$FLEX
FLEX LTD. Stock $flex

$flex Overview Financials Valuation SEC Filings Company Website

2017 Q2 Form 10-Q Financial Statement

#000086637417000008 Filed on August 01, 2017

Income Statement

Concept	2017 Q2	2016 Q3
Revenue	$6.008B	$6.009B
YoY Change		-4.88%
Cost Of Revenue	$5.601B	$5.695B
YoY Change		-3.8%
Gross Profit	$406.9M	$313.7M
YoY Change		-20.97%
Gross Profit Margin	6.77%	5.22%
Selling, General & Admin	$250.8M	$243.9M
YoY Change		12.52%
% of Gross Profit	61.63%	77.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$131.4M	$129.5M
YoY Change		7.2%
% of Gross Profit	32.29%	41.28%
Operating Expenses	$250.8M	$243.9M
YoY Change		12.52%
Operating Profit	$156.1M	$69.75M
YoY Change		-61.28%
Interest Expense	$29.00M	$26.50M
YoY Change		5.58%
% of Operating Profit	18.58%	37.99%
Other Income/Expense, Net	-$26.88M	-$24.63M
YoY Change		11.79%
Pretax Income	$145.5M	$14.74M
YoY Change		-89.49%
Income Tax	$20.80M	$17.25M
% Of Pretax Income	14.29%	117.01%
Net Earnings	$124.7M	-$2.508M
YoY Change		-102.04%
Net Earnings / Revenue	2.08%	-0.04%
Basic Earnings Per Share	$0.24	$0.00
Diluted Earnings Per Share	$0.23	$0.00
COMMON SHARES
Basic Shares Outstanding	530.3M shares	544.1M shares
Diluted Shares Outstanding	538.6M shares	544.1M shares

Balance Sheet

Concept	2017 Q2	2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$1.582B	$1.679B
YoY Change		0.66%
Cash & Equivalents	$1.582B	$1.537B
Short-Term Investments
Other Short-Term Assets	$1.049B	$1.018B
YoY Change		-15.8%
Inventory	$3.601B	$3.562B
Prepaid Expenses
Receivables	$2.326B	$2.341B
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$8.558B	$8.459B
YoY Change		-5.86%
LONG-TERM ASSETS
Property, Plant & Equipment	$2.346B	$2.336B
YoY Change		5.32%
Goodwill	$1.039B	$991.7M
YoY Change		58.07%
Intangibles	$454.0M
YoY Change
Long-Term Investments
YoY Change
Other Assets	$619.2M	$470.8M
YoY Change		-0.88%
Total Long-Term Assets	$4.459B	$4.203B
YoY Change		14.36%
TOTAL ASSETS
Total Short-Term Assets	$8.558B	$8.459B
Total Long-Term Assets	$4.459B	$4.203B
Total Assets	$13.02B	$12.66B
YoY Change		0.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$4.781B	$4.515B
YoY Change		-5.71%
Accrued Expenses	$359.0M	$378.0M
YoY Change		-5.74%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$45.66M	$65.97M
YoY Change		37.52%
Total Short-Term Liabilities	$6.758B	$6.854B
YoY Change		-2.55%
LONG-TERM LIABILITIES
Long-Term Debt	$2.919B	$2.678B
YoY Change		2.29%
Other Long-Term Liabilities	$530.1M	$525.0M
YoY Change		-5.19%
Total Long-Term Liabilities	$3.449B	$3.203B
YoY Change		0.98%
TOTAL LIABILITIES
Total Short-Term Liabilities	$6.758B	$6.854B
Total Long-Term Liabilities	$3.449B	$3.203B
Total Liabilities	$10.21B	$10.06B
YoY Change		-1.45%
SHAREHOLDERS EQUITY
Retained Earnings	-$3.448B	-$3.789B
YoY Change		-7.64%
Common Stock	$6.678B	$6.862B
YoY Change		-3.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$388.2M	$388.2M
YoY Change		0.0%
Treasury Stock Shares	50.24M shares	50.24M shares
Shareholders Equity	$2.722B	$2.562B
YoY Change
Total Liabilities & Shareholders Equity	$13.02B	$12.66B
YoY Change		0.01%

