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SEGMENT REPORTING (Tables)
 12 Months Ended
Mar. 31, 2023
Segment Reporting, Measurement Disclosures [Abstract]  
Schedule of segment reporting information by operating segment
Selected financial information by segment is in the table below.
Fiscal Year Ended March 31,
202320222021
(In millions)
Net sales:
Flex Agility Solutions$15,769 $14,027 $13,493 
Flex Reliability Solutions12,733 10,603 9,495 
Nextracker1,903 1,458 1,195 
Intersegment eliminations(59)(47)(59)
$30,346 $26,041 $24,124 
Segment income and reconciliation of income before income taxes:
Flex Agility Solutions$694 $605 $449 
Flex Reliability Solutions607 546 484 
Nextracker203 90 178 
Corporate and Other(62)(72)(80)
Total segment income1,442 1,169 1,031 
Reconciling items:
Intangible amortization82 68 62 
Stock-based compensation133 91 79 
Customer related asset recoveries— — (7)
Restructuring charges (Note 16)27 15 101 
Legal and other (1)16 23 1 
Interest, net201 152 148 
Other charges (income), net 5 (164)16 
Equity in earnings (losses) of unconsolidated affiliates(4)61 83 
Income before income taxes$974 $1,045 $714 

(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 fiscal year 2023, the Company accrued for certain loss contingencies where losses are considered probable and estimable.

During the fiscal year 2022, the Company accrued for certain loss contingencies where losses are considered probable and estimable offset by a gain upon successful settlement of certain supplier claims.
Legal and other during fiscal year 2021 primarily consists of costs accrued for certain loss contingencies where losses are considered probable and estimable, offset by a gain on the sale of real estate in the fourth quarter of fiscal year 2021 exited as a result of the disengagement of a certain customer in fiscal year 2020. During fiscal years 2023, 2022 and 2021, depreciation expense included in the segments' measure of operating performance above is as follows.
Fiscal Year Ended March 31,
202320222021
(In millions)
Depreciation expense:
Flex Agility Solutions$177 $184 $185 
Flex Reliability Solutions217 204 210 
Nextracker4 3 2 
Corporate and Other16 18 25 
Total depreciation expense$414 $409 $422 
Schedule of geographic information by segment net sales
Geographic information of net sales is as follows:
Fiscal Year Ended March 31,
202320222021
(In millions)
Net sales by region:
Americas$13,773 45 %$10,839 42 %$9,672 40 %
Asia10,361 34 %9,601 37 %9,326 39 %
Europe6,212 21 %5,601 21 %5,126 21 %
$30,346 $26,041 $24,124 
The following table summarizes the countries that accounted for more than 10% of net sales in fiscal years 2023, 2022, and 2021:
 Fiscal Year Ended March 31,
202320222021
 (In millions)
Net sales by country:
Mexico$6,589 22 %$5,059 19 %$4,413 18 %
China6,539 22 %6,146 24 %6,147 25 %
U.S.5,020 17 %3,690 14 %3,648 15 %
Schedule of geographic information by segment long-lived assets
Geographic information of property and equipment, net is as follows:
As of March 31,
20232022
(In millions)
Property and equipment, net:
Americas$1,221 52 %$1,075 51 %
Asia618 26 %561 26 %
Europe510 22 %489 23 %
$2,349 $2,125 
The following table summarizes the countries that accounted for more than 10% of property and equipment, net in fiscal year 2023 and 2022:
Fiscal Year Ended March 31,
20232022
(In millions)
Property and equipment, net:
Mexico$763 32 %$626 29 %
U.S.365 16 %354 17 %
China338 14 %299 14 %