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Accumulated Other Comprehensive (Loss) Income | 6 Months Ended
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Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Accumulated Other Comprehensive (Loss) Income | ACCUMULATED OTHER COMPREHENSIVE LOSS Total accumulated other comprehensive loss (AOCL) consists of net loss and other changes in equity from transactions and other events from sources other than shareholders. It includes postretirement benefit plan adjustments, currency translation adjustments and unrealized gains and losses from derivative instruments designated as cash flow hedges. The components of, and changes in, AOCL were as follows (net of tax) for the three months ended December 31, 2015 (in thousands):
Attributable to Kennametal: | Postretirement benefit plans | Currency translation adjustment | Derivatives | Total
Balance, September 30, 2015 | $ | (136,575 | ) | $ | (115,619 | ) | $ | (8,662 | ) | $ | (260,856 | )
Other comprehensive loss before reclassifications | 1,450 |  | (23,111 | ) | 277 |  | (21,384 | )
Amounts reclassified from AOCL | 1,203 |  | 17,028 |  | (418 | ) | 17,813 |
Net current period other comprehensive loss | 2,653 |  | (6,083 | ) | (141 | ) | (3,571 | )
AOCL, December 31, 2015 | $ | (133,922 | ) | $ | (121,702 | ) | $ | (8,803 | ) | $ | (264,427 | )
Attributable to noncontrolling interests: |  |  |  |
Balance, September 30, 2015 | $ | — |  | $ | (2,797 | ) | $ | — |  | $ | (2,797 | )
Other comprehensive loss before reclassifications | — |  | (528 | ) | — |  | (528 | )
Net current period other comprehensive loss | — |  | (528 | ) | — |  | (528 | )
AOCL, December 31, 2015 | $ | — |  | $ | (3,325 | ) | $ | — |  | $ | (3,325 | )
The components of, and changes in, AOCL were as follows (net of tax) for the six months ended December 31, 2015 (in thousands):
Attributable to Kennametal: | Postretirement benefit plans | Currency translation adjustment | Derivatives | Total
Balance, June 30, 2015 | $ | (138,793 | ) | $ | (97,309 | ) | $ | (7,421 | ) | $ | (243,523 | )
Other comprehensive loss before reclassifications | 2,449 |  | (41,421 | ) | 802 |  | (38,170 | )
Amounts reclassified from AOCL | 2,422 |  | 17,028 |  | (2,184 | ) | 17,266 |
Net current period other comprehensive loss | 4,871 |  | (24,393 | ) | (1,382 | ) | (20,904 | )
AOCL, December 31, 2015 | $ | (133,922 | ) | $ | (121,702 | ) | $ | (8,803 | ) | $ | (264,427 | )
Attributable to noncontrolling interests: |  |  |  |
Balance, June 30, 2015 | $ | — |  | $ | (2,258 | ) | $ | — |  | $ | (2,258 | )
Other comprehensive loss before reclassifications | — |  | (1,067 | ) | — |  | (1,067 | )
Net current period other comprehensive loss | — |  | (1,067 | ) | — |  | (1,067 | )
AOCL, December 31, 2015 | $ | — |  | $ | (3,325 | ) | $ | — |  | $ | (3,325 | )
The components of, and changes in, AOCL were as follows (net of tax) for the three months ended December 31, 2014 (in thousands):
Attributable to Kennametal: | Postretirement benefit plans | Currency translation adjustment | Derivatives | Total
Balance, September 30, 2014 | $ | (89,347 | ) | $ | (11,210 | ) | $ | (9,329 | ) | $ | (109,886 | )
Other comprehensive (loss) income before reclassifications | 1,924 |  | (29,427 | ) | 1,206 |  | (26,297 | )
Amounts reclassified from AOCL | 735 |  | — |  | (35 | ) | 700 |
