Kennametal (KMT) 10-Q 4 May 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
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)		82,638,419
Entity Central Index Key	0000055242
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2022
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

Basis of Presentation

Basis of Presentation	9 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATIONThe condensed consolidated financial statements and accompanying notes included in this Quarterly Report on Form 10-Q, which include our accounts and those of our subsidiaries in which we have a controlling interest, 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, 2021 (the “2021 Annual Report”). The condensed consolidated balance sheet as of June 30, 2021 was derived from the audited balance sheet included in our 2021 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, 2022 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 2022 is to the fiscal year ending June 30, 2022. 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.

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Sales	$ 512,259	$ 484,658	$ 1,482,441	$ 1,325,470
Cost of goods sold	347,639	334,483	1,004,116	948,693
Gross profit	164,620	150,175	478,325	376,777
Operating expense	107,075	108,113	316,423	299,211
Restructuring(benefits) charges and asset impairment charges (Note 6)	947	(822)	(2,323)	26,145
Gain on divestiture (Note 3)	0	0	(1,001)	0
Amortization of intangibles	3,234	3,362	9,751	10,043
Operating income	53,364	39,522	155,475	41,378
Interest expense	6,436	20,928	19,217	39,823
Other income, net	(4,528)	(2,692)	(11,129)	(10,568)
Provision for (benefit from) income taxes	14,578	(1,699)	40,031	(10,252)
Net income (loss)	36,878	22,985	107,356	22,375
Less: Net income (loss) attributable to noncontrolling interests	1,583	1,364	4,443	3,042
Net income (loss) attributable to Kennametal	$ 35,295	$ 21,621	$ 102,913	$ 19,333
PER SHARE DATA ATTRIBUTABLE TO KENNAMETAL SHAREHOLDERS
Basic earnings (loss) per share	$ 0.42	$ 0.26	$ 1.23	$ 0.23
Diluted earnings (loss) per share	0.42	0.26	1.22	0.23
Dividends per share	$ 0.20	$ 0.20	$ 0.60	$ 0.60
Basic weighted average shares outstanding	83,084	83,719	83,538	83,539
Diluted weighted average shares outstanding	83,807	84,588	84,268	84,184
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$ 51,456	$ 21,286	$ 147,387	$ 12,123
Noncontrolling Interest [Member]
Net income (loss)	$ 1,583	$ 1,364	$ 4,443	$ 3,042

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Net income (loss)	$ 36,878	$ 22,985	$ 107,356	$ 22,375
Other comprehensive income (loss), net of tax [Abstract]
Unrecognized net pension and other postretirement benefit gain (loss)	1,511	2,032	4,291	(5,489)
Reclassification of net pension and other postretirement benefit loss	2,185	2,579	6,601	7,758
Foreign currency translation adjustments	(8,068)	(25,536)	(34,626)	49,012
Total other comprehensive income (loss), net of tax	(4,564)	(17,302)	(24,311)	60,343
Total comprehensive income	32,314	5,683	83,045	82,718
Less: comprehensive income (loss) attributable to noncontrolling interests	1,127	634	3,080	4,947
Comprehensive income (loss) attributable to Kennametal Shareholders	31,187	5,049	79,965	77,771
Accumulated Other Comprehensive (Loss) Income [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	63	(4,216)	189	(4,523)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	(192)	(1,148)	(577)	(210)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	0	4,771	0	9,272
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]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	$ 63	$ (4,216)	$ 189	$ (4,523)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2022	Jun. 30, 2021
Current assets:
Cash and cash equivalents	$ 99,982	$ 154,047
Accounts receivable, less allowance for doubtful accounts of $9,367 and $9,734, respectively	311,635	302,945
Inventories (Note 9)	562,042	476,345
Other current assets	69,582	71,470
Total current assets	1,043,241	1,004,807
Property, plant and equipment:
Land and buildings	413,760	413,865
Machinery and equipment	1,940,497	1,959,176
Less accumulated depreciation	(1,341,997)	(1,317,906)
Property, plant and equipment, net	1,012,260	1,055,135
Other assets:
Goodwill (Note 17)	271,268	277,615
Other intangible assets, less accumulated amortization of $159,163 and $153,972, respectively (Note 17)	110,029	120,041
Operating lease right-of-use assets	46,175	50,341
Deferred income taxes	55,744	58,742
Other	120,796	99,080
Total other assets	604,012	605,819
Total assets	2,659,513	2,665,761
Current liabilities:
Revolving and other lines of credit and notes payable (Note 11)	28,736	8,365
Current operating lease liabilities	13,127	14,220
Accounts payable	197,687	177,659
Accrued income taxes	36,910	18,059
Accrued expenses	50,672	61,489
Other current liabilities	133,233	157,602
Total current liabilities	460,365	437,394
Long-term debt, less current maturities (Note 10)	593,138	592,108
Operating lease liabilities	33,635	36,800
Deferred income taxes	23,760	23,710
Accrued pension and postretirement benefits	158,940	171,067
Accrued income taxes	3,655	4,246
Other liabilities	24,218	32,231
Total liabilities	1,297,711	1,297,556
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; 83,074 and 83,614 shares issued, respectively	103,298	104,518
Additional paid-in capital	524,657	562,820
Retained earnings	1,045,445	992,597
Accumulated other comprehensive loss	(353,275)	(330,327)
Total Kennametal Shareholders' Equity	1,320,125	1,329,608
Noncontrolling interests	41,677	38,597
Total equity	1,361,802	1,368,205
Total liabilities and equity	$ 2,659,513	$ 2,665,761
Common Stock, Par or Stated Value Per Share	$ 1.25	$ 1.25
Preferred Stock, No Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	5,000	5,000

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2022	Jun. 30, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 10,368	$ 9,734
Accumulated amortization on other intangible assets	$ 160,278	$ 153,972
Preferred stock, par value	$ 0	$ 0
Preferred stock, shares authorized	5,000	5,000
Capital stock, par value	$ 1.25	$ 1.25
Capital stock, shares authorized	120,000	120,000
Capital stock, shares issued	82,638	83,614
Preferred Stock, Shares Issued	0	0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
OPERATING ACTIVITIES
Net income (loss)	$ 107,356	$ 22,375
Adjustments to reconcile to cash from operations:
Depreciation	87,984	83,677
Amortization	9,751	10,043
Stock-based compensation expense	18,024	19,381
Restructuring (benefits) charges and asset impairment charges (Note 6)	(2,444)	2,805
Deferred income taxes	593	(14,418)
Debt Related Commitment Fees and Debt Issuance Costs	0	9,071
Gain on divestiture (Note 3)	(1,001)	0
Other	703	4,567
Changes in certain assets and liabilities:
Accounts receivable	(17,757)	(56,454)
Inventories	(99,486)	58,109
Accounts payable and accrued liabilities	(11,416)	28,086
Accrued income taxes	14,733	(20,926)
Accrued pension and postretirement benefits	(20,318)	(21,142)
Other	6,301	14,023
Net cash flow provided by operating activities	93,023	139,197
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(60,151)	(94,066)
Disposals of property, plant and equipment	765	1,216
Proceeds from divestiture (Note 3)	1,001	0
Other	62	112
Net cash flow used for investing activities	(58,323)	(92,738)
FINANCING ACTIVITIES
Net increase (decrease) in notes payable	(7,111)	1,008
Net increase (decrease) revolving and other lines of credit	27,500	(490,000)
Proceeds from Issuance of Long-term Debt	0	297,867
Repayments of Long-term Debt	0	(300,000)
Payment for Debt Extinguishment or Debt Prepayment Cost	0	9,639
Proceeds from Derivative Instrument, Financing Activities	0	10,198
Purchase of capital stock	(50,522)	(149)
The effect of employee benefit and stock plans and dividend reinvestment	(6,889)	(150)
Cash dividends paid to Shareholders	(50,062)	(50,016)
Other	(682)	(4,581)
Net cash flow used for financing activities	(87,766)	(545,462)
Effect of exchange rate changes on cash and cash equivalents	(999)	6,626
CASH AND CASH EQUIVALENTS
Net decrease in cash and cash equivalents	(54,065)	(492,377)
Cash and cash equivalents, beginning of period	154,047	606,684
Cash and cash equivalents, end of period	$ 99,982	$ 114,307

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	9 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Nine Months Ended March 31, (in thousands) 2022 2021 Cash paid during the period for: Interest (Note 10) $ 17,519 $ 36,456 Income taxes 24,705 28,715 Supplemental disclosure of non-cash information: Changes in accounts payable related to purchases of property, plant and equipment 2,502 (14,700) Changes in notes payable related to purchases of property, plant and equipment — 7,254

Supplemental Cash Flow

Supplemental Cash Flow	9 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Disclosures	Nine Months Ended March 31, (in thousands) 2022 2021 Cash paid during the period for: Interest (Note 10) $ 17,519 $ 36,456 Income taxes 24,705 28,715 Supplemental disclosure of non-cash information: Changes in accounts payable related to purchases of property, plant and equipment 2,502 (14,700) Changes in notes payable related to purchases of property, plant and equipment — 7,254

Supplemental Cash Flow_2

Supplemental Cash Flow - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Interest	$ 17,519	$ 36,456
Income taxes	24,705	28,715
Change in accounts payable related to purchases of property, plant, and equipment	$ 2,502	(14,700)
Changes in notes payable related to purchases of property, plant and equipment		$ 7,254

Divestiture (Notes)

