$FLEX
FLEX LTD. Stock $flex

$flex Overview Financials Valuation SEC Filings Company Website

2023 Q2 Form 10-K Financial Statement

#000086637423000028 Filed on May 19, 2023

Income Statement

Concept	2023 Q2	2023 Q1	2023
Revenue	$7.336B	$7.477B	$30.35B
YoY Change		9.14%	16.53%
Cost Of Revenue	$6.732B	$6.903B	$28.06B
YoY Change		9.02%	16.45%
Gross Profit	$604.0M	$574.0M	$2.288B
YoY Change		13.66%	18.43%
Gross Profit Margin	8.23%	7.68%	7.54%
Selling, General & Admin	$270.0M	$266.0M	$995.0M
YoY Change		4.72%	11.55%
% of Gross Profit	44.7%	46.34%	43.49%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$133.0M	$130.0M	$82.00M
YoY Change		2.36%	-79.95%
% of Gross Profit	22.02%	22.65%	3.58%
Operating Expenses	$290.0M	$286.0M	$1.077B
YoY Change		450.0%	20.74%
Operating Profit	$314.0M	$288.0M	$1.211B
YoY Change		26.32%	24.59%
Interest Expense	-$47.00M	-$52.00M	-$205.0M
YoY Change		40.54%	345.65%
% of Operating Profit	-14.97%	-18.06%	-16.93%
Other Income/Expense, Net	-$5.000M	-$6.000M	-$5.000M
YoY Change		-97.25%	-200.0%
Pretax Income	$239.0M	$208.0M	$974.0M
YoY Change		5.58%	-6.79%
Income Tax	$28.00M	-$155.0M	-$59.00M
% Of Pretax Income	11.72%	-74.52%	-6.06%
Net Earnings	$186.0M	$142.0M	$793.0M
YoY Change		-15.48%	-15.28%
Net Earnings / Revenue	2.54%	1.9%	2.61%
Basic Earnings Per Share	$0.42	$0.31	$1.75
Diluted Earnings Per Share	$0.41	$0.31	$1.72
COMMON SHARES
Basic Shares Outstanding	444.5M shares	451.1M shares	454.0M shares
Diluted Shares Outstanding	455.0M shares	459.0M shares	462.0M shares

Balance Sheet

Concept	2023 Q2	2023 Q1	2023
SHORT-TERM ASSETS
Cash & Short-Term Investments	$2.660B	$3.294B	$3.294B
YoY Change		11.13%	11.13%
Cash & Equivalents	$2.660B	$3.294B	$3.294B
Short-Term Investments
Other Short-Term Assets	$1.002B	$917.0M	$917.0M
YoY Change		1.55%	1.55%
Inventory	$7.526B	$7.530B	$7.530B
Prepaid Expenses
Receivables	$4.352B	$4.280B	$4.280B
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$15.54B	$16.02B	$16.02B
YoY Change		11.75%	11.75%
LONG-TERM ASSETS
Property, Plant & Equipment	$2.987B	$2.957B	$2.957B
YoY Change		39.15%	7.06%
Goodwill	$1.344B	$1.343B
YoY Change		0.07%
Intangibles	$299.0M	$316.0M
YoY Change		-23.11%
Long-Term Investments			$115.0M
YoY Change			-12.41%
Other Assets	$766.0M	$758.0M	$758.0M
YoY Change		60.25%	121.83%
Total Long-Term Assets	$5.396B	$5.374B	$5.374B
YoY Change		7.74%	7.74%
TOTAL ASSETS
Total Short-Term Assets	$15.54B	$16.02B	$16.02B
Total Long-Term Assets	$5.396B	$5.374B	$5.374B
Total Assets	$20.94B	$21.40B	$21.40B
YoY Change		10.71%	10.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$5.890B	$5.930B	$5.930B
YoY Change		-5.18%	-5.18%
Accrued Expenses	$746.0M	$522.0M	$522.0M
YoY Change		11.06%	-38.47%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$151.0M	$150.0M	$150.0M
YoY Change		-84.19%	-84.19%
Total Short-Term Liabilities	$10.64B	$10.86B	$10.86B
YoY Change		1.34%	1.34%
LONG-TERM LIABILITIES
Long-Term Debt	$3.444B	$3.691B	$3.691B
YoY Change		13.64%	13.64%
Other Long-Term Liabilities	$1.068B	$1.143B	$1.143B
YoY Change		87.99%	-1.38%
Total Long-Term Liabilities	$4.512B	$4.834B	$4.834B
YoY Change		25.36%	9.69%
TOTAL LIABILITIES
Total Short-Term Liabilities	$10.64B	$10.86B	$10.86B
Total Long-Term Liabilities	$4.512B	$4.834B	$4.834B
Total Liabilities	$15.53B	$15.69B	$15.69B
YoY Change		3.78%	3.24%
SHAREHOLDERS EQUITY
Retained Earnings	-$374.0M	-$560.0M
YoY Change		-58.61%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$5.406B	$5.706B	$5.706B
YoY Change
Total Liabilities & Shareholders Equity	$20.94B	$21.40B	$21.40B
YoY Change		10.71%	10.71%

