Kennametal (KMT) 10-Q 6 May 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2016	Apr. 29, 2016
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	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		79,689,781

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Sales	$ 497,837	$ 638,970	$ 1,577,212	$ 2,009,543
Cost of goods sold	340,484	439,500	1,127,828	1,392,516
Gross profit	157,353	199,470	449,384	617,027
Operating expense	121,004	138,025	373,827	423,972
Restructuring and asset impairment charges (Notes 8 and 18)	7,142	175,435	128,498	565,837
Loss on divestiture (Note 5)	(2,557)	0	130,750	0
Amortization of intangibles	4,429	6,402	16,315	20,361
Operating income (loss)	27,335	(120,392)	(200,006)	(393,143)
Interest expense	7,113	7,760	20,895	23,929
Other (income) expense, net	(1,938)	(378)	(1,582)	32
Income (loss) before income taxes	22,160	(127,774)	(219,319)	(417,104)
Provision (benefit) for income taxes	5,465	(82,223)	(61,499)	(23,975)
Net income (loss)	16,695	(45,551)	(157,820)	(393,129)
Less: Net income attributable to noncontrolling interests	695	678	1,634	1,914
Net income (loss) attributable to Kennametal	$ 16,000	$ (46,229)	$ (159,454)	$ (395,043)
PER SHARE DATA ATTRIBUTABLE TO KENNAMETAL SHAREHOLDERS
Basic earnings (loss) per share	$ 0.20	$ (0.58)	$ (2)	$ (4.98)
Diluted earnings (loss) per share	0.20	(0.58)	(2)	(4.98)
Dividends per share	$ 0.20	$ 0.18	$ 0.60	$ 0.54
Basic weighted average shares outstanding	79,871	79,389	79,814	79,282
Diluted weighted average shares outstanding	80,224	79,389	79,814	79,282

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 16,695	$ (45,551)	$ (157,820)	$ (393,129)
Other comprehensive income (loss), net of tax [Abstract]
Unrealized (loss) gain on derivatives designated and qualified as cash flow hedges	(637)	3,025	165	5,738
Reclassification of unrealized loss (gain) on expired derivatives designated and qualified as cash flow hedges	238	(705)	(1,946)	(376)
Unrecognized net pension and other postretirement benefit (loss) gain	(888)	4,293	1,561	9,858
Reclassification of net pension and other postretirement benefit loss	1,219	685	3,641	2,174
Foreign currency translation adjustments	17,783	(79,496)	(24,705)	(161,218)
Reclassification of foreign currency translation adjustment (gain) loss realized upon sale	(1,940)	0	15,088	0
Total other comprehensive income (loss), net of tax	15,775	(72,198)	(6,196)	(143,824)
Total comprehensive income (loss)	32,470	(117,749)	(164,016)	(536,953)
Less: comprehensive income (loss) attributable to noncontrolling interests	1,222	(585)	1,094	(1,623)
Comprehensive income (loss) attributable to Kennametal Shareholders	$ 31,248	$ (117,164)	$ (165,110)	$ (535,330)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Current assets:
Cash and cash equivalents	$ 136,564	$ 105,494
Accounts receivable, less allowance for doubtful accounts of $11,931 and $13,560, respectively	365,827	445,373
Inventories (Note 11)	485,390	575,531
Deferred income taxes	56,318	72,449
Other current assets	55,161	59,699
Total current assets	1,099,260	1,258,546
Property, plant and equipment:
Land and buildings	356,056	401,207
Machinery and equipment	1,529,682	1,573,597
Less accumulated depreciation	(1,160,203)	(1,158,979)
Property, plant and equipment, net	725,535	815,825
Other assets:
Investments in affiliated companies	2	361
Goodwill (Note 18)	302,109	417,389
Other intangible assets, less accumulated amortization of $110,664 and $153,370, respectively (Note 18)	212,709	286,669
Deferred income taxes	75,837	24,091
Other	76,487	46,648
Total other assets	667,144	775,158
Total assets	2,491,939	2,849,529
Current liabilities:
Current maturities of long-term debt and capital leases	733	8,129
Notes payable to banks	3,407	7,573
Accounts payable	169,332	187,381
Accrued income taxes	29,289	25,237
Accrued expenses	66,078	75,746
Other current liabilities	152,576	178,678
Total current liabilities	421,415	482,744
Long-term debt and capital leases, less current maturities (Note 12)	699,750	735,885
Deferred income taxes	15,572	59,744
Accrued pension and postretirement benefits	153,104	163,029
Accrued income taxes	2,247	3,002
Other liabilities	25,040	29,690
Total liabilities	$ 1,317,128	$ 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; 79,679 and 79,375 shares issued, respectively	99,599	99,219
Additional paid-in capital	430,692	419,829
Retained earnings	863,048	1,070,282
Accumulated other comprehensive loss	(249,179)	(243,523)
Total Kennametal Shareholders' Equity	1,144,160	1,345,807
Noncontrolling interests	30,651	29,628
Total equity	1,174,811	1,375,435
Total liabilities and equity	$ 2,491,939	$ 2,849,529

CONDENSED CONSOLIDATED BALANCE5

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 11,931	$ 13,560
Accumulated amortization on other intangible assets	$ 110,664	$ 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	79,679	79,375

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
OPERATING ACTIVITIES
Net (loss) income	$ (157,820)	$ (393,129)
Adjustments for non-cash items:
Depreciation	73,297	79,281
Amortization	16,315	20,361
Stock-based compensation expense	14,705	14,252
Restructuring and asset impairment charges (Notes 8 and 18)	111,922	543,942
Deferred income tax provision	(85,426)	(51,766)
Loss on divestiture (Note 5)	130,750	0
Other	239	2,632
Changes in certain assets and liabilities:
Accounts receivable	44,125	34,287
Inventories	47,778	6,582
Accounts Payable and Accrued Liabilities	(16,244)	(21,690)
Accrued income taxes	(12,989)	(9,874)
Accrued pension and postretirement benefits	(22,901)	(12,369)
Other	1,663	7,067
Net cash flow provided by operating activities	145,414	219,576
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(83,285)	(77,620)
Disposals of property, plant and equipment	5,102	1,300
Proceeds from divestiture (Note 5)	61,100	0
Other	835	43
Net cash flow used for investing activities	(16,248)	(76,277)
FINANCING ACTIVITIES
Net (decrease) increase in notes payable	(4,088)	17,090
Net increase in short-term revolving and other lines of credit	0	3,600
Term debt borrowings	50,070	62,950
Term debt repayments	(94,337)	(212,638)
Purchase of capital stock	(231)	(244)
Dividend reinvestment and the effect of employee benefit and stock plans	1,713	10,977
Cash dividends paid to shareholders	(47,780)	(42,699)
Other	(55)	(3,824)
Net cash flow used for financing activities	(94,708)	(164,788)
Effect of exchange rate changes on cash and cash equivalents	(3,388)	(10,265)
CASH AND CASH EQUIVALENTS
Net increase (decrease) in cash and cash equivalents	31,070	(31,754)
Cash and cash equivalents, beginning of period	105,494	177,929
Cash and cash equivalents, end of period	$ 136,564	$ 146,175

Organization

Organization	9 Months Ended
	Mar. 31, 2016
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	9 Months Ended
	Mar. 31, 2016
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 recurring adjustments. The results for the nine months ended March 31, 2016 and 2015 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.

New Accounting Standards

New Accounting Standards	9 Months Ended
	Mar. 31, 2016
Accounting Changes and Error Corrections [Abstract]
NEW ACCOUNTING STANDARDS	NEW ACCOUNTING STANDARDS Adopted In April 2014, the Financial Accounting Standards Board (FASB) issued guidance on reporting discontinued operations and disclosures of disposals of components of an entity. Under the guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Additionally, the 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 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. The transaction outlined in Note 5 was evaluated under this guidance. Issued In April 2016, the FASB issued guidance on identifying performance obligations and licensing as part of Topic 606: Revenue from Contracts with Customers. The amendments in this update clarify identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. This standard is effective for Kennametal beginning July 1, 2018, in conjunction with the adoption of Accounting Standards Update 2014-09, “Revenue from Contracts with Customers: Topic 606.” We are in the process of assessing the impact the adoption of this guidance will have on our condensed consolidated financial statements. In March 2016, the FASB issued guidance intended to simplify equity-based award accounting and presentation. The guidance impacts income tax accounting related to equity-based awards, the classification of awards as either equity or liabilities, and the classification on the statement of cash flows. This standard is effective for Kennametal beginning July 1, 2017. We are in the process of assessing the impact the adoption of this guidance will have on our condensed consolidated financial statements. In March 2016, the FASB issued guidance on principal versus agent considerations in reporting revenue gross versus net. This guidance is intended to improve the operability and understandability of the implementation guidance on principal versus agent considerations. As this update serves to clarify existing guidance, it is not expected to have a material impact on our condensed consolidated financial statements. In February 2016, the FASB issued guidance on lease accounting, which replaces the existing guidance in ASC 840, Leases . The standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. This standard is effective for Kennametal beginning July 1, 2019. We are in the process of assessing the impact the adoption of this guidance will have on our condensed consolidated financial statements.

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	9 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Nine Months Ended March 31, (in thousands) 2016 2015 Cash paid during the period for: Interest $ 20,056 $ 23,981 Income taxes 38,429 35,700 Supplemental disclosure of non-cash information: Changes in accounts payable related to purchases of property, plant and equipment 16,400 6,470

Divestiture Divestiture

Divestiture Divestiture	9 Months Ended
	Mar. 31, 2016
Divestiture [Abstract]
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	DIVESTITURE During the nine months ended March 31, 2016 , Kennametal completed the transaction to sell all of the outstanding capital stock of: Kennametal Extrude Hone LLC 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") to Madison Industries for an aggregate price of $61.1 million cash, net of cash. A portion of the transaction proceeds were used to pay down revolver debt and the remaining balance is being held as cash on hand. The net book value of these non-core businesses was $191.9 million , which includes the impact of cumulative translation adjustments and a refinement to our estimated working capital adjustment. We recognized a pre-tax loss on the sale of $133.3 million during the three months ended December 31, 2015 which included the impact of estimated working capital adjustments, deal costs and transaction costs. We recorded a pre-tax net gain on divestiture during the three months ended March 31, 2016 of approximately $2.6 million , which consists primarily of the write-off of the currency translation adjustments of a legal entity liquidated in the March quarter, partially offset by a refinement to our estimated working capital adjustment. The pre-tax net loss on divestiture during the nine months ended March 31, 2016 is $130.8 million , of which $127.2 million and $3.6 million were recorded in the Infrastructure and Industrial segments, respectively. The pre-tax income attributable to the non-core businesses was assessed and determined to be immaterial for disclosure for the periods presented.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Mar. 31, 2016
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 March 31, 2016 , 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) $ — $ 155 $ — $ 155 Total assets at fair value $ — $ 155 $ — $ 155 Liabilities: Derivatives (1) $ — $ 311 $ — $ 311 Contingent consideration — — 8,600 8,600 Total liabilities at fair value $ — $ 311 $ 8,600 $ 8,911 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. There have been no changes in classification and transfers between levels in the fair value hierarchy in the current period. 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 9 months and is recorded in other current liabilities in our condensed consolidated balance sheet. The Company reassessed this contingent consideration and determined that an adjustment of $1.4 million to reduce the fair value of the remaining contingent consideration was necessary during the nine months ended March 31, 2016 due to a return of inventory to the seller during the period. No other changes in the expected outcome have occurred during the nine months ended March 31, 2016 .

