Stockholders' Equity and Noncontrolling Interests

6 Months Ended

Sep. 30, 2018

Stockholders' Equity and Noncontrolling Interests

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 September 30, 2018:



Shares outstanding as of March 31, 2018		41,915,000
Shares issued towards equity-based compensation plans, net of equity awards surrendered for option price and taxes		233,391
Shares outstanding as of September 30, 2018		42,148,391

Treasury Stock

At September 30, 2018 and March 31, 2018, the Company held 12,680,105 shares as treasury stock.

Accumulated Other Comprehensive Income (“AOCI ”)

The components of AOCI, net of tax, as of September 30, 2018 and March 31, 2018, are as follows:



	March 31, 2018			Before Reclassifications			Amounts Reclassified from AOCI		September 30, 2018
Pension funded status adjustment	$	(22,503	)	$	—		$	600	$	(21,903	)
Net unrealized gain (loss) on derivative instruments	(3,425		)	(7,869		)	2,695		(8,599		)
Foreign currency translation adjustment	(15,789		)	(85,591		)	—		(101,380		)
Accumulated other comprehensive (loss) income	$	(41,717	)	$	(93,460	)	$	3,295	$	(131,882	)

The following table presents reclassifications from AOCI during the second quarter ended September 30, 2018:



Components of AOCI	Amounts Reclassified from AOCI			Location of (Gain) Loss Recognized on Income Statement
Derivatives in Cash Flow Hedging Relationships:
Net loss on cash flow hedging derivative instruments	$	3,308		Cost of goods sold
Tax benefit	(777		)
Net loss on derivative instruments, net of tax	$	2,531

Defined benefit pension costs:
Prior service costs and deferrals	$	340		Net periodic benefit cost, included in other (income) expense, net - See Note 1 and 10
Tax benefit	(40		)
Net periodic benefit cost, net of tax	$	300

The following table presents reclassifications from AOCI during the second quarter ended October 1, 2017:



Components of AOCI	Amounts Reclassified from AOCI			Location of (Gain) Loss Recognized on Income Statement
Derivatives in Cash Flow Hedging Relationships:
Net loss on cash flow hedging derivative instruments	$	2,959		Cost of goods sold
Tax benefit	(1,095		)
Net loss on derivative instruments, net of tax	$	1,864

Defined benefit pension costs:
Prior service costs and deferrals	$	440		Net periodic benefit cost, included in other (income) expense, net - See Note 1 and 10
Tax benefit	(102		)
Net periodic benefit cost, net of tax	$	338

The following table presents reclassifications from AOCI during the six months ended September 30, 2018:




Components of AOCI	Amounts Reclassified from AOCI			Location of (Gain) Loss Recognized on Income Statement
Derivatives in Cash Flow Hedging Relationships:
Net unrealized loss on derivative instruments	$	3,522		Cost of goods sold
Tax benefit	(827		)
Net unrealized loss on derivative instruments, net of tax	$	2,695

Defined benefit pension costs:
Prior service costs and deferrals	$	708		Net periodic benefit cost, included in other (income) expense, net - See Note 1 and 10
Tax benefit	(108		)
Net periodic benefit cost, net of tax	$	600

The following table presents reclassifications from AOCI during the six months quarter ended October 1, 2017:




Components of AOCI	Amounts Reclassified from AOCI			Location of (Gain) Loss Recognized on Income Statement
Derivatives in Cash Flow Hedging Relationships:
Net loss on cash flow hedging derivative instruments	$	992		Cost of goods sold
Tax benefit	(367		)
Net loss on derivative instruments, net of tax	$	625

Defined benefit pension costs:
Prior service costs and deferrals	$	870		Net periodic benefit cost, included in other (income) expense, net - See Note 1 and 10
Tax benefit	(205		)
Net periodic benefit cost, net of tax	$	665

The following demonstrates the change in equity attributable to EnerSys stockholders and nonredeemable noncontrolling interests during the six months ended September 30, 2018:



	Equity Attributable to EnerSys Stockholders			Nonredeemable Noncontrolling Interests			Total Equity
Balance as of March 31, 2018	$	1,195,675		$	5,436		$	1,201,111
Total comprehensive income:
Net earnings	93,284			183			93,467
Net unrealized loss on derivative instruments, net of tax	(5,174		)	—			(5,174		)
Pension funded status adjustment, net of tax	600			—			600
Foreign currency translation adjustment	(85,591		)	(722		)	(86,313		)
Total other comprehensive loss, net of tax	(90,165		)	(722		)	(90,887		)
Total comprehensive income (loss)	3,119			(539		)	2,580
Other changes in equity:
Cash dividends - common stock ($0.35 per share)	(14,747		)	—			(14,747		)
Other, including activity related to equity awards	13,858			—			13,858
Balance as of September 30, 2018	$	1,197,905		$	4,897		$	1,202,802