Twin Disc (TWIN) 10-Q 8 Nov 23 2024 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Sep. 29, 2023	Oct. 25, 2023
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	Q1
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 29, 2023
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	222 East Erie Street, Suite 400
Entity Address, City or Town	Milwaukee
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53202
City Area Code	262
Local Phone Number	638-4000
Title of 12(b) Security	Common Stock (No Par Value)
Trading Symbol	TWIN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,960,861

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 29, 2023	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2022
Current assets:
Cash	$ 20,428	$ 13,263	$ 13,214
Trade accounts receivable, net	39,756	54,760	40,007
Inventories	126,236	131,930	128,100
Assets held for sale	4,559	2,968	5,769
Prepaid expenses	9,466	8,459	8,207
Other	8,763	8,326	6,521
Total current assets	209,208	219,706	201,818
Property, plant and equipment, net	40,065	38,650	38,989
Right-of-use assets operating leases	12,093	13,133	11,492
Intangible assets, net	11,517	12,637	11,560
Deferred income taxes	2,204	2,244	2,846
Other assets	2,894	2,811	2,846
Total assets	277,981	289,181	269,551
Current liabilities:
Current maturities of long-term debt	2,002	2,010	2,000
Accounts payable	29,584	36,499	30,706
Accrued liabilities	60,632	61,586	49,158
Total current liabilities	92,218	100,095	81,864
Long-term debt	19,655	16,617	35,112
Lease obligations	9,896	10,811	9,483
Accrued retirement benefits	7,138	7,608	9,860
Deferred income taxes	3,150	3,280	3,422
Other long-term liabilities	5,749	5,253	5,042
Total liabilities	137,806	143,664	144,783
Twin Disc shareholders' equity:
Preferred shares authorized: 200,000; issued: none; no par value	0	0	0
Common shares authorized: 30,000,000; issued: 14,632,802; no par value	39,439	42,855	41,285
Retained earnings	119,126	120,299	108,497
Accumulated Other Comprehensive Income (Loss), Net of Tax	(8,621)	(5,570)	(12,598)
Equity before treasury stock	149,944	157,584	137,184
Less treasury stock, at cost (674,354 and 814,734 shares, respectively)	10,343	12,491	12,964
Total Twin Disc shareholders' equity	139,601	145,093	124,220
Noncontrolling interest	574	424	548
Total equity	140,175	145,517	124,768	$ 131,188
Total liabilities and equity	$ 277,981	$ 289,181	$ 269,551

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands	Sep. 29, 2023	Jun. 30, 2023
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, Common, Shares (in shares)	674,354	814,734

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Net sales	$ 63,554	$ 55,913
Cost of goods sold		42,616
Gross profit	16,637	13,297
Marketing, engineering and administrative expenses	16,917	15,090
Loss from operations	(280)	(1,793)
Other Income (expense):
Interest expense	(394)	(566)
Other income, net	137	347
Non-operating income (expense)	(257)	(219)
Loss before income taxes and noncontrolling interest	(537)	(2,012)
Income tax expense	546	(688)
Net loss	(1,083)	(1,324)
Less: Net loss attributable to noncontrolling interest, net of tax	(90)	(98)
Net loss attributable to Twin Disc	$ (1,173)	$ (1,422)
Loss per share data:
Net loss per share - basic (in dollars per share)	$ (0.09)	$ (0.11)
Net loss per share - diluted (in dollars per share)	$ (0.09)	$ (0.11)
Weighted average shares outstanding data:
Basic shares outstanding (in shares)	13,527	13,407
Diluted shares outstanding (in shares)	13,527	13,407
Comprehensive income (loss)
Net loss	$ (1,083)	$ (1,324)
Benefit plan adjustments, net of income taxes of $9	(171)	(89)
Translation adjustment during the quarter	(3,036)	(6,290)
Unrealized loss on hedges, net of income taxes of $0, respectively	216	793
Comprehensive loss	(4,074)	(6,910)
Less: Comprehensive income attributable to noncontrolling interest	151	136
Comprehensive loss attributable to Twin Disc	(4,225)	(7,046)
Service Excluding Boat Management System Product Line [Member]
Cost of goods sold	43,818	42,616
Boat Management System Product Line [Member]
Cost of goods sold	$ 3,099	$ 0

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Benefit plan adjustments, income taxes	$ 5	$ 9
Unrealized loss on cash flow hedge, income taxes	$ 0	$ 0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,083)	$ (1,324)
Adjustments to reconcile net loss to net cash provided by used activities:
Depreciation and amortization	2,488	2,140
Gain on sale of assets	(16)	(42)
Restructuring expenses	(57)	(68)
Provision for deferred income taxes	97	(1,623)
Stock compensation expense	1,140	864
Net change in operating assets and liabilities	4,134	(643)
Net cash used by operating activities	9,802	(696)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant, and equipment	(3,690)	(2,237)
Proceeds from sale of fixed assets	0	2
Other, net	45	534
Net cash used by investing activities	(3,645)	(1,701)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under revolving loan arrangements	27,184	20,221
Repayments of revolving loan arrangements	(23,423)	(18,685)
Repayments of other long-term debt	(508)	(519)
Payments of finance lease obligations	(847)	(132)
Payments of withholding taxes on stock compensation	(1,763)	(168)
Net cash provided by financing activities	643	717
Effect of exchange rate changes on cash	365	2,373
Net change in cash	7,165	693
Cash:
Beginning of period	13,263	12,521
End of period	20,428	13,214
Boat Management System Product Line [Member]
Adjustments to reconcile net loss to net cash provided by used activities:
Loss on sale of boat management product line and related inventory	$ 3,099	$ 0

Note A - Basis of Presentation

Note A - Basis of Presentation	3 Months Ended
	Sep. 29, 2023
Notes to Financial Statements
Significant Accounting Policies [Text Block]	A. Basis of Presentation The unaudited condensed consolidated financial statements have been prepared by Twin Disc, Incorporated (the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, in the opinion of the Company, include adjustments, consisting primarily of normal recurring items, necessary for a fair statement of results for each period. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such SEC rules and regulations. The Company believes that the disclosures made are adequate to make the information presented not - June 30, 2023. not The Company's reporting period ends on the last Friday of the quarterly calendar period. The Company's fiscal year ends on June 30, June 30 Change in Accounting Method During the fourth 2023, not 10% second 20% fourth 2023, 2023, 10 Under the new accounting method, actuarial gains and losses are recognized in net periodic benefit cost through a modified mark-to-market (expense) benefit upon annual remeasurement in the fourth not 20% 10% 20% July 1, 2022, See Notes G, K, M and P for further information regarding the impact of the Accounting change on the Company’s current and prior consolidated financial statements. Recently Adopted Accounting Standards In March 2020 January 2021, 2020 04 2021 01, March 12, 2020, may December 31, 2022. not In June 2016, 2016 13 2018 19, 2019 04, 2019 05 2019 10 326 326 December 15, 2019, December 15, 2022 ( 2024 326 not Special Note Regarding Smaller Reporting Company Status Under SEC Release 33 10513; 34 83550,

Note B - Inventories

Note B - Inventories	3 Months Ended
	Sep. 29, 2023
Notes to Financial Statements
Inventory Disclosure [Text Block]	B. Inventories The major classes of inventories were as follows: September 29, 2023 June 30, 2023 Inventories: Finished parts $ 63,087 $ 66,956 Work in process 22,008 23,374 Raw materials 41,141 41,600 $ 126,236 $ 131,930 In the first 2024, one not

Note C - Warranty

Note C - Warranty	3 Months Ended
	Sep. 29, 2023
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	C. Warranty The Company engages in extensive product quality programs and processes, including actively monitoring and evaluating the quality of its suppliers. However, its warranty obligation is affected by product failure rates, the number of units affected by the failure and the expense involved in satisfactorily addressing the situation. The warranty reserve is established based on our best estimate of the amounts necessary to settle future and existing claims on products sold as of the balance sheet date. When evaluating the adequacy of the reserve for warranty costs, management takes into consideration the term of the warranty coverage, historical claim rates and costs of repair, knowledge of the type and volume of new products and economic trends. While we believe the warranty reserve is adequate and that the judgment applied is appropriate, such amounts estimated to be due and payable in the future could differ materially from what actually transpires. The following is a listing of the activity in the warranty reserve for the quarters ended September 29, 2023 September 30, 2022: For the Quarter Ended September 29, 2023 September 30, 2022 Reserve balance, beginning of period $ 3,476 $ 3,329 Current period expense and adjustments 1,516 908 Payments or credits to customers (821 ) (366 ) Translation (11 ) (67 ) Reserve balance, end of period $ 4,160 $ 3,804 The current portion of the warranty accrual ($3,409 and $3,331 as of September 29, 2023 September 30, 2022, September 29, 2023 September 30, 2022,

Note D - Contingencies

Note D - Contingencies	3 Months Ended
	Sep. 29, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	D. Contingencies The Company is involved in litigation of which the ultimate outcome and liability to the Company, if any, is not not

Note E - Business Segments

Note E - Business Segments	3 Months Ended
	Sep. 29, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	E. Business Segments The Company and its subsidiaries are engaged in the manufacture and sale of marine and heavy-duty off-highway power transmission equipment. Principal products include marine transmissions, azimuth drives, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches and controls systems. The Company sells to both domestic and foreign customers in a variety of market areas, principally pleasure craft, commercial and military marine markets, as well as in the energy and natural resources, government and industrial markets. The Company's worldwide sales to both domestic and foreign customers are transacted through a direct sales force and a distributor network. The Company has two Information about the Company’s segments is summarized as follows: For the Quarter Ended September 29, 2023 September 30, 2022 Net sales Manufacturing segment sales $ 54,537 $ 48,997 Distribution segment sales 32,853 24,307 Inter/Intra segment elimination – manufacturing (20,184 ) (13,643 ) Inter/Intra segment elimination – distribution (3,652 ) (3,748 ) $ 63,554 $ 55,913 Net (loss) income attributable to Twin Disc Manufacturing segment net income $ 1,558 $ 2,402 Distribution segment net income 1,006 956 Corporate and eliminations (3,737 ) (4,780 ) $ (1,173 ) $ (1,422 ) September 29, 2023 June 30, 2023 Assets Manufacturing segment assets $ 374,546 $ 381,668 Distribution segment assets 64,812 69,213 Corporate assets and elimination of intercompany assets (161,377 ) (161,700 ) $ 277,981 $ 289,181 Disaggregated revenue: The following table presents details deemed most relevant to the users of the financial statements for the quarters ended September 29, 2023 September 30, 2022. Net sales by product group for the quarter ended September 29, 2023 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 5,290 $ 1,028 $ (634 ) $ 5,684 Land-based transmissions 14,681 12,671 (8,774 ) $ 18,578 Marine and propulsion systems 34,566 16,320 (14,422 ) $ 36,464 Other - 2,834 (6 ) $ 2,828 Total $ 54,537 $ 32,853 $ (23,836 ) $ 63,554 Net sales by product group for the quarter ended September 30, 2022 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 6,692 $ 1,048 $ (709 ) $ 7,031 Land-based transmissions 16,287 4,606 (4,956 ) $ 15,937 Marine and propulsion systems 25,816 14,544 (11,022 ) $ 29,338 Other 202 4,109 (704 ) $ 3,607 Total $ 48,997 $ 24,307 $ (17,391 ) $ 55,913