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
	Mar. 31, 2016
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 (income) expense, net. The fair value of derivatives designated and not designated as hedging instruments in the condensed consolidated balance sheet are as follows: (in thousands) March 31, June 30, Derivatives designated as hedging instruments Other current assets - range forward contracts $ 12 $ 2,626 Other current liabilities - range forward contracts (285 ) — Other liabilities - range forward contracts (7 ) — Total derivatives designated as hedging instruments (280 ) 2,626 Derivatives not designated as hedging instruments Other current assets - currency forward contracts 143 52 Other current liabilities - currency forward contracts (19 ) (44 ) Total derivatives not designated as hedging instruments 124 8 Total derivatives $ (156 ) $ 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 (income) expense, net. Gains related to derivatives not designated as hedging instruments have been recognized as follows: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2016 2015 2016 2015 Other (income) expense, net - currency forward contracts $ (182 ) $ 3,386 $ (116 ) $ (3,783 ) 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 (income) expense, 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 March 31, 2016 and June 30, 2015 , was $63.8 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 March 31, 2016 , we expect to recognize into earnings in the next 12 months $0.4 million of income on outstanding derivatives. The following represents gains and losses related to cash flow hedges: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2016 2015 2016 2015 (Losses) gains recognized in other comprehensive loss, net $ (914 ) $ 3,025 $ (637 ) $ 5,738 Losses (gains) reclassified from accumulated other comprehensive loss into other (income) expense, net $ 629 $ (48 ) $ 293 $ 453 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 nine months ended March 31, 2016 and 2015 .

Restructuring and Related Charg

Restructuring and Related Charges	9 Months Ended
	Mar. 31, 2016
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 Tungsten Materials Business (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 up to $60 million , which is expected to be approximately 50 percent Industrial, 45 percent Infrastructure and 5 percent Corporate. Total restructuring and related charges since inception of $58.3 million have been recorded for these Phase 1 programs through March 31, 2016 : $30.4 million in Industrial, $25.5 million in Infrastructure and $2.4 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 of fiscal 2019 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, 10 percent Infrastructure and 5 percent Corporate. Total restructuring and related charges since inception of $42.3 million have been recorded for these Phase 2 programs through March 31, 2016 : $25.3 million in Industrial, $11.8 million in Infrastructure and $5.2 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 of fiscal 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 55 percent Industrial, 40 percent Infrastructure and 5 percent Corporate. Total restructuring and related charges since inception of $14.5 million have been recorded for these Phase 3 programs through March 31, 2016 : $8.4 million in Industrial, $4.5 million in Infrastructure and $1.6 million in Corporate. Combined We have recorded restructuring and related charges of $14.0 million and $16.7 million for the three months ended March 31, 2016 and 2015 , respectively. Of these amounts, restructuring charges totaled $7.5 million and $15.7 million , respectively. Restructuring charges of $0.4 million during the three months ended March 31, 2016 were charges related to inventory and were recorded in cost of goods sold. Restructuring-related charges of $1.1 million and $0.3 million were recorded in cost of goods sold and $5.4 million and $0.7 million in operating expense for the three months ended March 31, 2016 and 2015 , respectively. We have recorded restructuring and related charges of $38.0 million and $37.1 million for the nine months ended March 31, 2016 and 2015 , respectively. Of these amounts, restructuring charges totaled $20.1 million and $24.4 million , of which $0.1 million and $0.3 million were charges related to inventory and were recorded in cost of goods sold, respectively. Restructuring-related charges of $4.7 million and $6.5 million were recorded in cost of goods sold and $13.2 million and $6.2 million in operating expense for the nine months ended March 31, 2016 and 2015 , respectively. 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 March 31, 2016 Industrial Severance $ 13,456 $ 12,158 $ — $ 58 $ (17,659 ) $ 8,013 Facilities — 930 (780 ) — (146 ) 4 Other 28 156 — (1 ) (12 ) 171 Total Industrial $ 13,484 $ 13,244 $ (780 ) $ 57 $ (17,817 ) $ 8,188 Infrastructure Severance $ 7,173 $ 4,053 $ — $ 19 $ (5,886 ) $ 5,359 Facilities 131 2,775 (2,775 ) — (101 ) 30 Other — 52 — — 3 55 Total Infrastructure $ 7,304 $ 6,880 $ (2,775 ) $ 19 $ (5,984 ) $ 5,444 Total $ 20,788 $ 20,124 $ (3,555 ) $ 76 $ (23,801 ) $ 13,632 (in thousands) June 30, 2014 Expense Asset Write-Down Other (2) Translation Cash Expenditures March 31, 2015 Industrial Severance $ 5,815 $ 11,565 $ — $ — $ (364 ) $ (7,312 ) $ 9,704 Facilities 444 1,307 (1,261 ) — (31 ) (459 ) — Other 67 37 — — (2 ) (102 ) — Total Industrial $ 6,326 $ 12,909 $ (1,261 ) $ — $ (397 ) $ (7,873 ) $ 9,704 Infrastructure Severance $ 2,458 $ 10,813 $ — $ (459 ) $ (350 ) $ (6,749 ) $ 5,713 Facilities 190 661 (522 ) — (16 ) (279 ) 34 Other 28 6 — — (3 ) (31 ) — Total Infrastructure $ 2,676 $ 11,480 $ (522 ) $ (459 ) $ (369 ) $ (7,059 ) $ 5,747 Total $ 9,002 $ 24,389 $ (1,783 ) $ (459 ) $ (766 ) $ (14,932 ) $ 15,451 (2) Special termination benefit charge for one of our U.S.-based benefit pension plans resulting from a plant closure - see Note 10.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Mar. 31, 2016
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 nine months ended March 31, 2016 and 2015 were as follows: 2016 2015 Risk-free interest rate 1.4 % 1.5 % Expected life (years) (3) 4.5 4.5 Expected volatility (4) 31.7 % 32.5 % Expected dividend yield 2.1 % 1.7 % (3) Expected life is derived from historical experience. (4) Expected volatility is based on the implied historical volatility of our stock. Changes in our stock options for the nine months ended March 31, 2016 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 885,403 28.29 Exercised (38,569 ) 25.02 Lapsed or forfeited (369,945 ) 34.95 Options outstanding, March 31, 2016 2,570,926 $ 33.72 5.1 $ 740 Options vested and expected to vest, March 31, 2016 2,512,561 $ 33.80 5.0 $ 720 Options exercisable, March 31, 2016 1,648,381 $ 35.36 2.9 $ 145 During the nine months ended March 31, 2016 and 2015 , compensation expense related to stock options was $2.8 million and $3.0 million , respectively. As of March 31, 2016 , the total unrecognized compensation cost related to options outstanding was $2.9 million and is expected to be recognized over a weighted average period of 2.1 years . Weighted average fair value of options granted during the nine months ended March 31, 2016 and 2015 was $6.45 per option and $10.16 per option, respectively. Fair value of options vested during the nine months ended March 31, 2016 and 2015 was $2.3 million and $7.4 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 $1.8 million for the nine months ended March 31, 2016 and exceeded amounts reported for financial reporting purposes by $1.6 million for the nine months ended March 31, 2015 . The amount of cash received from the exercise of capital stock options during the nine months ended March 31, 2016 and 2015 was $1.0 million and $8.3 million , respectively. The related tax benefit was immaterial for the nine months ended March 31, 2016 and was $1.6 million during the nine months ended March 31, 2015 . The total intrinsic value of options exercised was immaterial during the nine months ended March 31, 2016 and was $4.3 million during the nine months ended March 31, 2015 . 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 nine months ended March 31, 2016 and 2015 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 nine months ended March 31, 2016 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 31.60 755,787 27.49 Vested — — (284,778 ) 40.80 Performance metric not achieved (42,697 ) 31.60 — — Forfeited (60,670 ) 32.70 (127,995 ) 35.79 Unvested performance vesting and time vesting restricted stock units, March 31, 2016 115,467 $ 36.96 1,032,282 $ 32.13 During the nine months ended March 31, 2016 and 2015 , compensation expense related to time vesting and performance vesting restricted stock units was $11.7 million and $11.1 million , respectively. As of March 31, 2016 , the total unrecognized compensation cost related to unvested time vesting and performance vesting restricted stock units was $16.7 million and is expected to be recognized over a weighted average period of 2.2 years.

Benefit Plans

Benefit Plans	9 Months Ended
	Mar. 31, 2016
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 March 31, Nine Months Ended March 31, (in thousands) 2016 2015 2016 2015 Service cost $ 1,154 $ 1,349 $ 3,473 $ 4,148 Interest cost 9,375 9,575 28,299 29,256 Expected return on plan assets (14,560 ) (14,797 ) (43,924 ) (44,744 ) Amortization of transition obligation 19 18 61 58 Amortization of prior service credit (104 ) (72 ) (313 ) (213 ) Recognition of actuarial losses 1,805 871 5,452 2,809 Curtailment loss — — — 358 Special termination benefit charge — — 214 459 Net periodic pension (income) $ (2,311 ) $ (3,056 ) $ (6,738 ) $ (7,869 ) The special termination benefit charge of $0.2 million during the nine months ended March 31, 2016 is the result of lump sum payments to several terminated Executive Retirement Plan participants. During the three months ended March 31, 2015 we recognized a special termination benefit charge of $0.5 million and a curtailment loss of $0.4 million for one of our U.S.-based defined benefit pension plans resulting from a plant closure. The special termination benefit charge was recognized in restructuring expense. The table below summarizes the components of net periodic other postretirement benefit cost: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2016 2015 2016 2015 Service cost $ — $ 27 $ — $ 81 Interest cost 210 259 630 778 Amortization of prior service credit (6 ) (28 ) (16 ) (83 ) Recognition of actuarial loss 81 207 242 621 Curtailment gain — — — (221 ) Net periodic other postretirement benefit cost $ 285 $ 465 $ 856 $ 1,176 The curtailment gain of $0.2 million recognized during the nine months ended March 31, 2015 was a result of the plant closure discussed above.

Inventories

Inventories	9 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES We used the last-in, first-out (LIFO) method of valuing inventories for 45 percent and 47 percent of total inventories at March 31, 2016 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) March 31, 2016 June 30, 2015 Finished goods $ 300,941 $ 324,840 Work in process and powder blends 180,854 249,629 Raw materials 67,511 100,881 Inventories at current cost 549,306 675,350 Less: LIFO valuation (63,916 ) (99,819 ) Total inventories $ 485,390 $ 575,531

Long-Term Debt

Long-Term Debt	9 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Our $600 million five-year, multi-currency, revolving credit facility, as amended and restated in April 2013 (Credit Agreement) requires us to comply with various affirmative and negative 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 March 31, 2016 . We had no borrowings and $42.8 million of borrowings outstanding under the Credit Agreement as of March 31, 2016 and June 30, 2015 , respectively. Borrowings under the Credit Agreement are guaranteed by our significant domestic subsidiaries. On April 15, 2016, we entered into an amendment to our Credit Agreement that extends the tenor for a new five-year term to April 2021. The prior maturity was scheduled for April 2018. The maximum leverage ratio was increased for a defined, limited period under the new amendment in order to enhance liquidity and increase operating flexibility. Further, the earnings before interest, taxes, depreciation and amortization (EBITDA) definition was amended to allow for up to $120 million of aggregate cash restructuring payment add-backs through December 31, 2017. Other material provisions, including the minimum consolidated interest coverage ratio, remain unchanged. Fixed rate debt had a fair market value of $665.0 million and $698.0 million at March 31, 2016 and June 30, 2015 , respectively. The Level 2 fair value is determined based on the quoted market price of this debt as of March 31, 2016 and June 30, 2015 , respectively.

