
	FAS		FRS		Corporate & Other		Total
Three-Months Ended December 31, 2025	(In millions)
Net Sales	$	3,818	$	3,240	$	—	$	7,058
Cost of inventory	(2,795)		(2,137)		1		(4,931)
Manufacturing expenses	(695)		(758)		16		(1,437)
Segment selling, general and administrative expenses	(89)		(112)		(29)		(230)
Segment income	$	239	$	233	$	(12)	$	460
Reconciling items:
Intangible amortization							$	15
Stock-based compensation							37
Restructuring and impairment charges (1)							9
Customer related asset recoveries (2)							(2)
Legal and other (3)							12
Interest expenses							58
Interest income							15
Other charges (income), net							25
Equity in earnings (losses) of unconsolidated affiliates							(1)
Income before income taxes							$	320

(1)Certain restructuring charges of $2 million are excluded from the reconciling amount of $9 million as they are included within segment income.

(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.

(3)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, impairments and other costs such as acquisition and portfolio optimization related costs. During the third quarter of fiscal year 2026, costs primarily related to other costs.


	FAS		FRS		Corporate & Other		Total
Nine-Months Ended December 31, 2025	(In millions)
Net Sales	$	11,275	$	9,162	$	—	$	20,437
Cost of inventory	(8,307)		(6,020)		—		(14,327)
Manufacturing expenses	(1,996)		(2,207)		11		(4,192)
Segment selling, general and administrative expenses	(266)		(333)		(55)		(654)
Segment income	$	706	$	602	$	(44)	$	1,264
Reconciling items:
Intangible amortization							$	52
Stock-based compensation							108
Restructuring and impairment charges (1)							83
Customer related asset recoveries (2)							(2)
Legal and other (3)							27
Interest expenses							161
Interest income							38
Other charges (income), net							19
Equity in earnings (losses) of unconsolidated affiliates							(26)
Income before income taxes							$	828

(1)During the nine-month period ended December 31, 2025, the Company recognized a total of $46 million in asset impairments, inventory write-downs and other related charges as a result of a missile strike on its Mukachevo, Ukraine facility on August 21, 2025. Refer to note 1 "Organization of the Company and Basis of Presentation" for further details. Certain restructuring charges of $2 million are excluded from the reconciling amount of $83 million as they are included within segment income.

(3)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, impairments and other costs such as acquisition and portfolio optimization related costs. During fiscal year 2026, legal and other costs primarily related to other costs.


	FAS		FRS		Corporate & Other		Total
Three-Months Ended December 31, 2024	(In millions)
Net Sales	$	3,599	$	2,957	$	—	$	6,556
Cost of inventory	(2,650)		(1,967)		—		(4,617)
Manufacturing expenses	(637)		(685)		(7)		(1,329)
Segment selling, general and administrative expenses	(85)		(107)		(19)		(211)
Segment income	$	227	$	198	$	(26)	$	399
Reconciling items:
Intangible amortization							$	17
Stock-based compensation							33
Restructuring charges							12
Customer related asset recoveries (1)							(2)
Legal and other (2)							5
Interest expenses							57
Interest income							16
Other charges (income), net							5

Income before income taxes							$	288

(1)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-month period ended December 31, 2024, the Company recognized $2 million of customer related asset recoveries.

(2)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, impairments and other costs such as acquisition and portfolio optimization related costs. During the third quarter of fiscal year 2025, the Company accrued for a $5 million asset impairment where losses were considered probable and estimable.


	FAS		FRS		Corporate & Other		Total
Nine-Months Ended December 31, 2024	(In millions)
Net Sales	$	10,570	$	8,845	$	—	$	19,415
Cost of inventory	(7,826)		(5,958)		—		(13,784)
Manufacturing expenses	(1,875)		(2,076)		(21)		(3,972)
Segment selling, general and administrative expenses	(245)		(307)		(44)		(596)
Segment income	$	624	$	504	$	(65)	$	1,063
Reconciling items:
Intangible amortization							$	49
Stock-based compensation							93
Restructuring charges							54
Customer related asset recoveries (1)							(2)
Legal and other (2)							5
Interest expenses							166
Interest income							48
Other charges (income), net							(1)
Equity in earnings (losses) of unconsolidated affiliates							(3)
Income before income taxes							$	744

(1)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 nine-month period ended December 31, 2024, the Company recognized $2 million of customer related asset recoveries.

(2)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, impairments and other costs such as acquisition and portfolio optimization related costs. During the first three quarters of fiscal year 2025, the Company accrued for a $5 million asset impairment where losses were considered probable and estimable.

Total depreciation expense, including amounts allocated to the reportable segments and Corporate and Other for the three and nine-month period ended December 31, 2025 and 2024 are as follows:


	Three-Month Periods Ended				Nine-Month Periods Ended
	December 31, 2025		December 31, 2024		December 31, 2025		December 31, 2024
	(In millions)				(In millions)
Depreciation expense:
Flex Agility Solutions	$	44	$	45	$	138	$	134
Flex Reliability Solutions	67		62		195		188
Corporate and Other	2		3		9		9
Total depreciation expense	$	113	$	110	$	342	$	331