Net current period other comprehensive (loss) income | 2,659 |  | (29,427 | ) | 1,171 |  | (25,597 | )
AOCL, December 31, 2014 | $ | (86,688 | ) | $ | (40,637 | ) | $ | (8,158 | ) | $ | (135,483 | )
Attributable to noncontrolling interests: |  |  |  |
Balance, September 30, 2014 | $ | — |  | $ | (405 | ) | $ | — |  | $ | (405 | )
Other comprehensive income before reclassifications | — |  | (782 | ) | — |  | (782 | )
Net current period other comprehensive income | — |  | (782 | ) | — |  | (782 | )
AOCL, December 31, 2014 | $ | — |  | $ | (1,187 | ) | $ | — |  | $ | (1,187 | )
The components of, and changes in, AOCL were as follows (net of tax) for the six months ended December 31, 2014 (in thousands):
Attributable to Kennametal: | Postretirement benefit plans | Currency translation adjustment | Derivatives | Total
Balance, June 30, 2014 | $ | (93,742 | ) | $ | 38,811 |  | $ | (11,200 | ) | $ | (66,131 | )
Other comprehensive loss before reclassifications | 5,565 |  | (79,448 | ) | 2,713 |  | (71,170 | )
Amounts reclassified from AOCL | 1,489 |  | — |  | 329 |  | 1,818 |
Net current period other comprehensive loss | 7,054 |  | (79,448 | ) | 3,042 |  | (69,352 | )
AOCL, December 31, 2014 | $ | (86,688 | ) | $ | (40,637 | ) | $ | (8,158 | ) | $ | (135,483 | )
Attributable to noncontrolling interests: |  |  |  |
Balance, June 30, 2014 | $ | — |  | $ | 1,087 |  | $ | — |  | $ | 1,087 |
Other comprehensive loss before reclassifications | — |  | (2,274 | ) | — |  | (2,274 | )
Net current period other comprehensive loss | — |  | (2,274 | ) | — |  | (2,274 | )
AOCL, December 31, 2014 | $ | — |  | $ | (1,187 | ) | $ | — |  | $ | (1,187 | )
Reclassifications out of AOCL for the three and six months ended December 31, 2015 and 2014 consisted of the following (in thousands):
| Three Months Ended December 31, |  | Six Months Ended December 31, |
Details about AOCL components | 2015 |  | 2014 |  | 2015 |  | 2014 | Affected line item in the Income Statement
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |
Forward starting interest rate swaps | $ | 525 |  |  | $ | 505 |  |  | $ | 1,049 |  |  | $ | 1,010 |  | Interest expense
Currency exchange contracts | (1,199 | ) |  | (562 | ) |  | (4,572 | ) |  | (474 | ) | Other (income) expense, net
Total before tax | (674 | ) |  | (57 | ) |  | (3,523 | ) |  | 536 |  |
Tax expense (benefit) | 256 |  |  | 22 |  |  | 1,339 |  |  | (207 | ) | (Benefit) provision for income taxes
Net of tax | $ | (418 | ) |  | $ | (35 | ) |  | $ | (2,184 | ) |  | $ | 329 |  |
Postretirement benefit plans: |  |  |  |  |  |  |  |
Amortization of transition obligations | $ | 21 |  |  | $ | 19 |  |  | $ | 42 |  |  | $ | 40 |  | See note 10 for further details
Amortization of prior service credit | (109 | ) |  | (99 | ) |  | (220 | ) |  | (196 | ) | See note 10 for further details
Recognition of actuarial losses | 1,896 |  |  | 1,144 |  |  | 3,810 |  |  | 2,351 |  | See note 10 for further details
Total before taxes | 1,808 |  |  | 1,064 |  |  | 3,632 |  |  | 2,195 |  |
Tax (benefit) | (605 | ) |  | (329 | ) |  | (1,210 | ) |  | (706 | ) | (Benefit) provision for income taxes
Net of tax | $ | 1,203 |  |  | $ | 735 |  |  | $ | 2,422 |  |  | $ | 1,489 |  |
Foreign currency translation adjustments: |  |  |  |  |  |  |  |
Released due to divestiture | $ | 17,028 |  |  | $ | — |  |  | $ | 17,028 |  |  | $ | — |  | Loss on divestiture