Environmental Matters

Environmental Matters	9 Months Ended
	Mar. 31, 2016
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 March 31, 2016 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	9 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective income tax rates for the three months ended March 31, 2016 and 2015 were 24.7 percent (provision on income) and 64.4 percent (benefit on a loss) , respectively. The effective income tax rates for the nine months ended March 31, 2016 and 2015 were 28.0 percent (benefit on a loss) and 5.7 percent (benefit on a loss) , respectively. The change in both periods was primarily driven by the asset impairment charges recorded in the current and prior fiscal years, the tax impact on the sale of certain non-core businesses, lower relative U.S. current year earnings compared with the rest of the world in the current periods where the tax rates are generally lower and a favorable impact in the current quarter related to a U.S. provision to return adjustment. The effective income tax rate for the nine months ended March 31, 2016 also includes the favorable effects of the permanent extension of the credit for increasing research activities contained in the Protecting Americans from Tax Hikes Act of 2015 which occurred in the second quarter of this fiscal year.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Mar. 31, 2016
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 purposes of determining the number of diluted shares outstanding, weighted average shares outstanding for basic earnings per share calculations were increased due solely to the dilutive effect of unexercised capital stock options, unvested restricted stock awards and unvested restricted stock units by 0.4 million shares for the three months ended March 31, 2016 . Unexercised capital stock options, restricted stock units and restricted stock awards for the three months ended March 31, 2016 of 3.1 million shares 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. For the nine months ended March 31, 2016 and for the three and nine months ended March 31, 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 periods and therefore has been excluded from diluted shares outstanding as well as from the diluted earnings per share calculation.

Equity

Equity	9 Months Ended
	Mar. 31, 2016
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 March 31, 2016 and 2015 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 — — (159,454 ) — 1,634 (157,820 ) Other comprehensive loss — — — (5,656 ) (540 ) (6,196 ) Dividend reinvestment 12 219 — — — 231 Capital stock issued under employee benefit and stock plans 380 10,863 — — — 11,243 Purchase of capital stock (12 ) (219 ) — — — (231 ) Cash dividends paid — — (47,780 ) — (71 ) (47,851 ) Balance as of March 31, 2016 $ 99,599 $ 430,692 $ 863,048 $ (249,179 ) $ 30,651 $ 1,174,811 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 (loss) income — — (395,043 ) — 1,914 (393,129 ) Other comprehensive loss — — — (140,287 ) (3,537 ) (143,824 ) Dividend reinvestment 7 237 — — — 244 Capital stock issued under employee benefit and stock plans 740 19,210 — — — 19,950 Purchase of capital stock (7 ) (237 ) — — — (244 ) Cash dividends paid — — (42,699 ) — (47 ) (42,746 ) Balance as of March 31, 2015 $ 99,080 $ 415,100 $ 1,063,415 $ (206,418 ) $ 30,682 $ 1,401,859 The amounts of comprehensive loss 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	9 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive (Loss) Income	ACCUMULATED OTHER COMPREHENSIVE LOSS Total accumulated other comprehensive loss (AOCL) consists of net income (loss) 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 March 31, 2016 (in thousands): Attributable to Kennametal: Postretirement benefit plans Currency translation adjustment Derivatives Total Balance, December 31, 2015 $ (133,922 ) $ (121,702 ) $ (8,803 ) $ (264,427 ) Other comprehensive loss before reclassifications (888 ) 17,256 (637 ) 15,731 Amounts reclassified from AOCL 1,219 (1,940 ) 238 (483 ) Net current period other comprehensive loss 331 15,316 (399 ) 15,248 AOCL, March 31, 2016 $ (133,591 ) $ (106,386 ) $ (9,202 ) $ (249,179 ) Attributable to noncontrolling interests: Balance, December 31, 2015 $ — $ (3,325 ) $ — $ (3,325 ) Other comprehensive loss before reclassifications — 527 — 527 Net current period other comprehensive loss — 527 — 527 AOCL, March 31, 2016 $ — $ (2,798 ) $ — $ (2,798 ) The components of, and changes in, AOCL were as follows (net of tax) for the nine months ended March 31, 2016 (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 1,561 (24,165 ) 165 (22,439 ) Amounts reclassified from AOCL 3,641 15,088 (1,946 ) 16,783 Net current period other comprehensive loss 5,202 (9,077 ) (1,781 ) (5,656 ) AOCL, March 31, 2016 $ (133,591 ) $ (106,386 ) $ (9,202 ) $ (249,179 ) Attributable to noncontrolling interests: Balance, June 30, 2015 $ — $ (2,258 ) $ — $ (2,258 ) Other comprehensive loss before reclassifications — (540 ) — (540 ) Net current period other comprehensive loss — (540 ) — (540 ) AOCL, March 31, 2016 $ — $ (2,798 ) $ — $ (2,798 ) The components of, and changes in, AOCL were as follows (net of tax) for the three months ended March 31, 2015 (in thousands): Attributable to Kennametal: Postretirement benefit plans Currency translation adjustment Derivatives Total Balance, December 31, 2014 $ (86,688 ) $ (40,637 ) $ (8,158 ) $ (135,483 ) Other comprehensive (loss) income before reclassifications 4,293 (78,233 ) 3,025 (70,915 ) Amounts reclassified from AOCL 685 — (705 ) (20 ) Net current period other comprehensive (loss) income 4,978 (78,233 ) 2,320 (70,935 ) AOCL, March 31, 2015 $ (81,710 ) $ (118,870 ) $ (5,838 ) $ (206,418 ) Attributable to noncontrolling interests: Balance, December 31, 2014 $ — $ (1,187 ) $ — $ (1,187 ) Other comprehensive income before reclassifications — (1,263 ) — (1,263 ) Net current period other comprehensive income — (1,263 ) — (1,263 ) AOCL, March 31, 2015 $ — $ (2,450 ) $ — $ (2,450 ) The components of, and changes in, AOCL were as follows (net of tax) for the nine months ended March 31, 2015 (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 before reclassifications 9,858 (157,681 ) 5,738 (142,085 ) Amounts reclassified from AOCL 2,174 — (376 ) 1,798 Net current period other comprehensive loss 12,032 (157,681 ) 5,362 (140,287 ) AOCL, March 31, 2015 $ (81,710 ) $ (118,870 ) $ (5,838 ) $ (206,418 ) Attributable to noncontrolling interests: Balance, June 30, 2014 $ — $ 1,087 $ — $ 1,087 Other comprehensive loss before reclassifications — (3,537 ) — (3,537 ) Net current period other comprehensive loss — (3,537 ) — (3,537 ) AOCL, March 31, 2015 $ — $ (2,450 ) $ — $ (2,450 ) Reclassifications out of AOCL for the three and nine months ended March 31, 2016 and 2015 consisted of the following (in thousands): Three Months Ended March 31, Nine Months Ended March 31, Details about AOCL components 2016 2015 2016 2015 Affected line item in the Income Statement Gains and losses on cash flow hedges: Forward starting interest rate swaps $ 525 $ 505 $ 1,574 $ 1,515 Interest expense Currency exchange contracts (141 ) (1,653 ) (4,713 ) (2,127 ) Other (income) expense, net Total before tax 384 (1,148 ) (3,139 ) (612 ) Tax (benefit) expense (146 ) 443 1,193 236 Provision (benefit) for income taxes Net of tax $ 238 $ (705 ) $ (1,946 ) $ (376 ) Postretirement benefit plans: Amortization of transition obligations $ 19 $ 18 $ 61 $ 58 See note 10 for further details Amortization of prior service credit (110 ) (100 ) (329 ) (296 ) See note 10 for further details Recognition of actuarial losses 1,886 1,078 5,694 3,430 See note 10 for further details Total before taxes 1,795 996 5,426 3,192 Tax (benefit) (576 ) (311 ) (1,785 ) (1,018 ) Provision (benefit) for income taxes Net of tax $ 1,219 $ 685 $ 3,641 $ 2,174 Foreign currency translation adjustments: Released due to divestiture $ (1,940 ) $ — $ 15,088 $ — Loss on divestiture Total before taxes (1,940 ) — 15,088 — Tax benefit — — — — Provision (benefit) for income taxes Net of tax $ (1,940 ) $ — $ 15,088 $ — The amount of income tax allocated to each component of other comprehensive income (loss) for the three months ended March 31, 2016 and 2015 : 2016 2015 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Unrealized (loss) gain on derivatives designated and qualified as cash flow hedges $ (1,027 ) $ 390 $ (637 ) $ 4,927 $ (1,902 ) $ 3,025 Reclassification of unrealized loss (gain) on expired derivatives designated and qualified as cash flow hedges 384 (146 ) 238 (1,148 ) 443 (705 ) Unrecognized net pension and other postretirement benefit (loss) gain (1,332 ) 444 (888 ) 5,895 (1,602 ) 4,293 Reclassification of net pension and other postretirement benefit loss 1,795 (576 ) 1,219 996 (311 ) 685 Foreign currency translation adjustments 19,432 (1,649 ) 17,783 (83,881 ) 4,385 (79,496 ) Reclassification of foreign currency translation adjustment loss realized upon sale (1,940 ) — (1,940 ) — — — Other comprehensive income (loss) $ 17,312 $ (1,537 ) $ 15,775 $ (73,211 ) $ 1,013 $ (72,198 ) The amount of income tax allocated to each component of other comprehensive income (loss) for the nine months ended March 31, 2016 and 2015 : 2016 2015 (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 $ 266 $ (101 ) $ 165 $ 9,345 $ (3,607 ) $ 5,738 Reclassification of unrealized gain on expired derivatives designated and qualified as cash flow hedges (3,139 ) 1,193 (1,946 ) (612 ) 236 (376 ) Unrecognized net pension and other postretirement benefit gain 1,884 (323 ) 1,561 13,481 (3,623 ) 9,858 Reclassification of net pension and other postretirement benefit loss 5,426 (1,785 ) 3,641 3,192 (1,018 ) 2,174 Foreign currency translation adjustments (25,294 ) 589 (24,705 ) (170,400 ) 9,182 (161,218 ) Reclassification of foreign currency translation adjustment loss realized upon sale 15,088 — 15,088 — — — Other comprehensive (loss) $ (5,769 ) $ (427 ) $ (6,196 ) $ (144,994 ) $ 1,170 $ (143,824 )