Divestiture (Notes)	9 Months Ended
	Mar. 31, 2022
Divestiture [Abstract]
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	DIVESTITUREDuring the year ended June 30, 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 year ended June 30, 2020 was $6.5 million. Transaction proceeds were primarily used for capital expenditures related to our simplification/modernization efforts. During the nine months ended March 31, 2022, we recorded a gain of $1.0 million on the New Castle divestiture due to proceeds held in escrow until November 2021.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
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, 2022, 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) $ — $ 513 $ — $ 513 Total assets at fair value $ — $ 513 $ — $ 513 Liabilities: Derivatives (1) $ — $ 14 $ — $ 14 Total liabilities at fair value $ — $ 14 $ — $ 14 As of June 30, 2021, 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) $ — $ 36 $ — $ 36 Total assets at fair value $ — $ 36 $ — $ 36 Liabilities: Derivatives (1) $ — $ 87 $ — $ 87 Total liabilities at fair value $ — $ 87 $ — $ 87 (1) Currency derivatives are valued based on observable market spot and forward rates and are classified within Level 2 of the fair value hierarchy.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
	Mar. 31, 2022
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, we do not hold any 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. There were no derivatives designated as hedging instruments as of March 31, 2022 and June 30, 2021. The fair value of derivatives not designated as hedging instruments in the condensed consolidated balance sheets are as follows: (in thousands) March 31, 2022 June 30, 2021 Derivatives not designated as hedging instruments Other current assets - currency forward contracts $ 513 $ 36 Other current liabilities - currency forward contracts (14) (87) Total derivatives not designated as hedging instruments 499 (51) Total derivatives $ 499 $ (51) Certain currency forward contracts that hedge significant cross-border intercompany loans are considered as other derivatives and therefore do not qualify for hedge accounting. These contracts are recorded at fair value in the condensed consolidated balance sheet, with the offset to other income, net. (Gains) losses related to derivatives not designated as hedging instruments have been recognized as follows: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2022 2021 2022 2021 Other income, net - currency forward contracts $ (541) $ 1,428 $ (535) $ 20 NET INVESTMENT HEDGES As of March 31, 2022 and June 30, 2021, we had certain foreign currency-denominated intercompany loans payable with total aggregate principal amounts of €5.3 million and €5.2 million, respectively, designated as net investment hedges to hedge the foreign exchange exposure of our net investment in our Euro-based subsidiaries. Gains of $0.1 million and $1.5 million were recorded as a component of foreign currency translation adjustments in other comprehensive income for the three months ended March 31, 2022 and 2021, respectively. Gains of $1.5 million and an immaterial amount were recorded as a component of foreign currency translation adjustments in other comprehensive loss for the nine months ended March 31, 2022 and 2021, respectively. As of March 31, 2022, 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 € 5,310 $ 5,896 June 26, 2022 (2) Includes principal and accrued interest.

Restructuring and Related Charg

Restructuring and Related Charges	9 Months Ended
	Mar. 31, 2022
Restructuring Charges [Abstract]
RESTRUCTURING AND RELATED CHARGES	RESTRUCTURING AND RELATED CHARGES FY21 Restructuring Actions In the September quarter of fiscal 2020, we announced the initiation of restructuring actions in Germany associated with our simplification/modernization initiative to reduce structural costs. Subsequently, we also announced the acceleration of our other structural cost reduction plans including the closure of the Johnson City, Tennessee facility. As of March 31, 2022, the FY21 Restructuring Actions are considered substantially complete. In line with our target of approximately $85 million, total restructuring and related charges since inception of $84.8 million were recorded for this program through March 31, 2022, consisting of: $77.1 million in Metal Cutting and $7.7 million in Infrastructure. Restructuring and Related Charges Recorded We recorded restructuring and related charges of $3.0 million for the three months ended March 31, 2022, which consisted of charges of $3.0 million in Metal Cutting and an immaterial amount in Infrastructure. Of this amount, restructuring charges were $0.9 million and restructuring-related charges were $2.1 million (included in cost of goods sold) for the three months ended March 31, 2022. For the three months ended March 31, 2021, we recorded restructuring and related charges of $2.1 million, which consisted of charges of $2.5 million in Metal Cutting offset by a benefit from the reversal of charges of $0.4 million in Infrastructure. Of this amount, restructuring benefits from the reversal of charges were $0.9 million of which $0.1 million was included in cost of goods sold for the three months ended March 31, 2021. Restructuring-related charges of $3.0 million were recorded in cost of goods sold for the three months ended March 31, 2021. We recorded restructuring and related charges of $2.6 million for the nine months ended March 31, 2022, which consisted of charges of $2.6 million in Metal Cutting and an immaterial amount in Infrastructure. Of this amount, restructuring benefits were $2.3 million and restructuring-related charges were $4.9 million (included in cost of goods sold) for the nine months ended March 31, 2022. For the nine months ended March 31, 2021, we recorded restructuring and related charges of $34.9 million, which consisted of charges of $32.0 million in Metal Cutting and $2.9 million in Infrastructure. Of this amount, restructuring charges were $26.5 million of which $0.3 million was included in cost of goods sold. Restructuring-related charges of $8.5 million were recorded in cost of goods sold for the nine months ended March 31, 2021. As of March 31, 2022, $7.8 million and $3.6 million of the restructuring accrual was recorded in other current liabilities and other liabilities, respectively, in our condensed consolidated balance sheet. As of June 30, 2021, $19.9 million and $9.9 million of the restructuring accrual was recorded in other current liabilities and other liabilities, respectively. The amounts are as follows: (in thousands) June 30, 2021 Expense Asset Write-Down Translation Cash Expenditures March 31, 2022 Severance $ 29,723 $ (3,903) $ — $ (1,224) $ (13,144) $ 11,452 Facilities — 1,580 (1,580) — — — Other — — — — — — Total $ 29,723 $ (2,323) $ (1,580) $ (1,224) $ (13,144) $ 11,452

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Mar. 31, 2022
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, 2022 were as follows: Options Weighted Average Exercise Price Weighted Average Remaining Life (years) Aggregate Intrinsic value (in thousands) Options outstanding, June 30, 2021 315,012 $ 37.83 Exercised (6,916) 31.69 Lapsed or forfeited (36,253) 41.84 Options outstanding, March 31, 2022 271,843 $ 37.45 2.2 $ 108 Options vested, March 31, 2022 271,843 $ 37.45 2.2 $ 108 Options exercisable, March 31, 2022 271,843 $ 37.45 2.2 $ 108 As of March 31, 2022 and June 30, 2021, there was no unrecognized compensation cost related to options outstanding, and all options were fully vested as of March 31, 2022 and 2021. The amount of cash received from the exercise of options during the nine months ended March 31, 2022 and 2021 was $0.2 million and $5.6 million, respectively. The total intrinsic value of options exercised was $0.1 million and $2.2 million during the nine months ended March 31, 2022 and 2021, 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, 2022 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, 2021 500,477 $ 32.53 1,332,740 $ 31.72 Granted 108,234 36.70 528,529 36.58 Vested (36,455) 40.10 (525,184) 32.13 Performance metric adjustments, net (150,711) 31.18 — — Forfeited (20,581) 32.42 (67,660) 32.29 Unvested, March 31, 2022 400,964 $ 33.49 1,268,425 $ 33.55 During the nine months ended March 31, 2022 and 2021, compensation expense related to time vesting and performance vesting restricted stock units was $17.2 million and $18.7 million, respectively. Certain performance metrics were not met, resulting in an adjustment of 150,711 performance vesting stock units during the nine months ended March 31, 2022. As of March 31, 2022, the total unrecognized compensation cost related to unvested time vesting and performance vesting restricted stock units was $28.1 million and is expected to be recognized over a weighted average period of 1.9 years.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	9 Months Ended
	Mar. 31, 2022
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) 2022 2021 2022 2021 Service cost $ 279 $ 429 $ 846 $ 1,264 Interest cost 5,631 5,815 16,931 17,371 Expected return on plan assets (12,985) (13,459) (39,020) (40,171) Amortization of transition obligation 23 24 71 70 Amortization of prior service cost 3 8 9 25 Recognition of actuarial losses 2,918 3,431 8,829 10,190 Net periodic pension income $ (4,131) $ (3,752) $ (12,334) $ (11,251) 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) 2022 2021 2022 2021 Interest cost $ 72 $ 76 $ 216 $ 230 Amortization of prior service credit (69) (69) (207) (207) Recognition of actuarial loss 74 77 223 230 Net periodic other postretirement benefit cost $ 77 $ 84 $ 232 $ 253 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, 2022
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES We used the last-in, first-out (LIFO) method of valuing inventories for 38 percent and 39 percent of total inventories at March 31, 2022 and June 30, 2021, 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, 2022 June 30, 2021 Finished goods $ 331,467 $ 302,524 Work in process and powder blends 207,276 173,671 Raw materials 100,721 72,551 Inventories at current cost 639,464 548,746 Less: LIFO valuation (77,422) (72,401) Total inventories $ 562,042 $ 476,345