Cashflow Statement

Concept	2017 Q2	2016 Q3
OPERATING ACTIVITIES
Net Income	$124.7M	-$2.508M
YoY Change		-102.04%
Depreciation, Depletion And Amortization	$131.4M	$129.5M
YoY Change		7.2%
Cash From Operating Activities	-$695.8M	$263.9M
YoY Change		-11.93%
INVESTING ACTIVITIES
Capital Expenditures	$124.9M	$159.1M
YoY Change		-200.63%
Acquisitions		$9.492M
YoY Change
Other Investing Activities	$18.55M	-$26.26M
YoY Change		-95.81%
Cash From Investing Activities	$482.0M	-$111.8M
YoY Change		-85.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	$73.17M	$90.75M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-$23.09M	-$95.05M
YoY Change		-41.58%
NET CHANGE
Cash From Operating Activities	-$695.8M	$263.9M
Cash From Investing Activities	$482.0M	-$111.8M
Cash From Financing Activities	-$23.09M	-$95.05M
Net Change In Cash	-$236.8M	$57.10M
YoY Change		-108.82%
FREE CASH FLOW
Cash From Operating Activities	-$695.8M	$263.9M
Capital Expenditures	$124.9M	$159.1M
Free Cash Flow	-$820.6M	$104.8M
YoY Change		-77.1%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2017Q2	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2018
CY2017Q2	dei	Document Period End Date DocumentPeriodEndDate	2017-06-30
CY2017Q2	dei	Document Type DocumentType	10-Q
CY2017Q2	dei	Entity Central Index Key EntityCentralIndexKey	0000866374
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CY2017Q2	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2017Q2	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2017Q2	dei	Entity Registrant Name EntityRegistrantName	FLEX LTD.
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CY2017Q2	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent	10836000	USD
CY2016Q3	us-gaap	Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Parent OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent	0	USD
CY2017Q2	us-gaap	Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Parent OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent	0	USD
CY2017Q2	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax	11200000	USD
CY2017Q1	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	1613940000	USD
CY2017Q2	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	1572198000	USD
CY2017Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-3572648000	USD
CY2017Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-3447938000	USD
CY2016Q3	us-gaap	Sales Revenue Net SalesRevenueNet	5876813000	USD
CY2017Q2	us-gaap	Sales Revenue Net SalesRevenueNet	6008272000	USD
CY2016Q3	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	239546000	USD
CY2017Q1	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	519851000	USD
CY2017Q2	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	530091000	USD
CY2016Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-24399000	USD
CY2017Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-26876000	USD
CY2016Q3	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	-26261000	USD
CY2017Q2	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	18549000	USD
CY2016Q3	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	94715000	USD
CY2017Q2	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	73864000	USD
CY2016Q3	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	159103000	USD
CY2017Q2	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	124851000	USD
CY2016Q3	us-gaap	Proceeds From Divestiture Of Businesses Net Of Cash Divested ProceedsFromDivestitureOfBusinessesNetOfCashDivested	14828000	USD
CY2017Q2	us-gaap	Proceeds From Divestiture Of Businesses Net Of Cash Divested ProceedsFromDivestitureOfBusinessesNetOfCashDivested	-616000	USD
CY2016Q3	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	3966000	USD
CY2017Q2	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	696000	USD
CY2016Q3	us-gaap	Proceeds From Issuance Of Debt ProceedsFromIssuanceOfDebt	75018000	USD
CY2017Q2	us-gaap	Proceeds From Issuance Of Debt ProceedsFromIssuanceOfDebt	0	USD
CY2016Q3	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	12901000	USD
CY2017Q2	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	57628000	USD
CY2016Q3	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	15722000	USD
CY2017Q2	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	5476000	USD
CY2016Q3	us-gaap	Profit Loss ProfitLoss	105729000	USD
CY2017Q2	us-gaap	Profit Loss ProfitLoss	124710000	USD
CY2017Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	2317026000	USD
CY2017Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	2346440000	USD
CY2016Q3	us-gaap	Repayments Of Debt And Capital Lease Obligations RepaymentsOfDebtAndCapitalLeaseObligations	92222000	USD
CY2017Q2	us-gaap	Repayments Of Debt And Capital Lease Obligations RepaymentsOfDebtAndCapitalLeaseObligations	7554000	USD
CY2017Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	250811000	USD
CY2016Q3	us-gaap	Servicing Asset ServicingAsset	0	USD
CY2017Q2	us-gaap	Servicing Asset ServicingAsset	0	USD
CY2016Q3	us-gaap	Servicing Liability ServicingLiability	0	USD
CY2017Q2	us-gaap	Servicing Liability ServicingLiability	0	USD
CY2016Q3	us-gaap	Stock Repurchase Program Authorized Amount1 StockRepurchaseProgramAuthorizedAmount1	500000000	USD
CY2017Q2	us-gaap	Stock Repurchase Program Remaining Authorized Repurchase Amount1 StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1	211500000	USD
CY2017Q2	us-gaap	Stock Repurchased And Retired During Period Shares StockRepurchasedAndRetiredDuringPeriodShares	4500000	shares
CY2017Q2	us-gaap	Stock Repurchased And Retired During Period Value StockRepurchasedAndRetiredDuringPeriodValue	73900000	USD
CY2017Q1	us-gaap	Stockholders Equity StockholdersEquity	2644533000	USD
