EARNINGS PER SHARE

9 Months Ended

Dec. 31, 2020

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:


	Three-Month Periods Ended				Nine-Month Periods Ended
	December 31, 2020		December 31, 2019		December 31, 2020		December 31, 2019
	(In millions, except per share amounts)
Basic earnings per share:
Net income	$	208	$	111	$	373	$	39
Shares used in computation:
Weighted-average ordinary shares outstanding	500		507		500		511
Basic earnings per share	$	0.42	$	0.22	$	0.75	$	0.08

Diluted earnings per share:
Net income	$	208	$	111	$	373	$	39
Shares used in computation:
Weighted-average ordinary shares outstanding	500		507		500		511
Weighted-average ordinary share equivalents from stock options and RSU awards (1) (2)	8		3		5		4
Weighted-average ordinary shares and ordinary share equivalents outstanding	508		510		505		515
Diluted earnings per share	$	0.41	$	0.22	$	0.74	$	0.08

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(1)An immaterial number of options to purchase ordinary shares were excluded from the computation of diluted earnings per share during the three and nine-month periods ended December 31, 2020 and December 31, 2019, respectively, due to their anti-dilutive impact on the weighted-average ordinary share equivalents.

(2)An immaterial number of RSU awards and 2.9 million RSU awards for the three and nine-month periods ended December 31, 2020, respectively, were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted-average ordinary share equivalents. RSU awards of 3.7 million and 4.0 million for the three and nine-month periods ended December 31, 2019, respectively, were excluded from the computation of diluted earnings per share.