Kennametal (KMT) 10-Q 4 Feb 20 2020 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Dec. 31, 2019	Jan. 31, 2020
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	1-5318
Entity Registrant Name	KENNAMETAL INC.
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	25-0900168
Entity Address, Address Line One	525 William Penn Place
Entity Address, Address Line Two	Suite 3300
Entity Address, City or Town	Pittsburgh,
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15219
City Area Code	412
Local Phone Number	248-8000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		82,898,074
Entity Central Index Key	0000055242
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false
Capital Stock, par value $1.25 per share | New York Stock Exchange
Document Information [Line Items]
Title of 12(b) Security	Capital Stock, par value $1.25 per share
Trading Symbol	KMT
Security Exchange Name	NYSE
Preferred Stock Purchase Rights | New York Stock Exchange
Document Information [Line Items]
Title of 12(b) Security	Preferred Stock Purchase Rights
Security Exchange Name	NYSE
No Trading Symbol Flag	true
Former Address [Member]
Document Information [Line Items]
Entity Address, Address Line One	600 Grant Street
Entity Address, Address Line Two	Suite 5100
Entity Address, City or Town	Pittsburgh,
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15219-2706

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Sales	$ 505,080	$ 587,394	$ 1,023,168	$ 1,174,080
Cost of goods sold	373,062	388,796	752,170	764,389
Gross profit	132,018	198,598	270,998	409,691
Operating expense	107,548	114,635	221,739	237,920
Restructuring and asset impairment charges (Notes 7 and 18)	62,329	1,545	66,995	2,620
Loss on divestiture (Note 4)	6,517	0	6,517	0
Amortization of intangibles	3,262	3,560	7,008	7,141
Operating (loss) income	(47,638)	78,858	(31,261)	162,010
Interest expense	8,055	8,104	15,936	16,201
Other income, net	(4,211)	(4,022)	(6,891)	(6,782)
(Loss) income before income taxes	(51,482)	74,776	(40,306)	152,591
(Benefit) provision for income taxes	(45,253)	18,529	(41,487)	37,921
Net (loss) income	(6,229)	56,247	1,181	114,670
Less: Net (loss) income attributable to noncontrolling interests	(290)	1,549	653	3,274
Net (loss) income attributable to Kennametal	$ (5,939)	$ 54,698	$ 528	$ 111,396
PER SHARE DATA ATTRIBUTABLE TO KENNAMETAL SHAREHOLDERS
Basic (loss) earnings per share	$ (0.07)	$ 0.66	$ 0.01	$ 1.35
Diluted (loss) earnings per share	(0.07)	0.66	0.01	1.34
Dividends per share	$ 0.20	$ 0.20	$ 0.40	$ 0.40
Basic weighted average shares outstanding	83,075	82,331	82,979	82,218
Diluted weighted average shares outstanding	83,075	83,310	83,618	83,233
Noncontrolling Interest [Member]
Net (loss) income	$ (290)	$ 1,549	$ 653	$ 3,274

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Net (loss) income	$ (6,229)	$ 56,247	$ 1,181	$ 114,670
Other comprehensive income (loss), net of tax [Abstract]
Unrealized gain (loss) on derivatives designated and qualified as cash flow hedges	461	170	856	(91)
Reclassification of unrealized (gain) loss on derivatives designated and qualified as cash flow hedges	(393)	262	(212)	857
Unrecognized net pension and other postretirement benefit (loss) gain	(3,056)	871	(449)	1,194
Reclassification of net pension and other postretirement benefit loss	1,990	1,298	3,950	2,606
Foreign currency translation adjustments	25,751	(3,400)	(9,674)	(19,605)
Total other comprehensive income (loss), net of tax	24,753	(799)	(5,529)	(15,039)
Total comprehensive income (loss)	18,524	55,448	(4,348)	99,631
Less: comprehensive income (loss) attributable to noncontrolling interests	247	2,049	(201)	2,542
Comprehensive income (loss) attributable to Kennametal Shareholders	$ 18,277	$ 53,399	$ (4,147)	$ 97,089

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Current assets:
Cash and cash equivalents	$ 105,210	$ 182,015
Accounts receivable, less allowance for doubtful accounts of $10,693 and $10,083, respectively	310,379	379,855
Inventories (Note 10)	522,499	571,576
Other current assets	97,824	57,381
Total current assets	1,035,912	1,190,827
Property, plant and equipment:
Land and buildings	350,138	351,142
Machinery and equipment	1,886,074	1,804,871
Less accumulated depreciation	(1,227,574)	(1,221,118)
Property, plant and equipment, net	1,008,638	934,895
Other assets:
Goodwill (Note 18)	285,826	300,011
Other intangible assets, less accumulated amortization of $130,964 and $158,507, respectively (Note 18)	141,398	160,998
Operating lease right-of-use assets (Note 11)	50,153	0
Deferred income taxes	33,386	20,507
Other	67,720	49,031
Total other assets	578,483	530,547
Total assets	2,623,033	2,656,269
Current liabilities:
Notes payable to banks	2,102	157
Current operating lease liabilities (Note 11)	13,993	0
Accounts payable	173,160	212,908
Accrued income taxes	8,859	29,223
Accrued expenses	45,135	76,616
Other current liabilities	165,861	142,822
Total current liabilities	409,110	461,726
Long-term debt, less current maturities (Note 12)	593,223	592,474
Operating lease liabilities (Note 11)	36,415	0
Deferred income taxes	23,283	23,322
Accrued pension and postretirement benefits	170,918	174,003
Accrued income taxes	9,146	9,038
Other liabilities	33,911	21,002
Total liabilities	1,276,006	1,281,565
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; 82,894 and 82,421 shares issued, respectively	103,618	103,026
Additional paid-in capital	536,522	528,827
Retained earnings	1,044,247	1,076,862
Accumulated other comprehensive loss	(378,219)	(373,543)
Total Kennametal Shareholders' Equity	1,306,168	1,335,172
Noncontrolling interests	40,859	39,532
Total equity	1,347,027	1,374,704
Total liabilities and equity	$ 2,623,033	$ 2,656,269

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 10,693	$ 10,083
Accumulated amortization on other intangible assets	$ 130,964	$ 158,507
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	82,894	82,421

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
OPERATING ACTIVITIES
Net income	$ 1,181	$ 114,670
Adjustments for non-cash items:
Depreciation	53,801	47,807
Amortization	7,008	7,141
Stock-based compensation expense	13,974	13,435
Restructuring and asset impairment charges (Notes 7 and 18))	17,708	(257)
Deferred income tax provision	(13,750)	1,512
Loss on divestiture (Note 4)	6,517	0
Other	350	2,109
Changes in certain assets and liabilities:
Accounts receivable	64,546	14,026
Inventories	34,329	(59,190)
Accounts Payable and accrued liabilities	(28,548)	(82,828)
Accrued income taxes	(53,020)	7,995
Accrued pension and postretirement benefits	(12,101)	(9,760)
Other	(4,898)	4,841
Net cash flow provided by operating activities	87,097	61,501
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(147,532)	(88,076)
Disposals of property, plant and equipment	835	2,490
Proceeds from divestiture (Note 4)	23,950	0
Other	(922)	89
Net cash flow used for investing activities	(123,669)	(85,497)
FINANCING ACTIVITIES
Net increase in notes payable	1,927	2,473
Net increase in short-term revolving and other lines of credit	0	(174)
Term debt repayments	0	(400,000)
Purchase of capital stock	(106)	(107)
The effect of employee benefit and stock plans and dividend reinvestment	5,583	2,182
Cash dividends paid to Shareholders	(33,143)	(32,820)
Other	(1,779)	151
Net cash flow used for financing activities	(38,684)	(432,659)
Effect of exchange rate changes on cash and cash equivalents	(1,549)	(3,222)
CASH AND CASH EQUIVALENTS
Net decrease in cash and cash equivalents	(76,805)	(459,877)
Cash and cash equivalents, beginning of period	182,015	556,153
Cash and cash equivalents, end of period	$ 105,210	$ 96,276

Basis of Presentation

Basis of Presentation	6 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The condensed consolidated financial statements and accompanying notes included in this Quarterly Report on Form 10-Q, which include our accounts and those of our majority-owned subsidiaries, should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2019 (the "2019 Annual Report"). The condensed consolidated balance sheet as of June 30, 2019 was derived from the audited balance sheet included in our 2019 Annual Report. The interim statements are unaudited; however, we believe that all adjustments necessary for a fair statement of the results of the interim periods were made and all adjustments are normal recurring adjustments. The results for the six months ended December 31, 2019 and 2018 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 2020 is to the fiscal year ending June 30, 2020 . When used in this Quarterly Report on Form 10-Q, unless the context requires otherwise, the terms "the Company," “we,” “our” and “us” refer to Kennametal Inc. and its subsidiaries.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Dec. 31, 2019
Accounting Changes and Error Corrections [Abstract]
NEW ACCOUNTING STANDARDS	NEW ACCOUNTING STANDARDS Adopted In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-02, "Leases: Topic 842," 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 substantially all leases. We adopted this ASU on July 1, 2019 using the modified retrospective transition approach with the optional transition relief that allows for a cumulative-effect adjustment in the period of adoption and without a restatement of prior periods. Therefore, prior period amounts were not adjusted and will continue to be reported under the accounting standards in effect for those periods. We determined that there was no cumulative-effect adjustment to beginning retained earnings on the condensed consolidated balance sheet. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed us to carry forward historical lease classification. Adoption of this ASU resulted in the recording of lease liabilities of approximately $49 million with the offset to lease ROU assets of $49 million as of July 1, 2019. The standard did not materially impact our condensed consolidated statement of income and our condensed consolidated statement of cash flows. Refer to Note 11 for additional disclosures regarding the adoption of this new standard. In August 2017, the FASB issued ASU No. 2017-12, "Targeted Improvements to Accounting for Hedging Activities," which seeks to improve financial reporting and obtain closer alignment with risk management activities, in addition to simplifying the application of hedge accounting guidance and additional disclosures. We adopted this ASU on July 1, 2019. Adoption of this guidance did not have a material effect on our condensed consolidated financial statements. In February 2018, the FASB issued ASU No. 2018-02, “Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income," which includes amendments allowing the reclassification of the income tax effects of the Tax Cuts and Jobs Act of 2017 (TCJA) to improve the usefulness of information reported to financial statement users. The amendments in this update also require certain disclosures about stranded tax effects. Certain guidance is optional and was effective for Kennametal July 1, 2019. We elected not to reclassify the stranded tax effects as permissible under this standard. Adoption of this guidance did not have a material effect on our condensed consolidated financial statements. In June 2018, the FASB issued ASU No. 2018-07, “Improvements to Nonemployee Share-Based Payment Accounting," which expands the scope of accounting for stock-based compensation to nonemployees. We adopted this ASU on July 1, 2019. Adoption of this guidance did not have a material effect on our condensed consolidated financial statements. Issued In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes,” which is intended to simplify various aspects related to accounting for income taxes by eliminating certain exceptions within ASC 740, Income Taxes , and clarifying certain aspects of the current guidance. This standard is effective for Kennametal beginning July 1, 2021, with early adoption permitted. The Company is in the process of assessing the impact the adoption of this guidance may have on our condensed consolidated financial statements.

