EARNINGS PER SHARE

9 Months Ended

Dec. 31, 2023

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, 2023		December 31, 2022		December 31, 2023		December 31, 2022
	(In millions, except per share amounts)
Basic earnings per share attributable to the shareholders of Flex Ltd.
Net income	$	233	$	237	$	850	$	670
Net income attributable to noncontrolling interest and redeemable noncontrolling interest	36		7		239		19
Net income attributable to Flex Ltd.	$	197	$	230	$	611	$	651
Shares used in computation:
Weighted-average ordinary shares outstanding	431		452		440		455
Basic earnings per share	$	0.46	$	0.51	$	1.39	$	1.43
Diluted earnings per share attributable to the shareholders of Flex Ltd.
Net income	$	233	$	237	$	850	$	670
Net income attributable to noncontrolling interest and redeemable noncontrolling interest	36		7		239		19
Net income attributable to Flex Ltd.	$	197	$	230	$	611	$	651
Shares used in computation:
Weighted-average ordinary shares outstanding	431		452		440		455
Weighted-average ordinary share equivalents from RSU awards (1)	5		7		6		7
Weighted-average ordinary shares and ordinary share equivalents outstanding	436		459		446		462
Diluted earnings per share	$	0.45	$	0.50	$	1.37	$	1.41

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(1)An immaterial amount of RSU awards for both the three and nine-month periods ended December 31, 2023 and December 31, 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.