Period (Month)	24 months

Note F - Warranty - Warranty (D

Note F - Warranty - Warranty (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Reserve balance, July 1	$ 4,460	$ 3,736
Current period expense and adjustments	3,590	10,369
Payments or credits to customers	(3,742)	(9,629)
Translation adjustment	61	(16)
Reserve balance, June 30	$ 4,369	$ 4,460

Note G - Debt (Details Textual)

Note G - Debt (Details Textual)	Jul. 22, 2020USD ($)	Apr. 17, 2020USD ($)	Jan. 28, 2020USD ($)	Mar. 04, 2019USD ($)	Sep. 25, 2018USD ($)	Jul. 02, 2018USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2021	Mar. 26, 2021USD ($)	Jan. 27, 2021USD ($)	Jan. 26, 2021USD ($)	Dec. 25, 2020USD ($)	Sep. 25, 2020	Mar. 27, 2020	Dec. 27, 2019	Dec. 26, 2019	Mar. 03, 2019USD ($)	Jun. 29, 2018USD ($)
Proceeds from Long-term Lines of Credit							$ 76,335,000	$ 99,262,000
Gain (Loss) on Extinguishment of Debt, Total							8,200,000	0
Proceeds from Sale Leaseback Agreement									$ 329,000
Principal Paid on Sale Leaseback Liabilities							91,000
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%
Prior Parent of Veth Propulsion [Member]
Repayments of Debt						$ 1,865,000
Bank of Montreal [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative, Notional Amount							15,500,000
Veth Propulsion [Member]
Payments to Acquire Businesses, Gross						58,862,000
Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity							$ 1,535,000	$ 943,000
Debt, Weighted Average Interest Rate							5.60%	5.60%
The 2018 Credit Agreement [Member]
Repayments of Debt					$ 32,210,000
Paycheck Protection Program CARES Act [Member] | Promissory Note [Member]
Proceeds from Issuance of Long-term Debt, Total		$ 8,200,000
Gain (Loss) on Extinguishment of Debt, Total							$ 8,200,000
BMO [Member] | The 2018 Credit Agreement [Member]
Line of Credit Facility, Maximum Borrowing Capacity												$ 42,500	$ 45,000
Proceeds from Issuance of Debt						60,729,000
Debt Instrument, Covenant, Minimum Cumulative EBITDA							$ 10,000,000	$ 1,000,000			$ 6,000,000			$ 2,500,000
Debt Instrument, Percentage of Equity Interest in Domestic Subsidiaries Pledged	100.00%
Debt Instrument, Percentage of Equity Interest in Foreign Subsidiaries Pledged	65.00%
Debt Instrument, Debt Default, Percentage of Letter of Credit Obligations Required to Cash Collateralize	105.00%
BMO [Member] | The 2018 Credit Agreement [Member] | Forecast [Member]
Debt Instrument, Covenant, Allowable Ratio, Current Quarter										3
BMO [Member] | The 2018 Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate			1.25%
BMO [Member] | The 2018 Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate			3.375%
BMO [Member] | The 2018 Credit Agreement [Member] | Term Loan [Member]
Debt Agreement, Maximum Borrowing Capacity				$ 20,000,000
Proceeds from Issuance of Debt				9,151,000		35,000,000
Long-term Debt, Gross																			$ 10,849,000
Debt Instrument, Periodic Payment, Total				$ 500,000
Debt Instrument, Covenant, Funded Debt to EBITDA Ratio				3
Debt Instrument, Covenant, Minimum Tangible Net Worth Plus Half of Net Income				$ 100,000,000															$ 70,000,000
Debt Instrument, Principal Payment Deferred	$ 1,000,000
Debt Instrument, Interest Rate During Period							4.01%
BMO [Member] | The 2018 Credit Agreement [Member] | Term Loan [Member] | Minimum [Member]
Debt Instrument, Covenant, Funded Debt to EBITDA Ratio																			3.50
BMO [Member] | The 2018 Credit Agreement [Member] | Term Loan [Member] | Maximum [Member]
Debt Instrument, Covenant, Funded Debt to EBITDA Ratio																			3.25
BMO [Member] | The 2018 Credit Agreement [Member] | Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate				3.00%
BMO [Member] | The 2018 Credit Agreement [Member] | Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate				1.375%
BMO [Member] | The 2018 Credit Agreement [Member] | Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	3.875%		3.375%	2.375%
BMO [Member] | The 2018 Credit Agreement [Member] | Revolving Credit Facility [Member]
Debt Agreement, Maximum Borrowing Capacity																				$ 35,000,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 45,000,000																			$ 50,000,000
Proceeds from Long-term Lines of Credit						$ 25,729,000
Debt Instrument, Interest Rate During Period							4.25%
Line of Credit Facility, Current Borrowing Capacity							$ 43,795,000
Line of Credit Facility, Remaining Borrowing Capacity							$ 27,085,000
BMO [Member] | The 2018 Credit Agreement Amendment [Member]
Debt Instrument, Covenant, Maximum Allowable Extraordinary Expenses			$ 3,900,000,000
BMO [Member] | The 2018 Credit Agreement Amendment [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument, Covenant, Allowable Ratio, Current Quarter								4						3	3.50	5	4	3

