$FLEX
FLEX LTD.

2023 Q4 Form 10-Q Financial Statement

#000086637423000066 Filed on October 30, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $7.103B $7.471B
YoY Change -8.42% 1.69%
Cost Of Revenue $6.400B $6.803B
YoY Change -10.71% -0.13%
Gross Profit $642.0M $665.0M
YoY Change 10.12% 24.3%
Gross Profit Margin 9.04% 8.9%
Selling, General & Admin $264.0M $272.0M
YoY Change 8.64% 12.86%
% of Gross Profit 41.12% 40.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $130.0M $127.0M
YoY Change 4.84% 2.42%
% of Gross Profit 20.25% 19.1%
Operating Expenses $264.0M $272.0M
YoY Change 8.64% 12.86%
Operating Profit $348.0M $376.0M
YoY Change 8.41% 38.24%
Interest Expense -$36.00M -$24.00M
YoY Change -38.98% -44.19%
% of Operating Profit -10.34% -6.38%
Other Income/Expense, Net $11.00M $11.00M
YoY Change -210.0% -127.5%
Pretax Income $307.0M $325.0M
YoY Change 17.18% 40.09%
Income Tax $74.00M -$81.00M
% Of Pretax Income 24.1% -24.92%
Net Earnings $197.0M $228.0M
YoY Change -14.35% 20.63%
Net Earnings / Revenue 2.77% 3.05%
Basic Earnings Per Share $0.46 $0.51
Diluted Earnings Per Share $0.45 $0.51
COMMON SHARES
Basic Shares Outstanding 434.9M shares 446.6M shares
Diluted Shares Outstanding 436.0M shares 448.0M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.764B $2.900B
YoY Change 7.76% 9.56%
Cash & Equivalents $2.764B $2.900B
Short-Term Investments
Other Short-Term Assets $1.089B $1.019B
YoY Change 13.08% 5.6%
Inventory $6.815B $7.166B
Prepaid Expenses
Receivables $3.605B $3.801B
Other Receivables $0.00 $0.00
Total Short-Term Assets $14.88B $15.46B
YoY Change -5.95% 2.09%
LONG-TERM ASSETS
Property, Plant & Equipment $2.328B $2.328B
YoY Change 1.7% 9.04%
Goodwill $1.348B $1.337B
YoY Change 0.6% 0.07%
Intangibles $266.0M $275.0M
YoY Change -19.88% -26.08%
Long-Term Investments
YoY Change
Other Assets $935.0M $956.0M
YoY Change 81.2% 111.04%
Total Long-Term Assets $5.489B $5.505B
YoY Change 8.2% 12.19%
TOTAL ASSETS
Total Short-Term Assets $14.88B $15.46B
Total Long-Term Assets $5.489B $5.505B
Total Assets $20.37B $20.97B
YoY Change -2.52% 4.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.292B $5.728B
YoY Change -20.18% -14.43%
Accrued Expenses $513.0M $742.0M
YoY Change 2.19% 8.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.000M $0.00
YoY Change -99.39% -100.0%
Total Short-Term Liabilities $9.386B $10.11B
YoY Change -19.56% -12.8%
LONG-TERM LIABILITIES
Long-Term Debt $3.431B $3.412B
YoY Change -2.58% 9.04%
Other Long-Term Liabilities $602.0M $597.0M
YoY Change 0.17% -6.72%
Total Long-Term Liabilities $4.033B $4.009B
YoY Change -2.18% 6.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.386B $10.11B
Total Long-Term Liabilities $4.033B $4.009B
Total Liabilities $13.92B $14.61B
YoY Change -14.54% -7.98%
SHAREHOLDERS EQUITY
Retained Earnings $51.00M -$146.0M
YoY Change -107.26% -87.46%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.965B $5.906B
YoY Change
Total Liabilities & Shareholders Equity $20.37B $20.97B
YoY Change -2.52% 4.56%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $197.0M $228.0M
YoY Change -14.35% 20.63%
Depreciation, Depletion And Amortization $130.0M $127.0M
YoY Change 4.84% 2.42%
Cash From Operating Activities $284.0M $357.0M
YoY Change -20.89% 839.47%
INVESTING ACTIVITIES
Capital Expenditures $130.0M $152.0M
YoY Change -181.76% 42.06%
Acquisitions
YoY Change
Other Investing Activities $13.00M $10.00M
YoY Change 160.0% -600.0%
Cash From Investing Activities -$117.0M -$142.0M
YoY Change -24.03% 59.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -308.0M 26.00M
YoY Change 96.18% -112.38%
NET CHANGE
Cash From Operating Activities 284.0M 357.0M
Cash From Investing Activities -117.0M -142.0M
Cash From Financing Activities -308.0M 26.00M
Net Change In Cash -141.0M 241.0M
YoY Change -393.75% -176.03%
FREE CASH FLOW
Cash From Operating Activities $284.0M $357.0M
Capital Expenditures $130.0M $152.0M
Free Cash Flow $154.0M $205.0M
YoY Change -70.27% -397.1%

