Kennametal (KMT) 10-Q3 Nov 232024 Q1 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	3 Months Ended
Cover - shares	Sep. 30, 2023	Oct. 31, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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)		79,603,305
Entity Central Index Key	0000055242
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
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

Basis of Presentation

Basis of Presentation	3 Months Ended
Basis of Presentation	Sep. 30, 2023
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATIONThe 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 three months ended September 30, 2023 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.

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Sales	$ 492,476	$ 494,792
Cost of goods sold	329,578	334,824
Gross profit	162,898	159,968
Operating expense	111,649	108,278
Restructuring and other charges, net (Note 6)	3,086	0
Amortization of intangibles	3,045	3,164
Operating income	45,118	48,526
Interest expense	6,601	6,638
Other expense, net	89	1,009
Income before income taxes	38,428	40,879
Provision for income taxes	8,059	11,242
Net income	30,369	29,637
Less: Net income attributable to noncontrolling interests	312	1,441
Net income attributable to Kennametal	$ 30,057	$ 28,196
PER SHARE DATA ATTRIBUTABLE TO KENNAMETAL SHAREHOLDERS
Basic earnings per share	$ 0.38	$ 0.35
Diluted earnings per share	0.37	0.34
Dividends per share	$ 0.20	$ 0.20
Basic weighted average shares outstanding	80,025	81,544
Diluted weighted average shares outstanding	80,699	82,165
Noncontrolling Interest [Member]
Net income	$ 312	$ 1,441

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Net income	$ 30,369	$ 29,637
Other comprehensive income (loss), net of tax [Abstract]
Reclassification of unrealized gain on derivatives designated and qualified as cash flow hedges	(192)	(192)
Unrecognized net pension and other postretirement benefit plans gain	1,517	3,324
Reclassification of net pension and other postretirement benefit loss	1,054	806
Foreign currency translation adjustments	(20,188)	(52,949)
Total other comprehensive loss, net of tax	(17,809)	(49,011)
Total comprehensive income (loss)	12,560	(19,374)
Less: comprehensive loss attributable to noncontrolling interests	(326)	(324)
Comprehensive income (loss) attributable to Kennametal Shareholders	12,886	(19,050)
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	63	63
Provision for income taxes	8,059	11,242
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]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	63	63
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	$ (379)	$ (302)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 95,098	$ 106,021
Accounts receivable, less allowance for doubtful accounts of $8,185 and $8,759, respectively	288,655	307,313
Inventories (Note 9)	570,345	557,630
Other current assets	56,457	55,825
Total current assets	1,010,555	1,026,789
Property, plant and equipment:
Land and buildings	412,338	416,291
Machinery and equipment	1,954,536	1,951,535
Less accumulated depreciation	(1,408,628)	(1,398,758)
Property, plant and equipment, net	958,246	969,068
Other assets:
Goodwill (Note 17)	266,582	269,551
Other intangible assets, less accumulated amortization of $175,481 and $173,346, respectively (Note 17)	89,817	93,164
Operating lease right-of-use assets	43,000	43,036
Deferred income taxes	64,453	65,519
Other	80,107	80,107
Total other assets	543,959	551,377
Total assets	2,512,760	2,547,234
Current liabilities:
Revolving and other lines of credit and notes payable (Note 11)	31,179	689
Current operating lease liabilities	11,712	11,379
Accounts payable	197,369	203,341
Accrued income taxes	19,170	25,143
Accrued expenses	42,191	55,635
Other current liabilities	118,225	137,788
Total current liabilities	419,846	433,975
Long-term debt, less current maturities (Note 10)	595,374	595,172
Operating lease liabilities	31,786	32,178
Deferred income taxes	31,410	32,062
Accrued pension and postretirement benefits	112,542	115,536
Accrued income taxes	1,545	1,446
Other liabilities	21,506	22,697
Total liabilities	1,214,009	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	99,773	99,794
Additional paid-in capital	453,385	465,406
Retained earnings	1,138,712	1,124,590
Accumulated other comprehensive loss	(431,512)	(414,343)
Total Kennametal Shareholders' Equity	1,260,358	1,275,447
Noncontrolling interests	38,393	38,721
Total equity	1,298,751	1,314,168
Total liabilities and equity	$ 2,512,760	$ 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

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 8,185	$ 8,759
Accumulated amortization on other intangible assets	$ 175,481	$ 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	79,818	79,835
Preferred Stock, Shares Issued	0	0
Cash and Cash Equivalents, at Carrying Value	$ 95,098	$ 106,021

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
OPERATING ACTIVITIES
Net income	$ 30,369	$ 29,637
Adjustments to reconcile to cash from operations:
Depreciation	30,461	29,459
Amortization	3,045	3,164
Stock-based compensation expense	8,696	8,282
Restructuring and other charges, net (Note 6)	3,087	0
Deferred income taxes	(104)	64
Other	5,623	(2,406)
Changes in certain assets and liabilities:
Accounts receivable	17,937	5,303
Inventories	(20,266)	(38,499)
Accounts payable and accrued liabilities	(32,555)	(42,145)
Accrued income taxes	(11,676)	1,552
Accrued pension and postretirement benefits	(2,925)	(2,482)
Other	(5,981)	(2,677)
Net cash flow provided by (used in) operating activities	25,711	(10,748)
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(31,799)	(29,484)
Disposals of property, plant and equipment	3,048	202
Other	27	(12)
Net cash flow used in investing activities	(28,724)	(29,294)
FINANCING ACTIVITIES
Net increase in notes payable	7,212	3,388
Net increase in revolving and other lines of credit	23,400	60,900
Purchase of capital stock	(13,725)	(19,376)
The effect of employee benefit and stock plans and dividend reinvestment	(7,013)	(4,757)
Cash dividends paid to Shareholders	(15,935)	(16,276)
Other	9	(754)
Net cash flow (used in) provided by financing activities	(6,052)	23,125
Effect of exchange rate changes on cash and cash equivalents	(1,858)	(4,101)
Net decrease in cash and cash equivalents	(10,923)	(21,018)
Cash and cash equivalents, end of period	$ 95,098	$ 64,568

