Kennametal (KMT) 10-Q 5 May 20 2020 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2020	Apr. 30, 2020
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
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)		82,913,959
Entity Central Index Key	0000055242
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
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

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Sales	$ 483,084	$ 597,204	$ 1,506,252	$ 1,771,285
Cost of goods sold	326,066	389,118	1,078,236	1,153,509
Gross profit	157,018	208,086	428,016	617,776
Operating expense	98,534	120,135	320,273	358,054
Restructuring and asset impairment charges (Notes 7 and 18)	17,187	2,440	84,182	5,061
Loss on divestiture (Note 4)	0	0	6,517	0
Amortization of intangibles	3,404	3,640	10,413	10,780
Operating income	37,893	81,871	6,631	243,881
Interest expense	7,897	8,104	23,834	24,305
Other income, net	(2,438)	(4,993)	(9,330)	(11,775)
Income (loss) before income taxes	32,434	78,760	(7,873)	231,351
Provision (benefit) for income taxes	30,193	8,632	(11,295)	46,553
Net income	2,241	70,128	3,422	184,798
Less: Net (loss) income attributable to noncontrolling interests	(676)	1,578	(23)	4,852
Net income attributable to Kennametal	$ 2,917	$ 68,550	$ 3,445	$ 179,946
PER SHARE DATA ATTRIBUTABLE TO KENNAMETAL SHAREHOLDERS
Basic earnings per share	$ 0.04	$ 0.83	$ 0.04	$ 2.19
Diluted earnings per share	0.03	0.82	0.04	2.16
Dividends per share	$ 0.20	$ 0.20	$ 0.60	$ 0.60
Basic weighted average shares outstanding	83,106	82,479	83,022	82,305
Diluted weighted average shares outstanding	83,696	83,339	83,589	83,266
Noncontrolling Interest [Member]
Net income	$ (676)	$ 1,578	$ (23)	$ 4,852

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Net income	$ 2,241	$ 70,128	$ 3,422	$ 184,798
Other comprehensive (loss) income, net of tax [Abstract]
Unrealized (loss) gain on derivatives designated and qualified as cash flow hedges	(1,000)	232	(144)	141
Reclassification of unrealized loss on derivatives designated and qualified as cash flow hedges	518	695	306	1,552
Unrecognized net pension and other postretirement benefit gain	2,573	51	2,123	1,246
Reclassification of net pension and other postretirement benefit loss	1,966	1,287	5,916	3,893
Foreign currency translation adjustments	(38,018)	(1,239)	(47,691)	(20,845)
Total other comprehensive (loss) income, net of tax	(33,961)	1,026	(39,490)	(14,013)
Total comprehensive (loss) income	(31,720)	71,154	(36,068)	170,785
Less: comprehensive (loss) income attributable to noncontrolling interests	(2,659)	1,612	(2,860)	4,154
Comprehensive (loss) income attributable to Kennametal Shareholders	$ (29,061)	$ 69,542	$ (33,208)	$ 166,631

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Current assets:
Cash and cash equivalents	$ 85,230	$ 182,015
Accounts receivable, less allowance for doubtful accounts of $10,090 and $10,083, respectively	304,162	379,855
Inventories (Note 10)	516,781	571,576
Other current assets	60,550	57,381
Total current assets	966,723	1,190,827
Property, plant and equipment:
Land and buildings	347,490	351,142
Machinery and equipment	1,884,545	1,804,871
Less accumulated depreciation	(1,216,676)	(1,221,118)
Property, plant and equipment, net	1,015,359	934,895
Other assets:
Goodwill (Note 18)	268,658	300,011
Other intangible assets, less accumulated amortization of $133,306 and $158,507, respectively (Note 18)	135,687	160,998
Operating lease right-of-use assets (Note 11)	46,747	0
Deferred income taxes	32,196	20,507
Other	72,730	49,031
Total other assets	556,018	530,547
Total assets	2,538,100	2,656,269
Current liabilities:
Current maturities of long-term debt (Note 12)	4,500	0
Notes payable to banks	0	157
Current operating lease liabilities (Note 11)	12,935	0
Accounts payable	165,062	212,908
Accrued income taxes	10,470	29,223
Accrued expenses	51,466	76,616
Other current liabilities	138,698	142,822
Total current liabilities	383,131	461,726
Long-term debt, less current maturities (Note 12)	593,607	592,474
Operating lease liabilities (Note 11)	34,290	0
Deferred income taxes	13,504	23,322
Accrued pension and postretirement benefits	166,851	174,003
Accrued income taxes	9,304	9,038
Other liabilities	38,590	21,002
Total liabilities	1,239,277	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; 82,914 and 82,421 shares issued, respectively	103,642	103,026
Additional paid-in capital	536,596	528,827
Retained earnings	1,030,582	1,076,862
Accumulated other comprehensive loss	(410,197)	(373,543)
Total Kennametal Shareholders' Equity	1,260,623	1,335,172
Noncontrolling interests	38,200	39,532
Total equity	1,298,823	1,374,704
Total liabilities and equity	$ 2,538,100	$ 2,656,269

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 10,090	$ 10,083
Accumulated amortization on other intangible assets	$ 133,306	$ 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	82,914	82,421

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
OPERATING ACTIVITIES
Net income	$ 3,422	$ 184,798
Adjustments for non-cash items:
Depreciation	79,078	72,087
Amortization	10,413	10,780
Stock-based compensation expense	14,289	18,844
Restructuring and asset impairment charges (Notes 7 and 18))	33,792	1,905
Deferred income tax provision (benefit)	(23,597)	2,409
Loss on divestiture (Note 4)	6,517	0
Other	2,748	2,567
Changes in certain assets and liabilities:
Accounts receivable	60,616	(7,595)
Inventories	29,947	(71,814)
Accounts payable and accrued liabilities	(34,351)	(57,165)
Accrued income taxes	(21,957)	5,936
Accrued pension and postretirement benefits	(18,163)	(13,862)
Other	3,305	8,575
Net cash flow provided by operating activities	146,059	157,465
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(206,061)	(145,942)
Disposals of property, plant and equipment	2,780	3,575
Proceeds from divestiture (Note 4)	23,950	0
Other	(869)	(371)
Net cash flow used for investing activities	(180,200)	(142,738)
FINANCING ACTIVITIES
Net decrease in notes payable	(175)	(871)
Net increase (decrease) in short-term revolving and other lines of credit	4,500	(174)
Term debt repayments	0	(400,000)
Purchase of capital stock	(158)	(161)
The effect of employee benefit and stock plans and dividend reinvestment	5,747	5,249
Cash dividends paid to Shareholders	(49,725)	(49,268)
Other	(2,698)	(687)
Net cash flow used for financing activities	(54,003)	(456,410)
Effect of exchange rate changes on cash and cash equivalents	(8,641)	(1,873)
CASH AND CASH EQUIVALENTS
Net decrease in cash and cash equivalents	(96,785)	(443,556)
Cash and cash equivalents, beginning of period	182,015	556,153
Cash and cash equivalents, end of period	$ 85,230	$ 112,597

Basis of Presentation

Basis of Presentation	9 Months Ended
	Mar. 31, 2020
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 nine months ended March 31, 2020 and 2019 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	9 Months Ended
	Mar. 31, 2020
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 disclosure 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 on 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.

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	9 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Nine Months Ended March 31, (in thousands) 2020 2019 Cash paid during the period for: Income taxes $ 31,523 $ 38,208 Interest 20,783 23,175 Supplemental disclosure of non-cash information: Changes in accounts payable related to purchases of property, plant and equipment (16,000 ) 2,400

Divestiture (Notes)

Divestiture (Notes)	9 Months Ended
	Mar. 31, 2020
Divestiture [Abstract]
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	DIVESTITURE During the nine months ended March 31, 2020, 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	9 Months Ended
	Mar. 31, 2020
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 March 31, 2020 , 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) $ — $ 289 $ — $ 289 Total assets at fair value $ — $ 289 $ — $ 289 Liabilities: Derivatives (1) $ — $ 1,878 $ — $ 1,878 Total liabilities at fair value $ — $ 1,878 $ — $ 1,878 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 and interest rate 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	9 Months Ended
	Mar. 31, 2020
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) March 31, 2020 June 30, Derivatives designated as hedging instruments Other current assets - range forward contracts $ 170 $ 145 Other assets - forward starting interest rate swap contracts 89 — Other liabilities - forward starting interest rate swap contracts (1,614 ) — Total derivatives designated as hedging instruments (1,355 ) 145 Derivatives not designated as hedging instruments Other current assets - currency forward contracts 30 8 Other current liabilities - currency forward contracts (264 ) (56 ) Total derivatives not designated as hedging instruments (234 ) (48 ) Total derivatives $ (1,589 ) $ 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. Losses (gains) related to derivatives not designated as hedging instruments have been recognized as follows: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2020 2019 2020 2019 Other income, net - currency forward contracts $ 220 $ (11 ) $ 231 $ 65 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 March 31, 2020 and June 30, 2019 was $12.1 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 March 31, 2020 , we expect to recognize into earnings $0.1 million of income on outstanding derivatives in the next 12 months. During the third quarter of fiscal 2020, we entered into forward starting interest rate swap contracts to hedge a portion of the interest rate risk related to our anticipated refinancing of the Senior Unsecured Notes due fiscal 2022. We recorded the fair value of these contracts as an asset or a liability, as applicable, in the balance sheet, with the offset to accumulated other comprehensive income, net of tax. The notional amount of the contracts at March 31, 2020 was $200.0 million . As of March 31, 2020, we recorded an asset of $0.1 million and a liability of $1.6 million on these contracts, the net effect of which was recorded as a decrease to other comprehensive income, net of tax. The following represents gains and losses related to cash flow hedges: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2020 2019 2020 2019 (Losses) gains recognized in other comprehensive (loss) income, net $ (999 ) $ 695 $ (143 ) $ 603 Losses reclassified from accumulated other comprehensive loss into cost of goods sold and other income, net $ 457 $ 403 $ 1,007 $ 1,500 No portion of the gains or losses recognized in earnings was due to ineffectiveness and no amounts were excluded from our effectiveness testing for the nine months ended March 31, 2020 and 2019. NET INVESTMENT HEDGES As of March 31, 2020 , 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 gains of $1.1 million and $2.3 million as a component of foreign currency translation adjustments in other comprehensive (loss) income for the three months ended March 31, 2020 and 2019, respectively. We recorded gains of $1.0 million and $2.8 million as a component of foreign currency translation adjustments in other comprehensive loss for the nine months ended March 31, 2020 and 2019, respectively. As of March 31, 2020 , 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 € 28,727 $ 31,517 June 26, 2022 Foreign currency-denominated intercompany loan payable 20,091 22,043 November 22, 2021 (2) Includes principal and accrued interest.

Restructuring and Related Charg

Restructuring and Related Charges	9 Months Ended
	Mar. 31, 2020
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 $60 million , which are expected to be 80 percent Industrial, 15 percent Infrastructure and 5 percent Widia. Total restructuring and related charges since inception of $50.0 million were recorded for this program through March 31, 2020 , consisting of: $40.6 million in Industrial; $7.2 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 our simplification/modernization initiative, which are expected to reduce structural costs. We have agreed with local employee representatives to downsize our 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 $28.8 million were recorded for this program through March 31, 2020 , all of which were recorded in the Industrial segment. Restructuring and Related Charges Recorded We recorded restructuring and related charges of $5.8 million and $3.7 million for the three months ended March 31, 2020 and 2019 , respectively. Of these amounts, restructuring charges totaled $1.8 million and $2.6 million for the three months ended March 31, 2020 and 2019 , respectively, of which $0.2 million were related to inventory and were recorded in cost of goods sold for the three months ended March 31, 2020 and 2019 . Restructuring-related charges of $4.0 million and $0.9 million were recorded in cost of goods sold for the three months ended March 31, 2020 and 2019 , respectively. Restructuring-related charges of $0.1 million were recorded in operating expense for the three months ended March 31, 2019. We recorded restructuring and related charges of $65.1 million and $6.8 million for the nine months ended March 31, 2020 and 2019 , respectively. Of these amounts, restructuring charges totaled $54.5 million and $5.3 million for the nine months ended March 31, 2020 and 2019 , respectively, of which $0.6 million and $0.2 million were related to inventory and were recorded in cost of goods sold for the nine months ended March 31, 2020 and 2019 , respectively. Restructuring-related charges of $10.6 million and $1.4 million were recorded in cost of goods sold for the nine months ended March 31, 2020 and 2019 , respectively. Restructuring-related charges of $0.1 million were recorded in operating expense for the nine months ended March 31, 2019. As of March 31, 2020 , $24.7 million and $16.2 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 March 31, 2020 Industrial Severance $ 8,863 $ 49,455 $ — $ (780 ) $ (25,413 ) $ 32,125 Facilities — 1,857 (1,857 ) — — — Other 35 4 — (1 ) (22 ) 16 Total Industrial $ 8,898 $ 51,316 $ (1,857 ) $ (781 ) $ (25,435 ) $ 32,141 Widia Severance $ 2,306 $ 342 $ — $ (28 ) $ (321 ) $ 2,299 Facilities — 41 (41 ) — — — Other 24 — — — — 24 Total Widia $ 2,330 $ 383 $ (41 ) $ (28 ) $ (321 ) $ 2,323 Infrastructure Severance $ 7,956 $ 2,053 $ — $ (313 ) $ (3,225 ) $ 6,471 Facilities — 758 (758 ) — — — Other 28 2 — (1 ) (5 ) 24 Total Infrastructure $ 7,984 $ 2,813 $ (758 ) $ (314 ) $ (3,230 ) $ 6,495 Total $ 19,212 $ 54,512 $ (2,656 ) $ (1,123 ) $ (28,986 ) $ 40,959

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Stock Options Changes in our stock options for the nine months ended March 31, 2020 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, March 31, 2020 704,604 $ 33.71 2.8 $ — Options vested, March 31, 2020 704,604 $ 33.71 2.8 $ — Options exercisable, March 31, 2020 704,604 $ 33.71 2.8 $ — As of March 31, 2020 , there was no unrecognized compensation cost related to options outstanding. All options were fully vested as of March 31, 2020 . Fair value of options vested during the nine months ended March 31, 2019 was $1.2 million . Tax benefits relating to excess stock-based compensation deductions are presented in the operating activities section of the condensed consolidated statements of cash flow for the nine months ended March 31, 2020 and 2019. Tax benefits resulting from stock-based compensation deductions were greater than the amounts reported for financial reporting purposes by $0.2 million and $1.3 million for the nine months ended March 31, 2020 and 2019, respectively. The amount of cash received from the exercise of options during the nine months ended March 31, 2020 and 2019 was $0.7 million and $4.2 million , respectively. The total intrinsic value of options exercised during the nine months ended March 31, 2020 and 2019 was $0.3 million and $1.9 million , respectively. Restricted Stock Units – Performance Vesting and Time Vesting Changes in our performance vesting and time vesting restricted stock units for the nine months ended March 31, 2020 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 28.74 633,902 27.95 Vested (146,377 ) 27.09 (459,783 ) 33.93 Performance metric adjustments, net 32,707 32.79 — — Forfeited (12,143 ) 35.51 (43,776 ) 32.40 Unvested, March 31, 2020 554,633 $ 34.26 1,057,270 $ 32.60 During the nine months ended March 31, 2020 and 2019, compensation expense related to time vesting and performance vesting restricted stock units was $13.7 million and $18.0 million , respectively. As of March 31, 2020 , the total unrecognized compensation cost related to unvested time vesting and performance vesting restricted stock units was $22.2 million and is expected to be recognized over a weighted average period of 2.0 years.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	9 Months Ended
	Mar. 31, 2020
Retirement Benefits [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFITS	The table below summarizes the components of net periodic pension income: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2020 2019 2020 2019 Service cost $ 452 $ 406 $ 1,346 $ 1,224 Interest cost 6,848 7,979 20,504 23,939 Expected return on plan assets (13,539 ) (13,456 ) (40,491 ) (40,352 ) Amortization of transition obligation 23 23 67 68 Amortization of prior service cost (credit) 13 (5 ) 38 (15 ) Recognition of actuarial losses 2,597 1,682 7,777 5,056 Settlement gain — — (122 ) — Net periodic pension income $ (3,606 ) $ (3,371 ) $ (10,881 ) $ (10,080 ) The table below summarizes the components of net periodic other postretirement benefit cost: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2020 2019 2020 2019 Interest cost $ 101 $ 153 $ 303 $ 460 Amortization of prior service credit (69 ) (22 ) (207 ) (68 ) Recognition of actuarial loss 64 62 193 186 Net periodic other postretirement benefit cost $ 96 $ 193 $ 289 $ 578 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	9 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES We used the last-in, first-out (LIFO) method of valuing inventories for 43 percent and 41 percent of total inventories at March 31, 2020 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) March 31, 2020 June 30, 2019 Finished goods $ 293,990 $ 311,684 Work in process and powder blends 197,991 246,414 Raw materials 89,435 95,620 Inventories at current cost 581,416 653,718 Less: LIFO valuation (64,635 ) (82,142 ) Total inventories $ 516,781 $ 571,576

Leases Leases

Leases Leases	9 Months Ended
	Mar. 31, 2020
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 $1.6 million and $5.8 million for the three and nine months ended March 31, 2020 , 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 nine months ended March 31, 2020 . 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 8.7 years and 3.3 percent , respectively, at March 31, 2020 . 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 $12.3 million for the three and nine months ended March 31, 2020 , respectively. The following table sets forth supplemental cash flow information related to our operating leases: (in thousands) Nine Months Ended March 31, 2020 Operating cash flows from operating leases $ 12,181 ROU assets obtained in exchange for new operating lease liabilities $ 7,064 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 March 31, 2020 : Year Ended June 30, March 31, 2020 Remaining three months of 2020 $ 3,695 2021 12,989 2022 9,225 2023 6,083 2024 4,089 Thereafter 18,880 Total undiscounted operating lease payments $ 54,961 Less: discount to net present value 7,736 Total operating lease liabilities $ 47,225 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	9 Months Ended
	Mar. 31, 2020
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 where debt, net of domestic cash in excess of $25 million , must be less than or equal to 3.5 times trailing twelve months EBITDA, adjusted for certain non-cash expenses and which may be further adjusted, at our discretion, to include up to $80 million of cash restructuring charges through December 31, 2021; and a minimum consolidated interest coverage ratio of EBITDA to interest of 3.5 times (as the aforementioned terms are defined in the Credit Agreement). We were in compliance with all such covenants as of March 31, 2020 and we expect to maintain compliance over the next 12 months. The Company reached this conclusion after considering the information currently available to us, including the anticipated effect of the Coronavirus 2019 (COVID-19) pandemic on the macroeconomic environment. Because the extent and duration of COVID-19 is unknown, its effect on the Company’s business, financial condition, operating results and cash flows is uncertain, and therefore it could adversely affect availability under the Credit Agreement. We had $4.5 million of borrowings outstanding under the Credit Agreement as of March 31, 2020 , and we had no borrowings outstanding as of June 30, 2019 . Borrowings under the Credit Agreement are guaranteed by our significant domestic subsidiaries. The Credit Agreement matures in June 2023. Subsequent to March 31, 2020, we drew $500.0 million under the Credit Agreement. We decided to draw this $500.0 million as a measure to ensure access to future liquidity in light of the global financial market uncertainty resulting from the COVID-19 pandemic. Fixed rate debt had a fair market value of $623.1 million and $622.0 million at March 31, 2020 and June 30, 2019 , respectively. The Level 2 fair value is determined based on the quoted market prices for similar debt instruments as of March 31, 2020 and June 30, 2019 , respectively.

Environmental Matters

Environmental Matters	9 Months Ended
	Mar. 31, 2020
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 March 31, 2020 and June 30, 2019 , the balances of these reserves were $11.8 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	9 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Effective tax rates The effective income tax rates for the three months ended March 31, 2020 and 2019 were 93.1 percent and 11.0 percent , respectively. The year-over-year change is primarily due to the effects of current year restructuring and the Widia goodwill and other intangible asset impairment charges. The prior year rate included a $6.8 million discrete benefit to adjust the Toll Tax charge based on regulations issued during the March quarter of fiscal 2019. The effective income tax rates for the nine months ended March 31, 2020 and 2019 were 143.5 percent (benefit on a loss) and 20.1 percent (provision on income), respectively. The year-over-year change is primarily due to the change in the jurisdictional mix caused by expected restructuring and related charges, the Widia goodwill and other intangible asset impairment charges, a discrete $14.5 million benefit for the one-time effect of Swiss tax reform and the increase in global intangible low-taxed income (GILTI) and base erosion anti-abuse tax (BEAT). The prior year rate included a $9.7 million discrete benefit associated with tax reform and a $6.1 million charge related to changes in the indefinite reinvestment assertion on certain foreign subsidiaries' undistributed earnings. Coronavirus Aid, Relief, and Economic Security Act (CARES Act) On March 27, 2020, the CARES Act was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, allows net operating losses arising in taxable years beginning after December 31, 2017 and before January 1, 2021 to be carried back to each of the 5 preceding taxable years to generate a refund of previously paid income taxes; permits net operating loss carryovers and carrybacks to offset 100 percent of taxable income for taxable years beginning before January 1, 2021; and modifies the limitation on business interest by increasing the allowable business interest deduction from 30 percent of adjusted taxable income to 50 percent of adjusted taxable income for taxable years beginning in 2019 or 2020. We are currently in the process of evaluating the potential impact these provisions may have on the Company. Swiss tax reform Legislation was effectively enacted during the nine months ended March 31, 2020 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	9 Months Ended
	Mar. 31, 2020
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 and nine months ended March 31, 2020 and 2019: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2020 2019 2020 2019 Weighted-average shares outstanding during period 83,106 82,479 83,022 82,305 Add: Unexercised stock options and unvested restricted stock units 590 860 567 961 Number of shares on which diluted earnings per share is calculated 83,696 83,339 83,589 83,266 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 646 515 833 423

Equity

Equity	9 Months Ended
	Mar. 31, 2020
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 March 31, 2020 and 2019 is as follows: Kennametal Shareholders’ Equity (in thousands) Capital Additional Retained Accumulated Non- Total equity Balance as of December 31, 2019 $ 103,618 $ 536,522 $ 1,044,247 $ (378,219 ) $ 40,859 $ 1,347,027 Net income (loss) — — 2,917 — (676 ) 2,241 Other comprehensive loss — — — (31,978 ) (1,983 ) (33,961 ) Dividend reinvestment 2 50 — — — 52 Capital stock issued under employee benefit and stock plans (3) 24 74 — — — 98 Purchase of capital stock (2 ) (50 ) — — — (52 ) Cash dividends — — (16,582 ) — (16,582 ) Total equity, March 31, 2020 $ 103,642 $ 536,596 $ 1,030,582 $ (410,197 ) $ 38,200 $ 1,298,823 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 December 31, 2018 $ 102,700 $ 522,413 $ 979,259 $ (334,632 ) $ 38,544 $ 1,308,284 Net income — — 68,550 — 1,578 70,128 Other comprehensive income — — — 992 34 1,026 Dividend reinvestment 2 52 — — — 54 Capital stock issued under employee benefit and stock plans (3) 258 2,029 — — — 2,287 Purchase of capital stock (2 ) (52 ) — — — (54 ) Additions to noncontrolling interest — — — — 443 443 Cash dividends — — (16,448 ) — (315 ) (16,763 ) Total equity, March 31, 2019 $ 102,958 $ 524,442 $ 1,031,361 $ (333,640 ) $ 40,284 $ 1,365,405 A summary of the changes in the carrying amounts of total equity, Kennametal Shareholders’ equity and equity attributable to noncontrolling interests for the nine months ending March 31, 2020 and 2019 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 (loss) — — 3,445 — (23 ) 3,422 Other comprehensive loss — — — (36,654 ) (2,836 ) (39,490 ) Dividend reinvestment 6 151 — — — 157 Capital stock issued under employee benefit and stock plans (3) 616 7,769 — — — 8,385 Purchase of capital stock (6 ) (151 ) — — — (157 ) Additions to noncontrolling interest — — — — 1,527 1,527 Cash dividends — — (49,725 ) — — (49,725 ) Total equity, March 31, 2020 $ 103,642 $ 536,596 $ 1,030,582 $ (410,197 ) $ 38,200 $ 1,298,823 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 — — 179,946 — 4,852 184,798 Other comprehensive loss — — — (13,315 ) (698 ) (14,013 ) Dividend reinvestment 5 156 — — — 161 Capital stock issued under employee benefit and stock plans (3) 900 12,533 — — — 13,433 Purchase of capital stock (5 ) (156 ) — — — (161 ) Additions to noncontrolling interest — — — — 443 443 Cash dividends — — (49,268 ) — (315 ) (49,583 ) Total equity, March 31, 2019 $ 102,958 $ 524,442 $ 1,031,361 $ (333,640 ) $ 40,284 $ 1,365,405 (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	9 Months Ended
	Mar. 31, 2020
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 nine months ended March 31, 2020 : (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 income (loss) before reclassifications 2,123 (44,855 ) (144 ) (42,876 ) Amounts reclassified from AOCL 5,916 — 306 6,222 Net current period other comprehensive income (loss) 8,039 (44,855 ) 162 (36,654 ) AOCL, March 31, 2020 $ (214,231 ) $ (192,450 ) $ (3,516 ) $ (410,197 ) Attributable to noncontrolling interests: Balance, June 30, 2019 $ — $ (3,450 ) $ — $ (3,450 ) Other comprehensive loss before reclassifications — (2,836 ) — (2,836 ) Net current period other comprehensive loss — (2,836 ) — (2,836 ) AOCL, March 31, 2020 $ — $ (6,286 ) $ — $ (6,286 ) The components of, and changes in, AOCL were as follows, net of tax, for the nine months ended March 31, 2019 : (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 1,246 (20,147 ) 141 (18,760 ) Amounts reclassified from AOCL 3,893 — 1,552 5,445 Net current period other comprehensive income (loss) 5,139 (20,147 ) 1,693 (13,315 ) AOCL, March 31, 2019 $ (182,616 ) $ (147,494 ) $ (3,530 ) $ (333,640 ) Attributable to noncontrolling interests: Balance, June 30, 2018 $ — $ (2,913 ) $ — $ (2,913 ) Other comprehensive loss before reclassifications — (698 ) — (698 ) Net current period other comprehensive loss — (698 ) — (698 ) AOCL, March 31, 2019 $ — $ (3,611 ) $ — $ (3,611 ) Reclassifications out of AOCL for the three and nine months ended March 31, 2020 and 2019 consisted of the following: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2020 2019 2020 2019 Affected line item in the Income Statement Gains and losses on cash flow hedges: Forward starting interest rate swaps $ 611 $ 588 $ 1,833 $ 1,764 Interest expense Currency exchange contracts 75 333 (1,428 ) 292 Cost of goods sold and other income, net Total before tax 686 921 405 2,056 Tax impact (168 ) (226 ) (99 ) (504 ) Provision (benefit) for income taxes Net of tax $ 518 $ 695 $ 306 $ 1,552 Pension and other postretirement benefits: Amortization of transition obligations $ 23 $ 23 $ 67 $ 68 Other income, net Amortization of prior service credit (56 ) (27 ) (169 ) (83 ) Other income, net Recognition of actuarial losses 2,661 1,744 7,970 5,242 Other income, net Total before tax 2,628 1,740 7,868 5,227 Tax impact (662 ) (453 ) (1,952 ) (1,334 ) Provision (benefit) for income taxes Net of tax $ 1,966 $ 1,287 $ 5,916 $ 3,893 The amount of income tax allocated to each component of other comprehensive (loss) income for the three months ended March 31, 2020 and 2019 were as follows: 2020 2019 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Unrealized (loss) gain on derivatives designated and qualified as cash flow hedges $ (1,325 ) $ 325 $ (1,000 ) $ 307 $ (75 ) $ 232 Reclassification of unrealized loss on derivatives designated and qualified as cash flow hedges 686 (168 ) 518 921 (226 ) 695 Unrecognized net pension and other postretirement benefit gain 3,295 (722 ) 2,573 172 (121 ) 51 Reclassification of net pension and other postretirement benefit loss 2,628 (662 ) 1,966 1,740 (453 ) 1,287 Foreign currency translation adjustments (38,103 ) 85 (38,018 ) (1,327 ) 88 (1,239 ) Other comprehensive (loss) income $ (32,819 ) $ (1,142 ) $ (33,961 ) $ 1,813 $ (787 ) $ 1,026 The amount of income tax allocated to each component of other comprehensive loss for the nine months ended March 31, 2020 and 2019 were as follows: 2020 2019 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Unrealized (loss) gain on derivatives designated and qualified as cash flow hedges $ (191 ) $ 47 $ (144 ) $ 187 $ (46 ) $ 141 Reclassification of unrealized loss on derivatives designated and qualified as cash flow hedges 405 (99 ) 306 2,056 (504 ) 1,552 Unrecognized net pension and other postretirement benefit gain 2,876 (753 ) 2,123 1,723 (477 ) 1,246 Reclassification of net pension and other postretirement benefit loss 7,868 (1,952 ) 5,916 5,227 (1,334 ) 3,893 Foreign currency translation adjustments (47,809 ) 118 (47,691 ) (21,007 ) 162 (20,845 ) Other comprehensive loss $ (36,851 ) $ (2,639 ) $ (39,490 ) $ (11,814 ) $ (2,199 ) $ (14,013 )

