$FLEX
FLEX LTD.

2018 Q3 Form 10-Q Financial Statement

#000086637418000013 Filed on November 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $6.663B $6.270B
YoY Change 6.25% 4.36%
Cost Of Revenue $6.234B $5.877B
YoY Change 6.06% 3.2%
Gross Profit $402.3M $393.3M
YoY Change 2.28% 25.39%
Gross Profit Margin 6.04% 6.27%
Selling, General & Admin $228.7M $274.1M
YoY Change -16.59% 12.38%
% of Gross Profit 56.84% 69.7%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $147.3M $133.3M
YoY Change 10.5% 2.93%
% of Gross Profit 36.61% 33.89%
Operating Expenses $228.7M $274.1M
YoY Change -16.59% 12.38%
Operating Profit $173.6M $119.2M
YoY Change 45.69% 70.87%
Interest Expense $2.400M $29.60M
YoY Change -91.89% 11.7%
% of Operating Profit 1.38% 24.84%
Other Income/Expense, Net $11.11M -$27.55M
YoY Change -140.32% 11.86%
Pretax Income $108.8M $218.4M
YoY Change -50.19% 1381.57%
Income Tax $21.91M $13.33M
% Of Pretax Income 20.14% 6.1%
Net Earnings $86.89M $205.1M
YoY Change -57.63% -8277.27%
Net Earnings / Revenue 1.3% 3.27%
Basic Earnings Per Share $0.16 $0.39
Diluted Earnings Per Share $0.16 $0.38
COMMON SHARES
Basic Shares Outstanding 531.5M shares 531.3M shares
Diluted Shares Outstanding 534.5M shares 536.0M shares

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.378B $1.370B
YoY Change 0.58% -18.4%
Cash & Equivalents $1.378B $1.370B
Short-Term Investments
Other Short-Term Assets $935.0M $1.092B
YoY Change -14.37% 7.27%
Inventory $4.443B $3.774B
Prepaid Expenses
Receivables $2.859B $2.633B
Other Receivables $0.00 $0.00
Total Short-Term Assets $10.03B $8.868B
YoY Change 13.14% 4.84%
LONG-TERM ASSETS
Property, Plant & Equipment $2.278B $2.416B
YoY Change -5.7% 3.41%
Goodwill $1.083B $1.087B
YoY Change -0.41% 9.61%
Intangibles $375.4M $420.5M
YoY Change -10.71%
Long-Term Investments
YoY Change
Other Assets $957.2M $770.8M
YoY Change 24.18% 63.73%
Total Long-Term Assets $4.693B $4.694B
YoY Change -0.02% 11.69%
TOTAL ASSETS
Total Short-Term Assets $10.03B $8.868B
Total Long-Term Assets $4.693B $4.694B
Total Assets $14.73B $13.56B
YoY Change 8.59% 7.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.236B $5.231B
YoY Change 19.21% 15.87%
Accrued Expenses $406.0M $400.0M
YoY Change 1.5% 5.82%
Deferred Revenue $247.1M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $55.64M $46.98M
YoY Change 18.44% -28.79%
Total Short-Term Liabilities $8.155B $7.230B
YoY Change 12.78% 5.5%
LONG-TERM LIABILITIES
Long-Term Debt $2.870B $2.909B
YoY Change -1.36% 8.63%
Other Long-Term Liabilities $532.6M $550.0M
YoY Change -3.18% 4.76%
Total Long-Term Liabilities $3.402B $3.459B
YoY Change -1.65% 7.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.155B $7.230B
Total Long-Term Liabilities $3.402B $3.459B
Total Liabilities $11.56B $10.69B
YoY Change 8.11% 6.29%
SHAREHOLDERS EQUITY
Retained Earnings -$2.902B -$3.243B
YoY Change -10.5% -14.41%
Common Stock $6.617B $6.627B
YoY Change -0.16% -3.42%
Preferred Stock
YoY Change
Treasury Stock (at cost) $388.2M $388.2M
YoY Change 0.0% 0.0%
Treasury Stock Shares 50.24M shares 50.24M shares
Shareholders Equity $3.170B $2.872B
YoY Change
Total Liabilities & Shareholders Equity $14.73B $13.56B
YoY Change 8.59% 7.11%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $86.89M $205.1M
YoY Change -57.63% -8277.27%
Depreciation, Depletion And Amortization $147.3M $133.3M
YoY Change 10.5% 2.93%
Cash From Operating Activities -$764.3M -$1.476B
YoY Change -48.23% -659.31%
INVESTING ACTIVITIES
Capital Expenditures -$191.2M -$139.1M
YoY Change 37.46% -187.43%
Acquisitions
YoY Change
Other Investing Activities $1.151B $1.492B
YoY Change -22.87% -5780.67%
Cash From Investing Activities $959.5M $1.353B
YoY Change -29.07% -1310.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -62.40M -86.60M
YoY Change -27.94% -8.89%
NET CHANGE
Cash From Operating Activities -764.3M -1.476B
Cash From Investing Activities 959.5M 1.353B
Cash From Financing Activities -62.40M -86.60M
Net Change In Cash 132.8M -210.1M
YoY Change -163.21% -467.98%
FREE CASH FLOW
Cash From Operating Activities -$764.3M -$1.476B
Capital Expenditures -$191.2M -$139.1M
Free Cash Flow -$573.1M -$1.337B
YoY Change -57.14% -1375.51%

Facts In Submission

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0 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Tax Portion Attributable To Parent
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0 USD
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0 USD
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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0 USD
us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Parent
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0 USD
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0 USD
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0 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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CY2018Q1 us-gaap Other Liabilities Current
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CY2018Q3 us-gaap Other Liabilities Current
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CY2018Q3 us-gaap Other Liabilities Noncurrent
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CY2017Q3 us-gaap Other Nonoperating Income Expense
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us-gaap Other Nonoperating Income Expense
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CY2018Q3 us-gaap Other Nonoperating Income Expense
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us-gaap Other Nonoperating Income Expense
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Debt
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Payments For Other Financing Activities
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0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2017Q3 us-gaap Profit Loss
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us-gaap Profit Loss
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86885000 USD
us-gaap Profit Loss
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202920000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
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us-gaap Repayments Of Debt And Capital Lease Obligations
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us-gaap Repayments Of Debt And Capital Lease Obligations
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CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
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us-gaap Revenue From Contract With Customer Including Assessed Tax
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us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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0 USD
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0 USD
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0 USD
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CY2018Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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us-gaap Stock Repurchased And Retired During Period Shares
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us-gaap Stock Repurchased And Retired During Period Value
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60000000 USD
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CY2018Q1 us-gaap Treasury Stock Shares
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50239355 shares
CY2018Q1 us-gaap Treasury Stock Value
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CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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535027000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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531503000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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530426000 shares

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