Note G - Debt - Long-term Debt

Note G - Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Long-term debt	$ 32,085	$ 42,587
Less: current maturities	(2,000)	(4,691)
Total long-term debt	30,085	37,896
Revolving Loan [Member]
Long-term debt	15,415	16,641
Term Loan [Member]
Long-term debt	16,500	17,500
Promissory Note [Member] | Paycheck Protection Program CARES Act [Member]
Long-term debt	0	8,200
Other Long-Term Debt [Member]
Long-term debt	$ 170	$ 246

Note G - Debt - Schedule of Mat

Note G - Debt - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
2022	$ 2,084
2023	17,461
2024	2,015
2025	2,000
2026	8,500
Thereafter	25
Long-term Debt, Total	$ 32,085	$ 42,587

Note H - Lease Obligations - Co

Note H - Lease Obligations - Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Operating lease right-of-use assets	$ 14,736	$ 14,448
Finance lease right-of-use assets	5,244	959
Operating lease liabilities	12,887	12,738
Property, Plant and Equipment, Net [Member]
Operating lease right-of-use assets	14,736	14,448
Finance lease right-of-use assets	5,244	959
Accrued Liabilities [Member]
Operating lease liabilities	1,870	1,724
Finance lease liabilities	541	233
Lease Obligation [Member]
Operating lease liabilities	12,887	12,738
Finance lease liabilities	$ 4,836	$ 757

Note H - Lease Liabilities - Co

Note H - Lease Liabilities - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Amortization of right-of-use assets	$ 580	$ 188
Interest on lease liabilities	273	56
Operating lease cost	2,795	3,137
Short-term lease cost	24	64
Variable lease cost	159	58
Total lease cost	3,831	3,503
Less: Sublease income	(154)	(212)
Net lease cost	$ 3,677	$ 3,291

Note H - Lease Obligations - Ot

Note H - Lease Obligations - Other Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating cash flows from operating leases	$ 3,022	$ 3,141
Operating cash flows from finance leases	480	167
Financing cash flows from finance leases	273	56
Right-of-use-assets obtained in exchange for lease obligations: Operating leases	1,481	2,757
Right-of-use-assets obtained in exchange for lease obligations: Finance leases	$ 4,814	$ 592
Weighted average remaining lease term (years): Operating leases (Year)	9 years 9 months 18 days	10 years 8 months 12 days
Weighted average remaining lease term (years): Finance lease (Year)	12 years	4 years
Weighted average discount rate: Operating leases	7.20%	7.40%
Weighted average discount rate: Finance leases	5.20%	6.20%

Note H - Lease Obligations - Fu

Note H - Lease Obligations - Future Minimum Rental Commitments Under Noncancellable Leases (Details) $ in Thousands	Jun. 30, 2021USD ($)
2022, Operating Leases	$ 2,898
2022, Finance Leases	805
2023, Operating Leases	2,600
2023, Finance Leases	796
2024, Operating Leases	2,256
2024, Finance Leases	752
2025, Operating Leases	1,663
2025, Finance Leases	507
2026, Operating Leases	1,575
2026, Finance Leases	434
Thereafter, Operating Leases	9,989
Thereafter, Finance Leases	3,879
Total future lease payments, Operating Leases	20,981
Total future lease payments, Finance Leases	7,173
Less: Amount representing interest, Operating Leases	(6,224)
Less: Amount representing interest, Finance Leases	(1,796)
Present value of future payments, Operating Leases	14,757
Present value of future payments, Finance Leases	$ 5,377

Note I - Shareholders' Equity_2

Note I - Shareholders' Equity (Details Textual) - $ / shares $ / shares in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Common Stock, Shares, Outstanding, Ending Balance (in shares)	13,648,663	13,405,993
Treasury Stock, Shares, Ending Balance (in shares)	984,139	1,226,809
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares)	249,480	186,226
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares)	6,809	20,511
Treasury Stock, Shares, Acquired (in shares)	0	0
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares)	315,000	315,000
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share)	$ 0
Preferred Stock, Shares Authorized (in shares)	200,000	200,000
Preferred Stock, Shares Issued, Total (in shares)	0	0
Preferred Stock, Capital Shares Reserved for Future Issuance (in shares)	150,000

Note I - Shareholders' Equity -

Note I - Shareholders' Equity - Shareholders' Equity Reconciliation (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Translation adjustments	$ 9,192	$ 3,454
Net loss on cash flow hedge derivatives, net of income taxes of $211 and $341, respectively	(678)	(1,104)
Net gain on net investment hedge derivatives, net of income taxes of $103 and $0, respectively	334	0
Benefit plan adjustments, net of income taxes of $9,537 and $13,316 respectively	(31,463)	(43,576)
Accumulated other comprehensive loss	$ (22,615)	$ (41,226)

Note I - Shareholders' Equity_3

Note I - Shareholders' Equity - Shareholders' Equity Reconciliation (Details) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Net loss on cash flow hedge derivatives, income taxes	$ 211	$ 341
Net gain on net investment hedge derivatives, taxes	103	0
Benefit plan adjustments, tax	$ 9,537	$ 13,316

