XML 58 R43.htm IDEA: XBRL DOCUMENT
v3.22.2

Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2022
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, 2022 (in thousands):
Attributable to Kennametal: | Pension and other postretirement benefits | Currency translation adjustment | Derivatives | Total
Balance, June 30, 2021 | $ | (213,172) |  | $ | (122,428) |  | $ | 5,273 |  | $ | (330,327) |
Other comprehensive loss before reclassifications | (4,163) |  | (87,620) |  | — |  | (91,783) |
Amounts reclassified from AOCL | 8,929 |  | — |  | (770) |  | 8,159 |
Net other comprehensive income (loss) | 4,766 |  | (87,620) |  | (770) |  | (83,624) |
AOCL, June 30, 2022 | $ | (208,406) |  | $ | (210,048) |  | $ | 4,503 |  | $ | (413,951) |
Attributable to noncontrolling interests: |  |  |  |
Balance, June 30, 2021 | $ | — |  | $ | (3,982) |  | $ | — |  | $ | (3,982) |
Other comprehensive income before reclassifications | — |  | (3,565) |  | — |  | (3,565) |
Net other comprehensive loss | — |  | (3,565) |  | — |  | (3,565) |
AOCL, June 30, 2022 | $ | — |  | $ | (7,547) |  | $ | — |  | $ | (7,547) |
The components of and changes in 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) income | (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) |
Reclassification out of Accumulated Other Comprehensive Loss | Reclassifications out of AOCL for the years ended June 30, 2022, 2021 and 2020 consisted of the following:
| Year Ended June 30, |
Details about AOCL components (in thousands) | 2022 | 2021 | 2020 | Affected line item in the Income Statement
(Gains) and losses on cash flow hedges: |  |  |  |
Forward starting interest rate swaps | $ | (1,020) |  | $ | 4,082 |  | $ | 2,444 |  | Interest expense
Currency exchange contracts | — |  | (24) |  | (1,545) |  | Other income, net
Total before tax | (1,020) |  | 4,058 |  | 899 |  |
Tax impact | 250 |  | (4,459) |  | (220) |  | Provision for income taxes
Net of tax | $ | (770) |  | $ | (401) |  | $ | 679 |  |
Pension and other postretirement benefits: |  |  |  |
Amortization of transition obligations | $ | 94 |  | $ | 94 |  | $ | 88 |  | Other income, net
Amortization of prior service credit | (263) |  | (242) |  | (226) |  | Other income, net
Recognition of actuarial losses | 11,999 |  | 13,913 |  | 10,616 |  | Other income, net
Total before tax | 11,830 |  | 13,765 |  | 10,478 |  |
Tax impact | (2,901) |  | (3,410) |  | (2,543) |  | Provision for income taxes
Net of tax | $ | 8,929 |  | $ | 10,355 |  | $ | 7,935 |  |
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, 2022:
(in thousands) | Pre-tax | Tax impact | Net of tax
Reclassification of unrealized gain on expired derivatives designated and qualified as cash flow hedges | $ | (1,020) |  | $ | 250 |  | $ | (770) |
Unrecognized net pension and other postretirement benefit plans loss | (3,894) |  | (269) |  | (4,163) |
Reclassification of net pension and other postretirement benefit plans loss | 11,830 |  | (2,901) |  | 8,929 |
Foreign currency translation adjustments | (91,012) |  | (173) |  | (91,185) |
Other comprehensive loss | $ | (84,096) |  | $ | (3,093) |  | $ | (87,189) |
The amount of income tax allocated to each component of other comprehensive loss 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 plans gain | 11,901 |  | (2,794) |  | 9,107 |
Reclassification of net pension and other postretirement benefit plans 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 plans loss | (23,999) |  | 5,700 |  | (18,299) |
Reclassification of net pension and other postretirement benefit plans 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) |

X
- Definition Income Tax Allocated to Each Component of Other Comprehensive Income [Table Text Block] + References No definition available. + Details
Name: | kmt_IncomeTaxAllocatedtoEachComponentofOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | kmt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669686-108580 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration