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SEGMENT REPORTING (Tables)
 12 Months Ended
Mar. 31, 2024
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,
202420232022
(In millions)
Net sales:
Flex Agility Solutions$13,923 $15,769 $14,027 
Flex Reliability Solutions12,492 12,733 10,606 
$26,415 $28,502 $24,633 
Segment income and reconciliation of income from continuing operations before income taxes:
Flex Agility Solutions$669 $694 $605 
Flex Reliability Solutions666 607 546 
Corporate and Other(68)(69)(81)
Total segment income1,267 1,232 1,070 
Reconciling items:
Intangible amortization70 81 60 
Stock-based compensation113 101 88 
Restructuring charges 172 27 15 
Customer related asset impairment14 — — 
Legal and other (1)45 6 17 
Interest expenses207 230 166 
Interest income56 30 14 
Other charges (income), net 44 6 (165)
Equity in earnings (losses) of unconsolidated affiliates8 (4)61 
Income from continuing operations before income taxes$666 $807 $964 
(1)Legal and other consists of costs not directly related to core business results including 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 fiscal year 2024, the Company recognized a $50 million loss contingency for a commercial dispute related to a construction matter with related production objectives.
During fiscal years 2023 and 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.
During fiscal years 2024, 2023 and 2022, depreciation expense included in the segments' measure of operating performance above is as follows.
Fiscal Year Ended March 31,
202420232022
(In millions)
Depreciation expense:
Flex Agility Solutions$171 $177 $184 
Flex Reliability Solutions241 217 204 
Total depreciation expense$412 $394 $388 
Schedule of geographic information by segment net sales
Geographic information of net sales is as follows:
Fiscal Year Ended March 31,
202420232022
(In millions)
Net sales by region:
Americas$12,232 46 %$11,906 42 %$9,414 38 %
Asia8,540 32 %10,384 36 %9,615 39 %
Europe5,643 22 %6,212 22 %5,604 23 %
$26,415 $28,502 $24,633 
The following table summarizes the countries that accounted for more than 10% of net sales in fiscal years 2024, 2023, and 2022:
 Fiscal Year Ended March 31,
202420232022
 (In millions)
Net sales by country:
Mexico$6,935 26 %$6,626 23 %$5,092 21 %
China5,117 19 %6,562 23 %6,160 25 %
U.S.3,598 14 %3,394 12 %2,414 10 %
Schedule of geographic information by segment long-lived assets
Geographic information of property and equipment, net is as follows:
As of March 31,
20242023
(In millions)
Property and equipment, net:
Americas$1,220 54 %$1,214 52 %
Asia565 25 %618 26 %
Europe484 21 %510 22 %
$2,269 $2,342 
The following table summarizes the countries that accounted for more than 10% of property and equipment, net in fiscal years 2024 and 2023:
Fiscal Year Ended March 31,
20242023
(In millions)
Property and equipment, net:
Mexico$793 35 %$763 33 %
U.S.334 15 %358 15 %
China307 14 %338 14 %