Note I - Stockholders' Equity -

Note I - Stockholders' Equity - Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Balance	$ 139,958	$ 182,818
Balance	130,660	139,958
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	3,454	4,439
Other comprehensive loss before reclassifications	5,738	(985)
Amounts reclassified from accumulated other comprehensive loss	0	0
Net current period other comprehensive income	5,738	(985)
Balance	9,192	3,454
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Balance	(43,576)	(41,901)
Other comprehensive loss before reclassifications	9,783	(3,792)
Amounts reclassified from accumulated other comprehensive loss	2,330	2,117
Net current period other comprehensive income	12,113	(1,675)
Balance	(31,463)	(43,576)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Balance	(1,104)	(509)
Other comprehensive loss before reclassifications	426	(595)
Amounts reclassified from accumulated other comprehensive loss	0	0
Net current period other comprehensive income	426	(595)
Balance	(678)	(1,104)
Accumulated Gain (Loss), Net, Net Investment Hedge [Member]
Balance	0
Other comprehensive loss before reclassifications	334
Amounts reclassified from accumulated other comprehensive loss	0
Net current period other comprehensive income	334
Balance	$ 334	$ 0

Note I - Stockholders' Equity_2

Note I - Stockholders' Equity - Reconciliation for the Reclassifications Out of Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Net loss	$ (29,519)	$ (39,571)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Actuarial losses	(3,246)	(2,982)
Transition asset and prior service benefit	187	195
Total before tax benefit	(3,059)	(2,787)
Tax benefit	729	670
Net loss	$ (2,330)	$ (2,117)

Note J - Business Segments an_3

Note J - Business Segments and Foreign Operations (Details Textual)	12 Months Ended
	Jun. 30, 2021
Number of Reportable Segments	2

Note J - Business Segments an_4

Note J - Business Segments and Foreign Operations - Net Sales by Product Group (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Net Sales	$ 218,581	$ 246,838
Operating Segments [Member]
Net Sales	291,731	323,389
Intersegment Eliminations [Member]
Net Sales	(73,150)	(76,551)
Manufacturing Segment [Member] | Operating Segments [Member]
Net Sales	191,510	227,565
Distribution Segment [Member] | Operating Segments [Member]
Net Sales	100,221	95,824
Industrial [Member]
Net Sales	23,454	26,343
Industrial [Member] | Intersegment Eliminations [Member]
Net Sales	(4,661)	(3,434)
Industrial [Member] | Manufacturing Segment [Member] | Operating Segments [Member]
Net Sales	22,621	24,143
Industrial [Member] | Distribution Segment [Member] | Operating Segments [Member]
Net Sales	5,494	5,634
Land Based Transmissions [Member]
Net Sales	58,421	62,697
Land Based Transmissions [Member] | Intersegment Eliminations [Member]
Net Sales	(20,023)	(26,525)
Land Based Transmissions [Member] | Manufacturing Segment [Member] | Operating Segments [Member]
Net Sales	52,441	63,523
Land Based Transmissions [Member] | Distribution Segment [Member] | Operating Segments [Member]
Net Sales	26,003	25,699
Marine and Propulsion Systems [Member]
Net Sales	127,243	152,501
Marine and Propulsion Systems [Member] | Intersegment Eliminations [Member]
Net Sales	(48,404)	(46,544)
Marine and Propulsion Systems [Member] | Manufacturing Segment [Member] | Operating Segments [Member]
Net Sales	116,371	139,833
Marine and Propulsion Systems [Member] | Distribution Segment [Member] | Operating Segments [Member]
Net Sales	59,276	59,212
Other [Member]
Net Sales	9,463	5,297
Other [Member] | Intersegment Eliminations [Member]
Net Sales	(62)	(48)
Other [Member] | Manufacturing Segment [Member] | Operating Segments [Member]
Net Sales	77	66
Other [Member] | Distribution Segment [Member] | Operating Segments [Member]
Net Sales	$ 9,448	$ 5,279

Note J - Business Segments an_5

Note J - Business Segments and Foreign Operations - Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Net Sales	$ 218,581	$ 246,838
Intra-segment sales	24,182	27,119
Inter-segment sales	48,968	49,432
Interest income	19	78
Interest expense	2,358	1,860
Income taxes	19,680	(4,169)
Depreciation and amortization	11,243	11,925
Net income attributable to Twin Disc	(29,719)	(39,817)
Assets	275,413	294,127
Expenditures for segment assets	4,464	10,699
Manufacturing Segment [Member]
Intra-segment sales	9,436	14,230
Inter-segment sales	44,575	43,854
Distribution Segment [Member]
Intra-segment sales	14,746	12,889
Inter-segment sales	4,393	5,578
Operating Segments [Member]
Net Sales	291,731	323,389
Interest income	189	368
Interest expense	2,450	2,128
Income taxes	(791)	(1,759)
Depreciation and amortization	10,867	11,530
Net income attributable to Twin Disc	11,121	(31,050)
Assets	411,335	408,535
Expenditures for segment assets	3,688	10,349
Operating Segments [Member] | Manufacturing Segment [Member]
Net Sales	191,510	227,565
Interest income	172	346
Interest expense	2,449	2,128
Income taxes	(980)	(2,027)
Depreciation and amortization	10,455	11,151
Net income attributable to Twin Disc	11,016	(31,603)
Assets	364,379	365,417
Expenditures for segment assets	3,500	9,615
Operating Segments [Member] | Distribution Segment [Member]
Net Sales	100,221	95,824
Interest income	17	22
Interest expense	1	0
Income taxes	189	268
Depreciation and amortization	412	379
Net income attributable to Twin Disc	105	553
Assets	46,956	43,118
Expenditures for segment assets	$ 188	$ 734

