Flex (FLEX) 10-Q 27 Jan 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2016	Jan. 23, 2017
Document and Entity Information
Entity Registrant Name	FLEX LTD.
Entity Central Index Key	866,374
Document Type	10-Q
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding (shares)		535,220,962
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016
Current assets:
Cash and cash equivalents	$ 1,857,096	$ 1,607,570
Accounts receivable, net of allowance for doubtful accounts of $60,112 and $64,608 as of December 31, 2016 and March 31, 2016, respectively	2,162,750	2,044,757
Inventories	3,493,617	3,491,656
Other current assets	1,100,159	1,171,143
Total current assets	8,613,622	8,315,126
Property and equipment, net	2,321,536	2,257,633
Goodwill and other intangible assets, net	1,337,321	1,345,820
Other assets	530,570	466,402
Total assets	12,803,049	12,384,981
Current liabilities:
Bank borrowings and current portion of long-term debt	68,856	65,166
Accounts payable	4,699,734	4,248,292
Accrued payroll	357,922	353,547
Other current liabilities	1,751,245	1,905,200
Total current liabilities	6,877,757	6,572,205
Long-term debt, net of current portion	2,797,984	2,709,389
Other liabilities	485,811	497,857
Commitments and contingencies (Note 13)
Flex Ltd. shareholders’ equity
Ordinary shares, no par value; 586,818,174 and 595,062,966 issued, and 536,578,819 and 544,823,611 outstanding as of December 31, 2016 and March 31, 2016, respectively	6,806,797	6,987,214
Treasury stock, at cost; 50,239,355 shares as of December 31, 2016 and March 31, 2016	(388,215)	(388,215)
Accumulated deficit	(3,659,522)	(3,892,212)
Accumulated other comprehensive loss	(159,165)	(135,915)
Total Flex Ltd. shareholders’ equity	2,599,895	2,570,872
Noncontrolling interests	41,602	34,658
Total shareholders’ equity	2,641,497	2,605,530
Total liabilities and shareholders’ equity	$ 12,803,049	$ 12,384,981

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 60,112	$ 64,608
Ordinary shares, par value (in dollars per share)	$ 0	$ 0
Ordinary shares, issued (shares)	586,818,174	595,062,966
Ordinary shares, outstanding (shares)	536,578,819	544,823,611
Treasury stock, shares (shares)	50,239,355	50,239,355

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Net sales	$ 6,114,999	$ 6,763,177	$ 18,000,337	$ 18,646,187
Cost of sales	5,698,544	6,310,710	16,864,196	17,444,463
Gross profit	416,455	452,467	1,136,141	1,201,724
Selling, general and administrative expenses	231,551	240,617	715,040	666,798
Intangible amortization	18,734	19,319	62,318	43,117
Interest and other, net	22,838	21,566	71,869	60,106
Other charges, net	3,090	44,415	15,007	46,257
Income before income taxes	140,242	126,550	271,907	385,446
Provision for (benefit from) income taxes	10,773	(22,360)	39,217	2,709
Net income	$ 129,469	$ 148,910	$ 232,690	$ 382,737
Earnings per share
Basic (in dollars per share)	$ 0.24	$ 0.27	$ 0.43	$ 0.68
Diluted (in dollars per share)	$ 0.24	$ 0.27	$ 0.42	$ 0.67
Weighted-average shares used in computing per share amounts:
Basic (in shares)	539,638	554,919	542,780	561,070
Diluted (in shares)	545,022	560,996	548,372	568,926

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 129,469	$ 148,910	$ 232,690	$ 382,737
Other comprehensive income (loss):
Foreign currency translation adjustments, net of zero tax	(36,412)	30,063	(22,338)	2,579
Unrealized gain (loss) on derivative instruments and other, net of zero tax	(201)	10,497	(912)	17,782
Comprehensive income	$ 92,856	$ 189,470	$ 209,440	$ 403,098

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ 0	$ 0	$ 0	$ 0
Unrealized gain (loss) on derivative instruments and other, tax	$ 0	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 232,690	$ 382,737
Depreciation, amortization and other impairment charges	466,813	381,949
Changes in working capital and other	313,685	175,086
Net cash provided by operating activities	1,013,188	939,772
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(413,596)	(418,561)
Proceeds from the disposition of property and equipment	28,056	4,627
Acquisition of businesses, net of cash acquired	(180,259)	(903,845)
Proceeds from divestiture of businesses, net of cash held in divested businesses	36,073	3,603
Other investing activities, net	(49,704)	1,397
Net cash used in investing activities	(579,430)	(1,312,779)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from bank borrowings and long-term debt	205,518	755,684
Repayments of bank borrowings and long-term debt	(115,089)	(40,706)
Payments for repurchases of ordinary shares	(259,658)	(331,690)
Net proceeds from issuance of ordinary shares	11,978	52,950
Other financing activities, net	(47,302)	(49,742)
Net cash (used in) provided by financing activities	(204,553)	386,496
Effect of exchange rates on cash and cash equivalents	20,321	(7,703)
Net increase in cash and cash equivalents	249,526	5,786
Cash and cash equivalents, beginning of period	1,607,570	1,628,408
Cash and cash equivalents, end of period	1,857,096	1,634,194
Non-cash investing & financing activity:
Unpaid purchases of property and equipment	70,092	82,024
Customer-related third party banking institution financing net settlement	$ 90,576	$ 0

ORGANIZATION OF THE COMPANY AND

ORGANIZATION OF THE COMPANY AND BASIS OF PRESENTATION	9 Months Ended
	Dec. 31, 2016
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. , formerly Flextronics International Ltd., ("Flex", or the "Company") was incorporated in the Republic of Singapore in May 1990. The Company's operations have expanded over the years through a combination of organic growth and acquisitions. The Company is a globally-recognized leading provider of innovative design, engineering, manufacturing, and supply chain services and solutions that span from Sketch-to-Scale tm ; from conceptual sketch to full-scale production. The Company designs, builds, ships and services complete packaged consumer electronics and industrial products for original equipment manufacturers ("OEMs"), through its activities in the following segments: High Reliability Solutions ("HRS"), which is comprised of its medical business including consumer health, digital health, disposables, drug delivery, diagnostics, life sciences and imaging equipment; automotive business, including vehicle electronics, connectivity, and clean technologies; and defense and aerospace businesses, focused on commercial aviation, defense and military; Consumer Technologies Group ("CTG"), which includes its mobile devices business, including smart phones; consumer electronics business, including connected living, wearable electronics including digital sport, game consoles, and connectivity devices; and high-volume computing business, including various supply chain solutions for notebook personal computers ("PC"), tablets, and printers; in addition, CTG group is expanding its business relationships to include supply chain optimization for non-electronics products such as shoes and clothing; Industrial and Emerging Industries ("IEI"), which is comprised of semiconductor and capital equipment, office solutions, household industrial and lifestyle, industrial automation and kiosks, energy and metering, and lighting; and Communications & Enterprise Compute ("CEC"), includes radio access base stations, remote radio heads, and small cells for wireless infrastructure; optical, routing, broadcasting, and switching products for the data and video networks; server and storage platforms for both enterprise and cloud-based deployments; next generation storage and security appliance products; and rack level solutions, converged infrastructure and software-defined product solutions. The Company's strategy is to provide customers with a full range of cost competitive, vertically integrated global supply chain solutions through which the Company can design, build, ship and service a complete packaged product for its OEM customers. This enables the Company's OEM customers to leverage the Company's supply chain solutions to meet their product requirements throughout the entire product life cycle. 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) and supply chain management software solutions and component product offerings (including rigid and flexible printed circuit boards and power adapters and chargers). Basis of Presentation 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, 2016 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 presentation have been included. Operating results for the three-month and nine-month periods ended December 31, 2016 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2017 . The first quarters for fiscal year 2017 and fiscal year 2016 ended on July 1, 2016 , which is comprised of 92 days in the period, and June 26, 2015 , which is comprised of 87 days in the period, respectively. The second quarters for fiscal year 2017 and fiscal year 2016 ended on September 30, 2016 and September 25, 2015 , which are comprised of 91 days in both periods, respectively. The Company's third quarters end on December 31 of each year, which are comprised of 92 days and 97 days for fiscal years 2017 and 2016, respectively. The accompanying unaudited condensed consolidated financial statements include the accounts of Flex and its majority-owned subsidiaries, after elimination of intercompany accounts and transactions. The Company consolidates its majority-owned subsidiaries and investments in entities in which the Company has a controlling interest. For the consolidated majority-owned subsidiaries in which the Company owns less than 100%, the Company recognizes a noncontrolling interest for the ownership of the noncontrolling owners. Noncontrolling interests are presented as a separate component of total shareholders' equity in the condensed consolidated balance sheets. The associated noncontrolling owners' interests are immaterial for all of the periods presented, and are included in interest and other, net in the condensed consolidated statements of operations. The Company has certain non-majority-owned equity investments in non-publicly traded companies that are accounted for using the equity method of accounting. The equity method of accounting is used when the Company has the ability to significantly influence the operating decisions of the issuer, or if the Company has an ownership percentage of a corporation equal to or generally greater than 20% but less than 50%, and for non-majority-owned investments in partnerships when generally greater than 5%. The equity in earnings (losses) of equity method investees are immaterial for all of the periods presented, and are included in interest and other, net in the condensed consolidated statements of operations. Recently Adopted Accounting Pronouncement In March 2016, the Financial Accounting Standards Board ("FASB") issued new guidance intended to reduce the cost and complexity of the accounting for share-based payments. The new guidance simplifies various aspects of the accounting for share-based payments including income tax effects, withholding requirements and forfeitures. The Company elected to early adopt this new guidance beginning in the first quarter of fiscal year 2017. The guidance eliminates additional paid in capital ("APIC") pools and requires companies to recognize all excess tax benefits and tax deficiencies in the income statement when the awards vest or are settled. It also addresses the presentation of excess tax benefits and employee taxes paid on the statement of cash flows. Prior to adoption, the Company elected to not deduct tax benefits for stock-based compensation awards on its tax returns, and accordingly, did not have any excess tax benefits or tax deficiencies upon adoption. The Company therefore determined that adoption of the new guidance had no impact on the condensed consolidated statement of operations and the condensed consolidated statement of cash flows. Further, the new guidance eliminates the requirement to estimate forfeitures and reduce stock compensation expense during the vesting period. Instead, companies can elect to account for actual forfeitures as they occur and record any previously unrecognized compensation expense for estimated forfeitures up to the period of adoption as a retrospective adjustment to beginning retained earnings. The Company has made the election to account for actual forfeitures as they occur starting in fiscal year 2017. After assessment, it was determined that the cumulative effect adjustment required under the new guidance was immaterial and therefore the Company did not record a retrospective adjustment. The Company finally determined that the adoption of this guidance did not have a significant impact on the consolidated financial position, results of operations and cash flows of the Company. Recently Issued Accounting Pronouncements In January 2017, the FASB issued new guidance that changes the definition of a business to assist entities with evaluating when a set of transferred assets and activities is a business. This guidance is effective for the Company beginning in the first quarter of fiscal year 2019, with early application permitted. The guidance may result in more asset acquisitions being accounted for as purchases of assets in lieu of business combinations. The Company intends to adopt the guidance when it becomes effective in the first quarter of fiscal year 2019. In October 2016, the FASB issued new guidance to amend the consolidation guidance on how a reporting entity that is the single decision maker of a variable interest entity ("VIE") should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. This guidance is effective for the Company beginning in the first quarter of fiscal year 2018, with early adoption permitted. The Company expects the new guidance will have an immaterial impact on its consolidated financial statements, and it intends to adopt the guidance when it becomes effective in the first quarter of fiscal year 2018. In October 2016, the FASB issued new guidance intended to improve the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. This guidance is effective for the Company beginning in the first quarter of fiscal year 2019, with early adoption permitted in the first interim period of fiscal year 2018. The Company intends to early adopt the new guidance starting in the first quarter of fiscal year 2018, with an expected immaterial impact on its consolidated financial statements. In August 2016, the FASB issued new guidance intended to address specific cash flow issues with the objective of reducing the existing diversity in practice. This guidance is effective for the Company beginning in the first quarter of fiscal year 2019, with early application permitted. The Company is currently assessing the impact of this update and the timing of adoption.

BALANCE SHEET ITEMS

BALANCE SHEET ITEMS	9 Months Ended
	Dec. 31, 2016
Balance Sheet Related Disclosures [Abstract]
BALANCE SHEET ITEMS	BALANCE SHEET ITEMS Inventories The components of inventories, net of applicable lower of cost or market write-downs, were as follows: As of December 31, 2016 As of March 31, 2016 (In thousands) Raw materials $ 2,399,270 $ 2,234,512 Work-in-progress 436,289 561,282 Finished goods 658,058 695,862 $ 3,493,617 $ 3,491,656 Goodwill and Other Intangible Assets The following table summarizes the activity in the Company’s goodwill account for each of its four segments during the nine-month period ended December 31, 2016 : HRS CTG IEI CEC Amount (In thousands) Balance, beginning of the year $ 439,336 $ 68,234 $ 322,803 $ 111,693 $ 942,066 Additions (1) — 39,791 17,727 — 57,518 Divestitures (2) (1,787 ) — (2,640 ) — (4,427 ) Purchase accounting adjustments (3) 794 — — — 794 Foreign currency translation adjustments (4) (30,233 ) — — — (30,233 ) Balance, end of the period $ 408,110 $ 108,025 $ 337,890 $ 111,693 $ 965,718 (1) The goodwill generated from the Company’s business combinations completed during the nine-month period ended December 31, 2016 is primarily related to value placed on the acquired employee workforces, service offerings and capabilities of the acquired businesses. The goodwill is not deductible for income tax purposes. See note 12 for additional information. (2) During the nine-month period ended December 31, 2016 , the Company disposed of two non-strategic businesses within the IEI and HRS segments, and recorded an aggregate reduction of goodwill of $4.4 million accordingly, which is included in the loss on sale recorded in other charges, net on the condensed consolidated statement of operations. (3) Includes adjustments to estimates resulting from the finalization of management's review of the valuation of assets acquired and liabilities assumed through certain business combinations completed in a period subsequent to the respective acquisition. These adjustments were not individually, nor in the aggregate, significant to the Company. (4) During the nine-month period ended December 31, 2016 , the Company recorded $30.2 million of foreign currency translation adjustments primarily related to the goodwill associated with the acquisition of Mirror Controls International ("MCi"), as the U.S. Dollar strengthened against the Euro. The components of acquired intangible assets are as follows: As of December 31, 2016 As of March 31, 2016 Gross Accumulated Net Gross Accumulated Net (In thousands) Intangible assets: Customer-related intangibles $ 254,991 $ (96,655 ) $ 158,336 $ 223,046 $ (66,473 ) $ 156,573 Licenses and other intangibles 279,740 (66,473 ) 213,267 285,053 (37,872 ) 247,181 Total $ 534,731 $ (163,128 ) $ 371,603 $ 508,099 $ (104,345 ) $ 403,754 The gross carrying amounts of intangible assets are removed when fully amortized. During the nine-month period ended December 31, 2016 , the total value of intangible assets increased primarily as a result of three acquisitions. The estimated future annual amortization expense for intangible assets is as follows: Fiscal Year Ending March 31, Amount (In thousands) 2017 (1) $ 17,977 2018 66,810 2019 60,038 2020 51,054 2021 46,953 Thereafter 128,771 Total amortization expense $ 371,603 ____________________________________________________________ (1) Represents estimated amortization for the remaining three -month period ending March 31, 2017 . Other Current Assets Other current assets include approximately $668.9 million and $501.1 million as of December 31, 2016 and March 31, 2016 , respectively, for the deferred purchase price receivable from the Company's Global and North American Asset-Backed Securitization programs. See note 10 for additional information. Included in other current assets, as of March 31, 2016 , was the remaining value of certain assets purchased on behalf of a customer and financed by a third party banking institution in the amount of $83.6 million , the nature of which is more fully discussed in Note 17, "Business and Asset Acquisitions" to the Company's Form 10-K for the year ended March 31, 2016 . During the three-month period ended December 31, 2016, the Company entered into an agreement with the third party banking institution and the customer granted a waiver of any amounts owed under the financing arrangement which allowed for a net settlement of the related asset and liability. Other Assets During the third quarter of fiscal year 2017, the Company formed a joint venture with RIB Software AG, a provider of technology for the construction industry. This joint venture will offer a fully integrated enterprise software platform for building and housing projects. The Company contributed $60.0 million for a non-controlling interest in this joint venture, and the amount is included in other assets on the condensed consolidated balance sheet using the equity method of accounting. The equity in earnings related to this investment is immaterial to the Company's condensed consolidated statement of operations for the three-month and nine-month periods ended December 31, 2016, and is included in interest and other, net. Other Current Liabilities Other current liabilities include customer working capital advances of $228.0 million and $253.7 million , customer-related accruals of $494.5 million and $479.5 million , and deferred revenue of $311.3 million and $332.3 million as of December 31, 2016 and March 31, 2016 , respectively. The customer working capital advances are not interest-bearing, do not have fixed repayment dates and are generally reduced as the underlying working capital is consumed in production. As of March 31, 2016, other current liabilities also include the outstanding balance due to the third party banking institution related to the financed equipment discussed above of $122.0 million . As discussed above, during the three-month period ended December 31, 2016, the Company entered into an agreement with the third party banking institution and the customer granted a waiver of any amounts owed under the financing arrangement which provided for a net settlement of the outstanding balance of approximately $90.6 million with the related asset.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
	Dec. 31, 2016
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION The Company's primary plan used for granting equity compensation awards is the 2010 Equity Incentive Plan (the "2010 Plan"). During fiscal year 2016, in conjunction with the acquisition of NEXTracker Inc. ("NEXTracker"), the Company assumed all of the outstanding, unvested share bonus awards and outstanding, unvested options to purchase shares of common stock of NEXTracker, and converted all of these shares into Flex awards. As a result, the Company now offers the 2014 NEXTracker Equity Incentive Plan (the "NEXTracker Plan"). Further, during the first quarter of fiscal year 2017, in conjunction with an immaterial acquisition, the Company assumed all of the outstanding, unvested options to purchase shares of common stock of the acquiree, and converted all of these shares into Flex awards. As a result, the Company now offers an additional equity compensation plan, the BrightBox Technologies 2013 Plan (the "BrightBox Plan"). The following table summarizes the Company’s share-based compensation expense: Three-Month Periods Ended Nine-Month Periods Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 (In thousands) Cost of sales $ 2,437 $ 2,407 $ 7,506 $ 6,440 Selling, general and administrative expenses 18,344 21,826 59,805 50,119 Total share-based compensation expense $ 20,781 $ 24,233 $ 67,311 $ 56,559 The 2010 Equity Incentive Plan Total unrecognized compensation expense related to share options under the 2010 Plan is not significant. As of December 31, 2016 , the number of options outstanding and exercisable under the 2010 Plan was 0.2 million each, and at a weighted-average exercise price of $8.97 per share and $8.93 per share, respectively. During the nine-month period ended December 31, 2016 , the Company granted 6.3 million unvested share bonus awards under the 2010 Plan. Of this amount, approximately 5.4 million unvested share bonus awards have an average grant date price of $12.93 per share. Further, approximately 0.7 million of these unvested shares represents 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 contingent on certain market conditions was estimated to be $17.57 per award and was calculated using a Monte Carlo simulation. The remaining 0.2 million of unvested share bonus awards under the 2010 Plan have an average grant date price of $12.82 per share and represents the target amount of grants made to certain executive officers whereby vesting is contingent on meeting certain free cash flow targets. The number of shares under the 2010 Plan, contingent on market conditions that ultimately will vest range from zero up to a maximum of 1.4 million based on a measurement of the percentile rank of the Company’s total shareholder return over a certain specified period against the Standard and Poor’s (“S&P”) 500 Composite Index and will cliff vest after a period of three years, if such market conditions have been met. The number of shares under the 2010 Plan, contingent on free cash flow targets that ultimately will vest range from zero up to a maximum of 0.4 million of the target payment based on a measurement of cumulative three -year increase of free cash flow from operations of the Company, and will cliff vest after a period of three years. As of December 31, 2016 , approximately 15.8 million unvested share bonus awards under the 2010 Plan were outstanding, of which vesting for a targeted amount of 2.3 million is contingent primarily on meeting certain market conditions. The number of shares that will ultimately be issued can range from zero to 4.6 million based on the achievement levels of the respective conditions. During the nine -month period ended December 31, 2016 , 3.5 million shares under the 2010 Plan vested in connection with the share bonus awards with market conditions granted in fiscal year 2014. As of December 31, 2016 , total unrecognized compensation expense related to unvested share bonus awards under the 2010 Plan is $139.2 million , and will be recognized over a weighted-average remaining vesting period of 2.6 years. Approximately $22.6 million of the total unrecognized compensation cost, is related to awards under the 2010 Plan whereby vesting is contingent on meeting certain market conditions. The 2014 NEXTracker Equity Incentive Plan All shares previously granted under the NEXTracker plan are the result of the Company's conversion of all outstanding, unvested shares of NEXTracker into unvested shares of the Company, as part of the acquisition. Therefore, no additional share options or share bonus awards were granted by the Company during the nine-month period ended December 31, 2016 . As of December 31, 2016 , total unrecognized compensation expense related to share options under the NEXTracker Plan is $9.2 million , and will be recognized over a weighted-average remaining vesting period of 2.1 years. As of December 31, 2016 , the number of options outstanding and exercisable was 1.8 million and 0.4 million , respectively, at a weighted-average exercise price of $3.54 per share and $4.48 per share, respectively. As of December 31, 2016 , approximately 1.6 million unvested share bonus awards were outstanding. The total unrecognized compensation expense related to unvested share bonus awards under the NEXTracker Plan is $10.7 million , and will be recognized over a weighted-average remaining vesting period of 1.8 years. The BrightBox Technologies 2013 Plan During the first quarter of fiscal year 2017, the Company granted 0.2 million share options under the BrightBox Plan, at an average grant date fair value price of $11.99 per share, and with a vesting period of three years from the vesting commencement date. All shares granted under the BrightBox plan are the result of the Company's conversion of all outstanding, unvested shares of BrightBox into unvested shares of the Company, as part of the acquisition. No additional grants will be made out of this plan in the future. As of December 31, 2016 , total unrecognized compensation expense related to share options under the BrightBox Plan is $1.5 million , and will be recognized over a weighted-average remaining vesting period of 2.4 years. As of December 31, 2016 , the number of options outstanding was 0.2 million , at a weighted-average exercise price of $0.51 per share. No options under this plan were exercisable as of December 31, 2016 .