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	6 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Six Months Ended December 31, (in thousands) 2019 2018 Cash paid during the period for: Income taxes $ 24,400 $ 28,414 Interest 13,953 16,745 Supplemental disclosure of non-cash information: Changes in accounts payable related to purchases of property, plant and equipment (2,700 ) (100 )

Divestiture (Notes)

Divestiture (Notes)	6 Months Ended
	Dec. 31, 2019
Divestiture [Abstract]
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	DIVESTITURE During the three months ended December 31, 2019, we completed the sale of certain assets of the non-core specialty alloys and metals business within the Infrastructure segment located in New Castle, Pennsylvania to Advanced Metallurgical Group N.V. for an aggregate price of $24.0 million . The net book value of these assets at closing was $29.5 million , and the pre-tax loss on divestiture recognized during the three months ended December 31, 2019 was $6.5 million . Transaction proceeds were primarily used for capital expenditures related to our simplification/modernization efforts.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy consists of three levels to prioritize the inputs used in valuations, as defined below: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3: Inputs that are unobservable. As of December 31, 2019 , the fair values of our financial assets and financial liabilities are categorized as follows: (in thousands) Level 1 Level 2 Level 3 Total Assets: Derivatives (1) $ — $ 211 $ — $ 211 Total assets at fair value $ — $ 211 $ — $ 211 Liabilities: Derivatives (1) $ — $ 200 $ — $ 200 Total liabilities at fair value $ — $ 200 $ — $ 200 As of June 30, 2019 , the fair values of our financial assets and financial liabilities are categorized as follows: (in thousands) Level 1 Level 2 Level 3 Total Assets: Derivatives (1) $ — $ 152 $ — $ 152 Total assets at fair value $ — $ 152 $ — $ 152 Liabilities: Derivatives (1) $ — $ 55 $ — $ 55 Total liabilities at fair value $ — $ 55 $ — $ 55 (1) Currency derivatives are valued based on observable market spot and forward rates and are classified within Level 2 of the fair value hierarchy.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Dec. 31, 2019
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 fair value of derivatives designated and not designated as hedging instruments in the condensed consolidated balance sheet are as follows: (in thousands) December 31, June 30, Derivatives designated as hedging instruments Other current assets - range forward contracts $ 211 $ 145 Total derivatives designated as hedging instruments 211 145 Derivatives not designated as hedging instruments Other current assets - currency forward contracts — 8 Other current liabilities - currency forward contracts (200 ) (56 ) Total derivatives not designated as hedging instruments (200 ) (48 ) Total derivatives $ 11 $ 97 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, net. (Gains) losses related to derivatives not designated as hedging instruments have been recognized as follows: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2019 2018 2019 2018 Other income, net - currency forward contracts $ (1 ) $ (2 ) $ 112 $ 76 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 are recorded in accumulated other comprehensive loss and are recognized as a component of cost of goods sold and other income, net when the underlying sale of products or services is recognized into earnings. The notional amount of the contracts translated into U.S. dollars at December 31, 2019 and June 30, 2019 , was $29.2 million and $61.5 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 December 31, 2019 , we expect to recognize into earnings $0.1 million of expense on outstanding derivatives in the next 12 months. The following represents gains and losses related to cash flow hedges: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2019 2018 2019 2018 Gains (losses) recognized in other comprehensive income (loss), net $ 461 $ 170 $ 856 $ (91 ) Losses reclassified from accumulated other comprehensive loss into cost of goods sold and other income, net $ 391 $ 565 $ 550 $ 1,097 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 six months ended December 31, 2019 and 2018. NET INVESTMENT HEDGES As of December 31, 2019 , we had certain foreign currency-denominated intercompany loans payable with total aggregate principal amounts of €42.5 million as net investment hedges to hedge the foreign exchange exposure of our net investment in our Euro-based subsidiaries. We recorded a loss of $1.2 million and a gain of $0.5 million as a component of foreign currency translation adjustments in other comprehensive loss for the three months ended December 31, 2019 and 2018, respectively. We recorded a loss of $0.1 million and a gain of $0.5 million as a component of foreign currency translation adjustments in other comprehensive loss for the six months ended December 31, 2019 and 2018, respectively. As of December 31, 2019 , the foreign currency-denominated intercompany loans payable designated as net investment hedges consisted of: Instrument Notional (EUR in thousands) (2) Notional (USD in thousands) (2) Maturity Foreign currency-denominated intercompany loan payable € 28,527 $ 32,060 June 26, 2022 Foreign currency-denominated intercompany loan payable 20,028 22,508 November 22, 2021 (2) Includes principal and accrued interest.

Restructuring and Related Charg

Restructuring and Related Charges	6 Months Ended
	Dec. 31, 2019
Restructuring Charges [Abstract]
RESTRUCTURING AND RELATED CHARGES	RESTRUCTURING AND RELATED CHARGES FY20 Restructuring Actions In the June quarter of fiscal 2019, we began implementing the current phase of restructuring associated with our simplification/modernization initiative. These actions are expected to reduce structural costs, improve operational efficiency and position us for long-term profitable growth. These actions are expected to be completed in fiscal 2020 and are expected to be primarily cash expenditures. The pre-tax charges for these programs are expected to be in the range of $55 million to $65 million , which are expected to be 80 percent Industrial, 15 percent Infrastructure and 5 percent Widia. Total restructuring and related charges since inception of $44.5 million were recorded for this program through December 31, 2019 , consisting of: $36.6 million in Industrial, $5.8 million in Infrastructure and $2.2 million in Widia. FY21 Restructuring Actions On July 11, 2019, we announced the initiation of restructuring actions in Germany associated with simplification/modernization, which are expected to reduce structural costs. We have agreed with local employee representatives to downsize the Essen, Germany operations instead of the previously proposed closure. We are also evaluating the acceleration of other facility closures as part of these restructuring activities. These actions are expected to be completed by the end of fiscal 2021 and are expected to be primarily cash expenditures. The pre-tax charges for these programs are expected to be in the range of $55 million to $65 million , which is expected to be primarily in the Industrial segment. Total restructuring and related charges since inception of $28.7 million were recorded for this program through December 31, 2019 in the Industrial segment. Restructuring and Related Charges Recorded We recorded restructuring and related charges of $51.3 million and $2.1 million for the three months ended December 31, 2019 and 2018 , respectively. Of these amounts, restructuring charges for the three months ended December 31, 2019 totaled $48.0 million , of which $0.3 million were related to inventory and were recorded in cost of goods sold, and restructuring charges for the three months ended December 31, 2018 totaled $1.5 million . Restructuring-related charges of $3.3 million and $0.6 million were recorded in cost of goods sold for the three months ended December 31, 2019 and 2018 , respectively. We recorded restructuring and related charges of $59.3 million and $3.1 million for the six months ended December 31, 2019 and 2018 , respectively. Of these amounts, restructuring charges for the six months ended December 31, 2019 totaled $52.7 million , of which $0.3 million were related to inventory and were recorded in cost of goods sold, and restructuring charges for the six months ended December 31, 2018 totaled $2.6 million . Restructuring-related charges of $6.6 million and $0.5 million were recorded in cost of goods sold for the six months ended December 31, 2019 and 2018 , respectively. As of December 31, 2019 , $43.5 million and $13.0 million of the restructuring accrual is recorded in other current liabilities and other liabilities, respectively, in our condensed consolidated balance sheet. The restructuring accrual of $19.2 million as of June 30, 2019 is recorded in other current liabilities. The amount attributable to each segment is as follows: (in thousands) June 30, 2019 Expense Asset Write-Down Translation Cash Expenditures December 31, 2019 Industrial Severance $ 8,863 $ 47,429 $ — $ 325 $ (10,337 ) $ 46,280 Facilities — 2,298 (2,298 ) — — — Other 35 4 — — (14 ) 25 Total Industrial $ 8,898 $ 49,731 $ (2,298 ) $ 325 $ (10,351 ) $ 46,305 Widia Severance $ 2,306 $ 329 $ — $ (21 ) $ (221 ) $ 2,393 Facilities — 24 (24 ) — — — Other 24 — — — — 24 Total Widia $ 2,330 $ 353 $ (24 ) $ (21 ) $ (221 ) $ 2,417 Infrastructure Severance $ 7,956 $ 1,870 $ — $ (213 ) $ (1,863 ) $ 7,750 Facilities — 758 (758 ) — — — Other 28 2 — (1 ) (4 ) 25 Total Infrastructure $ 7,984 $ 2,630 $ (758 ) $ (214 ) $ (1,867 ) $ 7,775 Total $ 19,212 $ 52,714 $ (3,080 ) $ 90 $ (12,439 ) $ 56,497

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Stock Options Changes in our stock options for the six months ended December 31, 2019 were as follows: Options Weighted Average Exercise Price Weighted Average Remaining Life (years) Aggregate Intrinsic value (in thousands) Options outstanding, June 30, 2019 781,673 $ 33.92 Exercised (34,525 ) 26.62 Lapsed or forfeited (42,544 ) 43.30 Options outstanding, December 31, 2019 704,604 $ 33.71 3.3 $ 3,757 Options vested, December 31, 2019 704,604 $ 33.71 3.3 $ 3,757 Options exercisable, December 31, 2019 704,604 $ 33.71 3.3 $ 3,757 As of December 31, 2019 , there was no unrecognized compensation cost related to options outstanding. All options were fully vested as of December 31, 2019 . Fair value of options vested during the six months ended December 31, 2018 was $1.2 million . The amount of cash received from the exercise of options during the six months ended December 31, 2019 and 2018 was $0.7 million and $3.9 million , respectively. The total intrinsic value of options exercised during the six months ended December 31, 2019 and 2018 was $0.3 million and $1.8 million , respectively. Restricted Stock Units – Performance Vesting and Time Vesting Changes in our performance vesting and time vesting restricted stock units for the six months ended December 31, 2019 were as follows: Performance Vesting Stock Units Performance Vesting Weighted Average Fair Value Time Vesting Stock Units Time Vesting Weighted Average Fair Value Unvested, June 30, 2019 405,230 $ 35.58 926,927 $ 36.43 Granted 275,216 28.74 619,154 27.95 Vested (146,377 ) 27.09 (435,815 ) 33.79 Performance metric adjustments, net 32,707 32.79 — — Forfeited (1,440 ) 39.26 (8,479 ) 35.20 Unvested, December 31, 2019 565,336 $ 34.28 1,101,787 $ 32.72 During the six months ended December 31, 2019 and 2018, compensation expense related to time vesting and performance vesting restricted stock units was $13.4 million and $12.8 million , respectively. As of December 31, 2019 , the total unrecognized compensation cost related to unvested time vesting and performance vesting restricted stock units was $28.6 million and is expected to be recognized over a weighted average period of 2.1 years.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	6 Months Ended
	Dec. 31, 2019
Retirement Benefits [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFITS	The table below summarizes the components of net periodic pension income: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2019 2018 2019 2018 Service cost $ 445 $ 407 $ 895 $ 818 Interest cost 6,832 7,970 13,656 15,960 Expected return on plan assets (13,496 ) (13,434 ) (26,952 ) (26,896 ) Amortization of transition obligation 22 23 44 45 Amortization of prior service cost (credit) 13 (5 ) 25 (10 ) Recognition of actuarial losses 2,585 1,679 5,180 3,374 Settlement gain — — (122 ) — Net periodic pension income $ (3,599 ) $ (3,360 ) $ (7,274 ) $ (6,709 ) The table below summarizes the components of net periodic other postretirement benefit cost: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2019 2018 2019 2018 Interest cost $ 101 $ 153 $ 202 $ 307 Amortization of prior service credit (69 ) (22 ) (138 ) (45 ) Recognition of actuarial loss 64 62 128 124 Net periodic other postretirement benefit cost $ 96 $ 193 $ 192 $ 386 The service cost component of net periodic pension income is reported as a component of cost of goods sold and operating expense. All other components of net periodic pension income and net periodic other postretirement benefit cost are reported as a component of other income, net.

Inventories

Inventories	6 Months Ended
	Dec. 31, 2019
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES We used the last-in, first-out (LIFO) method of valuing inventories for 40 percent and 41 percent of total inventories at December 31, 2019 and June 30, 2019 , respectively. Inventory valuations under the LIFO method are based on an annual determination of quantities and costs as of June 30 of each year; therefore, the interim LIFO valuations are based on our projections of expected year-end inventory levels and costs and are subject to any final year-end LIFO inventory adjustments. Inventories consisted of the following: (in thousands) December 31, 2019 June 30, 2019 Finished goods $ 312,524 $ 311,684 Work in process and powder blends 194,933 246,414 Raw materials 78,892 95,620 Inventories at current cost 586,349 653,718 Less: LIFO valuation (63,850 ) (82,142 ) Total inventories $ 522,499 $ 571,576

Leases Leases

Leases Leases	6 Months Ended
	Dec. 31, 2019
Future Operating Lease Payments [Abstract]
Leases of Lessee Disclosure [Text Block]	LEASES At the inception of our contracts we determine if the contract is or contains a lease. A contract is or contains a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. ROU assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term at commencement. For leases that do not have a readily determinable implicit rate, we use a discount rate based on our incremental borrowing rate, which is determined considering factors such as the lease term, our credit rating and the economic environment of the location of the lease as of the commencement date. We account for non-lease components separately from lease components. These costs often relate to the payments for a proportionate share of real estate taxes, insurance, common area maintenance and other operating costs in addition to base rent. We also do not recognize ROU assets and liabilities for leases with an initial term of 12 months or less. Lease costs associated with leases of less than 12 months were $1.9 million and $4.0 million for the three and six months ended December 31, 2019 , respectively. As a lessee, we have various operating lease agreements primarily related to real estate, vehicles and office and plant equipment. Our real estate leases, which are comprised primarily of manufacturing, warehousing, office and administration facilities, represent a majority of our lease liability. Our lease payments are largely fixed. Any variable lease payments, including utilities, common area maintenance and repairs and maintenance, are expensed during the period incurred. Variable lease costs were immaterial for the three and six months ended December 31, 2019 . A majority of our real estate leases include options to extend the lease and options to early terminate the lease. Leases with an early termination option generally involve a termination payment. We review all options to extend, terminate, or purchase the ROU assets at the inception of the lease and account for these options when they are reasonably certain of being exercised. Our lease agreements generally do not contain any material residual value guarantees or materially restrictive covenants. We do not have any material leases that have been signed but not commenced, and we did not have any lease transactions with related parties. The weighted average remaining lease term and discount rate for our operating leases were approximately 8.9 years and 3.4 percent , respectively, at December 31, 2019 . Operating lease expense is recognized on a straight-line basis over the lease term and is included in operating expense on our consolidated statement of income. Operating lease cost was $4.2 million and $8.3 million for the three and six months ended December 31, 2019 , respectively. The following table sets forth supplemental cash flow information related to our operating leases: (in thousands) Six Months Ended December 31, 2019 Operating cash flows from operating leases $ 7,978 ROU assets obtained in exchange for new operating lease liabilities $ 5,572 The following table sets forth the maturities of our operating lease liabilities and reconciles the respective undiscounted payments to the operating lease liabilities in the condensed consolidated balance sheet as of December 31, 2019 : Year Ended June 30, December 31, 2019 Remaining six months of 2020 $ 8,206 2021 13,093 2022 8,532 2023 5,602 2024 3,884 Thereafter 19,304 Total undiscounted operating lease payments $ 58,621 Less: discount to net present value 8,213 Total operating lease liabilities $ 50,408 The following table sets forth the future minimum lease payments for non-cancelable operating leases as of the year ended June 30, 2019 : Year Ended June 30, (in thousands) June 30, 2019 2020 $ 17,074 2021 12,212 2022 6,693 2023 4,294 2024 2,636 Thereafter 17,168 Total future minimum lease payments $ 60,077

