Kennametal (KMT) 10-Q 4 Nov 15 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2015	Oct. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	KENNAMETAL INC.
Entity Central Index Key	55,242
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		79,608,177

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Sales	$ 555,354	$ 694,941
Cost of goods sold	404,130	476,842
Gross profit	151,224	218,099
Operating expense	129,243	148,488
Restructuring charges (Note 7)	9,120	1,563
Amortization of intangibles	6,247	7,027
Operating income	6,614	61,021
Interest expense	6,979	8,210
Other expense (income), net	1,087	(1,813)
(Loss) income before income taxes	(1,452)	54,624
Provision for income taxes	4,252	14,497
Net (loss) income	(5,704)	40,127
Less: Net income attributable to noncontrolling interests	522	639
Net (loss) income attributable to Kennametal	$ (6,226)	$ 39,488
PER SHARE DATA ATTRIBUTABLE TO KENNAMETAL SHAREHOLDERS
Basic (loss) earnings per share	$ (0.08)	$ 0.50
Diluted (loss) earnings per share	(0.08)	0.49
Dividends per share	$ 0.20	$ 0.18
Basic weighted average shares outstanding	79,728	79,114
Diluted weighted average shares outstanding	79,728	79,933

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (5,704)	$ 40,127
Other comprehensive loss, net of tax [Abstract]
Unrealized gain on derivatives designated and qualified as cash flow hedges	525	1,507
Reclassification of unrealized (gain) loss on expired derivatives designated and qualified as cash flow hedges	(1,766)	364
Unrecognized net pension and other postretirement benefit gain	999	3,641
Reclassification of net pension and other postretirement benefit loss	1,219	754
Foreign currency translation adjustments	(18,849)	(51,513)
Total other comprehensive loss, net of tax	(17,872)	(45,247)
Total comprehensive loss	(23,576)	(5,120)
Comprehensive loss attributable to noncontrolling interests	(17)	(853)
Comprehensive loss attributable to Kennametal Shareholders	$ (23,559)	$ (4,267)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
Current assets:
Cash and cash equivalents	$ 97,199	$ 105,494
Accounts receivable, less allowance for doubtful accounts of $13,054 and $13,560, respectively	401,121	445,373
Inventories (Note 10)	549,608	575,531
Deferred income taxes	58,380	72,449
Other current assets	62,203	59,699
Total current assets	1,168,511	1,258,546
Property, plant and equipment:
Land and buildings	399,632	401,207
Machinery and equipment	1,572,280	1,573,597
Less accumulated depreciation	(1,171,338)	(1,158,979)
Property, plant and equipment, net	800,574	815,825
Other assets:
Investments in affiliated companies	288	361
Goodwill (Note 17)	415,080	417,389
Other intangible assets, less accumulated amortization of $158,292 and $153,370, respectively (Note 17)	278,188	286,669
Deferred income taxes	23,462	24,091
Other	65,937	46,648
Total other assets	782,955	775,158
Total assets	2,752,040	2,849,529
Current liabilities:
Current maturities of long-term debt and capital leases	17,496	8,129
Notes payable to banks	7,789	7,573
Accounts payable	177,736	187,381
Accrued income taxes	12,326	25,237
Accrued expenses	59,878	75,746
Other current liabilities	163,181	178,678
Total current liabilities	438,406	482,744
Long-term debt and capital leases, less current maturities (Note 11)	725,548	735,885
Deferred income taxes	60,120	59,744
Accrued pension and postretirement benefits	155,981	163,029
Accrued income taxes	2,997	3,002
Other liabilities	29,899	29,690
Total liabilities	$ 1,412,951	$ 1,474,094
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; 79,607 and 79,375 shares issued, respectively	99,508	99,219
Additional paid-in capital	422,685	419,829
Retained earnings	1,048,141	1,070,282
Accumulated other comprehensive loss	(260,856)	(243,523)
Total Kennametal Shareholders' Equity	1,309,478	1,345,807
Noncontrolling interests	29,611	29,628
Total equity	1,339,089	1,375,435
Total liabilities and equity	$ 2,752,040	$ 2,849,529

CONDENSED CONSOLIDATED BALANCE5

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 13,054	$ 13,560
Accumulated amortization on other intangible assets	$ 158,292	$ 153,370
Preferred stock, par value	$ 0	$ 0
Preferred stock, shares authorized	5,000	5,000
Preferred stock, shares issued	0	0
Capital stock, par value	$ 1.25	$ 1.25
Capital stock, shares authorized	120,000	120,000
Capital stock, shares issued	79,607	79,375

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
OPERATING ACTIVITIES
Net (loss) income	$ (5,704)	$ 40,127
Adjustments for non-cash items:
Depreciation	25,312	27,345
Amortization	6,247	7,027
Stock-based compensation expense	7,016	9,909
Restructuring charges: asset write-down (Note 7)	(3,049)	(117)
Deferred income tax provision	14,381	1,296
Other	7,141	5,656
Changes in certain assets and liabilities:
Accounts receivable	35,481	26,189
Inventories	20,288	(30,007)
(Decrease) Increase in Accounts Payable and Accrued Liabilities	(27,813)	(37,249)
Accrued income taxes	(28,597)	927
Accrued pension and postretirement benefits	(11,416)	(4,731)
Other	(6,678)	4,346
Net cash flow provided by operating activities	38,707	50,952
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(37,217)	(30,802)
Disposals of property, plant and equipment	1,933	619
Other	(72)	141
Net cash flow used for investing activities	(35,356)	(30,042)
FINANCING ACTIVITIES
Net increase in notes payable	386	28,427
Net increase in short-term revolving and other lines of credit	9,600	6,700
Term debt borrowings	16,618	21,988
Term debt repayments	(27,337)	(88,555)
Purchase of capital stock	(80)	(79)
Dividend reinvestment and the effect of employee benefit and stock plans	401	6,380
Cash dividends paid to shareholders	(15,915)	(14,212)
Other	4,075	(841)
Net cash flow used for financing activities	(12,252)	(40,192)
Effect of exchange rate changes on cash and cash equivalents	606	(2,453)
CASH AND CASH EQUIVALENTS
Net decrease in cash and cash equivalents	(8,295)	(21,735)
Cash and cash equivalents, beginning of period	105,494	177,929
Cash and cash equivalents, end of period	$ 97,199	$ 156,194

Organization

Organization	3 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Kennametal Inc. was incorporated in Pennsylvania in 1943. Kennametal Inc. and its subsidiaries (collectively, Kennametal or the Company) are a leading global manufacturer and supplier of tooling, engineered components and advanced materials consumed in production processes. We believe that our reputation for manufacturing excellence, as well as our technological expertise and innovation we deliver in our products and services, helps us to achieve a leading position in our primary markets. End users of our products include metalworking and machinery manufacturers and suppliers across a diverse array of industries, including the aerospace, defense, transportation, machine tool, light machinery and heavy machinery, as well as producers and suppliers in a number of equipment-intensive industries such as coal mining, road construction and quarrying, as well as oil and gas exploration, refining, production and supply. Our end users' applications range from airframes to mining operations, engines to oil wells and turbochargers to processing. We operate two global business segments consisting of Industrial and Infrastructure.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The condensed consolidated financial statements, which include our accounts and those of our majority-owned subsidiaries, should be read in conjunction with our 2015 Annual Report on Form 10-K. The condensed consolidated balance sheet as of June 30, 2015 was derived from the audited balance sheet included in our 2015 Annual Report on Form 10-K. These 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 adjustments. The results for the three months ended September 30, 2015 and 2014 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 2016 is to the fiscal year ending June 30, 2016 . When used in this Form 10-Q, unless the context requires otherwise, the terms “we,” “our” and “us” refer to Kennametal Inc. and its subsidiaries. During the prior year, the Company revised its condensed consolidated statement of cash flow for the three months ended September 30, 2014 to correctly present the net cash flow provided by operating activities and effect of exchange rate changes on cash and cash equivalents, resulting in an increase of $8.4 million to operating cash flows and a corresponding decrease in effect of exchange rate changes on cash and cash equivalents. The Company evaluated this error and determined that the impact of the error was not material to the previously issued interim and annual financial statements.

New Accounting Standards

New Accounting Standards	3 Months Ended
	Sep. 30, 2015
Accounting Changes and Error Corrections [Abstract]
NEW ACCOUNTING STANDARDS	NEW ACCOUNTING STANDARDS Adopted In April 2014, the Financial Accounting Standards Board (FASB) issued new guidance on reporting discontinued operations and disclosures of disposals of components of an entity. Under the new guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Additionally, the new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income and expenses of discontinued operations. The new guidance also requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. This guidance was effective for Kennametal beginning July 1, 2015 and did not have a material impact on our condensed consolidated financial statements. Issued In August 2015, the FASB issued new guidance that defers the effective date of previously issued ASU 2014-09, “Revenue from Contracts with Customers: Topic 606.” Under the new guidance, the effective date for Kennametal was deferred from July 1, 2017 to July 1, 2018. We are in the process of assessing the impact the adoption of this ASU will have on our condensed consolidated financial statements. In July 2015, the FASB issued new guidance on subsequent measurement of inventory. The amendments in this update require that inventory other than LIFO be subsequently measured at the lower of cost and net realizable value, as opposed to the current practice of lower of cost or market. Subsequent measurement is unchanged for inventory measured using LIFO. This standard is effective for Kennametal beginning July 1, 2017. We are in the process of evaluating the impact of adoption on our condensed consolidated financial statements.

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	3 Months Ended
	Sep. 30, 2015
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Three Months Ended September 30, (in thousands) 2015 2014 Cash paid during the period for: Interest $ 6,832 $ 9,002 Income taxes 19,838 10,791 Supplemental disclosure of non-cash information: Changes in accounts payable related to purchases of property, plant and equipment 16,400 6,470

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received to sell 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, 2015 , the fair values of the Company’s financial assets and financial liabilities measured at fair value on a recurring basis are categorized as follows: (in thousands) Level 1 Level 2 Level 3 Total Assets: Derivatives (1) $ — $ 853 $ — $ 853 Total assets at fair value $ — $ 853 $ — $ 853 Liabilities: Derivatives (1) $ — $ — $ — $ — Contingent consideration — — 8,700 8,700 Total liabilities at fair value $ — $ — $ 8,700 $ 8,700 As of June 30, 2015 , the fair value of the Company’s financial assets and financial liabilities measured at fair value on a recurring basis are categorized as follows: (in thousands) Level 1 Level 2 Level 3 Total Assets: Derivatives (1) $ — $ 2,678 $ — $ 2,678 Total assets at fair value $ — $ 2,678 $ — $ 2,678 Liabilities: Derivatives (1) $ — $ 44 $ — $ 44 Contingent consideration — — 10,000 10,000 Total liabilities at fair value $ — $ 44 $ 10,000 $ 10,044 (1) Currency derivatives are valued based on observable market spot and forward rates and are classified within Level 2 of the fair value hierarchy. The fair value of contingent consideration payable that was classified as Level 3 relates to our probability assessments of expected future milestone targets, primarily associated with product delivery, related to a previous acquisition. The contingent consideration is to be paid over the next 15 months and is recorded in other current liabilities and other liabilities in our condensed consolidated balance sheet. The Company reassessed this contingent consideration and determined that an adjustment of $1.3 million to reduce the fair value of the remaining contingent consideration was necessary during the three months ended September 30, 2015 due to a return of inventory to the seller during the quarter. No other changes in the expected outcome have occurred during the quarter ended September 30, 2015 .