Total before taxes | 17,028 |  |  | — |  |  | 17,028 |  |  | — |  |
Tax benefit | — |  |  | — |  |  | — |  |  | — |  | (Benefit) provision for income taxes
Net of tax | $ | 17,028 |  |  | $ | — |  |  | $ | 17,028 |  |  | $ | — |  |
The amount of income tax allocated to each component of other comprehensive (loss) for the three months ended December 31, 2015 and 2014:
|  | 2015 |  |  |  |  | 2014 |
(in thousands) | Pre-tax | Tax impact | Net of tax |  |  | Pre-tax | Tax impact | Net of tax
Unrealized gain on derivatives designated and qualified as cash flow hedges | $ | 447 |  | $ | (170 | ) | $ | 277 |  |  |  | $ | 1,964 |  | $ | (758 | ) | $ | 1,206 |
Reclassification of unrealized gain on expired derivatives designated and qualified as cash flow hedges | (674 | ) | 256 |  | (418 | ) |  |  | (57 | ) | 22 |  | (35 | )
Unrecognized net pension and other postretirement benefit gain | 1,949 |  | (499 | ) | 1,450 |  |  |  | 2,608 |  | (684 | ) | 1,924 |
Reclassification of net pension and other postretirement benefit loss | 1,808 |  | (605 | ) | 1,203 |  |  |  | 1,064 |  | (329 | ) | 735 |
Foreign currency translation adjustments | (24,643 | ) | 1,004 |  | (23,639 | ) |  |  | (31,675 | ) | 1,466 |  | (30,209 | )
Reclassification of foreign currency translation adjustment loss realized upon sale | 17,028 |  | — |  | 17,028 |  |  |  | — |  | — |  | — |
Other comprehensive (loss) | $ | (4,085 | ) | $ | (14 | ) | $ | (4,099 | ) |  |  | $ | (26,096 | ) | $ | (283 | ) | $ | (26,379 | )
The amount of income tax allocated to each component of other comprehensive (loss) for the six months ended December 31, 2015 and 2014:
|  | 2015 |  |  |  |  | 2014 |
(in thousands) | Pre-tax | Tax impact | Net of tax |  |  | Pre-tax | Tax impact | Net of tax
Unrealized gain on derivatives designated and qualified as cash flow hedges | $ | 1,294 |  | $ | (492 | ) | $ | 802 |  |  |  | $ | 4,419 |  | $ | (1,706 | ) | $ | 2,713 |
Reclassification of unrealized (gain) loss on expired derivatives designated and qualified as cash flow hedges | (3,523 | ) | 1,339 |  | (2,184 | ) |  |  | 536 |  | (207 | ) | 329 |
Unrecognized net pension and other postretirement benefit gain | 3,216 |  | (767 | ) | 2,449 |  |  |  | 7,586 |  | (2,021 | ) | 5,565 |
Reclassification of net pension and other postretirement benefit loss | 3,632 |  | (1,210 | ) | 2,422 |  |  |  | 2,195 |  | (706 | ) | 1,489 |
Foreign currency translation adjustments | (43,548 | ) | 1,060 |  | (42,488 | ) |  |  | (86,519 | ) | 4,797 |  | (81,722 | )
Reclassification of foreign currency translation adjustment loss realized upon sale | 17,028 |  | — |  | 17,028 |  |  |  | — |  | — |  | — |
Other comprehensive (loss) | $ | (21,901 | ) | $ | (70 | ) | $ | (21,971 | ) |  |  | $ | (71,783 | ) | $ | 157 |  | $ | (71,626 | )

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e689-108580 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669619-108580 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e640-108580 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e716-108580 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e709-108580 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e681-108580 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Reclassification Adjustments -URI http://asc.fasb.org/extlink&oid=6522872 + Details
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