Long-Term Debt

Long-Term Debt	6 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Our five-year, multi-currency, revolving credit facility, as amended and restated in June 2018 (Credit Agreement), provides for revolving credit loans of up to $700 million for working capital, capital expenditures and general corporate purposes. The Credit Agreement requires us to comply with various restrictive and affirmative covenants, including two financial covenants: a maximum leverage ratio and a minimum consolidated interest coverage ratio (as those terms are defined in the Credit Agreement). We were in compliance with all such covenants as of December 31, 2019 . We had no borrowings outstanding under the Credit Agreement as of December 31, 2019 and June 30, 2019 . Borrowings under the Credit Agreement are guaranteed by our significant domestic subsidiaries. The Credit Agreement matures in June 2023. Fixed rate debt had a fair market value of $630.8 million and $622.0 million at December 31, 2019 and June 30, 2019 , respectively. The Level 2 fair value is determined based on the quoted market prices for similar debt instruments as of December 31, 2019 and June 30, 2019 , respectively.

Environmental Matters

Environmental Matters	6 Months Ended
	Dec. 31, 2019
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. We establish and maintain reserves for certain potential environmental liabilities. At December 31, 2019 and June 30, 2019 , the balances of these reserves were $12.0 million and $12.4 million , respectively. These reserves represent anticipated costs associated with potential remedial requirements and are generally not discounted. The reserves we have established for potential 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 United States Environmental Protection Agency (USEPA), other governmental agencies and by the Potentially Responsible Party (PRP) groups in which we are participating. Although our reserves currently appear to be sufficient to cover these potential 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. Superfund Sites Among other environmental laws, we are subject to the Comprehensive Environmental Response Compensation and Liability Act of 1980 (CERCLA), under which we have been designated by the USEPA as a PRP with respect to environmental remedial costs at certain Superfund sites. We have evaluated our claims and liabilities associated with these Superfund sites based upon best currently available information. We believe our environmental accruals are adequate to cover our portion of the environmental remedial costs at the Superfund sites where we have been designated a PRP, to the extent these expenses are probable and reasonably estimable.

Income Taxes

Income Taxes	6 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Effective tax rates The effective income tax rates for the three months ended December 31, 2019 and 2018 were 87.9 percent (benefit on a loss) and 24.8 percent (provision on income), respectively. The year-over-year change is primarily due to a discrete $14.5 million benefit for the one-time effect of Swiss tax reform, the impairment of Widia goodwill, the change in the jurisdictional mix caused by expected restructuring and related charges and the increase in tax on global intangible low-taxed income (GILTI) and the base erosion anti-abuse tax (BEAT), which are both components of the U.S. Tax Cuts and Jobs Act of 2017. The prior year rate included a $6.1 million charge related to changes in the indefinite reinvestment assertion on certain foreign subsidiaries' undistributed earnings and a $3.9 million benefit recorded to reflect the finalization of the amount of the one-time tax imposed on our unremitted foreign earnings. The effective income tax rates for the six months ended December 31, 2019 and 2018 were 102.9 percent (benefit on a loss) and 24.9 percent (provision on income), respectively. The year-over-year change is primarily due to a discrete $14.5 million benefit for the one-time effect of Swiss tax reform, the impairment of Widia goodwill, the change in the jurisdictional mix caused by expected restructuring and related charges, the increase in GILTI and BEAT. Swiss tax reform Legislation was effectively enacted during the three months ended December 31, 2019 when the Canton of Schaffhausen approved the Federal Act on Tax Reform and AHV Financing on October 8, 2019 (Swiss tax reform). Significant changes from Swiss tax reform include the abolishment of certain favorable tax regimes and the creation of a ten-year transitional period at both the federal and cantonal levels. The transitional provisions of Swiss tax reform allow companies to utilize a combination of lower tax rates and tax basis adjustments to fair value, which are used for tax depreciation and amortization purposes resulting in deductions over the transitional period. To reflect the federal and cantonal transitional provisions, as they apply to us, we recorded a deferred tax asset of $14.5 million during the three months ended December 31, 2019 . We consider the deferred tax asset from Swiss tax reform to be an estimate based on our current interpretation of the legislation, which is subject to change based on further legislative guidance, review with the Swiss federal and cantonal authorities and modifications to the underlying valuation.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Dec. 31, 2019
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, performance awards and restricted stock units. The difference between basic and diluted earnings per share relates solely to the effect of capital stock options, performance awards and restricted stock units. The following tables provide the computation of diluted shares outstanding for the three months ended December 31, 2018 and the six months ended December 31, 2019 and 2018: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2018 2019 2018 Weighted-average shares outstanding during period 82,331 82,979 82,218 Add: Unexercised stock options and unvested restricted stock units 979 639 1,015 Number of shares on which diluted earnings per share is calculated 83,310 83,618 83,233 Unexercised stock options with an exercise price greater than the average market price and restricted stock units not included in the computation because they were anti-dilutive 469 641 400 For the three months ended December 31, 2019

Equity

Equity	6 Months Ended
	Dec. 31, 2019
Equity [Abstract]
EQUITY	EQUITY A summary of the changes in the carrying amounts of total equity, Kennametal Shareholders’ equity and equity attributable to noncontrolling interests for the three months ending December 31, 2019 and 2018 is as follows: Kennametal Shareholders’ Equity (in thousands) Capital Additional Retained Accumulated Non- Total equity Balance as of September 30, 2019 $ 103,542 $ 530,695 $ 1,066,763 $ (402,434 ) $ 39,084 $ 1,337,650 Net loss — — (5,939 ) — (290 ) (6,229 ) Other comprehensive income — — — 24,215 538 24,753 Dividend reinvestment 2 50 — — — 52 Capital stock issued under employee benefit and stock plans (3) 76 5,827 — — — 5,903 Purchase of capital stock (2 ) (50 ) — — — (52 ) Additions to noncontrolling interest — — — — 1,527 1,527 Cash dividends — — (16,577 ) — (16,577 ) Total equity, December 31, 2019 $ 103,618 $ 536,522 $ 1,044,247 $ (378,219 ) $ 40,859 $ 1,347,027 Kennametal Shareholders’ Equity (in thousands) Capital stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Non- controlling interests Total equity Balance as of September 30, 2018 $ 102,615 $ 517,349 $ 940,983 $ (333,333 ) $ 36,495 $ 1,264,109 Net income — — 54,698 — 1,549 56,247 Other comprehensive (loss) income — — — (1,299 ) 500 (799 ) Dividend reinvestment 2 52 — — — 54 Capital stock issued under employee benefit and stock plans (3) 85 5,064 — — — 5,149 Purchase of capital stock (2 ) (52 ) — — — (54 ) Cash dividends — — (16,422 ) — — (16,422 ) Total equity, December 31, 2018 $ 102,700 $ 522,413 $ 979,259 $ (334,632 ) $ 38,544 $ 1,308,284 A summary of the changes in the carrying amounts of total equity, Kennametal Shareholders’ equity and equity attributable to noncontrolling interests for the six months ending December 31, 2019 and 2018 is as follows: Kennametal Shareholders’ Equity (in thousands) Capital Additional Retained Accumulated Non- Total equity Balance as of June 30, 2019 $ 103,026 $ 528,827 $ 1,076,862 $ (373,543 ) $ 39,532 $ 1,374,704 Net income — — 528 — 653 1,181 Other comprehensive loss — — — (4,676 ) (853 ) (5,529 ) Dividend reinvestment 4 102 — — — 106 Capital stock issued under employee benefit and stock plans (3) 592 7,695 — — — 8,287 Purchase of capital stock (4 ) (102 ) — — — (106 ) Additions to noncontrolling interest — — — — 1,527 1,527 Cash dividends — — (33,143 ) — — (33,143 ) Total equity, December 31, 2019 $ 103,618 $ 536,522 $ 1,044,247 $ (378,219 ) $ 40,859 $ 1,347,027 Kennametal Shareholders’ Equity (in thousands) Capital stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Non- controlling interests Total equity Balance as of June 30, 2018 $ 102,058 $ 511,909 $ 900,683 $ (320,325 ) $ 36,002 $ 1,230,327 Net income — — 111,396 — 3,274 114,670 Other comprehensive loss — — — (14,307 ) (732 ) (15,039 ) Dividend reinvestment 3 104 — — — 107 Capital stock issued under employee benefit and stock plans (3) 642 10,504 — — — 11,146 Purchase of capital stock (3 ) (104 ) — — — (107 ) Cash dividends — — (32,820 ) — — (32,820 ) Total equity, December 31, 2018 $ 102,700 $ 522,413 $ 979,259 $ (334,632 ) $ 38,544 $ 1,308,284 (3) Net of restricted stock units delivered upon vesting to satisfy tax withholding requirements. The amounts of comprehensive income attributable to Kennametal Shareholders and noncontrolling interests are disclosed in the condensed consolidated statements of comprehensive income.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	ACCUMULATED OTHER COMPREHENSIVE LOSS The components of, and changes in, accumulated other comprehensive loss (AOCL) were as follows, net of tax, for the six months ended December 31, 2019 : (in thousands) Pension and other postretirement benefits Currency translation adjustment Derivatives Total Attributable to Kennametal: Balance, June 30, 2019 $ (222,270 ) $ (147,595 ) $ (3,678 ) $ (373,543 ) Other comprehensive (loss) income before reclassifications (449 ) (8,821 ) 856 (8,414 ) Amounts reclassified from AOCL 3,950 — (212 ) 3,738 Net current period other comprehensive income (loss) 3,501 (8,821 ) 644 (4,676 ) AOCL, December 31, 2019 $ (218,769 ) $ (156,416 ) $ (3,034 ) $ (378,219 ) Attributable to noncontrolling interests: Balance, June 30, 2019 $ — $ (3,450 ) $ — $ (3,450 ) Other comprehensive loss before reclassifications — (853 ) — (853 ) Net current period other comprehensive loss — (853 ) — (853 ) AOCL, December 31, 2019 $ — $ (4,303 ) $ — $ (4,303 ) The components of, and changes in, AOCL were as follows, net of tax, for the six months ended December 31, 2018 : (in thousands) Pension and other postretirement benefits Currency translation adjustment Derivatives Total Attributable to Kennametal: Balance, June 30, 2018 $ (187,755 ) $ (127,347 ) $ (5,223 ) $ (320,325 ) Other comprehensive income (loss) before reclassifications 1,194 (18,873 ) (91 ) (17,770 ) Amounts reclassified from AOCL 2,606 — 857 3,463 Net current period other comprehensive income (loss) 3,800 (18,873 ) 766 (14,307 ) AOCL, December 31, 2018 $ (183,955 ) $ (146,220 ) $ (4,457 ) $ (334,632 ) Attributable to noncontrolling interests: Balance, June 30, 2018 $ — $ (2,913 ) $ — $ (2,913 ) Other comprehensive loss before reclassifications — (732 ) — (732 ) Net current period other comprehensive loss — (732 ) — (732 ) AOCL, December 31, 2018 $ — $ (3,645 ) $ — $ (3,645 ) Reclassifications out of AOCL for the three and six months ended December 31, 2019 and 2018 consisted of the following: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2019 2018 2019 2018 Affected line item in the Income Statement Gains and losses on cash flow hedges: Forward starting interest rate swaps $ 611 $ 588 $ 1,222 $ 1,176 Interest expense Currency exchange contracts (1,132 ) (241 ) (1,503 ) (41 ) Cost of goods sold and other income, net Total before tax (521 ) 347 (281 ) 1,135 Tax impact 128 (85 ) 69 (278 ) (Benefit) provision for income taxes Net of tax $ (393 ) $ 262 $ (212 ) $ 857 Pension and other postretirement benefits: Amortization of transition obligations $ 22 $ 23 $ 44 $ 45 Other income, net Amortization of prior service credit (56 ) (27 ) (113 ) (55 ) Other income, net Recognition of actuarial losses 2,649 1,741 5,308 3,498 Other income, net Total before tax 2,615 1,737 5,239 3,488 Tax impact (625 ) (439 ) (1,289 ) (882 ) (Benefit) provision for income taxes Net of tax $ 1,990 $ 1,298 $ 3,950 $ 2,606 The amount of income tax allocated to each component of other comprehensive income (loss) for the three months ended December 31, 2019 and 2018 were as follows: 2019 2018 (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 $ 611 $ (150 ) $ 461 $ 225 $ (55 ) $ 170 Reclassification of unrealized (gain) loss on derivatives designated and qualified as cash flow hedges (521 ) 128 (393 ) 347 (85 ) 262 Unrecognized net pension and other postretirement benefit (loss) gain (3,887 ) 831 (3,056 ) 1,134 (263 ) 871 Reclassification of net pension and other postretirement benefit loss 2,615 (625 ) 1,990 1,737 (439 ) 1,298 Foreign currency translation adjustments 25,871 (120 ) 25,751 (3,407 ) 7 (3,400 ) Other comprehensive income (loss) $ 24,689 $ 64 $ 24,753 $ 36 $ (835 ) $ (799 ) The amount of income tax allocated to each component of other comprehensive loss for the six months ended December 31, 2019 and 2018 were as follows: 2019 2018 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Unrealized gain (loss) on derivatives designated and qualified as cash flow hedges $ 1,134 $ (278 ) $ 856 $ (121 ) $ 30 $ (91 ) Reclassification of unrealized (gain) loss on derivatives designated and qualified as cash flow hedges (281 ) 69 (212 ) 1,135 (278 ) 857 Unrecognized net pension and other postretirement benefit (loss) gain (418 ) (31 ) (449 ) 1,551 (357 ) 1,194 Reclassification of net pension and other postretirement benefit loss 5,239 (1,289 ) 3,950 3,488 (882 ) 2,606 Foreign currency translation adjustments (9,707 ) 33 (9,674 ) (19,679 ) 74 (19,605 ) Other comprehensive loss $ (4,033 ) $ (1,496 ) $ (5,529 ) $ (13,626 ) $ (1,413 ) $ (15,039 )

