SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Mar. 31, 2021

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,
	2021		2020		2019
	(In millions)
Cost of sales	$	20	$	15	$	20
Selling, general and administrative expenses	59		56		56
Total share-based compensation expense	$	79	$	71	$	76

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 2021, 2020, and 2019 was estimated using the following weighted-average assumptions:

	Fiscal Year Ended March 31,
	2021		2020		2019
Expected volatility	52.8	%	38.8	%	27.4	%
Average peer volatility	35.9	%	24.9	%	25.6	%
Average peer correlation	0.7		0.5		0.5
Expected dividends	—	%	—	%	—	%
Risk-free interest rate	0.3	%	1.8	%	2.7	%

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,
	2021			2020			2019
	Shares	Price		Shares	Price		Shares	Price
Unvested RSU awards outstanding, beginning of fiscal year	16,050,640	$	11.87	14,903,886	$	13.76	14,619,692	$	14.39
Granted	10,982,109	11.04		8,259,272	9.81		8,257,502	12.59
Vested	(5,520,005)	11.64		(4,222,524)	13.33		(5,952,039)	13.12
Forfeited	(4,204,119)	11.92		(2,889,994)	12.89		(2,021,269)	14.51
Unvested RSU awards outstanding, end of fiscal year	17,308,625	$	11.14	16,050,640	$	11.87	14,903,886	$	13.76

Schedule of share bonus awards with market conditions

Of the 17.3 million unvested RSU awards outstanding under all plans as of the fiscal year ended March 31, 2021, approximately 3.4 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, 2021 (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 2021	1,455,969	$	15.03	—	2,911,938	June 2023
Fiscal 2020	1,388,691	$	11.92	—	2,777,382	June 2022
Fiscal 2019	553,652	$	14.00	—	1,107,304	June 2021
Totals	3,398,312			—	6,796,624

(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.