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS 2020 December Quarter Widia Impairment Charges 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. 2020 March Quarter Widia Impairment Charges We performed an interim quantitative impairment test of goodwill and the indefinite-lived trademark intangible asset for the Widia reporting unit during the March quarter of fiscal 2020. The decline in actual and projected financial results for the Widia reporting unit, primarily as a result of the COVID-19 pandemic, represented an interim impairment triggering event because there was essentially zero cushion between the reporting unit's carrying value and fair value as of March 31 2020. This is because the Widia reporting unit was recorded at fair value as of the last impairment date of December 31, 2019. 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 interim test, we recorded a non-cash pre-tax impairment charge during the three months ended March 31, 2020 of $15.6 million in the Widia segment, of which $13.7 million was for goodwill and $1.9 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. Subsequent to the impairment charges recorded in the March quarter of fiscal 2020, there is no remaining goodwill for the Widia reporting unit and the carrying value of the indefinite-lived trademark is $10.9 million , which approximates fair value. Additionally, due to the significant cushion that existed between the fair value and the carrying value of the Industrial reporting unit, as measured on the last annual testing date, we determined that there was not an interim triggering event for this reporting unit during the third quarter of fiscal 2020. Certain events or circumstances that could reasonably be expected to negatively affect the underlying key assumptions and ultimately impact the estimated fair values of our reporting units and of the indefinite-lived trademark may include such items as: (i) a decrease in expected future cash flows, specifically, a further decrease in sales volume driven by a prolonged weakness in customer demand or other pressures, including those related to the COVID-19 pandemic, adversely affecting our long-term sales trends; (ii) inability to achieve the anticipated benefits from simplification/modernization and other cost reduction programs and (iii) inability to achieve the sales from our strategic growth initiatives. 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 nine months ended March 31, 2020: Change in gross goodwill due to translation (4,050 ) (484 ) — (4,534 ) Impairment charges — (26,819 ) — (26,819 ) Gross goodwill 405,862 40,457 633,211 1,079,530 Accumulated impairment losses (137,204 ) (40,457 ) (633,211 ) (810,872 ) Balance as of March 31, 2020 $ 268,658 $ — $ — $ 268,658 The components of our other intangible assets were as follows: Estimated Useful Life (in years) March 31, 2020 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 32,499 (22,162 ) 46,228 (31,890 ) Customer-related 10 to 21 180,955 (85,421 ) 205,213 (94,711 ) Unpatented technology 10 to 30 31,576 (17,271 ) 31,702 (15,492 ) Trademarks 5 to 20 13,036 (8,452 ) 14,755 (9,352 ) Trademarks Indefinite 10,927 — 14,545 — Total $ 268,993 $ (133,306 ) $ 319,505 $ (158,507 )

Segment Data

Segment Data	9 Months Ended
	Mar. 31, 2020
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 allocating resources, 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, strategic initiatives, and 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 income (loss) by segment are as follows: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2020 2019 2020 2019 Sales: Industrial $ 260,738 $ 318,636 $ 820,008 $ 956,515 Widia 42,721 50,966 131,115 148,592 Infrastructure 179,625 227,602 555,129 666,178 Total sales $ 483,084 $ 597,204 $ 1,506,252 $ 1,771,285 Operating income (loss): Industrial $ 30,147 $ 57,218 $ 32,159 $ 173,279 Widia (13,528 ) (4 ) (31,410 ) 3,817 Infrastructure 21,941 24,934 7,679 69,407 Corporate (667 ) (277 ) (1,797 ) (2,622 ) Total operating income 37,893 81,871 6,631 243,881 Interest expense 7,897 8,104 23,834 24,305 Other income, net (2,438 ) (4,993 ) (9,330 ) (11,775 ) Income (loss) from continuing operations before income taxes $ 32,434 $ 78,760 $ (7,873 ) $ 231,351 The following table presents Kennametal's revenue disaggregated by geography: Three Months Ended March 31, 2020 March 31, 2019 (in thousands) Industrial Widia Infrastructure Total Kennametal Industrial Widia Infrastructure Total Kennametal Americas 41% 49% 64% 50% 40% 46% 67% 51% EMEA 39 26 18 30 41 26 16 30 Asia Pacific 20 25 18 20 19 28 17 19 Nine Months Ended March 31, 2020 March 31, 2019 (in thousands) Industrial Widia Infrastructure Total Kennametal Industrial Widia Infrastructure Total Kennametal Americas 41% 48% 62% 50% 40% 46% 66% 50% EMEA 39 26 18 30 40 25 15 30 Asia Pacific 20 26 20 20 20 29 19 20 The following tables presents Kennametal's revenue disaggregated by end market: Three Months Ended March 31, 2020 (in thousands) Industrial Widia Infrastructure Total Kennametal General engineering 44% 100% 35% 46% Transportation 33 — — 18 Aerospace 13 — — 7 Energy 10 — 29 16 Earthworks — — 36 13 Three Months Ended March 31, 2019 (in thousands) Industrial Widia Infrastructure Total Kennametal General engineering 45% 100% 36% 46% Transportation 33 — — 18 Aerospace 13 — — 7 Energy 9 — 33 17 Earthworks — — 31 12 Nine Months Ended March 31, 2020 (in thousands) Industrial Widia Infrastructure Total Kennametal General engineering 44% 100% 34% 45% Transportation 33 — — 18 Aerospace 14 — — 8 Energy 9 — 29 16 Earthworks — — 37 13 Nine Months Ended March 31, 2019 (in thousands) Industrial Widia Infrastructure Total Kennametal General engineering 44% 100% 34% 45% Transportation 34 — — 18 Aerospace 13 — — 7 Energy 9 — 34 18 Earthworks — — 32 12

Supplemental Cash Flow Disclo_2

Supplemental Cash Flow Disclosures (Tables)	9 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Disclosures	Nine Months Ended March 31, (in thousands) 2020 2019 Cash paid during the period for: Income taxes $ 31,523 $ 38,208 Interest 20,783 23,175 Supplemental disclosure of non-cash information: Changes in accounts payable related to purchases of property, plant and equipment (16,000 ) 2,400

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Financial instruments at fair value on recurring basis	As of March 31, 2020 , 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) $ — $ 289 $ — $ 289 Total assets at fair value $ — $ 289 $ — $ 289 Liabilities: Derivatives (1) $ — $ 1,878 $ — $ 1,878 Total liabilities at fair value $ — $ 1,878 $ — $ 1,878 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 and interest rate 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)	9 Months Ended
	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of derivatives	The fair value of derivatives designated and not designated as hedging instruments in the condensed consolidated balance sheet are as follows: (in thousands) March 31, 2020 June 30, Derivatives designated as hedging instruments Other current assets - range forward contracts $ 170 $ 145 Other assets - forward starting interest rate swap contracts 89 — Other liabilities - forward starting interest rate swap contracts (1,614 ) — Total derivatives designated as hedging instruments (1,355 ) 145 Derivatives not designated as hedging instruments Other current assets - currency forward contracts 30 8 Other current liabilities - currency forward contracts (264 ) (56 ) Total derivatives not designated as hedging instruments (234 ) (48 ) Total derivatives $ (1,589 ) $ 97
(Gains) losses related to derivatives not designated as hedging instruments	Losses (gains) related to derivatives not designated as hedging instruments have been recognized as follows: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2020 2019 2020 2019 Other income, net - currency forward contracts $ 220 $ (11 ) $ 231 $ 65
Gains and losses related to cash flow hedges	The following represents gains and losses related to cash flow hedges: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2020 2019 2020 2019 (Losses) gains recognized in other comprehensive (loss) income, net $ (999 ) $ 695 $ (143 ) $ 603 Losses reclassified from accumulated other comprehensive loss into cost of goods sold and other income, net $ 457 $ 403 $ 1,007 $ 1,500
Net investment hedges	As of March 31, 2020 , 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 € 28,727 $ 31,517 June 26, 2022 Foreign currency-denominated intercompany loan payable 20,091 22,043 November 22, 2021 (2) Includes principal and accrued interest.

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost	As of March 31, 2020 , $24.7 million and $16.2 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 March 31, 2020 Industrial Severance $ 8,863 $ 49,455 $ — $ (780 ) $ (25,413 ) $ 32,125 Facilities — 1,857 (1,857 ) — — — Other 35 4 — (1 ) (22 ) 16 Total Industrial $ 8,898 $ 51,316 $ (1,857 ) $ (781 ) $ (25,435 ) $ 32,141 Widia Severance $ 2,306 $ 342 $ — $ (28 ) $ (321 ) $ 2,299 Facilities — 41 (41 ) — — — Other 24 — — — — 24 Total Widia $ 2,330 $ 383 $ (41 ) $ (28 ) $ (321 ) $ 2,323 Infrastructure Severance $ 7,956 $ 2,053 $ — $ (313 ) $ (3,225 ) $ 6,471 Facilities — 758 (758 ) — — — Other 28 2 — (1 ) (5 ) 24 Total Infrastructure $ 7,984 $ 2,813 $ (758 ) $ (314 ) $ (3,230 ) $ 6,495 Total $ 19,212 $ 54,512 $ (2,656 ) $ (1,123 ) $ (28,986 ) $ 40,959

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Changes in stock options	Changes in our stock options for the nine months ended March 31, 2020 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, March 31, 2020 704,604 $ 33.71 2.8 $ — Options vested, March 31, 2020 704,604 $ 33.71 2.8 $ — Options exercisable, March 31, 2020 704,604 $ 33.71 2.8 $ —
Changes in time vesting and performance vesting restricted stock units	Changes in our performance vesting and time vesting restricted stock units for the nine months ended March 31, 2020 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 28.74 633,902 27.95 Vested (146,377 ) 27.09 (459,783 ) 33.93 Performance metric adjustments, net 32,707 32.79 — — Forfeited (12,143 ) 35.51 (43,776 ) 32.40 Unvested, March 31, 2020 554,633 $ 34.26 1,057,270 $ 32.60

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	9 Months Ended
	Mar. 31, 2020
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic pension (income)	The table below summarizes the components of net periodic pension income: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2020 2019 2020 2019 Service cost $ 452 $ 406 $ 1,346 $ 1,224 Interest cost 6,848 7,979 20,504 23,939 Expected return on plan assets (13,539 ) (13,456 ) (40,491 ) (40,352 ) Amortization of transition obligation 23 23 67 68 Amortization of prior service cost (credit) 13 (5 ) 38 (15 ) Recognition of actuarial losses 2,597 1,682 7,777 5,056 Settlement gain — — (122 ) — Net periodic pension income $ (3,606 ) $ (3,371 ) $ (10,881 ) $ (10,080 )
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 March 31, Nine Months Ended March 31, (in thousands) 2020 2019 2020 2019 Interest cost $ 101 $ 153 $ 303 $ 460 Amortization of prior service credit (69 ) (22 ) (207 ) (68 ) Recognition of actuarial loss 64 62 193 186 Net periodic other postretirement benefit cost $ 96 $ 193 $ 289 $ 578

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: (in thousands) March 31, 2020 June 30, 2019 Finished goods $ 293,990 $ 311,684 Work in process and powder blends 197,991 246,414 Raw materials 89,435 95,620 Inventories at current cost 581,416 653,718 Less: LIFO valuation (64,635 ) (82,142 ) Total inventories $ 516,781 $ 571,576