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table reflects the 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 Ltd. : Three-Month Periods Ended Nine-Month Periods Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 (In thousands, except per share amounts) Net income $ 129,469 $ 148,910 $ 232,690 $ 382,737 Shares used in computation: Weighted-average ordinary shares outstanding 539,638 554,919 542,780 561,070 Basic earnings per share $ 0.24 $ 0.27 $ 0.43 $ 0.68 Diluted earnings per share: Net income $ 129,469 $ 148,910 $ 232,690 $ 382,737 Shares used in computation: Weighted-average ordinary shares outstanding 539,638 554,919 542,780 561,070 Weighted-average ordinary share equivalents from stock options and awards (1) (2) 5,384 6,077 5,592 7,856 Weighted-average ordinary shares and ordinary share equivalents outstanding 545,022 560,996 548,372 568,926 Diluted earnings per share $ 0.24 $ 0.27 $ 0.42 $ 0.67 ____________________________________________________________ (1) Options to purchase ordinary shares of 0.5 million and 2.1 million during the three -month periods ended December 31, 2016 and December 31, 2015 , respectively, and share bonus awards of 0.1 million for the three-month period ended December 31, 2015 were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted-average ordinary share equivalents. An immaterial amount of anti-dilutive share bonus awards was excluded for the three-month period ended December 31, 2016 . (2) Options to purchase ordinary shares of 0.7 million and 1.2 million during the nine-month periods ended December 31, 2016 and December 31, 2015 , respectively, and share bonus awards of 3.5 million for the nine-month period ended December 31, 2015 were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted-average ordinary share equivalents. An immaterial amount of anti-dilutive share bonus awards was excluded for the nine-month period ended December 31, 2016 .

BANK BORROWINGS AND LONG TERM D

BANK BORROWINGS AND LONG TERM DEBT	9 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
BANK BORROWINGS AND LONG TERM DEBT	BANK BORROWINGS AND LONG TERM DEBT Bank borrowings and long-term debt are as follows: As of December 31, 2016 As of March 31, 2016 (In thousands) Term Loan, including current portion, due in installments through March 2019 $ 525,000 $ 547,500 4.625% Notes due February 2020 500,000 500,000 Term Loan, including current portion, due in installments through November 2021 700,000 577,500 5.000% Notes due February 2023 500,000 500,000 4.75% Notes due June 2025 595,879 595,589 Other 62,448 71,317 Debt issuance costs (16,487 ) (17,351 ) Total $ 2,866,840 $ 2,774,555 The weighted-average interest rates for the Company’s long-term debt were 3.5% as of December 31, 2016 and March 31, 2016 . On August 30, 2013, the Company entered into a $600 million term loan agreement due August 30, 2018. On November 30, 2016, the Company entered into a new arrangement to extend the maturity date of the agreement from August 30, 2018 to November 30, 2021, and borrowed an incremental amount of $130 million under this term loan, thereby increasing the total amount under the term loan to $700 million . This loan is repayable in quarterly installments of $4.1 million , which will commence October 31, 2017 and continue through September 30, 2021, with the remaining amount due at maturity. Borrowings under this term loan bear interest, at the Company's option, either at (i) LIBOR plus the applicable margin for LIBOR loans ranging between 1.125% and 2.125% , based on the Company's credit ratings or (ii) the base rate (the greatest of the prime rate in effect on each day as published in The Wall Street Journal, the federal funds rate plus 0.5% and LIBOR for a one-month interest period plus 1.00% ) plus an applicable margin ranging between 0.125% and 1.125% , based on the Company's credit rating. This term loan is unsecured, and contains customary restrictions on the Company's and its subsidiaries' ability to (i) incur certain debt, (ii) make certain investments, (iii) make certain acquisitions of other entities, (iv) incur liens, (v) dispose of assets, (vi) make non-cash distributions to shareholders, and (vii) engage in transactions with affiliates. These covenants are subject to a number of exceptions and limitations. This term loan agreement also requires that the Company maintain a maximum ratio of total indebtedness to EBITDA (earnings before interest expense, taxes, depreciation and amortization), and a minimum interest coverage ratio, as defined therein, during its term; provided that the requirement to maintain the minimum interest coverage ratio may be suspended in certain circumstances. As of December 31, 2016 , the Company was in compliance with the covenants under this term loan agreement. Repayment of the Company’s long term debt outstanding as of December 31, 2016 is as follows: Fiscal Year Ending March 31, Amount (In thousands) 2017 (1) $ 11,579 2018 58,504 2019 486,317 2020 517,567 2021 64,648 Thereafter 1,744,712 Total $ 2,883,327 _________________________________________________________ (1) Represents scheduled repayment for the remaining three -month period ending March 31, 2017 . On January 23, 2017, the Company entered into a €100 million (approximately $105.4 million as of December 31, 2016), 5 -year, unsecured, term-loan agreement due January 2, 2022.

INTEREST AND OTHER, NET

INTEREST AND OTHER, NET	9 Months Ended
	Dec. 31, 2016
INTEREST AND OTHER, NET
INTEREST AND OTHER, NET	INTEREST AND OTHER, NET During the three-month and nine-month periods ended December 31, 2016 , the Company recognized interest expense of $26.6 million and $79.9 million , respectively, on its debt obligations outstanding during the periods. During the three-month and nine-month periods ended December 31, 2015 , the Company recognized interest expense of $26.2 million and $71.4 million , respectively.

OTHER CHARGES, NET

OTHER CHARGES, NET	9 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
OTHER CHARGES, NET	OTHER CHARGES, NET The Company incurred expenses of $44.4 million and $46.3 million during the three-month and nine-month periods ended December 31, 2015 , respectively, primarily due to $26.8 million loss on disposition of a non-strategic Western European manufacturing facility, which included a non-cash foreign currency translation loss of $25.3 million , and $21.8 million from the impairment of a non-core investment. These were offset by currency translation gains of $4.2 million during the three-month and nine-month periods ended December 31, 2015 .

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	9 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedges, Assets [Abstract]
FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTS Foreign Currency Contracts The Company enters into forward contracts and foreign currency swap contracts primarily to manage the foreign currency risk associated with monetary accounts and anticipated foreign currency denominated transactions. The Company hedges committed exposures and does not engage in speculative transactions. As of December 31, 2016 , the aggregate notional amount of the Company’s outstanding foreign currency contracts was $4.8 billion as summarized below: Foreign Currency Amount Notional Contract Value in USD Currency Buy Sell Buy Sell (In thousands) Cash Flow Hedges CNY 1,037,000 — $ 148,969 $ — EUR 36,268 56,358 37,693 64,046 HUF 16,053,300 — 54,006 — ILS 86,441 — 22,413 — INR 1,314,549 — 19,100 — MXN 1,775,000 — 85,636 — MYR 139,000 9,000 31,013 2,008 RON 95,661 — 21,901 — Other N/A N/A 34,172 12,223 454,903 78,277 Other Foreign Currency Contracts BRL — 443,000 — 134,946 CNY 4,319,620 2,035,392 620,177 292,391 DKK 187,400 157,200 26,201 21,979 EUR 874,957 1,385,620 913,218 1,444,927 GBP 35,110 65,145 42,969 79,940 HUF 29,285,732 24,552,611 98,522 82,599 ILS 62,640 59,420 16,241 15,407 INR 4,040,788 677,800 59,242 10,000 MXN 1,718,039 1,155,529 82,888 55,749 MYR 383,028 89,800 85,459 20,036 PLN 122,243 70,681 28,864 16,689 SGD 44,800 11,150 30,846 7,677 Other N/A N/A 54,729 67,304 2,059,356 2,249,644 Total Notional Contract Value in USD $ 2,514,259 $ 2,327,921 As of December 31, 2016 , the fair value of the Company’s short-term foreign currency contracts was not material and is 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 interest and other, net in the condensed consolidated statements of operations. As of December 31, 2016 and March 31, 2016 , 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. These deferred losses were $3.6 million as of December 31, 2016 , and are expected to be recognized primarily as a component of cost of sales in the condensed consolidated statements of operations primarily over the next twelve-month period. The gains and losses recognized in earnings due to hedge ineffectiveness were not material for all fiscal periods presented and are included as a component of interest and other, net in the condensed consolidated statements of operations. The following table presents the fair value of the Company’s derivative instruments utilized for foreign currency risk management purposes: Fair Values of Derivative Instruments Asset Derivatives Liability Derivatives Fair Value Fair Value Balance Sheet December 31, March 31, Balance Sheet December 31, March 31, (In thousands) Derivatives designated as hedging instruments Foreign currency contracts Other current assets $ 7,681 $ 5,510 Other current liabilities $ 9,933 $ 2,446 Derivatives not designated as hedging instruments Foreign currency contracts Other current assets $ 20,254 $ 17,138 Other current liabilities $ 12,995 $ 18,645 The Company has financial instruments subject to master netting arrangements, which provides for the net settlement of all contracts with a single counterparty. The Company does not offset fair value amounts for assets and liabilities recognized for derivative instruments under these arrangements, and 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.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Dec. 31, 2016
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, 2016 December 31, 2015 Unrealized loss on Foreign currency Total Unrealized gain Foreign currency Total (In thousands) Beginning balance $ (42,233 ) $ (80,319 ) $ (122,552 ) $ (60,981 ) $ (139,723 ) $ (200,704 ) Other comprehensive gain (loss) before reclassifications (1,354 ) (33,770 ) (35,124 ) 5,941 9,224 15,165 Net (gains) losses reclassified from accumulated other comprehensive loss 1,153 (2,642 ) (1,489 ) 4,556 20,839 25,395 Net current-period other comprehensive gain (loss) (201 ) (36,412 ) (36,613 ) 10,497 30,063 40,560 Ending balance $ (42,434 ) $ (116,731 ) $ (159,165 ) $ (50,484 ) $ (109,660 ) $ (160,144 ) Nine-Month Periods Ended December 31, 2016 December 31, 2015 Unrealized loss on Foreign currency Total Unrealized gain Foreign currency Total (In thousands) Beginning balance $ (41,522 ) $ (94,393 ) $ (135,915 ) $ (68,266 ) $ (112,239 ) $ (180,505 ) Other comprehensive loss before reclassifications (1,031 ) (19,471 ) (20,502 ) (8,478 ) (18,412 ) (26,890 ) Net (gains) losses reclassified from accumulated other comprehensive loss 119 (2,867 ) (2,748 ) 26,260 20,991 47,251 Net current-period other comprehensive gain (loss) (912 ) (22,338 ) (23,250 ) 17,782 2,579 20,361 Ending balance $ (42,434 ) $ (116,731 ) $ (159,165 ) $ (50,484 ) $ (109,660 ) $ (160,144 ) Net losses reclassified from accumulated other comprehensive loss during the nine -month period ended December 31, 2015 relating to derivative instruments and other includes $24.7 million attributable to the Company’s cash flow hedge instruments which were recognized as a component of cost of sales in the condensed consolidated statement of operations. During the three-month ended December 31, 2015 , the Company recognized a loss of $26.8 million in connection with the disposition of a non-strategic Western European manufacturing facility, which included a $25.3 million cumulative foreign currency translation loss. This loss was offset by the release of certain cumulative foreign currency translation gains of $4.2 million , which has been reclassified from accumulated other comprehensive loss during the period and is included in other charges, net in the condensed consolidated statement of operations. Substantially all unrealized losses relating to derivative instruments and other, reclassified from accumulated other comprehensive loss for the three -month and nine-month periods ended December 31, 2015 , was recognized as a component of cost of sales in the condensed consolidated statement of operations, which primarily relate to the Company’s foreign currency contracts accounted for as cash flow hedges.

TRADE RECEIVABLES SECURITIZATIO

TRADE RECEIVABLES SECURITIZATION	9 Months Ended
	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
TRADE RECEIVABLES SECURITIZATION	TRADE RECEIVABLES SECURITIZATION The Company sells trade receivables under two asset-backed securitization programs and under an accounts receivable factoring program. Asset-Backed Securitization Programs The Company continuously sells designated pools of trade receivables under its Global Asset-Backed Securitization Agreement (the “Global Program”) and its North American Asset-Backed Securitization Agreement (the “North American Program,” collectively, the “ABS Programs”) to affiliated special purpose entities, each of which in turn sells 100% of the receivables to unaffiliated financial institutions. These programs allow the operating subsidiaries to receive a cash payment and a deferred purchase price receivable for sold receivables. Following the transfer of the receivables to the special purpose entities, the transferred receivables are isolated from the Company and its affiliates, and upon the sale of the receivables from the special purpose entities to the unaffiliated financial institutions, effective control of the transferred receivables is passed to the unaffiliated financial institutions, which has the right to pledge or sell the receivables. Although the special purpose entities are consolidated by the Company, they are separate corporate entities and their assets are available first to satisfy the claims of their creditors. The investment limits set by the financial institutions are $850.0 million for the Global Program, of which $750.0 million is committed and $100.0 million is uncommitted, and $250.0 million for the North American Program, of which $210.0 million is committed and $40.0 million is uncommitted. Both programs require a minimum level of deferred purchase price receivable to be retained by the Company in connection with the sales. The Company services, administers and collects the receivables on behalf of the special purpose entities and receives a servicing fee of 0.1% to 0.5% of serviced receivables per annum. Servicing fees recognized during the three-month and nine-month periods ended December 31, 2016 and December 31, 2015 were not material and are included in interest and other, net within the condensed consolidated statements of operations. As the Company estimates the fee it receives in return for its obligation to service these receivables is at fair value, no servicing assets and liabilities are recognized. As of December 31, 2016 , approximately $1.7 billion of accounts receivable had been sold to the special purpose entities under the ABS Programs for which the Company had received net cash proceeds of approximately $1.0 billion and deferred purchase price receivables of approximately $668.9 million . As of March 31, 2016 , approximately $1.4 billion of accounts receivable had been sold to the special purpose entities for which the Company had received net cash proceeds of $880.8 million and deferred purchase price receivables of approximately $501.1 million . The portion of the purchase price for the receivables which is not paid by the unaffiliated financial institutions in cash is a deferred purchase price receivable, which is paid to the special purpose entity as payments on the receivables are collected from account debtors. The deferred purchase price receivable represents a beneficial interest in the transferred financial assets and is recognized at fair value as part of the sale transaction. The deferred purchase price receivables are included in other current assets as of December 31, 2016 and March 31, 2016 , and were carried at the expected recovery amount of the related receivables. The difference between the carrying amount of the receivables sold under these programs and the sum of the cash and fair value of the deferred purchase price receivables received at time of transfer is recognized as a loss on sale of the related receivables and recorded in interest and other, net in the condensed consolidated statements of operations and were immaterial for all periods presented. As of December 31, 2016 and March 31, 2016 , the accounts receivable balances that were sold under the ABS Programs were removed from the condensed consolidated balance sheets and the net cash proceeds received by the Company were included as cash provided by operating activities in the condensed consolidated statements of cash flows. For the nine-month periods ended December 31, 2016 and December 31, 2015 , cash flows from sales of receivables under the ABS Programs consisted of approximately $4.2 billion and $3.9 billion , for transfers of receivables, respectively (of which approximately $315.1 million and $355.1 million , respectively, represented new transfers and the remainder proceeds from collections reinvested in revolving-period transfers). The following table summarizes the activity in the deferred purchase price receivables account: Three-Month Periods Ended Nine-Month Periods Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 (In thousands) Beginning balance $ 461,544 $ 537,619 $ 501,097 $ 600,672 Transfers of receivables 919,766 920,370 2,442,490 2,671,095 Collections (712,392 ) (923,294 ) (2,274,669 ) (2,737,072 ) Ending balance $ 668,918 $ 534,695 $ 668,918 $ 534,695 Trade Accounts Receivable Sale Programs The Company also sold accounts receivables to certain third-party banking institutions. The outstanding balance of receivables sold and not yet collected was approximately $209.5 million and $339.1 million as of December 31, 2016 and March 31, 2016 , respectively. For the nine-month periods ended December 31, 2016 and December 31, 2015 , total accounts receivable sold to certain third party banking institutions was approximately $1.0 billion and $1.8 billion , respectively. The receivables that were sold were removed from the condensed consolidated balance sheets and the cash received is reflected as cash provided by operating activities in the condensed consolidated statements of cash flows.