Note J - Business Segments an_6

Note J - Business Segments and Foreign Operations - Reconciliation of Reportable Segment Net Sales and Net Earnings to Consolidated Totals (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Net Sales	$ 218,581	$ 246,838
Net earnings attributable to Twin Disc	(29,719)	(39,817)
Operating Segments [Member]
Net Sales	291,731	323,389
Net earnings attributable to Twin Disc	11,121	(31,050)
Intersegment Eliminations [Member]
Net Sales	(73,150)	(76,551)
Corporate, Non-Segment [Member]
Net earnings attributable to Twin Disc	$ (40,840)	$ (8,767)

Note J - Business Segments an_7

Note J - Business Segments and Foreign Operations - Reconciliation of Reportable Segments Other Significant Reconciling Items to Consolidated Totals (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Interest income	$ 19	$ 78
Interest expense	2,358	1,860
Income taxes	19,680	(4,169)
Depreciation and amortization	11,243	11,925
Assets	275,413	294,127
Expenditures for segment assets	4,464	10,699
Depreciation and amortization		11,925
Operating Segments [Member]
Interest income	189	368
Interest expense	2,450	2,128
Income taxes	(791)	(1,759)
Depreciation and amortization	10,867	11,530
Assets	411,335	408,535
Expenditures for segment assets	3,688	10,349
Depreciation and amortization		11,530
Segment Reconciling Items [Member]
Interest income	(170)	(290)
Interest expense	(92)	(268)
Income taxes	20,471	(2,410)
Depreciation and amortization	376
Assets	(135,922)	(114,408)
Expenditures for segment assets	$ 776	350
Depreciation and amortization		$ 395

Note J - Business Segments an_8

Note J - Business Segments and Foreign Operations - Geographic Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Net Sales	$ 218,581	$ 246,838
Long-lived assets	63,455	76,724
Reportable Geographical Components [Member] | UNITED STATES
Net Sales	64,344	83,771
Long-lived assets	34,629	41,996
Reportable Geographical Components [Member] | NETHERLANDS
Net Sales	33,026	39,501
Long-lived assets	12,447	12,659
Reportable Geographical Components [Member] | BELGIUM
Long-lived assets	8,575	8,363
Reportable Geographical Components [Member] | CHINA
Net Sales	25,790	26,354
Reportable Geographical Components [Member] | ITALY
Net Sales	16,041	11,802
Long-lived assets	1,525	1,697
Reportable Geographical Components [Member] | AUSTRALIA
Net Sales	17,963	12,438
Reportable Geographical Components [Member] | SWITZERLAND
Long-lived assets	503	6,804
Reportable Geographical Components [Member] | Other Countries [Member]
Net Sales	53,619	60,420
Long-lived assets	5,776	5,205
Reportable Geographical Components [Member] | AUSTRIA
Net Sales	$ 7,798	$ 12,552

Note K - Stock-based Compensa_3

Note K - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	251,804	180,379
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares)	6,809	20,511
Performance Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	397,884	184,766
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	265,256	131,688
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, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)	388,433	167,848
Allocated Share-based Compensation Expense (Reversal)	$ 491	$ (368)
Share-based Payment Arrangement, Expense, Tax Benefit	$ 116	(87)
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)	$ 7.50
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 2,432
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 0	$ 167
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)	379,095	231,379
Share-based Payment Arrangement, Expense, Tax Benefit	$ 315	$ 283
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	1,333
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)	6,809	20,511
Share-based Payment Arrangement, Expense	$ 1,335	$ 1,200
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)	34,822	37,950
Share-based Payment Arrangement, Expense, Tax Benefit	$ 78	$ 77
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
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 25
Share-based Payment Arrangement, Expense	$ 328	$ 326
The 2020 Directors Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	750,000
The 2018 Long-Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	850,000
Stock Incentive Plan for Non-employee Directors 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	250,000
Long-term Incentive Compensation Plan 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	650,000

Note K - Stock-based Compensa_4

Note K - Stock-based Compensation - Shares Available for Future Options (Details) - Stock Options [Member] - shares	Jun. 30, 2021	Jun. 30, 2019
The 2020 Directors Plan [Member]
Shares Available for Grant (in shares)	666,913	0
The 2018 Long-Term Incentive Plan [Member]
Shares Available for Grant (in shares)	103,289	492,591

Note L - Engineering and Deve_2

Note L - Engineering and Development Costs (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Research and Development Expense, Total	$ 1,867	$ 1,820
Engineering and Development Costs	$ 8,535	$ 10,998

