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Stockholders' Equity and Noncontrolling Interests
 9 Months Ended
Jan. 02, 2022
Equity [Abstract]  
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 nine months ended January 2, 2022:
 
Shares outstanding as of March 31, 202142,753,020 
Purchase of treasury stock(1,422,569)
Shares issued under equity-based compensation plans, net of equity awards surrendered for option price and taxes215,901 
Shares outstanding as of January 2, 202241,546,352 

Treasury Stock

During the nine months ended January 2, 2022, the Company purchased 1,422,569 shares for $114,534 and did not purchase any shares during the nine months ended January 3, 2021. At January 2, 2022 and March 31, 2021, the Company held 14,191,647 and 12,799,790 shares as treasury stock, respectively. During the nine months ended January 2, 2022, the Company also issued 10,712 shares out of its treasury stock, valued at $62.55 per share, on a LIFO basis, to participants under the Company's Employee Stock Purchase Plan.

Accumulated Other Comprehensive Income (“AOCI ”)

The components of AOCI, net of tax, as of January 2, 2022 and March 31, 2021, are as follows:
March 31, 2021Before ReclassificationsAmounts Reclassified from AOCIJanuary 2, 2022
Pension funded status adjustment$(20,947)$— $689 $(20,258)
Net unrealized gain (loss) on derivative instruments360 7,592 (6,714)1,238 
Foreign currency translation adjustment (1)
(95,296)(26,671)— (121,967)
Accumulated other comprehensive (loss) income$(115,883)$(19,079)$(6,025)$(140,987)

(1) Foreign currency translation adjustment for the nine months ended January 2, 2022 includes a $4,302 loss (net of taxes of $1,316) relating to the net investment hedges entered into by the Company on December 23, 2021.
The following table presents reclassifications from AOCI during the third quarter ended January 2, 2022:

Components of AOCI Amounts Reclassified from AOCILocation of (Gain) Loss Recognized on Income Statement
Derivatives in cash flow hedging relationships:
Net unrealized gain on derivative instruments$(5,521)Cost of goods sold
Tax expense1,294 
Net unrealized gain on derivative instruments, net of tax$(4,227)
Derivatives in net investment hedging relationships:
Net unrealized gain on derivative instruments$(88)Interest expense
Tax expense20 
Net unrealized gain on derivative instruments, net of tax$(68)
Defined benefit pension costs:
Prior service costs and deferrals$285 Net periodic benefit cost, included in other (income) expense, net - See Note 13
Tax benefit(69)
Net periodic benefit cost, net of tax$216 


The following table presents reclassifications from AOCI during the nine months ended January 2, 2022:

Components of AOCI Amounts Reclassified from AOCILocation of (Gain) Loss Recognized on Income Statement
Derivatives in cash flow hedging relationships:
Net unrealized gain on derivative instruments$(8,769)Cost of goods sold
Tax expense2,055 
Net unrealized gain on derivative instruments, net of tax$(6,714)
Derivatives in net investment hedging relationships:
Net unrealized gain on derivative instruments$(88)Interest expense
Tax expense20 
Net unrealized gain on derivative instruments, net of tax$(68)
Defined benefit pension costs:
Prior service costs and deferrals$895 Net periodic benefit cost, included in other (income) expense, net - See Note 13
Tax benefit(206)
Net periodic benefit cost, net of tax$689 
The following table presents reclassifications from AOCI during the third quarter ended January 3, 2021:

Components of AOCIAmounts Reclassified from AOCILocation of (Gain) Loss Recognized on Income Statement
Derivatives in cash flow hedging relationships:
Net unrealized gain on derivative instruments$(662)Cost of goods sold
Tax expense157 
Net unrealized gain on derivative instruments, net of tax$(505)
Defined benefit pension costs:
Prior service costs and deferrals$355 Net periodic benefit cost, included in other (income) expense, net - See Note 13
Tax benefit(86)
Net periodic benefit cost, net of tax$269 

The following table presents reclassifications from AOCI during the nine months ended January 3, 2021:

Components of AOCIAmounts Reclassified from AOCILocation of (Gain) Loss Recognized on Income Statement
Derivatives in cash flow hedging relationships:
Net unrealized loss on derivative instruments$8,017 Cost of goods sold
Tax benefit(1,897)
Net unrealized loss on derivative instruments, net of tax$6,120 
Defined benefit pension costs:
Prior service costs and deferrals$1,123 Net periodic benefit cost, included in other (income) expense, net - See Note 13
Tax benefit(258)
Net periodic benefit cost, net of tax$865 
(In Thousands, Except Per Share Data)

Preferred
Stock		Common
Stock		Additional Paid-in
Capital		Treasury
Stock		Retained
Earnings		Accumulated
Other
Comprehensive
Income (Loss)		Contra-EquityTotal
EnerSys
Stockholders’
Equity		Non-
redeemable
Non-
Controlling
Interests		Total
Equity
Balance at March 31, 2021$— $555 $554,168 $(563,481)$1,669,751 $(115,883)$(5,355)$1,539,755 $3,821 $1,543,576 
Stock-based compensation— — 3,659 — — — — 3,659 — 3,659 
Exercise of stock options — 1 386 — — — — 387 — 387 
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net— — (4,803)— — — — (4,803)— (4,803)
Purchase of common stock— — — (31,512)— — — (31,512)— (31,512)
Other— — 44 170 — — — 214 — 214 
Net earnings — — — — 43,929 — — 43,929 — 43,929 
Dividends ($0.175 per common share)
— — 173 — (7,608)— — (7,435)— (7,435)
Dissolution of joint venture— — — — — — — — (47)(47)
Other comprehensive income:
Pension funded status adjustment (net of tax benefit of $68)
— — — — — 240 — 240 — 240 
Net unrealized gain (loss) on derivative instruments (net of tax expense of $1,187)
— — — — — 3,897 — 3,897 — 3,897 
Foreign currency translation adjustment— — — — — 15,272 — 15,272 49 15,321 
Balance at July 4, 2021$— $556 $553,627 $(594,823)$1,706,072 $(96,474)$(5,355)$1,563,603 $3,823 $1,567,426 
Stock-based compensation— — 5,765 — — — — 5,765 — 5,765 
Exercise of stock options— 1 770 — — — — 771 — 771 
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net— — (4,197)— — — — (4,197)— (4,197)
Contra equity - adjustment to indemnification receivable for acquisition related tax liability— — — — — — 1,354 1,354 — 1,354 
Purchase of common stock— — — — — — — — — — 
Other— — 52 174 — — — 226 — 226 
Net earnings— — — — 35,626 — — 35,626 — 35,626 
Dividends ($0.175 per common share)
— — 185 — (7,641)— — (7,456)— (7,456)
Other comprehensive income:
Pension funded status adjustment (net of tax benefit of $69)
— — — — — 233 — 233 — 233 
Net unrealized gain (loss) on derivative instruments (net of tax benefit of $683)
— — — — — (2,233)— (2,233)— (2,233)
Foreign currency translation adjustment— — — — — (23,673)— (23,673)15 (23,658)
Balance at October 3, 2021$— $557 $556,202 $(594,649)$1,734,057 $(122,147)$(4,001)$1,570,019 $3,838 $1,573,857 
Stock-based compensation— — 6,393 — — — — 6,393 — 6,393 
Exercise of stock options — — 115 — — — — 115 — 115 
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net— — (120)— — — — (120)— (120)
Contra equity - adjustment to indemnification receivable for acquisition related tax liability— — — — — — 381 381 — 381 
Purchase of common stock— — — (83,022)— — — (83,022)— (83,022)
Other— — 31 195 — — — 226 — 226 
Net earnings — — — — 36,264 — — 36,264 — 36,264 
Dividends ($0.175 per common share)
— — 184 — (7,480)— — (7,296)— (7,296)
Other comprehensive income:
Pension funded status adjustment (net of tax benefit of $69)
— — — — — 216 — 216 — 216 
Net unrealized gain (loss) on derivative instruments (net of tax benefit of $241)
— — — — — (786)— (786)— (786)
Foreign currency translation adjustment— — — — — (18,270)— (18,270)56 (18,214)
Balance at January 2, 2022$— $557 $562,805 $(677,476)$1,762,841 $(140,987)$(3,620)$1,504,120 $3,894 $1,508,014 
The following demonstrates the change in equity attributable to EnerSys stockholders and nonredeemable noncontrolling interests during the third quarter and nine months ended January 3, 2021:
(In Thousands, Except Per Share Data)