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	3 Months Ended
Supplemental Cash Flow Disclosures	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Three Months Ended September 30, (in thousands) 2023 2022 Cash paid during the period for: Interest $ 5,031 $ 5,143 Income taxes 13,310 9,626 Supplemental disclosure of non-cash information: Changes in accounts payable related to purchases of property, plant and equipment (4,789) (8,708)

Supplemental Cash Flow

Supplemental Cash Flow	3 Months Ended
Supplemental Cash Flow	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Disclosures	Three Months Ended September 30, (in thousands) 2023 2022 Cash paid during the period for: Interest $ 5,031 $ 5,143 Income taxes 13,310 9,626 Supplemental disclosure of non-cash information: Changes in accounts payable related to purchases of property, plant and equipment (4,789) (8,708)

Supplemental Cash Flow_2

Supplemental Cash Flow - USD ($) $ in Thousands	3 Months Ended
Supplemental Cash Flow - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Interest	$ 5,031	$ 5,143
Income taxes	13,310	9,626
Change in accounts payable related to purchases of property, plant, and equipment	$ (4,789)	$ (8,708)

Supplier Finance Program

Supplier Finance Program	3 Months Ended
Supplier Finance Program	Sep. 30, 2023
Payables and Accruals [Abstract]
Supplier Finance Program	SUPPLIER FINANCE PROGRAMWe 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 September 30, 2023 and June 30, 2023, the amount of obligations outstanding that the Company has confirmed as valid to the financial institutions under the program was $24.5 million and $20.7 million, respectively, and was recorded within trade accounts payable.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Sep. 30, 2023
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 September 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) $ — $ 1 $ — $ 1 Total assets at fair value $ — $ 1 $ — $ 1 Liabilities: Derivatives (1) $ — $ 90 $ — $ 90 Total liabilities at fair value $ — $ 90 $ — $ 90 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.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
Derivative Instruments and Hedging Activities	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	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. There were no derivatives designated as hedging instruments as of September 30, 2023 and June 30, 2023. The fair value of derivatives not designated as hedging instruments in the condensed consolidated balance sheets are as follows: (in thousands) September 30, 2023 June 30, 2023 Derivatives not designated as hedging instruments Other current assets - currency forward contracts $ 1 $ 68 Other current liabilities - currency forward contracts (90) (100) Total derivatives not designated as hedging instruments (89) (32) Total derivatives $ (89) $ (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 expense, net. Losses (gains) related to derivatives not designated as hedging instruments have been recognized as follows: Three Months Ended September 30, (in thousands) 2023 2022 Other expense (income), net - currency forward contracts $ 122 $ (306) NET INVESTMENT HEDGES As of September 30, 2023 and June 30, 2023, there were no foreign currency-denominated intercompany loans payable outstanding that were designated as net investment hedges. A gain of $1.7 million was recorded as a component of foreign currency translation adjustments in other comprehensive loss for the three months ended September 30, 2022.

Restructuring and Related Charg

Restructuring and Related Charges	3 Months Ended
Restructuring and Related Charges	Sep. 30, 2023
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 $11.1 million, compared to a target of approximately $20 million, were recorded through September 30, 2023, consisting of $8.5 million in Metal Cutting and $2.6 million in Infrastructure. The majority of the remaining charges are expected to be recognized in fiscal 2024. We recorded restructuring and related charges of $3.7 million for the three months ended September 30, 2023, which consisted of $2.5 million in Metal Cutting and $1.2 million in Infrastructure. Also included in restructuring and other charges, net during the three months ended September 30, 2023 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 months ended September 30, 2022. As of September 30, 2023, $7.7 million and $2.2 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 September 30, 2023 Severance $ 9,885 $ 3,694 $ (229) $ (3,448) $ 9,902 Total $ 9,885 $ 3,694 $ (229) $ (3,448) $ 9,902

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
Stock-Based Compensation	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Stock Options Changes in our stock options for the three months ended September 30, 2023 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, September 30, 2023 165,310 $ 34.78 1.5 $ 56 Options vested, September 30, 2023 165,310 $ 34.78 1.5 $ 56 Options exercisable, September 30, 2023 165,310 $ 34.78 1.5 $ 56 As of September 30, 2023 and June 30, 2023, there was no unrecognized compensation cost related to options outstanding, and all options were fully vested as of September 30, 2023 and 2022. There was no cash received from the exercise of options during the three months ended September 30, 2023 and 2022. The total intrinsic value of options exercised during the three months ended September 30, 2023 and 2022 was zero. Restricted Stock Units – Performance Vesting and Time Vesting Changes in our performance vesting and time vesting restricted stock units for the three months ended September 30, 2023 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 25.99 676,764 25.99 Vested (172,542) 51.63 (528,627) 30.74 Performance metric adjustments, net 37,378 38.45 — — Forfeited (44,998) 50.87 (8,576) 28.10 Unvested, September 30, 2023 574,230 $ 21.94 1,347,003 $ 27.94 During the three months ended September 30, 2023 and 2022, compensation expense related to time vesting and performance vesting restricted stock units was $8.3 million and $7.8 million, respectively. Performance vesting stock units were adjusted by 37,378 units during the three months ended September 30, 2023 related to the fiscal 2023 performance year. As of September 30, 2023, the total unrecognized compensation cost related to unvested time vesting and performance vesting restricted stock units was $38.6 million and is expected to be recognized over a weighted average period of 2.1 years.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	3 Months Ended
Pension and Other Postretirement Benefits	Sep. 30, 2023
Retirement Benefits [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFITS	The table below summarizes the components of net periodic pension income: Three Months Ended September 30, (in thousands) 2023 2022 Service cost $ 297 $ 238 Interest cost 8,907 8,040 Expected return on plan assets (11,161) (10,026) Amortization of transition obligation 19 21 Amortization of prior service cost (1) 2 Recognition of actuarial losses 1,444 1,105 Net periodic pension income $ (495) $ (620) The table below summarizes the components of net periodic other postretirement benefit cost: Three Months Ended September 30, (in thousands) 2023 2022 Interest cost $ 107 $ 104 Amortization of prior service credit (63) (68) Recognition of actuarial loss 34 48 Net periodic other postretirement benefit cost $ 78 $ 84 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 expense, net.

