0000055242-24-000026 | 10-Q | XBRL Viewer

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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Sales	$ 515,794	$ 536,036	$ 1,503,591	$ 1,527,949
Cost of goods sold	362,532	368,122	1,047,834	1,057,177
Gross profit	153,262	167,914	455,757	470,772
Operating expense	108,684	113,273	327,674	327,308
Restructuring and other charges, net (Note 6)	(6,465)	(994)	(10,585)	(2,499)
Amortization of intangibles	2,886	3,164	8,674	9,476
Operating income	35,227	52,471	108,824	136,487
Interest expense	6,777	7,747	20,225	21,399
Other expense, net	(76)	986	(674)	2,584
Income before income taxes	28,526	43,738	89,273	112,504
Provision for income taxes	7,816	10,672	13,866	26,878
Net income	20,710	33,066	75,407	85,626
Less: Net income attributable to noncontrolling interests	1,734	1,129	3,266	3,594
Net income attributable to Kennametal	$ 18,976	$ 31,937	$ 72,141	$ 82,032
PER SHARE DATA ATTRIBUTABLE TO KENNAMETAL SHAREHOLDERS
Basic earnings per share	$ 0.24	$ 0.40	$ 0.91	$ 1.01
Diluted earnings per share	0.24	0.39	0.90	1.01
Dividends per share	$ 0.20	$ 0.20	$ 0.6	$ 0.6
Basic weighted average shares outstanding	79,229	80,611	79,655	80,967
Diluted weighted average shares outstanding	79,849	81,281	80,197	81,525
Noncontrolling Interest [Member]
Net income	$ 1,734	$ 1,129	$ 3,266	$ 3,594

Restructuring and Related Charges

9 Months Ended

Mar. 31, 2024

Restructuring Charges [Abstract]

RESTRUCTURING AND RELATED CHARGES

RESTRUCTURING AND OTHER CHARGES, NET

In the June quarter of fiscal 2023, we announced an initiative to streamline our cost structure while continuing to invest in our high-return commercial and operational excellence initiatives. Total restructuring and related charges for this program of $18.6 million, compared to a target of approximately $25 million, were recorded through March 31, 2024, consisting of $13.7 million in Metal Cutting and $4.9 million in Infrastructure. The majority of the remaining charges are expected to be recognized in fiscal 2024.

We recorded restructuring and related charges of $6.5 million for the three months ended March 31, 2024, which consisted of $4.5 million in Metal Cutting and $2.0 million in Infrastructure.

We recorded restructuring and related charges of $11.2 million for the nine months ended March 31, 2024, which consisted of $7.7 million in Metal Cutting and $3.5 million in Infrastructure. Included in other charges, net during the nine months ended March 31, 2024 is a net benefit of $0.6 million, primarily due to the sale of property.

We recorded no restructuring and related charges for the three and nine months ended March 31, 2023. Included in other charges, net for the three and nine months ended March 31, 2023 is a net benefit of $1.0 million and $2.5 million, respectively, consisting primarily of gains on the sale of properties.

As of March 31, 2024, $10.7 million and $1.6 million of the restructuring accrual was recorded in other current liabilities and other liabilities, respectively, in our condensed consolidated balance sheet. As of June 30, 2023, $9.4 million and $0.5 million of the restructuring accrual was recorded in other current liabilities and other liabilities, respectively. The amounts are as follows:


(in thousands)	June 30, 2023		Expense		Translation		Cash Expenditures		March 31, 2024
Severance	$	9,885	$	11,192	$	(60)	$	(8,758)	$	12,259


Total	$	9,885	$	11,192	$	(60)	$	(8,758)	$	12,259

Equity details textual (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Equity [Abstract]
Dividends per share	$ 0.20	$ 0.20	$ 0.6	$ 0.6
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,305,894	$ 1,316,316	$ 1,305,894	$ 1,316,316	$ 1,328,104	$ 1,314,168	$ 1,289,201	$ 1,291,247
Net income	20,710	33,066	75,407	85,626
Other comprehensive income (loss), net of tax	(17,746)	13,280	(4,698)	14,356
Stock Issued During Period, Value, Dividend Reinvestment Plan	44	47	135	140
Stock Issued During Period, Value, Employee Benefit Plan	5,869	4,528	12,567	12,594
Stock Repurchased During Period, Value	(15,030)	(7,488)	(43,786)	(37,556)
Dividends, Common Stock, Cash	(15,853)	(16,097)	(47,697)	(48,468)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,305,894	1,316,316	1,305,894	1,316,316	1,328,104	1,314,168	1,289,201	1,291,247
Net income	20,710	33,066	75,407	85,626
Other comprehensive income (loss), net of tax	(17,746)	13,280	(4,698)	14,356
Stock Issued During Period, Value, Dividend Reinvestment Plan	44	47	135	140
Stock Issued During Period, Value, Employee Benefit Plan	5,869	4,528	12,567	12,594
Stock Repurchased During Period, Value	15,030	7,488	43,786	37,556
Dividends, Common Stock, Cash	$ 15,853	$ 16,097	$ 47,697	$ 48,468
Dividends per share	$ 0.20	$ 0.20	$ 0.6	$ 0.6
Common Stock [Member]
Equity [Abstract]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 98,329	$ 100,342	$ 98,329	$ 100,342	99,071	99,794	100,641	101,671
Stock Issued During Period, Value, Dividend Reinvestment Plan	2	2	7	6
Stock Issued During Period, Value, Employee Benefit Plan	18	29	708	614
Stock Repurchased During Period, Value	(762)	(330)	(2,180)	(1,949)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	98,329	100,342	98,329	100,342	99,071	99,794	100,641	101,671
Stock Issued During Period, Value, Dividend Reinvestment Plan	2	2	7	6
Stock Issued During Period, Value, Employee Benefit Plan	18	29	708	614
Stock Repurchased During Period, Value	762	330	2,180	1,949
Additional Paid-in Capital [Member]
Equity [Abstract]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	435,787	470,709	435,787	470,709	444,162	465,406	473,323	494,202
Stock Issued During Period, Value, Dividend Reinvestment Plan	42	45	128	134
Stock Issued During Period, Value, Employee Benefit Plan	5,851	4,499	11,859	11,980
Stock Repurchased During Period, Value	(14,268)	(7,158)	(41,606)	(35,607)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	435,787	470,709	435,787	470,709	444,162	465,406	473,323	494,202
Stock Issued During Period, Value, Dividend Reinvestment Plan	42	45	128	134
Stock Issued During Period, Value, Employee Benefit Plan	5,851	4,499	11,859	11,980
Stock Repurchased During Period, Value	14,268	7,158	41,606	35,607
Retained Earnings [Member]
Equity [Abstract]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,149,034	1,104,219	1,149,034	1,104,219	1,145,911	1,124,590	1,088,379	1,070,655
Net income	18,976	31,937	72,141	82,032
Dividends, Common Stock, Cash	(15,853)	(16,097)	(47,697)	(48,468)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,149,034	1,104,219	1,149,034	1,104,219	1,145,911	1,124,590	1,088,379	1,070,655
Net income	18,976	31,937	72,141	82,032
Dividends, Common Stock, Cash	15,853	16,097	47,697	48,468
AOCI Attributable to Parent [Member]
Equity [Abstract]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(418,591)	(399,251)	(418,591)	(399,251)	(401,321)	(414,343)	(412,176)	(413,951)
Other comprehensive income (loss), net of tax	(17,270)	12,925	(4,248)	14,700
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(418,591)	(399,251)	(418,591)	(399,251)	(401,321)	(414,343)	(412,176)	(413,951)
Other comprehensive income (loss), net of tax	(17,270)	12,925	(4,248)	14,700
Noncontrolling Interest [Member]
Equity [Abstract]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	41,335	40,297	41,335	40,297	40,281	38,721	39,034	38,670
Net income	1,734	1,129	3,266	3,594
Other comprehensive income (loss), net of tax	(476)	355	(450)	(344)
Dividends, Common Stock, Cash	(204)	(221)	(202)	(1,623)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	41,335	40,297	41,335	40,297	$ 40,281	$ 38,721	$ 39,034	$ 38,670
Net income	1,734	1,129	3,266	3,594
Other comprehensive income (loss), net of tax	(476)	355	(450)	(344)
Dividends, Common Stock, Cash	$ 204	$ 221	$ 202	$ 1,623

Environmental Matters	9 Months Ended
Environmental Matters	Mar. 31, 2024
Environmental Remediation Obligations [Abstract]
ENVIRONMENTAL MATTERS	ENVIRONMENTAL MATTERS The operation of our business has exposed us to certain liabilities and compliance costs related to environmental matters. We are involved in various environmental cleanup and remediation activities at certain sites associated with our current or former operations. We establish and maintain accruals for estimated liabilities associated with certain environmental matters. At March 31, 2024, the balance of such accruals was $11.2 million, of which $1.5 million was current. At June 30, 2023, the balance was $12.0 million, of which $1.7 million was current. We record a loss contingency when the available information indicates it is probable that we have incurred a liability and the amount of the loss is reasonably estimable. The likelihood of a loss with respect to a particular environmental matter is often difficult to predict, and determining a meaningful estimate of the loss or a range of loss may not be practicable based on information available. When a material loss contingency is probable but a reasonable estimate cannot be made, or when a material loss contingency is at least reasonably possible, disclosure is provided. The accruals we have established for estimated environmental liabilities represent our best current estimate of the probable and reasonably estimable costs of addressing identified environmental situations, based on our review of currently available evidence, and taking into consideration our prior experience in remediation and that of other companies, as well as public information released by the United States Environmental Protection Agency (USEPA), other governmental agencies and by the Potentially Responsible Party (PRP) groups in which we are participating. The accrued liabilities for all environmental concerns could change substantially due to factors such as the nature and extent of contamination, changes in remedial requirements, technological changes, discovery of new information, the financial strength of other PRPs, the identification of new PRPs and the involvement of and direction taken by the government or the courts on these matters. Among other environmental laws, we are subject to the Comprehensive Environmental Response Compensation and Liability Act of 1980 (CERCLA), under which we have been identified by the USEPA or other third party as a PRP with respect to environmental remedial costs at certain Superfund sites. We have evaluated our claims and estimated liability associated with these sites based upon the best information currently available to us. We believe our environmental accruals are adequate to cover our portion of the environmental remedial costs at the sites where we have been designated a PRP, to the extent these expenses are probable and reasonably estimable.

