EARNINGS PER SHARE

9 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

EARNINGS PER SHARE

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, 2021		December 31, 2020		December 31, 2021		December 31, 2020
	(In millions, except per share amounts)
Basic earnings per share:
Net income	$	227	$	208	$	769	$	373
Shares used in computation:
Weighted-average ordinary shares outstanding	469		500		481		500
Basic earnings per share	$	0.48	$	0.42	$	1.60	$	0.75
Diluted earnings per share:
Net income	$	227	$	208	$	769	$	373
Shares used in computation:
Weighted-average ordinary shares outstanding	469		500		481		500
Weighted-average ordinary share equivalents from RSU awards (1)	5		8		6		5
Weighted-average ordinary shares and ordinary share equivalents outstanding	474		508		487		505
Diluted earnings per share	$	0.48	$	0.41	$	1.58	$	0.74

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(1)Immaterial RSU awards for the three and nine-month periods ended December 31, 2021, and 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.