FLEX LTD., 10-Q filed on 2/6/2026
Quarterly Report
v3.25.4
COVER PAGE - shares
 9 Months Ended
Dec. 31, 2025
Jan. 30, 2026
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Dec. 31, 2025  
Document Transition Report false  
Entity File Number 0-23354  
Entity Registrant Name FLEX LTD.  
Entity Incorporation, State or Country Code U0  
Entity Tax Identification Number 98-1773351  
Entity Address, Address Line One 12515-8 Research Blvd  
Entity Address, Address Line Two Suite 300  
Entity Address, City or Town Austin  
Entity Address, State or Province TX  
Entity Address, Postal Zip Code 78759  
City Area Code 512  
Local Phone Number 425-7929  
Title of 12(b) Security Ordinary Shares, No Par Value  
Trading Symbol FLEX  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   367,673,924
Entity Central Index Key 0000866374  
Amendment Flag false  
Current Fiscal Year End Date --03-31  
Document Fiscal Year Focus 2026  
Document fiscal Period Focus Q3  
v3.25.4
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2025
Mar. 31, 2025
Current assets:    
Cash and cash equivalents $ 3,057 $ 2,289
Accounts receivable, net of allowance of $9 and $7, respectively 3,837 3,671
Contract assets 881 616
Inventories 5,549 5,071
Other current assets 1,828 1,194
Total current assets 15,152 12,841
Property and equipment, net 2,393 2,330
Operating lease right-of-use assets, net 667 562
Goodwill 1,375 1,341
Other intangible assets, net 300 343
Other non-current assets 933 964
Total assets 20,820 18,381
Current liabilities:    
Bank borrowings and current portion of long-term debt 675 1,209
Accounts payable 6,482 5,147
Accrued payroll and benefits 590 560
Deferred revenue and customer working capital advances 1,959 1,957
Other current liabilities 1,150 977
Total current liabilities 10,856 9,850
Long-term debt, net of current portion 3,760 2,483
Operating lease liabilities, non-current 583 456
Other non-current liabilities 500 590
Total liabilities 15,699 13,379
Shareholders’ equity    
Ordinary shares, no par value; 373,173,140 and 383,369,073 issued, and 367,621,500 and 377,817,433 outstanding as of December 31, 2025 and March 31, 2025, respectively 3,511 4,142
Treasury stock at cost; 5,551,640 shares (200) (200)
Accumulated earnings 1,914 1,284
Accumulated other comprehensive loss (104) (224)
Total shareholders’ equity 5,121 5,002
Total liabilities and shareholders' equity $ 20,820 $ 18,381
v3.25.4
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2025
Mar. 31, 2025
Statement of Financial Position [Abstract]    
Accounts receivable, allowance $ 9 $ 7
Ordinary shares, par value (in dollars per share) $ 0 $ 0
Ordinary shares, issued (in shares) 373,173,140 383,369,073
Ordinary shares, outstanding (in shares) 367,621,500 377,817,433
Treasury stock (in shares) 5,551,640 5,551,640
Number of authorized shares not disclosed true  
v3.25.4
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Income Statement [Abstract]        
Net sales $ 7,058 $ 6,556 $ 20,437 $ 19,415
Cost of sales 6,373 5,952 18,541 17,777
Restructuring charges 6 10 31 42
Gross profit 679 594 1,865 1,596
Selling, general and administrative expenses 270 241 763 670
Restructuring and impairment charges 5 2 54 13
Intangible amortization 15 17 52 49
Operating income 389 334 996 864
Interest expense 58 57 161 166
Interest income 15 16 38 48
Other charges (income), net 25 5 19 (1)
Equity in earnings (losses) of unconsolidated affiliates (1) 0 (26) (3)
Income before income taxes 320 288 828 744
Provision for (benefit from) income taxes 81 25 198 128
Net income $ 239 $ 263 $ 630 $ 616
Earnings per share:        
Basic (in dollars per share) $ 0.65 $ 0.68 $ 1.69 $ 1.56
Diluted (in dollars per share) $ 0.64 $ 0.67 $ 1.66 $ 1.54
Weighted-average shares used in computing per share amounts:        
Basic (in shares) 369 387 372 394
Diluted (in shares) 376 394 379 401
v3.25.4
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Statement of Comprehensive Income [Abstract]        
Net income $ 239 $ 263 $ 630 $ 616
Other comprehensive income (loss), net of tax:        
Foreign currency translation adjustments 3 (85) 77 (46)
Unrealized gain (loss) on derivative instruments and other 4 (21) 43 (38)
Comprehensive income $ 246 $ 157 $ 750 $ 532
v3.25.4
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Ordinary Shares
Common Stock Including Additional Paid in Capital
Accumulated Earnings (Deficit)
Unrealized Gain (Loss) on Derivative Instruments and Other
Foreign currency translation adjustments
Total Accumulated Other Comprehensive Gain (Loss)
Beginning balance (in shares) at Mar. 31, 2024   408,000,000          
Beginning balance at Mar. 31, 2024 $ 5,325 $ 5,074   $ 446 $ 4 $ (199) $ (195)
Increase (Decrease) in Shareholders' Equity              
Repurchase of Flex Ltd. ordinary shares at cost (in shares)   (31,000,000)          
Repurchase of Flex Ltd. ordinary shares at cost (958) $ (958)          
Issuance of Flex Ltd. vested shares under restricted share unit awards (in shares)   7,000,000          
Net income 616     616      
Stock-based compensation 93   $ 93        
Total other comprehensive income (loss) (84)       (38) (46) (84)
Ending balance (in shares) at Dec. 31, 2024   384,000,000          
Ending balance at Dec. 31, 2024 4,992 $ 4,209   1,062 (34) (245) (279)
Beginning balance (in shares) at Sep. 27, 2024   390,000,000          
Beginning balance at Sep. 27, 2024 5,003 $ 4,377   799 (13) (160) (173)
Increase (Decrease) in Shareholders' Equity              
Repurchase of Flex Ltd. ordinary shares at cost (in shares)   (6,000,000)          
Repurchase of Flex Ltd. ordinary shares at cost (201) $ (201)          
Net income 263     263      
Stock-based compensation 33   33        
Total other comprehensive income (loss) (106)       (21) (85) (106)
Ending balance (in shares) at Dec. 31, 2024   384,000,000          
Ending balance at Dec. 31, 2024 $ 4,992 $ 4,209   1,062 (34) (245) (279)
Beginning balance (in shares) at Mar. 31, 2025 377,817,433 378,000,000          
Beginning balance at Mar. 31, 2025 $ 5,002 $ 3,942   1,284 (19) (205) (224)
Increase (Decrease) in Shareholders' Equity              
Repurchase of Flex Ltd. ordinary shares at cost (in shares)   (16,000,000)          
Repurchase of Flex Ltd. ordinary shares at cost (744) $ (744)          
Issuance of Flex Ltd. vested shares under restricted share unit awards (in shares)   6,000,000          
Net income 630     630      
Provision for stock warrants 5 $ 5          
Stock-based compensation 108   108        
Total other comprehensive income (loss) $ 120       43 77 120
Ending balance (in shares) at Dec. 31, 2025 367,621,500 368,000,000          
Ending balance at Dec. 31, 2025 $ 5,121 $ 3,311   1,914 24 (128) (104)
Beginning balance (in shares) at Sep. 26, 2025   371,000,000          
Beginning balance at Sep. 26, 2025 5,035 $ 3,471   1,675 20 (131) (111)
Increase (Decrease) in Shareholders' Equity              
Repurchase of Flex Ltd. ordinary shares at cost (in shares)   (3,000,000)          
Repurchase of Flex Ltd. ordinary shares at cost (200) $ (200)          
Net income 239     239      
Provision for stock warrants 3 $ 3          
Stock-based compensation 37   $ 37        
Total other comprehensive income (loss) $ 7       4 3 7
Ending balance (in shares) at Dec. 31, 2025 367,621,500 368,000,000          
Ending balance at Dec. 31, 2025 $ 5,121 $ 3,311   $ 1,914 $ 24 $ (128) $ (104)
v3.25.4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 630 $ 616
Depreciation, amortization and other impairment charges 433 401
Changes in working capital and other, net 209 55
Net cash provided by operating activities 1,272 1,072
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (431) (326)
Proceeds from the disposition of property and equipment 7 11
Acquisition of businesses, net of cash acquired (40) (347)
Proceeds from divestiture of businesses, net of cash held in divested businesses (4) 0
Other investing activities, net (4) 21
Net cash used in investing activities (472) (641)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from bank borrowings and long-term debt 1,251 499
Payments of bank borrowings, long-term debt and other financing liabilities (542) (58)
Payments for repurchases of ordinary shares (744) (958)
Other, net (11) (7)
Net cash used in financing activities (46) (524)
Effect of exchange rates on cash and cash equivalents 14 (48)
Net change in cash, cash equivalents, and restricted cash equivalents 768 (141)
Cash, cash equivalents, and restricted cash equivalents, beginning of period 2,289 2,474
Cash, cash equivalents, and restricted cash equivalents, end of period 3,057 2,333
Reconciliation of cash, cash equivalents, and restricted cash equivalents    
Cash and cash equivalents 3,057 2,313
Restricted cash equivalents included in other current assets 0 20
Total cash, cash equivalents, and restricted cash equivalents 3,057 2,333
Non-cash investing activities:    
Unpaid purchases of property and equipment 133 120
Right-of-use assets obtained in exchange for operating lease liabilities $ 207 $ 80
v3.25.4
ORGANIZATION OF THE COMPANY AND BASIS OF PRESENTATION
 9 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
ORGANIZATION OF THE COMPANY AND BASIS OF PRESENTATION ORGANIZATION OF THE COMPANY AND BASIS OF PRESENTATION
Organization of the Company
Flex Ltd. ("Flex" or the "Company") is the advanced, end-to-end manufacturing partner of choice that helps a diverse customer base design, build, deliver and manage innovative products that improve the world. Through the collective strength of a global workforce across approximately 30 countries with responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets. The Company's full suite of specialized capabilities includes design and engineering, supply chain, manufacturing, post-production and post-sale services, and proprietary products. Flex partners with customers across a diverse set of industries including data center, communications, enterprise, consumer, automotive, industrial, healthcare, and power. As of December 31, 2025, Flex's two operating and reportable segments were as follows:
•Flex Agility Solutions ("FAS"), which is comprised of the following end markets:
◦Communications, Enterprise and Cloud ("CEC"), including data center, edge, and communications infrastructure
◦Lifestyle, including appliances, floorcare, smart living, Heating, Ventilation and Air-Conditioning ("HVAC"), and power tools
◦Consumer Devices, including mobile and high velocity consumer devices
•Flex Reliability Solutions ("FRS"), which is comprised of the following end markets:
◦Industrial, including industrial devices, capital equipment, renewables, critical power, and embedded power
◦Automotive, including compute platforms, power electronics, motion, and interface
◦Health Solutions, including medical devices, medical equipment, and drug delivery
The Company's service offerings include a comprehensive range of value-added design and engineering services that are tailored to the various markets and needs of its customers. Other focused service offerings relate to manufacturing (including enclosures, metals, plastic injection molding, precision plastics, machining, and mechanicals), system integration and assembly and test services, materials procurement, inventory management, logistics and after-sales services (including product repair, warranty services, re-manufacturing and maintenance), supply chain management software solutions and component product offerings (including flexible printed circuit boards, power adapters and chargers).
Basis of Presentation and Principles of Consolidation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP” or “GAAP”) for interim financial information and in accordance with the requirements of Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements, and should be read in conjunction with the Company’s audited consolidated financial statements as of and for the fiscal year ended March 31, 2025 contained in the Company’s Annual Report on Form 10-K. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair statement have been included. Operating results for the three and nine-month periods ended December 31, 2025 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2026. 
The third quarters for fiscal years 2026 and 2025 ended on December 31 of each year and are comprised of 96 and 95 days, respectively. The first three quarters for fiscal years 2026 and 2025 are comprised of 275 days in both periods.
The accompanying unaudited condensed consolidated financial statements include the accounts of Flex and its subsidiaries, after elimination of intercompany accounts and transactions. The Company consolidates subsidiaries and investments in entities in which the Company has a controlling interest.
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Estimates are used in accounting for, among other things: allowances for doubtful accounts; inventory write-downs; valuation allowances for
deferred tax assets; uncertain tax positions; valuation and useful lives of long-lived assets including property, equipment, and intangible assets; valuation of goodwill; valuation of investments in privately held companies; asset impairments; fair values of financial instruments, notes receivable and derivative instruments; restructuring charges; contingencies; warranty provisions; incremental borrowing rates in determining the present value of lease payments; accruals for potential price adjustments arising from customer contracts; fair values of assets obtained and liabilities assumed in business combinations; valuation of warrants, and the fair values of restricted share unit awards granted under the Company's stock-based compensation plans. Due to global economic conditions, including the impact of ongoing trade conflicts and tariffs, and geopolitical conflicts (including the Russian invasion of Ukraine, the Israel-Hamas conflict, and other geopolitical conflicts) there has been and will continue to be uncertainty and disruption in the global economy and financial markets. The Company has made estimates and assumptions taking into consideration certain possible impacts due to the foregoing factors. These estimates may change, as new events occur, and additional information is obtained. Actual results may differ from previously estimated amounts, and such differences may be material to the consolidated financial statements. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the period they occur.