- Definition

The entire disclosure for environmental loss contingencies, such as presence of hazardous waste, relevant information from reports issued by regulators, and estimated costs to achieve compliance with regulatory requirements. This element may be used for all of an entity's disclosures about environmental loss contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 410
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-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (d)(2)
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-URI https://asc.fasb.org//1943274/2147481931/410-30-50-10

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481931/410-30-50-10

Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org//1943274/2147481899/410-30-55-16

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 410
-SubTopic 30
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-URI https://asc.fasb.org//410-30/tableOfContent

Reference 6: http://www.xbrl.org/2003/role/recommendedDisclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481931/410-30-50-10

Reference 7: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 410
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147481931/410-30-50-10

Reference 8: http://www.xbrl.org/2003/role/recommendedDisclosureRef
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-Section 50
-Paragraph 10
-Subparagraph (c)
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-URI https://asc.fasb.org//1943274/2147481931/410-30-50-10

Reference 9: http://www.xbrl.org/2003/role/recommendedDisclosureRef
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-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (d)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481931/410-30-50-10

Reference 10: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 410
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (d)(5)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481931/410-30-50-10

Reference 11: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 410
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-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481931/410-30-50-11

Reference 12: http://www.xbrl.org/2003/role/recommendedDisclosureRef
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481931/410-30-50-14

Reference 13: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 410
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481931/410-30-50-17

Reference 14: http://www.xbrl.org/2003/role/exampleRef
-Topic 410
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-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481899/410-30-55-17

+ Details

Goodwill and Other Intangible Assets - Components of Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2024	Jun. 30, 2023
The components of intangible assets
Accumulated amortization	$ (181,798)	$ (181,798)	$ (173,346)
Intangible Assets, Gross (Excluding Goodwill)	$ 266,204	$ 266,204	266,510
Metal Cutting
The components of intangible assets
Business Combination, Reason for Business Combination	$3.6 million	$6.5 million.
Trademarks [Member]
The components of intangible assets
Gross carrying amount, Indefinite	$ 0	$ 0	10,836
Technology-based and other [Member]
The components of intangible assets
Gross carrying amount, finite	31,781	31,781	31,872
Accumulated amortization	(24,354)	(24,354)	(23,838)
Customer-related [Member]
The components of intangible assets
Gross carrying amount, finite	179,759	179,759	179,889
Accumulated amortization	(118,446)	(118,446)	(112,890)
Unpatented technology [Member]
The components of intangible assets
Gross carrying amount, finite	31,504	31,504	31,487
Accumulated amortization	(26,718)	(26,718)	(25,177)
Trademarks [Member]
The components of intangible assets
Gross carrying amount, finite	23,160	23,160	12,426
Accumulated amortization	$ (12,280)	$ (12,280)	$ (11,441)
Minimum [Member] \| Technology-based and other [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	4 years	4 years
Minimum [Member] \| Customer-related [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	10 years	10 years
Minimum [Member] \| Unpatented technology [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	10 years	10 years
Minimum [Member] \| Trademarks [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	5 years	5 years
Maximum [Member] \| Technology-based and other [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	20 years	20 years
Maximum [Member] \| Customer-related [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	21 years	21 years
Maximum [Member] \| Unpatented technology [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	30 years	30 years
Maximum [Member] \| Trademarks [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	20 years	20 years

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($)	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Taxes - Additional Information [Line Items]
Discrete Benefit for Swiss Tax Reform			$ 7,800,000	$ 2,200,000
Unrecognized Tax Benefits	$ 6,200,000		6,200,000
Litigation Settlement [Abstract]
Litigation Settlement, Expense			2,900,000
Provision for income taxes	7,816,000	$ 10,672,000	13,866,000	$ 26,878,000
Deferred Tax Assets, Net	6.8		6.8
Deferred Tax Assets, NOL'S , Tax Credits, and Other Carryforwards	$ 3.3		$ 3.3
Income Tax (Textual) [Abstract]
Effective tax rate	27.40%	24.40%	15.50%	23.90%

Accumulated Other Comprehensive Loss - Components of and Changes in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			$ (414,343)	$ (413,951)
Other comprehensive (loss) income before reclassifications			(6,895)	12,797
Amounts reclassified from accumulated other comprehensive loss			2,647	1,903
Net current period other comprehensive (loss) income			(4,248)	14,700
Accumulated Other Comprehensive Loss, Net of Tax	$ (418,591)	$ (399,251)	(418,591)	(399,251)
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			(215,435)	(208,406)
Other comprehensive (loss) income before reclassifications			239	(1,106)
Amounts reclassified from accumulated other comprehensive loss			3,191	2,480
Net current period other comprehensive (loss) income			3,430	1,374
Accumulated Other Comprehensive Loss, Net of Tax	(212,005)	(207,032)	(212,005)	(207,032)
Accumulated Currency Translation Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			(202,641)	(210,048)
Other comprehensive (loss) income before reclassifications			(7,091)	13,903
Amounts reclassified from accumulated other comprehensive loss				0
Net current period other comprehensive (loss) income			(7,091)	13,903
Accumulated Other Comprehensive Loss, Net of Tax	(209,732)	(196,145)	(209,732)	(196,145)
Accumulated Net (Loss) Gain from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			3,733	4,503
Other comprehensive (loss) income before reclassifications			(43)	0
Amounts reclassified from accumulated other comprehensive loss			(544)	(577)
Net current period other comprehensive (loss) income			(587)	(577)
Accumulated Other Comprehensive Loss, Net of Tax	3,146	3,926	3,146	3,926
Noncontrolling Interest [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			(8,139)	(7,547)
Other comprehensive (loss) income before reclassifications			(450)	(344)
Net current period other comprehensive (loss) income			(450)	(344)
Accumulated Other Comprehensive Loss, Net of Tax	(8,589)	(7,891)	(8,589)	(7,891)
Reclassification out of Accumulated Other Comprehensive Loss [Member] \| Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest	(1,432)	(1,119)	(4,284)	(3,321)
Reclassification out of Accumulated Other Comprehensive Loss [Member] \| Accumulated Net (Loss) Gain from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest	$ 219	$ 255	$ 749	$ 766

Segment Data Disaggregation of Revenue (Details)	3 Months Ended		9 Months Ended
Segment Data Disaggregation of Revenue (Details)	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	46.00%	47.00%	47.00%	47.00%
Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	17.00%	16.00%	17.00%	16.00%
Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	11.00%	10.00%	10.00%	9.00%
Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	13.00%	14.00%	13.00%	14.00%
Earthworks [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	13.00%	13.00%	13.00%	14.00%
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	49.00%	50.00%	49.00%	50.00%
EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	32.00%	31.00%	31.00%	29.00%
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	19.00%	19.00%	20.00%	21.00%
Infrastructure [Member] \| General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	33.00%	33.00%	34.00%	34.00%
Infrastructure [Member] \| Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	0.00%	0.00%	0.00%	0.00%
Infrastructure [Member] \| Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	8.00%	6.00%	7.00%	5.00%
Infrastructure [Member] \| Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	24.00%	26.00%	23.00%	25.00%
Infrastructure [Member] \| Earthworks [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	35.00%	35.00%	36.00%	36.00%
Infrastructure [Member] \| Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	58.00%	60.00%	58.00%	61.00%
Infrastructure [Member] \| EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	20.00%	19.00%	19.00%	17.00%
Infrastructure [Member] \| Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	22.00%	21.00%	23.00%	22.00%
Metal Cutting \| General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	54.00%	55.00%	54.00%	55.00%
Metal Cutting \| Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	26.00%	26.00%	27.00%	27.00%
Metal Cutting \| Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	13.00%	12.00%	12.00%	11.00%
Metal Cutting \| Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	7.00%	7.00%	7.00%	7.00%
Metal Cutting \| Earthworks [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	0.00%	0.00%	0.00%	0.00%
Metal Cutting \| Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	44.00%	44.00%	44.00%	44.00%
Metal Cutting \| EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	39.00%	38.00%	38.00%	36.00%
Metal Cutting \| Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	17.00%	18.00%	18.00%	20.00%

Fair Value Measurements (Tables)

9 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Financial instruments at fair value on recurring basis

As of March 31, 2024, the fair values of our financial assets and financial liabilities are categorized as follows:


(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Derivatives (1)	$	—	$	129	$	—	$	129
Total assets at fair value	$	—	$	129	$	—	$	129

Liabilities:
Derivatives (1)	$	—	$	10	$	—	$	10
Total liabilities at fair value	$	—	$	10	$	—	$	10

As of June 30, 2023, the fair values of our financial assets and financial liabilities are categorized as follows:


(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Derivatives (1)	$	—	$	68	$	—	$	68
Total assets at fair value	$	—	$	68	$	—	$	68

Liabilities:
Derivatives (1)	$	—	$	100	$	—	$	100
Total liabilities at fair value	$	—	$	100	$	—	$	100

(1) Currency derivatives are valued based on observable market spot and forward rates and are classified within Level 2 of the fair value hierarchy.

Accumulated Other Comprehensive Loss - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Loss [Line Items]
Currency exchange contracts	$ 76	$ (986)	$ 674	$ (2,584)
Recognition of actuarial losses	1,432	1,119	4,284	3,321
Provision for income taxes	7,816	10,672	13,866	26,878
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(219)	(255)	(749)	(766)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	60	63	205	189
Reclassification of unrealized gain on derivatives designated and qualified as cash flow hedges	(159)	(192)	(544)	(577)
Unrecognized net pension and other postretirement benefit (loss) gain, before tax	655	(1,428)	324	(1,512)
Unrecognized net pension and other postretirement benefit (loss) gain, tax	(181)	369	(85)	406
Unrecognized net pension and other postretirement benefit plans gain	474	(1,059)	239	(1,106)
Reclassification of net pension and other postretirement benefit loss, tax	(366)	(277)	(1,093)	(841)
Reclassification of net pension and other postretirement benefit loss	1,066	842	3,191	2,480
Foreign currency translation adjustments, before tax	(19,229)	13,598	(7,517)	13,474
Foreign currency translation adjustments, tax	86	91	(24)	85
Foreign currency translation adjustments	(19,143)	13,689	(7,541)	13,559
Other comprehensive income (loss), before tax	(17,339)	13,034	(3,717)	14,517
Other comprehensive income (loss), tax	(407)	246	(981)	(161)
Other comprehensive income (loss), net of tax	(17,746)	13,280	(4,698)	14,356
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	22	0	(59)	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	(6)	0	16	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	16	0	(43)	0
Reclassification out of Accumulated Other Comprehensive Loss [Member] \| Accumulated Net (Loss) Gain from Designated or Qualifying Cash Flow Hedges [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Loss [Line Items]
Total before tax	(219)	(255)	(749)	(766)
Net of tax	159	192	544	577
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	60	63	205	189
Reclassification out of Accumulated Other Comprehensive Loss [Member] \| Accumulated Defined Benefit Plans Adjustment [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Loss [Line Items]
Amortization of transition obligations	19	21	57	62
Amortization of prior service credit	(64)	(67)	(194)	(199)
Recognition of actuarial losses	1,477	1,165	4,421	3,458
Total before tax	1,432	1,119	4,284	3,321
Provision for income taxes	(366)	(277)	(1,093)	(841)
Net of tax	(1,066)	(842)	(3,191)	(2,480)
Reclassification out of Accumulated Other Comprehensive Loss [Member] \| Forward Starting Interest Rate Swap Contracts [Member] \| Accumulated Net (Loss) Gain from Designated or Qualifying Cash Flow Hedges [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Loss [Line Items]
Forward starting interest rate swaps	255	255	766	766
Reclassification out of Accumulated Other Comprehensive Loss [Member] \| Currency Forward Contracts [Member] \| Accumulated Net (Loss) Gain from Designated or Qualifying Cash Flow Hedges [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Loss [Line Items]
Currency exchange contracts	$ 36	$ 0	$ 17	$ 0