Facts In Submission

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us-gaap Use Of Estimates
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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 geopolitical conflicts (including the Russian invasion of Ukraine and the Israel-Hamas war), 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 Russian invasion of Ukraine and the Israel-Hamas war. 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>
CY2023Q3 flex Number Of Supplier Finance Program
NumberOfSupplierFinanceProgram
4 program
CY2023Q1 us-gaap Supplier Finance Program Obligation
SupplierFinanceProgramObligation
275000000 usd
us-gaap Supplier Finance Program Obligation Increase
SupplierFinanceProgramObligationIncrease
605000000 usd
us-gaap Supplier Finance Program Obligation Decrease Settlement
SupplierFinanceProgramObligationDecreaseSettlement
556000000 usd
flex Supplier Finance Program Foreign Currency Exchange Impact
SupplierFinanceProgramForeignCurrencyExchangeImpact
0 usd
CY2023Q3 us-gaap Supplier Finance Program Obligation
SupplierFinanceProgramObligation
324000000 usd
CY2023Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
707000000 usd
CY2023Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
709000000 usd
CY2023Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
801000000 usd
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
681000000 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
7166000000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
7530000000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
638000000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
363000000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
275000000 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
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
33000000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
62000000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
42000000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
35000000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
27000000 usd
CY2023Q3 flex Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
76000000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
275000000 usd
CY2023Q3 flex Customer Working Capital Advances
CustomerWorkingCapitalAdvances
2000000000 usd
CY2023Q1 flex Customer Working Capital Advances
CustomerWorkingCapitalAdvances
2300000000 usd
CY2023Q3 flex Other Liabilities Customer Related Accruals Current
OtherLiabilitiesCustomerRelatedAccrualsCurrent
242000000 usd
CY2023Q1 flex Other Liabilities Customer Related Accruals Current
OtherLiabilitiesCustomerRelatedAccrualsCurrent
313000000 usd
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
904000000 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
885000000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7471000000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7766000000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
14807000000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
15113000000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
45000000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
27000000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
86000000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
53000000 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
406000000 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
238000000 usd
us-gaap Profit Loss
ProfitLoss
617000000 usd
us-gaap Profit Loss
ProfitLoss
433000000 usd
CY2023Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
178000000 usd
CY2022Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
6000000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
203000000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
12000000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
228000000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
232000000 usd
us-gaap Net Income Loss
NetIncomeLoss
414000000 usd
us-gaap Net Income Loss
NetIncomeLoss
421000000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
443000000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
455000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
445000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
457000000 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.51
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.51
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.93
CY2023Q3 us-gaap Profit Loss
ProfitLoss
406000000 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
238000000 usd
us-gaap Profit Loss
ProfitLoss
617000000 usd
us-gaap Profit Loss
ProfitLoss
433000000 usd
CY2023Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
178000000 usd
CY2022Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
6000000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
203000000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
12000000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
228000000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
232000000 usd
us-gaap Net Income Loss
NetIncomeLoss
414000000 usd
us-gaap Net Income Loss
NetIncomeLoss
421000000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
443000000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
455000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
445000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
457000000 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
5000000 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
5000000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
7000000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
7000000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
448000000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
460000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
452000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
464000000 shares
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.51
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.50
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.92
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.91
CY2023Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
19000000 usd
CY2023Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
21000000 usd
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
3412000000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
3841000000 usd
CY2023Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 usd
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
150000000 usd
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3412000000 usd
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3691000000 usd
CY2023Q3 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.046
CY2023Q1 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.047
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1276000000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
547000000 usd
CY2023Q3 flex Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
1608000000 usd
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3431000000 usd
CY2023Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
42000000 usd
CY2022Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
44000000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
89000000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
87000000 usd
CY2023Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
18000000 usd
CY2022Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
5000000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
36000000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
9000000 usd
CY2023Q3 us-gaap Other Expenses
OtherExpenses
11000000 usd
CY2022Q3 us-gaap Other Expenses
OtherExpenses
8000000 usd
us-gaap Other Expenses
OtherExpenses
23000000 usd
us-gaap Other Expenses
OtherExpenses
13000000 usd
CY2023Q3 us-gaap Foreign Currency Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months
ForeignCurrencyCashFlowHedgeGainLossToBeReclassifiedDuringNext12Months
-7000000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-76000000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-162000000 usd
CY2023Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-5000000 usd
CY2022Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-64000000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-71000000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-98000000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
16000000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-312000000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
62000000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-142000000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-46000000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-170000000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
11000000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-6000000 usd
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
9000000 usd
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-10000000 usd
CY2023Q3 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
11500000 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
20100000 shares
CY2023Q3 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
309000000 usd
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
506000000 usd
CY2023Q3 us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
50200000 shares
CY2023Q3 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
388000000 usd
CY2023Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
2000000000 usd
CY2023Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
1800000000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
325000000 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
272000000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
564000000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
504000000 usd
CY2023Q3 us-gaap Restructuring Charges
RestructuringCharges
3000000 usd
CY2023Q1 us-gaap Restructuring Reserve
RestructuringReserve
50000000 usd
us-gaap Restructuring Charges
RestructuringCharges
26000000 usd
CY2023Q3 us-gaap Restructuring Reserve
RestructuringReserve
31000000 usd
CY2023Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
31000000 usd
CY2023Q3 us-gaap Restructuring Reserve Noncurrent
RestructuringReserveNoncurrent
0 usd
CY2023Q3 us-gaap Minority Interest
MinorityInterest
450000000 usd
CY2023Q1 us-gaap Minority Interest
MinorityInterest
355000000 usd
CY2023Q3 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
178000000 usd
us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
203000000 usd
CY2022Q3 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
0 usd
us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
0 usd
CY2023Q3 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
0 usd
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
0 usd
CY2022Q3 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
6000000 usd
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
12000000 usd
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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