Impact of Missile Strike in Ukraine
During the three and nine-month periods ended December 31, 2025, the Company recognized $5 million and $46 million, respectively, in asset impairments, inventory write-downs and other charges as a result of a missile strike on its Mukachevo, Ukraine facility in Western Ukraine on August 21, 2025. The total $46 million expense includes $23 million of long-lived asset impairments, $13 million of inventory write-downs and $10 million of other charges. The missile strike represents an unusual and infrequent event as hostilities related to the Russian invasion of Ukraine have been primarily focused in Eastern Ukraine. The missile strike caused substantial physical damage and disrupted normal operations at the facility. In response, the Company activated contingency manufacturing plans and transitioned production to alternative facilities. As restoration activities progress in Mukachevo, the Company expects to incur additional immaterial near-term inefficiencies. The total $46 million expense is included in restructuring and impairment charges in the condensed consolidated statements of operations.
Recently Issued Accounting Pronouncements
In December 2023, the FASB issued ASU 2023-09 "Income Taxes (Topic 740): Improvements to Income Tax Disclosures", which expands disclosures in an entity’s income tax rate reconciliation table and income taxes paid both in the U.S. and foreign jurisdictions. The guidance is effective for the Company beginning in the fourth quarter of fiscal year 2026. The Company expects the new guidance will have an immaterial impact on its consolidated financial statements and intends to adopt the guidance prospectively when it becomes effective in the fourth quarter of fiscal year 2026.
In November 2024, the FASB issued ASU 2024-03 "Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses", which requires public entities to disclose specified information about certain costs and expenses. The guidance is effective for the Company beginning in the fourth quarter of fiscal year 2028 and will be applied retrospectively to all prior periods presented on its consolidated financial statements. The Company is currently evaluating the guidance to determine the impact on the Company's disclosures. In January 2025, the FASB issued ASU 2025-01 on the same topic to clarify the amendments for ASU 2024-03 are effective for the Company in the fourth quarter of fiscal year 2028.
In December 2025, the FASB issued ASU 2025-10 "Government Grants (Topic 832)", which establishes comprehensive guidance on the recognition, measurement, presentation, and disclosure of government grants. The Company expects the new guidance will have an immaterial impact on its consolidated financial statements and intends to adopt the guidance prospectively when it becomes effective in the first quarter of fiscal year 2030.
In December 2025, the FASB issued ASU 2025-12 "Codification Improvements", which includes numerous refinements and enhancements, including clarifications on the accounting for the retirement of treasury stock among others. The guidance is effective for the Company beginning in the first quarter of fiscal year 2028. The Company is currently evaluating the guidance to determine the method of adoption and impact on the Company's disclosures.
Recently Adopted Accounting Pronouncements
In July 2025, the FASB issued ASU 2025-05 "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets", which provides for the use of a new practical expedient when estimating expected credit losses for accounts receivable and contract assets arising from transactions accounted for under Topic 606 that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. The guidance is effective for the Company, and has been adopted, beginning in the second quarter of fiscal year 2026.
v3.25.4
BALANCE SHEET ITEMS
 9 Months Ended
Dec. 31, 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 December 31, 2025As of March 31, 2025
 (In millions)
Raw materials$4,447 $4,092 
Work-in-progress462 485 
Finished goods640 494 
 $5,549 $5,071 
In addition to the Flex controlled inventory shown above, the Company held inventory controlled by customers of $924 million and $416 million as of December 31, 2025 and March 31, 2025, respectively. These amounts are reported in other current assets in the condensed consolidated balance sheets.
Goodwill and Other Intangible Assets
During the nine-month period ended December 31, 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 December 31, 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$318 $(147)$171 $383 $(186)$197 
Licenses and other intangibles199 (70)129 365 (219)146 
Total$517 $(217)$300 $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)$15 
202759 
202844 
202941 
203036 
Thereafter105 
Total amortization expense$300 
(1)Represents estimated amortization for the remaining three-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 December 31, 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 $580 million and $577 million as of December 31, 2025 and March 31, 2025, respectively.
Other Current Liabilities
Other current liabilities include customer-related accruals of $374 million and $246 million as of December 31, 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 December 31, 2025 and March 31, 2025 were $129 million and $119 million, respectively.
v3.25.4
REVENUE
 9 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE 
Contract Balances
A contract asset is recognized when the Company has recognized revenue but not issued an invoice for payment. Contract assets are classified separately on the condensed consolidated balance sheets and transferred to receivables when rights to payment become unconditional and invoiced.
A contract liability is recognized when the Company receives payments in advance of the satisfaction of performance. Contract liabilities, identified as deferred revenue, were $456 million and $377 million as of December 31, 2025 and March 31, 2025, respectively, of which $418 million and $347 million, respectively, is included in deferred revenue and customer working capital advances under current liabilities.
Warrant
During the second quarter of fiscal year 2026, the Company issued a warrant (“the Warrant”) to a customer for the purchase of up to an aggregate of 3.9 million ordinary shares of the Company ("Warrant Shares"). The Warrant Shares vest based on qualifying payments (as defined in the Warrant) for the purchase of all products and services over the term of the Warrant and are recognized as a deduction to revenue as qualifying revenues are recognized. Refer to “Note 4 – Share-Based Compensation and Warrants” for further information.
Disaggregation of Revenue
The following table presents the Company’s revenue disaggregated based on timing of transfer, point in time or over time:
Three-Month Periods EndedNine-Month Periods Ended
December 31, 2025December 31, 2024December 31, 2025December 31, 2024
Timing of Transfer(In millions)
FAS
Point in time$2,702 $2,849 $8,471 $8,646 
Over time1,116 750 2,804 1,924 
Total 3,818 3,599 11,275 10,570 
FRS
Point in time2,027 1,960 5,856 6,830 
Over time1,213 997 3,306 2,015 
Total 3,240 2,957 9,162 8,845 
Flex
Point in time4,729 4,809 14,327 15,476 
Over time2,329 1,747 6,110 3,939 
Total $7,058 $6,556 $20,437 $19,415 
v3.25.4
SHARE-BASED COMPENSATION AND WARRANTS
 9 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement, Recognized Amount [Abstract]  
SHARE-BASED COMPENSATION AND WARRANTS SHARE-BASED COMPENSATION AND WARRANTS
Flex historically maintains share-based compensation plans at the corporate level. The Company grants equity compensation awards under its 2017 Equity Incentive Plan (the "2017 Plan").
Share-Based Compensation Expense
The following table summarizes the Company’s share-based compensation expense for the 2017 Plan:
 Three-Month Periods EndedNine-Month Periods Ended
 December 31, 2025December 31, 2024December 31, 2025December 31, 2024
 (In millions)
Cost of sales$9 $9 $26 $25 
Selling, general and administrative expenses28 24 82 68 
Total share-based compensation expense$37 $33 $108 $93 
The 2017 Plan
During the nine-month period ended December 31, 2025, the Company granted 4.3 million restricted share unit ("RSU") awards. Of this amount, 2.0 million are plain-vanilla unvested RSU awards that vest over a period of three years, with no performance or market conditions, with an average grant date price of $43.99 per award. In addition, 1.0 million unvested shares represent the target amount of grants made to certain key employees whereby vesting is contingent on certain performance conditions, with an average grant date price of $45.09 per award. These performance-based RSUs include awards tied to the Company's adjusted earnings per share growth and awards tied to operating profit goals. The number of shares that will ultimately vest will range from zero up to a maximum of approximately 2.4 million based on the level of achievement of these performance conditions. The awards will cliff vest after a period of three years, depending on the specific performance metrics, to the extent such performance conditions have been met. Further, 0.2 million unvested shares represent the target amount of grants made to certain key employees whereby vesting is contingent on certain market conditions. The average grant date fair value of these awards that are contingent on certain market conditions was estimated to be $58.55 per award and was calculated using a Monte Carlo simulation. The number of shares contingent on market conditions that ultimately will vest will range from zero up to a maximum of approximately 0.4 million based on a measurement of the percentile rank of the Company’s total shareholder return over certain specified periods against the Company's peer companies, and will cliff vest after a period of three years, to the extent such market conditions have been met. The remaining balance of 1.1 million represents the number of shares issued upon the vesting of RSU awards above target levels based on the achievement of certain market and performance conditions for awards granted in fiscal year 2023. These awards were issued and immediately vested in accordance with the terms and conditions of the underlying awards.
As of December 31, 2025, 9.5 million unvested RSU awards under the 2017 Plan were outstanding, of which vesting for a targeted amount of 0.8 million shares is contingent on meeting certain market conditions, and vesting for a targeted amount of 1.7 million shares is contingent on meeting certain performance conditions. The number of shares tied to market conditions that will ultimately be issued can range from zero to approximately 1.6 million based on the achievement levels. The number of shares tied to performance conditions that will ultimately be issued can range from zero to approximately 3.9 million based on the achievement levels. During the nine-month period ended December 31, 2025, 2.3 million shares vested in connection with the awards with market and performance conditions granted in fiscal year 2023.
As of December 31, 2025, total unrecognized compensation expense related to unvested RSU awards under the 2017 Plan was $224 million and will be recognized over a weighted-average remaining vesting period of 2.1 years.
Warrant
On August 15, 2025, the Company issued the Warrant to Amazon.com NV Investment Holdings LLC (“Warrantholder”), a wholly-owned subsidiary of Amazon.com, Inc. ("Parent") to purchase up to an aggregate of 3,859,851 Warrant Shares at an exercise price of $51.29 per share, which is the preceding 30 trading days Volume-Weighted Average Price. The Warrant allows for cashless exercise and expires on August 15, 2030; however, if there are unexercised Warrant Shares as of the expiration date, and the Company and Warrantholder maintain a continued commercial relationship, the Company shall negotiate in good faith with Warrantholder to agree to issue to Warrantholder a new two-year warrant as of the expiration date that provides the same exercise price and other terms for vested and unexercised Warrant Shares, that also takes into account the commercial relationship in effect at such time. The Warrant Shares are subject to vesting based on qualifying payments (as defined in the Warrant) for the purchase of all products and services by or on behalf of Parent and its affiliates over the term of the Warrant. Upon the consummation of an acquisition transaction (as defined in the related transaction agreement), subject to a specified condition, the unvested portion of the Warrant will vest in full. So long as the Warrant is unexercised, the Warrant does not entitle Warrantholder to any voting rights or any other shareholder rights. The exercise price and the number of Warrant Shares are subject to customary anti-dilution adjustments. The expense associated with the Warrant Shares will be recorded as a deduction to revenue as the customer purchases products and services over the vesting period.
The estimated fair value of the Warrant was determined as of the issuance date, using the Black-Scholes option pricing model. The following assumptions were used in the model:
As of August 15, 2025
Expected volatility45.8 %
Expected dividend yield— %
Expected life7 years
Risk-free interest rate4.0 %
The calculated fair value of each Warrant Share at the issuance date was $25.47. The Company recorded charges of $3 million and $5 million during the three and nine-month periods ended December 31, 2025, respectively. No Warrant Shares have vested, or were exercised, as of December 31, 2025.
v3.25.4
EARNINGS PER SHARE
 9 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE 
The following table reflects basic weighted-average ordinary shares outstanding and diluted weighted-average ordinary share equivalents used to calculate basic and diluted earnings per share attributable to the shareholders of Flex: 
 Three-Month Periods EndedNine-Month Periods Ended
 December 31, 2025December 31, 2024December 31, 2025December 31, 2024
 (In millions, except per share amounts)
Numerator:
Net income$239 $263 $630 $616 
Denominator:  
Weighted-average ordinary shares outstanding - basic369 387 372 394 
Weighted-average ordinary share equivalents from RSU awards (1)7 7 7 7 
Weighted-average ordinary shares and ordinary share equivalents outstanding - diluted376 394 379 401 
Earnings per share:
Basic$0.65 $0.68 $1.69 $1.56 
Diluted$0.64 $0.67 $1.66 $1.54 
(1)An immaterial amount of RSU awards for both the three and nine-month periods ended December 31, 2025 and December 31, 2024, respectively, were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted-average ordinary share equivalents.
v3.25.4
BANK BORROWINGS AND LONG-TERM DEBT
 9 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
BANK BORROWINGS AND LONG-TERM DEBT BANK BORROWINGS AND LONG-TERM DEBT
Bank borrowings and long-term debt as of December 31, 2025 and March 31, 2025 are as follows:
 Maturity DateAs of December 31, 2025As of March 31, 2025
(In millions)
4.750% Notes (1)
June 2025$— $531 
3.750% Notes (1)
February 2026675 678 
6.000% Notes (1)
January 2028398 398 
4.875% Notes (1)
June 2029654 655 
4.875% Notes (1)
May 2030672 676 
5.250% Notes (1) (2)
January 2032651 499 
5.375% Notes (1) (2)
November 2035598 — 
Delayed Draw Term Loan (3)December 2027500 — 
3.600% HUF Bonds (4)
December 2031305 269 
Debt issuance costs(18)(14)
4,435 3,692 
Current portion, net of debt issuance costs(675)(1,209)
Non-current portion$3,760 $2,483 
(1)The notes are carried at the principal amount of each note less any unamortized discount and unamortized debt issuance costs and inclusive of any unamortized premium. The notes are the Company’s senior unsecured obligations and rank equally with all other existing and future senior unsecured debt obligations.
(2)In November 2025, the Company issued $600 million of 5.375% Notes due November 2035 and $150 million of 5.250% Notes due January 2032.
(3)In March 2025, the Company entered into a $500 million Delayed Draw Term Loan agreement and drew down the funds in June 2025 at the Secured Overnight Financing Rate ("SOFR") plus 100 basis points.
(4)The bonds mature in December 2031 with annual payments equal to 10% of the original principal amount thereof on each of the seventh, eighth, and ninth anniversaries of the bonds, with the remaining 70% due upon maturity.
The weighted-average interest rate for the Company's long-term debt was 4.7% and 4.6% as of December 31, 2025 and March 31, 2025, respectively.