Cashflow Statement

Concept	2023 Q2	2023 Q1	2023
OPERATING ACTIVITIES
Net Income	$186.0M	$142.0M	$793.0M
YoY Change		-15.48%	-15.28%
Depreciation, Depletion And Amortization	$133.0M	$130.0M	$82.00M
YoY Change		2.36%	-79.95%
Cash From Operating Activities	$6.000M	$450.0M	$950.0M
YoY Change		25.0%	-7.23%
INVESTING ACTIVITIES
Capital Expenditures	$167.0M	$180.0M	$635.0M
YoY Change		-263.64%	43.34%
Acquisitions	$0.00		-$2.000M
YoY Change			-100.37%
Other Investing Activities	$12.00M	$1.000M	-$7.000M
YoY Change		-107.69%	-36.36%
Cash From Investing Activities	-$155.0M	-$179.0M	-$604.0M
YoY Change		45.53%	-36.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-486.0M	455.0M	$2.000M
YoY Change		164.53%	-99.29%
NET CHANGE
Cash From Operating Activities	6.000M	450.0M	$950.0M
Cash From Investing Activities	-155.0M	-179.0M	-$604.0M
Cash From Financing Activities	-486.0M	455.0M	$2.000M
Net Change In Cash	-635.0M	726.0M	$330.0M
YoY Change		77.51%	0.92%
FREE CASH FLOW
Cash From Operating Activities	$6.000M	$450.0M	$950.0M
Capital Expenditures	$167.0M	$180.0M	$635.0M
Free Cash Flow	-$161.0M	$270.0M	$315.0M
YoY Change		-42.55%	-45.78%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2023	dei	Amendment Flag AmendmentFlag	false
CY2023	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2023	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	FY
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CY2023	dei	Document Period End Date DocumentPeriodEndDate	2023-03-31
CY2023	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--03-31
CY2023	dei	Document Transition Report DocumentTransitionReport	false
CY2023	dei	Entity File Number EntityFileNumber	000-23354
CY2023	dei	Entity Registrant Name EntityRegistrantName	FLEX LTD.
CY2023	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	U0
CY2023	dei	Entity Address Address Line1 EntityAddressAddressLine1	2 Changi South Lane,
CY2023	dei	Entity Address Country EntityAddressCountry	SG
CY2023	dei	Entity Address City Or Town EntityAddressCityOrTown	Singapore
CY2023	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	486123
CY2023	dei	City Area Code CityAreaCode	65
CY2023	dei	Local Phone Number LocalPhoneNumber	6876-9899
CY2023	dei	Security12b Title Security12bTitle	Ordinary Shares, No Par Value
CY2023	dei	Trading Symbol TradingSymbol	FLEX
CY2023	dei	Security Exchange Name SecurityExchangeName	NASDAQ
CY2023	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	Yes
CY2023	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
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CY2023	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
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CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	2637000000	usd
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CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	2637000000	usd
CY2023Q1	us-gaap	Number Of Countries In Which Entity Operates NumberOfCountriesInWhichEntityOperates	30	country
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CY2023	flex	Noncontrolling Interest Pro Rated Annual Preferred Dividend Amount NoncontrollingInterestProRatedAnnualPreferredDividendAmount	21000000	usd
CY2022	flex	Noncontrolling Interest Pro Rated Annual Preferred Dividend Amount NoncontrollingInterestProRatedAnnualPreferredDividendAmount	4000000	usd
CY2023Q1	flex	Common Stock Exchange Ratio CommonStockExchangeRatio	1
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CY2023	us-gaap	Use Of Estimates UseOfEstimates	<div style="margin-bottom:8pt;margin-top:8pt"><span style="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:24.75pt"><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 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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CY2023	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments which potentially subject the Company to concentrations of credit risk are primarily accounts receivable, derivative instruments, and cash and cash equivalents.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Customer Credit Risk</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has an established customer credit policy, through which it manages customer credit exposures through credit evaluations, credit limit setting, monitoring, and enforcement of credit limits for new and existing customers. The Company performs ongoing credit evaluations of its customers' financial condition and makes provisions for doubtful accounts based on the outcome of those credit evaluations. The Company evaluates the collectability of its accounts receivable based on specific customer circumstances, current economic trends, historical experience with collections and the age of past due receivables. To the extent the Company identifies exposures as a result of credit or customer evaluations, the Company also reviews other customer related exposures, including but not limited to inventory and related contractual obligations.</span></div>
