Comprehensive Income (Loss) and Accumulated Other Comprehensive (Loss) Income

12 Months Ended

Jun. 30, 2011

Comprehensive Income (Loss) and Accumulated Other Comprehensive (Loss) Income [Abstract]

COMPREHENSIVE INCOME (LOSS) AND ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

NOTE 14 – COMPREHENSIVE INCOME (LOSS) AND ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

years ended June 30 (in thousands)	2011			2010			2009
Net income (loss)	$	232,277		$	48,202		$	(118,631	)
Unrealized gain (loss) on derivatives designated and qualified as cash flow hedges, net of income tax expense (benefit) of $0.4 million, $(0.6) million and $(1.9) million, respectively		642			(936	)		(3,006	)
Reclassification of unrealized (gain) loss on expired derivatives designated and qualified as cash flow hedges, net of income tax expense (benefit) of $0.4 million, $0.9 million and $(3.3) million, respectively		(679	)		(1,482	)		5,290
Unrecognized net pension and other postretirement benefit gains (losses), net of income tax expense (benefit) of $15.1 million, $(14.1) million and $0.6 million, respectively		28,087			(17,397	)		(14,283	)
Reclassification of net pension and other postretirement benefit losses, net of income tax benefit of $4.4 million, $0.9 million and $0.5 million, respectively		7,131			2,975			1,496
Foreign currency translation adjustments, net of income tax expense (benefit) of $75.0 million, $(41.5) million and $(73.5) million, respectively		122,358			(68,837	)		(122,044	)
Total comprehensive income (loss), net of tax		389,816			(37,475	)		(251,178	)
Comprehensive income (loss) attributable to noncontrolling interests		4,779			606			(1,046	)
Comprehensive income (loss) attributable to Kennametal Shareowners	$	385,037		$	(38,081	)	$	(250,132	)

The components of accumulated other comprehensive income (loss) consist of the following at June 30 (in thousands):

2011	Pre-tax			Tax			After-tax
Unrealized loss on derivatives designated and qualified as cash flow hedges	$	(3,227	)	$	1,331		$	(1,896	)
Unrecognized net actuarial losses		(71,262	)		23,003			(48,259	)
Unrecognized net prior service credit		2,252			(963	)		1,289
Unrecognized transition obligation		(1,203	)		(95	)		(1,298	)
Foreign currency translation adjustments		161,451			(28,758	)		132,693
Total accumulated other comprehensive income	$	88,011		$	(5,482	)	$	82,529

2010	Pre-tax			Tax			After-tax
Unrealized loss on derivatives designated and qualified as cash flow hedges	$	(2,998	)	$	1,139		$	(1,859	)
Unrecognized net actuarial losses		(122,442	)		38,629			(83,813	)
Unrecognized net prior service credit		2,534			(962	)		1,572
Unrecognized transition obligation		(1,120	)		(127	)		(1,247	)
Foreign currency translation adjustments		19,913			(7,347	)		12,566
Total accumulated other comprehensive loss	$	(104,113	)	$	31,332		$	(72,781	)