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SEGMENT REPORTING | 9 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
SEGMENT REPORTING | SEGMENT REPORTING The Company reports its financial performance based on two operating and reportable segments, Flex Agility Solutions and Flex Reliability Solutions, and analyzes operating income as the measure of segment profitability. The determination of these segments is based on several factors, including the nature of products and services, the nature of production processes, customer base, delivery channels and similar economic characteristics. An operating segment's performance is evaluated based on its pre-tax operating contribution, or segment income. Segment income is defined as net sales less cost of sales, and segment selling, general and administrative expenses, and does not include intangible amortization, stock-based compensation, restructuring charges, customer related asset impairment (recoveries), legal and other, interest expense, and other charges (income), net. A portion of depreciation is allocated to the respective segments, together with other general corporate research and development and administrative expenses. Selected financial information by segment is in the table below.
| Three-Month Periods Ended |  | Nine-Month Periods Ended
| December 31, 2024 |  | December 31, 2023 |  | December 31, 2024 |  | December 31, 2023
| (In millions)
Net sales: |  |  |  |  |  |  |
Flex Agility Solutions | $ | 3,599 |  |  | $ | 3,465 |  |  | $ | 10,570 |  |  | $ | 10,684 |
Flex Reliability Solutions | 2,957 |  |  | 2,956 |  |  | 8,845 |  |  | 9,562 |
| $ | 6,556 |  |  | $ | 6,421 |  |  | $ | 19,415 |  |  | $ | 20,246 |
Segment income and reconciliation of income from continuing operations before income taxes: |  |  |  |  |  |  |
Flex Agility Solutions | $ | 227 |  |  | $ | 175 |  |  | $ | 624 |  |  | $ | 488 |
Flex Reliability Solutions | 198 |  |  | 159 |  |  | 504 |  |  | 495 |
Corporate and Other | (26) |  |  | (20) |  |  | (65) |  |  | (49) |
Total segment income | 399 |  |  | 314 |  |  | 1,063 |  |  | 934 |
Reconciling items: |  |  |  |  |  |  |
Intangible amortization | 17 |  |  | 17 |  |  | 49 |  |  | 54 |
Stock-based compensation | 33 |  |  | 26 |  |  | 93 |  |  | 86 |
Restructuring charges | 12 |  |  | 73 |  |  | 54 |  |  | 97 |
Legal and other (1) | 5 |  |  | — |  |  | 5 |  |  | 3 |
Customer related asset impairment (recoveries) (2) | (2) |  |  | — |  |  | (2) |  |  | — |
Interest expense | 57 |  |  | 50 |  |  | 166 |  |  | 155 |
Interest income | 16 |  |  | 13 |  |  | 48 |  |  | 44 |
Other charges (income), net | 5 |  |  | 9 |  |  | 2 |  |  | 34 |
Income from continuing operations before income taxes | $ | 288 |  |  | $ | 152 |  |  | $ | 744 |  |  | $ | 549 |
(1)Legal and other consists of costs not directly related to core business results and including matters relating to commercial disputes, government regulatory and compliance, intellectual property, antitrust, tax, employment or shareholder issues, product liability claims and other issues on a global basis as well as acquisition related costs and asset impairment. During the first three quarters of fiscal year 2025 and 2024, the Company accrued for a $5 million asset impairment and $3 million in loss contingencies where losses were considered probable and estimable, respectively. (2)Customer related asset impairments (recoveries) may consist of non-cash impairments of property and equipment to estimated fair value for customers from whom we have disengaged or are in the process of disengaging as well as additional provisions for doubtful accounts receivable for customers that are experiencing financial difficulties and inventory that is considered non-recoverable that is written down to net realizable value. In subsequent periods, the Company may recover a portion of the costs previously incurred related to assets impaired or reduced to net realizable value. During the three and nine-month periods ended December 31, 2024, the Company recognized approximately $2 million of customer related asset recoveries. Corporate and other primarily includes corporate service costs that are not included in the chief operating decision maker's ("CODM") assessment of the performance of each of the identified reportable segments. The Company provides an overall platform of assets and services, which the segments utilize for the benefit of their various customers. The shared assets and services are contained within the Company's global manufacturing and design operations and include manufacturing and design facilities. Most of the underlying manufacturing and design assets are co-mingled in the operating campuses and are compatible to operate across segments and highly interchangeable throughout the platform. Given the highly interchangeable nature of the assets, they are not separately identified by segment nor reported by segment to the Company's CODM.

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- Definition The entire disclosure for reporting segments including data and tables. 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