Flex (FLEX) 10-Q 1 Feb 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2015	Jan. 25, 2016
Document and Entity Information
Entity Registrant Name	FLEXTRONICS INTERNATIONAL LTD.
Entity Central Index Key	866,374
Document Type	10-Q
Document Period End Date	Dec. 31, 2015
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		548,585,484
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015
Current assets:
Cash and cash equivalents	$ 1,634,194	$ 1,628,408
Accounts receivable, net of allowance for doubtful accounts	2,584,909	2,337,515
Inventories	3,490,733	3,488,752
Other current assets	1,246,768	1,286,225
Total current assets	8,956,604	8,740,900
Property and equipment, net	2,239,921	2,092,167
Goodwill and other intangible assets, net	1,317,017	415,175
Other assets	535,976	417,382
Total assets	13,049,518	11,665,624
Current liabilities:
Bank borrowings and current portion of long-term debt	65,536	46,162
Accounts payable	4,802,194	4,561,194
Accrued payroll	360,009	339,739
Other current liabilities	1,924,532	1,809,128
Total current liabilities	7,152,271	6,756,223
Long-term debt, net of current portion	2,741,474	2,037,571
Other liabilities	$ 577,341	$ 475,580
Commitments and contingencies (Note 13)
Flextronics International Ltd. shareholders’ equity
Ordinary shares, no par value; 600,987,100 and 613,562,761 issued, and 550,747,745 and 563,323,406 outstanding as of December 31, 2015 and March 31, 2015, respectively	$ 7,045,170	$ 7,265,827
Treasury stock, at cost; 50,239,355 shares as of December 31, 2015 and March 31, 2015	(388,215)	(388,215)
Accumulated deficit	(3,953,556)	(4,336,293)
Accumulated other comprehensive loss	(160,144)	(180,505)
Total Flextronics International Ltd. shareholders’ equity	2,543,255	2,360,814
Noncontrolling interests	35,177	35,436
Total shareholders’ equity	2,578,432	2,396,250
Total liabilities and shareholders’ equity	$ 13,049,518	$ 11,665,624

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2015	Mar. 31, 2015
Statement of Financial Position [Abstract]
Ordinary shares, par value (in dollars per share)	$ 0	$ 0
Ordinary shares, issued	600,987,100	613,562,761
Ordinary shares, outstanding	550,747,745	563,323,406
Treasury stock, 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, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Net sales	$ 6,763,177	$ 7,025,054	$ 18,646,187	$ 20,196,316
Cost of sales	6,310,710	6,616,397	17,444,463	19,029,793
Gross profit	452,467	408,657	1,201,724	1,166,523
Selling, general and administrative expenses	240,617	215,993	666,798	629,860
Intangible amortization	19,319	8,045	43,117	23,228
Interest and other, net	21,566	9,035	60,106	40,178
Other charges (income), net	44,415	5,067	46,257	(41,526)
Income before income taxes	126,550	170,517	385,446	514,783
Provision for (benefit from) income taxes	(22,360)	17,618	2,709	49,094
Net income	$ 148,910	$ 152,899	$ 382,737	$ 465,689
Earnings per share
Basic (in dollars per share)	$ 0.27	$ 0.26	$ 0.68	$ 0.80
Diluted (in dollars per share)	$ 0.27	$ 0.26	$ 0.67	$ 0.78
Weighted-average shares used in computing per share amounts:
Basic (in shares)	554,919	577,157	561,070	583,383
Diluted (in shares)	560,996	587,201	568,926	594,791

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 148,910	$ 152,899	$ 382,737	$ 465,689
Other comprehensive income (loss):
Foreign currency translation adjustments, net of zero tax	30,063	(15,154)	2,579	(24,982)
Unrealized gain (loss) on derivative instruments and other, net of zero tax	10,497	(22,797)	17,782	(14,505)
Comprehensive income	$ 189,470	$ 114,948	$ 403,098	$ 426,202

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
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, 2015	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 382,737	$ 465,689
Depreciation, amortization and other impairment charges	381,949	404,260
Changes in working capital and other	175,086	(200,525)
Net cash provided by operating activities	939,772	669,424
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(418,561)	(254,970)
Proceeds from the disposition of property and equipment	4,627	90,576
Acquisition and divestiture of businesses, net of cash acquired and cash held in divested business	(900,242)	(58,132)
Other investing activities, net	1,397	(11,517)
Net cash used in investing activities	(1,312,779)	(234,043)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from bank borrowings and long-term debt	755,684	234,523
Repayments of bank borrowings and long-term debt	(40,706)	(251,337)
Payments for repurchases of ordinary shares	(331,690)	(290,752)
Net proceeds from issuance of ordinary shares	52,950	12,341
Other financing activities, net	(49,742)	(29,135)
Net cash provided by (used in) financing activities	386,496	(324,360)
Effect of exchange rates on cash and cash equivalents	(7,703)	2,472
Net increase in cash and cash equivalents	5,786	113,493
Cash and cash equivalents, beginning of period	1,628,408	1,593,728
Cash and cash equivalents, end of period	1,634,194	1,707,221
Non-cash investing activity:
Unpaid purchases of property and equipment	$ 82,024	$ 74,206

ORGANIZATION OF THE COMPANY AND

ORGANIZATION OF THE COMPANY AND BASIS OF PRESENTATION	9 Months Ended
	Dec. 31, 2015
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 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 ; 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 reportable segments: High Reliability Solutions ("HRS"), which is comprised of medical business including medical equipment, disposables, drug delivery, and diagnostics; our automotive business, including automotive electronics, automotive lighting, and power electronics; and defense and aerospace businesses focused on defense, civil aviation, and homeland security; Consumer Technology Group ("CTG"), which includes mobile devices business, including smart phones; consumer electronics business, including connected living, wearable electronics, digital health, game consoles, and connectivity devices; and high-volume computing business, including various supply chain solutions for notebook personal computing, tablets, and printers; 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 Integrated Network Solutions ("INS"), which 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 network; 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 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, 2015 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, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2016 . The first quarters for fiscal year 2016 and fiscal year 2015 ended on June 26, 2015 and June 27, 2014 , respectively. The second quarters for fiscal year 2016 and fiscal year 2015 ended on September 25, 2015 and September 26, 2014 , respectively. The Company's third quarters end on December 31 of each year. The accompanying unaudited condensed consolidated financial statements include the financial position and results of operations of a majority-owned subsidiary of the Company. Noncontrolling interests are presented as a separate component of total shareholders' equity in the condensed consolidated balance sheets. The operating results of the subsidiary attributable to the noncontrolling 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. Recent Accounting Pronouncement In November 2015, the Financial Accounting Standards Board (“FASB”) issued new guidance to eliminate the requirement for companies to separate deferred income tax liabilities and assets into current and noncurrent amounts on the balance sheet. Instead, companies will be required to classify all deferred tax liabilities and assets as noncurrent. The Company has elected to early adopt this new guidance during the third quarter of fiscal year 2016 on a prospective basis as permitted under the standard, resulting in the reclassification of $66.3 million of deferred income tax assets and $9.1 million of deferred income tax liabilities from current into noncurrent as of December 31, 2015. Prior periods were not retrospectively adjusted. In September 2015, the FASB issued new guidance to simplify the accounting for adjustments made to provisional amounts recognized in a business combination. Under previous guidance, the acquirer retrospectively adjusted the provisional amounts recognized at the acquisition date with a corresponding adjustment to goodwill, and would have to revise comparative information for prior periods presented in financial statements as needed. The update requires an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The Company has elected to early adopt this new guidance which is effective for the Company beginning the third quarter of fiscal year 2016. In July 2015, the FASB issued new guidance to simplify the measurement of inventory, by requiring that inventory be measured at the lower of cost and net realizable value. Prior to the issuance of the new guidance, inventory was measured at the lower of cost or market. This guidance is effective for the Company beginning in the first quarter of fiscal year 2018, with early application permitted as of the beginning of an interim or annual reporting period. The Company is currently assessing the impact of this update and the timing of adoption. In May 2014, the FASB issued new guidance which requires an entity to recognize revenue relating to contracts with customers that depicts the transfer of promised goods or services to customers in an amount reflecting the consideration to which the entity expects to be entitled in exchange for such goods or services. In order to meet this requirement, the entity must apply the following steps: (i) identify the contracts with the customers; (ii) identify performance obligations in the contracts; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations per the contracts; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. Additionally, disclosures required for revenue recognition will include qualitative and quantitative information about contracts with customers, significant judgments and changes in judgments, and assets recognized from costs to obtain or fulfill a contract. In July 2015, the FASB deferred the effective date of the standard by a year. This guidance is effective for the Company beginning in the first quarter of fiscal year 2019. The Company is in the process of assessing the impact on its consolidated financial statements.

BALANCE SHEET ITEMS

BALANCE SHEET ITEMS	9 Months Ended
	Dec. 31, 2015
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 As of (In thousands) Raw materials $ 2,266,843 $ 2,330,428 Work-in-progress 553,686 557,786 Finished goods 670,204 600,538 $ 3,490,733 $ 3,488,752 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, 2015 : HRS CTG IEI INS Amount (In thousands) Balance, beginning of the year $ 93,138 $ 68,234 $ 64,221 $ 108,038 $ 333,631 Additions (1) 330,346 — 253,312 3,575 587,233 Purchase accounting adjustments (2) 125 — — — 125 Foreign currency translation adjustments (4,755 ) — — — (4,755 ) Balance, end of the period $ 418,854 $ 68,234 $ 317,533 $ 111,613 $ 916,234 (1) The goodwill generated from the Company’s business combinations completed during the nine-month period ended December 31, 2015 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) 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. The components of acquired intangible assets are as follows: As of December 31, 2015 As of March 31, 2015 Gross Accumulated Net Gross Accumulated Net (In thousands) Intangible assets: Customer-related intangibles $ 258,079 $ (102,202 ) $ 155,877 $ 133,853 $ (80,506 ) $ 53,347 Licenses and other intangibles 275,322 (30,416 ) 244,906 39,985 (11,788 ) 28,197 Total $ 533,401 $ (132,618 ) $ 400,783 $ 173,838 $ (92,294 ) $ 81,544 The gross carrying amounts of intangible assets are removed when the recorded amounts have been fully amortized. During the nine-month period ended December 31, 2015 , the total value of intangible assets increased primarily in connection with the Company's acquisition of Mirror Controls International ("MCi") and NEXTracker Inc. ("NEXTracker"). The MCi acquisition contributed an additional $75.5 million in customer-related intangible assets, and $161.3 million in licenses and other intangible assets, and the NEXTracker acquisition contributed an additional $44.6 million in customer-related intangible assets and $55.9 million in licenses and other intangible assets. The assumptions used in the measurement of the intangible assets for the NEXTracker acquisition are subject to change upon the finalization of the valuation in the Company's fourth quarter ended March 31, 2016. See note 12 for additional information. The estimated future annual amortization expense for intangible assets is as follows: Fiscal Year Ending March 31, Amount (In thousands) 2016 (1) $ 21,198 2017 71,986 2018 57,887 2019 51,556 2020 43,315 Thereafter 154,841 Total amortization expense $ 400,783 ____________________________________________________________ (1) Represents estimated amortization for the remaining three -month period ending March 31, 2016 . Other Current Assets Other current assets includes approximately $534.7 million and $600.7 million as of December 31, 2015 and March 31, 2015 , 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. In connection with a prior acquisition, the Company entered into an agreement with a customer and a third party banking institution to procure certain manufacturing equipment that was financed by the third party banking institution, acting as an agent of the customer. The manufacturing equipment was used exclusively for the benefit of this customer. The Company cannot be required to pay cash by either the customer or the third party banking institution. During fiscal year 2015, the Company ceased manufacturing of the product related to the financed equipment. As a result, the Company as an agent on behalf of the customer is in the process of dispositioning the equipment and forwarding the proceeds to the third party banking institution reducing the outstanding obligation. Included in other current assets is the value of the certain assets purchased on behalf of a customer and financed by a third party banking institution in the amounts of $83.7 million and $169.2 million as of December 31, 2015 and March 31, 2015 , respectively. Additionally, other current assets as of December 31, 2015 includes an amount of $56.1 million relating to these assets that have been sold to third parties but not yet collected. During the nine-month period ended December 31, 2015 , the Company disposed of all of the assets and the remaining amount of $83.7 million reflects the shortfall between the original purchase price of these assets and the amount recovered by selling them to third parties. The Company expects this amount to be funded by the customer, which in turn would be paid back to the third party banking institution. Subsequent to December 31, 2015 , the Company agreed in principle to accept a return of previously shipped inventory from a customer of approximately $100.0 million . The inventory to be returned has been classified within other current assets, rather than inventory, as title had not transferred to the Company as of the end of the quarter. The revenue of approximately $17.9 million and cost of sales related to the return that had been recognized in prior periods was reversed in the quarter ended December 31, 2015 . The Company believes the remaining uncollected amount as of December 31, 2015 from this customer is recoverable. Other Current Liabilities Other current liabilities includes customer working capital advances of $181.7 million and $189.6 million , customer-related accruals of $472.6 million and $454.8 million , and deferred revenue of $329.4 million and $272.6 million as of December 31, 2015 and March 31, 2015 , 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. Other current liabilities also includes the outstanding balance due to the third party banking institution related to the financed equipment discussed above of $149.4 million and $197.7 million as of December 31, 2015 and March 31, 2015 , respectively.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
	Dec. 31, 2015
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 the third quarter ended December 31, 2015 , in conjunction with the acquisition of 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 these shares into Flex awards. As a result, the Company offers an additional equity compensation plan as of December 31, 2015 , the 2014 NEXTracker Equity Incentive Plan (the "NEXTracker Plan"). The following table summarizes the Company’s share-based compensation expense: Three-Month Periods Ended Nine-Month Periods Ended December 31, 2015 December 31, 2014 December 31, 2015 December 31, 2014 (In thousands) Cost of sales $ 2,407 $ 2,083 $ 6,440 $ 5,562 Selling, general and administrative expenses 21,826 12,136 50,119 31,259 Total share-based compensation expense $ 24,233 $ 14,219 $ 56,559 $ 36,821 The 2010 Equity Incentive Plan Total unrecognized compensation expense related to share options under the 2010 Plan is not significant. As of December 31, 2015 , the number of options outstanding and exercisable under the 2010 Plan was 4.2 million at a weighted-average exercise price of $6.58 per share and $6.57 per share, respectively. During the nine-month period ended December 31, 2015 , the Company granted 6.4 million unvested share bonus awards under the 2010 Plan. Of this amount, approximately 5.5 million unvested share bonus awards have an average grant date price of $11.93 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 $14.96 per award and was calculated using a Monte Carlo simulation. The remaining 0.2 million of unvested shares bonus awards under the 2010 Plan have an average grant date price of $12.10 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, 2015 , approximately 17.1 million unvested share bonus awards under the 2010 Plan were outstanding, of which vesting for a targeted amount of 3.6 million is contingent primarily on meeting certain market conditions. The number of shares that will ultimately be issued can range from zero to 7.2 million based on the achievement levels of the respective conditions. During the nine -month period ended December 31, 2015 , 2.2 million shares under the 2010 Plan vested in connection with the share bonus awards with market conditions granted in fiscal year 2013, and 0.5 million shares under the 2010 Plan vested in connection with the share bonus awards with market conditions granted in fiscal year 2012. As of December 31, 2015 , total unrecognized compensation expense related to unvested share bonus awards under the 2010 Plan is $110.3 million , net of estimated forfeitures, and will be recognized over a weighted-average remaining vesting period of 2.61 years. Approximately $16.7 million of the total unrecognized compensation cost, net of estimated forfeitures, is related to awards under the 2010 Plan whereby vesting is contingent on meeting certain market conditions. The 2014 NEXTracker Equity Incentive Plan During the third quarter ended December 31, 2015 , the Company granted 2.7 million share options under the NEXTracker Plan, at an average grant date fair value price of $7.76 per share, and with a vesting period of two to four years from the vesting commencement date. Total unrecognized compensation expense related to share options under the NEXTracker Plan is $16.3 million , net of forfeitures, and will be recognized over a weighted-average remaining vesting period of 3.1 years. As of December 31, 2015 , the number of options outstanding and exercisable was 2.5 million and 0.3 million , respectively, at a weighted-average exercise price of $3.90 per share and $2.84 per share, respectively. During the nine-month period ended December 31, 2015 , the Company granted 2.9 million unvested share bonus awards under the NEXTracker Plan, at an average grant date fair value of $10.27 per share that vest over a period of two to three years from the vesting commencement date. Of this amount, approximately 1.4 million unvested shares bonus awards represents the target amount of grants made to certain NEXTracker employees whereby vesting is contingent on meeting certain performance targets over a three -year period commencing October 1, 2015. As of December 31, 2015 , approximately 2.7 million unvested share bonus awards were outstanding. As of December 31, 2015 , total unrecognized compensation expense related to unvested share bonus awards under the NEXTracker Plan is $24.4 million , net of estimated forfeitures, and will be recognized over a weighted-average remaining vesting period of 2.62 years.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Dec. 31, 2015
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 Flextronics International Ltd.: Three-Month Periods Ended Nine-Month Periods Ended December 31, 2015 December 31, 2014 December 31, 2015 December 31, 2014 (In thousands, except per share amounts) Net income $ 148,910 $ 152,899 $ 382,737 $ 465,689 Shares used in computation: Weighted-average ordinary shares outstanding 554,919 577,157 561,070 583,383 Basic earnings per share 0.27 0.26 0.68 0.80 Diluted earnings per share: Net income $ 148,910 $ 152,899 $ 382,737 $ 465,689 Shares used in computation: Weighted-average ordinary shares outstanding 554,919 577,157 561,070 583,383 Weighted-average ordinary share equivalents from stock options and awards (1) (2) 6,077 10,044 7,856 11,408 Weighted-average ordinary shares and ordinary share equivalents outstanding 560,996 587,201 568,926 594,791 Diluted earnings per share 0.27 0.26 0.67 0.78 ____________________________________________________________ (1) Options to purchase ordinary shares of 2.1 million and 9.4 million during the three -month periods ended December 31, 2015 and December 31, 2014 , respectively, and share bonus awards of 0.1 million and 0.2 million for the three-month periods ended December 31, 2015 and December 31, 2014 , respectively, were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted-average ordinary share equivalents. (2) Options to purchase ordinary shares of 1.2 million and 11.2 million during the nine-month periods ended December 31, 2015 and December 31, 2014 , respectively, and share bonus awards of 3.5 million and 0.1 million for the nine-month periods ended December 31, 2015 and December 31, 2014 , respectively, were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted-average ordinary share equivalents.

BANK BORROWINGS AND LONG TERM D

BANK BORROWINGS AND LONG TERM DEBT	9 Months Ended
	Dec. 31, 2015
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, 2015 As of March 31, 2015 (In thousands) Term Loan, including current portion, due in installments through August 2018 $ 585,000 $ 592,500 Term Loan, including current portion, due in installments through March 2019 555,000 475,000 4.625% Notes due February 2020 500,000 500,000 5.000% Notes due February 2023 500,000 500,000 4.750% Notes due June 2025 595,494 — Other 71,516 16,233 Total $ 2,807,010 $ 2,083,733 The weighted-average interest rates for the Company’s long-term debt were 3.4% and 3.2% as of December 31, 2015 and March 31, 2015 , respectively. On June 8, 2015, the Company issued $600 million of 4.750% Notes ("Notes") due June 15, 2025 in a private offering pursuant to Rule 144A and Regulation S under the Securities Act, at a discount of 99.213% , and an effective rate of approximately 4.850% . The Company received net proceeds of approximately $595.3 million from the issuance which will be used for general corporate purposes. During January 2016, the Company exchanged these notes for new notes with substantially similar terms and completed the registration of these notes with the Securities and Exchange Commission. The Company incurred approximately $7.9 million of costs in conjunction with the issuance of the Notes. The issuance costs were capitalized and will be amortized over the life of the Notes. Interest on the Notes is payable semi-annually, commencing on December 15, 2015 . The Notes are senior unsecured obligations of the Company, rank equally with all of the Company's other existing and future senior and unsecured debt obligations, and are guaranteed, jointly and severally, fully and unconditionally on an unsecured basis, by each of the Company's 100% owned subsidiaries that guarantees indebtedness under, or is a borrower under, the Company's Term Loan Agreement and Revolving Line of Credit. At any time prior to March 15, 2025 , the Company may redeem some or all of the Notes at a redemption price equal to 100% of the principal amount of the Notes redeemed, plus an applicable premium and accrued and unpaid interest, if any, to the applicable redemption date. Upon the occurrence of a change of control repurchase event (as defined in the Notes indenture), the Company must offer to repurchase the Notes at a repurchase price equal to 101% of the principal amount of the Notes repurchased, plus accrued and unpaid interest, if any, to the applicable repurchase date. The indenture governing the Notes contains covenants that, among other things, restrict the ability of the Company and certain of the Company's subsidiaries to create liens; enter into sale-leaseback transactions; create, incur, issue, assume or guarantee any funded debt; and consolidate or merge with, or convey, transfer or lease all or substantially all of the Company's assets to, another person, or permit any other person to consolidate, merge, combine or amalgamate with or into the Company. These covenants are subject to a number of significant limitations and exceptions set forth in the indenture. The indenture also provides for customary events of default, including, but not limited to, cross defaults to certain specified other debt of the Company and its subsidiaries. In the case of an event of default arising from specified events of bankruptcy or insolvency, all outstanding Notes will become due and payable immediately without further action or notice. If any other event of default under the agreement occurs or is continuing, the applicable trustee or holders of at least 25% in aggregate principal amount of the then outstanding Notes may declare all of the Notes to be due and payable immediately, but upon certain conditions such declaration and its consequences may be rescinded and annulled by the holders of a majority in principal amount of the Notes. As of December 31, 2015 , the Company was in compliance with the covenants in the indenture governing the Notes. On September 30, 2015, the Company amended its $2.0 billion credit facility to increase the $500 million term loan maturing in March 2019 by $100.0 million . Quarterly repayments of principal under this term loan were amended to $7.5 million up to March 31, 2016, and will be increased to $11.3 million thereafter with the remainder due upon maturity. All other terms remained unchanged. On October 1, 2015, the Company borrowed €50 million (approximately $54.6 million as of December 31, 2015 ), under a 5 -year, unsecured, term-loan agreement due September 30, 2020. Borrowings under the term loan due September 30, 2020 bear interest at EURIBOR plus the applicable margin ranging between 0.80% and 2.00% , based on the Company’s credit ratings. The loan is repayable beginning December 30, 2016 in quarterly payments of €312,500 through June 30, 2020 with the remainder due upon maturity. This loan is included in the "Other" category in the table above. This term loan agreement is unsecured, and is guaranteed by the Company. This term 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. 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. As of December 31, 2015 , 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, 2015 is as follows: Fiscal Year Ending March 31, Amount (In thousands) 2016 (1) $ 15,000 2017 60,669 2018 61,338 2019 1,006,338 2020 501,338 Thereafter 1,162,327 Total $ 2,807,010 ____________________________________________________________ (1) Represents scheduled repayment for the remaining three -month period ending March 31, 2016 .

INTEREST AND OTHER, NET

INTEREST AND OTHER, NET	9 Months Ended
	Dec. 31, 2015
INTEREST AND OTHER, NET
INTEREST AND OTHER, NET	INTEREST AND OTHER, NET 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, on its debt obligations outstanding during the periods. During the three-month and nine-month periods ended December 31, 2014 , the Company recognized interest expense of $19.9 million and $57.5 million , respectively. During the three-month and nine-month periods ended December 31, 2015 , the Company recognized interest income of $3.1 million and $10.9 million , respectively. During the three-month and nine-month periods ended December 31, 2014 , the Company recognized interest income of $4.7 million and $14.7 million , respectively. During the three-month and nine-month periods ended December 31, 2015 , the Company recognized gains on foreign exchange transactions of $4.4 million and $19.1 million , respectively. During the three-month and nine-month periods ended December 31, 2014 , the Company recognized gains on foreign exchange transactions of $8.5 million and $13.9 million , respectively. During the nine-month periods ended December 31, 2015 , the Company incurred $8.0 million of acquisition-related costs.

OTHER CHARGES (INCOME), NET

OTHER CHARGES (INCOME), NET	9 Months Ended
	Dec. 31, 2015
Other Income and Expenses [Abstract]
OTHER CHARGES (INCOME), NET	OTHER CHARGES (INCOME), 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 nine -month period ended December 31, 2014 , an amendment to a customer contract to reimburse a customer for certain performance provisions was executed which included the removal of a $55.0 million contractual obligation recognized during fiscal year 2014. Accordingly, the Company reversed the charge recognized in fiscal year 2014 with a corresponding credit to other charges (income), net in the consolidated statement of operations. Further, during the nine -month period ended December 31, 2014 , the Company recognized a loss of $11.0 million in connection with the disposition of a manufacturing facility in Western Europe. The Company received $11.5 million in cash for the sale of $27.2 million in net assets of the facility. The loss also includes $4.6 million of transaction costs, partially offset by a credit of $9.3 million for the release of cumulative foreign translation gains triggered by the disposition.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	9 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedges, Assets [Abstract]
FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTS Foreign Currency Contracts The Company primarily enters into forward contracts and foreign currency swap contracts 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, 2015 , 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 1,200,000 — $ 185,037 $ — EUR 7,620 84,326 8,310 94,578 HUF 13,942,000 — 48,497 — ILS 101,200 — 25,952 — MXN 1,500,000 — 87,165 — MYR 176,000 38,364 41,040 8,946 Other N/A N/A 45,989 — 441,990 103,524 Other Foreign Currency Contracts BRL — 882,000 — 228,078 CHF 18,567 42,711 18,678 43,023 CNY 2,872,861 260,000 441,198 40,091 DKK 201,200 155,700 29,401 22,752 EUR 871,627 1,175,211 948,765 1,277,835 GBP 34,157 59,746 50,616 88,620 HUF 49,154,000 48,935,000 170,982 170,221 INR 2,100,628 106,646 31,502 1,600 MXN 1,905,960 818,430 110,756 47,559 MYR 377,341 78,800 87,989 18,375 PLN 97,018 52,401 25,011 13,509 SEK 675,375 999,944 79,732 117,772 SGD 42,071 9,360 29,745 6,618 Other N/A N/A 69,545 47,915 2,093,920 2,123,968 Total Notional Contract Value in USD $ 2,535,910 $ 2,227,492 As of December 31, 2015 , 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, 2015 and March 31, 2015 , the Company also has included net deferred losses in accumulated other comprehensive loss, a component of shareholders’ equity in the condensed consolidated balance sheets, relating to the effective portion of changes in fair value of its foreign currency contracts that are accounted for as cash flow hedges. These deferred losses were not material as of December 31, 2015 , 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 $ 4,546 $ 2,896 Other current liabilities $ 3,501 $ 19,729 Derivatives not designated as hedging instruments Foreign currency contracts Other current assets $ 16,689 $ 22,933 Other current liabilities $ 20,153 $ 11,328 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 period presented.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Dec. 31, 2015
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, 2015 December 31, 2014 Unrealized gain Foreign currency Total Unrealized gain Foreign currency Total (In thousands) Beginning balance $ (60,981 ) $ (139,723 ) $ (200,704 ) $ (24,557 ) $ (103,135 ) $ (127,692 ) Other comprehensive gain (loss) before reclassifications 5,941 9,224 15,165 (29,287 ) (15,154 ) (44,441 ) Net losses reclassified from accumulated other comprehensive loss 4,556 20,839 25,395 6,490 — 6,490 Net current-period other comprehensive gain (loss) 10,497 30,063 40,560 (22,797 ) (15,154 ) (37,951 ) Ending balance $ (50,484 ) $ (109,660 ) $ (160,144 ) $ (47,354 ) $ (118,289 ) $ (165,643 ) Nine-Month Periods Ended December 31, 2015 December 31, 2014 Unrealized gain Foreign currency Total Unrealized gain Foreign currency Total (In thousands) Beginning balance $ (68,266 ) $ (112,239 ) $ (180,505 ) $ (32,849 ) $ (93,307 ) $ (126,156 ) Other comprehensive gain (loss) before reclassifications (8,478 ) (18,412 ) (26,890 ) (31,252 ) (13,146 ) (44,398 ) Net (gains) losses reclassified from accumulated other comprehensive loss 26,260 20,991 47,251 16,747 (11,836 ) 4,911 Net current-period other comprehensive gain (loss) 17,782 2,579 20,361 (14,505 ) (24,982 ) (39,487 ) Ending balance $ (50,484 ) $ (109,660 ) $ (160,144 ) $ (47,354 ) $ (118,289 ) $ (165,643 ) 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 (income), net in the condensed consolidated statement of operations. During the nine -month period ended December 31, 2014 , the Company recognized a loss of $11.0 million in connection with the disposition of a manufacturing facility in Western Europe. This loss includes the settlement of unrealized losses of $4.2 million on an insignificant defined benefit plan associated with the disposed facility offset by the release of cumulative foreign currency translation gains of $9.3 million , both of which have been reclassified from accumulated other comprehensive loss during the period. The loss on sale is included in other charges (income), net in the condensed consolidated statement of operations. Additionally, net gains reclassified from accumulated other comprehensive loss during the nine-month period ended December 31, 2014 includes $2.6 million in connection with cumulative translation gains related to the liquidation of a foreign entity, which is included in other charges (income), 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, 2014 , 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, 2015
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 $761.0 million for the Global Program, of which $600.0 million is committed and $161.0 million is uncommitted, and $265.0 million for the North American Program, of which $225.0 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, 2015 and December 31, 2014 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, 2015 , approximately $1.5 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 $971.3 million and deferred purchase price receivables of approximately $534.7 million . As of March 31, 2015 , approximately $1.3 billion of accounts receivable had been sold to the special purpose entities for which the Company had received net cash proceeds of $740.7 million and deferred purchase price receivables of approximately $600.7 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, 2015 and March 31, 2015 , 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, 2015 and March 31, 2015 , 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, 2015 and December 31, 2014 , cash flows from sales of receivables under the ABS Programs consisted of approximately $3.9 billion and $3.3 billion , for transfers of receivables, respectively (of which approximately $355.1 million and $204.6 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, 2015 December 31, 2014 December 31, 2015 December 31, 2014 (In thousands) Beginning balance $ 537,619 $ 426,057 $ 600,672 $ 470,908 Transfers of receivables 920,370 1,139,744 2,671,095 2,639,526 Collections (923,294 ) (891,159 ) (2,737,072 ) (2,435,792 ) Ending balance $ 534,695 $ 674,642 $ 534,695 $ 674,642 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 $257.3 million and $485.6 million as of December 31, 2015 and March 31, 2015 , respectively. For the nine-month periods ended December 31, 2015 and December 31, 2014 , total accounts receivable sold to certain third party banking institutions was approximately $1.8 billion and $3.4 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, 2015
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. The Company accrued $81.0 million of contingent consideration related to the acquisition of NEXTracker on the date of acquisition. Additionally, an incremental fair value adjustment of $4.0 million related to this acquisition, was recorded during the three-month and nine-month periods ended December 31, 2015 . 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, 2014 , the Company paid $7.4 million of contingent consideration related to the acquisition of Saturn Electronics and Engineering Inc., included as other financing activities in the statement of cash flows for the nine-month period ended December 31, 2014 . 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 $ 4,500 $ 15,800 $ 4,500 $ 11,300 Additions to accrual 81,000 — 81,000 4,500 Payments — (7,398 ) — (7,398 ) Fair value adjustments 4,000 — 4,000 — Ending balance $ 89,500 $ 8,402 $ 89,500 $ 8,402 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, 2015 and December 31, 2014 . There were no transfers between levels in the fair value hierarchy during the three-month and nine-month periods ended December 31, 2015 and December 31, 2014 . 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, 2015 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) $ — $ 939,564 $ — $ 939,564 Deferred purchase price receivable (Note 10) — — 534,695 534,695 Foreign exchange contracts (Note 8) — 21,235 — 21,235 Deferred compensation plan assets: 0 Mutual funds, money market accounts and equity securities 8,655 40,927 — 49,582 Liabilities: 0 Foreign exchange contracts (Note 8) $ — $ (23,654 ) $ — $ (23,654 ) Contingent consideration in connection with business acquisitions — — (89,500 ) (89,500 ) Fair Value Measurements as of March 31, 2015 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) $ — $ 674,859 $ — $ 674,859 Deferred purchase price receivable (Note 10) — — 600,672 600,672 Foreign exchange contracts (Note 8) — 25,829 — 25,829 Deferred compensation plan assets: 0 Mutual funds, money market accounts and equity securities 9,068 37,041 — 46,109 Liabilities: 0 Foreign exchange contracts (Note 8) $ — $ (31,057 ) $ — $ (31,057 ) Contingent consideration in connection with business acquisitions — — (4,500 ) (4,500 ) Other financial instruments The following table presents the Company’s debt not carried at fair value: As of December 31, 2015 As of March 31, 2015 Carrying Fair Carrying Fair Fair Value (In thousands) Term Loan, including current portion, due in installments through August 2018 $ 585,000 $ 580,250 $ 592,500 $ 582,131 Level 1 Term Loan, including current portion, due in installments through March 2019 555,000 549,800 475,000 465,500 Level 1 4.625% Notes due February 2020 500,000 531,053 500,000 523,750 Level 1 5.000% Notes due February 2023 500,000 514,430 500,000 543,150 Level 1 4.750% Notes due June 2025 595,494 599,940 — — Level 1 Total $ 2,735,494 $ 2,775,473 $ 2,067,500 $ 2,114,531 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 €50 million (approximately $54.6 million as of December 31, 2015 ), 5 -year, unsecured, term-loan due September 30, 2020 based on the current market rate, and as of December 31, 2015 , the carrying amount approximates fair value.

BUSINESS AND ASSETS ACQUISITION

BUSINESS AND ASSETS ACQUISITIONS	9 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
BUSINESS AND ASSETS ACQUISITIONS	BUSINESS AND ASSETS ACQUISITIONS Acquisition of Mirror Controls International On June 29, 2015 , the Company completed its acquisition of 100% of the outstanding share capital of MCi, and paid approximately $555.2 million , net of $27.7 million of cash acquired. This acquisition expanded the Company's capabilities in the automotive market, and was included in the HRS segment. The allocation of the purchase price to the tangible and identifiable intangible assets acquired and liabilities assumed was based on their estimated fair values as of the date of acquisition. The excess of the purchase price over the tangible and identifiable intangible assets acquired and liabilities assumed has been allocated to goodwill. The following represents the Company's allocation of the total purchase price to the acquired assets and liabilities of MCi (in thousands): Current assets: Accounts receivable $ 41,392 Inventories 19,169 Other current assets 2,798 Total current assets 63,359 Property and equipment, net 38,875 Other assets 1,632 Intangibles 236,800 Goodwill 322,458 Total assets $ 663,124 Current liabilities: Accounts payable $ 28,002 Accrued liabilities & other current liabilities 19,798 Total current liabilities 47,800 Other liabilities 60,166 Total aggregate purchase price $ 555,158 The intangible assets of $236.8 million is comprised of customer relationships of $75.5 million and licenses and other intangible assets of $161.3 million . Customer relationships and licenses and other intangibles are each amortized over a weighted-average estimated useful life of 10 years. In addition to accounts receivable and inventories, the Company acquired $38.9 million of machinery and equipment and assumed $60.2 million of other liabilities primarily comprised of deferred tax liabilities. The Company incurred $6.6 million in acquisition-related costs related to the acquisition of MCi during the nine-month period ended December 31, 2015 . The above purchase price allocation includes certain purchase accounting adjustments recorded during the three-month period ended December 31, 2015 , which approximately resulted in a net increase of $32.0 million to goodwill, a net decrease of deferred tax liabilities of $10.6 million , and a net decrease of $43.2 million to intangibles. The decrease in intangible assets was a result of the finalization of the valuation for acquired intangible assets, which also resulted in an update in the estimated useful life from 8 years to 10 years. The impact resulted in a $2.3 million reduction in amortization expense during the three-month period ended December 31, 2015 , which would have been the impact in the prior quarter if the final assumptions relating to the valuation for the acquired intangible assets were applied at the original acquisition date. Acquisition of a facility from Alcatel-Lucent On July 1, 2015 , the Company acquired an optical transport facility from Alcatel-Lucent for approximately $67.5 million , which expanded its capabilities in the telecom market and was included in the INS segment. The Company acquired primarily $55.0 million of inventory, $10.0 million of property and equipment primarily comprised of a building and land, and recorded goodwill and intangible assets for a customer relationship of $3.6 million and $2.1 million , respectively, and assumed $3.2 million in other net liabilities in connection with this acquisition. The customer relationship intangible will amortize over a weighted-average estimated useful life of 5 years. Acquisition of NEXTracker On September 28, 2015 , the Company acquired 100% of the outstanding share capital of NEXTracker, a provider of smart solar tracking solutions. The initial cash consideration was approximately $238.9 million , net of $13.2 million of cash acquired, with an additional $81.0 million of estimated potential contingent consideration, for a total purchase consideration of $319.9 million . This contingent consideration could reach a maximum of $97.2 million upon achievement of future revenue performance targets. The Company also acquired NEXTracker’s equity incentive plan. The financial results of NEXTracker were included in the IEI segment. The allocation of the purchase price to the tangible and identifiable intangible assets acquired and liabilities assumed was based on their estimated fair values as of the date of acquisition and is subject to change as the Company finalizes the valuation of the intangible assets acquired. The excess of the purchase price over the tangible and identifiable intangible assets acquired and liabilities assumed has been allocated to goodwill. The following represents the Company's preliminary allocation of the total purchase price to the acquired assets and liabilities of NEXTracker (in thousands): Current assets: Accounts receivable $ 60,298 Inventories 3,235 Other current assets 19,272 Total current assets 82,805 Property and equipment, net 1,382 Other assets 70 Intangibles 100,500 Goodwill 250,330 Total assets $ 435,087 Current liabilities: Accounts payable $ 17,226 Other current liabilities 57,075 Total current liabilities 74,301 Other liabilities 40,845 Total aggregate purchase price $ 319,941 The intangible assets of $100.5 million is comprised of customer relationships of $44.6 million and licenses and other intangible assets of $55.9 million . Customer relationships are amortized over a weighted-average estimated useful life of 5 years while licensed and other intangibles are amortized over a weighted-average estimated useful life of 6 years. Other business acquisitions Additionally, during the nine-month period ended December 31, 2015 , the Company completed six acquisitions that were not individually, nor in the aggregate, significant to the consolidated financial position, results of operations and cash flows of the Company. Three of the acquired businesses expanded the Company’s capabilities in the medical devices market, particularly precision plastics and molding within the HRS segment, two of them strengthened capabilities in the consumer electronics market within the CTG segment, and the last one strengthened capabilities in the household industrial and lifestyle market within the IEI segment. The Company paid $42.1 million , net of $0.7 million of cash held by the targets. The Company acquired $13.9 million of property and equipment, assumed liabilities of $27.3 million and recorded goodwill and intangibles of $39.6 million . The results of operations for each of the acquisitions completed in fiscal year 2016 were included in the Company’s consolidated financial results beginning on the date of each acquisition. 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 acquisitions occurred on the first day of the prior comparative period, or April 1, 2014, net income would have been estimated to be $116.6 million and $341.6 million for the three-month and nine-month periods ended December 31, 2015, respectively. Pro-forma net income would have been estimated to be $146.9 million and $436.4 million for the three-month and nine-month periods ended December 31, 2014, respectively. The estimated pro-forma net income for all periods presented does not include the $39.3 million tax benefit for the release of the valuation allowance on deferred tax assets relating to the NEXTracker acquisition, recognized in the three and nine-month period ended December 31, 2015 as discussed further in note 14, to promote comparability. 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 the recent periods. 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.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation and other legal matters During the fourth quarter of fiscal year 2014, one of the Company's Brazilian subsidiaries received an assessment for certain sales and import taxes. The tax assessment notice is for nine months of calendar year 2010 for an alleged amount of 50 million Brazilian reals (approximately $12.8 million based on the exchange rate as of December 31, 2015 ) plus interest. This assessment is in the second stage of the review process at the administrative level, and the Company plans to continue to vigorously oppose it as well as any future assessments. The Company is, however, unable to determine the likelihood of an unfavorable outcome of these assessments against our 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 this assessment or any future assessments that are reasonably possible. The Company does not expect final judicial determination on these matters for several years. During fiscal year 2015, one of the Company's non-operating Brazilian subsidiaries received an assessment of approximately $100 million related to income and social contribution taxes, interest and penalties. The Company believes there is no legal basis for the assessment and expects that any losses are remote. The Company plans to vigorously defend itself through the administrative and judicial processes. 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.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES During the three-month and nine-month periods ended December 31, 2015, the Company released $39.3 million of a previously established valuation allowance on deferred tax assets because of its recognition of $39.3 million in net deferred tax liabilities in connection with the NEXTracker acquisition. In addition, during the nine-month period ended December 31, 2015, the Company released $37.2 million of liabilities for uncertain tax positions due to settlements, foreign exchanges and lapses of statutes of limitations in various jurisdictions.

SHARE REPURCHASES

SHARE REPURCHASES	9 Months Ended
	Dec. 31, 2015
Treasury Stock, Number of Shares and Restriction Disclosures [Abstract]
SHARE REPURCHASES	SHARE REPURCHASES During the three-month and nine-month periods ended December 31, 2015 , the Company repurchased 8.5 million shares at an aggregate purchase price of $94.0 million , and 29.0 million shares at an aggregate purchase price of $326.4 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 Extraordinary General Meeting held on August 20, 2015 . As of December 31, 2015 , shares in the aggregate amount of $328.5 million were available to be repurchased under the current plan.

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING The Company has four reportable segments: HRS, CTG, IEI, and INS. 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, 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, 2015 December 31, 2014 December 31, 2015 December 31, 2014 (In thousands) Net sales: Integrated Network Solutions $ 2,469,099 $ 2,358,199 $ 6,640,626 $ 7,139,333 Consumer Technology Group 2,057,850 2,647,229 5,633,903 7,078,912 Industrial & Emerging Industries 1,214,225 1,105,992 3,490,205 3,327,660 High Reliability Solutions 1,022,003 913,634 2,881,453 2,650,411 $ 6,763,177 $ 7,025,054 $ 18,646,187 $ 20,196,316 Segment income and reconciliation of income before tax: Integrated Network Solutions $ 75,578 $ 72,654 $ 198,400 $ 203,008 Consumer Technology Group 49,032 73,200 129,045 156,401 Industrial & Emerging Industries 49,230 21,730 110,498 104,636 High Reliability Solutions 82,806 56,124 213,890 159,068 Corporate and Other (20,563 ) (16,825 ) (60,348 ) (49,629 ) Total segment income 236,083 206,883 591,485 573,484 Reconciling items: Intangible amortization 19,319 8,045 43,117 23,228 Stock-based compensation 24,233 14,219 56,559 36,821 Other charges (income), net 44,415 5,067 46,257 (41,526 ) Interest and other, net 21,566 9,035 60,106 40,178 Income before income taxes $ 126,550 $ 170,517 $ 385,446 $ 514,783 Asset information on a segment basis is not disclosed, as property and equipment is not allocated to each segment. Corporate and other primarily includes corporate services costs that are not included in the assessment of the performance of each of the identified reporting segments.

SUPPLEMENTAL GUARANTOR AND NON-

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	9 Months Ended
	Dec. 31, 2015
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 Flextronics International 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. 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. During the nine-month period ended December 31, 2015 , and in conjunction with the new $600 million Notes, a new entity was added as a guarantor subsidiary for all three tranches of the Notes. Accordingly, the Company recast the condensed consolidating financial statements presented below to reflect this change. Condensed Consolidating Balance Sheets as of December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 868,114 $ 188,540 $ 577,540 $ — $ 1,634,194 Accounts receivable — 1,056,939 1,527,970 — 2,584,909 Inventories — 1,487,706 2,003,027 — 3,490,733 Inter company receivable 9,102,531 5,282,669 12,479,607 (26,864,807 ) — Other current assets 5,832 249,367 991,569 — 1,246,768 Total current assets 9,976,477 8,265,221 17,579,713 (26,864,807 ) 8,956,604 Property and equipment, net — 542,606 1,697,315 — 2,239,921 Goodwill and other intangible assets, net 250 66,969 1,249,798 — 1,317,017 Other assets 2,232,454 234,267 2,087,952 (4,018,697 ) 535,976 Investment in subsidiaries 1,965,783 2,813,134 16,874,908 (21,653,825 ) — Total assets $ 14,174,964 $ 11,922,197 $ 39,489,686 $ (52,537,329 ) $ 13,049,518 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Bank borrowings and current portion of long-term debt $ 60,000 $ 917 $ 4,619 $ — $ 65,536 Accounts payable — 1,538,397 3,263,797 — 4,802,194 Accrued payroll — 109,299 250,710 — 360,009 Inter company payable 8,809,843 8,754,992 9,299,972 (26,864,807 ) — Other current liabilities 47,572 804,571 1,072,389 — 1,924,532 Total current liabilities 8,917,415 11,208,176 13,891,487 (26,864,807 ) 7,152,271 Long term liabilities 2,714,294 2,045,880 2,577,338 (4,018,697 ) 3,318,815 Flextronics International Ltd. shareholders’ equity (deficit) 2,543,255 (1,331,859 ) 22,985,684 (21,653,825 ) 2,543,255 Noncontrolling interests — — 35,177 — 35,177 Total shareholders’ equity (deficit) 2,543,255 (1,331,859 ) 23,020,861 (21,653,825 ) 2,578,432 Total liabilities and shareholders’ equity $ 14,174,964 $ 11,922,197 $ 39,489,686 $ (52,537,329 ) $ 13,049,518 Condensed Consolidating Balance Sheets as of March 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 608,971 $ 168,272 $ 851,165 $ — $ 1,628,408 Accounts receivable — 1,208,632 1,128,883 — 2,337,515 Inventories — 1,729,593 1,759,159 — 3,488,752 Inter company receivable 6,417,410 4,759,062 10,099,057 (21,275,529 ) — Other current assets 8,143 202,160 1,075,922 — 1,286,225 Total current assets 7,034,524 8,067,719 14,914,186 (21,275,529 ) 8,740,900 Property and equipment, net — 471,052 1,621,115 — 2,092,167 Goodwill and other intangible assets, net 475 64,831 349,869 — 415,175 Other assets 2,223,402 155,172 2,131,523 (4,092,715 ) 417,382 Investment in subsidiaries 1,799,956 1,658,387 16,641,212 (20,099,555 ) — Total assets $ 11,058,357 $ 10,417,161 $ 35,657,905 $ (45,467,799 ) $ 11,665,624 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Bank borrowings and current portion of long-term debt $ 40,000 $ 917 $ 5,245 $ — $ 46,162 Accounts payable — 1,758,305 2,802,889 — 4,561,194 Accrued payroll — 112,692 227,047 — 339,739 Inter company payable 6,559,569 7,250,235 7,465,725 (21,275,529 ) — Other current liabilities 30,553 845,156 933,419 — 1,809,128 Total current liabilities 6,630,122 9,967,305 11,434,325 (21,275,529 ) 6,756,223 Long term liabilities 2,067,421 2,102,483 2,435,962 (4,092,715 ) 2,513,151 Flextronics International Ltd. shareholders’ equity (deficit) 2,360,814 (1,652,627 ) 21,752,182 (20,099,555 ) 2,360,814 Noncontrolling interests — — 35,436 — 35,436 Total shareholders’ equity (deficit) 2,360,814 (1,652,627 ) 21,787,618 (20,099,555 ) 2,396,250 Total liabilities and shareholders’ equity $ 11,058,357 $ 10,417,161 $ 35,657,905 $ (45,467,799 ) $ 11,665,624 Condensed Consolidating Statements of Operations for the Three -Month Period Ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 4,598,248 $ 5,717,609 $ (3,552,680 ) $ 6,763,177 Cost of sales — 4,186,909 5,676,481 (3,552,680 ) 6,310,710 Gross profit — 411,339 41,128 — 452,467 Selling, general and administrative expenses — 83,750 156,867 — 240,617 Intangible amortization 75 960 18,284 — 19,319 Interest and other, net 49,358 318,367 (301,744 ) — 65,981 Income (loss) from continuing operations before income taxes (49,433 ) 8,262 167,721 — 126,550 Provision for income taxes — (8,071 ) (14,289 ) — (22,360 ) Equity in earnings in subsidiaries 198,343 (52,808 ) (12,229 ) (133,306 ) — Net income (loss) $ 148,910 $ (36,475 ) $ 169,781 $ (133,306 ) $ 148,910 Condensed Consolidating Statements of Operations for the Three -Month Period Ended December 31, 2014 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 5,164,527 $ 5,437,970 $ (3,577,443 ) $ 7,025,054 Cost of sales — 4,757,332 5,436,508 (3,577,443 ) 6,616,397 Gross profit — 407,195 1,462 — 408,657 Selling, general and administrative expenses — 64,161 151,832 — 215,993 Intangible amortization 75 937 7,033 — 8,045 Interest and other, net 27,876 249,948 (263,722 ) — 14,102 Income (loss) from continuing operations before income taxes (27,951 ) 92,149 106,319 — 170,517 Provision for income taxes — (5,737 ) 23,355 — 17,618 Equity in earnings in subsidiaries 180,850 (69,438 ) 61,337 (172,749 ) — Net income (loss) $ 152,899 $ 28,448 $ 144,301 $ (172,749 ) $ 152,899 Condensed Consolidating Statements of Operations for the Nine-Month Period Ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 13,126,846 $ 15,167,659 $ (9,648,318 ) $ 18,646,187 Cost of sales — 11,972,222 15,120,559 (9,648,318 ) 17,444,463 Gross profit — 1,154,624 47,100 — 1,201,724 Selling, general and administrative expenses — 214,015 452,783 — 666,798 Intangible amortization 225 2,881 40,011 — 43,117 Interest and other, net (347,663 ) 931,754 (477,728 ) — 106,363 Income from continuing operations before income taxes 347,438 5,974 32,034 — 385,446 Provision for income taxes — (4,630 ) 7,339 — 2,709 Equity in earnings in subsidiaries 35,299 (104,435 ) 40,531 28,605 — Net income (loss) $ 382,737 $ (93,831 ) $ 65,226 $ 28,605 $ 382,737 Condensed Consolidating Statements of Operations for the Nine-Month Period Ended December 31, 2014 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 14,702,071 $ 15,399,047 $ (9,904,802 ) $ 20,196,316 Cost of sales — 13,616,471 15,318,124 (9,904,802 ) 19,029,793 Gross profit — 1,085,600 80,923 — 1,166,523 Selling, general and administrative expenses — 188,788 441,072 — 629,860 Intangible amortization 225 2,624 20,379 — 23,228 Interest and other, net (24,933 ) 797,142 (773,557 ) — (1,348 ) Income from continuing operations before income taxes 24,708 97,046 393,029 — 514,783 Provision for income taxes — 9,053 40,041 — 49,094 Equity in earnings in subsidiaries 440,981 (55,992 ) 148,946 (533,935 ) — Net income $ 465,689 $ 32,001 $ 501,934 $ (533,935 ) $ 465,689 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 $ (36,475 ) $ 169,781 $ (133,306 ) $ 148,910 Other comprehensive income: Foreign currency translation adjustments, net of zero tax 30,063 64,298 50,828 (115,126 ) 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 $ 189,470 $ 31,922 $ 231,106 $ (263,028 ) $ 189,470 Condensed Consolidating Statements of Comprehensive Income (Loss) for the Three -Month Period Ended December 31, 2014 Parent Guarantor Non- Eliminations Consolidated (in thousands) Net income $ 152,899 $ 28,448 $ 144,301 $ (172,749 ) $ 152,899 Other comprehensive income (loss): Foreign currency translation adjustments, net of zero tax (15,154 ) 96,645 37,167 (133,812 ) (15,154 ) Unrealized loss on derivative instruments and other, net of zero tax (22,797 ) (5,936 ) (22,797 ) 28,733 (22,797 ) Comprehensive income $ 114,948 $ 119,157 $ 158,671 $ (277,828 ) $ 114,948 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 $ (93,831 ) $ 65,226 $ 28,605 $ 382,737 Other comprehensive income (loss): 0 Foreign currency translation adjustments, net of zero tax 2,579 7,113 (703 ) (6,410 ) 2,579 Unrealized gain on derivative instruments and other, net of zero tax 17,782 9,883 17,782 (27,665 ) 17,782 Comprehensive income (loss) $ 403,098 $ (76,835 ) $ 82,305 $ (5,470 ) $ 403,098 Condensed Consolidating Statements of Comprehensive Income (Loss) for the Nine-Month Period Ended December 31, 2014 Parent Guarantor Non- Eliminations Consolidated (in thousands) Net income $ 465,689 $ 32,001 $ 501,934 $ (533,935 ) $ 465,689 Other comprehensive income (loss): Foreign currency translation adjustments, net of zero tax (24,982 ) 190,307 108,504 (298,811 ) (24,982 ) Unrealized loss on derivative instruments and other, net of zero tax (14,505 ) (6,164 ) (14,505 ) 20,669 (14,505 ) Comprehensive income $ 426,202 $ 216,144 $ 595,933 $ (812,077 ) $ 426,202 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 $ (92,821 ) $ 689,411 $ 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 ) (91,009 ) — (900,242 ) Investing cash flows to affiliates (1,099,775 ) (994,387 ) (944,200 ) 3,038,362 — Other investing activities, net (2,046 ) (23,270 ) 26,713 — 1,397 Net cash used in investing activities (1,101,821 ) (1,954,901 ) (1,294,424 ) 3,038,367 (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 2,065,092 340,525 (3,038,367 ) — Other financing activities, net — — (49,742 ) — (49,742 ) Net cash provided by financing activities 1,013,681 2,063,759 347,423 (3,038,367 ) 386,496 Effect of exchange rates on cash and cash equivalents 4,101 4,231 (16,035 ) — (7,703 ) Net increase (decrease) in cash and cash equivalents 259,143 20,268 (273,625 ) — 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 $ 188,540 $ 577,540 $ — $ 1,634,194 Condensed Consolidating Statements of Cash Flows for the Nine-Month Period Ended December 31, 2014 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) Net cash provided by (used in) operating activities $ (4,319 ) $ 11,083 $ 662,660 $ — $ 669,424 Cash flows from investing activities: Purchases of property and equipment, net of proceeds from disposal — (76,042 ) (88,340 ) (12 ) (164,394 ) Acquisition and divestiture of businesses, net of cash acquired and cash held in divested business — (20,092 ) (38,040 ) — (58,132 ) Investing cash flows from (to) affiliates (1,163,617 ) (2,257,892 ) 370,504 3,051,005 — Other investing activities, net (1,500 ) (10,597 ) 580 (11,517 ) Net cash provided by (used in) investing activities (1,165,117 ) (2,364,623 ) 244,704 3,050,993 (234,043 ) Cash flows from financing activities: Proceeds from bank borrowings and long-term debt 223,000 — 11,523 — 234,523 Repayments of bank borrowings, long-term debt and capital lease obligations (245,500 ) (1,686 ) (4,151 ) — (251,337 ) Payments for repurchases of ordinary shares (290,752 ) — — — (290,752 ) Net proceeds from issuance of ordinary shares 12,341 — — — 12,341 Financing cash flows from (to) affiliates 1,575,271 2,340,819 (865,097 ) (3,050,993 ) — Other financing activities, net — — (29,135 ) — (29,135 ) Net cash provided by (used in) financing activities 1,274,360 2,339,133 (886,860 ) (3,050,993 ) (324,360 ) Effect of exchange rates on cash and cash equivalents (137,117 ) (5,893 ) 145,482 — 2,472 Net decrease (increase) in cash and cash equivalents (32,193 ) (20,300 ) 165,986 — 113,493 Cash and cash equivalents, beginning of period 638,714 210,462 744,552 — 1,593,728 Cash and cash equivalents, end of period $ 606,521 $ 190,162 $ 910,538 $ — $ 1,707,221

BALANCE SHEET ITEMS (Tables)

BALANCE SHEET ITEMS (Tables)	9 Months Ended
	Dec. 31, 2015
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 As of (In thousands) Raw materials $ 2,266,843 $ 2,330,428 Work-in-progress 553,686 557,786 Finished goods 670,204 600,538 $ 3,490,733 $ 3,488,752
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, 2015 : HRS CTG IEI INS Amount (In thousands) Balance, beginning of the year $ 93,138 $ 68,234 $ 64,221 $ 108,038 $ 333,631 Additions (1) 330,346 — 253,312 3,575 587,233 Purchase accounting adjustments (2) 125 — — — 125 Foreign currency translation adjustments (4,755 ) — — — (4,755 ) Balance, end of the period $ 418,854 $ 68,234 $ 317,533 $ 111,613 $ 916,234 (1) The goodwill generated from the Company’s business combinations completed during the nine-month period ended December 31, 2015 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) 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.
Schedule of components of acquired intangible assets	The components of acquired intangible assets are as follows: As of December 31, 2015 As of March 31, 2015 Gross Accumulated Net Gross Accumulated Net (In thousands) Intangible assets: Customer-related intangibles $ 258,079 $ (102,202 ) $ 155,877 $ 133,853 $ (80,506 ) $ 53,347 Licenses and other intangibles 275,322 (30,416 ) 244,906 39,985 (11,788 ) 28,197 Total $ 533,401 $ (132,618 ) $ 400,783 $ 173,838 $ (92,294 ) $ 81,544
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) 2016 (1) $ 21,198 2017 71,986 2018 57,887 2019 51,556 2020 43,315 Thereafter 154,841 Total amortization expense $ 400,783 ____________________________________________________________ (1) Represents estimated amortization for the remaining three -month period ending March 31, 2016 .

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Dec. 31, 2015
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, 2015 December 31, 2014 December 31, 2015 December 31, 2014 (In thousands) Cost of sales $ 2,407 $ 2,083 $ 6,440 $ 5,562 Selling, general and administrative expenses 21,826 12,136 50,119 31,259 Total share-based compensation expense $ 24,233 $ 14,219 $ 56,559 $ 36,821

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Dec. 31, 2015
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 Flextronics International Ltd.: Three-Month Periods Ended Nine-Month Periods Ended December 31, 2015 December 31, 2014 December 31, 2015 December 31, 2014 (In thousands, except per share amounts) Net income $ 148,910 $ 152,899 $ 382,737 $ 465,689 Shares used in computation: Weighted-average ordinary shares outstanding 554,919 577,157 561,070 583,383 Basic earnings per share 0.27 0.26 0.68 0.80 Diluted earnings per share: Net income $ 148,910 $ 152,899 $ 382,737 $ 465,689 Shares used in computation: Weighted-average ordinary shares outstanding 554,919 577,157 561,070 583,383 Weighted-average ordinary share equivalents from stock options and awards (1) (2) 6,077 10,044 7,856 11,408 Weighted-average ordinary shares and ordinary share equivalents outstanding 560,996 587,201 568,926 594,791 Diluted earnings per share 0.27 0.26 0.67 0.78 ____________________________________________________________ (1) Options to purchase ordinary shares of 2.1 million and 9.4 million during the three -month periods ended December 31, 2015 and December 31, 2014 , respectively, and share bonus awards of 0.1 million and 0.2 million for the three-month periods ended December 31, 2015 and December 31, 2014 , respectively, were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted-average ordinary share equivalents. (2) Options to purchase ordinary shares of 1.2 million and 11.2 million during the nine-month periods ended December 31, 2015 and December 31, 2014 , respectively, and share bonus awards of 3.5 million and 0.1 million for the nine-month periods ended December 31, 2015 and December 31, 2014 , respectively, were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted-average ordinary share equivalents.

BANK BORROWINGS AND LONG TERM28

BANK BORROWINGS AND LONG TERM DEBT (Tables)	9 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of bank borrowings and long-term debt	Bank borrowings and long-term debt are as follows: As of December 31, 2015 As of March 31, 2015 (In thousands) Term Loan, including current portion, due in installments through August 2018 $ 585,000 $ 592,500 Term Loan, including current portion, due in installments through March 2019 555,000 475,000 4.625% Notes due February 2020 500,000 500,000 5.000% Notes due February 2023 500,000 500,000 4.750% Notes due June 2025 595,494 — Other 71,516 16,233 Total $ 2,807,010 $ 2,083,733
Schedule of the Company's repayments of long-term debt	Repayment of the Company’s long term debt outstanding as of December 31, 2015 is as follows: Fiscal Year Ending March 31, Amount (In thousands) 2016 (1) $ 15,000 2017 60,669 2018 61,338 2019 1,006,338 2020 501,338 Thereafter 1,162,327 Total $ 2,807,010 ____________________________________________________________ (1) Represents scheduled repayment for the remaining three -month period ending March 31, 2016 .

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Dec. 31, 2015
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, 2015 , 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 1,200,000 — $ 185,037 $ — EUR 7,620 84,326 8,310 94,578 HUF 13,942,000 — 48,497 — ILS 101,200 — 25,952 — MXN 1,500,000 — 87,165 — MYR 176,000 38,364 41,040 8,946 Other N/A N/A 45,989 — 441,990 103,524 Other Foreign Currency Contracts BRL — 882,000 — 228,078 CHF 18,567 42,711 18,678 43,023 CNY 2,872,861 260,000 441,198 40,091 DKK 201,200 155,700 29,401 22,752 EUR 871,627 1,175,211 948,765 1,277,835 GBP 34,157 59,746 50,616 88,620 HUF 49,154,000 48,935,000 170,982 170,221 INR 2,100,628 106,646 31,502 1,600 MXN 1,905,960 818,430 110,756 47,559 MYR 377,341 78,800 87,989 18,375 PLN 97,018 52,401 25,011 13,509 SEK 675,375 999,944 79,732 117,772 SGD 42,071 9,360 29,745 6,618 Other N/A N/A 69,545 47,915 2,093,920 2,123,968 Total Notional Contract Value in USD $ 2,535,910 $ 2,227,492
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 $ 4,546 $ 2,896 Other current liabilities $ 3,501 $ 19,729 Derivatives not designated as hedging instruments Foreign currency contracts Other current assets $ 16,689 $ 22,933 Other current liabilities $ 20,153 $ 11,328

ACCUMULATED OTHER COMPREHENSI30

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Dec. 31, 2015
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, 2015 December 31, 2014 Unrealized gain Foreign currency Total Unrealized gain Foreign currency Total (In thousands) Beginning balance $ (60,981 ) $ (139,723 ) $ (200,704 ) $ (24,557 ) $ (103,135 ) $ (127,692 ) Other comprehensive gain (loss) before reclassifications 5,941 9,224 15,165 (29,287 ) (15,154 ) (44,441 ) Net losses reclassified from accumulated other comprehensive loss 4,556 20,839 25,395 6,490 — 6,490 Net current-period other comprehensive gain (loss) 10,497 30,063 40,560 (22,797 ) (15,154 ) (37,951 ) Ending balance $ (50,484 ) $ (109,660 ) $ (160,144 ) $ (47,354 ) $ (118,289 ) $ (165,643 ) Nine-Month Periods Ended December 31, 2015 December 31, 2014 Unrealized gain Foreign currency Total Unrealized gain Foreign currency Total (In thousands) Beginning balance $ (68,266 ) $ (112,239 ) $ (180,505 ) $ (32,849 ) $ (93,307 ) $ (126,156 ) Other comprehensive gain (loss) before reclassifications (8,478 ) (18,412 ) (26,890 ) (31,252 ) (13,146 ) (44,398 ) Net (gains) losses reclassified from accumulated other comprehensive loss 26,260 20,991 47,251 16,747 (11,836 ) 4,911 Net current-period other comprehensive gain (loss) 17,782 2,579 20,361 (14,505 ) (24,982 ) (39,487 ) Ending balance $ (50,484 ) $ (109,660 ) $ (160,144 ) $ (47,354 ) $ (118,289 ) $ (165,643 )

TRADE RECEIVABLES SECURITIZAT31

TRADE RECEIVABLES SECURITIZATION (Tables)	9 Months Ended
	Dec. 31, 2015
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, 2015 December 31, 2014 December 31, 2015 December 31, 2014 (In thousands) Beginning balance $ 537,619 $ 426,057 $ 600,672 $ 470,908 Transfers of receivables 920,370 1,139,744 2,671,095 2,639,526 Collections (923,294 ) (891,159 ) (2,737,072 ) (2,435,792 ) Ending balance $ 534,695 $ 674,642 $ 534,695 $ 674,642

FAIR VALUE MEASUREMENT OF ASS32

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Dec. 31, 2015
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 $ 4,500 $ 15,800 $ 4,500 $ 11,300 Additions to accrual 81,000 — 81,000 4,500 Payments — (7,398 ) — (7,398 ) Fair value adjustments 4,000 — 4,000 — Ending balance $ 89,500 $ 8,402 $ 89,500 $ 8,402
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, 2015 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) $ — $ 939,564 $ — $ 939,564 Deferred purchase price receivable (Note 10) — — 534,695 534,695 Foreign exchange contracts (Note 8) — 21,235 — 21,235 Deferred compensation plan assets: 0 Mutual funds, money market accounts and equity securities 8,655 40,927 — 49,582 Liabilities: 0 Foreign exchange contracts (Note 8) $ — $ (23,654 ) $ — $ (23,654 ) Contingent consideration in connection with business acquisitions — — (89,500 ) (89,500 ) Fair Value Measurements as of March 31, 2015 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) $ — $ 674,859 $ — $ 674,859 Deferred purchase price receivable (Note 10) — — 600,672 600,672 Foreign exchange contracts (Note 8) — 25,829 — 25,829 Deferred compensation plan assets: 0 Mutual funds, money market accounts and equity securities 9,068 37,041 — 46,109 Liabilities: 0 Foreign exchange contracts (Note 8) $ — $ (31,057 ) $ — $ (31,057 ) Contingent consideration in connection with business acquisitions — — (4,500 ) (4,500 )
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, 2015 As of March 31, 2015 Carrying Fair Carrying Fair Fair Value (In thousands) Term Loan, including current portion, due in installments through August 2018 $ 585,000 $ 580,250 $ 592,500 $ 582,131 Level 1 Term Loan, including current portion, due in installments through March 2019 555,000 549,800 475,000 465,500 Level 1 4.625% Notes due February 2020 500,000 531,053 500,000 523,750 Level 1 5.000% Notes due February 2023 500,000 514,430 500,000 543,150 Level 1 4.750% Notes due June 2025 595,494 599,940 — — Level 1 Total $ 2,735,494 $ 2,775,473 $ 2,067,500 $ 2,114,531

BUSINESS AND ASSETS ACQUISITI33

BUSINESS AND ASSETS ACQUISITIONS (Tables)	9 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The financial results of NEXTracker were included in the IEI segment. The allocation of the purchase price to the tangible and identifiable intangible assets acquired and liabilities assumed was based on their estimated fair values as of the date of acquisition and is subject to change as the Company finalizes the valuation of the intangible assets acquired. The excess of the purchase price over the tangible and identifiable intangible assets acquired and liabilities assumed has been allocated to goodwill. The following represents the Company's preliminary allocation of the total purchase price to the acquired assets and liabilities of NEXTracker (in thousands): Current assets: Accounts receivable $ 60,298 Inventories 3,235 Other current assets 19,272 Total current assets 82,805 Property and equipment, net 1,382 Other assets 70 Intangibles 100,500 Goodwill 250,330 Total assets $ 435,087 Current liabilities: Accounts payable $ 17,226 Other current liabilities 57,075 Total current liabilities 74,301 Other liabilities 40,845 Total aggregate purchase price $ 319,941 The following represents the Company's allocation of the total purchase price to the acquired assets and liabilities of MCi (in thousands): Current assets: Accounts receivable $ 41,392 Inventories 19,169 Other current assets 2,798 Total current assets 63,359 Property and equipment, net 38,875 Other assets 1,632 Intangibles 236,800 Goodwill 322,458 Total assets $ 663,124 Current liabilities: Accounts payable $ 28,002 Accrued liabilities & other current liabilities 19,798 Total current liabilities 47,800 Other liabilities 60,166 Total aggregate purchase price $ 555,158

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Dec. 31, 2015
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, 2015 December 31, 2014 December 31, 2015 December 31, 2014 (In thousands) Net sales: Integrated Network Solutions $ 2,469,099 $ 2,358,199 $ 6,640,626 $ 7,139,333 Consumer Technology Group 2,057,850 2,647,229 5,633,903 7,078,912 Industrial & Emerging Industries 1,214,225 1,105,992 3,490,205 3,327,660 High Reliability Solutions 1,022,003 913,634 2,881,453 2,650,411 $ 6,763,177 $ 7,025,054 $ 18,646,187 $ 20,196,316 Segment income and reconciliation of income before tax: Integrated Network Solutions $ 75,578 $ 72,654 $ 198,400 $ 203,008 Consumer Technology Group 49,032 73,200 129,045 156,401 Industrial & Emerging Industries 49,230 21,730 110,498 104,636 High Reliability Solutions 82,806 56,124 213,890 159,068 Corporate and Other (20,563 ) (16,825 ) (60,348 ) (49,629 ) Total segment income 236,083 206,883 591,485 573,484 Reconciling items: Intangible amortization 19,319 8,045 43,117 23,228 Stock-based compensation 24,233 14,219 56,559 36,821 Other charges (income), net 44,415 5,067 46,257 (41,526 ) Interest and other, net 21,566 9,035 60,106 40,178 Income before income taxes $ 126,550 $ 170,517 $ 385,446 $ 514,783

SUPPLEMENTAL GUARANTOR AND NO35

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)	9 Months Ended
	Dec. 31, 2015
SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS
Schedule of condensed consolidating balance sheets	Condensed Consolidating Balance Sheets as of December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 868,114 $ 188,540 $ 577,540 $ — $ 1,634,194 Accounts receivable — 1,056,939 1,527,970 — 2,584,909 Inventories — 1,487,706 2,003,027 — 3,490,733 Inter company receivable 9,102,531 5,282,669 12,479,607 (26,864,807 ) — Other current assets 5,832 249,367 991,569 — 1,246,768 Total current assets 9,976,477 8,265,221 17,579,713 (26,864,807 ) 8,956,604 Property and equipment, net — 542,606 1,697,315 — 2,239,921 Goodwill and other intangible assets, net 250 66,969 1,249,798 — 1,317,017 Other assets 2,232,454 234,267 2,087,952 (4,018,697 ) 535,976 Investment in subsidiaries 1,965,783 2,813,134 16,874,908 (21,653,825 ) — Total assets $ 14,174,964 $ 11,922,197 $ 39,489,686 $ (52,537,329 ) $ 13,049,518 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Bank borrowings and current portion of long-term debt $ 60,000 $ 917 $ 4,619 $ — $ 65,536 Accounts payable — 1,538,397 3,263,797 — 4,802,194 Accrued payroll — 109,299 250,710 — 360,009 Inter company payable 8,809,843 8,754,992 9,299,972 (26,864,807 ) — Other current liabilities 47,572 804,571 1,072,389 — 1,924,532 Total current liabilities 8,917,415 11,208,176 13,891,487 (26,864,807 ) 7,152,271 Long term liabilities 2,714,294 2,045,880 2,577,338 (4,018,697 ) 3,318,815 Flextronics International Ltd. shareholders’ equity (deficit) 2,543,255 (1,331,859 ) 22,985,684 (21,653,825 ) 2,543,255 Noncontrolling interests — — 35,177 — 35,177 Total shareholders’ equity (deficit) 2,543,255 (1,331,859 ) 23,020,861 (21,653,825 ) 2,578,432 Total liabilities and shareholders’ equity $ 14,174,964 $ 11,922,197 $ 39,489,686 $ (52,537,329 ) $ 13,049,518 Condensed Consolidating Balance Sheets as of March 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 608,971 $ 168,272 $ 851,165 $ — $ 1,628,408 Accounts receivable — 1,208,632 1,128,883 — 2,337,515 Inventories — 1,729,593 1,759,159 — 3,488,752 Inter company receivable 6,417,410 4,759,062 10,099,057 (21,275,529 ) — Other current assets 8,143 202,160 1,075,922 — 1,286,225 Total current assets 7,034,524 8,067,719 14,914,186 (21,275,529 ) 8,740,900 Property and equipment, net — 471,052 1,621,115 — 2,092,167 Goodwill and other intangible assets, net 475 64,831 349,869 — 415,175 Other assets 2,223,402 155,172 2,131,523 (4,092,715 ) 417,382 Investment in subsidiaries 1,799,956 1,658,387 16,641,212 (20,099,555 ) — Total assets $ 11,058,357 $ 10,417,161 $ 35,657,905 $ (45,467,799 ) $ 11,665,624 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Bank borrowings and current portion of long-term debt $ 40,000 $ 917 $ 5,245 $ — $ 46,162 Accounts payable — 1,758,305 2,802,889 — 4,561,194 Accrued payroll — 112,692 227,047 — 339,739 Inter company payable 6,559,569 7,250,235 7,465,725 (21,275,529 ) — Other current liabilities 30,553 845,156 933,419 — 1,809,128 Total current liabilities 6,630,122 9,967,305 11,434,325 (21,275,529 ) 6,756,223 Long term liabilities 2,067,421 2,102,483 2,435,962 (4,092,715 ) 2,513,151 Flextronics International Ltd. shareholders’ equity (deficit) 2,360,814 (1,652,627 ) 21,752,182 (20,099,555 ) 2,360,814 Noncontrolling interests — — 35,436 — 35,436 Total shareholders’ equity (deficit) 2,360,814 (1,652,627 ) 21,787,618 (20,099,555 ) 2,396,250 Total liabilities and shareholders’ equity $ 11,058,357 $ 10,417,161 $ 35,657,905 $ (45,467,799 ) $ 11,665,624
Schedule of condensed consolidating statements of operations	Condensed Consolidating Statements of Operations for the Nine-Month Period Ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 13,126,846 $ 15,167,659 $ (9,648,318 ) $ 18,646,187 Cost of sales — 11,972,222 15,120,559 (9,648,318 ) 17,444,463 Gross profit — 1,154,624 47,100 — 1,201,724 Selling, general and administrative expenses — 214,015 452,783 — 666,798 Intangible amortization 225 2,881 40,011 — 43,117 Interest and other, net (347,663 ) 931,754 (477,728 ) — 106,363 Income from continuing operations before income taxes 347,438 5,974 32,034 — 385,446 Provision for income taxes — (4,630 ) 7,339 — 2,709 Equity in earnings in subsidiaries 35,299 (104,435 ) 40,531 28,605 — Net income (loss) $ 382,737 $ (93,831 ) $ 65,226 $ 28,605 $ 382,737 Condensed Consolidating Statements of Operations for the Nine-Month Period Ended December 31, 2014 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 14,702,071 $ 15,399,047 $ (9,904,802 ) $ 20,196,316 Cost of sales — 13,616,471 15,318,124 (9,904,802 ) 19,029,793 Gross profit — 1,085,600 80,923 — 1,166,523 Selling, general and administrative expenses — 188,788 441,072 — 629,860 Intangible amortization 225 2,624 20,379 — 23,228 Interest and other, net (24,933 ) 797,142 (773,557 ) — (1,348 ) Income from continuing operations before income taxes 24,708 97,046 393,029 — 514,783 Provision for income taxes — 9,053 40,041 — 49,094 Equity in earnings in subsidiaries 440,981 (55,992 ) 148,946 (533,935 ) — Net income $ 465,689 $ 32,001 $ 501,934 $ (533,935 ) $ 465,689 Condensed Consolidating Statements of Operations for the Three -Month Period Ended December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 4,598,248 $ 5,717,609 $ (3,552,680 ) $ 6,763,177 Cost of sales — 4,186,909 5,676,481 (3,552,680 ) 6,310,710 Gross profit — 411,339 41,128 — 452,467 Selling, general and administrative expenses — 83,750 156,867 — 240,617 Intangible amortization 75 960 18,284 — 19,319 Interest and other, net 49,358 318,367 (301,744 ) — 65,981 Income (loss) from continuing operations before income taxes (49,433 ) 8,262 167,721 — 126,550 Provision for income taxes — (8,071 ) (14,289 ) — (22,360 ) Equity in earnings in subsidiaries 198,343 (52,808 ) (12,229 ) (133,306 ) — Net income (loss) $ 148,910 $ (36,475 ) $ 169,781 $ (133,306 ) $ 148,910 Condensed Consolidating Statements of Operations for the Three -Month Period Ended December 31, 2014 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 5,164,527 $ 5,437,970 $ (3,577,443 ) $ 7,025,054 Cost of sales — 4,757,332 5,436,508 (3,577,443 ) 6,616,397 Gross profit — 407,195 1,462 — 408,657 Selling, general and administrative expenses — 64,161 151,832 — 215,993 Intangible amortization 75 937 7,033 — 8,045 Interest and other, net 27,876 249,948 (263,722 ) — 14,102 Income (loss) from continuing operations before income taxes (27,951 ) 92,149 106,319 — 170,517 Provision for income taxes — (5,737 ) 23,355 — 17,618 Equity in earnings in subsidiaries 180,850 (69,438 ) 61,337 (172,749 ) — Net income (loss) $ 152,899 $ 28,448 $ 144,301 $ (172,749 ) $ 152,899
Schedule of condensed consolidating statements of comprehensive income (loss)	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 $ (36,475 ) $ 169,781 $ (133,306 ) $ 148,910 Other comprehensive income: Foreign currency translation adjustments, net of zero tax 30,063 64,298 50,828 (115,126 ) 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 $ 189,470 $ 31,922 $ 231,106 $ (263,028 ) $ 189,470 Condensed Consolidating Statements of Comprehensive Income (Loss) for the Three -Month Period Ended December 31, 2014 Parent Guarantor Non- Eliminations Consolidated (in thousands) Net income $ 152,899 $ 28,448 $ 144,301 $ (172,749 ) $ 152,899 Other comprehensive income (loss): Foreign currency translation adjustments, net of zero tax (15,154 ) 96,645 37,167 (133,812 ) (15,154 ) Unrealized loss on derivative instruments and other, net of zero tax (22,797 ) (5,936 ) (22,797 ) 28,733 (22,797 ) Comprehensive income $ 114,948 $ 119,157 $ 158,671 $ (277,828 ) $ 114,948 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 $ (93,831 ) $ 65,226 $ 28,605 $ 382,737 Other comprehensive income (loss): 0 Foreign currency translation adjustments, net of zero tax 2,579 7,113 (703 ) (6,410 ) 2,579 Unrealized gain on derivative instruments and other, net of zero tax 17,782 9,883 17,782 (27,665 ) 17,782 Comprehensive income (loss) $ 403,098 $ (76,835 ) $ 82,305 $ (5,470 ) $ 403,098 Condensed Consolidating Statements of Comprehensive Income (Loss) for the Nine-Month Period Ended December 31, 2014 Parent Guarantor Non- Eliminations Consolidated (in thousands) Net income $ 465,689 $ 32,001 $ 501,934 $ (533,935 ) $ 465,689 Other comprehensive income (loss): Foreign currency translation adjustments, net of zero tax (24,982 ) 190,307 108,504 (298,811 ) (24,982 ) Unrealized loss on derivative instruments and other, net of zero tax (14,505 ) (6,164 ) (14,505 ) 20,669 (14,505 ) Comprehensive income $ 426,202 $ 216,144 $ 595,933 $ (812,077 ) $ 426,202
Schedule of condensed consolidating statements of cash flows	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 $ (92,821 ) $ 689,411 $ 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 ) (91,009 ) — (900,242 ) Investing cash flows to affiliates (1,099,775 ) (994,387 ) (944,200 ) 3,038,362 — Other investing activities, net (2,046 ) (23,270 ) 26,713 — 1,397 Net cash used in investing activities (1,101,821 ) (1,954,901 ) (1,294,424 ) 3,038,367 (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 2,065,092 340,525 (3,038,367 ) — Other financing activities, net — — (49,742 ) — (49,742 ) Net cash provided by financing activities 1,013,681 2,063,759 347,423 (3,038,367 ) 386,496 Effect of exchange rates on cash and cash equivalents 4,101 4,231 (16,035 ) — (7,703 ) Net increase (decrease) in cash and cash equivalents 259,143 20,268 (273,625 ) — 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 $ 188,540 $ 577,540 $ — $ 1,634,194 Condensed Consolidating Statements of Cash Flows for the Nine-Month Period Ended December 31, 2014 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) Net cash provided by (used in) operating activities $ (4,319 ) $ 11,083 $ 662,660 $ — $ 669,424 Cash flows from investing activities: Purchases of property and equipment, net of proceeds from disposal — (76,042 ) (88,340 ) (12 ) (164,394 ) Acquisition and divestiture of businesses, net of cash acquired and cash held in divested business — (20,092 ) (38,040 ) — (58,132 ) Investing cash flows from (to) affiliates (1,163,617 ) (2,257,892 ) 370,504 3,051,005 — Other investing activities, net (1,500 ) (10,597 ) 580 (11,517 ) Net cash provided by (used in) investing activities (1,165,117 ) (2,364,623 ) 244,704 3,050,993 (234,043 ) Cash flows from financing activities: Proceeds from bank borrowings and long-term debt 223,000 — 11,523 — 234,523 Repayments of bank borrowings, long-term debt and capital lease obligations (245,500 ) (1,686 ) (4,151 ) — (251,337 ) Payments for repurchases of ordinary shares (290,752 ) — — — (290,752 ) Net proceeds from issuance of ordinary shares 12,341 — — — 12,341 Financing cash flows from (to) affiliates 1,575,271 2,340,819 (865,097 ) (3,050,993 ) — Other financing activities, net — — (29,135 ) — (29,135 ) Net cash provided by (used in) financing activities 1,274,360 2,339,133 (886,860 ) (3,050,993 ) (324,360 ) Effect of exchange rates on cash and cash equivalents (137,117 ) (5,893 ) 145,482 — 2,472 Net decrease (increase) in cash and cash equivalents (32,193 ) (20,300 ) 165,986 — 113,493 Cash and cash equivalents, beginning of period 638,714 210,462 744,552 — 1,593,728 Cash and cash equivalents, end of period $ 606,521 $ 190,162 $ 910,538 $ — $ 1,707,221

ORGANIZATION OF THE COMPANY A36

ORGANIZATION OF THE COMPANY AND BASIS OF PRESENTATION (Details) - New Accounting Pronouncement, Early Adoption, Effect $ in Millions	Dec. 31, 2015USD ($)
Retained Earnings Adjustments [Line Items]
Deferred tax assets, current	$ 66.3
Deferred tax liabilities, current	9.1
Deferred tax assets, noncurrent	66.3
Deferred tax liabilities, noncurrent	$ 9.1

BALANCE SHEET ITEMS (Details)

BALANCE SHEET ITEMS (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015
Inventories
Raw materials	$ 2,266,843	$ 2,330,428
Work-in-progress	553,686	557,786
Finished goods	670,204	600,538
Inventories, total	$ 3,490,733	$ 3,488,752

BALANCE SHEET ITEMS (Details 2)

BALANCE SHEET ITEMS (Details 2) $ in Thousands	9 Months Ended
	Dec. 31, 2015USD ($)segment	Sep. 28, 2015USD ($)	Jun. 29, 2015USD ($)	Mar. 31, 2015USD ($)
Goodwill [Line Items]
Number of operating segments | segment	4
Activity in goodwill account
Balance, beginning of the year	$ 333,631
Additions	587,233
Purchase accounting adjustments	125
Foreign currency translation adjustments	(4,755)
Balance, end of the period	916,234
Gross carrying amount	533,401			$ 173,838
Accumulated Amortization	(132,618)			(92,294)
Total amortization expense	400,783			81,544
HRS
Activity in goodwill account
Balance, beginning of the year	93,138
Additions	330,346
Purchase accounting adjustments	125
Foreign currency translation adjustments	(4,755)
Balance, end of the period	418,854
CTG
Activity in goodwill account
Balance, beginning of the year	68,234
Additions	0
Purchase accounting adjustments	0
Foreign currency translation adjustments	0
Balance, end of the period	68,234
IEI
Activity in goodwill account
Balance, beginning of the year	64,221
Additions	253,312
Purchase accounting adjustments	0
Foreign currency translation adjustments	0
Balance, end of the period	317,533
INS
Activity in goodwill account
Balance, beginning of the year	108,038
Additions	3,575
Purchase accounting adjustments	0
Foreign currency translation adjustments	0
Balance, end of the period	111,613
Customer-related intangibles
Activity in goodwill account
Gross carrying amount	258,079			133,853
Accumulated Amortization	(102,202)			(80,506)
Total amortization expense	155,877			53,347
Licenses and other intangibles
Activity in goodwill account
Gross carrying amount	275,322			39,985
Accumulated Amortization	(30,416)			(11,788)
Total amortization expense	$ 244,906			$ 28,197
Mirror Controls International | Customer-related intangibles
Activity in goodwill account
Gross carrying amount			$ 75,500
Mirror Controls International | Licenses and other intangibles
Activity in goodwill account
Gross carrying amount			$ 161,300
Nextracker | Customer-related intangibles
Activity in goodwill account
Gross carrying amount		$ 44,600
Nextracker | Licenses and other intangibles
Activity in goodwill account
Gross carrying amount		$ 55,900

BALANCE SHEET ITEMS (Details 3)

BALANCE SHEET ITEMS (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2015	Jan. 29, 2016	Sep. 25, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 26, 2014	Mar. 31, 2014
Estimated future annual amortization expense for acquired intangible assets
2,016	$ 21,198
2,017	71,986
2,018	57,887
2,019	51,556
2,020	43,315
Thereafter	154,841
Total amortization expense	400,783			$ 81,544
Other current assets related to purchase of assets on behalf of customer financed by a third party banking institution	83,700			169,200
Other receivables relating to assets sold to third parties but not yet collected	56,100
Customer working capital advances	181,700			189,600
Customer related accruals	472,600			454,800
Deferred revenue	329,400			272,600
Other current liability for purchase of assets on behalf of customer financed by a third party banking institution	149,400			197,700
Asset-Backed Securitization Programs
Estimated future annual amortization expense for acquired intangible assets
Transferor's interests in transferred financial assets, fair value	534,695		$ 537,619	$ 600,672	$ 674,642	$ 426,057	$ 470,908
Adjustment
Estimated future annual amortization expense for acquired intangible assets
Revenues	$ 17,900
Other current assets | Subsequent Event
Estimated future annual amortization expense for acquired intangible assets
Inventory adjustments		$ 100,000

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Share-based compensation
Share-based compensation expense	$ 24,233	$ 14,219	$ 56,559	$ 36,821
Cost of sales
Share-based compensation
Share-based compensation expense	2,407	2,083	6,440	5,562
Selling, general and administrative expenses
Share-based compensation
Share-based compensation expense	$ 21,826	$ 12,136	$ 50,119	$ 31,259

SHARE-BASED COMPENSATION (Det41

SHARE-BASED COMPENSATION (Details 2) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares
Share options
Share-based compensation
Options exercisable (shares)	0	0
Weighted average exercise price of exercisable shares (in dollars per share) | $ / shares	$ 0	$ 0
2010 Equity Incentive Plan | Share options
Share-based compensation
Share options outstanding (in shares)	4,200,000	4,200,000
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 6.58	$ 6.58
Weighted average exercise price of exercisable shares (in dollars per share) | $ / shares	$ 6.57	$ 6.57
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
Share weighted-average remaining vesting period		2 years 7 months 8 days
Unvested share bonus awards granted (in shares)		6,400,000
Number of shares outstanding (in shares)	17,100,000	17,100,000
Unrecognized compensation expense | $	$ 110.3	$ 110.3
2010 Equity Incentive Plan | Restricted Stock Units
Share-based compensation
Unvested share bonus awards granted (in shares)		5,500,000
Average grant date price of unvested share bonus awards (in dollars per share) | $ / shares		$ 11.93
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions
Share-based compensation
Number of shares outstanding (in shares)	3,600,000	3,600,000
Unrecognized compensation expense | $	$ 16.7	$ 16.7
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Fiscal 2013
Share-based compensation
Shares vested (in shares)		2,200,000
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Minimum
Share-based compensation
Number of shares that may be issued (in shares)		0
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Maximum
Share-based compensation
Number of shares that may be issued (in shares)		7,200,000
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Key employees
Share-based compensation
Unvested share bonus awards granted (in shares)		700,000
Average grant date price of unvested share bonus awards (in dollars per share) | $ / shares		$ 14.96
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 (in shares)		0
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Key employees | Maximum
Share-based compensation
Unvested share bonus awards granted (in 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 (in shares)		0
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Certain executive officers | Maximum
Share-based compensation
Unvested share bonus awards granted (in 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 (in shares)		200,000
Nonvested average grant date price (in dollars per share) | $ / shares	$ 12.10	$ 12.10
2010 Equity Incentive Plan | Half of the share bonus awards with market conditions | Fiscal 2012
Share-based compensation
Shares vested (in shares)		500,000
2014 NEXTracker Equity Incentive Plan
Share-based compensation
Share weighted-average remaining vesting period		2 years 7 months 15 days
Unvested share bonus awards granted (in shares)		2,900,000
Average grant date price of unvested share bonus awards (in dollars per share) | $ / shares		$ 10.27
Number of shares outstanding (in shares)	2,700,000	2,700,000
Unrecognized compensation expense | $	$ 24.4	$ 24.4
Options granted in period (shares)	2,700,000
Options granted, weighted average exercise price (usd per share) | $ / shares	$ 7.76
2014 NEXTracker Equity Incentive Plan | Minimum
Share-based compensation
Vesting period	2 years	2 years
2014 NEXTracker Equity Incentive Plan | Maximum
Share-based compensation
Vesting period	4 years	3 years
2014 NEXTracker Equity Incentive Plan | Share options
Share-based compensation
Compensation not yet recognized | $	$ 16.3	$ 16.3
Share weighted-average remaining vesting period		3 years 1 month 6 days
Share options outstanding (in shares)	2,500,000	2,500,000
Options exercisable (shares)	300,000	300,000
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 3.90	$ 3.90
Weighted average exercise price of exercisable shares (in dollars per share) | $ / shares	$ 2.84	$ 2.84
2014 NEXTracker Equity Incentive Plan | Share Bonus Awards with Operating Profit Target Conditions
Share-based compensation
Unvested share bonus awards granted (in shares)		1,400,000
Vesting period		3 years

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Basic earnings per share:
Net income	$ 148,910	$ 152,899	$ 382,737	$ 465,689
Shares used in computation:
Weighted-average ordinary shares outstanding (in shares)	554,919	577,157	561,070	583,383
Basic earnings per share (in dollars per share)	$ 0.27	$ 0.26	$ 0.68	$ 0.80
Diluted earnings per share:
Net income	$ 148,910	$ 152,899	$ 382,737	$ 465,689
Shares used in computation:
Weighted-average ordinary shares outstanding (in shares)	554,919	577,157	561,070	583,383
Weighted-average ordinary share equivalents from stock options and awards (in shares)	6,077	10,044	7,856	11,408
Weighted-average ordinary shares and ordinary share equivalents outstanding (in shares)	560,996	587,201	568,926	594,791
Diluted earnings per share (in dollars per share)	$ 0.27	$ 0.26	$ 0.67	$ 0.78

EARNINGS PER SHARE (Details 2)

EARNINGS PER SHARE (Details 2) - shares shares in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Options
Anti-diluted securities excluded from the computation of diluted earnings per share
Ordinary shares excluded from the computation of diluted earnings per share	2.1	9.4	1.2	11.2
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	0.1	0.2	3.5	0.1

BANK BORROWINGS AND LONG TERM44

BANK BORROWINGS AND LONG TERM DEBT (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 08, 2015	Mar. 31, 2015
Debt Instrument [Line Items]
Total	$ 2,807,010		$ 2,083,733
Term Loan, including current portion, due in installments through August 2018
Debt Instrument [Line Items]
Total	585,000		592,500
Term Loan, including current portion, due in installments through March 2019
Debt Instrument [Line Items]
Total	555,000		475,000
4.625% Notes due February 2020
Debt Instrument [Line Items]
Total	$ 500,000		$ 500,000
Debt instrument interest rate (as a percent)	4.625%		4.625%
5.000% Notes due February 2023
Debt Instrument [Line Items]
Total	$ 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]
Total	$ 595,494	$ 595,300	$ 0
Debt instrument interest rate (as a percent)	4.75%	4.75%	4.75%
Other
Debt Instrument [Line Items]
Total	$ 71,516		$ 16,233

BANK BORROWINGS AND LONG TERM45

BANK BORROWINGS AND LONG TERM DEBT (Details 2) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015
Debt Disclosure [Abstract]
2,016	$ 15,000
2,017	60,669
2,018	61,338
2,019	1,006,338
2,020	501,338
Thereafter	1,162,327
Total	$ 2,807,010	$ 2,083,733

BANK BORROWINGS AND LONG TERM46

BANK BORROWINGS AND LONG TERM DEBT (Details 3)	Dec. 30, 2016EUR (€)	Oct. 01, 2015EUR (€)	Sep. 30, 2015USD ($)	Jun. 08, 2015USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2015USD ($)
Debt Instrument [Line Items]
Long-term debt, weighted average interest rate						3.40%		3.20%
Debt instrument, face amount			$ 500,000,000
Long-term debt						$ 2,807,010,000		$ 2,083,733,000
Percentage of ownership interest owned in subsidiaries that guarantees indebtedness						100.00%
Line of credit borrowing capacity			2,000,000,000
Increase in debt instrument			$ 100,000,000
4.750% Notes due June 2025
Debt Instrument [Line Items]
Debt instrument, face amount				$ 600,000,000
Debt instrument interest rate (as a percent)				4.75%		4.75%		4.75%
Debt instrument, redemption price (as a percent)				99.213%
Effective interest rate				4.85%
Long-term debt				$ 595,300,000		$ 595,494,000		$ 0
Debt issuance cost				$ 7,900,000
Percentage of ownership interest owned in subsidiaries that guarantees indebtedness						100.00%
Redemption price as a percentage of principal amount						100.00%
Percentage of Notes principal that may be redeemed upon occurrence of a change of control repurchase event						101.00%
4.750% Notes due June 2025 | Minimum
Debt Instrument [Line Items]
Percentage of principal amount of the then outstanding Notes due and payable						25.00%
Mirror Controls International
Debt Instrument [Line Items]
Debt instrument, face amount		€ 50,000,000				$ 54,600,000
Term of debt instrument		5 years
Euribor | Mirror Controls International | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		0.80%
Euribor | Mirror Controls International | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		2.00%
Forecast
Debt Instrument [Line Items]
Quarterly payment					$ 7,500,000		$ 11,300,000
Forecast | Mirror Controls International
Debt Instrument [Line Items]
Quarterly payment | €	€ 312,500

INTEREST AND OTHER, NET (Detail

INTEREST AND OTHER, NET (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
INTEREST AND OTHER, NET
Interest expense	$ 26.2	$ 19.9	$ 71.4	$ 57.5
Interest income	3.1	4.7	10.9	14.7
Recognized gains on foreign exchange transactions	4.4	$ 8.5	19.1	$ 13.9
Acquisition related costs	$ 8		$ 8

OTHER CHARGES (INCOME), NET (De

OTHER CHARGES (INCOME), NET (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Commitments
Other charges (income), net	$ (44,415)	$ (5,067)	$ (46,257)	$ 41,526
Proceeds from sale of facility			4,627	90,576
Supply commitment
Commitments
Other charges (income), net				55,000
Northern Europe | Certain manufacturing facilities
Commitments
Recognized loss in connection with disposition of a manufacturing facility			26,800
Non-cash foreign currency translation loss			25,300
Impairment losses on investments			21,800
Foreign currency translation gain				4,200
Western Europe | Certain manufacturing facilities
Commitments
Recognized loss in connection with disposition of a manufacturing facility			$ 11,000	11,000
Foreign currency translation gain				9,300
Proceeds from sale of facility				11,500
Net assets sold		$ 27,200		27,200
Transactions costs in connection with a disposition of a manufacturing facility				$ 4,600

FINANCIAL INSTRUMENTS (Details)

FINANCIAL INSTRUMENTS (Details) - Dec. 31, 2015 - Forward and Swap Contracts € in Thousands, ₪ in Thousands, ¥ in Thousands, ¥ in Thousands, £ in Thousands, SGD in Thousands, SFr in Thousands, SEK in Thousands, MYR in Thousands, MXN in Thousands, HUF in Thousands, DKK in Thousands, CAD in Thousands, BRL in Thousands, $ in Thousands

MYR

ILS (₪)

CHF (SFr)

SEK

BRL

HUF

CAD

USD ($)

GBP (£)

EUR (€)

JPY (¥)

MXN

DKK

CNY (¥)

SGD

Notional amount

Notional Contract Value

$ 4,800,000

Buy

Notional amount

Notional Contract Value

2,535,910

Sell

Notional amount

Notional Contract Value

2,227,492

Derivatives designated as hedging instruments | Cash Flow Hedges | Buy

Notional amount

Notional Contract Value

441,990

Derivatives designated as hedging instruments | Cash Flow Hedges | Buy | CNY

Notional amount

Notional Contract Value

185,037

¥ 1,200,000

Derivatives designated as hedging instruments | Cash Flow Hedges | Buy | EUR

Notional amount

Notional Contract Value

8,310

7,620

Derivatives designated as hedging instruments | Cash Flow Hedges | Buy | HUF

Notional amount

Notional Contract Value

HUF 13,942,000

48,497

Derivatives designated as hedging instruments | Cash Flow Hedges | Buy | ILS

Notional amount

Notional Contract Value

₪ 101,200

25,952

Derivatives designated as hedging instruments | Cash Flow Hedges | Buy | MXN

Notional amount

Notional Contract Value

87,165

MXN 1,500,000

Derivatives designated as hedging instruments | Cash Flow Hedges | Buy | MYR

Notional amount

Notional Contract Value

MYR 176,000

41,040

Derivatives designated as hedging instruments | Cash Flow Hedges | Buy | Other

Notional amount

Notional Contract Value

45,989

Derivatives designated as hedging instruments | Cash Flow Hedges | Sell

Notional amount

Notional Contract Value

103,524

Derivatives designated as hedging instruments | Cash Flow Hedges | Sell | CNY

Notional amount

Notional Contract Value

0

0

Derivatives designated as hedging instruments | Cash Flow Hedges | Sell | EUR

Notional amount

Notional Contract Value

94,578

84,326

Derivatives designated as hedging instruments | Cash Flow Hedges | Sell | HUF

Notional amount

Notional Contract Value

0

0

Derivatives designated as hedging instruments | Cash Flow Hedges | Sell | ILS

Notional amount

Notional Contract Value

0

0

Derivatives designated as hedging instruments | Cash Flow Hedges | Sell | MXN

Notional amount

Notional Contract Value

0

0

Derivatives designated as hedging instruments | Cash Flow Hedges | Sell | MYR

Notional amount

Notional Contract Value

MYR 38,364

8,946

Derivatives designated as hedging instruments | Cash Flow Hedges | Sell | Other

Notional amount

Notional Contract Value

0

Economic hedges | Buy

Notional amount

Notional Contract Value

2,093,920

Economic hedges | Buy | BRL

Notional amount

Notional Contract Value

BRL 0

0

Economic hedges | Buy | CHF

Notional amount

Notional Contract Value

CAD 18,567

18,678

Economic hedges | Buy | CNY

Notional amount

Notional Contract Value

SFr 2,872,861

441,198

Economic hedges | Buy | DKK

Notional amount

Notional Contract Value

29,401

201,200

Economic hedges | Buy | EUR

Notional amount

Notional Contract Value

948,765

DKK 871,627

Economic hedges | Buy | GBP

Notional amount

Notional Contract Value

50,616

€ 34,157

Economic hedges | Buy | HUF

Notional amount

Notional Contract Value

170,982

£ 49,154,000

Economic hedges | Buy | INR

Notional amount

Notional Contract Value

2,100,628

31,502

Economic hedges | Buy | MXN

Notional amount

Notional Contract Value

1,905,960

110,756

Economic hedges | Buy | MYR

Notional amount

Notional Contract Value

87,989

¥ 377,341

Economic hedges | Buy | PLN

Notional amount

Notional Contract Value

25,011

97,018

Economic hedges | Buy | SEK

Notional amount

Notional Contract Value

SEK 675,375

79,732

Economic hedges | Buy | SGD

Notional amount

Notional Contract Value

29,745

SGD 42,071

Economic hedges | Buy | Other

Notional amount

Notional Contract Value

69,545

Economic hedges | Sell

Notional amount

Notional Contract Value

2,123,968

Economic hedges | Sell | BRL

Notional amount

Notional Contract Value

BRL 882,000

228,078

Economic hedges | Sell | CHF

Notional amount

Notional Contract Value

CAD 42,711

43,023

Economic hedges | Sell | CNY

Notional amount

Notional Contract Value

SFr 260,000

40,091

Economic hedges | Sell | DKK

Notional amount

Notional Contract Value

22,752

¥ 155,700

Economic hedges | Sell | EUR

Notional amount

Notional Contract Value

1,277,835

DKK 1,175,211

Economic hedges | Sell | GBP

Notional amount

Notional Contract Value

88,620

€ 59,746

Economic hedges | Sell | HUF

Notional amount

Notional Contract Value

170,221

£ 48,935,000

Economic hedges | Sell | INR

Notional amount

Notional Contract Value

HUF 106,646

1,600

Economic hedges | Sell | MXN

Notional amount

Notional Contract Value

₪ 818,430

47,559

Economic hedges | Sell | MYR

Notional amount

Notional Contract Value

18,375

¥ 78,800

Economic hedges | Sell | PLN

Notional amount

Notional Contract Value

13,509

MXN 52,401

Economic hedges | Sell | SEK

Notional amount

Notional Contract Value

SEK 999,944

117,772

Economic hedges | Sell | SGD

Notional amount

Notional Contract Value

6,618

SGD 9,360

Economic hedges | Sell | Other

Notional amount

Notional Contract Value

$ 47,915

FINANCIAL INSTRUMENTS (Details

FINANCIAL INSTRUMENTS (Details 2) - Foreign currency contracts - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015
Other current assets | Derivatives designated as hedging instruments
Fair Values of Derivative Instruments
Asset Derivatives	$ 4,546	$ 2,896
Other current assets | Economic hedges
Fair Values of Derivative Instruments
Asset Derivatives	16,689	22,933
Other current liabilities | Derivatives designated as hedging instruments
Fair Values of Derivative Instruments
Liability Derivatives	3,501	19,729
Other current liabilities | Economic hedges
Fair Values of Derivative Instruments
Liability Derivatives	$ 20,153	$ 11,328

ACCUMULATED OTHER COMPREHENSI51

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ (200,704)	$ (127,692)	$ (180,505)	$ (126,156)
Other comprehensive gain (loss) before reclassifications	15,165	(44,441)	(26,890)	(44,398)
Net (gains) losses reclassified from accumulated other comprehensive loss	25,395	6,490	47,251	4,911
Net current-period other comprehensive gain (loss)	40,560	(37,951)	20,361	(39,487)
Ending balance	(160,144)	(165,643)	(160,144)	(165,643)
Unrealized gain (loss) on derivative instruments and other
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(60,981)	(24,557)	(68,266)	(32,849)
Other comprehensive gain (loss) before reclassifications	5,941	(29,287)	(8,478)	(31,252)
Net (gains) losses reclassified from accumulated other comprehensive loss	4,556	6,490	26,260	16,747
Net current-period other comprehensive gain (loss)	10,497	(22,797)	17,782	(14,505)
Ending balance	(50,484)	(47,354)	(50,484)	(47,354)
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(139,723)	(103,135)	(112,239)	(93,307)
Other comprehensive gain (loss) before reclassifications	9,224	(15,154)	(18,412)	(13,146)
Net (gains) losses reclassified from accumulated other comprehensive loss	20,839	0	20,991	(11,836)
Net current-period other comprehensive gain (loss)	30,063	(15,154)	2,579	(24,982)
Ending balance	$ (109,660)	$ (118,289)	$ (109,660)	$ (118,289)

ACCUMULATED OTHER COMPREHENSI52

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Reclassification
Other charges (income), net	$ (21,566)	$ (9,035)	$ (60,106)	$ (40,178)
Net gains reclassified from AOCI	(25,395)	(6,490)	(47,251)	(4,911)
Unrealized gain (loss) on derivative instruments and other
Reclassification
Net gains reclassified from AOCI	$ (4,556)	$ (6,490)	(26,260)	(16,747)
Unrealized gain (loss) on derivative instruments and other | Reclassification out of accumulated other comprehensive income
Reclassification
Cost of sales			24,700
Foreign currency transaction and translation adjustment net of tax | Reclassification out of accumulated other comprehensive income
Reclassification
Net gains reclassified from AOCI				2,600
Northern Europe | Certain manufacturing facilities
Reclassification
Recognized loss in connection with disposition of a manufacturing facility			26,800
Non-cash foreign currency translation loss			(25,300)
Foreign currency translation gain				4,200
Western Europe | Certain manufacturing facilities
Reclassification
Recognized loss in connection with disposition of a manufacturing facility			11,000	11,000
Foreign currency translation gain				$ 9,300
Western Europe | Unrealized gain (loss) on derivative instruments and other | Reclassification out of accumulated other comprehensive income
Reclassification
Other charges (income), net			(4,200)
Western Europe | Foreign currency transaction and translation adjustment net of tax | Reclassification out of accumulated other comprehensive income | Certain manufacturing facilities
Reclassification
Other charges (income), net			$ 9,300

TRADE RECEIVABLES SECURITIZAT53

TRADE RECEIVABLES SECURITIZATION (Details)	3 Months Ended		9 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2015USD ($)program	Dec. 31, 2014USD ($)	Mar. 31, 2015USD ($)
Trade Receivables Securitization disclosures
Servicing assets	$ 0	$ 0	$ 0	$ 0
Servicing Liability	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	1,500,000,000		$ 1,500,000,000		$ 1,300,000,000
Amount received from accounts receivable sold to third-party	971,300,000		971,300,000		740,700,000
Cash proceeds from sale of accounts receivable			3,900,000,000	3,300,000,000
Cash flows from new transfers of receivables			355,100,000	204,600,000
Activity in the deferred purchase price receivables account
Beginning balance	537,619,000	426,057,000	600,672,000	470,908,000
Transfers of receivables	920,370,000	1,139,744,000	2,671,095,000	2,639,526,000
Collections	(923,294,000)	(891,159,000)	(2,737,072,000)	(2,435,792,000)
Ending balance	$ 534,695,000	674,642,000	$ 534,695,000	674,642,000
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	$ 761,000,000		$ 761,000,000
Global Program | Committed
Trade Receivables Securitization disclosures
Investment limits with financial institution	600,000,000		600,000,000
Global Program | Uncommitted
Trade Receivables Securitization disclosures
Investment limits with financial institution	161,000,000		161,000,000
North American Program
Trade Receivables Securitization disclosures
Investment limits with financial institution	265,000,000		265,000,000
North American Program | Committed
Trade Receivables Securitization disclosures
Investment limits with financial institution	225,000,000		225,000,000
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	1,800,000,000	$ 3,400,000,000	1,800,000,000	$ 3,400,000,000
Activity in the deferred purchase price receivables account
Receivables sold but not yet collected from banking institutions	$ 257,300,000		$ 257,300,000		$ 485,600,000

FAIR VALUE MEASUREMENT OF ASS54

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015
Business Acquisition [Line Items]
Transfers out of Level 1 and into Level 2 related to assets and liabilities measured on a recurring and nonrecurring basis	$ 0	$ 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	0
Transfers out of Level 1 and into Level 2 related to liabilities measured on a recurring and nonrecurring basis	0	0	0
Transfers out of Level 2 and into Level 1 related to liabilities measured on a recurring and nonrecurring basis	0	0	0
Nextracker
Business Acquisition [Line Items]
Liabilities accrued related to acquisition	81,000,000		81,000,000
Contingent liabilities, fair value Aajustment	$ 4,000,000		$ 4,000,000
Saturn Electronics and Engineering Inc
Business Acquisition [Line Items]
Contingent consideration payments		$ 7,400,000

FAIR VALUE MEASUREMENT OF ASS55

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Contingent Consideration Liability [Roll Forward]
Beginning balance	$ 4,500	$ 15,800	$ 4,500	$ 11,300
Additions to accrual	81,000	0	81,000	4,500
Payments	0	(7,398)	0	(7,398)
Fair value adjustments	4,000	0	4,000	0
Ending balance	$ 89,500	$ 8,402	$ 89,500	$ 8,402

FAIR VALUE MEASUREMENT OF ASS56

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Details 3) - Recurring Basis - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015
Money market funds and time deposits
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	$ 939,564	$ 674,859
Deferred purchase price receivable (Note 10)
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	534,695	600,672
Foreign exchange contracts (Note 8)
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	21,235	25,829
Total Liabilities	(23,654)	(31,057)
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	49,582	46,109
Contingent consideration in connection with business acquisitions
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Liabilities	(89,500)	(4,500)
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	8,655	9,068
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	939,564	674,859
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	21,235	25,829
Total Liabilities	(23,654)	(31,057)
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	40,927	37,041
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	534,695	600,672
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	$ (89,500)	$ (4,500)

FAIR VALUE MEASUREMENT OF ASS57

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Details 4)	Oct. 01, 2015EUR (€)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 08, 2015USD ($)	Mar. 31, 2015USD ($)
Other financial instruments
Debt instrument, face amount			$ 500,000,000
4.625% Notes due February 2020
Other financial instruments
Debt instrument interest rate (as a percent)		4.625%			4.625%
5.000% Notes due February 2023
Other financial instruments
Debt instrument interest rate (as a percent)		5.00%			5.00%
4.750% Notes due June 2025
Other financial instruments
Debt instrument, face amount				$ 600,000,000
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%
Level 1 | 5.000% Notes due February 2023
Other financial instruments
Debt instrument interest rate (as a percent)		5.00%			5.00%
Level 1 | 4.750% Notes due June 2025
Other financial instruments
Debt instrument interest rate (as a percent)		4.75%
Carrying Amount
Other financial instruments
Fair Value		$ 2,735,494,000			$ 2,067,500,000
Carrying Amount | Level 1 | Term Loan, including current portion, due in installments through August 2018
Other financial instruments
Fair Value		585,000,000			592,500,000
Carrying Amount | Level 1 | Term Loan, including current portion, due in installments through March 2019
Other financial instruments
Fair Value		555,000,000			475,000,000
Carrying Amount | Level 1 | 4.625% Notes due February 2020
Other financial instruments
Fair Value		500,000,000			500,000,000
Carrying Amount | Level 1 | 5.000% Notes due February 2023
Other financial instruments
Fair Value		500,000,000			500,000,000
Carrying Amount | Level 1 | 4.750% Notes due June 2025
Other financial instruments
Fair Value		595,494,000			0
Fair Value
Other financial instruments
Fair Value		2,775,473,000			2,114,531,000
Fair Value | Level 1 | Term Loan, including current portion, due in installments through August 2018
Other financial instruments
Fair Value		580,250,000			582,131,000
Fair Value | Level 1 | Term Loan, including current portion, due in installments through March 2019
Other financial instruments
Fair Value		549,800,000			465,500,000
Fair Value | Level 1 | 4.625% Notes due February 2020
Other financial instruments
Fair Value		531,053,000			523,750,000
Fair Value | Level 1 | 5.000% Notes due February 2023
Other financial instruments
Fair Value		514,430,000			543,150,000
Fair Value | Level 1 | 4.750% Notes due June 2025
Other financial instruments
Fair Value		599,940,000			$ 0
Mirror Controls International
Other financial instruments
Debt instrument, face amount	€ 50,000,000	$ 54,600,000
Term of debt instrument	5 years

BUSINESS AND ASSETS ACQUISITI58

BUSINESS AND ASSETS ACQUISITIONS (Details) $ in Thousands	Sep. 28, 2015USD ($)	Jun. 29, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2015USD ($)acquisition	Dec. 31, 2014USD ($)	Sep. 25, 2015USD ($)	Mar. 31, 2015USD ($)	Sep. 26, 2014USD ($)	Mar. 31, 2014USD ($)
Business Acquisition [Line Items]
Acquisition of businesses, net of cash acquired					$ 900,242	$ 58,132
Current assets:
Goodwill			$ 916,234		916,234			$ 333,631
Current liabilities:
Gross carrying amount			533,401		533,401			173,838
Acquisition related costs			8,000		8,000
Intangible amortization			19,319	$ 8,045	43,117	23,228
Potential contingent consideration			89,500	8,402	89,500	8,402	$ 4,500	4,500	$ 15,800	$ 11,300
Goodwill and intangibles			1,317,017		1,317,017			415,175
Net income			148,910	152,899	382,737	465,689
Pro forma net income			116,600	$ 146,900	341,600	$ 436,400
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount			$ (39,300)		(39,300)
Maximum time to complete final allocation of purchase price			12 months
Alcatel-Lucent
Business Acquisition [Line Items]
Acquisition of businesses, net of cash acquired			$ 67,500
Current assets:
Inventories			55,000		55,000
Property and equipment, net			10,000		10,000
Intangibles			2,100		2,100
Goodwill			3,600		3,600
Current liabilities:
Recognized identifiable assets acquired and liabilities assumed, net			(3,200)		(3,200)
2016 Acquisitions
Current liabilities:
Net income			29,500		34,400
Series of Individually Immaterial Business Acquisitions
Current assets:
Property and equipment, net			13,900		$ 13,900
Current liabilities:
Number of acquisitions completed | acquisition					6
Purchase consideration net cash					$ 42,100
Cash acquired from acquisitions					700
Assumed liabilities			27,300		27,300
Goodwill and intangibles			39,600		39,600
Mirror Controls International
Business Acquisition [Line Items]
Acquisition of businesses, net of cash acquired		$ 555,200
Cash acquired		27,700
Current assets:
Accounts receivable		41,392
Inventories		19,169
Other current assets		2,798
Total current assets		63,359
Property and equipment, net		38,875
Other assets		1,632
Intangibles		236,800
Goodwill		322,458
Total assets		663,124
Current liabilities:
Accounts payable		28,002
Accrued liabilities & other current liabilities		19,798
Total current liabilities		47,800
Other liabilities		60,166
Total aggregate purchase price		555,158
Acquisition related costs					6,600
Nextracker
Business Acquisition [Line Items]
Acquisition of businesses, net of cash acquired	$ 238,900
Current assets:
Accounts receivable	60,298
Inventories	3,235
Other current assets	19,272
Total current assets	82,805
Property and equipment, net	1,382
Other assets	70
Intangibles	100,500
Goodwill	250,330
Total assets	435,087
Current liabilities:
Accounts payable	17,226
Accrued liabilities & other current liabilities	57,075
Total current liabilities	74,301
Other liabilities	40,845
Total aggregate purchase price	319,941
Potential contingent consideration	97,200
Cash acquired from acquisitions	13,200
Liabilities accrued related to acquisition			81,000		81,000
Customer-related intangibles
Current liabilities:
Gross carrying amount			258,079		$ 258,079			133,853
Customer-related intangibles | Alcatel-Lucent
Current liabilities:
Weighted average useful life					5 years
Customer-related intangibles | Mirror Controls International
Current liabilities:
Gross carrying amount		$ 75,500
Weighted average useful life		10 years
Customer-related intangibles | Nextracker
Current liabilities:
Gross carrying amount	$ 44,600
Weighted average useful life	5 years
Licenses and other intangibles
Current liabilities:
Gross carrying amount			275,322		$ 275,322			39,985
Licenses and other intangibles | Mirror Controls International
Current liabilities:
Gross carrying amount		$ 161,300
Licenses and other intangibles | Nextracker
Current liabilities:
Gross carrying amount	$ 55,900
Weighted average useful life	6 years
HRS
Current assets:
Goodwill			418,854		$ 418,854			93,138
HRS | Series of Individually Immaterial Business Acquisitions
Current liabilities:
Number of acquisitions completed | acquisition					3
IEI
Current assets:
Goodwill			317,533		$ 317,533			64,221
IEI | Series of Individually Immaterial Business Acquisitions
Current liabilities:
Number of acquisitions completed | acquisition					2
CTG
Current assets:
Goodwill			68,234		$ 68,234			$ 68,234
CTG | Series of Individually Immaterial Business Acquisitions
Current liabilities:
Number of acquisitions completed | acquisition					1
Adjustment | Mirror Controls International
Current assets:
Intangibles			(43,200)		$ (43,200)
Goodwill			32,000		32,000
Current liabilities:
Intangible amortization			(2,300)
Decrease in deferred tax liabilities			$ (10,600)		$ (10,600)
Minimum | Adjustment | Mirror Controls International
Current liabilities:
Weighted average useful life			8 years
Maximum | Adjustment | Mirror Controls International
Current liabilities:
Weighted average useful life			10 years

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - 9 months ended Dec. 31, 2015 BRL in Millions, $ in Millions	BRL	USD ($)
Commitments and Contingencies Disclosure [Abstract]
Income tax examination, estimate of possible loss	BRL 50	$ 12.8
Amount of assessment related to income and social contribution taxes interest and penalties received		$ 100

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Decrease in deferred tax asset	$ 39.3	$ 39.3
Reduction of liabilities resulting from lapse of applicable statute of limitations		$ 37.2

SHARE REPURCHASES (Details)

SHARE REPURCHASES (Details) - USD ($) shares in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Aug. 20, 2015
Treasury Stock, Number of Shares and Restriction Disclosures [Abstract]
Aggregate shares repurchased (in shares)	8.5	29
Aggregate purchase value of shares repurchased	$ 94,000,000	$ 326,400,000
Authorized amount of stock repurchase program			$ 500,000,000
Amount remaining to be repurchased under the plans	$ 328,500,000	$ 328,500,000

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2015USD ($)segment	Dec. 31, 2014USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment			4
Net sales	$ 6,763,177	$ 7,025,054	$ 18,646,187	$ 20,196,316
Intangible amortization	19,319	8,045	43,117	23,228
Stock-based compensation	24,233	14,219	56,559	36,821
Other charges (income), net	44,415	5,067	46,257	(41,526)
Interest and other, net	21,566	9,035	60,106	40,178
Income before income taxes	126,550	170,517	385,446	514,783
Operating Segments
Segment Reporting Information [Line Items]
Net sales	6,763,177	7,025,054	18,646,187	20,196,316
Total segment income	236,083	206,883	591,485	573,484
Operating Segments | Integrated Network Solutions
Segment Reporting Information [Line Items]
Net sales	2,469,099	2,358,199	6,640,626	7,139,333
Total segment income	75,578	72,654	198,400	203,008
Operating Segments | Consumer Technology Group
Segment Reporting Information [Line Items]
Net sales	2,057,850	2,647,229	5,633,903	7,078,912
Total segment income	49,032	73,200	129,045	156,401
Operating Segments | Industrial & Emerging Industries
Segment Reporting Information [Line Items]
Net sales	1,214,225	1,105,992	3,490,205	3,327,660
Total segment income	49,230	21,730	110,498	104,636
Operating Segments | High Reliability Solutions
Segment Reporting Information [Line Items]
Net sales	1,022,003	913,634	2,881,453	2,650,411
Total segment income	82,806	56,124	213,890	159,068
Operating Segments | Corporate and Other
Segment Reporting Information [Line Items]
Total segment income	$ (20,563)	$ (16,825)	$ (60,348)	$ (49,629)

SUPPLEMENTAL GUARANTOR AND NO63

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Details) $ in Millions	9 Months Ended
	Dec. 31, 2015USD ($)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
Percentage of ownership interest owned in subsidiaries that guarantees indebtedness	100.00%

SUPPLEMENTAL GUARANTOR AND NO64

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Details 2) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
Current assets:
Cash and cash equivalents	$ 1,634,194	$ 1,628,408	$ 1,707,221	$ 1,593,728
Accounts receivable	2,584,909	2,337,515
Inventories	3,490,733	3,488,752
Inter company receivable	0	0
Other current assets	1,246,768	1,286,225
Total current assets	8,956,604	8,740,900
Property and equipment, net	2,239,921	2,092,167
Goodwill and other intangible assets, net	1,317,017	415,175
Other assets	535,976	417,382
Investment in subsidiaries	0	0
Total assets	13,049,518	11,665,624
Current liabilities:
Bank borrowings and current portion of long-term debt	65,536	46,162
Accounts payable	4,802,194	4,561,194
Accrued payroll	360,009	339,739
Inter company payable	0	0
Other current liabilities	1,924,532	1,809,128
Total current liabilities	7,152,271	6,756,223
Long term liabilities	3,318,815	2,513,151
Flextronics International Ltd. shareholders’ equity (deficit)	2,543,255	2,360,814
Noncontrolling interests	35,177	35,436
Total shareholders’ equity	2,578,432	2,396,250
Total liabilities and shareholders’ equity	13,049,518	11,665,624
Reportable legal entities | Parent
Current assets:
Cash and cash equivalents	868,114	608,971	606,521	638,714
Accounts receivable	0	0
Inventories	0	0
Inter company receivable	9,102,531	6,417,410
Other current assets	5,832	8,143
Total current assets	9,976,477	7,034,524
Property and equipment, net	0	0
Goodwill and other intangible assets, net	250	475
Other assets	2,232,454	2,223,402
Investment in subsidiaries	1,965,783	1,799,956
Total assets	14,174,964	11,058,357
Current liabilities:
Bank borrowings and current portion of long-term debt	60,000	40,000
Accounts payable	0	0
Accrued payroll	0	0
Inter company payable	8,809,843	6,559,569
Other current liabilities	47,572	30,553
Total current liabilities	8,917,415	6,630,122
Long term liabilities	2,714,294	2,067,421
Flextronics International Ltd. shareholders’ equity (deficit)	2,543,255	2,360,814
Noncontrolling interests	0	0
Total shareholders’ equity	2,543,255	2,360,814
Total liabilities and shareholders’ equity	14,174,964	11,058,357
Reportable legal entities | Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	188,540	168,272	190,162	210,462
Accounts receivable	1,056,939	1,208,632
Inventories	1,487,706	1,729,593
Inter company receivable	5,282,669	4,759,062
Other current assets	249,367	202,160
Total current assets	8,265,221	8,067,719
Property and equipment, net	542,606	471,052
Goodwill and other intangible assets, net	66,969	64,831
Other assets	234,267	155,172
Investment in subsidiaries	2,813,134	1,658,387
Total assets	11,922,197	10,417,161
Current liabilities:
Bank borrowings and current portion of long-term debt	917	917
Accounts payable	1,538,397	1,758,305
Accrued payroll	109,299	112,692
Inter company payable	8,754,992	7,250,235
Other current liabilities	804,571	845,156
Total current liabilities	11,208,176	9,967,305
Long term liabilities	2,045,880	2,102,483
Flextronics International Ltd. shareholders’ equity (deficit)	(1,331,859)	(1,652,627)
Noncontrolling interests	0	0
Total shareholders’ equity	(1,331,859)	(1,652,627)
Total liabilities and shareholders’ equity	11,922,197	10,417,161
Reportable legal entities | Non-Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	577,540	851,165	910,538	744,552
Accounts receivable	1,527,970	1,128,883
Inventories	2,003,027	1,759,159
Inter company receivable	12,479,607	10,099,057
Other current assets	991,569	1,075,922
Total current assets	17,579,713	14,914,186
Property and equipment, net	1,697,315	1,621,115
Goodwill and other intangible assets, net	1,249,798	349,869
Other assets	2,087,952	2,131,523
Investment in subsidiaries	16,874,908	16,641,212
Total assets	39,489,686	35,657,905
Current liabilities:
Bank borrowings and current portion of long-term debt	4,619	5,245
Accounts payable	3,263,797	2,802,889
Accrued payroll	250,710	227,047
Inter company payable	9,299,972	7,465,725
Other current liabilities	1,072,389	933,419
Total current liabilities	13,891,487	11,434,325
Long term liabilities	2,577,338	2,435,962
Flextronics International Ltd. shareholders’ equity (deficit)	22,985,684	21,752,182
Noncontrolling interests	35,177	35,436
Total shareholders’ equity	23,020,861	21,787,618
Total liabilities and shareholders’ equity	39,489,686	35,657,905
Eliminations
Current assets:
Cash and cash equivalents	0	0	$ 0	$ 0
Accounts receivable	0	0
Inventories	0	0
Inter company receivable	(26,864,807)	(21,275,529)
Other current assets	0	0
Total current assets	(26,864,807)	(21,275,529)
Property and equipment, net	0	0
Goodwill and other intangible assets, net	0	0
Other assets	(4,018,697)	(4,092,715)
Investment in subsidiaries	(21,653,825)	(20,099,555)
Total assets	(52,537,329)	(45,467,799)
Current liabilities:
Bank borrowings and current portion of long-term debt	0	0
Accounts payable	0	0
Accrued payroll	0	0
Inter company payable	(26,864,807)	(21,275,529)
Other current liabilities	0	0
Total current liabilities	(26,864,807)	(21,275,529)
Long term liabilities	(4,018,697)	(4,092,715)
Flextronics International Ltd. shareholders’ equity (deficit)	(21,653,825)	(20,099,555)
Noncontrolling interests	0	0
Total shareholders’ equity	(21,653,825)	(20,099,555)
Total liabilities and shareholders’ equity	$ (52,537,329)	$ (45,467,799)

SUPPLEMENTAL GUARANTOR AND NO65

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Condensed consolidating statements of operations
Net sales	$ 6,763,177	$ 7,025,054	$ 18,646,187	$ 20,196,316
Cost of sales	6,310,710	6,616,397	17,444,463	19,029,793
Gross profit	452,467	408,657	1,201,724	1,166,523
Selling, general and administrative expenses	240,617	215,993	666,798	629,860
Intangible amortization	19,319	8,045	43,117	23,228
Interest and other, net	65,981	14,102	106,363	(1,348)
Income before income taxes	126,550	170,517	385,446	514,783
Provision for (benefit from) income taxes	(22,360)	17,618	2,709	49,094
Equity in earnings in subsidiaries	0	0	0	0
Net income	148,910	152,899	382,737	465,689
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	75	75	225	225
Interest and other, net	49,358	27,876	(347,663)	(24,933)
Income before income taxes	(49,433)	(27,951)	347,438	24,708
Provision for (benefit from) income taxes	0	0	0	0
Equity in earnings in subsidiaries	198,343	180,850	35,299	440,981
Net income	148,910	152,899	382,737	465,689
Reportable legal entities | Guarantor Subsidiaries
Condensed consolidating statements of operations
Net sales	4,598,248	5,164,527	13,126,846	14,702,071
Cost of sales	4,186,909	4,757,332	11,972,222	13,616,471
Gross profit	411,339	407,195	1,154,624	1,085,600
Selling, general and administrative expenses	83,750	64,161	214,015	188,788
Intangible amortization	960	937	2,881	2,624
Interest and other, net	318,367	249,948	931,754	797,142
Income before income taxes	8,262	92,149	5,974	97,046
Provision for (benefit from) income taxes	(8,071)	(5,737)	(4,630)	9,053
Equity in earnings in subsidiaries	(52,808)	(69,438)	(104,435)	(55,992)
Net income	(36,475)	28,448	(93,831)	32,001
Reportable legal entities | Non-Guarantor Subsidiaries
Condensed consolidating statements of operations
Net sales	5,717,609	5,437,970	15,167,659	15,399,047
Cost of sales	5,676,481	5,436,508	15,120,559	15,318,124
Gross profit	41,128	1,462	47,100	80,923
Selling, general and administrative expenses	156,867	151,832	452,783	441,072
Intangible amortization	18,284	7,033	40,011	20,379
Interest and other, net	(301,744)	(263,722)	(477,728)	(773,557)
Income before income taxes	167,721	106,319	32,034	393,029
Provision for (benefit from) income taxes	(14,289)	23,355	7,339	40,041
Equity in earnings in subsidiaries	(12,229)	61,337	40,531	148,946
Net income	169,781	144,301	65,226	501,934
Eliminations
Condensed consolidating statements of operations
Net sales	(3,552,680)	(3,577,443)	(9,648,318)	(9,904,802)
Cost of sales	(3,552,680)	(3,577,443)	(9,648,318)	(9,904,802)
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	(133,306)	(172,749)	28,605	(533,935)
Net income	$ (133,306)	$ (172,749)	$ 28,605	$ (533,935)

SUPPLEMENTAL GUARANTOR AND NO66

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Details 4) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Condensed consolidating statements of comprehensive income (loss)
Net income (loss)	$ 148,910	$ 152,899	$ 382,737	$ 465,689
Other comprehensive income (loss):
Foreign currency translation adjustments, net of zero tax	30,063	(15,154)	2,579	(24,982)
Unrealized gain (loss) on derivative instruments and other, net of zero tax	10,497	(22,797)	17,782	(14,505)
Comprehensive income	189,470	114,948	403,098	426,202
Reportable legal entities | Parent
Condensed consolidating statements of comprehensive income (loss)
Net income (loss)	148,910	152,899	382,737	465,689
Other comprehensive income (loss):
Foreign currency translation adjustments, net of zero tax	30,063	(15,154)	2,579	(24,982)
Unrealized gain (loss) on derivative instruments and other, net of zero tax	10,497	(22,797)	17,782	(14,505)
Comprehensive income	189,470	114,948	403,098	426,202
Reportable legal entities | Guarantor Subsidiaries
Condensed consolidating statements of comprehensive income (loss)
Net income (loss)	(36,475)	28,448	(93,831)	32,001
Other comprehensive income (loss):
Foreign currency translation adjustments, net of zero tax	64,298	96,645	7,113	190,307
Unrealized gain (loss) on derivative instruments and other, net of zero tax	4,099	(5,936)	9,883	(6,164)
Comprehensive income	31,922	119,157	(76,835)	216,144
Reportable legal entities | Non-Guarantor Subsidiaries
Condensed consolidating statements of comprehensive income (loss)
Net income (loss)	169,781	144,301	65,226	501,934
Other comprehensive income (loss):
Foreign currency translation adjustments, net of zero tax	50,828	37,167	(703)	108,504
Unrealized gain (loss) on derivative instruments and other, net of zero tax	10,497	(22,797)	17,782	(14,505)
Comprehensive income	231,106	158,671	82,305	595,933
Eliminations
Condensed consolidating statements of comprehensive income (loss)
Net income (loss)	(133,306)	(172,749)	28,605	(533,935)
Other comprehensive income (loss):
Foreign currency translation adjustments, net of zero tax	(115,126)	(133,812)	(6,410)	(298,811)
Unrealized gain (loss) on derivative instruments and other, net of zero tax	(14,596)	28,733	(27,665)	20,669
Comprehensive income	$ (263,028)	$ (277,828)	$ (5,470)	$ (812,077)

SUPPLEMENTAL GUARANTOR AND NO67

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Details 5) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Condensed consolidating statements of cash flows
Net cash provided by (used in) operating activities	$ 939,772	$ 669,424
Cash flows from investing activities:
Purchases of property and equipment, net of proceeds from disposal	(413,934)	(164,394)
Acquisition and divestiture of businesses, net of cash acquired and cash held in divested business	(900,242)	(58,132)
Investing cash flows to affiliates	0	0
Other investing activities, net	1,397	(11,517)
Net cash used in investing activities	(1,312,779)	(234,043)
Cash flows from financing activities:
Proceeds from bank borrowings and long-term debt	755,684	234,523
Repayments of bank borrowings and long-term debt	(40,706)	(251,337)
Payments for repurchases of ordinary shares	(331,690)	(290,752)
Net proceeds from issuance of ordinary shares	52,950	12,341
Financing cash flows from (to) affiliates	0	0
Other financing activities, net	(49,742)	(29,135)
Net cash provided by (used in) financing activities	386,496	(324,360)
Effect of exchange rates on cash and cash equivalents	(7,703)	2,472
Net increase in cash and cash equivalents	5,786	113,493
Cash and cash equivalents, beginning of period	1,628,408	1,593,728
Cash and cash equivalents, end of period	1,634,194	1,707,221
Reportable legal entities | Parent
Condensed consolidating statements of cash flows
Net cash provided by (used in) operating activities	343,182	(4,319)
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
Investing cash flows to affiliates	(1,099,775)	(1,163,617)
Other investing activities, net	(2,046)	(1,500)
Net cash used in investing activities	(1,101,821)	(1,165,117)
Cash flows from financing activities:
Proceeds from bank borrowings and long-term debt	695,309	223,000
Repayments of bank borrowings and long-term debt	(35,638)	(245,500)
Payments for repurchases of ordinary shares	(331,690)	(290,752)
Net proceeds from issuance of ordinary shares	52,950	12,341
Financing cash flows from (to) affiliates	632,750	1,575,271
Other financing activities, net	0	0
Net cash provided by (used in) financing activities	1,013,681	1,274,360
Effect of exchange rates on cash and cash equivalents	4,101	(137,117)
Net increase in cash and cash equivalents	259,143	(32,193)
Cash and cash equivalents, beginning of period	608,971	638,714
Cash and cash equivalents, end of period	868,114	606,521
Reportable legal entities | Guarantor Subsidiaries
Condensed consolidating statements of cash flows
Net cash provided by (used in) operating activities	(92,821)	11,083
Cash flows from investing activities:
Purchases of property and equipment, net of proceeds from disposal	(128,011)	(76,042)
Acquisition and divestiture of businesses, net of cash acquired and cash held in divested business	(809,233)	(20,092)
Investing cash flows to affiliates	(994,387)	(2,257,892)
Other investing activities, net	(23,270)	(10,597)
Net cash used in investing activities	(1,954,901)	(2,364,623)
Cash flows from financing activities:
Proceeds from bank borrowings and long-term debt	0	0
Repayments of bank borrowings and long-term debt	(1,333)	(1,686)
Payments for repurchases of ordinary shares	0	0
Net proceeds from issuance of ordinary shares	0	0
Financing cash flows from (to) affiliates	2,065,092	2,340,819
Other financing activities, net	0	0
Net cash provided by (used in) financing activities	2,063,759	2,339,133
Effect of exchange rates on cash and cash equivalents	4,231	(5,893)
Net increase in cash and cash equivalents	20,268	(20,300)
Cash and cash equivalents, beginning of period	168,272	210,462
Cash and cash equivalents, end of period	188,540	190,162
Reportable legal entities | Non-Guarantor Subsidiaries
Condensed consolidating statements of cash flows
Net cash provided by (used in) operating activities	689,411	662,660
Cash flows from investing activities:
Purchases of property and equipment, net of proceeds from disposal	(285,928)	(88,340)
Acquisition and divestiture of businesses, net of cash acquired and cash held in divested business	(91,009)	(38,040)
Investing cash flows to affiliates	(944,200)	370,504
Other investing activities, net	26,713	580
Net cash used in investing activities	(1,294,424)	244,704
Cash flows from financing activities:
Proceeds from bank borrowings and long-term debt	60,375	11,523
Repayments of bank borrowings and long-term debt	(3,735)	(4,151)
Payments for repurchases of ordinary shares	0	0
Net proceeds from issuance of ordinary shares	0	0
Financing cash flows from (to) affiliates	340,525	(865,097)
Other financing activities, net	(49,742)	(29,135)
Net cash provided by (used in) financing activities	347,423	(886,860)
Effect of exchange rates on cash and cash equivalents	(16,035)	145,482
Net increase in cash and cash equivalents	(273,625)	165,986
Cash and cash equivalents, beginning of period	851,165	744,552
Cash and cash equivalents, end of period	$ 577,540	910,538
Eliminations
Condensed consolidating statements of cash flows
Net cash provided by (used in) operating activities		0
Cash flows from investing activities:
Purchases of property and equipment, net of proceeds from disposal	$ 5	(12)
Acquisition and divestiture of businesses, net of cash acquired and cash held in divested business	0	0
Investing cash flows to affiliates	3,038,362	$ 3,051,005
Other investing activities, net	0
Net cash used in investing activities	3,038,367	$ 3,050,993
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 (to) affiliates	(3,038,367)	(3,050,993)
Other financing activities, net	0	0
Net cash provided by (used in) financing activities	(3,038,367)	(3,050,993)
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