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Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended
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Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Components of Accumulated Other Comprehensive I(Loss) Income [Table Text Block] | The components of and changes in accumulated other comprehensive loss (AOCL) were as follows, net of tax, for the year ended June 30, 2021 (in thousands):
Attributable to Kennametal: | Pension and other postretirement benefits | Currency translation adjustment | Derivatives | Total
Balance, June 30, 2020 | $ | (232,634) |  | $ | (181,027) |  | $ | (3,581) |  | $ | (417,242) |
Other comprehensive income before reclassifications | 9,107 |  | 58,599 |  | 9,255 |  | 76,961 |
Amounts Reclassified from AOCL | 10,355 |  | — |  | (401) |  | 9,954 |
Net other comprehensive income | 19,462 |  | 58,599 |  | 8,854 |  | 86,915 |
AOCL, June 30, 2021 | $ | (213,172) |  | $ | (122,428) |  | $ | 5,273 |  | $ | (330,327) |
Attributable to noncontrolling interests: |  |  |  |
Balance, June 30, 2020 | $ | — |  | $ | (5,909) |  | $ | — |  | $ | (5,909) |
Other comprehensive income before reclassifications | — |  | 1,927 |  | — |  | 1,927 |
Net other comprehensive income | — |  | 1,927 |  | — |  | 1,927 |
AOCL, June 30, 2021 | $ | — |  | $ | (3,982) |  | $ | — |  | $ | (3,982) |
The components of and changes in AOCL were as follows, net of tax, for the year ended June 30, 2020 (in thousands):
Attributable to Kennametal: | Pension and other postretirement benefits | Currency translation adjustment | Derivatives | Total
Balance, June 30, 2019 | $ | (222,270) |  | $ | (147,595) |  | $ | (3,678) |  | $ | (373,543) |
Other comprehensive loss before reclassifications | (18,299) |  | (33,432) |  | (582) |  | (52,313) |
Amounts Reclassified from AOCL | 7,935 |  | — |  | 679 |  | 8,614 |
Net other comprehensive loss | (10,364) |  | (33,432) |  | 97 |  | (43,699) |
AOCL, June 30, 2020 | $ | (232,634) |  | $ | (181,027) |  | $ | (3,581) |  | $ | (417,242) |
Attributable to noncontrolling interests: |  |  |  |
Balance, June 30, 2019 | $ | — |  | $ | (3,450) |  | $ | — |  | $ | (3,450) |
Other comprehensive loss before reclassifications | — |  | (2,459) |  | — |  | (2,459) |
Net other comprehensive loss | — |  | (2,459) |  | — |  | (2,459) |
AOCL, June 30, 2020 | $ | — |  | $ | (5,909) |  | $ | — |  | $ | (5,909) |
The components of and changes in AOCL were as follows, net of tax, for the year ended June 30, 2019 (in thousands):
Attributable to Kennametal: | Pension and other postretirement benefits | Currency translation adjustment | Derivatives | Total
Balance, June 30, 2018 | $ | (187,755) |  | $ | (127,347) |  | $ | (5,223) |  | $ | (320,325) |
Other comprehensive loss before reclassifications | (39,639) |  | (20,248) |  | 197 |  | (59,690) |
Amounts Reclassified from AOCL | 5,124 |  | — |  | 1,348 |  | 6,472 |
Net other comprehensive (loss) income | (34,515) |  | (20,248) |  | 1,545 |  | (53,218) |
AOCL, June 30, 2019 | $ | (222,270) |  | $ | (147,595) |  | $ | (3,678) |  | $ | (373,543) |
Attributable to noncontrolling interests: |  |  |  |
Balance, June 30, 2018 | $ | — |  | $ | (2,913) |  | $ | — |  | $ | (2,913) |
Other comprehensive loss before reclassifications | — |  | (537) |  | — |  | (537) |
Net other comprehensive loss | — |  | (537) |  | — |  | (537) |
AOCL, June 30, 2019 | $ | — |  | $ | (3,450) |  | $ | — |  | $ | (3,450) |
Reclassification out of Accumulated Other Comprehensive Loss | Reclassifications out of AOCL for the years ended June 30, 2021, 2020 and 2019 consisted of the following:
| Year Ended June 30, |
Details about AOCL components (in thousands) | 2021 | 2020 | 2019 | Affected line item in the Income Statement
Losses and (gains) on cash flow hedges: |  |  |  |
Forward starting interest rate swaps | $ | 4,082 |  | $ | 2,444 |  | $ | 2,352 |  | Interest expense
Currency exchange contracts | (24) |  | (1,545) |  | (567) |  | Other income, net
Total before tax | 4,058 |  | 899 |  | 1,785 |  |
Tax impact | (4,459) |  | (220) |  | (437) |  | Provision for income taxes
Net of tax | $ | (401) |  | $ | 679 |  | $ | 1,348 |  |
Pension and other postretirement benefits: |  |  |  |
Amortization of transition obligations | $ | 94 |  | $ | 88 |  | $ | 91 |  | Other income, net
Amortization of prior service credit | (242) |  | (226) |  | (109) |  | Other income, net
Recognition of actuarial losses | 13,913 |  | 10,616 |  | 6,971 |  | Other income, net
Total before tax | 13,765 |  | 10,478 |  | 6,953 |  |
Tax impact | (3,410) |  | (2,543) |  | (1,829) |  | Provision for income taxes
Net of tax | $ | 10,355 |  | $ | 7,935 |  | $ | 5,124 |  |
Amount of Income Tax (Expense) Benefit Allocated to Each Component of Other Comprehensive Income (Loss) [Table Text Block] | The amount of income tax allocated to each component of other comprehensive income for the year ended June 30, 2021:
(in thousands) | Pre-tax | Tax impact | Net of tax
Unrealized gain on derivatives designated and qualified as cash flow hedges | $ | 12,264 |  | $ | (3,009) |  | $ | 9,255 |
Reclassification of unrealized loss (gain) on expired derivatives designated and qualified as cash flow hedges | 4,058 |  | (4,459) |  | (401) |
Unrecognized net pension and other postretirement benefit gain | 11,901 |  | (2,794) |  | 9,107 |
Reclassification of net pension and other postretirement benefit loss | 13,765 |  | (3,410) |  | 10,355 |
Foreign currency translation adjustments | 61,038 |  | (510) |  | 60,528 |
Other comprehensive income | $ | 103,026 |  | $ | (14,182) |  | $ | 88,844 |
The amount of income tax allocated to each component of other comprehensive loss for the year ended June 30, 2020:
(in thousands) | Pre-tax | Tax impact | Net of tax
Unrealized loss on derivatives designated and qualified as cash flow hedges | $ | (771) |  | $ | 189 |  | $ | (582) |
Reclassification of unrealized loss on expired derivatives designated and qualified as cash flow hedges | 899 |  | (220) |  | 679 |
Unrecognized net pension and other postretirement benefit loss | (23,999) |  | 5,700 |  | (18,299) |
Reclassification of net pension and other postretirement benefit loss | 10,478 |  | (2,543) |  | 7,935 |
Foreign currency translation adjustments | (35,936) |  | 45 |  | (35,891) |
Other comprehensive loss | $ | (49,329) |  | $ | 3,171 |  | $ | (46,158) |
The amount of income tax allocated to each component of other comprehensive loss for the year ended June 30, 2019:
(in thousands) | Pre-tax | Tax impact | Net of tax
Unrealized gain on derivatives designated and qualified as cash flow hedges | $ | 261 |  | $ | (64) |  | $ | 197 |
Reclassification of unrealized loss on expired derivatives designated and qualified as cash flow hedges | 1,785 |  | (437) |  | 1,348 |
Unrecognized net pension and other postretirement benefit loss | (52,087) |  | 12,448 |  | (39,639) |
Reclassification of net pension and other postretirement benefit loss | 6,953 |  | (1,829) |  | 5,124 |
Foreign currency translation adjustments | (20,881) |  | 96 |  | (20,785) |
Other comprehensive loss | $ | (63,969) |  | $ | 10,214 |  | $ | (53,755) |

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