Scheduled repayments of the Company's bank borrowings and long-term debt as of December 31, 2025 are as follows:
Fiscal Year Ending March 31,Amount
(In millions)
2026 (1)$675 
2027— 
2028898 
202930 
2030685 
Thereafter2,165 
Total$4,453 
(1)Represents estimated repayments for the remaining fiscal three-month period ending March 31, 2026. On February 2, 2026, the Company repaid the 3.750% Notes due February 2026.
Notes due January 2032 and November 2035
In November 2025, the Company issued $600 million of 5.375% Notes ("2035 Notes") due November 2035 at 99.732% of face value and as a further issuance of the existing Notes due January 2032, the Company issued under the same terms an additional $150 million of 5.250% Notes ("additional 2032 Notes") due January 2032 at 101.561% of face value. Interest on the 2035 Notes is payable on May 13 and November 13 of each year, beginning on May 13, 2026, until maturity on November 13, 2035. Interest on the additional 2032 Notes is payable on January 15 and July 15 of each year, beginning on January 15, 2026, until maturity on January 15, 2032. Immediately after the issuance of the additional 2032 Notes, the Company had $650 million aggregate principal amount of 5.250% Notes due 2032 outstanding. The Company received proceeds in aggregate of $746 million, net of discount, certain issuance costs, and prepaid interest and inclusive of premium for the issuances in November 2025. The Company incurred and capitalized $7 million of costs in conjunction with the Note issuances in November 2025 as a direct reduction to the carrying amount of the Notes presented on the balance sheet. Proceeds from issuances in November 2025 may be used for general corporate purposes, including repaying, redeeming or repurchasing outstanding debt including repayment or redemption of the 3.750% Notes due February 2026, and for working capital, capital expenditures and acquisitions. The Notes are senior unsecured obligations of the Company and rank equally with all of the Company's other existing and future senior and unsecured debt obligations.
As of December 31, 2025, the Company was in compliance with all covenants in the indentures governing the Notes.
The 2030 Credit Facility
In July 2025, the Company entered into a new $2.75 billion credit facility (“2030 Credit Facility”) which matures in July 2030 and consists of a $2.75 billion revolving credit facility with a sub-limit of $400 million available for swing line loans and a sub-limit of $200 million available for the issuance of letters of credit. The 2030 Credit Facility replaced the previous $2.5 billion credit facility, which was due to mature in July 2027. Borrowings under the 2030 Credit Facility bear interest at the Company’s option at various market based rates, adjusted for the Company’s credit rating, or at the SOFR or similar non-reporting currency benchmarks based on the underlying borrowing currency, adjusted for the Company’s credit rating. The Company is required to pay a quarterly commitment fee on the unutilized portion of the 2030 Credit Facility ranging from 0.100% to 0.275% per annum, based on the Company’s credit ratings. The Company is also required to pay letter of credit usage fees ranging from 1.00% to 1.750% per annum, based on the Company’s credit ratings, on the daily average amount of outstanding letters of credit and a fronting fee of 0.125% per annum on the undrawn and unexpired amount of each letter of credit.
Term Loan due December 2027
In March 2025, the Company entered into a $500 million delayed draw term loan agreement. Borrowings under the delayed draw term loan may be used for working capital, capital expenditures, refinancing of current debt, and other general purposes. All borrowings on the delayed draw term loan will come due on December 31, 2027. Interest is based on a Term SOFR-based formula plus a margin of 100 basis points. The Company had $500 million in borrowings outstanding under the loan agreement as of December 31, 2025.
v3.25.4
INTEREST EXPENSE AND INTEREST INCOME
 9 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
INTEREST EXPENSE AND INTEREST INCOME INTEREST EXPENSE AND INTEREST INCOME
Interest expense and interest income for the three and nine-month periods ended December 31, 2025 and 2024 are composed of the following:
 Three-Month Periods EndedNine-Month Periods Ended
 December 31, 2025December 31, 2024December 31, 2025December 31, 2024
 (In millions)
Interest expenses on debt obligations$54 $50 $146 $139 
AR sale program related expenses4 7 15 27 
Interest income(15)(16)(38)(48)
v3.25.4
FINANCIAL INSTRUMENTS
 9 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedges, Assets [Abstract]  
FINANCIAL INSTRUMENTS FINANCIAL INSTRUMENTS
Foreign Currency Contracts
The Company enters into short-term and long-term foreign currency derivative contracts, including forward, swap, and options contracts, to hedge only those currency exposures associated with certain assets and liabilities, primarily accounts receivable, accounts payable, debt, and cash flows denominated in non-functional currencies. Gains and losses on the Company's derivative contracts are designed to offset losses and gains on the assets, liabilities and transactions hedged, and accordingly, generally do not subject the Company to risk of significant accounting losses. The Company hedges committed exposures and does not engage in speculative transactions. The credit risk of these derivative contracts is minimized since the contracts are with large financial institutions and, accordingly, fair value adjustments related to the credit risk of the counterparty financial institutions were not material.
As of December 31, 2025, the aggregate notional amount of the Company’s outstanding foreign currency derivative contracts was $7.6 billion as summarized below: 
 Notional Contract Value in USD
CurrencyBuySell
 (In millions)
Cash Flow Hedges
p
MXN$548 $— 
HUF449 — 
CNY280 — 
Other507 12 
 1,784 12 
Other Foreign Currency Contracts
CNY713 298 
EUR658 500 
MXN470 363 
MYR276 130 
JPY15 286 
BRL— 283 
Other1,000 775 
 3,132 2,635 
Total Notional Contract Value in USD$4,916 $2,647 
As of December 31, 2025, the fair value of the Company’s short-term foreign currency contracts was included in other current assets or other current liabilities, as applicable, in the condensed consolidated balance sheets. Certain of these contracts are designed to economically hedge the Company’s exposure to monetary assets and liabilities denominated in a non-functional currency and are not accounted for as hedges under the accounting standards. Accordingly, changes in the fair value of these instruments are recognized in earnings during the period of change as a component of other charges (income), net in the condensed consolidated statements of operations. The Company also has included net deferred gains and losses in accumulated other comprehensive loss, a component of shareholders’ equity in the condensed consolidated balance sheets, relating to changes in fair value of its foreign currency contracts that are accounted for as cash flow hedges. Deferred gains were $34 million as of December 31, 2025 and are expected to be recognized primarily as a component of cost of sales in the condensed
consolidated statements of operations over the next twelve-month period, except for gains attributable to changes in fair value of the USD HUF cross currency swaps, which are discussed below.
The Company entered into USD HUF cross currency swaps in December 2021 to hedge the foreign currency risk on the HUF bonds due December 2031, and the fair value of the cross currency swaps was included in other current assets and other non-current liabilities as of December 31, 2025 and March 31, 2025, respectively. The changes in fair value of the USD HUF cross currency swaps are reported in accumulated other comprehensive loss. In addition, corresponding amounts are reclassified out of accumulated other comprehensive loss to other charges (income), net to offset the remeasurement of the underlying HUF bond principal, which also impacts the same line.
The following table presents the fair value of the Company’s derivative instruments utilized for foreign currency risk management purposes at December 31, 2025 and March 31, 2025:
 Fair Values of Derivative Instruments
 Asset DerivativesLiability Derivatives
  Fair Value Fair Value
 Balance Sheet
Location		December 31,
2025		March 31,
2025		Balance Sheet
Location		December 31,
2025		March 31,
2025
 (In millions)
Derivatives designated as hedging instruments      
Foreign currency contractsOther current assets$61 $13 Other current liabilities$(4)$(18)
Foreign currency contractsOther non-current assets— — Other non-current liabilities(15)(46)
Derivatives not designated as hedging instruments      
Foreign currency contractsOther current assets$21 $21 Other current liabilities$(10)$(15)
The Company has financial instruments subject to master netting arrangements, which provide for the net settlement of all contracts with certain counterparties. The Company does not offset fair value amounts for assets and liabilities recognized for derivative instruments under these arrangements. As such, the asset and liability balances presented in the table above reflect the gross amounts of derivatives in the condensed consolidated balance sheets. The impact of netting derivative assets and liabilities is not material to the Company’s financial position for any of the periods presented.
v3.25.4
ACCUMULATED OTHER COMPREHENSIVE LOSS
 9 Months Ended
Dec. 31, 2025
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE LOSS ACCUMULATED OTHER COMPREHENSIVE LOSS 
The changes in accumulated other comprehensive loss by component, net of tax, are as follows: 
Three-Month Periods Ended
December 31, 2025December 31, 2024
 Unrealized gain
(loss) on derivative
instruments and
other		Foreign currency
translation
adjustments		TotalUnrealized gain
(loss) on derivative
instruments and
other		Foreign currency
translation
adjustments		Total
(In millions)
Beginning balance$20 $(131)$(111)$(13)$(160)$(173)
Other comprehensive gain (loss) before reclassifications31 3 34 (65)(85)(150)
Net (gain) loss reclassified from accumulated other comprehensive loss(27)— (27)44 — 44 
Net current-period other comprehensive gain (loss)4 3 7 (21)(85)(106)
Ending balance$24 $(128)$(104)$(34)$(245)$(279)
Nine-Month Periods Ended
December 31, 2025December 31, 2024
 Unrealized gain
(loss) on derivative
instruments and
other		Foreign currency
translation
adjustments		TotalUnrealized gain
(loss) on derivative
instruments and
other		Foreign currency
translation
adjustments		Total
(In millions)
Beginning balance$(19)$(205)$(224)$4 $(199)$(195)
Other comprehensive gain (loss) before reclassifications112 77 189 (87)(46)(133)
Net (gain) loss reclassified from accumulated other comprehensive loss(69)— (69)49 — 49 
Net current-period other comprehensive gain (loss)43 77 120 (38)(46)(84)
Ending balance$24 $(128)$(104)$(34)$(245)$(279)
Substantially all unrealized gains and losses relating to derivative instruments and other, reclassified from accumulated other comprehensive loss for the three and nine-month periods ended December 31, 2025 were reclassified out of accumulated other comprehensive loss to other charges (income), net and cost of sales in the condensed consolidated statements of operations, which primarily relate to the Company’s foreign currency contracts accounted for as cash flow hedges. The tax impacts on the changes in accumulated other comprehensive loss for the three-month periods ended December 31, 2025 and 2024 were $(1) million and $5 million, respectively. The tax impacts on the changes in accumulated other comprehensive loss for the nine-month periods ended December 31, 2025 and 2024 were $(14) million and $16 million, respectively.
v3.25.4
TRADE RECEIVABLES SALES PROGRAMS
 9 Months Ended
Dec. 31, 2025
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
TRADE RECEIVABLES SALES PROGRAMS TRADE RECEIVABLES SALES PROGRAMSThe Company sells accounts receivables to certain third-party banking institutions under factoring programs. The outstanding balance of receivables sold and not yet collected on accounts where the Company has continuing involvement was $0.6 billion and $0.7 billion as of December 31, 2025 and March 31, 2025. For the nine-month periods ended December 31, 2025 and 2024, total accounts receivable sold to certain third-party banking institutions was $2.3 billion and $3.0 billion, respectively. The receivables that were sold were removed from the condensed consolidated balance sheets and the cash received was included as cash provided by operating activities in the condensed consolidated statements of cash flows.
v3.25.4
FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES
 9 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES 
Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact, and it considers assumptions that market participants would use when pricing the asset or liability. The accounting guidance for fair value establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is as follows: 
Level 1 - Applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.
Level 2 - Applies to assets or liabilities for which there are inputs other than quoted prices included within level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets) such as cash and cash equivalents and money market funds; or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. 
The Company values foreign exchange forward contracts using level 2 observable inputs which primarily consist of an income approach based on the present value of the forward rate less the contract rate multiplied by the notional amount. 
The Company’s cash equivalents include bank time deposits and money market funds, which are valued using level 2 inputs, such as interest rates and maturity periods. Due to their short-term nature, their carrying amount approximates fair value. 
Level 3 - Applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. 
The Company has accrued for contingent consideration related to an acquisition in fiscal year 2025, classified as a level 3 measurement in the fair value hierarchy due to significant unobservable inputs. Fair value is determined using internal cash flow models that incorporate unobservable inputs, including the probability of achieving performance milestones. As of December 31, 2025 and March 31, 2025, the balance of contingent consideration was $2 million and $5 million, respectively.
The significant inputs include the Company's probability assessments of expected future revenue during the earn-out periods, associated volatility, and a discount rate reflecting uncertainties in the obligation consistent with the terms of the purchase agreement. Significant changes in expected revenues or in the discount rate and volatility assumptions used would impact fair value estimates. The interrelationship between these inputs is not considered significant.
During the nine-month periods ended December 31, 2025 and 2024, there were no other additions to the accrual, payments, fair value adjustments, or unrealized gains or losses included in earnings.
The Company has deferred compensation plans for its officers and certain other employees. Amounts deferred under the plans are invested in hypothetical investments selected by the participant or the participant's investment manager. The Company's deferred compensation plan assets are included in other non-current assets on the consolidated balance sheets and include money market funds, mutual funds, corporate and government bonds and certain convertible securities that are valued using prices obtained from various pricing sources. These sources price these investments using certain market indices and the performance of these investments in relation to these indices. As a result, the Company has classified these investments as either level 1 or level 2, dependent on the valuation inputs, within the fair value hierarchy. 
