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Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended
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Jun. 30, 2024
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, 2024 (in thousands):
Attributable to Kennametal: | Pension and other postretirement benefits | Currency translation adjustment | Derivatives | Total
Balance, June 30, 2023 | $ | (215,435) |  | $ | (202,641) |  | $ | 3,733 |  | $ | (414,343) |
Other comprehensive loss before reclassifications | (10,100) |  | (13,623) |  | (26) |  | (23,749) |
Amounts reclassified from AOCL | 4,227 |  | — |  | (725) |  | 3,502 |
Net other comprehensive loss | (5,873) |  | (13,623) |  | (750) |  | (20,247) |
AOCL, June 30, 2024 | $ | (221,308) |  | $ | (216,264) |  | $ | 2,983 |  | $ | (434,589) |
Attributable to noncontrolling interests: |  |  |  |
Balance, June 30, 2023 | $ | — |  | $ | (8,139) |  | $ | — |  | $ | (8,139) |
Other comprehensive loss before reclassifications | — |  | (541) |  | — |  | (541) |
Net other comprehensive loss | — |  | (541) |  | — |  | (541) |
AOCL, June 30, 2024 | $ | — |  | $ | (8,680) |  | $ | — |  | $ | (8,680) |
The components of and changes in AOCL were as follows, net of tax, for the year ended June 30, 2023 (in thousands):
Attributable to Kennametal: | Pension and other postretirement benefits | Currency translation adjustment | Derivatives | Total
Balance, June 30, 2022 | $ | (208,406) |  | $ | (210,048) |  | $ | 4,503 |  | $ | (413,951) |
Other comprehensive (loss) income before reclassifications | (10,402) |  | 7,407 |  | — |  | (2,995) |
Amounts reclassified from AOCL | 3,373 |  | — |  | (770) |  | 2,603 |
Net other comprehensive (loss) income | (7,029) |  | 7,407 |  | (770) |  | (392) |
AOCL, June 30, 2023 | $ | (215,435) |  | $ | (202,641) |  | $ | 3,733 |  | $ | (414,343) |
Attributable to noncontrolling interests: |  |  |  |
Balance, June 30, 2022 | $ | — |  | $ | (7,547) |  | $ | — |  | $ | (7,547) |
Other comprehensive loss before reclassifications | — |  | (592) |  | — |  | (592) |
Net other comprehensive loss | — |  | (592) |  | — |  | (592) |
AOCL, June 30, 2023 | $ | — |  | $ | (8,139) |  | $ | — |  | $ | (8,139) |
The components of and changes in 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 loss before reclassifications | — |  | (3,565) |  | — |  | (3,565) |
Net other comprehensive loss | — |  | (3,565) |  | — |  | (3,565) |
AOCL, June 30, 2022 | $ | — |  | $ | (7,547) |  | $ | — |  | $ | (7,547) |
Reclassification out of Accumulated Other Comprehensive Loss | Reclassifications out of AOCL for the years ended June 30, 2024, 2023 and 2022 consisted of the following:
| Year Ended June 30, |
Details about AOCL components (in thousands) | 2024 | 2023 | 2022 | Affected line item in the Income Statement
(Gains) and losses on cash flow hedges: |  |  |  |
Forward starting interest rate swaps | $ | (1,020) |  | $ | (1,020) |  | $ | (1,020) |  | Interest expense
Currency exchange contracts | 60 |  | — |  | — |  | Cost of goods sold
Total before tax | (960) |  | (1,020) |  | (1,020) |  |
Tax impact | 235 |  | 250 |  | 250 |  | Provision for income taxes
Net of tax | $ | (725) |  | $ | (770) |  | $ | (770) |  |
Pension and other postretirement benefits: |  |  |  |
Amortization of transition obligations | $ | 76 |  | $ | 84 |  | $ | 94 |  | Other expense (income), net
Amortization of prior service credit | (258) |  | (266) |  | (263) |  | Other expense (income), net
Recognition of actuarial losses | 5,895 |  | 4,632 |  | 11,999 |  | Other expense (income), net
Total before tax | 5,713 |  | 4,450 |  | 11,830 |  |
Tax impact | (1,486) |  | (1,077) |  | (2,901) |  | Provision for income taxes
Net of tax | $ | 4,227 |  | $ | 3,373 |  | $ | 8,929 |  |
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 loss for the year ended June 30, 2024:
(in thousands) | Pre-tax | Tax impact | Net of tax
Unrealized loss on derivatives designated and qualified as cash flow hedges | $ | (34) |  | $ | 8 |  | $ | (26) |
Reclassification of unrealized gain on expired derivatives designated and qualified as cash flow hedges | (960) |  | 235 |  | (725) |
Unrecognized net pension and other postretirement benefit plans loss | (13,328) |  | 3,228 |  | (10,100) |
Reclassification of net pension and other postretirement benefit plans loss | 5,713 |  | (1,486) |  | 4,227 |
Foreign currency translation adjustments | (14,215) |  | 51 |  | (14,164) |
Other comprehensive loss | $ | (22,824) |  | $ | 2,036 |  | $ | (20,788) |
The amount of income tax allocated to each component of other comprehensive loss for the year ended June 30, 2023:
(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 | (13,972) |  | 3,570 |  | (10,402) |
Reclassification of net pension and other postretirement benefit plans loss | 4,450 |  | (1,077) |  | 3,373 |
Foreign currency translation adjustments | 6,959 |  | (144) |  | 6,815 |
Other comprehensive loss | $ | (3,583) |  | $ | 2,599 |  | $ | (984) |
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) |

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