Preferred
Stock		Common
Stock		Additional Paid-in
Capital		Treasury
Stock		Retained
Earnings		Accumulated
Other
Comprehensive
Income (Loss)		Contra-EquityTotal
EnerSys
Stockholders’
Equity		Non-
redeemable
Non-
Controlling
Interests		Total
Equity
Balance at March 31, 2020$— $551 $529,100 $(564,376)$1,556,980 $(215,006)$(6,724)$1,300,525 $3,537 $1,304,062 
Stock-based compensation— — 5,053 — — — — 5,053 — 5,053 
Exercise of stock options — 2 479 — — — — 481 — 481 
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net— — (3,135)— — — — (3,135)— (3,135)
Purchase of common stock— — — — — — — — — — 
Other— — (123)299 — — — 176 — 176 
Net earnings — — — — 35,183 — — 35,183 — 35,183 
Dividends ($0.175 per common share)
— — 172 — (7,600)— — (7,428)— (7,428)
Other comprehensive income:
Pension funded status adjustment (net of tax benefit of $86)
— — — — — 291 — 291 — 291 
Net unrealized gain (loss) on derivative instruments (net of tax expense of $726)
— — — — — 2,343 — 2,343 — 2,343 
Foreign currency translation adjustment— — — — — 28,139 — 28,139 8 28,147 
Balance at July 5, 2020$— $553 $531,546 $(564,077)$1,584,563 $(184,233)$(6,724)$1,361,628 $3,545 $1,365,173 
Stock-based compensation— — 5,533 — — — — 5,533 — 5,533 
Exercise of stock options— 1 1,284 — — — — 1,285 — 1,285 
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net— — (1,467)— — — — (1,467)— (1,467)
Contra equity - adjustment to indemnification receivable for acquisition related tax liability— — — — — — 1,451 1,451 — 1,451 
Purchase of common stock— — — — — — — — — — 
Other— — (7)224 — — — 217 — 217 
Net earnings— — — — 35,731 — — 35,731 — 35,731 
Dividends ($0.175 per common share)
— — 203 — (7,654)— — (7,451)— (7,451)
Other comprehensive income:
Pension funded status adjustment (net of tax benefit of $86)
— — — — — 305 — 305 — 305 
Net unrealized gain (loss) on derivative instruments (net of tax expense of $454)
— — — — — 1,470 — 1,470 — 1,470 
Foreign currency translation adjustment— — — — — 32,689 — 32,689 144 32,833 
Balance at October 4, 2020$— $554 $537,092 $(563,853)$1,612,640 $(149,769)$(5,273)$1,431,391 $3,689 $1,435,080 
Stock-based compensation— — 6,396 — — — — 6,396 — 6,396 
Exercise of stock options— — 3,052 — — — — 3,052 — 3,052 
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net— — (357)— — — — (357)— (357)
Purchase of common stock— — — — — — — — — — 
Other— — (1)191 — — — 190 — 190 
Net earnings— — — — 38,624 — — 38,624 — 38,624 
Dividends ($0.175 per common share)
— — 203 — (7,681)— — (7,478)19 (7,459)
Other comprehensive income:
Pension funded status adjustment (net of tax benefit of $86)
— — — — — 269 — 269 — 269 
Net unrealized gain (loss) on derivative instruments (net of tax expense of $845)
— — — — — 2,718 — 2,718 — 2,718 
Foreign currency translation adjustment— — — — — 52,752 — 52,752 149 52,901 
Balance at January 3, 2021$— $554 $546,385 $(563,662)$1,643,583 $(94,030)$(5,273)$1,527,557 $3,857 $1,531,414