FAIR VALUE MEASUREMENT OF ASSET

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES	9 Months Ended
	Dec. 31, 2016
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. 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 for the most part included in other noncurrent assets on the condensed consolidated balance sheets and primarily include investments in equity securities that are valued using active market prices. 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 are comprised of bank 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. The Company’s deferred compensation plan assets also 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 level 2 in the fair value hierarchy. 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 in connection with its business acquisitions, which is measured at fair value based on certain internal models and unobservable inputs. During the three-month period ended December 31, 2015 , the Company accrued $81.0 million of contingent consideration related to the acquisition of NEXTracker on the date of acquisition. The fair value of the liability was estimated using a simulation-based measurement technique with significant inputs that are not observable in the market and thus represents a level 3 fair value measurement. The significant inputs in the fair value measurement not supported by market activity included the Company's probability assessments of expected future revenue during the earn-out period and associated volatility, appropriately discounted considering the uncertainties associated with the obligation, and calculated in accordance with the terms of the merger agreement. Significant decreases in expected revenue during the earn-out period, or significant increases in the discount rate or volatility in isolation would result in lower fair value estimates. The interrelationship between these inputs is not considered significant. During the three-month period ended December 31, 2016 , the Company paid $40.6 million of the total contingent consideration following the first year's targets achievement in accordance with the terms of the merger agreement, which is included in other financing activities, net, in the condensed consolidated statements of cash flows. The following table summarizes the activities related to contingent consideration: Three-Month Periods Ended Nine-Month Periods Ended December 31, December 31, December 31, December 31, (In thousands) Beginning balance $ 75,614 $ 4,500 $ 73,423 $ 4,500 Additions to accrual — 81,000 — 81,000 Payments (40,555 ) — (42,776 ) — Fair value adjustments (6,997 ) 4,000 (2,585 ) 4,000 Ending balance $ 28,062 $ 89,500 $ 28,062 $ 89,500 The Company values deferred purchase price receivables relating to its asset-backed securitization program based on a discounted cash flow analysis using unobservable inputs (i.e., level 3 inputs), which are primarily risk free interest rates adjusted for the credit quality of the underlying creditor. Due to its high credit quality and short term maturity, the fair value approximates carrying value. Significant increases in either of the major unobservable inputs (credit spread, risk free interest rate) in isolation would result in lower fair value estimates, however the impact is not meaningful. The interrelationship between these inputs is also insignificant. Refer to note 10 for a reconciliation of the change in the deferred purchase price receivable during the three-month and nine-month periods ended December 31, 2016 and December 31, 2015 . There were no transfers between levels in the fair value hierarchy during the three-month and nine-month periods ended December 31, 2016 and December 31, 2015 . 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: Fair Value Measurements as of December 31, 2016 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet) $ — $ 751,027 $ — $ 751,027 Deferred purchase price receivable (Note 10) — — 668,918 668,918 Foreign exchange contracts (Note 8) — 27,935 — 27,935 Deferred compensation plan assets: 0 Mutual funds, money market accounts and equity securities 6,686 50,522 — 57,208 Liabilities: 0 Foreign exchange contracts (Note 8) $ — $ (22,928 ) $ — $ (22,928 ) Contingent consideration in connection with business acquisitions — — (28,062 ) (28,062 ) Fair Value Measurements as of March 31, 2016 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet) $ — $ 1,074,132 $ — $ 1,074,132 Deferred purchase price receivable (Note 10) — — 501,097 501,097 Foreign exchange contracts (Note 8) — 22,648 — 22,648 Deferred compensation plan assets: 0 Mutual funds, money market accounts and equity securities 9,228 40,556 — 49,784 Liabilities: 0 Foreign exchange contracts (Note 8) $ — $ (21,091 ) $ — $ (21,091 ) Contingent consideration in connection with business acquisitions — — (73,423 ) (73,423 ) Other financial instruments The following table presents the Company’s debt not carried at fair value: As of December 31, 2016 As of March 31, 2016 Carrying Fair Carrying Fair Fair Value (In thousands) Term Loan, including current portion, due in installments through March 2019 525,000 524,675 547,500 542,709 Level 1 4.625% Notes due February 2020 500,000 525,740 500,000 524,735 Level 1 Term Loan, including current portion, due in installments through November 2021 (1) 700,000 696,941 577,500 573,533 Level 1 5.000% Notes due February 2023 500,000 532,810 500,000 507,500 Level 1 4.750% Notes due June 2025 595,879 639,288 595,589 604,926 Level 1 Total $ 2,820,879 $ 2,919,454 $ 2,720,589 $ 2,753,403 (1) On November 30, 2016, the Company entered into a new arrangement to extend the maturity date of the agreement from August 30, 2018 to November 30, 2021. Refer to note 5 for further details of the arrangement. The Term Loans and Notes due February 2020, February 2023 and June 2025 are valued based on broker trading prices in active markets. The Company values its outstanding €49.7 million (approximately $52.3 million as of December 31, 2016 ), 5 -year, unsecured, term-loan due September 30, 2020 based on the current market rate, and as of December 31, 2016 , the carrying amount approximates fair value.

BUSINESS AND ASSET ACQUISITIONS

BUSINESS AND ASSET ACQUISITIONS & DIVESTITURES	9 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
BUSINESS AND ASSET ACQUISITIONS & DIVESTITURES	BUSINESS AND ASSET ACQUISITIONS & DIVESTITURES Business and asset acquisitions During the nine-month period ended December 31, 2016 , the Company completed three acquisitions that were not individually, nor in the aggregate, significant to the consolidated financial position, results of operations and cash flows of the Company. Most notably is the Company’s acquisition of two manufacturing and development facilities from Bose Corporation (“Bose”), a global leader in audio systems. The acquisition expanded the Company’s capabilities in the audio market and is included in the CTG segment. The other acquired businesses strengthen the Company's capabilities in the energy market within the IEI segment. The Company paid a total of $179.7 million , net of cash acquired, of which $ 161.9 million , net of $17.8 million of cash acquired is related to the Bose acquisition. The Company acquired primarily $69.8 million of inventory, $66.0 million of property and equipment, recorded goodwill of $57.5 million and intangible assets of $44.9 million substantially related to Bose. The intangibles will amortize over a weighted-average estimated useful life of 7.4 years. In connection with these acquisitions, the Company assumed $60.8 million in other liabilities including additional consideration of $28.0 million payable to Bose by the end of fiscal year 2017. Further, the equity incentive plan of one of the acquirees was assumed as part of the acquisition. The results of operations for each of the acquisitions completed in fiscal year 2017 , including the Bose acquisition, were included in the Company’s consolidated financial results beginning on the date of each acquisition, and the total amount of net income and revenue of the acquisitions, collectively, were immaterial to the Company's consolidated financial results for the three-month and nine-month periods ended December 31, 2016 . Pro-forma results of operations for the acquisitions completed in fiscal year 2017 have not been presented because the effects, individually and in the aggregate, were not material to the Company’s consolidated financial results for all periods presented. The total amount of net income for the acquisitions completed in fiscal year 2016, collectively, were $29.5 million and $34.4 million , for the three-month and nine-month periods ended December 31, 2015, respectively. The total amount of revenue of these acquisitions, collectively, was not material to the Company’s consolidated financial results for the three-month and nine-month periods ended December 31, 2015 . On a pro-forma basis, and assuming the fiscal year 2016 acquisitions occurred on the first day of that fiscal year, or April 1, 2015, the Company's net income would have been estimated to be $111.4 million and $322.0 million for the three-month and nine-month periods ended December 31, 2015 , respectively. Pro-forma revenue for the acquisitions in fiscal year 2016 has not been presented because the effect, collectively, was not material to the Company’s consolidated revenues for all periods presented. The Company is in the process of evaluating the fair value of the assets and liabilities related to business combinations completed during fiscal year 2017. 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 acquisition. Changes to amounts recorded as assets and liabilities may result in a corresponding adjustment to goodwill during the respective measurement periods. Divestitures During the nine-month period ended December 31, 2016 , the Company disposed of two non-strategic businesses within the HRS and IEI segments. The Company received $33.0 million of proceeds, net of an immaterial amount of cash held in one of the divested businesses. The property and equipment and various other assets sold, and liabilities transferred were not material to the Company's consolidated financial results. The loss on disposition was not material to the Company’s consolidated financial results, and is included in other charges, net in the condensed consolidated statements of operations for the nine-month period ended December 31, 2016 .

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation and other legal matters One of the Company's Brazilian subsidiaries has received several related assessments for certain sales and import taxes. The first two tax assessments were received in fiscal year 2014 and fiscal year 2016 relating to calendar year 2010 for an alleged total amount of 109 million Brazilian reals (approximately USD $34 million based on the exchange rate as of December 31, 2016 ). These two assessments are in various stages of the review process at the administrative level. During the third quarter of fiscal year 2017, the same Brazilian subsidiary received a third assessment related to calendar year 2011 taxes of an additional 181 million Brazilian reals (approximately USD $56 million based on the exchange rate as of December 31, 2016 ). The Company plans to continue to vigorously oppose all of these assessments, as well as any future assessments. The Company is unable to determine the likelihood of an unfavorable outcome of these assessments against its Brazilian subsidiary. While the Company believes there is no legal basis for the alleged liabilities, due to the complexities and uncertainty surrounding the administrative-review and judicial processes in Brazil and the nature of the claims, it is unable to reasonably estimate a range of loss for these assessments or any future assessments that are reasonably possible. The Company does not expect final judicial determination on any of these claims for several years. During fiscal year 2015, one of the Company's non-operating Brazilian subsidiaries received an assessment of approximately USD $100 million related to income and social contribution taxes, interest and penalties. During the first quarter of fiscal year 2017, the Company received a final favorable judgment in the judicial process reversing the assessment and the case is now closed. As the Company had previously determined there was no legal basis for the assessment, no adjustment was required to be recorded during fiscal year 2017. In addition, 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 condensed consolidated balance sheets, would not be material to the financial statements as a whole.

SHARE REPURCHASES

SHARE REPURCHASES	9 Months Ended
	Dec. 31, 2016
Treasury Stock, Number of Shares and Restriction Disclosures [Abstract]
SHARE REPURCHASES	SHARE REPURCHASES During the three-month and nine-month periods ended December 31, 2016 , the Company repurchased 5.2 million shares at an aggregate purchase price of $75.0 million , and 19.5 million shares at an aggregate purchase price of $255.9 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 $500 million in accordance with the share repurchase mandate approved by the Company’s shareholders at the date of the most recent Annual General Meeting held on August 24, 2016 . As of December 31, 2016 , shares in the aggregate amount of $375.2 million were available to be repurchased under the current plan.

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING The Company has four reportable segments: HRS, CTG, IEI, and CEC. These segments are determined based on several factors, including the nature of products and services, the nature of production processes, customer base, delivery channels and similar economic characteristics. Refer to note 1 for a description of the various product categories manufactured under each of these segments. 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, restructuring charges, distressed customer charges, other charges (income), net and interest and other, net. Selected financial information by segment is as follows: Three-Month Periods Ended Nine-Month Periods Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 (In thousands) Net sales: Communications & Enterprise Compute $ 2,102,321 $ 2,469,099 $ 6,400,233 $ 6,640,626 Consumer Technologies Group 1,848,970 2,057,850 4,827,488 5,633,903 Industrial & Emerging Industries 1,140,366 1,214,225 3,672,103 3,490,205 High Reliability Solutions 1,023,342 1,022,003 3,100,513 2,881,453 $ 6,114,999 $ 6,763,177 $ 18,000,337 $ 18,646,187 Segment income and reconciliation of income before tax: Communications & Enterprise Compute $ 62,109 $ 75,578 $ 176,460 $ 198,400 Consumer Technologies Group 59,282 49,032 139,230 129,045 Industrial & Emerging Industries 39,681 49,230 127,020 110,498 High Reliability Solutions 82,729 82,806 249,972 213,890 Corporate and Other (20,695 ) (20,563 ) (82,395 ) (60,348 ) Total segment income 223,106 236,083 610,287 591,485 Reconciling items: Intangible amortization 18,734 19,319 62,318 43,117 Stock-based compensation 20,781 24,233 67,311 56,559 Inventory impairment and other (1) — — 92,915 — Restructuring (2) 17,421 — 28,960 — Other charges, net 3,090 44,415 15,007 46,257 Interest and other, net 22,838 21,566 71,869 60,106 Income before income taxes $ 140,242 $ 126,550 $ 271,907 $ 385,446 (1) During the fourth quarter of fiscal year 2016, the Company accepted the return of previously shipped inventory from a former customer, SunEdison, Inc. ("SunEdison"), of approximately $90 million . On April 21, 2016, SunEdison filed a petition for reorganization under bankruptcy law, and as a result, the Company recognized a bad debt reserve of $61.0 million as of March 31, 2016, associated with its outstanding SunEdison receivables. During the second quarter of fiscal year 2017, prices for solar panel modules declined significantly. The Company determined that certain solar panel inventory on hand at the end of the second quarter of fiscal year 2017 was not fully recoverable and recorded a charge of $60.0 million to reduce the carrying costs to market in the nine-month period ended December 31, 2016. The Company also recognized a $16.0 million impairment charge for solar module equipment and $16.9 million primarily related to negative margin sales and other associated solar panel direct costs incurred during the same period. The total charge of $92.9 million is included in cost of sales for the nine-month period ended December 31, 2016 but is excluded from segment results above. (2) During the second quarter of fiscal year 2017, the Company initiated a plan to rationalize the current footprint at existing sites including corporate SG&A functions and to continue to shift the talent base in support of its S ketch-to-Scale tm initiatives. As part of this plan, approximately $29.0 million was recognized during the nine-month period ended December 31, 2016. The Company expects to finalize the plan by the end of fiscal year 2017. Corporate and other primarily includes corporate services costs that are not included in the Chief Operating Decision Maker's ("CODM") assessment of the performance of each of the identified reporting segments. Property and equipment on a segment basis is not disclosed as it is not separately identified and is not internally reported by segment to the Company's CODM.

