Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

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