Inventories

Inventories	3 Months Ended
Inventories	Sep. 30, 2023
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES We used the last-in, first-out (LIFO) method of valuing inventories for 33 percent and 33 percent of total inventories at September 30, 2023 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) September 30, 2023 June 30, 2023 Finished goods $ 336,340 $ 328,094 Work in process and powder blends 240,803 233,346 Raw materials 82,898 81,552 Inventories at current cost 660,041 642,992 Less: LIFO valuation (89,696) (85,362) Total inventories $ 570,345 $ 557,630

Long-Term Debt

Long-Term Debt	3 Months Ended
Long-Term Debt	Sep. 30, 2023
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBTFixed rate debt had a fair market value of $519.1 million and $527.4 million at September 30, 2023 and June 30, 2023, respectively. The Level 2 fair value is determined based on the quoted market prices for similar debt instruments as of September 30, 2023 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 September 30, 2023, we were in compliance with all the covenants of the Credit Agreement, and there were $23.4 million of borrowings outstanding and $676.6 million of additional availability. There were no borrowings outstanding as of June 30, 2023.

Environmental Matters

Environmental Matters	3 Months Ended
Environmental Matters	Sep. 30, 2023
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 September 30, 2023, the balance of such accruals was $11.8 million, of which $1.6 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.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Sep. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective income tax rates for the three months ended September 30, 2023 and 2022 were 21.0 percent and 27.5 percent, respectively. The year-over-year change is primarily due to a $6.2 million benefit associated with a change in unrecognized tax benefits which was partially offset by a $2.9 million charge to settle the Italian tax litigation and geographical mix. Italian Income Tax Litigation Settlement In 2012, we received an assessment from the Italian tax authority that denied certain tax deductions primarily related to our 2008 tax return. Attempts at negotiating a reasonable settlement with the tax authority were unsuccessful; and as a result, we decided to litigate the matter which was eventually settled during the current quarter. We continue to believe the assessment was baseless and that our 2008 tax return was compliant, in all material respects, with Italian income tax rules and regulations. Accordingly, no income tax liability had been recorded in connection with this assessment in any period. If the Italian tax authority had been successful in litigation, payment of the assessment amount at its face on September 30, 2023 would have resulted in an increase to income tax expense for as much as €35.7 million, or $37.9 million, of which penalties and interest would have been €21.0 million, or $22.3 million. During fiscal 2023, the Italian government launched a tax amnesty program aimed at reducing the number of tax disputes pending before the Italian courts. Pursuant to program guidelines, payments made to successfully resolve a dispute had to be received by the Italian government no later than September 30, 2023. Due to the prolonged amount of time the case had been pending, and the inherent costs and risks of further litigating the matter, we decided to negotiate a settlement with the Italian tax authority that resulted in an income tax charge of $2.9 million in the current quarter. With this settlement, we consider the matter to be officially closed.

Earnings Per Share

Earnings Per Share	3 Months Ended
Earnings Per Share	Sep. 30, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHAREBasic 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 months ended September 30, 2023 and 2022: Three Months Ended September 30, (in thousands) 2023 2022 Weighted-average shares outstanding during the period 80,025 81,544 Add: Unexercised stock options and unvested restricted stock units 674 621 Number of shares on which diluted earnings per share is calculated 80,699 82,165 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 390 1,249

Equity

Equity	3 Months Ended
Equity	Sep. 30, 2023
Equity [Abstract]
EQUITY	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 ending September 30, 2023 and 2022 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 — — 30,057 312 30,369 Other comprehensive loss — — — (17,169) (640) (17,809) Dividend reinvestment 2 43 — 45 Capital stock issued under employee benefit and stock plans (2) 610 1,028 — 1,638 Purchase of capital stock (633) (13,092) — (13,725) Cash dividends ($0.20 per share) — — (15,935) — — (15,935) Total equity, September 30, 2023 $ 99,773 $ 453,385 $ 1,138,712 $ (431,512) $ 38,393 $ 1,298,751 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 — — 28,196 — 1,441 29,637 Other comprehensive loss — — — (47,246) (1,765) (49,011) Dividend reinvestment 2 44 — — — 46 Capital stock issued under employee benefit and stock plans (2) 454 3,028 — — — 3,482 Purchase of capital stock (1,032) (18,344) — — — (19,376) Cash dividends ($0.20 per share) — — (16,276) — — (16,276) Cash dividends to non-controlling interests — — — — (1,404) (1,404) Total equity, September 30, 2022 $ 101,095 $ 478,930 $ 1,082,575 $ (461,197) $ 36,942 $ 1,238,345 (2) Net of restricted stock units delivered upon vesting to satisfy tax withholding requirements.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
Accumulated Other Comprehensive Loss	Sep. 30, 2023
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 three months ended September 30, 2023: (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 1,517 (19,548) — (18,031) Amounts reclassified from AOCL 1,054 (192) 862 Net other comprehensive income (loss) 2,571 (19,548) (192) (17,169) AOCL, September 30, 2023 $ (212,864) $ (222,189) $ 3,541 $ (431,512) Attributable to noncontrolling interests: Balance, June 30, 2023 $ — $ (8,139) $ — $ (8,139) Other comprehensive loss before reclassifications — (640) — (640) Net other comprehensive loss — (640) — (640) AOCL, September 30, 2023 $ — $ (8,779) $ — $ (8,779) The components of, and changes in, AOCL were as follows, net of tax, for the three months ended September 30, 2022: (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 income (loss) before reclassifications 3,324 (51,184) — (47,860) Amounts reclassified from AOCL 806 — (192) 614 Net other comprehensive income (loss) 4,130 (51,184) (192) (47,246) AOCL, September 30, 2022 $ (204,276) $ (261,232) $ 4,311 $ (461,197) Attributable to noncontrolling interests: Balance, June 30, 2022 $ — $ (7,547) $ — $ (7,547) Other comprehensive loss before reclassifications — (1,765) — (1,765) Net other comprehensive loss — (1,765) — (1,765) AOCL, September 30, 2022 $ — $ (9,312) $ — $ (9,312) Reclassifications out of AOCL for the three months ended September 30, 2023 and 2022 consisted of the following: Three Months Ended September 30, (in thousands) 2023 2022 Affected line item in the Income Statement Gains on cash flow hedges: Forward starting interest rate swaps $ (255) $ (255) Interest expense Total before tax (255) (255) Tax impact 63 63 Provision for income taxes Net of tax $ (192) $ (192) Pension and other postretirement benefits: Amortization of transition obligations $ 19 $ 21 Other income, net Amortization of prior service credit (64) (66) Other income, net Recognition of actuarial losses 1,478 1,153 Other income, net Total before tax 1,433 1,108 Tax impact (379) (302) Provision for income taxes Net of tax $ 1,054 $ 806 The amount of income tax allocated to each component of other comprehensive income (loss) for the three months ended September 30, 2023 and 2022 were as follows: 2023 2022 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Reclassification of unrealized gain on derivatives designated and qualified as cash flow hedges $ (255) $ 63 $ (192) $ (255) $ 63 $ (192) Unrecognized net pension and other postretirement benefit plans gain 2,047 (530) 1,517 4,479 (1,155) 3,324 Reclassification of net pension and other postretirement benefit plans loss 1,433 (379) 1,054 1,108 (302) 806 Foreign currency translation adjustments (20,188) — (20,188) (52,799) (150) (52,949) Other comprehensive loss $ (16,963) $ (846) $ (17,809) $ (47,467) $ (1,544) $ (49,011)

