| 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 six months ended December 31, 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 (loss) income before reclassifications | (47) | | 568 | | — | | 521 | | | Amounts reclassified from AOCL | 1,639 | | — | | (385) | | 1,254 | | | Net other comprehensive income (loss) | 1,592 | | 568 | | (385) | | 1,775 | | AOCL, December 31, 2022 | $ | (206,814) | | $ | (209,480) | | $ | 4,118 | | $ | (412,176) | | | | | | | | Attributable to noncontrolling interests: | | | | | Balance, June 30, 2022 | $ | — | | $ | (7,547) | | $ | — | | $ | (7,547) | | | Other comprehensive loss before reclassifications | — | | (698) | | — | | (698) | | | Net other comprehensive loss | — | | (698) | | — | | (698) | | AOCL, December 31, 2022 | $ | — | | $ | (8,245) | | $ | — | | $ | (8,245) | |
The components of, and changes in, AOCL were as follows, net of tax, for the six months ended December 31, 2021: | | | | | | | | | | | | | | | | (in thousands) | Pension and other postretirement benefits | Currency translation adjustment | Derivatives | Total | | Attributable to Kennametal: | | | | | Balance, June 30, 2021 | $ | (213,172) | | $ | (122,428) | | $ | 5,273 | | $ | (330,327) | | | Other comprehensive income (loss) before reclassifications | 2,781 | | (25,653) | | — | | (22,872) | | | Amounts reclassified from AOCL | 4,416 | | — | | (385) | | 4,031 | | | Net other comprehensive income (loss) | 7,197 | | (25,653) | | (385) | | (18,841) | | AOCL, December 31, 2021 | $ | (205,975) | | $ | (148,081) | | $ | 4,888 | | $ | (349,168) | | | | | | | | Attributable to noncontrolling interests: | | | | | Balance, June 30, 2021 | $ | — | | $ | (3,982) | | $ | — | | $ | (3,982) | | | Other comprehensive loss before reclassifications | — | | (904) | | — | | (904) | | | Net other comprehensive loss | — | | (904) | | — | | (904) | | AOCL, December 31, 2021 | $ | — | | $ | (4,886) | | $ | — | | $ | (4,886) | |
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| Reclassification out of Accumulated Other Comprehensive Loss |
Reclassifications out of AOCL for the three and six months ended December 31, 2022 and 2021 consisted of the following: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended December 31, | Six Months Ended December 31, | | | | (in thousands) | 2022 | | 2021 | 2022 | | 2021 | | Affected line item in the Income Statement | | Gains on cash flow hedges: | | | | | | | | | | Forward starting interest rate swaps | $ | (255) | | | $ | (255) | | $ | (511) | | | $ | (511) | | | Interest expense | | | | | | | | | | | Total before tax | (255) | | | (255) | | (511) | | | (511) | | | | | Tax impact | 63 | | | 63 | | 126 | | | 126 | | | Provision for income taxes | | Net of tax | $ | (192) | | | $ | (192) | | $ | (385) | | | $ | (385) | | | | | | | | | | | | | | Pension and other postretirement benefits: | | | | | | | | | | Amortization of transition obligations | $ | 20 | | | $ | 24 | | $ | 41 | | | $ | 48 | | | Other income, net | | Amortization of prior service credit | (66) | | | (66) | | (132) | | | (133) | | | Other income, net | | Recognition of actuarial losses | 1,140 | | | 3,015 | | 2,293 | | | 6,059 | | | Other income, net | | Total before tax | 1,094 | | | 2,973 | | 2,202 | | | 5,974 | | | | | Tax impact | (262) | | | (772) | | (563) | | | (1,558) | | | Provision for income taxes | | Net of tax | $ | 832 | | | $ | 2,201 | | $ | 1,639 | | | $ | 4,416 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| 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 December 31, 2022 and 2021 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2022 | | | | | 2021 | | | (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 (loss) gain | (4,564) | | 1,193 | | (3,371) | | | | 1,232 | | (356) | | 876 | | | Reclassification of net pension and other postretirement benefit plans loss | 1,094 | | (262) | | 832 | | | | 2,973 | | (772) | | 2,201 | | | Foreign currency translation adjustments | 52,675 | | 144 | | 52,819 | | | | (10,062) | | (19) | | (10,081) | | | | | | | | | | | | Other comprehensive income (loss) | $ | 48,950 | | $ | 1,138 | | $ | 50,088 | | | | $ | (6,112) | | $ | (1,084) | | $ | (7,196) | |
The amount of income tax allocated to each component of other comprehensive income (loss) for the six months ended December 31, 2022 and 2021 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2022 | | | | | 2021 | | | (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 | $ | (511) | | $ | 126 | | $ | (385) | | | | $ | (511) | | $ | 126 | | $ | (385) | | | Unrecognized net pension and other postretirement benefit plans (loss) gain | (85) | | 38 | | (47) | | | | 3,831 | | (1,050) | | 2,781 | | | Reclassification of net pension and other postretirement benefit plans loss | 2,202 | | (563) | | 1,639 | | | | 5,974 | | (1,558) | | 4,416 | | | Foreign currency translation adjustments | (124) | | (6) | | (130) | | | | (26,519) | | (38) | | (26,557) | | | | | | | | | | | | Other comprehensive income (loss) | $ | 1,482 | | $ | (405) | | $ | 1,077 | | | | $ | (17,225) | | $ | (2,520) | | $ | (19,745) | |
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