Long-Term Debt

Long-Term Debt	9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Debt Disclosure [Abstract]
LONG-TERM DEBT		LONG-TERM DEBTFixed rate debt had a fair market value of $586.0 million and $644.2 million at March 31, 2022 and June 30, 2021, respectively. The Level 2 fair value is determined based on the quoted market prices for similar debt instruments as of March 31, 2022 and June 30, 2021, respectively.Senior Unsecured Notes In February 2021, we issued $300.0 million of 2.800 percent Senior Unsecured Notes with a maturity date of March 1, 2031. Interest will be paid semi-annually on March 1 and September 1 of each year. We settled forward starting interest rate swap contracts for a gain of $10.2 million related to the bond issuance. In March 2021, we used the net proceeds from the bond issuance, plus cash on hand, for the early extinguishment of our $300.0 million of 3.875 percent Senior Unsecured Notes due 2022 (the 2022 Notes). Due to the early extinguishment, interest expense during the three and nine months ended March 31, 2021 includes a make-whole premium of $9.6 million and the acceleration of a loss in the amount of $2.6 million from other comprehensive loss related to forward starting interest rate contracts that were used to hedge the interest payments of the 2022 Notes. A stranded tax benefit associated with the termination of this hedge was also recognized during the three and nine months ended March 31, 2021.
Short-term Debt	11. REVOLVING AND OTHER LINES OF CREDIT AND NOTES PAYABLE During the three months ended September 30, 2020, we entered into the First Amendment (the Amendment) to the Fifth Amended and Restated Credit Agreement dated as of June 21, 2018 (as amended by the Amendment, the Credit Agreement). The Credit Agreement is a five-year, multi-currency, revolving credit facility that we use to augment our cash from operations and as an additional source of funds. The Credit Agreement provides for revolving credit loans of up to $700.0 million for working capital, capital expenditures and general corporate purposes. The Credit Agreement allows for borrowings in U.S. dollars, euros, Canadian dollars, pounds sterling and Japanese yen. Interest payable under the Credit Agreement is based upon the type of borrowing under the facility and may be (1) LIBOR (or beginning January 1, 2022, a successor rate of Euro Interbank Offered Rate (EURIBOR), Sterling Overnight Index Average (SONIA), and Tokyo Interbank Offered Rate (TIBOR) for any borrowings in euros, pounds sterling and yen, respectively) plus an applicable margin, (2) the greater of the prime rate or the Federal Funds effective rate plus an applicable margin, or (3) fixed as negotiated by us. The Credit Agreement matures in June 2023. The Credit Agreement requires us to comply with various restrictive and affirmative covenants, including two financial covenants: (1) a maximum leverage ratio where debt, net of domestic cash in excess of $25 million and, as added by the Amendment, sixty percent of the unrestricted cash held outside of the United States, must be less than or equal to 3.5 times trailing twelve months EBITDA (temporarily increased by the Amendment to 4.25 times trailing twelve months EBITDA during the period from September 30, 2020 through and including December 31, 2021), adjusted for certain non-cash expenses, and which may be further adjusted, at our discretion, to include up to $120 million (increased from $80 million pursuant to the Amendment) of cash restructuring charges through December 31, 2021; and (2) a minimum consolidated interest coverage ratio of EBITDA to interest of 3.5 times (as the aforementioned terms are defined in the Credit Agreement). Borrowings under the Credit Agreement are guaranteed by our significant domestic subsidiaries. As of March 31, 2022, we were in compliance with all the covenants of the Credit Agreement and we had $27.5 million of borrowings outstanding and $672.5 million of additional availability. There were no borrowings outstanding as of June 30, 2021.

Environmental Matters

Environmental Matters	9 Months Ended
	Mar. 31, 2022
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 accruals for certain potential environmental liabilities. At March 31, 2022, the balance of these accruals was $12.9 million, of which $2.4 million was current. At June 30, 2021, the balance was $14.7 million, of which $2.6 million was current. These accruals represent anticipated costs associated with potential remedial requirements and are generally not discounted. The accruals 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 accruals 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 accrued 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, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective income tax rates for the three months ended March 31, 2022 and 2021 were 28.3 percent (provision on income) and 8.0 percent (benefit on income), respectively. The year-over-year change is due primarily to higher pretax income in the current year, discrete tax benefits recorded in the prior year quarter related to a provision to return adjustment and the recognition of a stranded deferred tax balance in accumulated other comprehensive loss arising from valuation allowance adjustments and enacted tax rate changes associated with the termination of forward starting interest rate cash flow hedges, and geographical mix. The effective income tax rates for the nine months ended March 31, 2022 and 2021 were 27.2 percent (provision on income) and 84.6 percent (benefit on income), respectively. The year-over-year change is due primarily to higher pretax income in the current year, discrete tax benefits recorded in the prior year related to a favorable provision to return adjustment and the recognition of a stranded deferred tax balance in accumulated other comprehensive loss arising from valuation allowance adjustments and enacted tax rate changes associated with the termination of forward starting interest rate cash flow hedges, and geographical mix. As of March 31, 2022, we have $25.2 million of U.S. net deferred tax assets, of which $56.0 million is related to net operating loss, tax credit, and other carryforwards that can be used to offset future U.S. taxable income. Certain of these carryforwards will expire if they are not used within a specified timeframe. At this time, we consider it more likely than not that we will have sufficient U.S. taxable income in the future that will allow us to realize these net deferred tax assets. However, it is possible that some or all of these tax attributes could ultimately expire unused, especially if our end markets do not continue to recover from the COVID-19 global pandemic. Therefore, if we are unable to generate sufficient U.S. taxable income from our operations, a valuation allowance to reduce the U.S. net deferred tax assets may be required, which would materially increase income tax expense in the period in which the valuation allowance is recorded. Swiss tax reform Swiss tax reform legislation was effectively enacted during the December quarter of fiscal 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 multi-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, 2020. 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. We anticipate finalization of the deferred tax asset within the next six months.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Mar. 31, 2022
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 table provides the computation of diluted shares outstanding for the three and nine months ended March 31, 2022 and 2021: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2022 2021 2022 2021 Weighted-average shares outstanding during period 83,084 83,719 83,538 83,539 Add: Unexercised stock options and unvested restricted stock units 723 869 730 645 Number of shares on which diluted earnings per share is calculated 83,807 84,588 84,268 84,184 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 372 217 340 321

Equity

Equity	9 Months Ended
	Mar. 31, 2022
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, 2022 and 2021 is as follows: Kennametal Shareholders’ Equity (in thousands, except per share amounts) Capital stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Non-controlling interests Total equity Balance as of December 31, 2021 $ 103,842 $ 534,592 $ 1,026,756 $ (349,168) $ 40,551 $ 1,356,573 Net income — — 35,295 — 1,583 36,878 Other comprehensive loss — — — (4,107) (457) (4,564) Dividend reinvestment 2 45 — — — 47 Capital stock issued under employee benefit and stock plans (3) 31 4,457 — — — 4,488 Purchase of capital stock (577) (14,437) — — — (15,014) Cash dividends ($0.20 per share) — — (16,606) — — (16,606) Total equity, March 31, 2022 $ 103,298 $ 524,657 $ 1,045,445 $ (353,275) $ 41,677 $ 1,361,802 Kennametal Shareholders’ Equity (in thousands, except per share amounts) Capital stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Non-controlling interests Total equity Balance as of December 31, 2020 $ 104,330 $ 547,754 $ 969,301 $ (342,231) $ 40,535 $ 1,319,689 Net income — — 21,621 — 1,364 22,985 Other comprehensive loss — — — (16,572) (730) (17,302) Dividend reinvestment 2 48 — — — 50 Capital stock issued under employee benefit and stock plans (3) 148 8,768 — — — 8,916 Purchase of capital stock (2) (48) — — — (50) Cash dividends ($0.20 per share) — — (16,707) — — (16,707) Total equity, March 31, 2021 $ 104,478 $ 556,522 $ 974,215 $ (358,803) $ 41,169 $ 1,317,581 (3) Net of restricted stock units delivered upon vesting to satisfy tax withholding requirements. 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, 2022 and 2021 is as follows: Kennametal Shareholders’ Equity (in thousands, except per share amounts) Capital stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Non-controlling interests Total equity Balance as of June 30, 2021 $ 104,518 $ 562,820 $ 992,597 $ (330,327) $ 38,597 $ 1,368,205 Net income — — 102,913 — 4,443 107,356 Other comprehensive loss — — — (22,948) (1,363) (24,311) Dividend reinvestment 5 137 — — — 142 Capital stock issued under employee benefit and stock plans (3) 543 10,454 — — — 10,997 Purchase of capital stock (1,768) (48,754) — — — (50,522) Cash dividends ($0.60 per share) — — (50,065) — — (50,065) Total equity, March 31, 2022 $ 103,298 $ 524,657 $ 1,045,445 $ (353,275) $ 41,677 $ 1,361,802 Kennametal Shareholders’ Equity (in thousands, except per share amounts) Capital stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Non-controlling interests Total equity Balance as of June 30, 2020 $ 103,654 $ 538,575 $ 1,004,898 $ (417,242) $ 38,903 $ 1,268,788 Net income — — $ 19,333 — 3,042 22,375 Other comprehensive income — — — 58,439 1,904 60,343 Dividend reinvestment 6 144 — — — 150 Capital stock issued under employee benefit and stock plans (3) 824 18,258 — — — 19,082 Purchase of capital stock (6) (144) — — — (150) Cash dividends ($0.60 per share) — — (50,016) — — (50,016) Cash dividends to non-controlling interests — — — — (1,361) (1,361) Other — (311) — — (1,319) (1,630) Total equity, March 31, 2021 $ 104,478 $ 556,522 $ 974,215 $ (358,803) $ 41,169 $ 1,317,581 (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, 2022
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, 2022: (in thousands) Pension and other postretirement benefits Currency translation adjustment Derivatives Total Attributable to Kennametal: Balance, June 30, 2021 $ (213,172) $ (122,428) $ 5,273 $ (330,327) Other comprehensive income (loss) before reclassifications 4,291 (33,263) — (28,972) Amounts reclassified from AOCL 6,601 — (577) 6,024 Net other comprehensive income (loss) 10,892 (33,263) (577) (22,948) AOCL, March 31, 2022 $ (202,280) $ (155,691) $ 4,696 $ (353,275) Attributable to noncontrolling interests: Balance, June 30, 2021 $ — $ (3,982) $ — $ (3,982) Other comprehensive loss before reclassifications — (1,363) — (1,363) Net other comprehensive loss — (1,363) — (1,363) AOCL, March 31, 2022 $ — $ (5,345) $ — $ (5,345) The components of, and changes in, AOCL were as follows, net of tax, for the nine months ended March 31, 2021: (in thousands) Pension and other postretirement benefits Currency translation adjustment Derivatives Total Attributable to Kennametal: Balance, June 30, 2020 $ (232,634) $ (181,027) $ (3,581) $ (417,242) Other comprehensive (loss) income before reclassifications (5,489) 47,108 9,272 50,891 Amounts reclassified from AOCL 7,758 — (210) 7,548 Net other comprehensive income 2,269 47,108 9,062 58,439 AOCL, March 31, 2021 $ (230,365) $ (133,919) $ 5,481 $ (358,803) Attributable to noncontrolling interests: Balance, June 30, 2020 $ — $ (5,909) $ — $ (5,909) Other comprehensive income before reclassifications — 1,904 — 1,904 Net other comprehensive income — 1,904 — 1,904 AOCL, March 31, 2021 $ — $ (4,005) $ — $ (4,005) Reclassifications out of AOCL for the three and nine months ended March 31, 2022 and 2021 consisted of the following: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2022 2021 2022 2021 Affected line item in the Income Statement Losses and (gains) on cash flow hedges: Forward starting interest rate swaps $ (255) $ 3,068 $ (766) $ 4,337 Interest expense Currency exchange contracts — — — (24) Cost of goods sold and other income, net Total before tax (255) 3,068 (766) 4,313 Tax impact 63 (4,216) 189 (4,523) Provision for income taxes Net of tax $ (192) $ (1,148) $ (577) $ (210) Pension and other postretirement benefits: Amortization of transition obligations $ 23 $ 24 $ 71 $ 70 Other income, net Amortization of prior service credit (66) (61) (198) (182) Other income, net Recognition of actuarial losses 2,992 3,508 9,052 10,420 Other income, net Total before tax 2,949 3,471 8,925 10,308 Tax impact (764) (892) (2,324) (2,550) Provision for income taxes Net of tax $ 2,185 $ 2,579 $ 6,601 $ 7,758 The amount of income tax allocated to each component of other comprehensive loss for the three months ended March 31, 2022 and 2021 were as follows: 2022 2021 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Unrealized gain on derivatives designated and qualified as cash flow hedges $ — $ — $ — $ 6,319 $ (1,548) $ 4,771 Reclassification of unrealized (gain) loss on derivatives designated and qualified as cash flow hedges (255) 63 (192) 3,068 (4,216) (1,148) Unrecognized net pension and other postretirement benefit gain 2,054 (543) 1,511 2,804 (772) 2,032 Reclassification of net pension and other postretirement benefit loss 2,949 (764) 2,185 3,471 (892) 2,579 Foreign currency translation adjustments (8,055) (13) (8,068) (24,604) (932) (25,536) Other comprehensive loss $ (3,307) $ (1,257) $ (4,564) $ (8,942) $ (8,360) $ (17,302) The amount of income tax allocated to each component of other comprehensive (loss) income for the nine months ended March 31, 2022 and 2021 were as follows: 2022 2021 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Unrealized gain on derivatives designated and qualified as cash flow hedges $ — $ — $ — $ 12,281 $ (3,009) $ 9,272 Reclassification of unrealized (gain) loss on derivatives designated and qualified as cash flow hedges (766) 189 (577) 4,313 (4,523) (210) Unrecognized net pension and other postretirement benefit gain (loss) 5,885 (1,594) 4,291 (7,109) 1,620 (5,489) Reclassification of net pension and other postretirement benefit loss 8,925 (2,324) 6,601 10,308 (2,550) 7,758 Foreign currency translation adjustments (34,575) (51) (34,626) 49,174 (162) 49,012 Other comprehensive (loss) income $ (20,531) $ (3,780) $ (24,311) $ 68,967 $ (8,624) $ 60,343