Earnings Per Share (Tables) (Tables)

9 Months Ended

Mar. 31, 2024

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

The following table provides the computation of diluted shares outstanding for the three and nine months ended March 31, 2024 and 2023:


	Three Months Ended March 31,		Nine Months Ended March 31,
(in thousands)	2024	2023	2024	2023
Weighted-average shares outstanding during the period	79,229	80,611	79,655	80,967
Add: Unexercised stock options and unvested restricted stock units	620	670	542	558
Number of shares on which diluted earnings per share is calculated	79,849	81,281	80,197	81,525
Unexercised stock options with an exercise price greater than the average market price and restricted stock units not included in the computation because they were anti-dilutive	349	453	420	646

Pension and Other Postretirement Benefits (Tables)

9 Months Ended

Mar. 31, 2024

Pension Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Net periodic pension (income)

The table below summarizes the components of net periodic pension income:


	Three Months Ended March 31,				Nine Months Ended March 31,
(in thousands)	2024		2023		2024		2023
Service cost	$	298	$	243	$	888	$	718
Interest cost	8,901		8,085		26,665		24,127
Expected return on plan assets	(11,156)		(10,045)		(33,442)		(30,054)
Amortization of transition obligation	19		21		57		62
Amortization of prior service (credit) cost	(1)		1		(4)		4
Recognition of actuarial losses	1,442		1,117		4,315		3,314


Net periodic pension income	$	(497)	$	(578)	$	(1,521)	$	(1,829)

Other Postretirement Benefits Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Net periodic pension (income)

The table below summarizes the components of net periodic other postretirement benefit cost:


	Three Months Ended March 31,				Nine Months Ended March 31,
(in thousands)	2024		2023		2024		2023

Interest cost	$	106	$	104	$	318	$	312
Amortization of prior service credit	(63)		(68)		(190)		(203)
Recognition of actuarial loss	35		48		106		144
Net periodic other postretirement benefit cost	$	78	$	84	$	234	$	253

Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets	$ 129	$ 68
Total assets at fair value	129	68
Derivatives Liabilities	10	100
Total liabilities at fair value	10	100
Fair Value, Recurring [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets	129	68
Total assets at fair value	129	68
Derivatives Liabilities	10	100
Total liabilities at fair value	$ 10	$ 100

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

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- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

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+ Details

Long-Term Debt	9 Months Ended
Long-Term Debt	Mar. 31, 2024
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Fixed rate debt had a fair market value of $549.9 million and $527.4 million at March 31, 2024 and June 30, 2023, respectively. The Level 2 fair value is determined based on the quoted market prices for similar debt instruments as of March 31, 2024 and June 30, 2023, respectively.
Short-term Debt	11. REVOLVING AND OTHER LINES OF CREDIT AND NOTES PAYABLE During fiscal 2022, we entered into the Sixth Amended and Restated Credit Agreement dated as of June 14, 2022 (the Credit Agreement). The Credit Agreement is a five-year, multi-currency, revolving credit facility, which we use to augment cash from operations and as an additional source of funds. The Credit Agreement provides for revolving credit loans of up to $700.0 million for working capital, capital expenditures and general corporate purposes. The Credit Agreement allows for borrowings in U.S. dollars, euros, Canadian dollars, pounds sterling and Japanese yen. Interest payable under the Credit Agreement is based upon the type of borrowing under the facility and may be (1) Euro Interbank Offered Rate (EURIBOR), Sterling Overnight Index Average (SONIA), Tokyo Interbank Offered Rate (TIBOR), Secured Overnight Financing Rate (SOFR), and Canadian Dollar Offered Rate (CDOR) for any borrowings in euros, pounds sterling, yen, U.S. dollars and Canadian dollars, respectively, plus an applicable margin, (2) the greater of the prime rate or the Federal Funds effective rate plus an applicable margin, or (3) fixed as negotiated by us. The Credit Agreement matures in June 2027. The Credit Agreement requires us to comply with various restrictive and affirmative covenants, including one financial covenant: a maximum leverage ratio where debt, net of domestic cash in excess of $25 million and sixty percent of the unrestricted cash held outside of the United States, must be less than or equal to 3.75 times trailing twelve months EBITDA, adjusted for certain non-cash expenses. As of March 31, 2024, we were in compliance with all the covenants of the Credit Agreement, and there were $7.5 million of borrowings outstanding and $692.5 million of additional availability. There were no borrowings outstanding as of June 30, 2023. Borrowings on other lines of credit and notes payable were $4.8 million and $0.7 million at March 31, 2024 and June 30, 2023, respectively.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Net income	$ 20,710	$ 33,066	$ 75,407	$ 85,626
Other comprehensive income (loss), net of tax [Abstract]
Reclassification of unrealized gain on derivatives designated and qualified as cash flow hedges	(159)	(192)	(544)	(577)
Unrecognized net pension and other postretirement benefit plans gain	474	(1,059)	239	(1,106)
Reclassification of net pension and other postretirement benefit loss	1,066	842	3,191	2,480
Foreign currency translation adjustments	(19,143)	13,689	(7,541)	13,559
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	16	0	(43)	0
Total other comprehensive loss, net of tax	(17,746)	13,280	(4,698)	14,356
Total comprehensive income (loss)	2,964	46,346	70,709	99,982
Less: comprehensive loss attributable to noncontrolling interests	1,258	1,483	2,816	3,250
Comprehensive income (loss) attributable to Kennametal Shareholders	1,706	44,863	67,893	96,732
Accumulated Other Comprehensive (Loss) Income [Line Items]
Provision for income taxes	7,816	10,672	13,866	26,878
Reclassification out of Accumulated Other Comprehensive Loss [Member] \| Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Provision for income taxes	$ (366)	$ (277)	$ (1,093)	$ (841)

Derivative Instruments and Hedging Activities - Fair Value of Derivatives Designated and Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Fair value of derivatives
Derivative, Fair Value, Net	$ 119	$ (32)
Not Designated as Hedging Instrument [Member]
Fair value of derivatives
Derivative, Fair Value, Net	(7)	(32)
Designated as Hedging Instrument [Member]
Fair value of derivatives
Derivative, Fair Value, Net	126	0
Currency Forward Contracts [Member] \| Not Designated as Hedging Instrument [Member] \| Other Current Assets [Member]
Fair value of derivatives
Derivative assets designated as hedging instruments	3	68
Currency Forward Contracts [Member] \| Not Designated as Hedging Instrument [Member] \| Other Current Liabilities [Member]
Fair value of derivatives
Derivative liabilities designated as hedging instruments	(10)	(100)
Range Forward Contracts [Member] \| Designated as Hedging Instrument [Member] \| Other Current Assets [Member]
Fair value of derivatives
Derivative assets designated as hedging instruments	$ 126	$ 0

Long-Term Debt (Details) - USD ($)	Mar. 31, 2024	Jun. 30, 2023	Jun. 14, 2022
Long-Term Debt (Additional Textual) [Abstract]
Fixed rate at fair market value	$ 549,900,000	$ 527,400,000
Notes Payable	4,800,000	700,000
2018 Credit Agreement [Member]
Long-Term Debt (Textual) [Abstract]
Line of Credit Facility, Remaining Borrowing Capacity	692,500,000
Borrowing outstanding under 2018 Credit Agreement	7,500,000	$ 0
Line of Credit Facility, Maximum Borrowing Capacity			$ 700,000,000
Line of Credit [Member]
Long-Term Debt (Textual) [Abstract]
Net Debt to EBITDA Ratio, Maximum	3.75
Net Debt to EBITDA Ratio, domestic cash allowed to net debt, amount, minimum	$ 25,000,000

Stock-Based Compensation

9 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

Stock Options

Changes in our stock options for the nine months ended March 31, 2024 were as follows:


	Options	Weighted Average Exercise Price		Weighted Average Remaining Life (years)	Aggregate Intrinsic Value (in thousands)
Options outstanding, June 30, 2023	217,614	$	37.29

Exercised	—	—
Lapsed or forfeited	(52,304)	45.24
Options outstanding, March 31, 2024	165,310	$	34.78	1.0	$	57
Options vested, March 31, 2024	165,310	$	34.78	1.0	$	57
Options exercisable, March 31, 2024	165,310	$	34.78	1.0	$	57

As of March 31, 2024 and June 30, 2023, there was no unrecognized compensation cost related to options outstanding, and all options were fully vested as of March 31, 2024 and June 30, 2023.

There was no cash received from the exercise of options during the nine months ended March 31, 2024 and 2023. The total intrinsic value of options exercised during the nine months ended March 31, 2024 and 2023 was zero.

Restricted Stock Units – Performance Vesting and Time Vesting

Changes in our performance vesting and time vesting restricted stock units for the nine months ended March 31, 2024 were as follows:


	Performance Vesting Stock Units	Performance Vesting Weighted Average Fair Value		Time Vesting Stock Units	Time Vesting Weighted Average Fair Value
Unvested, June 30, 2023	483,481	$	31.68	1,207,442	$	30.26
Granted	270,911	25.99		714,334	25.84
Vested	(176,508)	33.49		(610,537)	31.20
Performance metric adjustments, net	37,378	38.45		—	—
Forfeited	(62,801)	32.05		(46,749)	27.53
Unvested, March 31, 2024	552,461	$	28.73	1,264,490	$	27.41

During the nine months ended March 31, 2024 and 2023, compensation expense related to time vesting and performance vesting restricted stock units was $19.8 million and $17.7 million, respectively. Performance vesting stock units were adjusted by 37,378 units during the nine months ended March 31, 2024 related to the fiscal 2023 performance year. As of March 31, 2024, the total unrecognized compensation cost related to unvested time vesting and performance vesting restricted stock units was $28.0 million and is expected to be recognized over a weighted average period of 1.7 years.

Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

The components of intangible assets

During the three months ended March 31, 2024, the Company determined that certain trademarks are no longer considered indefinite-lived and commenced amortization during the current quarter. The components of our other intangible assets were as follows:


	Estimated Useful Life (in years)	March 31, 2024				June 30, 2023
(in thousands)		Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization

Technology-based and other	4 to 20	$	31,781	$	(24,354)		$	31,872	$	(23,838)
Customer-related	10 to 21	179,759		(118,446)			179,889		(112,890)
Unpatented technology	10 to 30	31,504		(26,718)			31,487		(25,177)
Trademarks	5 to 20	23,160		(12,280)			12,426		(11,441)
Trademarks	Indefinite	—		—			10,836		—
Total		$	266,204	$	(181,798)		$	266,510	$	(173,346)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
OPERATING ACTIVITIES
Net income	$ 75,407	$ 85,626
Adjustments to reconcile to cash from operations:
Depreciation	91,056	91,710
Amortization	8,674	9,476
Stock-based compensation expense	20,651	18,765
Restructuring and other charges, net (Note 6)	10,585	(2,499)
Deferred income taxes	(7,661)	(2,658)
Other	13,511	3,971
Changes in certain assets and liabilities:
Accounts receivable	3,875	(16,427)
Inventories	7,044	(17,271)
Accounts payable and accrued liabilities	(26,014)	(46,253)
Accrued income taxes	(17,459)	1,524
Accrued pension and postretirement benefits	(8,529)	(6,994)
Other	(7,680)	7,212
Net cash flow provided by (used in) operating activities	163,460	126,182
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(84,240)	(71,083)
Disposals of property, plant and equipment	5,270	4,774
Payments to Acquire Businesses, Net of Cash Acquired	4,010	0
Other	(3,131)	95
Net cash flow used in investing activities	(86,111)	(66,214)
FINANCING ACTIVITIES
Net increase in notes payable	4,132	(567)
Net increase in revolving and other lines of credit	7,500	43,600
Purchase of capital stock	(43,786)	(37,556)
The effect of employee benefit and stock plans and dividend reinvestment	(7,949)	(6,036)
Cash dividends paid to Shareholders	(47,697)	(48,468)
Other	(859)	(986)
Net cash flow (used in) provided by financing activities	(88,659)	(50,013)
Effect of exchange rate changes on cash and cash equivalents	(2,592)	(2,067)
Net decrease in cash and cash equivalents	(13,902)	7,888
Cash and cash equivalents, end of period	$ 92,119	$ 93,474

Stock-Based Compensation - Changes in Restricted Stock Units (Details)	9 Months Ended
	Mar. 31, 2024 $ / shares shares
Restricted Stock Units - Performance Vesting [Member]
Changes in restricted stock awards
Unvested restricted stock awards, Beginning \| shares	483,481
Granted, Shares \| shares	270,911
Vested, Shares \| shares	(176,508)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations \| shares	37,378
Forfeited, Shares \| shares	(62,801)
Unvested restricted stock awards, Ending \| shares	552,461
Weighted Average Fair Value, Unvested restricted stock awards, Beginning \| $ / shares	$ 31.68
Weighted Average Fair Value, Granted \| $ / shares	25.99
Weighted Average Fair Value, Vested \| $ / shares	33.49
Share-based Compensation Arrangements by Share-based Payment Award, Options, Other Share Increase (Decrease) in Period, Weighted Average Exercise Price \| $ / shares	38.45
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value \| $ / shares	32.05
Weighted Average Fair Value, Unvested restricted stock awards, Ending \| $ / shares	$ 28.73
Restricted Stock Units - Time Vesting [Member]
Changes in restricted stock awards
Unvested restricted stock awards, Beginning \| shares	1,207,442
Granted, Shares \| shares	714,334
Vested, Shares \| shares	(610,537)
Performance metric adjustments, net, Shares \| shares	0
Forfeited, Shares \| shares	(46,749)
Unvested restricted stock awards, Ending \| shares	1,264,490
Weighted Average Fair Value, Unvested restricted stock awards, Beginning \| $ / shares	$ 30.26
Weighted Average Fair Value, Granted \| $ / shares	25.84
Weighted Average Fair Value, Vested \| $ / shares	31.20
Weighted Average Fair Value, Performance Metric Not Achieved \| $ / shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value \| $ / shares	27.53
Weighted Average Fair Value, Unvested restricted stock awards, Ending \| $ / shares	$ 27.41

Equity	3 Months Ended	9 Months Ended
Equity	Mar. 31, 2024	Mar. 31, 2024
Equity [Abstract]
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:	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:

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 13
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (d)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Restructuring (Tables)

9 Months Ended

Mar. 31, 2024

Restructuring Cost and Reserve [Line Items]

Schedule of Restructuring Reserve by Type of Cost


(in thousands)	June 30, 2023		Expense		Translation		Cash Expenditures		March 31, 2024
Severance	$	9,885	$	11,192	$	(60)	$	(8,758)	$	12,259


Total	$	9,885	$	11,192	$	(60)	$	(8,758)	$	12,259

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Income Taxes	9 Months Ended
Income Taxes	Mar. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective income tax rates for the three months ended March 31, 2024 and 2023 were 27.4 percent and 24.4 percent, respectively. The year-over-year change is primarily due to geographical mix, partially offset by discrete tax benefits recorded in the current year quarter related to provision to return adjustments. The effective income tax rates for the nine months ended March 31, 2024 and 2023 were 15.5 percent and 23.9 percent, respectively. The year-over-year change is primarily due to adjustments for the nine months ended March 31, 2024 that include a $7.8 million benefit related to a tax rate change enacted in Switzerland, a $6.2 million benefit associated with a change in unrecognized tax benefits and a $2.9 million charge to settle tax litigation in Italy, coupled with a $2.2 million benefit in the nine months ended March 31, 2023 to adjust a deferred tax asset associated with tax reform in Switzerland and geographical mix. As of March 31, 2024, we have $6.8 million of net deferred tax assets in China. Included in this amount is $3.3 million related to net operating losses that can be used to offset future taxable income in China. Certain of these loss carryforwards will expire if they are not used within a specified timeframe. At this time, we consider it more likely than not that we will have sufficient taxable income in China in the future that will allow us to realize these deferred tax assets not currently offset by the valuation allowance. However, it is possible that some or all these tax attributes could ultimately expire unused. Therefore, if we are unable to generate sufficient taxable income in China from our operations, a valuation allowance to reduce the net deferred tax assets may be required, which would increase income tax expense in the period in which the valuation allowance is recorded.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Supplemental Cash Flow

9 Months Ended

Mar. 31, 2024

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Disclosures


	Nine Months Ended March 31,
(in thousands)	2024		2023
Cash paid during the period for:
Interest	$	18,631	$	19,720
Income taxes	32,458		28,012
Supplemental disclosure of non-cash information:
Changes in accounts payable related to purchases of property, plant and equipment	(7,209)		(7,245)

Pension and Other Postretirement Benefits

9 Months Ended

Mar. 31, 2024

Retirement Benefits [Abstract]

PENSION AND OTHER POSTRETIREMENT BENEFITS

The table below summarizes the components of net periodic pension income:


	Three Months Ended March 31,				Nine Months Ended March 31,
(in thousands)	2024		2023		2024		2023
Service cost	$	298	$	243	$	888	$	718
Interest cost	8,901		8,085		26,665		24,127
Expected return on plan assets	(11,156)		(10,045)		(33,442)		(30,054)
Amortization of transition obligation	19		21		57		62
Amortization of prior service (credit) cost	(1)		1		(4)		4
Recognition of actuarial losses	1,442		1,117		4,315		3,314


Net periodic pension income	$	(497)	$	(578)	$	(1,521)	$	(1,829)

The table below summarizes the components of net periodic other postretirement benefit cost:


	Three Months Ended March 31,				Nine Months Ended March 31,
(in thousands)	2024		2023		2024		2023

Interest cost	$	106	$	104	$	318	$	312
Amortization of prior service credit	(63)		(68)		(190)		(203)
Recognition of actuarial loss	35		48		106		144
Net periodic other postretirement benefit cost	$	78	$	84	$	234	$	253

The service cost component of net periodic pension income is reported as a component of cost of goods sold and operating expense. All other components of net periodic pension income and net periodic other postretirement benefit cost are reported as a component of other (income) expense, net.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Accumulated Other Comprehensive Loss

9 Months Ended

Mar. 31, 2024

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

Accumulated Other Comprehensive Loss

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, 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)

The components of, and changes in, AOCL were as follows, net of tax, for the nine months ended March 31, 2023:


(in thousands)	Pension and other postretirement benefits		Currency translation adjustment		Derivatives		Total
Attributable to Kennametal:
Balance, June 30, 2022	$	(208,406)	$	(210,048)	$	4,503	$	(413,951)
Other comprehensive (loss) income before reclassifications	(1,106)		13,903		—		12,797
Amounts reclassified from AOCL	2,480		—		(577)		1,903
Net other comprehensive income (loss)	1,374		13,903		(577)		14,700
AOCL, March 31, 2023	$	(207,032)	$	(196,145)	$	3,926	$	(399,251)

Attributable to noncontrolling interests:
Balance, June 30, 2022	$	—	$	(7,547)	$	—	$	(7,547)
Other comprehensive loss before reclassifications	—		(344)		—		(344)
Net other comprehensive loss	—		(344)		—		(344)
AOCL, March 31, 2023	$	—	$	(7,891)	$	—	$	(7,891)

Reclassifications out of AOCL for the three and nine months ended March 31, 2024 and 2023 consisted of the following:


	Three Months Ended March 31,				Nine Months Ended March 31,
(in thousands)	2024		2023		2024		2023		Affected line item in the Income Statement
(Gains) losses on cash flow hedges:
Forward starting interest rate swaps	$	(255)	$	(255)	$	(766)	$	(766)	Interest expense
Currency exchange contracts	36		—		17		—		Cost of goods sold
Total before tax	(219)		(255)		(749)		(766)
Tax impact	60		63		205		189		Provision for income taxes
Net of tax	$	(159)	$	(192)	$	(544)	$	(577)

Pension and other postretirement benefits:
Amortization of transition obligations	$	19	$	21	$	57	$	62	Other (income) expense, net
Amortization of prior service credit	(64)		(67)		(194)		(199)		Other (income) expense, net
Recognition of actuarial losses	1,477		1,165		4,421		3,458		Other (income) expense, net
Total before tax	1,432		1,119		4,284		3,321
Tax impact	(366)		(277)		(1,093)		(841)		Provision for income taxes
Net of tax	$	1,066	$	842	$	3,191	$	2,480

The amount of income tax allocated to each component of other comprehensive (loss) income for the three months ended March 31, 2024 and 2023 were as follows:


			2024						2023
(in thousands)	Pre-tax		Tax impact		Net of tax		Pre-tax		Tax impact		Net of tax
Unrealized gain on derivatives designated and qualified as cash flow hedges	$	22	$	(6)	$	16	$	—	$	—	$	—
Reclassification of unrealized gain on derivatives designated and qualified as cash flow hedges	(219)		60		(159)		(255)		63		(192)
Unrecognized net pension and other postretirement benefit plans gain (loss)	655		(181)		474		(1,428)		369		(1,059)
Reclassification of net pension and other postretirement benefit plans loss	1,432		(366)		1,066		1,119		(277)		842
Foreign currency translation adjustments	(19,229)		86		(19,143)		13,598		91		13,689

Other comprehensive (loss) income	$	(17,339)	$	(407)	$	(17,746)	$	13,034	$	246	$	13,280

Earnings Per Shares (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
Earnings Per Shares (Details) - shares shares in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted Average Number of Shares Outstanding, Basic	79,229	80,611	79,655	80,967
Earnings Per Share (Textual) [Abstract]
Increase in weighted average shares due to dilutive effect of unexercised capital stock options and unvested restricted stock units	620	670	542	558
Weighted Average Number of Shares Outstanding, Diluted	79,849	81,281	80,197	81,525
Unexercised capital stock options and restricted stock units excluded from computation of diluted EPS	349	453	420	646

Fair Value Measurements

9 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

Fair value is defined as the price that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy consists of three levels to prioritize the inputs used in valuations, as defined below:

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3: Inputs that are unobservable.

