XML 32 R22.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Accumulated Other Comprehensive Loss | 6 Months Ended
--- | ---
Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Accumulated Other Comprehensive Loss | ACCUMULATED OTHER COMPREHENSIVE LOSS The components of, and changes in, accumulated other comprehensive loss (AOCL) were as follows, net of tax, for the six months ended December 31, 2018:
(in thousands) | Postretirement benefit plans | Currency translation adjustment | Derivatives | Total
Attributable to Kennametal: |  |  |  |
Balance, June 30, 2018 | $ | (187,755 | ) | $ | (127,347 | ) | $ | (5,223 | ) | $ | (320,325 | )
Other comprehensive income (loss) before reclassifications | 1,194 |  | (18,873 | ) | (91 | ) | (17,770 | )
Amounts reclassified from AOCL | 2,606 |  | — |  | 857 |  | 3,463 |
Net current period other comprehensive income (loss) | 3,800 |  | (18,873 | ) | 766 |  | (14,307 | )
AOCL, December 31, 2018 | $ | (183,955 | ) | $ | (146,220 | ) | $ | (4,457 | ) | $ | (334,632 | )
Attributable to noncontrolling interests: |  |  |  |
Balance, June 30, 2018 | $ | — |  | $ | (2,913 | ) | $ | — |  | $ | (2,913 | )
Other comprehensive loss before reclassifications | — |  | (732 | ) | — |  | (732 | )
Net current period other comprehensive loss | — |  | (732 | ) | — |  | (732 | )
AOCL, December 31, 2018 | $ | — |  | $ | (3,645 | ) | $ | — |  | $ | (3,645 | )
The components of, and changes in, AOCL were as follows, net of tax, for the six months ended December 31, 2017:
(in thousands) | Postretirement benefit plans | Currency translation adjustment | Derivatives | Total
Attributable to Kennametal: |  |  |  |
Balance, June 30, 2017 | $ | (189,038 | ) | $ | (126,606 | ) | $ | (8,048 | ) | $ | (323,692 | )
Other comprehensive (loss) income before reclassifications | (2,590 | ) | 32,620 |  | (905 | ) | 29,125 |
Amounts reclassified from AOCL | 3,348 |  | — |  | 1,403 |  | 4,751 |
Net current period other comprehensive income | 758 |  | 32,620 |  | 498 |  | 33,876 |
AOCL, December 31, 2017 | $ | (188,280 | ) | $ | (93,986 | ) | $ | (7,550 | ) | $ | (289,816 | )
Attributable to noncontrolling interests: |  |  |  |
Balance, June 30, 2017 | $ | — |  | $ | (2,164 | ) | $ | — |  | $ | (2,164 | )
Other comprehensive income before reclassifications | — |  | 1,173 |  | — |  | 1,173 |
Net current period other comprehensive income | — |  | 1,173 |  | — |  | 1,173 |
AOCL, December 31, 2017 | $ | — |  | $ | (991 | ) | $ | — |  | $ | (991 | )
Reclassifications out of AOCL for the three and six months ended December 31, 2018 and 2017 consisted of the following:
| Three Months Ended December 31, | Six Months Ended December 31, |  |
(in thousands) | 2018 |  | 2017 | 2018 |  | 2017 |  | Affected line item in the Income Statement
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |
Forward starting interest rate swaps | $ | 588 |  |  | $ | 566 |  | $ | 1,176 |  |  | $ | 1,132 |  |  | Interest expense
Currency exchange contracts | (241 | ) |  | 768 |  | (41 | ) |  | 726 |  |  | Other income, net
Total before tax | 347 |  |  | 1,334 |  | 1,135 |  |  | 1,858 |  |  |
Tax impact | (85 | ) |  | (327 | ) | (278 | ) |  | (455 | ) |  | Provision for income taxes