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Sep. 30, 2015
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, hold no derivative instruments for trading purposes. We account for derivative instruments as a hedge of the related asset, liability, firm commitment or anticipated transaction, when the derivative is specifically designated and qualifies as a hedge of such items. Our objective in managing foreign exchange exposures with derivative instruments is to reduce volatility in cash flow. We measure hedge effectiveness by assessing the changes in the fair value or expected future cash flows of the hedged item. The ineffective portions are recorded in other expense (income), net. The fair value of derivatives designated and not designated as hedging instruments in the condensed consolidated balance sheet are as follows: (in thousands) September 30, June 30, Derivatives designated as hedging instruments Other current assets - range forward contracts $ 828 $ 2,626 Other current liabilities - range forward contracts — — Other assets - range forward contracts — — Total derivatives designated as hedging instruments 828 2,626 Derivatives not designated as hedging instruments Other current assets - currency forward contracts 25 52 Other current liabilities - currency forward contracts — (44 ) Total derivatives not designated as hedging instruments 25 8 Total derivatives $ 853 $ 2,634 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 sheet, with the offset to other expense (income), net. Gains related to derivatives not designated as hedging instruments have been recognized as follows: Three Months Ended September 30, (in thousands) 2015 2014 Other expense (income), net - currency forward contracts $ (17 ) $ (4,896 ) CASH FLOW HEDGES Range forward contracts (a transaction where both a put option is purchased and a call option is sold) are designated as cash flow hedges and hedge anticipated cash flows from cross-border intercompany sales of products and services. Gains and losses realized on these contracts at maturity are recorded in accumulated other comprehensive loss and are recognized as a component of other expense (income), net when the underlying sale of products or services is recognized into earnings. The notional amount of the contracts translated into U.S. dollars at September 30, 2015 and June 30, 2015 , was $58.2 million and $53.8 million , respectively. The time value component of the fair value of range forward contracts is excluded from the assessment of hedge effectiveness. Assuming the market rates remain constant with the rates at September 30, 2015 , we expect to recognize into earnings in the next 12 months $0.8 million of income on outstanding derivatives. The following represents gains and losses related to cash flow hedges: Three Months Ended September 30, (in thousands) 2015 2014 Gains recognized in other comprehensive loss, net $ 516 $ 1,507 (Gains) losses reclassified from accumulated other comprehensive loss into other expense (income), net $ (1,458 ) $ 350 No portion of the gains or losses recognized in earnings was due to ineffectiveness and no amounts were excluded from our effectiveness testing for the three months ended September 30, 2015 and 2014 .

Restructuring and Related Charg

Restructuring and Related Charges	3 Months Ended
	Sep. 30, 2015
Restructuring Charges [Abstract]
RESTRUCTURING AND RELATED CHARGES	RESTRUCTURING AND RELATED CHARGES Phase 1 We are implementing restructuring actions in conjunction with our Phase 1 restructuring program to achieve synergies across Kennametal as a result of the TMB acquisition by consolidating operations among both organizations, reducing administrative overhead and leveraging the supply chain. These restructuring actions are expected to be completed by the end of fiscal 2016 and are anticipated to be mostly cash expenditures. The total pre-tax charges for Phase 1 programs are expected to be in the range of $55 million to $60 million , which is expected to be approximately 50 percent Industrial and 50 percent Infrastructure. Total restructuring and related charges since inception of $56.7 million have been recorded for these Phase 1 programs through September 30, 2015 : $30.0 million in Industrial, $24.5 million in Infrastructure and $2.2 million in Corporate. Phase 2 We are implementing restructuring actions in conjunction with Phase 2 to streamline the Company's cost structure. These initiatives are expected to enhance operational efficiencies through the rationalization of certain manufacturing facilities as well as other employment and cost reduction programs. These restructuring actions are expected to be completed by December 2018 and are anticipated to be mostly cash expenditures. The total pre-tax charges for Phase 2 programs are expected to be in the range of $90 million to $100 million , which is expected to be approximately 85 percent Industrial and 15 percent Infrastructure. Total restructuring and related charges since inception of $32.2 million have been recorded for these Phase 2 programs through September 30, 2015 : $19.5 million in Industrial, $9.4 million in Infrastructure and $3.3 million in Corporate. Phase 3 We are implementing restructuring actions in conjunction with Phase 3. These initiatives are expected to enhance operational efficiencies through an enterprise-wide cost reduction program as well as the consolidation of certain manufacturing facilities. These restructuring actions are expected to be completed by March 2017 and are anticipated to be mostly cash expenditures. The total pre-tax charges for Phase 3 programs are expected to be in the range of $40 million to $45 million , which is expected to be approximately 50 percent Industrial and 50 percent Infrastructure. Total restructuring and related charges since inception of $3.4 million have been recorded for these Phase 3 programs through September 30, 2015 : $0.4 million in Industrial, $1.6 million in Infrastructure and $1.4 million in Corporate. Combined During the three months ended September 30, 2015 , we recognized total restructuring and related charges of $15.1 million , of this amount, restructuring charges totaled $9.1 million . Total restructuring-related charges of $1.6 million were recorded in cost of goods sold and $4.4 million in operating expense for the three months ended September 30, 2015 . During the three months ended September 30, 2014 , we recognized total restructuring and related charges of $7.4 million , of this amount, restructuring charges totaled $1.9 million , of which $0.3 million were charges related to inventory disposals and were recorded in cost of goods sold. Total restructuring-related charges of $3.4 million were recorded in cost of goods sold and $2.1 million in operating expense for the three months ended September 30, 2014 . The restructuring accrual is recorded in other current liabilities in our condensed consolidated balance sheet and the amount attributable to each segment is as follows: (in thousands) June 30, 2015 Expense Asset Write-Down Translation Cash Expenditures September 30, 2015 Industrial Severance $ 13,456 $ 4,911 $ — $ (14 ) $ (6,581 ) $ 11,772 Facilities — 50 (50 ) — — — Other 28 6 — — (28 ) 6 Total Industrial $ 13,484 $ 4,967 $ (50 ) $ (14 ) $ (6,609 ) $ 11,778 Infrastructure Severance $ 7,173 $ 1,152 $ — $ (3 ) $ (1,544 ) $ 6,778 Facilities 131 2,999 (2,999 ) — (9 ) 122 Other — 2 — — (1 ) 1 Total Infrastructure $ 7,304 $ 4,153 $ (2,999 ) $ (3 ) $ (1,554 ) $ 6,901 Total $ 20,788 $ 9,120 $ (3,049 ) $ (17 ) $ (8,163 ) $ 18,679 (in thousands) June 30, 2014 Expense Asset Write-Down Translation Cash Expenditures September 30, 2014 Industrial Severance $ 5,815 $ 1,256 $ — $ (295 ) $ (2,721 ) $ 4,055 Facilities 444 85 (85 ) (21 ) (29 ) 394 Other 67 14 — (2 ) (46 ) 33 Total Industrial $ 6,326 $ 1,355 $ (85 ) $ (318 ) $ (2,796 ) $ 4,482 Infrastructure Severance $ 2,458 $ 479 $ — $ (113 ) $ (1,039 ) $ 1,785 Facilities 190 32 (32 ) (8 ) (11 ) 171 Other 28 6 — (1 ) (18 ) 15 Total Infrastructure $ 2,676 $ 517 $ (32 ) $ (122 ) $ (1,068 ) $ 1,971 Total $ 9,002 $ 1,872 $ (117 ) $ (440 ) $ (3,864 ) $ 6,453

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Stock Options The assumptions used in our Black-Scholes valuation related to grants made during the three months ended September 30, 2015 and 2014 were as follows: 2015 2014 Risk-free interest rate 1.4 % 1.5 % Expected life (years) (2) 4.5 4.5 Expected volatility (3) 31.0 % 32.7 % Expected dividend yield 2.0 % 1.6 % (2) Expected life is derived from historical experience. (3) Expected volatility is based on the implied historical volatility of our stock. Changes in our stock options for the three months ended September 30, 2015 were as follows: Options Weighted Average Exercise Price Weighted Average Remaining Life (years) Aggregate Intrinsic value (in thousands) Options outstanding, June 30, 2015 2,094,037 $ 36.08 Granted 625,845 31.48 Exercised (9,830 ) 25.86 Lapsed and forfeited (83,151 ) 36.56 Options outstanding, September 30, 2015 2,626,901 $ 35.00 5.4 $ 551 Options vested and expected to vest, September 30, 2015 2,539,198 $ 35.05 5.2 $ 551 Options exercisable, September 30, 2015 1,732,201 $ 35.23 3.3 $ 551 During the three months ended September 30, 2015 and 2014 , compensation expense related to stock options was $1.3 million and $2.3 million , respectively. As of September 30, 2015 , the total unrecognized compensation cost related to options outstanding was $4.4 million and is expected to be recognized over a weighted average period of 2.5 years . Weighted average fair value of options granted during the three months ended September 30, 2015 and 2014 was $7.17 and $10.56 , respectively. Fair value of options vested during the three months ended September 30, 2015 and 2014 was $1.9 million and $4.3 million , respectively. Tax benefits relating to excess stock-based compensation deductions are presented in the condensed consolidated statements of cash flow as financing cash inflows. Tax benefits resulting from stock-based compensation deductions were less than amounts reported for financial reporting purposes by $1.4 million for the three months ended September 30, 2015 and exceeded amounts reported for financial reporting purposes by $1.3 million for the three months ended September 30, 2014 . The amount of cash received from the exercise of capital stock options was immaterial during the three months ended September 30, 2015 and was $4.5 million during the three months ended September 30, 2014 . The related tax benefit was immaterial for the three months ended September 30, 2015 and was $1.1 million during the three months ended September 30, 2014 . The total intrinsic value of options exercised was immaterial during the three months ended September 30, 2015 and was $2.9 million during the three months ended September 30, 2014 . Under the provisions of the Kennametal Inc. Stock and Incentive Plan of 2010 as amended and restated on October 22, 2013, plan participants may deliver stock, owned by the holder for at least six months, in payment of the option price and receive credit for the fair market value of the shares on the date of delivery. The fair market value of shares delivered during both the three months ended September 30, 2015 and 2014 was immaterial. Restricted Stock Units – Time Vesting and Performance Vesting Performance vesting restricted stock units are earned pro rata each year if certain performance goals are met over a three -year period and are also subject to a service condition that requires the individual to be employed by the Company at the payment date after the three -year performance period, with the exception of retirement eligible grantees, who upon retirement are entitled to receive payment for any units that have been earned, including a prorated portion in the partially completed fiscal year in which the retirement occurs. Time vesting stock units are valued at the market value of the stock on the grant date. Performance vesting stock units with a market condition are valued using a Monte Carlo model. Changes in our time vesting and performance vesting restricted stock units for the three months ended September 30, 2015 were as follows: Performance Vesting Stock Units Performance Vesting Weighted Average Fair Value Time Vesting Stock Units Time Vesting Weighted Average Fair Value Unvested performance vesting and time vesting restricted stock units, June 30, 2015 101,245 $ 43.00 689,268 $ 41.53 Granted 117,589 31.60 468,066 31.60 Vested — — (242,676 ) 41.14 Performance metric not achieved (42,697 ) 31.60 — — Forfeited (15,703 ) 35.93 (46,419 ) 39.44 Unvested performance vesting and time vesting restricted stock units, September 30, 2015 160,434 $ 35.53 868,239 $ 36.38 During the three months ended September 30, 2015 and 2014 , compensation expense related to time vesting and performance vesting restricted stock units was $5.7 million and $7.6 million , respectively. As of September 30, 2015 , the total unrecognized compensation cost related to unvested time vesting and performance vesting restricted stock units was $21.2 million and is expected to be recognized over a weighted average period of 2.5 years.

