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Equity (Tables)

9 Months Ended

Mar. 31, 2024

Equity [Abstract]

Summary of the changes in the carrying amounts of total equity, Kennametal shareholders' equity and equity attributable to noncontrolling interests

EQUITY

A summary of the changes in the carrying amounts of total equity, Kennametal Shareholders’ equity and equity attributable to noncontrolling interests for the three months ended March 31, 2024 and 2023 is as follows:

			Kennametal Shareholders’ Equity
(in thousands, except per share amounts)			Capital stock						Additional paid-in capital						Retained earnings						Accumulated other comprehensive loss						Non-controlling interests						Total equity
Balance as of December 31, 2023			$	99,071					$	444,162					$	1,145,911					$	(401,321)					$	40,281					$	1,328,104
Net income			—						—						18,976												1,734						20,710
Other comprehensive loss			—						—						—						(17,270)						(476)						(17,746)
Dividend reinvestment			2						42						—																		44
Capital stock issued under employee benefit and stock plans(3)			18						5,851						—																		5,869
Purchase of capital stock			(762)						(14,268)						—																		(15,030)
Cash dividends ($0.20 per share)			—						—						(15,853)						—						—						(15,853)
Cash dividends to non-controlling interests			—						—						—						—						(204)						(204)
Total equity, March 31, 2024			$	98,329					$	435,787					$	1,149,034					$	(418,591)					$	41,335					$	1,305,894

			Kennametal Shareholders’ Equity
(in thousands, except per share amounts)			Capital stock						Additional paid-in capital						Retained earnings						Accumulated other comprehensive loss						Non-controlling interests						Total equity
Balance as of December 31, 2022			$	100,641					$	473,323					$	1,088,379					$	(412,176)					$	39,034					$	1,289,201
Net income			—						—						31,937						—						1,129						33,066
Other comprehensive income			—						—						—						12,925						355						13,280
Dividend reinvestment			2						45						—						—						—						47
Capital stock issued under employee benefit and stock plans(3)			29						4,499						—						—						—						4,528
Purchase of capital stock			(330)						(7,158)						—						—						—						(7,488)
Cash dividends ($0.20 per share)			—						—						(16,097)						—						—						(16,097)
Cash dividends to non-controlling interests			—						—						—						—						(221)						(221)
Total equity, March 31, 2023			$	100,342					$	470,709					$	1,104,219					$	(399,251)					$	40,297					$	1,316,316

(3) Net of restricted stock units delivered upon vesting to satisfy tax withholding requirements.

A summary of the changes in the carrying amounts of total equity, Kennametal Shareholders’ equity and equity attributable to noncontrolling interests for the nine months ended March 31, 2024 and 2023 is as follows:

			Kennametal Shareholders’ Equity
(in thousands, except per share amounts)			Capital stock						Additional paid-in capital						Retained earnings						Accumulated other comprehensive loss						Non-controlling interests						Total equity
Balance as of June 30, 2023			$	99,794					$	465,406					$	1,124,590					$	(414,343)					$	38,721					$	1,314,168
Net income			—						—						$	72,141					—						3,266						75,407
Other comprehensive loss			—						—						—						(4,248)						(450)						(4,698)
Dividend reinvestment			7						128						—						—						—						135
Capital stock issued under employee benefit and stock plans(3)			708						11,859						—						—						—						12,567
Purchase of capital stock			(2,180)						(41,606)						—						—						—						(43,786)
Cash dividends ($0.60 per share)			—						—						(47,697)						—												(47,697)
Cash dividends to non-controlling interests			—												—						—						(202)						(202)
Total equity, March 31, 2024			$	98,329					$	435,787					$	1,149,034					$	(418,591)					$	41,335					$	1,305,894

			Kennametal Shareholders’ Equity
(in thousands, except per share amounts)			Capital stock						Additional paid-in capital						Retained earnings						Accumulated other comprehensive loss						Non-controlling interests						Total equity
Balance as of June 30, 2022			$	101,671					$	494,202					$	1,070,655					$	(413,951)					$	38,670					$	1,291,247
Net income			—						—						$	82,032					—						3,594						85,626
Other comprehensive income (loss)			—						—						—						14,700						(344)						14,356
Dividend reinvestment			6			—			134						—						—						—						140
Capital stock issued under employee benefit and stock plans(3)			614						11,980						—						—						—						12,594
Purchase of capital stock			(1,949)						(35,607)						—						—						—						(37,556)
Cash dividends ($0.60 per share)			—						—						(48,468)						—						—						(48,468)
Cash dividends to non-controlling interests			—						—						—						—						(1,623)						(1,623)
Total equity, March 31, 2023			$	100,342					$	470,709					$	1,104,219					$	(399,251)					$	40,297					$	1,316,316

(3) Net of restricted stock units delivered upon vesting to satisfy tax withholding requirements.

The amounts of comprehensive income attributable to Kennametal Shareholders and noncontrolling interests are disclosed in the condensed consolidated statements of comprehensive income.

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- References

No definition available.

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- Definition

Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 10
-Topic 505
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-2

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