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 4, 2020: Shares outstanding as of March 31, 2020 42,323,305 Shares issued under equity-based compensation plans, net of equity awards surrendered for option price and taxes 251,888 Shares outstanding as of October 4, 2020 42,575,193 Treasury Stock During the six months ended October 4, 2020, the Company did not purchase any shares but purchased 581,140 shares for $34,561 during the six months ended September 29, 2019. At October 4, 2020 and March 31, 2020, the Company held 12,786,633 and 12,791,503 shares as treasury stock, respectively. During the six months ended October 4, 2020, the Company also issued 6,667 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 4, 2020 and March 31, 2020, are as follows: March 31, 2020 Before Reclassifications Amounts Reclassified from AOCI October 4, 2020 Pension funded status adjustment $ (22,794) $ — $ 596 $ (22,198) Net unrealized (loss) gain on derivative instruments (5,923) (2,812) 6,625 (2,110) Foreign currency translation adjustment (186,289) 60,828 — (125,461) Accumulated other comprehensive (loss) income $ (215,006) $ 58,016 $ 7,221 $ (149,769) The following table presents reclassifications from AOCI during the second quarter ended October 4, 2020: Components of AOCI Amounts Reclassified from AOCI Location of (Gain) Loss Recognized on Income Statement Derivatives in cash flow hedging relationships: Net unrealized loss on derivative instruments $ 4,597 Cost of goods sold Tax benefit (1,088) Net unrealized loss on derivative instruments, net of tax $ 3,509 Defined benefit pension costs: Prior service costs and deferrals $ 391 Net periodic benefit cost, included in other (income) expense, net - See Note 13 Tax benefit (86) Net periodic benefit cost, net of tax $ 305 The following table presents reclassifications from AOCI during the six months ended October 4, 2020: Components of AOCI Amounts Reclassified from AOCI Location of (Gain) Loss Recognized on Income Statement Derivatives in cash flow hedging relationships: Net unrealized loss on derivative instruments $ 8,679 Cost of goods sold Tax benefit (2,054) Net unrealized loss on derivative instruments, net of tax $ 6,625 Defined benefit pension costs: Prior service costs and deferrals $ 768 Net periodic benefit cost, included in other (income) expense, net - See Note 13 Tax benefit (172) Net periodic benefit cost, net of tax $ 596 The following table presents reclassifications from AOCI during the second quarter ended September 29, 2019: Components of AOCI Amounts Reclassified from AOCI Location of (Gain) Loss Recognized on Income Statement Derivatives in cash flow hedging relationships: Net unrealized loss on derivative instruments $ 3,110 Cost of goods sold Tax benefit (736) Net unrealized loss on derivative instruments, net of tax $ 2,374 Defined benefit pension costs: Prior service costs and deferrals $ 296 Net periodic benefit cost, included in other (income) expense, net - See Note 13 Tax benefit (59) Net periodic benefit cost, net of tax $ 237 The following table presents reclassifications from AOCI during the six months ended September 29, 2019: Components of AOCI Amounts Reclassified from AOCI Location of (Gain) Loss Recognized on Income Statement Derivatives in cash flow hedging relationships: Net unrealized loss on derivative instruments $ 2,452 Cost of goods sold Tax benefit (580) Net unrealized loss on derivative instruments, net of tax $ 1,872 Defined benefit pension costs: Prior service costs and deferrals $ 601 Net periodic benefit cost, included in other (income) expense, net - See Note 13 Tax benefit (127) Net periodic benefit cost, net of tax $ 474 The following demonstrates the change in equity attributable to EnerSys stockholders and nonredeemable noncontrolling interests during the second quarter and six months ended October 4, 2020: (In Thousands , Except Per Share Data) Common Additional Paid-in Treasury Retained Accumulated Contra-Equity Total Non- Total 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) 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 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 The following demonstrates the change in equity attributable to EnerSys stockholders and nonredeemable noncontrolling interests during the second quarter and six months ended September 29, 2019: (In Thousands , Except Per Share Data) Common Additional Paid-in Treasury Retained Accumulated Contra-Equity Total Non- Total Balance at March 31, 2019 $ — $ 548 $ 512,696 $ (530,760) $ 1,450,325 $ (142,682) $ (7,840) $ 1,282,287 $ 3,730 $ 1,286,017 Stock-based compensation — — 3,874 — — — — 3,874 — 3,874 Exercise of stock options — 3 35 — — — — 38 — 38 Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net — — (6,081) — — — — (6,081) — (6,081) Purchase of common stock — — — (23,029) — — — (23,029) — (23,029) Other — — (80) — — — — (80) — (80) Net earnings — — — — 48,636 — — 48,636 — 48,636 Dividends ($0.175 per common share) — — 133 — (7,632) — — (7,499) — (7,499) Other comprehensive income: Pension funded status adjustment (net of tax benefit of $68) — — — — — 237 — 237 — 237 Net unrealized gain (loss) on derivative instruments (net of tax benefit of $720) — — — — — (2,329) — (2,329) — (2,329) Foreign currency translation adjustment — — — — — (3,128) — (3,128) (83) (3,211) Balance at June 30, 2019 $ — $ 551 $ 510,577 $ (553,789) $ 1,491,329 $ (147,902) $ (7,840) $ 1,292,926 $ 3,647 $ 1,296,573 Stock-based compensation — — 4,994 — — — — 4,994 — 4,994 Exercise of stock options — — (13) — — — — (13) — (13) Shares issued under equity awards (taxes paid related to net share settlement of equity awards), net — — (169) — — — — (169) — (169) Purchase of common stock — — — (11,532) — — — (11,532) — (11,532) Contra equity - adjustment to indemnification receivable for acquisition related tax liability — — — — — — 2,002 2,002 — 2,002 Other — — — 213 — — — 213 — 213 Net earnings — — — — 62,698 — — 62,698 — 62,698 Dividends ($0.175 per common share) — — 209 — (7,608) — — (7,399) — (7,399) Other comprehensive income: Pension funded status adjustment (net of tax benefit of $59) — — — — — 237 — 237 — 237 Net unrealized gain (loss) on derivative instruments (net of tax benefit of $1,112) — — — — — 3,586 — 3,586 — 3,586 Foreign currency translation adjustment — — — — — (32,068) — (32,068) (131) (32,199) Balance at September 29, 2019 $ — $ 551 $ 515,598 $ (565,108) $ 1,546,419 $ (176,147) $ (5,838) $ 1,315,475 $ 3,516 $ 1,318,991 |