Net of tax | $ | 262 |  |  | $ | 1,007 |  | $ | 857 |  |  | $ | 1,403 |  |  |
Postretirement benefit plans: |  |  |  |  |  |  |  |
Amortization of transition obligations | $ | 23 |  |  | $ | 23 |  | $ | 45 |  |  | $ | 46 |  |  | Other income, net
Amortization of prior service (credit) cost | (27 | ) |  | (47 | ) | (55 | ) |  | 121 |  |  | Other income, net
Recognition of actuarial losses | 1,741 |  |  | 1,788 |  | 3,498 |  |  | 3,568 |  |  | Other income, net
Total before tax | 1,737 |  |  | 1,764 |  | 3,488 |  |  | 3,735 |  |  |
Tax impact | (439 | ) |  | (195 | ) | (882 | ) |  | (387 | ) |  | Provision for income taxes
Net of tax | $ | 1,298 |  |  | $ | 1,569 |  | $ | 2,606 |  |  | $ | 3,348 |  |  |
The amount of income tax allocated to each component of other comprehensive (loss) income for the three months ended December 31, 2018 and 2017 were as follows:
|  | 2018 |  |  |  |  | 2017 |
(in thousands) | Pre-tax | Tax impact | Net of tax |  |  | Pre-tax | Tax impact | Net of tax
Unrealized gain (loss) on derivatives designated and qualified as cash flow hedges | $ | 225 |  | $ | (55 | ) | $ | 170 |  |  |  | $ | (379 | ) | $ | 93 |  | $ | (286 | )
Reclassification of unrealized loss on derivatives designated and qualified as cash flow hedges | 347 |  | (85 | ) | 262 |  |  |  | 1,334 |  | (327 | ) | 1,007 |
Unrecognized net pension and other postretirement benefit gain (loss) | 1,134 |  | (263 | ) | 871 |  |  |  | (834 | ) | 209 |  | (625 | )
Reclassification of net pension and other postretirement benefit loss | 1,737 |  | (439 | ) | 1,298 |  |  |  | 1,764 |  | (195 | ) | 1,569 |
Foreign currency translation adjustments | (3,407 | ) | 7 |  | (3,400 | ) |  |  | 13,996 |  | (72 | ) | 13,924 |
Other comprehensive (loss) income | $ | 36 |  | $ | (835 | ) | $ | (799 | ) |  |  | $ | 15,881 |  | $ | (292 | ) | $ | 15,589 |
The amount of income tax allocated to each component of other comprehensive (loss) income for the six months ended December 31, 2018 and 2017 were as follows:
|  | 2018 |  |  |  |  | 2017 |
(in thousands) | Pre-tax | Tax impact | Net of tax |  |  | Pre-tax | Tax impact | Net of tax
Unrealized loss on derivatives designated and qualified as cash flow hedges | $ | (121 | ) | $ | 30 |  | $ | (91 | ) |  |  | $ | (1,199 | ) | $ | 294 |  | $ | (905 | )
Reclassification of unrealized loss on derivatives designated and qualified as cash flow hedges | 1,135 |  | (278 | ) | 857 |  |  |  | 1,858 |  | (455 | ) | 1,403 |
Unrecognized net pension and other postretirement benefit gain (loss) | 1,551 |  | (357 | ) | 1,194 |  |  |  | (3,434 | ) | 844 |  | (2,590 | )
Reclassification of net pension and other postretirement benefit loss | 3,488 |  | (882 | ) | 2,606 |  |  |  | 3,735 |  | (387 | ) | 3,348 |
Foreign currency translation adjustments | (19,679 | ) | 74 |  | (19,605 | ) |  |  | 34,058 |  | (265 | ) | 33,793 |
Other comprehensive (loss) income | $ | (13,626 | ) | $ | (1,413 | ) | $ | (15,039 | ) |  |  | $ | 35,018 |  | $ | 31 |  | $ | 35,049 |

X
- References No definition available. + Details
Name: | us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 + Details
Name: | us-gaap_ComprehensiveIncomeNoteTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration