2013 Q2 Form 10-Q Financial Statement

#000005524213000009 Filed on May 09, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2013 Q1 2012 Q1
Revenue $671.4M $655.4M $696.4M
YoY Change -9.17% -5.89% 13.27%
Cost Of Revenue $442.7M $446.9M $450.0M
YoY Change -6.68% -0.69% 16.93%
Gross Profit $228.7M $208.5M $246.4M
YoY Change -13.65% -15.4% 7.15%
Gross Profit Margin 34.06% 31.81% 35.39%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $28.30M $29.00M $26.20M
YoY Change -5.35% 10.69% 13.42%
% of Gross Profit 12.37% 13.91% 10.63%
Operating Expenses $138.1M $128.3M $138.9M
YoY Change -6.31% -7.61% -1.7%
Operating Profit $90.61M $74.97M $103.3M
YoY Change -22.85% -27.42% 16.45%
Interest Expense -$7.000M $7.504M $8.003M
YoY Change -17.65% -6.24% -237.98%
% of Operating Profit -7.73% 10.01% 7.75%
Other Income/Expense, Net -$1.800M -$749.0K $486.0K
YoY Change 350.0% -254.12% -134.71%
Pretax Income $81.70M $66.72M $95.78M
YoY Change -24.77% -30.34% 18.83%
Income Tax $19.50M $12.34M $19.54M
% Of Pretax Income 23.87% 18.5% 20.4%
Net Earnings $60.82M $53.92M $75.50M
YoY Change -29.32% -28.59% 16.69%
Net Earnings / Revenue 9.06% 8.23% 10.84%
Basic Earnings Per Share $0.77 $0.68 $0.94
Diluted Earnings Per Share $0.76 $0.67 $0.93
COMMON SHARES
Basic Shares Outstanding 78.74M shares 79.29M shares 80.11M shares
Diluted Shares Outstanding 80.62M shares 81.54M shares

Balance Sheet

Concept 2013 Q2 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $377.3M $322.1M $125.5M
YoY Change 223.86% 156.65% -31.87%
Cash & Equivalents $377.3M $322.1M $125.5M
Short-Term Investments
Other Short-Term Assets $48.33M $48.49M $109.2M
YoY Change 0.0% -55.59% -11.86%
Inventory $578.8M $575.9M $630.9M
Prepaid Expenses
Receivables $445.3M $442.5M $481.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.499B $1.442B $1.347B
YoY Change 0.0% 7.05% 12.96%
LONG-TERM ASSETS
Property, Plant & Equipment $741.5M $728.1M $739.7M
YoY Change 0.0% -1.57% 11.25%
Goodwill $721.8M $718.8M
YoY Change 0.33%
Intangibles $222.8M $226.7M
YoY Change 0.0%
Long-Term Investments $700.0K $700.0K $800.0K
YoY Change 0.0% -12.5% 0.0%
Other Assets $75.30M $22.47M $124.4M
YoY Change 0.0% -81.94% 154.4%
Total Long-Term Assets $1.802B $1.717B $1.851B
YoY Change 17.39% -7.28% 34.5%
TOTAL ASSETS
Total Short-Term Assets $1.499B $1.442B $1.347B
Total Long-Term Assets $1.802B $1.717B $1.851B
Total Assets $3.301B $3.159B $3.199B
YoY Change 8.79% -1.24% 24.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $190.6M $153.0M $223.7M
YoY Change 0.0% -31.58% 34.68%
Accrued Expenses $88.43M $76.67M $94.10M
YoY Change 0.0% -18.52% -4.37%
Deferred Revenue
YoY Change
Short-Term Debt $40.60M $43.30M $700.0K
YoY Change -2.4% 6085.71% -87.72%
Long-Term Debt Due $3.600M $3.800M $333.7M
YoY Change -86.76% -98.86% 66640.0%
Total Short-Term Liabilities $467.6M $404.3M $854.2M
YoY Change 0.0% -52.67% 89.78%
LONG-TERM LIABILITIES
Long-Term Debt $703.6M $703.9M $306.5M
YoY Change 43.42% 129.66% -1.35%
Other Long-Term Liabilities $24.82M $29.90M $167.6M
YoY Change 0.0% -82.16% -6.05%
Total Long-Term Liabilities $24.82M $29.90M $474.1M
YoY Change 0.0% -93.69% -3.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $467.6M $404.3M $854.2M
Total Long-Term Liabilities $24.82M $29.90M $474.1M
Total Liabilities $1.489B $1.405B $1.479B
YoY Change 0.0% -5.02% 43.75%
SHAREHOLDERS EQUITY
Retained Earnings $1.399B $1.351B
YoY Change 0.0%
Common Stock $471.6M $507.2M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.782B $1.722B $1.719B
YoY Change
Total Liabilities & Shareholders Equity $3.301B $3.159B $3.199B
YoY Change 0.0% -1.24% 24.5%

Cashflow Statement

Concept 2013 Q2 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income $60.82M $53.92M $75.50M
YoY Change -29.32% -28.59% 16.69%
Depreciation, Depletion And Amortization $28.30M $29.00M $26.20M
YoY Change -5.35% 10.69% 13.42%
Cash From Operating Activities $133.8M $96.20M $93.10M
YoY Change 6.7% 3.33% 61.63%
INVESTING ACTIVITIES
Capital Expenditures -$29.00M -$19.40M -$25.10M
YoY Change -31.44% -22.71% 107.44%
Acquisitions
YoY Change
Other Investing Activities $500.0K $1.000M -$379.4M
YoY Change -86.11% -100.26% -21177.78%
Cash From Investing Activities -$28.50M -$18.40M -$404.5M
YoY Change -26.74% -95.45% 3827.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -54.30M 33.40M 301.3M
YoY Change -36.27% -88.91% -1728.65%
NET CHANGE
Cash From Operating Activities 133.8M 96.20M 93.10M
Cash From Investing Activities -28.50M -18.40M -404.5M
Cash From Financing Activities -54.30M 33.40M 301.3M
Net Change In Cash 51.00M 111.2M -10.10M
YoY Change 3823.08% -1200.99% -135.07%
FREE CASH FLOW
Cash From Operating Activities $133.8M $96.20M $93.10M
Capital Expenditures -$29.00M -$19.40M -$25.10M
Free Cash Flow $162.8M $115.6M $118.2M
YoY Change -2.92% -2.2% 69.58%