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS Widia Impairment Charge In the December quarter of fiscal 2020, the Company experienced deteriorating market conditions, primarily in general engineering and transportation applications in India and China, in addition to overall global weakness in the manufacturing sector. In view of these declining conditions and the significant detrimental effect on cash flows and actual and projected revenue and earnings compared with our most recent annual impairment test, we determined that an impairment triggering event had occurred and performed an interim quantitative impairment test of our goodwill, indefinite-lived trademark intangible asset and other long-lived assets of our Widia reporting unit. We evaluated the recoverability of goodwill for the reporting unit by comparing the fair value with its carrying value, with the fair values determined using a combination of a discounted cash flow analysis and market multiples based upon historical and projected financial information. As a result of this test, we recorded a non-cash pre-tax impairment charge during the three months ended December 31, 2019 of $14.6 million in the Widia segment, of which $13.1 million was for goodwill and $1.5 million was 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. No impairment was recorded for the other Widia long-lived assets. Divestiture Impact on Other Intangible Assets During the three months ended December 31, 2019, we completed the sale of certain assets of the non-core specialty alloys and metals business within the Infrastructure segment, see Note 4. As a result of this transaction, other intangibles decreased by $12.5 million in our Infrastructure segment. This decrease was recorded in the loss on divestiture account in our condensed consolidated statements of income. A summary of the carrying amount of goodwill attributable to each segment, as well as the changes in such carrying amounts, is as follows: (in thousands) Industrial Widia Infrastructure Total Gross goodwill $ 409,912 $ 40,941 $ 633,211 $ 1,084,064 Accumulated impairment losses (137,204 ) (13,638 ) (633,211 ) (784,053 ) Balance as of June 30, 2019 $ 272,708 $ 27,303 $ — $ 300,011 Activity for the six months ended December 31, 2019: Change in gross goodwill due to translation (849 ) (202 ) — (1,051 ) Impairment charges — (13,134 ) — (13,134 ) Gross goodwill 409,063 40,739 633,211 1,083,013 Accumulated impairment losses (137,204 ) (26,772 ) (633,211 ) (797,187 ) Balance as of December 31, 2019 $ 271,859 $ 13,967 $ — $ 285,826 The components of our other intangible assets were as follows: Estimated Useful Life (in years) December 31, 2019 June 30, 2019 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Contract-based 3 to 15 — — 7,062 (7,062 ) Technology-based and other 4 to 20 32,684 (22,139 ) 46,228 (31,890 ) Customer-related 10 to 21 181,962 (83,923 ) 205,213 (94,711 ) Unpatented technology 10 to 30 31,649 (16,696 ) 31,702 (15,492 ) Trademarks 5 to 20 13,074 (8,206 ) 14,755 (9,352 ) Trademarks Indefinite 12,993 — 14,545 — Total $ 272,362 $ (130,964 ) $ 319,505 $ (158,507 )

Segment Data

Segment Data	6 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
SEGMENT DATA	SEGMENT DATA Our reportable operating segments have been determined in accordance with the our 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, our Board of Directors and strategic initiatives, as well as certain other costs and report them in Corporate. None of our reportable operating segments represent the aggregation of two or more operating segments. INDUSTRIAL The Industrial segment develops and manufactures high performance tooling and metalworking products and services for diverse end markets, including aerospace and defense, general engineering, energy and transportation. These products include milling, hole making, turning, threading and toolmaking systems used in the manufacture of airframes, aero engines, trucks and automobiles, ships and various types of industrial equipment. We leverage advanced manufacturing capabilities in combination with varying levels of customization to solve our customers’ toughest challenges and deliver improved productivity for a wide range of applications . Industrial goes to market under the Kennametal ® brand through its direct sales force, a network of independent and national distributors, integrated supplier channels and via the Internet. Application engineers and technicians are critical to the sales process and directly assist our customers with specified product design, selection, application and support. WIDIA Widia offers an assortment of standard and custom metal cutting solutions to general engineering, aerospace, energy and transportation customers. We serve our customers primarily through a network of value-added resellers, integrated supplier channels and via the internet. Widia markets its products under the WIDIA ® , WIDIA Hanita ® and WIDIA GTD ® brands. INFRASTRUCTURE Our Infrastructure segment produces engineered tungsten carbide and ceramic components, earth-cutting tools, and advanced metallurgical powders, primarily for the energy, earthworks and general engineering end markets. These wear-resistant products include compacts, nozzles, frac seats and custom components used in oil and gas and petrochemical industries; rod blanks and abrasive water jet nozzles for general industries; earth cutting tools and systems used in underground mining, trenching and foundation drilling and road milling; tungsten carbide powders for the oil and gas, aerospace and process industries; and ceramics used by the packaging industry for metallization of films and papers. We combine deep metallurgical and engineering expertise with advanced manufacturing capabilities to deliver solutions that drive improved productivity for our customers. Infrastructure markets its products primarily under the Kennametal ® brand and sells through a direct sales force as well as through distributors. Our sales and operating (loss) income by segment are as follows: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2019 2018 2019 2018 Sales: Industrial $ 279,242 $ 317,320 $ 559,270 $ 637,878 Widia 44,337 48,954 88,394 97,626 Infrastructure 181,501 221,120 375,504 438,576 Total sales $ 505,080 $ 587,394 $ 1,023,168 $ 1,174,080 Operating (loss) income: Industrial $ (19,259 ) $ 57,519 $ 2,012 $ 116,061 Widia (15,918 ) 1,728 (17,882 ) 3,822 Infrastructure (11,570 ) 20,614 (14,260 ) 44,474 Corporate (891 ) (1,003 ) (1,131 ) (2,347 ) Total operating (loss) income (47,638 ) 78,858 (31,261 ) 162,010 Interest expense 8,055 8,104 15,936 16,201 Other income, net (4,211 ) (4,022 ) (6,891 ) (6,782 ) (Loss) income from continuing operations before income taxes $ (51,482 ) $ 74,776 $ (40,306 ) $ 152,591 The following table presents Kennametal's revenue disaggregated by geography: Three Months Ended December 31, 2019 December 31, 2018 (in thousands) Industrial Widia Infrastructure Total Kennametal Industrial Widia Infrastructure Total Kennametal Americas 41% 47% 61% 48% 40% 45% 66% 50% EMEA 38 26 17 30 41 26 15 30 Asia Pacific 21 27 22 22 19 29 19 20 Six Months Ended December 31, 2019 December 31, 2018 (in thousands) Industrial Widia Infrastructure Total Kennametal Industrial Widia Infrastructure Total Kennametal Americas 41% 48% 62% 49% 40% 45% 66% 50% EMEA 38 26 18 30 40 25 15 29 Asia Pacific 21 26 20 21 20 30 19 21 The following tables presents Kennametal's revenue disaggregated by end market: Three Months Ended December 31, 2019 (in thousands) Industrial Widia Infrastructure Total Kennametal General engineering 45% 100% 34% 46% Transportation 32 — — 18 Aerospace 14 — — 8 Energy 9 — 29 15 Earthworks — — 37 13 Three Months Ended December 31, 2018 (in thousands) Industrial Widia Infrastructure Total Kennametal General engineering 44% 100% 32% 44% Transportation 34 — — 18 Aerospace 13 — — 7 Energy 9 — 36 19 Earthworks — — 32 12 Six Months Ended December 31, 2019 (in thousands) Industrial Widia Infrastructure Total Kennametal General engineering 44% 100% 34% 45% Transportation 33 — — 18 Aerospace 14 — — 8 Energy 9 — 29 15 Earthworks — — 37 14 Six Months Ended December 31, 2018 (in thousands) Industrial Widia Infrastructure Total Kennametal General engineering 44% 100% 32% 44% Transportation 34 — — 19 Aerospace 13 — — 7 Energy 9 — 35 18 Earthworks — — 33 12

Supplemental Cash Flow Disclo_2

Supplemental Cash Flow Disclosures (Tables)	6 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Disclosures	Six Months Ended December 31, (in thousands) 2019 2018 Cash paid during the period for: Income taxes $ 24,400 $ 28,414 Interest 13,953 16,745 Supplemental disclosure of non-cash information: Changes in accounts payable related to purchases of property, plant and equipment (2,700 ) (100 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Financial instruments at fair value on recurring basis	As of December 31, 2019 , the fair values of our financial assets and financial liabilities are categorized as follows: (in thousands) Level 1 Level 2 Level 3 Total Assets: Derivatives (1) $ — $ 211 $ — $ 211 Total assets at fair value $ — $ 211 $ — $ 211 Liabilities: Derivatives (1) $ — $ 200 $ — $ 200 Total liabilities at fair value $ — $ 200 $ — $ 200 As of June 30, 2019 , the fair values of our financial assets and financial liabilities are categorized as follows: (in thousands) Level 1 Level 2 Level 3 Total Assets: Derivatives (1) $ — $ 152 $ — $ 152 Total assets at fair value $ — $ 152 $ — $ 152 Liabilities: Derivatives (1) $ — $ 55 $ — $ 55 Total liabilities at fair value $ — $ 55 $ — $ 55 (1) Currency derivatives are valued based on observable market spot and forward rates and are classified within Level 2 of the fair value hierarchy.

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Dec. 31, 2019
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) December 31, June 30, Derivatives designated as hedging instruments Other current assets - range forward contracts $ 211 $ 145 Total derivatives designated as hedging instruments 211 145 Derivatives not designated as hedging instruments Other current assets - currency forward contracts — 8 Other current liabilities - currency forward contracts (200 ) (56 ) Total derivatives not designated as hedging instruments (200 ) (48 ) Total derivatives $ 11 $ 97
(Gains) losses related to derivatives not designated as hedging instruments	Gains) losses related to derivatives not designated as hedging instruments have been recognized as follows: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2019 2018 2019 2018 Other income, net - currency forward contracts $ (1 ) $ (2 ) $ 112 $ 76
Gains and losses related to cash flow hedges	The following represents gains and losses related to cash flow hedges: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2019 2018 2019 2018 Gains (losses) recognized in other comprehensive income (loss), net $ 461 $ 170 $ 856 $ (91 ) Losses reclassified from accumulated other comprehensive loss into cost of goods sold and other income, net $ 391 $ 565 $ 550 $ 1,097
Net investment hedges	As of December 31, 2019 , the foreign currency-denominated intercompany loans payable designated as net investment hedges consisted of: Instrument Notional (EUR in thousands) (2) Notional (USD in thousands) (2) Maturity Foreign currency-denominated intercompany loan payable € 28,527 $ 32,060 June 26, 2022 Foreign currency-denominated intercompany loan payable 20,028 22,508 November 22, 2021 (2) Includes principal and accrued interest.

