$FLEX
FLEX LTD.

2019 Q3 Form 10-Q Financial Statement

#000086637419000013 Filed on October 30, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3
Revenue $6.088B $6.663B
YoY Change -8.62% 6.25%
Cost Of Revenue $5.785B $6.234B
YoY Change -7.2% 6.06%
Gross Profit $189.0M $402.3M
YoY Change -53.02% 2.28%
Gross Profit Margin 3.1% 6.04%
Selling, General & Admin $205.0M $228.7M
YoY Change -10.35% -16.59%
% of Gross Profit 108.47% 56.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $166.8M $147.3M
YoY Change 13.24% 10.5%
% of Gross Profit 88.25% 36.61%
Operating Expenses $205.0M $228.7M
YoY Change -10.35% -16.59%
Operating Profit -$16.00M $173.6M
YoY Change -109.22% 45.69%
Interest Expense $2.400M $2.400M
YoY Change 0.0% -91.89%
% of Operating Profit 1.38%
Other Income/Expense, Net $12.00M $11.11M
YoY Change 8.02% -140.32%
Pretax Income -$96.00M $108.8M
YoY Change -188.24% -50.19%
Income Tax $21.00M $21.91M
% Of Pretax Income 20.14%
Net Earnings -$117.0M $86.89M
YoY Change -234.66% -57.63%
Net Earnings / Revenue -1.92% 1.3%
Basic Earnings Per Share -$0.23 $0.16
Diluted Earnings Per Share -$0.23 $0.16
COMMON SHARES
Basic Shares Outstanding 513.0M shares 531.5M shares
Diluted Shares Outstanding 513.0M shares 534.5M shares

Balance Sheet

Concept 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.816B $1.378B
YoY Change 31.79% 0.58%
Cash & Equivalents $1.816B $1.378B
Short-Term Investments
Other Short-Term Assets $1.335B $935.0M
YoY Change 42.82% -14.37%
Inventory $3.721B $4.443B
Prepaid Expenses
Receivables $2.415B $2.859B
Other Receivables $0.00 $0.00
Total Short-Term Assets $9.493B $10.03B
YoY Change -5.39% 13.14%
LONG-TERM ASSETS
Property, Plant & Equipment $2.217B $2.278B
YoY Change -2.65% -5.7%
Goodwill $1.062B $1.083B
YoY Change -1.85% -0.41%
Intangibles $292.2M $375.4M
YoY Change -22.17% -10.71%
Long-Term Investments
YoY Change
Other Assets $623.6M $957.2M
YoY Change -34.85% 24.18%
Total Long-Term Assets $4.784B $4.693B
YoY Change 1.94% -0.02%
TOTAL ASSETS
Total Short-Term Assets $9.493B $10.03B
Total Long-Term Assets $4.784B $4.693B
Total Assets $14.28B $14.73B
YoY Change -3.05% 8.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.227B $6.236B
YoY Change -16.17% 19.21%
Accrued Expenses $746.0M $406.0M
YoY Change 83.74% 1.5%
Deferred Revenue $341.5M $247.1M
YoY Change 38.2%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $32.45M $55.64M
YoY Change -41.68% 18.44%
Total Short-Term Liabilities $7.558B $8.155B
YoY Change -7.32% 12.78%
LONG-TERM LIABILITIES
Long-Term Debt $2.958B $2.870B
YoY Change 3.08% -1.36%
Other Long-Term Liabilities $442.7M $532.6M
YoY Change -16.87% -3.18%
Total Long-Term Liabilities $3.401B $3.402B
YoY Change -0.04% -1.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.558B $8.155B
Total Long-Term Liabilities $3.401B $3.402B
Total Liabilities $10.96B $11.56B
YoY Change -5.17% 8.11%
SHAREHOLDERS EQUITY
Retained Earnings -$3.062B -$2.902B
YoY Change 5.5% -10.5%
Common Stock $6.617B
YoY Change -0.16%
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 $2.806B $3.170B
YoY Change
Total Liabilities & Shareholders Equity $14.28B $14.73B
YoY Change -3.05% 8.59%

Cashflow Statement

Concept 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$117.0M $86.89M
YoY Change -234.66% -57.63%
Depreciation, Depletion And Amortization $166.8M $147.3M
YoY Change 13.24% 10.5%
Cash From Operating Activities -$991.5M -$764.3M
YoY Change 29.73% -48.23%
INVESTING ACTIVITIES
Capital Expenditures -$109.4M -$191.2M
YoY Change -42.78% 37.46%
Acquisitions
YoY Change
Other Investing Activities $978.1M $1.151B
YoY Change -14.99% -22.87%
Cash From Investing Activities $868.6M $959.5M
YoY Change -9.47% -29.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 25.40M -62.40M
YoY Change -140.71% -27.94%
NET CHANGE
Cash From Operating Activities -991.5M -764.3M
Cash From Investing Activities 868.6M 959.5M
Cash From Financing Activities 25.40M -62.40M
Net Change In Cash -97.50M 132.8M
YoY Change -173.42% -163.21%
FREE CASH FLOW
Cash From Operating Activities -$991.5M -$764.3M
Capital Expenditures -$109.4M -$191.2M
Free Cash Flow -$882.1M -$573.1M
YoY Change 53.92% -57.14%

Facts In Submission

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IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
108794000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-31584000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
250431000 USD
CY2019Q3 us-gaap Restructuring Charges
RestructuringCharges
128300000 USD
us-gaap Restructuring Charges
RestructuringCharges
184500000 USD
CY2019Q1 us-gaap Restructuring Reserve
RestructuringReserve
32434000 USD
us-gaap Restructuring Charges
RestructuringCharges
184507000 USD
CY2019Q3 us-gaap Restructuring Reserve
RestructuringReserve
69083000 USD
CY2019Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
69083000 USD
CY2019Q3 us-gaap Restructuring Reserve Noncurrent
RestructuringReserveNoncurrent
0 USD

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