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SEGMENT REPORTING
 3 Months Ended
Jul. 01, 2022
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The Company reports its financial performance based on three operating and reportable segments, Flex Agility Solutions, Flex Reliability Solutions and Nextracker and analyzes operating income as the measure of segment profitability. The determination of these segments is based on several factors, including the nature of products and services, the nature of production processes, customer base, delivery channels and similar economic characteristics.
An operating segment's performance is evaluated based on its pre-tax operating contribution, or segment income. Segment income is defined as net sales less cost of sales, and segment selling, general and administrative expenses, and does not include intangible amortization, stock-based compensation, and legal and other. A portion of depreciation is allocated to the respective segments, together with other general corporate research and development and administrative expenses.
Selected financial information by segment is in the table below. Historical information for the first quarter of fiscal year ended March 31, 2022 has been recast to reflect the new operating and reportable segments in the table below and in Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations."
 Three-Month Periods Ended
 July 1, 2022July 2, 2021
 (In millions)
Net sales:
Flex Agility Solutions$3,991 $3,432 
Flex Reliability Solutions2,969 2,582 
Nextracker395 341 
Intersegment eliminations(8)(13)
$7,347 $6,342 
Segment income and reconciliation of operating income:
Flex Agility Solutions$171 $137 
Flex Reliability Solutions147 144 
Nextracker30 25 
Corporate and Other(18)(16)
   Total segment income 330 290 
Reconciling items:
Intangible amortization22 15 
Stock-based compensation26 20 
Legal and other (1)10 — 
    Operating income$272 $255 
(1)Legal and other consists of costs not directly related to core business results and may include matters relating to commercial disputes, government regulatory and compliance, intellectual property, antitrust, tax, employment or shareholder issues, product liability claims and other issues on a global basis as well as acquisition related costs and customer related asset recoveries. During the first quarter of fiscal year 2023, the Company accrued for certain loss contingencies where losses are considered probable and estimable.
Corporate and other primarily includes corporate services costs that are not included in the chief operating decision maker's ("CODM") assessment of the performance of each of the identified reportable segments.
The Company provides an overall platform of assets and services, which the segments utilize for the benefit of their various customers. The shared assets and services are contained within the Company's global manufacturing and design operations and include manufacturing and design facilities. Most of the underlying manufacturing and design assets are co-mingled in the operating campuses and are compatible to operate across segments and highly interchangeable throughout the platform. Given the highly interchangeable nature of the assets, they are not separately identified by segment nor reported by segment to the Company's CODM.