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					Six-Month Periods Ended
	September 29, 2017		September 30, 2016			September 29, 2017		September 30, 2016
	(In thousands, except per share amounts)
Net income (loss)	$	205,086	$	(2,508	)	$	329,796	$	103,221
Shares used in computation:
Weighted-average ordinary shares outstanding	531,313		544,055			530,790		544,353
Basic earnings (losses) per share	$	0.39	$	0.00		$	0.62	$	0.19

Diluted earnings (losses) per share:
Net income (loss)	$	205,086	$	(2,508	)	$	329,796	$	103,221
Shares used in computation:
Weighted-average ordinary shares outstanding	531,313		544,055			530,790		544,353
Weighted-average ordinary share equivalents from stock options and awards (1) (2)	4,706		—			5,521		5,581
Weighted-average ordinary shares and ordinary share equivalents outstanding	536,019		544,055			536,311		549,934
Diluted earnings (losses) per share	$	0.38	$	0.00		$	0.61	$	0.19

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(1) Options to purchase ordinary shares of 0.1 million and 1.7 million during the three-month periods ended September 29, 2017 and September 30, 2016, respectively, and share bonus awards of 0.8 million and 3.4 million for the three-month periods ended September 29, 2017 and September 30, 2016, were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted-average ordinary share equivalents. As a result of the Company's net loss for the three-month period ended September 30, 2016, ordinary share equivalents from approximately 4.3 million options and share bonus awards were excluded from the calculation of diluted earnings (losses) per share.

(2) Options to purchase ordinary shares of 0.1 million and 0.9 million during the six-month periods ended September 29, 2017 and September 30, 2016, respectively, and share bonus awards of 0.5 million for the six-month period ended September 29, 2017 were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted-average ordinary share equivalents. An immaterial amount of anti-dilutive share bonus awards was excluded for the six-month period ended September 30, 2016.