Benefit Plans

Benefit Plans	3 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
BENEFIT PLANS	BENEFIT PLANS We sponsor several defined benefit pension plans. Additionally, we provide varying levels of postretirement health care and life insurance benefits to some U.S. employees. The table below summarizes the components of net periodic pension (income): Three Months Ended September 30, (in thousands) 2015 2014 Service cost $ 1,163 $ 1,415 Interest cost 9,485 9,936 Expected return on plan assets (14,709 ) (15,047 ) Amortization of transition obligation 21 21 Amortization of prior service credit (104 ) (70 ) Recognition of actuarial losses 1,833 1,001 Special termination benefit charge 54 — Net periodic pension (income) $ (2,257 ) $ (2,744 ) The special termination benefit charge of $0.1 million in the current period is the result of lump sum payments to several terminated Executive Retirement Plan participants. The table below summarizes the components of net periodic other postretirement benefit cost: Three Months Ended September 30, (in thousands) 2015 2014 Service cost $ — $ 27 Interest cost 210 259 Amortization of prior service credit (6 ) (28 ) Recognition of actuarial loss 81 207 Net periodic other postretirement benefit cost $ 285 $ 465

Inventories

Inventories	3 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES We used the last-in, first-out (LIFO) method of valuing inventories for 43 percent and 47 percent of total inventories at September 30, 2015 and June 30, 2015 , respectively. Since inventory valuations under the LIFO method are based on an annual determination of quantities and costs as of June 30 of each year, the interim LIFO valuations are based on our projections of expected year-end inventory levels and costs. Therefore, the interim financial results are subject to any final year-end LIFO inventory adjustments. Inventories consisted of the following: (in thousands) September 30, 2015 June 30, 2015 Finished goods $ 323,753 $ 324,840 Work in process and powder blends 203,190 249,629 Raw materials 85,315 100,881 Inventories at current cost 612,258 675,350 Less: LIFO valuation (62,650 ) (99,819 ) Total inventories $ 549,608 $ 575,531

Long-Term Debt

Long-Term Debt	3 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Our $600 million five-year, multi-currency, revolving credit facility (2011 Credit Agreement) requires us to comply with various restrictive and affirmative covenants, including two financial covenants: a maximum leverage ratio and a minimum consolidated interest coverage ratio (as those terms are defined in the agreement). We were in compliance with all covenants as of September 30, 2015 . We had $42.1 million and $42.8 million of borrowings outstanding under the 2011 Credit Agreement as of September 30, 2015 and June 30, 2015 , respectively. Borrowings under the 2011 Credit Agreement are guaranteed by our significant domestic subsidiaries. The 2011 Credit Agreement matures in April 2018. Fixed rate debt had a fair market value of $706.3 million and $698.0 million at September 30, 2015 and June 30, 2015 , respectively. The Level 2 fair value is determined based on the quoted market price of this debt as of September 30, 2015 and June 30, 2015 , respectively.

Environmental Matters

Environmental Matters	3 Months Ended
	Sep. 30, 2015
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 of our locations. Superfund Sites We are involved as a potentially responsible party (PRP) at various sites designated by the United States Environmental Protection Agency (USEPA) as Superfund sites. For certain of these sites, we have evaluated the claims and potential liabilities and have determined that neither are material, individually or in the aggregate. For certain other sites, proceedings are in the very early stages and have not yet progressed to a point where it is possible to estimate the ultimate cost of remediation, the timing and extent of remedial action that may be required by governmental authorities or the amount of our liability alone or in relation to that of any other PRPs. Other Environmental Matters We establish and maintain reserves for other potential environmental issues. At September 30, 2015 and June 30, 2015 , the balances of these reserves were $12.5 million and $12.6 million . These reserves represent anticipated costs associated with the remediation of these issues. The reserves we have established for environmental liabilities represent our best current estimate of the costs of addressing all 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 USEPA, other governmental agencies and by the PRP groups in which we are participating. Although the reserves currently appear to be sufficient to cover these environmental liabilities, there are uncertainties associated with environmental liabilities, and we can give no assurance that our estimate of any environmental liability will not increase or decrease in the future. The reserved and unreserved 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 on these matters. We maintain a Corporate Environmental Health and Safety (EHS) Department to monitor compliance with environmental regulations and to oversee remediation activities. In addition, we have designated EHS coordinators who are responsible for each of our global manufacturing facilities. Our financial management team periodically meets with members of the Corporate EHS Department and the Corporate Legal Department to review and evaluate the status of environmental projects and contingencies. On a quarterly basis, we review financial provisions and reserves for environmental contingencies and adjust these reserves when appropriate.

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective income tax rates for the three months ended September 30, 2015 and 2014 were negative 292.8 percent (provision on a loss) and 26.5 percent (provision on income) , respectively. The current quarter includes a discrete tax charge of $4.2 million associated with the transaction specified in Note 19 which relates to a change in assertion with respect to a portion of our foreign subsidiaries’ undistributed earnings, which are no longer considered permanently reinvested. The change in the rate also reflects the impact of restructuring and related charges.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share is computed using the weighted average number of shares outstanding during the period, while diluted earnings per share is calculated to reflect the potential dilution that would occur related to the issuance of capital stock under stock option grants and restricted stock units. The difference between basic and diluted earnings per share relates solely to the effect of capital stock options and restricted stock units. For the three months ended September 30, 2015 , the effect of unexercised capital stock options and unvested restricted stock units was anti-dilutive as a result of a net loss in the period and therefore has been excluded from diluted shares outstanding as well as from the diluted earnings per share calculation. For purposes of determining the number of diluted shares outstanding for the three months ended September 30, 2014 , weighted average shares outstanding for basic earnings per share calculations were increased due solely to the dilutive effect of unexercised capital stock options and unvested restricted stock units by 0.8 million shares. Unexercised capital stock options and restricted stock units of 0.6 million shares for the three months ended September 30, 2014 were not included in the computation of diluted earnings per share because the option exercise price was greater than the average market price, and therefore the inclusion would have been anti-dilutive.

Equity

Equity	3 Months Ended
	Sep. 30, 2015
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 as of September 30, 2015 and 2014 is as follows: Kennametal Shareholders’ Equity (in thousands) Capital Additional Retained Accumulated Non- Total equity Balance as of June 30, 2015 $ 99,219 $ 419,829 $ 1,070,282 $ (243,523 ) $ 29,628 $ 1,375,435 Net (loss) income — — (6,226 ) — 522 (5,704 ) Other comprehensive loss — — — (17,333 ) (539 ) (17,872 ) Dividend reinvestment 4 76 — — — 80 Capital stock issued under employee benefit and stock plans 289 2,856 — — — 3,145 Purchase of capital stock (4 ) (76 ) — — — (80 ) Cash dividends paid — — (15,915 ) — — (15,915 ) Balance as of September 30, 2015 $ 99,508 $ 422,685 $ 1,048,141 $ (260,856 ) $ 29,611 $ 1,339,089 Kennametal Shareholders’ Equity (in thousands) Capital stock Additional paid-in capital Retained earnings Accumulated Non- controlling interests Total equity Balance as of June 30, 2014 $ 98,340 $ 395,890 $ 1,501,157 $ (66,131 ) $ 32,352 $ 1,961,608 Net income — — 39,488 — 639 40,127 Other comprehensive loss — — — (43,755 ) (1,492 ) (45,247 ) Dividend reinvestment 2 77 — — — 79 Capital stock issued under employee benefit and stock plans 512 11,466 — — — 11,978 Purchase of capital stock (2 ) (77 ) — — — (79 ) Cash dividends paid — — (14,212 ) — — (14,212 ) Balance as of September 30, 2014 $ 98,852 $ 407,356 $ 1,526,433 $ (109,886 ) $ 31,499 $ 1,954,254 The amounts of comprehensive income attributable to Kennametal Shareholders and noncontrolling interests are disclosed in the condensed consolidated statements of comprehensive income.