Leases Leases (Tables)

Leases Leases (Tables)	9 Months Ended
	Mar. 31, 2020
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) Nine Months Ended March 31, 2020 Operating cash flows from operating leases $ 12,181 ROU assets obtained in exchange for new operating lease liabilities $ 7,064
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 March 31, 2020 : Year Ended June 30, March 31, 2020 Remaining three months of 2020 $ 3,695 2021 12,989 2022 9,225 2023 6,083 2024 4,089 Thereafter 18,880 Total undiscounted operating lease payments $ 54,961 Less: discount to net present value 7,736 Total operating lease liabilities $ 47,225

Earnings Per Share (Tables) (Ta

Earnings Per Share (Tables) (Tables)	9 Months Ended
	Mar. 31, 2020
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 and nine months ended March 31, 2020 and 2019: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2020 2019 2020 2019 Weighted-average shares outstanding during period 83,106 82,479 83,022 82,305 Add: Unexercised stock options and unvested restricted stock units 590 860 567 961 Number of shares on which diluted earnings per share is calculated 83,696 83,339 83,589 83,266 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 646 515 833 423

Equity (Tables)

Equity (Tables)	9 Months Ended
	Mar. 31, 2020
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 March 31, 2020 and 2019 is as follows: Kennametal Shareholders’ Equity (in thousands) Capital Additional Retained Accumulated Non- Total equity Balance as of December 31, 2019 $ 103,618 $ 536,522 $ 1,044,247 $ (378,219 ) $ 40,859 $ 1,347,027 Net income (loss) — — 2,917 — (676 ) 2,241 Other comprehensive loss — — — (31,978 ) (1,983 ) (33,961 ) Dividend reinvestment 2 50 — — — 52 Capital stock issued under employee benefit and stock plans (3) 24 74 — — — 98 Purchase of capital stock (2 ) (50 ) — — — (52 ) Cash dividends — — (16,582 ) — (16,582 ) Total equity, March 31, 2020 $ 103,642 $ 536,596 $ 1,030,582 $ (410,197 ) $ 38,200 $ 1,298,823 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 December 31, 2018 $ 102,700 $ 522,413 $ 979,259 $ (334,632 ) $ 38,544 $ 1,308,284 Net income — — 68,550 — 1,578 70,128 Other comprehensive income — — — 992 34 1,026 Dividend reinvestment 2 52 — — — 54 Capital stock issued under employee benefit and stock plans (3) 258 2,029 — — — 2,287 Purchase of capital stock (2 ) (52 ) — — — (54 ) Additions to noncontrolling interest — — — — 443 443 Cash dividends — — (16,448 ) — (315 ) (16,763 ) Total equity, March 31, 2019 $ 102,958 $ 524,442 $ 1,031,361 $ (333,640 ) $ 40,284 $ 1,365,405 A summary of the changes in the carrying amounts of total equity, Kennametal Shareholders’ equity and equity attributable to noncontrolling interests for the nine months ending March 31, 2020 and 2019 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 (loss) — — 3,445 — (23 ) 3,422 Other comprehensive loss — — — (36,654 ) (2,836 ) (39,490 ) Dividend reinvestment 6 151 — — — 157 Capital stock issued under employee benefit and stock plans (3) 616 7,769 — — — 8,385 Purchase of capital stock (6 ) (151 ) — — — (157 ) Additions to noncontrolling interest — — — — 1,527 1,527 Cash dividends — — (49,725 ) — — (49,725 ) Total equity, March 31, 2020 $ 103,642 $ 536,596 $ 1,030,582 $ (410,197 ) $ 38,200 $ 1,298,823 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 — — 179,946 — 4,852 184,798 Other comprehensive loss — — — (13,315 ) (698 ) (14,013 ) Dividend reinvestment 5 156 — — — 161 Capital stock issued under employee benefit and stock plans (3) 900 12,533 — — — 13,433 Purchase of capital stock (5 ) (156 ) — — — (161 ) Additions to noncontrolling interest — — — — 443 443 Cash dividends — — (49,268 ) — (315 ) (49,583 ) Total equity, March 31, 2019 $ 102,958 $ 524,442 $ 1,031,361 $ (333,640 ) $ 40,284 $ 1,365,405 (3) Net of restricted stock units delivered upon vesting to satisfy tax withholding requirements.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Mar. 31, 2020
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 nine months ended March 31, 2020 : (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 income (loss) before reclassifications 2,123 (44,855 ) (144 ) (42,876 ) Amounts reclassified from AOCL 5,916 — 306 6,222 Net current period other comprehensive income (loss) 8,039 (44,855 ) 162 (36,654 ) AOCL, March 31, 2020 $ (214,231 ) $ (192,450 ) $ (3,516 ) $ (410,197 ) Attributable to noncontrolling interests: Balance, June 30, 2019 $ — $ (3,450 ) $ — $ (3,450 ) Other comprehensive loss before reclassifications — (2,836 ) — (2,836 ) Net current period other comprehensive loss — (2,836 ) — (2,836 ) AOCL, March 31, 2020 $ — $ (6,286 ) $ — $ (6,286 ) The components of, and changes in, AOCL were as follows, net of tax, for the nine months ended March 31, 2019 : (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 1,246 (20,147 ) 141 (18,760 ) Amounts reclassified from AOCL 3,893 — 1,552 5,445 Net current period other comprehensive income (loss) 5,139 (20,147 ) 1,693 (13,315 ) AOCL, March 31, 2019 $ (182,616 ) $ (147,494 ) $ (3,530 ) $ (333,640 ) Attributable to noncontrolling interests: Balance, June 30, 2018 $ — $ (2,913 ) $ — $ (2,913 ) Other comprehensive loss before reclassifications — (698 ) — (698 ) Net current period other comprehensive loss — (698 ) — (698 ) AOCL, March 31, 2019 $ — $ (3,611 ) $ — $ (3,611 )
Reclassification out of Accumulated Other Comprehensive Loss	Reclassifications out of AOCL for the three and nine months ended March 31, 2020 and 2019 consisted of the following: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2020 2019 2020 2019 Affected line item in the Income Statement Gains and losses on cash flow hedges: Forward starting interest rate swaps $ 611 $ 588 $ 1,833 $ 1,764 Interest expense Currency exchange contracts 75 333 (1,428 ) 292 Cost of goods sold and other income, net Total before tax 686 921 405 2,056 Tax impact (168 ) (226 ) (99 ) (504 ) Provision (benefit) for income taxes Net of tax $ 518 $ 695 $ 306 $ 1,552 Pension and other postretirement benefits: Amortization of transition obligations $ 23 $ 23 $ 67 $ 68 Other income, net Amortization of prior service credit (56 ) (27 ) (169 ) (83 ) Other income, net Recognition of actuarial losses 2,661 1,744 7,970 5,242 Other income, net Total before tax 2,628 1,740 7,868 5,227 Tax impact (662 ) (453 ) (1,952 ) (1,334 ) Provision (benefit) for income taxes Net of tax $ 1,966 $ 1,287 $ 5,916 $ 3,893
Income Tax Allocated to Each Component of Other Comprehensive Income [Table Text Block]	The amount of income tax allocated to each component of other comprehensive (loss) income for the three months ended March 31, 2020 and 2019 were as follows: 2020 2019 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Unrealized (loss) gain on derivatives designated and qualified as cash flow hedges $ (1,325 ) $ 325 $ (1,000 ) $ 307 $ (75 ) $ 232 Reclassification of unrealized loss on derivatives designated and qualified as cash flow hedges 686 (168 ) 518 921 (226 ) 695 Unrecognized net pension and other postretirement benefit gain 3,295 (722 ) 2,573 172 (121 ) 51 Reclassification of net pension and other postretirement benefit loss 2,628 (662 ) 1,966 1,740 (453 ) 1,287 Foreign currency translation adjustments (38,103 ) 85 (38,018 ) (1,327 ) 88 (1,239 ) Other comprehensive (loss) income $ (32,819 ) $ (1,142 ) $ (33,961 ) $ 1,813 $ (787 ) $ 1,026 The amount of income tax allocated to each component of other comprehensive loss for the nine months ended March 31, 2020 and 2019 were as follows: 2020 2019 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Unrealized (loss) gain on derivatives designated and qualified as cash flow hedges $ (191 ) $ 47 $ (144 ) $ 187 $ (46 ) $ 141 Reclassification of unrealized loss on derivatives designated and qualified as cash flow hedges 405 (99 ) 306 2,056 (504 ) 1,552 Unrecognized net pension and other postretirement benefit gain 2,876 (753 ) 2,123 1,723 (477 ) 1,246 Reclassification of net pension and other postretirement benefit loss 7,868 (1,952 ) 5,916 5,227 (1,334 ) 3,893 Foreign currency translation adjustments (47,809 ) 118 (47,691 ) (21,007 ) 162 (20,845 ) Other comprehensive loss $ (36,851 ) $ (2,639 ) $ (39,490 ) $ (11,814 ) $ (2,199 ) $ (14,013 )

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Mar. 31, 2020
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 nine months ended March 31, 2020: Change in gross goodwill due to translation (4,050 ) (484 ) — (4,534 ) Impairment charges — (26,819 ) — (26,819 ) Gross goodwill 405,862 40,457 633,211 1,079,530 Accumulated impairment losses (137,204 ) (40,457 ) (633,211 ) (810,872 ) Balance as of March 31, 2020 $ 268,658 $ — $ — $ 268,658
The components of intangible assets	The components of our other intangible assets were as follows: Estimated Useful Life (in years) March 31, 2020 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 32,499 (22,162 ) 46,228 (31,890 ) Customer-related 10 to 21 180,955 (85,421 ) 205,213 (94,711 ) Unpatented technology 10 to 30 31,576 (17,271 ) 31,702 (15,492 ) Trademarks 5 to 20 13,036 (8,452 ) 14,755 (9,352 ) Trademarks Indefinite 10,927 — 14,545 — Total $ 268,993 $ (133,306 ) $ 319,505 $ (158,507 )

Segment Data (Tables)