As of March 31, 2024, the fair values of our financial assets and financial liabilities are categorized as follows:


(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Derivatives (1)	$	—	$	129	$	—	$	129
Total assets at fair value	$	—	$	129	$	—	$	129

Liabilities:
Derivatives (1)	$	—	$	10	$	—	$	10
Total liabilities at fair value	$	—	$	10	$	—	$	10

As of June 30, 2023, the fair values of our financial assets and financial liabilities are categorized as follows:


(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Derivatives (1)	$	—	$	68	$	—	$	68
Total assets at fair value	$	—	$	68	$	—	$	68

Liabilities:
Derivatives (1)	$	—	$	100	$	—	$	100
Total liabilities at fair value	$	—	$	100	$	—	$	100

(1) Currency derivatives are valued based on observable market spot and forward rates and are classified within Level 2 of the fair value hierarchy.

There have been no changes in classification and transfers between levels in the fair value hierarchy in the current period.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Restructuring and Related Charges - Restructuring Accrual (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2024 USD ($)
Restructuring Reserve [Abstract]
Beginning Balance	$ 9,885
Restructuring Charges	11,192
Translation	(60)
Cash Expenditures	(8,758)
Ending Balance	12,259
Severance [Member]
Restructuring Reserve [Abstract]
Beginning Balance	9,885
Restructuring Charges	11,192
Translation	(60)
Cash Expenditures	(8,758)
Ending Balance	$ 12,259

Label	Element	Value
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 85,586,000

Equity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Equity (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Beginning Balance	$ 1,328,104	$ 1,289,201	$ 1,314,168	$ 1,291,247
Net income	20,710	33,066	75,407	85,626
Other comprehensive income (loss)	(17,746)	13,280	(4,698)	14,356
Dividend reinvestment	44	47	135	140
Capital stock issued under employee benefit and stock plans	5,869	4,528	12,567	12,594
Purchase of capital stock	(15,030)	(7,488)	(43,786)	(37,556)
Cash dividends	(15,853)	(16,097)	(47,697)	(48,468)
Ending Balance	1,305,894	1,316,316	1,305,894	1,316,316
Capital stock [Member]
Beginning Balance	99,071	100,641	99,794	101,671
Dividend reinvestment	2	2	7	6
Capital stock issued under employee benefit and stock plans	18	29	708	614
Purchase of capital stock	(762)	(330)	(2,180)	(1,949)
Ending Balance	98,329	100,342	98,329	100,342
Additional paid-in capital [Member]
Beginning Balance	444,162	473,323	465,406	494,202
Dividend reinvestment	42	45	128	134
Capital stock issued under employee benefit and stock plans	5,851	4,499	11,859	11,980
Purchase of capital stock	(14,268)	(7,158)	(41,606)	(35,607)
Ending Balance	435,787	470,709	435,787	470,709
Retained earnings [Member]
Beginning Balance	1,145,911	1,088,379	1,124,590	1,070,655
Net income	18,976	31,937	72,141	82,032
Cash dividends	(15,853)	(16,097)	(47,697)	(48,468)
Ending Balance	1,149,034	1,104,219	1,149,034	1,104,219
Accumulated other comprehensive loss [Member]
Beginning Balance	(401,321)	(412,176)	(414,343)	(413,951)
Other comprehensive income (loss)	(17,270)	12,925	(4,248)	14,700
Ending Balance	(418,591)	(399,251)	(418,591)	(399,251)
Non-controlling interest [Member]
Beginning Balance	40,281	39,034	38,721	38,670
Net income	1,734	1,129	3,266	3,594
Other comprehensive income (loss)	(476)	355	(450)	(344)
Cash dividends	(204)	(221)	(202)	(1,623)
Ending Balance	$ 41,335	$ 40,297	$ 41,335	$ 40,297

Segment Data (Tables)

9 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Disaggregation of Revenue [Table Text Block]

The following table presents Kennametal's revenue disaggregated by geography:


	Three Months Ended
	March 31, 2024			March 31, 2023
(in percentages)	Metal Cutting	Infrastructure	Total Kennametal	Metal Cutting	Infrastructure	Total Kennametal
Americas	44%	58%	49%	44%	60%	50%
Europe, the Middle East and Africa (EMEA)	39	20	32	38	19	31
Asia Pacific	17	22	19	18	21	19


	Nine Months Ended
	March 31, 2024			March 31, 2023
(in percentages)	Metal Cutting	Infrastructure	Total Kennametal	Metal Cutting	Infrastructure	Total Kennametal
Americas	44%	58%	49%	44%	61%	50%
EMEA	38	19	31	36	17	29
Asia Pacific	18	23	20	20	22	21

To better align with the Company's strategic goals and initiatives, certain of the end markets that are reported externally and used to analyze sales performance were redefined beginning in the fourth quarter of fiscal 2023. The changes include 1.) defense sales were moved from General Engineering and are now combined with Aerospace sales for a new "Aerospace & Defense" end market, 2.) certain Metal Cutting sales have been reclassified from General Engineering to the Aerospace & Defense end market, and 3.) Infrastructure's ceramics sales have been reclassified from Energy to the General Engineering end market. The fiscal 2023 period has been retrospectively restated to align with the new end markets.

The following tables presents Kennametal's revenue disaggregated by end market:


	Three Months Ended March 31, 2024
(in percentages)	Metal Cutting	Infrastructure	Total Kennametal
General Engineering	54%	33%	46%
Transportation	26	—	17
Aerospace & Defense	13	8	11
Energy	7	24	13
Earthworks	—	35	13


	Three Months Ended March 31, 2023
(in percentages)	Metal Cutting	Infrastructure	Total Kennametal
General Engineering	55%	33%	47%
Transportation	26	—	16
Aerospace & Defense	12	6	10
Energy	7	26	14
Earthworks	—	35	13


	Nine Months Ended March 31, 2024
(in percentages)	Metal Cutting	Infrastructure	Total Kennametal
General Engineering	54%	34%	47%
Transportation	27	—	17
Aerospace & Defense	12	7	10
Energy	7	23	13
Earthworks	—	36	13


	Nine Months Ended March 31, 2023
(in percentages)	Metal Cutting	Infrastructure	Total Kennametal
General Engineering	55%	34%	47%
Transportation	27	—	16
Aerospace & Defense	11	5	9
Energy	7	25	14
Earthworks	—	36	14

Sales and operating income (loss) by segment and segment assets

Our sales and operating income by segment are as follows:


	Three Months Ended March 31,				Nine Months Ended March 31,
(in thousands)	2024		2023		2024		2023
Sales:
Metal Cutting	$	326,561	$	333,507	$	946,237	$	932,912
Infrastructure	189,233		202,529		557,354		595,037
Total sales	$	515,794	$	536,036	$	1,503,591	$	1,527,949
Operating income:
Metal Cutting	$	30,809	$	43,765	$	88,453	$	98,593
Infrastructure	5,140		9,658		22,020		40,543
Corporate	(722)		(952)		(1,649)		(2,649)
Total operating income	35,227		52,471		108,824		136,487
Interest expense	6,777		7,747		20,225		21,399
Other (income) expense, net	(76)		986		(674)		2,584
Income before income taxes	$	28,526	$	43,738	$	89,273	$	112,504

Stock-Based Compensation - Changes in Stock Options (Details)	9 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Changes in stock options
Options outstanding, Beginning \| shares	217,614
Options, Exercised \| shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period \| shares	(52,304)
Options outstanding, Ending \| shares	165,310
Options vested and expected to vest, Ending \| shares	165,310
Options exercisable, Ending \| shares	165,310
Weighted Average Exercise Price, Options outstanding, Beginning \| $ / shares	$ 37.29
Weighted Average Exercise Price, Exercised \| $ / shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price \| $ / shares	45.24
Weighted Average Exercise Price, Options outstanding, Ending \| $ / shares	34.78
Weighted Average Exercise Price, Option vested and expected to vest, September 30, 2022 \| $ / shares	34.78
Weighted Average Exercise Price, Options exercisable, Ending \| $ / shares	$ 34.78
Weighted Average Remaining Life, Options exercisable, Ending	1 year
Aggregate Intrinsic value, Options outstanding, Ending \| $	$ 57,000
Aggregate Intrinsic Value, Options vested and expected to vest, Ending \| $	57,000
Aggregate Intrinsic Value, Options exercisable, Ending \| $	$ 57,000

Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value of derivatives


(in thousands)	March 31, 2024		June 30, 2023
Derivatives designated as hedging instruments
Other current assets - range forward contracts	$	126	$	—



Total derivatives designated as hedging instruments	126		—
Derivatives not designated as hedging instruments
Other current assets - currency forward contracts	$	3	$	68
Other current liabilities - currency forward contracts	(10)		(100)
Total derivatives not designated as hedging instruments	(7)		(32)
Total derivatives	$	119	$	(32)

(Gains) losses related to derivatives not designated as hedging instruments

related to derivatives not designated as hedging instruments have been recognized as follows:


	Three Months Ended March 31,				Nine Months Ended March 31,
(in thousands)	2024		2023		2024		2023
Other (income) expense, net - currency forward contracts	$	14	$	56	$	43	$	(447)

Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location

As of March 31, 2024, the foreign currency-denominated intercompany loans payable designated as net investment hedges consisted of:


Instrument	Notional (EUR and CNY in thousands)(2)		Notional (USD in thousands)(2)		Maturity
Foreign currency-denominated intercompany loan payable	€	10,147	$	10,967	June 2024
Foreign currency-denominated intercompany loan payable	€	11,007	$	11,897	June 2024
Foreign currency-denominated intercompany loan payable	¥	110,710	$	15,316	November 2024
Foreign currency-denominated intercompany loan payable	¥	109,136	$	15,098	February 2025

(2) Includes principal and accrued interest.