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
Goodwill and Other Intangible Assets	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS 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 three months ended September 30, 2023: Change in gross goodwill due to translation (2,969) — (2,969) Gross goodwill 444,243 633,211 1,077,454 Accumulated impairment losses (177,661) (633,211) (810,872) Balance as of September 30, 2023 $ 266,582 $ — $ 266,582 The components of our other intangible assets were as follows: Estimated September 30, 2023 June 30, 2023 (in thousands) Gross Carrying Accumulated Gross Carrying Accumulated Technology-based and other 4 to 20 $ 31,618 $ (23,769) $ 31,872 $ (23,838) Customer-related 10 to 21 179,286 (114,264) 179,889 (112,890) Unpatented technology 10 to 30 31,467 (25,774) 31,487 (25,177) Trademarks 5 to 20 12,384 (11,674) 12,426 (11,441) Trademarks Indefinite 10,543 — 10,836 — Total $ 265,298 $ (175,481) $ 266,510 $ (173,346)

Segment Data

Segment Data	3 Months Ended
Segment Data	Sep. 30, 2023
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 and 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 and 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.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 30,057	$ 28,196

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2023
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

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Financial instruments at fair value on recurring basis	As of September 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) $ — $ 1 $ — $ 1 Total assets at fair value $ — $ 1 $ — $ 1 Liabilities: Derivatives (1) $ — $ 90 $ — $ 90 Total liabilities at fair value $ — $ 90 $ — $ 90 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.

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
Derivative Instruments and Hedging Activities (Tables)	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of derivatives	(in thousands) September 30, 2023 June 30, 2023 Derivatives not designated as hedging instruments Other current assets - currency forward contracts $ 1 $ 68 Other current liabilities - currency forward contracts (90) (100) Total derivatives not designated as hedging instruments (89) (32) Total derivatives $ (89) $ (32)
(Gains) losses related to derivatives not designated as hedging instruments	Losses (gains) related to derivatives not designated as hedging instruments have been recognized as follows: Three Months Ended September 30, (in thousands) 2023 2022 Other expense (income), net - currency forward contracts $ 122 $ (306)

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
Restructuring (Tables)	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost	As of September 30, 2023, $7.7 million and $2.2 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 September 30, 2023 Severance $ 9,885 $ 3,694 $ (229) $ (3,448) $ 9,902 Total $ 9,885 $ 3,694 $ (229) $ (3,448) $ 9,902

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
Stock-Based Compensation (Tables)	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Changes in stock options	Changes in our stock options for the three months ended September 30, 2023 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, September 30, 2023 165,310 $ 34.78 1.5 $ 56 Options vested, September 30, 2023 165,310 $ 34.78 1.5 $ 56 Options exercisable, September 30, 2023 165,310 $ 34.78 1.5 $ 56
Changes in time vesting and performance vesting restricted stock units	Changes in our performance vesting and time vesting restricted stock units for the three months ended September 30, 2023 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 25.99 676,764 25.99 Vested (172,542) 51.63 (528,627) 30.74 Performance metric adjustments, net 37,378 38.45 — — Forfeited (44,998) 50.87 (8,576) 28.10 Unvested, September 30, 2023 574,230 $ 21.94 1,347,003 $ 27.94

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	3 Months Ended
Pension and Other Postretirement Benefits (Tables)	Sep. 30, 2023
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 September 30, (in thousands) 2023 2022 Service cost $ 297 $ 238 Interest cost 8,907 8,040 Expected return on plan assets (11,161) (10,026) Amortization of transition obligation 19 21 Amortization of prior service cost (1) 2 Recognition of actuarial losses 1,444 1,105 Net periodic pension income $ (495) $ (620)
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 September 30, (in thousands) 2023 2022 Interest cost $ 107 $ 104 Amortization of prior service credit (63) (68) Recognition of actuarial loss 34 48 Net periodic other postretirement benefit cost $ 78 $ 84

Inventories (Tables)

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: (in thousands) September 30, 2023 June 30, 2023 Finished goods $ 336,340 $ 328,094 Work in process and powder blends 240,803 233,346 Raw materials 82,898 81,552 Inventories at current cost 660,041 642,992 Less: LIFO valuation (89,696) (85,362) Total inventories $ 570,345 $ 557,630

Earnings Per Share (Tables) (Ta

Earnings Per Share (Tables) (Tables)	3 Months Ended
Earnings Per Share (Tables) (Tables)	Sep. 30, 2023
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 months ended September 30, 2023 and 2022: Three Months Ended September 30, (in thousands) 2023 2022 Weighted-average shares outstanding during the period 80,025 81,544 Add: Unexercised stock options and unvested restricted stock units 674 621 Number of shares on which diluted earnings per share is calculated 80,699 82,165 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 390 1,249

Equity (Tables)