Segment Data (Tables)	9 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents Kennametal's revenue disaggregated by geography: Three Months Ended March 31, 2020 March 31, 2019 (in thousands) Industrial Widia Infrastructure Total Kennametal Industrial Widia Infrastructure Total Kennametal Americas 41% 49% 64% 50% 40% 46% 67% 51% EMEA 39 26 18 30 41 26 16 30 Asia Pacific 20 25 18 20 19 28 17 19 Nine Months Ended March 31, 2020 March 31, 2019 (in thousands) Industrial Widia Infrastructure Total Kennametal Industrial Widia Infrastructure Total Kennametal Americas 41% 48% 62% 50% 40% 46% 66% 50% EMEA 39 26 18 30 40 25 15 30 Asia Pacific 20 26 20 20 20 29 19 20 The following tables presents Kennametal's revenue disaggregated by end market: Three Months Ended March 31, 2020 (in thousands) Industrial Widia Infrastructure Total Kennametal General engineering 44% 100% 35% 46% Transportation 33 — — 18 Aerospace 13 — — 7 Energy 10 — 29 16 Earthworks — — 36 13 Three Months Ended March 31, 2019 (in thousands) Industrial Widia Infrastructure Total Kennametal General engineering 45% 100% 36% 46% Transportation 33 — — 18 Aerospace 13 — — 7 Energy 9 — 33 17 Earthworks — — 31 12 Nine Months Ended March 31, 2020 (in thousands) Industrial Widia Infrastructure Total Kennametal General engineering 44% 100% 34% 45% Transportation 33 — — 18 Aerospace 14 — — 8 Energy 9 — 29 16 Earthworks — — 37 13 Nine Months Ended March 31, 2019 (in thousands) Industrial Widia Infrastructure Total Kennametal General engineering 44% 100% 34% 45% Transportation 34 — — 18 Aerospace 13 — — 7 Energy 9 — 34 18 Earthworks — — 32 12
Sales and operating income (loss) by segment and segment assets	Our sales and operating income (loss) by segment are as follows: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2020 2019 2020 2019 Sales: Industrial $ 260,738 $ 318,636 $ 820,008 $ 956,515 Widia 42,721 50,966 131,115 148,592 Infrastructure 179,625 227,602 555,129 666,178 Total sales $ 483,084 $ 597,204 $ 1,506,252 $ 1,771,285 Operating income (loss): Industrial $ 30,147 $ 57,218 $ 32,159 $ 173,279 Widia (13,528 ) (4 ) (31,410 ) 3,817 Infrastructure 21,941 24,934 7,679 69,407 Corporate (667 ) (277 ) (1,797 ) (2,622 ) Total operating income 37,893 81,871 6,631 243,881 Interest expense 7,897 8,104 23,834 24,305 Other income, net (2,438 ) (4,993 ) (9,330 ) (11,775 ) Income (loss) from continuing operations before income taxes $ 32,434 $ 78,760 $ (7,873 ) $ 231,351

New Accounting Standards New Ac

New Accounting Standards New Accounting Standards - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jul. 01, 2019	Jun. 30, 2019
New Accounting Standards [Abstract]
Operating Lease, Liability	$ 47,225	$ 49,000
Operating lease right-of-use assets (Note 11)	$ 46,747	$ 49,000	$ 0

Supplemental Cash Flow Disclo_3

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Interest	$ 20,783	$ 23,175
Income taxes	31,523	38,208
Change in accounts payable related to property, plant, and equipment	$ (16,000)	$ 2,400

Divestiture (Details)

Divestiture (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
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)	$ 0	$ (6,500)	$ 0	$ (6,517)	$ 0

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets	$ 289	$ 152
Total assets at fair value	289	152
Derivatives Liabilities	1,878	55
Total liabilities at fair value	1,878	55
Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets	289	152
Total assets at fair value	289	152
Derivatives Liabilities	1,878	55
Total liabilities at fair value	$ 1,878	$ 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	Mar. 31, 2020	Jun. 30, 2019
Fair value of derivatives
Derivative, Fair Value, Net	$ (1,589)	$ 97
Designated as Hedging Instrument [Member]
Fair value of derivatives
Derivative, Fair Value, Net	(1,355)	145
Not Designated as Hedging Instrument [Member]
Fair value of derivatives
Derivative, Fair Value, Net	(234)	(48)
Range Forward Contracts [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Fair value of derivatives
Derivative assets designated as hedging instruments	170	145
Forward Starting Interest Rate Swap Contracts [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member]
Fair value of derivatives
Derivative assets designated as hedging instruments	89	0
Forward Starting Interest Rate Swap Contracts [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member]
Fair value of derivatives
Derivative liabilities designated as hedging instruments	(1,614)	0
Currency Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Fair value of derivatives
Derivative assets designated as hedging instruments	30	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	$ (264)	$ (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		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Gains and losses related to cash flow hedges
(Losses) gains recognized in other comprehensive (loss) income, net	$ (1,325)	$ 307	$ (191)	$ 187
Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax	1,100	2,300	1,000	2,800
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	220	(11)	231	65
Range Forward Contracts [Member] | Cash flow hedging [Member]
Gains and losses related to cash flow hedges
(Losses) gains recognized in other comprehensive (loss) income, net	(999)	695	(143)	603
Losses reclassified from accumulated other comprehensive loss into cost of goods sold and other income, net	$ 457	$ 403	$ 1,007	$ 1,500

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities (Details Textual) € in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2020EUR (€)	Mar. 31, 2020USD ($)	Jun. 30, 2019USD ($)
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
Range Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount						12,100	$ 61,500
Net Investment Hedge Maturing on June 26, 2022 [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount					€ 28,727	31,517
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					€ 20,091	22,043
Forward Starting Interest Rate Swap Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount						200,000
Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax	$ 1,100	$ 2,300	$ 1,000	$ 2,800
Designated as Hedging Instrument [Member] | Other Assets [Member] | Forward Starting Interest Rate Swap Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset						89	0
Designated as Hedging Instrument [Member] | Other Liabilities [Member] | Forward Starting Interest Rate Swap Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability						$ 1,614	$ 0

Restructuring and Related Cha_2

Restructuring and Related Charges - Restructuring Accrual (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Restructuring Reserve [Abstract]
Beginning Balance			$ 19,212
Restructuring Charges	$ 1,800	$ 2,600	54,512	$ 5,300
Asset Write-Down			(2,656)
Translation			(1,123)
Cash Expenditures			(28,986)
Ending Balance	40,959		40,959
Industrial [Member]
Restructuring Reserve [Abstract]
Beginning Balance			8,898
Restructuring Charges			51,316
Asset Write-Down			(1,857)
Translation			(781)
Cash Expenditures			(25,435)
Ending Balance	32,141		32,141
Industrial [Member] | Severance [Member]
Restructuring Reserve [Abstract]
Beginning Balance			8,863
Restructuring Charges			49,455
Asset Write-Down			0
Translation			(780)
Cash Expenditures			(25,413)
Ending Balance	32,125		32,125
Industrial [Member] | Facilities [Member]
Restructuring Reserve [Abstract]
Beginning Balance			0
Restructuring Charges			1,857
Asset Write-Down			(1,857)
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			(1)
Cash Expenditures			(22)
Ending Balance	16		16
WIDIA [Member]
Restructuring Reserve [Abstract]
Beginning Balance			2,330
Restructuring Charges			383
Asset Write-Down			(41)
Translation			(28)
Cash Expenditures			(321)
Ending Balance	2,323		2,323
WIDIA [Member] | Severance [Member]
Restructuring Reserve [Abstract]
Beginning Balance			2,306
Restructuring Charges			342
Asset Write-Down			0
Translation			(28)
Cash Expenditures			(321)
Ending Balance	2,299		2,299
WIDIA [Member] | Facilities [Member]
Restructuring Reserve [Abstract]
Beginning Balance			0
Restructuring Charges			41
Asset Write-Down			(41)
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			2,813
Asset Write-Down			(758)
Translation			(314)
Cash Expenditures			(3,230)
Ending Balance	6,495		6,495
Infrastructure [Member] | Severance [Member]
Restructuring Reserve [Abstract]
Beginning Balance			7,956
Restructuring Charges			2,053
Asset Write-Down			0
Translation			(313)
Cash Expenditures			(3,225)
Ending Balance	6,471		6,471
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			(5)
Ending Balance	$ 24		$ 24

Restructuring and Related Cha_3

Restructuring and Related Charges - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 40,959,000		$ 40,959,000		$ 19,212,000
Restructuring and Related Cost, Incurred Cost	5,800,000	$ 3,700,000	65,100,000	$ 6,800,000
Restructuring Charges	1,800,000	2,600,000	54,512,000	5,300,000
Restructuring Charges Related to Inventory Disposals	200,000		600,000	200,000
Industrial [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	32,141,000		32,141,000		8,898,000
Restructuring Charges			51,316,000
Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	6,495,000		6,495,000		7,984,000
Restructuring Charges			2,813,000
WIDIA [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	2,323,000		2,323,000		2,330,000
Restructuring Charges			383,000
FY20 Restructuring Actions [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	50,000,000		50,000,000
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	60,000,000		60,000,000
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	40,600,000		40,600,000
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	7,200,000		7,200,000
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	28,800,000		28,800,000
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	4,000,000	900,000	10,600,000	1,400,000
Operating Expense [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Related Charges Recorded in Cost of Goods Sold or Operating Expense		$ 100,000		$ 100,000
Other Restructuring [Member] | Industrial [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	16,000		16,000		35,000
Restructuring Charges			4,000
Other Restructuring [Member] | Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	24,000		24,000		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	24,700,000		24,700,000
Other Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 16,200,000		$ 16,200,000

Stock-Based Compensation - Chan

Stock-Based Compensation - Changes in Stock Options (Details)	9 Months Ended
	Mar. 31, 2020USD ($)$ / 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, March 31, 2020 | shares	704,604
Options vested and expected to vest, March 31, 2020 | shares	704,604
Options exercisable, March 31, 2020 | 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, March 31, 2020 | $ / shares	33.71
Weighted Average Exercise Price, Option vested and expected to vest, March 31, 2020 | $ / shares	33.71
Weighted Average Exercise Price, Options exercisable, March 31, 2020 | $ / shares	$ 33.71
Weighted Average Remaining Life, Options outstanding, March 31, 2020	2 years 9 months 18 days
Weighted Average Remaining Life, Options vested and expected to vest, March 31, 2020	2 years 9 months 18 days
Weighted Average Remaining Life, Options exercisable, March 31, 2020	2 years 9 months 18 days
Aggregate Intrinsic value, Options outstanding, March 31, 2020 | $	$ 0
Aggregate Intrinsic Value, Options vested and expected to vest, March 31, 2020 | $	0
Aggregate Intrinsic Value, Options exercisable, March 31, 2020 | $	$ 0

