EnerSys

For the period ended Dec 29, 2024. Filed Feb 5, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Dec 29, 2024 · Filed Feb 5, 2025

ENS$151.33-0.2%Stored close · as of Nov 10, 2026

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Contents

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, 2024	40,271,936
Purchase of treasury stock	(1,176,436)
Shares issued under equity-based compensation plans, net of equity awards surrendered for option price and taxes	329,172
Shares outstanding as of December 29, 2024	39,424,672

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, 2024	Before Reclassifications	Amounts Reclassified from AOCI	December 29, 2024
Pension funded status adjustment	$(9,798)	$—	$282	$(9,516)
Net unrealized gain (loss) on derivative instruments	755	(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 AOCI	Location 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 expense	236
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 AOCI	Location 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 expense	464
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 AOCI	Amounts Reclassified from AOCI	Location 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 expense	779
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 expense	186
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 AOCI	Location 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 expense	1,741
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 expense	212
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) · PreferredStock · CommonStock · Additional Paid-inCapital · TreasuryStock · RetainedEarnings · AccumulatedOtherComprehensiveIncome (Loss) · Contra-Equity · TotalEnerSysStockholders’Equity · Non-redeemableNon-ControllingInterests · TotalEquity
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)	PreferredStock	CommonStock	Additional Paid-inCapital	TreasuryStock	RetainedEarnings	AccumulatedOtherComprehensiveIncome (Loss)	Contra-Equity	TotalEnerSysStockholders’Equity	Non-redeemableNon-ControllingInterests	TotalEquity
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

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.