SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Mar. 31, 2022

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,
	2022		2021		2020
	(In millions)
Cost of sales	$	24	$	20	$	15
Selling, general and administrative expenses	67		59		56
Total share-based compensation expense	$	91	$	79	$	71

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 2022, 2021, and 2020 was estimated using the following weighted-average assumptions:

	Fiscal Year Ended March 31,
	2022		2021		2020
Expected volatility	54.6	%	52.8	%	38.8	%
Average peer volatility	39.8	%	35.9	%	24.9	%
Average peer correlation	0.4		0.7		0.5
Expected dividends	—	%	—	%	—	%
Risk-free interest rate	0.3	%	0.3	%	1.8	%

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,
	2022			2021			2020
	Shares	Price		Shares	Price		Shares	Price
Unvested RSU awards outstanding, beginning of fiscal year	17,308,625	$	11.14	16,050,640	$	11.87	14,903,886	$	13.76
Granted	7,276,643	18.48		10,982,109	11.04		8,259,272	9.81
Vested	(5,933,605)	10.87		(5,520,005)	11.64		(4,222,524)	13.33
Forfeited	(1,632,104)	12.42		(4,204,119)	11.92		(2,889,994)	12.89
Unvested RSU awards outstanding, end of fiscal year	17,019,559	$	14.13	17,308,625	$	11.14	16,050,640	$	11.87

Schedule of share bonus awards with market conditions

Of the 17.0 million unvested RSU awards outstanding under all plans as of the fiscal year ended March 31, 2022, approximately 2.9 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, 2022 (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 2022	409,526	$	25.86	—	819,052	June 2024
Fiscal 2021	1,243,848	15.03		—	2,487,696	June 2023
Fiscal 2020	1,200,639	11.92		—	2,401,278	June 2022
Totals	2,854,013				5,708,026

(1)    Vesting ranges from zero to 200% based on measurement of Flex's total shareholder return against Flex's peer companies for RSU awards granted in fiscal year 2022 and based on measurement of Flex's total shareholder return against the Standard and Poor's ("S&P") 500 Composite Index for RSU awards granted in fiscal years 2021 and 2020.

Of the 17.0 million unvested RSU awards outstanding under all plans as of the fiscal year ended March 31, 2022, approximately 0.4 million unvested RSU awards represent the target amount of grants made to certain key employees whereby vesting is contingent on meeting certain performance conditions summarized as follows:

	Targeted number of awards as of March 31, 2022 (in shares)			Range of shares that may be issued (1)
		Average grant date fair value (per share)
						Assessment date
Year of grant				Minimum	Maximum
Fiscal 2022	409,524	$	18.24	—	819,048	Mar 2024

(1)    Vesting ranges from zero to 200% based on performance of Flex's average earnings per share growth.