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Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended
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Dec. 31, 2019
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, 2019:
(in thousands) | Pension and other postretirement benefits | Currency translation adjustment | Derivatives | Total
Attributable to Kennametal: |  |  |  |
Balance, June 30, 2019 | $ | (222,270 | ) | $ | (147,595 | ) | $ | (3,678 | ) | $ | (373,543 | )
Other comprehensive (loss) income before reclassifications | (449 | ) | (8,821 | ) | 856 |  | (8,414 | )
Amounts reclassified from AOCL | 3,950 |  | — |  | (212 | ) | 3,738 |
Net current period other comprehensive income (loss) | 3,501 |  | (8,821 | ) | 644 |  | (4,676 | )
AOCL, December 31, 2019 | $ | (218,769 | ) | $ | (156,416 | ) | $ | (3,034 | ) | $ | (378,219 | )
Attributable to noncontrolling interests: |  |  |  |
Balance, June 30, 2019 | $ | — |  | $ | (3,450 | ) | $ | — |  | $ | (3,450 | )
Other comprehensive loss before reclassifications | — |  | (853 | ) | — |  | (853 | )
Net current period other comprehensive loss | — |  | (853 | ) | — |  | (853 | )
AOCL, December 31, 2019 | $ | — |  | $ | (4,303 | ) | $ | — |  | $ | (4,303 | )
The components of, and changes in, AOCL were as follows, net of tax, for the six months ended December 31, 2018:
(in thousands) | Pension and other postretirement benefits | 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 | )
Reclassification out of Accumulated Other Comprehensive Loss | Reclassifications out of AOCL for the three and six months ended December 31, 2019 and 2018 consisted of the following:
| Three Months Ended December 31, | Six Months Ended December 31, |  |
(in thousands) | 2019 |  | 2018 | 2019 |  | 2018 |  | Affected line item in the Income Statement
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |
Forward starting interest rate swaps | $ | 611 |  |  | $ | 588 |  | $ | 1,222 |  |  | $ | 1,176 |  |  | Interest expense
Currency exchange contracts | (1,132 | ) |  | (241 | ) | (1,503 | ) |  | (41 | ) |  | Cost of goods sold and other income, net
Total before tax | (521 | ) |  | 347 |  | (281 | ) |  | 1,135 |  |  |
Tax impact | 128 |  |  | (85 | ) | 69 |  |  | (278 | ) |  | (Benefit) provision for income taxes
Net of tax | $ | (393 | ) |  | $ | 262 |  | $ | (212 | ) |  | $ | 857 |  |  |
Pension and other postretirement benefits: |  |  |  |  |  |  |  |
Amortization of transition obligations | $ | 22 |  |  | $ | 23 |  | $ | 44 |  |  | $ | 45 |  |  | Other income, net
Amortization of prior service credit | (56 | ) |  | (27 | ) | (113 | ) |  | (55 | ) |  | Other income, net
Recognition of actuarial losses | 2,649 |  |  | 1,741 |  | 5,308 |  |  | 3,498 |  |  | Other income, net
Total before tax | 2,615 |  |  | 1,737 |  | 5,239 |  |  | 3,488 |  |  |
Tax impact | (625 | ) |  | (439 | ) | (1,289 | ) |  | (882 | ) |  | (Benefit) provision for income taxes
Net of tax | $ | 1,990 |  |  | $ | 1,298 |  | $ | 3,950 |  |  | $ | 2,606 |  |  |
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 income (loss) for the three months ended December 31, 2019 and 2018 were as follows:
|  | 2019 |  |  |  |  | 2018 |
(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 | $ | 611 |  | $ | (150 | ) | $ | 461 |  |  |  | $ | 225 |  | $ | (55 | ) | $ | 170 |
Reclassification of unrealized (gain) loss on derivatives designated and qualified as cash flow hedges | (521 | ) | 128 |  | (393 | ) |  |  | 347 |  | (85 | ) | 262 |
Unrecognized net pension and other postretirement benefit (loss) gain | (3,887 | ) | 831 |  | (3,056 | ) |  |  | 1,134 |  | (263 | ) | 871 |
Reclassification of net pension and other postretirement benefit loss | 2,615 |  | (625 | ) | 1,990 |  |  |  | 1,737 |  | (439 | ) | 1,298 |
Foreign currency translation adjustments | 25,871 |  | (120 | ) | 25,751 |  |  |  | (3,407 | ) | 7 |  | (3,400 | )
Other comprehensive income (loss) | $ | 24,689 |  | $ | 64 |  | $ | 24,753 |  |  |  | $ | 36 |  | $ | (835 | ) | $ | (799 | )
The amount of income tax allocated to each component of other comprehensive loss for the six months ended December 31, 2019 and 2018 were as follows:
|  | 2019 |  |  |  |  | 2018 |
(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 | $ | 1,134 |  | $ | (278 | ) | $ | 856 |  |  |  | $ | (121 | ) | $ | 30 |  | $ | (91 | )
Reclassification of unrealized (gain) loss on derivatives designated and qualified as cash flow hedges | (281 | ) | 69 |  | (212 | ) |  |  | 1,135 |  | (278 | ) | 857 |
Unrecognized net pension and other postretirement benefit (loss) gain | (418 | ) | (31 | ) | (449 | ) |  |  | 1,551 |  | (357 | ) | 1,194 |
Reclassification of net pension and other postretirement benefit loss | 5,239 |  | (1,289 | ) | 3,950 |  |  |  | 3,488 |  | (882 | ) | 2,606 |
Foreign currency translation adjustments | (9,707 | ) | 33 |  | (9,674 | ) |  |  | (19,679 | ) | 74 |  | (19,605 | )
Other comprehensive loss | $ | (4,033 | ) | $ | (1,496 | ) | $ | (5,529 | ) |  |  | $ | (13,626 | ) | $ | (1,413 | ) | $ | (15,039 | )

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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=118930883&loc=d3e526-108580 + Details
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