Accumulated Other Comprehensive Loss

9 Months Ended

Mar. 31, 2025

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

The components of, and changes in, accumulated other comprehensive loss (AOCL) were as follows, net of tax, for the nine months ended March 31, 2025:


(in thousands)	Pension and other postretirement benefits		Currency translation adjustment		Derivatives		Total
Attributable to Kennametal:
Balance, June 30, 2024	$	(221,308)	$	(216,263)	$	2,983	$	(434,588)
Other comprehensive (loss) income before reclassifications	(887)		1,329		827		1,269
Amounts reclassified from AOCL	5,277		—		(1,160)		4,117
Net other comprehensive income (loss)	4,390		1,329		(333)		5,386
AOCL, March 31, 2025	$	(216,918)	$	(214,934)	$	2,650	$	(429,202)

Attributable to noncontrolling interests:
Balance, June 30, 2024	$	—	$	(8,680)	$	—	$	(8,680)
Other comprehensive loss before reclassifications	—		(409)		—		(409)
Net other comprehensive loss	—		(409)		—		(409)
AOCL, March 31, 2025	$	—	$	(9,089)	$	—	$	(9,089)

The components of, and changes in, AOCL were as follows, net of tax, for the nine months ended March 31, 2024:


(in thousands)	Pension and other postretirement benefits		Currency translation adjustment		Derivatives		Total
Attributable to Kennametal:
Balance, June 30, 2023	$	(215,435)	$	(202,641)	$	3,733	$	(414,343)
Other comprehensive income (loss) before reclassifications	239		(7,091)		(43)		(6,895)
Amounts reclassified from AOCL	3,191		—		(544)		2,647
Net other comprehensive income (loss)	3,430		(7,091)		(587)		(4,248)
AOCL, March 31, 2024	$	(212,005)	$	(209,732)	$	3,146	$	(418,591)

Attributable to noncontrolling interests:
Balance, June 30, 2023	$	—	$	(8,139)	$	—	$	(8,139)
Other comprehensive loss before reclassifications	—		(450)		—		(450)
Net other comprehensive loss	—		(450)		—		(450)
AOCL, March 31, 2024	$	—	$	(8,589)	$	—	$	(8,589)

Reclassifications out of AOCL for the three and nine months ended March 31, 2025 and 2024 consisted of the following:


	Three Months Ended March 31,				Nine Months Ended March 31,
(in thousands)	2025		2024		2025		2024		Affected line item in the Income Statement
Gains on cash flow hedges:
Forward starting interest rate swaps	$	(255)	$	(255)	$	(766)	$	(766)	Interest expense
Currency exchange contracts	(762)		36		(770)		17		Cost of goods sold
Total before tax	(1,017)		(219)		(1,536)		(749)
Tax impact	249		60		376		205		Provision for income taxes
Net of tax	$	(768)	$	(159)	$	(1,160)	$	(544)

Pension and other postretirement benefits:
Amortization of transition obligations	$	—	$	19	$	—	$	57	Other income, net
Amortization of prior service credit	(65)		(64)		(196)		(194)		Other income, net
Recognition of actuarial losses	2,117		1,477		6,396		4,421		Other income, net
Settlement	—		—		836		—		Other income, net
Total before tax	2,052		1,432		7,036		4,284
Tax impact	(500)		(366)		(1,759)		(1,093)		Provision for income taxes
Net of tax	$	1,552	$	1,066	$	5,277	$	3,191

The amount of income tax allocated to each component of other comprehensive income (loss) for the three months ended March 31, 2025 and 2024 were as follows:


			2025						2024
(in thousands)	Pre-tax		Tax impact		Net of tax		Pre-tax		Tax impact		Net of tax
Unrealized (loss) gain on derivatives designated and qualified as cash flow hedges	$	(342)	$	84	$	(258)	$	22	$	(6)	$	16
Reclassification of unrealized gain on derivatives designated and qualified as cash flow hedges	(1,017)		249		(768)		(219)		60		(159)
Unrecognized net pension and other postretirement benefit plans (loss) gain	(2,033)		531		(1,502)		655		(181)		474
Reclassification of net pension and other postretirement benefit plans loss	2,052		(500)		1,552		1,432		(366)		1,066
Foreign currency translation adjustments	22,880		—		22,880		(19,229)		86		(19,143)

Other comprehensive income (loss)	$	21,540	$	364	$	21,904	$	(17,339)	$	(407)	$	(17,746)