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CY2023Q1	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	4217000000	usd
CY2022Q1	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	3979000000	usd
CY2023Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	2349000000	usd
CY2022Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	2125000000	usd
CY2023	us-gaap	Depreciation Depreciation	414000000	usd
CY2022	us-gaap	Depreciation Depreciation	409000000	usd
CY2021	us-gaap	Depreciation Depreciation	422000000	usd
CY2021	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	62000000	usd
CY2023Q1	flex	Finite Lived Intangible Assets Removed Due To Fully Amortized FiniteLivedIntangibleAssetsRemovedDueToFullyAmortized	14000000	usd
CY2023	us-gaap	Finite Lived Intangible Assets Foreign Currency Translation Gain Loss FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss	15000000	usd
CY2021Q1	us-gaap	Goodwill Goodwill	1090000000	usd
CY2022	us-gaap	Goodwill Transfers GoodwillTransfers	0	usd
CY2022	us-gaap	Goodwill Acquired During Period GoodwillAcquiredDuringPeriod	272000000	usd
CY2022	us-gaap	Goodwill Foreign Currency Translation Gain Loss GoodwillForeignCurrencyTranslationGainLoss	-20000000	usd
CY2022Q1	us-gaap	Goodwill Goodwill	1342000000	usd
CY2023	us-gaap	Goodwill Purchase Accounting Adjustments GoodwillPurchaseAccountingAdjustments	-2000000	usd
CY2023	us-gaap	Goodwill Foreign Currency Translation Gain Loss GoodwillForeignCurrencyTranslationGainLoss	3000000	usd
CY2023Q1	us-gaap	Goodwill Goodwill	1343000000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	70000000	usd
CY2023Q1	us-gaap	Acquired Finite Lived Intangible Asset Residual Value AcquiredFiniteLivedIntangibleAssetResidualValue	0	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	672000000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	356000000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	316000000	usd
CY2022Q1	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	704000000	usd
CY2022Q1	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	293000000	usd
CY2022Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	411000000	usd
CY2023	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	82000000	usd
CY2022	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	68000000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	63000000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	43000000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	36000000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Five FiniteLivedIntangibleAssetsAmortizationExpenseYearFive	27000000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense After Year Five FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive	77000000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	316000000	usd
CY2023Q1	us-gaap	Equity Securities Fv Ni Current And Noncurrent EquitySecuritiesFvNiCurrentAndNoncurrent	115000000	usd
CY2022Q1	us-gaap	Equity Securities Fv Ni Current And Noncurrent EquitySecuritiesFvNiCurrentAndNoncurrent	131000000	usd
CY2023	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-4000000	usd
CY2022	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	61000000	usd
CY2023Q1	flex	Customer Working Capital Advances CustomerWorkingCapitalAdvances	2300000000	usd
CY2022Q1	flex	Customer Working Capital Advances CustomerWorkingCapitalAdvances	1400000000	usd
CY2023Q1	flex	Other Liabilities Customer Related Accruals Current OtherLiabilitiesCustomerRelatedAccrualsCurrent	313000000	usd
CY2022Q1	flex	Other Liabilities Customer Related Accruals Current OtherLiabilitiesCustomerRelatedAccrualsCurrent	227000000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	90000000	usd
CY2023Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	632000000	usd
CY2023Q1	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	126000000	usd
CY2022Q1	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	132000000	usd
CY2023	us-gaap	Operating Lease Cost OperatingLeaseCost	151000000	usd
CY2022	us-gaap	Operating Lease Cost OperatingLeaseCost	156000000	usd
CY2023Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	608000000	usd