Note M - Pension and Other Po_3

Note M - Pension and Other Postretirement Benefit Plans (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plan, Cost of Premium for Health Coverage Plan, Percentage	100.00%
Defined Benefit Plan, Accumulated Benefit Obligation	$ 98,700	$ 105,520
Defined Benefit Plan, Weighted Average Healthcare Cost, Trend Rate	6.00%
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate	5.00%
Defined Benefit Plan, Percentage of Increase in Assumed HealthCare Cost Trend Rate	1.00%
Defined Benefit Plan, Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation	$ 81
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components	$ 2
Defined Benefit Plan, Percentage of Decrease in Assumed Healthcare Cost Trend Rate	1.00%
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation	$ 71
Defined Benefit Plan, Effect of One Percentage Point Decrease on Service and Interest Cost Components	$ 2
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	100.00%	100.00%
Defined Benefit Plan, Expected Long-term Return on Plan Assets	5.69%
Defined Contribution Plan, Cost	$ 2,162	$ 1,949
Pension Plan [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year	$ 733
UNITED STATES
Defined Benefit Plan, Expected Long-term Return on Plan Assets	5.90%
Common Stock Held by U.S Pension Plans [Member]
Defined Benefit Plan, Plan Assets, Employer, Related Party, Number of Shares (in shares)	98,211	98,211
Defined Benefit Plan, Plan Assets, Employer, Related Party, Amount	$ 1,398	$ 544
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage	1.50%	0.70%

Note M - Pension and Other Po_4

Note M - Pension and Other Postretirement Benefit Plans - Net Funded Status of Pension and Postretirement Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Net amount recognized	$ (31,463)	$ (43,576)
Pension Plan [Member]
Benefit obligation, beginning of year	105,520	107,322
Service cost	608	653
Interest cost	2,516	3,305
Prior service cost	65	0
Actuarial (gain) loss	(1,577)	3,161
Contributions by plan participants	114	93
Benefits paid	(8,546)	(9,014)
Benefit obligation, end of year	98,700	105,520
Fair value of assets, Balance	83,284	87,291
Actual return on plan assets	15,325	3,541
Employer contribution	2,253	1,373
Contributions by plan participants	114	93
Benefits paid	(8,546)	(9,014)
Fair value of assets, Balance	92,430	83,284
Funded status	(6,270)	(22,236)
Other assets - noncurrent	60	0
Accrued liabilities - current	(423)	(276)
Accrued retirement benefits - noncurrent	(5,907)	(21,960)
Net amount recognized	(6,270)	(22,236)
Net transition obligation	133	158
Prior service cost	94	104
Actuarial net loss	31,563	43,548
Net amount recognized	31,790	43,810
Other Postretirement Benefits Plan [Member]
Benefit obligation, beginning of year	7,059	7,451
Service cost	16	17
Interest cost	154	219
Prior service cost	0	0
Actuarial (gain) loss	(395)	211
Contributions by plan participants	269	352
Benefits paid	(1,001)	(1,191)
Benefit obligation, end of year	6,102	7,059
Fair value of assets, Balance	0	0
Actual return on plan assets	0	0
Employer contribution	732	839
Contributions by plan participants	269	352
Benefits paid	(1,001)	(1,191)
Fair value of assets, Balance	0	0
Funded status	(6,102)	(7,059)
Other assets - noncurrent	0	0
Accrued liabilities - current	(833)	(1,081)
Accrued retirement benefits - noncurrent	(5,269)	(5,978)
Net amount recognized	(6,102)	(7,059)
Net transition obligation	0	0
Prior service cost	(487)	(697)
Actuarial net loss	160	463
Net amount recognized	$ (327)	$ (234)

Note M - Pension and Other Po_5

Note M - Pension and Other Postretirement Benefit Plans - Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized Over Next Fiscal Year (Details) $ in Thousands	Jun. 30, 2021USD ($)
Pension Plan [Member]
Net transition obligation	$ 37
Prior service cost	44
Actuarial net loss	2,254
Net amount to be recognized	2,335
Other Postretirement Benefits Plan [Member]
Net transition obligation	0
Prior service cost	(275)
Actuarial net loss	0
Net amount to be recognized	$ (275)

Note M - Pension and Other Po_6

Note M - Pension and Other Postretirement Benefit Plans - Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Projected and accumulated benefit obligation	$ 53,780	$ 105,520
Fair value of plan assets	$ 47,450	$ 83,284

Note M - Pension and Other Po_7

Note M - Pension and Other Postretirement Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Pension Plan [Member]
Service cost	$ 615	$ 648
Interest cost	2,516	3,304
Prior service cost	65	0
Expected return on plan assets	(4,552)	(4,894)
Amortization of transition obligation	40	35
Amortization of prior service cost	47	45
Amortization of actuarial net loss	3,246	2,982
Net periodic benefit cost	1,977	2,120
Other Postretirement Benefits Plan [Member]
Service cost	16	17
Interest cost	154	219
Prior service cost	0	0
Amortization of prior service cost	(274)	(274)
Net periodic benefit cost	$ (104)	$ (38)

Note M - Pension and Other Po_8

Note M - Pension and Other Postretirement Benefit Plans - Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Pension Plan [Member]
Net loss	$ (12,464)	$ 4,770
Amortization of transition asset	(40)	(35)
Amortization of prior service (cost) benefit	(43)	(45)
Amortization of net loss	(3,246)	(2,978)
Total recognized in other comprehensive income	(15,793)	1,712
Net periodic benefit cost (benefit)	1,977	2,120
Total recognized in net periodic benefit cost and other comprehensive income	(13,816)	3,832
Other Postretirement Benefits Plan [Member]
Net loss	(397)	211
Amortization of transition asset	0	0
Amortization of prior service (cost) benefit	275	275
Amortization of net loss	0	0
Total recognized in other comprehensive income	(122)	486
Net periodic benefit cost (benefit)	(104)	(38)
Total recognized in net periodic benefit cost and other comprehensive income	$ (226)	$ 448