Schedule of Cash Hedges

The following represents gains (losses), net of tax, related to cash flow hedges:


	Three Months Ended March 31,				Nine Months Ended March 31,
(in thousands)	2024		2023		2024		2023
Unrealized gain (loss) recognized in other comprehensive income	$	16	$	—	$	(43)	$	—

No portion of the gains or losses recognized in earnings was due to ineffectiveness and no amounts were excluded from our effectiveness testing for the three months ended March 31, 2024 and 2023.

Goodwill and Other Intangible Assets

9 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

During the three months ended December 31, 2023, the Company completed an immaterial business combination for total consideration of approximately $6.5 million. Goodwill of approximately $3.6 million was recorded in the Metal Cutting segment as a result of the acquisition. A summary of the carrying amount of goodwill attributable to each segment, as well as the changes in such carrying amounts, is as follows:


(in thousands)	Metal Cutting		Infrastructure		Total
Gross goodwill	$	447,212	$	633,211	$	1,080,423
Accumulated impairment losses	(177,661)		(633,211)		(810,872)
Balance as of June 30, 2023	$	269,551	$	—	$	269,551

Activity for the nine months ended March 31, 2024:
Acquisition	3,639		—		3,639
Change in gross goodwill due to translation	(1,039)		—		(1,039)


Gross goodwill	449,812		633,211		1,083,023
Accumulated impairment losses	(177,661)		(633,211)		(810,872)
Balance as of March 31, 2024	$	272,151	$	—	$	272,151


	Estimated Useful Life (in years)	March 31, 2024				June 30, 2023
(in thousands)		Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization

Technology-based and other	4 to 20	$	31,781	$	(24,354)		$	31,872	$	(23,838)
Customer-related	10 to 21	179,759		(118,446)			179,889		(112,890)
Unpatented technology	10 to 30	31,504		(26,718)			31,487		(25,177)
Trademarks	5 to 20	23,160		(12,280)			12,426		(11,441)
Trademarks	Indefinite	—		—			10,836		—
Total		$	266,204	$	(181,798)		$	266,510	$	(173,346)

Earnings Per Share

9 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

EARNINGS PER SHARE

Basic earnings per share is computed using the weighted average number of shares outstanding during the period, while diluted earnings per share is calculated to reflect the potential dilution that would occur related to the issuance of capital stock under stock option grants, performance awards and restricted stock units. The difference between basic and diluted earnings per share relates solely to the effect of capital stock options, performance awards and restricted stock units.

The following table provides the computation of diluted shares outstanding for the three and nine months ended March 31, 2024 and 2023:


	Three Months Ended March 31,		Nine Months Ended March 31,
(in thousands)	2024	2023	2024	2023
Weighted-average shares outstanding during the period	79,229	80,611	79,655	80,967
Add: Unexercised stock options and unvested restricted stock units	620	670	542	558
Number of shares on which diluted earnings per share is calculated	79,849	81,281	80,197	81,525
Unexercised stock options with an exercise price greater than the average market price and restricted stock units not included in the computation because they were anti-dilutive	349	453	420	646

Segment Data - Sales and Operating (Loss) Income by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Segment Reporting Information [Line Items]
Assets	$ 2,518,645		$ 2,518,645		$ 2,547,234
External sales:
Sales	515,794	$ 536,036	1,503,591	$ 1,527,949
Operating (income) loss:
Total operating income	35,227	52,471	108,824	136,487
Interest expense	6,777	7,747	20,225	21,399
Other expense, net	(76)	986	(674)	2,584
Income before income taxes	28,526	43,738	89,273	112,504
Infrastructure [Member]
External sales:
Sales	189,233	202,529	557,354	595,037
Operating (income) loss:
Total operating income	(5,140)	(9,658)	(22,020)	(40,543)
Corporate [Member]
Operating (income) loss:
Total operating income	722	952	1,649	2,649
Metal Cutting
External sales:
Sales	326,561	333,507	946,237	932,912
Operating (income) loss:
Total operating income	$ (30,809)	$ (43,765)	$ (88,453)	$ (98,593)

Derivative Instruments and Hedging Activities

9 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

As part of our financial risk management program, we use certain derivative financial instruments. We do not enter into derivative transactions for speculative purposes and, therefore, we do not hold any derivative instruments for trading purposes. We account for derivative instruments as a hedge of the related asset, liability, firm commitment or anticipated transaction, when the derivative is specifically designated and qualifies as a hedge of such items. Our objective in managing foreign exchange exposures with derivative instruments is to reduce volatility in cash flow. We measure hedge effectiveness by assessing the changes in the fair value or expected future cash flows of the hedged item.

The fair value of derivatives designated and not designated as hedging instruments in the condensed consolidated balance sheets are as follows:


(in thousands)	March 31, 2024		June 30, 2023
Derivatives designated as hedging instruments
Other current assets - range forward contracts	$	126	$	—



Total derivatives designated as hedging instruments	126		—
Derivatives not designated as hedging instruments
Other current assets - currency forward contracts	$	3	$	68
Other current liabilities - currency forward contracts	(10)		(100)
Total derivatives not designated as hedging instruments	(7)		(32)
Total derivatives	$	119	$	(32)

Certain currency forward contracts that hedge significant cross-border intercompany loans are considered as other derivatives and therefore do not qualify for hedge accounting. These contracts are recorded at fair value in the condensed consolidated balance sheets, with the offset to other (income) expense, net. Losses (gains) related to derivatives not designated as hedging instruments have been recognized as follows:


	Three Months Ended March 31,				Nine Months Ended March 31,
(in thousands)	2024		2023		2024		2023
Other (income) expense, net - currency forward contracts	$	14	$	56	$	43	$	(447)

CASH FLOW HEDGES

Range forward contracts (a transaction where both a put option is purchased and a call option is sold) are designated as cash flow hedges and hedge anticipated cash flows from cross-border intercompany sales of products and services. Gains and losses realized on these contracts are recorded in accumulated other comprehensive loss and are recognized as a component of cost of goods sold when the underlying sale of products or services is recognized into earnings. The notional amount of the contracts translated into U.S. dollars at March 31, 2024 was $28.1 million. There were no such contracts outstanding as of June 30, 2023. The time value component of the fair value of range forward contracts is excluded from the assessment of hedge effectiveness.

The following represents gains (losses), net of tax, related to cash flow hedges:


	Three Months Ended March 31,				Nine Months Ended March 31,
(in thousands)	2024		2023		2024		2023
Unrealized gain (loss) recognized in other comprehensive income	$	16	$	—	$	(43)	$	—

No portion of the gains or losses recognized in earnings was due to ineffectiveness and no amounts were excluded from our effectiveness testing for the three months ended March 31, 2024 and 2023.

NET INVESTMENT HEDGES

As of March 31, 2024, we had certain foreign currency-denominated intercompany loans payable with total aggregate principal amounts of €21.2 million and ¥219.8 million, designated as net investment hedges to hedge the foreign exchange exposure of our net investment in our Euro-based and China-based subsidiaries, respectively. As of June 30, 2023, we had no foreign currency-denominated intercompany loans payable designated as net investment hedges. A gain of $0.3 million and a loss of $0.3 million were recorded as a component of foreign currency translation adjustments in other comprehensive (loss) income for the three months ended March 31, 2024 and 2023, respectively. A loss of $0.1 million and a gain of $1.0 million were recorded as a component of foreign currency translation adjustments in other comprehensive (loss) income for the nine months ended March 31, 2024 and 2023, respectively.

As of March 31, 2024, the foreign currency-denominated intercompany loans payable designated as net investment hedges consisted of:


Instrument	Notional (EUR and CNY in thousands)(2)		Notional (USD in thousands)(2)		Maturity
Foreign currency-denominated intercompany loan payable	€	10,147	$	10,967	June 2024
Foreign currency-denominated intercompany loan payable	€	11,007	$	11,897	June 2024
Foreign currency-denominated intercompany loan payable	¥	110,710	$	15,316	November 2024
Foreign currency-denominated intercompany loan payable	¥	109,136	$	15,098	February 2025

(2) Includes principal and accrued interest.

Derivative Instruments and Hedging Activities - Gains and Losses Related to Derivatives Not Designated as Hedging Instruments and to Cash Flow Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax	$ 300	$ 300	$ 100	$ 1,000
Currency Forward Contracts [Member] \| Other Nonoperating Income (Expense) [Member] \| Not Designated as Hedging Instrument [Member]
Derivative Instruments, (Gain) Loss Recognized in Income, Net
Other income, net - currency forward contracts	$ 14	$ 56	$ 43	$ (447)

Inventories (Tables)

9 Months Ended

Mar. 31, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following:


(in thousands)	March 31, 2024		June 30, 2023
Finished goods	$	325,967	$	328,094
Work in process and powder blends	224,160		233,346
Raw materials	84,382		81,552
Inventories at current cost	634,509		642,992
Less: LIFO valuation	(86,855)		(85,362)
Total inventories	$	547,654	$	557,630

Supplemental Cash Flow Disclosures

9 Months Ended

Mar. 31, 2024

Supplemental Cash Flow Elements [Abstract]

SUPPLEMENTAL CASH FLOW DISCLOSURES


	Nine Months Ended March 31,
(in thousands)	2024		2023
Cash paid during the period for:
Interest	$	18,631	$	19,720
Income taxes	32,458		28,012
Supplemental disclosure of non-cash information:
Changes in accounts payable related to purchases of property, plant and equipment	(7,209)		(7,245)

Supplier Finance Program	9 Months Ended
Supplier Finance Program	Mar. 31, 2024
Payables and Accruals [Abstract]
Supplier Finance Program	SUPPLIER FINANCE PROGRAM We have a supplier finance program managed through two global financial institutions under which we agree to pay the financial institutions the stated amount of confirmed invoices from our participating suppliers on the invoice due date. We, or the global financial institutions, may terminate our agreements at any time upon 30 days written notice. We do not provide any forms of guarantees under these agreements. Supplier participation in the program is solely up to the supplier. We have no economic interest in a supplier’s decision to participate in the program, and their participation has no bearing on our payment terms or amounts due. The payment terms that we have with our suppliers under this program are considered commercially reasonable. As of March 31, 2024 and June 30, 2023, the obligations outstanding that the Company has confirmed as valid to the financial institutions under the program were $26.6 million and $20.7 million, respectively, and were recorded within trade accounts payable.

