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BALANCE SHEET ITEMS
 6 Months Ended
Sep. 26, 2025
Balance Sheet Related Disclosures [Abstract]  
BALANCE SHEET ITEMS BALANCE SHEET ITEMS 
Inventories 
The components of inventories, net of applicable lower of cost and net realizable value write-downs, were as follows: 
As of September 26, 2025As of March 31, 2025
 (In millions)
Raw materials$4,189 $4,092 
Work-in-progress536 485 
Finished goods545 494 
 $5,270 $5,071 
In addition to the Flex controlled inventory shown above, the Company held inventory controlled by customers of $768 million and $416 million as of September 26, 2025 and March 31, 2025, respectively. This amount is reported in other current assets in the condensed consolidated balance sheets.
Goodwill and Other Intangible Assets
During the six-month period ended September 26, 2025, goodwill increased by $34 million with $8 million from an acquisition completed in the first quarter of fiscal year 2026 and currency impacts of $26 million. See note 12 for further details.
The components of acquired intangible assets are as follows:
 As of September 26, 2025As of March 31, 2025
Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
 (In millions)
Intangible assets:      
Customer-related intangibles$317 $(137)$180 $383 $(186)$197 
Licenses and other intangibles199 (65)134 365 (219)146 
Total$516 $(202)$314 $748 $(405)$343 
The gross carrying amounts of intangible assets are removed when fully amortized.
The estimated future annual amortization expense for intangible assets is as follows:
Fiscal Year Ending March 31,Amount
 (In millions)
2026 (1)$31 
202758 
202844 
202941 
203036 
Thereafter104 
Total amortization expense$314 
(1)Represents estimated amortization for the remaining six-month period of the fiscal year ending March 31, 2026. 
Customer Working Capital Advances
Customer working capital advances were $1.5 billion and $1.6 billion as of September 26, 2025 and March 31, 2025, respectively. The customer working capital advances are not interest-bearing, do not generally have fixed repayment dates and are generally reduced as the underlying working capital is consumed in production or the customer working capital advance agreement is terminated.
Other Non-Current Assets
Other non-current assets include deferred tax assets of $575 million and $577 million as of September 26, 2025 and March 31, 2025, respectively.
Other Current Liabilities
Other current liabilities include customer-related accruals of $304 million and $246 million as of September 26, 2025 and March 31, 2025, respectively.
Supplier Finance Programs
The Company has four supplier finance programs, all of which have substantially similar characteristics, with various financial institutions that act as the paying agent for certain payables of the Company. The Company established these programs through agreements with the financial institutions to enable more efficient payment processing to our suppliers while also providing our suppliers a potential source of liquidity to the extent they choose to sell their receivables to the financial institutions in advance of the due dates. Our suppliers’ participation in the programs is voluntary, the Company is not involved in negotiations of the suppliers’ arrangements with the financial institutions to sell their receivables, and our rights and obligations to our suppliers are not impacted by our suppliers’ decisions to sell amounts under these programs. Under these supplier finance programs, the Company pays the financial institutions the stated amount of confirmed invoices from its participating suppliers on the original maturity dates of the invoices. All payment terms are short-term in nature and are not dependent on whether the suppliers participate in the supplier finance programs or if the suppliers elect to receive early payment from the financial institutions. No guarantees are provided by the Company under the supplier finance programs and the Company incurs no costs related to the programs. The Company has no economic interest in a supplier’s decision to participate in the supplier finance programs.
Obligations under these programs are classified within accounts payable on the condensed consolidated balance sheets, with the associated payments reflected in the operating activities section of the condensed consolidated statement of cash flows. The Company's outstanding obligations confirmed as valid under its supplier finance programs as of September 26, 2025 and March 31, 2025 were $136 million and $119 million, respectively.