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income	3 Months Ended
	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive (Loss) Income	ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME Total accumulated other comprehensive (loss) income (AOCL) consists of net (loss) income and other changes in equity from transactions and other events from sources other than shareholders. It includes postretirement benefit plan adjustments, currency translation adjustments and unrealized gains and losses from derivative instruments designated as cash flow hedges. The components of, and changes in, AOCL were as follows (net of tax) for the three months ended September 30, 2015 (in thousands): Attributable to Kennametal: Postretirement benefit plans Currency translation adjustment Derivatives Total Balance, June 30, 2015 $ (138,793 ) $ (97,309 ) $ (7,421 ) $ (243,523 ) Other comprehensive loss before reclassifications 999 (18,310 ) 525 (16,786 ) Amounts reclassified from AOCL 1,219 — (1,766 ) (547 ) Net current period other comprehensive loss 2,218 (18,310 ) (1,241 ) (17,333 ) AOCL, September 30, 2015 $ (136,575 ) $ (115,619 ) $ (8,662 ) $ (260,856 ) Attributable to noncontrolling interests: Balance, June 30, 2015 $ — $ (2,258 ) $ — $ (2,258 ) Other comprehensive loss before reclassifications — (539 ) — (539 ) Net current period other comprehensive loss — (539 ) — (539 ) AOCL, September 30, 2015 $ — $ (2,797 ) $ — $ (2,797 ) The components of, and changes in, AOCL were as follows (net of tax) for the three months ended September 30, 2014 (in thousands): Attributable to Kennametal: Postretirement benefit plans Currency translation adjustment Derivatives Total Balance, June 30, 2014 $ (93,742 ) $ 38,811 $ (11,200 ) $ (66,131 ) Other comprehensive (loss) income before reclassifications 3,641 (50,021 ) 1,507 (44,873 ) Amounts reclassified from AOCL 754 — 364 1,118 Net current period other comprehensive (loss) income 4,395 (50,021 ) 1,871 (43,755 ) AOCL, September 30, 2014 $ (89,347 ) $ (11,210 ) $ (9,329 ) $ (109,886 ) Attributable to noncontrolling interests: Balance, June 30, 2014 $ — $ 1,087 $ — $ 1,087 Other comprehensive income before reclassifications — (1,492 ) — (1,492 ) Net current period other comprehensive income — (1,492 ) — (1,492 ) AOCL, September 30, 2014 $ — $ (405 ) $ — $ (405 ) Reclassifications out of AOCL for the three months ended September 30, 2015 and 2014 , respectively consisted of the following (in thousands): Three Months Ended September 30, Details about AOCL components 2015 2014 Affected line item in the Income Statement Gains and losses on cash flow hedges: Forward starting interest rate swaps $ 525 $ 505 Interest expense Currency exchange contracts (3,373 ) 82 Other expense (income), net Total before tax (2,848 ) 587 Tax expense (benefit) 1,082 (223 ) Provision for income taxes Net of tax $ (1,766 ) $ 364 Postretirement benefit plans: Amortization of transition obligations $ 21 $ 21 See note 9 for further details Amortization of prior service credit (110 ) (98 ) See note 9 for further details Recognition of actuarial losses 1,914 1,208 See note 9 for further details Total before taxes 1,825 1,131 Tax (benefit) (606 ) (377 ) Provision for income taxes Net of tax $ 1,219 $ 754 The amount of income tax allocated to each component of other comprehensive (loss) for the three months ended September 30, 2015 and 2014 : Three Months Ended September 30, 2015 2014 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Unrealized gain on derivatives designated and qualified as cash flow hedges $ 847 $ (322 ) $ 525 $ 2,431 $ (924 ) $ 1,507 Reclassification of unrealized (gain) loss on expired derivatives designated and qualified as cash flow hedges (2,848 ) 1,082 (1,766 ) 587 (223 ) 364 Unrecognized net pension and other postretirement benefit gain 1,267 (268 ) 999 4,978 (1,337 ) 3,641 Reclassification of net pension and other postretirement benefit loss 1,825 (606 ) 1,219 1,131 (377 ) 754 Foreign currency translation adjustments (18,905 ) 56 (18,849 ) (54,844 ) 3,331 (51,513 ) Other comprehensive (loss) $ (17,814 ) $ (58 ) $ (17,872 ) $ (45,717 ) $ 470 $ (45,247 )

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill represents the excess of cost over the fair value of the net assets of acquired companies. Goodwill and other intangible assets with indefinite lives are tested at least annually for impairment. We perform our annual impairment tests during the June quarter in connection with our annual planning process, unless there are impairment indicators based on the results of an ongoing cumulative qualitative assessment that warrant a test prior to that. We evaluate the recoverability of goodwill for each of our reporting units by comparing the fair value of each reporting unit with its carrying value. The fair values of our reporting units are determined using a combination of a discounted cash flow analysis and market multiples based upon historical and projected financial information. We apply our best judgment when assessing the reasonableness of the financial projections used to determine the fair value of each reporting unit. We evaluate the recoverability of indefinite-lived intangible assets using a discounted cash flow analysis based on projected financial information. This evaluation is sensitive to changes in market interest rates and other external factors. Identifiable assets with finite lives are reviewed for impairment whenever events or circumstances indicate that the carrying value may not be recoverable. We are currently exploring strategic alternatives for one of our non-core Infrastructure businesses. The estimated net book value of the business is approximately $40 million as of September 30, 2015 . As the strategic direction has not yet been determined for this business, the Company cannot determine if additional impairment charges will be incurred. On October 30, 2015, we signed a definitive agreement with Madison Industries to sell all of the outstanding capital stock of: Kennametal Extrude Hone Corporation and its wholly owned subsidiaries, Kennametal Stellite S.r.l. (Bellusco, Italy), Kennametal Stellite S.p.A. (Milan, Italy), Kennametal Stellite GmbH (Koblenz, Germany); and all of the assets of the businesses of: Tricon (manufacturing operations in Birmingham, Alabama; Chicago, Illinois; and Elko, Nevada), Landis (manufacturing operation in Waynesboro, Pennsylvania); and all of the assets located at the Biel, Switzerland manufacturing facility (non-core businesses), see Note 19. Long-lived assets are tested for impairment when events or changes in circumstances indicate that the carrying amount of the asset or asset group may not be recoverable. The following factors were assessed when considering whether an impairment test must be completed: there has not been a significant change or decrease in the market price of the asset groups; there has been no change to the extent or manner in which the asset groups are being used or in their physical condition; there have been no adverse changes in legal factors or in the business climate that would affect the value of the long-lived assets subsequent to the Infrastructure impairment charges taken in fiscal 2015; and there is not a current period operating or cash flow loss nor has there been a history of operating or cash flow losses or projected continued losses associated with the asset groups. In addition, we have not noted any other indicators that would require an impairment test. Based on these factors, we concluded that an impairment test is not required. As discussed in the 2015 Annual Report on Form 10-K, we recorded non-cash pre-tax goodwill and other intangible asset impairment charges in the Infrastructure segment during the most recent completed fiscal year. Therefore, as of the date of the last impairment test, the Infrastructure reporting unit had a fair value that approximates carrying value. Financial projections are not deteriorating from the projections used in our original testing in the prior year. Thus, we do not see a risk of impairment at this time for Infrastructure under the “held and used” model. Goodwill at the Industrial reporting unit is continues to meet Step 1 of the impairment test since fair value exceeded the carrying value by approximately 90 percent as of the date of the last impairment test. A summary of the carrying amount of goodwill attributable to each segment, as well as the changes in such, is as follows: (in thousands) Industrial Infrastructure Total Gross goodwill $ 455,371 $ 640,360 $ 1,095,731 Accumulated impairment losses (150,842 ) (527,500 ) (678,342 ) Balance as of June 30, 2015 $ 304,529 $ 112,860 $ 417,389 Activity for the three months ended September 30, 2015: Translation (2,213 ) (96 ) (2,309 ) Change in gross goodwill (2,213 ) (96 ) (2,309 ) Gross goodwill 453,158 640,264 1,093,422 Accumulated impairment losses (150,842 ) (527,500 ) (678,342 ) Balance as of September 30, 2015 $ 302,316 $ 112,764 $ 415,080 The components of our other intangible assets were as follows: Estimated Useful Life (in years) September 30, 2015 June 30, 2015 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Contract-based 3 to 15 $ 8,505 $ (7,165 ) $ 8,523 $ (6,990 ) Technology-based and other 4 to 20 52,572 (30,062 ) 52,820 (29,723 ) Customer-related 10 to 21 273,501 (93,750 ) 275,796 (90,141 ) Unpatented technology 10 to 30 58,569 (14,859 ) 59,449 (14,426 ) Trademarks 5 to 20 18,491 (12,456 ) 18,575 (12,090 ) Trademarks Indefinite 24,842 — 24,876 — Total $ 436,480 $ (158,292 ) $ 440,039 $ (153,370 ) During the three months ended September 30, 2015 , we recorded amortization expense of $6.2 million related to our other intangible assets and unfavorable currency translation adjustments of $0.7 million .

Segment Data

Segment Data	3 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
SEGMENT DATA	SEGMENT DATA Kennametal delivers productivity to customers seeking peak performance in demanding environments by providing innovative custom and standard wear-resistant solutions. To provide these solutions, we harness our knowledge of advanced materials and application development with a commitment to environmental sustainability. Our product offering includes a wide selection of standard and customized technologies for metalworking, such as sophisticated metalcutting tools, tooling systems and services, as well as advanced, high-performance materials, such as cemented tungsten carbide products, super alloys, coatings and investment castings to address customer demands. We offer these products through a variety of channels to meet customer-specified needs. The Company manages and reports its business in the following two segments: Industrial and Infrastructure. The Company's reportable operating segments have been determined in accordance with the Company's internal management structure, which is organized based on operating activities, the manner in which we organize segments for 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, the Company’s Board of Directors and strategic initiatives, as well as certain other costs and report them in Corporate. Neither of our two reportable operating segments represent the aggregation of two or more operating segments. The Industrial segment generally serves customers that operate in industrial end markets such as transportation, general engineering and aerospace and defense. The customers in these end markets manufacture engines, airframes, automobiles, trucks, ships and various types of industrial equipment. The technology and customization requirements for customers we serve vary by customer, application and industry. The value we deliver to our Industrial segment customers centers on our application expertise and our diverse offering of products and services. The Infrastructure segment generally serves customers that operate in the earthworks and energy sectors who support primary industries such as oil and gas, power generation, underground, surface and hard-rock mining, highway construction and road maintenance. Generally, we rely on customer intimacy to serve this segment. By gaining an in-depth understanding of our customers’ engineering and development needs, we are able to offer complete system solutions and high-performance capabilities to optimize and add value to their operations. Our sales and operating income (loss) by segment are as follows: Three Months Ended September 30, (in thousands) 2015 2014 Sales: Industrial $ 313,333 $ 377,858 Infrastructure 242,021 317,083 Total sales $ 555,354 $ 694,941 Operating income (loss): Industrial $ 20,175 $ 44,017 Infrastructure (8,853 ) 19,221 Corporate (4,708 ) (2,217 ) Total operating income 6,614 61,021 Interest expense 6,979 8,210 Other expense (income), net 1,087 (1,813 ) (Loss) income from continuing operations before income taxes $ (1,452 ) $ 54,624

Subsequent Events (Notes)

Subsequent Events (Notes)	3 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Event, Pro Forma Business Combinations or Disposals [Text Block]	SUBSEQUENT EVENTS On October 30, 2015, Kennametal signed a definitive agreement with Madison Industries to sell non-core businesses for an aggregate price of approximately $70.0 million cash. The transaction is anticipated to close within 30 days of signing the definitive agreement with Madison Industries. The net book value of the non-core businesses included in the condensed consolidated balance sheets as of September 30, 2015 were approximately $170 million to $200 million . The after-tax loss on the sale is currently estimated to be in the range of approximately $100 million to $120 million . In order to enter into a binding agreement for the sale of the non-core businesses, the transaction required approval from our Board of Directors, which was not obtained as of September 30, 2015. Our Board of Directors approved this transaction on October 27, 2015.