Equity (Tables)	3 Months Ended
Equity (Tables)	Sep. 30, 2023
Equity [Abstract]
Summary of the changes in the carrying amounts of total equity, Kennametal shareholders' equity and equity attributable to noncontrolling interests	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 ending September 30, 2023 and 2022 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 — — 30,057 312 30,369 Other comprehensive loss — — — (17,169) (640) (17,809) Dividend reinvestment 2 43 — 45 Capital stock issued under employee benefit and stock plans (2) 610 1,028 — 1,638 Purchase of capital stock (633) (13,092) — (13,725) Cash dividends ($0.20 per share) — — (15,935) — — (15,935) Total equity, September 30, 2023 $ 99,773 $ 453,385 $ 1,138,712 $ (431,512) $ 38,393 $ 1,298,751 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 — — 28,196 — 1,441 29,637 Other comprehensive loss — — — (47,246) (1,765) (49,011) Dividend reinvestment 2 44 — — — 46 Capital stock issued under employee benefit and stock plans (2) 454 3,028 — — — 3,482 Purchase of capital stock (1,032) (18,344) — — — (19,376) Cash dividends ($0.20 per share) — — (16,276) — — (16,276) Cash dividends to non-controlling interests — — — — (1,404) (1,404) Total equity, September 30, 2022 $ 101,095 $ 478,930 $ 1,082,575 $ (461,197) $ 36,942 $ 1,238,345 (2) Net of restricted stock units delivered upon vesting to satisfy tax withholding requirements.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
Accumulated Other Comprehensive Loss (Tables)	Sep. 30, 2023
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 three months ended September 30, 2023: (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 1,517 (19,548) — (18,031) Amounts reclassified from AOCL 1,054 (192) 862 Net other comprehensive income (loss) 2,571 (19,548) (192) (17,169) AOCL, September 30, 2023 $ (212,864) $ (222,189) $ 3,541 $ (431,512) Attributable to noncontrolling interests: Balance, June 30, 2023 $ — $ (8,139) $ — $ (8,139) Other comprehensive loss before reclassifications — (640) — (640) Net other comprehensive loss — (640) — (640) AOCL, September 30, 2023 $ — $ (8,779) $ — $ (8,779) The components of, and changes in, AOCL were as follows, net of tax, for the three months ended September 30, 2022: (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 income (loss) before reclassifications 3,324 (51,184) — (47,860) Amounts reclassified from AOCL 806 — (192) 614 Net other comprehensive income (loss) 4,130 (51,184) (192) (47,246) AOCL, September 30, 2022 $ (204,276) $ (261,232) $ 4,311 $ (461,197) Attributable to noncontrolling interests: Balance, June 30, 2022 $ — $ (7,547) $ — $ (7,547) Other comprehensive loss before reclassifications — (1,765) — (1,765) Net other comprehensive loss — (1,765) — (1,765) AOCL, September 30, 2022 $ — $ (9,312) $ — $ (9,312)
Reclassification out of Accumulated Other Comprehensive Loss	Reclassifications out of AOCL for the three months ended September 30, 2023 and 2022 consisted of the following: Three Months Ended September 30, (in thousands) 2023 2022 Affected line item in the Income Statement Gains on cash flow hedges: Forward starting interest rate swaps $ (255) $ (255) Interest expense Total before tax (255) (255) Tax impact 63 63 Provision for income taxes Net of tax $ (192) $ (192) Pension and other postretirement benefits: Amortization of transition obligations $ 19 $ 21 Other income, net Amortization of prior service credit (64) (66) Other income, net Recognition of actuarial losses 1,478 1,153 Other income, net Total before tax 1,433 1,108 Tax impact (379) (302) Provision for income taxes Net of tax $ 1,054 $ 806
Income Tax Allocated to Each Component of Other Comprehensive Income [Table Text Block]	The amount of income tax allocated to each component of other comprehensive income (loss) for the three months ended September 30, 2023 and 2022 were as follows: 2023 2022 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Reclassification of unrealized gain on derivatives designated and qualified as cash flow hedges $ (255) $ 63 $ (192) $ (255) $ 63 $ (192) Unrecognized net pension and other postretirement benefit plans gain 2,047 (530) 1,517 4,479 (1,155) 3,324 Reclassification of net pension and other postretirement benefit plans loss 1,433 (379) 1,054 1,108 (302) 806 Foreign currency translation adjustments (20,188) — (20,188) (52,799) (150) (52,949) Other comprehensive loss $ (16,963) $ (846) $ (17,809) $ (47,467) $ (1,544) $ (49,011)

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
Goodwill and Other Intangible Assets (Tables)	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
The carrying amount of goodwill	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 three months ended September 30, 2023: Change in gross goodwill due to translation (2,969) — (2,969) Gross goodwill 444,243 633,211 1,077,454 Accumulated impairment losses (177,661) (633,211) (810,872) Balance as of September 30, 2023 $ 266,582 $ — $ 266,582
The components of intangible assets	The components of our other intangible assets were as follows: Estimated September 30, 2023 June 30, 2023 (in thousands) Gross Carrying Accumulated Gross Carrying Accumulated Technology-based and other 4 to 20 $ 31,618 $ (23,769) $ 31,872 $ (23,838) Customer-related 10 to 21 179,286 (114,264) 179,889 (112,890) Unpatented technology 10 to 30 31,467 (25,774) 31,487 (25,177) Trademarks 5 to 20 12,384 (11,674) 12,426 (11,441) Trademarks Indefinite 10,543 — 10,836 — Total $ 265,298 $ (175,481) $ 266,510 $ (173,346)

Segment Data (Tables)