Stock-Based Compensation - Ch_2

Stock-Based Compensation - Changes in Restricted Stock Units (Details)	9 Months Ended
	Mar. 31, 2020$ / 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	(12,143)
Unvested restricted stock awards, March 31, 2020 | shares	554,633
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	35.51
Weighted Average Fair Value, Unvested restricted stock awards, March 31, 2020 | $ / shares	$ 34.26
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	633,902
Vested, Shares | shares	(459,783)
Performance metric adjustments, net, Shares | shares	0
Forfeited, Shares | shares	(43,776)
Unvested restricted stock awards, March 31, 2020 | shares	1,057,270
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	33.93
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	32.40
Weighted Average Fair Value, Unvested restricted stock awards, March 31, 2020 | $ / shares	$ 32.60

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Stock-Based Compensation (Textual) [Abstract]
Cash received from the exercise of capital stock option	$ 0.7	$ 4.2
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Excess Tax Benefit from Share-based Compensation, Operating Activities	0.2	1.3
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	1.9
Restricted Stock Units (RSUs) [Member]
Stock-Based Compensation (Textual) [Abstract]
Compensation expense related to time vesting and performance vesting restricted stock units	13.7	$ 18
Unrecognized compensation cost	$ 22.2
Unrecognized compensation costs, weighted average period	2 years

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		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Net periodic pension income
Service cost	$ 452	$ 406	$ 1,346	$ 1,224
Interest cost	6,848	7,979	20,504	23,939
Expected return on plan assets	(13,539)	(13,456)	(40,491)	(40,352)
Amortization of transition obligation	23	23	67	68
Amortization of prior service cost (credit)	13	(5)	38	(15)
Recognition of actuarial losses	2,597	1,682	7,777	5,056
Settlement gain	0	0	(122)	0
Net periodic pension income	$ (3,606)	$ (3,371)	$ (10,881)	$ (10,080)

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		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Net periodic other postretirement benefit costs
Interest cost	$ 101	$ 153	$ 303	$ 460
Amortization of prior service credit	(69)	(22)	(207)	(68)
Recognition of actuarial loss	64	62	193	186
Net periodic other postretirement benefit cost	$ 96	$ 193	$ 289	$ 578

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Inventories
Finished goods	$ 293,990	$ 311,684
Work in process and powder blends	197,991	246,414
Raw materials	89,435	95,620
Inventories at current cost	581,416	653,718
Less: LIFO valuation	(64,635)	(82,142)
Total inventories	$ 516,781	$ 571,576
Inventories (Textual) [Abstract]
Percentage of inventories valued by using LIFO method	43.00%	41.00%

Leases Leases (Details)

Leases Leases (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2020	Jul. 01, 2019	Jun. 30, 2019
Operating Leased Assets [Line Items]
Short-term Lease, Cost	$ 1,600	$ 5,800
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	3,695	3,695
Lessee, Operating Lease, Liability, Payments, Due Year Two	12,989	12,989
Lessee, Operating Lease, Liability, Payments, Due Year Three	9,225	9,225
Lessee, Operating Lease, Liability, Payments, Due Year Four	6,083	6,083
Lessee, Operating Lease, Liability, Payments, Due Year Five	4,089	4,089
Lessee, Operating Lease, Liability, Payments, Due after Year Five	$ 18,880	18,880
Operating Lease, Payments		12,181
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability		$ 7,064
Operating Lease, Weighted Average Remaining Lease Term	8 years 8 months 12 days	8 years 8 months 12 days
Operating Leases, Future Minimum Payments Due, Next Twelve Months				$ 17,074
Operating Leases, Future Minimum Payments, Due in Two Years				12,212
Operating Leases, Future Minimum Payments, Due in Three Years				6,693
Operating Leases, Future Minimum Payments, Due in Four Years				4,294
Operating Leases, Future Minimum Payments, Due in Five Years				2,636
Operating Leases, Future Minimum Payments, Due Thereafter				17,168
Operating Leases, Future Minimum Payments Due				$ 60,077
Operating Lease, Weighted Average Discount Rate, Percent	3.30%	3.30%
Lessee, Operating Lease, Liability, Payments, Due	$ 54,961	$ 54,961
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	7,736	7,736
Operating Lease, Liability	47,225	47,225	$ 49,000
Operating Expense [Member]
Operating Leased Assets [Line Items]
Operating Lease, Cost	$ 4,200	$ 12,300

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	Apr. 03, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 07, 2018
Long-Term Debt (Additional Textual) [Abstract]
Fixed rate at fair market value		$ 623,100,000	$ 622,000,000
2018 Credit Agreement [Member]
Long-Term Debt (Textual) [Abstract]
Borrowing outstanding under 2018 Credit Agreement		4,500,000	$ 0
Line of Credit Facility, Maximum Borrowing Capacity				$ 700,000,000
Subsequent Event [Member] | 2018 Credit Agreement [Member]
Long-Term Debt (Textual) [Abstract]
Borrowing outstanding under 2018 Credit Agreement	$ 500,000,000
Line of Credit [Member]
Long-Term Debt (Textual) [Abstract]
Net Debt to EBITDA Ratio, domestic cash allowed to net debt, amount, minimum		25,000,000
Long-Term Debt (Additional Textual) [Abstract]
Net Debt to EBITDA Ratio, Maximum		3.5
Net Debt to EBITDA Ratio, allowable adjustment for cash restructuring charges, amount		80,000,000
Consolidated Interest Coverage Ratio, Minimum		$ 3.5

Environmental Matters (Details)

Environmental Matters (Details) - USD ($) $ in Millions	Mar. 31, 2020	Jun. 30, 2019
Environmental Remediation Obligations [Abstract]
Reserves for Environmental Costs	$ 11.8	$ 12.4

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Income Taxes - Additional Information [Line Items]
Tax Cuts and Jobs Act, Incomplete Accounting, Transition Tax for Accumulated Foreign Earnings, Provisional Income Tax Expense		$ (6,800,000)
CARES Act, Period of Preceding Taxable Years for Net Operating Loss Carryback			$ 5
CARES Act, Percent of Taxable Income Permitted to be Offset by Net Operating Loss Carryovers and Carrybacks			1
Allowable business interest deduction, percent, before CARES Act	$ 0.30		0.30
Allowable business interest deduction, percent, after CARES Act	$ 0.50		$ 0.50
Income Tax (Textual) [Abstract]
Effective tax rate	93.10%	11.00%	143.50%	20.10%
Discrete Benefit for Swiss Tax Reform			$ (14,500,000)
Income Tax Charge (Benefit) to Adjust the Toll Tax Charge				$ (9,700,000)
Change in Permanent Reinvestment Assertion				$ 6,100,000

Earnings Per Shares (Details)

Earnings Per Shares (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted Average Number of Shares Outstanding, Basic	83,106	82,479	83,022	82,305
Earnings Per Share (Textual) [Abstract]
Increase in weighted average shares due to dilutive effect of unexercised capital stock options and unvested restricted stock units	590	860	567	961
Weighted Average Number of Shares Outstanding, Diluted	83,696	83,339	83,589	83,266
Unexercised capital stock options and restricted stock units excluded from computation of diluted EPS	646	515	833	423

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2017	Mar. 31, 2020	Mar. 31, 2019
Beginning Balance	$ 1,347,027	$ 1,308,284		$ 1,374,704	$ 1,230,327
Net income	2,241	70,128	$ 184,798	3,422	184,798
Other comprehensive income (loss)	(33,961)	1,026		(39,490)	(14,013)
Dividend reinvestment	52	54		157	161
Capital stock issued under employee benefit and stock plans	98	2,287		8,385	13,433
Purchase of capital stock	(52)	(54)		(157)	(161)
Additions to noncontrolling interest		443		1,527	443
Cash dividends	(16,582)	(16,763)		(49,725)	(49,583)
Ending Balance	1,298,823	1,365,405		1,298,823	1,365,405
Capital stock [Member]
Beginning Balance	103,618	102,700		103,026	102,058
Dividend reinvestment	2	2		6	5
Capital stock issued under employee benefit and stock plans	24	258		616	900
Purchase of capital stock	(2)	(2)		(6)	(5)
Ending Balance	103,642	102,958		103,642	102,958
Additional paid-in capital [Member]
Beginning Balance	536,522	522,413		528,827	511,909
Dividend reinvestment	50	52		151	156
Capital stock issued under employee benefit and stock plans	74	2,029		7,769	12,533
Purchase of capital stock	(50)	(52)		(151)	(156)
Ending Balance	536,596	524,442		536,596	524,442
Retained earnings [Member]
Beginning Balance	1,044,247	979,259		1,076,862	900,683
Net income	2,917	68,550		3,445	179,946
Cash dividends	(16,582)	(16,448)		(49,725)	(49,268)
Ending Balance	1,030,582	1,031,361		1,030,582	1,031,361
Accumulated other comprehensive loss [Member]
Beginning Balance	(378,219)	(334,632)		(373,543)	(320,325)
Other comprehensive income (loss)	(31,978)	992		(36,654)	(13,315)
Ending Balance	(410,197)	(333,640)		(410,197)	(333,640)
Non-controlling interest [Member]
Beginning Balance	40,859	38,544		39,532	36,002
Net income	(676)	1,578		(23)	4,852
Other comprehensive income (loss)	(1,983)	34		(2,836)	(698)
Additions to noncontrolling interest		443		1,527	443
Cash dividends	0	(315)		0	(315)
Ending Balance	$ 38,200	$ 40,284		$ 38,200	$ 40,284