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost	As of December 31, 2019 , $43.5 million and $13.0 million of the restructuring accrual is recorded in other current liabilities and other liabilities, respectively, in our condensed consolidated balance sheet. The restructuring accrual of $19.2 million as of June 30, 2019 is recorded in other current liabilities. The amount attributable to each segment is as follows: (in thousands) June 30, 2019 Expense Asset Write-Down Translation Cash Expenditures December 31, 2019 Industrial Severance $ 8,863 $ 47,429 $ — $ 325 $ (10,337 ) $ 46,280 Facilities — 2,298 (2,298 ) — — — Other 35 4 — — (14 ) 25 Total Industrial $ 8,898 $ 49,731 $ (2,298 ) $ 325 $ (10,351 ) $ 46,305 Widia Severance $ 2,306 $ 329 $ — $ (21 ) $ (221 ) $ 2,393 Facilities — 24 (24 ) — — — Other 24 — — — — 24 Total Widia $ 2,330 $ 353 $ (24 ) $ (21 ) $ (221 ) $ 2,417 Infrastructure Severance $ 7,956 $ 1,870 $ — $ (213 ) $ (1,863 ) $ 7,750 Facilities — 758 (758 ) — — — Other 28 2 — (1 ) (4 ) 25 Total Infrastructure $ 7,984 $ 2,630 $ (758 ) $ (214 ) $ (1,867 ) $ 7,775 Total $ 19,212 $ 52,714 $ (3,080 ) $ 90 $ (12,439 ) $ 56,497

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Changes in stock options	Changes in our stock options for the six months ended December 31, 2019 were as follows: Options Weighted Average Exercise Price Weighted Average Remaining Life (years) Aggregate Intrinsic value (in thousands) Options outstanding, June 30, 2019 781,673 $ 33.92 Exercised (34,525 ) 26.62 Lapsed or forfeited (42,544 ) 43.30 Options outstanding, December 31, 2019 704,604 $ 33.71 3.3 $ 3,757 Options vested, December 31, 2019 704,604 $ 33.71 3.3 $ 3,757 Options exercisable, December 31, 2019 704,604 $ 33.71 3.3 $ 3,757
Changes in time vesting and performance vesting restricted stock units	Changes in our performance vesting and time vesting restricted stock units for the six months ended December 31, 2019 were as follows: Performance Vesting Stock Units Performance Vesting Weighted Average Fair Value Time Vesting Stock Units Time Vesting Weighted Average Fair Value Unvested, June 30, 2019 405,230 $ 35.58 926,927 $ 36.43 Granted 275,216 28.74 619,154 27.95 Vested (146,377 ) 27.09 (435,815 ) 33.79 Performance metric adjustments, net 32,707 32.79 — — Forfeited (1,440 ) 39.26 (8,479 ) 35.20 Unvested, December 31, 2019 565,336 $ 34.28 1,101,787 $ 32.72

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	6 Months Ended
	Dec. 31, 2019
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 December 31, Six Months Ended December 31, (in thousands) 2019 2018 2019 2018 Service cost $ 445 $ 407 $ 895 $ 818 Interest cost 6,832 7,970 13,656 15,960 Expected return on plan assets (13,496 ) (13,434 ) (26,952 ) (26,896 ) Amortization of transition obligation 22 23 44 45 Amortization of prior service cost (credit) 13 (5 ) 25 (10 ) Recognition of actuarial losses 2,585 1,679 5,180 3,374 Settlement gain — — (122 ) — Net periodic pension income $ (3,599 ) $ (3,360 ) $ (7,274 ) $ (6,709 )
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic pension (income)	The table below summarizes the components of net periodic other postretirement benefit cost: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2019 2018 2019 2018 Interest cost $ 101 $ 153 $ 202 $ 307 Amortization of prior service credit (69 ) (22 ) (138 ) (45 ) Recognition of actuarial loss 64 62 128 124 Net periodic other postretirement benefit cost $ 96 $ 193 $ 192 $ 386

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Dec. 31, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: (in thousands) December 31, 2019 June 30, 2019 Finished goods $ 312,524 $ 311,684 Work in process and powder blends 194,933 246,414 Raw materials 78,892 95,620 Inventories at current cost 586,349 653,718 Less: LIFO valuation (63,850 ) (82,142 ) Total inventories $ 522,499 $ 571,576

Leases Leases (Tables)

Leases Leases (Tables)	6 Months Ended
	Dec. 31, 2019
Future Operating Lease Payments [Abstract]
Operating leases, supplemental cash flow information [Table Text Block]	The following table sets forth supplemental cash flow information related to our operating leases: (in thousands) Six Months Ended December 31, 2019 Operating cash flows from operating leases $ 7,978 ROU assets obtained in exchange for new operating lease liabilities $ 5,572
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The following table sets forth the future minimum lease payments for non-cancelable operating leases as of the year ended June 30, 2019 : Year Ended June 30, (in thousands) June 30, 2019 2020 $ 17,074 2021 12,212 2022 6,693 2023 4,294 2024 2,636 Thereafter 17,168 Total future minimum lease payments $ 60,077
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	The following table sets forth the maturities of our operating lease liabilities and reconciles the respective undiscounted payments to the operating lease liabilities in the condensed consolidated balance sheet as of December 31, 2019 : Year Ended June 30, December 31, 2019 Remaining six months of 2020 $ 8,206 2021 13,093 2022 8,532 2023 5,602 2024 3,884 Thereafter 19,304 Total undiscounted operating lease payments $ 58,621 Less: discount to net present value 8,213 Total operating lease liabilities $ 50,408

Earnings Per Share (Tables) (Ta

Earnings Per Share (Tables) (Tables)	6 Months Ended
	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	The following tables provide the computation of diluted shares outstanding for the three months ended December 31, 2018 and the six months ended December 31, 2019 and 2018: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2018 2019 2018 Weighted-average shares outstanding during period 82,331 82,979 82,218 Add: Unexercised stock options and unvested restricted stock units 979 639 1,015 Number of shares on which diluted earnings per share is calculated 83,310 83,618 83,233 Unexercised stock options with an exercise price greater than the average market price and restricted stock units not included in the computation because they were anti-dilutive 469 641 400

Equity (Tables)

Equity (Tables)	6 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Summary of the changes in the carrying amounts of total equity, Kennametal shareholders' equity and equity attributable to noncontrolling interests	A summary of the changes in the carrying amounts of total equity, Kennametal Shareholders’ equity and equity attributable to noncontrolling interests for the three months ending December 31, 2019 and 2018 is as follows: Kennametal Shareholders’ Equity (in thousands) Capital Additional Retained Accumulated Non- Total equity Balance as of September 30, 2019 $ 103,542 $ 530,695 $ 1,066,763 $ (402,434 ) $ 39,084 $ 1,337,650 Net loss — — (5,939 ) — (290 ) (6,229 ) Other comprehensive income — — — 24,215 538 24,753 Dividend reinvestment 2 50 — — — 52 Capital stock issued under employee benefit and stock plans (3) 76 5,827 — — — 5,903 Purchase of capital stock (2 ) (50 ) — — — (52 ) Additions to noncontrolling interest — — — — 1,527 1,527 Cash dividends — — (16,577 ) — (16,577 ) Total equity, December 31, 2019 $ 103,618 $ 536,522 $ 1,044,247 $ (378,219 ) $ 40,859 $ 1,347,027 Kennametal Shareholders’ Equity (in thousands) Capital stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Non- controlling interests Total equity Balance as of September 30, 2018 $ 102,615 $ 517,349 $ 940,983 $ (333,333 ) $ 36,495 $ 1,264,109 Net income — — 54,698 — 1,549 56,247 Other comprehensive (loss) income — — — (1,299 ) 500 (799 ) Dividend reinvestment 2 52 — — — 54 Capital stock issued under employee benefit and stock plans (3) 85 5,064 — — — 5,149 Purchase of capital stock (2 ) (52 ) — — — (54 ) Cash dividends — — (16,422 ) — — (16,422 ) Total equity, December 31, 2018 $ 102,700 $ 522,413 $ 979,259 $ (334,632 ) $ 38,544 $ 1,308,284 A summary of the changes in the carrying amounts of total equity, Kennametal Shareholders’ equity and equity attributable to noncontrolling interests for the six months ending December 31, 2019 and 2018 is as follows: Kennametal Shareholders’ Equity (in thousands) Capital Additional Retained Accumulated Non- Total equity Balance as of June 30, 2019 $ 103,026 $ 528,827 $ 1,076,862 $ (373,543 ) $ 39,532 $ 1,374,704 Net income — — 528 — 653 1,181 Other comprehensive loss — — — (4,676 ) (853 ) (5,529 ) Dividend reinvestment 4 102 — — — 106 Capital stock issued under employee benefit and stock plans (3) 592 7,695 — — — 8,287 Purchase of capital stock (4 ) (102 ) — — — (106 ) Additions to noncontrolling interest — — — — 1,527 1,527 Cash dividends — — (33,143 ) — — (33,143 ) Total equity, December 31, 2019 $ 103,618 $ 536,522 $ 1,044,247 $ (378,219 ) $ 40,859 $ 1,347,027 Kennametal Shareholders’ Equity (in thousands) Capital stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Non- controlling interests Total equity Balance as of June 30, 2018 $ 102,058 $ 511,909 $ 900,683 $ (320,325 ) $ 36,002 $ 1,230,327 Net income — — 111,396 — 3,274 114,670 Other comprehensive loss — — — (14,307 ) (732 ) (15,039 ) Dividend reinvestment 3 104 — — — 107 Capital stock issued under employee benefit and stock plans (3) 642 10,504 — — — 11,146 Purchase of capital stock (3 ) (104 ) — — — (107 ) Cash dividends — — (32,820 ) — — (32,820 ) Total equity, December 31, 2018 $ 102,700 $ 522,413 $ 979,259 $ (334,632 ) $ 38,544 $ 1,308,284 (3) Net of restricted stock units delivered upon vesting to satisfy tax withholding requirements.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Components of, and changes in accumulated other comprehensive loss	The components of, and changes in, accumulated other comprehensive loss (AOCL) were as follows, net of tax, for the six months ended December 31, 2019 : (in thousands) Pension and other postretirement benefits Currency translation adjustment Derivatives Total Attributable to Kennametal: Balance, June 30, 2019 $ (222,270 ) $ (147,595 ) $ (3,678 ) $ (373,543 ) Other comprehensive (loss) income before reclassifications (449 ) (8,821 ) 856 (8,414 ) Amounts reclassified from AOCL 3,950 — (212 ) 3,738 Net current period other comprehensive income (loss) 3,501 (8,821 ) 644 (4,676 ) AOCL, December 31, 2019 $ (218,769 ) $ (156,416 ) $ (3,034 ) $ (378,219 ) Attributable to noncontrolling interests: Balance, June 30, 2019 $ — $ (3,450 ) $ — $ (3,450 ) Other comprehensive loss before reclassifications — (853 ) — (853 ) Net current period other comprehensive loss — (853 ) — (853 ) AOCL, December 31, 2019 $ — $ (4,303 ) $ — $ (4,303 ) The components of, and changes in, AOCL were as follows, net of tax, for the six months ended December 31, 2018 : (in thousands) Pension and other postretirement benefits Currency translation adjustment Derivatives Total Attributable to Kennametal: Balance, June 30, 2018 $ (187,755 ) $ (127,347 ) $ (5,223 ) $ (320,325 ) Other comprehensive income (loss) before reclassifications 1,194 (18,873 ) (91 ) (17,770 ) Amounts reclassified from AOCL 2,606 — 857 3,463 Net current period other comprehensive income (loss) 3,800 (18,873 ) 766 (14,307 ) AOCL, December 31, 2018 $ (183,955 ) $ (146,220 ) $ (4,457 ) $ (334,632 ) Attributable to noncontrolling interests: Balance, June 30, 2018 $ — $ (2,913 ) $ — $ (2,913 ) Other comprehensive loss before reclassifications — (732 ) — (732 ) Net current period other comprehensive loss — (732 ) — (732 ) AOCL, December 31, 2018 $ — $ (3,645 ) $ — $ (3,645 )
Reclassification out of Accumulated Other Comprehensive Loss	Reclassifications out of AOCL for the three and six months ended December 31, 2019 and 2018 consisted of the following: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2019 2018 2019 2018 Affected line item in the Income Statement Gains and losses on cash flow hedges: Forward starting interest rate swaps $ 611 $ 588 $ 1,222 $ 1,176 Interest expense Currency exchange contracts (1,132 ) (241 ) (1,503 ) (41 ) Cost of goods sold and other income, net Total before tax (521 ) 347 (281 ) 1,135 Tax impact 128 (85 ) 69 (278 ) (Benefit) provision for income taxes Net of tax $ (393 ) $ 262 $ (212 ) $ 857 Pension and other postretirement benefits: Amortization of transition obligations $ 22 $ 23 $ 44 $ 45 Other income, net Amortization of prior service credit (56 ) (27 ) (113 ) (55 ) Other income, net Recognition of actuarial losses 2,649 1,741 5,308 3,498 Other income, net Total before tax 2,615 1,737 5,239 3,488 Tax impact (625 ) (439 ) (1,289 ) (882 ) (Benefit) provision for income taxes Net of tax $ 1,990 $ 1,298 $ 3,950 $ 2,606
Income Tax Allocated to Each Component of Other Comprehensive Income [Table Text Block]	The amount of income tax allocated to each component of other comprehensive income (loss) for the three months ended December 31, 2019 and 2018 were as follows: 2019 2018 (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 $ 611 $ (150 ) $ 461 $ 225 $ (55 ) $ 170 Reclassification of unrealized (gain) loss on derivatives designated and qualified as cash flow hedges (521 ) 128 (393 ) 347 (85 ) 262 Unrecognized net pension and other postretirement benefit (loss) gain (3,887 ) 831 (3,056 ) 1,134 (263 ) 871 Reclassification of net pension and other postretirement benefit loss 2,615 (625 ) 1,990 1,737 (439 ) 1,298 Foreign currency translation adjustments 25,871 (120 ) 25,751 (3,407 ) 7 (3,400 ) Other comprehensive income (loss) $ 24,689 $ 64 $ 24,753 $ 36 $ (835 ) $ (799 ) The amount of income tax allocated to each component of other comprehensive loss for the six months ended December 31, 2019 and 2018 were as follows: 2019 2018 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Unrealized gain (loss) on derivatives designated and qualified as cash flow hedges $ 1,134 $ (278 ) $ 856 $ (121 ) $ 30 $ (91 ) Reclassification of unrealized (gain) loss on derivatives designated and qualified as cash flow hedges (281 ) 69 (212 ) 1,135 (278 ) 857 Unrecognized net pension and other postretirement benefit (loss) gain (418 ) (31 ) (449 ) 1,551 (357 ) 1,194 Reclassification of net pension and other postretirement benefit loss 5,239 (1,289 ) 3,950 3,488 (882 ) 2,606 Foreign currency translation adjustments (9,707 ) 33 (9,674 ) (19,679 ) 74 (19,605 ) Other comprehensive loss $ (4,033 ) $ (1,496 ) $ (5,529 ) $ (13,626 ) $ (1,413 ) $ (15,039 )

