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SHARE-BASED COMPENSATION (Tables) | 12 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement, Recognized Amount [Abstract] |
Schedule of share-based compensation expense | The following table summarizes the Company's stock-based compensation expense for the 2017 Plan:
| Fiscal Year Ended March 31,
| 2025 |  | 2024 |  | 2023
| (In millions)
Cost of sales | $ | 32 |  |  | $ | 28 |  |  | $ | 24 |
Selling, general and administrative expenses | 93 |  |  | 85 |  |  | 77 |
Total share-based compensation expense | $ | 125 |  |  | $ | 113 |  |  | $ | 101 |
Schedule of restricted stock units valuation assumptions | The fair value of the Company's RSU awards under the 2017 Plan, whereby vesting is contingent on meeting certain market conditions, for fiscal years 2025, 2024, and 2023 was estimated using the following weighted-average assumptions:
| Fiscal Year Ended March 31,
| 2025 |  | 2024 |  | 2023
Expected volatility | 34.6 | % |  | 36.9 | % |  | 49.0 | %
Average peer volatility | 34.0 | % |  | 35.2 | % |  | 41.4 | %
Average peer correlation | 0.3 |  | 0.4 |  | 0.4
Risk-free interest rate | 4.4 | % |  | 4.3 | % |  | 3.0 | %
Schedule of RSU activity | The following table summarizes the Company's RSU award activity under the 2017 Plan ("Price" reflects the weighted-average grant-date fair value):
| Fiscal Year Ended March 31,
| 2025 |  | 2024 |  | 2023
| Shares |  | Price |  | Shares |  | Price |  | Shares |  | Price
Unvested RSU awards outstanding, beginning of fiscal year | 15,367,056 |  |  | $ | 17.73 |  |  | 15,348,615 |  |  | $ | 16.79 |  |  | 17,019,559 |  |  | $ | 14.13 |
Granted (1) | 5,747,499 |  |  | 33.38 |  |  | 6,162,067 |  |  | 27.86 |  |  | 8,416,650 |  |  | 18.22 |
Vested (1) | (8,213,127) |  |  | 16.46 |  |  | (8,529,857) |  |  | 14.34 |  |  | (9,229,198) |  |  | 12.51 |
Forfeited (2) | (1,170,193) |  |  | 20.88 |  |  | (994,150) |  |  | 19.76 |  |  | (858,396) |  |  | 15.31 |
Adjustment due to the Nextracker spin-off (3) | — |  |  |  |  | 3,380,381 |  |  |  |  | — |  |  |
Unvested RSU awards outstanding, end of fiscal year (4) | 11,731,235 |  |  | $ | 24.96 |  |  | 15,367,056 |  |  | $ | 17.73 |  |  | 15,348,615 |  |  | $ | 16.79 |
(1)Included in fiscal years 2025, 2024 and 2023, amounts are 0.7 million, 1.2 million and 1.2 million of share bonus awards representing the number of awards achieved above target levels based on the achievement of certain market and performance conditions for awards granted in fiscal years 2022, 2021 and 2020, respectively. These awards were issued and immediately vested in accordance with the terms and conditions of the underlying awards. (2)Includes immaterial RSU awards previously granted to Nextracker employees under the 2017 Plan canceled due to the Nextracker spin-off. (3)Represents an adjustment to the outstanding RSU awards under the terms of the 2017 Plan using a conversion ratio of approximately 1.29 as a result of the Nextracker spin-off. (4)The weighted-average grant date fair value of the RSUs included in the line item "Adjustment due to the Nextracker spin-off" is equal to the weighted-average grant date fair value of the awards at their respective grant date divided by a factor of approximately 1.29. The weighted-average grant date fair value of the unvested RSUs as of March 31, 2024 reflects the adjustment.
Schedule of nonvested share activity | Of the 11.7 million unvested RSU awards outstanding under the 2017 Plan as of the fiscal year ended March 31, 2025, approximately 1.2 million unvested RSU awards represents the target amount of grants made to certain key employees whereby vesting is contingent on meeting certain market conditions summarized as follows:
|  | Target number of awards as of March 31, 2025 (in shares) (1) |  |  |  |  |  | Range of shares that may be issued (2) |  |
|  | Average grant date fair value (per share) |  |  |  |
|  |  |  | Assessment dates
Year of grant |  |  |  | Minimum |  | Maximum |
Fiscal 2025 |  | 283,002 |  |  | $ | 42.36 |  |  |  |  | — |  |  | 566,004 |  |  | June 2027
Fiscal 2024 |  | 386,668 |  |  | $ | 35.55 |  |  |  |  | — |  |  | 773,336 |  |  | June 2026
Fiscal 2023 |  | 539,204 |  |  | $ | 23.45 |  |  |  |  | — |  |  | 1,078,408 |  |  | June 2025
Totals |  | 1,208,874 |  |  |  |  |  |  |  |  | 2,417,748 |  |  |
(1) Includes an adjustment to the outstanding RSU awards under the terms of the 2017 Plan using a conversion ratio of approximately 1.29 as a result of the Nextracker spin-off. (2) Vesting ranges from zero to 200% based on measurement of Flex's total shareholder return against Flex's peer companies for RSU awards granted in fiscal years 2025, 2024 and 2023. Of the 11.7 million unvested RSU awards outstanding under the 2017 Plan as of the fiscal year ended March 31, 2025, approximately 1.6 million unvested RSU awards represents the target amount of grants made to certain key employees whereby vesting is contingent on meeting certain performance conditions summarized as follows:
|  | Target number of awards as of March 31, 2025 (in shares) (1) |  |  |  |  |  | Range of shares that may be issued (2) |  |
|  | Average grant date fair value (per share) |  |  |  |
|  |  |  | Assessment date
Year of grant |  |  |  | Minimum |  | Maximum |
Fiscal 2025 |  | 683,786 |  |  | $ | 31.14 |  |  |  |  | — |  |  | 1,119,404 |  |  | Mar 2028
Fiscal 2024 |  | 386,965 |  |  | $ | 26.67 |  |  |  |  | — |  |  | 773,930 |  |  | Mar 2027
Fiscal 2023 |  | 539,606 |  |  | $ | 16.52 |  |  |  |  | — |  |  | 1,079,212 |  |  | Mar 2026
Totals |  | 1,610,357 |  |  |  |  |  |  |  |  | 2,972,546 |  |  |
(1) Includes an adjustment to the outstanding RSU awards under the terms of the 2017 Plan using a conversion ratio of approximately 1.29 as a result of the Nextracker spin-off. (2) Vesting ranges from zero to 200% based on performance of Company's average adjusted earnings per share growth and for certain awards vesting ranges from zero to 100% based on Company's adjusted operating profit goals.

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