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS 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) Metal Cutting Infrastructure Total Gross goodwill $ 455,276 $ 633,211 $ 1,088,487 Accumulated impairment losses (177,661) (633,211) (810,872) Balance as of June 30, 2021 $ 277,615 $ — $ 277,615 Activity for the nine months ended March 31, 2022: Change in gross goodwill due to translation (6,347) — (6,347) Gross goodwill 448,929 633,211 1,082,140 Accumulated impairment losses (177,661) (633,211) (810,872) Balance as of March 31, 2022 $ 271,268 $ — $ 271,268 The components of our other intangible assets were as follows: Estimated March 31, 2022 June 30, 2021 (in thousands) Gross Carrying Accumulated Gross Carrying Accumulated Technology-based and other 4 to 20 $ 32,353 $ (23,285) $ 33,632 $ (24,413) Customer-related 10 to 21 182,337 (104,341) 183,338 (98,901) Unpatented technology 10 to 30 32,036 (22,487) 31,957 (20,575) Trademarks 5 to 20 12,526 (10,165) 13,268 (10,083) Trademarks Indefinite 11,055 — 11,818 — Total $ 270,307 $ (160,278) $ 274,013 $ (153,972)

Segment Data

Segment Data	9 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
SEGMENT DATA	SEGMENT DATA We operate in two reportable segments consisting of Metal Cutting and Infrastructure. Our reportable operating segments have been determined in accordance with 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. Our reportable operating segments do not represent the aggregation of two or more operating segments. METAL CUTTING The Metal Cutting segment develops and manufactures high performance tooling and metal cutting products and services and offers an assortment of standard and custom metal cutting solutions to diverse end markets, including aerospace, general engineering, energy and transportation. The 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 . Metal Cutting markets its products under the Kennametal ® , WIDIA ® , WIDIA Hanita ® and WIDIA GTD ® brands 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. 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 by segment are as follows: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2022 2021 2022 2021 Sales: Metal Cutting $ 313,813 $ 308,144 $ 910,824 $ 838,937 Infrastructure 198,446 176,514 571,617 486,533 Total sales $ 512,259 $ 484,658 $ 1,482,441 $ 1,325,470 Operating income: Metal Cutting $ 30,232 $ 22,674 $ 87,292 $ 12,741 Infrastructure 23,673 18,282 69,680 31,815 Corporate (541) (1,434) (1,497) (3,178) Total operating income 53,364 39,522 155,475 41,378 Interest expense 6,436 20,928 19,217 39,823 Other income, net (4,528) (2,692) (11,129) (10,568) Income before income taxes $ 51,456 $ 21,286 $ 147,387 $ 12,123 The following table presents Kennametal's revenue disaggregated by geography: Three Months Ended March 31, 2022 March 31, 2021 (in thousands) Metal Cutting Infrastructure Total Kennametal Metal Cutting Infrastructure Total Kennametal Americas 41% 62% 49% 37% 58% 45% EMEA 38 16 30 40 17 31 Asia Pacific 21 22 21 23 25 24 Nine Months Ended March 31, 2022 March 31, 2021 (in thousands) Metal Cutting Infrastructure Total Kennametal Metal Cutting Infrastructure Total Kennametal Americas 40% 59% 47% 38% 56% 45% EMEA 38 18 30 38 19 31 Asia Pacific 22 23 23 24 25 24 The following tables presents Kennametal's revenue disaggregated by end market: Three Months Ended March 31, 2022 (in thousands) Metal Cutting Infrastructure Total Kennametal General engineering 55% 33% 47% Transportation 28 — 17 Aerospace 9 — 6 Energy 8 30 16 Earthworks — 37 14 Three Months Ended March 31, 2021 (in thousands) Metal Cutting Infrastructure Total Kennametal General engineering 53% 37% 48% Transportation 32 — 20 Aerospace 8 — 5 Energy 7 26 14 Earthworks — 37 13 Nine Months Ended March 31, 2022 (in thousands) Metal Cutting Infrastructure Total Kennametal General engineering 56% 35% 48% Transportation 27 — 17 Aerospace 9 — 5 Energy 8 29 16 Earthworks — 36 14 Nine Months Ended March 31, 2021 (in thousands) Metal Cutting Infrastructure Total Kennametal General engineering 53% 36% 47% Transportation 31 — 20 Aerospace 8 — 5 Energy 8 25 14 Earthworks — 39 14

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Financial instruments at fair value on recurring basis	As of March 31, 2022, 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) $ — $ 513 $ — $ 513 Total assets at fair value $ — $ 513 $ — $ 513 Liabilities: Derivatives (1) $ — $ 14 $ — $ 14 Total liabilities at fair value $ — $ 14 $ — $ 14 As of June 30, 2021, 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) $ — $ 36 $ — $ 36 Total assets at fair value $ — $ 36 $ — $ 36 Liabilities: Derivatives (1) $ — $ 87 $ — $ 87 Total liabilities at fair value $ — $ 87 $ — $ 87 (1) Currency derivatives are valued based on observable market spot and forward rates and are classified within Level 2 of the fair value hierarchy.