CY2022Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	637000000	usd
CY2023Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	632000000	usd
CY2022Q1	us-gaap	Operating Lease Liability OperatingLeaseLiability	683000000	usd
CY2023Q1	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P6Y7M6D
CY2022Q1	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P7Y1M6D
CY2023Q1	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.042
CY2022Q1	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.036
CY2023	us-gaap	Operating Lease Payments OperatingLeasePayments	151000000	usd
CY2022	us-gaap	Operating Lease Payments OperatingLeasePayments	158000000	usd
CY2023	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	119000000	usd
CY2022	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	78000000	usd
CY2023	us-gaap	Operating Lease Expense OperatingLeaseExpense	185000000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	150000000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	150000000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	130000000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	130000000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	104000000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	104000000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	86000000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	86000000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Five LesseeOperatingLeaseLiabilityPaymentsDueYearFive	74000000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due Year Five LesseeOperatingLeaseLiabilityPaymentsDueYearFive	74000000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due After Year Five LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive	178000000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due After Year Five LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive	178000000	usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	722000000	usd
CY2022	us-gaap	Operating Lease Expense OperatingLeaseExpense	180000000	usd
CY2021	us-gaap	Operating Lease Expense OperatingLeaseExpense	180000000	usd
CY2023Q1	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	885000000	usd
CY2022Q1	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	704000000	usd
CY2023	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	30346000000	usd
CY2022	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	26041000000	usd
CY2021	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	24124000000	usd
CY2023	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	133000000	usd
CY2022	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	91000000	usd
CY2021	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	79000000	usd
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CY2022	us-gaap	Profit Loss ProfitLoss	940000000	usd
CY2021	us-gaap	Profit Loss ProfitLoss	613000000	usd
CY2023	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	240000000	usd
CY2022	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	4000000	usd
CY2021	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	0	usd
CY2023	us-gaap	Net Income Loss NetIncomeLoss	793000000	usd
CY2022	us-gaap	Net Income Loss NetIncomeLoss	936000000	usd
CY2021	us-gaap	Net Income Loss NetIncomeLoss	613000000	usd
CY2023	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	454000000	shares
CY2022	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	476000000	shares
CY2021	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	499000000	shares
CY2023	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.75
CY2022	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.97
CY2021	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.23
CY2023	us-gaap	Profit Loss ProfitLoss	1033000000	usd
CY2022	us-gaap	Profit Loss ProfitLoss	940000000	usd
CY2021	us-gaap	Profit Loss ProfitLoss	613000000	usd
CY2023	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	240000000	usd
CY2022	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	4000000	usd
CY2021	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	0	usd
CY2023	us-gaap	Net Income Loss NetIncomeLoss	793000000	usd
CY2022	us-gaap	Net Income Loss NetIncomeLoss	936000000	usd
CY2021	us-gaap	Net Income Loss NetIncomeLoss	613000000	usd
CY2023	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	454000000	shares
CY2022	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	476000000	shares
CY2021	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	499000000	shares
CY2023	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	8000000	shares