SUPPLEMENTAL GUARANTOR AND NON-

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	9 Months Ended
	Dec. 31, 2016
SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS
SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS Flex Ltd. (“Parent”) has three tranches of Notes of $500 million , $500 million , and $600 million , respectively, each outstanding, which mature on February 15, 2020, February 15, 2023 and June 15, 2025, respectively. These Notes are senior unsecured obligations, and are guaranteed, fully and unconditionally, jointly and severally, on an unsecured basis, by certain of the Company’s 100% owned subsidiaries (the “guarantor subsidiaries”). These subsidiary guarantees will terminate upon 1) a sale or other disposition of the guarantor or the sale or disposition of all or substantially all the assets of the guarantor (other than to the Parent or a subsidiary); 2) such guarantor ceasing to be a guarantor or a borrower under the Company’s Term Loan Agreement and the Revolving Line of Credit; 3) defeasance or discharge of the Notes, as provided in the Notes indenture; or 4) if at any time the Notes are rated investment grade, provided that each rating agency confirms that the Notes will continue to be rated investment grade after the Note Guaranties are terminated. In lieu of providing separate financial statements for the guarantor subsidiaries, the Company has included the accompanying condensed consolidating financial statements, which are presented using the equity method of accounting. The principal elimination entries relate to investment in subsidiaries and intercompany balances and transactions, including transactions with the Company’s non-guarantor subsidiaries. Condensed Consolidating Balance Sheets as of December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 943,807 $ 63,698 $ 849,591 $ — $ 1,857,096 Accounts receivable — 815,141 1,347,609 — 2,162,750 Inventories — 1,521,272 1,972,345 — 3,493,617 Inter company receivable 10,504,971 7,802,175 14,601,712 (32,908,858 ) — Other current assets 5,796 187,215 907,148 — 1,100,159 Total current assets 11,454,574 10,389,501 19,678,405 (32,908,858 ) 8,613,622 Property and equipment, net — 584,382 1,737,154 — 2,321,536 Goodwill and other intangible assets, net 1,214 85,894 1,250,213 — 1,337,321 Other assets 2,211,872 276,492 2,000,849 (3,958,643 ) 530,570 Investment in subsidiaries 2,562,818 3,456,295 17,947,038 (23,966,151 ) — Total assets $ 16,230,478 $ 14,792,564 $ 42,613,659 $ (60,833,652 ) $ 12,803,049 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Bank borrowings and current portion of long-term debt $ 63,365 $ — $ 5,491 $ — $ 68,856 Accounts payable — 1,734,186 2,965,548 — 4,699,734 Accrued payroll — 99,464 258,458 — 357,922 Inter company payable 10,728,155 10,528,081 11,652,622 (32,908,858 ) — Other current liabilities 28,349 785,866 937,030 — 1,751,245 Total current liabilities 10,819,869 13,147,597 15,819,149 (32,908,858 ) 6,877,757 Long term liabilities 2,810,714 2,042,092 2,389,632 (3,958,643 ) 3,283,795 Flex Ltd. shareholders’ equity (deficit) 2,599,895 (397,125 ) 24,363,276 (23,966,151 ) 2,599,895 Noncontrolling interests — — 41,602 — 41,602 Total shareholders’ equity (deficit) 2,599,895 (397,125 ) 24,404,878 (23,966,151 ) 2,641,497 Total liabilities and shareholders’ equity $ 16,230,478 $ 14,792,564 $ 42,613,659 $ (60,833,652 ) $ 12,803,049 Condensed Consolidating Balance Sheets as of March 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 734,869 $ 148,201 $ 724,500 $ — $ 1,607,570 Accounts receivable — 729,331 1,315,426 — 2,044,757 Inventories — 1,482,410 2,009,246 — 3,491,656 Inter company receivable 9,105,728 5,568,392 12,404,722 (27,078,842 ) — Other current assets 2,951 180,842 987,350 — 1,171,143 Total current assets 9,843,548 8,109,176 17,441,244 (27,078,842 ) 8,315,126 Property and equipment, net — 553,072 1,704,561 — 2,257,633 Goodwill and other intangible assets, net 175 60,895 1,284,750 — 1,345,820 Other assets 2,249,145 267,034 2,004,437 (4,054,214 ) 466,402 Investment in subsidiaries 2,815,426 3,038,002 18,175,348 (24,028,776 ) — Total assets $ 14,908,294 $ 12,028,179 $ 40,610,340 $ (55,161,832 ) $ 12,384,981 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Bank borrowings and current portion of long-term debt $ 58,836 $ 946 $ 5,384 $ — $ 65,166 Accounts payable — 1,401,835 2,846,457 — 4,248,292 Accrued payroll — 114,509 239,038 — 353,547 Inter company payable 9,562,405 7,999,335 9,517,102 (27,078,842 ) — Other current liabilities 33,008 869,470 1,002,722 — 1,905,200 Total current liabilities 9,654,249 10,386,095 13,610,703 (27,078,842 ) 6,572,205 Long term liabilities 2,683,173 2,063,988 2,514,299 (4,054,214 ) 3,207,246 Flex Ltd. shareholders’ equity (deficit) 2,570,872 (421,904 ) 24,450,680 (24,028,776 ) 2,570,872 Noncontrolling interests — — 34,658 — 34,658 Total shareholders’ equity (deficit) 2,570,872 (421,904 ) 24,485,338 (24,028,776 ) 2,605,530 Total liabilities and shareholders’ equity $ 14,908,294 $ 12,028,179 $ 40,610,340 $ (55,161,832 ) $ 12,384,981 Condensed Consolidating Statements of Operations for the Three -Month Period Ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 4,186,855 $ 4,453,753 $ (2,525,609 ) $ 6,114,999 Cost of sales — 3,722,516 4,501,637 (2,525,609 ) 5,698,544 Gross profit (loss) — 464,339 (47,884 ) — 416,455 Selling, general and administrative expenses — 66,738 164,813 — 231,551 Intangible amortization 25 864 17,845 — 18,734 Interest and other, net (370,703 ) 662,422 (265,791 ) — 25,928 Income (loss) from continuing operations before income taxes 370,678 (265,685 ) 35,249 — 140,242 Provision for (benefit from) income taxes — (4,018 ) 14,791 — 10,773 Equity in earnings in subsidiaries (241,209 ) (71,920 ) 4,401 308,728 — Net income (loss) $ 129,469 $ (333,587 ) $ 24,859 $ 308,728 $ 129,469 Condensed Consolidating Statements of Operations for the Three -Month Period Ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 4,597,684 $ 5,718,182 $ (3,552,689 ) $ 6,763,177 Cost of sales — 4,187,076 5,676,323 (3,552,689 ) 6,310,710 Gross profit — 410,608 41,859 — 452,467 Selling, general and administrative expenses — 83,346 157,271 — 240,617 Intangible amortization 75 960 18,284 — 19,319 Interest and other, net 49,358 316,345 (299,722 ) — 65,981 Income (loss) from continuing operations before income taxes (49,433 ) 9,957 166,026 — 126,550 Benefit from income taxes — (8,071 ) (14,289 ) — (22,360 ) Equity in earnings in subsidiaries 198,343 (88,988 ) (10,534 ) (98,821 ) — Net income (loss) $ 148,910 $ (70,960 ) $ 169,781 $ (98,821 ) $ 148,910 Condensed Consolidating Statements of Operations for the Nine-Month Period Ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 12,008,455 $ 13,981,899 $ (7,990,017 ) $ 18,000,337 Cost of sales — 10,822,629 14,031,584 (7,990,017 ) 16,864,196 Gross profit (loss) — 1,185,826 (49,685 ) — 1,136,141 Selling, general and administrative expenses — 212,059 502,981 — 715,040 Intangible amortization 175 2,298 59,845 — 62,318 Interest and other, net (561,290 ) 1,322,198 (674,032 ) — 86,876 Income (loss) from continuing operations before income taxes 561,115 (350,729 ) 61,521 — 271,907 Provision for (benefit from) income taxes 11 (947 ) 40,153 — 39,217 Equity in earnings in subsidiaries (328,414 ) (136,175 ) (69,935 ) 534,524 — Net income (loss) $ 232,690 $ (485,957 ) $ (48,567 ) $ 534,524 $ 232,690 Condensed Consolidating Statements of Operations for the Nine-Month Period Ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 13,126,281 $ 15,168,232 $ (9,648,326 ) $ 18,646,187 Cost of sales — 11,972,388 15,120,401 (9,648,326 ) 17,444,463 Gross profit — 1,153,893 47,831 — 1,201,724 Selling, general and administrative expenses — 213,614 453,184 — 666,798 Intangible amortization 225 2,881 40,011 — 43,117 Interest and other, net (347,663 ) 929,730 (475,704 ) — 106,363 Income from continuing operations before income taxes 347,438 7,668 30,340 — 385,446 Provision for (benefit from) income taxes — (4,630 ) 7,339 — 2,709 Equity in earnings in subsidiaries 35,299 (140,241 ) 42,225 62,717 — Net income (loss) $ 382,737 $ (127,943 ) $ 65,226 $ 62,717 $ 382,737 Condensed Consolidating Statements of Comprehensive Income (Loss) for the Three -Month Period Ended December 31, 2016 Parent Guarantor Non- Eliminations Consolidated (in thousands) Net income (loss) $ 129,469 $ (333,587 ) $ 24,859 $ 308,728 $ 129,469 Other comprehensive income: Foreign currency translation adjustments, net of zero tax (36,412 ) 58,791 35,660 (94,451 ) (36,412 ) Unrealized gain (loss) on derivative instruments and other, net of zero tax (201 ) 3,443 (201 ) (3,242 ) (201 ) Comprehensive income (loss) $ 92,856 $ (271,353 ) $ 60,318 $ 211,035 $ 92,856 Condensed Consolidating Statements of Comprehensive Income (Loss) for the Three -Month Period Ended December 31, 2015 Parent Guarantor Non- Eliminations Consolidated (in thousands) Net income (loss) $ 148,910 $ (70,960 ) $ 169,781 $ (98,821 ) $ 148,910 Other comprehensive income (loss): Foreign currency translation adjustments, net of zero tax 30,063 62,209 50,828 (113,037 ) 30,063 Unrealized gain on derivative instruments and other, net of zero tax 10,497 4,099 10,497 (14,596 ) 10,497 Comprehensive income (loss) $ 189,470 $ (4,652 ) $ 231,106 $ (226,454 ) $ 189,470 Condensed Consolidating Statements of Comprehensive Income (Loss) for the Nine-Month Period Ended December 31, 2016 Parent Guarantor Non- Eliminations Consolidated (in thousands) Net income (loss) $ 232,690 $ (485,957 ) $ (48,567 ) $ 534,524 $ 232,690 Other comprehensive income (loss): 0 Foreign currency translation adjustments, net of zero tax (22,338 ) 68,972 57,055 (126,027 ) (22,338 ) Unrealized gain (loss) on derivative instruments and other, net of zero tax (912 ) 6,942 (912 ) (6,030 ) (912 ) Comprehensive income (loss) $ 209,440 $ (410,043 ) $ 7,576 $ 402,467 $ 209,440 Condensed Consolidating Statements of Comprehensive Income (Loss) for the Nine-Month Period Ended December 31, 2015 Parent Guarantor Non- Eliminations Consolidated (in thousands) Net income (loss) $ 382,737 $ (127,943 ) $ 65,226 $ 62,717 $ 382,737 Other comprehensive income (loss): Foreign currency translation adjustments, net of zero tax 2,579 5,025 (703 ) (4,322 ) 2,579 Unrealized gain on derivative instruments and other, net of zero tax 17,782 9,884 17,782 (27,666 ) 17,782 Comprehensive income (loss) $ 403,098 $ (113,034 ) $ 82,305 $ 30,729 $ 403,098 Condensed Consolidating Statements of Cash Flows for the Nine-Month Period Ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) Net cash provided by (used in) operating activities $ 520,709 $ (354,918 ) $ 847,430 $ (33 ) $ 1,013,188 Cash flows from investing activities: Purchases of property and equipment, net of proceeds from disposal — (134,755 ) (250,812 ) 27 (385,540 ) Acquisition of businesses, net of cash acquired — (73,469 ) (106,790 ) — (180,259 ) Proceeds from divestiture of businesses, net of cash held in divested businesses — 20,500 15,573 — 36,073 Investing cash flows to affiliates (840,082 ) (3,334,220 ) (532,400 ) 4,706,702 — Other investing activities, net (61,213 ) (7,823 ) 19,332 — (49,704 ) Net cash used in investing activities (901,295 ) (3,529,767 ) (855,097 ) 4,706,729 (579,430 ) Cash flows from financing activities: Proceeds from bank borrowings and long-term debt 204,916 — 602 — 205,518 Repayments of bank borrowings, long-term debt and capital lease obligations (106,547 ) (4,460 ) (4,082 ) — (115,089 ) Payments for repurchases of ordinary shares (259,658 ) — — — (259,658 ) Net proceeds from issuance of ordinary shares 11,978 — — — 11,978 Financing cash flows from affiliates 790,398 3,813,276 103,022 (4,706,696 ) — Other financing activities, net 30,000 (11,347 ) (65,955 ) — (47,302 ) Net cash provided by financing activities 671,087 3,797,469 33,587 (4,706,696 ) (204,553 ) Effect of exchange rates on cash and cash equivalents (81,563 ) 2,713 99,171 — 20,321 Net increase (decrease) in cash and cash equivalents 208,938 (84,503 ) 125,091 — 249,526 Cash and cash equivalents, beginning of period 734,869 148,201 724,500 — 1,607,570 Cash and cash equivalents, end of period $ 943,807 $ 63,698 $ 849,591 $ — $ 1,857,096 Condensed Consolidating Statements of Cash Flows for the Nine-Month Period Ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) Net cash provided by (used in) operating activities $ 343,182 $ (93,746 ) $ 690,336 $ — $ 939,772 Cash flows from investing activities: Purchases of property and equipment, net of proceeds from disposal — (128,011 ) (285,928 ) 5 (413,934 ) Acquisition and divestiture of businesses, net of cash acquired and cash held in divested business — (809,233 ) (94,612 ) — (903,845 ) Proceeds from divestiture of business, net of cash held in divested business — — 3,603 — 3,603 Investing cash flows to affiliates (1,099,775 ) (923,812 ) (1,087,520 ) 3,111,107 — Other investing activities, net (2,046 ) (23,270 ) 26,713 — 1,397 Net cash used in investing activities (1,101,821 ) (1,884,326 ) (1,437,744 ) 3,111,112 (1,312,779 ) Cash flows from financing activities: Proceeds from bank borrowings and long-term debt 695,309 — 60,375 — 755,684 Repayments of bank borrowings, long-term debt and capital lease obligations (35,638 ) (1,333 ) (3,735 ) — (40,706 ) Payments for repurchases of ordinary shares (331,690 ) — — — (331,690 ) Net proceeds from issuance of ordinary shares 52,950 — — — 52,950 Financing cash flows from affiliates 632,750 1,996,352 482,010 (3,111,112 ) — Other financing activities, net — — (49,742 ) — (49,742 ) Net cash provided by financing activities 1,013,681 1,995,019 488,908 (3,111,112 ) 386,496 Effect of exchange rates on cash and cash equivalents 4,101 2,143 (13,947 ) — (7,703 ) Net decrease (increase) in cash and cash equivalents 259,143 19,090 (272,447 ) — 5,786 Cash and cash equivalents, beginning of period 608,971 168,272 851,165 — 1,628,408 Cash and cash equivalents, end of period $ 868,114 $ 187,362 $ 578,718 $ — $ 1,634,194

ORGANIZATION OF THE COMPANY A24

ORGANIZATION OF THE COMPANY AND BASIS OF PRESENTATION (Policies)	9 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization of the Company	Organization of the Company Flex Ltd. , formerly Flextronics International Ltd., ("Flex", or the "Company") was incorporated in the Republic of Singapore in May 1990. The Company's operations have expanded over the years through a combination of organic growth and acquisitions. The Company is a globally-recognized leading provider of innovative design, engineering, manufacturing, and supply chain services and solutions that span from Sketch-to-Scale tm ; from conceptual sketch to full-scale production. The Company designs, builds, ships and services complete packaged consumer electronics and industrial products for original equipment manufacturers ("OEMs"), through its activities in the following segments: High Reliability Solutions ("HRS"), which is comprised of its medical business including consumer health, digital health, disposables, drug delivery, diagnostics, life sciences and imaging equipment; automotive business, including vehicle electronics, connectivity, and clean technologies; and defense and aerospace businesses, focused on commercial aviation, defense and military; Consumer Technologies Group ("CTG"), which includes its mobile devices business, including smart phones; consumer electronics business, including connected living, wearable electronics including digital sport, game consoles, and connectivity devices; and high-volume computing business, including various supply chain solutions for notebook personal computers ("PC"), tablets, and printers; in addition, CTG group is expanding its business relationships to include supply chain optimization for non-electronics products such as shoes and clothing; Industrial and Emerging Industries ("IEI"), which is comprised of semiconductor and capital equipment, office solutions, household industrial and lifestyle, industrial automation and kiosks, energy and metering, and lighting; and Communications & Enterprise Compute ("CEC"), includes radio access base stations, remote radio heads, and small cells for wireless infrastructure; optical, routing, broadcasting, and switching products for the data and video networks; server and storage platforms for both enterprise and cloud-based deployments; next generation storage and security appliance products; and rack level solutions, converged infrastructure and software-defined product solutions. The Company's strategy is to provide customers with a full range of cost competitive, vertically integrated global supply chain solutions through which the Company can design, build, ship and service a complete packaged product for its OEM customers. This enables the Company's OEM customers to leverage the Company's supply chain solutions to meet their product requirements throughout the entire product life cycle. 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) and supply chain management software solutions and component product offerings (including rigid and flexible printed circuit boards and power adapters and chargers).
Basis of Presentation	Basis of Presentation 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, 2016 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 presentation have been included. Operating results for the three-month and nine-month periods ended December 31, 2016 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2017 . The first quarters for fiscal year 2017 and fiscal year 2016 ended on July 1, 2016 , which is comprised of 92 days in the period, and June 26, 2015 , which is comprised of 87 days in the period, respectively. The second quarters for fiscal year 2017 and fiscal year 2016 ended on September 30, 2016 and September 25, 2015 , which are comprised of 91 days in both periods, respectively. The Company's third quarters end on December 31 of each year, which are comprised of 92 days and 97 days for fiscal years 2017 and 2016, respectively. The accompanying unaudited condensed consolidated financial statements include the accounts of Flex and its majority-owned subsidiaries, after elimination of intercompany accounts and transactions. The Company consolidates its majority-owned subsidiaries and investments in entities in which the Company has a controlling interest. For the consolidated majority-owned subsidiaries in which the Company owns less than 100%, the Company recognizes a noncontrolling interest for the ownership of the noncontrolling owners. Noncontrolling interests are presented as a separate component of total shareholders' equity in the condensed consolidated balance sheets. The associated noncontrolling owners' interests are immaterial for all of the periods presented, and are included in interest and other, net in the condensed consolidated statements of operations. The Company has certain non-majority-owned equity investments in non-publicly traded companies that are accounted for using the equity method of accounting. The equity method of accounting is used when the Company has the ability to significantly influence the operating decisions of the issuer, or if the Company has an ownership percentage of a corporation equal to or generally greater than 20% but less than 50%, and for non-majority-owned investments in partnerships when generally greater than 5%. The equity in earnings (losses) of equity method investees are immaterial for all of the periods presented, and are included in interest and other, net in the condensed consolidated statements of operations.
Recently Adopted and Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncement In March 2016, the Financial Accounting Standards Board ("FASB") issued new guidance intended to reduce the cost and complexity of the accounting for share-based payments. The new guidance simplifies various aspects of the accounting for share-based payments including income tax effects, withholding requirements and forfeitures. The Company elected to early adopt this new guidance beginning in the first quarter of fiscal year 2017. The guidance eliminates additional paid in capital ("APIC") pools and requires companies to recognize all excess tax benefits and tax deficiencies in the income statement when the awards vest or are settled. It also addresses the presentation of excess tax benefits and employee taxes paid on the statement of cash flows. Prior to adoption, the Company elected to not deduct tax benefits for stock-based compensation awards on its tax returns, and accordingly, did not have any excess tax benefits or tax deficiencies upon adoption. The Company therefore determined that adoption of the new guidance had no impact on the condensed consolidated statement of operations and the condensed consolidated statement of cash flows. Further, the new guidance eliminates the requirement to estimate forfeitures and reduce stock compensation expense during the vesting period. Instead, companies can elect to account for actual forfeitures as they occur and record any previously unrecognized compensation expense for estimated forfeitures up to the period of adoption as a retrospective adjustment to beginning retained earnings. The Company has made the election to account for actual forfeitures as they occur starting in fiscal year 2017. After assessment, it was determined that the cumulative effect adjustment required under the new guidance was immaterial and therefore the Company did not record a retrospective adjustment. The Company finally determined that the adoption of this guidance did not have a significant impact on the consolidated financial position, results of operations and cash flows of the Company. Recently Issued Accounting Pronouncements In January 2017, the FASB issued new guidance that changes the definition of a business to assist entities with evaluating when a set of transferred assets and activities is a business. This guidance is effective for the Company beginning in the first quarter of fiscal year 2019, with early application permitted. The guidance may result in more asset acquisitions being accounted for as purchases of assets in lieu of business combinations. The Company intends to adopt the guidance when it becomes effective in the first quarter of fiscal year 2019. In October 2016, the FASB issued new guidance to amend the consolidation guidance on how a reporting entity that is the single decision maker of a variable interest entity ("VIE") should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. This guidance is effective for the Company beginning in the first quarter of fiscal year 2018, with early adoption permitted. The Company expects the new guidance will have an immaterial impact on its consolidated financial statements, and it intends to adopt the guidance when it becomes effective in the first quarter of fiscal year 2018. In October 2016, the FASB issued new guidance intended to improve the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. This guidance is effective for the Company beginning in the first quarter of fiscal year 2019, with early adoption permitted in the first interim period of fiscal year 2018. The Company intends to early adopt the new guidance starting in the first quarter of fiscal year 2018, with an expected immaterial impact on its consolidated financial statements. In August 2016, the FASB issued new guidance intended to address specific cash flow issues with the objective of reducing the existing diversity in practice. This guidance is effective for the Company beginning in the first quarter of fiscal year 2019, with early application permitted. The Company is currently assessing the impact of this update and the timing of adoption.

BALANCE SHEET ITEMS (Tables)

BALANCE SHEET ITEMS (Tables)	9 Months Ended
	Dec. 31, 2016
Balance Sheet Related Disclosures [Abstract]
Schedule of components of inventories	The components of inventories, net of applicable lower of cost or market write-downs, were as follows: As of December 31, 2016 As of March 31, 2016 (In thousands) Raw materials $ 2,399,270 $ 2,234,512 Work-in-progress 436,289 561,282 Finished goods 658,058 695,862 $ 3,493,617 $ 3,491,656
Schedule of goodwill	The following table summarizes the activity in the Company’s goodwill account for each of its four segments during the nine-month period ended December 31, 2016 : HRS CTG IEI CEC Amount (In thousands) Balance, beginning of the year $ 439,336 $ 68,234 $ 322,803 $ 111,693 $ 942,066 Additions (1) — 39,791 17,727 — 57,518 Divestitures (2) (1,787 ) — (2,640 ) — (4,427 ) Purchase accounting adjustments (3) 794 — — — 794 Foreign currency translation adjustments (4) (30,233 ) — — — (30,233 ) Balance, end of the period $ 408,110 $ 108,025 $ 337,890 $ 111,693 $ 965,718 (1) The goodwill generated from the Company’s business combinations completed during the nine-month period ended December 31, 2016 is primarily related to value placed on the acquired employee workforces, service offerings and capabilities of the acquired businesses. The goodwill is not deductible for income tax purposes. See note 12 for additional information. (2) During the nine-month period ended December 31, 2016 , the Company disposed of two non-strategic businesses within the IEI and HRS segments, and recorded an aggregate reduction of goodwill of $4.4 million accordingly, which is included in the loss on sale recorded in other charges, net on the condensed consolidated statement of operations. (3) Includes adjustments to estimates resulting from the finalization of management's review of the valuation of assets acquired and liabilities assumed through certain business combinations completed in a period subsequent to the respective acquisition. These adjustments were not individually, nor in the aggregate, significant to the Company. (4) During the nine-month period ended December 31, 2016 , the Company recorded $30.2 million of foreign currency translation adjustments primarily related to the goodwill associated with the acquisition of Mirror Controls International ("MCi"), as the U.S. Dollar strengthened against the Euro.
Schedule of components of acquired intangible assets	The components of acquired intangible assets are as follows: As of December 31, 2016 As of March 31, 2016 Gross Accumulated Net Gross Accumulated Net (In thousands) Intangible assets: Customer-related intangibles $ 254,991 $ (96,655 ) $ 158,336 $ 223,046 $ (66,473 ) $ 156,573 Licenses and other intangibles 279,740 (66,473 ) 213,267 285,053 (37,872 ) 247,181 Total $ 534,731 $ (163,128 ) $ 371,603 $ 508,099 $ (104,345 ) $ 403,754
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 thousands) 2017 (1) $ 17,977 2018 66,810 2019 60,038 2020 51,054 2021 46,953 Thereafter 128,771 Total amortization expense $ 371,603 ____________________________________________________________ (1) Represents estimated amortization for the remaining three -month period ending March 31, 2017 .

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Dec. 31, 2016
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract]
Schedule of share-based compensation expense	The following table summarizes the Company’s share-based compensation expense: Three-Month Periods Ended Nine-Month Periods Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 (In thousands) Cost of sales $ 2,437 $ 2,407 $ 7,506 $ 6,440 Selling, general and administrative expenses 18,344 21,826 59,805 50,119 Total share-based compensation expense $ 20,781 $ 24,233 $ 67,311 $ 56,559

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Dec. 31, 2016
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 the 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 Ltd. : Three-Month Periods Ended Nine-Month Periods Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 (In thousands, except per share amounts) Net income $ 129,469 $ 148,910 $ 232,690 $ 382,737 Shares used in computation: Weighted-average ordinary shares outstanding 539,638 554,919 542,780 561,070 Basic earnings per share $ 0.24 $ 0.27 $ 0.43 $ 0.68 Diluted earnings per share: Net income $ 129,469 $ 148,910 $ 232,690 $ 382,737 Shares used in computation: Weighted-average ordinary shares outstanding 539,638 554,919 542,780 561,070 Weighted-average ordinary share equivalents from stock options and awards (1) (2) 5,384 6,077 5,592 7,856 Weighted-average ordinary shares and ordinary share equivalents outstanding 545,022 560,996 548,372 568,926 Diluted earnings per share $ 0.24 $ 0.27 $ 0.42 $ 0.67 ____________________________________________________________ (1) Options to purchase ordinary shares of 0.5 million and 2.1 million during the three -month periods ended December 31, 2016 and December 31, 2015 , respectively, and share bonus awards of 0.1 million for the three-month period ended December 31, 2015 were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted-average ordinary share equivalents. An immaterial amount of anti-dilutive share bonus awards was excluded for the three-month period ended December 31, 2016 . (2) Options to purchase ordinary shares of 0.7 million and 1.2 million during the nine-month periods ended December 31, 2016 and December 31, 2015 , respectively, and share bonus awards of 3.5 million for the nine-month period ended December 31, 2015 were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted-average ordinary share equivalents. An immaterial amount of anti-dilutive share bonus awards was excluded for the nine-month period ended December 31, 2016 .