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		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			$ (373,543)	$ (320,325)
Other comprehensive income (loss) before reclassifications			(42,876)	(18,760)
Amounts reclassified from accumulated other comprehensive loss			6,222	5,445
Net current period other comprehensive income (loss)			(36,654)	(13,315)
Accumulated Other Comprehensive Loss, Net of Tax	$ (410,197)	$ (333,640)	(410,197)	(333,640)
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 income (loss) before reclassifications			2,123	1,246
Amounts reclassified from accumulated other comprehensive loss			5,916	3,893
Net current period other comprehensive income (loss)			8,039	5,139
Accumulated Other Comprehensive Loss, Net of Tax	(214,231)	(182,616)	(214,231)	(182,616)
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 income (loss) before reclassifications			(44,855)	(20,147)
Amounts reclassified from accumulated other comprehensive loss			0	0
Net current period other comprehensive income (loss)			(44,855)	(20,147)
Accumulated Other Comprehensive Loss, Net of Tax	(192,450)	(147,494)	(192,450)	(147,494)
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 income (loss) before reclassifications			(144)	141
Amounts reclassified from accumulated other comprehensive loss			306	1,552
Net current period other comprehensive income (loss)			162	1,693
Accumulated Other Comprehensive Loss, Net of Tax	(3,516)	(3,530)	(3,516)	(3,530)
Noncontrolling Interest [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			(3,450)	(2,913)
Other comprehensive income (loss) before reclassifications			(2,836)	(698)
Net current period other comprehensive income (loss)			(2,836)	(698)
Accumulated Other Comprehensive Loss, Net of Tax	(6,286)	(3,611)	(6,286)	(3,611)
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	(2,628)	(1,740)	(7,868)	(5,227)
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	$ 686	$ 921	$ 405	$ 2,056

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Loss [Line Items]
Currency exchange contracts	$ 2,438	$ 4,993	$ 9,330	$ 11,775
Reclassification of unrealized loss on derivatives designated and qualified as cash flow hedges, tax	(168)	(226)	(99)	(504)
Recognition of actuarial losses	2,628	1,740	7,868	5,227
Provision (benefit) for income taxes	30,193	8,632	(11,295)	46,553
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 loss on derivatives designated and qualified as cash flow hedges, tax	(168)	(226)	(99)	(504)
Total before tax	(686)	(921)	(405)	(2,056)
Net of tax	518	695	306	1,552
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	23	23	67	68
Amortization of prior service credit	(56)	(27)	(169)	(83)
Recognition of actuarial losses	2,661	1,744	7,970	5,242
Total before tax	2,628	1,740	7,868	5,227
Provision (benefit) for income taxes	(662)	(453)	(1,952)	(1,334)
Net of tax	(1,966)	(1,287)	(5,916)	(3,893)
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	1,833	1,764
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	$ 75	$ 333	$ (1,428)	$ 292

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Loss Other Comprehensive Income - Income Tax Allocated to Each Component (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Other Comprehensive Income - Income Tax Allocated to Each Component [Abstract]
Unrealized (loss) gain on derivatives designated and qualified as cash flow hedges, before tax	$ (1,325)	$ 307	$ (191)	$ 187
Unrealized (loss) gain on derivatives designated and qualified as cash flow hedges, tax	325	(75)	47	(46)
Unrealized (loss) gain on derivatives designated and qualified as cash flow hedges, net of tax	(1,000)	232	(144)	141
Reclassification of unrealized loss on derivatives designated and qualified as cash flow hedges, before tax	686	921	405	2,056
Reclassification of unrealized loss on derivatives designated and qualified as cash flow hedges, tax	(168)	(226)	(99)	(504)
Reclassification of unrealized loss on derivatives designated and qualified as cash flow hedges, net of tax	518	695	306	1,552
Unrecognized net pension and other postretirement benefit gain, before tax	3,295	172	2,876	1,723
Unrecognized net pension and other postretirement benefit gain, tax	(722)	(121)	(753)	(477)
Unrecognized net pension and other postretirement benefit gain, net of tax	2,573	51	2,123	1,246
Reclassification of net pension and other postretirement benefit loss, before tax	2,628	1,740	7,868	5,227
Reclassification of net pension and other postretirement benefit loss, tax	(662)	(453)	(1,952)	(1,334)
Reclassification of net pension and other postretirement benefit loss	1,966	1,287	5,916	3,893
Foreign currency translation adjustments, before tax	(38,103)	(1,327)	(47,809)	(21,007)
Foreign currency translation adjustments, tax	85	88	118	162
Foreign currency translation adjustments, net of tax	(38,018)	(1,239)	(47,691)	(20,845)
Other comprehensive (loss) income, before tax	(32,819)	1,813	(36,851)	(11,814)
Other comprehensive (loss) income, tax	(1,142)	(787)	(2,639)	(2,199)
Other comprehensive (loss) income, net of tax	$ (33,961)	$ 1,026	$ (39,490)	$ (14,013)

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Carrying Amount of Goodwill Attributable to Each Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2020	Jun. 30, 2019
Goodwill [Line Items]
Goodwill and Intangible Asset Impairment	$ 15,600	$ 14,600
Goodwill [Roll Forward]
Gross goodwill	1,079,530		$ 1,079,530	$ 1,084,064
Accumulated impairment losses	(810,872)		(810,872)	(784,053)
Goodwill, Beginning Balance			300,011
Change in gross goodwill due to translation			(4,534)
Impairment charges			(26,819)
Goodwill, Ending Balance	268,658		268,658
Industrial [Member]
Goodwill [Roll Forward]
Gross goodwill	405,862		405,862	409,912
Accumulated impairment losses	(137,204)		(137,204)	(137,204)
Goodwill, Beginning Balance			272,708
Change in gross goodwill due to translation			(4,050)
Impairment charges			0
Goodwill, Ending Balance	268,658		268,658
Infrastructure [Member]
Goodwill [Roll Forward]
Gross goodwill	633,211		633,211	633,211
Accumulated impairment losses	(633,211)		(633,211)	(633,211)
Goodwill, Beginning Balance			0
Change in gross goodwill due to translation			0
Impairment charges			0
Goodwill, Ending Balance	0		0
WIDIA [Member]
Goodwill [Roll Forward]
Gross goodwill	40,457		40,457	40,941
Accumulated impairment losses	(40,457)		(40,457)	$ (13,638)
Goodwill, Beginning Balance			27,303
Change in gross goodwill due to translation			(484)
Impairment charges	(13,700)	$ (13,100)	26,819
Goodwill, Ending Balance	$ 0		$ 0

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Components of Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2020	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
The components of intangible assets
Accumulated amortization	$ (133,306)		(133,306)	$ (158,507)
Intangible Assets, Gross (Excluding Goodwill)	268,993		268,993	319,505
Trademarks [Member]
The components of intangible assets
Gross carrying amount, Indefinite	10,927		10,927	14,545
Contractual Rights [Member]
The components of intangible assets
Gross carrying amount, finite	0		0	7,062
Accumulated amortization	0		0	(7,062)
Technology-based and other [Member]
The components of intangible assets
Gross carrying amount, finite	32,499		32,499	46,228
Accumulated amortization	(22,162)		(22,162)	(31,890)
Customer-related [Member]
The components of intangible assets
Gross carrying amount, finite	180,955		180,955	205,213
Accumulated amortization	(85,421)		(85,421)	(94,711)
Unpatented technology [Member]
The components of intangible assets
Gross carrying amount, finite	31,576		31,576	31,702
Accumulated amortization	(17,271)		(17,271)	(15,492)
Trademarks [Member]
The components of intangible assets
Gross carrying amount, finite	13,036		13,036	14,755
Accumulated amortization	(8,452)		$ (8,452)	$ (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)	1,900	$ 1,500
WIDIA [Member] | Trademarks [Member]
The components of intangible assets
Gross carrying amount, Indefinite	$ 10,900		$ 10,900

Segment Data - Sales and Operat

Segment Data - Sales and Operating Income (Loss) by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2019
Segment Reporting Information [Line Items]
Assets	$ 2,538,100		$ 2,538,100		$ 2,656,269
External sales:
Sales	483,084	$ 597,204	1,506,252	$ 1,771,285
Operating income (loss):
Total operating income	(37,893)	(81,871)	(6,631)	(243,881)
Interest expense	7,897	8,104	23,834	24,305
Other income, net	(2,438)	(4,993)	(9,330)	(11,775)
Income (loss) from continuing operations before income taxes	32,434	78,760	(7,873)	231,351
Industrial [Member]
External sales:
Sales	260,738	318,636	820,008	956,515
Operating income (loss):
Total operating income	30,147	57,218	32,159	173,279
Infrastructure [Member]
External sales:
Sales	179,625	227,602	555,129	666,178
Operating income (loss):
Total operating income	21,941	24,934	7,679	69,407
WIDIA [Member]
External sales:
Sales	42,721	50,966	131,115	148,592
Operating income (loss):
Total operating income	(13,528)	(4)	(31,410)	3,817
Corporate [Member]
Operating income (loss):
Total operating income	$ (667)	$ (277)	$ (1,797)	$ (2,622)

Segment Data Disaggregation of

Segment Data Disaggregation of Revenue (Details)	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	46.00%	46.00%	45.00%	45.00%
Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	18.00%	18.00%	18.00%	18.00%
Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	7.00%	7.00%	8.00%	7.00%
Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	16.00%	17.00%	16.00%	18.00%
Earthworks [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	13.00%	12.00%	13.00%	12.00%
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	50.00%	51.00%	50.00%	50.00%
EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	30.00%	30.00%	30.00%	30.00%
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	20.00%	19.00%	20.00%	20.00%
Infrastructure [Member] | General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	35.00%	36.00%	34.00%	34.00%
Infrastructure [Member] | Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	29.00%	33.00%	29.00%	34.00%
Infrastructure [Member] | Earthworks [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	36.00%	31.00%	37.00%	32.00%
Infrastructure [Member] | Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	64.00%	67.00%	62.00%	66.00%
Infrastructure [Member] | EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	18.00%	16.00%	18.00%	15.00%
Infrastructure [Member] | Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	18.00%	17.00%	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	49.00%	46.00%	48.00%	46.00%
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	25.00%	28.00%	26.00%	29.00%
Industrial [Member] | General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	44.00%	45.00%	44.00%	44.00%
Industrial [Member] | Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	33.00%	33.00%	33.00%	34.00%
Industrial [Member] | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	13.00%	13.00%	14.00%	13.00%
Industrial [Member] | Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	10.00%	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	39.00%	41.00%	39.00%	40.00%
Industrial [Member] | Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	20.00%	19.00%	20.00%	20.00%