EnerSys ENS Contract Liabilities, Non-Current

Any payments that are received from a customer in advance, prior to the satisfaction of a related performance obligation and billings in excess of revenue recognized, are deferred and treated as a contract liability. Advance payments and billings in excess of revenue recognized are classified as current or non-current based on the timing of when recognition of revenue is expected. As of December 28, 2025, the current and non-current portion of contract liabilities were $37,300 and $1,346, respectively. As of March 31, 2025, the current and non-current portion of contract liabilities were $28,820 and $488, respectively. Revenues recognized during the third quarter of fiscal 2026 and 2025 that were included in the contract liability at the beginning of the quarter amounted to $7,875 and $6,829, respectively. Revenues recognized during the nine months of fiscal 2026 and 2025 that were included in the contract liability at the beginning of the year, amounted to $7,107 and $9,713, respectively.