A summary of the changes in the carrying amounts of total equity, Kennametal Shareholders’ equity and equity attributable to noncontrolling interests for the three months ended March 31, 2026 and 2025 is as follows:


	Kennametal Shareholders’ Equity
(in thousands, except per share amounts)	Capital stock		Additional paid-in capital		Retained earnings		Accumulated other comprehensive loss		Non-controlling interests		Total equity
Balance as of December 31, 2025	$	95,238	$	372,839	$	1,228,574	$	(381,614)	$	42,620	$	1,357,657
Net income	—		—		58,229		—		2,894		61,123
Other comprehensive loss	—		—		—		(12,124)		(1,564)		(13,688)
Dividend reinvestment	—		—		—		—		—		—
Capital stock issued under employee benefit and stock plans(2)	24		8,809		—		—		—		8,833

Cash dividends ($0.20 per share)	—		—		(15,241)		—		—		(15,241)
Cash dividends to non-controlling interests	—		—		—		—		(312)		(312)


Total equity, March 31, 2026	$	95,262	$	381,648	$	1,271,562	$	(393,738)	$	43,638	$	1,398,372


	Kennametal Shareholders’ Equity
(in thousands, except per share amounts)	Capital stock		Additional paid-in capital		Retained earnings		Accumulated other comprehensive loss		Non-controlling interests		Total equity
Balance as of December 31, 2024	$	96,661	$	394,394	$	1,179,385	$	(450,460)	$	40,121	$	1,260,101
Net income	—		—		31,482		—		1,600		33,082
Other comprehensive income	—		—		—		21,258		646		21,904
Dividend reinvestment	2		40		—		—		—		42
Capital stock issued under employee benefit and stock plans(2)	49		4,532		—		—		—		4,581
Purchase of capital stock	(1,421)		(23,598)		—		—		—		(25,019)
Cash dividends ($0.20 per share)	—		—		(15,456)		—		—		(15,456)
Cash dividends to non-controlling interests	—		—		—		—		(319)		(319)

Total equity, March 31, 2025	$	95,291	$	375,368	$	1,195,411	$	(429,202)	$	42,048	$	1,278,916

A summary of the changes in the carrying amounts of total equity, Kennametal Shareholders’ equity and equity attributable to noncontrolling interests for the nine months ended March 31, 2026 and 2025 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, 2025	$	95,015	$	373,902	$	1,201,755	$	(386,693)	$	40,669	$	1,324,648
Net income	—		—		115,412		—		5,540		120,952
Other comprehensive loss	—		—		—		(7,045)		(2,259)		(9,304)
Dividend reinvestment	4		73		—		—		—		77
Capital stock issued under employee benefit and stock plans(2)	841		17,143		—		—		—		17,984
Purchase of capital stock	(598)		(9,470)		—		—		—		(10,068)
Cash dividends ($0.60 per share)	—		—		(45,605)		—		—		(45,605)
Cash dividends to non-controlling interests	—		—		—		—		(312)		(312)


Total equity, March 31, 2026	$	95,262	$	381,648	$	1,271,562	$	(393,738)	$	43,638	$	1,398,372


	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, 2024	$	97,361	$	416,620	$	1,170,482	$	(434,588)	$	38,724	$	1,288,599
Net income	—		—		71,533		—		4,052		75,585
Other comprehensive income (loss)	—		—		—		5,386		(409)		4,977
Dividend reinvestment	6		121		—		—		—		127
Capital stock issued under employee benefit and stock plans(2)	755		10,877		—		—		—		11,632
Purchase of capital stock	(2,831)		(52,250)		—		—		—		(55,081)
Cash dividends ($0.60 per share)	—		—		(46,604)		—		—		(46,604)
Cash dividends to non-controlling interests	—		—		—		—		(319)		(319)

Total equity, March 31, 2025	$	95,291	$	375,368	$	1,195,411	$	(429,202)	$	42,048	$	1,278,916