BANK BORROWINGS AND LONG TERM28

BANK BORROWINGS AND LONG TERM DEBT (Tables)	9 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of bank borrowings and long-term debt	Bank borrowings and long-term debt are as follows: As of December 31, 2016 As of March 31, 2016 (In thousands) Term Loan, including current portion, due in installments through March 2019 $ 525,000 $ 547,500 4.625% Notes due February 2020 500,000 500,000 Term Loan, including current portion, due in installments through November 2021 700,000 577,500 5.000% Notes due February 2023 500,000 500,000 4.75% Notes due June 2025 595,879 595,589 Other 62,448 71,317 Debt issuance costs (16,487 ) (17,351 ) Total $ 2,866,840 $ 2,774,555
Schedule of the Company's repayments of long-term debt	Repayment of the Company’s long term debt outstanding as of December 31, 2016 is as follows: Fiscal Year Ending March 31, Amount (In thousands) 2017 (1) $ 11,579 2018 58,504 2019 486,317 2020 517,567 2021 64,648 Thereafter 1,744,712 Total $ 2,883,327 _________________________________________________________ (1) Represents scheduled repayment for the remaining three -month period ending March 31, 2017 .

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedges, Assets [Abstract]
Summary of aggregate notional amount of the Company's outstanding foreign currency forward and swap contracts	As of December 31, 2016 , the aggregate notional amount of the Company’s outstanding foreign currency contracts was $4.8 billion as summarized below: Foreign Currency Amount Notional Contract Value in USD Currency Buy Sell Buy Sell (In thousands) Cash Flow Hedges CNY 1,037,000 — $ 148,969 $ — EUR 36,268 56,358 37,693 64,046 HUF 16,053,300 — 54,006 — ILS 86,441 — 22,413 — INR 1,314,549 — 19,100 — MXN 1,775,000 — 85,636 — MYR 139,000 9,000 31,013 2,008 RON 95,661 — 21,901 — Other N/A N/A 34,172 12,223 454,903 78,277 Other Foreign Currency Contracts BRL — 443,000 — 134,946 CNY 4,319,620 2,035,392 620,177 292,391 DKK 187,400 157,200 26,201 21,979 EUR 874,957 1,385,620 913,218 1,444,927 GBP 35,110 65,145 42,969 79,940 HUF 29,285,732 24,552,611 98,522 82,599 ILS 62,640 59,420 16,241 15,407 INR 4,040,788 677,800 59,242 10,000 MXN 1,718,039 1,155,529 82,888 55,749 MYR 383,028 89,800 85,459 20,036 PLN 122,243 70,681 28,864 16,689 SGD 44,800 11,150 30,846 7,677 Other N/A N/A 54,729 67,304 2,059,356 2,249,644 Total Notional Contract Value in USD $ 2,514,259 $ 2,327,921
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: Fair Values of Derivative Instruments Asset Derivatives Liability Derivatives Fair Value Fair Value Balance Sheet December 31, March 31, Balance Sheet December 31, March 31, (In thousands) Derivatives designated as hedging instruments Foreign currency contracts Other current assets $ 7,681 $ 5,510 Other current liabilities $ 9,933 $ 2,446 Derivatives not designated as hedging instruments Foreign currency contracts Other current assets $ 20,254 $ 17,138 Other current liabilities $ 12,995 $ 18,645

ACCUMULATED OTHER COMPREHENSI30

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Dec. 31, 2016
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, 2016 December 31, 2015 Unrealized loss on Foreign currency Total Unrealized gain Foreign currency Total (In thousands) Beginning balance $ (42,233 ) $ (80,319 ) $ (122,552 ) $ (60,981 ) $ (139,723 ) $ (200,704 ) Other comprehensive gain (loss) before reclassifications (1,354 ) (33,770 ) (35,124 ) 5,941 9,224 15,165 Net (gains) losses reclassified from accumulated other comprehensive loss 1,153 (2,642 ) (1,489 ) 4,556 20,839 25,395 Net current-period other comprehensive gain (loss) (201 ) (36,412 ) (36,613 ) 10,497 30,063 40,560 Ending balance $ (42,434 ) $ (116,731 ) $ (159,165 ) $ (50,484 ) $ (109,660 ) $ (160,144 ) Nine-Month Periods Ended December 31, 2016 December 31, 2015 Unrealized loss on Foreign currency Total Unrealized gain Foreign currency Total (In thousands) Beginning balance $ (41,522 ) $ (94,393 ) $ (135,915 ) $ (68,266 ) $ (112,239 ) $ (180,505 ) Other comprehensive loss before reclassifications (1,031 ) (19,471 ) (20,502 ) (8,478 ) (18,412 ) (26,890 ) Net (gains) losses reclassified from accumulated other comprehensive loss 119 (2,867 ) (2,748 ) 26,260 20,991 47,251 Net current-period other comprehensive gain (loss) (912 ) (22,338 ) (23,250 ) 17,782 2,579 20,361 Ending balance $ (42,434 ) $ (116,731 ) $ (159,165 ) $ (50,484 ) $ (109,660 ) $ (160,144 )

TRADE RECEIVABLES SECURITIZAT31

TRADE RECEIVABLES SECURITIZATION (Tables)	9 Months Ended
	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Summary of deferred purchase price receivables	The following table summarizes the activity in the deferred purchase price receivables account: Three-Month Periods Ended Nine-Month Periods Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 (In thousands) Beginning balance $ 461,544 $ 537,619 $ 501,097 $ 600,672 Transfers of receivables 919,766 920,370 2,442,490 2,671,095 Collections (712,392 ) (923,294 ) (2,274,669 ) (2,737,072 ) Ending balance $ 668,918 $ 534,695 $ 668,918 $ 534,695

FAIR VALUE MEASUREMENT OF ASS32

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of business acquisitions by acquisition, contingent consideration	The following table summarizes the activities related to contingent consideration: Three-Month Periods Ended Nine-Month Periods Ended December 31, December 31, December 31, December 31, (In thousands) Beginning balance $ 75,614 $ 4,500 $ 73,423 $ 4,500 Additions to accrual — 81,000 — 81,000 Payments (40,555 ) — (42,776 ) — Fair value adjustments (6,997 ) 4,000 (2,585 ) 4,000 Ending balance $ 28,062 $ 89,500 $ 28,062 $ 89,500
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: Fair Value Measurements as of December 31, 2016 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet) $ — $ 751,027 $ — $ 751,027 Deferred purchase price receivable (Note 10) — — 668,918 668,918 Foreign exchange contracts (Note 8) — 27,935 — 27,935 Deferred compensation plan assets: 0 Mutual funds, money market accounts and equity securities 6,686 50,522 — 57,208 Liabilities: 0 Foreign exchange contracts (Note 8) $ — $ (22,928 ) $ — $ (22,928 ) Contingent consideration in connection with business acquisitions — — (28,062 ) (28,062 ) Fair Value Measurements as of March 31, 2016 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet) $ — $ 1,074,132 $ — $ 1,074,132 Deferred purchase price receivable (Note 10) — — 501,097 501,097 Foreign exchange contracts (Note 8) — 22,648 — 22,648 Deferred compensation plan assets: 0 Mutual funds, money market accounts and equity securities 9,228 40,556 — 49,784 Liabilities: 0 Foreign exchange contracts (Note 8) $ — $ (21,091 ) $ — $ (21,091 ) Contingent consideration in connection with business acquisitions — — (73,423 ) (73,423 )
Schedule of debt not carried at fair value	The following table presents the Company’s debt not carried at fair value: As of December 31, 2016 As of March 31, 2016 Carrying Fair Carrying Fair Fair Value (In thousands) Term Loan, including current portion, due in installments through March 2019 525,000 524,675 547,500 542,709 Level 1 4.625% Notes due February 2020 500,000 525,740 500,000 524,735 Level 1 Term Loan, including current portion, due in installments through November 2021 (1) 700,000 696,941 577,500 573,533 Level 1 5.000% Notes due February 2023 500,000 532,810 500,000 507,500 Level 1 4.750% Notes due June 2025 595,879 639,288 595,589 604,926 Level 1 Total $ 2,820,879 $ 2,919,454 $ 2,720,589 $ 2,753,403 (1) On November 30, 2016, the Company entered into a new arrangement to extend the maturity date of the agreement from August 30, 2018 to November 30, 2021. Refer to note 5 for further details of the arrangement.

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of segment reporting information by operating segment	Selected financial information by segment is as follows: Three-Month Periods Ended Nine-Month Periods Ended December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 (In thousands) Net sales: Communications & Enterprise Compute $ 2,102,321 $ 2,469,099 $ 6,400,233 $ 6,640,626 Consumer Technologies Group 1,848,970 2,057,850 4,827,488 5,633,903 Industrial & Emerging Industries 1,140,366 1,214,225 3,672,103 3,490,205 High Reliability Solutions 1,023,342 1,022,003 3,100,513 2,881,453 $ 6,114,999 $ 6,763,177 $ 18,000,337 $ 18,646,187 Segment income and reconciliation of income before tax: Communications & Enterprise Compute $ 62,109 $ 75,578 $ 176,460 $ 198,400 Consumer Technologies Group 59,282 49,032 139,230 129,045 Industrial & Emerging Industries 39,681 49,230 127,020 110,498 High Reliability Solutions 82,729 82,806 249,972 213,890 Corporate and Other (20,695 ) (20,563 ) (82,395 ) (60,348 ) Total segment income 223,106 236,083 610,287 591,485 Reconciling items: Intangible amortization 18,734 19,319 62,318 43,117 Stock-based compensation 20,781 24,233 67,311 56,559 Inventory impairment and other (1) — — 92,915 — Restructuring (2) 17,421 — 28,960 — Other charges, net 3,090 44,415 15,007 46,257 Interest and other, net 22,838 21,566 71,869 60,106 Income before income taxes $ 140,242 $ 126,550 $ 271,907 $ 385,446 (1) During the fourth quarter of fiscal year 2016, the Company accepted the return of previously shipped inventory from a former customer, SunEdison, Inc. ("SunEdison"), of approximately $90 million . On April 21, 2016, SunEdison filed a petition for reorganization under bankruptcy law, and as a result, the Company recognized a bad debt reserve of $61.0 million as of March 31, 2016, associated with its outstanding SunEdison receivables. During the second quarter of fiscal year 2017, prices for solar panel modules declined significantly. The Company determined that certain solar panel inventory on hand at the end of the second quarter of fiscal year 2017 was not fully recoverable and recorded a charge of $60.0 million to reduce the carrying costs to market in the nine-month period ended December 31, 2016. The Company also recognized a $16.0 million impairment charge for solar module equipment and $16.9 million primarily related to negative margin sales and other associated solar panel direct costs incurred during the same period. The total charge of $92.9 million is included in cost of sales for the nine-month period ended December 31, 2016 but is excluded from segment results above. (2) During the second quarter of fiscal year 2017, the Company initiated a plan to rationalize the current footprint at existing sites including corporate SG&A functions and to continue to shift the talent base in support of its S ketch-to-Scale tm initiatives. As part of this plan, approximately $29.0 million was recognized during the nine-month period ended December 31, 2016.

SUPPLEMENTAL GUARANTOR AND NO34

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)	9 Months Ended
	Dec. 31, 2016
SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS
Schedule of condensed consolidating balance sheets	Condensed Consolidating Balance Sheets as of December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 943,807 $ 63,698 $ 849,591 $ — $ 1,857,096 Accounts receivable — 815,141 1,347,609 — 2,162,750 Inventories — 1,521,272 1,972,345 — 3,493,617 Inter company receivable 10,504,971 7,802,175 14,601,712 (32,908,858 ) — Other current assets 5,796 187,215 907,148 — 1,100,159 Total current assets 11,454,574 10,389,501 19,678,405 (32,908,858 ) 8,613,622 Property and equipment, net — 584,382 1,737,154 — 2,321,536 Goodwill and other intangible assets, net 1,214 85,894 1,250,213 — 1,337,321 Other assets 2,211,872 276,492 2,000,849 (3,958,643 ) 530,570 Investment in subsidiaries 2,562,818 3,456,295 17,947,038 (23,966,151 ) — Total assets $ 16,230,478 $ 14,792,564 $ 42,613,659 $ (60,833,652 ) $ 12,803,049 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Bank borrowings and current portion of long-term debt $ 63,365 $ — $ 5,491 $ — $ 68,856 Accounts payable — 1,734,186 2,965,548 — 4,699,734 Accrued payroll — 99,464 258,458 — 357,922 Inter company payable 10,728,155 10,528,081 11,652,622 (32,908,858 ) — Other current liabilities 28,349 785,866 937,030 — 1,751,245 Total current liabilities 10,819,869 13,147,597 15,819,149 (32,908,858 ) 6,877,757 Long term liabilities 2,810,714 2,042,092 2,389,632 (3,958,643 ) 3,283,795 Flex Ltd. shareholders’ equity (deficit) 2,599,895 (397,125 ) 24,363,276 (23,966,151 ) 2,599,895 Noncontrolling interests — — 41,602 — 41,602 Total shareholders’ equity (deficit) 2,599,895 (397,125 ) 24,404,878 (23,966,151 ) 2,641,497 Total liabilities and shareholders’ equity $ 16,230,478 $ 14,792,564 $ 42,613,659 $ (60,833,652 ) $ 12,803,049 Condensed Consolidating Balance Sheets as of March 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 734,869 $ 148,201 $ 724,500 $ — $ 1,607,570 Accounts receivable — 729,331 1,315,426 — 2,044,757 Inventories — 1,482,410 2,009,246 — 3,491,656 Inter company receivable 9,105,728 5,568,392 12,404,722 (27,078,842 ) — Other current assets 2,951 180,842 987,350 — 1,171,143 Total current assets 9,843,548 8,109,176 17,441,244 (27,078,842 ) 8,315,126 Property and equipment, net — 553,072 1,704,561 — 2,257,633 Goodwill and other intangible assets, net 175 60,895 1,284,750 — 1,345,820 Other assets 2,249,145 267,034 2,004,437 (4,054,214 ) 466,402 Investment in subsidiaries 2,815,426 3,038,002 18,175,348 (24,028,776 ) — Total assets $ 14,908,294 $ 12,028,179 $ 40,610,340 $ (55,161,832 ) $ 12,384,981 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Bank borrowings and current portion of long-term debt $ 58,836 $ 946 $ 5,384 $ — $ 65,166 Accounts payable — 1,401,835 2,846,457 — 4,248,292 Accrued payroll — 114,509 239,038 — 353,547 Inter company payable 9,562,405 7,999,335 9,517,102 (27,078,842 ) — Other current liabilities 33,008 869,470 1,002,722 — 1,905,200 Total current liabilities 9,654,249 10,386,095 13,610,703 (27,078,842 ) 6,572,205 Long term liabilities 2,683,173 2,063,988 2,514,299 (4,054,214 ) 3,207,246 Flex Ltd. shareholders’ equity (deficit) 2,570,872 (421,904 ) 24,450,680 (24,028,776 ) 2,570,872 Noncontrolling interests — — 34,658 — 34,658 Total shareholders’ equity (deficit) 2,570,872 (421,904 ) 24,485,338 (24,028,776 ) 2,605,530 Total liabilities and shareholders’ equity $ 14,908,294 $ 12,028,179 $ 40,610,340 $ (55,161,832 ) $ 12,384,981
Schedule of condensed consolidating statements of operations	Condensed Consolidating Statements of Operations for the Nine-Month Period Ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 12,008,455 $ 13,981,899 $ (7,990,017 ) $ 18,000,337 Cost of sales — 10,822,629 14,031,584 (7,990,017 ) 16,864,196 Gross profit (loss) — 1,185,826 (49,685 ) — 1,136,141 Selling, general and administrative expenses — 212,059 502,981 — 715,040 Intangible amortization 175 2,298 59,845 — 62,318 Interest and other, net (561,290 ) 1,322,198 (674,032 ) — 86,876 Income (loss) from continuing operations before income taxes 561,115 (350,729 ) 61,521 — 271,907 Provision for (benefit from) income taxes 11 (947 ) 40,153 — 39,217 Equity in earnings in subsidiaries (328,414 ) (136,175 ) (69,935 ) 534,524 — Net income (loss) $ 232,690 $ (485,957 ) $ (48,567 ) $ 534,524 $ 232,690 Condensed Consolidating Statements of Operations for the Nine-Month Period Ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 13,126,281 $ 15,168,232 $ (9,648,326 ) $ 18,646,187 Cost of sales — 11,972,388 15,120,401 (9,648,326 ) 17,444,463 Gross profit — 1,153,893 47,831 — 1,201,724 Selling, general and administrative expenses — 213,614 453,184 — 666,798 Intangible amortization 225 2,881 40,011 — 43,117 Interest and other, net (347,663 ) 929,730 (475,704 ) — 106,363 Income from continuing operations before income taxes 347,438 7,668 30,340 — 385,446 Provision for (benefit from) income taxes — (4,630 ) 7,339 — 2,709 Equity in earnings in subsidiaries 35,299 (140,241 ) 42,225 62,717 — Net income (loss) $ 382,737 $ (127,943 ) $ 65,226 $ 62,717 $ 382,737 Condensed Consolidating Statements of Operations for the Three -Month Period Ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 4,186,855 $ 4,453,753 $ (2,525,609 ) $ 6,114,999 Cost of sales — 3,722,516 4,501,637 (2,525,609 ) 5,698,544 Gross profit (loss) — 464,339 (47,884 ) — 416,455 Selling, general and administrative expenses — 66,738 164,813 — 231,551 Intangible amortization 25 864 17,845 — 18,734 Interest and other, net (370,703 ) 662,422 (265,791 ) — 25,928 Income (loss) from continuing operations before income taxes 370,678 (265,685 ) 35,249 — 140,242 Provision for (benefit from) income taxes — (4,018 ) 14,791 — 10,773 Equity in earnings in subsidiaries (241,209 ) (71,920 ) 4,401 308,728 — Net income (loss) $ 129,469 $ (333,587 ) $ 24,859 $ 308,728 $ 129,469 Condensed Consolidating Statements of Operations for the Three -Month Period Ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 4,597,684 $ 5,718,182 $ (3,552,689 ) $ 6,763,177 Cost of sales — 4,187,076 5,676,323 (3,552,689 ) 6,310,710 Gross profit — 410,608 41,859 — 452,467 Selling, general and administrative expenses — 83,346 157,271 — 240,617 Intangible amortization 75 960 18,284 — 19,319 Interest and other, net 49,358 316,345 (299,722 ) — 65,981 Income (loss) from continuing operations before income taxes (49,433 ) 9,957 166,026 — 126,550 Benefit from income taxes — (8,071 ) (14,289 ) — (22,360 ) Equity in earnings in subsidiaries 198,343 (88,988 ) (10,534 ) (98,821 ) — Net income (loss) $ 148,910 $ (70,960 ) $ 169,781 $ (98,821 ) $ 148,910
Schedule of condensed consolidating statements of comprehensive income (loss)	Condensed Consolidating Statements of Comprehensive Income (Loss) for the Three -Month Period Ended December 31, 2016 Parent Guarantor Non- Eliminations Consolidated (in thousands) Net income (loss) $ 129,469 $ (333,587 ) $ 24,859 $ 308,728 $ 129,469 Other comprehensive income: Foreign currency translation adjustments, net of zero tax (36,412 ) 58,791 35,660 (94,451 ) (36,412 ) Unrealized gain (loss) on derivative instruments and other, net of zero tax (201 ) 3,443 (201 ) (3,242 ) (201 ) Comprehensive income (loss) $ 92,856 $ (271,353 ) $ 60,318 $ 211,035 $ 92,856 Condensed Consolidating Statements of Comprehensive Income (Loss) for the Three -Month Period Ended December 31, 2015 Parent Guarantor Non- Eliminations Consolidated (in thousands) Net income (loss) $ 148,910 $ (70,960 ) $ 169,781 $ (98,821 ) $ 148,910 Other comprehensive income (loss): Foreign currency translation adjustments, net of zero tax 30,063 62,209 50,828 (113,037 ) 30,063 Unrealized gain on derivative instruments and other, net of zero tax 10,497 4,099 10,497 (14,596 ) 10,497 Comprehensive income (loss) $ 189,470 $ (4,652 ) $ 231,106 $ (226,454 ) $ 189,470 Condensed Consolidating Statements of Comprehensive Income (Loss) for the Nine-Month Period Ended December 31, 2016 Parent Guarantor Non- Eliminations Consolidated (in thousands) Net income (loss) $ 232,690 $ (485,957 ) $ (48,567 ) $ 534,524 $ 232,690 Other comprehensive income (loss): 0 Foreign currency translation adjustments, net of zero tax (22,338 ) 68,972 57,055 (126,027 ) (22,338 ) Unrealized gain (loss) on derivative instruments and other, net of zero tax (912 ) 6,942 (912 ) (6,030 ) (912 ) Comprehensive income (loss) $ 209,440 $ (410,043 ) $ 7,576 $ 402,467 $ 209,440 Condensed Consolidating Statements of Comprehensive Income (Loss) for the Nine-Month Period Ended December 31, 2015 Parent Guarantor Non- Eliminations Consolidated (in thousands) Net income (loss) $ 382,737 $ (127,943 ) $ 65,226 $ 62,717 $ 382,737 Other comprehensive income (loss): Foreign currency translation adjustments, net of zero tax 2,579 5,025 (703 ) (4,322 ) 2,579 Unrealized gain on derivative instruments and other, net of zero tax 17,782 9,884 17,782 (27,666 ) 17,782 Comprehensive income (loss) $ 403,098 $ (113,034 ) $ 82,305 $ 30,729 $ 403,098
Schedule of condensed consolidating statements of cash flows	Condensed Consolidating Statements of Cash Flows for the Nine-Month Period Ended December 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) Net cash provided by (used in) operating activities $ 520,709 $ (354,918 ) $ 847,430 $ (33 ) $ 1,013,188 Cash flows from investing activities: Purchases of property and equipment, net of proceeds from disposal — (134,755 ) (250,812 ) 27 (385,540 ) Acquisition of businesses, net of cash acquired — (73,469 ) (106,790 ) — (180,259 ) Proceeds from divestiture of businesses, net of cash held in divested businesses — 20,500 15,573 — 36,073 Investing cash flows to affiliates (840,082 ) (3,334,220 ) (532,400 ) 4,706,702 — Other investing activities, net (61,213 ) (7,823 ) 19,332 — (49,704 ) Net cash used in investing activities (901,295 ) (3,529,767 ) (855,097 ) 4,706,729 (579,430 ) Cash flows from financing activities: Proceeds from bank borrowings and long-term debt 204,916 — 602 — 205,518 Repayments of bank borrowings, long-term debt and capital lease obligations (106,547 ) (4,460 ) (4,082 ) — (115,089 ) Payments for repurchases of ordinary shares (259,658 ) — — — (259,658 ) Net proceeds from issuance of ordinary shares 11,978 — — — 11,978 Financing cash flows from affiliates 790,398 3,813,276 103,022 (4,706,696 ) — Other financing activities, net 30,000 (11,347 ) (65,955 ) — (47,302 ) Net cash provided by financing activities 671,087 3,797,469 33,587 (4,706,696 ) (204,553 ) Effect of exchange rates on cash and cash equivalents (81,563 ) 2,713 99,171 — 20,321 Net increase (decrease) in cash and cash equivalents 208,938 (84,503 ) 125,091 — 249,526 Cash and cash equivalents, beginning of period 734,869 148,201 724,500 — 1,607,570 Cash and cash equivalents, end of period $ 943,807 $ 63,698 $ 849,591 $ — $ 1,857,096 Condensed Consolidating Statements of Cash Flows for the Nine-Month Period Ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) Net cash provided by (used in) operating activities $ 343,182 $ (93,746 ) $ 690,336 $ — $ 939,772 Cash flows from investing activities: Purchases of property and equipment, net of proceeds from disposal — (128,011 ) (285,928 ) 5 (413,934 ) Acquisition and divestiture of businesses, net of cash acquired and cash held in divested business — (809,233 ) (94,612 ) — (903,845 ) Proceeds from divestiture of business, net of cash held in divested business — — 3,603 — 3,603 Investing cash flows to affiliates (1,099,775 ) (923,812 ) (1,087,520 ) 3,111,107 — Other investing activities, net (2,046 ) (23,270 ) 26,713 — 1,397 Net cash used in investing activities (1,101,821 ) (1,884,326 ) (1,437,744 ) 3,111,112 (1,312,779 ) Cash flows from financing activities: Proceeds from bank borrowings and long-term debt 695,309 — 60,375 — 755,684 Repayments of bank borrowings, long-term debt and capital lease obligations (35,638 ) (1,333 ) (3,735 ) — (40,706 ) Payments for repurchases of ordinary shares (331,690 ) — — — (331,690 ) Net proceeds from issuance of ordinary shares 52,950 — — — 52,950 Financing cash flows from affiliates 632,750 1,996,352 482,010 (3,111,112 ) — Other financing activities, net — — (49,742 ) — (49,742 ) Net cash provided by financing activities 1,013,681 1,995,019 488,908 (3,111,112 ) 386,496 Effect of exchange rates on cash and cash equivalents 4,101 2,143 (13,947 ) — (7,703 ) Net decrease (increase) in cash and cash equivalents 259,143 19,090 (272,447 ) — 5,786 Cash and cash equivalents, beginning of period 608,971 168,272 851,165 — 1,628,408 Cash and cash equivalents, end of period $ 868,114 $ 187,362 $ 578,718 $ — $ 1,634,194