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Mar. 31, 2016
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. 2016 December Quarter Impairment Charge Late in the December quarter of fiscal 2016, the Company experienced a further unexpected deterioration in customer demand in many of its end markets and certain geographies. Industrial production indices in the U.S. and China declined, as well as further reductions in mining and oil and gas activity. In view of these declines and the significant impact on our near term financial forecasts as well as a significant and sustained decline in the Company’s stock price, we determined an interim impairment test of our goodwill and other long-lived assets of our Industrial and Infrastructure reporting units was required. As a result of this interim test, we recorded a preliminary non-cash pre-tax impairment charge during the three months ended December 31, 2015 of $106.1 million in the Infrastructure segment, of which $105.7 million was for goodwill and $0.4 million was for an indefinite-lived trademark intangible asset. We also recorded a preliminary non-cash pre-tax impairment charge during the three months ended December 31, 2015 of $2.3 million in the Industrial segment for an indefinite-lived trademark intangible asset. These impairment charges are recorded in restructuring and asset impairment charges in our condensed consolidated statements of income. There is $302.1 million of goodwill at the Industrial reporting unit. The fair value substantially exceeds the carrying value. The Infrastructure segment has no remaining goodwill recorded. Identifiable assets with finite lives are reviewed for impairment when events or circumstances indicate that the carrying value may not be recoverable. During the December quarter end, we performed an interim review of our identifiable assets with finite lives and preliminarily determined that the assets were not impaired. During the March quarter of fiscal 2016, we completed the finalization of fair values related to intangibles and property, plant and equipment related to the aforementioned 2016 charges. We also completed a review of our identifiable assets with finite lives and determined that the assets were not impaired. Divestiture Impact on Goodwill and Other Intangible Assets During the nine months ended March 31, 2016 , we completed the sale of non-core businesses, see Note 5. As a result of this transaction, goodwill decreased by $1.1 million and $6.5 million in our Industrial and Infrastructure segments, respectively. These decreases are recorded in the loss on divestiture account in our condensed consolidated statements of income. 2015 March Quarter Impairment Charge As previously disclosed, we recorded a non-cash pre-tax impairment charge during the three months ended March 31, 2015 of $152.9 million in the Infrastructure segment, of which $152.5 million was for goodwill and $0.4 million was for an indefinite-lived trademark intangible asset. In addition, we recorded an additional $6.8 million charge during the three months ended March 31, 2015 for an indefinite-lived trademark intangible asset based upon completion of the December valuation. 2015 December Quarter Impairment Charge As previously disclosed, we recorded a non-cash pre-tax impairment charge during the three months ended December 31, 2014 of $376.5 million in the Infrastructure segment, of which $375.0 million was for goodwill and $1.5 million was for an indefinite-lived trademark intangible asset. The further acceleration or extended persistence of the current downturn in the global end markets could have a further negative impact on our business and financial performance. We cannot provide assurance that we will achieve all of the anticipated benefits from restructuring actions we have taken and expect to continue to take. If we are unable to effectively restructure our operations in the light of evolving market conditions, it could have a material adverse effect on our business, financial condition, results of operations and cash flows. We are currently exploring strategic alternatives for a remaining non-core Infrastructure business. The estimated net book value of the business is approximately $40 million as of March 31, 2016 . As the strategic direction has not yet been determined for this business, the business is classified as held and used, and the Company cannot determine if additional impairment charges will be incurred. 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 nine months ended March 31, 2016: Divestiture (1,075 ) (6,461 ) (7,536 ) Translation (1,345 ) (688 ) (2,033 ) Change in gross goodwill (2,420 ) (7,149 ) (9,569 ) Impairment charges — (105,711 ) (105,711 ) Gross goodwill 452,951 633,211 1,086,162 Accumulated impairment losses (150,842 ) (633,211 ) (784,053 ) Balance as of March 31, 2016 $ 302,109 $ — $ 302,109 The components of our other intangible assets were as follows: Estimated Useful Life (in years) March 31, 2016 June 30, 2015 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Contract-based 3 to 15 $ 7,183 $ (6,736 ) $ 8,523 $ (6,990 ) Technology-based and other 4 to 20 47,813 (26,863 ) 52,820 (29,723 ) Customer-related 10 to 21 206,464 (64,204 ) 275,796 (90,141 ) Unpatented technology 10 to 30 31,958 (4,390 ) 59,449 (14,426 ) Trademarks 5 to 20 12,750 (8,471 ) 18,575 (12,090 ) Trademarks Indefinite 17,205 — 24,876 — Total $ 323,373 $ (110,664 ) $ 440,039 $ (153,370 ) As previously mentioned, during the nine months ended March 31, 2016 , we recorded $2.3 million and $0.4 million of impairment charges in the Industrial and Infrastructure segments, respectively, for indefinite-lived trademark intangible assets as a result of our 2016 interim impairment analysis. The divestiture of non-core businesses completed during the nine months ended March 31, 2016 resulted in a reduction of $30.0 million in customer-related, $15.4 million in unpatented technology, $5.0 million in indefinite-lived trademarks, $1.1 million in definite-lived trademarks, $0.8 million in technology-based and other and $0.5 million in contract-based. During the nine months ended March 31, 2015 , an impairment of $10.5 million was recorded for a contract-based technology intangible asset that was part of the Infrastructure segment, resulting in a non-cash impairment charge of $5.5 million and a reduction in a liability of $5.0 million . As previously mentioned, we recorded a $8.7 million impairment for an indefinite-lived trademark intangible asset as a result of our impairment test of our Infrastructure segment. During the nine months ended March 31, 2016 and 2015 , we recorded amortization expense of $16.3 million and $20.4 million , respectively, related to our other intangible assets.

Segment Data

Segment Data	9 Months Ended
	Mar. 31, 2016
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 March 31, Nine Months Ended March 31, (in thousands) 2016 2015 2016 2015 Sales: Industrial $ 316,372 $ 354,810 $ 940,588 $ 1,104,225 Infrastructure 181,465 284,160 636,624 905,318 Total sales $ 497,837 $ 638,970 $ 1,577,212 $ 2,009,543 Operating income (loss): Industrial (5) $ 24,692 $ 35,311 $ 51,802 $ 121,123 Infrastructure (5) 3,748 (153,100 ) (242,417 ) (505,799 ) Corporate (1,105 ) (2,603 ) (9,391 ) (8,467 ) Total operating income (loss) 27,335 (120,392 ) (200,006 ) (393,143 ) Interest expense 7,113 7,760 20,895 23,929 Other (income) expense, net (1,938 ) (378 ) (1,582 ) 32 Income (loss) from continuing operations before income taxes $ 22,160 $ (127,774 ) $ (219,319 ) $ (417,104 ) Total assets by segment are as follows: (in thousands) March 31, 2016 June 30, 2015 Industrial 1,225,191 1,259,270 Infrastructure (5) 866,381 1,279,608 Corporate 400,367 310,651 Total assets 2,491,939 2,849,529 (5) See Note 5 regarding Industrial and Infrastructure segment losses on divestiture. See Note 18 regarding impairment charges for Infrastructure goodwill and for Industrial and Infrastructure other intangible assets.

Supplemental Cash Flow Disclo26

Supplemental Cash Flow Disclosures (Tables)	9 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Disclosures	Nine Months Ended March 31, (in thousands) 2016 2015 Cash paid during the period for: Interest $ 20,056 $ 23,981 Income taxes 38,429 35,700 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)	9 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Financial instruments at fair value on recurring basis	As of March 31, 2016 , 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) $ — $ 155 $ — $ 155 Total assets at fair value $ — $ 155 $ — $ 155 Liabilities: Derivatives (1) $ — $ 311 $ — $ 311 Contingent consideration — — 8,600 8,600 Total liabilities at fair value $ — $ 311 $ 8,600 $ 8,911 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)	9 Months Ended
	Mar. 31, 2016
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) March 31, June 30, Derivatives designated as hedging instruments Other current assets - range forward contracts $ 12 $ 2,626 Other current liabilities - range forward contracts (285 ) — Other liabilities - range forward contracts (7 ) — Total derivatives designated as hedging instruments (280 ) 2,626 Derivatives not designated as hedging instruments Other current assets - currency forward contracts 143 52 Other current liabilities - currency forward contracts (19 ) (44 ) Total derivatives not designated as hedging instruments 124 8 Total derivatives $ (156 ) $ 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 March 31, Nine Months Ended March 31, (in thousands) 2016 2015 2016 2015 Other (income) expense, net - currency forward contracts $ (182 ) $ 3,386 $ (116 ) $ (3,783 )
Gains and losses related to cash flow hedges	The following represents gains and losses related to cash flow hedges: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2016 2015 2016 2015 (Losses) gains recognized in other comprehensive loss, net $ (914 ) $ 3,025 $ (637 ) $ 5,738 Losses (gains) reclassified from accumulated other comprehensive loss into other (income) expense, net $ 629 $ (48 ) $ 293 $ 453

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Mar. 31, 2016
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 March 31, 2016 Industrial Severance $ 13,456 $ 12,158 $ — $ 58 $ (17,659 ) $ 8,013 Facilities — 930 (780 ) — (146 ) 4 Other 28 156 — (1 ) (12 ) 171 Total Industrial $ 13,484 $ 13,244 $ (780 ) $ 57 $ (17,817 ) $ 8,188 Infrastructure Severance $ 7,173 $ 4,053 $ — $ 19 $ (5,886 ) $ 5,359 Facilities 131 2,775 (2,775 ) — (101 ) 30 Other — 52 — — 3 55 Total Infrastructure $ 7,304 $ 6,880 $ (2,775 ) $ 19 $ (5,984 ) $ 5,444 Total $ 20,788 $ 20,124 $ (3,555 ) $ 76 $ (23,801 ) $ 13,632 (in thousands) June 30, 2014 Expense Asset Write-Down Other (2) Translation Cash Expenditures March 31, 2015 Industrial Severance $ 5,815 $ 11,565 $ — $ — $ (364 ) $ (7,312 ) $ 9,704 Facilities 444 1,307 (1,261 ) — (31 ) (459 ) — Other 67 37 — — (2 ) (102 ) — Total Industrial $ 6,326 $ 12,909 $ (1,261 ) $ — $ (397 ) $ (7,873 ) $ 9,704 Infrastructure Severance $ 2,458 $ 10,813 $ — $ (459 ) $ (350 ) $ (6,749 ) $ 5,713 Facilities 190 661 (522 ) — (16 ) (279 ) 34 Other 28 6 — — (3 ) (31 ) — Total Infrastructure $ 2,676 $ 11,480 $ (522 ) $ (459 ) $ (369 ) $ (7,059 ) $ 5,747 Total $ 9,002 $ 24,389 $ (1,783 ) $ (459 ) $ (766 ) $ (14,932 ) $ 15,451