Note F - Stock-based Compensati

Note F - Stock-based Compensation	3 Months Ended
	Sep. 29, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	F. Stock-Based Compensation Performance Stock Awards ( PSA ) During the first 2024 2023, 2024 three June 30, 2026. The fiscal 2023 three June 30, 2025. There were 334.1 and 433.2 unvested PSAs outstanding at September 29, 2023 September 30, 2022, September 29, 2023 September 30, 2022, September 29, 2023 September 29, 2023, 2024 2023 September 29, 2023 September 30, 2022 Performance Stock Unit Awards ( PSUA ) The PSUAs entitle an individual to shares of common stock of the Company or cash in lieu of shares of Company common stock if specific terms and conditions or restrictions are met through a specified date. During the first 2024 2023, 2024 three June 30, 2026. There were 10.5 and 0 unvested PSUAs outstanding at September 29, 2023 September 30, 2022, September 29, 2023 September 30, 2022, September 29, 2023 September 29, 2023, 2024 September 29, 2023 September 30, 2022 Restricted Stock Awards ( RS ) The Company has unvested RS awards outstanding that will vest if certain service conditions are fulfilled. The fair value of the RS grants is recorded as compensation expense over the vesting period, which is generally 1 3 first 2024 2023, September 29, 2023 September 30, 2022, three September 29, 2023 September 30, 2022, September 29, 2023 September 30, 2022, September 29, 2023 September 30, 2022 September 29, 2023, three Restricted Stock Unit Awards ( RSU ) The RSUs entitle an individual to shares of common stock of the Company or cash in lieu of shares of Company common stock if specific terms and conditions or restrictions are met through a specified date, generally three first 2024 2023, September 29, 2023 September 30, 2022, September 29, 2023 September 30, 2022, September 29, 2023 September 30, 2022 September 29, 2023 September 29, 2023, three

Note G - Pension and Other Post

Note G - Pension and Other Postretirement Benefit Plans	3 Months Ended
	Sep. 29, 2023
Notes to Financial Statements
Retirement Benefits [Text Block]	G. Pension and Other Postretirement Benefit Plans The Company has non-contributory, qualified defined benefit plans covering substantially all domestic employees hired prior to October 1, 2003 As discussed in Note A, during the fourth 2023, fourth The components of the net periodic benefit cost for the defined benefit pension plans and the other postretirement benefit plan are as follows: For the Quarter Ended September 29, 2023 September 30, 2022 Pension Benefits: Service cost $ 94 $ 101 Prior service cost - 8 Interest cost 896 868 Expected return on plan assets (1,048 ) (1,060 ) Amortization of transition obligation 10 9 Amortization of prior service cost 9 9 Amortization of actuarial net loss 16 10 Net periodic benefit cost $ (24 ) $ (55 ) Postretirement Benefits: Service cost $ 2 $ 2 Interest cost 48 53 Amortization of prior service cost (22 ) (69 ) Amortization of actuarial net loss (155 ) (10 ) Net periodic benefit gain $ (127 ) $ (24 ) The service cost component is included in cost of goods sold and marketing, engineering and administrative expenses. All other components of net periodic benefit cost are included in other expense (income), net. The Company expects to contribute approximately $645 to its pension plans in fiscal 2024. September 29 2023, The Company has reclassified ($171) (net of $5 in taxes) of benefit plan adjustments from accumulated other comprehensive loss during the quarter ended September 29, 2023, September 30, 2022.

Note H - Income Taxes

Note H - Income Taxes	3 Months Ended
	Sep. 29, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	H. Income Taxes Accounting policies for interim reporting require the Company to adjust its effective tax rate each quarter to be consistent with the estimated Annual Effective Tax Rate (AETR). Under this effective tax rate methodology, the Company applies an estimated annual income tax rate to its year-to-date ordinary earnings to derive its income tax provision each quarter. To calculate its AETR, an entity must estimate its ordinary income or loss and the related tax expense or benefit for its full fiscal year. In situations in which an entity is in a loss position and recognizes a full valuation allowance, the guidance in ASC 740 270 25 9 may 740 10 For the three September 29, 2023 September 30, 2022 no The Company maintains valuation allowances when it is more likely than not not no The Company has approximately $867 of unrecognized tax benefits, including interest and penalties, as of September 29, 2023, no September 29, 2023. twelve Annually, the Company files income tax returns in various taxing jurisdictions inside and outside the United States. In general, the tax years that remain subject to examination in foreign jurisdictions are 2018 2023. 2019. 2018. 2024.

Note I - Intangible Assets

Note I - Intangible Assets	3 Months Ended
	Sep. 29, 2023
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	I. Intangible Assets As of September 29, 2023, 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, 2023 $ 31,925 $ (19,288 ) $ 12,637 $ 6,553 $ 2,422 $ 668 $ 2,994 Addition - - - - - - - Reduction (89 ) - (89 ) - - - (89 ) Amortization - (819 ) (819 ) (312 ) (282 ) (39 ) (186 ) Translation adjustment (211 ) - (212 ) (197 ) (110 ) 22 73 Balance at September 29, 2023 $ 31,625 $ (20,107 ) $ 11,517 $ 6,044 $ 2,030 $ 651 $ 2,792 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 5 Intangible amortization expense was $819 and $698 for the quarters ended September 29, 2023, September 30, 2022, 2024 five Fiscal Year 2024 $ 2,517 2025 3,191 2026 2,247 2027 1,495 2028 1,346 2029 721 Thereafter 0

Note J - Long Term Debt

Note J - Long Term Debt	3 Months Ended
	Sep. 29, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	J. Long-term Debt Long-term debt at September 29, 2023 June 30, 2023 September 29, 2023 June 30, 2023 Credit Agreement Debt Revolving loans (expire June 2025) $ 10,633 $ 7,094 Term loan (due March 2026) 11,000 11,500 Other 24 33 Subtotal 21,657 18,627 Less: current maturities (2,002 ) (2,010 ) Total long-term debt $ 19,655 $ 16,617 Credit Agreement Debt: June 29, 2018, “2016 not may, not March 4, 2026, may not June 30, 2025. Under the Credit Agreement as amended, interest rates are based on either the secured overnight financing rate (“SOFR”) or the euro interbank offered rate (the “EURIBO Rate”). Loans are designated either as “SOFR Loans,” which accrue interest at an Adjusted Term SOFR plus an Applicable Margin, or “Eurodollar Loans,” which accrue interest at the EURIBO Rate plus an Applicable Margin. Amounts drawn on a Letter of Credit that are not The Credit Agreement, as amended, requires the Company to meet certain financial covenants. Specifically, the Company’s Total Funded Debt to EBITDA ratio may not 1.00, may not 1.00. may not 50% June 30, 2023. 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. To effect these security interests, the Company entered into various amendment and assignment agreements that consent to the assignment of certain agreements previously entered into between the Company and the Bank of Montreal in connection with the 2016 not The Company has 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. The Bank may not Upon the occurrence of an Event of Default, BMO may 1 2 3 may three The Company remains in compliance with its liquidity and other covenants. As of September 29, 2023, Other: three five During the quarter ended September 29, 2023, As of September 29, 2023, The Company’s borrowings described above approximate fair value at September 29, 2023 June 30, 2023. 2 The Company is party to an interest rate swap arrangement with Bank of Montreal, with an initial notional amount of $20,000 and a maturity date of March 4, 2026 September 29, 2023, 815, During the fourth 2021,

Note K - Shareholders' Equity

Note K - Shareholders' Equity	3 Months Ended
	Sep. 29, 2023
Notes to Financial Statements
Equity [Text Block]	K. Shareholders Equity The Company, from time to time, makes open market purchases of its common stock under authorizations given to it by the Board of Directors, of which 315.0 shares as of September 29, 2023 not September 29, 2023 September 30, 2022. As of July 1, 2022, See Notes A, G, M, and P for further information regarding the impact of the Accounting change on the Company’s prior year consolidated financial statements. The following is a reconciliation of the Company’s equity balances for the first 2023 2022: Twin Disc, Inc. Shareholders’ Equity Accumulated Other Non- Common Retained Comprehensive Treasury Controlling Total Stock Earnings Income (Loss) Stock Interest Equity Balance, June 30, 2023 $ 42,855 $ 120,299 $ (5,570 ) $ (12,491 ) $ 424 $ 145,517 Net (loss) income (1,173 ) 90 (1,083 ) Translation adjustments (3,096 ) 60 (3,036 ) Benefit plan adjustments, net of tax (171 ) (171 ) Unrealized loss on cash flow hedge, net of tax 216 216 Compensation expense 494 494 Stock awards, net of tax (3,911 ) 2,148 (1,995 ) Balance, September 29, 2023 $ 39,439 $ 119,126 $ (8,621 ) $ (10,343 ) $ 574 $ 140,175 Twin Disc, Inc. Shareholders’ Equity Accumulated Other Non- Common Retained Comprehensive Treasury Controlling Total Stock Earnings Income (Loss) Stock Interest Equity Balance, June 30, 2022 $ 42,551 $ 109,919 $ (6,974 ) $ (14,720 ) $ 412 $ 131,188 Net income (1,422 ) 98 (1,324 ) Translation adjustments (6,328 ) 38 (6,290 ) Benefit plan adjustments, net of tax (89 ) (89 ) Unrealized loss on cash flow hedge, net of tax 793 793 Compensation expense 658 658 Stock awards, net of tax (1,924 ) 1,756 (168 ) Balance, September 30, 2022 $ 41,285 $ 108,497 $ (12,598 ) $ (12,964 ) $ 548 $ 124,768 Reconciliations for the changes in accumulated other comprehensive income (loss), net of tax, by component for the quarters ended September 29, 2023 September 30, 2022 Translation Benefit Plan Cash Flow Net Investment Adjustment Adjustment Hedges Hedges Balance, June 30, 2023 $ (1,582 ) $ (5,948 ) $ 688 $ 1,272 Translation adjustment during the quarter (3,096 ) - - - Amounts reclassified from accumulated other comprehensive income - (171 ) (6 ) 222 Net current period other comprehensive (loss) income (3,096 ) (171 ) (6 ) 222 Balance, September 29, 2023 $ (4,678 ) $ (6,119 ) $ 682 $ 1,494 Translation Benefit Plan Cash Flow Net Investment Adjustment Adjustment Hedges Hedges Balance, June 30, 2022 $ (2,266 ) $ (6,614 ) $ 356 $ 1,550 Translation adjustment during the quarter (6,328 ) - - - Amounts reclassified from accumulated other comprehensive income - (89 ) 657 136 Net current period other comprehensive (loss) income (6,328 ) (89 ) 657 136 Balance, September 30, 2022 $ (8,594 ) $ (6,703 ) $ 1,013 $ 1,686 Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter ended September 29, 2023 Amount Reclassified Quarter Ended September 29, 2023 Changes in benefit plan items Actuarial losses $ (172 )(a) Transition asset and prior service benefit (4 )(a) Total amortization (176 ) Income tax expense 5 Total reclassification net of tax $ (171 ) Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter ended September 30, 2022 Amount Reclassified Quarter Ended September 30, 2022 Changes in benefit plan items Actuarial losses $ 560 (a) Transition asset and prior service benefit (51 )(a) Mark-to-market adjustment (607 ) Total amortization (98 ) Income tax expense 9 Total reclassification net of tax $ (89 ) (a) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note G, "Pension and Other Postretirement Benefit Plans" for further details).

Note L - Assets Held for Sale

Note L - Assets Held for Sale	3 Months Ended
	Sep. 29, 2023
Notes to Financial Statements
Assets Held-for-Sale [Text Block]	L. 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 several of its real estate properties. Such actions required the Company to reclassify these assets from Property, Plant and Equipment to Assets Held for Sale, at fair value less costs to sell, or net book value, whichever is lower. Fair value was determined using real estate broker estimates and would be classified as Level 3 fourth 2021. 2024. In the first 2023, 3 In the second 2023, In the first 2024, $2.1 October 30, 2023.

