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Stockholders' Equity and Noncontrolling Interests
 6 Months Ended
Oct. 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 six months ended October 2, 2022:
 
Shares outstanding as of March 31, 202240,986,658 
Purchase of treasury stock(358,365)
Shares issued under equity-based compensation plans, net of equity awards surrendered for option price and taxes193,418 
Shares outstanding as of October 2, 202240,821,711 

Treasury Stock

During the six months ended October 2, 2022, the Company purchased 358,365 shares for $22,907 and 329,008 shares for $31,512 during the six months ended October 3, 2021. At October 2, 2022 and March 31, 2022, the Company held 15,113,761 and 14,762,266 shares as treasury stock, respectively. During the six months ended October 2, 2022, the Company also issued 6,870 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 October 2, 2022 and March 31, 2022, are as follows:
March 31, 2022Before ReclassificationsAmounts Reclassified from AOCIOctober 2, 2022
Pension funded status adjustment$(12,637)$— $170 $(12,467)
Net unrealized gain (loss) on derivative instruments2,963 (6,062)(56)(3,155)
Foreign currency translation adjustment (1)
(133,821)(107,971)— (241,792)
Accumulated other comprehensive (loss) income$(143,495)$(114,033)$114 $(257,414)
(1) Foreign currency translation adjustment for the six months ended October 2, 2022 includes a $28,882 gain (net of taxes of $8,813) related to the Company terminating its $300,000 cross-currency fixed interest rate swap contract on September 29, 2022, resulting in cash proceeds of $43,384.
The following table presents reclassifications from AOCI during the second quarter ended October 2, 2022:

Components of AOCI Amounts Reclassified from AOCILocation of (Gain) Loss Recognized on Income Statement
Derivatives in cash flow hedging relationships:
Net unrealized loss on derivative instruments$1,067 Cost of goods sold
Tax benefit(249)
Net unrealized loss on derivative instruments, net of tax$818 
Derivatives in net investment hedging relationships:
Net unrealized gain on derivative instruments$(1,665)Interest expense
Tax expense389 
Net unrealized gain on derivative instruments, net of tax$(1,276)
Defined benefit pension costs:
Prior service costs and deferrals$115 Net periodic benefit cost, included in other (income) expense, net - See Note 13
Tax benefit(34)
Net periodic benefit cost, net of tax$81 


The following table presents reclassifications from AOCI during the six months ended October 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$(74)Cost of goods sold
Tax expense18 
Net unrealized gain on derivative instruments, net of tax$(56)
Derivatives in net investment hedging relationships:
Net unrealized gain on derivative instruments$(2,923)Interest expense
Tax expense683 
Net unrealized gain on derivative instruments, net of tax$(2,240)
Defined benefit pension costs:
Prior service costs and deferrals$238 Net periodic benefit cost, included in other (income) expense, net - See Note 13
Tax benefit(68)
Net periodic benefit cost, net of tax$170 
The following table presents reclassifications from AOCI during the second quarter ended October 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$(949)Cost of goods sold
Tax expense222 
Net unrealized gain on derivative instruments, net of tax$(727)
Defined benefit pension costs:
Prior service costs and deferrals$302 Net periodic benefit cost, included in other (income) expense, net - See Note 13
Tax benefit(69)
Net periodic benefit cost, net of tax$233 


The following table presents reclassifications from AOCI during the six months ended October 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$(3,248)Cost of goods sold
Tax expense761 
Net unrealized loss on derivative instruments, net of tax$(2,487)
Defined benefit pension costs:
Prior service costs and deferrals$610 Net periodic benefit cost, included in other (income) expense, net - See Note 13
Tax benefit(137)
Net periodic benefit cost, net of tax$473 
The following demonstrates the change in equity attributable to EnerSys stockholders and nonredeemable noncontrolling interests during the second quarter and six months ended October 2, 2022:
(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, 2022$— $557 $571,464 $(719,119)$1,783,586 $(143,495)$(3,620)$1,489,373 $3,902 $1,493,275 
Stock-based compensation— — 5,330 — — — — 5,330 — 5,330 
Exercise of stock options — 1 — — — — — 1 — 1 
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net— — (633)— — — — (633)— (633)
Purchase of common stock— — — (22,907)— — — (22,907)— (22,907)
Other— — (41)240 — — — 199 — 199 
Net earnings — — — — 30,978 — — 30,978 — 30,978 
Dividends ($0.175 per common share)
— — 174 — (7,282)— — (7,108)— (7,108)
Other comprehensive income:
Pension funded status adjustment (net of tax benefit of $34)
— — — — — 89 — 89 — 89 
Net unrealized gain (loss) on derivative instruments (net of tax benefit of $2,514)
— — — — — (8,234)— (8,234)— (8,234)
Foreign currency translation adjustment— — — — — (52,010)— (52,010)(210)(52,220)
Balance at July 3, 2022$— $558 $576,294 $(741,786)$1,807,282 $(203,650)$(3,620)$1,435,078 $3,692 $1,438,770 
Stock-based compensation— — 6,534 — — — — 6,534 — 6,534 
Exercise of stock options— 1 114 — — — — 115 — 115 
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net— — (5,624)— — — — (5,624)— (5,624)
Contra equity - adjustment to indemnification receivable for acquisition related tax liability— — — — — — 963 963 — 963 
Purchase of common stock— — — — — — — — — — 
Other— — 28 276 — — — 304 — 304 
Net earnings— — — — 34,472 — — 34,472 — 34,472 
Dividends ($0.175 per common share)
— — 174 — (7,312)— — (7,138)— (7,138)
Other comprehensive income:
Pension funded status adjustment (net of tax benefit of $34)
— — — — — 81 — 81 — 81 
Net unrealized gain (loss) on derivative instruments (net of tax of $647)
— — — — — 2,116 — 2,116 — 2,116 
Foreign currency translation adjustment— — — — — (55,961)— (55,961)(214)(56,175)
Balance at October 2, 2022$— $559 $577,520 $(741,510)$1,834,442 $(257,414)$(2,657)$1,410,940 $3,478 $1,414,418 
The following demonstrates the change in equity attributable to EnerSys stockholders and nonredeemable noncontrolling interests during the second quarter and six months ended October 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, 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