CY2017Q2	us-gaap	Stockholders Equity StockholdersEquity	2722203000	USD
CY2017Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	2678276000	USD
CY2017Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	2809778000	USD
CY2017Q1	us-gaap	Treasury Stock Shares TreasuryStockShares	50239355	shares
CY2017Q2	us-gaap	Treasury Stock Shares TreasuryStockShares	50239355	shares
CY2017Q1	us-gaap	Treasury Stock Value TreasuryStockValue	388215000	USD
CY2017Q2	us-gaap	Treasury Stock Value TreasuryStockValue	388215000	USD
CY2017Q1	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	16007000	USD
CY2017Q2	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	16092000	USD
CY2016Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	551029000	shares
CY2017Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	538633000	shares
CY2016Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	544631000	shares
CY2017Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	530268000	shares
CY2017Q2	us-gaap	Basis Of Accounting BasisOfAccounting	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Basis of Presentation</font></div><div style="line-height:120%;text-indent:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP” or “GAAP”) for interim financial information and in accordance with the requirements of Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements, and should be read in conjunction with the Company’s audited consolidated financial statements as of and for the fiscal year ended </font><font style="font-family:inherit;font-size:10pt;">March 31, 2017</font><font style="font-family:inherit;font-size:10pt;"> contained in the Company’s Annual Report on Form 10-K. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three-month period ended </font><font style="font-family:inherit;font-size:10pt;">June 30, 2017</font><font style="font-family:inherit;font-size:10pt;"> are not necessarily indicative of the results that may be expected for the fiscal year ending </font><font style="font-family:inherit;font-size:10pt;">March 31, 2018</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The first quarters for fiscal year 2018 and fiscal year </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;"> ended on </font><font style="font-family:inherit;font-size:10pt;">June 30, 2017</font><font style="font-family:inherit;font-size:10pt;">, which is comprised of </font><font style="font-family:inherit;font-size:10pt;">91 days</font><font style="font-family:inherit;font-size:10pt;"> in the period, and </font><font style="font-family:inherit;font-size:10pt;">July 1, 2016</font><font style="font-family:inherit;font-size:10pt;">, which is comprised of </font><font style="font-family:inherit;font-size:10pt;">92 days</font><font style="font-family:inherit;font-size:10pt;"> in the period, respectively.</font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited condensed consolidated financial statements include the accounts of Flex and its majority-owned subsidiaries, after elimination of intercompany accounts and transactions. The Company consolidates its majority-owned subsidiaries and investments in entities in which the Company has a controlling interest. For the consolidated majority-owned subsidiaries in which the Company owns less than 100%, the Company recognizes a noncontrolling interest for the ownership of the noncontrolling owners. Noncontrolling interests are presented as a separate component of total shareholders' equity in the condensed consolidated balance sheets. The associated noncontrolling owners' interests are immaterial for all of the periods presented, and are included in interest and other, net in the condensed consolidated statements of operations.</font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has certain non-majority-owned equity investments in non-publicly traded companies that are accounted for using the equity method of accounting. The equity method of accounting is used when the Company has the ability to significantly influence the operating decisions of the issuer, or if the Company has a voting percentage of a corporation equal to or generally greater than 20% but less than 50%, and for non-majority-owned investments in partnerships when generally greater than 5%. The equity in earnings (losses) of equity method investees are immaterial for all periods presented, and are included in interest and other, net in the condensed consolidated statements of operations.</font></div></div>

Files In Submission

Name	View Source	Status
0000866374-17-000008-index-headers.html	Edgar Link	pending
0000866374-17-000008-index.html	Edgar Link	pending
0000866374-17-000008.txt	Edgar Link	pending
0000866374-17-000008-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
flex-20170630.xml	Edgar Link	completed
flex-20170630.xsd	Edgar Link	pending
flex-20170630_cal.xml	Edgar Link	unprocessable
flex-20170630_def.xml	Edgar Link	unprocessable
flex-20170630_lab.xml	Edgar Link	unprocessable
flex-20170630_pre.xml	Edgar Link	unprocessable
flex-630201710xq.htm	Edgar Link	pending
flex-exx1002x63017.htm	Edgar Link	pending
flex-exx1003x63017.htm	Edgar Link	pending
flex-exx1004x63017.htm	Edgar Link	pending
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$FLEX
FLEX LTD. Stock $flex

2017 Q2 Form 10-Q Financial Statement

#000086637417000008 Filed on August 01, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$FLEX FLEX LTD. Stock $flex

2017 Q2 Form 10-Q Financial Statement

#000086637417000008 Filed on August 01, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$FLEX
FLEX LTD. Stock $flex