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of derivatives	(in thousands) March 31, 2022 June 30, 2021 Derivatives not designated as hedging instruments Other current assets - currency forward contracts $ 513 $ 36 Other current liabilities - currency forward contracts (14) (87) Total derivatives not designated as hedging instruments 499 (51) Total derivatives $ 499 $ (51)
(Gains) losses related to derivatives not designated as hedging instruments	osses 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) 2022 2021 2022 2021 Other income, net - currency forward contracts $ (541) $ 1,428 $ (535) $ 20
Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location	As of March 31, 2022, 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 € 5,310 $ 5,896 June 26, 2022

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Mar. 31, 2022
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost	As of March 31, 2022, $7.8 million and $3.6 million of the restructuring accrual was recorded in other current liabilities and other liabilities, respectively, in our condensed consolidated balance sheet. As of June 30, 2021, $19.9 million and $9.9 million of the restructuring accrual was recorded in other current liabilities and other liabilities, respectively. The amounts are as follows: (in thousands) June 30, 2021 Expense Asset Write-Down Translation Cash Expenditures March 31, 2022 Severance $ 29,723 $ (3,903) $ — $ (1,224) $ (13,144) $ 11,452 Facilities — 1,580 (1,580) — — — Other — — — — — — Total $ 29,723 $ (2,323) $ (1,580) $ (1,224) $ (13,144) $ 11,452

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Changes in stock options	Changes in our stock options for the nine months ended March 31, 2022 were as follows: Options Weighted Average Exercise Price Weighted Average Remaining Life (years) Aggregate Intrinsic value (in thousands) Options outstanding, June 30, 2021 315,012 $ 37.83 Exercised (6,916) 31.69 Lapsed or forfeited (36,253) 41.84 Options outstanding, March 31, 2022 271,843 $ 37.45 2.2 $ 108 Options vested, March 31, 2022 271,843 $ 37.45 2.2 $ 108 Options exercisable, March 31, 2022 271,843 $ 37.45 2.2 $ 108
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, 2022 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, 2021 500,477 $ 32.53 1,332,740 $ 31.72 Granted 108,234 36.70 528,529 36.58 Vested (36,455) 40.10 (525,184) 32.13 Performance metric adjustments, net (150,711) 31.18 — — Forfeited (20,581) 32.42 (67,660) 32.29 Unvested, March 31, 2022 400,964 $ 33.49 1,268,425 $ 33.55

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	9 Months Ended
	Mar. 31, 2022
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) 2022 2021 2022 2021 Service cost $ 279 $ 429 $ 846 $ 1,264 Interest cost 5,631 5,815 16,931 17,371 Expected return on plan assets (12,985) (13,459) (39,020) (40,171) Amortization of transition obligation 23 24 71 70 Amortization of prior service cost 3 8 9 25 Recognition of actuarial losses 2,918 3,431 8,829 10,190 Net periodic pension income $ (4,131) $ (3,752) $ (12,334) $ (11,251)
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) 2022 2021 2022 2021 Interest cost $ 72 $ 76 $ 216 $ 230 Amortization of prior service credit (69) (69) (207) (207) Recognition of actuarial loss 74 77 223 230 Net periodic other postretirement benefit cost $ 77 $ 84 $ 232 $ 253

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: (in thousands) March 31, 2022 June 30, 2021 Finished goods $ 331,467 $ 302,524 Work in process and powder blends 207,276 173,671 Raw materials 100,721 72,551 Inventories at current cost 639,464 548,746 Less: LIFO valuation (77,422) (72,401) Total inventories $ 562,042 $ 476,345

Earnings Per Share (Tables) (Ta

Earnings Per Share (Tables) (Tables)	9 Months Ended
	Mar. 31, 2022
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 table provides the computation of diluted shares outstanding for the three and nine months ended March 31, 2022 and 2021: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2022 2021 2022 2021 Weighted-average shares outstanding during period 83,084 83,719 83,538 83,539 Add: Unexercised stock options and unvested restricted stock units 723 869 730 645 Number of shares on which diluted earnings per share is calculated 83,807 84,588 84,268 84,184 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 372 217 340 321

Equity (Tables)

Equity (Tables)	9 Months Ended
	Mar. 31, 2022
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, 2022 and 2021 is as follows: Kennametal Shareholders’ Equity (in thousands, except per share amounts) Capital stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Non-controlling interests Total equity Balance as of December 31, 2021 $ 103,842 $ 534,592 $ 1,026,756 $ (349,168) $ 40,551 $ 1,356,573 Net income — — 35,295 — 1,583 36,878 Other comprehensive loss — — — (4,107) (457) (4,564) Dividend reinvestment 2 45 — — — 47 Capital stock issued under employee benefit and stock plans (3) 31 4,457 — — — 4,488 Purchase of capital stock (577) (14,437) — — — (15,014) Cash dividends ($0.20 per share) — — (16,606) — — (16,606) Total equity, March 31, 2022 $ 103,298 $ 524,657 $ 1,045,445 $ (353,275) $ 41,677 $ 1,361,802 Kennametal Shareholders’ Equity (in thousands, except per share amounts) Capital stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Non-controlling interests Total equity Balance as of December 31, 2020 $ 104,330 $ 547,754 $ 969,301 $ (342,231) $ 40,535 $ 1,319,689 Net income — — 21,621 — 1,364 22,985 Other comprehensive loss — — — (16,572) (730) (17,302) Dividend reinvestment 2 48 — — — 50 Capital stock issued under employee benefit and stock plans (3) 148 8,768 — — — 8,916 Purchase of capital stock (2) (48) — — — (50) Cash dividends ($0.20 per share) — — (16,707) — — (16,707) Total equity, March 31, 2021 $ 104,478 $ 556,522 $ 974,215 $ (358,803) $ 41,169 $ 1,317,581 (3) Net of restricted stock units delivered upon vesting to satisfy tax withholding requirements. 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, 2022 and 2021 is as follows: Kennametal Shareholders’ Equity (in thousands, except per share amounts) Capital stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Non-controlling interests Total equity Balance as of June 30, 2021 $ 104,518 $ 562,820 $ 992,597 $ (330,327) $ 38,597 $ 1,368,205 Net income — — 102,913 — 4,443 107,356 Other comprehensive loss — — — (22,948) (1,363) (24,311) Dividend reinvestment 5 137 — — — 142 Capital stock issued under employee benefit and stock plans (3) 543 10,454 — — — 10,997 Purchase of capital stock (1,768) (48,754) — — — (50,522) Cash dividends ($0.60 per share) — — (50,065) — — (50,065) Total equity, March 31, 2022 $ 103,298 $ 524,657 $ 1,045,445 $ (353,275) $ 41,677 $ 1,361,802 Kennametal Shareholders’ Equity (in thousands, except per share amounts) Capital stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Non-controlling interests Total equity Balance as of June 30, 2020 $ 103,654 $ 538,575 $ 1,004,898 $ (417,242) $ 38,903 $ 1,268,788 Net income — — $ 19,333 — 3,042 22,375 Other comprehensive income — — — 58,439 1,904 60,343 Dividend reinvestment 6 144 — — — 150 Capital stock issued under employee benefit and stock plans (3) 824 18,258 — — — 19,082 Purchase of capital stock (6) (144) — — — (150) Cash dividends ($0.60 per share) — — (50,016) — — (50,016) Cash dividends to non-controlling interests — — — — (1,361) (1,361) Other — (311) — — (1,319) (1,630) Total equity, March 31, 2021 $ 104,478 $ 556,522 $ 974,215 $ (358,803) $ 41,169 $ 1,317,581 (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, 2022
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, 2022: (in thousands) Pension and other postretirement benefits Currency translation adjustment Derivatives Total Attributable to Kennametal: Balance, June 30, 2021 $ (213,172) $ (122,428) $ 5,273 $ (330,327) Other comprehensive income (loss) before reclassifications 4,291 (33,263) — (28,972) Amounts reclassified from AOCL 6,601 — (577) 6,024 Net other comprehensive income (loss) 10,892 (33,263) (577) (22,948) AOCL, March 31, 2022 $ (202,280) $ (155,691) $ 4,696 $ (353,275) Attributable to noncontrolling interests: Balance, June 30, 2021 $ — $ (3,982) $ — $ (3,982) Other comprehensive loss before reclassifications — (1,363) — (1,363) Net other comprehensive loss — (1,363) — (1,363) AOCL, March 31, 2022 $ — $ (5,345) $ — $ (5,345) The components of, and changes in, AOCL were as follows, net of tax, for the nine months ended March 31, 2021: (in thousands) Pension and other postretirement benefits Currency translation adjustment Derivatives Total Attributable to Kennametal: Balance, June 30, 2020 $ (232,634) $ (181,027) $ (3,581) $ (417,242) Other comprehensive (loss) income before reclassifications (5,489) 47,108 9,272 50,891 Amounts reclassified from AOCL 7,758 — (210) 7,548 Net other comprehensive income 2,269 47,108 9,062 58,439 AOCL, March 31, 2021 $ (230,365) $ (133,919) $ 5,481 $ (358,803) Attributable to noncontrolling interests: Balance, June 30, 2020 $ — $ (5,909) $ — $ (5,909) Other comprehensive income before reclassifications — 1,904 — 1,904 Net other comprehensive income — 1,904 — 1,904 AOCL, March 31, 2021 $ — $ (4,005) $ — $ (4,005)
Reclassification out of Accumulated Other Comprehensive Loss	Reclassifications out of AOCL for the three and nine months ended March 31, 2022 and 2021 consisted of the following: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2022 2021 2022 2021 Affected line item in the Income Statement Losses and (gains) on cash flow hedges: Forward starting interest rate swaps $ (255) $ 3,068 $ (766) $ 4,337 Interest expense Currency exchange contracts — — — (24) Cost of goods sold and other income, net Total before tax (255) 3,068 (766) 4,313 Tax impact 63 (4,216) 189 (4,523) Provision for income taxes Net of tax $ (192) $ (1,148) $ (577) $ (210) Pension and other postretirement benefits: Amortization of transition obligations $ 23 $ 24 $ 71 $ 70 Other income, net Amortization of prior service credit (66) (61) (198) (182) Other income, net Recognition of actuarial losses 2,992 3,508 9,052 10,420 Other income, net Total before tax 2,949 3,471 8,925 10,308 Tax impact (764) (892) (2,324) (2,550) Provision for income taxes Net of tax $ 2,185 $ 2,579 $ 6,601 $ 7,758
Income Tax Allocated to Each Component of Other Comprehensive Income [Table Text Block]	The amount of income tax allocated to each component of other comprehensive loss for the three months ended March 31, 2022 and 2021 were as follows: 2022 2021 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Unrealized gain on derivatives designated and qualified as cash flow hedges $ — $ — $ — $ 6,319 $ (1,548) $ 4,771 Reclassification of unrealized (gain) loss on derivatives designated and qualified as cash flow hedges (255) 63 (192) 3,068 (4,216) (1,148) Unrecognized net pension and other postretirement benefit gain 2,054 (543) 1,511 2,804 (772) 2,032 Reclassification of net pension and other postretirement benefit loss 2,949 (764) 2,185 3,471 (892) 2,579 Foreign currency translation adjustments (8,055) (13) (8,068) (24,604) (932) (25,536) Other comprehensive loss $ (3,307) $ (1,257) $ (4,564) $ (8,942) $ (8,360) $ (17,302) The amount of income tax allocated to each component of other comprehensive (loss) income for the nine months ended March 31, 2022 and 2021 were as follows: 2022 2021 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Unrealized gain on derivatives designated and qualified as cash flow hedges $ — $ — $ — $ 12,281 $ (3,009) $ 9,272 Reclassification of unrealized (gain) loss on derivatives designated and qualified as cash flow hedges (766) 189 (577) 4,313 (4,523) (210) Unrecognized net pension and other postretirement benefit gain (loss) 5,885 (1,594) 4,291 (7,109) 1,620 (5,489) Reclassification of net pension and other postretirement benefit loss 8,925 (2,324) 6,601 10,308 (2,550) 7,758 Foreign currency translation adjustments (34,575) (51) (34,626) 49,174 (162) 49,012 Other comprehensive (loss) income $ (20,531) $ (3,780) $ (24,311) $ 68,967 $ (8,624) $ 60,343