ORGANIZATION OF THE COMPANY A35

ORGANIZATION OF THE COMPANY AND BASIS OF PRESENTATION (Details)	3 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jul. 01, 2016	Dec. 31, 2015	Sep. 25, 2015	Jun. 26, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal period duration	92 days	91 days	92 days	97 days	91 days	87 days

BALANCE SHEET ITEMS - Inventor

BALANCE SHEET ITEMS - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016
Inventories
Raw materials	$ 2,399,270	$ 2,234,512
Work-in-progress	436,289	561,282
Finished goods	658,058	695,862
Inventories, total	$ 3,493,617	$ 3,491,656

BALANCE SHEET ITEMS - Goodwill

BALANCE SHEET ITEMS - Goodwill and Other Intangible Assets (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2016USD ($)businesssegment	Mar. 31, 2016USD ($)
Goodwill [Line Items]
Number of operating segments | segment	4
Activity in goodwill account
Divestitures	$ (4,400)
Number of non-strategic business | business	2
Gross Carrying Amount	$ 534,731	$ 508,099
Accumulated Amortization	(163,128)	(104,345)
Net Carrying Amount	371,603	403,754
Customer-related intangibles
Activity in goodwill account
Gross Carrying Amount	254,991	223,046
Accumulated Amortization	(96,655)	(66,473)
Net Carrying Amount	158,336	156,573
Licenses and other intangibles
Activity in goodwill account
Gross Carrying Amount	279,740	285,053
Accumulated Amortization	(66,473)	(37,872)
Net Carrying Amount	213,267	$ 247,181
Operating Segments
Activity in goodwill account
Balance, beginning of the year	942,066
Additions	57,518
Divestitures	(4,427)
Purchase accounting adjustments	794
Foreign currency translation adjustments	(30,233)
Balance, end of the period	965,718
Operating Segments | HRS
Activity in goodwill account
Balance, beginning of the year	439,336
Additions	0
Divestitures	(1,787)
Purchase accounting adjustments	794
Foreign currency translation adjustments	(30,233)
Balance, end of the period	$ 408,110
Number of non-strategic business | business	2
Operating Segments | CTG
Activity in goodwill account
Balance, beginning of the year	$ 68,234
Additions	39,791
Divestitures	0
Purchase accounting adjustments	0
Foreign currency translation adjustments	0
Balance, end of the period	108,025
Operating Segments | IEI
Activity in goodwill account
Balance, beginning of the year	322,803
Additions	17,727
Divestitures	(2,640)
Purchase accounting adjustments	0
Foreign currency translation adjustments	0
Balance, end of the period	337,890
Operating Segments | CEC
Activity in goodwill account
Balance, beginning of the year	111,693
Additions	0
Divestitures	0
Purchase accounting adjustments	0
Foreign currency translation adjustments	0
Balance, end of the period	111,693
Mirror Controls International | Operating Segments | HRS
Activity in goodwill account
Foreign currency translation adjustments	$ 30,200

BALANCE SHEET ITEMS - Future A

BALANCE SHEET ITEMS - Future Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016
Estimated future annual amortization expense for acquired intangible assets
2,017	$ 17,977
2,018	66,810
2,019	60,038
2,020	51,054
2,021	46,953
Thereafter	128,771
Net Carrying Amount	$ 371,603	$ 403,754

BALANCE SHEET ITEMS - Addition

BALANCE SHEET ITEMS - Additional Information (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2016USD ($)business	Dec. 31, 2015USD ($)	Sep. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Sep. 25, 2015USD ($)	Mar. 31, 2015USD ($)
Components of acquired intangible assets
Number of acquisitions completed | business		3
Other current assets related to purchase of assets on behalf of customer financed by a third party banking institution					$ 83,600
Customer working capital advances	$ 228,000	$ 228,000			253,700
Customer related accruals	494,500	494,500			479,500
Deferred revenue	311,300	311,300			332,300
Other current liability for purchase of assets on behalf of customer financed by a third party banking institution					122,000
Customer-related third party banking institution financing net settlement	90,600	90,576	$ 0
Asset-Backed Securitization Programs
Components of acquired intangible assets
Transferor's interests in transferred financial assets, fair value	668,918	$ 668,918	$ 534,695	$ 461,544	$ 501,097	$ 537,619	$ 600,672
YTWO Formative Joint Venture [Member] | RIB Software AG
Components of acquired intangible assets
Payments to acquire interest in joint venture	$ 60,000

SHARE-BASED COMPENSATION - Loc

SHARE-BASED COMPENSATION - Location of Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Share-based compensation
Share-based compensation expense	$ 20,781	$ 24,233	$ 67,311	$ 56,559
Cost of sales
Share-based compensation
Share-based compensation expense	2,437	2,407	7,506	6,440
Selling, general and administrative expenses
Share-based compensation
Share-based compensation expense	$ 18,344	$ 21,826	$ 59,805	$ 50,119

SHARE-BASED COMPENSATION - Ad

SHARE-BASED COMPENSATION - Additional Information (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares
Share options
Share-based compensation
Options exercisable (shares)	200,000
2010 Equity Incentive Plan | Share options
Share-based compensation
Share options outstanding (shares)	200,000
Options outstanding, weighted average exercise price (usd per share) | $ / shares	$ 8.97
Weighted average exercise price of exercisable shares (usd per share) | $ / shares	$ 8.93
2010 Equity Incentive Plan | Restricted Stock Units, Share Bonus Awards with Market Conditions, and Share Bonus Awards With Free Cash Flow Targets
Share-based compensation
Unvested share bonus awards granted (shares)	6,300,000
Number of shares outstanding (shares)	15,800,000
Unrecognized compensation expense | $	$ 139.2
Share weighted-average remaining vesting period	2 years 7 months 6 days
2010 Equity Incentive Plan | Restricted Stock Units
Share-based compensation
Unvested share bonus awards granted (shares)	5,400,000
Average grant date price of unvested share bonus awards (usd per share) | $ / shares	$ 12.93
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions
Share-based compensation
Number of shares outstanding (shares)	2,300,000
Unrecognized compensation expense | $	$ 22.6
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Fiscal 2013
Share-based compensation
Shares vested (shares)	3,500,000
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Minimum
Share-based compensation
Number of shares that may be issued (shares)	0
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Maximum
Share-based compensation
Number of shares that may be issued (shares)	4,600,000
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Key employees
Share-based compensation
Unvested share bonus awards granted (shares)	700,000
Average grant date price of unvested share bonus awards (usd per share) | $ / shares	$ 17.57
Vesting period	3 years
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Key employees | Minimum
Share-based compensation
Unvested share bonus awards granted (shares)	0
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Key employees | Maximum
Share-based compensation
Unvested share bonus awards granted (shares)	1,400,000
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Certain executive officers
Share-based compensation
Vesting period	3 years
Measurement period	3 years
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Certain executive officers | Minimum
Share-based compensation
Unvested share bonus awards granted (shares)	0
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Certain executive officers | Maximum
Share-based compensation
Unvested share bonus awards granted (shares)	400,000
2010 Equity Incentive Plan | Share Bonus Awards With Free Cash Flow Targets | Certain executive officers
Share-based compensation
Unvested share bonus awards granted (shares)	200,000
Nonvested average grant date price (usd per share) | $ / shares	$ 12.82
2014 NEXTracker Equity Incentive Plan
Share-based compensation
Number of shares outstanding (shares)	1,600,000
Unrecognized compensation expense | $	$ 10.7
Share weighted-average remaining vesting period	1 year 9 months 18 days
Options granted in period (shares)	0
2014 NEXTracker Equity Incentive Plan | Share options
Share-based compensation
Share options outstanding (shares)	1,800,000
Options outstanding, weighted average exercise price (usd per share) | $ / shares	$ 3.54
Weighted average exercise price of exercisable shares (usd per share) | $ / shares	$ 4.48
Share weighted-average remaining vesting period	2 years 1 month 6 days
Options exercisable (shares)	400,000
Compensation not yet recognized | $	$ 9.2
BrightBox Technologies 2013 Plan | Share options
Share-based compensation
Share options outstanding (shares)	200,000
Options outstanding, weighted average exercise price (usd per share) | $ / shares	$ 0.51
Vesting period	3 years
Share weighted-average remaining vesting period	2 years 4 months 24 days
Options granted in period (shares)	200,000
Options exercisable (shares)	0
Grants in period, weighted average grant date fair value (usd per share) | $ / shares	$ 11.99
Compensation not yet recognized | $	$ 1.5

EARNINGS PER SHARE - Calculati

EARNINGS PER SHARE - Calculation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Basic earnings per share:
Net income	$ 129,469	$ 148,910	$ 232,690	$ 382,737
Shares used in computation:
Weighted-average ordinary shares outstanding (in shares)	539,638	554,919	542,780	561,070
Basic earnings per share (in dollars per share)	$ 0.24	$ 0.27	$ 0.43	$ 0.68
Diluted earnings per share:
Net income	$ 129,469	$ 148,910	$ 232,690	$ 382,737
Shares used in computation:
Weighted-average ordinary shares outstanding (in shares)	539,638	554,919	542,780	561,070
Weighted-average ordinary share equivalents from stock options and awards (in shares)	5,384	6,077	5,592	7,856
Weighted-average ordinary shares and ordinary share equivalents outstanding (in shares)	545,022	560,996	548,372	568,926
Diluted earnings per share (in dollars per share)	$ 0.24	$ 0.27	$ 0.42	$ 0.67

EARNINGS PER SHARE - Additiona

EARNINGS PER SHARE - Additional Information (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Options
Anti-diluted securities excluded from the computation of diluted earnings per share
Ordinary shares excluded from the computation of diluted earnings per share (shares)	0.5	2.1	0.7	1.2
Restricted Stock Units
Anti-diluted securities excluded from the computation of diluted earnings per share
Ordinary shares excluded from the computation of diluted earnings per share (shares)		0.1		3.5

BANK BORROWINGS AND LONG TERM44

BANK BORROWINGS AND LONG TERM DEBT - Debt Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016
Debt Instrument [Line Items]
Long-term debt	$ 2,883,327
Debt issuance costs	(16,487)	$ (17,351)
Total	2,866,840	2,774,555
Term Loan, including current portion, due in installments through March 2019
Debt Instrument [Line Items]
Long-term debt	525,000	547,500
4.625% Notes due February 2020
Debt Instrument [Line Items]
Long-term debt	$ 500,000	$ 500,000
Debt instrument interest rate (as a percent)	4.625%	4.625%
Term Loan, including current portion, due in installments through November 2021
Debt Instrument [Line Items]
Long-term debt	$ 700,000	$ 577,500
5.000% Notes due February 2023
Debt Instrument [Line Items]
Long-term debt	$ 500,000	$ 500,000
Debt instrument interest rate (as a percent)	5.00%	5.00%
4.750% Notes due June 2025
Debt Instrument [Line Items]
Long-term debt	$ 595,879	$ 595,589
Debt instrument interest rate (as a percent)	4.75%	4.75%
Other
Debt Instrument [Line Items]
Long-term debt	$ 62,448	$ 71,317

BANK BORROWINGS AND LONG TERM45

BANK BORROWINGS AND LONG TERM DEBT - Repayment of Long-term Debt (Details) $ in Thousands	Dec. 31, 2016USD ($)
Debt Disclosure [Abstract]
2,017	$ 11,579
2,018	58,504
2,019	486,317
2,020	517,567
2,021	64,648
Thereafter	1,744,712
Total	$ 2,883,327

BANK BORROWINGS AND LONG TERM46

BANK BORROWINGS AND LONG TERM DEBT - Additional Information (Details) $ in Thousands, € in Millions	Jan. 23, 2017EUR (€)	Nov. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Mar. 31, 2016	Aug. 30, 2013USD ($)
Debt Instrument [Line Items]
Long-term debt, weighted average interest rate			3.50%		3.50%
Incremental amount borrowed			$ 205,518	$ 755,684
Term Loan, including current portion, due in installments through November 2021
Debt Instrument [Line Items]
Loans payable						$ 600,000
Term Loan, including current portion, due in installments through November 2021
Debt Instrument [Line Items]
Loans payable			700,000
Incremental amount borrowed		$ 130,000
Quarterly payment			$ 4,100
LIBOR | Term Loan, including current portion, due in installments through November 2021 | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate			1.125%
LIBOR | Term Loan, including current portion, due in installments through November 2021 | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate			2.125%
Federal Funds Rate | Term Loan, including current portion, due in installments through November 2021
Debt Instrument [Line Items]
Basis spread on variable rate			0.50%
One-Month LIBOR | Term Loan, including current portion, due in installments through November 2021
Debt Instrument [Line Items]
Basis spread on variable rate			1.00%
Prime Rate | Term Loan, including current portion, due in installments through November 2021 | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate			0.125%
Prime Rate | Term Loan, including current portion, due in installments through November 2021 | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate			1.125%
Unsecured Debt | Term Loan Agreement
Debt Instrument [Line Items]
Debt instrument, face amount			$ 105,400
Unsecured Debt | Subsequent Event | Term Loan Agreement
Debt Instrument [Line Items]
Debt instrument, face amount | €	€ 100
Term of debt instrument	5 years

INTEREST AND OTHER, NET (Detail

INTEREST AND OTHER, NET (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
INTEREST AND OTHER, NET
Interest expense	$ 26.6	$ 26.2	$ 79.9	$ 71.4

OTHER CHARGES, NET (Details)

OTHER CHARGES, NET (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Supply Commitment [Line Items]
Other charges (income), net	$ 3,090	$ 44,415	$ 15,007	$ 46,257
Western Europe | Certain manufacturing facilities
Supply Commitment [Line Items]
Recognized loss in connection with disposition of a manufacturing facility		26,800		26,800
Non-Cash foreign currency translation loss		25,300		25,300
Impairment losses on investments				21,800
Foreign currency transaction gain		$ 4,200		$ 4,200