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
The carrying amount of goodwill	A summary of the carrying amount of goodwill attributable to each segment, as well as the changes in such carrying amounts, is as follows: (in thousands) Industrial Widia Infrastructure Total Gross goodwill $ 409,912 $ 40,941 $ 633,211 $ 1,084,064 Accumulated impairment losses (137,204 ) (13,638 ) (633,211 ) (784,053 ) Balance as of June 30, 2019 $ 272,708 $ 27,303 $ — $ 300,011 Activity for the six months ended December 31, 2019: Change in gross goodwill due to translation (849 ) (202 ) — (1,051 ) Impairment charges — (13,134 ) — (13,134 ) Gross goodwill 409,063 40,739 633,211 1,083,013 Accumulated impairment losses (137,204 ) (26,772 ) (633,211 ) (797,187 ) Balance as of December 31, 2019 $ 271,859 $ 13,967 $ — $ 285,826
The components of intangible assets	The components of our other intangible assets were as follows: Estimated Useful Life (in years) December 31, 2019 June 30, 2019 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Contract-based 3 to 15 — — 7,062 (7,062 ) Technology-based and other 4 to 20 32,684 (22,139 ) 46,228 (31,890 ) Customer-related 10 to 21 181,962 (83,923 ) 205,213 (94,711 ) Unpatented technology 10 to 30 31,649 (16,696 ) 31,702 (15,492 ) Trademarks 5 to 20 13,074 (8,206 ) 14,755 (9,352 ) Trademarks Indefinite 12,993 — 14,545 — Total $ 272,362 $ (130,964 ) $ 319,505 $ (158,507 )

Segment Data (Tables)

Segment Data (Tables)	6 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents Kennametal's revenue disaggregated by geography: Three Months Ended December 31, 2019 December 31, 2018 (in thousands) Industrial Widia Infrastructure Total Kennametal Industrial Widia Infrastructure Total Kennametal Americas 41% 47% 61% 48% 40% 45% 66% 50% EMEA 38 26 17 30 41 26 15 30 Asia Pacific 21 27 22 22 19 29 19 20 Six Months Ended December 31, 2019 December 31, 2018 (in thousands) Industrial Widia Infrastructure Total Kennametal Industrial Widia Infrastructure Total Kennametal Americas 41% 48% 62% 49% 40% 45% 66% 50% EMEA 38 26 18 30 40 25 15 29 Asia Pacific 21 26 20 21 20 30 19 21 The following tables presents Kennametal's revenue disaggregated by end market: Three Months Ended December 31, 2019 (in thousands) Industrial Widia Infrastructure Total Kennametal General engineering 45% 100% 34% 46% Transportation 32 — — 18 Aerospace 14 — — 8 Energy 9 — 29 15 Earthworks — — 37 13 Three Months Ended December 31, 2018 (in thousands) Industrial Widia Infrastructure Total Kennametal General engineering 44% 100% 32% 44% Transportation 34 — — 18 Aerospace 13 — — 7 Energy 9 — 36 19 Earthworks — — 32 12 Six Months Ended December 31, 2019 (in thousands) Industrial Widia Infrastructure Total Kennametal General engineering 44% 100% 34% 45% Transportation 33 — — 18 Aerospace 14 — — 8 Energy 9 — 29 15 Earthworks — — 37 14 Six Months Ended December 31, 2018 (in thousands) Industrial Widia Infrastructure Total Kennametal General engineering 44% 100% 32% 44% Transportation 34 — — 19 Aerospace 13 — — 7 Energy 9 — 35 18 Earthworks — — 33 12
Sales and operating income (loss) by segment and segment assets	Our sales and operating (loss) income by segment are as follows: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2019 2018 2019 2018 Sales: Industrial $ 279,242 $ 317,320 $ 559,270 $ 637,878 Widia 44,337 48,954 88,394 97,626 Infrastructure 181,501 221,120 375,504 438,576 Total sales $ 505,080 $ 587,394 $ 1,023,168 $ 1,174,080 Operating (loss) income: Industrial $ (19,259 ) $ 57,519 $ 2,012 $ 116,061 Widia (15,918 ) 1,728 (17,882 ) 3,822 Infrastructure (11,570 ) 20,614 (14,260 ) 44,474 Corporate (891 ) (1,003 ) (1,131 ) (2,347 ) Total operating (loss) income (47,638 ) 78,858 (31,261 ) 162,010 Interest expense 8,055 8,104 15,936 16,201 Other income, net (4,211 ) (4,022 ) (6,891 ) (6,782 ) (Loss) income from continuing operations before income taxes $ (51,482 ) $ 74,776 $ (40,306 ) $ 152,591

New Accounting Standards New Ac

New Accounting Standards New Accounting Standards - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jul. 01, 2019	Jun. 30, 2019
New Accounting Standards [Abstract]
Operating Lease, Liability	$ 50,408	$ 49,000
Operating lease right-of-use assets (Note 11)	$ 50,153	$ 49,000	$ 0

Supplemental Cash Flow Disclo_3

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Interest	$ 13,953	$ 16,745
Income taxes	24,400	28,414
Change in accounts payable related to property, plant, and equipment	$ (2,700)	$ (100)

Divestiture (Details)

Divestiture (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Divestiture [Abstract]
Proceeds from divestiture (Note 4)			$ 23,950	$ 0
Disposition of Businesses, Net Book Value of Assets at Closing			29,500
Loss on divestiture (Note 4)	$ (6,517)	$ 0	$ (6,517)	$ 0

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets	$ 211	$ 152
Total assets at fair value	211	152
Derivatives Liabilities	200	55
Total liabilities at fair value	200	55
Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets	211	152
Total assets at fair value	211	152
Derivatives Liabilities	200	55
Total liabilities at fair value	$ 200	$ 55

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Fair Value of Derivatives Designated and Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2019	Jun. 30, 2019
Derivatives, Fair Value [Line Items]
Document Period End Date	Dec. 31, 2019
Fair value of derivatives
Derivative, Fair Value, Net	$ 11	$ 97
Designated as Hedging Instrument [Member]
Fair value of derivatives
Derivative, Fair Value, Net	211	145
Not Designated as Hedging Instrument [Member]
Fair value of derivatives
Derivative, Fair Value, Net	(200)	(48)
Range Forward Contracts [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Fair value of derivatives
Derivative assets designated as hedging instruments	211	145
Currency Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Fair value of derivatives
Derivative assets designated as hedging instruments	0	8
Currency Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other Current Liabilities [Member]
Fair value of derivatives
Derivative liabilities designated as hedging instruments	$ (200)	$ (56)

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Gains and Losses Related to Derivatives Not Designated as Hedging Instruments and to Cash Flow Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Gains and losses related to cash flow hedges
Gains (losses) recognized in other comprehensive income (loss), net	$ 611	$ 225	$ 1,134	$ (121)
Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax	(1,200)	500	(100)	500
Currency Forward Contracts [Member] | Other Nonoperating Income (Expense) [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, (Gain) Loss Recognized in Income, Net
Other income, net - currency forward contracts	(1)	(2)	112	76
Range Forward Contracts [Member] | Cash flow hedging [Member]
Gains and losses related to cash flow hedges
Gains (losses) recognized in other comprehensive income (loss), net	461	170	856	(91)
Losses reclassified from accumulated other comprehensive loss into cost of goods sold and other income, net	$ 391	$ 565	$ 550	$ 1,097

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities (Details Textual) € in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2019EUR (€)	Dec. 31, 2019USD ($)	Jun. 30, 2019USD ($)
Derivatives, Fair Value [Line Items]
Document Period End Date			Dec. 31, 2019
Derivative Instruments and Hedging Activities (Textual) [Abstract]
Recognize income on outstanding derivatives in the next 12 months						$ 100
Gains or losses recognized in earnings due to ineffectiveness and excluded from effectiveness testing			$ 0
Net Investment Hedge Maturing on June 26, 2022 [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount					€ 28,527	32,060
Cash Flow Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount						29,200	$ 61,500
Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative, Amount of Hedged Item | €					42,500
Net Investment Hedge Maturing on November 22, 2021 [Member] [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount					€ 20,028	$ 22,508
Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax	$ (1,200)	$ 500	$ (100)	$ 500

Restructuring and Related Cha_2

Restructuring and Related Charges - Restructuring Accrual (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Document Period End Date			Dec. 31, 2019
Restructuring Reserve [Abstract]
Beginning Balance			$ 19,212
Restructuring Charges	$ 48,000	$ 1,500	52,714	$ 2,600
Asset Write-Down			(3,080)
Translation			90
Cash Expenditures			(12,439)
Ending Balance	56,497		56,497
Industrial [Member]
Restructuring Reserve [Abstract]
Beginning Balance			8,898
Restructuring Charges			49,731
Asset Write-Down			(2,298)
Translation			325
Cash Expenditures			(10,351)
Ending Balance	46,305		46,305
Industrial [Member] | Severance [Member]
Restructuring Reserve [Abstract]
Beginning Balance			8,863
Restructuring Charges			47,429
Asset Write-Down			0
Translation			325
Cash Expenditures			(10,337)
Ending Balance	46,280		46,280
Industrial [Member] | Facilities [Member]
Restructuring Reserve [Abstract]
Beginning Balance			0
Restructuring Charges			2,298
Asset Write-Down			(2,298)
Translation			0
Cash Expenditures			0
Ending Balance	0		0
Industrial [Member] | Other Restructuring [Member]
Restructuring Reserve [Abstract]
Beginning Balance			35
Restructuring Charges			4
Asset Write-Down			0
Translation			0
Cash Expenditures			(14)
Ending Balance	25		25
WIDIA [Member]
Restructuring Reserve [Abstract]
Beginning Balance			2,330
Restructuring Charges			353
Asset Write-Down			(24)
Translation			(21)
Cash Expenditures			(221)
Ending Balance	2,417		2,417
WIDIA [Member] | Severance [Member]
Restructuring Reserve [Abstract]
Beginning Balance			2,306
Restructuring Charges			329
Asset Write-Down			0
Translation			(21)
Cash Expenditures			(221)
Ending Balance	2,393		2,393
WIDIA [Member] | Facilities [Member]
Restructuring Reserve [Abstract]
Beginning Balance			0
Restructuring Charges			24
Asset Write-Down			(24)
Translation			0
Cash Expenditures			0
Ending Balance	0		0
WIDIA [Member] | Other Restructuring [Member]
Restructuring Reserve [Abstract]
Beginning Balance			24
Restructuring Charges			0
Asset Write-Down			0
Translation			0
Cash Expenditures			0
Ending Balance	24		24
Infrastructure [Member]
Restructuring Reserve [Abstract]
Beginning Balance			7,984
Restructuring Charges			2,630
Asset Write-Down			(758)
Translation			(214)
Cash Expenditures			(1,867)
Ending Balance	7,775		7,775
Infrastructure [Member] | Severance [Member]
Restructuring Reserve [Abstract]
Beginning Balance			7,956
Restructuring Charges			1,870
Asset Write-Down			0
Translation			(213)
Cash Expenditures			(1,863)
Ending Balance	7,750		7,750
Infrastructure [Member] | Facilities [Member]
Restructuring Reserve [Abstract]
Beginning Balance			0
Restructuring Charges			758
Asset Write-Down			(758)
Translation			0
Cash Expenditures			0
Ending Balance	0		0
Infrastructure [Member] | Other Restructuring [Member]
Restructuring Reserve [Abstract]
Beginning Balance			28
Restructuring Charges			2
Asset Write-Down			0
Translation			(1)
Cash Expenditures			(4)
Ending Balance	$ 25		$ 25

