$FLEX
FLEX LTD.

2022 Q4 Form 10-Q Financial Statement

#000086637422000074 Filed on October 31, 2022

View on sec.gov

Income Statement

Concept 2022 Q4
Revenue $7.756B
YoY Change 17.18%
Cost Of Revenue $7.168B
YoY Change 16.97%
Gross Profit $583.0M
YoY Change 18.74%
Gross Profit Margin 7.52%
Selling, General & Admin $243.0M
YoY Change 8.0%
% of Gross Profit 41.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $124.0M
YoY Change 5.08%
% of Gross Profit 21.27%
Operating Expenses $243.0M
YoY Change 8.0%
Operating Profit $321.0M
YoY Change 27.89%
Interest Expense -$59.00M
YoY Change 78.79%
% of Operating Profit -18.38%
Other Income/Expense, Net -$10.00M
YoY Change 25.0%
Pretax Income $262.0M
YoY Change 7.82%
Income Tax $25.00M
% Of Pretax Income 9.54%
Net Earnings $230.0M
YoY Change 1.32%
Net Earnings / Revenue 2.97%
Basic Earnings Per Share $0.51
Diluted Earnings Per Share $0.50
COMMON SHARES
Basic Shares Outstanding 452.8M shares
Diluted Shares Outstanding 459.0M shares

Balance Sheet

Concept 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.565B
YoY Change 4.35%
Cash & Equivalents $2.565B
Short-Term Investments
Other Short-Term Assets $963.0M
YoY Change 20.68%
Inventory $7.838B
Prepaid Expenses
Receivables $3.939B
Other Receivables $0.00
Total Short-Term Assets $15.82B
YoY Change 19.72%
LONG-TERM ASSETS
Property, Plant & Equipment $2.289B
YoY Change 8.38%
Goodwill $1.340B
YoY Change -0.45%
Intangibles $332.0M
YoY Change -22.43%
Long-Term Investments
YoY Change
Other Assets $516.0M
YoY Change 13.66%
Total Long-Term Assets $5.073B
YoY Change 2.24%
TOTAL ASSETS
Total Short-Term Assets $15.82B
Total Long-Term Assets $5.073B
Total Assets $20.89B
YoY Change 14.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.630B
YoY Change 10.65%
Accrued Expenses $502.0M
YoY Change 11.56%
Deferred Revenue $745.0M
YoY Change -51.9%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $494.0M
YoY Change -23.77%
Total Short-Term Liabilities $11.67B
YoY Change 21.01%
LONG-TERM LIABILITIES
Long-Term Debt $3.522B
YoY Change -7.27%
Other Long-Term Liabilities $601.0M
YoY Change 12.34%
Total Long-Term Liabilities $4.123B
YoY Change -4.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.67B
Total Long-Term Liabilities $4.123B
Total Liabilities $16.29B
YoY Change 16.57%
SHAREHOLDERS EQUITY
Retained Earnings -$702.0M
YoY Change -53.82%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.505B
YoY Change
Total Liabilities & Shareholders Equity $20.89B
YoY Change 14.95%

Cashflow Statement

Concept 2022 Q4
OPERATING ACTIVITIES
Net Income $230.0M
YoY Change 1.32%
Depreciation, Depletion And Amortization $124.0M
YoY Change 5.08%
Cash From Operating Activities $359.0M
YoY Change 99.44%
INVESTING ACTIVITIES
Capital Expenditures -$159.0M
YoY Change 72.83%
Acquisitions
YoY Change
Other Investing Activities $5.000M
YoY Change 150.0%
Cash From Investing Activities -$154.0M
YoY Change 71.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -157.0M
YoY Change -51.09%
NET CHANGE
Cash From Operating Activities 359.0M
Cash From Investing Activities -154.0M
Cash From Financing Activities -157.0M
Net Change In Cash 48.00M
YoY Change -120.78%
FREE CASH FLOW
Cash From Operating Activities $359.0M
Capital Expenditures -$159.0M
Free Cash Flow $518.0M
YoY Change 90.44%

Facts In Submission

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FLEX LTD.
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<div style="margin-bottom:8pt;margin-top:8pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Estimates are used in accounting for, among other things: allowances for doubtful accounts; inventory write-downs; valuation allowances for deferred tax assets; uncertain tax positions; valuation and useful lives of long-lived assets including property, equipment, and intangible assets; valuation of goodwill; valuation of investments in privately-held companies; asset impairments; fair values of financial instruments, notes receivable and derivative instruments; restructuring charges; contingencies; warranty provisions; incremental borrowing rates in determining the present value of lease payments; accruals for potential price adjustments arising from customer contracts; fair values of assets obtained and liabilities assumed in business combinations; and the fair values of stock options and restricted share unit awards granted under the Company's stock-based compensation plans. Due to the COVID-19 pandemic and geopolitical conflicts (including the Russian invasion of Ukraine), there has been and will continue to be uncertainty and disruption in the global economy and financial markets. The Company has made estimates and assumptions taking into consideration certain possible impacts due to the COVID-19 pandemic and the Russian invasion of Ukraine. These estimates may change, as new events occur, and additional information is obtained. Actual results may differ from previously estimated amounts, and such differences may be material to the condensed consolidated financial statements. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the period they occur.</span></div>
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