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Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended
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Sep. 30, 2020
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 three months ended September 30, 2020:
(in thousands) | Pension and other postretirement benefits | Currency translation adjustment | Derivatives | Total
Attributable to Kennametal: |  |  |  |
Balance, June 30, 2020 | $ | (232,634) |  | $ | (181,027) |  | $ | (3,581) |  | $ | (417,242) |
Other comprehensive (loss) income before reclassifications | (3,310) |  | 30,668 |  | 1,210 |  | 28,568 |
Amounts reclassified from AOCL | 2,565 |  | — |  | 461 |  | 3,026 |
Net current period other comprehensive (loss) income | (745) |  | 30,668 |  | 1,671 |  | 31,594 |
AOCL, September 30, 2020 | $ | (233,379) |  | $ | (150,359) |  | $ | (1,910) |  | $ | (385,648) |
Attributable to noncontrolling interests: |  |  |  |
Balance, June 30, 2020 | $ | — |  | $ | (5,909) |  | $ | — |  | $ | (5,909) |
Other comprehensive income before reclassifications | — |  | 1,278 |  | — |  | 1,278 |
Net current period other comprehensive income | — |  | 1,278 |  | — |  | 1,278 |
AOCL, September 30, 2020 | $ | — |  | $ | (4,631) |  | $ | — |  | $ | (4,631) |
The components of, and changes in, AOCL were as follows, net of tax, for the three months ended September 30, 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 income (loss) before reclassifications | 2,607 |  | (34,034) |  | 395 |  | (31,032) |
Amounts reclassified from AOCL | 1,960 |  | — |  | 181 |  | 2,141 |
Net current period other comprehensive income (loss) | 4,567 |  | (34,034) |  | 576 |  | (28,891) |
AOCL, September 30, 2019 | $ | (217,703) |  | $ | (181,629) |  | $ | (3,102) |  | $ | (402,434) |
Attributable to noncontrolling interests: |  |  |  |
Balance, June 30, 2019 | $ | — |  | $ | (3,450) |  | $ | — |  | $ | (3,450) |
Other comprehensive loss before reclassifications | — |  | (1,392) |  | — |  | (1,392) |
Net current period other comprehensive loss | — |  | (1,392) |  | — |  | (1,392) |
AOCL, September 30, 2019 | $ | — |  | $ | (4,842) |  | $ | — |  | $ | (4,842) |
Reclassification out of Accumulated Other Comprehensive Loss | Reclassifications out of AOCL for the three months ended September 30, 2020 and 2019 consisted of the following:
| Three Months Ended September 30, |  |  |
(in thousands) | 2020 |  | 2019 |  |  |  |  | Affected line item in the Income Statement
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |
Forward starting interest rate swaps | $ | 635 |  |  | $ | 611 |  |  |  |  |  | Interest expense
Currency exchange contracts | (24) |  |  | (371) |  |  |  |  |  | Cost of goods sold and other income, net
Total before tax | 611 |  |  | 240 |  |  |  |  |  |
Tax impact | (150) |  |  | (59) |  |  |  |  |  | (Benefit) provision for income taxes
Net of tax | $ | 461 |  |  | $ | 181 |  |  |  |  |  |
Pension and other postretirement benefits: |  |  |  |  |  |  |  |
Amortization of transition obligations | $ | 23 |  |  | $ | 22 |  |  |  |  |  | Other income, net
Amortization of prior service credit | (61) |  |  | (57) |  |  |  |  |  | Other income, net
Recognition of actuarial losses | 3,449 |  |  | 2,659 |  |  |  |  |  | Other income, net
Total before tax | 3,411 |  |  | 2,624 |  |  |  |  |  |
Tax impact | (846) |  |  | (664) |  |  |  |  |  | (Benefit) provision for income taxes
Net of tax | $ | 2,565 |  |  | $ | 1,960 |  |  |  |  |  |
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 September 30, 2020 and 2019 were as follows:
|  | 2020 |  |  |  |  | 2019 |
(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 | $ | 1,603 |  | $ | (393) |  | $ | 1,210 |  |  |  | $ | 523 |  | $ | (128) |  | $ | 395 |
Reclassification of unrealized loss on derivatives designated and qualified as cash flow hedges | 611 |  | (150) |  | 461 |  |  |  | 240 |  | (59) |  | 181 |
Unrecognized net pension and other postretirement benefit (loss) gain | (4,382) |  | 1,072 |  | (3,310) |  |  |  | 3,469 |  | (862) |  | 2,607 |
Reclassification of net pension and other postretirement benefit loss | 3,411 |  | (846) |  | 2,565 |  |  |  | 2,624 |  | (664) |  | 1,960 |
Foreign currency translation adjustments | 32,106 |  | (160) |  | 31,946 |  |  |  | (35,579) |  | 153 |  | (35,426) |
Other comprehensive income (loss) | $ | 33,349 |  | $ | (477) |  | $ | 32,872 |  |  |  | $ | (28,723) |  | $ | (1,560) |  | $ | (30,283) |

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- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
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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=121641772&loc=d3e526-108580 + Details
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