Segment Data (Tables)	3 Months Ended
Segment Data (Tables)	Sep. 30, 2023
Segment Reporting [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents Kennametal's revenue disaggregated by geography: Three Months Ended September 30, 2023 September 30, 2022 (in percentages) Metal Cutting Infrastructure Total Kennametal Metal Cutting Infrastructure Total Kennametal Americas 45% 59% 50% 45% 62% 51% EMEA 37 19 30 33 16 27 Asia Pacific 18 22 20 22 22 22 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 and defense" end market, 2.) certain Metal Cutting sales have been reclassified from general engineering to the aerospace and 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 September 30, 2023 (in percentages) Metal Cutting Infrastructure Total Kennametal General engineering 54% 34% 46% Transportation 27 — 17 Aerospace & Defense 12 6 10 Energy 7 22 13 Earthworks — 38 14 Three Months Ended September 30, 2022 (in percentages) Metal Cutting Infrastructure Total Kennametal General engineering 55% 35% 47% Transportation 27 — 16 Aerospace & Defense 11 3 8 Energy 7 25 14 Earthworks — 37 15
Sales and operating income (loss) by segment and segment assets	Our sales and operating income by segment are as follows: Three Months Ended September 30, (in thousands) 2023 2022 Sales: Metal Cutting $ 308,229 $ 299,936 Infrastructure 184,247 194,856 Total sales $ 492,476 $ 494,792 Operating income: Metal Cutting $ 32,117 $ 28,605 Infrastructure 13,644 20,787 Corporate (643) (866) Total operating income 45,118 48,526 Interest expense 6,601 6,638 Other expense, net 89 1,009 Income before income taxes $ 38,428 $ 40,879

Supplier Finance Program (Detai

Supplier Finance Program (Details) - USD ($) $ in Millions	Sep. 30, 2023	Jun. 30, 2023
Payables and Accruals [Abstract]
Supplier Finance Program, Obligation	$ 24.5	$ 20.7

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets	$ 1	$ 68
Total assets at fair value	1	68
Derivatives Liabilities	90	100
Total liabilities at fair value	90	100
Fair Value, Recurring [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets	1	68
Total assets at fair value	1	68
Derivatives Liabilities	90	100
Total liabilities at fair value	$ 90	$ 100

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Fair Value of Derivatives Designated and Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Fair value of derivatives
Derivative, Fair Value, Net	$ (89)	$ (32)
Not Designated as Hedging Instrument [Member]
Fair value of derivatives
Derivative, Fair Value, Net	(89)	(32)
Currency Forward Contracts [Member] \| Not Designated as Hedging Instrument [Member] \| Other Current Assets [Member]
Fair value of derivatives
Derivative assets designated as hedging instruments	1	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	$ (90)	$ (100)

Derivative Instruments and He_4

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
	Sep. 30, 2023	Sep. 30, 2022
Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax		$ 1,700
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	$ 122	$ (306)

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2023
Derivatives, Fair Value [Line Items]
Derivative, Amount of Hedged Item		$ 0
Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax	$ 1.7

Restructuring and Related Cha_2

Restructuring and Related Charges - Restructuring Accrual (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2023 USD ($)
Restructuring Reserve [Abstract]
Beginning Balance	$ 9,885
Restructuring Charges	3,694
Translation	(229)
Cash Expenditures	(3,448)
Ending Balance	9,902
Severance [Member]
Restructuring Reserve [Abstract]
Beginning Balance	9,885
Restructuring Charges	3,694
Translation	(229)
Cash Expenditures	(3,448)
Ending Balance	$ 9,902

Restructuring and Related Cha_3

Restructuring and Related Charges - Narrative (Details) - USD ($)	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 9,902,000		$ 9,885,000
Restructuring and Related Cost, Incurred Cost	3,700,000	$ 0
Restructuring Charges	3,694,000
Proceeds from Sale, Property, Held-for-Sale	600,000
Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	1,200,000
Metal Cutting
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	2,500,000
FY24 Restructuring Actions
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	11,100,000
FY24 Restructuring Actions \| Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	2,600,000
FY24 Restructuring Actions \| Metal Cutting
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	8,500,000
FY24 Restructuring Actions-Target
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	20
Other Current Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	7,700,000		9,400,000
Other Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 2,200,000		$ 500,000

Stock-Based Compensation - Chan

Stock-Based Compensation - Changes in Stock Options (Details)	3 Months Ended
	Sep. 30, 2023 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
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 6 months
Aggregate Intrinsic value, Options outstanding, Ending \| $	$ 56,000
Aggregate Intrinsic Value, Options vested and expected to vest, Ending \| $	56,000
Aggregate Intrinsic Value, Options exercisable, Ending \| $	$ 56,000

Stock-Based Compensation - Ch_2

Stock-Based Compensation - Changes in Restricted Stock Units (Details)	3 Months Ended
	Sep. 30, 2023 $ / 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	(172,542)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations \| shares	37,378
Forfeited, Shares \| shares	(44,998)
Unvested restricted stock awards, Ending \| shares	574,230
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	51.63
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	50.87
Weighted Average Fair Value, Unvested restricted stock awards, Ending \| $ / shares	$ 21.94
Restricted Stock Units - Time Vesting [Member]
Changes in restricted stock awards
Unvested restricted stock awards, Beginning \| shares	1,207,442
Granted, Shares \| shares	676,764
Vested, Shares \| shares	(528,627)
Performance metric adjustments, net, Shares \| shares	0
Forfeited, Shares \| shares	(8,576)
Unvested restricted stock awards, Ending \| shares	1,347,003
Weighted Average Fair Value, Unvested restricted stock awards, Beginning \| $ / shares	$ 30.26
Weighted Average Fair Value, Granted \| $ / shares	25.99
Weighted Average Fair Value, Vested \| $ / shares	30.74
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	28.10
Weighted Average Fair Value, Unvested restricted stock awards, Ending \| $ / shares	$ 27.94

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Stock Option [Member]
Stock-Based Compensation (Textual) [Abstract]
Unrecognized compensation cost	$ 0
Total Intrinsic value of options exercised	0
Proceeds from Stock Options Exercised	0
Restricted Stock Units (RSUs) [Member]
Stock-Based Compensation (Textual) [Abstract]
Compensation expense related to time vesting and performance vesting restricted stock units	8.3	$ 7.8
Unrecognized compensation cost	$ 38.6
Unrecognized compensation costs, weighted average period	2 years 1 month 6 days

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits - Components of Net Periodic Pension Income (Details) - Pension plans contribution [Member] - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Net periodic pension income
Service cost	$ 297	$ 238
Interest cost	8,907	8,040
Expected return on plan assets	(11,161)	(10,026)
Amortization of transition obligation	19	21
Amortization of prior service cost (credit)	(1)	2
Recognition of actuarial losses	1,444	1,105
Net periodic pension income	$ (495)	$ (620)