Note M - Earnings Per Share

Note M - Earnings Per Share	3 Months Ended
	Sep. 29, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	M. Earnings Per Share The Company calculates basic earnings per share based upon the weighted average number of common shares outstanding during the period, while the calculation of diluted earnings per share includes the dilutive effect of potential common shares outstanding during the period. The calculation of diluted earnings per share excludes all potential common shares if their inclusion would have an anti-dilutive effect. Certain restricted stock award recipients have a non-forfeitable right to receive dividends declared by the Company and are therefore included in computing earnings per share pursuant to the two As discussed in Note A, during the fourth 2023, fourth The components of basic and diluted earnings per share were as follows: As Adjusted September 29, 2023 September 30, 2022 Basic: Net loss $ (1,083 ) $ (1,324 ) Less: Net earnings attributable to noncontrolling interest (90 ) (98 ) Less: Undistributed earnings attributable to unvested shares - - Net loss attributable to Twin Disc (1,173 ) (1,422 ) Weighted average shares outstanding - basic 13,527 13,407 Basic Loss Per Share: Net loss per share - basic $ (0.09 ) $ (0.11 ) Diluted: Net loss $ (1,083 ) $ (1,324 ) Less: Net earnings attributable to noncontrolling interest (90 ) (98 ) Less: Undistributed earnings attributable to unvested shares - - Net loss attributable to Twin Disc (1,173 ) (1,422 ) Weighted average shares outstanding - basic 13,527 13,407 Effect of dilutive stock awards - - Weighted average shares outstanding - diluted 13,527 13,407 Diluted Loss Per Share: Net loss per share - diluted $ (0.09 ) $ (0.11 ) The following potential common shares were excluded from diluted EPS for the quarter ended September 29, 2023 The following potential common shares were excluded from diluted EPS for the quarter ended September 30, 2022

Note N - Lease Obligations

Note N - Lease Obligations	3 Months Ended
	Sep. 29, 2023
Notes to Financial Statements
Lessee, Operating and Finance Leases [Text Block]	N. Lease Liabilities The Company leases certain office and warehouse space, as well as production and office equipment. The Company determines if an arrangement is a lease at contract inception. The lease term begins upon lease commencement, which is when the Company takes possession of the asset, and may not The following table provides a summary of leases recorded on the condensed consolidated balance sheet. Balance Sheet Location September 29, 2023 June 30, 2023 Lease Assets Operating lease right-of-use assets Right-of-use assets operating leases $ 12,093 $ 13,133 Finance lease right-of-use assets Property, plant and equipment, net 4,952 $ 4,427 Lease Liabilities Operating lease liabilities Accrued liabilities $ 2,218 $ 2,343 Operating lease liabilities Lease obligations 9,896 $ 10,811 Finance lease liabilities Accrued liabilities 670 $ 643 Finance lease liabilities Other long-term liabilities 4,556 $ 4,314 The components of lease expense were as follows: For the Quarter Ended September 29, 2023 September 30, 2022 Finance lease cost: Amortization of right-of-use assets $ 222 $ 155 Interest on lease liabilities 73 64 Operating lease cost 893 711 Short-term lease cost 3 13 Variable lease cost 100 40 Total lease cost 1,291 983 Less: Sublease income (20 ) (17 ) Net lease cost $ 1,271 $ 966 Other information related to leases was as follows: For the Quarter Ended September 29, 2023 September 30, 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 924 $ 748 Operating cash flows from finance leases 73 201 Financing cash flows from finance leases 847 132 Right-of-use-assets obtained in exchange for lease obligations: Operating leases 15 528 Finance leases 484 51 Weighted average remaining lease term (years): Operating leases 8.2 8.8 Finance lease 9.7 11.4 Weighted average discount rate: Operating leases 7.6 % 7.2 % Finance leases 5.7 % 5.2 % Approximate future minimum rental commitments under non-cancellable leases as of September 29, 2023 Operating Leases Finance Leases 2024 $ 2,396 $ 740 2025 2,143 806 2026 1,672 744 2027 1,608 679 2028 1,587 619 2029 1,572 476 Thereafter 5,602 2,655 Total future lease payments 16,580 6,719 Less: Amount representing interest (4,466 ) (1,493 ) Present value of future payments $ 12,114 $ 5,226

Note O - Derivative Financial I

Note O - Derivative Financial Instruments	3 Months Ended
	Sep. 29, 2023
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	O. Derivative Financial Instruments From time to time, the Company enters into derivative instruments to manage volatility arising from risks relating to interest rates and foreign currency exchange rates. The Company does not no The Company reports all derivative instruments on its condensed consolidated balance sheets at fair value and establishes criteria for designation and effectiveness of transactions entered into for hedging purposes. Interest Rate Swap Contracts The Company has one outstanding interest rate swap contract as of September 29, 2023, 815, The primary purpose of the Company’s cash flow hedging activities is to manage the potential changes in value associated with interest payments on the Company’s SOFR-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 condensed consolidated statements of operations and comprehensive (loss) income. 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 gains related to cash flow hedging activities that were included in accumulated other comprehensive loss were ($682) and ($688) as of September 29, 2023, June 30, 2023, The Company estimates that $284 of net unrealized losses related to cash flow hedging activities included in accumulated other comprehensive loss as of September 29, 2023 twelve Derivatives Designated as Net Investment Hedges The Company is exposed to foreign currency exchange rate risk related to its investment in net assets in foreign countries. During the fourth 2021, €13,000, September 29, 2023 June 30, 2023, Fair Value of Derivative Instruments The fair value of derivative instruments included in the condensed consolidated balance sheets were as follows: Balance Sheet Location September 29, 2023 June 30, 2023 Derivative designated as hedge: Interest rate swap Other current assets $ 268 $ 292 Interest rate swap Other noncurrent assets 205 187 The impact of the Company’s derivative instruments on the condensed consolidated statements of operations and comprehensive (loss) income for the quarters ended September 29, 2023 September 30, 2022, Statement of Operations and Comprehensive For the Quarter Ended (Loss) Income Location September 29, 2023 September 30, 2022 Derivative designated as hedge: Interest rate swap Interest expense $ 71 $ 84 Interest rate swap Unrealized loss on hedges (6 ) 349 Net investment hedge Unrealized loss on hedges 222 444

Note P - Impact of Accounting M

Note P - Impact of Accounting Method Change	3 Months Ended
	Sep. 29, 2023
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	P. IMPACT OF ACCOUNTING METHOD CHANGE The following tables summarize the effects of the Accounting change described in Note A on the Company’s condensed consolidated statement of operations and comprehensive loss, statement of cash flows and statement of changes in equity for the quarter ended September 30, 2022 September 30, 2022. CONDENSED CONSOLIDATED STATEMENT OF OPERATION AND COMPREHENSIVE LOSS September 30, 2022 As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method Net sales $ 55,913 $ - $ 55,913 Cost of goods sold 42,616 - 42,616 Gross profit 13,297 - 13,297 Marketing, engineering and administrative expenses 15,090 - 15,090 Loss from operations (1,793 ) - (1,793 ) Other Income (expense): Interest expense (566 ) - (566 ) Other income, net (260 ) 607 347 (826 ) 607 (219 ) Income before income taxes and noncontrolling interest (2,619 ) 607 (2,012 ) Income tax expense (688 ) - (688 ) Net loss (1,931 ) 607 (1,324 ) Less: Net loss attributable to noncontrolling interest, net of tax (98 ) - (98 ) Net loss attributable to Twin Disc $ (2,029 ) $ 607 $ (1,422 ) Loss per share data: Basic loss per share attributable to Twin Disc common shareholders $ (0.15 ) $ 0.04 $ (0.11 ) Diluted loss per share attributable to Twin Disc common shareholders $ (0.15 ) $ 0.04 $ (0.11 ) Weighted average shares outstanding data: Basic shares outstanding 13,407 - 13,407 Diluted shares outstanding 13,407 - 13,407 Comprehensive income (loss) Net loss $ (1,931 ) $ 607 $ (1,324 ) Benefit plan adjustments, net of income taxes of $9 518 (607 ) (89 ) Foreign currency translation adjustment (6,290 ) - (6,290 ) Unrealized loss on hedges, net of income taxes of $0, respectively 793 - 793 Comprehensive loss (6,910 ) - (6,910 ) Less: Comprehensive income attributable to noncontrolling interest 136 - 136 Comprehensive loss attributable to Twin Disc $ (7,046 ) $ - $ (7,046 ) CONDENSED ONSOLIDATED CONDENSED BALANCE SHEET September 30, 2022 As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method ASSETS Current assets: Cash $ 13,214 $ - $ 13,214 Trade accounts receivable, net 40,007 - 40,007 Inventories 128,100 - 128,100 Assets held for sale 5,769 - 5,769 Prepaid expenses 8,207 - 8,207 Other 6,521 - 6,521 Total current assets 201,818 - 201,818 Property, plant and equipment, net 38,989 - 38,989 Right-of-use assets operating leases 11,492 - 11,492 Intangible assets, net 11,560 - 11,560 Deferred income taxes 2,846 - 2,846 Other assets 2,846 - 2,846 Total assets $ 269,551 $ - $ 269,551 LIABILITIES AND EQUITY Current liabilities: Current maturities of long-term debt $ 2,000 $ - $ 2,000 Accounts payable 30,706 - 30,706 Accrued liabilities 49,158 - 49,158 Total current liabilities 81,864 - 81,864 Long-term debt 35,112 - 35,112 Lease obligations 9,483 - 9,483 Accrued retirement benefits 9,860 - 9,860 Deferred income taxes 3,422 - 3,422 Other long-term liabilities 5,042 - 5,042 Total liabilities 144,783 - 144,783 Twin Disc shareholders' equity: Preferred shares authorized: 200,000; issued: none; no par value - - - Common shares authorized: 30,000,000; issued: 14,632,802; no par value 41,285 - 41,285 Retained earnings 133,002 (24,505 ) 108,497 Accumulated other comprehensive loss (37,103 ) 24,505 (12,598 ) 137,184 - 137,184 Less treasury stock, at cost (845,670 shares, respectively) 12,964 - 12,964 Total Twin Disc shareholders' equity 124,220 - 124,220 Noncontrolling interest 548 - 548 Total equity 124,768 - 124,768 Total liabilities and equity $ 269,551 $ - $ 269,551 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS September 30, 2022 As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (1,931 ) $ 607 $ (1,324 ) Adjustments to reconcile net loss to net cash provided by used activities: Depreciation and amortization 2,140 - 2,140 Gain on sale of assets (42 ) - (42 ) Restructuring expenses (68 ) - (68 ) Provision for deferred income taxes (1,623 ) - (1,623 ) Stock compensation expense 864 - 864 Net change in operating assets and liabilities (36 ) (607 ) (643 ) Net cash used by operating activities (696 ) - (696 ) CASH FLOWS FROM INVESTING ACTIVITIES: Acquisition of property, plant, and equipment (2,237 ) - (2,237 ) Proceeds from sale of fixed assets 2 - 2 Proceeds on note receivable - - - Other, net 534 - 534 Net cash used by investing activities (1,701 ) - (1,701 ) CASH FLOWS FROM FINANCING ACTIVITIES: Borrowings under revolving loan arrangements 20,221 - 20,221 Repayments of revolving loan arrangements (18,685 ) - (18,685 ) Repayments of other long-term debt (651 ) 132 (519 ) Payments of finance lease obligations - (132 ) (132 ) Payments of withholding taxes on stock compensation (168 ) - (168 ) Net cash provided by financing activities 717 - 717 Effect of exchange rate changes on cash 2,373 - 2,373 Net change in cash 693 - 693 Cash: Beginning of period 12,521 - 12,521 End of period $ 13,214 $ - $ 13,214 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY September 30, 2022 As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method Retained earnings Balance at June 30, 2022 135,031 (25,112 ) 109,919 Net loss attributable to Twin Disc (2,029 ) 607 (1,422 ) Balance at September 30, 2022 $ 133,002 $ (24,505 ) $ 108,497 Accumulated other comprehensive loss Balance at June 30, 2022 (32,086 ) 25,112 (6,974 ) Translation adjustments (6,328 ) - (6,328 ) Benefit plan adjustments, net of tax 518 (607 ) (89 ) Unrealized gain on hedges, net of tax 793 - 793 Balance at September 30, 2022 $ (37,103 ) $ 24,505 $ (12,598 )

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 29, 2023
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Change in Accounting Method During the fourth 2023, not 10% second 20% fourth 2023, 2023, 10 Under the new accounting method, actuarial gains and losses are recognized in net periodic benefit cost through a modified mark-to-market (expense) benefit upon annual remeasurement in the fourth not 20% 10% 20% July 1, 2022, See Notes G, K, M and P for further information regarding the impact of the Accounting change on the Company’s current and prior consolidated financial statements.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards In March 2020 January 2021, 2020 04 2021 01, March 12, 2020, may December 31, 2022. not In June 2016, 2016 13 2018 19, 2019 04, 2019 05 2019 10 326 326 December 15, 2019, December 15, 2022 ( 2024 326 not
Reporting Status [Policy Text Block]	Special Note Regarding Smaller Reporting Company Status Under SEC Release 33 10513; 34 83550,

