Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

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)