Pension and Other Postretirem_4

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
	Sep. 30, 2023	Sep. 30, 2022
Net periodic other postretirement benefit costs
Interest cost	$ 107	$ 104
Amortization of prior service credit	(63)	(68)
Recognition of actuarial loss	34	48
Net periodic other postretirement benefit cost	$ 78	$ 84

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
Inventories
Finished goods	$ 336,340	$ 328,094
Work in process and powder blends	240,803	233,346
Raw materials	82,898	81,552
Inventories at current cost	660,041	642,992
Less: LIFO valuation	(89,696)	(85,362)
Total inventories	$ 570,345	$ 557,630
Inventories (Textual) [Abstract]
Percentage of inventories valued by using LIFO method	33%	33%

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	Sep. 30, 2023	Jun. 30, 2023	Jun. 07, 2018
Long-Term Debt (Additional Textual) [Abstract]
Fixed rate at fair market value	$ 519,100,000	$ 527,400,000
Notes Payable	7,800,000	700,000
2018 Credit Agreement [Member]
Long-Term Debt (Textual) [Abstract]
Line of Credit Facility, Remaining Borrowing Capacity	676,600,000
Borrowing outstanding under 2018 Credit Agreement	23,400,000	$ 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

Environmental Matters (Details)

Environmental Matters (Details) - USD ($) $ in Millions	Sep. 30, 2023	Jun. 30, 2023
Environmental Remediation Obligations [Abstract]
Reserves for Environmental Costs	$ 11.8	$ 12
Accrued Environmental Loss Contingencies, Current	$ 1.6	$ 1.7

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
Income Taxes (Details)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 EUR (€)	Sep. 30, 2022
Income Taxes - Additional Information [Line Items]
Unrecognized Tax Benefits	$ 6.2
Litigation Settlement [Abstract]
Litigation Settlement, Expense	$ 2.9
Income Tax (Textual) [Abstract]
Effective tax rate	21%	21%	27.50%
ITALY
Income Taxes - Additional Information [Line Items]
Income Tax Examination, Estimate of Possible Loss	$ 37.9	€ 35.7
Income Tax Examination, Penalties Accrued	0
ITALY \| Penalties and Interest
Income Taxes - Additional Information [Line Items]
Income Tax Examination, Estimate of Possible Loss	$ 22.3	€ 21

Earnings Per Shares (Details)

Earnings Per Shares (Details) - shares shares in Thousands	3 Months Ended
Earnings Per Shares (Details) - shares shares in Thousands	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted Average Number of Shares Outstanding, Basic	80,025	81,544
Earnings Per Share (Textual) [Abstract]
Increase in weighted average shares due to dilutive effect of unexercised capital stock options and unvested restricted stock units	674	621
Weighted Average Number of Shares Outstanding, Diluted	80,699	82,165
Unexercised capital stock options and restricted stock units excluded from computation of diluted EPS	390	1,249

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended
Equity (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Beginning Balance	$ 1,314,168	$ 1,291,247
Net income	30,369	29,637
Other comprehensive income (loss)	(17,809)	(49,011)
Dividend reinvestment	45	46
Capital stock issued under employee benefit and stock plans	1,638	3,482
Purchase of capital stock	(13,725)	(19,376)
Cash dividends	(15,935)	(16,276)
Ending Balance	1,298,751	1,238,345
Capital stock [Member]
Beginning Balance	99,794	101,671
Dividend reinvestment	2	2
Capital stock issued under employee benefit and stock plans	610	454
Purchase of capital stock	(633)	(1,032)
Ending Balance	99,773	101,095
Additional paid-in capital [Member]
Beginning Balance	465,406	494,202
Dividend reinvestment	43	44
Capital stock issued under employee benefit and stock plans	1,028	3,028
Purchase of capital stock	(13,092)	(18,344)
Ending Balance	453,385	478,930
Retained earnings [Member]
Beginning Balance	1,124,590	1,070,655
Net income	30,057	28,196
Cash dividends	(15,935)	(16,276)
Ending Balance	1,138,712	1,082,575
Accumulated other comprehensive loss [Member]
Beginning Balance	(414,343)	(413,951)
Other comprehensive income (loss)	(17,169)	(47,246)
Ending Balance	(431,512)	(461,197)
Non-controlling interest [Member]
Beginning Balance	38,721	38,670
Net income	312	1,441
Other comprehensive income (loss)	(640)	(1,765)
Cash dividends		(1,404)
Ending Balance	$ 38,393	$ 36,942

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Components of and Changes in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax	$ (414,343)	$ (413,951)
Other comprehensive (loss) income before reclassifications	(18,031)	(47,860)
Amounts reclassified from accumulated other comprehensive loss	862	614
Net current period other comprehensive (loss) income	(17,169)	(47,246)
Accumulated Other Comprehensive Loss, Net of Tax	(431,512)	(461,197)
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	1,517	3,324
Amounts reclassified from accumulated other comprehensive loss	1,054	806
Net current period other comprehensive (loss) income	2,571	4,130
Accumulated Other Comprehensive Loss, Net of Tax	(212,864)	(204,276)
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	(19,548)	(51,184)
Amounts reclassified from accumulated other comprehensive loss		0
Net current period other comprehensive (loss) income	(19,548)	(51,184)
Accumulated Other Comprehensive Loss, Net of Tax	(222,189)	(261,232)
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	0	0
Amounts reclassified from accumulated other comprehensive loss	(192)	(192)
Net current period other comprehensive (loss) income	(192)	(192)
Accumulated Other Comprehensive Loss, Net of Tax	3,541	4,311
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	(640)	(1,765)
Net current period other comprehensive (loss) income	(640)	(1,765)
Accumulated Other Comprehensive Loss, Net of Tax	(8,779)	(9,312)
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	(1,433)	(1,108)
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	$ 255	$ 255