Restructuring and Related Cha_3

Restructuring and Related Charges - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 56,497,000		$ 56,497,000		$ 19,212,000
Document Period End Date			Dec. 31, 2019
Restructuring and Related Cost, Incurred Cost	51,300,000	$ 2,100,000	$ 59,300,000	$ 3,100,000
Restructuring Charges	48,000,000	1,500,000	52,714,000	2,600,000
Restructuring Charges Related to Inventory Disposals	300,000		300,000
Industrial [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	46,305,000		46,305,000		8,898,000
Restructuring Charges			49,731,000
Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	7,775,000		7,775,000		7,984,000
Restructuring Charges			2,630,000
WIDIA [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	2,417,000		2,417,000		2,330,000
Restructuring Charges			353,000
FY20 Restructuring Actions [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	44,500,000		44,500,000
FY20 Restructuring Actions [Member] | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	55,000,000		55,000,000
FY20 Restructuring Actions [Member] | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	65,000,000		65,000,000
FY20 Restructuring Actions [Member] | Industrial [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	0.80		0.80
Restructuring and Related Cost, Cost Incurred to Date	36,600,000		36,600,000
FY20 Restructuring Actions [Member] | Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	0.15		0.15
Restructuring and Related Cost, Cost Incurred to Date	5,800,000		5,800,000
FY20 Restructuring Actions [Member] | WIDIA [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	0.05		0.05
Restructuring and Related Cost, Cost Incurred to Date	2,200,000		2,200,000
FY21 Restructuring Actions [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	28,700,000		28,700,000
FY21 Restructuring Actions [Member] | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	55,000,000		55,000,000
FY21 Restructuring Actions [Member] | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	65,000,000		65,000,000
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Related Charges Recorded in Cost of Goods Sold or Operating Expense	3,300,000	$ 600,000	6,600,000	$ 500,000
Other Restructuring [Member] | Industrial [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	25,000		25,000		35,000
Restructuring Charges			4,000
Other Restructuring [Member] | Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	25,000		25,000		28,000
Restructuring Charges			2,000
Other Restructuring [Member] | WIDIA [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	24,000		24,000		$ 24,000
Restructuring Charges			0
Other Current Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	43,500,000		43,500,000
Other Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 13,000,000		$ 13,000,000

Stock-Based Compensation - Chan

Stock-Based Compensation - Changes in Stock Options (Details)	6 Months Ended
	Dec. 31, 2019USD ($)$ / sharesshares
Changes in stock options
Options outstanding, June 30, 2019 | shares	781,673
Options, Exercised | shares	(34,525)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period | shares	(42,544)
Options outstanding, December 31, 2019 | shares	704,604
Options vested and expected to vest, December 31, 2019 | shares	704,604
Options exercisable, December 31, 2019 | shares	704,604
Weighted Average Exercise Price, Options outstanding, June 30, 2019 | $ / shares	$ 33.92
Weighted Average Exercise Price, Exercised | $ / shares	26.62
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $ / shares	43.30
Weighted Average Exercise Price, Options outstanding, December 31, 2019 | $ / shares	33.71
Weighted Average Exercise Price, Option vested and expected to vest, December 31, 2019 | $ / shares	33.71
Weighted Average Exercise Price, Options exercisable, December 31, 2019 | $ / shares	$ 33.71
Weighted Average Remaining Life, Options outstanding, December 31, 2019	3 years 3 months 18 days
Weighted Average Remaining Life, Options vested and expected to vest, December 31, 2019	3 years 3 months 18 days
Weighted Average Remaining Life, Options exercisable, December 31, 2019	3 years 3 months 18 days
Aggregate Intrinsic value, Options outstanding, December 31, 2019 | $	$ 3,757,000
Aggregate Intrinsic Value, Options vested and expected to vest, December 31, 2019 | $	3,757,000
Aggregate Intrinsic Value, Options exercisable, December 31, 2019 | $	$ 3,757,000

Stock-Based Compensation - Ch_2

Stock-Based Compensation - Changes in Restricted Stock Units (Details)	6 Months Ended
	Dec. 31, 2019$ / sharesshares
Restricted Stock Units - Performance Vesting [Member]
Changes in restricted stock awards
Unvested restricted stock awards, June 30, 2019, Shares | shares	405,230
Granted, Shares | shares	275,216
Vested, Shares | shares	(146,377)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations | shares	32,707
Forfeited, Shares | shares	(1,440)
Unvested restricted stock awards, December 31, 2019 | shares	565,336
Weighted Average Fair Value, Unvested restricted stock awards, June 30, 2019 | $ / shares	$ 35.58
Weighted Average Fair Value, Granted | $ / shares	28.74
Weighted Average Fair Value, Vested | $ / shares	27.09
Weighted Average Fair Value, Performance Metric Not Achieved | $ / shares	32.79
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares	39.26
Weighted Average Fair Value, Unvested restricted stock awards, December 31, 2019 | $ / shares	$ 34.28
Restricted Stock Units - Time Vesting [Member]
Changes in restricted stock awards
Unvested restricted stock awards, June 30, 2019, Shares | shares	926,927
Granted, Shares | shares	619,154
Vested, Shares | shares	(435,815)
Performance metric adjustments, net, Shares | shares	0
Forfeited, Shares | shares	(8,479)
Unvested restricted stock awards, December 31, 2019 | shares	1,101,787
Weighted Average Fair Value, Unvested restricted stock awards, June 30, 2019 | $ / shares	$ 36.43
Weighted Average Fair Value, Granted | $ / shares	27.95
Weighted Average Fair Value, Vested | $ / shares	33.79
Weighted Average Fair Value, Performance Metric Not Achieved | $ / shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares	35.20
Weighted Average Fair Value, Unvested restricted stock awards, December 31, 2019 | $ / shares	$ 32.72

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Textual) - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Stock-Based Compensation (Textual) [Abstract]
Cash received from the exercise of capital stock option	$ 0.7	$ 3.9
Stock Option [Member]
Stock-Based Compensation (Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value		1.2
Total Intrinsic value of options exercised	0.3	1.8
Restricted Stock Units (RSUs) [Member]
Stock-Based Compensation (Textual) [Abstract]
Compensation expense related to time vesting and performance vesting restricted stock units	13.4	$ 12.8
Unrecognized compensation cost	$ 28.6
Unrecognized compensation costs, weighted average period	2 years 1 month 6 days

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits - Components of Net Periodic Pension Income (Details) - Pension plans contribution [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Net periodic pension income
Service cost	$ 445	$ 407	$ 895	$ 818
Interest cost	6,832	7,970	13,656	15,960
Expected return on plan assets	(13,496)	(13,434)	(26,952)	(26,896)
Amortization of transition obligation	22	23	44	45
Amortization of prior service cost (credit)	13	(5)	25	(10)
Recognition of actuarial losses	2,585	1,679	5,180	3,374
Settlement gain	0	0	(122)	0
Net periodic pension income	$ (3,599)	$ (3,360)	$ (7,274)	$ (6,709)

Pension and Other Postretirem_4

Pension and Other Postretirement Benefits - Components of Net Periodic Other Postretirement Benefit Cost (Details) - Other postretirement benefit plans [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Net periodic other postretirement benefit costs
Interest cost	$ 101	$ 153	$ 202	$ 307
Amortization of prior service credit	(69)	(22)	(138)	(45)
Recognition of actuarial loss	64	62	128	124
Net periodic other postretirement benefit cost	$ 96	$ 193	$ 192	$ 386

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Inventories
Finished goods	$ 312,524	$ 311,684
Work in process and powder blends	194,933	246,414
Raw materials	78,892	95,620
Inventories at current cost	586,349	653,718
Less: LIFO valuation	(63,850)	(82,142)
Total inventories	$ 522,499	$ 571,576
Inventories (Textual) [Abstract]
Percentage of inventories valued by using LIFO method	40.00%	41.00%

Leases Leases (Details)

Leases Leases (Details) - USD ($)	3 Months Ended	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Jul. 01, 2019	Jun. 30, 2019
Operating Leased Assets [Line Items]
Short-term Lease, Cost	$ 1,900,000	$ 4,000,000
Document Period End Date		Dec. 31, 2019
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	8,206,000	$ 8,206,000
Lessee, Operating Lease, Liability, Payments, Due Year Two	13,093,000	13,093,000
Lessee, Operating Lease, Liability, Payments, Due Year Three	8,532,000	8,532,000
Lessee, Operating Lease, Liability, Payments, Due Year Four	5,602,000	5,602,000
Lessee, Operating Lease, Liability, Payments, Due Year Five	3,884,000	3,884,000
Lessee, Operating Lease, Liability, Payments, Due after Year Five	$ 19,304,000	19,304,000
Operating Lease, Payments		7,978,000
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability		$ 5,572,000
Operating Lease, Weighted Average Remaining Lease Term	8 years 10 months 24 days	8 years 10 months 24 days
Operating Leases, Future Minimum Payments Due, Next Twelve Months				$ 17,074,000
Operating Leases, Future Minimum Payments, Due in Two Years				12,212,000
Operating Leases, Future Minimum Payments, Due in Three Years				6,693,000
Operating Leases, Future Minimum Payments, Due in Four Years				4,294,000
Operating Leases, Future Minimum Payments, Due in Five Years				2,636,000
Operating Leases, Future Minimum Payments, Due Thereafter				17,168,000
Operating Leases, Future Minimum Payments Due				$ 60,077,000
Operating Lease, Weighted Average Discount Rate, Percent	3.40%	3.40%
Lessee, Operating Lease, Liability, Payments, Due	$ 58,621,000	$ 58,621,000
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	8,213,000	8,213,000
Operating Lease, Liability	50,408,000	50,408,000	$ 49,000,000
Operating Expense [Member]
Operating Leased Assets [Line Items]
Operating Lease, Cost	$ 4,200,000	$ 8,300,000

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jun. 30, 2019	Jun. 07, 2018
Long-Term Debt (Additional Textual) [Abstract]
Fixed rate at fair market value	$ 630.8	$ 622
2018 Credit Agreement [Member]
Long-Term Debt (Textual) [Abstract]
Borrowing outstanding under 2018 Credit Agreement	$ 0
Line of Credit Facility, Maximum Borrowing Capacity			$ 700

Environmental Matters (Details)

Environmental Matters (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jun. 30, 2019
Environmental Remediation Obligations [Abstract]
Reserves for Environmental Costs	$ 12	$ 12.4

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Income Taxes - Additional Information [Line Items]
Document Period End Date			Dec. 31, 2019
Tax Cuts and Jobs Act, Incomplete Accounting, Transition Tax for Accumulated Foreign Earnings, Provisional Income Tax Expense		$ (3.9)
Income Tax (Textual) [Abstract]
Effective tax rate	87.90%	24.80%	102.90%	24.90%
Discrete Benefit for Swiss Tax Reform			$ 14.5
Change in Permanent Reinvestment Assertion		$ 6.1

Earnings Per Shares (Details)

Earnings Per Shares (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted Average Number of Shares Outstanding, Basic	83,075	82,331	82,979	82,218
Earnings Per Share (Textual) [Abstract]
Increase in weighted average shares due to dilutive effect of unexercised capital stock options and unvested restricted stock units		979	639	1,015
Weighted Average Number of Shares Outstanding, Diluted	83,075	83,310	83,618	83,233
Unexercised capital stock options and restricted stock units excluded from computation of diluted EPS		469	641	400