Note M - Pension and Other Po_9

Note M - Pension and Other Postretirement Benefit Plans - Schedule of Assumptions (Details)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Pension Plan [Member]
Discount rate	2.63%	2.49%
Expected return on plan assets	5.69%	5.89%
Discount rate	2.49%	3.22%
Expected return on plan assets	5.89%	6.04%
Other Postretirement Benefits Plan [Member]
Discount rate	2.47%	2.37%
Expected return on plan assets
Discount rate	2.37%	3.15%
Expected return on plan assets

Note M - Pension and Other P_10

Note M - Pension and Other Postretirement Benefit Plans - Pension Plan Weighted-Average Asset Allocations (Details)	Jun. 30, 2021	Jun. 30, 2020
Target Allocation	100.00%
Actual Allocation	100.00%	100.00%
Equity Securities [Member]
Target Allocation	51.00%
Actual Allocation	53.00%	47.00%
Debt Securities [Member]
Target Allocation	40.00%
Actual Allocation	38.00%	44.00%
Real Estate [Member]
Target Allocation	9.00%
Actual Allocation	9.00%	9.00%

Note M - Pension and Other P_11

Note M - Pension and Other Postretirement Benefit Plans - Plan Assets Using Fair Value Hierarchy (Details) - USD ($) $ in Thousands		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Fair Value, Inputs, Level 3 [Member]
Plan Assets		$ 6,646	$ 6,095	$ 6,171
Pension Plan [Member]
Plan Assets		92,430	83,284	$ 87,291
Pension Plan [Member] | Fair Value, Inputs, Level 1, 2 and 3 [Member]
Plan Assets		36,654	30,026
Pension Plan [Member] | Fair Value, Inputs, Level 1 [Member]
Plan Assets		30,008	23,931
Pension Plan [Member] | Fair Value, Inputs, Level 2 [Member]
Plan Assets		0	0
Pension Plan [Member] | Fair Value, Inputs, Level 3 [Member]
Plan Assets		6,646	6,095
Pension Plan [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Plan Assets	[1]	55,776	53,258
Cash and Cash Equivalents [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 1, 2 and 3 [Member]
Plan Assets		1,043	920
Cash and Cash Equivalents [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 1 [Member]
Plan Assets		1,043	920
Cash and Cash Equivalents [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 2 [Member]
Plan Assets		0	0
Cash and Cash Equivalents [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 3 [Member]
Plan Assets		0	0
Investments Measured at Net Asset Value, Fixed Income Funds [Member] | Pension Plan [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Plan Assets		31,627	33,032
Company Common Stock [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 1, 2 and 3 [Member]
Plan Assets	[2]	1,398	544
Company Common Stock [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 1 [Member]
Plan Assets	[2]	1,398	544
Company Common Stock [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 2 [Member]
Plan Assets	[2]	0	0
Company Common Stock [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 3 [Member]
Plan Assets	[2]	0	0
Investments Measured at Net Asset Value, Equity Securities [Member] | Pension Plan [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Plan Assets		4,282	2,840
Common Stock [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 1, 2 and 3 [Member]
Plan Assets	[2]	18,201	14,551
Common Stock [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 1 [Member]
Plan Assets	[2]	18,201	14,551
Common Stock [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 2 [Member]
Plan Assets	[2]	0	0
Common Stock [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 3 [Member]
Plan Assets	[2]	0	0
Investments Measured at Net Asset Value, Real Estate [Member] | Pension Plan [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Plan Assets		7,747	7,186
Mutual Fund [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 1, 2 and 3 [Member]
Plan Assets	[3]	9,366	7,916
Mutual Fund [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 1 [Member]
Plan Assets	[3]	9,366	7,916
Mutual Fund [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 2 [Member]
Plan Assets	[3]	0	0
Mutual Fund [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 3 [Member]
Plan Assets	[3]	0	0
Investments Measured at Net Asset Value, Hedge Funds [Member] | Pension Plan [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Plan Assets		12,120	10,200
Annuity Contracts [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 1, 2 and 3 [Member]
Plan Assets	[4]	6,646	6,095
Annuity Contracts [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 1 [Member]
Plan Assets	[4]	0	0
Annuity Contracts [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 2 [Member]
Plan Assets	[4]	0	0
Annuity Contracts [Member] | Pension Plan [Member] | Fair Value, Inputs, Level 3 [Member]
Plan Assets	[4]	$ 6,646	$ 6,095
[1]	In accordance with ASC 820-10, certain investments that were measured at net asset value per share (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the fair value of plan assets at the end of the year.
[2]	Common stock is valued at the closing price reported on the active market on which the individual securities are traded. These securities include U.S. equity securities invested in companies that are traded on exchanges inside the U.S. and international equity securities invested in companies that are traded on exchanges outside the U.S.
[3]	Mutual funds are valued at the daily closing price as reported by the fund. Mutual funds held by the Company’s funded benefit plans are open-end mutual funds that are registered with the Securities Exchange Commission. These funds are required to publish their daily net asset value (“NAV”) and to transact at that price. The mutual funds held by the Company’s funded benefit plans are deemed to be actively traded.
[4]	Annuity contracts represent contractual agreements in which payments are made to an insurance company, which agrees to pay out an income or lump sum amount at a later date. Annuity contracts are valued at fair value using the net present value of future cash flows.

