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Stockholders' Equity and Noncontrolling Interests
 9 Months Ended
Dec. 29, 2024
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 December 29, 2024:
 
Shares outstanding as of March 31, 202440,271,936 
Purchase of treasury stock(1,176,436)
Shares issued under equity-based compensation plans, net of equity awards surrendered for option price and taxes329,172 
Shares outstanding as of December 29, 202439,424,672 

Treasury Stock

During the nine months ended December 29, 2024, the Company purchased 1,176,436 shares for $113,928 and purchased 855,034 shares for $82,331 during the nine months ended December 31, 2023. At December 29, 2024 and March 31, 2024, the Company held 17,259,292 and 16,091,988 shares as treasury stock, respectively. During the nine months ended December 29, 2024, the Company also issued 9,132 shares out of its treasury stock, valued at $62.55 per share to participants under the Company's Employee Stock Purchase Plan. During the nine months ended December 31, 2023, the Company issued 10,402 shares out of its treasury stock, valued at $62.55 per share, to participants under the Company's Employee Stock Purchase Plan.

Accumulated Other Comprehensive Income (“AOCI ”)

The components of AOCI, net of tax, as of December 29, 2024 and March 31, 2024, are as follows:
March 31, 2024Before ReclassificationsAmounts Reclassified from AOCIDecember 29, 2024
Pension funded status adjustment$(9,798)$— $282 $(9,516)
Net unrealized gain (loss) on derivative instruments755 (1,621)1,057 191 
Foreign currency translation adjustment (1)
(195,808)(56,706)— (252,514)
Accumulated other comprehensive (loss) income$(204,851)$(58,327)$1,339 $(261,839)
(1) Foreign currency translation adjustment for the nine months ended December 29, 2024 includes a $1,793 loss (net of taxes of $547) related to the Company's $600,000 cross-currency fixed interest rate swap contracts.
The following table presents reclassifications from AOCI during the third quarter ended December 29, 2024:

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$3,020 Cost of goods sold
Tax benefit(706)
Net unrealized loss on derivative instruments, net of tax$2,314 
Derivatives in net investment hedging relationships:
Net unrealized gain on derivative instruments$(1,009)Interest expense
Tax expense236 
Net unrealized gain on derivative instruments, net of tax$(773)
Defined benefit pension costs:
Prior service costs and deferrals$116 Net periodic benefit cost, included in other (income) expense, net - See Note 14
Tax benefit(31)
Net periodic benefit cost, net of tax$85 

The following table presents reclassifications from AOCI during the nine months ended December 29, 2024:

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$1,381 Cost of goods sold
Tax benefit(324)
Net unrealized loss on derivative instruments, net of tax$1,057 
Derivatives in net investment hedging relationships:
Net unrealized gain on derivative instruments$(1,984)Interest expense
Tax expense464 
Net unrealized gain on derivative instruments, net of tax$(1,520)
Defined benefit pension costs:
Prior service costs and deferrals$376 Net periodic benefit cost, included in other (income) expense, net - See Note 14
Tax benefit(94)
Net periodic benefit cost, net of tax$282 
The following table presents reclassifications from AOCI during the third quarter ended December 31, 2023:


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$(3,334)Cost of goods sold
Tax expense779 
Net unrealized gain on derivative instruments, net of tax$(2,555)
Derivatives in net investment hedging relationships:
Net unrealized gain on derivative instruments$(796)Interest expense
Tax expense186 
Net unrealized gain on derivative instruments, net of tax$(610)
Defined benefit pension costs:
Prior service costs and deferrals$167 Net periodic benefit cost, included in other (income) expense, net - See Note 14
Tax benefit(146)
Net periodic benefit cost, net of tax$21 

