EnerSys
For the period ended Mar 31, 2026. Filed May 20, 2026.
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FY2026 · Filed May 20, 2026
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8. Goodwill and Other Intangible Assets
- Goodwill and Other Intangible Assets
Other Intangible Assets
Information regarding the Company’s other intangible assets are as follows:
| March 31, | ||||||
|---|---|---|---|---|---|---|
| 2026 | 2025 | |||||
| GrossAmount | AccumulatedAmortization | NetAmount | GrossAmount | AccumulatedAmortization | NetAmount | |
| Indefinite-lived intangible assets: | ||||||
| Trademarks | $128,986 | $(953) | $128,033 | $129,210 | $(953) | $128,257 |
| Finite-lived intangible assets: | ||||||
| Customer relationships | 357,730 | (191,394) | 166,336 | 356,800 | (168,932) | 187,868 |
| Non-compete | 2,825 | (2,825) | — | 2,825 | (2,825) | — |
| Technology | 119,763 | (74,966) | 44,797 | 119,645 | (65,160) | 54,485 |
| Trademarks | 14,901 | (11,169) | 3,732 | 14,815 | (9,995) | 4,820 |
| Licenses | 1,196 | (1,196) | — | 1,196 | (1,196) | — |
| Total | $625,401 | $(282,503) | $342,898 | $624,491 | $(249,061) | $375,430 |
The Company’s amortization expense related to finite-lived intangible assets was $33,442, $31,805, and $27,993, for the years ended March 31, 2026, 2025 and 2024, respectively. The expected amortization expense based on the finite-lived intangible assets as of March 31, 2026, is $32,614 in fiscal 2027, $32,120 in fiscal 2028, $30,213 in fiscal 2029, $25,221 in fiscal 2030 and $23,675 in fiscal 2031.
Goodwill
The following table presents the changes in the carrying amount of goodwill by segment during fiscal 2025 and 2026:
| Energy Systems | Motive Power | Specialty | Total | |
|---|---|---|---|---|
| Balance at March 31, 2024 | $259,011 | $326,718 | $97,205 | $682,934 |
| Acquisitions | — | — | 50,821 | 50,821 |
| Foreign currency translation adjustment | (13,264) | 328 | 254 | (12,682) |
| Balance at March 31, 2025 | $245,747 | $327,046 | $148,280 | $721,073 |
| Acquisitions | — | — | 16,236 | 16,236 |
| Foreign currency translation adjustment | 9,975 | 3,972 | 1,168 | 15,115 |
| Balance at March 31, 2026 | $255,722 | $331,018 | $165,684 | $752,424 |
Impairment of goodwill, finite and indefinite-lived intangibles
Goodwill is tested annually for impairment during the fourth quarter or earlier upon the occurrence of certain events or substantive changes in circumstances that indicate goodwill is more likely than not impaired. The Company did not record any impairment relating to its goodwill during fiscal 2026, 2025, and 2024.
During fiscal year 2026, there were $402 non-cash charges related to impairment of indefinite-lived trademarks under the caption “Impairment of indefinite-lived intangibles” in the Consolidated Statements of Income. During the fiscal year 2024, the Company recorded non-cash charges of $13,619, related to impairment of indefinite-lived trademarks under the caption “Impairment of indefinite-lived intangibles” in the Consolidated Statements of Income. Management completed its evaluation of key inputs used to estimate the fair value of its indefinite-lived trademarks and determined that an impairment charge was appropriate.
The Company estimated tax-deductible goodwill to be approximately $108,580 and $122,904 as of March 31, 2026 and 2025, respectively.
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