Supplemental Cash Flow Disclo26

Supplemental Cash Flow Disclosures (Tables)	3 Months Ended
	Sep. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Disclosures	Three Months Ended September 30, (in thousands) 2015 2014 Cash paid during the period for: Interest $ 6,832 $ 9,002 Income taxes 19,838 10,791 Supplemental disclosure of non-cash information: Changes in accounts payable related to purchases of property, plant and equipment 16,400 6,470

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Financial instruments at fair value on recurring basis	As of September 30, 2015 , the fair values of the Company’s financial assets and financial liabilities measured at fair value on a recurring basis are categorized as follows: (in thousands) Level 1 Level 2 Level 3 Total Assets: Derivatives (1) $ — $ 853 $ — $ 853 Total assets at fair value $ — $ 853 $ — $ 853 Liabilities: Derivatives (1) $ — $ — $ — $ — Contingent consideration — — 8,700 8,700 Total liabilities at fair value $ — $ — $ 8,700 $ 8,700 As of June 30, 2015 , the fair value of the Company’s financial assets and financial liabilities measured at fair value on a recurring basis are categorized as follows: (in thousands) Level 1 Level 2 Level 3 Total Assets: Derivatives (1) $ — $ 2,678 $ — $ 2,678 Total assets at fair value $ — $ 2,678 $ — $ 2,678 Liabilities: Derivatives (1) $ — $ 44 $ — $ 44 Contingent consideration — — 10,000 10,000 Total liabilities at fair value $ — $ 44 $ 10,000 $ 10,044 (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 He28

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of derivatives	The fair value of derivatives designated and not designated as hedging instruments in the condensed consolidated balance sheet are as follows: (in thousands) September 30, June 30, Derivatives designated as hedging instruments Other current assets - range forward contracts $ 828 $ 2,626 Other current liabilities - range forward contracts — — Other assets - range forward contracts — — Total derivatives designated as hedging instruments 828 2,626 Derivatives not designated as hedging instruments Other current assets - currency forward contracts 25 52 Other current liabilities - currency forward contracts — (44 ) Total derivatives not designated as hedging instruments 25 8 Total derivatives $ 853 $ 2,634
(Gains) losses related to derivatives not designated as hedging instruments	Gains related to derivatives not designated as hedging instruments have been recognized as follows: Three Months Ended September 30, (in thousands) 2015 2014 Other expense (income), net - currency forward contracts $ (17 ) $ (4,896 )
Gains and losses related to cash flow hedges	The following represents gains and losses related to cash flow hedges: Three Months Ended September 30, (in thousands) 2015 2014 Gains recognized in other comprehensive loss, net $ 516 $ 1,507 (Gains) losses reclassified from accumulated other comprehensive loss into other expense (income), net $ (1,458 ) $ 350

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Sep. 30, 2015
Restructuring Charges [Abstract]
Schedule of Restructuring Reserve by Type of Cost	The restructuring accrual is recorded in other current liabilities in our condensed consolidated balance sheet and the amount attributable to each segment is as follows: (in thousands) June 30, 2015 Expense Asset Write-Down Translation Cash Expenditures September 30, 2015 Industrial Severance $ 13,456 $ 4,911 $ — $ (14 ) $ (6,581 ) $ 11,772 Facilities — 50 (50 ) — — — Other 28 6 — — (28 ) 6 Total Industrial $ 13,484 $ 4,967 $ (50 ) $ (14 ) $ (6,609 ) $ 11,778 Infrastructure Severance $ 7,173 $ 1,152 $ — $ (3 ) $ (1,544 ) $ 6,778 Facilities 131 2,999 (2,999 ) — (9 ) 122 Other — 2 — — (1 ) 1 Total Infrastructure $ 7,304 $ 4,153 $ (2,999 ) $ (3 ) $ (1,554 ) $ 6,901 Total $ 20,788 $ 9,120 $ (3,049 ) $ (17 ) $ (8,163 ) $ 18,679 (in thousands) June 30, 2014 Expense Asset Write-Down Translation Cash Expenditures September 30, 2014 Industrial Severance $ 5,815 $ 1,256 $ — $ (295 ) $ (2,721 ) $ 4,055 Facilities 444 85 (85 ) (21 ) (29 ) 394 Other 67 14 — (2 ) (46 ) 33 Total Industrial $ 6,326 $ 1,355 $ (85 ) $ (318 ) $ (2,796 ) $ 4,482 Infrastructure Severance $ 2,458 $ 479 $ — $ (113 ) $ (1,039 ) $ 1,785 Facilities 190 32 (32 ) (8 ) (11 ) 171 Other 28 6 — (1 ) (18 ) 15 Total Infrastructure $ 2,676 $ 517 $ (32 ) $ (122 ) $ (1,068 ) $ 1,971 Total $ 9,002 $ 1,872 $ (117 ) $ (440 ) $ (3,864 ) $ 6,453

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Assumptions used in our Black-Scholes valuation	The assumptions used in our Black-Scholes valuation related to grants made during the three months ended September 30, 2015 and 2014 were as follows: 2015 2014 Risk-free interest rate 1.4 % 1.5 % Expected life (years) (2) 4.5 4.5 Expected volatility (3) 31.0 % 32.7 % Expected dividend yield 2.0 % 1.6 % (2) Expected life is derived from historical experience. (3) Expected volatility is based on the implied historical volatility of our stock.
Changes in stock options	Changes in our stock options for the three months ended September 30, 2015 were as follows: Options Weighted Average Exercise Price Weighted Average Remaining Life (years) Aggregate Intrinsic value (in thousands) Options outstanding, June 30, 2015 2,094,037 $ 36.08 Granted 625,845 31.48 Exercised (9,830 ) 25.86 Lapsed and forfeited (83,151 ) 36.56 Options outstanding, September 30, 2015 2,626,901 $ 35.00 5.4 $ 551 Options vested and expected to vest, September 30, 2015 2,539,198 $ 35.05 5.2 $ 551 Options exercisable, September 30, 2015 1,732,201 $ 35.23 3.3 $ 551
Changes in time vesting and performance vesting restricted stock units	Changes in our time vesting and performance vesting restricted stock units for the three months ended September 30, 2015 were as follows: Performance Vesting Stock Units Performance Vesting Weighted Average Fair Value Time Vesting Stock Units Time Vesting Weighted Average Fair Value Unvested performance vesting and time vesting restricted stock units, June 30, 2015 101,245 $ 43.00 689,268 $ 41.53 Granted 117,589 31.60 468,066 31.60 Vested — — (242,676 ) 41.14 Performance metric not achieved (42,697 ) 31.60 — — Forfeited (15,703 ) 35.93 (46,419 ) 39.44 Unvested performance vesting and time vesting restricted stock units, September 30, 2015 160,434 $ 35.53 868,239 $ 36.38

Benefit Plans (Tables)

Benefit Plans (Tables)	3 Months Ended
	Sep. 30, 2015
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) 2015 2014 Service cost $ 1,163 $ 1,415 Interest cost 9,485 9,936 Expected return on plan assets (14,709 ) (15,047 ) Amortization of transition obligation 21 21 Amortization of prior service credit (104 ) (70 ) Recognition of actuarial losses 1,833 1,001 Special termination benefit charge 54 — Net periodic pension (income) $ (2,257 ) $ (2,744 )
Other Postretirement Benefit 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) 2015 2014 Service cost $ — $ 27 Interest cost 210 259 Amortization of prior service credit (6 ) (28 ) Recognition of actuarial loss 81 207 Net periodic other postretirement benefit cost $ 285 $ 465

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: (in thousands) September 30, 2015 June 30, 2015 Finished goods $ 323,753 $ 324,840 Work in process and powder blends 203,190 249,629 Raw materials 85,315 100,881 Inventories at current cost 612,258 675,350 Less: LIFO valuation (62,650 ) (99,819 ) Total inventories $ 549,608 $ 575,531

Equity (Tables)

Equity (Tables)	3 Months Ended
	Sep. 30, 2015
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 as of September 30, 2015 and 2014 is as follows: Kennametal Shareholders’ Equity (in thousands) Capital Additional Retained Accumulated Non- Total equity Balance as of June 30, 2015 $ 99,219 $ 419,829 $ 1,070,282 $ (243,523 ) $ 29,628 $ 1,375,435 Net (loss) income — — (6,226 ) — 522 (5,704 ) Other comprehensive loss — — — (17,333 ) (539 ) (17,872 ) Dividend reinvestment 4 76 — — — 80 Capital stock issued under employee benefit and stock plans 289 2,856 — — — 3,145 Purchase of capital stock (4 ) (76 ) — — — (80 ) Cash dividends paid — — (15,915 ) — — (15,915 ) Balance as of September 30, 2015 $ 99,508 $ 422,685 $ 1,048,141 $ (260,856 ) $ 29,611 $ 1,339,089 Kennametal Shareholders’ Equity (in thousands) Capital stock Additional paid-in capital Retained earnings Accumulated Non- controlling interests Total equity Balance as of June 30, 2014 $ 98,340 $ 395,890 $ 1,501,157 $ (66,131 ) $ 32,352 $ 1,961,608 Net income — — 39,488 — 639 40,127 Other comprehensive loss — — — (43,755 ) (1,492 ) (45,247 ) Dividend reinvestment 2 77 — — — 79 Capital stock issued under employee benefit and stock plans 512 11,466 — — — 11,978 Purchase of capital stock (2 ) (77 ) — — — (79 ) Cash dividends paid — — (14,212 ) — — (14,212 ) Balance as of September 30, 2014 $ 98,852 $ 407,356 $ 1,526,433 $ (109,886 ) $ 31,499 $ 1,954,254