Financial Instruments Measured at Fair Value on a Recurring Basis 
The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2025 and March 31, 2025: 
 Fair Value Measurements as of December 31, 2025
 Level 1Level 2Level 3Total
 (In millions)
Assets:    
Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet)$— $2,254 $— $2,254 
Foreign currency contracts (Note 8)— 82 — 82 
Deferred compensation plan assets:   0
Mutual funds, money market accounts and equity securities35 14 — 49 
Liabilities:   
Foreign currency contracts (Note 8)$— $(29)$— $(29)
Contingent consideration in connection with business acquisitions— — (2)(2)
 Fair Value Measurements as of March 31, 2025
 Level 1Level 2Level 3Total
 (In millions)
Assets:    
Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet)$— $1,535 $— $1,535 
Foreign currency contracts (Note 8)— 34 — 34 
Deferred compensation plan assets:   0
Mutual funds, money market accounts and equity securities— 43 — 43 
Liabilities:   0
Foreign currency contracts (Note 8)$— $(79)$— $(79)
Contingent consideration in connection with business acquisitions— — (5)(5)
Other financial instruments 
The following table presents the Company’s major debts not carried at fair value as of December 31, 2025 and March 31, 2025:  
 As of December 31, 2025As of March 31, 2025
 Carrying
Amount		Fair
Value		Carrying
Amount		Fair
Value		Fair Value
Hierarchy
 (In millions)
4.750% Notes due June 2025
$— $— $531 $531 Level 1
3.750% Notes due February 2026
675 674 678 672 Level 1
6.000% Notes due January 2028
398 411 398 409 Level 1
4.875% Notes due June 2029
654 665 655 651 Level 1
4.875% Notes due May 2030
672 683 676 669 Level 1
5.250% Notes due January 2032
651 666 499 497 Level 1
5.375% Notes due November 2035
598 600 — — Level 1
Delayed Draw Term Loan due December 2027500 500 — — Level 1
3.600% HUF Bonds due December 2031
305 244 269 215 Level 2
The Notes due June 2025, February 2026, January 2028, June 2029, May 2030, January 2032, and November 2035 are valued based on broker trading prices in active markets. The Delayed Draw Term Loan due December 2027 bears interest at variable interest rates; therefore, as of December 31, 2025, the carrying amount approximates fair value. HUF Bonds are valued based on the broker trading prices in an inactive market.
v3.25.4
BUSINESS ACQUISITIONS
 9 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
BUSINESS ACQUISITIONS BUSINESS ACQUISITIONS
In the first quarter of fiscal year 2026, the Company completed the acquisition of a manufacturing business in Bielsko Biała, Poland, for total purchase consideration of $35 million. The site is included in the FRS segment. The results of the acquired business are included in the Company’s condensed consolidated financial statements from the acquisition date. The allocation of the purchase price to the tangible and identifiable intangible assets acquired and liabilities assumed is based on their estimated fair values as of the date of acquisition. Additional information, which existed as of the acquisition date, may become known to the Company during the remainder of the measurement period, a period not to exceed 12 months from the date of the acquisition. Changes to amounts recorded as assets and liabilities may result in a corresponding adjustment to goodwill during the measurement period.
The following represents the Company's initial allocation of the total purchase price to the acquired assets and liabilities of the acquired business (in millions):
Current Assets:
Inventory$15 
Unbilled Accounts Receivable9 
Accounts Receivable1 
        Total current assets25 
Operating lease right-of-use assets, net28 
Property and equipment4 
Intangible assets (1)2 
Goodwill8 
        Total assets$67 
Current Liabilities:
Accrued payroll$4 
Operating lease liabilities2 
        Total current liabilities6 
Operating lease liabilities, non-current26 
        Total liabilities32 
          Total aggregate purchase price$35 
(1)Intangible assets are comprised of customer related intangible assets and acquired technology, both of which will be amortized over a weighted-average estimated useful life of 5 years.
v3.25.4
COMMITMENTS AND CONTINGENCIES
 9 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES 
Litigation and other legal matters
In connection with the matters described below, the Company has accrued for loss contingencies where it believes that losses are probable and estimable. Although it is reasonably possible that actual losses could be in excess of the Company’s accrual, the Company is unable to estimate a reasonably possible loss or range of loss in excess of its accrual, due to various reasons, including, among others, that: (i) the proceedings are in early stages or no claims have been asserted, (ii) specific damages have not been sought in all of these matters, (iii) damages, if asserted, are considered unsupported and/or exaggerated, (iv) there is uncertainty as to the outcome of pending appeals, motions, or settlements, (v) there are significant factual issues to be resolved, and/or (vi) there are novel legal issues or unsettled legal theories presented. Any such excess loss could have a material effect on the Company’s results of operations or cash flows for a particular period or on the Company’s financial condition.
One of the Company's Brazilian subsidiaries received six assessments for certain sales and import taxes. Four of the assessments have been successfully definitively defeated. The Company was unsuccessful at the administrative level in two of the remaining assessments and filed annulment actions in federal court in Brasilia, Brazil. The first annulment action was filed on March 23, 2020; the updated value of that assessment inclusive of interest and penalties is 37 million Brazilian reals (approximately USD $7 million). The Brazilian court ruled in favor of the Company on the first annulment action on March 7, 2025 and the assessment obligation has been canceled, although it remains subject to appeal. The second annulment action was filed on September 19, 2023; the updated value of that assessment inclusive of interest and penalties is 60 million Brazilian reals (approximately USD $11 million). The Company is still awaiting a resolution of the second annulment action. The Company believes that it has meritorious defenses to these assessments and will continue to vigorously oppose them, as well as any future assessments. The Company does not expect final judicial determination on the remaining assessments and annulment actions in the near future.
A foreign Tax Authority (“Tax Authority”) had assessed a cumulative total of approximately $167 million in taxes owed for multiple Flex legal entities within its jurisdiction for various fiscal years ranging from fiscal year 2010 through fiscal year 2020. The assessed amounts related to the denial of certain deductible intercompany payments and taxability of income earned outside such jurisdiction. The Company disagreed with the Tax Authority’s assessments and was actively contesting the assessments through the administrative and judicial processes. During the three-month period ended December 31, 2025, the Company and the Tax Authority agreed to a $50 million settlement covering all open fiscal years and all assessed amounts. The Company had previously expensed $31 million and paid $30 million to the Tax Authority in prior fiscal years and agreed to make an
additional $20 million cash payment to the Tax Authority subsequent to the execution of a definitive settlement agreement, which resulted in a charge to income tax expense of $19 million in the third quarter ended December 31, 2025. The definitive settlement agreement was executed on February 3, 2026 and the $20 million cash payment is expected to occur in the fourth quarter of fiscal year ending March 31, 2026.
In addition to the matters discussed above, from time to time, the Company is subject to legal proceedings, claims, and litigation arising in the ordinary course of business. The Company defends itself vigorously against any such claims. Although the outcome of these matters is currently not determinable, management expects that any losses that are probable or reasonably possible of being incurred as a result of these matters, which are in excess of amounts already accrued in the Company’s consolidated balance sheets, would not be material to the financial statements as a whole.
v3.25.4
SHARE REPURCHASES
 9 Months Ended
Dec. 31, 2025
Treasury Stock, Number of Shares and Restriction Disclosures [Abstract]  
SHARE REPURCHASES SHARE REPURCHASES 
During the three and nine-month period ended December 31, 2025, the Company repurchased 3.3 million and 16.1 million shares at aggregate purchase prices of $200 million and $744 million, respectively, and retired all of these shares.
Under the Company’s current share repurchase program, the Board of Directors authorized repurchases of its outstanding ordinary shares for up to $1.7 billion in accordance with the share repurchase mandate approved by the Company’s shareholders at the most recent Annual General Meeting held on August 6, 2025. As of December 31, 2025, shares in the aggregate amount of $1.3 billion were available to be repurchased under the current plan.
v3.25.4
SEGMENT REPORTING
 9 Months Ended
Dec. 31, 2025
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 amortization of intangibles, stock-based compensation, certain restructuring and impairment charges, customer related asset impairment, legal and other, interest expense, interest income, other charges (income), net, and equity in earnings of unconsolidated affiliates. A portion of depreciation is allocated to the respective segments, together with other general corporate, research and development and administrative expenses.
The Company's Chief Executive Officer is our Chief Operating Decision Maker ("CODM") who uses segment income in evaluating how we allocate resources, assess performance and make strategic and operational decisions.
Selected financial information by segment for the three and nine-month period ended December 31, 2025 and 2024 are in the tables below:
FASFRSCorporate & OtherTotal
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 compensation37 
Restructuring and impairment charges (1)9 
Customer related asset recoveries (2)(2)
Legal and other (3)12 
Interest expenses58 
Interest income15 
Other charges (income), net25 
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.
FASFRSCorporate & OtherTotal
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 compensation108 
Restructuring and impairment charges (1)83 
Customer related asset recoveries (2)(2)
Legal and other (3)27 
Interest expenses161 
Interest income38 
Other charges (income), net19 
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.
(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 fiscal year 2026, legal and other costs primarily related to other costs.
FASFRSCorporate & OtherTotal
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 compensation33 
Restructuring charges12 
Customer related asset recoveries (1)(2)
Legal and other (2)5 
Interest expenses57 
Interest income16 
Other charges (income), net5 
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.
FASFRSCorporate & OtherTotal
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 compensation93 
Restructuring charges54 
Customer related asset recoveries (1)(2)
Legal and other (2)5 
Interest expenses166 
Interest income48 
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.
Corporate and Other primarily includes corporate service costs that are not included in the CODM's 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.
Property and equipment on a segment basis is not separately identified and is not internally reported by segment to the Company's CODM as described above.
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 EndedNine-Month Periods Ended
December 31, 2025December 31, 2024December 31, 2025December 31, 2024
(In millions)(In millions)
Depreciation expense:
   Flex Agility Solutions$44 $45 $138 $134 
   Flex Reliability Solutions67 62 195 188 
   Corporate and Other2 3 9 9 
        Total depreciation expense$113 $110 $342 $331 
v3.25.4
RESTRUCTURING CHARGES
 9 Months Ended
Dec. 31, 2025
Restructuring Charges [Abstract]  
RESTRUCTURING CHARGES RESTRUCTURING CHARGES
The Company continued to improve operational efficiencies through targeted restructuring activities during the third quarter of fiscal year 2026. During the three and nine-month periods ended December 31, 2025, the Company recognized $6 million and $39 million of restructuring charges, respectively, most of which related to employee severance. Certain restructuring charges of $2 million are included in segment income.
The following table summarizes the provisions, respective payments, and remaining accrued balance for charges incurred as of December 31, 2025:
SeveranceLong-Lived
Asset
Impairment		Other
Exit Costs		Total
(In millions)
Balance as of March 31, 2025
$51 $— $— $51 
Provision for net charges incurred
26 9 4 39 
Cash payments
(47)— (4)(51)
Non-cash reductions
— (9)— (9)
Other adjustments— — 1 1 
Balance as of December 31, 2025
30 — 1 31 
Less: Current portion (classified as other current liabilities)30 — 1 31 
Accrued restructuring costs, net of current portion (classified as other non-current liabilities)$— $— $— $— 
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Hooi Tan [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On December 8, 2025, Hooi Tan, Chief Operating Officer, adopted a trading plan that provides for the sale of up to 70,000 ordinary shares of the Company. The plan will terminate on December 10, 2026, subject to early termination for certain specified events set forth in the plan.
Name Hooi Tan
Title Chief Operating Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date December 8, 2025
Expiration Date December 10, 2026
Arrangement Duration 367 days
Aggregate Available 70,000
v3.25.4
ORGANIZATION OF THE COMPANY AND BASIS OF PRESENTATION (Policies)
 9 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation and Principles of Consolidation
Basis of Presentation and Principles of Consolidation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP” or “GAAP”) for interim financial information and in accordance with the requirements of Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements, and should be read in conjunction with the Company’s audited consolidated financial statements as of and for the fiscal year ended March 31, 2025 contained in the Company’s Annual Report on Form 10-K. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair statement have been included. Operating results for the three and nine-month periods ended December 31, 2025 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2026.
Fiscal Period
The third quarters for fiscal years 2026 and 2025 ended on December 31 of each year and are comprised of 96 and 95 days, respectively. The first three quarters for fiscal years 2026 and 2025 are comprised of 275 days in both periods.
Basis of Presentation and Principles of Consolidation
The accompanying unaudited condensed consolidated financial statements include the accounts of Flex and its subsidiaries, after elimination of intercompany accounts and transactions. The Company consolidates subsidiaries and investments in entities in which the Company has a controlling interest.
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Estimates are used in accounting for, among other things: allowances for doubtful accounts; inventory write-downs; valuation allowances for
deferred tax assets; uncertain tax positions; valuation and useful lives of long-lived assets including property, equipment, and intangible assets; valuation of goodwill; valuation of investments in privately held companies; asset impairments; fair values of financial instruments, notes receivable and derivative instruments; restructuring charges; contingencies; warranty provisions; incremental borrowing rates in determining the present value of lease payments; accruals for potential price adjustments arising from customer contracts; fair values of assets obtained and liabilities assumed in business combinations; valuation of warrants, and the fair values of restricted share unit awards granted under the Company's stock-based compensation plans. Due to global economic conditions, including the impact of ongoing trade conflicts and tariffs, and geopolitical conflicts (including the Russian invasion of Ukraine, the Israel-Hamas conflict, and other geopolitical conflicts) there has been and will continue to be uncertainty and disruption in the global economy and financial markets. The Company has made estimates and assumptions taking into consideration certain possible impacts due to the foregoing factors. These estimates may change, as new events occur, and additional information is obtained. Actual results may differ from previously estimated amounts, and such differences may be material to the consolidated financial statements. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the period they occur.