Note B - Inventories (Tables)

Note B - Inventories (Tables)	3 Months Ended
	Sep. 29, 2023
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 29, 2023 June 30, 2023 Inventories: Finished parts $ 63,087 $ 66,956 Work in process 22,008 23,374 Raw materials 41,141 41,600 $ 126,236 $ 131,930

Note C - Warranty (Tables)

Note C - Warranty (Tables)	3 Months Ended
	Sep. 29, 2023
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	For the Quarter Ended September 29, 2023 September 30, 2022 Reserve balance, beginning of period $ 3,476 $ 3,329 Current period expense and adjustments 1,516 908 Payments or credits to customers (821 ) (366 ) Translation (11 ) (67 ) Reserve balance, end of period $ 4,160 $ 3,804

Note E - Business Segments (Tab

Note E - Business Segments (Tables)	3 Months Ended
	Sep. 29, 2023
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	For the Quarter Ended September 29, 2023 September 30, 2022 Net sales Manufacturing segment sales $ 54,537 $ 48,997 Distribution segment sales 32,853 24,307 Inter/Intra segment elimination – manufacturing (20,184 ) (13,643 ) Inter/Intra segment elimination – distribution (3,652 ) (3,748 ) $ 63,554 $ 55,913 Net (loss) income attributable to Twin Disc Manufacturing segment net income $ 1,558 $ 2,402 Distribution segment net income 1,006 956 Corporate and eliminations (3,737 ) (4,780 ) $ (1,173 ) $ (1,422 ) Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 5,290 $ 1,028 $ (634 ) $ 5,684 Land-based transmissions 14,681 12,671 (8,774 ) $ 18,578 Marine and propulsion systems 34,566 16,320 (14,422 ) $ 36,464 Other - 2,834 (6 ) $ 2,828 Total $ 54,537 $ 32,853 $ (23,836 ) $ 63,554 Elimination of Manufacturing Distribution Intercompany Sales Total Industrial $ 6,692 $ 1,048 $ (709 ) $ 7,031 Land-based transmissions 16,287 4,606 (4,956 ) $ 15,937 Marine and propulsion systems 25,816 14,544 (11,022 ) $ 29,338 Other 202 4,109 (704 ) $ 3,607 Total $ 48,997 $ 24,307 $ (17,391 ) $ 55,913
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	September 29, 2023 June 30, 2023 Assets Manufacturing segment assets $ 374,546 $ 381,668 Distribution segment assets 64,812 69,213 Corporate assets and elimination of intercompany assets (161,377 ) (161,700 ) $ 277,981 $ 289,181

Note G - Pension and Other Po_2

Note G - Pension and Other Postretirement Benefit Plans (Tables)	3 Months Ended
	Sep. 29, 2023
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	For the Quarter Ended September 29, 2023 September 30, 2022 Pension Benefits: Service cost $ 94 $ 101 Prior service cost - 8 Interest cost 896 868 Expected return on plan assets (1,048 ) (1,060 ) Amortization of transition obligation 10 9 Amortization of prior service cost 9 9 Amortization of actuarial net loss 16 10 Net periodic benefit cost $ (24 ) $ (55 ) Postretirement Benefits: Service cost $ 2 $ 2 Interest cost 48 53 Amortization of prior service cost (22 ) (69 ) Amortization of actuarial net loss (155 ) (10 ) Net periodic benefit gain $ (127 ) $ (24 )

Note I - Intangible Assets (Tab

Note I - Intangible Assets (Tables)	3 Months Ended
	Sep. 29, 2023
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, 2023 $ 31,925 $ (19,288 ) $ 12,637 $ 6,553 $ 2,422 $ 668 $ 2,994 Addition - - - - - - - Reduction (89 ) - (89 ) - - - (89 ) Amortization - (819 ) (819 ) (312 ) (282 ) (39 ) (186 ) Translation adjustment (211 ) - (212 ) (197 ) (110 ) 22 73 Balance at September 29, 2023 $ 31,625 $ (20,107 ) $ 11,517 $ 6,044 $ 2,030 $ 651 $ 2,792
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Fiscal Year 2024 $ 2,517 2025 3,191 2026 2,247 2027 1,495 2028 1,346 2029 721 Thereafter 0

Note J - Long Term Debt (Tables

Note J - Long Term Debt (Tables)	3 Months Ended
	Sep. 29, 2023
Notes Tables
Schedule of Debt [Table Text Block]	September 29, 2023 June 30, 2023 Credit Agreement Debt Revolving loans (expire June 2025) $ 10,633 $ 7,094 Term loan (due March 2026) 11,000 11,500 Other 24 33 Subtotal 21,657 18,627 Less: current maturities (2,002 ) (2,010 ) Total long-term debt $ 19,655 $ 16,617

Note K - Shareholders' Equity (

Note K - Shareholders' Equity (Tables)	3 Months Ended
	Sep. 29, 2023
Notes Tables
Schedule of Stockholders Equity [Table Text Block]	Twin Disc, Inc. Shareholders’ Equity Accumulated Other Non- Common Retained Comprehensive Treasury Controlling Total Stock Earnings Income (Loss) Stock Interest Equity Balance, June 30, 2023 $ 42,855 $ 120,299 $ (5,570 ) $ (12,491 ) $ 424 $ 145,517 Net (loss) income (1,173 ) 90 (1,083 ) Translation adjustments (3,096 ) 60 (3,036 ) Benefit plan adjustments, net of tax (171 ) (171 ) Unrealized loss on cash flow hedge, net of tax 216 216 Compensation expense 494 494 Stock awards, net of tax (3,911 ) 2,148 (1,995 ) Balance, September 29, 2023 $ 39,439 $ 119,126 $ (8,621 ) $ (10,343 ) $ 574 $ 140,175 Twin Disc, Inc. Shareholders’ Equity Accumulated Other Non- Common Retained Comprehensive Treasury Controlling Total Stock Earnings Income (Loss) Stock Interest Equity Balance, June 30, 2022 $ 42,551 $ 109,919 $ (6,974 ) $ (14,720 ) $ 412 $ 131,188 Net income (1,422 ) 98 (1,324 ) Translation adjustments (6,328 ) 38 (6,290 ) Benefit plan adjustments, net of tax (89 ) (89 ) Unrealized loss on cash flow hedge, net of tax 793 793 Compensation expense 658 658 Stock awards, net of tax (1,924 ) 1,756 (168 ) Balance, September 30, 2022 $ 41,285 $ 108,497 $ (12,598 ) $ (12,964 ) $ 548 $ 124,768
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, June 30, 2023 $ (1,582 ) $ (5,948 ) $ 688 $ 1,272 Translation adjustment during the quarter (3,096 ) - - - Amounts reclassified from accumulated other comprehensive income - (171 ) (6 ) 222 Net current period other comprehensive (loss) income (3,096 ) (171 ) (6 ) 222 Balance, September 29, 2023 $ (4,678 ) $ (6,119 ) $ 682 $ 1,494 Translation Benefit Plan Cash Flow Net Investment Adjustment Adjustment Hedges Hedges Balance, June 30, 2022 $ (2,266 ) $ (6,614 ) $ 356 $ 1,550 Translation adjustment during the quarter (6,328 ) - - - Amounts reclassified from accumulated other comprehensive income - (89 ) 657 136 Net current period other comprehensive (loss) income (6,328 ) (89 ) 657 136 Balance, September 30, 2022 $ (8,594 ) $ (6,703 ) $ 1,013 $ 1,686
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amount Reclassified Quarter Ended September 29, 2023 Changes in benefit plan items Actuarial losses $ (172 )(a) Transition asset and prior service benefit (4 )(a) Total amortization (176 ) Income tax expense 5 Total reclassification net of tax $ (171 ) Amount Reclassified Quarter Ended September 30, 2022 Changes in benefit plan items Actuarial losses $ 560 (a) Transition asset and prior service benefit (51 )(a) Mark-to-market adjustment (607 ) Total amortization (98 ) Income tax expense 9 Total reclassification net of tax $ (89 )

Note M - Earnings Per Share (Ta

Note M - Earnings Per Share (Tables)	3 Months Ended
	Sep. 29, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	As Adjusted September 29, 2023 September 30, 2022 Basic: Net loss $ (1,083 ) $ (1,324 ) Less: Net earnings attributable to noncontrolling interest (90 ) (98 ) Less: Undistributed earnings attributable to unvested shares - - Net loss attributable to Twin Disc (1,173 ) (1,422 ) Weighted average shares outstanding - basic 13,527 13,407 Basic Loss Per Share: Net loss per share - basic $ (0.09 ) $ (0.11 ) Diluted: Net loss $ (1,083 ) $ (1,324 ) Less: Net earnings attributable to noncontrolling interest (90 ) (98 ) Less: Undistributed earnings attributable to unvested shares - - Net loss attributable to Twin Disc (1,173 ) (1,422 ) Weighted average shares outstanding - basic 13,527 13,407 Effect of dilutive stock awards - - Weighted average shares outstanding - diluted 13,527 13,407 Diluted Loss Per Share: Net loss per share - diluted $ (0.09 ) $ (0.11 )

Note N - Lease Obligations (Tab

Note N - Lease Obligations (Tables)	3 Months Ended
	Sep. 29, 2023
Notes Tables
Assets and Liabilities, Lessee [Table Text Block]	Balance Sheet Location September 29, 2023 June 30, 2023 Lease Assets Operating lease right-of-use assets Right-of-use assets operating leases $ 12,093 $ 13,133 Finance lease right-of-use assets Property, plant and equipment, net 4,952 $ 4,427 Lease Liabilities Operating lease liabilities Accrued liabilities $ 2,218 $ 2,343 Operating lease liabilities Lease obligations 9,896 $ 10,811 Finance lease liabilities Accrued liabilities 670 $ 643 Finance lease liabilities Other long-term liabilities 4,556 $ 4,314
Lease, Cost [Table Text Block]	For the Quarter Ended September 29, 2023 September 30, 2022 Finance lease cost: Amortization of right-of-use assets $ 222 $ 155 Interest on lease liabilities 73 64 Operating lease cost 893 711 Short-term lease cost 3 13 Variable lease cost 100 40 Total lease cost 1,291 983 Less: Sublease income (20 ) (17 ) Net lease cost $ 1,271 $ 966
Operating and Finance Leases, Other Disclosures [Table Text Block]	For the Quarter Ended September 29, 2023 September 30, 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 924 $ 748 Operating cash flows from finance leases 73 201 Financing cash flows from finance leases 847 132 Right-of-use-assets obtained in exchange for lease obligations: Operating leases 15 528 Finance leases 484 51 Weighted average remaining lease term (years): Operating leases 8.2 8.8 Finance lease 9.7 11.4 Weighted average discount rate: Operating leases 7.6 % 7.2 % Finance leases 5.7 % 5.2 %
Schedule of Future Minimum Rental Payments for Operating Leases and Finance Lease, Liability, Maturity [Table Text Block]	Operating Leases Finance Leases 2024 $ 2,396 $ 740 2025 2,143 806 2026 1,672 744 2027 1,608 679 2028 1,587 619 2029 1,572 476 Thereafter 5,602 2,655 Total future lease payments 16,580 6,719 Less: Amount representing interest (4,466 ) (1,493 ) Present value of future payments $ 12,114 $ 5,226

Note O - Derivative Financial_2

Note O - Derivative Financial Instruments (Tables)	3 Months Ended
	Sep. 29, 2023
Notes Tables
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	Balance Sheet Location September 29, 2023 June 30, 2023 Derivative designated as hedge: Interest rate swap Other current assets $ 268 $ 292 Interest rate swap Other noncurrent assets 205 187
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]	Statement of Operations and Comprehensive For the Quarter Ended (Loss) Income Location September 29, 2023 September 30, 2022 Derivative designated as hedge: Interest rate swap Interest expense $ 71 $ 84 Interest rate swap Unrealized loss on hedges (6 ) 349 Net investment hedge Unrealized loss on hedges 222 444

