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DISCONTINUED OPERATIONS (Tables)
 9 Months Ended
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 endedNine-month period ended
December 31, 2023December 31, 2023
(In millions)
Net sales (1)$682 $1,664 
Cost of sales (1)473 1,198 
  Gross Profit209 466 
Selling, general and administrative expenses59 145 
  Operating income150 321 
Interest and other, net(5)(1)
  Income before income taxes155 322 
Provision for/ (Benefit from) income taxes51 (51)
  Net income from discontinued operations104 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.