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 8,379	$ 8,759
Accumulated amortization on other intangible assets	$ 181,798	$ 173,346
Preferred stock, par value	$ 0	$ 0
Preferred stock, shares authorized	5,000	5,000
Capital stock, par value	$ 1.25	$ 1.25
Capital stock, shares authorized	120,000	120,000
Capital stock, shares issued	78,663	79,835
Preferred Stock, Shares Issued	0	0
Cash and Cash Equivalents, at Carrying Value	$ 92,119	$ 106,021

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 18,976	$ 31,937	$ 72,141	$ 82,032

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	true
Rule 10b5-1 Arrangement Terminated	true
Non-Rule 10b5-1 Arrangement Terminated	true

Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Mar. 31, 2024

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

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, 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)

The components of, and changes in, AOCL were as follows, net of tax, for the nine months ended March 31, 2023:


(in thousands)	Pension and other postretirement benefits		Currency translation adjustment		Derivatives		Total
Attributable to Kennametal:
Balance, June 30, 2022	$	(208,406)	$	(210,048)	$	4,503	$	(413,951)
Other comprehensive (loss) income before reclassifications	(1,106)		13,903		—		12,797
Amounts reclassified from AOCL	2,480		—		(577)		1,903
Net other comprehensive income (loss)	1,374		13,903		(577)		14,700
AOCL, March 31, 2023	$	(207,032)	$	(196,145)	$	3,926	$	(399,251)

Attributable to noncontrolling interests:
Balance, June 30, 2022	$	—	$	(7,547)	$	—	$	(7,547)
Other comprehensive loss before reclassifications	—		(344)		—		(344)
Net other comprehensive loss	—		(344)		—		(344)
AOCL, March 31, 2023	$	—	$	(7,891)	$	—	$	(7,891)

Reclassification out of Accumulated Other Comprehensive Loss

Reclassifications out of AOCL for the three and nine months ended March 31, 2024 and 2023 consisted of the following:


	Three Months Ended March 31,				Nine Months Ended March 31,
(in thousands)	2024		2023		2024		2023		Affected line item in the Income Statement
(Gains) losses on cash flow hedges:
Forward starting interest rate swaps	$	(255)	$	(255)	$	(766)	$	(766)	Interest expense
Currency exchange contracts	36		—		17		—		Cost of goods sold
Total before tax	(219)		(255)		(749)		(766)
Tax impact	60		63		205		189		Provision for income taxes
Net of tax	$	(159)	$	(192)	$	(544)	$	(577)

Pension and other postretirement benefits:
Amortization of transition obligations	$	19	$	21	$	57	$	62	Other (income) expense, net
Amortization of prior service credit	(64)		(67)		(194)		(199)		Other (income) expense, net
Recognition of actuarial losses	1,477		1,165		4,421		3,458		Other (income) expense, net
Total before tax	1,432		1,119		4,284		3,321
Tax impact	(366)		(277)		(1,093)		(841)		Provision for income taxes
Net of tax	$	1,066	$	842	$	3,191	$	2,480

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, 2024 and 2023 were as follows:


			2024						2023
(in thousands)	Pre-tax		Tax impact		Net of tax		Pre-tax		Tax impact		Net of tax
Unrealized gain on derivatives designated and qualified as cash flow hedges	$	22	$	(6)	$	16	$	—	$	—	$	—
Reclassification of unrealized gain on derivatives designated and qualified as cash flow hedges	(219)		60		(159)		(255)		63		(192)
Unrecognized net pension and other postretirement benefit plans gain (loss)	655		(181)		474		(1,428)		369		(1,059)
Reclassification of net pension and other postretirement benefit plans loss	1,432		(366)		1,066		1,119		(277)		842
Foreign currency translation adjustments	(19,229)		86		(19,143)		13,598		91		13,689

Other comprehensive (loss) income	$	(17,339)	$	(407)	$	(17,746)	$	13,034	$	246	$	13,280

The amount of income tax allocated to each component of other comprehensive (loss) income for the nine months ended March 31, 2024 and 2023 were as follows:


			2024						2023
(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	$	(59)	$	16	$	(43)	$	—	$	—	$	—
Reclassification of unrealized gain on derivatives designated and qualified as cash flow hedges	(749)		205		(544)		(766)		189		(577)
Unrecognized net pension and other postretirement benefit plans gain (loss)	324		(85)		239		(1,512)		406		(1,106)
Reclassification of net pension and other postretirement benefit plans loss	4,284		(1,093)		3,191		3,321		(841)		2,480
Foreign currency translation adjustments	(7,517)		(24)		(7,541)		13,474		85		13,559

Other comprehensive (loss) income	$	(3,717)	$	(981)	$	(4,698)	$	14,517	$	(161)	$	14,356

Supplier Finance Program (Details) - USD ($) $ in Millions	Mar. 31, 2024	Jun. 30, 2023
Payables and Accruals [Abstract]
Supplier Finance Program, Obligation	$ 26.6	$ 20.7

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 92,119	$ 106,021
Accounts receivable, less allowance for doubtful accounts of $8,185 and $8,759, respectively	303,456	307,313
Inventories (Note 9)	547,654	557,630
Other current assets	56,708	55,825
Total current assets	999,937	1,026,789
Property, plant and equipment:
Land and buildings	415,651	416,291
Machinery and equipment	1,997,529	1,951,535
Less accumulated depreciation	(1,465,471)	(1,398,758)
Property, plant and equipment, net	947,709	969,068
Other assets:
Goodwill (Note 17)	272,151	269,551
Other intangible assets, less accumulated amortization of $175,481 and $173,346, respectively (Note 17)	84,406	93,164
Operating lease right-of-use assets	48,179	43,036
Deferred income taxes	71,823	65,519
Other	94,440	80,107
Total other assets	570,999	551,377
Total assets	2,518,645	2,547,234
Current liabilities:
Revolving and other lines of credit and notes payable (Note 11)	12,302	689
Current operating lease liabilities	12,410	11,379
Accounts payable	192,769	203,341
Accrued income taxes	13,682	25,143
Accrued expenses	45,209	55,635
Other current liabilities	136,873	137,788
Total current liabilities	413,245	433,975
Long-term debt, less current maturities (Note 10)	595,778	595,172
Operating lease liabilities	35,954	32,178
Deferred income taxes	31,952	32,062
Accrued pension and postretirement benefits	114,085	115,536
Accrued income taxes	1,486	1,446
Other liabilities	20,251	22,697
Total liabilities	1,212,751	1,233,066
Commitments and contingencies
Kennametal Shareholders' Equity
Preferred stock, no par value; 5,000 shares authorized; none issued	0	0
Capital stock, $1.25 par value; 120,000 shares authorized; 79,818 and 79,835 shares issued, respectively	98,329	99,794
Additional paid-in capital	435,787	465,406
Retained earnings	1,149,034	1,124,590
Accumulated other comprehensive loss	(418,591)	(414,343)
Total Kennametal Shareholders' Equity	1,264,559	1,275,447
Noncontrolling interests	41,335	38,721
Total equity	1,305,894	1,314,168
Total liabilities and equity	$ 2,518,645	$ 2,547,234
Common Stock, Par or Stated Value Per Share	$ 1.25	$ 1.25
Preferred Stock, No Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	5,000	5,000

Stock-Based Compensation (Tables)

9 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Changes in stock options

Changes in our stock options for the nine months ended March 31, 2024 were as follows:


	Options	Weighted Average Exercise Price		Weighted Average Remaining Life (years)	Aggregate Intrinsic Value (in thousands)
Options outstanding, June 30, 2023	217,614	$	37.29

Exercised	—	—
Lapsed or forfeited	(52,304)	45.24
Options outstanding, March 31, 2024	165,310	$	34.78	1.0	$	57
Options vested, March 31, 2024	165,310	$	34.78	1.0	$	57
Options exercisable, March 31, 2024	165,310	$	34.78	1.0	$	57

Changes in time vesting and performance vesting restricted stock units

Changes in our performance vesting and time vesting restricted stock units for the nine months ended March 31, 2024 were as follows:


	Performance Vesting Stock Units	Performance Vesting Weighted Average Fair Value		Time Vesting Stock Units	Time Vesting Weighted Average Fair Value
Unvested, June 30, 2023	483,481	$	31.68	1,207,442	$	30.26
Granted	270,911	25.99		714,334	25.84
Vested	(176,508)	33.49		(610,537)	31.20
Performance metric adjustments, net	37,378	38.45		—	—
Forfeited	(62,801)	32.05		(46,749)	27.53
Unvested, March 31, 2024	552,461	$	28.73	1,264,490	$	27.41

Inventories

9 Months Ended

Mar. 31, 2024

Inventory Disclosure [Abstract]

INVENTORIES

We used the last-in, first-out (LIFO) method of valuing inventories for 33 percent and 33 percent of total inventories at March 31, 2024 and June 30, 2023, respectively. Inventory valuations under the LIFO method are based on an annual determination of quantities and costs as of June 30 of each year; therefore, the interim LIFO valuations are based on our projections of expected year-end inventory levels and costs and are subject to any final year-end LIFO inventory adjustments.