Note M - Pension and Other P_12

Note M - Pension and Other Postretirement Benefit Plans - Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Fair value of assets, Balance	$ 6,095	$ 6,171
Relating to assets still held at reporting date	600	75
Purchases, sales and settlements, net	(49)	(151)
Fair value of assets, Balance	$ 6,646	$ 6,095

Note M - Pension and Other P_13

Note M - Pension and Other Postretirement Benefit Plans - Defined Benefit Plan Estimated Future Benefit Payments (Details) $ in Thousands	Jun. 30, 2021USD ($)
Pension Plan [Member]
2022	$ 8,535
2023	7,794
2024	7,433
2025	7,095
2026	6,865
Years 2027 - 2031	31,435
Other Postretirement Benefits Plan [Member]
2022	843
2023	769
2024	693
2025	608
2026	544
Years 2027 - 2031	$ 2,042

Note N - Income Taxes (Details

Note N - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	$ 24,420	$ 0
Gain (Loss) on Extinguishment of Debt, Total	8,200	0
Effective Income Tax Rate Reconciliation, GILTI, Amount	0	1,220
Undistributed Earnings of Foreign Subsidiaries	10,871	1,729
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	778	918
Unrecognized Tax Benefits, Income Tax Penalties Accrued	141	$ 185
Domestic Tax Authority [Member]
Operating Loss Carryforwards, Subject to Expiration	30,980
Tax Credit Carryforward, Amount	9,780
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Subject to Expiration	31,181
Tax Credit Carryforward, Amount	$ 1,037

Note N - Income Taxes - Domesti

Note N - Income Taxes - Domestic and Foreign Earnings Before Income Taxes and Minority Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
United States	$ (15,925)	$ (29,332)
Foreign	6,086	(14,408)
Loss before income taxes and noncontrolling interest	$ (9,839)	$ (43,740)

Note N - Income Taxes - Provisi

Note N - Income Taxes - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Federal	$ 28	$ (149)
State	49	30
Foreign	1,948	4,022
Current	2,025	3,903
Federal	15,554	(5,673)
State	2,341	(860)
Foreign	(240)	(1,539)
Deferred	17,655	(8,072)
Income tax (benefit) expense	$ 19,680	$ (4,169)

Note N - Income Taxes - Compone

Note N - Income Taxes - Components of Net Deferred Tax Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Retirement plans and employee benefits	$ 4,584	$ 7,934
Foreign tax credit carryforwards	7,609	7,429
Federal tax credits	1,801	1,585
State net operating loss and other state credit carryforwards	2,208	1,696
Federal net operating loss	6,506	1,607
Inventory	0	205
Reserves	1,670	1,056
Foreign NOL carryforwards	66	555
Accruals	871	823
Right of use assets - operating leases	3,674	3,920
Disallowed interest	982	418
Disallowed PPP expenses	0	1,320
Other assets	1,033	832
Gross deferred tax assets	31,004	29,380
Valuation allowance	(24,420)	0
Deferred Tax Assets, Net of Valuation Allowance, Total	6,584	29,380
Inventory	480	0
Property, plant and equipment	1,852	3,231
Intangibles	2,982	3,306
Long term operating lease obligations	3,622	3,855
Other liabilities	182	44
Deferred Tax Liabilities, Gross, Total	9,118	10,436
Total net deferred tax (liabilities)	$ (2,534)
Total net deferred tax assets		$ 18,944

Note N - Income Taxes - Reconci

Note N - Income Taxes - Reconciliation of U.S. Federal Income Taxes to Actual Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
U.S. federal income tax at 21%	$ (2,066)	$ (9,185)
Increases (reductions) in tax resulting from:
Foreign tax items	552	236
State taxes	(440)	(716)
Change in prior year estimate	(1,138)	(213)
Nondeductible PPP loan expenses	(1,722)	0
Research and development tax credits	(336)	(412)
Goodwill impairment	0	4,814
Unrecognized tax benefits	59	9
Stock compensation	252	(93)
Rate changes	18	237
Deferred tax basis adjustments	42	(138)
GILTI inclusion	0	1,220
Valuation allowance	24,420	0
Other, net	39	72
Income tax (benefit) expense	$ 19,680	$ (4,169)

Note N - Income Taxes - Recon_2

Note N - Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Unrecognized tax benefits, beginning of year	$ 918	$ 938
Additions based on tax positions related to the prior year	0	17
Additions based on tax positions related to the current year	66	87
Reductions based on tax positions related to the prior year	(21)	(19)
Subtractions due to statutes closing	0	(105)
Settlements with taxing authorities	(185)	0
Unrecognized tax benefits, end of year	$ 778	$ 918

