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Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended
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Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Components of, and changes in 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 | )
Reclassification out of Accumulated Other Comprehensive Loss | 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 |  |  |
Income Tax Allocated to Each Component of Other Comprehensive Income [Table Text Block] | 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 |

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- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=114867106&loc=d3e526-108580 + Details
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