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DISCONTINUED OPERATIONS (Tables) | 9 Months Ended
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Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Results From Discontinued Operations | The key components of net income from discontinued operations for the three and nine-month periods ended December 31, 2023 were as follows:
|  | Three-month period ended |  | Nine-month period ended
|  | December 31, 2023 |  | December 31, 2023
|  | (In millions)
Net sales (1) |  | $ | 682 |  |  | $ | 1,664 |
Cost of sales (1) |  | 473 |  |  | 1,198 |
Gross Profit |  | 209 |  |  | 466 |
Selling, general and administrative expenses |  | 59 |  |  | 145 |
Operating income |  | 150 |  |  | 321 |
Interest and other, net |  | (5) |  |  | (1) |
Income before income taxes |  | 155 |  |  | 322 |
Provision for/ (Benefit from) income taxes |  | 51 |  |  | (51) |
Net income from discontinued operations |  | 104 |  |  | 373 |
Net income from discontinued operations attributable to noncontrolling interest (2) |  | 36 |  |  | 239 |
Net income from discontinued operations attributable to Flex Ltd. |  | $ | 68 |  |  | $ | 134 |
(1) Both net sales and cost of sales from discontinued operations includes the effect of intercompany transactions that were eliminated from Flex's condensed consolidated statements of operations of approximately $29 million and $99 million for the three and nine-month periods ended December 31, 2023, respectively. (2) Net income from discontinued operations attributable to noncontrolling interest represented a share of pre-tax income of $76 million and $145 million and of income tax expense of $40 million and $46 million for the three and nine-month periods ended December 31, 2023. As such, pre-tax income attributable to Flex Ltd. from discontinued operations was $79 million and $177 million for the same periods. In addition, during the nine-month period ended December 31, 2023, a $140 million deferred tax asset was recorded, with an offsetting entry to income tax benefit fully attributable to noncontrolling interest in connection with Nextracker's follow-on public offering. Details of cash flows from discontinued operations for the nine-month period ended December 31, 2023 were as follows:
|  |  |  | Nine-month period ended
|  |  |  | December 31, 2023
|  |  | (In millions)
Net cash provided by discontinued operations operating activities (1) |  |  |  | $ | 317 |
Net cash used in discontinued operations investing activities |  |  |  | (4) |
(1) Cash flows from discontinued operations operating activities includes an inflow from intercompany transactions that were eliminated from Flex's consolidated operations of $54 million for the nine-month period ended December 31, 2023.

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