Note P - Impact of Accounting_2

Note P - Impact of Accounting Method Change (Tables)	3 Months Ended
	Sep. 29, 2023
Notes Tables
Accounting Standards Update and Change in Accounting Principle [Table Text Block]	September 30, 2022 As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method Net sales $ 55,913 $ - $ 55,913 Cost of goods sold 42,616 - 42,616 Gross profit 13,297 - 13,297 Marketing, engineering and administrative expenses 15,090 - 15,090 Loss from operations (1,793 ) - (1,793 ) Other Income (expense): Interest expense (566 ) - (566 ) Other income, net (260 ) 607 347 (826 ) 607 (219 ) Income before income taxes and noncontrolling interest (2,619 ) 607 (2,012 ) Income tax expense (688 ) - (688 ) Net loss (1,931 ) 607 (1,324 ) Less: Net loss attributable to noncontrolling interest, net of tax (98 ) - (98 ) Net loss attributable to Twin Disc $ (2,029 ) $ 607 $ (1,422 ) Loss per share data: Basic loss per share attributable to Twin Disc common shareholders $ (0.15 ) $ 0.04 $ (0.11 ) Diluted loss per share attributable to Twin Disc common shareholders $ (0.15 ) $ 0.04 $ (0.11 ) Weighted average shares outstanding data: Basic shares outstanding 13,407 - 13,407 Diluted shares outstanding 13,407 - 13,407 Comprehensive income (loss) Net loss $ (1,931 ) $ 607 $ (1,324 ) Benefit plan adjustments, net of income taxes of $9 518 (607 ) (89 ) Foreign currency translation adjustment (6,290 ) - (6,290 ) Unrealized loss on hedges, net of income taxes of $0, respectively 793 - 793 Comprehensive loss (6,910 ) - (6,910 ) Less: Comprehensive income attributable to noncontrolling interest 136 - 136 Comprehensive loss attributable to Twin Disc $ (7,046 ) $ - $ (7,046 ) September 30, 2022 As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method ASSETS Current assets: Cash $ 13,214 $ - $ 13,214 Trade accounts receivable, net 40,007 - 40,007 Inventories 128,100 - 128,100 Assets held for sale 5,769 - 5,769 Prepaid expenses 8,207 - 8,207 Other 6,521 - 6,521 Total current assets 201,818 - 201,818 Property, plant and equipment, net 38,989 - 38,989 Right-of-use assets operating leases 11,492 - 11,492 Intangible assets, net 11,560 - 11,560 Deferred income taxes 2,846 - 2,846 Other assets 2,846 - 2,846 Total assets $ 269,551 $ - $ 269,551 LIABILITIES AND EQUITY Current liabilities: Current maturities of long-term debt $ 2,000 $ - $ 2,000 Accounts payable 30,706 - 30,706 Accrued liabilities 49,158 - 49,158 Total current liabilities 81,864 - 81,864 Long-term debt 35,112 - 35,112 Lease obligations 9,483 - 9,483 Accrued retirement benefits 9,860 - 9,860 Deferred income taxes 3,422 - 3,422 Other long-term liabilities 5,042 - 5,042 Total liabilities 144,783 - 144,783 Twin Disc shareholders' equity: Preferred shares authorized: 200,000; issued: none; no par value - - - Common shares authorized: 30,000,000; issued: 14,632,802; no par value 41,285 - 41,285 Retained earnings 133,002 (24,505 ) 108,497 Accumulated other comprehensive loss (37,103 ) 24,505 (12,598 ) 137,184 - 137,184 Less treasury stock, at cost (845,670 shares, respectively) 12,964 - 12,964 Total Twin Disc shareholders' equity 124,220 - 124,220 Noncontrolling interest 548 - 548 Total equity 124,768 - 124,768 Total liabilities and equity $ 269,551 $ - $ 269,551 September 30, 2022 As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (1,931 ) $ 607 $ (1,324 ) Adjustments to reconcile net loss to net cash provided by used activities: Depreciation and amortization 2,140 - 2,140 Gain on sale of assets (42 ) - (42 ) Restructuring expenses (68 ) - (68 ) Provision for deferred income taxes (1,623 ) - (1,623 ) Stock compensation expense 864 - 864 Net change in operating assets and liabilities (36 ) (607 ) (643 ) Net cash used by operating activities (696 ) - (696 ) CASH FLOWS FROM INVESTING ACTIVITIES: Acquisition of property, plant, and equipment (2,237 ) - (2,237 ) Proceeds from sale of fixed assets 2 - 2 Proceeds on note receivable - - - Other, net 534 - 534 Net cash used by investing activities (1,701 ) - (1,701 ) CASH FLOWS FROM FINANCING ACTIVITIES: Borrowings under revolving loan arrangements 20,221 - 20,221 Repayments of revolving loan arrangements (18,685 ) - (18,685 ) Repayments of other long-term debt (651 ) 132 (519 ) Payments of finance lease obligations - (132 ) (132 ) Payments of withholding taxes on stock compensation (168 ) - (168 ) Net cash provided by financing activities 717 - 717 Effect of exchange rate changes on cash 2,373 - 2,373 Net change in cash 693 - 693 Cash: Beginning of period 12,521 - 12,521 End of period $ 13,214 $ - $ 13,214 September 30, 2022 As Computed Under Previous Method Effect of Accounting Change As Reported Under New Method Retained earnings Balance at June 30, 2022 135,031 (25,112 ) 109,919 Net loss attributable to Twin Disc (2,029 ) 607 (1,422 ) Balance at September 30, 2022 $ 133,002 $ (24,505 ) $ 108,497 Accumulated other comprehensive loss Balance at June 30, 2022 (32,086 ) 25,112 (6,974 ) Translation adjustments (6,328 ) - (6,328 ) Benefit plan adjustments, net of tax 518 (607 ) (89 ) Unrealized gain on hedges, net of tax 793 - 793 Balance at September 30, 2022 $ (37,103 ) $ 24,505 $ (12,598 )

Note A - Basis of Presentation

Note A - Basis of Presentation (Details Textual) - USD ($) $ in Thousands	Sep. 29, 2023	Jun. 30, 2023	Sep. 30, 2022	Jul. 01, 2022
Retained Earnings (Accumulated Deficit)	$ 119,126	$ 120,299	$ 108,497
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (8,621)	$ (5,570)	(12,598)
Revision of Prior Period, Change in Accounting Principle, Adjustment [Member]
Retained Earnings (Accumulated Deficit)			(24,505)	$ (25,100)
Accumulated Other Comprehensive Income (Loss), Net of Tax			$ 24,505	25,100
AOCI Including Portion Attributable to Noncontrolling Interest, Tax				0
Deferred Tax Assets, Gross				7,900
Deferred Tax Assets, Valuation Allowance				$ 7,900
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)		10 years

Note B - Inventories (Details T

Note B - Inventories (Details Textual) - Boat Management System Product Line [Member] $ in Millions	3 Months Ended
	Sep. 29, 2023 USD ($)
Inventory Write-down	$ 2.1
UNITED STATES
Inventory Write-down	$ 1.6

Note B - Inventories - Inventor

Note B - Inventories - Inventories (Details) - USD ($) $ in Thousands	Sep. 29, 2023	Jun. 30, 2023	Sep. 30, 2022
Finished parts	$ 63,087	$ 66,956
Work in process	22,008	23,374
Raw materials	41,141	41,600
Total inventories	$ 126,236	$ 131,930	$ 128,100

Note C - Warranty (Details Text

Note C - Warranty (Details Textual) - USD ($) $ in Thousands	Sep. 29, 2023	Sep. 30, 2022
Product Warranty Accrual, Current	$ 3,409	$ 3,331
Product Warranty Accrual, Noncurrent	$ 751	$ 473

Note C - Warranty - Warranty (D

Note C - Warranty - Warranty (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Reserve balance, beginning of period	$ 3,476	$ 3,329
Current period expense and adjustments	1,516	908
Payments or credits to customers	(821)	(366)
Translation	(11)	(67)
Reserve balance, end of period	$ 4,160	$ 3,804

Note E - Business Segments (Det

Note E - Business Segments (Details Textual)	3 Months Ended
	Sep. 29, 2023
Number of Reportable Segments	2

Note E - Business Segments - Re

Note E - Business Segments - Revenues by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 29, 2023	Sep. 30, 2022
Net sales	$ 63,554	$ 63,554	$ 55,913
Manufacturing segment net income	(1,173)	(1,173)	(1,422)
Net Sales	$ 63,554	63,554	55,913
Industrial [Member]
Net sales		5,684	7,031
Net Sales		5,684	7,031
Land Based Transmissions [Member]
Net sales		18,578	15,937
Net Sales		18,578	15,937
Marine and Propulsion Systems [Member]
Net sales		36,464	29,338
Net Sales		36,464	29,338
Other [Member]
Net sales		2,828	3,607
Net Sales		2,828	3,607
Intersegment Eliminations [Member]
Net sales		(23,836)	(17,391)
Net Sales		(23,836)	(17,391)
Intersegment Eliminations [Member] | Industrial [Member]
Net sales		(634)	(709)
Net Sales		(634)	(709)
Intersegment Eliminations [Member] | Land Based Transmissions [Member]
Net sales		(8,774)	(4,956)
Net Sales		(8,774)	(4,956)
Intersegment Eliminations [Member] | Marine and Propulsion Systems [Member]
Net sales		(14,422)	(11,022)
Net Sales		(14,422)	(11,022)
Intersegment Eliminations [Member] | Other [Member]
Net sales		(6)	(704)
Net Sales		(6)	(704)
Corporate, Non-Segment [Member]
Manufacturing segment net income		(3,737)	(4,780)
Manufacturing Segment [Member] | Operating Segments [Member]
Net sales		54,537	48,997
Manufacturing segment net income		1,558	2,402
Net Sales		54,537	48,997
Manufacturing Segment [Member] | Operating Segments [Member] | Industrial [Member]
Net sales		5,290	6,692
Net Sales		5,290	6,692
Manufacturing Segment [Member] | Operating Segments [Member] | Land Based Transmissions [Member]
Net sales		14,681	16,287
Net Sales		14,681	16,287
Manufacturing Segment [Member] | Operating Segments [Member] | Marine and Propulsion Systems [Member]
Net sales		34,566	25,816
Net Sales		34,566	25,816
Manufacturing Segment [Member] | Operating Segments [Member] | Other [Member]
Net sales		0	202
Net Sales		0	202
Manufacturing Segment [Member] | Intersegment Eliminations [Member]
Net sales		(20,184)	(13,643)
Net Sales		(20,184)	(13,643)
Distribution Segment [Member] | Operating Segments [Member]
Net sales		32,853	24,307
Manufacturing segment net income		1,006	956
Net Sales		32,853	24,307
Distribution Segment [Member] | Operating Segments [Member] | Industrial [Member]
Net sales		1,028	1,048
Net Sales		1,028	1,048
Distribution Segment [Member] | Operating Segments [Member] | Land Based Transmissions [Member]
Net sales		12,671	4,606
Net Sales		12,671	4,606
Distribution Segment [Member] | Operating Segments [Member] | Marine and Propulsion Systems [Member]
Net sales		16,320	14,544
Net Sales		16,320	14,544
Distribution Segment [Member] | Operating Segments [Member] | Other [Member]
Net sales		2,834	4,109
Net Sales		2,834	4,109
Distribution Segment [Member] | Intersegment Eliminations [Member]
Net sales		(3,652)	(3,748)
Net Sales		$ (3,652)	$ (3,748)

Note E - Business Segments - As

Note E - Business Segments - Assets by Segment (Details) - USD ($) $ in Thousands	Sep. 29, 2023	Jun. 30, 2023	Sep. 30, 2022
Segment Assets	$ 277,981	$ 289,181	$ 269,551
Operating Segments [Member] | Manufacturing Segment [Member]
Segment Assets	374,546	381,668
Operating Segments [Member] | Distribution Segment [Member]
Segment Assets	64,812	69,213
Corporate, Non-Segment [Member]
Segment Assets	$ (161,377)	$ (161,700)

