EARNINGS PER SHARE

12 Months Ended

Mar. 31, 2024

Basic earnings per share excludes dilution and is computed by dividing net income by the weighted-average number of ordinary shares outstanding during the applicable periods.

Diluted earnings per share reflects the potential dilution from share-based compensation awards. The potential dilution from restricted share unit awards was computed using the treasury stock method based on the average fair market value of the Company's ordinary shares for the period.

The computation of earnings per share and weighted average shares outstanding of the Company’s common stock for the following periods is presented below:


	Fiscal Year Ended March 31,
	2024		2023		2022
	(In millions, except per share amounts)
Numerator:
Net income from continuing operations	$	872	$	683	$	872
Net income from discontinued operations, net of tax (Note 7)	373		350		68
Less: Net income attributable to noncontrolling interest and redeemable noncontrolling interest (Note 7)	239		240		4
Net income from discontinued operations attributable to Flex Ltd. (Note 7)	134		110		64
Total net income attributable to Flex Ltd.	$	1,006	$	793	$	936

Denominator:
Weighted-average ordinary shares outstanding - basic	435		454		476
Weighted-average ordinary share equivalents from RSU awards (1)	6		8		7
Weighted-average ordinary shares and ordinary share equivalents outstanding - diluted	441		462		483

Earnings per share - basic




Continuing operations	$	2.00	$	1.50	$	1.83
Discontinued operations, net of tax (Note 7)	0.31		0.25		0.14
Total attributable to the shareholders of Flex Ltd.	$	2.31	$	1.75	$	1.97

Earnings per share - diluted








Continuing operations	$	1.98	$	1.48	$	1.81
Discontinued operations, net of tax (Note 7)	0.30		0.24		0.13
Total attributable to the shareholders of Flex Ltd.	$	2.28	$	1.72	$	1.94

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(1)An immaterial amount of RSU awards during fiscal years 2024, 2023, and 2022, respectively, were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted average ordinary shares equivalents.