Accumulated Other Comprehensi34

Accumulated Other Comprehensive (Loss) Income (Tables)	3 Months Ended
	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Components of, and changes in accumulated other comprehensive loss	The components of, and changes in, AOCL were as follows (net of tax) for the three months ended September 30, 2015 (in thousands): Attributable to Kennametal: Postretirement benefit plans Currency translation adjustment Derivatives Total Balance, June 30, 2015 $ (138,793 ) $ (97,309 ) $ (7,421 ) $ (243,523 ) Other comprehensive loss before reclassifications 999 (18,310 ) 525 (16,786 ) Amounts reclassified from AOCL 1,219 — (1,766 ) (547 ) Net current period other comprehensive loss 2,218 (18,310 ) (1,241 ) (17,333 ) AOCL, September 30, 2015 $ (136,575 ) $ (115,619 ) $ (8,662 ) $ (260,856 ) Attributable to noncontrolling interests: Balance, June 30, 2015 $ — $ (2,258 ) $ — $ (2,258 ) Other comprehensive loss before reclassifications — (539 ) — (539 ) Net current period other comprehensive loss — (539 ) — (539 ) AOCL, September 30, 2015 $ — $ (2,797 ) $ — $ (2,797 ) The components of, and changes in, AOCL were as follows (net of tax) for the three months ended September 30, 2014 (in thousands): Attributable to Kennametal: Postretirement benefit plans Currency translation adjustment Derivatives Total Balance, June 30, 2014 $ (93,742 ) $ 38,811 $ (11,200 ) $ (66,131 ) Other comprehensive (loss) income before reclassifications 3,641 (50,021 ) 1,507 (44,873 ) Amounts reclassified from AOCL 754 — 364 1,118 Net current period other comprehensive (loss) income 4,395 (50,021 ) 1,871 (43,755 ) AOCL, September 30, 2014 $ (89,347 ) $ (11,210 ) $ (9,329 ) $ (109,886 ) Attributable to noncontrolling interests: Balance, June 30, 2014 $ — $ 1,087 $ — $ 1,087 Other comprehensive income before reclassifications — (1,492 ) — (1,492 ) Net current period other comprehensive income — (1,492 ) — (1,492 ) AOCL, September 30, 2014 $ — $ (405 ) $ — $ (405 )
Reclassification out of Accumulated Other Comprehensive Loss	Reclassifications out of AOCL for the three months ended September 30, 2015 and 2014 , respectively consisted of the following (in thousands): Three Months Ended September 30, Details about AOCL components 2015 2014 Affected line item in the Income Statement Gains and losses on cash flow hedges: Forward starting interest rate swaps $ 525 $ 505 Interest expense Currency exchange contracts (3,373 ) 82 Other expense (income), net Total before tax (2,848 ) 587 Tax expense (benefit) 1,082 (223 ) Provision for income taxes Net of tax $ (1,766 ) $ 364 Postretirement benefit plans: Amortization of transition obligations $ 21 $ 21 See note 9 for further details Amortization of prior service credit (110 ) (98 ) See note 9 for further details Recognition of actuarial losses 1,914 1,208 See note 9 for further details Total before taxes 1,825 1,131 Tax (benefit) (606 ) (377 ) Provision for income taxes Net of tax $ 1,219 $ 754
Income Tax Allocated to Each Component of Other Comprehensive Income [Table Text Block]	The amount of income tax allocated to each component of other comprehensive (loss) for the three months ended September 30, 2015 and 2014 : Three Months Ended September 30, 2015 2014 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Unrealized gain on derivatives designated and qualified as cash flow hedges $ 847 $ (322 ) $ 525 $ 2,431 $ (924 ) $ 1,507 Reclassification of unrealized (gain) loss on expired derivatives designated and qualified as cash flow hedges (2,848 ) 1,082 (1,766 ) 587 (223 ) 364 Unrecognized net pension and other postretirement benefit gain 1,267 (268 ) 999 4,978 (1,337 ) 3,641 Reclassification of net pension and other postretirement benefit loss 1,825 (606 ) 1,219 1,131 (377 ) 754 Foreign currency translation adjustments (18,905 ) 56 (18,849 ) (54,844 ) 3,331 (51,513 ) Other comprehensive (loss) $ (17,814 ) $ (58 ) $ (17,872 ) $ (45,717 ) $ 470 $ (45,247 )

Goodwill and Other Intangible35

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Sep. 30, 2015
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, is as follows: (in thousands) Industrial Infrastructure Total Gross goodwill $ 455,371 $ 640,360 $ 1,095,731 Accumulated impairment losses (150,842 ) (527,500 ) (678,342 ) Balance as of June 30, 2015 $ 304,529 $ 112,860 $ 417,389 Activity for the three months ended September 30, 2015: Translation (2,213 ) (96 ) (2,309 ) Change in gross goodwill (2,213 ) (96 ) (2,309 ) Gross goodwill 453,158 640,264 1,093,422 Accumulated impairment losses (150,842 ) (527,500 ) (678,342 ) Balance as of September 30, 2015 $ 302,316 $ 112,764 $ 415,080
The components of intangible assets	The components of our other intangible assets were as follows: Estimated Useful Life (in years) September 30, 2015 June 30, 2015 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Contract-based 3 to 15 $ 8,505 $ (7,165 ) $ 8,523 $ (6,990 ) Technology-based and other 4 to 20 52,572 (30,062 ) 52,820 (29,723 ) Customer-related 10 to 21 273,501 (93,750 ) 275,796 (90,141 ) Unpatented technology 10 to 30 58,569 (14,859 ) 59,449 (14,426 ) Trademarks 5 to 20 18,491 (12,456 ) 18,575 (12,090 ) Trademarks Indefinite 24,842 — 24,876 — Total $ 436,480 $ (158,292 ) $ 440,039 $ (153,370 )

Segment Data (Tables)

Segment Data (Tables)	3 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Sales and operating income (loss) by segment and segment assets	Our sales and operating income (loss) by segment are as follows: Three Months Ended September 30, (in thousands) 2015 2014 Sales: Industrial $ 313,333 $ 377,858 Infrastructure 242,021 317,083 Total sales $ 555,354 $ 694,941 Operating income (loss): Industrial $ 20,175 $ 44,017 Infrastructure (8,853 ) 19,221 Corporate (4,708 ) (2,217 ) Total operating income 6,614 61,021 Interest expense 6,979 8,210 Other expense (income), net 1,087 (1,813 ) (Loss) income from continuing operations before income taxes $ (1,452 ) $ 54,624

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Details) $ in Millions	3 Months Ended
	Sep. 30, 2014USD ($)
Basis of Presentation [Abstract]
Revision in Cash Flow Statement	$ 8.4

Supplemental Cash Flow Disclo38

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash paid during the period for:
Interest	$ 6,832	$ 9,002
Income taxes	19,838	10,791
Change in accounts payable related to property, plant, and equipment	$ 16,400	$ 6,470

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets	$ 853	$ 2,678
Total assets at fair value	853	2,678
Derivatives Liabilities	0	44
Contingent Consideration	8,700	10,000
Total liabilities at fair value	8,700	10,044
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets	853	2,678
Total assets at fair value	853	2,678
Derivatives Liabilities	0	44
Total liabilities at fair value	0	44
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent Consideration	8,700	10,000
Total liabilities at fair value	$ 8,700	$ 10,000

Fair Value Measurments - Contin

Fair Value Measurments - Contingent Consideration (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2015USD ($)
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Period Over which Contingent Consideration is Payable	15 months
Emura [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, Fair Value Adjustment	$ 1,300

Derivative Instruments and He41

Derivative Instruments and Hedging Activities - Fair Value of Derivatives Designated and Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
Fair value of derivatives
Derivative, Fair Value, Net	$ 853	$ 2,634
Designated as Hedging Instrument [Member]
Fair value of derivatives
Derivative, Fair Value, Net	828	2,626
Not Designated as Hedging Instrument [Member]
Fair value of derivatives
Derivative, Fair Value, Net	25	8
Range Forward Contracts [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Fair value of derivatives
Derivative assets designated as hedging instruments	828	2,626
Range Forward Contracts [Member] | Designated as Hedging Instrument [Member] | Other Current Liabilities [Member]
Fair value of derivatives
Derivative liabilities designated as hedging instruments	0	0
Range Forward Contracts [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member]
Fair value of derivatives
Derivative assets designated as hedging instruments	0	0
Currency Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Fair value of derivatives
Derivative assets designated as hedging instruments	25	52
Currency Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other Current Liabilities [Member]
Fair value of derivatives
Derivative liabilities designated as hedging instruments	$ 0	$ (44)

Derivative Instruments and He42

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, 2015	Sep. 30, 2014
Currency Forward Contracts [Member] | Other Expense Income Net [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, (Gain) Loss Recognized in Income, Net
Other expense (income), net - currency forward contracts	$ (17)	$ (4,896)
Range Forward Contracts [Member] | Cash flow hedging [Member]
(Gains) losses related to cash flow hedges
Gains recognized in other comprehensive loss, net	516	1,507
(Gains) losses reclassified from accumulated other comprehensive loss into other expense (income), net	$ (1,458)	$ 350

Derivative Instruments and He43

Derivative Instruments and Hedging Activities (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Derivative Instruments and Hedging Activities (Textual) [Abstract]
Recognize loss on outstanding derivatives in the next 12 months	$ 0.8
Gains or losses recognized in earnings due to ineffectiveness and excluded from effectiveness testing	0	$ 0
Cash Flow Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 58.2		$ 53.8