Inventories consisted of the following:


(in thousands)	March 31, 2024		June 30, 2023
Finished goods	$	325,967	$	328,094
Work in process and powder blends	224,160		233,346
Raw materials	84,382		81,552
Inventories at current cost	634,509		642,992
Less: LIFO valuation	(86,855)		(85,362)
Total inventories	$	547,654	$	557,630

Goodwill and Other Intangible Assets - Carrying Amount of Goodwill Attributable to Each Segment (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Jun. 30, 2023
Goodwill [Roll Forward]
Gross goodwill	$ 1,083,023	$ 1,080,423
Accumulated impairment losses	(810,872)	(810,872)
Goodwill, Beginning Balance	269,551
Change in gross goodwill due to translation	(1,039)
Goodwill, Ending Balance	272,151
Business Combination, Price of Acquisition, Expected	3,639
Infrastructure [Member]
Goodwill [Roll Forward]
Gross goodwill	633,211	633,211
Accumulated impairment losses	(633,211)	(633,211)
Goodwill, Beginning Balance	0
Change in gross goodwill due to translation	0
Goodwill, Ending Balance	0
Business Combination, Price of Acquisition, Expected	0
Metal Cutting
Goodwill [Roll Forward]
Gross goodwill	449,812	447,212
Accumulated impairment losses	(177,661)	$ (177,661)
Goodwill, Beginning Balance	269,551
Change in gross goodwill due to translation	(1,039)
Goodwill, Ending Balance	272,151
Business Combination, Price of Acquisition, Expected	$ 3,639

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Accumulated Other Comprehensive Loss Other Comprehensive Income - Income Tax Allocated to Each Component (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Other Comprehensive Income - Income Tax Allocated to Each Component [Abstract]
Unrecognized net pension and other postretirement benefit (loss) gain, before tax	$ 655	$ (1,428)	$ 324	$ (1,512)
Unrecognized net pension and other postretirement benefit (loss) gain, tax	(181)	369	(85)	406
Unrecognized net pension and other postretirement benefit (loss) gain, net of tax	474	(1,059)	239	(1,106)
Reclassification of net pension and other postretirement benefit loss, before tax	1,432	1,119	4,284	3,321
Reclassification of net pension and other postretirement benefit loss, tax	(366)	(277)	(1,093)	(841)
Reclassification of net pension and other postretirement benefit loss	1,066	842	3,191	2,480
Foreign currency translation adjustments, before tax	(19,229)	13,598	(7,517)	13,474
Foreign currency translation adjustments, tax	86	91	(24)	85
Foreign currency translation adjustments, net of tax	(19,143)	13,689	(7,541)	13,559
Other comprehensive income (loss), before tax	(17,339)	13,034	(3,717)	14,517
Other comprehensive income (loss), tax	(407)	246	(981)	(161)
Other comprehensive income (loss), net of tax	(17,746)	13,280	(4,698)	14,356
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	60	63	205	189
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(219)	(255)	(749)	(766)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	159	192	544	577
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	22	0	(59)	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	16	0	(43)	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	$ (6)	$ 0	$ 16	$ 0

Derivative Instruments and Hedging Activities (Details Textual) € in Thousands, ¥ in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 EUR (€)	Mar. 31, 2024 CNY (¥)	Jun. 30, 2023 USD ($)
Derivatives, Fair Value [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	$ 0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	16	$ 0	$ (43)	$ 0
Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative, Amount of Hedged Item					€ 21,200	¥ 219,800	$ 0
Range Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	28,100		28,100				$ 0
Net Investment Hedge Maturing June 2024
Derivatives, Fair Value [Line Items]
Derivative Asset, Notional Amount	10,967,000		10,967,000		10,147,000
Net Investment Hedge Maturing November of 2024
Derivatives, Fair Value [Line Items]
Derivative Asset, Notional Amount	15,316,000		15,316,000			110,710,000
Net Investment Hedge Maturing February 2025
Derivatives, Fair Value [Line Items]
Derivative Asset, Notional Amount	15,098,000		15,098,000			¥ 109,136,000
Net Investment Hedge Maturing June of 2024
Derivatives, Fair Value [Line Items]
Derivative Asset, Notional Amount	11,897,000		11,897,000		€ 11,007,000
Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax	300	300	100	1,000
Cash Flow Hedging [Member] \| Range Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	$ 16	$ 0	$ (43)	$ 0

Supplemental Cash Flow - USD ($) $ in Thousands	9 Months Ended
Supplemental Cash Flow - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Interest	$ 18,631	$ 19,720
Income taxes	32,458	28,012
Change in accounts payable related to purchases of property, plant, and equipment	$ (7,209)	$ (7,245)

Segment Data	9 Months Ended
Segment Data	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	SEGMENT DATA We operate in two reportable segments consisting of Metal Cutting and Infrastructure. Our reportable operating segments have been determined in accordance with our internal management structure, which is organized based on operating activities, the manner in which we organize segments for allocating resources, making operating decisions and assessing performance and the availability of separate financial results. We do not allocate certain corporate expenses related to executive retirement plans, our Board of Directors, strategic initiatives, and certain other costs and report them in Corporate. Our reportable operating segments do not represent the aggregation of two or more operating segments. METAL CUTTING The Metal Cutting segment develops and manufactures high performance tooling and metal cutting products and services and offers an assortment of standard and custom metal cutting solutions to diverse end markets, including Aerospace & Defense, General Engineering, Energy and Transportation. The products include milling, hole making, turning, threading and toolmaking systems used in the manufacture of airframes, aero engines, trucks and automobiles, ships and various types of industrial equipment. We leverage advanced manufacturing capabilities in combination with varying levels of customization to solve our customers’ toughest challenges and deliver improved productivity for a wide range of applications. Metal Cutting markets its products under the Kennametal®, WIDIA®, WIDIA Hanita® and WIDIA GTD® brands through its direct sales force, a network of independent and national distributors, integrated supplier channels and via the Internet. Application engineers and technicians are critical to the sales process and directly assist our customers with specified product design, selection, application and support. INFRASTRUCTURE Our Infrastructure segment produces engineered tungsten carbide and ceramic components, earth-cutting tools, and advanced metallurgical powders, primarily for the Aerospace & Defense, Energy, Earthworks and General Engineering end markets. These wear-resistant products include compacts, nozzles, frac seats and custom components used in oil and gas and petrochemical industries; rod blanks and abrasive water jet nozzles for general industries; earth cutting tools and systems used in underground mining, trenching and foundation drilling and road milling; tungsten carbide powders for the oil and gas, aerospace and process industries; high temperature critical wear components, tungsten penetrators and armor solutions for aerospace and defense; and ceramics used by the packaging industry for metallization of films and papers. We combine deep metallurgical and engineering expertise with advanced manufacturing capabilities, such as 3D printing, to deliver solutions that drive improved productivity for our customers. Infrastructure markets its products primarily under the Kennametal® brand and sells through a direct sales force as well as through distributors.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Cover - shares	9 Months Ended
Cover - shares	Mar. 31, 2024	Apr. 30, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	1-5318
Entity Registrant Name	KENNAMETAL INC.
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	25-0900168
Entity Address, Address Line One	525 William Penn Place
Entity Address, Address Line Two	Suite 3300
Entity Address, City or Town	Pittsburgh,
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15219
City Area Code	412
Local Phone Number	248-8000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		78,665,910
Entity Central Index Key	0000055242
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Capital Stock, par value $1.25 per share \| New York Stock Exchange
Document Information [Line Items]
Title of 12(b) Security	Capital Stock, par value $1.25 per share
Trading Symbol	KMT
Security Exchange Name	NYSE
Preferred Stock Purchase Rights \| New York Stock Exchange
Document Information [Line Items]
Title of 12(b) Security	Preferred Stock Purchase Rights
Security Exchange Name	NYSE
No Trading Symbol Flag	true

Pension and Other Postretirement Benefits - Components of Net Periodic Pension Income (Details) - Pension plans contribution [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Net periodic pension income
Service cost	$ 298	$ 243	$ 888	$ 718
Interest cost	8,901	8,085	26,665	24,127
Expected return on plan assets	(11,156)	(10,045)	(33,442)	(30,054)
Amortization of transition obligation	19	21	57	62
Amortization of prior service cost (credit)	(1)	1	(4)	4
Recognition of actuarial losses	1,442	1,117	4,315	3,314
Net periodic pension income	$ (497)	$ (578)	$ (1,521)	$ (1,829)

Pension and Other Postretirement Benefits - Components of Net Periodic Other Postretirement Benefit Cost (Details) - Other postretirement benefit plans [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Net periodic other postretirement benefit costs
Interest cost	$ 106	$ 104	$ 318	$ 312
Amortization of prior service credit	(63)	(68)	(190)	(203)
Recognition of actuarial loss	35	48	106	144
Net periodic other postretirement benefit cost	$ 78	$ 84	$ 234	$ 253

Environmental Matters (Details) - USD ($) $ in Millions	Mar. 31, 2024	Jun. 30, 2023
Environmental Remediation Obligations [Abstract]
Reserves for Environmental Costs	$ 11.2	$ 12.0
Accrued Environmental Loss Contingencies, Current	$ 1.5	$ 1.7

Stock-Based Compensation (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stock Option [Member]
Stock-Based Compensation (Textual) [Abstract]
Unrecognized compensation cost	$ 0.0
Total Intrinsic value of options exercised	0.0
Proceeds from Stock Options Exercised	0.0
Restricted Stock Units (RSUs) [Member]
Stock-Based Compensation (Textual) [Abstract]
Compensation expense related to time vesting and performance vesting restricted stock units	19.8	$ 17.7
Unrecognized compensation cost	$ 28.0
Unrecognized compensation costs, weighted average period	1 year 8 months 12 days

Restructuring and Related Charges - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 12,259,000		$ 12,259,000		$ 9,885,000
Restructuring and Related Cost, Incurred Cost	6,500,000	$ 0	11,200,000
Restructuring Charges			11,192,000
Proceeds from Sale, Property, Held-for-Sale			600,000
Gain (Loss) on Sale of Properties		$ 1,000,000		$ 2,500,000
Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	2,000,000		3,500,000
Metal Cutting
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	4,500,000		7,700,000
FY24 Restructuring Actions
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	18,600,000		18,600,000
FY24 Restructuring Actions \| Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	4,900,000		4,900,000
FY24 Restructuring Actions \| Metal Cutting
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	13,700,000		13,700,000
FY24 Restructuring Actions-Target
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	25		25
Other Current Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	10,700,000		10,700,000		9,400,000
Other Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 1,600,000		$ 1,600,000		$ 500,000

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.

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Inventories
Finished goods	$ 325,967	$ 328,094
Work in process and powder blends	224,160	233,346
Raw materials	84,382	81,552
Inventories at current cost	634,509	642,992
Less: LIFO valuation	(86,855)	(85,362)
Total inventories	$ 547,654	$ 557,630
Inventories (Textual) [Abstract]
Percentage of inventories valued by using LIFO method	33.00%	33.00%

Basis of Presentation	9 Months Ended
Basis of Presentation	Mar. 31, 2024
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The condensed consolidated financial statements and accompanying notes included in this Quarterly Report on Form 10-Q, which include our accounts and those of our subsidiaries in which we have a controlling interest, should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2023 (the “2023 Annual Report”). The condensed consolidated balance sheet as of June 30, 2023 was derived from the audited balance sheet included in our 2023 Annual Report. The interim statements are unaudited; however, we believe that all adjustments necessary for a fair statement of the results of the interim periods were made and all adjustments are normal recurring adjustments. The results for the nine months ended March 31, 2024 are not necessarily indicative of the results to be expected for a full fiscal year. Unless otherwise specified, any reference to a “year” is to a fiscal year ended June 30. For example, a reference to 2024 is to the fiscal year ending June 30, 2024. When used in this Quarterly Report on Form 10-Q, unless the context requires otherwise, the terms “the Company,” “we,” “our” and “us” refer to Kennametal Inc. and its subsidiaries.