Note P - Restructuring of Ope_3

Note P - Restructuring of Operations and Income From Extinguishment of Loan (Details Textual) $ in Thousands, SFr in Millions	Aug. 17, 2021CHF (SFr)	Jun. 16, 2021USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2022	Jun. 30, 2021USD ($)	Jun. 30, 2019USD ($)
Restructuring and Related Cost, Number of Positions Eliminated						252
Restructuring Reserve, Ending Balance			$ 2,352	$ 84		$ 2,352	$ 0
Restructuring and Related Cost, Expected Pre-tax Savings			1,600
Restructuring Charges, Total			7,377	5,138		15,515
Impairment of Long-Lived Assets to be Disposed of			4,267
Gain (Loss) on Extinguishment of Debt, Total			8,200	0
Paycheck Protection Program CARES Act [Member] | Promissory Note [Member]
Extinguishment of Debt, Amount		$ 8,200
Gain (Loss) on Extinguishment of Debt, Total			8,200
Subsequent Event [Member] | SWITZERLAND
Proceeds from Sale of Productive Assets, Total | SFr	SFr 0.6
Employee Severance [Member]
Restructuring Reserve, Ending Balance			2,200			$ 2,200
Restructuring Charges, Total			$ 3,110	$ 1,953
Forecast [Member]
Restructuring and Related Cost, Number of Positions Eliminated					23

Note P - Restructuring of Ope_4

Note P - Restructuring of Operations and Income From Extinguishment of Loan - Roll-forward of Restructuring Activity (Details) - USD ($) $ in Thousands	12 Months Ended		73 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021
Accrued restructuring liability	$ 84	$ 0
Additions	7,377	5,138	$ 15,515
Payments and adjustments	(5,109)	(5,054)
Accrued restructuring liability	$ 2,352	$ 84	$ 2,352

Note Q - Earnings Per Share (De

Note Q - Earnings Per Share (Details Textual) - shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	388,433	167,848
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	379,095	231,379
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	34,822	37,950

Note Q - Earnings Per Share - C

Note Q - Earnings Per Share - Components of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Net loss	$ (29,519)	$ (39,571)
Less: Net earnings attributable to noncontrolling interest	(200)	(246)
Less: Undistributed earnings attributable to unvested shares	0	0
Net loss available to Twin Disc shareholders	$ (29,719)	$ (39,817)
Weighted average shares outstanding - basic (in shares)	13,247	13,153
Basic loss per share attributable to Twin Disc common shareholders (in dollars per share)	$ (2.24)	$ (3.03)
Net loss available to Twin Disc shareholders	$ (29,719)	$ (39,817)
Effect of dilutive stock awards (in shares)	0	0
Weighted average shares outstanding - diluted (in shares)	13,247	13,153
Net loss per share - diluted (in dollars per share)	$ (2.24)	$ (3.03)

Note R - Derivative Financial_3

Note R - Derivative Financial Instruments (Details Textual) $ in Thousands, € in Millions	12 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021EUR (€)	Jun. 30, 2019USD ($)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	$ 130,660	$ 139,958		$ 182,818
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	(346)
Designated as Hedging Instrument [Member] | Net Investment Hedging [Member] | Euro Denominated Revolving Loan [Member]
Derivative, Notional Amount | €			€ 13
Derivative, Gain (Loss) on Derivative, Net, Total	334	0
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	$ (678)	$ (1,104)		$ (509)

Note R - Derivative Financial_4

Note R - Derivative Financial Instruments - Fair Value of Derivative Instruments (Details) - Interest Rate Swap [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Accounts Payable and Accrued Liabilities [Member]
Derivative Liabilities, Current	$ 346	$ 392
Other Noncurrent Liabilities [Member]
Derivative Liabilities, Noncurrent	$ 542	$ 1,052

Note R - Derivative Financial_5

Note R - Derivative Financial Instruments - Impact of the Company's Derivative Instruments on the Consolidated Statement of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Unrealized gain (loss) on hedges	$ 760	$ (595)
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Unrealized Gain (Loss) on Hedges [Member] | Cash Flow Hedging [Member]
Unrealized gain (loss) on hedges	425	(595)
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Interest Expense [Member]
Gain (loss) on derivative instruments	399	171
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | Other Nonoperating Income (Expense) [Member]
Gain (loss) on derivative instruments	(15)	(9)
Euro Denominated Revolving Loan [Member] | Designated as Hedging Instrument [Member] | Unrealized Gain (Loss) on Hedges [Member] | Net Investment Hedging [Member]
Unrealized gain (loss) on hedges	$ 335	$ 0

Schedule II - Valuation and Q_3

Schedule II - Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands		12 Months Ended
		Jun. 30, 2021	Jun. 30, 2020
SEC Schedule, 12-09, Allowance, Credit Loss [Member]
Balance at Beginning of Period		$ 1,740	$ 1,582
Charged to Costs and Expenses		346	399
Adjustments	[1]	216	241
Balance at End of Period		1,870	1,740
SEC Schedule, 12-09, Reserve, Inventory [Member]
Balance at Beginning of Period		9,863	10,463
Charged to Costs and Expenses		1,178	1,532
Adjustments	[1]	762	2,132
Balance at End of Period		10,279	9,863
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]
Balance at Beginning of Period		0
Charged to Costs and Expenses		24,420
Adjustments		0
Balance at End of Period		$ 24,420	$ 0
[1]	Activity primarily represents amounts written-off during the year, along with other adjustments (primarily foreign currency translation adjustments).