XML 43 R33.htm IDEA: XBRL DOCUMENT v3.8.0.1
Accumulated Other Comprehensive Loss (Tables)
3 Months Ended
Sep. 30, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Components of, and changes in accumulated other comprehensive loss
The components of, and changes in, AOCL were as follows, net of tax, for the three months ended September 30, 2017 (in thousands):
Attributable to Kennametal:
Postretirement benefit plans
Currency translation adjustment
Derivatives
Total
Balance, June 30, 2017
$
(189,038
)
$
(126,606
)
$
(8,048
)
$
(323,692
)
Other comprehensive income before reclassifications
(1,965
)
19,584

(619
)
17,000

Amounts reclassified from AOCL
1,779


396

2,175

Net current period other comprehensive
  income
(186
)
19,584

(223
)
19,175

AOCL, September 30, 2017
$
(189,224
)
$
(107,022
)
$
(8,271
)
$
(304,517
)
 
 
 
 
 
Attributable to noncontrolling interests:
 
 
 
 
Balance, June 30, 2017
$

$
(2,164
)
$

$
(2,164
)
Other comprehensive income before
  reclassifications

284


284

Net current period other comprehensive
  income

284


284

AOCL, September 30, 2017
$

$
(1,880
)
$

$
(1,880
)


The components of, and changes in, AOCL were as follows, net of tax, for the three months ended September 30, 2016 (in thousands):
Attributable to Kennametal:
Postretirement benefit plans
Currency translation adjustment
Derivatives
Total
Balance, June 30, 2016
$
(212,163
)
$
(131,212
)
$
(9,134
)
$
(352,509
)
Other comprehensive income before reclassifications
630

749

(126
)
1,253

Amounts reclassified from AOCL
1,834


387

2,221

Net current period other comprehensive
  income
2,464

749

261

3,474

AOCL, September 30, 2016
$
(209,699
)
$
(130,463
)
$
(8,873
)
$
(349,035
)
 
 
 
 
 
Attributable to noncontrolling interests:
 
 
 
 
Balance, June 30, 2016
$

$
(3,446
)
$

$
(3,446
)
Other comprehensive income before
  reclassifications

415


415

Net current period other comprehensive
  income

415


415

AOCL, September 30, 2016
$

$
(3,031
)
$

$
(3,031
)

Reclassification out of Accumulated Other Comprehensive Loss
Reclassifications out of AOCL for the three months ended September 30, 2017 and 2016 consisted of the following (in thousands):
 
Three Months Ended September 30,
 
 
Details about AOCL components
2017
 
2016
 
Affected line item in the Income Statement
Gains and losses on cash flow hedges:
 
 
 
 
 
Forward starting interest rate swaps
$
566

 
$
545

 
Interest expense
Currency exchange contracts
(170
)
 
(158
)
 
Other expense, net
Total before tax
396

 
387

 
 
Tax impact

 

 
Provision for income taxes
Net of tax
$
396

 
$
387

 
 
 
 
 
 
 
 
Postretirement benefit plans:
 
 
 
 
 
Amortization of transition obligations
$
23

 
$
23

 
See note 9 for further details
Amortization of prior service credit
167

 
(119
)
 
See note 9 for further details
Recognition of actuarial losses
1,780

 
2,201

 
See note 9 for further details
Total before tax
1,970

 
2,105

 
 
Tax impact
(191
)
 
(271
)
 
Provision for income taxes
Net of tax
$
1,779

 
$
1,834

 
 
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 income for the three months ended September 30, 2017 and 2016:
 
 
2017
 
 
 
 
2016
 
(in thousands)
Pre-tax
Tax impact
Net of tax
 
 
Pre-tax
Tax impact
Net of tax
Unrealized loss on derivatives designated and qualified as cash flow hedges
$
(619
)
$

$
(619
)
 
 
$
(126
)
$

$
(126
)
Reclassification of unrealized loss on expired derivatives designated and qualified as cash flow hedges
396


396

 
 
387


387

Unrecognized net pension and other postretirement benefit (loss) gain
(2,600
)
635

(1,965
)
 
 
716

(86
)
630

Reclassification of net pension and other postretirement benefit loss
1,970

(191
)
1,779

 
 
2,105

(271
)
1,834

Foreign currency translation adjustments
20,445

(577
)
19,868

 
 
1,164


1,164

Other comprehensive income
$
19,592

$
(133
)
$
19,459

 
 
$
4,246

$
(357
)
$
3,889