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Mar. 31, 2022
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) Metal Cutting Infrastructure Total Gross goodwill $ 455,276 $ 633,211 $ 1,088,487 Accumulated impairment losses (177,661) (633,211) (810,872) Balance as of June 30, 2021 $ 277,615 $ — $ 277,615 Activity for the nine months ended March 31, 2022: Change in gross goodwill due to translation (6,347) — (6,347) Gross goodwill 448,929 633,211 1,082,140 Accumulated impairment losses (177,661) (633,211) (810,872) Balance as of March 31, 2022 $ 271,268 $ — $ 271,268
The components of intangible assets	The components of our other intangible assets were as follows: Estimated March 31, 2022 June 30, 2021 (in thousands) Gross Carrying Accumulated Gross Carrying Accumulated Technology-based and other 4 to 20 $ 32,353 $ (23,285) $ 33,632 $ (24,413) Customer-related 10 to 21 182,337 (104,341) 183,338 (98,901) Unpatented technology 10 to 30 32,036 (22,487) 31,957 (20,575) Trademarks 5 to 20 12,526 (10,165) 13,268 (10,083) Trademarks Indefinite 11,055 — 11,818 — Total $ 270,307 $ (160,278) $ 274,013 $ (153,972)

Segment Data (Tables)

Segment Data (Tables)	9 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents Kennametal's revenue disaggregated by geography: Three Months Ended March 31, 2022 March 31, 2021 (in thousands) Metal Cutting Infrastructure Total Kennametal Metal Cutting Infrastructure Total Kennametal Americas 41% 62% 49% 37% 58% 45% EMEA 38 16 30 40 17 31 Asia Pacific 21 22 21 23 25 24 Nine Months Ended March 31, 2022 March 31, 2021 (in thousands) Metal Cutting Infrastructure Total Kennametal Metal Cutting Infrastructure Total Kennametal Americas 40% 59% 47% 38% 56% 45% EMEA 38 18 30 38 19 31 Asia Pacific 22 23 23 24 25 24 The following tables presents Kennametal's revenue disaggregated by end market: Three Months Ended March 31, 2022 (in thousands) Metal Cutting Infrastructure Total Kennametal General engineering 55% 33% 47% Transportation 28 — 17 Aerospace 9 — 6 Energy 8 30 16 Earthworks — 37 14 Three Months Ended March 31, 2021 (in thousands) Metal Cutting Infrastructure Total Kennametal General engineering 53% 37% 48% Transportation 32 — 20 Aerospace 8 — 5 Energy 7 26 14 Earthworks — 37 13 Nine Months Ended March 31, 2022 (in thousands) Metal Cutting Infrastructure Total Kennametal General engineering 56% 35% 48% Transportation 27 — 17 Aerospace 9 — 5 Energy 8 29 16 Earthworks — 36 14 Nine Months Ended March 31, 2021 (in thousands) Metal Cutting Infrastructure Total Kennametal General engineering 53% 36% 47% Transportation 31 — 20 Aerospace 8 — 5 Energy 8 25 14 Earthworks — 39 14
Sales and operating income (loss) by segment and segment assets	Our sales and operating income by segment are as follows: Three Months Ended March 31, Nine Months Ended March 31, (in thousands) 2022 2021 2022 2021 Sales: Metal Cutting $ 313,813 $ 308,144 $ 910,824 $ 838,937 Infrastructure 198,446 176,514 571,617 486,533 Total sales $ 512,259 $ 484,658 $ 1,482,441 $ 1,325,470 Operating income: Metal Cutting $ 30,232 $ 22,674 $ 87,292 $ 12,741 Infrastructure 23,673 18,282 69,680 31,815 Corporate (541) (1,434) (1,497) (3,178) Total operating income 53,364 39,522 155,475 41,378 Interest expense 6,436 20,928 19,217 39,823 Other income, net (4,528) (2,692) (11,129) (10,568) Income before income taxes $ 51,456 $ 21,286 $ 147,387 $ 12,123

Divestiture (Details)

Divestiture (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Divestiture [Abstract]
Proceeds from divestiture (Note 3)			$ 1,001	$ 0	$ 24,000
Disposition of Businesses, Net Book Value of Assets at Closing				29,500
Gain on divestiture (Note 3)	$ 0	$ 0	$ (1,001)	$ 0	$ (6,500)

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Jun. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets	$ 513	$ 36
Total assets at fair value	513	36
Derivatives Liabilities	14	87
Total liabilities at fair value	14	87
Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets	513	36
Total assets at fair value	513	36
Derivatives Liabilities	14	87
Total liabilities at fair value	$ 14	$ 87

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, 2022	Jun. 30, 2021
Fair value of derivatives
Derivative, Fair Value, Net	$ 499	$ (51)
Not Designated as Hedging Instrument [Member]
Fair value of derivatives
Derivative, Fair Value, Net	499	(51)
Currency Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other Current Assets [Member]
Fair value of derivatives
Derivative assets designated as hedging instruments	513	36
Currency Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | Other Current Liabilities [Member]
Fair value of derivatives
Derivative liabilities designated as hedging instruments	$ (14)	$ (87)

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, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax	$ 100	$ 1,500	$ 1,500	$ 0
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	$ (541)	$ 1,428	$ (535)	$ 20

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities (Details Textual) € in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2022EUR (€)	Jun. 30, 2021EUR (€)
Net Investment Hedge Maturing on June 26, 2022 [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 5,896		$ 5,896		€ 5,310
Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative, Amount of Hedged Item | €					€ 5,300	€ 5,200
Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax | $	$ 100	$ 1,500	$ 1,500	$ 0

Restructuring and Related Cha_2

Restructuring and Related Charges - Restructuring Accrual (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Restructuring Reserve [Abstract]
Beginning Balance			$ 29,723
Restructuring Charges	$ 900	$ (900)	(2,323)	$ 26,500
Asset Write-Down			(1,580)
Translation			(1,224)
Cash Expenditures			(13,144)
Ending Balance	11,452		11,452
Severance [Member]
Restructuring Reserve [Abstract]
Beginning Balance			29,723
Restructuring Charges			(3,903)
Asset Write-Down			0
Translation			(1,224)
Cash Expenditures			(13,144)
Ending Balance	11,452		11,452
Facilities [Member]
Restructuring Reserve [Abstract]
Beginning Balance			0
Restructuring Charges			1,580
Asset Write-Down			(1,580)
Translation			0
Cash Expenditures			0
Ending Balance	0		0
Other Restructuring [Member]
Restructuring Reserve [Abstract]
Beginning Balance			0
Restructuring Charges			0
Asset Write-Down			0
Translation			0
Cash Expenditures			0
Ending Balance	$ 0		$ 0

Restructuring and Related Cha_3

Restructuring and Related Charges - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 11,452		$ 11,452		$ 29,723
Restructuring and Related Cost, Incurred Cost	3,000	$ 2,100	2,600	$ 34,900
Restructuring Charges	900	(900)	(2,323)	26,500
Restructuring Charges Related to Inventory Disposals		(100)		300
Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost		(400)		2,900
Metal Cutting
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	3,000	2,500	2,600	32,000
FY21 Restructuring Actions [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	84,800		84,800
FY21 Restructuring Actions [Member] | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	85,000		85,000
FY21 Restructuring Actions [Member] | Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	7,700		7,700
FY21 Restructuring Actions [Member] | Metal Cutting
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	77,100		77,100
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Related Charges Recorded in Cost of Goods Sold or Operating Expense	2,100	$ 3,000	4,900	$ 8,500
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0		0		0
Restructuring Charges			0
Other Current Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	7,800		7,800		19,900
Other Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 3,600		$ 3,600		$ 9,900

