| 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 nine months ended March 31, 2020: | | | | | | | | | | | | | | (in thousands) | Pension and other postretirement benefits | Currency translation adjustment | Derivatives | Total | Attributable to Kennametal: | | | | | Balance, June 30, 2019 | $ | (222,270 | ) | $ | (147,595 | ) | $ | (3,678 | ) | $ | (373,543 | ) | Other comprehensive income (loss) before reclassifications | 2,123 |
| (44,855 | ) | (144 | ) | (42,876 | ) | Amounts reclassified from AOCL | 5,916 |
| — |
| 306 |
| 6,222 |
| Net current period other comprehensive income (loss) | 8,039 |
| (44,855 | ) | 162 |
| (36,654 | ) | AOCL, March 31, 2020 | $ | (214,231 | ) | $ | (192,450 | ) | $ | (3,516 | ) | $ | (410,197 | ) | | | | | | Attributable to noncontrolling interests: | | | | | Balance, June 30, 2019 | $ | — |
| $ | (3,450 | ) | $ | — |
| $ | (3,450 | ) | Other comprehensive loss before reclassifications | — |
| (2,836 | ) | — |
| (2,836 | ) | Net current period other comprehensive loss | — |
| (2,836 | ) | — |
| (2,836 | ) | AOCL, March 31, 2020 | $ | — |
| $ | (6,286 | ) | $ | — |
| $ | (6,286 | ) |
The components of, and changes in, AOCL were as follows, net of tax, for the nine months ended March 31, 2019: | | | | | | | | | | | | | | (in thousands) | Pension and other postretirement benefits | Currency translation adjustment | Derivatives | Total | Attributable to Kennametal: | | | | | Balance, June 30, 2018 | $ | (187,755 | ) | $ | (127,347 | ) | $ | (5,223 | ) | $ | (320,325 | ) | Other comprehensive income (loss) before reclassifications | 1,246 |
| (20,147 | ) | 141 |
| (18,760 | ) | Amounts reclassified from AOCL | 3,893 |
| — |
| 1,552 |
| 5,445 |
| Net current period other comprehensive income (loss) | 5,139 |
| (20,147 | ) | 1,693 |
| (13,315 | ) | AOCL, March 31, 2019 | $ | (182,616 | ) | $ | (147,494 | ) | $ | (3,530 | ) | $ | (333,640 | ) | | | | | | Attributable to noncontrolling interests: | | | | | Balance, June 30, 2018 | $ | — |
| $ | (2,913 | ) | $ | — |
| $ | (2,913 | ) | Other comprehensive loss before reclassifications | — |
| (698 | ) | — |
| (698 | ) | Net current period other comprehensive loss | — |
| (698 | ) | — |
| (698 | ) | AOCL, March 31, 2019 | $ | — |
| $ | (3,611 | ) | $ | — |
| $ | (3,611 | ) |
|
| Reclassification out of Accumulated Other Comprehensive Loss |
Reclassifications out of AOCL for the three and nine months ended March 31, 2020 and 2019 consisted of the following: | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | Nine Months Ended March 31, | | | (in thousands) | 2020 | | 2019 | 2020 | | 2019 | | Affected line item in the Income Statement | Gains and losses on cash flow hedges: | | | | | | | | | Forward starting interest rate swaps | $ | 611 |
| | $ | 588 |
| $ | 1,833 |
| | $ | 1,764 |
| | Interest expense | Currency exchange contracts | 75 |
| | 333 |
| (1,428 | ) | | 292 |
| | Cost of goods sold and other income, net | Total before tax | 686 |
| | 921 |
| 405 |
| | 2,056 |
| | | Tax impact | (168 | ) | | (226 | ) | (99 | ) | | (504 | ) | | Provision (benefit) for income taxes | Net of tax | $ | 518 |
| | $ | 695 |
| $ | 306 |
| | $ | 1,552 |
| | | | | | | | | | | | Pension and other postretirement benefits: | | | | | | | | | Amortization of transition obligations | $ | 23 |
| | $ | 23 |
| $ | 67 |
| | $ | 68 |
| | Other income, net | Amortization of prior service credit | (56 | ) | | (27 | ) | (169 | ) | | (83 | ) | | Other income, net | Recognition of actuarial losses | 2,661 |
| | 1,744 |
| 7,970 |
| | 5,242 |
| | Other income, net | Total before tax | 2,628 |
| | 1,740 |
| 7,868 |
| | 5,227 |
| | | Tax impact | (662 | ) | | (453 | ) | (1,952 | ) | | (1,334 | ) | | Provision (benefit) for income taxes | Net of tax | $ | 1,966 |
| | $ | 1,287 |
| $ | 5,916 |
| | $ | 3,893 |
| | |
|
| 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) income for the three months ended March 31, 2020 and 2019 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | 2020 | | | | | 2019 | | (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 | $ | (1,325 | ) | $ | 325 |
| $ | (1,000 | ) | | | $ | 307 |
| $ | (75 | ) | $ | 232 |
| Reclassification of unrealized loss on derivatives designated and qualified as cash flow hedges | 686 |
| (168 | ) | 518 |
| | | 921 |
| (226 | ) | 695 |
| Unrecognized net pension and other postretirement benefit gain | 3,295 |
| (722 | ) | 2,573 |
| | | 172 |
| (121 | ) | 51 |
| Reclassification of net pension and other postretirement benefit loss | 2,628 |
| (662 | ) | 1,966 |
| | | 1,740 |
| (453 | ) | 1,287 |
| Foreign currency translation adjustments | (38,103 | ) | 85 |
| (38,018 | ) | | | (1,327 | ) | 88 |
| (1,239 | ) | Other comprehensive (loss) income | $ | (32,819 | ) | $ | (1,142 | ) | $ | (33,961 | ) | | | $ | 1,813 |
| $ | (787 | ) | $ | 1,026 |
|
The amount of income tax allocated to each component of other comprehensive loss for the nine months ended March 31, 2020 and 2019 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | 2020 | | | | | 2019 | | (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 | $ | (191 | ) | $ | 47 |
| $ | (144 | ) | | | $ | 187 |
| $ | (46 | ) | $ | 141 |
| Reclassification of unrealized loss on derivatives designated and qualified as cash flow hedges | 405 |
| (99 | ) | 306 |
| | | 2,056 |
| (504 | ) | 1,552 |
| Unrecognized net pension and other postretirement benefit gain | 2,876 |
| (753 | ) | 2,123 |
| | | 1,723 |
| (477 | ) | 1,246 |
| Reclassification of net pension and other postretirement benefit loss | 7,868 |
| (1,952 | ) | 5,916 |
| | | 5,227 |
| (1,334 | ) | 3,893 |
| Foreign currency translation adjustments | (47,809 | ) | 118 |
| (47,691 | ) | | | (21,007 | ) | 162 |
| (20,845 | ) | Other comprehensive loss | $ | (36,851 | ) | $ | (2,639 | ) | $ | (39,490 | ) | | | $ | (11,814 | ) | $ | (2,199 | ) | $ | (14,013 | ) |
|