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Mar. 31, 2016
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 nine months ended March 31, 2016 and 2015 were as follows: 2016 2015 Risk-free interest rate 1.4 % 1.5 % Expected life (years) (3) 4.5 4.5 Expected volatility (4) 31.7 % 32.5 % Expected dividend yield 2.1 % 1.7 % (3) Expected life is derived from historical experience. (4) Expected volatility is based on the implied historical volatility of our stock.
Changes in stock options	Changes in our stock options for the nine months ended March 31, 2016 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 885,403 28.29 Exercised (38,569 ) 25.02 Lapsed or forfeited (369,945 ) 34.95 Options outstanding, March 31, 2016 2,570,926 $ 33.72 5.1 $ 740 Options vested and expected to vest, March 31, 2016 2,512,561 $ 33.80 5.0 $ 720 Options exercisable, March 31, 2016 1,648,381 $ 35.36 2.9 $ 145
Changes in time vesting and performance vesting restricted stock units	Changes in our time vesting and performance vesting restricted stock units for the nine months ended March 31, 2016 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 31.60 755,787 27.49 Vested — — (284,778 ) 40.80 Performance metric not achieved (42,697 ) 31.60 — — Forfeited (60,670 ) 32.70 (127,995 ) 35.79 Unvested performance vesting and time vesting restricted stock units, March 31, 2016 115,467 $ 36.96 1,032,282 $ 32.13

Benefit Plans (Tables)

Benefit Plans (Tables)	9 Months Ended
	Mar. 31, 2016
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic pension (income)	The table below summarizes the components of net periodic pension (income): Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2016 2015 2016 2015 Service cost $ 1,154 $ 1,349 $ 3,473 $ 4,148 Interest cost 9,375 9,575 28,299 29,256 Expected return on plan assets (14,560 ) (14,797 ) (43,924 ) (44,744 ) Amortization of transition obligation 19 18 61 58 Amortization of prior service credit (104 ) (72 ) (313 ) (213 ) Recognition of actuarial losses 1,805 871 5,452 2,809 Curtailment loss — — — 358 Special termination benefit charge — — 214 459 Net periodic pension (income) $ (2,311 ) $ (3,056 ) $ (6,738 ) $ (7,869 )
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 March 31, Nine Months Ended March 31, (in thousands) 2016 2015 2016 2015 Service cost $ — $ 27 $ — $ 81 Interest cost 210 259 630 778 Amortization of prior service credit (6 ) (28 ) (16 ) (83 ) Recognition of actuarial loss 81 207 242 621 Curtailment gain — — — (221 ) Net periodic other postretirement benefit cost $ 285 $ 465 $ 856 $ 1,176

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: (in thousands) March 31, 2016 June 30, 2015 Finished goods $ 300,941 $ 324,840 Work in process and powder blends 180,854 249,629 Raw materials 67,511 100,881 Inventories at current cost 549,306 675,350 Less: LIFO valuation (63,916 ) (99,819 ) Total inventories $ 485,390 $ 575,531

Equity (Tables)

Equity (Tables)	9 Months Ended
	Mar. 31, 2016
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 March 31, 2016 and 2015 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 — — (159,454 ) — 1,634 (157,820 ) Other comprehensive loss — — — (5,656 ) (540 ) (6,196 ) Dividend reinvestment 12 219 — — — 231 Capital stock issued under employee benefit and stock plans 380 10,863 — — — 11,243 Purchase of capital stock (12 ) (219 ) — — — (231 ) Cash dividends paid — — (47,780 ) — (71 ) (47,851 ) Balance as of March 31, 2016 $ 99,599 $ 430,692 $ 863,048 $ (249,179 ) $ 30,651 $ 1,174,811 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 (loss) income — — (395,043 ) — 1,914 (393,129 ) Other comprehensive loss — — — (140,287 ) (3,537 ) (143,824 ) Dividend reinvestment 7 237 — — — 244 Capital stock issued under employee benefit and stock plans 740 19,210 — — — 19,950 Purchase of capital stock (7 ) (237 ) — — — (244 ) Cash dividends paid — — (42,699 ) — (47 ) (42,746 ) Balance as of March 31, 2015 $ 99,080 $ 415,100 $ 1,063,415 $ (206,418 ) $ 30,682 $ 1,401,859

Accumulated Other Comprehensi34

Accumulated Other Comprehensive (Loss) Income (Tables)	9 Months Ended
	Mar. 31, 2016
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 March 31, 2016 (in thousands): Attributable to Kennametal: Postretirement benefit plans Currency translation adjustment Derivatives Total Balance, December 31, 2015 $ (133,922 ) $ (121,702 ) $ (8,803 ) $ (264,427 ) Other comprehensive loss before reclassifications (888 ) 17,256 (637 ) 15,731 Amounts reclassified from AOCL 1,219 (1,940 ) 238 (483 ) Net current period other comprehensive loss 331 15,316 (399 ) 15,248 AOCL, March 31, 2016 $ (133,591 ) $ (106,386 ) $ (9,202 ) $ (249,179 ) Attributable to noncontrolling interests: Balance, December 31, 2015 $ — $ (3,325 ) $ — $ (3,325 ) Other comprehensive loss before reclassifications — 527 — 527 Net current period other comprehensive loss — 527 — 527 AOCL, March 31, 2016 $ — $ (2,798 ) $ — $ (2,798 ) The components of, and changes in, AOCL were as follows (net of tax) for the nine months ended March 31, 2016 (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 1,561 (24,165 ) 165 (22,439 ) Amounts reclassified from AOCL 3,641 15,088 (1,946 ) 16,783 Net current period other comprehensive loss 5,202 (9,077 ) (1,781 ) (5,656 ) AOCL, March 31, 2016 $ (133,591 ) $ (106,386 ) $ (9,202 ) $ (249,179 ) Attributable to noncontrolling interests: Balance, June 30, 2015 $ — $ (2,258 ) $ — $ (2,258 ) Other comprehensive loss before reclassifications — (540 ) — (540 ) Net current period other comprehensive loss — (540 ) — (540 ) AOCL, March 31, 2016 $ — $ (2,798 ) $ — $ (2,798 ) The components of, and changes in, AOCL were as follows (net of tax) for the three months ended March 31, 2015 (in thousands): Attributable to Kennametal: Postretirement benefit plans Currency translation adjustment Derivatives Total Balance, December 31, 2014 $ (86,688 ) $ (40,637 ) $ (8,158 ) $ (135,483 ) Other comprehensive (loss) income before reclassifications 4,293 (78,233 ) 3,025 (70,915 ) Amounts reclassified from AOCL 685 — (705 ) (20 ) Net current period other comprehensive (loss) income 4,978 (78,233 ) 2,320 (70,935 ) AOCL, March 31, 2015 $ (81,710 ) $ (118,870 ) $ (5,838 ) $ (206,418 ) Attributable to noncontrolling interests: Balance, December 31, 2014 $ — $ (1,187 ) $ — $ (1,187 ) Other comprehensive income before reclassifications — (1,263 ) — (1,263 ) Net current period other comprehensive income — (1,263 ) — (1,263 ) AOCL, March 31, 2015 $ — $ (2,450 ) $ — $ (2,450 ) The components of, and changes in, AOCL were as follows (net of tax) for the nine months ended March 31, 2015 (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 before reclassifications 9,858 (157,681 ) 5,738 (142,085 ) Amounts reclassified from AOCL 2,174 — (376 ) 1,798 Net current period other comprehensive loss 12,032 (157,681 ) 5,362 (140,287 ) AOCL, March 31, 2015 $ (81,710 ) $ (118,870 ) $ (5,838 ) $ (206,418 ) Attributable to noncontrolling interests: Balance, June 30, 2014 $ — $ 1,087 $ — $ 1,087 Other comprehensive loss before reclassifications — (3,537 ) — (3,537 ) Net current period other comprehensive loss — (3,537 ) — (3,537 ) AOCL, March 31, 2015 $ — $ (2,450 ) $ — $ (2,450 )
Reclassification out of Accumulated Other Comprehensive Loss	Reclassifications out of AOCL for the three and nine months ended March 31, 2016 and 2015 consisted of the following (in thousands): Three Months Ended March 31, Nine Months Ended March 31, Details about AOCL components 2016 2015 2016 2015 Affected line item in the Income Statement Gains and losses on cash flow hedges: Forward starting interest rate swaps $ 525 $ 505 $ 1,574 $ 1,515 Interest expense Currency exchange contracts (141 ) (1,653 ) (4,713 ) (2,127 ) Other (income) expense, net Total before tax 384 (1,148 ) (3,139 ) (612 ) Tax (benefit) expense (146 ) 443 1,193 236 Provision (benefit) for income taxes Net of tax $ 238 $ (705 ) $ (1,946 ) $ (376 ) Postretirement benefit plans: Amortization of transition obligations $ 19 $ 18 $ 61 $ 58 See note 10 for further details Amortization of prior service credit (110 ) (100 ) (329 ) (296 ) See note 10 for further details Recognition of actuarial losses 1,886 1,078 5,694 3,430 See note 10 for further details Total before taxes 1,795 996 5,426 3,192 Tax (benefit) (576 ) (311 ) (1,785 ) (1,018 ) Provision (benefit) for income taxes Net of tax $ 1,219 $ 685 $ 3,641 $ 2,174 Foreign currency translation adjustments: Released due to divestiture $ (1,940 ) $ — $ 15,088 $ — Loss on divestiture Total before taxes (1,940 ) — 15,088 — Tax benefit — — — — Provision (benefit) for income taxes Net of tax $ (1,940 ) $ — $ 15,088 $ —
Income Tax Allocated to Each Component of Other Comprehensive Income [Table Text Block]	The amount of income tax allocated to each component of other comprehensive income (loss) for the three months ended March 31, 2016 and 2015 : 2016 2015 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Unrealized (loss) gain on derivatives designated and qualified as cash flow hedges $ (1,027 ) $ 390 $ (637 ) $ 4,927 $ (1,902 ) $ 3,025 Reclassification of unrealized loss (gain) on expired derivatives designated and qualified as cash flow hedges 384 (146 ) 238 (1,148 ) 443 (705 ) Unrecognized net pension and other postretirement benefit (loss) gain (1,332 ) 444 (888 ) 5,895 (1,602 ) 4,293 Reclassification of net pension and other postretirement benefit loss 1,795 (576 ) 1,219 996 (311 ) 685 Foreign currency translation adjustments 19,432 (1,649 ) 17,783 (83,881 ) 4,385 (79,496 ) Reclassification of foreign currency translation adjustment loss realized upon sale (1,940 ) — (1,940 ) — — — Other comprehensive income (loss) $ 17,312 $ (1,537 ) $ 15,775 $ (73,211 ) $ 1,013 $ (72,198 ) The amount of income tax allocated to each component of other comprehensive income (loss) for the nine months ended March 31, 2016 and 2015 : 2016 2015 (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 $ 266 $ (101 ) $ 165 $ 9,345 $ (3,607 ) $ 5,738 Reclassification of unrealized gain on expired derivatives designated and qualified as cash flow hedges (3,139 ) 1,193 (1,946 ) (612 ) 236 (376 ) Unrecognized net pension and other postretirement benefit gain 1,884 (323 ) 1,561 13,481 (3,623 ) 9,858 Reclassification of net pension and other postretirement benefit loss 5,426 (1,785 ) 3,641 3,192 (1,018 ) 2,174 Foreign currency translation adjustments (25,294 ) 589 (24,705 ) (170,400 ) 9,182 (161,218 ) Reclassification of foreign currency translation adjustment loss realized upon sale 15,088 — 15,088 — — — Other comprehensive (loss) $ (5,769 ) $ (427 ) $ (6,196 ) $ (144,994 ) $ 1,170 $ (143,824 )