Stock-Based Compensation - Chan

Stock-Based Compensation - Changes in Stock Options (Details)	9 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares
Changes in stock options
Options outstanding, June 30, 2021 | shares	315,012
Options, Exercised | shares	(6,916)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period | shares	(36,253)
Options outstanding, March 31, 2022 | shares	271,843
Options vested and expected to vest, March 31, 2022 | shares	271,843
Options exercisable, March 31, 2022 | shares	271,843
Weighted Average Exercise Price, Options outstanding, June 30, 2021 | $ / shares	$ 37.83
Weighted Average Exercise Price, Exercised | $ / shares	31.69
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $ / shares	41.84
Weighted Average Exercise Price, Options outstanding, March 31, 2022 | $ / shares	37.45
Weighted Average Exercise Price, Option vested and expected to vest, March 31, 2022 | $ / shares	37.45
Weighted Average Exercise Price, Options exercisable, March 31, 2022 | $ / shares	$ 37.45
Weighted Average Remaining Life, Options outstanding, March 31, 2022	2 years 2 months 12 days
Weighted Average Remaining Life, Options vested and expected to vest, March 31, 2022	2 years 2 months 12 days
Weighted Average Remaining Life, Options exercisable, March 31, 2022	2 years 2 months 12 days
Aggregate Intrinsic value, Options outstanding, March 31, 2022 | $	$ 108,000
Aggregate Intrinsic Value, Options vested and expected to vest, March 31, 2022 | $	108,000
Aggregate Intrinsic Value, Options exercisable, March 31, 2022 | $	$ 108,000

Stock-Based Compensation - Ch_2

Stock-Based Compensation - Changes in Restricted Stock Units (Details)	9 Months Ended
	Mar. 31, 2022$ / sharesshares
Restricted Stock Units - Performance Vesting [Member]
Changes in restricted stock awards
Unvested restricted stock awards, June 30, 2021, Shares | shares	500,477
Granted, Shares | shares	108,234
Vested, Shares | shares	(36,455)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations | shares	(150,711)
Forfeited, Shares | shares	(20,581)
Unvested restricted stock awards, March 31, 2022 | shares	400,964
Weighted Average Fair Value, Unvested restricted stock awards, June 30, 2021 | $ / shares	$ 32.53
Weighted Average Fair Value, Granted | $ / shares	36.70
Weighted Average Fair Value, Vested | $ / shares	40.10
Share-based Compensation Arrangements by Share-based Payment Award, Options, Other Share Increase (Decrease) in Period, Weighted Average Exercise Price | $ / shares	31.18
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares	32.42
Weighted Average Fair Value, Unvested restricted stock awards, March 31, 2022 | $ / shares	$ 33.49
Restricted Stock Units - Time Vesting [Member]
Changes in restricted stock awards
Unvested restricted stock awards, June 30, 2021, Shares | shares	1,332,740
Granted, Shares | shares	528,529
Vested, Shares | shares	(525,184)
Performance metric adjustments, net, Shares | shares	0
Forfeited, Shares | shares	(67,660)
Unvested restricted stock awards, March 31, 2022 | shares	1,268,425
Weighted Average Fair Value, Unvested restricted stock awards, June 30, 2021 | $ / shares	$ 31.72
Weighted Average Fair Value, Granted | $ / shares	36.58
Weighted Average Fair Value, Vested | $ / shares	32.13
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	32.29
Weighted Average Fair Value, Unvested restricted stock awards, March 31, 2022 | $ / shares	$ 33.55

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stock-Based Compensation (Textual) [Abstract]
Cash received from the exercise of capital stock option	$ 0.2	$ 5.6
Stock Option [Member]
Stock-Based Compensation (Textual) [Abstract]
Unrecognized compensation cost	0
Total Intrinsic value of options exercised	0.1	2.2
Restricted Stock Units (RSUs) [Member]
Stock-Based Compensation (Textual) [Abstract]
Compensation expense related to time vesting and performance vesting restricted stock units	17.2	$ 18.7
Unrecognized compensation cost	$ 28.1
Unrecognized compensation costs, weighted average period	1 year 10 months 24 days

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits - Components of Net Periodic Pension Income (Details) - Pension plans contribution [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Net periodic pension income
Service cost	$ 279	$ 429	$ 846	$ 1,264
Interest cost	5,631	5,815	16,931	17,371
Expected return on plan assets	(12,985)	(13,459)	(39,020)	(40,171)
Amortization of transition obligation	23	24	71	70
Amortization of prior service cost (credit)	3	8	9	25
Recognition of actuarial losses	2,918	3,431	8,829	10,190
Net periodic pension income	$ (4,131)	$ (3,752)	$ (12,334)	$ (11,251)

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, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Net periodic other postretirement benefit costs
Interest cost	$ 72	$ 76	$ 216	$ 230
Amortization of prior service credit	(69)	(69)	(207)	(207)
Recognition of actuarial loss	74	77	223	230
Net periodic other postretirement benefit cost	$ 77	$ 84	$ 232	$ 253

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Jun. 30, 2021
Inventories
Finished goods	$ 331,467	$ 302,524
Work in process and powder blends	207,276	173,671
Raw materials	100,721	72,551
Inventories at current cost	639,464	548,746
Less: LIFO valuation	(77,422)	(72,401)
Total inventories	$ 562,042	$ 476,345
Inventories (Textual) [Abstract]
Percentage of inventories valued by using LIFO method	38.00%	39.00%

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	Feb. 23, 2021	Feb. 14, 2012	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021	Jun. 07, 2018
Long-Term Debt (Additional Textual) [Abstract]
Fixed rate at fair market value				$ 586,000,000		$ 644,200,000
Notes Payable				1,200,000		8,400,000
Proceeds from Derivative Instrument, Financing Activities				0	$ 10,198,000
Proceeds from Issuance of Senior Long-term Debt	$ 300,000,000	$ 300,000,000
Debt Instrument, Interest Rate, Stated Percentage	2.80%	3.875%
Forward starting interest rate swaps			$ 2,600,000
2018 Credit Agreement [Member]
Long-Term Debt (Textual) [Abstract]
Line of Credit Facility, Remaining Borrowing Capacity				672,500,000
Borrowing outstanding under 2018 Credit Agreement				27,500,000		$ 0
Line of Credit Facility, Maximum Borrowing Capacity							$ 700,000,000
Line of Credit [Member]
Long-Term Debt (Textual) [Abstract]
Amended Net Debt to EBITDA Ratio, allowable adjustment for cash restructuring charges, amount				120,000,000
Amended Net Debt to EBITDA Ratio, Maximum				4.25
Consolidated Interest Coverage Ratio, Minimum				3.5
Net Debt to EBITDA Ratio, allowable adjustment for cash restructuring charges, amount				80,000,000
Net Debt to EBITDA Ratio, Maximum				3.5
Net Debt to EBITDA Ratio, domestic cash allowed to net debt, amount, minimum				$ 25,000,000

Environmental Matters (Details)

Environmental Matters (Details) - USD ($) $ in Millions	Mar. 31, 2022	Jun. 30, 2021
Environmental Remediation Obligations [Abstract]
Reserves for Environmental Costs	$ 12.9	$ 14.7
Accrued Environmental Loss Contingencies, Current	$ 2.4	$ 2.6

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Income Taxes - Additional Information [Line Items]
Discrete Benefit for Swiss Tax Reform				$ 14.5
NOL, tax credit and other carryforward	$ 56		$ 56
Deferred Tax Assets, Net	$ 25.2		$ 25.2
Income Tax (Textual) [Abstract]
Effective tax rate	28.30%	(8.00%)	27.20%	(84.60%)

Earnings Per Shares (Details)

Earnings Per Shares (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted Average Number of Shares Outstanding, Basic	83,084	83,719	83,538	83,539
Earnings Per Share (Textual) [Abstract]
Increase in weighted average shares due to dilutive effect of unexercised capital stock options and unvested restricted stock units	723	869	730	645
Weighted Average Number of Shares Outstanding, Diluted	83,807	84,588	84,268	84,184
Unexercised capital stock options and restricted stock units excluded from computation of diluted EPS	372	217	340	321

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Beginning Balance	$ 1,356,573	$ 1,319,689	$ 1,368,205	$ 1,268,788
Net income (loss)	36,878	22,985	107,356	22,375
Other comprehensive income (loss)	(4,564)	(17,302)	(24,311)	60,343
Dividend reinvestment	47	50	142	150
Capital stock issued under employee benefit and stock plans	4,488	8,916	10,997	19,082
Purchase of capital stock	(15,014)	(50)	(50,522)	(150)
Cash dividends	(16,606)	(16,707)	(50,065)	(50,016)
Other				(1,630)
Ending Balance	1,361,802	1,317,581	1,361,802	1,317,581
Capital stock [Member]
Beginning Balance	103,842	104,330	104,518	103,654
Dividend reinvestment	2	2	5	6
Capital stock issued under employee benefit and stock plans	31	148	543	824
Purchase of capital stock	(577)	(2)	(1,768)	(6)
Ending Balance	103,298	104,478	103,298	104,478
Additional paid-in capital [Member]
Beginning Balance	534,592	547,754	562,820	538,575
Dividend reinvestment	45	48	137	144
Capital stock issued under employee benefit and stock plans	4,457	8,768	10,454	18,258
Purchase of capital stock	(14,437)	(48)	(48,754)	(144)
Other				(311)
Ending Balance	524,657	556,522	524,657	556,522
Retained earnings [Member]
Beginning Balance	1,026,756	969,301	992,597	1,004,898
Net income (loss)	35,295	21,621	102,913	19,333
Cash dividends	(16,606)	(16,707)	(50,065)	(50,016)
Ending Balance	1,045,445	974,215	1,045,445	974,215
Accumulated other comprehensive loss [Member]
Beginning Balance	(349,168)	(342,231)	(330,327)	(417,242)
Other comprehensive income (loss)	(4,107)	(16,572)	(22,948)	58,439
Ending Balance	(353,275)	(358,803)	(353,275)	(358,803)
Non-controlling interest [Member]
Beginning Balance	40,551	40,535	38,597	38,903
Net income (loss)	1,583	1,364	4,443	3,042
Other comprehensive income (loss)	(457)	(730)	(1,363)	1,904
Cash dividends				(1,361)
Other				(1,319)
Ending Balance	$ 41,677	$ 41,169	$ 41,677	$ 41,169