FINANCIAL INSTRUMENTS - Notion

FINANCIAL INSTRUMENTS - Notional Amount (Details) - 9 months ended Dec. 31, 2016 € in Thousands, ₪ in Thousands, ₨ in Thousands, ¥ in Thousands, £ in Thousands, SGD in Thousands, RON in Thousands, PLN in Thousands, MYR in Thousands, MXN in Thousands, HUF in Thousands, DKK in Thousands, BRL in Thousands, $ in Thousands

USD ($)

RON

GBP (£)

DKK

INR (₨)

ILS (₪)

BRL

PLN

MXN

SGD

MYR

HUF

EUR (€)

USD ($)

CNY (¥)

Notional amount

Deferred losses

$ 3,600

Forward and Swap Contracts

Notional amount

Notional contract value

$ 4,800,000

Forward and Swap Contracts | Buy

Notional amount

Notional contract value

2,514,259

Forward and Swap Contracts | Sell

Notional amount

Notional contract value

2,327,921

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Buy

Notional amount

Notional contract value

454,903

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Buy | CNY

Notional amount

Notional contract value

148,969

¥ 1,037,000

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Buy | EUR

Notional amount

Notional contract value

€ 36,268

37,693

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Buy | HUF

Notional amount

Notional contract value

HUF 16,053,300

54,006

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Buy | ILS

Notional amount

Notional contract value

₪ 86,441

22,413

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Buy | INR

Notional amount

Notional contract value

₨ 1,314,549

19,100

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Buy | MXN

Notional amount

Notional contract value

MXN 1,775,000

85,636

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Buy | MYR

Notional amount

Notional contract value

MYR 139,000

31,013

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Buy | RON

Notional amount

Notional contract value

RON 95,661

21,901

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Buy | Other

Notional amount

Notional contract value

34,172

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Sell

Notional amount

Notional contract value

78,277

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Sell | CNY

Notional amount

Notional contract value

0

0

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Sell | EUR

Notional amount

Notional contract value

56,358

64,046

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Sell | HUF

Notional amount

Notional contract value

0

0

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Sell | ILS

Notional amount

Notional contract value

0

0

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Sell | INR

Notional amount

Notional contract value

0

0

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Sell | MXN

Notional amount

Notional contract value

0

0

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Sell | MYR

Notional amount

Notional contract value

9,000

2,008

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Sell | RON

Notional amount

Notional contract value

RON 0

0

Forward and Swap Contracts | Derivatives designated as hedging instruments | Cash Flow Hedges | Sell | Other

Notional amount

Notional contract value

12,223

Forward and Swap Contracts | Economic hedges | Buy

Notional amount

Notional contract value

2,059,356

Forward and Swap Contracts | Economic hedges | Buy | BRL

Notional amount

Notional contract value

BRL 0

0

Forward and Swap Contracts | Economic hedges | Buy | CNY

Notional amount

Notional contract value

620,177

4,319,620

Forward and Swap Contracts | Economic hedges | Buy | DKK

Notional amount

Notional contract value

DKK 187,400

26,201

Forward and Swap Contracts | Economic hedges | Buy | EUR

Notional amount

Notional contract value

874,957

913,218

Forward and Swap Contracts | Economic hedges | Buy | GBP

Notional amount

Notional contract value

£ 35,110

42,969

Forward and Swap Contracts | Economic hedges | Buy | HUF

Notional amount

Notional contract value

29,285,732

98,522

Forward and Swap Contracts | Economic hedges | Buy | ILS

Notional amount

Notional contract value

62,640

16,241

Forward and Swap Contracts | Economic hedges | Buy | INR

Notional amount

Notional contract value

4,040,788

59,242

Forward and Swap Contracts | Economic hedges | Buy | MXN

Notional amount

Notional contract value

1,718,039

82,888

Forward and Swap Contracts | Economic hedges | Buy | MYR

Notional amount

Notional contract value

383,028

85,459

Forward and Swap Contracts | Economic hedges | Buy | PLN

Notional amount

Notional contract value

PLN 122,243

28,864

Forward and Swap Contracts | Economic hedges | Buy | SGD

Notional amount

Notional contract value

SGD 44,800

30,846

Forward and Swap Contracts | Economic hedges | Buy | Other

Notional amount

Notional contract value

54,729

Forward and Swap Contracts | Economic hedges | Sell

Notional amount

Notional contract value

2,249,644

Forward and Swap Contracts | Economic hedges | Sell | BRL

Notional amount

Notional contract value

BRL 443,000

134,946

Forward and Swap Contracts | Economic hedges | Sell | CNY

Notional amount

Notional contract value

292,391

¥ 2,035,392

Forward and Swap Contracts | Economic hedges | Sell | DKK

Notional amount

Notional contract value

DKK 157,200

21,979

Forward and Swap Contracts | Economic hedges | Sell | EUR

Notional amount

Notional contract value

€ 1,385,620

1,444,927

Forward and Swap Contracts | Economic hedges | Sell | GBP

Notional amount

Notional contract value

£ 65,145

79,940

Forward and Swap Contracts | Economic hedges | Sell | HUF

Notional amount

Notional contract value

HUF 24,552,611

82,599

Forward and Swap Contracts | Economic hedges | Sell | ILS

Notional amount

Notional contract value

₪ 59,420

15,407

Forward and Swap Contracts | Economic hedges | Sell | INR

Notional amount

Notional contract value

₨ 677,800

10,000

Forward and Swap Contracts | Economic hedges | Sell | MXN

Notional amount

Notional contract value

MXN 1,155,529

55,749

Forward and Swap Contracts | Economic hedges | Sell | MYR

Notional amount

Notional contract value

MYR 89,800

20,036

Forward and Swap Contracts | Economic hedges | Sell | PLN

Notional amount

Notional contract value

PLN 70,681

16,689

Forward and Swap Contracts | Economic hedges | Sell | SGD

Notional amount

Notional contract value

SGD 11,150

7,677

Forward and Swap Contracts | Economic hedges | Sell | Other

Notional amount

Notional contract value

$ 67,304

FINANCIAL INSTRUMENTS - Foreig

FINANCIAL INSTRUMENTS - Foreign Currency Risk Management (Details) - Foreign currency contracts - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016
Other current assets | Derivatives designated as hedging instruments
Fair Values of Derivative Instruments
Asset Derivatives	$ 7,681	$ 5,510
Other current assets | Economic hedges
Fair Values of Derivative Instruments
Asset Derivatives	20,254	17,138
Other current liabilities | Derivatives designated as hedging instruments
Fair Values of Derivative Instruments
Liability Derivatives	9,933	2,446
Other current liabilities | Economic hedges
Fair Values of Derivative Instruments
Liability Derivatives	$ 12,995	$ 18,645

ACCUMULATED OTHER COMPREHENSI51

ACCUMULATED OTHER COMPREHENSIVE LOSS - Changes in AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ (122,552)	$ (200,704)	$ (135,915)	$ (180,505)
Other comprehensive gain (loss) before reclassifications	(35,124)	15,165	(20,502)	(26,890)
Net (gains) losses reclassified from accumulated other comprehensive loss	(1,489)	25,395	(2,748)	47,251
Net current-period other comprehensive gain (loss)	(36,613)	40,560	(23,250)	20,361
Ending balance	(159,165)	(160,144)	(159,165)	(160,144)
Unrealized loss on derivative instruments and other
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(42,233)	(60,981)	(41,522)	(68,266)
Other comprehensive gain (loss) before reclassifications	(1,354)	5,941	(1,031)	(8,478)
Net (gains) losses reclassified from accumulated other comprehensive loss	1,153	4,556	119	26,260
Net current-period other comprehensive gain (loss)	(201)	10,497	(912)	17,782
Ending balance	(42,434)	(50,484)	(42,434)	(50,484)
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(80,319)	(139,723)	(94,393)	(112,239)
Other comprehensive gain (loss) before reclassifications	(33,770)	9,224	(19,471)	(18,412)
Net (gains) losses reclassified from accumulated other comprehensive loss	(2,642)	20,839	(2,867)	20,991
Net current-period other comprehensive gain (loss)	(36,412)	30,063	(22,338)	2,579
Ending balance	$ (116,731)	$ (109,660)	$ (116,731)	$ (109,660)

ACCUMULATED OTHER COMPREHENSI52

ACCUMULATED OTHER COMPREHENSIVE LOSS - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2015	Dec. 31, 2015
Unrealized gain (loss) on derivative instruments and other | Reclassification out of accumulated other comprehensive income
Reclassification
Cost of sales		$ 24.7
Western Europe | Certain manufacturing facilities
Reclassification
Recognized loss in connection with disposition of a manufacturing facility	$ 26.8	26.8
Non-Cash foreign currency translation loss	25.3	25.3
Foreign currency transaction gain	$ 4.2	$ 4.2

TRADE RECEIVABLES SECURITIZAT53

TRADE RECEIVABLES SECURITIZATION (Details)	3 Months Ended		9 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2016USD ($)program	Dec. 31, 2015USD ($)	Mar. 31, 2016USD ($)
Trade Receivables Securitization disclosures
Servicing assets	$ 0	$ 0	$ 0	$ 0
Servicing liabilities	0	0	$ 0	0
Asset-Backed Securitization Programs
Trade Receivables Securitization disclosures
Number of asset-backed securitization programs | program			2
Percentage of receivables sold to unaffiliated institutions			100.00%
Company's accounts receivables sold to third-party	1,700,000,000		$ 1,700,000,000		$ 1,400,000,000
Amount received from accounts receivable sold to third-party	1,000,000,000		1,000,000,000		880,800,000
Cash proceeds from sale of accounts receivable			4,200,000,000	3,900,000,000
Cash flows from new transfers of receivables			315,100,000	355,100,000
Activity in the deferred purchase price receivables account
Beginning balance	461,544,000	537,619,000	501,097,000	600,672,000
Transfers of receivables	919,766,000	920,370,000	2,442,490,000	2,671,095,000
Collections	(712,392,000)	(923,294,000)	(2,274,669,000)	(2,737,072,000)
Ending balance	$ 668,918,000	534,695,000	$ 668,918,000	534,695,000
Asset-Backed Securitization Programs | Minimum
Trade Receivables Securitization disclosures
Service fee received, percent	0.10%		0.10%
Asset-Backed Securitization Programs | Maximum
Trade Receivables Securitization disclosures
Service fee received, percent	0.50%		0.50%
Global Program
Trade Receivables Securitization disclosures
Investment limits with financial institution	$ 850,000,000		$ 850,000,000
Global Program | Committed
Trade Receivables Securitization disclosures
Investment limits with financial institution	750,000,000		750,000,000
Global Program | Uncommitted
Trade Receivables Securitization disclosures
Investment limits with financial institution	100,000,000		100,000,000
North American Program
Trade Receivables Securitization disclosures
Investment limits with financial institution	250,000,000		250,000,000
North American Program | Committed
Trade Receivables Securitization disclosures
Investment limits with financial institution	210,000,000		210,000,000
North American Program | Uncommitted
Trade Receivables Securitization disclosures
Investment limits with financial institution	40,000,000		40,000,000
Sales of Receivables to Third Party Banks
Trade Receivables Securitization disclosures
Company's accounts receivables sold to third-party	1,000,000,000	$ 1,800,000,000	1,000,000,000	$ 1,800,000,000
Activity in the deferred purchase price receivables account
Receivables sold but not yet collected from banking institutions	$ 209,500,000		$ 209,500,000		$ 339,100,000

FAIR VALUE MEASUREMENT OF ASS54

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES - Additional Information (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Transfers out of Level 1 and into Level 2 related to assets and liabilities measured on a recurring and nonrecurring basis	$ 0	$ 0
Transfers out of Level 2 and into Level 1 related to assets and liabilities measured on a recurring and nonrecurring basis	0	0
Transfers out of Level 1 and into Level 2 related to liabilities measured on a recurring and nonrecurring basis	0	0
Transfers out of Level 2 and into Level 1 related to liabilities measured on a recurring and nonrecurring basis	$ 0	$ 0

FAIR VALUE MEASUREMENT OF ASS55

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES - Contingent Consideration Activities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Contingent Consideration Liability [Roll Forward]
Beginning balance	$ 75,614	$ 4,500	$ 73,423	$ 4,500
Additions to accrual	0	81,000	0	81,000
Payments	(40,555)	0	(42,776)	0
Fair value adjustments	(6,997)	4,000	(2,585)	4,000
Ending balance	$ 28,062	89,500	$ 28,062	$ 89,500
Nextracker
Contingent Consideration Liability [Roll Forward]
Additions to accrual		$ 81,000

FAIR VALUE MEASUREMENT OF ASS56

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES - Assets and Liabilities Measured at Fair Value (Details) - Recurring Basis - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016
Money market funds and time deposits
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	$ 751,027	$ 1,074,132
Deferred purchase price receivable (Note 10)
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	668,918	501,097
Foreign exchange contracts (Note 8)
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	27,935	22,648
Total Liabilities	(22,928)	(21,091)
Deferred compensation plan assets: Mutual funds, money market accounts and equity securities
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	57,208	49,784
Contingent consideration in connection with business acquisitions
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Liabilities	(28,062)	(73,423)
Level 1 | Money market funds and time deposits
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	0	0
Level 1 | Deferred purchase price receivable (Note 10)
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	0	0
Level 1 | Foreign exchange contracts (Note 8)
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	0	0
Total Liabilities	0	0
Level 1 | Deferred compensation plan assets: Mutual funds, money market accounts and equity securities
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	6,686	9,228
Level 1 | Contingent consideration in connection with business acquisitions
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Liabilities	0	0
Level 2 | Money market funds and time deposits
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	751,027	1,074,132
Level 2 | Deferred purchase price receivable (Note 10)
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	0	0
Level 2 | Foreign exchange contracts (Note 8)
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	27,935	22,648
Total Liabilities	(22,928)	(21,091)
Level 2 | Deferred compensation plan assets: Mutual funds, money market accounts and equity securities
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	50,522	40,556
Level 2 | Contingent consideration in connection with business acquisitions
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Liabilities	0	0
Level 3 | Money market funds and time deposits
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	0	0
Level 3 | Deferred purchase price receivable (Note 10)
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	668,918	501,097
Level 3 | Foreign exchange contracts (Note 8)
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	0	0
Total Liabilities	0	0
Level 3 | Deferred compensation plan assets: Mutual funds, money market accounts and equity securities
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	0	0
Level 3 | Contingent consideration in connection with business acquisitions
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Liabilities	$ (28,062)	$ (73,423)

FAIR VALUE MEASUREMENT OF ASS57

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES - Debt Not Carried at Fair Value (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2016EUR (€)	Dec. 31, 2016USD ($)	Mar. 31, 2016USD ($)
4.625% Notes due February 2020
Other financial instruments
Debt instrument interest rate (as a percent)	4.625%	4.625%	4.625%
5.000% Notes due February 2023
Other financial instruments
Debt instrument interest rate (as a percent)	5.00%	5.00%	5.00%
4.750% Notes due June 2025
Other financial instruments
Debt instrument interest rate (as a percent)	4.75%	4.75%	4.75%
Level 1 | 4.625% Notes due February 2020
Other financial instruments
Debt instrument interest rate (as a percent)	4.625%	4.625%	4.625%
Level 1 | 5.000% Notes due February 2023
Other financial instruments
Debt instrument interest rate (as a percent)	5.00%	5.00%	5.00%
Level 1 | 4.750% Notes due June 2025
Other financial instruments
Debt instrument interest rate (as a percent)	4.75%	4.75%	4.75%
Carrying Amount
Other financial instruments
Fair Value		$ 2,820,879	$ 2,720,589
Carrying Amount | Level 1 | Term Loan, including current portion, due in installments through March 2019
Other financial instruments
Fair Value		525,000	547,500
Carrying Amount | Level 1 | 4.625% Notes due February 2020
Other financial instruments
Fair Value		500,000	500,000
Carrying Amount | Level 1 | Term Loan, including current portion, due in installments through November 2021
Other financial instruments
Fair Value		700,000	577,500
Carrying Amount | Level 1 | 5.000% Notes due February 2023
Other financial instruments
Fair Value		500,000	500,000
Carrying Amount | Level 1 | 4.750% Notes due June 2025
Other financial instruments
Fair Value		595,879	595,589
Fair Value
Other financial instruments
Fair Value		2,919,454	2,753,403
Fair Value | Level 1 | Term Loan, including current portion, due in installments through March 2019
Other financial instruments
Fair Value		524,675	542,709
Fair Value | Level 1 | 4.625% Notes due February 2020
Other financial instruments
Fair Value		525,740	524,735
Fair Value | Level 1 | Term Loan, including current portion, due in installments through November 2021
Other financial instruments
Fair Value		696,941	573,533
Fair Value | Level 1 | 5.000% Notes due February 2023
Other financial instruments
Fair Value		532,810	507,500
Fair Value | Level 1 | 4.750% Notes due June 2025
Other financial instruments
Fair Value		639,288	$ 604,926
Mirror Controls International
Other financial instruments
Debt instrument, face amount	€ 49,700,000	$ 52,300
Term of debt instrument	5 years

BUSINESS AND ASSET ACQUISITIO58

BUSINESS AND ASSET ACQUISITIONS & DIVESTITURES (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2016USD ($)acquisitionbusiness	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Number of acquisitions completed | business			3
Acquisition of businesses, net of cash acquired			$ 180,259	$ 903,845
Net income	$ 129,469	$ 148,910	$ 232,690	382,737
Pro forma net income		111,400		322,000
Maximum time to complete final allocation of purchase price			12 months
Number of non-strategic business | business			2
Proceeds from divestiture of business			$ 33,000
Bose
Business Acquisition [Line Items]
Number of acquisitions completed | business			2
Acquisition of businesses, net of cash acquired			$ 161,900
Cash acquired from acquisitions			17,800
Inventory	69,800		69,800
Property and equipment	66,000		66,000
Accrual recorded for acquisition			$ 28,000
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Number of acquisitions completed | acquisition			3
Acquisition of businesses, net of cash acquired			$ 179,700
Goodwill	57,500		57,500
Intangible assets	44,900		44,900
Assumed liabilities	$ 60,800		$ 60,800
Net income		$ 29,500		$ 34,400
Customer-related intangibles | Bose
Business Acquisition [Line Items]
Weighted average useful life			7 years 4 months 24 days

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) BRL in Millions, $ in Millions	Dec. 31, 2016USD ($)	Mar. 31, 2016BRL	Dec. 31, 2013BRL	Dec. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2016tax_assessment
Loss Contingencies [Line Items]
Income tax examination, number of tax assessments | tax_assessment						2
BRAZIL | Assessment of Sales and Import Taxes
Loss Contingencies [Line Items]
Income tax examination, estimate of possible loss	$ 34		BRL 109
BRAZIL | Proposed Additional Assessment of Sales and Import Taxes
Loss Contingencies [Line Items]
Income tax examination, estimate of possible loss	$ 56	BRL 181
Income and Social Contribution Taxes, Interest and Penalties | BRAZIL
Loss Contingencies [Line Items]
Amount of assessment related to income and social contribution taxes interest and penalties received					$ 100
Loss contingency accrual adjustment				$ 0

SHARE REPURCHASES (Details)

SHARE REPURCHASES (Details) - USD ($) shares in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Aug. 24, 2016
Treasury Stock, Number of Shares and Restriction Disclosures [Abstract]
Aggregate shares repurchased (in shares)	5.2	19.5
Aggregate purchase value of shares repurchased	$ 75,000,000	$ 255,900,000
Authorized amount of stock repurchase program			$ 500,000,000
Amount remaining to be repurchased under the plans	$ 375,200,000	$ 375,200,000