Restructuring and Related Cha44

Restructuring and Related Charges - Restructuring Accrual (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Restructuring Reserve [Abstract]
Beginning Balance	$ 20,788	$ 9,002
Restructuring Charges	9,120	1,872
Asset Write-Down	(3,049)	(117)
Translation	(17)	(440)
Cash Expenditures	(8,163)	(3,864)
Ending Balance	18,679	6,453
Industrial [Member]
Restructuring Reserve [Abstract]
Beginning Balance	13,484	6,326
Restructuring Charges	4,967	1,355
Asset Write-Down	(50)	(85)
Translation	(14)	(318)
Cash Expenditures	(6,609)	(2,796)
Ending Balance	11,778	4,482
Industrial [Member] | Severance [Member]
Restructuring Reserve [Abstract]
Beginning Balance	13,456	5,815
Restructuring Charges	4,911	1,256
Asset Write-Down	0	0
Translation	(14)	(295)
Cash Expenditures	6,581	2,721
Ending Balance	11,772	4,055
Industrial [Member] | Facilities [Member]
Restructuring Reserve [Abstract]
Beginning Balance	0	444
Restructuring Charges	50	85
Asset Write-Down	(50)	(85)
Translation	0	(21)
Cash Expenditures	0	29
Ending Balance	0	394
Industrial [Member] | Other [Member]
Restructuring Reserve [Abstract]
Beginning Balance	28	67
Restructuring Charges	6	14
Asset Write-Down	0	0
Translation	0	(2)
Cash Expenditures	28	46
Ending Balance	6	33
Infrastructure [Member]
Restructuring Reserve [Abstract]
Beginning Balance	7,304	2,676
Restructuring Charges	4,153	517
Asset Write-Down	(2,999)	(32)
Translation	(3)	(122)
Cash Expenditures	(1,554)	(1,068)
Ending Balance	6,901	1,971
Infrastructure [Member] | Severance [Member]
Restructuring Reserve [Abstract]
Beginning Balance	7,173	2,458
Restructuring Charges	1,152	479
Asset Write-Down	0	0
Translation	(3)	(113)
Cash Expenditures	1,544	1,039
Ending Balance	6,778	1,785
Infrastructure [Member] | Facilities [Member]
Restructuring Reserve [Abstract]
Beginning Balance	131	190
Restructuring Charges	2,999	32
Asset Write-Down	(2,999)	(32)
Translation	0	(8)
Cash Expenditures	9	11
Ending Balance	122	171
Infrastructure [Member] | Other [Member]
Restructuring Reserve [Abstract]
Beginning Balance	0	28
Restructuring Charges	2	6
Asset Write-Down	0	0
Translation	0	(1)
Cash Expenditures	1	18
Ending Balance	$ 1	$ 15

Restructuring and Related Cha45

Restructuring and Related Charges - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	$ 15,110	$ 7,425
Restructuring Charges	9,120	1,872
Restructuring Charges Related to Inventory Disposals		309
Industrial [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	4,967	1,355
Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	4,153	517
Phase 1 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	56,682
Phase 1 [Member] | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	55,000
Phase 1 [Member] | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	$ 60,000
Phase 1 [Member] | Industrial [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Percent	50.00%
Restructuring and Related Cost, Cost Incurred to Date	$ 30,035
Phase 1 [Member] | Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Percent	50.00%
Restructuring and Related Cost, Cost Incurred to Date	$ 24,450
Phase 1 [Member] | Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	2,197
Phase 2 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	32,198
Phase 2 [Member] | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	90,000
Phase 2 [Member] | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	$ 100,000
Phase 2 [Member] | Industrial [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Percent	85.00%
Restructuring and Related Cost, Cost Incurred to Date	$ 19,516
Phase 2 [Member] | Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Percent	15.00%
Restructuring and Related Cost, Cost Incurred to Date	$ 9,383
Phase 2 [Member] | Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	3,299
Phase 3 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	$ 3,437
Phase 3 [Member] | Industrial [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Percent	50.00%
Restructuring and Related Cost, Cost Incurred to Date	$ 434
Phase 3 [Member] | Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Percent	50.00%
Restructuring and Related Cost, Cost Incurred to Date	$ 1,554
Phase 3 [Member] | Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	1,449
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Related Charges Recorded in Cost of Goods Sold	1,600	3,400
Operating Expense [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Related Charges Recorded in Cost of Goods Sold	$ 4,400	$ 2,100

Stock-Based Compensation - Gran

Stock-Based Compensation - Grants Valuation Assumptions (Details) - Stock Option [Member]		3 Months Ended
		Sep. 30, 2015	Sep. 30, 2014
Assumptions used in valuation of stock options
Risk-free interest rate		1.40%	1.50%
Expected life	[1]	4 years 6 months	4 years 6 months
Expected volatility	[2]	31.00%	32.70%
Expected dividend yield		2.00%	1.60%
[1]	Expected life is derived from historical experience.
[2]	Expected volatility is based on the implied historical volatility of our stock.

Stock-Based Compensation - Chan

Stock-Based Compensation - Changes in Stock Options (Details)	3 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares
Changes in stock options
Options outstanding, June 30, 2014	2,094,037
Options, Granted	625,845
Options, Exercised	(9,830)
Options, Lapsed and Forfeited	(83,151)
Options outstanding, March 31, 2015	2,626,901
Options vested and expected to vest, March 31, 2015	2,539,198
Options exercisable, March 31, 2015	1,732,201
Weighted Average Exercise Price, Options outstanding, June 30, 2014 | $ / shares	$ 36.08
Weighted Average Exercise Price, Granted | $ / shares	31.48
Weighted Average Exercise Price, Exercised | $ / shares	25.86
Weighted Average Exercise Price, Lapsed and Forfeited | $ / shares	36.56
Weighted Average Exercise Price, Options outstanding, March 31, 2015 | $ / shares	35
Weighted Average Exercise Price, Option vested and expected to vest, March 31, 2015 | $ / shares	35.05
Weighted Average Exercise Price, Options exercisable, March 31, 2015 | $ / shares	$ 35.23
Weighted Average Remaining Life, Options outstanding, March 31, 2015	5 years 5 months
Weighted Average Remaining Life, Options vested and expected to vest, March 31, 2015	5 years 2 months
Weighted Average Remaining Life, Options exercisable, March 31, 2015	3 years 3 months
Aggregate Intrinsic value, Options outstanding, March 31, 2015 | $	$ 551,000
Aggregate Intrinsic Value, Options vested and expected to vest, March 31, 2015 | $	551,000
Aggregate Intrinsic Value, Options exercisable, March 31, 2015 | $	$ 551,000

Stock-Based Compensation - Ch48

Stock-Based Compensation - Changes in Restricted Stock Units (Details)	3 Months Ended
	Sep. 30, 2015$ / sharesshares
Restricted Stock Units - Performance Vesting [Member]
Changes in restricted stock awards
Unvested restricted stock awards, June 30, 2014, Shares	101,245
Granted, Shares	117,589
Vested, Shares	0
Performance Metric Not Achieved, Shares	(42,697)
Forfeited, Shares	(15,703)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares	$ 35.93
Unvested restricted stock awards, March 31, 2015	160,434
Weighted Average Fair Value, Unvested restricted stock awards, June 30, 2014 | $ / shares	$ 43
Weighted Average Fair Value, Granted | $ / shares	31.60
Weighted Average Fair Value, Vested | $ / shares	0
Weighted Average Fair Value, Performance Metric Not Achieved | $ / shares	31.60
Weighted Average Fair Value, Unvested restricted stock awards, March 31, 2015 | $ / shares	$ 35.53
Restricted Stock Units - Time Vesting [Member]
Changes in restricted stock awards
Unvested restricted stock awards, June 30, 2014, Shares	689,268
Granted, Shares	468,066
Vested, Shares	(242,676)
Forfeited, Shares	(46,419)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares	$ 39.44
Unvested restricted stock awards, March 31, 2015	868,239
Weighted Average Fair Value, Unvested restricted stock awards, June 30, 2014 | $ / shares	$ 41.53
Weighted Average Fair Value, Granted | $ / shares	31.60
Weighted Average Fair Value, Vested | $ / shares	41.14
Weighted Average Fair Value, Unvested restricted stock awards, March 31, 2015 | $ / shares	$ 36.38

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Stock-Based Compensation (Additional Textual) [Abstract]
Maximum period of achievement of performance goals to earn performance units	3 years
Minimum performance period of individual required to earn performance units	3 years
Stock Option [Member]
Stock-Based Compensation (Textual) [Abstract]
Compensation expense related to stock option	$ 1.3	$ 2.3
Unrecognized compensation cost	$ 4.4
Unrecognized compensation costs, weighted average period	2 years 6 months
Weighted average fair value of options granted	$ 7.17	$ 10.56
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value	$ 1.9	$ 4.3
Tax benefits resulting from stock-based compensation deductions (less than) in excess of amounts reported for financial reporting purposes	(1.4)	1.3
Cash received from the exercise of capital stock option		4.5
Tax benefit from the exercise of capital stock option		1.1
Total Intrinsic value of options exercised		2.9
Restricted Stock Units - Time Vesting Performance Vesting [Member]
Stock-Based Compensation (Textual) [Abstract]
Compensation expense related to stock option	5.7	$ 7.6
Unrecognized compensation cost	$ 21.2
Unrecognized compensation costs, weighted average period	2 years 6 months

Benefit Plans - Components of N

Benefit Plans - Components of Net Periodic Pension Income (Details) - Pension plans contribution [Member] - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Net periodic pension (income)
Service cost	$ 1,163	$ 1,415
Interest cost	9,485	9,936
Expected return on plan assets	(14,709)	(15,047)
Amortization of transition obligation	21	21
Amortization of prior service credit	(104)	(70)
Recognition of actuarial losses	1,833	1,001
Special Termination Benefits Charge	54	0
Net periodic pension (income)	$ (2,257)	$ (2,744)

Benefit Plans - Components of51

Benefit Plans - Components of Net Periodic Other Postretirement Benefit Cost (Details) - Other postretirement benefit plans [Member] - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Net periodic other postretirement benefit costs
Service cost	$ 0	$ 27
Interest cost	210	259
Amortization of prior service credit	(6)	(28)
Recognition of actuarial loss (gains)	81	207
Net periodic other postretirement benefit cost	$ 285	$ 465

Benefit Plans Benefit Plans - N

Benefit Plans Benefit Plans - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Special Termination Benefits Charge	$ 54	$ 0

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
Inventories
Finished goods	$ 323,753	$ 324,840
Work in process and powder blends	203,190	249,629
Raw materials	85,315	100,881
Inventories at current cost	612,258	675,350
Less: LIFO valuation	(62,650)	(99,819)
Total inventories	$ 549,608	$ 575,531
Inventories (Textual) [Abstract]
Percentage of inventories valued by using LIFO method	43.00%	47.00%

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2015	Jun. 30, 2015	Oct. 21, 2011
Long-Term Debt (Additional Textual) [Abstract]
Fixed rate at fair market value	$ 706.3	$ 698
2011 Credit Agreement [Member]
Long-Term Debt (Textual) [Abstract]
Borrowing outstanding under 2011 Credit Agreement	$ 42.1	$ 42.8
Line of Credit Facility, Maximum Borrowing Capacity			$ 600

Environmental Matters (Details)

Environmental Matters (Details) - USD ($) $ in Millions	Sep. 30, 2015	Jun. 30, 2015
Environmental Remediation Obligations [Abstract]
Reserves for Environmental Costs	$ 12.5	$ 12.6

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Income Tax (Textual) [Abstract]
Effective tax rate	(292.80%)	26.50%
Non-recurring tax charge	$ 4.2

