| 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 three months ended September 30, 2025: | | | | | | | | | | | | | | | | (in thousands) | Pension and other postretirement benefits | Currency translation adjustment | Derivatives | Total | | Attributable to Kennametal: | | | | | Balance, June 30, 2025 | $ | (223,016) | | $ | (165,859) | | $ | 2,182 | | $ | (386,693) | | | Other comprehensive income (loss) before reclassifications | 646 | | (2,629) | | (8) | | (1,991) | | | Amounts reclassified from AOCL | 2,353 | | — | | (166) | | 2,187 | | | Net other comprehensive income (loss) | 2,999 | | (2,629) | | (174) | | 196 | | AOCL, September 30, 2025 | $ | (220,017) | | $ | (168,488) | | $ | 2,008 | | $ | (386,497) | | | | | | | | Attributable to noncontrolling interests: | | | | | Balance, June 30, 2025 | $ | — | | $ | (7,844) | | $ | — | | $ | (7,844) | | | Other comprehensive loss before reclassifications | — | | (625) | | — | | (625) | | | Net other comprehensive loss | — | | (625) | | — | | (625) | | AOCL, September 30, 2025 | $ | — | | $ | (8,469) | | $ | — | | $ | (8,469) | |
The components of, and changes in, AOCL were as follows, net of tax, for the three months ended September 30, 2024: | | | | | | | | | | | | | | | | (in thousands) | Pension and other postretirement benefits | Currency translation adjustment | Derivatives | Total | | Attributable to Kennametal: | | | | | Balance, June 30, 2024 | $ | (221,308) | | $ | (216,263) | | $ | 2,983 | | $ | (434,588) | | | Other comprehensive (loss) income before reclassifications | (2,575) | | 34,313 | | (84) | | 31,654 | | | Amounts reclassified from AOCL | 2,186 | | — | | (222) | | 1,964 | | | Net other comprehensive (loss) income | (389) | | 34,313 | | (306) | | 33,618 | | AOCL, September 30, 2024 | $ | (221,697) | | $ | (181,950) | | $ | 2,677 | | $ | (400,970) | | | | | | | | Attributable to noncontrolling interests: | | | | | Balance, June 30, 2024 | $ | — | | $ | (8,680) | | $ | — | | $ | (8,680) | | | Other comprehensive income before reclassifications | — | | 723 | | — | | 723 | | | Net other comprehensive income | — | | 723 | | — | | 723 | | AOCL, September 30, 2024 | $ | — | | $ | (7,957) | | $ | — | | $ | (7,957) | |
Reclassifications out of AOCL for the three months ended September 30, 2025 and 2024 consisted of the following: | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | | | | (in thousands) | 2025 | | 2024 | | | | | Affected line item in the Income Statement | | Gains on cash flow hedges: | | | | | | | | | | Forward starting interest rate swaps | $ | (255) | | | $ | (255) | | | | | | Interest expense | | Currency exchange contracts | 35 | | | (42) | | | | | | Cost of goods sold | | Total before tax | (220) | | | (297) | | | | | | | | Tax impact | 54 | | | 75 | | | | | | Provision for income taxes | | Net of tax | $ | (166) | | | $ | (222) | | | | | | | | | | | | | | | | | Pension and other postretirement benefits: | | | | | | | | | | Amortization of transition obligations | $ | — | | | $ | — | | | | | | Other income, net | | Amortization of prior service credit | (67) | | | (65) | | | | | | Other income, net | | Recognition of actuarial losses | 2,953 | | | 2,136 | | | | | | Other income, net | | Settlement | — | | | 837 | | | | | | Other income, net | | Total before tax | 2,886 | | | 2,908 | | | | | | | | Tax impact | (533) | | | (722) | | | | | | Provision for income taxes | | Net of tax | $ | 2,353 | | | $ | 2,186 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
The amount of income tax allocated to each component of other comprehensive (loss) income for the three months ended September 30, 2025 and 2024 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | 2025 | | | | | 2024 | | | (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 | $ | (11) | | $ | 3 | | $ | (8) | | | | $ | (112) | | $ | 28 | | $ | (84) | | | Reclassification of unrealized gain on derivatives designated and qualified as cash flow hedges | (220) | | 54 | | (166) | | | | (297) | | 75 | | (222) | | | Unrecognized net pension and other postretirement benefit plans gain (loss) | 860 | | (214) | | 646 | | | | (3,469) | | 894 | | (2,575) | | | Reclassification of net pension and other postretirement benefit plans loss | 2,886 | | (533) | | 2,353 | | | | 2,908 | | (722) | | 2,186 | | | Foreign currency translation adjustments | (3,254) | | — | | (3,254) | | | | 35,036 | | — | | 35,036 | | | | | | | | | | | | Other comprehensive (loss) income | $ | 261 | | $ | (690) | | $ | (429) | | | | $ | 34,066 | | $ | 275 | | $ | 34,341 | |
|