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 1, 2017 : Shares outstanding as of March 31, 2017 43,447,536 Purchase of treasury stock (1,540,093 ) Shares issued towards equity-based compensation plans, net of equity awards surrendered for option price and taxes 217,260 Shares outstanding as of October 1, 2017 42,124,703 Accelerated Share Repurchase During the second quarter of fiscal 2018 , the Company entered into an accelerated share repurchase agreement (“ASR”) with a major financial institution to repurchase up to $100,000 of its common stock. The Company prepaid $100,000 and received an initial delivery of 1,278,976 shares with a fair market value of approximately $80,000 . The ASR is accounted for as a treasury stock repurchase, reducing the weighted average number of basic and diluted shares outstanding by the 1,278,976 shares initially received, and as a forward contract indexed to the Company's own common shares to reflect the future settlement provisions. Because the maximum repurchase will be $100,000 , as of October 1, 2017 , $20,000 representing the difference between the fair value of shares delivered and the maximum notional amount of $100,000 , is accounted for as an equity instrument and is included in additional paid-in capital. The ASR is not accounted for as a derivative instrument. Additional shares may be delivered to the Company on or before January 5, 2018 (scheduled settlement date), subject to the provisions of the ASR. The total number of shares to be repurchased will be determined on final settlement, with any additional shares reacquired being based generally on the volume-weighted average price of the Company's ordinary shares, minus a discount, during the repurchase period. Treasury Stock During the six months ended October 1, 2017 , the Company also acquired 261,117 shares for $21,191 through open market purchases. At October 1, 2017 and March 31, 2017 , the Company held 12,463,367 and 10,923,274 shares as treasury stock, respectively. Accumulated Other Comprehensive Income ( “ AOCI ” ) The components of AOCI, net of tax, as of October 1, 2017 and March 31, 2017 , are as follows: March 31, 2017 Before Reclassifications Amounts Reclassified from AOCI October 1, 2017 Pension funded status adjustment $ (25,555 ) $ — $ 665 $ (24,890 ) Net unrealized gain (loss) on derivative instruments 1,975 (9 ) 625 2,591 Foreign currency translation adjustment (129,244 ) 72,817 — (56,427 ) Accumulated other comprehensive (loss) income $ (152,824 ) $ 72,808 $ 1,290 $ (78,726 ) 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 cost of goods sold and operating expenses - See Note 10 Tax benefit (102 ) Net periodic benefit cost, net of tax $ 338 The following table presents reclassifications from AOCI during the second quarter ended October 2, 2016 : Components of AOCI Amounts Reclassified from AOCI Location of (Gain) Loss Recognized on Income Statement Derivatives in cash flow hedging relationships: Net gain on cash flow hedging derivative instruments $ (171 ) Cost of goods sold Tax expense 63 Net gain on derivative instruments, net of tax $ (108 ) Defined benefit pension costs: Prior service costs and deferrals $ 385 Net periodic benefit cost, included in cost of goods sold and operating expenses - See Note 10 Tax benefit (117 ) Net periodic benefit cost, net of tax $ 268 The following table presents reclassifications from AOCI during the six months 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 cost of goods sold and operating expenses - See Note 10 Tax benefit (205 ) Net periodic benefit cost, net of tax $ 665 The following table presents reclassifications from AOCI during the six months ended October 2, 2016 : Components of AOCI Amounts Reclassified from AOCI Location of (Gain) Loss Recognized on Income Statement Derivatives in cash flow hedging relationships: Net gain on cash flow hedging derivative instruments $ (1,050 ) Cost of goods sold Tax expense 387 Net gain on derivative instruments, net of tax $ (663 ) Defined benefit pension costs: Prior service costs and deferrals $ 782 Net periodic benefit cost, included in cost of goods sold and operating expenses - See Note 10 Tax benefit (233 ) Net periodic benefit cost, net of tax $ 549 The following demonstrates the change in equity attributable to EnerSys stockholders and nonredeemable noncontrolling interests during the six months ended October 1, 2017 : Equity Attributable to EnerSys Stockholders Nonredeemable Noncontrolling Interests Total Equity Balance as of March 31, 2017 $ 1,103,456 $ 4,913 $ 1,108,369 Total comprehensive income: Net earnings 91,423 50 91,473 Net unrealized gain on derivative instruments, net of tax 616 — 616 Pension funded status adjustment, net of tax 665 — 665 Foreign currency translation adjustment 72,817 31 72,848 Total other comprehensive gain, net of tax 74,098 31 74,129 Total comprehensive income 165,521 81 165,602 Other changes in equity: Purchase of treasury stock including ASR (121,191 ) — (121,191 ) Cash dividends - common stock ($0.35 per share) (14,967 ) — (14,967 ) Other, including activity related to equity awards 2,228 — 2,228 Balance as of October 1, 2017 $ 1,135,047 $ 4,994 $ 1,140,041 |