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, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			$ (330,327)	$ (417,242)
Other comprehensive (loss) income before reclassifications			(28,972)	50,891
Amounts reclassified from accumulated other comprehensive loss			6,024	7,548
Net current period other comprehensive (loss) income			(22,948)	58,439
Accumulated Other Comprehensive Loss, Net of Tax	$ (353,275)	$ (358,803)	(353,275)	(358,803)
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			(213,172)	(232,634)
Other comprehensive (loss) income before reclassifications			4,291	(5,489)
Amounts reclassified from accumulated other comprehensive loss			6,601	7,758
Net current period other comprehensive (loss) income			10,892	2,269
Accumulated Other Comprehensive Loss, Net of Tax	(202,280)	(230,365)	(202,280)	(230,365)
Accumulated Currency Translation Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			(122,428)	(181,027)
Other comprehensive (loss) income before reclassifications			(33,263)	47,108
Amounts reclassified from accumulated other comprehensive loss			0	0
Net current period other comprehensive (loss) income			(33,263)	47,108
Accumulated Other Comprehensive Loss, Net of Tax	(155,691)	(133,919)	(155,691)	(133,919)
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			5,273	(3,581)
Other comprehensive (loss) income before reclassifications			0	9,272
Amounts reclassified from accumulated other comprehensive loss			(577)	(210)
Net current period other comprehensive (loss) income			(577)	9,062
Accumulated Other Comprehensive Loss, Net of Tax	4,696	5,481	4,696	5,481
Noncontrolling Interest [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			(3,982)	(5,909)
Other comprehensive (loss) income before reclassifications			(1,363)	1,904
Net current period other comprehensive (loss) income			(1,363)	1,904
Accumulated Other Comprehensive Loss, Net of Tax	(5,345)	(4,005)	(5,345)	(4,005)
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	(2,949)	(3,471)	(8,925)	(10,308)
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	$ 255	$ (3,068)	$ 766	$ (4,313)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Loss [Line Items]
Forward starting interest rate swaps		$ 2,600
Currency exchange contracts	$ 4,528	2,692	$ 11,129	$ 10,568
Recognition of actuarial losses	2,949	3,471	8,925	10,308
Provision for (benefit from) income taxes	14,578	(1,699)	40,031	(10,252)
Reclassification out of Accumulated Other Comprehensive Loss [Member] | Accumulated Net (Loss) Gain from Designated or Qualifying Cash Flow Hedges [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Loss [Line Items]
Total before tax	(255)	3,068	(766)	4,313
Net of tax	(192)	(1,148)	(577)	(210)
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	24	71	70
Amortization of prior service credit	(66)	(61)	(198)	(182)
Recognition of actuarial losses	2,992	3,508	9,052	10,420
Total before tax	2,949	3,471	8,925	10,308
Provision for (benefit from) income taxes	(764)	(892)	(2,324)	(2,550)
Net of tax	(2,185)	(2,579)	(6,601)	(7,758)
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	(255)	3,068	(766)	4,337
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	$ 0	$ 0	$ 0	$ (24)

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, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Other Comprehensive Income - Income Tax Allocated to Each Component [Abstract]
Unrecognized net pension and other postretirement benefit (loss) gain, before tax	$ 2,054	$ 2,804	$ 5,885	$ (7,109)
Unrecognized net pension and other postretirement benefit (loss) gain, tax	(543)	(772)	(1,594)	1,620
Unrecognized net pension and other postretirement benefit (loss) gain, net of tax	1,511	2,032	4,291	(5,489)
Reclassification of net pension and other postretirement benefit loss, before tax	2,949	3,471	8,925	10,308
Reclassification of net pension and other postretirement benefit loss, tax	(764)	(892)	(2,324)	(2,550)
Reclassification of net pension and other postretirement benefit loss	2,185	2,579	6,601	7,758
Foreign currency translation adjustments, before tax	(8,055)	(24,604)	(34,575)	49,174
Foreign currency translation adjustments, tax	(13)	(932)	(51)	(162)
Foreign currency translation adjustments, net of tax	(8,068)	(25,536)	(34,626)	49,012
Other comprehensive income (loss), before tax	(3,307)	(8,942)	(20,531)	68,967
Other comprehensive income (loss), tax	(1,257)	(8,360)	(3,780)	(8,624)
Other comprehensive income (loss), net of tax	(4,564)	(17,302)	(24,311)	60,343
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	63	(4,216)	189	(4,523)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	0	4,771	0	9,272
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(255)	3,068	(766)	4,313
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	192	1,148	577	210
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax	0	6,319	0	12,281
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax	$ 0	$ (1,548)	$ 0	$ (3,009)

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Carrying Amount of Goodwill Attributable to Each Segment (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2022	Jun. 30, 2021
Goodwill [Roll Forward]
Gross goodwill	$ 1,082,140	$ 1,088,487
Accumulated impairment losses	(810,872)	(810,872)
Goodwill, Beginning Balance	277,615
Change in gross goodwill due to translation	(6,347)
Goodwill, Ending Balance	271,268
Infrastructure [Member]
Goodwill [Roll Forward]
Gross goodwill	633,211	633,211
Accumulated impairment losses	(633,211)	(633,211)
Goodwill, Beginning Balance	0
Change in gross goodwill due to translation	0
Goodwill, Ending Balance	0
Metal Cutting
Goodwill [Roll Forward]
Gross goodwill	448,929	455,276
Accumulated impairment losses	(177,661)	$ (177,661)
Goodwill, Beginning Balance	277,615
Change in gross goodwill due to translation	(6,347)
Goodwill, Ending Balance	$ 271,268

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Components of Other Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2022	Jun. 30, 2021
The components of intangible assets
Accumulated amortization	$ (160,278)	$ (153,972)
Intangible Assets, Gross (Excluding Goodwill)	270,307	274,013
Trademarks [Member]
The components of intangible assets
Gross carrying amount, Indefinite	11,055	11,818
Technology-based and other [Member]
The components of intangible assets
Gross carrying amount, finite	32,353	33,632
Accumulated amortization	(23,285)	(24,413)
Customer-related [Member]
The components of intangible assets
Gross carrying amount, finite	182,337	183,338
Accumulated amortization	(104,341)	(98,901)
Unpatented technology [Member]
The components of intangible assets
Gross carrying amount, finite	32,036	31,957
Accumulated amortization	(22,487)	(20,575)
Trademarks [Member]
The components of intangible assets
Gross carrying amount, finite	12,526	13,268
Accumulated amortization	$ (10,165)	$ (10,083)
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] | 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

Segment Data - Sales and Operat

Segment Data - Sales and Operating (Loss) Income by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Segment Reporting Information [Line Items]
Assets	$ 2,659,513		$ 2,659,513		$ 2,665,761
External sales:
Sales	512,259	$ 484,658	1,482,441	$ 1,325,470
Operating (income) loss:
Total operating income	53,364	39,522	155,475	41,378
Interest expense	6,436	20,928	19,217	39,823
Other income, net	(4,528)	(2,692)	(11,129)	(10,568)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	51,456	21,286	147,387	12,123
Infrastructure [Member]
External sales:
Sales	198,446	176,514	571,617	486,533
Operating (income) loss:
Total operating income	(23,673)	(18,282)	(69,680)	(31,815)
Corporate [Member]
Operating (income) loss:
Total operating income	541	1,434	1,497	3,178
Metal Cutting
External sales:
Sales	313,813	308,144	910,824	838,937
Operating (income) loss:
Total operating income	$ (30,232)	$ (22,674)	$ (87,292)	$ (12,741)

Segment Data Disaggregation of

Segment Data Disaggregation of Revenue (Details)	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	47.00%	48.00%	48.00%	47.00%
Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	17.00%	20.00%	17.00%	20.00%
Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	6.00%	5.00%	5.00%	5.00%
Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	16.00%	14.00%	16.00%	14.00%
Earthworks [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	14.00%	13.00%	14.00%	14.00%
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	49.00%	45.00%	47.00%	45.00%
EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	30.00%	31.00%	30.00%	31.00%
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	21.00%	24.00%	23.00%	24.00%
Infrastructure [Member] | General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	33.00%	37.00%	35.00%	36.00%
Infrastructure [Member] | Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	30.00%	26.00%	29.00%	25.00%
Infrastructure [Member] | Earthworks [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	37.00%	37.00%	36.00%	39.00%
Infrastructure [Member] | Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	62.00%	58.00%	59.00%	56.00%
Infrastructure [Member] | EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	16.00%	17.00%	18.00%	19.00%
Infrastructure [Member] | Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	22.00%	25.00%	23.00%	25.00%
Metal Cutting | General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	55.00%	53.00%	56.00%	53.00%
Metal Cutting | Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	28.00%	32.00%	27.00%	31.00%
Metal Cutting | Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	9.00%	8.00%	9.00%	8.00%
Metal Cutting | Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	8.00%	7.00%	8.00%	8.00%
Metal Cutting | Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	41.00%	37.00%	40.00%	38.00%
Metal Cutting | EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	38.00%	40.00%	38.00%	38.00%
Metal Cutting | Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	21.00%	23.00%	22.00%	24.00%