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				Nine-Month Periods Ended
	December 31, 2017		December 31, 2016		December 31, 2017		December 31, 2016
	(In thousands, except per share amounts)
Net income	$	118,333	$	129,469	$	448,129	$	232,690
Shares used in computation:
Weighted-average ordinary shares outstanding	528,405		539,638		529,984		542,780
Basic earnings per share	$	0.22	$	0.24	$	0.85	$	0.43

Diluted earnings per share:
Net income	$	118,333	$	129,469	$	448,129	$	232,690
Shares used in computation:
Weighted-average ordinary shares outstanding	528,405		539,638		529,984		542,780
Weighted-average ordinary share equivalents from stock options and awards (1) (2)	5,947		5,384		5,988		5,592
Weighted-average ordinary shares and ordinary share equivalents outstanding	534,352		545,022		535,972		548,372
Diluted earnings per share	$	0.22	$	0.24	$	0.84	$	0.42

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(1) An immaterial amount of options and share bonus awards was excluded from the computation of diluted earnings per share during the three-month period ended December 31, 2017, due to their anti-dilutive impact on the weighted-average ordinary share equivalents. Options to purchase ordinary shares of 0.5 million and an immaterial amount of anti-dilutive share bonus awards was excluded for the three-month period ended December 31, 2016.

(2) An immaterial amount of options and share bonus awards was excluded from the computation of diluted earnings per share during the nine-month period ended December 31, 2017, due to their anti-dilutive impact on the weighted-average ordinary share equivalents. Options to purchase ordinary shares of 0.7 million and an immaterial amount of anti-dilutive share bonus awards was excluded for the nine-month period ended December 31, 2016.