Goodwill and Other Intangible35

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Mar. 31, 2016
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 nine months ended March 31, 2016: Divestiture (1,075 ) (6,461 ) (7,536 ) Translation (1,345 ) (688 ) (2,033 ) Change in gross goodwill (2,420 ) (7,149 ) (9,569 ) Impairment charges — (105,711 ) (105,711 ) Gross goodwill 452,951 633,211 1,086,162 Accumulated impairment losses (150,842 ) (633,211 ) (784,053 ) Balance as of March 31, 2016 $ 302,109 $ — $ 302,109
The components of intangible assets	The components of our other intangible assets were as follows: Estimated Useful Life (in years) March 31, 2016 June 30, 2015 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Contract-based 3 to 15 $ 7,183 $ (6,736 ) $ 8,523 $ (6,990 ) Technology-based and other 4 to 20 47,813 (26,863 ) 52,820 (29,723 ) Customer-related 10 to 21 206,464 (64,204 ) 275,796 (90,141 ) Unpatented technology 10 to 30 31,958 (4,390 ) 59,449 (14,426 ) Trademarks 5 to 20 12,750 (8,471 ) 18,575 (12,090 ) Trademarks Indefinite 17,205 — 24,876 — Total $ 323,373 $ (110,664 ) $ 440,039 $ (153,370 )

Segment Data (Tables)

Segment Data (Tables)	9 Months Ended
	Mar. 31, 2016
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 March 31, Nine Months Ended March 31, (in thousands) 2016 2015 2016 2015 Sales: Industrial $ 316,372 $ 354,810 $ 940,588 $ 1,104,225 Infrastructure 181,465 284,160 636,624 905,318 Total sales $ 497,837 $ 638,970 $ 1,577,212 $ 2,009,543 Operating income (loss): Industrial (5) $ 24,692 $ 35,311 $ 51,802 $ 121,123 Infrastructure (5) 3,748 (153,100 ) (242,417 ) (505,799 ) Corporate (1,105 ) (2,603 ) (9,391 ) (8,467 ) Total operating income (loss) 27,335 (120,392 ) (200,006 ) (393,143 ) Interest expense 7,113 7,760 20,895 23,929 Other (income) expense, net (1,938 ) (378 ) (1,582 ) 32 Income (loss) from continuing operations before income taxes $ 22,160 $ (127,774 ) $ (219,319 ) $ (417,104 ) Total assets by segment are as follows: (in thousands) March 31, 2016 June 30, 2015 Industrial 1,225,191 1,259,270 Infrastructure (5) 866,381 1,279,608 Corporate 400,367 310,651 Total assets 2,491,939 2,849,529 (5) See Note 5 regarding Industrial and Infrastructure segment losses on divestiture. See Note 18 regarding impairment charges for Infrastructure goodwill and for Industrial and Infrastructure other intangible assets.

Supplemental Cash Flow Disclo37

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash paid during the period for:
Interest	$ 20,056	$ 23,981
Income taxes	38,429	35,700
Change in accounts payable related to property, plant, and equipment	$ 16,400	$ 6,470

Divestiture Divestiture (Detail

Divestiture Divestiture (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Nov. 30, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses, Net of Cash Divested			$ 61,100	$ 0
Loss on divestiture	$ 2,557	$ 0	(130,750)	$ 0
Non-Core Businesses Sold to Madison Industries [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net Book Value					$ 191,900
Infrastructure [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on divestiture			(127,166)
Industrial [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on divestiture			$ (3,581)

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets	$ 155	$ 2,678
Total assets at fair value	155	2,678
Derivatives Liabilities	311	44
Contingent Consideration	8,600	10,000
Total liabilities at fair value	8,911	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	155	2,678
Total assets at fair value	155	2,678
Derivatives Liabilities	311	44
Total liabilities at fair value	311	44
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent Consideration	8,600	10,000
Total liabilities at fair value	$ 8,600	$ 10,000

Fair Value Measurments - Contin

Fair Value Measurments - Contingent Consideration (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2016
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	9 months
Emura [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities, Fair Value Adjustment		$ 1,400

Derivative Instruments and He41

Derivative Instruments and Hedging Activities - Fair Value of Derivatives Designated and Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Fair value of derivatives
Derivative, Fair Value, Net	$ (156)	$ 2,634
Designated as Hedging Instrument [Member]
Fair value of derivatives
Derivative, Fair Value, Net	(280)	2,626
Not Designated as Hedging Instrument [Member]
Fair value of derivatives
Derivative, Fair Value, Net	124	8
Range Forward Contracts [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Fair value of derivatives
Derivative assets designated as hedging instruments	12	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	(285)	0
Range Forward Contracts [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member]
Fair value of derivatives
Derivative liabilities designated as hedging instruments	(7)	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	143	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	$ (19)	$ (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		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Currency Forward Contracts [Member] | Other Expense Income Net [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, (Gain) Loss Recognized in Income, Net
Other (income) expense, net - currency forward contracts	$ (182)	$ 3,386	$ (116)	$ (3,783)
Range Forward Contracts [Member] | Cash flow hedging [Member]
(Gains) losses related to cash flow hedges
(Losses) gains recognized in other comprehensive loss, net	(914)	3,025	(637)	5,738
Losses (gains) reclassified from accumulated other comprehensive loss into other (income) expense, net	$ 629	$ (48)	$ 293	$ 453

Derivative Instruments and He43

Derivative Instruments and Hedging Activities (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Jun. 30, 2015
Derivative Instruments and Hedging Activities (Textual) [Abstract]
Recognize loss on outstanding derivatives in the next 12 months	$ 0.4
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	$ 63.8		$ 53.8

Restructuring and Related Cha44

Restructuring and Related Charges - Restructuring Accrual (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Restructuring Reserve [Abstract]
Beginning Balance			$ 20,788	$ 9,002
Restructuring Charges	$ 7,492	$ 15,749	20,124	24,389
Asset Write-Down			(3,555)	(1,783)
Other				(459)
Translation			76	(766)
Cash Expenditures			(23,801)	(14,932)
Ending Balance	13,632	15,451	13,632	15,451
Industrial [Member]
Restructuring Reserve [Abstract]
Beginning Balance			13,484	6,326
Restructuring Charges			13,244	12,909
Asset Write-Down			(780)	(1,261)
Other				0
Translation			57	(397)
Cash Expenditures			(17,817)	(7,873)
Ending Balance	8,188	9,704	8,188	9,704
Industrial [Member] | Severance [Member]
Restructuring Reserve [Abstract]
Beginning Balance			13,456	5,815
Restructuring Charges			12,158	11,565
Asset Write-Down			0	0
Other				0
Translation			58	(364)
Cash Expenditures			17,659	7,312
Ending Balance	8,013	9,704	8,013	9,704
Industrial [Member] | Facilities [Member]
Restructuring Reserve [Abstract]
Beginning Balance			0	444
Restructuring Charges			930	1,307
Asset Write-Down			(780)	(1,261)
Other				0
Translation			0	(31)
Cash Expenditures			146	459
Ending Balance	4	0	4	0
Industrial [Member] | Other [Member]
Restructuring Reserve [Abstract]
Beginning Balance			28	67
Restructuring Charges			156	37
Asset Write-Down			0	0
Other				0
Translation			(1)	(2)
Cash Expenditures			12	102
Ending Balance	171	0	171	0
Infrastructure [Member]
Restructuring Reserve [Abstract]
Beginning Balance			7,304	2,676
Restructuring Charges			6,880	11,480
Asset Write-Down			(2,775)	(522)
Other				(459)
Translation			19	(369)
Cash Expenditures			(5,984)	(7,059)
Ending Balance	5,444	5,747	5,444	5,747
Infrastructure [Member] | Severance [Member]
Restructuring Reserve [Abstract]
Beginning Balance			7,173	2,458
Restructuring Charges			4,053	10,813
Asset Write-Down			0	0
Other				(459)
Translation			19	(350)
Cash Expenditures			5,886	6,749
Ending Balance	5,359	5,713	5,359	5,713
Infrastructure [Member] | Facilities [Member]
Restructuring Reserve [Abstract]
Beginning Balance			131	190
Restructuring Charges			2,775	661
Asset Write-Down			(2,775)	(522)
Other				0
Translation			0	(16)
Cash Expenditures			101	279
Ending Balance	30	34	30	34
Infrastructure [Member] | Other [Member]
Restructuring Reserve [Abstract]
Beginning Balance			0	28
Restructuring Charges			52	6
Asset Write-Down			0	0
Other				0
Translation			0	(3)
Cash Expenditures			(3)	31
Ending Balance	$ 55	$ 0	$ 55	$ 0

Restructuring and Related Cha45

Restructuring and Related Charges - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	$ 13,998	$ 16,742	$ 37,970	$ 37,105
Restructuring Charges	7,492	15,749	20,124	24,389
Restructuring Charges Related to Inventory Disposals	350		81	252
Industrial [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			13,244	12,909
Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			6,880	11,480
Phase 1 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	58,342		58,342
Phase 1 [Member] | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	$ 60,000		$ 60,000
Phase 1 [Member] | Industrial [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Percent	50.00%		50.00%
Restructuring and Related Cost, Cost Incurred to Date	$ 30,400		$ 30,400
Phase 1 [Member] | Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Percent	45.00%		45.00%
Restructuring and Related Cost, Cost Incurred to Date	$ 25,516		$ 25,516
Phase 1 [Member] | Corporate, Non-Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Percent	5.00%		5.00%
Phase 1 [Member] | Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	$ 2,426		$ 2,426
Phase 2 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	42,288		42,288
Phase 2 [Member] | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	90,000		90,000
Phase 2 [Member] | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	$ 100,000		$ 100,000
Phase 2 [Member] | Industrial [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Percent	85.00%		85.00%
Restructuring and Related Cost, Cost Incurred to Date	$ 25,291		$ 25,291
Phase 2 [Member] | Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Percent	10.00%		10.00%
Restructuring and Related Cost, Cost Incurred to Date	$ 11,795		$ 11,795
Phase 2 [Member] | Corporate, Non-Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Percent	5.00%		5.00%
Phase 2 [Member] | Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	$ 5,202		$ 5,202
Phase 3 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	14,525		14,525
Phase 3 [Member] | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	40,000		40,000
Phase 3 [Member] | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	$ 45,000		$ 45,000
Phase 3 [Member] | Industrial [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Percent	55.00%		55.00%
Restructuring and Related Cost, Cost Incurred to Date	$ 8,407		$ 8,407
Phase 3 [Member] | Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Percent	40.00%		40.00%
Restructuring and Related Cost, Cost Incurred to Date	$ 4,505		$ 4,505
Phase 3 [Member] | Corporate, Non-Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost Percent	5.00%		5.00%
Phase 3 [Member] | Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	$ 1,613		$ 1,613
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Related Charges Recorded in Cost of Goods Sold	1,106	335	4,678	6,540
Operating Expense [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Related Charges Recorded in Cost of Goods Sold	$ 5,400	$ 658	$ 13,168	$ 6,176

