Note L - Shareholders' Equity

3 Months Ended

Sep. 26, 2025

L.	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 26, 2025 remain authorized for purchase. The Company did not make any open market purchases of its shares during the quarters ended September 26, 2025 and September 27, 2024.

The following is a reconciliation of the Company’s equity balances for the first fiscal quarters of 2026 and 2025:

	Twin Disc, Inc. Shareholders’ Equity
	Common Stock			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock			Non- Controlling Interest		Total Equity
Balance, June 30, 2025	$	42,269		$	125,414		$	3,730		$	(7,402	)	$	380	$	164,391
Net income (loss)					(518	)								106		(412	)
Dividends paid to shareholders					(566	)										(566	)
Translation adjustments								(2,516	)					85		(2,431	)
Benefit plan adjustments, net of tax								632								632
Unrealized gain (loss) on hedges, net of tax								98								98
Compensation expense		862														862
Stock awards, net		(5,318	)								3,632					(1,686	)
Balance, September 26, 2025	$	37,813		$	124,330		$	1,944		$	(3,770	)	$	571	$	160,888

	Twin Disc, Inc. Shareholders’ Equity
	Common Stock			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock			Non- Controlling Interest			Total Equity
Balance, June 30, 2024	$	41,798		$	129,592		$	(6,905	)	$	(9,783	)	$	352		$	155,054
Net income (loss)					(2,765	)								(7	)		(2,772	)
Dividends paid to shareholders					(570	)											(570	)
Translation adjustments								7,021						143			7,164
Benefit plan adjustments, net of tax								221									221
Unrealized gain (loss) on hedges, net of tax								(853	)								(853	)
Compensation expense		1,024															1,024
Stock awards, net		(2,920	)								1,671						(1,249	)
Balance, September 27, 2024	$	39,902		$	126,257		$	(516	)	$	(8,112	)	$	488		$	158,019

Reconciliations for the changes in accumulated other comprehensive income (loss), net of tax, by component for the quarters ended September 26, 2025 and September 27, 2024 are as follows:

	Translation Adjustment			Benefit Plan Adjustment			Cash Flow Hedges			Net Investment Hedges
Balance, June 30, 2025	$	15,036		$	(11,461	)	$	284		$	(129	)
Translation adjustment during the quarter		(2,516	)		-			-			-
Amounts reclassified from accumulated other comprehensive income (loss)		-			632			(31	)		129
Net current period other comprehensive income (loss)		(2,516	)		632			(31	)		129
Balance, September 26, 2025	$	12,520		$	(10,829	)	$	253		$	-

	Translation Adjustment			Benefit Plan Adjustment			Cash Flow Hedges			Net Investment Hedges
Balance, June 30, 2024	$	(849	)	$	(8,062	)	$	504		$	1,502
Translation adjustment during the quarter		7,021			-			-			-
Amounts reclassified from accumulated other comprehensive income (loss)		-			221			(169	)		(684	)
Net current period other comprehensive income (loss)		7,021			221			(169	)		(684	)
Balance, September 27, 2024	$	6,172		$	(7,841	)	$	335		$	818

Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter ended September 26, 2025 are as follows:

	Amount Reclassified
Changes in benefit plan items
Actuarial loss (gain)	$	623	(a)
Transition asset and prior service cost (benefit)		8	(a)
Total amortization		631
Income taxes		1
Total changes, net of tax	$	632

Reconciliation for the changes in benefit plan adjustments, net of tax for the quarter ended September 27, 2024 is as follows:

	Amount Reclassified
Changes in benefit plan items
Actuarial loss (gain)		285	(a)
(a)Transition asset and prior service cost (benefit)		(53	) (a)
Total amortization		232
Income taxes		(11	)
Total changes, net of tax	$	221

(a)

These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension benefit cost (gain) (see Note H, "Pension and Other Postretirement Benefit Plans" for further details).

- Definition

The entire disclosure for equity.

+ References

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+ Details

TWIN DISC INC 10-Q