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Stock-Based Compensation | 9 Months Ended
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Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION Stock Options There were no grants made during the nine months ended March 31, 2018 and 2017. Changes in our stock options for the nine months ended March 31, 2018 were as follows:
| Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Life (years) |  | Aggregate Intrinsic value (in thousands)
Options outstanding, June 30, 2017 | 1,726,791 |  |  | $ | 34.08 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised | (609,230 | ) |  | 35.68 |  |  |  |  |
Lapsed or forfeited | (94,292 | ) |  | 34.06 |  |  |  |  |
Options outstanding, March 31, 2018 | 1,023,269 |  |  | $ | 33.12 |  |  | 5.2 |  | $ | 8,168 |
Options vested and expected to vest, March 31, 2018 | 1,020,522 |  |  | $ | 33.13 |  |  | 5.2 |  | $ | 8,141 |
Options exercisable, March 31, 2018 | 845,436 |  |  | $ | 33.98 |  |  | 4.7 |  | $ | 6,159 |
During the nine months ended March 31, 2018 and 2017, compensation expense related to stock options was $0.6 million and $1.3 million, respectively. As of March 31, 2018, the total unrecognized compensation cost related to options outstanding was $0.2 million and is expected to be recognized over a weighted average period of 0.5 years. Fair value of options vested during the nine months ended March 31, 2018 and 2017 was $1.9 million and $3.3 million, respectively. Tax benefits relating to excess stock-based compensation deductions are presented in the operating activities section of the condensed consolidated statements of cash flow for the nine months ended March 31, 2018. Tax benefits resulting from stock-based compensation deductions were greater than the amounts reported for financial reporting purposes by $0.1 million for the nine months ended March 31, 2018, and no tax benefits were realized for the nine months ended March 31, 2017 due to the valuation allowance on U.S. deferred tax assets. The amount of cash received from the exercise of capital stock options during the nine months ended March 31, 2018 and 2017 was $21.7 million and $7.2 million, respectively. The related tax benefit was $1.4 million for the nine months ended March 31, 2018, and there was no related tax benefit realized for the nine months ended March 31, 2017 due to the valuation allowance on U.S. deferred tax assets. The total intrinsic value of options exercised during the nine months ended March 31, 2018 and 2017 was $6.4 million and $1.6 million, respectively. Under the provisions of the Kennametal Inc. Stock and Incentive Plan of 2010, as amended and restated on October 22, 2013 and as further amended January 27, 2015, and the Kennametal Inc. 2016 Stock and Incentive Plan, plan participants may deliver stock, owned by the holder for at least six months, in payment of the option price and receive credit for the fair market value of the shares on the date of delivery. The fair market value of shares delivered during the nine months ended March 31, 2018 and 2017 was immaterial. Restricted Stock Units – Time Vesting and Performance Vesting Performance vesting restricted stock units are earned pro rata each year if certain performance goals are met over a three-year period and are also subject to a service condition that requires the individual to be employed by the Company at the vesting date after the three-year performance period has ended, with the exception of retirement eligible grantees, who upon retirement are entitled to vest in any units that have been earned, including a prorated portion for the partially completed fiscal year in which the retirement occurs. Time vesting stock units are valued at the market value of the stock on the grant date. Performance vesting stock units with a market condition are valued using a Monte Carlo model. Changes in our time vesting and performance vesting restricted stock units for the nine months ended March 31, 2018 were as follows:
| Performance Vesting Stock Units |  | Performance Vesting Weighted Average Fair Value |  | Time Vesting Stock Units |  | Time Vesting Weighted Average Fair Value
Unvested, June 30, 2017 | 280,250 |  |  | $ | 27.62 |  |  | 1,153,444 |  |  | $ | 27.66 |
Granted | 158,397 |  |  | 38.81 |  |  | 434,391 |  |  | 37.87 |
Vested | (10,031 | ) |  | 42.83 |  |  | (417,712 | ) |  | 30.27 |
Performance metric adjustments, net | 16,766 |  |  | 25.88 |  |  | — |  |  | — |
Forfeited | (36,085 | ) |  | 30.91 |  |  | (66,507 | ) |  | 30.98 |
Unvested, March 31, 2018 | 409,297 |  |  | $ | 31.22 |  |  | 1,103,616 |  |  | $ | 30.47 |
During the nine months ended March 31, 2018 and 2017, compensation expense related to time vesting and performance vesting restricted stock units was $15.0 million and $15.8 million, respectively. As of March 31, 2018, the total unrecognized compensation cost related to unvested time vesting and performance vesting restricted stock units was $18.1 million and is expected to be recognized over a weighted average period of 2.0 years.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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