The following table presents reclassifications from AOCI during the nine months ended December 31, 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$(7,448)Cost of goods sold
Tax expense1,741 
Net unrealized gain on derivative instruments, net of tax$(5,707)
Derivatives in net investment hedging relationships:
Net unrealized gain on derivative instruments$(908)Interest expense
Tax expense212 
Net unrealized gain on derivative instruments, net of tax$(696)
Defined benefit pension costs:
Prior service costs and deferrals$223 Net periodic benefit cost, included in other (income) expense, net - See Note 14
Tax benefit(161)
Net periodic benefit cost, net of tax$62 
The following demonstrates the change in equity attributable to EnerSys stockholders and nonredeemable noncontrolling interests during the third quarter and nine months ended December 29, 2024:
(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, 2024$— $564 $629,879 $(835,827)$2,163,880 $(204,851)$— $1,753,645 $3,427 $1,757,072 
Stock-based compensation— — 7,062 — — — — 7,062 — 7,062 
Exercise of stock options — 1 6,963 — — — — 6,964 — 6,964 
Purchase of common stock— — — (11,641)— — — (11,641)— (11,641)
Other— — 24 185 — — — 209 — 209 
Net earnings — — — — 70,111 — — 70,111 — 70,111 
Dividends ($0.225 per common share)
— — 227 — (9,271)— — (9,044)— (9,044)
Other comprehensive income:
Pension funded status adjustment (net of tax benefit of $17)
— — — — — 110 — 110 — 110 
Net unrealized gain (loss) on derivative instruments (net of tax expense of $1,117)
— — — — — 3,662 — 3,662 — 3,662 
Foreign currency translation adjustment— — — — — (13,294)— (13,294)(22)(13,316)
Balance at June 30, 2024$— $565 $644,155 $(847,283)$2,224,720 $(214,373)$— $1,807,784 $3,405 $1,811,189 
Stock-based compensation— — 5,125 — — — — 5,125 — 5,125 
Exercise of stock options— — 479 — — — — 479 — 479 
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net— — (7,934)— — — — (7,934)— (7,934)
Shares released under deferred compensation for directors— — 2,404 — — — 2,404 — 2,404 
Purchase of common stock— — — (63,546)— — — (63,546)— (63,546)
Other— 2 (67)179 — — — 114 — 114 
Net earnings— — — — 82,266 — — 82,266 — 82,266 
Dividends ($0.240 per common share)
— — — — (9,555)— — (9,555)— (9,555)
Other comprehensive income:
Pension funded status adjustment (net of tax benefit of $32)
— — — — — 87 — 87 — 87 
Net unrealized gain (loss) on derivative instruments (net of tax of $2,392)
— — — — — (7,842)— (7,842)— (7,842)
Foreign currency translation adjustment— — — — — 28,685 — 28,685 124 28,809 
Balance at September 29, 2024$— $567 $644,162 $(910,650)$2,297,431 $(193,443)$— $1,838,067 $3,529 $1,841,596 
Stock-based compensation— — 8,076 — — — — 8,076 — 8,076 
Exercise of stock options— — 196 — — — — 196 — 196 
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net— — (51)— — — — (51)— (51)
Purchase of common stock— — — (38,741)— — — (38,741)— (38,741)
Other— — 142 224 — — — 366 — 366 
Net earnings— — — — 114,812 — — 114,812 — 114,812 
Dividends ($0.225 per common share)
— — 497 — (9,959)— — (9,462)— (9,462)
Other comprehensive income:— — 
Pension funded status adjustment (net of tax benefit of $31)
— — — — — 85 — 85 — 85 
Net unrealized gain (loss) on derivative instruments (net of tax of $1,102)
— — — — — 3,616 — 3,616 — 3,616 
Foreign currency translation adjustment— — — — — (72,097)— (72,097)(138)(72,235)
Balance at December 29, 2024$— $567 $653,022 $(949,167)$2,402,284 $(261,839)$— $1,844,867 $3,391 $1,848,258 
The following demonstrates the change in equity attributable to EnerSys stockholders and nonredeemable noncontrolling interests during the third quarter and nine months ended December 31, 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 
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 benefit 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 
Stock-based compensation— — 5,144 — — — — 5,144 — 5,144 
Exercise of stock options— (1)2,015 — — — — 2,014 — 2,014 
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net— — (7,348)— — — — (7,348)— (7,348)
Contra equity - adjustment to indemnification receivable for acquisition related tax liability— — — — — — 475 475 — 475 
Purchase of common stock— — — (47,340)— — — (47,340)— (47,340)
Other— (1)151 194 — — — 344 — 344 
Net earnings— — — — 65,229 — — 65,229 — 65,229 
Dividends ($0.225 per common share)
— — 233 — (9,401)— — (9,168)— (9,168)
Other comprehensive income:
Pension funded status adjustment (net of tax benefit of $6)
— — — — — 21 — 21 — 21 
Net unrealized gain (loss) on derivative instruments (net of tax benefit of $762)
— — — — — 2,495 — 2,495 — 2,495 
Foreign currency translation adjustment— — — — — (31,647)— (31,647)(17)(31,664)
Balance at October 1, 2023$— $563 $612,490 $(787,888)$2,045,416 $(208,607)$(1,988)$1,659,986 $3,395 $1,663,381 
Stock-based compensation— — 9,817 — — — — 9,817 — 9,817 
Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net— — (2,144)— — — — (2,144)— (2,144)
Purchase of common stock— — — (34,991)— — — (34,991)— (34,991)
Other— — 11 221 — — — 232 — 232 
Net earnings— — — — 76,158 — — 76,158 — 76,158 
Dividends ($0.225 per common share)
— — 234 — (9,315)— — (9,081)— (9,081)
Other comprehensive income:
Pension funded status adjustment (net of tax benefit of $146)
— — — — — 21 — 21 — 21 
Net unrealized gain (loss) on derivative instruments (net of tax benefit of $2,051)
— — — — — (6,722)— (6,722)— (6,722)
Foreign currency translation adjustment— — — — — 33,258 — 33,258 98 33,356 
Balance at December 31, 2023$— $563 $620,408 $(822,658)$2,112,259 $(182,050)$(1,988)$1,726,534 $3,493 $1,730,027