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Stockholders' Equity and Noncontrolling Interests
 3 Months Ended
Jul. 02, 2023
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 current quarter ended July 2, 2023:
 
Shares outstanding as of March 31, 202340,901,059 
Shares issued under equity-based compensation plans, net of equity awards surrendered for option price and taxes128,975 
Shares outstanding as of July 2, 202341,030,034 

Treasury Stock

During the first quarter ended July 2, 2023, the Company did not purchase any shares and purchased 358,365 shares for $22,907 the first quarter ended July 3, 2022. At July 2, 2023 and March 31, 2023, the Company held 15,099,676 and 15,103,554 shares as treasury stock, respectively. During the current quarter ended July 2, 2023, the Company also issued 3,878
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 July 2, 2023 and March 31, 2023, are as follows:
March 31, 2023Before ReclassificationsAmounts Reclassified from AOCIJuly 2, 2023
Pension funded status adjustment$(4,423)$— $20 $(4,403)
Net unrealized gain (loss) on derivative instruments1,411 4,771 (2,985)3,197 
Foreign currency translation adjustment (1)
(180,462)2,192 — (178,270)
Accumulated other comprehensive (loss) income$(183,474)$6,963 $(2,965)$(179,476)
(1) Foreign currency translation adjustment for the current quarter ended July 2, 2023 includes a $2,224 gain (net of taxes of $678) related to the Company's $150,000 cross-currency fixed interest rate swap contract.
The following table presents reclassifications from AOCI during the first quarter ended July 2, 2023:

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$(3,896)Cost of goods sold
Tax expense911 
Net unrealized loss on derivative instruments, net of tax$(2,985)
Derivatives in net investment hedging relationships:
Net unrealized gain on derivative instruments$(112)Interest expense
Tax expense26 
Net unrealized gain on derivative instruments, net of tax$(86)
Defined benefit pension costs:
Prior service costs and deferrals$29 Net periodic benefit cost, included in other (income) expense, net - See Note 12
Tax benefit(9)
Net periodic benefit cost, net of tax$20 

The following table presents reclassifications from AOCI during the first quarter ended July 3, 2022:

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$(1,141)Cost of goods sold
Tax expense267 
Net unrealized gain on derivative instruments, net of tax$(874)
Derivatives in net investment hedging relationships:
Net unrealized gain on derivative instruments$(1,258)Interest expense
Tax expense294 
Net unrealized gain on derivative instruments, net of tax$(964)
Defined benefit pension costs:
Prior service costs and deferrals$123 Net periodic benefit cost, included in other (income) expense, net - See Note 12
Tax benefit(34)
Net periodic benefit cost, net of tax$89 
The following demonstrates the change in equity attributable to EnerSys stockholders and nonredeemable noncontrolling interests during the first quarter and current quarter ended July 2, 2023:
(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, 2023$— $560 $596,464 $(740,956)$1,930,148 $(183,474)$(2,463)$1,600,279 $3,602 $1,603,881 
Stock-based compensation— — 7,933 — — — — 7,933 — 7,933 
Exercise of stock options — 5 7,649 — — — — 7,654 — 7,654 
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net— — — — — — — — — — 
Purchase of common stock— — — — — — — — — — 
Other— — 65 214 — — — 279 — 279 
Net earnings — — — — 66,797 — — 66,797 — 66,797 
Dividends ($0.175 per common share)
— — 184 — (7,357)— — (7,173)— (7,173)
Other comprehensive income:
Pension funded status adjustment (net of tax benefit of $9)
— — — — — 20 — 20 — 20 
Net unrealized gain (loss) on derivative instruments (net of tax expense of $544)
— — — — — 1,786 — 1,786 — 1,786 
Foreign currency translation adjustment— — — — — 2,192 — 2,192 (190)2,002 
Balance at July 2, 2023$— $565 $612,295 $(740,742)$1,989,588 $(179,476)$(2,463)$1,679,767 $3,412 $1,683,179 

The following demonstrates the change in equity attributable to EnerSys stockholders and nonredeemable noncontrolling interests during the first quarter and current quarter ended July 3, 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)
Dissolution of joint venture— — — — — — — — — — 
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