Stock-Based Compensation - Gran

Stock-Based Compensation - Grants Valuation Assumptions (Details) - Stock Option [Member]		9 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
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]	31.70%	32.50%
Expected dividend yield		2.10%	1.70%
[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)	9 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares
Changes in stock options
Options outstanding, June 30, 2015 | shares	2,094,037
Options, Granted | shares	885,403
Options, Exercised | shares	(38,569)
Options, Lapsed or Forfeited | shares	(369,945)
Options outstanding, March 31, 2016 | shares	2,570,926
Options vested and expected to vest, March 31, 2016 | shares	2,512,561
Options exercisable, March 31, 2016 | shares	1,648,381
Weighted Average Exercise Price, Options outstanding, June 30, 2015 | $ / shares	$ 36.08
Weighted Average Exercise Price, Granted | $ / shares	28.29
Weighted Average Exercise Price, Exercised | $ / shares	25.02
Weighted Average Exercise Price, Lapsed or Forfeited | $ / shares	34.95
Weighted Average Exercise Price, Options outstanding, March 31, 2016 | $ / shares	33.72
Weighted Average Exercise Price, Option vested and expected to vest, March 31, 2016 | $ / shares	33.80
Weighted Average Exercise Price, Options exercisable, March 31, 2016 | $ / shares	$ 35.36
Weighted Average Remaining Life, Options outstanding, March 31, 2016	5 years 1 month
Weighted Average Remaining Life, Options vested and expected to vest, March 31, 2016	5 years
Weighted Average Remaining Life, Options exercisable, March 31, 2016	2 years 11 months
Aggregate Intrinsic value, Options outstanding, March 31, 2016 | $	$ 740,000
Aggregate Intrinsic Value, Options vested and expected to vest, March 31, 2016 | $	720,000
Aggregate Intrinsic Value, Options exercisable, March 31, 2016 | $	$ 145,000

Stock-Based Compensation - Ch48

Stock-Based Compensation - Changes in Restricted Stock Units (Details)	9 Months Ended
	Mar. 31, 2016$ / sharesshares
Restricted Stock Units - Performance Vesting [Member]
Changes in restricted stock awards
Unvested restricted stock awards, June 30, 2015, Shares | shares	101,245
Granted, Shares | shares	117,589
Vested, Shares | shares	0
Performance Metric Not Achieved, Shares | shares	(42,697)
Forfeited, Shares | shares	(60,670)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares	$ 32.70
Unvested restricted stock awards, March 31, 2016 | shares	115,467
Weighted Average Fair Value, Unvested restricted stock awards, June 30, 2015 | $ / 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, 2016 | $ / shares	$ 36.96
Restricted Stock Units - Time Vesting [Member]
Changes in restricted stock awards
Unvested restricted stock awards, June 30, 2015, Shares | shares	689,268
Granted, Shares | shares	755,787
Vested, Shares | shares	(284,778)
Forfeited, Shares | shares	(127,995)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares	$ 35.79
Unvested restricted stock awards, March 31, 2016 | shares	1,032,282
Weighted Average Fair Value, Unvested restricted stock awards, June 30, 2015 | $ / shares	$ 41.53
Weighted Average Fair Value, Granted | $ / shares	27.49
Weighted Average Fair Value, Vested | $ / shares	40.80
Weighted Average Fair Value, Unvested restricted stock awards, March 31, 2016 | $ / shares	$ 32.13

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
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	$ 2.8	$ 3
Unrecognized compensation cost	$ 2.9
Unrecognized compensation costs, weighted average period	2 years 1 month
Weighted average fair value of options granted	$ 6.45	$ 10.16
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value	$ 2.3	$ 7.4
Tax benefits resulting from stock-based compensation deductions (less than) in excess of amounts reported for financial reporting purposes	1.8	(1.6)
Cash received from the exercise of capital stock option	1	8.3
Tax benefit from the exercise of capital stock option		1.6
Total Intrinsic value of options exercised		4.3
Restricted Stock Units - Time Vesting Performance Vesting [Member]
Stock-Based Compensation (Textual) [Abstract]
Compensation expense related to stock option	11.7	$ 11.1
Unrecognized compensation cost	$ 16.7
Unrecognized compensation costs, weighted average period	2 years 2 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		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Net periodic pension (income)
Service cost	$ 1,154	$ 1,349	$ 3,473	$ 4,148
Interest cost	9,375	9,575	28,299	29,256
Expected return on plan assets	(14,560)	(14,797)	(43,924)	(44,744)
Amortization of transition obligation	19	18	61	58
Amortization of prior service credit	(104)	(72)	(313)	(213)
Recognition of actuarial losses	1,805	871	5,452	2,809
Curtailment Gain	0	0	0	358
Special Termination Benefits Charge	0	0	214	459
Net periodic pension (income)	$ (2,311)	$ (3,056)	$ (6,738)	$ (7,869)

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		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Net periodic other postretirement benefit costs
Service cost	$ 0	$ 27	$ 0	$ 81
Interest cost	210	259	630	778
Amortization of prior service credit	(6)	(28)	(16)	(83)
Recognition of actuarial loss (gains)	81	207	242	621
Curtailment Gain	0	0	0	(221)
Net periodic other postretirement benefit cost	$ 285	$ 465	$ 856	$ 1,176

Benefit Plans Benefit Plans - N

Benefit Plans Benefit Plans - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Special Termination Benefits Charge	$ 0	$ 0	$ 214	$ 459
Curtailment Gain	0	0	0	358
Other Postretirement Benefit Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Curtailment Gain	$ 0	$ 0	$ 0	$ (221)

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Inventories
Finished goods	$ 300,941	$ 324,840
Work in process and powder blends	180,854	249,629
Raw materials	67,511	100,881
Inventories at current cost	549,306	675,350
Less: LIFO valuation	(63,916)	(99,819)
Total inventories	$ 485,390	$ 575,531
Inventories (Textual) [Abstract]
Percentage of inventories valued by using LIFO method	45.00%	47.00%

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Millions	Apr. 15, 2016	Mar. 31, 2016	Jun. 30, 2015	Oct. 21, 2011
Long-Term Debt (Additional Textual) [Abstract]
Fixed rate at fair market value		$ 665	$ 698
2011 Credit Agreement [Member]
Long-Term Debt (Textual) [Abstract]
Borrowing outstanding under 2011 Credit Agreement		$ 0	$ 42.8
Line of Credit Facility, Maximum Borrowing Capacity				$ 600
Subsequent Event [Member] | 2011 Credit Agreement [Member]
Long-Term Debt (Textual) [Abstract]
Cash Restructuring Add-Back to EBITDA	$ 120

Environmental Matters (Details)

Environmental Matters (Details) - USD ($) $ in Millions	Mar. 31, 2016	Jun. 30, 2015
Environmental Remediation Obligations [Abstract]
Reserves for Environmental Costs	$ 12.5	$ 12.6

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Income Tax (Textual) [Abstract]
Effective tax rate	24.70%	64.40%	28.00%	5.70%

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Beginning Balance			$ 1,375,435	$ 1,961,608
Net (loss) income	$ 16,695	$ (45,551)	(157,820)	(393,129)
Other comprehensive income (loss)	15,775	(72,198)	(6,196)	(143,824)
Dividend reinvestment			231	244
Capital stock issued under employee benefit and stock plans			11,243	19,950
Purchase of capital stock			(231)	(244)
Cash dividends paid			(47,851)	(42,746)
Ending Balance	1,174,811	1,401,859	1,174,811	1,401,859
Capital stock [Member]
Beginning Balance			99,219	98,340
Dividend reinvestment			12	7
Capital stock issued under employee benefit and stock plans			380	740
Purchase of capital stock			(12)	(7)
Ending Balance	99,599	99,080	99,599	99,080
Additional paid-in capital [Member]
Beginning Balance			419,829	395,890
Dividend reinvestment			219	237
Capital stock issued under employee benefit and stock plans			10,863	19,210
Purchase of capital stock			(219)	(237)
Ending Balance	430,692	415,100	430,692	415,100
Retained earnings [Member]
Beginning Balance			1,070,282	1,501,157
Net (loss) income			(159,454)	(395,043)
Cash dividends paid			(47,780)	(42,699)
Ending Balance	863,048	1,063,415	863,048	1,063,415
Accumulated other comprehensive (loss) income [Member]
Beginning Balance			(243,523)	(66,131)
Other comprehensive income (loss)			(5,656)	(140,287)
Ending Balance	(249,179)	(206,418)	(249,179)	(206,418)
Non-controlling interest [Member]
Beginning Balance			29,628	32,352
Net (loss) income			1,634	1,914
Other comprehensive income (loss)			(540)	(3,537)
Cash dividends paid			(71)	(47)
Ending Balance	$ 30,651	$ 30,682	$ 30,651	$ 30,682

Accumulated Other Comprehensi58

Accumulated Other Comprehensive (Loss) Income - Components of and Changes in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive (Loss) Income, Net of Tax	$ (264,427)	$ (135,483)	$ (243,523)	$ (66,131)
Other comprehensive (loss) income before reclassifications	15,731	(70,915)	(22,439)	(142,085)
Amounts reclassified from accumulated other comprehensive loss	(483)	(20)	16,783	1,798
Net current period other comprehensive (loss) income	15,248	(70,935)	(5,656)	(140,287)
Accumulated Other Comprehensive (Loss) Income, Net of Tax	(249,179)	(206,418)	(249,179)	(206,418)
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive (Loss) Income, Net of Tax	(133,922)	(86,688)	(138,793)	(93,742)
Other comprehensive (loss) income before reclassifications	(888)	4,293	1,561	9,858
Amounts reclassified from accumulated other comprehensive loss	1,219	685	3,641	2,174
Net current period other comprehensive (loss) income	331	4,978	5,202	12,032
Accumulated Other Comprehensive (Loss) Income, Net of Tax	(133,591)	(81,710)	(133,591)	(81,710)
Accumulated Currency Translation Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive (Loss) Income, Net of Tax	(121,702)	(40,637)	(97,309)	38,811
Other comprehensive (loss) income before reclassifications	17,256	(78,233)	(24,165)	(157,681)
Amounts reclassified from accumulated other comprehensive loss	(1,940)		15,088
Net current period other comprehensive (loss) income	15,316	(78,233)	(9,077)	(157,681)
Accumulated Other Comprehensive (Loss) Income, Net of Tax	(106,386)	(118,870)	(106,386)	(118,870)
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	(8,803)	(8,158)	(7,421)	(11,200)
Other comprehensive (loss) income before reclassifications	(637)	3,025	165	5,738
Amounts reclassified from accumulated other comprehensive loss	238	(705)	(1,946)	(376)
Net current period other comprehensive (loss) income	(399)	2,320	(1,781)	5,362
Accumulated Other Comprehensive (Loss) Income, Net of Tax	(9,202)	(5,838)	(9,202)	(5,838)
Noncontrolling Interest [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive (Loss) Income, Net of Tax	(3,325)	(1,187)	(2,258)	1,087
Other comprehensive (loss) income before reclassifications	527	(1,263)	(540)	(3,537)
Net current period other comprehensive (loss) income	527	(1,263)	(540)	(3,537)
Accumulated Other Comprehensive (Loss) Income, Net of Tax	(2,798)	(2,450)	(2,798)	(2,450)
Reclassification out of Accumulated Other Comprehensive Loss [Member] | Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest	1,795	996	5,426	3,192
Reclassification out of Accumulated Other Comprehensive Loss [Member] | Accumulated Currency Translation Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest	(1,940)	0	15,088	0
Reclassification out of Accumulated Other Comprehensive Loss [Member] | Accumulated Net (Loss) Gain from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest	$ 384	$ (1,148)	$ (3,139)	$ (612)

