XML 60 R41.htm IDEA: XBRL DOCUMENT v3.5.0.2
Accumulated Other Comprehensive Loss (Tables)
 12 Months Ended
Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Components of Accumulated Other Comprehensive I(Loss) Income [Table Text Block]

The components of and changes in AOCL were as follows (net of tax) for the year ended June 30, 2016 (in thousands):
Attributable to Kennametal:
Post-retirement benefit plans
Currency translation adjustment
Derivatives
Total
Balance, June 30, 2015
$
(138,793
)
$
(97,309
)
$
(7,421
)
$
(243,523
)
Other comprehensive (loss) income before reclassifications
(78,295
)
(51,508
)
(150
)
(129,953
)
Amounts Reclassified from AOCL
4,925

15,088

(1,563
)
18,450

Net current period other comprehensive loss
(73,370
)
(36,420
)
(1,713
)
(111,503
)
Sale of subsidiary stock to noncontrolling interest
—

2,517

—

2,517

AOCL, June 30, 2016
$
(212,163
)
$
(131,212
)
$
(9,134
)
$
(352,509
)
 
 
 
 
 
Attributable to noncontrolling interests:
 
 
 
 
Balance, June 30, 2015
$
—

$
(2,258
)
$
—

$
(2,258
)
Other comprehensive loss before reclassifications
—

(1,188
)
—

(1,188
)
Net current period other comprehensive loss
—

(1,188
)
—

(1,188
)
AOCL, June 30, 2016
$
—

$
(3,446
)
$
—

$
(3,446
)


The components of and changes in AOCL were as follows (net of tax) for the year ended June 30, 2015 (in thousands):
Attributable to Kennametal:
Post-retirement benefit plans
Currency translation adjustment
Derivatives
Total
Balance, June 30, 2014
$
(93,742
)
$
38,811

$
(11,200
)
$
(66,131
)
Other comprehensive (loss) income before reclassifications
(47,982
)
(136,120
)
6,652

(177,450
)
Amounts Reclassified from AOCL
2,931

—

(2,873
)
58

Net current period other comprehensive loss
(45,051
)
(136,120
)
3,779

(177,392
)
AOCL, June 30, 2015
$
(138,793
)
$
(97,309
)
$
(7,421
)
$
(243,523
)
 
 
 
 
 
Attributable to noncontrolling interests:
 
 
 
 
Balance, June 30, 2014
$
—

$
1,087

$
—

$
1,087

Other comprehensive income before reclassifications
—

(3,345
)
—

(3,345
)
Net current period other comprehensive loss
—

(3,345
)
—

(3,345
)
AOCL, June 30, 2015
$
—

$
(2,258
)
$
—

$
(2,258
)


The components of and changes in AOCL were as follows (net of tax) for the year ended June 30, 2014 (in thousands):
Attributable to Kennametal:
Post-retirement benefit plans
Currency translation adjustment
Derivatives
Total
Balance, June 30, 2013
$
(83,936
)
$
7,413

$
(12,481
)
$
(89,004
)
Other comprehensive income (loss) before reclassifications
(11,990
)
31,398

(706
)
18,702

Amounts Reclassified from AOCL
2,184

—

1,987

4,171

Net current period other comprehensive loss
(9,806
)
31,398

1,281

22,873

AOCL, June 30, 2014
$
(93,742
)
$
38,811

$
(11,200
)
$
(66,131
)
 
 
 
 
 
Attributable to noncontrolling interests:
 
 
 
 
Balance, June 30, 2013
$
—

$
721

$
—

$
721

Other comprehensive loss before
reclassifications
—

366

—

366

Net current period other comprehensive loss
—

366

—

366

AOCL, June 30, 2014
$
—

$
1,087

$
—

$
1,087
Reclassification out of Accumulated Other Comprehensive Loss
Reclassifications out of AOCL for the years ended June 30, 2016, 2015 and 2014 consisted of the following:
 
Year Ended June 30,
 
Details about AOCL components
(in thousands)
2016
2015
2014
Affected line item in the Income Statement
Gains and losses on cash flow hedges:
 
 
 
 
Forward starting interest rate swaps
$
2,099

$
2,021

$
1,945

Interest expense
Currency exchange contracts
(4,645
)
(6,700
)
1,260

Other (income) expense, net
Total before tax
(2,546
)
(4,679
)
3,205

 
Tax expense (benefit)
983

1,806

(1,218
)
Provision (benefit) for income taxes
Net of tax
$
(1,563
)
$
(2,873
)
$
1,987

 
 
 
 
 
 
Post-retirement benefit plans:
 
 
 
 
Amortization of transition obligations
$
80

$
78

$
78

See Note 13 for further details
Amortization of prior service credit
(439
)
(420
)
(345
)
See Note 13 for further details
Recognition of actuarial losses
7,610

4,163

2,959

See Note 13 for further details
Total before tax
7,251

3,821

2,692

 
Tax (benefit)
(2,326
)
(890
)
(508
)
Provision (benefit) for income taxes
Net of tax
$
4,925

$
2,931

$
2,184

 
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
Released due to divestiture
15,088

—

—

Loss on divestiture
Total before taxes
15,088

—

—

 
Tax benefit
—

—

—

Provision (benefit) for income taxes
Net of tax
$
15,088

$
—

$
—

 
Amount of Income Tax (Expense) Benefit Allocated to Each Component of Other Comprehensive Income (Loss) [Table Text Block]
The amount of income tax allocated to each component of other comprehensive (loss) for the year ended June 30, 2016:
(in thousands)
Pre-tax
Tax impact
Net of tax
Unrealized loss on derivatives designated and qualified as cash flow hedges
$
(244
)
$
94

$
(150
)
Reclassification of unrealized gain on expired derivatives designated and qualified as cash flow hedges
(2,546
)
983

(1,563
)
Unrecognized net pension and other postretirement benefit loss
(84,266
)
5,971

(78,295
)
Reclassification of net pension and other postretirement benefit loss
7,251

(2,326
)
4,925

Foreign currency translation adjustments
(52,699
)
4

(52,695
)
Reclassification of foreign currency translation adjustment loss realized upon sale
15,088

—

15,088

Other comprehensive (loss)
$
(117,416
)
$
4,726

$
(112,690
)

The amount of income tax allocated to each component of other comprehensive (loss) for the year ended June 30, 2015:
(in thousands)
Pre-tax
Tax impact
Net of tax
Unrealized gain on derivatives designated and qualified as cash flow hedges
$
10,834

$
(4,182
)
$
6,652

Reclassification of unrealized gain on expired derivatives designated and qualified as cash flow hedges
(4,679
)
1,806

(2,873
)
Unrecognized net pension and other postretirement benefit loss
(76,029
)
28,047

(47,982
)
Reclassification of net pension and other postretirement benefit loss
3,821

(890
)
2,931

Foreign currency translation adjustments
(147,172
)
7,707

(139,465
)
Other comprehensive (loss)
$
(213,225
)
$
32,488

$
(180,737
)

The amount of income tax allocated to each component of other comprehensive income for the year ended June 30, 2014:
(in thousands)
Pre-tax
Tax impact
Net of tax
Unrealized loss on derivatives designated and qualified as cash flow hedges
(1,139
)
433

(706
)
Reclassification of unrealized loss on expired derivatives designated and qualified as cash flow hedges
3,205

(1,218
)
1,987

Unrecognized net pension and other postretirement benefit loss
(15,900
)
3,910

(11,990
)
Reclassification of net pension and other postretirement benefit loss
2,692

(508
)
2,184

Foreign currency translation adjustments
33,493

(1,730
)
31,763

Other comprehensive income
22,351

887

23,238