Note F - Stock-based Compensa_2

Note F - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Jun. 30, 2023
Performance Stock Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	119.3	112.4
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	3 years	3 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)	238.7		224.8
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares)	334.1	433.2
Share-Based Payment Arrangement, Expense	$ 53	$ 230
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in dollars per share)	$ 11.48
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 2,303
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 0
Performance Stock Unit Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	10.5	0
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)	20.9
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares)	10.5	0
Share-Based Payment Arrangement, Expense	$ 7	$ 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in dollars per share)	$ 12.15
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 120
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 0	$ 0
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	81.5	129.4
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares)	260.2	356.3
Share-Based Payment Arrangement, Expense	$ 313	$ 360
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	1,727
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 1,623	$ 417
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in shares)	2.4	0
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, Equity Instruments Other than Options, Grants in Period (in shares)	7.1	72.4
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 (in shares)	136.8	130.9
Share-Based Payment Arrangement, Expense	$ 121	$ 69
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value (in dollars per share)	$ 10.97
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 663
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 0	$ 40
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	3 years

Note G - Pension and Other Po_3

Note G - Pension and Other Postretirement Benefit Plans (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 29, 2023	Sep. 30, 2022
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, after Tax		$ 171	$ 89
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, Tax	$ 5	5	$ 9
Pension Plan [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year		645
Defined Benefit Plan, Plan Assets, Contributions by Employer		$ 182

Note G - Pension and Other Po_4

Note G - Pension and Other Postretirement Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Pension Plan [Member]
Service cost	$ 94	$ 101
Prior service cost	0	8
Interest cost	896	868
Expected return on plan assets	(1,048)	(1,060)
Amortization of transition obligation	10	9
Amortization of prior service cost	9	9
Amortization of actuarial net loss	16	10
Net periodic benefit cost	(24)	(55)
Other Postretirement Benefits Plan [Member]
Service cost	2	2
Interest cost	48	53
Amortization of prior service cost	(22)	(69)
Amortization of actuarial net loss	(155)	(10)
Net periodic benefit cost	$ (127)	$ (24)

Note H - Income Taxes (Details

Note H - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 29, 2023	Sep. 30, 2022
Effective Income Tax Rate Reconciliation, Percent		101.70%	26.30%
Income (Loss) from Continuing Operations before Income Taxes, Foreign		$ 3,200	$ 2,080
Income Tax Expense (Benefit)	$ 546	546	(688)
Income (Loss) from Continuing Operations before Income Taxes, Domestic		(3,700)	542
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$ (537)	(537)	(2,012)
Unrecognized Tax Benefits that Would Impact Effective Tax Rate		867
Foreign Tax Authority [Member]
Income Tax Expense (Benefit)		$ 516	702
Open Tax Year		2018 2019 2020 2021 2022 2023
Foreign Tax Authority [Member] | Tax and Customs Administration, Netherlands [Member]
Open Tax Year		2019
Domestic Tax Authority [Member]
Income Tax Expense (Benefit)		$ 30	$ 14

Note I - Intangible Assets (Det

Note I - Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Amortization of Intangible Assets	$ 819	$ 698

Note I - Intangible Assets - In

Note I - Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Jun. 30, 2023
Balance, Definite Intangible Assets Gross Carrying Amount	$ 31,625		$ 31,925
Balance, Definite Intangible Assets Accumulated Amortization/Impairment	(20,107)		(19,288)
Balance at June 30, Definite Intangible Assets Net Book Value	11,517		12,637
Addition, Definite Intangible Assets Gross Carrying Amount	0
Addition, Definite Intangible Assets Net Book Value	0
Reduction, Definite Intangible Assets Gross Carrying Amount	(89)
Reduction, Definite Intangible Assets Accumulated Amortization/Impairment	0
Amortization, Intangible Asset	(819)	$ (698)
Translation adjustment, Definite Intangible Assets Gross Carrying Amount	(211)
Translation adjustment, Definite Intangible Assets Net Book Value	(212)
Customer Relationships [Member]
Balance at June 30, Definite Intangible Assets Net Book Value	6,044		6,553
Addition, Definite Intangible Assets Net Book Value	0
Amortization, Intangible Asset	(312)
Translation adjustment, Definite Intangible Assets Net Book Value	(197)
Technology-Based Intangible Assets [Member]
Balance at June 30, Definite Intangible Assets Net Book Value	2,030		2,422
Addition, Definite Intangible Assets Net Book Value	0
Amortization, Intangible Asset	(282)
Translation adjustment, Definite Intangible Assets Net Book Value	(110)
Trade Names [Member]
Balance at June 30, Definite Intangible Assets Net Book Value	651		668
Addition, Definite Intangible Assets Net Book Value	0
Amortization, Intangible Asset	(39)
Translation adjustment, Definite Intangible Assets Net Book Value	22
Other Intangible Assets [Member]
Balance at June 30, Definite Intangible Assets Net Book Value	2,792		$ 2,994
Addition, Definite Intangible Assets Net Book Value	0
Amortization, Intangible Asset	(186)
Translation adjustment, Definite Intangible Assets Net Book Value	$ 73

Note I - Intangible Assets - Es

Note I - Intangible Assets - Estimated Intangibles Amortization Expense (Details) $ in Thousands	Sep. 29, 2023 USD ($)
2024	$ 2,517
2025	3,191
2026	2,247
2027	1,495
2028	1,346
2029	721
Thereafter	$ 0

Note J - Long Term Debt (Detail

Note J - Long Term Debt (Details Textual) $ in Thousands			3 Months Ended	12 Months Ended
	Jun. 30, 2022	Mar. 04, 2019 USD ($)	Sep. 29, 2023 USD ($)	Jun. 30, 2019	Jun. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Jul. 22, 2020	Jun. 29, 2018 USD ($)
Long-Term Debt, Current Maturities			$ 2,002		$ 2,010	$ 2,000
Principal Paid on Sale Leaseback Liabilities			7
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Bank of Montreal [Member]
Derivative, Notional Amount			11,000					$ 20,000
Maximum [Member]
Sale Leaseback Transactions, Term (Year)				5 years
Sale Leaseback Transactions, Implied Interest Rate				25%
Minimum [Member]
Sale Leaseback Transactions, Term (Year)				3 years
Sale Leaseback Transactions, Implied Interest Rate				7%
BMO [Member] | The 2018 Credit Agreement [Member]
Debt Instrument, Percentage of Equity Interest in Domestic Subsidiaries Pledged							100%
Debt Instrument, Percentage of Equity Interest in Foreign Subsidiaries Pledged							65%
Debt Instrument, Debt Default, Percentage of Letter of Credit Obligations Required to Cash Collateralize							105%
Long-Term Debt, Current Maturities			$ 2,000
BMO [Member] | The 2018 Credit Agreement [Member] | Term Loan [Member]
Debt Agreement, Maximum Borrowing Capacity		$ 20,000
Debt Instrument, Periodic Payment, Total		$ 500
Debt Instrument, Interest Rate During Period			6.73%
BMO [Member] | The 2018 Credit Agreement [Member] | Revolving Credit Facility [Member]
Debt Agreement, Maximum Borrowing Capacity								35,000
Line of Credit Facility, Maximum Borrowing Capacity								$ 50,000
Debt Instrument, Interest Rate During Period			5.47%
Line of Credit Facility, Current Borrowing Capacity			$ 37,665
Line of Credit Facility, Remaining Borrowing Capacity			27,032
BMO [Member] | The 2018 Credit Agreement [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument, Covenant, Maximum Cash Dividends			3,000
BMO [Member] | The 2018 Credit Agreement [Member] | Revolving Credit Facility [Member] | Minimum [Member] | London Interbank Offered Rate LIBOR 1 [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
BMO [Member] | The Ninth Amendment [Member] | Term Loan [Member]
Debt Instrument, Covenant, Minimum Tangible Net Worth Plus Half of Net Income			100,000
BMO [Member] | The Ninth Amendment [Member] | Term Loan [Member] | Maximum [Member] | London Interbank Offered Rate LIBOR 1 [Member]
Debt Instrument, Basis Spread on Variable Rate	2.875%
BMO [Member] | The Ninth Amendment [Member] | Term Loan [Member] | Minimum [Member] | London Interbank Offered Rate LIBOR 1 [Member]
Debt Instrument, Basis Spread on Variable Rate	1.375%
BMO [Member] | The Ninth Amendment [Member] | Unused Revolving Credit Commitment [Member] | Maximum [Member] | London Interbank Offered Rate LIBOR 1 [Member]
Debt Instrument, Basis Spread on Variable Rate	0.15%
BMO [Member] | The Ninth Amendment [Member] | Unused Revolving Credit Commitment [Member] | Minimum [Member] | London Interbank Offered Rate LIBOR 1 [Member]
Debt Instrument, Basis Spread on Variable Rate	0.10%
BMO [Member] | The Ninth Amendment [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 40,000
BMO [Member] | The Ninth Amendment [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Total Funded Debt To EBITDA Allowable Ratio			3.5
Fixed Charge Coverage Ratio			1.1
BMO [Member] | The Ninth Amendment [Member] | Revolving Credit Facility [Member] | Maximum [Member] | London Interbank Offered Rate LIBOR 1 [Member]
Debt Instrument, Basis Spread on Variable Rate	2.75%

Note J - Debt - Long-term Debt

Note J - Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 29, 2023	Jun. 30, 2023	Sep. 30, 2022
Long-term debt	$ 21,657	$ 18,627
Less: current maturities	(2,002)	(2,010)	$ (2,000)
Total long-term debt	19,655	16,617	$ 35,112
Revolving Loan [Member]
Long-term debt	10,633	7,094
Term Loan [Member]
Long-term debt	11,000	11,500
Other Long-Term Debt [Member]
Long-term debt	$ 24	$ 33

Note K - Shareholders' Equity_2

Note K - Shareholders' Equity (Details Textual) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Jun. 30, 2023	Jul. 01, 2022
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares)	315
Treasury Stock, Shares, Acquired (in shares)	0	0
Retained Earnings (Accumulated Deficit)	$ 119,126	$ 108,497	$ 120,299
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (8,621)	(12,598)	$ (5,570)
Revision of Prior Period, Change in Accounting Principle, Adjustment [Member]
Retained Earnings (Accumulated Deficit)		(24,505)		$ (25,100)
Accumulated Other Comprehensive Income (Loss), Net of Tax		$ 24,505		25,100
AOCI Including Portion Attributable to Noncontrolling Interest, Tax				0
Deferred Tax Assets, Gross				7,900
Deferred Tax Assets, Valuation Allowance				$ 7,900

Note K - Shareholders' Equity -

Note K - Shareholders' Equity - Shareholders' Equity Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 29, 2023	Sep. 30, 2022
Balance	$ 145,517	$ 145,517	$ 131,188
Net loss	(1,083)	(1,083)	(1,324)
Translation adjustments	(3,036)	(3,036)	(6,290)
Benefit plan adjustments, net of tax	(171)	(171)	(89)
Unrealized gain (loss) on hedges	216	216	793
Compensation expense		494	658
Stock awards, net of tax		(1,995)	(168)
Balance		140,175	124,768
Common Stock [Member]
Balance	42,855	42,855	42,551
Compensation expense		494	658
Stock awards, net of tax		(3,911)	(1,924)
Balance		39,439	41,285
Retained Earnings [Member]
Balance	120,299	120,299	109,919
Net loss		(1,173)	(1,422)
Balance		119,126	108,497
AOCI Attributable to Parent [Member]
Balance	(5,570)	(5,570)	(6,974)
Translation adjustments		(3,096)	(6,328)
Benefit plan adjustments, net of tax		(171)	(89)
Unrealized gain (loss) on hedges		216	793
Balance		(8,621)	(12,598)
Treasury Stock, Common [Member]
Balance	(12,491)	(12,491)	(14,720)
Stock awards, net of tax		2,148	1,756
Balance		(10,343)	(12,964)
Noncontrolling Interest [Member]
Balance	$ 424	424	412
Net loss		90	98
Translation adjustments		60	38
Balance		$ 574	$ 548

