Kennametal (KMT) 10-Q7 Feb 242024 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	6 Months Ended
Cover - shares	Dec. 31, 2023	Jan. 31, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2023
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)		79,269,782
Entity Central Index Key	0000055242
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Capital Stock, par value $1.25 per share \| New York Stock Exchange
Document Information [Line Items]
Title of 12(b) Security	Capital Stock, par value $1.25 per share
Trading Symbol	KMT
Security Exchange Name	NYSE
Preferred Stock Purchase Rights \| New York Stock Exchange
Document Information [Line Items]
Title of 12(b) Security	Preferred Stock Purchase Rights
Security Exchange Name	NYSE
No Trading Symbol Flag	true

Basis of Presentation

Basis of Presentation	6 Months Ended
Basis of Presentation	Dec. 31, 2023
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The condensed consolidated financial statements and accompanying notes included in this Quarterly Report on Form 10-Q, which include our accounts and those of our 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, 2023 (the “2023 Annual Report”). The condensed consolidated balance sheet as of June 30, 2023 was derived from the audited balance sheet included in our 2023 Annual Report. The interim statements are unaudited; however, we believe that all adjustments necessary for a fair statement of the results of the interim periods were made and all adjustments are normal recurring adjustments. The results for the six months ended December 31, 2023 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 2024 is to the fiscal year ending June 30, 2024. 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		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Sales	$ 495,320	$ 497,121	$ 987,796	$ 991,913
Cost of goods sold	355,723	354,231	685,301	689,055
Gross profit	139,597	142,890	302,495	302,858
Operating expense	107,342	105,756	218,991	214,035
Restructuring and other charges, net (Note 6)	(1,033)	(1,505)	(4,119)	(1,505)
Amortization of intangibles	2,743	3,148	5,788	6,312
Operating income	28,479	35,491	73,597	84,016
Interest expense	6,847	7,015	13,447	13,652
Other expense, net	(687)	588	(597)	1,597
Income before income taxes	22,319	27,888	60,747	68,767
Provision for income taxes	(2,009)	4,964	6,050	16,206
Net income	24,328	22,924	54,697	52,561
Less: Net income attributable to noncontrolling interests	1,220	1,025	1,532	2,466
Net income attributable to Kennametal	$ 23,108	$ 21,899	$ 53,165	$ 50,095
PER SHARE DATA ATTRIBUTABLE TO KENNAMETAL SHAREHOLDERS
Basic earnings per share	$ 0.29	$ 0.27	$ 0.67	$ 0.62
Diluted earnings per share	0.29	0.27	0.66	0.61
Dividends per share	$ 0.20	$ 0.20	$ 0.4	$ 0.4
Basic weighted average shares outstanding	79,700	80,737	79,863	81,141
Diluted weighted average shares outstanding	80,114	81,237	80,395	81,677
Noncontrolling Interest [Member]
Net income	$ 1,220	$ 1,025	$ 1,532	$ 2,466

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Net income	$ 24,328	$ 22,924	$ 54,697	$ 52,561
Other comprehensive income (loss), net of tax [Abstract]
Reclassification of unrealized gain on derivatives designated and qualified as cash flow hedges	(192)	(192)	(385)	(385)
Unrecognized net pension and other postretirement benefit plans gain	(1,752)	(3,371)	(235)	(47)
Reclassification of net pension and other postretirement benefit loss	1,071	832	2,125	1,639
Foreign currency translation adjustments	31,791	52,819	11,604	(130)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	(59)	0	(59)	0
Total other comprehensive loss, net of tax	30,859	50,088	13,050	1,077
Total comprehensive income (loss)	55,187	73,012	67,747	53,638
Less: comprehensive loss attributable to noncontrolling interests	1,888	2,092	1,560	1,768
Comprehensive income (loss) attributable to Kennametal Shareholders	53,299	70,920	66,187	51,870
Accumulated Other Comprehensive (Loss) Income [Line Items]
Provision for income taxes	(2,009)	4,964	6,050	16,206
Reclassification out of Accumulated Other Comprehensive Loss [Member] \| Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Provision for income taxes	$ (347)	$ (262)	$ (727)	$ (563)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 90,735	$ 106,021
Accounts receivable, less allowance for doubtful accounts of $8,185 and $8,759, respectively	290,547	307,313
Inventories (Note 9)	570,785	557,630
Other current assets	57,753	55,825
Total current assets	1,009,820	1,026,789
Property, plant and equipment:
Land and buildings	416,804	416,291
Machinery and equipment	1,999,244	1,951,535
Less accumulated depreciation	(1,454,652)	(1,398,758)
Property, plant and equipment, net	961,396	969,068
Other assets:
Goodwill (Note 17)	275,916	269,551
Other intangible assets, less accumulated amortization of $175,481 and $173,346, respectively (Note 17)	87,598	93,164
Operating lease right-of-use assets	47,294	43,036
Deferred income taxes	74,491	65,519
Other	87,837	80,107
Total other assets	573,136	551,377
Total assets	2,544,352	2,547,234
Current liabilities:
Revolving and other lines of credit and notes payable (Note 11)	23,315	689
Current operating lease liabilities	12,301	11,379
Accounts payable	193,002	203,341
Accrued income taxes	14,680	25,143
Accrued expenses	42,128	55,635
Other current liabilities	128,682	137,788
Total current liabilities	414,108	433,975
Long-term debt, less current maturities (Note 10)	595,576	595,172
Operating lease liabilities	35,014	32,178
Deferred income taxes	32,376	32,062
Accrued pension and postretirement benefits	116,655	115,536
Accrued income taxes	1,507	1,446
Other liabilities	21,012	22,697
Total liabilities	1,216,248	1,233,066
Commitments and contingencies
Kennametal Shareholders' Equity
Preferred stock, no par value; 5,000 shares authorized; none issued	0	0
Capital stock, $1.25 par value; 120,000 shares authorized; 79,818 and 79,835 shares issued, respectively	99,071	99,794
Additional paid-in capital	444,162	465,406
Retained earnings	1,145,911	1,124,590
Accumulated other comprehensive loss	(401,321)	(414,343)
Total Kennametal Shareholders' Equity	1,287,823	1,275,447
Noncontrolling interests	40,281	38,721
Total equity	1,328,104	1,314,168
Total liabilities and equity	$ 2,544,352	$ 2,547,234
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	Dec. 31, 2023	Jun. 30, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 8,616	$ 8,759
Accumulated amortization on other intangible assets	$ 179,863	$ 173,346
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	79,257	79,835
Preferred Stock, Shares Issued	0	0
Cash and Cash Equivalents, at Carrying Value	$ 90,735	$ 106,021

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
OPERATING ACTIVITIES
Net income	$ 54,697	$ 52,561
Adjustments to reconcile to cash from operations:
Depreciation	60,500	60,932
Amortization	5,788	6,312
Stock-based compensation expense	14,652	13,909
Restructuring and other charges, net (Note 6)	4,119	(1,505)
Deferred income taxes	(7,726)	(2,649)
Other	11,279	1,769
Changes in certain assets and liabilities:
Accounts receivable	20,447	3,961
Inventories	(9,471)	(32,901)
Accounts payable and accrued liabilities	(36,220)	(52,835)
Accrued income taxes	(17,259)	1,223
Accrued pension and postretirement benefits	(5,497)	(4,475)
Other	(7,001)	6,207
Net cash flow provided by (used in) operating activities	88,308	52,509
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(57,487)	(50,622)
Disposals of property, plant and equipment	5,208	2,466
Payments to Acquire Businesses, Net of Cash Acquired	4,010	0
Other	(117)	88
Net cash flow used in investing activities	(56,406)	(48,068)
FINANCING ACTIVITIES
Net increase in notes payable	2,112	(7)
Net increase in revolving and other lines of credit	20,500	57,800
Purchase of capital stock	(28,754)	(30,068)
The effect of employee benefit and stock plans and dividend reinvestment	(7,864)	(5,753)
Cash dividends paid to Shareholders	(31,844)	(32,371)
Other	(658)	(755)
Net cash flow (used in) provided by financing activities	(46,508)	(11,154)
Effect of exchange rate changes on cash and cash equivalents	(680)	(2,089)
Net decrease in cash and cash equivalents	(15,286)	(8,802)
Cash and cash equivalents, end of period	$ 90,735	$ 76,784

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	6 Months Ended
Supplemental Cash Flow Disclosures	Dec. 31, 2023
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Six Months Ended December 31, (in thousands) 2023 2022 Cash paid during the period for: Interest $ 13,305 $ 13,430 Income taxes 24,506 17,631 Supplemental disclosure of non-cash information: Changes in accounts payable related to purchases of property, plant and equipment (4,466) (7,226)

Supplemental Cash Flow

Supplemental Cash Flow	6 Months Ended
Supplemental Cash Flow	Dec. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Disclosures	Six Months Ended December 31, (in thousands) 2023 2022 Cash paid during the period for: Interest $ 13,305 $ 13,430 Income taxes 24,506 17,631 Supplemental disclosure of non-cash information: Changes in accounts payable related to purchases of property, plant and equipment (4,466) (7,226)

Supplemental Cash Flow_2

Supplemental Cash Flow - USD ($) $ in Thousands	6 Months Ended
Supplemental Cash Flow - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Interest	$ 13,305	$ 13,430
Income taxes	24,506	17,631
Change in accounts payable related to purchases of property, plant, and equipment	$ (4,466)	$ (7,226)

Supplier Finance Program

Supplier Finance Program	6 Months Ended
Supplier Finance Program	Dec. 31, 2023
Payables and Accruals [Abstract]
Supplier Finance Program	SUPPLIER FINANCE PROGRAM We have a supplier finance program managed through two global financial institutions under which we agree to pay the financial institutions the stated amount of confirmed invoices from our participating suppliers on the invoice due date. We, or the global financial institutions, may terminate our agreements at any time upon 30 days written notice. We do not provide any forms of guarantees under these agreements. Supplier participation in the program is solely up to the supplier. We have no economic interest in a supplier’s decision to participate in the program, and their participation has no bearing on our payment terms or amounts due. The payment terms that we have with our suppliers under this program are considered commercially reasonable. As of December 31, 2023 and June 30, 2023, the obligations outstanding that the Company has confirmed as valid to the financial institutions under the program were $24.2 million and $20.7 million, respectively, and were recorded within trade accounts payable.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Dec. 31, 2023
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 December 31, 2023, 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) $ — $ 100 $ — $ 100 Total assets at fair value $ — $ 100 $ — $ 100 Liabilities: Derivatives (1) $ — $ 36 $ — $ 36 Total liabilities at fair value $ — $ 36 $ — $ 36 As of June 30, 2023, 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) $ — $ 68 $ — $ 68 Total assets at fair value $ — $ 68 $ — $ 68 Liabilities: Derivatives (1) $ — $ 100 $ — $ 100 Total liabilities at fair value $ — $ 100 $ — $ 100 (1) Currency derivatives are valued based on observable market spot and forward rates and are classified within Level 2 of the fair value hierarchy.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
Derivative Instruments and Hedging Activities	Dec. 31, 2023
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. The fair value of derivatives designated and not designated as hedging instruments in the condensed consolidated balance sheets are as follows: (in thousands) December 31, 2023 June 30, 2023 Derivatives designated as hedging instruments Other current assets - range forward contracts $ 80 $ — Other current liabilities - range forward contracts (1) — Total derivatives designated as hedging instruments 79 — Derivatives not designated as hedging instruments Other current assets - currency forward contracts $ 20 $ 68 Other current liabilities - currency forward contracts (35) (100) Total derivatives not designated as hedging instruments (15) (32) Total derivatives $ 64 $ (32) 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 sheets, with the offset to other (income) expense, net. (Gains) losses related to derivatives not designated as hedging instruments have been recognized as follows: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2023 2022 2023 2022 Other (income) expense, net - currency forward contracts $ (93) $ (197) $ 29 $ (503) CASH FLOW HEDGES Range forward contracts (a transaction where both a put option is purchased and a call option is sold) are designated as cash flow hedges and hedge anticipated cash flows from cross-border intercompany sales of products and services. Gains and losses realized on these contracts are recorded in accumulated other comprehensive loss and are recognized as a component of cost of goods sold and other (income) expense, net when the underlying sale of products or services is recognized into earnings. The notional amount of the contracts translated into U.S. dollars at December 31, 2023 was $35.4 million. There were no such contracts outstanding as of June 30, 2023. The time value component of the fair value of range forward contracts is excluded from the assessment of hedge effectiveness. The following represents losses, net of tax, related to cash flow hedges: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2023 2022 2023 2022 Losses recognized in other comprehensive income $ (59) $ — $ (59) $ — No portion of the gains or losses recognized in earnings was due to ineffectiveness and no amounts were excluded from our effectiveness testing for the three months ended December 31, 2023 and 2022. NET INVESTMENT HEDGES As of December 31, 2023, we had certain foreign currency-denominated intercompany loans payable with total aggregate principal amounts of €10.1 million and ¥109.9 million, designated as net investment hedges to hedge the foreign exchange exposure of our net investment in our Euro-based and China-based subsidiaries. As of June 30, 2023, we had no foreign currency-denominated intercompany loans payable designated as net investment hedges. A loss of $0.3 million and $0.4 million were recorded as a component of foreign currency translation adjustments in other comprehensive income for the three months ended December 31, 2023 and 2022, respectively. A loss of $0.3 million and a gain $1.3 million were recorded as a component of foreign currency translation adjustments in other comprehensive income for the six months ended December 31, 2023 and 2022, respectively. As of December 31, 2023, the foreign currency-denominated intercompany loans payable designated as net investment hedges consisted of: Instrument Notional (EUR and CNY in thousands) (2) Notional (USD in thousands) (2) Maturity Foreign currency-denominated intercompany loan payable € 10,058 $ 11,113 June 2024 Foreign currency-denominated intercompany loan payable ¥ 109,878 $ 15,472 November 2024 (2) Includes principal and accrued interest.

Restructuring and Related Charg

Restructuring and Related Charges	6 Months Ended
Restructuring and Related Charges	Dec. 31, 2023
Restructuring Charges [Abstract]
RESTRUCTURING AND RELATED CHARGES	RESTRUCTURING AND OTHER CHARGES, NET In the June quarter of fiscal 2023, we announced an initiative to streamline our cost structure while continuing to invest in our high-return commercial and operational excellence initiatives. Total restructuring and related charges for this program of $12.1 million, compared to a target of approximately $25 million, up from $20 million, were recorded through December 31, 2023, consisting of $9.2 million in Metal Cutting and $2.9 million in Infrastructure. The majority of the remaining charges are expected to be recognized in fiscal 2024. We recorded restructuring and related charges of $1.0 million for the three months ended December 31, 2023, which consisted of $0.7 million in Metal Cutting and $0.3 million in Infrastructure. We recorded restructuring and related charges of $4.7 million for the six months ended December 31, 2023, which consisted of $3.2 million in Metal Cutting and $1.5 million in Infrastructure. Also included in other charges, net during the six months ended December 31, 2023 is a net benefit of $0.6 million primarily due to the sale of property. We recorded no restructuring and related charges for the three and six months ended December 31, 2022. Included in other charges, net for the three and six months ended December 31, 2022 is a net benefit of $1.5 million, primarily due to the sale of property. As of December 31, 2023, $6.5 million and $2.2 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, 2023, $9.4 million and $0.5 million of the restructuring accrual was recorded in other current liabilities and other liabilities, respectively. The amounts are as follows: (in thousands) June 30, 2023 Expense Translation Cash Expenditures December 31, 2023 Severance $ 9,885 $ 4,726 $ 105 $ (6,049) $ 8,667 Total $ 9,885 $ 4,726 $ 105 $ (6,049) $ 8,667

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
Stock-Based Compensation	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Stock Options Changes in our stock options for the six months ended December 31, 2023 were as follows: Options Weighted Average Exercise Price Weighted Average Remaining Life (years) Aggregate Intrinsic value (in thousands) Options outstanding, June 30, 2023 217,614 $ 37.29 Exercised — — Lapsed or forfeited (52,304) 45.24 Options outstanding, December 31, 2023 165,310 $ 34.78 1.3 $ 69 Options vested, December 31, 2023 165,310 $ 34.78 1.3 $ 69 Options exercisable, December 31, 2023 165,310 $ 34.78 1.3 $ 69 As of December 31, 2023 and June 30, 2023, there was no unrecognized compensation cost related to options outstanding, and all options were fully vested as of December 31, 2023 and June 30, 2023. There was no cash received from the exercise of options during the six months ended December 31, 2023 and 2022. The total intrinsic value of options exercised during the six months ended December 31, 2023 and 2022 was zero. Restricted Stock Units – Performance Vesting and Time Vesting Changes in our performance vesting and time vesting restricted stock units for the six months ended December 31, 2023 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, 2023 483,481 $ 31.68 1,207,442 $ 30.26 Granted 270,911 25.99 711,635 25.84 Vested (176,508) 51.12 (599,580) 31.14 Performance metric adjustments, net 37,378 38.45 — — Forfeited (56,946) 46.26 (24,070) 27.85 Unvested, December 31, 2023 558,316 $ 21.74 1,295,427 $ 27.47 During the six months ended December 31, 2023 and 2022, compensation expense related to time vesting and performance vesting restricted stock units was $14.0 million and $13.1 million, respectively. Performance vesting stock units were adjusted by 37,378 units during the six months ended December 31, 2023 related to the fiscal 2023 performance year. As of December 31, 2023, the total unrecognized compensation cost related to unvested time vesting and performance vesting restricted stock units was $33.7 million and is expected to be recognized over a weighted average period of 1.8 years.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	6 Months Ended
Pension and Other Postretirement Benefits	Dec. 31, 2023
Retirement Benefits [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFITS	The table below summarizes the components of net periodic pension income: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2023 2022 2023 2022 Service cost $ 293 $ 235 $ 590 $ 474 Interest cost 8,857 8,002 17,764 16,042 Expected return on plan assets (11,125) (9,983) (22,286) (20,008) Amortization of transition obligation 19 20 38 41 Amortization of prior service (credit) cost (1) 2 (2) 4 Recognition of actuarial losses 1,428 1,092 2,872 2,197 Net periodic pension income $ (529) $ (632) $ (1,024) $ (1,250) The table below summarizes the components of net periodic other postretirement benefit cost: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2023 2022 2023 2022 Interest cost $ 106 $ 104 $ 212 $ 209 Amortization of prior service credit (63) (68) (127) (136) Recognition of actuarial loss 35 48 71 96 Net periodic other postretirement benefit cost $ 78 $ 84 $ 156 $ 169 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) expense, net.

Inventories

Inventories	6 Months Ended
Inventories	Dec. 31, 2023
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES We used the last-in, first-out (LIFO) method of valuing inventories for 32 percent and 33 percent of total inventories at December 31, 2023 and June 30, 2023, respectively. Inventory valuations under the LIFO method are based on an annual determination of quantities and costs as of June 30 of each year; therefore, the interim LIFO valuations are based on our projections of expected year-end inventory levels and costs and are subject to any final year-end LIFO inventory adjustments. Inventories consisted of the following: (in thousands) December 31, 2023 June 30, 2023 Finished goods $ 353,254 $ 328,094 Work in process and powder blends 221,872 233,346 Raw materials 80,746 81,552 Inventories at current cost 655,872 642,992 Less: LIFO valuation (85,087) (85,362) Total inventories $ 570,785 $ 557,630

Long-Term Debt

Long-Term Debt	6 Months Ended
Long-Term Debt	Dec. 31, 2023
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Fixed rate debt had a fair market value of $546.4 million and $527.4 million at December 31, 2023 and June 30, 2023, respectively. The Level 2 fair value is determined based on the quoted market prices for similar debt instruments as of December 31, 2023 and June 30, 2023, respectively.
Short-term Debt	11. REVOLVING AND OTHER LINES OF CREDIT AND NOTES PAYABLE During fiscal 2022, we entered into the Sixth Amended and Restated Credit Agreement dated as of June 14, 2022 (the Credit Agreement). The Credit Agreement is a five-year, multi-currency, revolving credit facility, which we use to augment 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) Euro Interbank Offered Rate (EURIBOR), Sterling Overnight Index Average (SONIA), Tokyo Interbank Offered Rate (TIBOR), Secured Overnight Financing Rate (SOFR), and Canadian Dollar Offered Rate (CDOR) for any borrowings in euros, pounds sterling, yen, U.S. dollars and Canadian dollars, 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 2027. The Credit Agreement requires us to comply with various restrictive and affirmative covenants, including one financial covenant: a maximum leverage ratio where debt, net of domestic cash in excess of $25 million and sixty percent of the unrestricted cash held outside of the United States, must be less than or equal to 3.75 times trailing twelve months EBITDA, adjusted for certain non-cash expenses. As of December 31, 2023, we were in compliance with all the covenants of the Credit Agreement, and there were $20.5 million of borrowings outstanding and $679.5 million of additional availability. There were no borrowings outstanding as of June 30, 2023.

Environmental Matters

Environmental Matters	6 Months Ended
Environmental Matters	Dec. 31, 2023
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 sites associated with our current or former operations. We establish and maintain accruals for estimated liabilities associated with certain environmental matters. At December 31, 2023, the balance of such accruals was $11.3 million, of which $1.5 million was current. At June 30, 2023, the balance was $12.0 million, of which $1.7 million was current. We record a loss contingency when the available information indicates it is probable that we have incurred a liability and the amount of the loss is reasonably estimable. The likelihood of a loss with respect to a particular environmental matter is often difficult to predict, and determining a meaningful estimate of the loss or a range of loss may not be practicable based on information available. When a material loss contingency is probable but a reasonable estimate cannot be made, or when a material loss contingency is at least reasonably possible, disclosure is provided. The accruals we have established for estimated environmental liabilities represent our best current estimate of the probable and reasonably estimable costs of addressing 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. 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 or the courts on these matters. Among other environmental laws, we are subject to the Comprehensive Environmental Response Compensation and Liability Act of 1980 (CERCLA), under which we have been identified by the USEPA or other third party as a PRP with respect to environmental remedial costs at certain Superfund sites. We have evaluated our claims and estimated liability associated with these sites based upon the best information currently available to us. We believe our environmental accruals are adequate to cover our portion of the environmental remedial costs at the sites where we have been designated a PRP, to the extent these expenses are probable and reasonably estimable.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective income tax rates for the three months ended December 31, 2023 and 2022 were 9.0 percent (benefit on income) and 17.8 percent (provision on income), respectively. The year-over-year change is primarily due to a $7.8 million benefit related to a tax rate change in Switzerland that was enacted during the three months ended December 31, 2023, a $2.2 million benefit recorded in the three months ended December 31, 2022 to adjust a deferred tax asset associated with tax reform in Switzerland, and geographical mix. The effective income tax rates for the six months ended December 31, 2023 and 2022 were 10.0 percent and 23.6 percent (both provisions on income), respectively. The year-over-year change is primarily due to adjustments for the six months ended December 31, 2023 that include a $7.8 million benefit related to a tax rate change enacted in Switzerland, a $6.2 million benefit associated with a change in unrecognized tax benefits and a $2.9 million charge to settle tax litigation in Italy, coupled with a $2.2 million benefit in the six months ended December 31, 2022 to adjust a deferred tax asset associated with tax reform in Switzerland, and geographical mix.

Earnings Per Share

Earnings Per Share	6 Months Ended
Earnings Per Share	Dec. 31, 2023
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 six months ended December 31, 2023 and 2022: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2023 2022 2023 2022 Weighted-average shares outstanding during the period 79,700 80,737 79,863 81,141 Add: Unexercised stock options and unvested restricted stock units 414 500 532 536 Number of shares on which diluted earnings per share is calculated 80,114 81,237 80,395 81,677 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 588 1,388 472 1,373

Equity

Equity	6 Months Ended
Equity	Dec. 31, 2023
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 ended December 31, 2023 and 2022 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 September 30, 2023 $ 99,773 $ 453,385 $ 1,138,712 $ (431,512) $ 38,393 $ 1,298,751 Net income — — 23,108 1,220 24,328 Other comprehensive income — — — 30,191 668 30,859 Dividend reinvestment 2 43 — 45 Capital stock issued under employee benefit and stock plans (3) 80 4,979 — 5,059 Purchase of capital stock (784) (14,245) — (15,029) Cash dividends ($0.20 per share) — — (15,909) — — (15,909) Total equity, December 31, 2023 $ 99,071 $ 444,162 $ 1,145,911 $ (401,321) $ 40,281 $ 1,328,104 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 September 30, 2022 $ 101,095 $ 478,930 $ 1,082,575 $ (461,197) $ 36,942 $ 1,238,345 Net income — — 21,899 — 1,025 22,924 Other comprehensive income — — — 49,021 1,067 50,088 Dividend reinvestment 2 45 — — — 47 Capital stock issued under employee benefit and stock plans (3) 131 4,453 — — — 4,584 Purchase of capital stock (587) (10,105) — — — (10,692) Cash dividends ($0.20 per share) — — (16,095) — — (16,095) Total equity, December 31, 2022 $ 100,641 $ 473,323 $ 1,088,379 $ (412,176) $ 39,034 $ 1,289,201 (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 six months ended December 31, 2023 and 2022 is as follows:

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
Accumulated Other Comprehensive Loss	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	ACCUMULATED OTHER COMPREHENSIVE LOSS The components of, and changes in, accumulated other comprehensive loss (AOCL) were as follows, net of tax, for the six months ended December 31, 2023: (in thousands) Pension and other postretirement benefits Currency translation adjustment Derivatives Total Attributable to Kennametal: Balance, June 30, 2023 $ (215,435) $ (202,641) $ 3,733 $ (414,343) Other comprehensive (loss) income before reclassifications (235) 11,576 (59) 11,282 Amounts reclassified from AOCL 2,125 (385) 1,740 Net other comprehensive income (loss) 1,890 11,576 (444) 13,022 AOCL, December 31, 2023 $ (213,545) $ (191,065) $ 3,289 $ (401,321) Attributable to noncontrolling interests: Balance, June 30, 2023 $ — $ (8,139) $ — $ (8,139) Other comprehensive income before reclassifications — 28 — 28 Net other comprehensive income — 28 — 28 AOCL, December 31, 2023 $ — $ (8,111) $ — $ (8,111) The components of, and changes in, AOCL were as follows, net of tax, for the six months ended December 31, 2022: (in thousands) Pension and other postretirement benefits Currency translation adjustment Derivatives Total Attributable to Kennametal: Balance, June 30, 2022 $ (208,406) $ (210,048) $ 4,503 $ (413,951) Other comprehensive (loss) income before reclassifications (47) 568 — 521 Amounts reclassified from AOCL 1,639 — (385) 1,254 Net other comprehensive income (loss) 1,592 568 (385) 1,775 AOCL, December 31, 2022 $ (206,814) $ (209,480) $ 4,118 $ (412,176) Attributable to noncontrolling interests: Balance, June 30, 2022 $ — $ (7,547) $ — $ (7,547) Other comprehensive loss before reclassifications — (698) — (698) Net other comprehensive loss — (698) — (698) AOCL, December 31, 2022 $ — $ (8,245) $ — $ (8,245) Reclassifications out of AOCL for the three and six months ended December 31, 2023 and 2022 consisted of the following: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2023 2022 2023 2022 Affected line item in the Income Statement Gains on cash flow hedges: Forward starting interest rate swaps $ (255) $ (255) $ (511) $ (511) Interest expense Total before tax (255) (255) (511) (511) Tax impact 63 63 126 126 Provision for income taxes Net of tax $ (192) $ (192) $ (385) $ (385) Pension and other postretirement benefits: Amortization of transition obligations $ 19 $ 20 $ 38 $ 41 Other (income) expense, net Amortization of prior service credit (64) (66) (129) (132) Other (income) expense, net Recognition of actuarial losses 1,463 1,140 2,943 2,293 Other (income) expense, net Total before tax 1,418 1,094 2,852 2,202 Tax impact (347) (262) (727) (563) Provision for income taxes Net of tax $ 1,071 $ 832 $ 2,125 $ 1,639 The amount of income tax allocated to each component of other comprehensive income for the three months ended December 31, 2023 and 2022 were as follows: 2023 2022 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Unrealized loss on derivatives designated and qualified as cash flow hedges $ (78) $ 19 $ (59) $ — $ — $ — Reclassification of unrealized gain on derivatives designated and qualified as cash flow hedges (255) 63 (192) (255) 63 (192) Unrecognized net pension and other postretirement benefit plans loss (2,378) 626 (1,752) (4,564) 1,193 (3,371) Reclassification of net pension and other postretirement benefit plans loss 1,418 (347) 1,071 1,094 (262) 832 Foreign currency translation adjustments 31,681 110 31,791 52,675 144 52,819 Other comprehensive income $ 30,388 $ 471 $ 30,859 $ 48,950 $ 1,138 $ 50,088

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
Goodwill and Other Intangible Assets	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS During the three months ended December 31, 2023, the Company completed an immaterial business combination for total consideration of approximately $6.5 million. Goodwill of approximately $3.6 million was recorded in the Metal Cutting segment as a result of the acquisition. 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 $ 447,212 $ 633,211 $ 1,080,423 Accumulated impairment losses (177,661) (633,211) (810,872) Balance as of June 30, 2023 $ 269,551 $ — $ 269,551 Activity for the six months ended December 31, 2023: Acquisition 3,639 — 3,639 Change in gross goodwill due to translation 2,726 — 2,726 Gross goodwill 453,577 633,211 1,086,788 Accumulated impairment losses (177,661) (633,211) (810,872) Balance as of December 31, 2023 $ 275,916 $ — $ 275,916 The components of our other intangible assets were as follows: Estimated December 31, 2023 June 30, 2023 (in thousands) Gross Carrying Accumulated Gross Carrying Accumulated Technology-based and other 4 to 20 $ 32,038 $ (24,411) $ 31,872 $ (23,838) Customer-related 10 to 21 180,414 (117,181) 179,889 (112,890) Unpatented technology 10 to 30 31,571 (26,344) 31,487 (25,177) Trademarks 5 to 20 12,457 (11,927) 12,426 (11,441) Trademarks Indefinite 10,981 — 10,836 — Total $ 267,461 $ (179,863) $ 266,510 $ (173,346)

Segment Data

Segment Data	6 Months Ended
Segment Data	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	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 and defense, 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 aerospace and defense, 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; high temperature critical wear components, tungsten penetrators and armor solutions for aerospace and defense; and ceramics used by the packaging industry for metallization of films and papers. We combine deep metallurgical and engineering expertise with advanced manufacturing capabilities, such as 3D printing, 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.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 23,108	$ 21,899	$ 53,165	$ 50,095

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	true
Rule 10b5-1 Arrangement Terminated	true
Non-Rule 10b5-1 Arrangement Terminated	true

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Financial instruments at fair value on recurring basis	As of December 31, 2023, 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) $ — $ 100 $ — $ 100 Total assets at fair value $ — $ 100 $ — $ 100 Liabilities: Derivatives (1) $ — $ 36 $ — $ 36 Total liabilities at fair value $ — $ 36 $ — $ 36 As of June 30, 2023, 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) $ — $ 68 $ — $ 68 Total assets at fair value $ — $ 68 $ — $ 68 Liabilities: Derivatives (1) $ — $ 100 $ — $ 100 Total liabilities at fair value $ — $ 100 $ — $ 100 (1) Currency derivatives are valued based on observable market spot and forward rates and are classified within Level 2 of the fair value hierarchy.

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
Derivative Instruments and Hedging Activities (Tables)	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of derivatives	(in thousands) December 31, 2023 June 30, 2023 Derivatives designated as hedging instruments Other current assets - range forward contracts $ 80 $ — Other current liabilities - range forward contracts (1) — Total derivatives designated as hedging instruments 79 — Derivatives not designated as hedging instruments Other current assets - currency forward contracts $ 20 $ 68 Other current liabilities - currency forward contracts (35) (100) Total derivatives not designated as hedging instruments (15) (32) Total derivatives $ 64 $ (32)
(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 December 31, Six Months Ended December 31, (in thousands) 2023 2022 2023 2022 Other (income) expense, net - currency forward contracts $ (93) $ (197) $ 29 $ (503)
Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location	As of December 31, 2023, the foreign currency-denominated intercompany loans payable designated as net investment hedges consisted of: Instrument Notional (EUR and CNY in thousands) (2) Notional (USD in thousands) (2) Maturity Foreign currency-denominated intercompany loan payable € 10,058 $ 11,113 June 2024 Foreign currency-denominated intercompany loan payable ¥ 109,878 $ 15,472 November 2024 (2) Includes principal and accrued interest.

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
Restructuring (Tables)	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost	As of December 31, 2023, $6.5 million and $2.2 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, 2023, $9.4 million and $0.5 million of the restructuring accrual was recorded in other current liabilities and other liabilities, respectively. The amounts are as follows: (in thousands) June 30, 2023 Expense Translation Cash Expenditures December 31, 2023 Severance $ 9,885 $ 4,726 $ 105 $ (6,049) $ 8,667 Total $ 9,885 $ 4,726 $ 105 $ (6,049) $ 8,667

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
Stock-Based Compensation (Tables)	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Changes in stock options	Changes in our stock options for the six months ended December 31, 2023 were as follows: Options Weighted Average Exercise Price Weighted Average Remaining Life (years) Aggregate Intrinsic value (in thousands) Options outstanding, June 30, 2023 217,614 $ 37.29 Exercised — — Lapsed or forfeited (52,304) 45.24 Options outstanding, December 31, 2023 165,310 $ 34.78 1.3 $ 69 Options vested, December 31, 2023 165,310 $ 34.78 1.3 $ 69 Options exercisable, December 31, 2023 165,310 $ 34.78 1.3 $ 69
Changes in time vesting and performance vesting restricted stock units	Changes in our performance vesting and time vesting restricted stock units for the six months ended December 31, 2023 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, 2023 483,481 $ 31.68 1,207,442 $ 30.26 Granted 270,911 25.99 711,635 25.84 Vested (176,508) 51.12 (599,580) 31.14 Performance metric adjustments, net 37,378 38.45 — — Forfeited (56,946) 46.26 (24,070) 27.85 Unvested, December 31, 2023 558,316 $ 21.74 1,295,427 $ 27.47

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	6 Months Ended
Pension and Other Postretirement Benefits (Tables)	Dec. 31, 2023
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic pension (income)	The table below summarizes the components of net periodic pension income: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2023 2022 2023 2022 Service cost $ 293 $ 235 $ 590 $ 474 Interest cost 8,857 8,002 17,764 16,042 Expected return on plan assets (11,125) (9,983) (22,286) (20,008) Amortization of transition obligation 19 20 38 41 Amortization of prior service (credit) cost (1) 2 (2) 4 Recognition of actuarial losses 1,428 1,092 2,872 2,197 Net periodic pension income $ (529) $ (632) $ (1,024) $ (1,250)
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic pension (income)	The table below summarizes the components of net periodic other postretirement benefit cost: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2023 2022 2023 2022 Interest cost $ 106 $ 104 $ 212 $ 209 Amortization of prior service credit (63) (68) (127) (136) Recognition of actuarial loss 35 48 71 96 Net periodic other postretirement benefit cost $ 78 $ 84 $ 156 $ 169

Inventories (Tables)

Inventories (Tables)	6 Months Ended
Inventories (Tables)	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: (in thousands) December 31, 2023 June 30, 2023 Finished goods $ 353,254 $ 328,094 Work in process and powder blends 221,872 233,346 Raw materials 80,746 81,552 Inventories at current cost 655,872 642,992 Less: LIFO valuation (85,087) (85,362) Total inventories $ 570,785 $ 557,630

Earnings Per Share (Tables) (Ta

Earnings Per Share (Tables) (Tables)	6 Months Ended
Earnings Per Share (Tables) (Tables)	Dec. 31, 2023
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 six months ended December 31, 2023 and 2022: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2023 2022 2023 2022 Weighted-average shares outstanding during the period 79,700 80,737 79,863 81,141 Add: Unexercised stock options and unvested restricted stock units 414 500 532 536 Number of shares on which diluted earnings per share is calculated 80,114 81,237 80,395 81,677 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 588 1,388 472 1,373

Equity (Tables)

Equity (Tables)	3 Months Ended	6 Months Ended
Equity (Tables)	Dec. 31, 2023	Dec. 31, 2023
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 ended December 31, 2023 and 2022 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 September 30, 2023 $ 99,773 $ 453,385 $ 1,138,712 $ (431,512) $ 38,393 $ 1,298,751 Net income — — 23,108 1,220 24,328 Other comprehensive income — — — 30,191 668 30,859 Dividend reinvestment 2 43 — 45 Capital stock issued under employee benefit and stock plans (3) 80 4,979 — 5,059 Purchase of capital stock (784) (14,245) — (15,029) Cash dividends ($0.20 per share) — — (15,909) — — (15,909) Total equity, December 31, 2023 $ 99,071 $ 444,162 $ 1,145,911 $ (401,321) $ 40,281 $ 1,328,104 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 September 30, 2022 $ 101,095 $ 478,930 $ 1,082,575 $ (461,197) $ 36,942 $ 1,238,345 Net income — — 21,899 — 1,025 22,924 Other comprehensive income — — — 49,021 1,067 50,088 Dividend reinvestment 2 45 — — — 47 Capital stock issued under employee benefit and stock plans (3) 131 4,453 — — — 4,584 Purchase of capital stock (587) (10,105) — — — (10,692) Cash dividends ($0.20 per share) — — (16,095) — — (16,095) Total equity, December 31, 2022 $ 100,641 $ 473,323 $ 1,088,379 $ (412,176) $ 39,034 $ 1,289,201 (3) Net of restricted stock units delivered upon vesting to satisfy tax withholding requirements.	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, 2023 $ 99,794 $ 465,406 $ 1,124,590 $ (414,343) $ 38,721 $ 1,314,168 Net income — — $ 53,165 — 1,532 54,697 Other comprehensive income — — — 13,022 28 13,050 Dividend reinvestment 5 85 — — — 90 Capital stock issued under employee benefit and stock plans (3) 689 6,008 — — — 6,697 Purchase of capital stock (1,417) (27,337) — — — (28,754) Cash dividends ($0.40 per share) — — (31,844) — (31,844) Total equity, December 31, 2023 $ 99,071 $ 444,162 $ 1,145,911 $ (401,321) $ 40,281 $ 1,328,104 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, 2022 $ 101,671 $ 494,202 $ 1,070,655 $ (413,951) $ 38,670 $ 1,291,247 Net income — — $ 50,095 — 2,466 52,561 Other comprehensive income (loss) — — — 1,775 (698) 1,077 Dividend reinvestment 4 — 89 — — — 93 Capital stock issued under employee benefit and stock plans (3) 585 7,481 — — — 8,066 Purchase of capital stock (1,619) (28,449) — — — (30,068) Cash dividends ($0.40 per share) — — (32,371) — — (32,371) Cash dividends to non-controlling interests — — — — (1,404) (1,404) Total equity, December 31, 2022 $ 100,641 $ 473,323 $ 1,088,379 $ (412,176) $ 39,034 $ 1,289,201 (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. On February 2, 2024, the Board of Directors of the Company authorized an additional share repurchase program. The Company intends to repurchase up to an additional $200 million of Kennametal common stock over a three-year period. The Company expects to fund repurchases through cash generated from operations.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
Accumulated Other Comprehensive Loss (Tables)	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Components of, and changes in accumulated other comprehensive loss	The components of, and changes in, accumulated other comprehensive loss (AOCL) were as follows, net of tax, for the six months ended December 31, 2023: (in thousands) Pension and other postretirement benefits Currency translation adjustment Derivatives Total Attributable to Kennametal: Balance, June 30, 2023 $ (215,435) $ (202,641) $ 3,733 $ (414,343) Other comprehensive (loss) income before reclassifications (235) 11,576 (59) 11,282 Amounts reclassified from AOCL 2,125 (385) 1,740 Net other comprehensive income (loss) 1,890 11,576 (444) 13,022 AOCL, December 31, 2023 $ (213,545) $ (191,065) $ 3,289 $ (401,321) Attributable to noncontrolling interests: Balance, June 30, 2023 $ — $ (8,139) $ — $ (8,139) Other comprehensive income before reclassifications — 28 — 28 Net other comprehensive income — 28 — 28 AOCL, December 31, 2023 $ — $ (8,111) $ — $ (8,111) The components of, and changes in, AOCL were as follows, net of tax, for the six months ended December 31, 2022: (in thousands) Pension and other postretirement benefits Currency translation adjustment Derivatives Total Attributable to Kennametal: Balance, June 30, 2022 $ (208,406) $ (210,048) $ 4,503 $ (413,951) Other comprehensive (loss) income before reclassifications (47) 568 — 521 Amounts reclassified from AOCL 1,639 — (385) 1,254 Net other comprehensive income (loss) 1,592 568 (385) 1,775 AOCL, December 31, 2022 $ (206,814) $ (209,480) $ 4,118 $ (412,176) Attributable to noncontrolling interests: Balance, June 30, 2022 $ — $ (7,547) $ — $ (7,547) Other comprehensive loss before reclassifications — (698) — (698) Net other comprehensive loss — (698) — (698) AOCL, December 31, 2022 $ — $ (8,245) $ — $ (8,245)
Reclassification out of Accumulated Other Comprehensive Loss	Reclassifications out of AOCL for the three and six months ended December 31, 2023 and 2022 consisted of the following: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2023 2022 2023 2022 Affected line item in the Income Statement Gains on cash flow hedges: Forward starting interest rate swaps $ (255) $ (255) $ (511) $ (511) Interest expense Total before tax (255) (255) (511) (511) Tax impact 63 63 126 126 Provision for income taxes Net of tax $ (192) $ (192) $ (385) $ (385) Pension and other postretirement benefits: Amortization of transition obligations $ 19 $ 20 $ 38 $ 41 Other (income) expense, net Amortization of prior service credit (64) (66) (129) (132) Other (income) expense, net Recognition of actuarial losses 1,463 1,140 2,943 2,293 Other (income) expense, net Total before tax 1,418 1,094 2,852 2,202 Tax impact (347) (262) (727) (563) Provision for income taxes Net of tax $ 1,071 $ 832 $ 2,125 $ 1,639
Income Tax Allocated to Each Component of Other Comprehensive Income [Table Text Block]	The amount of income tax allocated to each component of other comprehensive income for the three months ended December 31, 2023 and 2022 were as follows: 2023 2022 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Unrealized loss on derivatives designated and qualified as cash flow hedges $ (78) $ 19 $ (59) $ — $ — $ — Reclassification of unrealized gain on derivatives designated and qualified as cash flow hedges (255) 63 (192) (255) 63 (192) Unrecognized net pension and other postretirement benefit plans loss (2,378) 626 (1,752) (4,564) 1,193 (3,371) Reclassification of net pension and other postretirement benefit plans loss 1,418 (347) 1,071 1,094 (262) 832 Foreign currency translation adjustments 31,681 110 31,791 52,675 144 52,819 Other comprehensive income $ 30,388 $ 471 $ 30,859 $ 48,950 $ 1,138 $ 50,088 The amount of income tax allocated to each component of other comprehensive income for the six months ended December 31, 2023 and 2022 were as follows: 2023 2022 (in thousands) Pre-tax Tax impact Net of tax Pre-tax Tax impact Net of tax Unrealized loss on derivatives designated and qualified as cash flow hedges $ (78) $ 19 $ (59) $ — $ — $ — Reclassification of unrealized gain on derivatives designated and qualified as cash flow hedges (511) 126 (385) (511) 126 (385) Unrecognized net pension and other postretirement benefit plans loss (331) 96 (235) (85) 38 (47) Reclassification of net pension and other postretirement benefit plans loss 2,852 (727) 2,125 2,202 (563) 1,639 Foreign currency translation adjustments 11,494 110 11,604 (124) (6) (130) Other comprehensive income $ 13,426 $ (376) $ 13,050 $ 1,482 $ (405) $ 1,077

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
Goodwill and Other Intangible Assets (Tables)	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
The carrying amount of goodwill	During the three months ended December 31, 2023, the Company completed an immaterial business combination for total consideration of approximately $6.5 million. Goodwill of approximately $3.6 million was recorded in the Metal Cutting segment as a result of the acquisition. 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 $ 447,212 $ 633,211 $ 1,080,423 Accumulated impairment losses (177,661) (633,211) (810,872) Balance as of June 30, 2023 $ 269,551 $ — $ 269,551 Activity for the six months ended December 31, 2023: Acquisition 3,639 — 3,639 Change in gross goodwill due to translation 2,726 — 2,726 Gross goodwill 453,577 633,211 1,086,788 Accumulated impairment losses (177,661) (633,211) (810,872) Balance as of December 31, 2023 $ 275,916 $ — $ 275,916
The components of intangible assets	The components of our other intangible assets were as follows: Estimated December 31, 2023 June 30, 2023 (in thousands) Gross Carrying Accumulated Gross Carrying Accumulated Technology-based and other 4 to 20 $ 32,038 $ (24,411) $ 31,872 $ (23,838) Customer-related 10 to 21 180,414 (117,181) 179,889 (112,890) Unpatented technology 10 to 30 31,571 (26,344) 31,487 (25,177) Trademarks 5 to 20 12,457 (11,927) 12,426 (11,441) Trademarks Indefinite 10,981 — 10,836 — Total $ 267,461 $ (179,863) $ 266,510 $ (173,346)

Segment Data (Tables)

Segment Data (Tables)	6 Months Ended
Segment Data (Tables)	Dec. 31, 2023
Segment Reporting [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table presents Kennametal's revenue disaggregated by geography: Three Months Ended December 31, 2023 December 31, 2022 (in percentages) Metal Cutting Infrastructure Total Kennametal Metal Cutting Infrastructure Total Kennametal Americas 43% 57% 48% 44% 60% 50% Europe, the Middle East and Africa (EMEA) 38 19 31 36 18 29 Asia Pacific 19 24 21 20 22 21 Six Months Ended December 31, 2023 December 31, 2022 (in percentages) Metal Cutting Infrastructure Total Kennametal Metal Cutting Infrastructure Total Kennametal Americas 44% 58% 49% 44% 61% 51% EMEA 37 19 31 35 17 27 Asia Pacific 19 23 20 21 22 22 To better align with the Company's strategic goals and initiatives, certain of the end markets that are reported externally and used to analyze sales performance were redefined beginning in the fourth quarter of fiscal 2023. The changes include 1.) defense sales were moved from general engineering and are now combined with aerospace sales for a new "aerospace and defense" end market, 2.) certain Metal Cutting sales have been reclassified from general engineering to the aerospace and defense end market, and 3.) Infrastructure's ceramics sales have been reclassified from energy to the general engineering end market. The fiscal 2023 period has been retrospectively restated to align with the new end markets. The following tables presents Kennametal's revenue disaggregated by end market: Three Months Ended December 31, 2023 (in percentages) Metal Cutting Infrastructure Total Kennametal General engineering 54% 34% 47% Transportation 27 — 17 Aerospace & Defense 12 6 10 Energy 7 23 13 Earthworks — 37 13 Three Months Ended December 31, 2022 (in percentages) Metal Cutting Infrastructure Total Kennametal General engineering 55% 35% 47% Transportation 27 — 16 Aerospace & Defense 11 7 9 Energy 7 22 14 Earthworks — 36 14 Six Months Ended December 31, 2023 (in percentages) Metal Cutting Infrastructure Total Kennametal General engineering 54% 34% 47% Transportation 27 — 17 Aerospace & Defense 12 6 9 Energy 7 23 13 Earthworks — 37 14 Six Months Ended December 31, 2022 (in percentages) Metal Cutting Infrastructure Total Kennametal General engineering 55% 35% 47% Transportation 27 — 16 Aerospace & Defense 11 5 9 Energy 7 24 14 Earthworks — 36 14
Sales and operating income (loss) by segment and segment assets	Our sales and operating income by segment are as follows: Three Months Ended December 31, Six Months Ended December 31, (in thousands) 2023 2022 2023 2022 Sales: Metal Cutting $ 311,445 $ 299,469 $ 619,675 $ 599,405 Infrastructure 183,875 197,652 368,121 392,508 Total sales $ 495,320 $ 497,121 $ 987,796 $ 991,913 Operating income: Metal Cutting $ 25,527 $ 26,222 $ 57,644 $ 54,828 Infrastructure 3,236 10,097 16,880 30,884 Corporate (284) (828) (927) (1,696) Total operating income 28,479 35,491 73,597 84,016 Interest expense 6,847 7,015 13,447 13,652 Other (income) expense, net (687) 588 (597) 1,597 Income before income taxes $ 22,319 $ 27,888 $ 60,747 $ 68,767

Supplier Finance Program (Detai

Supplier Finance Program (Details) - USD ($) $ in Millions	Dec. 31, 2023	Jun. 30, 2023
Payables and Accruals [Abstract]
Supplier Finance Program, Obligation	$ 24.2	$ 20.7

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets	$ 100	$ 68
Total assets at fair value	100	68
Derivatives Liabilities	36	100
Total liabilities at fair value	36	100
Fair Value, Recurring [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives Assets	100	68
Total assets at fair value	100	68
Derivatives Liabilities	36	100
Total liabilities at fair value	$ 36	$ 100

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	Dec. 31, 2023	Jun. 30, 2023
Fair value of derivatives
Derivative, Fair Value, Net	$ 64	$ (32)
Not Designated as Hedging Instrument [Member]
Fair value of derivatives
Derivative, Fair Value, Net	(15)	(32)
Designated as Hedging Instrument [Member]
Fair value of derivatives
Derivative, Fair Value, Net	79	0
Currency Forward Contracts [Member] \| Not Designated as Hedging Instrument [Member] \| Other Current Assets [Member]
Fair value of derivatives
Derivative assets designated as hedging instruments	20	68
Currency Forward Contracts [Member] \| Not Designated as Hedging Instrument [Member] \| Other Current Liabilities [Member]
Fair value of derivatives
Derivative liabilities designated as hedging instruments	(35)	(100)
Range Forward Contracts [Member] \| Not Designated as Hedging Instrument [Member] \| Other Current Liabilities [Member]
Fair value of derivatives
Derivative liabilities designated as hedging instruments	1	0
Range Forward Contracts [Member] \| Designated as Hedging Instrument [Member] \| Other Current Assets [Member]
Fair value of derivatives
Derivative assets designated as hedging instruments	$ 80	$ 0

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Gains and Losses Related to Derivatives Not Designated as Hedging Instruments and to Cash Flow Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax	$ 300	$ 400	$ 300	$ 1,300
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	$ (93)	$ (197)	$ 29	$ (503)

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities (Details Textual) € in Thousands, ¥ in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 CNY (¥)	Jun. 30, 2023 USD ($)
Derivatives, Fair Value [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net	$ 0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	(59)	$ 0	$ (59)	$ 0
Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative, Amount of Hedged Item					€ 10,100	¥ 109,900	$ 0
Range Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	35,400		35,400				$ 0
Net Investment Hedge Maturing June 2024
Derivatives, Fair Value [Line Items]
Derivative Asset, Notional Amount	11,113,000		11,113,000		€ 10,058,000
Net Investment Hedge Maturing November 2024
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	15,472,000		15,472,000			¥ 109,878,000
Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax	300	400	300	1,300
Cash Flow Hedging [Member] \| Range Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	$ (59)	$ 0	$ (59)	$ 0

Restructuring and Related Cha_2

Restructuring and Related Charges - Restructuring Accrual (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2023 USD ($)
Restructuring Reserve [Abstract]
Beginning Balance	$ 9,885
Restructuring Charges	4,726
Translation	105
Cash Expenditures	(6,049)
Ending Balance	8,667
Severance [Member]
Restructuring Reserve [Abstract]
Beginning Balance	9,885
Restructuring Charges	4,726
Translation	105
Cash Expenditures	(6,049)
Ending Balance	$ 8,667

Restructuring and Related Cha_3

Restructuring and Related Charges - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 8,667,000		$ 8,667,000		$ 9,885,000
Restructuring and Related Cost, Incurred Cost	1,000,000	$ 0	4,700,000
Restructuring Charges			4,726,000
Proceeds from Sale, Property, Held-for-Sale	600,000			$ 1.5
Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	300,000		1,500,000
Metal Cutting
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	700,000		3,200,000
FY24 Restructuring Actions
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	12,100,000		12,100,000
FY24 Restructuring Actions \| Infrastructure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	2,900,000		2,900,000
FY24 Restructuring Actions \| Metal Cutting
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	9,200,000		9,200,000
FY24 Restructuring Actions-Target
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	25		25
Other Current Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	6,500,000		6,500,000		9,400,000
Other Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 2,200,000		$ 2,200,000		$ 500,000

Stock-Based Compensation - Chan

Stock-Based Compensation - Changes in Stock Options (Details)	6 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Changes in stock options
Options outstanding, Beginning \| shares	217,614
Options, Exercised \| shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period \| shares	(52,304)
Options outstanding, Ending \| shares	165,310
Options vested and expected to vest, Ending \| shares	165,310
Options exercisable, Ending \| shares	165,310
Weighted Average Exercise Price, Options outstanding, Beginning \| $ / shares	$ 37.29
Weighted Average Exercise Price, Exercised \| $ / shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price \| $ / shares	45.24
Weighted Average Exercise Price, Options outstanding, Ending \| $ / shares	34.78
Weighted Average Exercise Price, Option vested and expected to vest, September 30, 2022 \| $ / shares	34.78
Weighted Average Exercise Price, Options exercisable, Ending \| $ / shares	$ 34.78
Weighted Average Remaining Life, Options exercisable, Ending	1 year 3 months 18 days
Aggregate Intrinsic value, Options outstanding, Ending \| $	$ 69,000
Aggregate Intrinsic Value, Options vested and expected to vest, Ending \| $	69,000
Aggregate Intrinsic Value, Options exercisable, Ending \| $	$ 69,000

Stock-Based Compensation - Ch_2

Stock-Based Compensation - Changes in Restricted Stock Units (Details)	6 Months Ended
	Dec. 31, 2023 $ / shares shares
Restricted Stock Units - Performance Vesting [Member]
Changes in restricted stock awards
Unvested restricted stock awards, Beginning \| shares	483,481
Granted, Shares \| shares	270,911
Vested, Shares \| shares	(176,508)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations \| shares	37,378
Forfeited, Shares \| shares	(56,946)
Unvested restricted stock awards, Ending \| shares	558,316
Weighted Average Fair Value, Unvested restricted stock awards, Beginning \| $ / shares	$ 31.68
Weighted Average Fair Value, Granted \| $ / shares	25.99
Weighted Average Fair Value, Vested \| $ / shares	51.12
Share-based Compensation Arrangements by Share-based Payment Award, Options, Other Share Increase (Decrease) in Period, Weighted Average Exercise Price \| $ / shares	38.45
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value \| $ / shares	46.26
Weighted Average Fair Value, Unvested restricted stock awards, Ending \| $ / shares	$ 21.74
Restricted Stock Units - Time Vesting [Member]
Changes in restricted stock awards
Unvested restricted stock awards, Beginning \| shares	1,207,442
Granted, Shares \| shares	711,635
Vested, Shares \| shares	(599,580)
Performance metric adjustments, net, Shares \| shares	0
Forfeited, Shares \| shares	(24,070)
Unvested restricted stock awards, Ending \| shares	1,295,427
Weighted Average Fair Value, Unvested restricted stock awards, Beginning \| $ / shares	$ 30.26
Weighted Average Fair Value, Granted \| $ / shares	25.84
Weighted Average Fair Value, Vested \| $ / shares	31.14
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	27.85
Weighted Average Fair Value, Unvested restricted stock awards, Ending \| $ / shares	$ 27.47

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Textual) - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Stock Option [Member]
Stock-Based Compensation (Textual) [Abstract]
Unrecognized compensation cost	$ 0
Total Intrinsic value of options exercised	0
Proceeds from Stock Options Exercised	0
Restricted Stock Units (RSUs) [Member]
Stock-Based Compensation (Textual) [Abstract]
Compensation expense related to time vesting and performance vesting restricted stock units	14	$ 13.1
Unrecognized compensation cost	$ 33.7
Unrecognized compensation costs, weighted average period	1 year 9 months 18 days

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits - Components of Net Periodic Pension Income (Details) - Pension plans contribution [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Net periodic pension income
Service cost	$ 293	$ 235	$ 590	$ 474
Interest cost	8,857	8,002	17,764	16,042
Expected return on plan assets	(11,125)	(9,983)	(22,286)	(20,008)
Amortization of transition obligation	19	20	38	41
Amortization of prior service cost (credit)	(1)	2	(2)	4
Recognition of actuarial losses	1,428	1,092	2,872	2,197
Net periodic pension income	$ (529)	$ (632)	$ (1,024)	$ (1,250)

Pension and Other Postretirem_4

Pension and Other Postretirement Benefits - Components of Net Periodic Other Postretirement Benefit Cost (Details) - Other postretirement benefit plans [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Net periodic other postretirement benefit costs
Interest cost	$ 106	$ 104	$ 212	$ 209
Amortization of prior service credit	(63)	(68)	(127)	(136)
Recognition of actuarial loss	35	48	71	96
Net periodic other postretirement benefit cost	$ 78	$ 84	$ 156	$ 169

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Inventories
Finished goods	$ 353,254	$ 328,094
Work in process and powder blends	221,872	233,346
Raw materials	80,746	81,552
Inventories at current cost	655,872	642,992
Less: LIFO valuation	(85,087)	(85,362)
Total inventories	$ 570,785	$ 557,630
Inventories (Textual) [Abstract]
Percentage of inventories valued by using LIFO method	32%	33%

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023	Jun. 07, 2018
Long-Term Debt (Additional Textual) [Abstract]
Fixed rate at fair market value	$ 546,400,000	$ 527,400,000
Notes Payable	2,800,000	700,000
2018 Credit Agreement [Member]
Long-Term Debt (Textual) [Abstract]
Line of Credit Facility, Remaining Borrowing Capacity	679,500,000
Borrowing outstanding under 2018 Credit Agreement	20,500,000	$ 0
Line of Credit Facility, Maximum Borrowing Capacity			$ 700,000,000
Line of Credit [Member]
Long-Term Debt (Textual) [Abstract]
Net Debt to EBITDA Ratio, Maximum	3.75
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	Dec. 31, 2023	Jun. 30, 2023
Environmental Remediation Obligations [Abstract]
Reserves for Environmental Costs	$ 11.3	$ 12
Accrued Environmental Loss Contingencies, Current	$ 1.5	$ 1.7

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Taxes - Additional Information [Line Items]
Discrete Benefit for Swiss Tax Reform	$ 7,800,000	$ 2,200,000	$ 7,800,000	$ 2,200,000
Unrecognized Tax Benefits	6,200,000		6,200,000
Litigation Settlement [Abstract]
Litigation Settlement, Expense			2,900,000
Provision for income taxes	$ (2,009,000)	$ 4,964,000	$ 6,050,000	$ 16,206,000
Income Tax (Textual) [Abstract]
Effective tax rate	(9.00%)	17.80%	10%	23.60%

Earnings Per Shares (Details)

Earnings Per Shares (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
Earnings Per Shares (Details) - shares shares in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted Average Number of Shares Outstanding, Basic	79,700	80,737	79,863	81,141
Earnings Per Share (Textual) [Abstract]
Increase in weighted average shares due to dilutive effect of unexercised capital stock options and unvested restricted stock units	414	500	532	536
Weighted Average Number of Shares Outstanding, Diluted	80,114	81,237	80,395	81,677
Unexercised capital stock options and restricted stock units excluded from computation of diluted EPS	588	1,388	472	1,373

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Equity (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Beginning Balance	$ 1,298,751	$ 1,238,345	$ 1,314,168	$ 1,291,247
Net income	24,328	22,924	54,697	52,561
Other comprehensive income (loss)	30,859	50,088	13,050	1,077
Dividend reinvestment	45	47	90	93
Capital stock issued under employee benefit and stock plans	5,059	4,584	6,697	8,066
Purchase of capital stock	(15,029)	(10,692)	(28,754)	(30,068)
Cash dividends	(15,909)	(16,095)	(31,844)	(32,371)
Ending Balance	1,328,104	1,289,201	$ 1,328,104	1,289,201
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares to be Repurchased Next Year			200
Capital stock [Member]
Beginning Balance	99,773	101,095	$ 99,794	101,671
Dividend reinvestment	2	2	5	4
Capital stock issued under employee benefit and stock plans	80	131	689	585
Purchase of capital stock	(784)	(587)	(1,417)	(1,619)
Ending Balance	99,071	100,641	99,071	100,641
Additional paid-in capital [Member]
Beginning Balance	453,385	478,930	465,406	494,202
Dividend reinvestment	43	45	85	89
Capital stock issued under employee benefit and stock plans	4,979	4,453	6,008	7,481
Purchase of capital stock	(14,245)	(10,105)	(27,337)	(28,449)
Ending Balance	444,162	473,323	444,162	473,323
Retained earnings [Member]
Beginning Balance	1,138,712	1,082,575	1,124,590	1,070,655
Net income	23,108	21,899	53,165	50,095
Cash dividends	(15,909)	(16,095)	(31,844)	(32,371)
Ending Balance	1,145,911	1,088,379	1,145,911	1,088,379
Accumulated other comprehensive loss [Member]
Beginning Balance	(431,512)	(461,197)	(414,343)	(413,951)
Other comprehensive income (loss)	30,191	49,021	13,022	1,775
Ending Balance	(401,321)	(412,176)	(401,321)	(412,176)
Non-controlling interest [Member]
Beginning Balance	38,393	36,942	38,721	38,670
Net income	1,220	1,025	1,532	2,466
Other comprehensive income (loss)	668	1,067	28	(698)
Cash dividends				(1,404)
Ending Balance	$ 40,281	$ 39,034	$ 40,281	$ 39,034

Equity details textual (Details

Equity details textual (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2022
Equity [Abstract]
Dividends per share	$ 0.20	$ 0.20	$ 0.4	$ 0.4
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,328,104	$ 1,289,201	$ 1,328,104	$ 1,289,201	$ 1,298,751	$ 1,314,168	$ 1,238,345	$ 1,291,247
Net income	24,328	22,924	54,697	52,561
Other comprehensive income (loss), net of tax	30,859	50,088	13,050	1,077
Stock Issued During Period, Value, Dividend Reinvestment Plan	45	47	90	93
Stock Issued During Period, Value, Employee Benefit Plan	5,059	4,584	6,697	8,066
Stock Repurchased During Period, Value	(15,029)	(10,692)	(28,754)	(30,068)
Dividends, Common Stock, Cash	(15,909)	(16,095)	(31,844)	(32,371)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,328,104	1,289,201	1,328,104	1,289,201	1,298,751	1,314,168	1,238,345	1,291,247
Net income	24,328	22,924	54,697	52,561
Other comprehensive income (loss), net of tax	30,859	50,088	13,050	1,077
Stock Issued During Period, Value, Dividend Reinvestment Plan	45	47	90	93
Stock Issued During Period, Value, Employee Benefit Plan	5,059	4,584	6,697	8,066
Stock Repurchased During Period, Value	15,029	10,692	28,754	30,068
Dividends, Common Stock, Cash	$ 15,909	$ 16,095	$ 31,844	$ 32,371
Dividends per share	$ 0.20	$ 0.20	$ 0.4	$ 0.4
Common Stock [Member]
Equity [Abstract]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 99,071	$ 100,641	$ 99,071	$ 100,641	99,773	99,794	101,095	101,671
Stock Issued During Period, Value, Dividend Reinvestment Plan	2	2	5	4
Stock Issued During Period, Value, Employee Benefit Plan	80	131	689	585
Stock Repurchased During Period, Value	(784)	(587)	(1,417)	(1,619)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	99,071	100,641	99,071	100,641	99,773	99,794	101,095	101,671
Stock Issued During Period, Value, Dividend Reinvestment Plan	2	2	5	4
Stock Issued During Period, Value, Employee Benefit Plan	80	131	689	585
Stock Repurchased During Period, Value	784	587	1,417	1,619
Additional Paid-in Capital [Member]
Equity [Abstract]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	444,162	473,323	444,162	473,323	453,385	465,406	478,930	494,202
Stock Issued During Period, Value, Dividend Reinvestment Plan	43	45	85	89
Stock Issued During Period, Value, Employee Benefit Plan	4,979	4,453	6,008	7,481
Stock Repurchased During Period, Value	(14,245)	(10,105)	(27,337)	(28,449)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	444,162	473,323	444,162	473,323	453,385	465,406	478,930	494,202
Stock Issued During Period, Value, Dividend Reinvestment Plan	43	45	85	89
Stock Issued During Period, Value, Employee Benefit Plan	4,979	4,453	6,008	7,481
Stock Repurchased During Period, Value	14,245	10,105	27,337	28,449
Retained Earnings [Member]
Equity [Abstract]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,145,911	1,088,379	1,145,911	1,088,379	1,138,712	1,124,590	1,082,575	1,070,655
Net income	23,108	21,899	53,165	50,095
Dividends, Common Stock, Cash	(15,909)	(16,095)	(31,844)	(32,371)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,145,911	1,088,379	1,145,911	1,088,379	1,138,712	1,124,590	1,082,575	1,070,655
Net income	23,108	21,899	53,165	50,095
Dividends, Common Stock, Cash	15,909	16,095	31,844	32,371
AOCI Attributable to Parent [Member]
Equity [Abstract]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(401,321)	(412,176)	(401,321)	(412,176)	(431,512)	(414,343)	(461,197)	(413,951)
Other comprehensive income (loss), net of tax	30,191	49,021	13,022	1,775
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(401,321)	(412,176)	(401,321)	(412,176)	(431,512)	(414,343)	(461,197)	(413,951)
Other comprehensive income (loss), net of tax	30,191	49,021	13,022	1,775
Noncontrolling Interest [Member]
Equity [Abstract]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	40,281	39,034	40,281	39,034	38,393	38,721	36,942	38,670
Net income	1,220	1,025	1,532	2,466
Other comprehensive income (loss), net of tax	668	1,067	28	(698)
Dividends, Common Stock, Cash				(1,404)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	40,281	39,034	40,281	39,034	$ 38,393	$ 38,721	$ 36,942	$ 38,670
Net income	1,220	1,025	1,532	2,466
Other comprehensive income (loss), net of tax	$ 668	$ 1,067	$ 28	(698)
Dividends, Common Stock, Cash				$ 1,404

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Components of and Changes in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			$ (414,343)	$ (413,951)
Other comprehensive (loss) income before reclassifications			11,282	521
Amounts reclassified from accumulated other comprehensive loss			1,740	1,254
Net current period other comprehensive (loss) income			13,022	1,775
Accumulated Other Comprehensive Loss, Net of Tax	$ (401,321)	$ (412,176)	(401,321)	(412,176)
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			(215,435)	(208,406)
Other comprehensive (loss) income before reclassifications			(235)	(47)
Amounts reclassified from accumulated other comprehensive loss			2,125	1,639
Net current period other comprehensive (loss) income			1,890	1,592
Accumulated Other Comprehensive Loss, Net of Tax	(213,545)	(206,814)	(213,545)	(206,814)
Accumulated Currency Translation Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			(202,641)	(210,048)
Other comprehensive (loss) income before reclassifications			11,576	568
Amounts reclassified from accumulated other comprehensive loss				0
Net current period other comprehensive (loss) income			11,576	568
Accumulated Other Comprehensive Loss, Net of Tax	(191,065)	(209,480)	(191,065)	(209,480)
Accumulated Net (Loss) Gain from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			3,733	4,503
Other comprehensive (loss) income before reclassifications			(59)	0
Amounts reclassified from accumulated other comprehensive loss			(385)	(385)
Net current period other comprehensive (loss) income			(444)	(385)
Accumulated Other Comprehensive Loss, Net of Tax	3,289	4,118	3,289	4,118
Noncontrolling Interest [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Accumulated Other Comprehensive Loss, Net of Tax			(8,139)	(7,547)
Other comprehensive (loss) income before reclassifications			28	(698)
Net current period other comprehensive (loss) income			28	(698)
Accumulated Other Comprehensive Loss, Net of Tax	(8,111)	(8,245)	(8,111)	(8,245)
Reclassification out of Accumulated Other Comprehensive Loss [Member] \| Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive (Loss) Income [Line Items]
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest	(1,418)	(1,094)	(2,852)	(2,202)
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	$ 255	$ 511	$ 511

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Loss [Line Items]
Currency exchange contracts	$ 687	$ (588)	$ 597	$ (1,597)
Recognition of actuarial losses	1,418	1,094	2,852	2,202
Provision for income taxes	(2,009)	4,964	6,050	16,206
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(255)	(255)	(511)	(511)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	63	63	126	126
Reclassification of unrealized gain on derivatives designated and qualified as cash flow hedges	(192)	(192)	(385)	(385)
Unrecognized net pension and other postretirement benefit (loss) gain, before tax	(2,378)	(4,564)	(331)	(85)
Unrecognized net pension and other postretirement benefit (loss) gain, tax	626	1,193	96	38
Unrecognized net pension and other postretirement benefit plans gain	(1,752)	(3,371)	(235)	(47)
Reclassification of net pension and other postretirement benefit loss, tax	(347)	(262)	(727)	(563)
Reclassification of net pension and other postretirement benefit loss	1,071	832	2,125	1,639
Foreign currency translation adjustments, before tax	31,681	52,675	11,494	(124)
Foreign currency translation adjustments, tax	110	144	110	(6)
Foreign currency translation adjustments	31,791	52,819	11,604	(130)
Other comprehensive income (loss), before tax	30,388	48,950	13,426	1,482
Other comprehensive income (loss), tax	471	1,138	(376)	(405)
Other comprehensive income (loss), net of tax	30,859	50,088	13,050	1,077
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	(78)	0	(78)	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	19	0	19	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	(59)	0	(59)	0
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)	(255)	(511)	(511)
Net of tax	192	192	385	385
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	63	63	126	126
Reclassification out of Accumulated Other Comprehensive Loss [Member] \| Accumulated Defined Benefit Plans Adjustment [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Loss [Line Items]
Amortization of transition obligations	19	20	38	41
Amortization of prior service credit	(64)	(66)	(129)	(132)
Recognition of actuarial losses	1,463	1,140	2,943	2,293
Total before tax	1,418	1,094	2,852	2,202
Provision for income taxes	(347)	(262)	(727)	(563)
Net of tax	(1,071)	(832)	(2,125)	(1,639)
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	$ 255	$ 511	$ 511

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Loss Other Comprehensive Income - Income Tax Allocated to Each Component (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Other Comprehensive Income - Income Tax Allocated to Each Component [Abstract]
Unrecognized net pension and other postretirement benefit (loss) gain, before tax	$ (2,378)	$ (4,564)	$ (331)	$ (85)
Unrecognized net pension and other postretirement benefit (loss) gain, tax	626	1,193	96	38
Unrecognized net pension and other postretirement benefit (loss) gain, net of tax	(1,752)	(3,371)	(235)	(47)
Reclassification of net pension and other postretirement benefit loss, before tax	1,418	1,094	2,852	2,202
Reclassification of net pension and other postretirement benefit loss, tax	(347)	(262)	(727)	(563)
Reclassification of net pension and other postretirement benefit loss	1,071	832	2,125	1,639
Foreign currency translation adjustments, before tax	31,681	52,675	11,494	(124)
Foreign currency translation adjustments, tax	110	144	110	(6)
Foreign currency translation adjustments, net of tax	31,791	52,819	11,604	(130)
Other comprehensive income (loss), before tax	30,388	48,950	13,426	1,482
Other comprehensive income (loss), tax	471	1,138	(376)	(405)
Other comprehensive income (loss), net of tax	30,859	50,088	13,050	1,077
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	63	63	126	126
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(255)	(255)	(511)	(511)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	192	192	385	385
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	(78)	0	(78)	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	(59)	0	(59)	0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	$ 19	$ 0	$ 19	$ 0

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Carrying Amount of Goodwill Attributable to Each Segment (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2023	Jun. 30, 2023
Goodwill [Roll Forward]
Gross goodwill	$ 1,086,788	$ 1,080,423
Accumulated impairment losses	(810,872)	(810,872)
Goodwill, Beginning Balance	269,551
Change in gross goodwill due to translation	2,726
Goodwill, Ending Balance	275,916
Business Combination, Price of Acquisition, Expected	3,639
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
Business Combination, Price of Acquisition, Expected	0
Metal Cutting
Goodwill [Roll Forward]
Gross goodwill	453,577	447,212
Accumulated impairment losses	(177,661)	$ (177,661)
Goodwill, Beginning Balance	269,551
Change in gross goodwill due to translation	2,726
Goodwill, Ending Balance	275,916
Business Combination, Price of Acquisition, Expected	$ 3,639

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Components of Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Jun. 30, 2023
The components of intangible assets
Accumulated amortization	$ (179,863)	$ (179,863)	$ (173,346)
Intangible Assets, Gross (Excluding Goodwill)	$ 267,461	$ 267,461	266,510
Metal Cutting
The components of intangible assets
Business Combination, Reason for Business Combination	3.6 million	6.5 million
Trademarks [Member]
The components of intangible assets
Gross carrying amount, Indefinite	$ 10,981	$ 10,981	10,836
Technology-based and other [Member]
The components of intangible assets
Gross carrying amount, finite	32,038	32,038	31,872
Accumulated amortization	(24,411)	(24,411)	(23,838)
Customer-related [Member]
The components of intangible assets
Gross carrying amount, finite	180,414	180,414	179,889
Accumulated amortization	(117,181)	(117,181)	(112,890)
Unpatented technology [Member]
The components of intangible assets
Gross carrying amount, finite	31,571	31,571	31,487
Accumulated amortization	(26,344)	(26,344)	(25,177)
Trademarks [Member]
The components of intangible assets
Gross carrying amount, finite	12,457	12,457	12,426
Accumulated amortization	$ (11,927)	$ (11,927)	$ (11,441)
Minimum [Member] \| Technology-based and other [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	4 years	4 years
Minimum [Member] \| Customer-related [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	10 years	10 years
Minimum [Member] \| Unpatented technology [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	10 years	10 years
Minimum [Member] \| Trademarks [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	5 years	5 years
Maximum [Member] \| Technology-based and other [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	20 years	20 years
Maximum [Member] \| Customer-related [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	21 years	21 years
Maximum [Member] \| Unpatented technology [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	30 years	30 years
Maximum [Member] \| Trademarks [Member]
The components of intangible assets
Useful life related to technology-based intangible assets	20 years	20 years

Segment Data - Sales and Operat

Segment Data - Sales and Operating (Loss) Income by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Segment Reporting Information [Line Items]
Assets	$ 2,544,352		$ 2,544,352		$ 2,547,234
External sales:
Sales	495,320	$ 497,121	987,796	$ 991,913
Operating (income) loss:
Total operating income	28,479	35,491	73,597	84,016
Interest expense	6,847	7,015	13,447	13,652
Other expense, net	(687)	588	(597)	1,597
Income before income taxes	22,319	27,888	60,747	68,767
Infrastructure [Member]
External sales:
Sales	183,875	197,652	368,121	392,508
Operating (income) loss:
Total operating income	(3,236)	(10,097)	(16,880)	(30,884)
Corporate [Member]
Operating (income) loss:
Total operating income	284	828	927	1,696
Metal Cutting
External sales:
Sales	311,445	299,469	619,675	599,405
Operating (income) loss:
Total operating income	$ (25,527)	$ (26,222)	$ (57,644)	$ (54,828)

Segment Data Disaggregation of

Segment Data Disaggregation of Revenue (Details)	3 Months Ended		6 Months Ended
Segment Data Disaggregation of Revenue (Details)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	47%	47%	47%	47%
Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	17%	16%	17%	16%
Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	10%	9%	9%	9%
Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	13%	14%	13%	14%
Earthworks [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	13%	14%	14%	14%
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	48%	50%	49%	51%
EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	31%	29%	31%	27%
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	21%	21%	20%	22%
Infrastructure [Member] \| General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	34%	35%	34%	35%
Infrastructure [Member] \| Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	0%	0%	0%	0%
Infrastructure [Member] \| Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	6%	7%	6%	5%
Infrastructure [Member] \| Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	23%	22%	23%	24%
Infrastructure [Member] \| Earthworks [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	37%	36%	37%	36%
Infrastructure [Member] \| Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	57%	60%	58%	61%
Infrastructure [Member] \| EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	19%	18%	19%	17%
Infrastructure [Member] \| Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	24%	22%	23%	22%
Metal Cutting \| General Engineering [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	54%	55%	54%	55%
Metal Cutting \| Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	27%	27%	27%	27%
Metal Cutting \| Aerospace [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	12%	11%	12%	11%
Metal Cutting \| Energy [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	7%	7%	7%	7%
Metal Cutting \| Earthworks [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	0%	0%	0%	0%
Metal Cutting \| Americas [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	43%	44%	44%	44%
Metal Cutting \| EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	38%	36%	37%	35%
Metal Cutting \| Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenues, percent	19%	20%	19%	21%

Uncategorized Items - kmt-20231

Label	Element	Value
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 85,586,000