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Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended
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Sep. 30, 2022
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, 2022:
(in thousands) | Pension and other postretirement benefits | Currency translation adjustment | Derivatives | Total
Attributable to Kennametal: |  |  |  |
Balance, June 30, 2022 | $ | (208,406) |  | $ | (210,048) |  | $ | 4,503 |  | $ | (413,951) |
Other comprehensive income (loss) before reclassifications | 3,324 |  | (51,184) |  | — |  | (47,860) |
Amounts reclassified from AOCL | 806 |  | — |  | (192) |  | 614 |
Net other comprehensive income (loss) | 4,130 |  | (51,184) |  | (192) |  | (47,246) |
AOCL, September 30, 2022 | $ | (204,276) |  | $ | (261,232) |  | $ | 4,311 |  | $ | (461,197) |
Attributable to noncontrolling interests: |  |  |  |
Balance, June 30, 2022 | $ | — |  | $ | (7,547) |  | $ | — |  | $ | (7,547) |
Other comprehensive loss before reclassifications | — |  | (1,765) |  | — |  | (1,765) |
Net other comprehensive loss | — |  | (1,765) |  | — |  | (1,765) |
AOCL, September 30, 2022 | $ | — |  | $ | (9,312) |  | $ | — |  | $ | (9,312) |
The components of, and changes in, 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) |
Reclassification out of Accumulated Other Comprehensive Loss | Reclassifications out of AOCL for the three months ended September 30, 2022 and 2021 consisted of the following:
| Three Months Ended September 30, |  |  |
(in thousands) | 2022 |  | 2021 |  |  |  |  | Affected line item in the Income Statement
Gains on cash flow hedges: |  |  |  |  |  |  |  |
Forward starting interest rate swaps | $ | (255) |  |  | $ | (255) |  |  |  |  |  | Interest expense
Total before tax | (255) |  |  | (255) |  |  |  |  |  |
Tax impact | 63 |  |  | 63 |  |  |  |  |  | Provision for income taxes
Net of tax | $ | (192) |  |  | $ | (192) |  |  |  |  |  |
Pension and other postretirement benefits: |  |  |  |  |  |  |  |
Amortization of transition obligations | $ | 21 |  |  | $ | 24 |  |  |  |  |  | Other income, net
Amortization of prior service credit | (66) |  |  | (66) |  |  |  |  |  | Other income, net
Recognition of actuarial losses | 1,153 |  |  | 3,044 |  |  |  |  |  | Other income, net
Total before tax | 1,108 |  |  | 3,002 |  |  |  |  |  |
Tax impact | (302) |  |  | (787) |  |  |  |  |  | Provision for income taxes
Net of tax | $ | 806 |  |  | $ | 2,215 |  |  |  |  |  |
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 for the three months ended September 30, 2022 and 2021 were as follows:
|  | 2022 |  |  |  |  | 2021 |
(in thousands) | Pre-tax | Tax impact | Net of tax |  |  | Pre-tax | Tax impact | Net of tax
Reclassification of unrealized gain on derivatives designated and qualified as cash flow hedges | $ | (255) |  | $ | 63 |  | $ | (192) |  |  |  | $ | (255) |  | $ | 63 |  | $ | (192) |
Unrecognized net pension and other postretirement benefit plans gain | 4,479 |  | (1,155) |  | 3,324 |  |  |  | 2,598 |  | (694) |  | 1,904 |
Reclassification of net pension and other postretirement benefit plans loss | 1,108 |  | (302) |  | 806 |  |  |  | 3,002 |  | (787) |  | 2,215 |
Foreign currency translation adjustments | (52,799) |  | (150) |  | (52,949) |  |  |  | (16,457) |  | (19) |  | (16,476) |
Other comprehensive loss | $ | (47,467) |  | $ | (1,544) |  | $ | (49,011) |  |  |  | $ | (11,112) |  | $ | (1,437) |  | $ | (12,549) |

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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 https://asc.fasb.org/extlink&oid=126968391&loc=d3e526-108580 + Details
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