| Stockholders' Equity |
Stockholders’ Equity and Noncontrolling Interests
Common Stock
The following demonstrates the change in the number of shares of common stock outstanding during the six months ended October 2, 2016: | | | | | Shares outstanding as of March 31, 2016 | | 43,189,502 |
| Shares issued towards equity-based compensation plans, net of equity awards surrendered for option price and taxes | | 237,477 |
| Shares outstanding as of October 2, 2016 | | 43,426,979 |
|
Treasury Stock
There were no repurchases of treasury stock during the six months ended October 2, 2016, and the Company held 10,923,274 shares as treasury stock at October 2, 2016 and March 31, 2016.
Accumulated Other Comprehensive Income ("AOCI")
The components of AOCI, net of tax, as of October 2, 2016 and March 31, 2016, are as follows: | | | | | | | | | | | | | | | | | | | | March 31, 2016 | | Before Reclassifications | | Amounts Reclassified from AOCI | | October 2, 2016 | Pension funded status adjustment | | $ | (21,861 | ) | | $ | — |
| | $ | 549 |
| | $ | (21,312 | ) | Net unrealized (loss) gain on derivative instruments | | 388 |
| | 3,091 |
| | (663 | ) | | 2,816 |
| Foreign currency translation adjustment | | (75,876 | ) | | (21,974 | ) | | — |
| | (97,850 | ) | Accumulated other comprehensive income (loss) | | $ | (97,349 | ) | | $ | (18,883 | ) | | $ | (114 | ) | | $ | (116,346 | ) |
The following table presents reclassifications from AOCI during the second quarter ended October 2, 2016:
| | | | | | | | Components of AOCI | | Amounts Reclassified from AOCI | | Location of (Gain) Loss Recognized on Income Statement | Derivatives in Cash Flow Hedging Relationships: | | | | | Net unrealized gain on derivative instruments | | $ | (171 | ) | | Cost of goods sold | Tax expense | | 63 |
| | | Net unrealized gain on derivative instruments, net of tax | | $ | (108 | ) | | | | | | | | Defined benefit pension costs: | | | | | Prior service costs and deferrals | | $ | 385 |
| | Net periodic benefit cost, included in cost of goods sold and operating expenses - See Note 10 | Tax benefit | | (117 | ) | | | Net periodic benefit cost, net of tax | | $ | 268 |
| | |
The following table presents reclassifications from AOCI during the second quarter ended September 27, 2015:
| | | | | | | | Components of AOCI | | Amounts Reclassified from AOCI | | Location of (Gain) Loss Recognized on Income Statement | Derivatives in Cash Flow Hedging Relationships: | | | | | Net unrealized gain on derivative instruments | | $ | (2,513 | ) | | Cost of goods sold | Tax expense | | 929 |
| | | Net unrealized gain on derivative instruments, net of tax | | $ | (1,584 | ) | | | | | | | | Defined benefit pension costs: | | | | | Prior service costs and deferrals | | $ | 444 |
| | Net periodic benefit cost, included in cost of goods sold and operating expenses - See Note 10 | Tax benefit | | (129 | ) | | | Net periodic benefit cost, net of tax | | $ | 315 |
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The following table presents reclassifications from AOCI during the six months ended October 2, 2016:
| | | | | | | | Components of AOCI | | Amounts Reclassified from AOCI | | Location of (Gain) Loss Recognized on Income Statement | Derivatives in Cash Flow Hedging Relationships: | | | | | Net unrealized gain on derivative instruments | | $ | (1,050 | ) | | Cost of goods sold | Tax expense | | 387 |
| | | Net unrealized gain on derivative instruments, net of tax | | $ | (663 | ) | | | | | | | | Defined benefit pension costs: | | | | | Prior service costs and deferrals | | $ | 782 |
| | Net periodic benefit cost, included in cost of goods sold and operating expenses - See Note 10 | Tax benefit | | (233 | ) | | | Net periodic benefit cost, net of tax | | $ | 549 |
| | |
The following table presents reclassifications from AOCI during the six months ended September 27, 2015:
| | | | | | | | Components of AOCI | | Amounts Reclassified from AOCI | | Location of (Gain) Loss Recognized on Income Statement | Derivatives in Cash Flow Hedging Relationships: | | | | | Net unrealized gain on derivative instruments | | $ | (938 | ) | | Cost of goods sold | Tax expense | | 349 |
| | | Net unrealized gain on derivative instruments, net of tax | | $ | (589 | ) | | | | | | | | Defined benefit pension costs: | | | | | Prior service costs and deferrals | | $ | 895 |
| | Net periodic benefit cost, included in cost of goods sold and operating expenses - See Note 10 | Tax benefit | | (257 | ) | | | Net periodic benefit cost, net of tax | | $ | 638 |
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The following demonstrates the change in equity attributable to EnerSys stockholders and nonredeemable noncontrolling interests during the six months ended October 2, 2016:
| | | | | | | | | | | | | | | | Equity Attributable to EnerSys Stockholders | | Nonredeemable Noncontrolling Interests | | Total Equity | Balance as of March 31, 2016 | | $ | 1,013,131 |
| | $ | 5,304 |
| | $ | 1,018,435 |
| Total comprehensive income: | | | | | | | Net earnings | | 90,209 |
| | 85 |
| | 90,294 |
| Net unrealized gain on derivative instruments, net of tax | | 2,428 |
| | — |
| | 2,428 |
| Pension funded status adjustment, net of tax | | 549 |
| | — |
| | 549 |
| Foreign currency translation adjustment | | (21,974 | ) | | (256 | ) | | (22,230 | ) | Total other comprehensive loss, net of tax | | (18,997 | ) | | (256 | ) | | (19,253 | ) | Total comprehensive income (loss) | | 71,212 |
| | (171 | ) | | 71,041 |
| Other changes in equity: | | | | | | | Cash dividends - common stock ($0.35 per share) | | (15,200 | ) | | — |
| | (15,200 | ) | Other, including activity related to equity awards | | 1,742 |
| | — |
| | 1,742 |
| Balance as of October 2, 2016 | | $ | 1,070,885 |
| | $ | 5,133 |
| | $ | 1,076,018 |
|
The following demonstrates the change in redeemable noncontrolling interests during the six months ended October 2, 2016:
| | | | | | | | Redeemable Noncontrolling Interests | Balance as of March 31, 2016 | | $ | 5,997 |
| Net loss | | (2,882 | ) | Foreign currency translation adjustment | | 62 |
| Balance as of October 2, 2016 | | $ | 3,177 |
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