Recently Issued and Adopted Accounting Pronouncements
Recently Issued Accounting Pronouncements
In December 2023, the FASB issued ASU 2023-09 "Income Taxes (Topic 740): Improvements to Income Tax Disclosures", which expands disclosures in an entity’s income tax rate reconciliation table and income taxes paid both in the U.S. and foreign jurisdictions. The guidance is effective for the Company beginning in the fourth quarter of fiscal year 2026. The Company expects the new guidance will have an immaterial impact on its consolidated financial statements and intends to adopt the guidance prospectively when it becomes effective in the fourth quarter of fiscal year 2026.
In November 2024, the FASB issued ASU 2024-03 "Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses", which requires public entities to disclose specified information about certain costs and expenses. The guidance is effective for the Company beginning in the fourth quarter of fiscal year 2028 and will be applied retrospectively to all prior periods presented on its consolidated financial statements. The Company is currently evaluating the guidance to determine the impact on the Company's disclosures. In January 2025, the FASB issued ASU 2025-01 on the same topic to clarify the amendments for ASU 2024-03 are effective for the Company in the fourth quarter of fiscal year 2028.
In December 2025, the FASB issued ASU 2025-10 "Government Grants (Topic 832)", which establishes comprehensive guidance on the recognition, measurement, presentation, and disclosure of government grants. The Company expects the new guidance will have an immaterial impact on its consolidated financial statements and intends to adopt the guidance prospectively when it becomes effective in the first quarter of fiscal year 2030.
In December 2025, the FASB issued ASU 2025-12 "Codification Improvements", which includes numerous refinements and enhancements, including clarifications on the accounting for the retirement of treasury stock among others. The guidance is effective for the Company beginning in the first quarter of fiscal year 2028. The Company is currently evaluating the guidance to determine the method of adoption and impact on the Company's disclosures.
Recently Adopted Accounting Pronouncements
In July 2025, the FASB issued ASU 2025-05 "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets", which provides for the use of a new practical expedient when estimating expected credit losses for accounts receivable and contract assets arising from transactions accounted for under Topic 606 that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. The guidance is effective for the Company, and has been adopted, beginning in the second quarter of fiscal year 2026.
Supplier Finance Programs
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.
Fair Value Measurement of Assets and Liabilities FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES 
Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact, and it considers assumptions that market participants would use when pricing the asset or liability. The accounting guidance for fair value establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is as follows: 
Level 1 - Applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.
Level 2 - Applies to assets or liabilities for which there are inputs other than quoted prices included within level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets) such as cash and cash equivalents and money market funds; or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. 
The Company values foreign exchange forward contracts using level 2 observable inputs which primarily consist of an income approach based on the present value of the forward rate less the contract rate multiplied by the notional amount. 
The Company’s cash equivalents include bank time deposits and money market funds, which are valued using level 2 inputs, such as interest rates and maturity periods. Due to their short-term nature, their carrying amount approximates fair value. 
Level 3 - Applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.
v3.25.4
BALANCE SHEET ITEMS (Tables)
 9 Months Ended
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
Schedule of Components of Inventories
The components of inventories, net of applicable lower of cost and net realizable value write-downs, were as follows: 
As of December 31, 2025As of March 31, 2025
 (In millions)
Raw materials$4,447 $4,092 
Work-in-progress462 485 
Finished goods640 494 
 $5,549 $5,071 
Schedule of Components of Acquired Intangible Assets
The components of acquired intangible assets are as follows:
 As of December 31, 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$318 $(147)$171 $383 $(186)$197 
Licenses and other intangibles199 (70)129 365 (219)146 
Total$517 $(217)$300 $748 $(405)$343 
Schedule of Estimated Future Annual Amortization Expense For Intangible Assets
The estimated future annual amortization expense for intangible assets is as follows:
Fiscal Year Ending March 31,Amount
 (In millions)
2026 (1)$15 
202759 
202844 
202941 
203036 
Thereafter105 
Total amortization expense$300 
(1)Represents estimated amortization for the remaining three-month period of the fiscal year ending March 31, 2026.
v3.25.4
REVENUE (Tables)
 9 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table presents the Company’s revenue disaggregated based on timing of transfer, point in time or over time:
Three-Month Periods EndedNine-Month Periods Ended
December 31, 2025December 31, 2024December 31, 2025December 31, 2024
Timing of Transfer(In millions)
FAS
Point in time$2,702 $2,849 $8,471 $8,646 
Over time1,116 750 2,804 1,924 
Total 3,818 3,599 11,275 10,570 
FRS
Point in time2,027 1,960 5,856 6,830 
Over time1,213 997 3,306 2,015 
Total 3,240 2,957 9,162 8,845 
Flex
Point in time4,729 4,809 14,327 15,476 
Over time2,329 1,747 6,110 3,939 
Total $7,058 $6,556 $20,437 $19,415 
v3.25.4
SHARE-BASED COMPENSATION AND WARRANTS (Tables)
 9 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement, Recognized Amount [Abstract]  
Schedule of Share-based Compensation Expense
The following table summarizes the Company’s share-based compensation expense for the 2017 Plan:
 Three-Month Periods EndedNine-Month Periods Ended
 December 31, 2025December 31, 2024December 31, 2025December 31, 2024
 (In millions)
Cost of sales$9 $9 $26 $25 
Selling, general and administrative expenses28 24 82 68 
Total share-based compensation expense$37 $33 $108 $93 
Schedule of Warrants Valuation Assumptions
The estimated fair value of the Warrant was determined as of the issuance date, using the Black-Scholes option pricing model. The following assumptions were used in the model:
As of August 15, 2025
Expected volatility45.8 %
Expected dividend yield— %
Expected life7 years
Risk-free interest rate4.0 %
v3.25.4
EARNINGS PER SHARE (Tables)
 9 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Basic Weighted-average Ordinary Shares Outstanding and Diluted Weighted-average Ordinary Share Equivalents Used to Calculate Basic and Diluted Earnings Per Share
The following table reflects basic weighted-average ordinary shares outstanding and diluted weighted-average ordinary share equivalents used to calculate basic and diluted earnings per share attributable to the shareholders of Flex: 
 Three-Month Periods EndedNine-Month Periods Ended
 December 31, 2025December 31, 2024December 31, 2025December 31, 2024
 (In millions, except per share amounts)
Numerator:
Net income$239 $263 $630 $616 
Denominator:  
Weighted-average ordinary shares outstanding - basic369 387 372 394 
Weighted-average ordinary share equivalents from RSU awards (1)7 7 7 7 
Weighted-average ordinary shares and ordinary share equivalents outstanding - diluted376 394 379 401 
Earnings per share:
Basic$0.65 $0.68 $1.69 $1.56 
Diluted$0.64 $0.67 $1.66 $1.54 
(1)An immaterial amount of RSU awards for both the three and nine-month periods ended December 31, 2025 and December 31, 2024, respectively, were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted-average ordinary share equivalents.
v3.25.4
BANK BORROWINGS AND LONG-TERM DEBT (Tables)
 9 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Bank Borrowings and Long-term Debt
Bank borrowings and long-term debt as of December 31, 2025 and March 31, 2025 are as follows:
 Maturity DateAs of December 31, 2025As of March 31, 2025
(In millions)
4.750% Notes (1)
June 2025$— $531 
3.750% Notes (1)
February 2026675 678 
6.000% Notes (1)
January 2028398 398 
4.875% Notes (1)
June 2029654 655 
4.875% Notes (1)
May 2030672 676 
5.250% Notes (1) (2)
January 2032651 499 
5.375% Notes (1) (2)
November 2035598 — 
Delayed Draw Term Loan (3)December 2027500 — 
3.600% HUF Bonds (4)
December 2031305 269 
Debt issuance costs(18)(14)
4,435 3,692 
Current portion, net of debt issuance costs(675)(1,209)
Non-current portion$3,760 $2,483 
(1)The notes are carried at the principal amount of each note less any unamortized discount and unamortized debt issuance costs and inclusive of any unamortized premium. The notes are the Company’s senior unsecured obligations and rank equally with all other existing and future senior unsecured debt obligations.
(2)In November 2025, the Company issued $600 million of 5.375% Notes due November 2035 and $150 million of 5.250% Notes due January 2032.
(3)In March 2025, the Company entered into a $500 million Delayed Draw Term Loan agreement and drew down the funds in June 2025 at the Secured Overnight Financing Rate ("SOFR") plus 100 basis points.
(4)The bonds mature in December 2031 with annual payments equal to 10% of the original principal amount thereof on each of the seventh, eighth, and ninth anniversaries of the bonds, with the remaining 70% due upon maturity.
Schedule of the Company's Repayments of Long-term Debt
Scheduled repayments of the Company's bank borrowings and long-term debt as of December 31, 2025 are as follows:
Fiscal Year Ending March 31,Amount
(In millions)
2026 (1)$675 
2027— 
2028898 
202930 
2030685 
Thereafter2,165 
Total$4,453 
(1)Represents estimated repayments for the remaining fiscal three-month period ending March 31, 2026. On February 2, 2026, the Company repaid the 3.750% Notes due February 2026.
v3.25.4
INTEREST EXPENSE AND INTEREST INCOME (Tables)
 9 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
Schedule of Interest Expense and Interest Income
Interest expense and interest income for the three and nine-month periods ended December 31, 2025 and 2024 are composed of the following:
 Three-Month Periods EndedNine-Month Periods Ended
 December 31, 2025December 31, 2024December 31, 2025December 31, 2024
 (In millions)
Interest expenses on debt obligations$54 $50 $146 $139 
AR sale program related expenses4 7 15 27 
Interest income(15)(16)(38)(48)
v3.25.4
FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedges, Assets [Abstract]  
Schedule of Aggregate Notional Amount of the Company's Outstanding Foreign Currency Forward and Swap Contracts
As of December 31, 2025, the aggregate notional amount of the Company’s outstanding foreign currency derivative contracts was $7.6 billion as summarized below: 
 Notional Contract Value in USD
CurrencyBuySell
 (In millions)
Cash Flow Hedges
p
MXN$548 $— 
HUF449 — 
CNY280 — 
Other507 12 
 1,784 12 
Other Foreign Currency Contracts
CNY713 298 
EUR658 500 
MXN470 363 
MYR276 130 
JPY15 286 
BRL— 283 
Other1,000 775 
 3,132 2,635 
Total Notional Contract Value in USD$4,916 $2,647 
Schedule of Fair Value of the Derivative Instruments Utilized for Foreign Currency Risk Management Purposes
The following table presents the fair value of the Company’s derivative instruments utilized for foreign currency risk management purposes at December 31, 2025 and March 31, 2025:
 Fair Values of Derivative Instruments
 Asset DerivativesLiability Derivatives
  Fair Value Fair Value
 Balance Sheet
Location		December 31,
2025		March 31,
2025		Balance Sheet
Location		December 31,
2025		March 31,
2025
 (In millions)
Derivatives designated as hedging instruments      
Foreign currency contractsOther current assets$61 $13 Other current liabilities$(4)$(18)
Foreign currency contractsOther non-current assets— — Other non-current liabilities(15)(46)
Derivatives not designated as hedging instruments      
Foreign currency contractsOther current assets$21 $21 Other current liabilities$(10)$(15)
v3.25.4
ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)
 9 Months Ended
Dec. 31, 2025
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Schedule of Changes in Accumulated Other Comprehensive Loss by Component, Net of Tax
The changes in accumulated other comprehensive loss by component, net of tax, are as follows: 
Three-Month Periods Ended
December 31, 2025December 31, 2024
 Unrealized gain
(loss) on derivative
instruments and
other		Foreign currency
translation
adjustments		TotalUnrealized gain
(loss) on derivative
instruments and
other		Foreign currency
translation
adjustments		Total
(In millions)
Beginning balance$20 $(131)$(111)$(13)$(160)$(173)
Other comprehensive gain (loss) before reclassifications31 3 34 (65)(85)(150)
Net (gain) loss reclassified from accumulated other comprehensive loss(27)— (27)44 — 44 
Net current-period other comprehensive gain (loss)4 3 7 (21)(85)(106)
Ending balance$24 $(128)$(104)$(34)$(245)$(279)
Nine-Month Periods Ended
December 31, 2025December 31, 2024
 Unrealized gain
(loss) on derivative
instruments and
other		Foreign currency
translation
adjustments		TotalUnrealized gain
(loss) on derivative
instruments and
other		Foreign currency
translation
adjustments		Total
(In millions)
Beginning balance$(19)$(205)$(224)$4 $(199)$(195)
Other comprehensive gain (loss) before reclassifications112 77 189 (87)(46)(133)
Net (gain) loss reclassified from accumulated other comprehensive loss(69)— (69)49 — 49 
Net current-period other comprehensive gain (loss)43 77 120 (38)(46)(84)
Ending balance$24 $(128)$(104)$(34)$(245)$(279)
v3.25.4
FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables)
 9 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2025 and March 31, 2025: 
 Fair Value Measurements as of December 31, 2025
 Level 1Level 2Level 3Total
 (In millions)
Assets:    
Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet)$— $2,254 $— $2,254 
Foreign currency contracts (Note 8)— 82 — 82 
Deferred compensation plan assets:   0
Mutual funds, money market accounts and equity securities35 14 — 49 
Liabilities:   
Foreign currency contracts (Note 8)$— $(29)$— $(29)
Contingent consideration in connection with business acquisitions— — (2)(2)
 Fair Value Measurements as of March 31, 2025
 Level 1Level 2Level 3Total
 (In millions)
Assets:    
Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet)$— $1,535 $— $1,535 
Foreign currency contracts (Note 8)— 34 — 34 
Deferred compensation plan assets:   0
Mutual funds, money market accounts and equity securities— 43 — 43 
Liabilities:   0
Foreign currency contracts (Note 8)$— $(79)$— $(79)
Contingent consideration in connection with business acquisitions— — (5)(5)
Schedule of Debt Not Carried at Fair Value
The following table presents the Company’s major debts not carried at fair value as of December 31, 2025 and March 31, 2025:  
 As of December 31, 2025As of March 31, 2025
 Carrying
Amount		Fair
Value		Carrying
Amount		Fair
Value		Fair Value
Hierarchy
 (In millions)
4.750% Notes due June 2025
$— $— $531 $531 Level 1
3.750% Notes due February 2026
675 674 678 672 Level 1
6.000% Notes due January 2028
398 411 398 409 Level 1
4.875% Notes due June 2029
654 665 655 651 Level 1
4.875% Notes due May 2030
672 683 676 669 Level 1
5.250% Notes due January 2032
651 666 499 497 Level 1
5.375% Notes due November 2035
598 600 — — Level 1
Delayed Draw Term Loan due December 2027500 500 — — Level 1
3.600% HUF Bonds due December 2031
305 244 269 215 Level 2
v3.25.4
BUSINESS ACQUISITIONS (Tables)
 9 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedules of Assets and Liabilities Acquired
The following represents the Company's initial allocation of the total purchase price to the acquired assets and liabilities of the acquired business (in millions):
Current Assets:
Inventory$15 
Unbilled Accounts Receivable9 
Accounts Receivable1 
        Total current assets25 
Operating lease right-of-use assets, net28 
Property and equipment4 
Intangible assets (1)2 
Goodwill8 
        Total assets$67 
Current Liabilities:
Accrued payroll$4 
Operating lease liabilities2 
        Total current liabilities6 
Operating lease liabilities, non-current26 
        Total liabilities32 
          Total aggregate purchase price$35 
(1)Intangible assets are comprised of customer related intangible assets and acquired technology, both of which will be amortized over a weighted-average estimated useful life of 5 years.
v3.25.4
SEGMENT REPORTING (Tables)
 9 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information by Operating Segment
Selected financial information by segment for the three and nine-month period ended December 31, 2025 and 2024 are in the tables below:
FASFRSCorporate & OtherTotal
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 compensation37 
Restructuring and impairment charges (1)9 
Customer related asset recoveries (2)(2)
Legal and other (3)12 
Interest expenses58 
Interest income15 
Other charges (income), net25 
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.
FASFRSCorporate & OtherTotal
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 compensation108 
Restructuring and impairment charges (1)83 
Customer related asset recoveries (2)(2)
Legal and other (3)27 
Interest expenses161 
Interest income38 
Other charges (income), net19 
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.
(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 fiscal year 2026, legal and other costs primarily related to other costs.
FASFRSCorporate & OtherTotal
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 compensation33 
Restructuring charges12 
Customer related asset recoveries (1)(2)
Legal and other (2)5 
Interest expenses57 
Interest income16 
Other charges (income), net5 
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.
FASFRSCorporate & OtherTotal
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 compensation93 
Restructuring charges54 
Customer related asset recoveries (1)(2)
Legal and other (2)5 
Interest expenses166 
Interest income48 
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 EndedNine-Month Periods Ended
December 31, 2025December 31, 2024December 31, 2025December 31, 2024
(In millions)(In millions)
Depreciation expense:
   Flex Agility Solutions$44 $45 $138 $134 
   Flex Reliability Solutions67 62 195 188 
   Corporate and Other2 3 9 9 
        Total depreciation expense$113 $110 $342 $331 
v3.25.4
RESTRUCTURING CHARGES (Tables)
 9 Months Ended
Dec. 31, 2025
Restructuring Charges [Abstract]  
Schedule of Provisions, Respective Payments, And Remaining Accrued Balance
The following table summarizes the provisions, respective payments, and remaining accrued balance for charges incurred as of December 31, 2025:
SeveranceLong-Lived
Asset
Impairment		Other
Exit Costs		Total
(In millions)
Balance as of March 31, 2025
$51 $— $— $51 
Provision for net charges incurred
26 9 4 39 
Cash payments
(47)— (4)(51)
Non-cash reductions
— (9)— (9)
Other adjustments— — 1 1 
Balance as of December 31, 2025
30 — 1 31 
Less: Current portion (classified as other current liabilities)30 — 1 31 
Accrued restructuring costs, net of current portion (classified as other non-current liabilities)$— $— $— $— 
v3.25.4
ORGANIZATION OF THE COMPANY AND BASIS OF PRESENTATION (Details)
$ in Millions
 3 Months Ended 9 Months Ended
Dec. 31, 2025
USD ($)
country
Dec. 31, 2024
USD ($)
Dec. 31, 2025
USD ($)
country
segment
Dec. 31, 2024
USD ($)
Product Information [Line Items]        
Number of countries in which entity operates | country 30   30  
Number of operating segments | segment     2  
Number of reporting segments | segment     2  
Restructuring and impairment charges $ 5 $ 2 $ 54 $ 13
Missile Strike in Ukraine        
Product Information [Line Items]        
Restructuring and impairment charges $ 5   46  
Customer related asset impairment     23  
Inventory write-down     13  
Other asset impairment charges     $ 10  
v3.25.4
BALANCE SHEET ITEMS - Schedule of Components of Inventories (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Mar. 31, 2025
Inventories    
Raw materials $ 4,447 $ 4,092
Work-in-progress 462 485
Finished goods 640 494
Inventories $ 5,549 $ 5,071
v3.25.4
BALANCE SHEET ITEMS - Additional Information (Details)
$ in Millions
 3 Months Ended 9 Months Ended
Jun. 27, 2025
USD ($)
Dec. 31, 2025
USD ($)
program
Mar. 31, 2025
USD ($)
Balance Sheet Related Disclosures [Abstract]      
Inventory controlled by customers held by the Company   $ 924 $ 416
Increase in goodwill   34  
Goodwill acquired $ 8    
Goodwill currency impact   26  
Customer working capital advances   1,500 1,600
Deferred tax asset   580 577
Other accrued liabilities current   $ 374 246
Number of supplier finance program | program   4  
Outstanding obligations   $ 129 $ 119
v3.25.4
BALANCE SHEET ITEMS - Schedule of Components of Acquired Intangible Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Mar. 31, 2025
Goodwill [Line Items]    
Gross Carrying Amount $ 517 $ 748
Accumulated Amortization (217) (405)
Total amortization expense 300 343
Customer-related intangibles    
Goodwill [Line Items]    
Gross Carrying Amount 318 383
Accumulated Amortization (147) (186)
Total amortization expense 171 197
Licenses and other intangibles    
Goodwill [Line Items]    
Gross Carrying Amount 199 365
Accumulated Amortization (70) (219)
Total amortization expense $ 129 $ 146
v3.25.4
BALANCE SHEET ITEMS - Schedule of Estimated Future Annual Amortization Expense For Intangible Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Mar. 31, 2025
Amount    
2026 $ 15  
2027 59  
2028 44  
2029 41  
2030 36  
Thereafter 105  
Total amortization expense $ 300 $ 343
v3.25.4
REVENUE - Additional Information (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Aug. 15, 2025
Mar. 31, 2025
Disaggregation of Revenue [Line Items]      
Contract with customer, liability $ 456   $ 377
August 2025 Warrant      
Disaggregation of Revenue [Line Items]      
Number of warrants issued (in shares) 0    
Amazon Com Investment Holdings | August 2025 Warrant      
Disaggregation of Revenue [Line Items]      
Number of warrants issued (in shares) 3,900,000 3,859,851  
Deferred Revenue and Customer Working Capital Advances Under Current Liabilities      
Disaggregation of Revenue [Line Items]      
Deferred revenue $ 418   $ 347
v3.25.4
REVENUE - Schedule of Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Disaggregation of Revenue [Line Items]        
Net sales $ 7,058 $ 6,556 $ 20,437 $ 19,415
Point in time        
Disaggregation of Revenue [Line Items]        
Net sales 4,729 4,809 14,327 15,476
Over time        
Disaggregation of Revenue [Line Items]        
Net sales 2,329 1,747 6,110 3,939
FAS | Operating Segments        
Disaggregation of Revenue [Line Items]        
Net sales 3,818 3,599 11,275 10,570
FAS | Operating Segments | Point in time        
Disaggregation of Revenue [Line Items]        
Net sales 2,702 2,849 8,471 8,646
FAS | Operating Segments | Over time        
Disaggregation of Revenue [Line Items]        
Net sales 1,116 750 2,804 1,924
FRS | Operating Segments        
Disaggregation of Revenue [Line Items]        
Net sales 3,240 2,957 9,162 8,845
FRS | Operating Segments | Point in time        
Disaggregation of Revenue [Line Items]        
Net sales 2,027 1,960 5,856 6,830
FRS | Operating Segments | Over time        
Disaggregation of Revenue [Line Items]        
Net sales $ 1,213 $ 997 $ 3,306 $ 2,015
v3.25.4
SHARE-BASED COMPENSATION AND WARRANTS - Schedule of Share-based Compensation Expense (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Share-based compensation        
Total share-based compensation expense $ 37 $ 33 $ 108 $ 93
Cost of sales        
Share-based compensation        
Total share-based compensation expense 9 9 26 25
Selling, general and administrative expenses        
Share-based compensation        
Total share-based compensation expense $ 28 $ 24 $ 82 $ 68
v3.25.4
SHARE-BASED COMPENSATION AND WARRANTS - Additional Information (Details)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Dec. 31, 2025
USD ($)
$ / shares
shares
Dec. 31, 2025
USD ($)
$ / shares
shares
Aug. 15, 2025
d
$ / shares
shares
August 2025 Warrant      
Share-based compensation      
Number of warrants issued (in shares) 0 0  
Warrant (in usd per share) | $ / shares     $ 25.47
Adjustment of warrants granted for services | $ $ 3 $ 5  
Amazon Com Investment Holdings | August 2025 Warrant      
Share-based compensation      
Number of warrants issued (in shares) 3,900,000 3,900,000 3,859,851
Exercise price (in usd per share) | $ / shares     $ 51.29
Exercise price of warrants, trading days | d     30
Amazon Com Investment Holdings | Additional Available Warrant August 2030      
Share-based compensation      
Warrant expiration period (in years)     2 years
Restricted Stock Units | 2017 Plan      
Share-based compensation      
Awards granted (in shares)   4,300,000  
Number of shares outstanding (in shares) 9,500,000 9,500,000  
Unrecognized compensation expense | $ $ 224 $ 224  
Share weighted-average remaining vesting period   2 years 1 month 6 days  
RSU with No Performance Or Market Conditions | 2017 Plan      
Share-based compensation      
Awards granted (in shares)   2,000,000.0  
Average grant date price of unvested share bonus awards (in usd per share) | $ / shares $ 43.99 $ 43.99  
RSU with No Performance Or Market Conditions | 2017 Plan | Maximum      
Share-based compensation      
Vesting period   3 years  
RSU with Performance Conditions | 2017 Plan      
Share-based compensation      
Number of shares outstanding (in shares) 1,700,000 1,700,000  
RSU with Performance Conditions | 2017 Plan | Key employees      
Share-based compensation      
Awards granted (in shares)   1,000,000  
Average grant date price of unvested share bonus awards (in usd per share) | $ / shares $ 45.09 $ 45.09  
RSU with Performance Conditions | 2017 Plan | Minimum      
Share-based compensation      
Number of shares that may be issued (in shares)   0  
RSU with Performance Conditions | 2017 Plan | Minimum | Key employees      
Share-based compensation      
Awards granted (in shares)   0  
RSU with Performance Conditions | 2017 Plan | Maximum      
Share-based compensation      
Number of shares that may be issued (in shares)   3,900,000  
RSU with Performance Conditions | 2017 Plan | Maximum | Key employees      
Share-based compensation      
Awards granted (in shares)   2,400,000  
Vesting period   3 years  
RSU with Market Conditions | 2017 Plan      
Share-based compensation      
Number of shares outstanding (in shares) 800,000 800,000  
Vested in period (in shares)   2,300,000  
RSU with Market Conditions | 2017 Plan | Key employees      
Share-based compensation      
Awards granted (in shares)   200,000  
Vesting period   3 years  
Average grant date price of unvested share bonus awards (in usd per share) | $ / shares $ 58.55 $ 58.55  
RSU with Market Conditions | 2017 Plan | Minimum      
Share-based compensation      
Number of shares that may be issued (in shares)   0  
RSU with Market Conditions | 2017 Plan | Minimum | Key employees      
Share-based compensation      
Awards granted (in shares)   0  
RSU with Market Conditions | 2017 Plan | Maximum      
Share-based compensation      
Number of shares that may be issued (in shares)   1,600,000  
RSU with Market Conditions | 2017 Plan | Maximum | Key employees      
Share-based compensation      
Awards granted (in shares)   400,000  
Restricted Stock Units With Market And Performance Conditions | 2017 Plan      
Share-based compensation      
Awards granted (in shares)   1,100,000  
v3.25.4
SHARE-BASED COMPENSATION AND WARRANTS - Schedule of Warrants Valuation Assumptions (Details) - August 2025 Warrant
Aug. 15, 2025
yr
Expected volatility  
Share-based compensation  
Warrants outstanding, measurement input 0.458
Expected dividend yield  
Share-based compensation  
Warrants outstanding, measurement input 0
Expected life  
Share-based compensation  
Warrants outstanding, measurement input 7
Risk-free interest rate  
Share-based compensation  
Warrants outstanding, measurement input 0.040
v3.25.4
EARNINGS PER SHARE (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Numerator:        
Net income $ 239 $ 263 $ 630 $ 616
Denominator:        
Weighted-average ordinary shares outstanding - basic (in shares) 369.0 387.0 372.0 394.0
Weighted-average ordinary share equivalents from RSU awards (in shares) 7.0 7.0 7.0 7.0
Weighted-average ordinary shares and ordinary share equivalents outstanding - diluted (in shares) 376.0 394.0 379.0 401.0
Earnings per share:        
Basic (in dollars per share) $ 0.65 $ 0.68 $ 1.69 $ 1.56
Diluted (in dollars per share) $ 0.64 $ 0.67 $ 1.66 $ 1.54
Restricted Stock Units        
Earnings per share:        
Restricted share unit awards excluded from computation of diluted earnings per share due to their anti-dilutive impact (in shares) 0.0   0.0  
v3.25.4
BANK BORROWINGS AND LONG-TERM DEBT - Schedule of Bank Borrowings and Long-term Debt (Details) - USD ($)
$ in Millions
 1 Months Ended
Mar. 31, 2025
Dec. 31, 2025
Dec. 01, 2025
Nov. 30, 2025
Debt Instrument [Line Items]        
Long-term debt, gross   $ 4,453    
Debt issuance costs $ (14) (18)    
Total 3,692 4,435    
Current portion, net of debt issuance costs (1,209) (675)    
Non-current portion 2,483 $ 3,760    
4.750% Notes due June 2025 | Unsecured Debt        
Debt Instrument [Line Items]        
Debt interest rate   4.75%    
Long-term debt, gross 531 $ 0    
3.750% Notes due February 2026 | Unsecured Debt        
Debt Instrument [Line Items]        
Debt interest rate   3.75%   3.75%
Long-term debt, gross 678 $ 675    
6.000% Notes due January 2028 | Unsecured Debt        
Debt Instrument [Line Items]        
Debt interest rate   6.00%    
Long-term debt, gross 398 $ 398    
4.875% Notes due June 2029 | Unsecured Debt        
Debt Instrument [Line Items]        
Debt interest rate   4.875%    
Long-term debt, gross 655 $ 654    
4.875% Notes due May 2030 | Unsecured Debt        
Debt Instrument [Line Items]        
Debt interest rate   4.875%    
Long-term debt, gross 676 $ 672    
5.250% Notes due January 2032 | Unsecured Debt        
Debt Instrument [Line Items]        
Debt interest rate   5.25% 5.25% 5.25%
Long-term debt, gross 499 $ 651 $ 650  
Debt instrument, face amount       $ 150
5.250% Notes due January 2032 | Medium-Term Note        
Debt Instrument [Line Items]        
Debt instrument, face amount       $ 150
5.375% Notes due November 2035 | Unsecured Debt        
Debt Instrument [Line Items]        
Debt interest rate   5.375%   5.375%
Long-term debt, gross 0 $ 598    
Debt instrument, face amount       $ 600
5.375% Notes due November 2035 | Medium-Term Note        
Debt Instrument [Line Items]        
Debt instrument, face amount       $ 600
Delayed Draw Term Loan due December 2027        
Debt Instrument [Line Items]        
Long-term debt, gross 0 $ 500    
Delayed Draw Term Loan due December 2027 | Delayed Draw Term Loan        
Debt Instrument [Line Items]        
Borrowings outstanding $ 500      
Debt instrument, basis spread on variable rate (as a percent) 1.00%      
3.600% HUF Bonds due December 2031        
Debt Instrument [Line Items]        
Debt interest rate   3.60%    
Long-term debt, gross $ 269 $ 305    
3.600% HUF Bonds due December 2031 | Term Loan        
Debt Instrument [Line Items]        
Percentage of remainder debt payment due   70.00%    
3.600% HUF Bonds due December 2031 | Term Loan | Debt Instrument, Redemption, Period One        
Debt Instrument [Line Items]        
Percentage of initial debt payment due   10.00%    
3.600% HUF Bonds due December 2031 | Term Loan | Debt Instrument, Redemption, Period Two        
Debt Instrument [Line Items]        
Percentage of initial debt payment due   10.00%    
3.600% HUF Bonds due December 2031 | Term Loan | Debt Instrument, Redemption, Period Three        
Debt Instrument [Line Items]        
Percentage of initial debt payment due   10.00%    
v3.25.4
BANK BORROWINGS AND LONG-TERM DEBT - Additional Information (Details) - USD ($)
$ in Millions
 1 Months Ended 9 Months Ended
Nov. 30, 2025
Jul. 31, 2025
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 01, 2025
Debt Instrument [Line Items]            
Weighted-average interest rate     4.60% 4.70%    
Long-term debt, gross       $ 4,453    
Proceeds from issuance of debt $ 746     $ 1,251 $ 499  
5.375% Notes due November 2035 | Medium-Term Note            
Debt Instrument [Line Items]            
Debt instrument, face amount 600          
5.375% Notes due November 2035 | Unsecured Debt            
Debt Instrument [Line Items]            
Debt instrument, face amount $ 600          
Debt interest rate 5.375%     5.375%    
Redemption price percentage 99.732%          
Long-term debt, gross     $ 0 $ 598    
5.250% Notes due January 2032 | Medium-Term Note            
Debt Instrument [Line Items]            
Debt instrument, face amount $ 150          
5.250% Notes due January 2032 | Unsecured Debt            
Debt Instrument [Line Items]            
Debt instrument, face amount $ 150          
Debt interest rate 5.25%     5.25%   5.25%
Redemption price percentage 101.561%          
Long-term debt, gross     499 $ 651   $ 650
Debt issuance costs, net $ 7          
3.750% Notes due February 2026 | Unsecured Debt            
Debt Instrument [Line Items]            
Debt interest rate 3.75%     3.75%    
Long-term debt, gross     678 $ 675    
New Credit Facility Member | Line of Credit            
Debt Instrument [Line Items]            
Line of credit facility, maximum borrowing capacity   $ 2,750        
New Credit Facility Member | Line of Credit | Revolving Credit Facility            
Debt Instrument [Line Items]            
Line of credit facility, maximum borrowing capacity   $ 2,750        
New Credit Facility Member | Line of Credit | Revolving Credit Facility | Minimum            
Debt Instrument [Line Items]            
Commitment fee percentage   0.10%        
New Credit Facility Member | Line of Credit | Revolving Credit Facility | Maximum            
Debt Instrument [Line Items]            
Commitment fee percentage   0.275%        
New Credit Facility Member | Line of Credit | Swing Line Loans            
Debt Instrument [Line Items]            
Line of credit facility, maximum borrowing capacity   $ 400        
New Credit Facility Member | Line of Credit | Letter of Credit            
Debt Instrument [Line Items]            
Line of credit facility, maximum borrowing capacity   $ 200        
Line of credit facility, unused capacity, commitment fee percentage   0.125%        
New Credit Facility Member | Line of Credit | Letter of Credit | Minimum            
Debt Instrument [Line Items]            
Commitment fee percentage   1.00%        
New Credit Facility Member | Line of Credit | Letter of Credit | Maximum            
Debt Instrument [Line Items]            
Commitment fee percentage   1.75%        
2027 Credit Facility | Line of Credit            
Debt Instrument [Line Items]            
Line of credit facility, maximum borrowing capacity   $ 2,500        
Delayed Draw Term Loan Credit Agreement | Delayed Draw Term Loan            
Debt Instrument [Line Items]            
Borrowings outstanding     $ 500 $ 500    
Debt instrument, basis spread on variable rate (as a percent)     1.00%      
v3.25.4
BANK BORROWINGS AND LONG-TERM DEBT - Schedule of Repayment of Long-term Debt (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Nov. 30, 2025
Mar. 31, 2025
Debt Instrument [Line Items]      
2026 $ 675    
2027 0    
2028 898    
2029 30    
2030 685    
Thereafter 2,165    
Total 4,453    
3.750% Notes due February 2026 | Unsecured Debt      
Debt Instrument [Line Items]      
Total $ 675   $ 678
Debt interest rate 3.75% 3.75%  
v3.25.4
INTEREST EXPENSE AND INTEREST INCOME (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Other Income and Expenses [Abstract]        
Interest expenses on debt obligations $ 54 $ 50 $ 146 $ 139
AR sale program related expenses 4 7 15 27
Interest income $ (15) $ (16) $ (38) $ (48)
v3.25.4
FINANCIAL INSTRUMENTS - Schedule of Aggregate Notional Amount of the Company's Outstanding Foreign Currency Forward and Swap Contracts (Details) - Forward and Swap Contracts
$ in Millions
Dec. 31, 2025
USD ($)
Notional amount  
Derivative, notional amount $ 7,600
Buy  
Notional amount  
Derivative, notional amount 4,916
Buy | Designated as Hedging Instrument | Cash Flow Hedges  
Notional amount  
Derivative, notional amount 1,784
Buy | Designated as Hedging Instrument | Cash Flow Hedges | MXN  
Notional amount  
Derivative, notional amount 548
Buy | Designated as Hedging Instrument | Cash Flow Hedges | HUF  
Notional amount  
Derivative, notional amount 449
Buy | Designated as Hedging Instrument | Cash Flow Hedges | CNY  
Notional amount  
Derivative, notional amount 280
Buy | Designated as Hedging Instrument | Cash Flow Hedges | Other  
Notional amount  
Derivative, notional amount 507
Buy | Not Designated as Hedging Instrument  
Notional amount  
Derivative, notional amount 3,132
Buy | Not Designated as Hedging Instrument | MXN  
Notional amount  
Derivative, notional amount 470
Buy | Not Designated as Hedging Instrument | CNY  
Notional amount  
Derivative, notional amount 713
Buy | Not Designated as Hedging Instrument | Other  
Notional amount  
Derivative, notional amount 1,000
Buy | Not Designated as Hedging Instrument | EUR  
Notional amount  
Derivative, notional amount 658
Buy | Not Designated as Hedging Instrument | MYR  
Notional amount  
Derivative, notional amount 276
Buy | Not Designated as Hedging Instrument | JPY  
Notional amount  
Derivative, notional amount 15
Buy | Not Designated as Hedging Instrument | BRL  
Notional amount  
Derivative, notional amount 0
Sell  
Notional amount  
Derivative, notional amount 2,647
Sell | Designated as Hedging Instrument | Cash Flow Hedges  
Notional amount  
Derivative, notional amount 12
Sell | Designated as Hedging Instrument | Cash Flow Hedges | MXN  
Notional amount  
Derivative, notional amount 0
Sell | Designated as Hedging Instrument | Cash Flow Hedges | HUF  
Notional amount  
Derivative, notional amount 0
Sell | Designated as Hedging Instrument | Cash Flow Hedges | CNY  
Notional amount  
Derivative, notional amount 0
Sell | Designated as Hedging Instrument | Cash Flow Hedges | Other  
Notional amount  
Derivative, notional amount 12
Sell | Not Designated as Hedging Instrument  
Notional amount  
Derivative, notional amount 2,635
Sell | Not Designated as Hedging Instrument | MXN  
Notional amount  
Derivative, notional amount 363
Sell | Not Designated as Hedging Instrument | CNY  
Notional amount  
Derivative, notional amount 298
Sell | Not Designated as Hedging Instrument | Other  
Notional amount  
Derivative, notional amount 775
Sell | Not Designated as Hedging Instrument | EUR  
Notional amount  
Derivative, notional amount 500
Sell | Not Designated as Hedging Instrument | MYR  
Notional amount  
Derivative, notional amount 130
Sell | Not Designated as Hedging Instrument | JPY  
Notional amount  
Derivative, notional amount 286
Sell | Not Designated as Hedging Instrument | BRL  
Notional amount  
Derivative, notional amount $ 283
v3.25.4
FINANCIAL INSTRUMENTS - Additional Information (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Derivative Instruments and Hedges, Assets [Abstract]  
Deferred gains expected to be recognized over next twelve-month period $ 34
v3.25.4
FINANCIAL INSTRUMENTS - Schedule of Fair Value of the Derivative Instruments Utilized for Foreign Currency Risk Management Purposes (Details) - Foreign currency contracts - USD ($)
$ in Millions
Dec. 31, 2025
Mar. 31, 2025
Other current assets | Derivatives designated as hedging instruments    
Fair Values of Derivative Instruments    
Asset Derivatives $ 61 $ 13
Other current assets | Derivatives not designated as hedging instruments    
Fair Values of Derivative Instruments    
Asset Derivatives 21 21
Other non-current assets | Derivatives designated as hedging instruments    
Fair Values of Derivative Instruments    
Asset Derivatives 0 0
Other current liabilities | Derivatives designated as hedging instruments    
Fair Values of Derivative Instruments    
Liability Derivatives (4) (18)
Other current liabilities | Derivatives not designated as hedging instruments    
Fair Values of Derivative Instruments    
Liability Derivatives (10) (15)
Other non-current liabilities | Derivatives designated as hedging instruments    
Fair Values of Derivative Instruments    
Liability Derivatives $ (15) $ (46)
v3.25.4
ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Changes in Accumulated Other Comprehensive Loss by Component, Net of Tax (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance $ 5,035 $ 5,003 $ 5,002 $ 5,325
Other comprehensive gain (loss) before reclassifications 34 (150) 189 (133)
Net (gain) loss reclassified from accumulated other comprehensive loss (27) 44 (69) 49
Net current-period other comprehensive gain (loss) 7 (106) 120 (84)
Ending balance 5,121 4,992 5,121 4,992
Unrealized gain (loss) on derivative instruments and other        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance 20 (13) (19) 4
Other comprehensive gain (loss) before reclassifications 31 (65) 112 (87)
Net (gain) loss reclassified from accumulated other comprehensive loss (27) 44 (69) 49
Net current-period other comprehensive gain (loss) 4 (21) 43 (38)
Ending balance 24 (34) 24 (34)
Foreign currency translation adjustments        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance (131) (160) (205) (199)
Other comprehensive gain (loss) before reclassifications 3 (85) 77 (46)
Net (gain) loss reclassified from accumulated other comprehensive loss 0 0 0 0
Net current-period other comprehensive gain (loss) 3 (85) 77 (46)
Ending balance (128) (245) (128) (245)
Total Accumulated Other Comprehensive Gain (Loss)        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance (111) (173) (224) (195)
