SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement, Expensed and Capitalized, Amount [Abstract]

Schedule of share-based compensation expense

The following table summarizes the Company's share-based compensation expense for all equity incentive plans:

	Fiscal Year Ended March 31,
	2020		2019		2018
	(In thousands)
Cost of sales	$	15,174	$	19,554	$	19,102
Selling, general and administrative expenses	56,372		56,478		66,142
Total share-based compensation expense	$	71,546	$	76,032	$	85,244

Schedule of weighted-average assumptions

The fair value of the Company's RSU awards under the 2017 Plan, whereby vesting is contingent on meeting certain market conditions, for fiscal years 2020, 2019, and 2018 was estimated using the following weighted-average assumptions:

	Fiscal Year Ended March 31,
	2020		2019		2018
Expected volatility	38.8	%	27.4	%	25.1	%
Average peer volatility	24.9	%	25.6	%	28.7	%
Average peer correlation	0.5		0.5		0.6
Expected dividends	—	%	—	%	—	%
Risk-free interest rate	1.8	%	2.7	%	1.5	%

Schedule of share bonus award activity

The following table summarizes the Company's RSU award activity under all plans ("Price" reflects the weighted-average grant-date fair value):

	Fiscal Year Ended March 31,
	2020				2019				2018
	Shares		Price		Shares		Price		Shares		Price
Unvested RSU awards outstanding, beginning of fiscal year	14,903,886		$	13.76	14,619,692		$	14.39	17,242,019		$	12.24
Granted (1)	8,259,272		9.81		8,257,502		12.59		6,680,739		16.97
Vested (1)	(4,222,524	)	13.33		(5,952,039	)	13.12		(6,945,393	)	11.86
Forfeited	(2,889,994	)	12.89		(2,021,269	)	14.51		(2,357,673	)	12.20
Unvested RSU awards outstanding, end of fiscal year	16,050,640		$	11.87	14,903,886		$	13.76	14,619,692		$	14.39

(1)

Included in the fiscal years 2018 amounts are 0.7 million of RSU awards, representing the number of awards achieved above target levels based on the achievement of certain market conditions, as further described in the table below. These awards were issued and immediately vested in accordance with the terms and conditions of the underlying awards.

Schedule of share bonus awards with market conditions

Of the 16.1 million unvested RSU awards outstanding under all plans as of the fiscal year ended March 31, 2020, approximately 3.3 million unvested RSU awards represent the target amount of grants made to certain key employees whereby vesting is contingent on meeting certain market conditions summarized as follows:

	Targeted number of awards as of March 31, 2020 (in shares)			Range of shares that may be issued (1)
		Average grant date fair value (per share)
						Assessment dates
Year of grant				Minimum	Maximum
Fiscal 2020	1,721,031	$	11.92	—	3,442,062	June 2022
Fiscal 2019	1,103,198	$	14.00	—	2,206,396	June 2021
Fiscal 2018 (2)	491,417	$	20.25	—	982,834	June 2020
Totals	3,315,646			—	6,631,292

(1)

Vesting ranges from zero to 200% based on measurement of Flex's total shareholder return against the Standard and Poor's ("S&P") 500 Composite Index.