Note k - Shareholders' Equity_3

Note k - Shareholders' Equity - Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 29, 2023	Sep. 30, 2022
Balance	$ 145,517	$ 145,517	$ 131,188
Translation adjustment during the quarter	(3,036)	(3,036)	(6,290)
Balance		140,175	124,768
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(1,582)	(1,582)	(2,266)
Translation adjustment during the quarter		(3,096)	(6,328)
Amounts reclassified from accumulated other comprehensive income		0	0
Net current period other comprehensive (loss) income		3,096	6,328
Balance		(4,678)	(8,594)
Net current period other comprehensive (loss) income		(3,096)	(6,328)
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Balance	(5,948)	(5,948)	(6,614)
Translation adjustment during the quarter		0	0
Amounts reclassified from accumulated other comprehensive income		(171)	(89)
Net current period other comprehensive (loss) income		171	89
Balance		(6,119)	(6,703)
Net current period other comprehensive (loss) income		(171)	(89)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Balance	688	688	356
Translation adjustment during the quarter		0	0
Amounts reclassified from accumulated other comprehensive income		(6)	657
Net current period other comprehensive (loss) income		6	(657)
Balance		682	1,013
Net current period other comprehensive (loss) income		(6)	657
Accumulated Gain (Loss), Net, Net Investment Hedge [Member]
Balance	$ 1,272	1,272	1,550
Translation adjustment during the quarter		0	0
Amounts reclassified from accumulated other comprehensive income		222	136
Net current period other comprehensive (loss) income		(222)	(136)
Balance		1,494	1,686
Net current period other comprehensive (loss) income		$ 222	$ 136

Note K - Shareholders' Equity_4

Note K - Shareholders' Equity - Reconciliation for the Reclassifications Out of Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 29, 2023		Sep. 30, 2022
Total amortization	$ (537)	$ (537)		$ (2,012)
Income tax expense	546	546		(688)
Net loss	$ (1,083)	(1,083)		(1,324)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Actuarial losses		(172)		560
Transition asset and prior service benefit		(4)	[1]	(51)
Total amortization		(176)		(98)
Income tax expense		5		9
Net loss		$ (171)		(89)
Mark-to-market adjustment				$ (607)
[1]These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note G, "Pension and Other Postretirement Benefit Plans" for further details).

Note L - Assets Held for Sale (

Note L - Assets Held for Sale (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2023	Dec. 30, 2022	Sep. 30, 2022	Mar. 25, 2022
Proceeds from Sale of Property, Plant, and Equipment	$ 0		$ 2
Gain (Loss) on Disposition of Assets	16		42
Boat Management System Product Line [Member]
Inventory Write-down	$ 2,100
Property, Plant, and Equipment Reclassified to Assets Held for Sale [Member]
Increase (Decrease) in Asset, Held-for-Sale			$ 2,801
Propeller Machining Plant and Office in Switzerland [Member]
Proceeds from Sale of Property, Plant, and Equipment		$ 7,150
Gain (Loss) on Disposition of Assets		$ 4,161
Employee Severance [Member]
Impairment of Long-Lived Assets to be Disposed of				$ 4,267

Note M - Earnings Per Share (De

Note M - Earnings Per Share (Details Textual) - shares	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	265,000	320,800
PSUA Award [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	5,200
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	108,500	181,200
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	72,600	51,200

Note M - Earnings Per Share - C

Note M - Earnings Per Share - Components of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 29, 2023	Sep. 30, 2022
Net loss	$ (1,083)	$ (1,083)	$ (1,324)
Less: Net earnings attributable to noncontrolling interest	$ (90)	(90)	(98)
Less: Undistributed earnings attributable to unvested shares		0	0
Net loss attributable to Twin Disc		$ (1,173)	$ (1,422)
Weighted average shares outstanding - basic (in shares)	13,527	13,527	13,407
Net loss per share - basic (in dollars per share)	$ (0.09)	$ (0.09)	$ (0.11)
Effect of dilutive stock awards (in shares)		0	0
Weighted average shares outstanding - diluted (in shares)	13,527	13,527	13,407
Net loss per share - diluted (in dollars per share)	$ (0.09)	$ (0.09)	$ (0.11)

Note N - Lease Obligations - Co

Note N - Lease Obligations - Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 29, 2023	Jun. 30, 2023	Sep. 30, 2022
Operating lease right-of-use assets	$ 12,093	$ 13,133	$ 11,492
Operating lease liabilities	9,896	10,811	$ 9,483
Property, Plant and Equipment, Net [Member]
Finance lease right-of-use assets	4,952	4,427
Accrued Liabilities [Member]
Operating lease liabilities	2,218	2,343
Finance lease liabilities	670	643
Lease Obligation [Member]
Operating lease liabilities	9,896	10,811
Other Noncurrent Liabilities [Member]
Finance lease liabilities	$ 4,556	$ 4,314

Note N - Lease Obligations - _2

Note N - Lease Obligations - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Amortization of right-of-use assets	$ 222	$ 155
Interest on lease liabilities	73	64
Operating lease cost	893	711
Short-term lease cost	3	13
Variable lease cost	100	40
Total lease cost	1,291	983
Less: Sublease income	(20)	(17)
Net lease cost	$ 1,271	$ 966

Note N - Lease Obligations - Ot

Note N - Lease Obligations - Other Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Operating cash flows from operating leases	$ 924	$ 748
Operating cash flows from finance leases	73	201
Financing cash flows from finance leases	847	132
Right-of-use-assets obtained in exchange for lease obligations: Operating leases	15	528
Right-of-use-assets obtained in exchange for lease obligations: Finance leases	$ 484	$ 51
Weighted average remaining lease term (years): Operating leases (Year)	8 years 2 months 12 days	8 years 9 months 18 days
Weighted average remaining lease term (years): Finance lease (Year)	9 years 8 months 12 days	11 years 4 months 24 days
Weighted average discount rate: Operating leases	7.60%	7.20%
Weighted average discount rate: Finance leases	5.70%	5.20%

Note N - Lease Obligations - Fu

Note N - Lease Obligations - Future Minimum Rental Commitments Under Noncancelable Leases (Details) $ in Thousands	Sep. 29, 2023 USD ($)
2024, Operating Leases	$ 2,396
2024, Finance Leases	740
2025, Operating Leases	2,143
2025, Finance Leases	806
2026, Operating Leases	1,672
2026, Finance Leases	744
2027, Operating Leases	1,608
2027, Finance Leases	679
2028, Operating Leases	1,587
2028, Finance Leases	619
2029, Operating Leases	1,572
2029, Finance Leases	476
Thereafter, Operating Leases	5,602
Thereafter, Finance Leases	2,655
Total future lease payments, Operating Leases	16,580
Total future lease payments, Finance Leases	6,719
Less: Amount representing interest, Operating Leases	(4,466)
Less: Amount representing interest, Finance Leases	(1,493)
Present value of future payments, Operating Leases	12,114
Present value of future payments, Finance Leases	$ 5,226

Note O - Derivative Financial_3

Note O - Derivative Financial Instruments (Details Textual) $ in Thousands, € in Millions	3 Months Ended	12 Months Ended
	Sep. 29, 2023 USD ($)	Jun. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 EUR (€)	Jun. 29, 2018 USD ($)
Equity, Including Portion Attributable to Noncontrolling Interest	$ 140,175	$ 145,517	$ 124,768	$ 131,188
Cash Flow Hedge Gain (Loss) to be Reclassified within 12 Months	$ 284
Interest Rate Swap [Member]
Derivative, Number of Instruments Held	1
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Bank of Montreal [Member]
Derivative, Notional Amount	$ 11,000					$ 20,000
Equity, Including Portion Attributable to Noncontrolling Interest	682	688
Euro Denominated Revolving Loan [Member] | Net Investment Hedging [Member] | Designated as Hedging Instrument [Member]
Derivative, Notional Amount | €					€ 13
Derivative, Gain (Loss) on Derivative, Net	$ (1,494)	$ (1,272)

Note O - Derivative Financial_4

Note O - Derivative Financial Instruments - Fair Value of Derivative Instruments (Details) - Interest Rate Swap [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	Sep. 29, 2023	Jun. 30, 2023
Accounts Payable and Accrued Liabilities [Member]
Derivative Liabilities, Current	$ 268	$ 292
Other Noncurrent Liabilities [Member]
Derivative Liabilities, Noncurrent	$ 205	$ 187

Note O - Derivative Financial_5

Note O - Derivative Financial Instruments - Impact of the Company's Derivative Instruments on the Consolidated Statement of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 29, 2023	Sep. 30, 2022
Unrealized gain (loss) on hedges	$ 216	$ 216	$ 793
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Unrealized Gain (Loss) on Hedges [Member] | Cash Flow Hedging [Member]
Unrealized gain (loss) on hedges		(6)	349
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Interest Expense [Member]
Gain (loss) on derivative instruments		71	84
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		$ 222	$ 444