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) $ in Thousands	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment					4
Net sales		$ 6,114,999		$ 6,763,177	$ 18,000,337	$ 18,646,187
Intangible amortization		18,734		19,319	62,318	43,117
Stock-based compensation		20,781		24,233	67,311	56,559
Inventory impairment and other		0		0	92,915	0
Restructuring		17,421		0	28,960	0
Other charges, net		3,090		44,415	15,007	46,257
Interest and other, net		22,838		21,566	71,869	60,106
Income before income taxes		140,242		126,550	271,907	385,446
Operating Segments
Segment Reporting Information [Line Items]
Net sales		6,114,999		6,763,177	18,000,337	18,646,187
Total segment income		223,106		236,083	610,287	591,485
Operating Segments | CEC
Segment Reporting Information [Line Items]
Net sales		2,102,321		2,469,099	6,400,233	6,640,626
Total segment income		62,109		75,578	176,460	198,400
Operating Segments | Consumer Technologies Group
Segment Reporting Information [Line Items]
Net sales		1,848,970		2,057,850	4,827,488	5,633,903
Total segment income		59,282		49,032	139,230	129,045
Operating Segments | Industrial & Emerging Industries
Segment Reporting Information [Line Items]
Net sales		1,140,366		1,214,225	3,672,103	3,490,205
Total segment income		39,681		49,230	127,020	110,498
Operating Segments | High Reliability Solutions
Segment Reporting Information [Line Items]
Net sales		1,023,342		1,022,003	3,100,513	2,881,453
Total segment income		82,729		82,806	249,972	213,890
Operating Segments | Corporate and Other
Segment Reporting Information [Line Items]
Total segment income		(20,695)		$ (20,563)	(82,395)	$ (60,348)
SunEdison, Inc
Segment Reporting Information [Line Items]
Inventory impairment and other					92,900
Sales returns			$ 90,000
Allowance for sales returns	$ 61,000
Inventory adjustments		$ 60,000			60,000
Impairment of equipment					16,000
Other costs					$ 16,900

SUPPLEMENTAL GUARANTOR AND NO62

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Additional Information (Details) $ in Millions	9 Months Ended
	Dec. 31, 2016USD ($)tranche
Bank borrowings and long-term debt
Number of tranches | tranche	3
Percentage of ownership interest owned in subsidiaries that guarantees indebtedness	100.00%
4.625% Notes due February 2020
Bank borrowings and long-term debt
Maximum borrowing capacity	$ 500
5.000% Notes due February 2023
Bank borrowings and long-term debt
Maximum borrowing capacity	500
4.750% Notes due June 2025
Bank borrowings and long-term debt
Maximum borrowing capacity	$ 600

SUPPLEMENTAL GUARANTOR AND NO63

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Current assets:
Cash and cash equivalents	$ 1,857,096	$ 1,607,570	$ 1,634,194	$ 1,628,408
Accounts receivable	2,162,750	2,044,757
Inventories	3,493,617	3,491,656
Inter company receivable	0	0
Other current assets	1,100,159	1,171,143
Total current assets	8,613,622	8,315,126
Property and equipment, net	2,321,536	2,257,633
Goodwill and other intangible assets, net	1,337,321	1,345,820
Other assets	530,570	466,402
Investment in subsidiaries	0	0
Total assets	12,803,049	12,384,981
Current liabilities:
Bank borrowings and current portion of long-term debt	68,856	65,166
Accounts payable	4,699,734	4,248,292
Accrued payroll	357,922	353,547
Inter company payable	0	0
Other current liabilities	1,751,245	1,905,200
Total current liabilities	6,877,757	6,572,205
Long term liabilities	3,283,795	3,207,246
Flex Ltd. shareholders’ equity (deficit)	2,599,895	2,570,872
Noncontrolling interests	41,602	34,658
Total shareholders’ equity	2,641,497	2,605,530
Total liabilities and shareholders’ equity	12,803,049	12,384,981
Reportable legal entities | Parent
Current assets:
Cash and cash equivalents	943,807	734,869	868,114	608,971
Accounts receivable	0	0
Inventories	0	0
Inter company receivable	10,504,971	9,105,728
Other current assets	5,796	2,951
Total current assets	11,454,574	9,843,548
Property and equipment, net	0	0
Goodwill and other intangible assets, net	1,214	175
Other assets	2,211,872	2,249,145
Investment in subsidiaries	2,562,818	2,815,426
Total assets	16,230,478	14,908,294
Current liabilities:
Bank borrowings and current portion of long-term debt	63,365	58,836
Accounts payable	0	0
Accrued payroll	0	0
Inter company payable	10,728,155	9,562,405
Other current liabilities	28,349	33,008
Total current liabilities	10,819,869	9,654,249
Long term liabilities	2,810,714	2,683,173
Flex Ltd. shareholders’ equity (deficit)	2,599,895	2,570,872
Noncontrolling interests	0	0
Total shareholders’ equity	2,599,895	2,570,872
Total liabilities and shareholders’ equity	16,230,478	14,908,294
Reportable legal entities | Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	63,698	148,201	187,362	168,272
Accounts receivable	815,141	729,331
Inventories	1,521,272	1,482,410
Inter company receivable	7,802,175	5,568,392
Other current assets	187,215	180,842
Total current assets	10,389,501	8,109,176
Property and equipment, net	584,382	553,072
Goodwill and other intangible assets, net	85,894	60,895
Other assets	276,492	267,034
Investment in subsidiaries	3,456,295	3,038,002
Total assets	14,792,564	12,028,179
Current liabilities:
Bank borrowings and current portion of long-term debt	0	946
Accounts payable	1,734,186	1,401,835
Accrued payroll	99,464	114,509
Inter company payable	10,528,081	7,999,335
Other current liabilities	785,866	869,470
Total current liabilities	13,147,597	10,386,095
Long term liabilities	2,042,092	2,063,988
Flex Ltd. shareholders’ equity (deficit)	(397,125)	(421,904)
Noncontrolling interests	0	0
Total shareholders’ equity	(397,125)	(421,904)
Total liabilities and shareholders’ equity	14,792,564	12,028,179
Reportable legal entities | Non-Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	849,591	724,500	578,718	851,165
Accounts receivable	1,347,609	1,315,426
Inventories	1,972,345	2,009,246
Inter company receivable	14,601,712	12,404,722
Other current assets	907,148	987,350
Total current assets	19,678,405	17,441,244
Property and equipment, net	1,737,154	1,704,561
Goodwill and other intangible assets, net	1,250,213	1,284,750
Other assets	2,000,849	2,004,437
Investment in subsidiaries	17,947,038	18,175,348
Total assets	42,613,659	40,610,340
Current liabilities:
Bank borrowings and current portion of long-term debt	5,491	5,384
Accounts payable	2,965,548	2,846,457
Accrued payroll	258,458	239,038
Inter company payable	11,652,622	9,517,102
Other current liabilities	937,030	1,002,722
Total current liabilities	15,819,149	13,610,703
Long term liabilities	2,389,632	2,514,299
Flex Ltd. shareholders’ equity (deficit)	24,363,276	24,450,680
Noncontrolling interests	41,602	34,658
Total shareholders’ equity	24,404,878	24,485,338
Total liabilities and shareholders’ equity	42,613,659	40,610,340
Eliminations
Current assets:
Cash and cash equivalents	0	0	$ 0	$ 0
Accounts receivable	0	0
Inventories	0	0
Inter company receivable	(32,908,858)	(27,078,842)
Other current assets	0	0
Total current assets	(32,908,858)	(27,078,842)
Property and equipment, net	0	0
Goodwill and other intangible assets, net	0	0
Other assets	(3,958,643)	(4,054,214)
Investment in subsidiaries	(23,966,151)	(24,028,776)
Total assets	(60,833,652)	(55,161,832)
Current liabilities:
Bank borrowings and current portion of long-term debt	0	0
Accounts payable	0	0
Accrued payroll	0	0
Inter company payable	(32,908,858)	(27,078,842)
Other current liabilities	0	0
Total current liabilities	(32,908,858)	(27,078,842)
Long term liabilities	(3,958,643)	(4,054,214)
Flex Ltd. shareholders’ equity (deficit)	(23,966,151)	(24,028,776)
Noncontrolling interests	0	0
Total shareholders’ equity	(23,966,151)	(24,028,776)
Total liabilities and shareholders’ equity	$ (60,833,652)	$ (55,161,832)

SUPPLEMENTAL GUARANTOR AND NO64

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Condensed consolidating statements of operations
Net sales	$ 6,114,999	$ 6,763,177	$ 18,000,337	$ 18,646,187
Cost of sales	5,698,544	6,310,710	16,864,196	17,444,463
Gross profit	416,455	452,467	1,136,141	1,201,724
Selling, general and administrative expenses	231,551	240,617	715,040	666,798
Intangible amortization	18,734	19,319	62,318	43,117
Interest and other, net	25,928	65,981	86,876	106,363
Income before income taxes	140,242	126,550	271,907	385,446
Provision for (benefit from) income taxes	10,773	(22,360)	39,217	2,709
Equity in earnings in subsidiaries	0	0	0	0
Net income	129,469	148,910	232,690	382,737
Reportable legal entities | Parent
Condensed consolidating statements of operations
Net sales	0	0	0	0
Cost of sales	0	0	0	0
Gross profit	0	0	0	0
Selling, general and administrative expenses	0	0	0	0
Intangible amortization	25	75	175	225
Interest and other, net	(370,703)	49,358	(561,290)	(347,663)
Income before income taxes	370,678	(49,433)	561,115	347,438
Provision for (benefit from) income taxes	0	0	11	0
Equity in earnings in subsidiaries	(241,209)	198,343	(328,414)	35,299
Net income	129,469	148,910	232,690	382,737
Reportable legal entities | Guarantor Subsidiaries
Condensed consolidating statements of operations
Net sales	4,186,855	4,597,684	12,008,455	13,126,281
Cost of sales	3,722,516	4,187,076	10,822,629	11,972,388
Gross profit	464,339	410,608	1,185,826	1,153,893
Selling, general and administrative expenses	66,738	83,346	212,059	213,614
Intangible amortization	864	960	2,298	2,881
Interest and other, net	662,422	316,345	1,322,198	929,730
Income before income taxes	(265,685)	9,957	(350,729)	7,668
Provision for (benefit from) income taxes	(4,018)	(8,071)	(947)	(4,630)
Equity in earnings in subsidiaries	(71,920)	(88,988)	(136,175)	(140,241)
Net income	(333,587)	(70,960)	(485,957)	(127,943)
Reportable legal entities | Non-Guarantor Subsidiaries
Condensed consolidating statements of operations
Net sales	4,453,753	5,718,182	13,981,899	15,168,232
Cost of sales	4,501,637	5,676,323	14,031,584	15,120,401
Gross profit	(47,884)	41,859	(49,685)	47,831
Selling, general and administrative expenses	164,813	157,271	502,981	453,184
Intangible amortization	17,845	18,284	59,845	40,011
Interest and other, net	(265,791)	(299,722)	(674,032)	(475,704)
Income before income taxes	35,249	166,026	61,521	30,340
Provision for (benefit from) income taxes	14,791	(14,289)	40,153	7,339
Equity in earnings in subsidiaries	4,401	(10,534)	(69,935)	42,225
Net income	24,859	169,781	(48,567)	65,226
Eliminations
Condensed consolidating statements of operations
Net sales	(2,525,609)	(3,552,689)	(7,990,017)	(9,648,326)
Cost of sales	(2,525,609)	(3,552,689)	(7,990,017)	(9,648,326)
Gross profit	0	0	0	0
Selling, general and administrative expenses	0	0	0	0
Intangible amortization	0	0	0	0
Interest and other, net	0	0	0	0
Income before income taxes	0	0	0	0
Provision for (benefit from) income taxes	0	0	0	0
Equity in earnings in subsidiaries	308,728	(98,821)	534,524	62,717
Net income	$ 308,728	$ (98,821)	$ 534,524	$ 62,717

SUPPLEMENTAL GUARANTOR AND NO65

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Statement of Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Condensed consolidating statements of comprehensive income (loss)
Net income	$ 129,469	$ 148,910	$ 232,690	$ 382,737
Other comprehensive income (loss):
Foreign currency translation adjustments, net of zero tax	(36,412)	30,063	(22,338)	2,579
Unrealized gain (loss) on derivative instruments and other, net of zero tax	(201)	10,497	(912)	17,782
Comprehensive income	92,856	189,470	209,440	403,098
Reportable legal entities | Parent
Condensed consolidating statements of comprehensive income (loss)
Net income	129,469	148,910	232,690	382,737
Other comprehensive income (loss):
Foreign currency translation adjustments, net of zero tax	(36,412)	30,063	(22,338)	2,579
Unrealized gain (loss) on derivative instruments and other, net of zero tax	(201)	10,497	(912)	17,782
Comprehensive income	92,856	189,470	209,440	403,098
Reportable legal entities | Guarantor Subsidiaries
Condensed consolidating statements of comprehensive income (loss)
Net income	(333,587)	(70,960)	(485,957)	(127,943)
Other comprehensive income (loss):
Foreign currency translation adjustments, net of zero tax	58,791	62,209	68,972	5,025
Unrealized gain (loss) on derivative instruments and other, net of zero tax	3,443	4,099	6,942	9,884
Comprehensive income	(271,353)	(4,652)	(410,043)	(113,034)
Reportable legal entities | Non-Guarantor Subsidiaries
Condensed consolidating statements of comprehensive income (loss)
Net income	24,859	169,781	(48,567)	65,226
Other comprehensive income (loss):
Foreign currency translation adjustments, net of zero tax	35,660	50,828	57,055	(703)
Unrealized gain (loss) on derivative instruments and other, net of zero tax	(201)	10,497	(912)	17,782
Comprehensive income	60,318	231,106	7,576	82,305
Eliminations
Condensed consolidating statements of comprehensive income (loss)
Net income	308,728	(98,821)	534,524	62,717
Other comprehensive income (loss):
Foreign currency translation adjustments, net of zero tax	(94,451)	(113,037)	(126,027)	(4,322)
Unrealized gain (loss) on derivative instruments and other, net of zero tax	(3,242)	(14,596)	(6,030)	(27,666)
Comprehensive income	$ 211,035	$ (226,454)	$ 402,467	$ 30,729

SUPPLEMENTAL GUARANTOR AND NO66

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Statement of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Condensed consolidating statements of cash flows
Net cash provided by (used in) operating activities	$ 1,013,188	$ 939,772
Cash flows from investing activities:
Purchases of property and equipment, net of proceeds from disposal	(385,540)	(413,934)
Acquisition and divestiture of businesses, net of cash acquired and cash held in divested business	(180,259)	(903,845)
Proceeds from divestiture of businesses, net of cash held in divested businesses	36,073	3,603
Investing cash flows to affiliates	0	0
Other investing activities, net	(49,704)	1,397
Net cash used in investing activities	(579,430)	(1,312,779)
Cash flows from financing activities:
Proceeds from bank borrowings and long-term debt	205,518	755,684
Repayments of bank borrowings and long-term debt	(115,089)	(40,706)
Payments for repurchases of ordinary shares	(259,658)	(331,690)
Net proceeds from issuance of ordinary shares	11,978	52,950
Financing cash flows from affiliates	0	0
Other financing activities, net	(47,302)	(49,742)
Net cash (used in) provided by financing activities	(204,553)	386,496
Effect of exchange rates on cash and cash equivalents	20,321	(7,703)
Net increase in cash and cash equivalents	249,526	5,786
Cash and cash equivalents, beginning of period	1,607,570	1,628,408
Cash and cash equivalents, end of period	1,857,096	1,634,194
Reportable legal entities | Parent
Condensed consolidating statements of cash flows
Net cash provided by (used in) operating activities	520,709	343,182
Cash flows from investing activities:
Purchases of property and equipment, net of proceeds from disposal	0	0
Acquisition and divestiture of businesses, net of cash acquired and cash held in divested business	0	0
Proceeds from divestiture of businesses, net of cash held in divested businesses	0	0
Investing cash flows to affiliates	(840,082)	(1,099,775)
Other investing activities, net	(61,213)	(2,046)
Net cash used in investing activities	(901,295)	(1,101,821)
Cash flows from financing activities:
Proceeds from bank borrowings and long-term debt	204,916	695,309
Repayments of bank borrowings and long-term debt	(106,547)	(35,638)
Payments for repurchases of ordinary shares	(259,658)	(331,690)
Net proceeds from issuance of ordinary shares	11,978	52,950
Financing cash flows from affiliates	790,398	632,750
Other financing activities, net	30,000	0
Net cash (used in) provided by financing activities	671,087	1,013,681
Effect of exchange rates on cash and cash equivalents	(81,563)	4,101
Net increase in cash and cash equivalents	208,938	259,143
Cash and cash equivalents, beginning of period	734,869	608,971
Cash and cash equivalents, end of period	943,807	868,114
Reportable legal entities | Guarantor Subsidiaries
Condensed consolidating statements of cash flows
Net cash provided by (used in) operating activities	(354,918)	(93,746)
Cash flows from investing activities:
Purchases of property and equipment, net of proceeds from disposal	(134,755)	(128,011)
Acquisition and divestiture of businesses, net of cash acquired and cash held in divested business	(73,469)	(809,233)
Proceeds from divestiture of businesses, net of cash held in divested businesses	20,500	0
Investing cash flows to affiliates	(3,334,220)	(923,812)
Other investing activities, net	(7,823)	(23,270)
Net cash used in investing activities	(3,529,767)	(1,884,326)
Cash flows from financing activities:
Proceeds from bank borrowings and long-term debt	0	0
Repayments of bank borrowings and long-term debt	(4,460)	(1,333)
Payments for repurchases of ordinary shares	0	0
Net proceeds from issuance of ordinary shares	0	0
Financing cash flows from affiliates	3,813,276	1,996,352
Other financing activities, net	(11,347)	0
Net cash (used in) provided by financing activities	3,797,469	1,995,019
Effect of exchange rates on cash and cash equivalents	2,713	2,143
Net increase in cash and cash equivalents	(84,503)	19,090
Cash and cash equivalents, beginning of period	148,201	168,272
Cash and cash equivalents, end of period	63,698	187,362
Reportable legal entities | Non-Guarantor Subsidiaries
Condensed consolidating statements of cash flows
Net cash provided by (used in) operating activities	847,430	690,336
Cash flows from investing activities:
Purchases of property and equipment, net of proceeds from disposal	(250,812)	(285,928)
Acquisition and divestiture of businesses, net of cash acquired and cash held in divested business	(106,790)	(94,612)
Proceeds from divestiture of businesses, net of cash held in divested businesses	15,573	3,603
Investing cash flows to affiliates	(532,400)	(1,087,520)
Other investing activities, net	19,332	26,713
Net cash used in investing activities	(855,097)	(1,437,744)
Cash flows from financing activities:
Proceeds from bank borrowings and long-term debt	602	60,375
Repayments of bank borrowings and long-term debt	(4,082)	(3,735)
Payments for repurchases of ordinary shares	0	0
Net proceeds from issuance of ordinary shares	0	0
Financing cash flows from affiliates	103,022	482,010
Other financing activities, net	(65,955)	(49,742)
Net cash (used in) provided by financing activities	33,587	488,908
Effect of exchange rates on cash and cash equivalents	99,171	(13,947)
Net increase in cash and cash equivalents	125,091	(272,447)
Cash and cash equivalents, beginning of period	724,500	851,165
Cash and cash equivalents, end of period	849,591	578,718
Eliminations
Condensed consolidating statements of cash flows
Net cash provided by (used in) operating activities	(33)	0
Cash flows from investing activities:
Purchases of property and equipment, net of proceeds from disposal	27	5
Acquisition and divestiture of businesses, net of cash acquired and cash held in divested business	0	0
Proceeds from divestiture of businesses, net of cash held in divested businesses	0	0
Investing cash flows to affiliates	4,706,702	3,111,107
Other investing activities, net	0	0
Net cash used in investing activities	4,706,729	3,111,112
Cash flows from financing activities:
Proceeds from bank borrowings and long-term debt	0	0
Repayments of bank borrowings and long-term debt	0	0
Payments for repurchases of ordinary shares	0	0
Net proceeds from issuance of ordinary shares	0	0
Financing cash flows from affiliates	(4,706,696)	(3,111,112)
Other financing activities, net	0	0
Net cash (used in) provided by financing activities	(4,706,696)	(3,111,112)
Effect of exchange rates on cash and cash equivalents	0	0
Net increase in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	$ 0	$ 0