Earnings Per Shares (Details)

Earnings Per Shares (Details) shares in Millions	3 Months Ended
	Sep. 30, 2014shares
Earnings Per Share (Textual) [Abstract]
Increase in weighted average shares due to dilutive effect of unexercised capital stock options and unvested restricted stock units	0.8
Unexercised capital stock options and restricted stock units excluded from computation of diluted EPS	0.6

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Beginning Balance	$ 1,375,435	$ 1,961,608
Net (loss) income	(5,704)	40,127
Other comprehensive loss	(17,872)	(45,247)
Dividend reinvestment	80	79
Capital stock issued under employee benefit and stock plans	3,145	11,978
Purchase of capital stock	(80)	(79)
Cash dividends paid	(15,915)	(14,212)
Ending Balance	1,339,089	1,954,254
Capital stock [Member]
Beginning Balance	99,219	98,340
Dividend reinvestment	4	2
Capital stock issued under employee benefit and stock plans	289	512
Purchase of capital stock	(4)	(2)
Ending Balance	99,508	98,852
Additional paid-in capital [Member]
Beginning Balance	419,829	395,890
Dividend reinvestment	76	77
Capital stock issued under employee benefit and stock plans	2,856	11,466
Purchase of capital stock	(76)	(77)
Ending Balance	422,685	407,356
Retained earnings [Member]
Beginning Balance	1,070,282	1,501,157
Net (loss) income	(6,226)	39,488
Cash dividends paid	(15,915)	(14,212)
Ending Balance	1,048,141	1,526,433
Accumulated other comprehensive (loss) income [Member]
Beginning Balance	(243,523)	(66,131)
Other comprehensive loss	(17,333)	(43,755)
Ending Balance	(260,856)	(109,886)
Non-controlling interest [Member]
Beginning Balance	29,628	32,352
Net (loss) income	522	639
Other comprehensive loss	(539)	(1,492)
Cash dividends paid	0	0
Ending Balance	$ 29,611	$ 31,499

Accumulated Other Comprehensi59

Accumulated Other Comprehensive (Loss) Income - Components of and Changes in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive (Loss) Income, Net of Tax	$ (243,523)	$ (66,131)
Other comprehensive (loss) income before reclassifications	(16,786)	(44,873)
Amounts reclassified from accumulated other comprehensive loss	(547)	1,118
Net current period other comprehensive (loss) income	(17,333)	(43,755)
Accumulated Other Comprehensive (Loss) Income, Net of Tax	(260,856)	(109,886)
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive (Loss) Income, Net of Tax	(138,793)	(93,742)
Other comprehensive (loss) income before reclassifications	999	3,641
Amounts reclassified from accumulated other comprehensive loss	1,219	754
Net current period other comprehensive (loss) income	2,218	4,395
Accumulated Other Comprehensive (Loss) Income, Net of Tax	(136,575)	(89,347)
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive (Loss) Income, Net of Tax	(97,309)	38,811
Other comprehensive (loss) income before reclassifications	(18,310)	(50,021)
Net current period other comprehensive (loss) income	(18,310)	(50,021)
Accumulated Other Comprehensive (Loss) Income, Net of Tax	(115,619)	(11,210)
Accumulated Net (Loss) Gain from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive (Loss) Income, Net of Tax	(7,421)	(11,200)
Other comprehensive (loss) income before reclassifications	525	1,507
Amounts reclassified from accumulated other comprehensive loss	(1,766)	364
Net current period other comprehensive (loss) income	(1,241)	1,871
Accumulated Other Comprehensive (Loss) Income, Net of Tax	(8,662)	(9,329)
Noncontrolling Interest [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive (Loss) Income, Net of Tax	(2,258)	1,087
Other comprehensive (loss) income before reclassifications	(539)	(1,492)
Net current period other comprehensive (loss) income	(539)	(1,492)
Accumulated Other Comprehensive (Loss) Income, Net of Tax	$ (2,797)	$ (405)

Accumulated Other Comprehensi60

Accumulated Other Comprehensive (Loss) Income - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Loss [Line Items]
Currency exchange contracts	$ (1,087)	$ 1,813
Recognition of actuarial losses	1,825	1,131
Tax expense (benefit)	(4,252)	(14,497)
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	(2,848)	587
Tax expense (benefit)	1,082	(223)
Net of tax	(1,766)	364
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	21	21
Amortization of prior service credit	(110)	(98)
Recognition of actuarial losses	1,914	1,208
Total before tax	1,825	1,131
Tax expense (benefit)	(606)	(377)
Net of tax	1,219	754
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	525	505
Reclassification out of Accumulated Other Comprehensive Loss[Member] | Currency Forward Contracts [Member] | Accumulated Net (Loss) Gain from Designated or Qualifying Cash Flow Hedges [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Loss [Line Items]
Currency exchange contracts	$ (3,373)	$ 82

Accumulated Other Comprehensi61

Accumulated Other Comprehensive (Loss) Income Other Comprehensive Income - Income Tax Allocated to Each Component (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Other Comprehensive Income - Income Tax Allocated to Each Component [Abstract]
Unrealized gain on derivatives designated and qualified as cash flow hedges, before tax	$ 847	$ 2,431
Unrealized gain on derivatives designated and qualified as cash flow hedges, tax	(322)	(924)
Unrealized gain on derivatives designated and qualified as cash flow hedges, net of tax	525	1,507
Reclassification of unrealized (gain) loss on expired derivatives designated and qualified as cash flow hedges, before tax	(2,848)	587
Reclassification of unrealized (gain) loss on expired derivatives designated and qualified as cash flow hedges, tax	1,082	(223)
Reclassification of unrealized (gain) loss on expired derivatives designated and qualified as cash flow hedges, net of tax	(1,766)	364
Unrecognized net pension and other postretirement benefit gain, before tax	1,267	4,978
Unrecognized net pension and other postretirement benefit gain, tax	(268)	(1,337)
Unrecognized net pension and other postretirement benefit gain, net of tax	999	3,641
Reclassification of net pension and other postretirement benefit loss, before tax	1,825	1,131
Reclassification of net pension and other postretirement benefit loss, tax	(606)	(377)
Reclassification of net pension and other postretirement benefit loss, net of tax	1,219	754
Foreign currency translation adjustment, before tax	(18,905)	(54,844)
Foreign currency translation adjustment, tax	56	3,331
Foreign currency translation adjustment, net of tax	(18,849)	(51,513)
Other comprehensive (loss), before tax	(17,814)	(45,717)
Other comprehensive (loss), tax	(58)	470
Other comprehensive (loss), net of tax	$ (17,872)	$ (45,247)

Goodwill and Other Intangible62

Goodwill and Other Intangible Assets - Carrying Amount of Goodwill Attributable to Each Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Jun. 30, 2015
Goodwill [Roll Forward]
Goodwill	$ 1,093,422	$ 1,095,731
Accumulated impairment losses	(678,342)	(678,342)
Goodwill, Beginning Balance	417,389
Translation	(2,309)
Change in goodwill	(2,309)
Goodwill, Ending Balance	415,080
Industrial [Member]
Goodwill [Roll Forward]
Goodwill	453,158	455,371
Accumulated impairment losses	(150,842)	(150,842)
Goodwill, Beginning Balance	304,529
Translation	(2,213)
Change in goodwill	(2,213)
Goodwill, Ending Balance	302,316
Infrastructure [Member]
Goodwill [Roll Forward]
Goodwill	640,264	640,360
Accumulated impairment losses	(527,500)	$ (527,500)
Goodwill, Beginning Balance	112,860
Translation	(96)
Change in goodwill	(96)
Goodwill, Ending Balance	$ 112,764

Goodwill and Other Intangible63

Goodwill and Other Intangible Assets - Components of Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Jun. 30, 2015
The components of intangible assets
Accumulated amortization	$ (158,292)	$ (153,370)
Intangible Assets, Gross (Excluding Goodwill)	436,480	440,039
Trademarks [Member]
The components of intangible assets
Gross carrying amount, Indefinite	24,842	24,876
Contract-based [Member]
The components of intangible assets
Gross carrying amount, finite	8,505	8,523
Accumulated amortization	(7,165)	(6,990)
Technology-based and other [Member]
The components of intangible assets
Gross carrying amount, finite	52,572	52,820
Accumulated amortization	(30,062)	(29,723)
Customer-related [Member]
The components of intangible assets
Gross carrying amount, finite	273,501	275,796
Accumulated amortization	(93,750)	(90,141)
Unpatented technology [Member]
The components of intangible assets
Gross carrying amount, finite	58,569	59,449
Accumulated amortization	(14,859)	(14,426)
Trademarks [Member]
The components of intangible assets
Gross carrying amount, finite	18,491	18,575
Accumulated amortization	$ (12,456)	$ (12,090)
Minimum [Member] | Contract-based [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	3 years
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] | Contract-based [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	15 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

Goodwill and Other Intangible64

Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015	Mar. 31, 2015
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Goodwill	$ 415,080		$ 417,389
Amortization expense for intangible assets	6,247	$ 7,027
Unfavorable foreign currency translation adjustment	(700)
Infrastructure [Member]
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Goodwill	112,764		$ 112,860
Infrastructure [Member] | Portfolio of Businesses for Strategic Alternatives [Member]
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Net Book Value	$ 40,000
Industrial Reporting Unit [Member]
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount				90.00%

Segment Data - Sales and Operat

Segment Data - Sales and Operating Income (Loss) by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
External sales:
Total sales	$ 555,354	$ 694,941
Operating income (loss):
Total operating income	6,614	61,021
Interest expense	6,979	8,210
Other expense (income), net	1,087	(1,813)
(Loss) income before income taxes	(1,452)	54,624
Industrial [Member]
External sales:
Total sales	313,333	377,858
Operating income (loss):
Total operating income	20,175	44,017
Infrastructure [Member]
External sales:
Total sales	242,021	317,083
Operating income (loss):
Total operating income	(8,853)	19,221
Corporate [Member]
Operating income (loss):
Total operating income	$ (4,708)	$ (2,217)

Subsequent Events (Details)

Subsequent Events (Details) - Non-Core Businesses Sold to Madison Industries [Member] $ in Thousands	Sep. 30, 2015USD ($)
Subsequent Event [Line Items]
Proceeds from Divestiture of Businesses	$ 70,000
Minimum [Member]
Subsequent Event [Line Items]
Estimated Loss on Divestiture	100,000
Net Book Value	170,000
Maximum [Member]
Subsequent Event [Line Items]
Estimated Loss on Divestiture	120,000
Net Book Value	$ 200,000