Note P - Impact of Accounting_3

Note P - Impact of Accounting Method Change - Adjustment to Financial Statements (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 29, 2023	Sep. 30, 2022	Jun. 30, 2023	Jul. 01, 2022
Net sales	$ 63,554	$ 63,554	$ 55,913
Cost of goods sold			42,616
Gross profit	16,637		13,297
Marketing, engineering and administrative expenses	16,917		15,090
Loss from operations	(280)		(1,793)
Other Income (expense):
Interest expense	(394)		(566)
Other income, net	137		347
Interest Income (Expense), Nonoperating, Net	(257)		(219)
Income before income taxes and noncontrolling interest	(537)	(537)	(2,012)
Income tax expense	546	546	(688)
Net loss	(1,083)	(1,083)	(1,324)
Less: Net loss attributable to noncontrolling interest, net of tax	(90)	(90)	(98)
Net loss attributable to Twin Disc	$ (1,173)	$ (1,173)	$ (1,422)
Loss per share data:
Net loss per share - basic (in dollars per share)	$ (0.09)	$ (0.09)	$ (0.11)
Net loss per share - diluted (in dollars per share)	$ (0.09)	$ (0.09)	$ (0.11)
Weighted average shares outstanding data:
Basic shares outstanding (in shares)	13,527	13,527	13,407
Diluted shares outstanding (in shares)	13,527	13,527	13,407
Net loss	$ (1,083)	$ (1,083)	$ (1,324)
Benefit plan adjustments, net of income taxes of $9	(171)	(171)	(89)
Translation adjustment during the quarter	(3,036)	(3,036)	(6,290)
Unrealized loss on hedges, net of income taxes of $0, respectively	216	216	793
Comprehensive loss	(4,074)		(6,910)
Less: Comprehensive income attributable to noncontrolling interest	151		136
Comprehensive loss attributable to Twin Disc	(4,225)		(7,046)
Current assets:
Cash		20,428	13,214	$ 13,263
Trade accounts receivable, net		39,756	40,007	54,760
Inventories		126,236	128,100	131,930
Assets held for sale		4,559	5,769	2,968
Prepaid expenses		9,466	8,207	8,459
Other		8,763	6,521	8,326
Total current assets		209,208	201,818	219,706
Property, plant and equipment, net		40,065	38,989	38,650
Right-of-use assets operating leases		12,093	11,492	13,133
Intangible assets, net		11,517	11,560	12,637
Deferred income taxes		2,204	2,846	2,244
Other assets		2,894	2,846	2,811
Total assets		277,981	269,551	289,181
Current liabilities:
Current maturities of long-term debt		2,002	2,000	2,010
Accounts payable		29,584	30,706	36,499
Accrued liabilities		60,632	49,158	61,586
Total current liabilities		92,218	81,864	100,095
Long-term debt		19,655	35,112	16,617
Lease obligations		9,896	9,483	10,811
Accrued retirement benefits		7,138	9,860	7,608
Deferred income taxes		3,150	3,422	3,280
Other long-term liabilities		5,749	5,042	5,253
Total liabilities		137,806	144,783	143,664
Twin Disc shareholders' equity:
Preferred shares authorized: 200,000; issued: none; no par value		0	0	0
Common shares authorized: 30,000,000; issued: 14,632,802; no par value		39,439	41,285	42,855
Retained earnings		119,126	108,497	120,299
Accumulated Other Comprehensive Income (Loss), Net of Tax		(8,621)	(12,598)	(5,570)
Equity before treasury stock		149,944	137,184	157,584
Less treasury stock, at cost (674,354 and 814,734 shares, respectively)		10,343	12,964	12,491
Total Twin Disc shareholders' equity		139,601	124,220	145,093
Noncontrolling interest		574	548	424
Total equity		140,175	124,768	145,517
Total liabilities and equity		277,981	269,551	289,181
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	(1,083)	(1,083)	(1,324)
Adjustments to reconcile net loss to net cash provided by used activities:
Depreciation and amortization		2,488	2,140
Gain on sale of assets		(16)	(42)
Restructuring expenses		(57)	(68)
Provision for deferred income taxes		97	(1,623)
Stock compensation expense		1,140	864
Net change in operating assets and liabilities		4,134	(643)
Net cash used by operating activities		9,802	(696)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant, and equipment		(3,690)	(2,237)
Proceeds from sale of fixed assets		0	2
Proceeds on note receivable			0
Other, net		45	534
Net cash used by investing activities		(3,645)	(1,701)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under revolving loan arrangements		27,184	20,221
Repayments of revolving loan arrangements		(23,423)	(18,685)
Repayments of other long-term debt		(508)	(519)
Payments of finance lease obligations		(847)	(132)
Payments of withholding taxes on stock compensation		(1,763)	(168)
Net cash provided by financing activities		643	717
Effect of exchange rate changes on cash		365	2,373
Net change in cash		7,165	693
Cash:
Beginning of period	13,263	13,263	12,521
End of period		20,428	13,214
Balance	145,517	145,517	131,188
Net loss attributable to Twin Disc	(1,173)	(1,173)	(1,422)
Balance		140,175	124,768
Translation adjustment during the quarter	(3,036)	(3,036)	(6,290)
Unrealized loss on hedges, net of income taxes of $0, respectively	216	216	793
Retained Earnings [Member]
Other Income (expense):
Net loss		(1,173)	(1,422)
Net loss attributable to Twin Disc			(1,422)
Weighted average shares outstanding data:
Net loss		(1,173)	(1,422)
Twin Disc shareholders' equity:
Total equity		119,126	108,497	120,299
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss		(1,173)	(1,422)
Cash:
Balance	120,299	120,299	109,919
Net loss attributable to Twin Disc			(1,422)
Balance		119,126	108,497
AOCI Attributable to Parent [Member]
Weighted average shares outstanding data:
Benefit plan adjustments, net of income taxes of $9		(171)	(89)
Translation adjustment during the quarter		(3,096)	(6,328)
Unrealized loss on hedges, net of income taxes of $0, respectively		216	793
Twin Disc shareholders' equity:
Total equity		(8,621)	(12,598)	$ (5,570)
Cash:
Balance	$ (5,570)	(5,570)	(6,974)
Balance		(8,621)	(12,598)
Translation adjustment during the quarter		(3,096)	(6,328)
Benefit plan adjustments, net of tax			(89)
Unrealized loss on hedges, net of income taxes of $0, respectively		$ 216	793
Previously Reported [Member]
Net sales			55,913
Cost of goods sold			42,616
Gross profit			13,297
Marketing, engineering and administrative expenses			15,090
Loss from operations			(1,793)
Other Income (expense):
Interest expense			(566)
Other income, net			(260)
Interest Income (Expense), Nonoperating, Net			(826)
Income before income taxes and noncontrolling interest			(2,619)
Income tax expense			(688)
Net loss			(1,931)
Less: Net loss attributable to noncontrolling interest, net of tax			(98)
Net loss attributable to Twin Disc			$ (2,029)
Loss per share data:
Net loss per share - basic (in dollars per share)			$ (0.15)
Net loss per share - diluted (in dollars per share)			$ (0.15)
Weighted average shares outstanding data:
Basic shares outstanding (in shares)			13,407
Diluted shares outstanding (in shares)			13,407
Net loss			$ (1,931)
Benefit plan adjustments, net of income taxes of $9			518
Translation adjustment during the quarter			(6,290)
Unrealized loss on hedges, net of income taxes of $0, respectively			793
Comprehensive loss			(6,910)
Less: Comprehensive income attributable to noncontrolling interest			136
Comprehensive loss attributable to Twin Disc			(7,046)
Current assets:
Cash			13,214
Trade accounts receivable, net			40,007
Inventories			128,100
Assets held for sale			5,769
Prepaid expenses			8,207
Other			6,521
Total current assets			201,818
Property, plant and equipment, net			38,989
Right-of-use assets operating leases			11,492
Intangible assets, net			11,560
Deferred income taxes			2,846
Other assets			2,846
Total assets			269,551
Current liabilities:
Current maturities of long-term debt			2,000
Accounts payable			30,706
Accrued liabilities			49,158
Total current liabilities			81,864
Long-term debt			35,112
Lease obligations			9,483
Accrued retirement benefits			9,860
Deferred income taxes			3,422
Other long-term liabilities			5,042
Total liabilities			144,783
Twin Disc shareholders' equity:
Preferred shares authorized: 200,000; issued: none; no par value			0
Common shares authorized: 30,000,000; issued: 14,632,802; no par value			41,285
Retained earnings			133,002
Accumulated Other Comprehensive Income (Loss), Net of Tax			(37,103)
Equity before treasury stock			137,184
Less treasury stock, at cost (674,354 and 814,734 shares, respectively)			12,964
Total Twin Disc shareholders' equity			124,220
Noncontrolling interest			548
Total equity			124,768
Total liabilities and equity			269,551
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss			(1,931)
Adjustments to reconcile net loss to net cash provided by used activities:
Depreciation and amortization			2,140
Gain on sale of assets			(42)
Restructuring expenses			(68)
Provision for deferred income taxes			(1,623)
Stock compensation expense			864
Net change in operating assets and liabilities			(36)
Net cash used by operating activities			(696)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant, and equipment			(2,237)
Proceeds from sale of fixed assets			2
Proceeds on note receivable			0
Other, net			534
Net cash used by investing activities			(1,701)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under revolving loan arrangements			20,221
Repayments of revolving loan arrangements			(18,685)
Repayments of other long-term debt			(651)
Payments of finance lease obligations			0
Payments of withholding taxes on stock compensation			(168)
Net cash provided by financing activities			717
Effect of exchange rate changes on cash			2,373
Net change in cash			693
Cash:
Beginning of period			12,521
End of period			13,214
Balance
Net loss attributable to Twin Disc			(2,029)
Balance			124,768
Translation adjustment during the quarter			(6,290)
Unrealized loss on hedges, net of income taxes of $0, respectively			793
Previously Reported [Member] | Retained Earnings [Member]
Other Income (expense):
Net loss attributable to Twin Disc			(2,029)
Twin Disc shareholders' equity:
Total equity			133,002
Cash:
Balance			135,031
Net loss attributable to Twin Disc			(2,029)
Balance			133,002
Previously Reported [Member] | AOCI Attributable to Parent [Member]
Weighted average shares outstanding data:
Translation adjustment during the quarter			(6,328)
Unrealized loss on hedges, net of income taxes of $0, respectively			793
Twin Disc shareholders' equity:
Total equity			(37,103)
Cash:
Balance			(32,086)
Balance			(37,103)
Translation adjustment during the quarter			(6,328)
Benefit plan adjustments, net of tax			518
Unrealized loss on hedges, net of income taxes of $0, respectively			793
Revision of Prior Period, Change in Accounting Principle, Adjustment [Member]
Net sales			0
Cost of goods sold			0
Gross profit			0
Marketing, engineering and administrative expenses			0
Loss from operations			0
Other Income (expense):
Interest expense			0
Other income, net			607
Interest Income (Expense), Nonoperating, Net			607
Income before income taxes and noncontrolling interest			607
Income tax expense			0
Net loss			607
Less: Net loss attributable to noncontrolling interest, net of tax			0
Net loss attributable to Twin Disc			$ 607
Loss per share data:
Net loss per share - basic (in dollars per share)			$ 0.04
Net loss per share - diluted (in dollars per share)			$ 0.04
Weighted average shares outstanding data:
Basic shares outstanding (in shares)			0
Diluted shares outstanding (in shares)			0
Net loss			$ 607
Benefit plan adjustments, net of income taxes of $9			(607)
Translation adjustment during the quarter			0
Unrealized loss on hedges, net of income taxes of $0, respectively			0
Comprehensive loss			0
Less: Comprehensive income attributable to noncontrolling interest			0
Comprehensive loss attributable to Twin Disc			0
Current assets:
Cash			0
Trade accounts receivable, net			0
Inventories			0
Assets held for sale			0
Prepaid expenses			0
Other			0
Total current assets			0
Property, plant and equipment, net			0
Right-of-use assets operating leases			0
Intangible assets, net			0
Deferred income taxes			0
Other assets			0
Total assets			0
Current liabilities:
Current maturities of long-term debt			0
Accounts payable			0
Accrued liabilities			0
Total current liabilities			0
Long-term debt			0
Lease obligations			0
Accrued retirement benefits			0
Deferred income taxes			0
Other long-term liabilities			0
Total liabilities			0
Twin Disc shareholders' equity:
Preferred shares authorized: 200,000; issued: none; no par value			0
Common shares authorized: 30,000,000; issued: 14,632,802; no par value			0
Retained earnings			(24,505)		$ (25,100)
Accumulated Other Comprehensive Income (Loss), Net of Tax			24,505		$ 25,100
Equity before treasury stock			0
Less treasury stock, at cost (674,354 and 814,734 shares, respectively)			0
Total Twin Disc shareholders' equity			0
Noncontrolling interest			0
Total equity			0
Total liabilities and equity			0
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss			607
Adjustments to reconcile net loss to net cash provided by used activities:
Depreciation and amortization			0
Gain on sale of assets			0
Restructuring expenses			0
Provision for deferred income taxes			0
Stock compensation expense			0
Net change in operating assets and liabilities			(607)
Net cash used by operating activities			0
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant, and equipment			0
Proceeds from sale of fixed assets			0
Proceeds on note receivable			0
Other, net			0
Net cash used by investing activities			0
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under revolving loan arrangements			0
Repayments of revolving loan arrangements			0
Repayments of other long-term debt			132
Payments of finance lease obligations			(132)
Payments of withholding taxes on stock compensation			0
Net cash provided by financing activities			0
Effect of exchange rate changes on cash			0
Net change in cash			0
Cash:
Beginning of period			0
End of period			0
Balance
Net loss attributable to Twin Disc			607
Balance			0
Translation adjustment during the quarter			0
Unrealized loss on hedges, net of income taxes of $0, respectively			0
Revision of Prior Period, Change in Accounting Principle, Adjustment [Member] | Retained Earnings [Member]
Other Income (expense):
Net loss attributable to Twin Disc			607
Twin Disc shareholders' equity:
Total equity			(24,505)
Cash:
Balance			(25,112)
Net loss attributable to Twin Disc			607
Balance			(24,505)
Revision of Prior Period, Change in Accounting Principle, Adjustment [Member] | AOCI Attributable to Parent [Member]
Weighted average shares outstanding data:
Translation adjustment during the quarter			0
Unrealized loss on hedges, net of income taxes of $0, respectively			0
Twin Disc shareholders' equity:
Total equity			24,505
Cash:
Balance			25,112
Balance			24,505
Translation adjustment during the quarter			0
Benefit plan adjustments, net of tax			(607)
Unrealized loss on hedges, net of income taxes of $0, respectively			$ 0

Note P - Impact of Accounting_4

Note P - Impact of Accounting Method Change - Adjustment to Financial Statements (Details) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 29, 2023	Sep. 30, 2022	Jun. 30, 2023
Benefit plan adjustments, income taxes	$ 5	$ 5	$ 9
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, Common, Shares (in shares)		674,354		814,734