EARNINGS PER SHARE

6 Months Ended

Sep. 29, 2023

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				Six-Month Periods Ended
	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
	(In millions, except per share amounts)
Basic earnings per share attributable to the shareholders of Flex Ltd.
Net income	$	406	$	238	$	617	$	433
Net income attributable to noncontrolling interest and redeemable noncontrolling interest	178		6		203		12
Net income attributable to Flex Ltd.	$	228	$	232	$	414	$	421
Shares used in computation:
Weighted-average ordinary shares outstanding	443		455		445		457
Basic earnings per share	$	0.51	$	0.51	$	0.93	$	0.92

Diluted earnings per share attributable to the shareholders of Flex Ltd.
Net income	$	406	$	238	$	617	$	433
Net income attributable to noncontrolling interest and redeemable noncontrolling interest	178		6		203		12
Net income attributable to Flex Ltd.	$	228	$	232	$	414	$	421
Shares used in computation:
Weighted-average ordinary shares outstanding	443		455		445		457
Weighted-average ordinary share equivalents from RSU awards (1)	5		5		7		7
Weighted-average ordinary shares and ordinary share equivalents outstanding	448		460		452		464
Diluted earnings per share	$	0.51	$	0.50	$	0.92	$	0.91

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(1)An immaterial amount of RSU awards and 2.1 million RSU awards for the three and six-month periods ended September 29, 2023, respectively, and an immaterial amount of RSU awards and 3.4 million RSU awards for the three and six-month periods ended September 30, 2022, respectively, were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted-average ordinary share equivalents.