CY2022	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	7000000	shares
CY2021	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	7000000	shares
CY2023	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	462000000	shares
CY2022	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	483000000	shares
CY2021	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	506000000	shares
CY2023	us-gaap	Income Loss From Continuing Operations Per Diluted Share IncomeLossFromContinuingOperationsPerDilutedShare	1.72
CY2022	us-gaap	Income Loss From Continuing Operations Per Diluted Share IncomeLossFromContinuingOperationsPerDilutedShare	1.94
CY2021	us-gaap	Income Loss From Continuing Operations Per Diluted Share IncomeLossFromContinuingOperationsPerDilutedShare	1.21
CY2023Q1	flex	Common Stock Exchange Ratio CommonStockExchangeRatio	1
CY2023Q1	us-gaap	Nonredeemable Noncontrolling Interest NonredeemableNoncontrollingInterest	355000000	usd
CY2022Q1	us-gaap	Nonredeemable Noncontrolling Interest NonredeemableNoncontrollingInterest	0	usd
CY2023Q1	us-gaap	Redeemable Noncontrolling Interest Equity Carrying Amount RedeemableNoncontrollingInterestEquityCarryingAmount	0	usd
CY2022Q1	us-gaap	Redeemable Noncontrolling Interest Equity Carrying Amount RedeemableNoncontrollingInterestEquityCarryingAmount	78000000	usd
CY2023	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	240000000	usd
CY2022	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	4000000	usd
CY2023Q1	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	21000000	usd
CY2023	us-gaap	Interest Paid Net InterestPaidNet	227000000	usd
CY2022	us-gaap	Interest Paid Net InterestPaidNet	169000000	usd
CY2021	us-gaap	Interest Paid Net InterestPaidNet	147000000	usd
CY2023	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	124000000	usd
CY2022	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	122000000	usd
CY2021	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	105000000	usd
CY2023	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	184000000	usd
CY2022	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	126000000	usd
CY2021	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	102000000	usd
CY2022Q1	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	18000000	usd
CY2023Q1	us-gaap	Long Term Debt LongTermDebt	3841000000	usd
CY2022Q1	us-gaap	Long Term Debt LongTermDebt	4197000000	usd
CY2023Q1	us-gaap	Long Term Debt Current LongTermDebtCurrent	150000000	usd
CY2022Q1	us-gaap	Long Term Debt Current LongTermDebtCurrent	949000000	usd
CY2023Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	3691000000	usd
CY2022Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	3248000000	usd
CY2023Q1	us-gaap	Line Of Credit Facility Remaining Borrowing Capacity LineOfCreditFacilityRemainingBorrowingCapacity	317000000	usd
CY2023Q1	us-gaap	Line Of Credit LineOfCredit	0	usd
CY2022Q1	us-gaap	Line Of Credit LineOfCredit	0	usd
CY2023Q1	us-gaap	Longterm Debt Weighted Average Interest Rate LongtermDebtWeightedAverageInterestRate	0.047
CY2022Q1	us-gaap	Longterm Debt Weighted Average Interest Rate LongtermDebtWeightedAverageInterestRate	0.040
CY2023Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Next Twelve Months LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths	150000000	usd
CY2023Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	253000000	usd
CY2023Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	1285000000	usd
CY2023Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour	0	usd
CY2023Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive	546000000	usd
CY2023Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal After Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive	1628000000	usd
CY2023Q1	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	3862000000	usd
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CY2021	us-gaap	Reclassification From Aoci Current Period Net Of Tax Attributable To Parent ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent	8000000	usd
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CY2022	us-gaap	Other Comprehensive Income Loss Before Reclassifications Net Of Tax OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax	-93000000	usd
CY2022	us-gaap	Reclassification From Aoci Current Period Net Of Tax Attributable To Parent ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent	-30000000	usd
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CY2023	us-gaap	Other Comprehensive Income Loss Before Reclassifications Net Of Tax OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax	-92000000	usd
