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Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended
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Sep. 30, 2021
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, 2021:
(in thousands) | Pension and other postretirement benefits | Currency translation adjustment | Derivatives | Total
Attributable to Kennametal: |  |  |  |
Balance, June 30, 2021 | $ | (213,172) |  | $ | (122,428) |  | $ | 5,273 |  | $ | (330,327) |
Other comprehensive income (loss) before reclassifications | 1,904 |  | (16,021) |  | — |  | (14,117) |
Amounts reclassified from AOCL | 2,215 |  | — |  | (192) |  | 2,023 |
Net other comprehensive income (loss) | 4,119 |  | (16,021) |  | (192) |  | (12,094) |
AOCL, September 30, 2021 | $ | (209,053) |  | $ | (138,449) |  | $ | 5,081 |  | $ | (342,421) |
Attributable to noncontrolling interests: |  |  |  |
Balance, June 30, 2021 | $ | — |  | $ | (3,982) |  | $ | — |  | $ | (3,982) |
Other comprehensive loss before reclassifications | — |  | (455) |  | — |  | (455) |
Net other comprehensive loss | — |  | (455) |  | — |  | (455) |
AOCL, September 30, 2021 | $ | — |  | $ | (4,437) |  | $ | — |  | $ | (4,437) |
The components of, and changes in, 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 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 other comprehensive income | — |  | 1,278 |  | — |  | 1,278 |
AOCL, September 30, 2020 | $ | — |  | $ | (4,631) |  | $ | — |  | $ | (4,631) |
Reclassification out of Accumulated Other Comprehensive Loss | Reclassifications out of AOCL for the three months ended September 30, 2021 and 2020 consisted of the following:
| Three Months Ended September 30, |  |
(in thousands) | 2021 |  | 2020 |  | Affected line item in the Income Statement
(Gains) and losses on cash flow hedges: |  |  |  |  |
Forward starting interest rate swaps | $ | (255) |  |  | $ | 635 |  |  | Interest expense
Currency exchange contracts | — |  |  | (24) |  |  | Cost of goods sold and other income, net
Total before tax | (255) |  |  | 611 |  |  |
Tax impact | 63 |  |  | (150) |  |  | Provision for (benefit from) income taxes
Net of tax | $ | (192) |  |  | $ | 461 |  |  |
Pension and other postretirement benefits: |  |  |  |  |
Amortization of transition obligations | $ | 24 |  |  | $ | 23 |  |  | Other income, net
Amortization of prior service credit | (66) |  |  | (61) |  |  | Other income, net
Recognition of actuarial losses | 3,044 |  |  | 3,449 |  |  | Other income, net
Total before tax | 3,002 |  |  | 3,411 |  |  |
Tax impact | (787) |  |  | (846) |  |  | Provision for (benefit from) income taxes
Net of tax | $ | 2,215 |  |  | $ | 2,565 |  |  |
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 September 30, 2021 and 2020 were as follows:
|  | 2021 |  |  |  |  | 2020 |
(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 |
Reclassification of unrealized (gain) loss on derivatives designated and qualified as cash flow hedges | (255) |  | 63 |  | (192) |  |  |  | 611 |  | (150) |  | 461 |
Unrecognized net pension and other postretirement benefit gain (loss) | 2,598 |  | (694) |  | 1,904 |  |  |  | (4,382) |  | 1,072 |  | (3,310) |
Reclassification of net pension and other postretirement benefit loss | 3,002 |  | (787) |  | 2,215 |  |  |  | 3,411 |  | (846) |  | 2,565 |
Foreign currency translation adjustments | (16,457) |  | (19) |  | (16,476) |  |  |  | 32,106 |  | (160) |  | 31,946 |
Other comprehensive (loss) income | $ | (11,112) |  | $ | (1,437) |  | $ | (12,549) |  |  |  | $ | 33,349 |  | $ | (477) |  | $ | 32,872 |

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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=124509347&loc=d3e526-108580 + Details
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