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Loss [Line Items]
Currency exchange contracts	$ (89)	$ (1,009)
Recognition of actuarial losses	1,433	1,108
Provision for income taxes	8,059	11,242
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(255)	(255)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	63	63
Reclassification of unrealized gain on derivatives designated and qualified as cash flow hedges	(192)	(192)
Unrecognized net pension and other postretirement benefit (loss) gain, before tax	2,047	4,479
Unrecognized net pension and other postretirement benefit (loss) gain, tax	(530)	(1,155)
Unrecognized net pension and other postretirement benefit plans gain	1,517	3,324
Reclassification of net pension and other postretirement benefit loss, tax	(379)	(302)
Reclassification of net pension and other postretirement benefit loss	1,054	806
Foreign currency translation adjustments, before tax	(20,188)	(52,799)
Foreign currency translation adjustments, tax	0	(150)
Foreign currency translation adjustments	(20,188)	(52,949)
Other comprehensive income (loss), before tax	(16,963)	(47,467)
Other comprehensive income (loss), tax	(846)	(1,544)
Other comprehensive income (loss), net of tax	(17,809)	(49,011)
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	(255)	(255)
Net of tax	(192)	(192)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	63	63
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
Amortization of prior service credit	(64)	(66)
Recognition of actuarial losses	1,478	1,153
Total before tax	1,433	1,108
Provision for income taxes	(379)	(302)
Net of tax	(1,054)	(806)
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)

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Loss Other Comprehensive Income - Income Tax Allocated to Each Component (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Other Comprehensive Income - Income Tax Allocated to Each Component [Abstract]
Unrecognized net pension and other postretirement benefit (loss) gain, before tax	$ 2,047	$ 4,479
Unrecognized net pension and other postretirement benefit (loss) gain, tax	(530)	(1,155)
Unrecognized net pension and other postretirement benefit (loss) gain, net of tax	1,517	3,324
Reclassification of net pension and other postretirement benefit loss, before tax	1,433	1,108
Reclassification of net pension and other postretirement benefit loss, tax	(379)	(302)
Reclassification of net pension and other postretirement benefit loss	1,054	806
Foreign currency translation adjustments, before tax	(20,188)	(52,799)
Foreign currency translation adjustments, tax	0	(150)
Foreign currency translation adjustments, net of tax	(20,188)	(52,949)
Other comprehensive income (loss), before tax	(16,963)	(47,467)
Other comprehensive income (loss), tax	(846)	(1,544)
Other comprehensive income (loss), net of tax	(17,809)	(49,011)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	63	63
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(255)	(255)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	$ 192	$ 192

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Carrying Amount of Goodwill Attributable to Each Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023
Goodwill [Roll Forward]
Gross goodwill	$ 1,077,454	$ 1,080,423
Accumulated impairment losses	(810,872)	(810,872)
Goodwill, Beginning Balance	269,551
Change in gross goodwill due to translation	(2,969)
Goodwill, Ending Balance	266,582
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
Metal Cutting
Goodwill [Roll Forward]
Gross goodwill	444,243	447,212
Accumulated impairment losses	(177,661)	$ (177,661)
Goodwill, Beginning Balance	269,551
Change in gross goodwill due to translation	(2,969)
Goodwill, Ending Balance	$ 266,582

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Components of Other Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023
The components of intangible assets
Accumulated amortization	$ (175,481)	$ (173,346)
Intangible Assets, Gross (Excluding Goodwill)	265,298	266,510
Trademarks [Member]
The components of intangible assets
Gross carrying amount, Indefinite	10,543	10,836
Technology-based and other [Member]
The components of intangible assets
Gross carrying amount, finite	31,618	31,872
Accumulated amortization	(23,769)	(23,838)
Customer-related [Member]
The components of intangible assets
Gross carrying amount, finite	179,286	179,889
Accumulated amortization	(114,264)	(112,890)
Unpatented technology [Member]
The components of intangible assets
Gross carrying amount, finite	31,467	31,487
Accumulated amortization	(25,774)	(25,177)
Trademarks [Member]
The components of intangible assets
Gross carrying amount, finite	12,384	12,426
Accumulated amortization	$ (11,674)	$ (11,441)
Minimum [Member] \| Technology-based and other [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	4 years
Minimum [Member] \| Customer-related [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	10 years
Minimum [Member] \| Unpatented technology [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	10 years
Minimum [Member] \| Trademarks [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	5 years
Maximum [Member] \| Technology-based and other [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	20 years
Maximum [Member] \| Customer-related [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	21 years
Maximum [Member] \| Unpatented technology [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	30 years
Maximum [Member] \| Trademarks [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	20 years

Segment Data - Sales and Operat

Segment Data - Sales and Operating (Loss) Income by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023
Segment Reporting Information [Line Items]
Assets	$ 2,512,760		$ 2,547,234
External sales:
Sales	492,476	$ 494,792
Operating (income) loss:
Total operating income	45,118	48,526
Interest expense	6,601	6,638
Other expense, net	89	1,009
Income before income taxes	38,428	40,879
Infrastructure [Member]
External sales:
Sales	184,247	194,856
Operating (income) loss:
Total operating income	(13,644)	(20,787)
Corporate [Member]
Operating (income) loss:
Total operating income	643	866
Metal Cutting
External sales:
Sales	308,229	299,936
Operating (income) loss:
Total operating income	$ (32,117)	$ (28,605)

Segment Data Disaggregation of

Segment Data Disaggregation of Revenue (Details)	3 Months Ended
Segment Data Disaggregation of Revenue (Details)	Sep. 30, 2023	Sep. 30, 2022
General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	46%	47%
Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	17%	16%
Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	10%	8%
Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	13%	14%
Earthworks [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	14%	15%
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	50%	51%
EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	30%	27%
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	20%	22%
Infrastructure [Member] \| General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	34%	35%
Infrastructure [Member] \| Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	0%	0%
Infrastructure [Member] \| Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	6%	3%
Infrastructure [Member] \| Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	22%	25%
Infrastructure [Member] \| Earthworks [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	38%	37%
Infrastructure [Member] \| Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	59%	62%
Infrastructure [Member] \| EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	19%	16%
Infrastructure [Member] \| Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	22%	22%
Metal Cutting \| General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	54%	55%
Metal Cutting \| Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	27%	27%
Metal Cutting \| Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	12%	11%
Metal Cutting \| Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	7%	7%
Metal Cutting \| Earthworks [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	0%	0%
Metal Cutting \| Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	45%	45%
Metal Cutting \| EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	37%	33%
Metal Cutting \| Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	18%	22%

Uncategorized Items - kmt-20230

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