Accumulated Other Comprehensi59

Accumulated Other Comprehensive (Loss) Income - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Loss [Line Items]
Currency exchange contracts	$ 1,938	$ 378	$ 1,582	$ (32)
Recognition of actuarial losses	1,795	996	5,426	3,192
Foreign currency translation reclassification adjustment, released due to divestiture	1,940	0	(15,088)	0
Provision (benefit) for income taxes	(5,465)	82,223	61,499	23,975
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	384	(1,148)	(3,139)	(612)
Provision (benefit) for income taxes	(146)	443	1,193	236
Net of tax	238	(705)	(1,946)	(376)
Reclassification out of Accumulated Other Comprehensive Loss [Member] | Accumulated Defined Benefit Plans Adjustment [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Loss [Line Items]
Amortization of transition obligations	19	18	61	58
Amortization of prior service credit	(110)	(100)	(329)	(296)
Recognition of actuarial losses	1,886	1,078	5,694	3,430
Total before tax	1,795	996	5,426	3,192
Provision (benefit) for income taxes	(576)	(311)	(1,785)	(1,018)
Net of tax	1,219	685	3,641	2,174
Reclassification out of Accumulated Other Comprehensive Loss [Member] | Accumulated Currency Translation Adjustment [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Loss [Line Items]
Foreign currency translation reclassification adjustment, released due to divestiture	(1,940)	0	15,088	0
Total before tax	(1,940)	0	15,088	0
Provision (benefit) for income taxes	0	0	0	0
Net of tax	(1,940)	0	15,088	0
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	1,574	1,515
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	$ (141)	$ (1,653)	$ (4,713)	$ (2,127)

Accumulated Other Comprehensi60

Accumulated Other Comprehensive (Loss) Income Other Comprehensive Income - Income Tax Allocated to Each Component (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Other Comprehensive Income - Income Tax Allocated to Each Component [Abstract]
Unrealized gain on derivatives designated and qualified as cash flow hedges, before tax	$ (1,027)	$ 4,927	$ 266	$ 9,345
Unrealized gain on derivatives designated and qualified as cash flow hedges, tax	390	(1,902)	(101)	(3,607)
Unrealized (loss) gain on derivatives designated and qualified as cash flow hedges, net of tax	(637)	3,025	165	5,738
Reclassification of unrealized (gain) loss on expired derivatives designated and qualified as cash flow hedges, before tax	384	(1,148)	(3,139)	(612)
Reclassification of unrealized (gain) loss on expired derivatives designated and qualified as cash flow hedges, tax	(146)	443	1,193	236
Reclassification of unrealized loss (gain) on expired derivatives designated and qualified as cash flow hedges, net of tax	238	(705)	(1,946)	(376)
Unrecognized net pension and other postretirement benefit gain, before tax	(1,332)	5,895	1,884	13,481
Unrecognized net pension and other postretirement benefit gain, tax	444	(1,602)	(323)	(3,623)
Unrecognized net pension and other postretirement benefit (loss) gain, net of tax	(888)	4,293	1,561	9,858
Reclassification of net pension and other postretirement benefit loss, before tax	1,795	996	5,426	3,192
Reclassification of net pension and other postretirement benefit loss, tax	(576)	(311)	(1,785)	(1,018)
Reclassification of net pension and other postretirement benefit loss, net of tax	1,219	685	3,641	2,174
Foreign currency translation adjustment, before tax	19,432	(83,881)	(25,294)	(170,400)
Foreign currency translation adjustment, tax	(1,649)	4,385	589	9,182
Foreign currency translation adjustment, net of tax	17,783	(79,496)	(24,705)	(161,218)
Reclassification of foreign currency translation adjustment loss realized upon sale, before Tax	(1,940)	0	15,088	0
Reclassification of foreign currency translation adjustment loss realized upon sale, Tax	0	0	0	0
Reclassification of foreign currency translation adjustment (gain) loss realized upon sale, net of tax	(1,940)	0	15,088	0
Other comprehensive (loss), before tax	17,312	(73,211)	(5,769)	(144,994)
Other comprehensive (loss), tax	(1,537)	1,013	(427)	1,170
Other comprehensive income (loss), net of tax	$ 15,775	$ (72,198)	$ (6,196)	$ (143,824)

Goodwill and Other Intangible61

Goodwill and Other Intangible Assets - Carrying Amount of Goodwill Attributable to Each Segment (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2016USD ($)	Jun. 30, 2015USD ($)
Goodwill [Roll Forward]
Goodwill	$ 1,086,162	$ 1,095,731
Accumulated impairment losses	(784,053)	(678,342)
Goodwill, Beginning Balance	417,389
Translation	(2,033)
Change in goodwill	(9,569)
Goodwill, Written off Related to Sale of Business Unit	(7,536)
Goodwill, Impairment Loss	(105,711)
Goodwill, Ending Balance	302,109
Industrial [Member]
Goodwill [Roll Forward]
Goodwill	452,951	455,371
Accumulated impairment losses	(150,842)	(150,842)
Goodwill, Beginning Balance	304,529
Translation	(1,345)
Change in goodwill	(2,420)
Goodwill, Written off Related to Sale of Business Unit	(1,075)
Goodwill, Impairment Loss	0
Goodwill, Ending Balance	302,109
Infrastructure [Member]
Goodwill [Roll Forward]
Goodwill	633,211	640,360
Accumulated impairment losses	(633,211)	$ (527,500)
Goodwill, Beginning Balance	112,860
Translation	(688)
Change in goodwill	(7,149)
Goodwill, Written off Related to Sale of Business Unit	(6,461)
Goodwill, Impairment Loss	(105,711)
Goodwill, Ending Balance	$ 0

Goodwill and Other Intangible62

Goodwill and Other Intangible Assets - Components of Other Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2016	Jun. 30, 2015
The components of intangible assets
Accumulated amortization	$ (110,664)	$ (153,370)
Intangible Assets, Gross (Excluding Goodwill)	323,373	440,039
Trademarks [Member]
The components of intangible assets
Gross carrying amount, Indefinite	17,205	24,876
Contract-based [Member]
The components of intangible assets
Gross carrying amount, finite	7,183	8,523
Accumulated amortization	(6,736)	(6,990)
Technology-based and other [Member]
The components of intangible assets
Gross carrying amount, finite	47,813	52,820
Accumulated amortization	(26,863)	(29,723)
Customer-related [Member]
The components of intangible assets
Gross carrying amount, finite	206,464	275,796
Accumulated amortization	(64,204)	(90,141)
Unpatented technology [Member]
The components of intangible assets
Gross carrying amount, finite	31,958	59,449
Accumulated amortization	(4,390)	(14,426)
Trademarks [Member]
The components of intangible assets
Gross carrying amount, finite	12,750	18,575
Accumulated amortization	$ (8,471)	$ (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 Intangible63

Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2016	Mar. 31, 2015	Jun. 30, 2015
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Goodwill, Impairment Loss				$ (105,711)
Goodwill	$ 302,109			302,109		$ 417,389
Goodwill, Written off Related to Sale of Business Unit				7,536
Amortization expense for intangible assets	4,429	$ 6,402		16,315	$ 20,361
Infrastructure [Member]
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Goodwill, Impairment Loss				(105,711)
Goodwill	0			0		112,860
Goodwill, Written off Related to Sale of Business Unit				6,461
Infrastructure [Member] | Infrastructure Technology Asset [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Asset Write-Down		10,500
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Impairment of Intangible Assets (Excluding Goodwill)		5,500
Reduction of Liability		5,000
Infrastructure [Member] | Portfolio of Businesses for Strategic Alternatives [Member]
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Net Book Value	40,000			40,000
Industrial [Member]
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Goodwill, Impairment Loss				0
Goodwill	302,109			302,109		$ 304,529
Goodwill, Written off Related to Sale of Business Unit				1,075
December Charges [Member] | Infrastructure [Member]
Finite-Lived Intangible Assets [Line Items]
Asset Impairment Charges			$ 376,500
Goodwill and Intangible Asset Impairment	106,100
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Goodwill, Impairment Loss	$ (105,700)		(375,000)
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)				400
December Charges [Member] | Industrial [Member]
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)				2,300
March Charges [Member] | Infrastructure [Member]
Finite-Lived Intangible Assets [Line Items]
Asset Impairment Charges		152,900
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Goodwill, Impairment Loss		(152,500)
Trademarks [Member]
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Indefinite-lived Intangible Assets, Written off Related to Sale of Business Unit				5,000
Customer-related [Member]
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Finite-lived Intangible Assets, Written off Related to Sale of Business Unit				30,000
Unpatented Technology [Member]
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Finite-lived Intangible Assets, Written off Related to Sale of Business Unit				15,400
Trademarks [Member]
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Finite-lived Intangible Assets, Written off Related to Sale of Business Unit				1,100
Technology-Based and other [Member]
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Finite-lived Intangible Assets, Written off Related to Sale of Business Unit				800
Contractual Rights [Member]
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Finite-lived Intangible Assets, Written off Related to Sale of Business Unit				500
Infrastructure Indefinite-Lived Trademark Asset [Member] | December Charges [Member] | Infrastructure [Member]
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Impairment of Intangible Assets (Excluding Goodwill)			$ 1,500	$ 8,700
Infrastructure Indefinite-Lived Trademark Asset [Member] | March Charges [Member] | Infrastructure [Member]
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Impairment of Intangible Assets (Excluding Goodwill)		400
Infrastructure Indefinite-Lived Trademark Asset [Member] | Charge Associated with Finalization [Member] | Infrastructure [Member]
Goodwill and Other Intangible Assets (Additional Textual) [Abstract]
Impairment of Intangible Assets (Excluding Goodwill)		$ 6,800

Segment Data - Sales and Operat

Segment Data - Sales and Operating Income (Loss) by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Jun. 30, 2015
Segment Reporting Information [Line Items]
Assets	$ 2,491,939		$ 2,491,939		$ 2,849,529
External sales:
Total sales	497,837	$ 638,970	1,577,212	$ 2,009,543
Operating income (loss):
Total operating income (loss)	27,335	(120,392)	(200,006)	(393,143)
Interest expense	7,113	7,760	20,895	23,929
Other (income) expense, net	(1,938)	(378)	(1,582)	32
Income (loss) from continuing operations before income taxes	22,160	(127,774)	(219,319)	(417,104)
Industrial [Member]
Segment Reporting Information [Line Items]
Assets	1,225,191		1,225,191		1,259,270
External sales:
Total sales	316,372	354,810	940,588	1,104,225
Operating income (loss):
Total operating income (loss)	24,692	35,311	51,802	121,123
Infrastructure [Member]
Segment Reporting Information [Line Items]
Assets	866,381		866,381		1,279,608
External sales:
Total sales	181,465	284,160	636,624	905,318
Operating income (loss):
Total operating income (loss)	3,748	(153,100)	(242,417)	(505,799)
Corporate [Member]
Segment Reporting Information [Line Items]
Assets	400,367		400,367		$ 310,651
Operating income (loss):
Total operating income (loss)	$ (1,105)	$ (2,603)	$ (9,391)	$ (8,467)