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716000 USD
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200000 USD
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2012Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
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CY2012Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
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CY2013Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Tax
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CY2012Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnDerivativesIncludedInNetIncomeTax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnDerivativesIncludedInNetIncomeTax
200000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Tax
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us-gaap Other Comprehensive Income Loss Reclassification Pension And Other Postretirement Benefit Plans Net Gain Loss Recognized In Net Periodic Benefit Cost Tax
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us-gaap Other Comprehensive Income Reclassification Of Defined Benefit Plans Net Gain Loss Recognized In Net Periodic Benefit Cost Net Of Tax
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OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
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CY2012Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
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CY2013Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
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OtherNonoperatingIncomeExpense
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us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
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us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2013Q1 us-gaap Preferred Stock Shares Authorized
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CY2013Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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PreferredStockValue
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us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Proceeds From Issuance Or Sale Of Equity
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2012Q1 us-gaap Profit Loss
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us-gaap Profit Loss
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CY2013Q1 us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Repayments Of Long Term Debt
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us-gaap Sales Revenue Net
SalesRevenueNet
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us-gaap Sales Revenue Net
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kmt Payments For Derivative Hedging Instrument Upon Settlement
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kmt Payments For Derivative Hedging Instrument Upon Settlement
PaymentsForDerivativeHedgingInstrumentUponSettlement
0 USD
CY2012Q1 kmt Payments For Derivative Hedging Instrument Upon Settlement
PaymentsForDerivativeHedgingInstrumentUponSettlement
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CY2013Q1 kmt Reserves For Environmental Costs
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CY2012Q2 kmt Reserves For Environmental Costs
ReservesForEnvironmentalCosts
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CY2013Q1 kmt Sale Of Stock Percentage Of Shares Sold
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedInPeriodWeightedAverageExercisePrice
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kmt Share Based Compensation Arrangement By Share Based Payment Award Options Granted Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageExercisePrice
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kmt Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Life
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingLife
P5Y8M12D
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-03-31
dei Document Type
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10-Q
dei Entity Central Index Key
EntityCentralIndexKey
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
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P3Y
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1893124 shares
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
31.60
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
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CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
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CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
30.11
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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25000 USD
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y8M12D
CY2013Q1 us-gaap Short Term Bank Loans And Notes Payable
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CY2012Q2 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
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us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
203000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
198000 USD
us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
36087000 USD
us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
25402000 USD
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
22307000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
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us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
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CY2013Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2013Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
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dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
KENNAMETAL INC
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81535000 shares
CY2012Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2011Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1658641000 USD
CY2013Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2012Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1668221000 USD
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
80619000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
80912000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81434000 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
79294000 shares
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80110000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80179000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
79744000 shares
CY2013Q1 kmt Common Stock Minimum Public Float
CommonStockMinimumPublicFloat
0.25
CY2012Q2 kmt Derivatives Designated As Hedging Instrument Fair Value
DerivativesDesignatedAsHedgingInstrumentFairValue
364000 USD
CY2013Q1 kmt Derivatives Designated As Hedging Instrument Fair Value
DerivativesDesignatedAsHedgingInstrumentFairValue
-118000 USD
CY2012Q2 kmt Derivatives Not Designated As Hedging Instrument Fair Value
DerivativesNotDesignatedAsHedgingInstrumentFairValue
1298000 USD
CY2013Q1 kmt Derivatives Not Designated As Hedging Instrument Fair Value
DerivativesNotDesignatedAsHedgingInstrumentFairValue
228000 USD
kmt Dividend Reinvestment And Employee Benefit And Stock Plans
DividendReinvestmentAndEmployeeBenefitAndStockPlans
23072000 USD
kmt Dividend Reinvestment And Employee Benefit And Stock Plans
DividendReinvestmentAndEmployeeBenefitAndStockPlans
13255000 USD
kmt Dividends Per Share
DividendsPerShare
0.48
CY2013Q1 kmt Dividends Per Share
DividendsPerShare
0.16
kmt Dividends Per Share
DividendsPerShare
0.40
CY2012Q1 kmt Dividends Per Share
DividendsPerShare
0.14
CY2012Q2 kmt Finite And Infinite Lived Intangible Assets Gross
FiniteAndInfiniteLivedIntangibleAssetsGross
333373000 USD
CY2013Q1 kmt Finite And Infinite Lived Intangible Assets Gross
FiniteAndInfiniteLivedIntangibleAssetsGross
332266000 USD
kmt Increase Decrease In Intangible Assets Due To Foreign Currency Translation Adjustments
IncreaseDecreaseInIntangibleAssetsDueToForeignCurrencyTranslationAdjustments
-1300000 USD
CY2013Q1 kmt Land And Buildings Gross
LandAndBuildingsGross
379726000 USD
CY2012Q2 kmt Land And Buildings Gross
LandAndBuildingsGross
379034000 USD
kmt Maximum Period Of Achievement Of Performance Goals To Earn Performance Units
MaximumPeriodOfAchievementOfPerformanceGoalsToEarnPerformanceUnits
P3Y
CY2009Q1 kmt Terminated Interest Rate Swap Contracts
TerminatedInterestRateSwapContracts
200000000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3

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