CY2023	us-gaap	Reclassification From Aoci Current Period Net Of Tax Attributable To Parent ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent	-80000000	usd
CY2023	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	-12000000	usd
CY2023Q1	us-gaap	Guarantees Fair Value Disclosure GuaranteesFairValueDisclosure	0	usd
CY2022Q1	us-gaap	Guarantees Fair Value Disclosure GuaranteesFairValueDisclosure	0	usd
CY2022	us-gaap	Current Federal Tax Expense Benefit CurrentFederalTaxExpenseBenefit	3000000	usd
CY2023	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	99000000	usd
CY2022	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	352000000	usd
CY2021	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	242000000	usd
CY2023	us-gaap	Income Loss From Continuing Operations Before Income Taxes Foreign IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign	875000000	usd
CY2022	us-gaap	Income Loss From Continuing Operations Before Income Taxes Foreign IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign	693000000	usd
CY2021	us-gaap	Income Loss From Continuing Operations Before Income Taxes Foreign IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign	472000000	usd
CY2023	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	974000000	usd
CY2022	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	1045000000	usd
CY2021	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	714000000	usd
CY2023	us-gaap	Current Federal Tax Expense Benefit CurrentFederalTaxExpenseBenefit	6000000	usd
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CY2023	us-gaap	Current Income Tax Expense Benefit CurrentIncomeTaxExpenseBenefit	142000000	usd
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CY2021	us-gaap	Current Income Tax Expense Benefit CurrentIncomeTaxExpenseBenefit	106000000	usd
CY2023	us-gaap	Deferred Federal Income Tax Expense Benefit DeferredFederalIncomeTaxExpenseBenefit	1000000	usd
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CY2021	us-gaap	Deferred Federal Income Tax Expense Benefit DeferredFederalIncomeTaxExpenseBenefit	1000000	usd
CY2023	us-gaap	Deferred Foreign Income Tax Expense Benefit DeferredForeignIncomeTaxExpenseBenefit	-202000000	usd
CY2022	us-gaap	Deferred Foreign Income Tax Expense Benefit DeferredForeignIncomeTaxExpenseBenefit	-44000000	usd
CY2021	us-gaap	Deferred Foreign Income Tax Expense Benefit DeferredForeignIncomeTaxExpenseBenefit	-6000000	usd
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CY2023	us-gaap	Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate	166000000	usd
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CY2023	us-gaap	Income Tax Reconciliation Tax Contingencies IncomeTaxReconciliationTaxContingencies	-7000000	usd
CY2022	us-gaap	Income Tax Reconciliation Tax Contingencies IncomeTaxReconciliationTaxContingencies	12000000	usd
CY2021	us-gaap	Income Tax Reconciliation Tax Contingencies IncomeTaxReconciliationTaxContingencies	11000000	usd
CY2023	us-gaap	Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance	-47000000	usd
CY2022	us-gaap	Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance	12000000	usd
CY2021	us-gaap	Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance	35000000	usd
CY2023	flex	Effective Income Tax Rate Reconciliation Repatriation Reversal Of Foreign Earnings Amount EffectiveIncomeTaxRateReconciliationRepatriationReversalOfForeignEarningsAmount	4000000	usd
CY2022	flex	Effective Income Tax Rate Reconciliation Repatriation Reversal Of Foreign Earnings Amount EffectiveIncomeTaxRateReconciliationRepatriationReversalOfForeignEarningsAmount	-9000000	usd
CY2021	flex	Effective Income Tax Rate Reconciliation Repatriation Reversal Of Foreign Earnings Amount EffectiveIncomeTaxRateReconciliationRepatriationReversalOfForeignEarningsAmount	5000000	usd
CY2023	us-gaap	Income Tax Reconciliation Disposition Of Assets IncomeTaxReconciliationDispositionOfAssets	16000000	usd
CY2022	us-gaap	Income Tax Reconciliation Disposition Of Assets IncomeTaxReconciliationDispositionOfAssets	13000000	usd
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Files In Submission

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$FLEX
FLEX LTD. Stock $flex

2023 Q2 Form 10-K Financial Statement

#000086637423000028 Filed on May 19, 2023

Income Statement

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Facts In Submission

Files In Submission

$FLEX FLEX LTD. Stock $flex

2023 Q2 Form 10-K Financial Statement

#000086637423000028 Filed on May 19, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$FLEX
FLEX LTD. Stock $flex