EARNINGS PER SHARE

The following table reflects basic weighted-average ordinary shares outstanding and diluted weighted-average ordinary share equivalents used to calculate basic and diluted earnings per share attributable to the shareholders of Flex Ltd.:



	Three-Month Periods Ended
	June 30, 2017		July 1, 2016
	(In thousands, except per share amounts)
Net income	$	124,710	$	105,729
Shares used in computation:
Weighted-average ordinary shares outstanding	530,268		544,631
Basic earnings per share	$	0.24	$	0.19

Diluted earnings per share:
Net income	$	124,710	$	105,729
Shares used in computation:
Weighted-average ordinary shares outstanding	530,268		544,631
Weighted-average ordinary share equivalents from stock options and awards (1)	8,365		6,398
Weighted-average ordinary shares and ordinary share equivalents outstanding	538,633		551,029
Diluted earnings per share	$	0.23	$	0.19

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(1) Options to purchase ordinary shares of 0.1 million and 1.0 million during the three-month periods ended June 30, 2017 and July 1, 2016, respectively, and share bonus awards of 0.1 million and 0.8 million for the three-month periods ended June 30, 2017 and July 1, 2016, respectively, were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted-average ordinary share equivalents.