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Beginning Balance	$ 1,337,650	$ 1,264,109	$ 1,374,704	$ 1,230,327
Net income	(6,229)	56,247	1,181	114,670	$ 114,670
Other comprehensive income (loss)	24,753	(799)	(5,529)	(15,039)
Dividend reinvestment	52	54	106	107
Capital stock issued under employee benefit and stock plans	5,903	5,149	8,287	11,146
Purchase of capital stock	(52)	(54)	(106)	(107)
Additions to noncontrolling interest	1,527		1,527
Cash dividends	(16,577)	(16,422)	(33,143)	(32,820)
Ending Balance	1,347,027	1,308,284	1,347,027	1,308,284
Capital stock [Member]
Beginning Balance	103,542	102,615	103,026	102,058
Dividend reinvestment	2	2	4	3
Capital stock issued under employee benefit and stock plans	76	85	592	642
Purchase of capital stock	(2)	(2)	(4)	(3)
Ending Balance	103,618	102,700	103,618	102,700
Additional paid-in capital [Member]
Beginning Balance	530,695	517,349	528,827	511,909
Dividend reinvestment	50	52	102	104
Capital stock issued under employee benefit and stock plans	5,827	5,064	7,695	10,504
Purchase of capital stock	(50)	(52)	(102)	(104)
Ending Balance	536,522	522,413	536,522	522,413
Retained earnings [Member]
Beginning Balance	1,066,763	940,983	1,076,862	900,683
Net income	(5,939)	54,698	528	111,396
Cash dividends	(16,577)	(16,422)	(33,143)	(32,820)
Ending Balance	1,044,247	979,259	1,044,247	979,259
Accumulated other comprehensive loss [Member]
Beginning Balance	(402,434)	(333,333)	(373,543)	(320,325)
Other comprehensive income (loss)	24,215	(1,299)	(4,676)	(14,307)
Ending Balance	(378,219)	(334,632)	(378,219)	(334,632)
Non-controlling interest [Member]
Beginning Balance	39,084	36,495	39,532	36,002
Net income	(290)	1,549	653	3,274
Other comprehensive income (loss)	538	500	(853)	(732)
Additions to noncontrolling interest	1,527		1,527
Cash dividends	0	0	0
Ending Balance	$ 40,859	$ 38,544	$ 40,859	$ 38,544

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Components of and Changes in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			$ (373,543)	$ (320,325)
Other comprehensive (loss) income before reclassifications			(8,414)	(17,770)
Amounts reclassified from accumulated other comprehensive loss			3,738	3,463
Net current period other comprehensive income (loss)			(4,676)	(14,307)
Accumulated Other Comprehensive Loss, Net of Tax	$ (378,219)	$ (334,632)	(378,219)	(334,632)
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			(222,270)	(187,755)
Other comprehensive (loss) income before reclassifications			(449)	1,194
Amounts reclassified from accumulated other comprehensive loss			3,950	2,606
Net current period other comprehensive income (loss)			3,501	3,800
Accumulated Other Comprehensive Loss, Net of Tax	(218,769)	(183,955)	(218,769)	(183,955)
Accumulated Currency Translation Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			(147,595)	(127,347)
Other comprehensive (loss) income before reclassifications			(8,821)	(18,873)
Amounts reclassified from accumulated other comprehensive loss			0	0
Net current period other comprehensive income (loss)			(8,821)	(18,873)
Accumulated Other Comprehensive Loss, Net of Tax	(156,416)	(146,220)	(156,416)	(146,220)
Accumulated Net (Loss) Gain from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			(3,678)	(5,223)
Other comprehensive (loss) income before reclassifications			856	(91)
Amounts reclassified from accumulated other comprehensive loss			(212)	857
Net current period other comprehensive income (loss)			644	766
Accumulated Other Comprehensive Loss, Net of Tax	(3,034)	(4,457)	(3,034)	(4,457)
Noncontrolling Interest [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			(3,450)	(2,913)
Other comprehensive (loss) income before reclassifications			(853)	(732)
Net current period other comprehensive income (loss)			(853)	(732)
Accumulated Other Comprehensive Loss, Net of Tax	(4,303)	(3,645)	(4,303)	(3,645)
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	(2,615)	(1,737)	(5,239)	(3,488)
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	$ (521)	$ 347	$ (281)	$ 1,135

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Loss [Line Items]
Currency exchange contracts	$ 4,211	$ 4,022	$ 6,891	$ 6,782
Reclassification of unrealized (gain) loss on derivatives designated and qualified as cash flow hedges, tax	128	(85)	69	(278)
Recognition of actuarial losses	2,615	1,737	5,239	3,488
(Benefit) provision for income taxes	(45,253)	18,529	(41,487)	37,921
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]
Reclassification of unrealized (gain) loss on derivatives designated and qualified as cash flow hedges, tax	128	(85)	69	(278)
Total before tax	521	(347)	281	(1,135)
Net of tax	(393)	262	(212)	857
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	22	23	44	45
Amortization of prior service credit	(56)	(27)	(113)	(55)
Recognition of actuarial losses	2,649	1,741	5,308	3,498
Total before tax	2,615	1,737	5,239	3,488
(Benefit) provision for income taxes	(625)	(439)	(1,289)	(882)
Net of tax	(1,990)	(1,298)	(3,950)	(2,606)
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	611	588	1,222	1,176
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	$ (1,132)	$ (241)	$ (1,503)	$ (41)

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Loss Other Comprehensive Income - Income Tax Allocated to Each Component (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Other Comprehensive Income - Income Tax Allocated to Each Component [Abstract]
Unrealized gain (loss) on derivatives designated and qualified as cash flow hedges, before tax	$ 611	$ 225	$ 1,134	$ (121)
Unrealized gain (loss) on derivatives designated and qualified as cash flow hedges, tax	(150)	(55)	(278)	30
Unrealized gain (loss) on derivatives designated and qualified as cash flow hedges, net of tax	461	170	856	(91)
Reclassification of unrealized (gain) loss on derivatives designated and qualified as cash flow hedges, before tax	(521)	347	(281)	1,135
Reclassification of unrealized (gain) loss on derivatives designated and qualified as cash flow hedges, tax	128	(85)	69	(278)
Reclassification of unrealized (gain) loss on derivatives designated and qualified as cash flow hedges, net of tax	(393)	262	(212)	857
Unrecognized net pension and other postretirement benefit (loss) gain, before tax	(3,887)	1,134	(418)	1,551
Unrecognized net pension and other postretirement benefit (loss) gain, tax	831	(263)	(31)	(357)
Unrecognized net pension and other postretirement benefit (loss) gain, net of tax	(3,056)	871	(449)	1,194
Reclassification of net pension and other postretirement benefit loss, before tax	2,615	1,737	5,239	3,488
Reclassification of net pension and other postretirement benefit loss, tax	(625)	(439)	(1,289)	(882)
Reclassification of net pension and other postretirement benefit loss	1,990	1,298	3,950	2,606
Foreign currency translation adjustments, before tax	25,871	(3,407)	(9,707)	(19,679)
Foreign currency translation adjustments, tax	(120)	7	33	74
Foreign currency translation adjustments, net of tax	25,751	(3,400)	(9,674)	(19,605)
Other comprehensive income (loss), before tax	24,689	36	(4,033)	(13,626)
Other comprehensive income (loss), tax	64	(835)	(1,496)	(1,413)
Other comprehensive income (loss), net of tax	$ 24,753	$ (799)	$ (5,529)	$ (15,039)

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Carrying Amount of Goodwill Attributable to Each Segment (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2019	Jun. 30, 2019
Goodwill [Line Items]
Goodwill and Intangible Asset Impairment	$ 14,600
Document Period End Date	Dec. 31, 2019
Goodwill [Roll Forward]
Gross goodwill	$ 1,083,013	$ 1,084,064
Accumulated impairment losses	(797,187)	(784,053)
Goodwill, Beginning Balance	300,011
Change in gross goodwill due to translation	(1,051)
Impairment charges	(13,134)
Goodwill, Ending Balance	285,826
Industrial [Member]
Goodwill [Roll Forward]
Gross goodwill	409,063	409,912
Accumulated impairment losses	(137,204)	(137,204)
Goodwill, Beginning Balance	272,708
Change in gross goodwill due to translation	(849)
Impairment charges	0
Goodwill, Ending Balance	271,859
Infrastructure [Member]
Goodwill [Roll Forward]
Gross goodwill	633,211	633,211
Accumulated impairment losses	(633,211)	(633,211)
Goodwill, Beginning Balance	0
Change in gross goodwill due to translation	0
Impairment charges	0
Goodwill, Ending Balance	0
WIDIA [Member]
Goodwill [Roll Forward]
Gross goodwill	40,739	40,941
Accumulated impairment losses	(26,772)	$ (13,638)
Goodwill, Beginning Balance	27,303
Change in gross goodwill due to translation	(202)
Impairment charges	13,134
Goodwill, Ending Balance	$ 13,967

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Components of Other Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2019	Jun. 30, 2019
Finite-Lived and Indefinite-lived Intangible Assets [Line Items]
Other Intangible Assets, Written off Related to Sale of Business Unit	$ 12,500
Document Period End Date	Dec. 31, 2019
The components of intangible assets
Accumulated amortization	$ (130,964)	$ (158,507)
Intangible Assets, Gross (Excluding Goodwill)	272,362	319,505
Trademarks [Member]
The components of intangible assets
Gross carrying amount, Indefinite	12,993	14,545
Contractual Rights [Member]
The components of intangible assets
Gross carrying amount, finite	0	7,062
Accumulated amortization	0	(7,062)
Technology-based and other [Member]
The components of intangible assets
Gross carrying amount, finite	32,684	46,228
Accumulated amortization	(22,139)	(31,890)
Customer-related [Member]
The components of intangible assets
Gross carrying amount, finite	181,962	205,213
Accumulated amortization	(83,923)	(94,711)
Unpatented technology [Member]
The components of intangible assets
Gross carrying amount, finite	31,649	31,702
Accumulated amortization	(16,696)	(15,492)
Trademarks [Member]
The components of intangible assets
Gross carrying amount, finite	13,074	14,755
Accumulated amortization	$ (8,206)	$ (9,352)
Minimum [Member] | Contractual Rights [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] | Contractual Rights [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
WIDIA [Member]
Finite-Lived and Indefinite-lived Intangible Assets [Line Items]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)	$ (1,500)

Segment Data - Sales and Operat

Segment Data - Sales and Operating Income (Loss) by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2019
Segment Reporting Information [Line Items]
Assets	$ 2,623,033		$ 2,623,033		$ 2,656,269
External sales:
Sales	505,080	$ 587,394	1,023,168	$ 1,174,080
Operating income (loss):
Total operating (loss) income	47,638	(78,858)	31,261	(162,010)
Interest expense	8,055	8,104	15,936	16,201
Other income, net	(4,211)	(4,022)	(6,891)	(6,782)
(Loss) income from continuing operations before income taxes	(51,482)	74,776	(40,306)	152,591
Industrial [Member]
External sales:
Sales	279,242	317,320	559,270	637,878
Operating income (loss):
Total operating (loss) income	19,259	(57,519)	(2,012)	(116,061)
Infrastructure [Member]
External sales:
Sales	181,501	221,120	375,504	438,576
Operating income (loss):
Total operating (loss) income	11,570	(20,614)	14,260	(44,474)
WIDIA [Member]
External sales:
Sales	44,337	48,954	88,394	97,626
Operating income (loss):
Total operating (loss) income	15,918	(1,728)	17,882	(3,822)
Corporate [Member]
Operating income (loss):
Total operating (loss) income	$ 891	$ 1,003	$ 1,131	$ 2,347

Segment Data Disaggregation of

Segment Data Disaggregation of Revenue (Details)	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	46.00%	44.00%	45.00%	44.00%
Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	18.00%	18.00%	18.00%	19.00%
Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	8.00%	7.00%	8.00%	7.00%
Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	15.00%	19.00%	15.00%	18.00%
Earthworks [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	13.00%	12.00%	14.00%	12.00%
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	48.00%	50.00%	49.00%	50.00%
EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	30.00%	30.00%	30.00%	29.00%
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	22.00%	20.00%	21.00%	21.00%
Infrastructure [Member] | General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	34.00%	32.00%	34.00%	32.00%
Infrastructure [Member] | Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	29.00%	36.00%	29.00%	35.00%
Infrastructure [Member] | Earthworks [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	37.00%	32.00%	37.00%	33.00%
Infrastructure [Member] | Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	61.00%	66.00%	62.00%	66.00%
Infrastructure [Member] | EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	17.00%	15.00%	18.00%	15.00%
Infrastructure [Member] | Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	22.00%	19.00%	20.00%	19.00%
WIDIA [Member] | General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	100.00%	100.00%	100.00%	100.00%
WIDIA [Member] | Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	47.00%	45.00%	48.00%	45.00%
WIDIA [Member] | EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	26.00%	26.00%	26.00%	25.00%
WIDIA [Member] | Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	27.00%	29.00%	26.00%	30.00%
Industrial [Member] | General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	45.00%	44.00%	44.00%	44.00%
Industrial [Member] | Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	32.00%	34.00%	33.00%	34.00%
Industrial [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	14.00%	13.00%	14.00%	13.00%
Industrial [Member] | Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	9.00%	9.00%	9.00%	9.00%
Industrial [Member] | Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	41.00%	40.00%	41.00%	40.00%
Industrial [Member] | EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	38.00%	41.00%	38.00%	40.00%
Industrial [Member] | Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	21.00%	19.00%	21.00%	20.00%