Net current-period other comprehensive gain (loss) 7 (106) 120 (84)
Ending balance $ (104) $ (279) $ (104) $ (279)
v3.25.4
ACCUMULATED OTHER COMPREHENSIVE LOSS - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]        
Tax impact on changes in accumulated other comprehensive income $ (1) $ 5 $ (14) $ 16
v3.25.4
TRADE RECEIVABLES SALES PROGRAMS (Details) - Sales of Receivables to Third Party Banks - USD ($)
$ in Billions
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Trade Receivables Securitization disclosures      
Receivables sold but not yet collected from banking institutions $ 0.6 $ 0.7  
Company's accounts receivables sold to third-party $ 2.3   $ 3.0
v3.25.4
FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES - Additional Information (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Mar. 31, 2025
Other financial instruments    
Contingent consideration $ 2 $ 5
Jetcool    
Other financial instruments    
Contingent consideration   $ 5
v3.25.4
FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES -Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Mar. 31, 2025
Assets:    
Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet) $ 2,254 $ 1,535
Foreign currency contracts (Note 8) 82 34
Mutual funds, money market accounts and equity securities 49 43
Liabilities:    
Foreign currency contracts (Note 8) (29) (79)
Contingent consideration in connection with business acquisitions (2) (5)
Level 1    
Assets:    
Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet) 0 0
Foreign currency contracts (Note 8) 0 0
Mutual funds, money market accounts and equity securities 35 0
Liabilities:    
Foreign currency contracts (Note 8) 0 0
Contingent consideration in connection with business acquisitions 0 0
Level 2    
Assets:    
Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet) 2,254 1,535
Foreign currency contracts (Note 8) 82 34
Mutual funds, money market accounts and equity securities 14 43
Liabilities:    
Foreign currency contracts (Note 8) (29) (79)
Contingent consideration in connection with business acquisitions 0 0
Level 3    
Assets:    
Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet) 0 0
Foreign currency contracts (Note 8) 0 0
Mutual funds, money market accounts and equity securities 0 0
Liabilities:    
Foreign currency contracts (Note 8) 0 0
Contingent consideration in connection with business acquisitions $ (2) $ (5)
v3.25.4
FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES - Schedule of Debt Not Carried at Fair Value (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Mar. 31, 2025
3.600% HUF Bonds due December 2031    
Other financial instruments    
Debt interest rate 3.60%  
Level 1 | 4.750% Notes due June 2025 | Carrying Amount    
Other financial instruments    
Debt instrument $ 0 $ 531
Level 1 | 4.750% Notes due June 2025 | Fair Value    
Other financial instruments    
Debt instrument 0 531
Level 1 | 3.750% Notes due February 2026 | Carrying Amount    
Other financial instruments    
Debt instrument 675 678
Level 1 | 3.750% Notes due February 2026 | Fair Value    
Other financial instruments    
Debt instrument 674 672
Level 1 | 6.000% Notes due January 2028 | Carrying Amount    
Other financial instruments    
Debt instrument 398 398
Level 1 | 6.000% Notes due January 2028 | Fair Value    
Other financial instruments    
Debt instrument 411 409
Level 1 | 4.875% Notes due June 2029 | Carrying Amount    
Other financial instruments    
Debt instrument 654 655
Level 1 | 4.875% Notes due June 2029 | Fair Value    
Other financial instruments    
Debt instrument 665 651
Level 1 | 4.875% Notes due May 2030 | Carrying Amount    
Other financial instruments    
Debt instrument 672 676
Level 1 | 4.875% Notes due May 2030 | Fair Value    
Other financial instruments    
Debt instrument 683 669
Level 1 | 5.250% Notes due January 2032 | Carrying Amount    
Other financial instruments    
Debt instrument 651 499
Level 1 | 5.250% Notes due January 2032 | Fair Value    
Other financial instruments    
Debt instrument 666 497
Level 1 | 5.375% Notes due November 2035 | Carrying Amount    
Other financial instruments    
Debt instrument 598 0
Level 1 | 5.375% Notes due November 2035 | Fair Value    
Other financial instruments    
Debt instrument 600 0
Level 1 | Delayed Draw Term Loan due December 2027 | Carrying Amount    
Other financial instruments    
Debt instrument 500 0
Level 1 | Delayed Draw Term Loan due December 2027 | Fair Value    
Other financial instruments    
Debt instrument 500 0
Level 2 | 3.600% HUF Bonds due December 2031 | Carrying Amount    
Other financial instruments    
Debt instrument 305 269
Level 2 | 3.600% HUF Bonds due December 2031 | Fair Value    
Other financial instruments    
Debt instrument $ 244 $ 215
v3.25.4
BUSINESS ACQUISITIONS - Additional Information (Details)
$ in Millions
 3 Months Ended
Jun. 27, 2025
USD ($)
Bielsko Biala Manufacturing Business  
Business Combination [Line Items]  
Purchase consideration $ 35
v3.25.4
BUSINESS ACQUISITIONS - Schedules of Assets and Liabilities Acquired (Details) - USD ($)
$ in Millions
 3 Months Ended
Jun. 27, 2025
Dec. 31, 2025
Mar. 31, 2025
Current Assets:      
Goodwill   $ 1,375 $ 1,341
Bielsko Biala Manufacturing Business      
Current Assets:      
Inventory $ 15    
Unbilled Accounts Receivable 9    
Accounts Receivable 1    
Total current assets 25    
Operating lease right-of-use assets, net 28    
Property and equipment 4    
Intangible assets 2    
Goodwill 8    
Total assets 67    
Current Liabilities:      
Accrued payroll 4    
Operating lease liabilities 2    
Total current liabilities 6    
Operating lease liabilities, non-current 26    
Total liabilities 32    
Total aggregate purchase price $ 35    
Weighted average useful life of acquired intangible assets (in years) 5 years    
v3.25.4
COMMITMENTS AND CONTINGENCIES (Details)
R$ in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 19, 2023
USD ($)
Sep. 19, 2023
BRL (R$)
Mar. 23, 2020
USD ($)
Mar. 23, 2020
BRL (R$)
Dec. 31, 2025
USD ($)
tax_assessment
Dec. 31, 2024
USD ($)
Dec. 31, 2025
USD ($)
tax_assessment
Dec. 31, 2024
USD ($)
Loss Contingencies [Line Items]                
Income tax expense         $ 81 $ 25 $ 198 $ 128
Foreign Tax Jurisdiction                
Loss Contingencies [Line Items]                
Estimate of possible loss             167  
Liability (refund) adjustment from settlement with taxing authority         50   50  
Income tax expensed in prior years             31  
Income taxes paid in prior years             30  
Income tax expense         19      
Estimate of possible additional loss         $ 20   $ 20  
Assessment of Sales and Import Taxes | BRAZIL | Foreign Tax Jurisdiction                
Loss Contingencies [Line Items]                
Sales and import taxes, number of tax assessments | tax_assessment             6  
Sales and import taxes, number of tax assessments defeated | tax_assessment             4  
Sales and import taxes, number of tax assessments remaining | tax_assessment         2   2  
Sales and import taxes, estimate of possible loss $ 11 R$ 60 $ 7 R$ 37        
v3.25.4
SHARE REPURCHASES (Details) - USD ($)
shares in Millions
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Aug. 06, 2025
Treasury Stock, Number of Shares and Restriction Disclosures [Abstract]      
Aggregate shares repurchased and retired (in shares) 3.3 16.1  
Aggregate purchase price of shares repurchased and retired $ 200,000,000 $ 744,000,000  
Authorized amount of stock repurchase program     $ 1,700,000,000
Amount remaining to be repurchased under the plans $ 1,300,000,000 $ 1,300,000,000  
v3.25.4
SEGMENT REPORTING - Additional Information (Details)
 9 Months Ended
Dec. 31, 2025
segment
Segment Reporting [Abstract]  
Number of operating segments 2
Number of reporting segments 2
v3.25.4
SEGMENT REPORTING - Schedule of Segment Reporting Information by Operating Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Segment Reporting Information [Line Items]        
Net sales $ 7,058.0 $ 6,556.0 $ 20,437.0 $ 19,415.0
Cost of inventory (4,931.0) (4,617.0) (14,327.0) (13,784.0)
Manufacturing expenses (1,437.0) (1,329.0) (4,192.0) (3,972.0)
Segment selling, general and administrative expenses (230.0) (211.0) (654.0) (596.0)
Segment income 460.0 399.0 1,264.0 1,063.0
Reconciling items:        
Intangible amortization 15.0 17.0 52.0 49.0
Stock-based compensation 37.0 33.0 108.0 93.0
Restructuring and impairment charges 9.0   83.0  
Restructuring charges   12.0   54.0
Customer related asset recoveries (2.0)   (2.0) (2.0)
Legal and other 12.0   27.0 5.0
Interest expense 58.0 57.0 161.0 166.0
Interest income 15.0 16.0 38.0 48.0
Other charges (income), net 25.0 5.0 19.0 (1.0)
Equity in earnings (losses) of unconsolidated affiliates (1.0) 0.0 (26.0) (3.0)
Income before income taxes 320.0 288.0 828.0 744.0
Other restructuring costs 2.0   2.0  
Restructuring and impairment charges 5.0 2.0 54.0 13.0
Accrued asset impairment   5.0   5.0
Missile Strike in Ukraine        
Reconciling items:        
Restructuring and impairment charges 5.0   46.0  
Operating Segments        
Reconciling items:        
Other restructuring costs     2.0  
Operating Segments | Flex Agility Solutions        
Segment Reporting Information [Line Items]        
Net sales 3,818.0 3,599.0 11,275.0 10,570.0
Cost of inventory (2,795.0) (2,650.0) (8,307.0) (7,826.0)
Manufacturing expenses (695.0) (637.0) (1,996.0) (1,875.0)
Segment selling, general and administrative expenses (89.0) (85.0) (266.0) (245.0)
Segment income 239.0 227.0 706.0 624.0
Operating Segments | Flex Reliability Solutions        
Segment Reporting Information [Line Items]        
Net sales 3,240.0 2,957.0 9,162.0 8,845.0
Cost of inventory (2,137.0) (1,967.0) (6,020.0) (5,958.0)
Manufacturing expenses (758.0) (685.0) (2,207.0) (2,076.0)
Segment selling, general and administrative expenses (112.0) (107.0) (333.0) (307.0)
Segment income 233.0 198.0 602.0 504.0
Corporate & Other        
Segment Reporting Information [Line Items]        
Net sales 0.0 0.0 0.0 0.0
Cost of inventory 1.0 0.0 0.0 0.0
Manufacturing expenses 16.0 (7.0) 11.0 (21.0)
Segment selling, general and administrative expenses (29.0) (19.0) (55.0) (44.0)
Segment income $ (12.0) $ (26.0) $ (44.0) $ (65.0)
v3.25.4
SEGMENT REPORTING - Schedule of Total Depreciation Expense (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Segment Reporting Information [Line Items]        
Total depreciation expense $ 113 $ 110 $ 342 $ 331
Operating Segments | FAS        
Segment Reporting Information [Line Items]        
Total depreciation expense 44 45 138 134
Operating Segments | FRS        
Segment Reporting Information [Line Items]        
Total depreciation expense 67 62 195 188
Corporate & Other        
Segment Reporting Information [Line Items]        
Total depreciation expense $ 2 $ 3 $ 9 $ 9
v3.25.4
RESTRUCTURING CHARGES - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Restructuring Charges [Abstract]    
Restructuring charges $ 6 $ 39
Other restructuring costs $ 2 $ 2
v3.25.4
RESTRUCTURING CHARGES - Schedule of Provisions, Respective Payments, And Remaining Accrued Balance (Details)
$ in Millions
 3 Months Ended 9 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2025
USD ($)
Restructuring Reserve [Roll Forward]    
Beginning balance   $ 51
Provision for net charges incurred $ 6 39
Cash payments   (51)
Non-cash reductions   (9)
Other adjustments   1
Ending balance 31 31
Less: Current portion (classified as other current liabilities) 31 31
Accrued restructuring costs, net of current portion (classified as other non-current liabilities) 0 0
Severance    
Restructuring Reserve [Roll Forward]    
Beginning balance   51
Provision for net charges incurred   26
Cash payments   (47)
Non-cash reductions   0
Other adjustments   0
Ending balance 30 30
Less: Current portion (classified as other current liabilities) 30 30
Accrued restructuring costs, net of current portion (classified as other non-current liabilities) 0 0
Long-Lived Asset Impairment    
Restructuring Reserve [Roll Forward]    
Beginning balance   0
Provision for net charges incurred   9
Cash payments   0
Non-cash reductions   (9)
Other adjustments   0
Ending balance 0 0
Less: Current portion (classified as other current liabilities) 0 0
Accrued restructuring costs, net of current portion (classified as other non-current liabilities) 0 0
Other Exit Costs    
Restructuring Reserve [Roll Forward]    
Beginning balance   0
Provision for net charges incurred   4
Cash payments   (4)
Non-cash reductions   0
Other adjustments   1
Ending balance 1 1
Less: Current portion (classified as other current liabilities) 1 1
Accrued restructuring costs, net of current portion (classified as other non-current liabilities) $ 0 $ 0