Flex (FLEX) 10-Q 27 Jul 16 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jul. 01, 2016	Jul. 22, 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	Jul. 1, 2016
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding (shares)		545,468,473
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 01, 2016	Mar. 31, 2016
Current assets:
Cash and cash equivalents	$ 1,679,335	$ 1,607,570
Accounts receivable, net of allowance for doubtful accounts of $66,385 and $64,608 as of July 1, 2016 and March 31, 2016, respectively	2,057,943	2,044,757
Inventories	3,594,837	3,491,656
Other current assets	1,088,844	1,171,143
Total current assets	8,420,959	8,315,126
Property and equipment, net	2,296,445	2,257,633
Goodwill and other intangible assets, net	1,324,614	1,345,820
Other assets	466,506	466,402
Total assets	12,508,524	12,384,981
Current liabilities:
Bank borrowings and current portion of long-term debt	66,020	65,166
Accounts payable	4,317,571	4,248,292
Accrued payroll	377,527	353,547
Other current liabilities	1,866,585	1,905,200
Total current liabilities	6,627,703	6,572,205
Long-term debt, net of current portion	2,692,596	2,709,389
Other liabilities	521,631	497,857
Commitments and contingencies (Note 11)
Flextronics International Ltd. shareholders’ equity
Ordinary shares, no par value; 596,396,914 and 595,062,966 issued, and 546,157,559 and 544,823,611 outstanding as of July 1, 2016 and March 31, 2016, respectively	6,922,811	6,987,214
Treasury stock, at cost; 50,239,355 shares as of July 1, 2016 and March 31, 2016	(388,215)	(388,215)
Accumulated deficit	(3,786,483)	(3,892,212)
Accumulated other comprehensive loss	(124,706)	(135,915)
Total Flextronics International Ltd. shareholders’ equity	2,623,407	2,570,872
Noncontrolling interests	43,187	34,658
Total shareholders’ equity	2,666,594	2,605,530
Total liabilities and shareholders’ equity	$ 12,508,524	$ 12,384,981

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jul. 01, 2016	Mar. 31, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 66,385	$ 64,608
Ordinary shares, par value (in dollars per share)	$ 0	$ 0
Ordinary shares, issued (shares)	596,396,914	595,062,966
Ordinary shares, outstanding (shares)	546,157,559	544,823,611
Treasury stock, shares (shares)	50,239,355	50,239,355

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jul. 01, 2016	Jun. 26, 2015
Income Statement [Abstract]
Net sales	$ 5,876,813	$ 5,566,248
Cost of sales	5,470,818	5,213,907
Gross profit	405,995	352,341
Selling, general and administrative expenses	239,546	209,385
Intangible amortization	21,598	7,671
Interest and other, net	24,399	16,505
Other charges, net	3,529	164
Income before income taxes	116,923	118,616
Provision for income taxes	11,194	7,766
Net income	$ 105,729	$ 110,850
Earnings per share
Basic (in dollars per share)	$ 0.19	$ 0.20
Diluted (in dollars per share)	$ 0.19	$ 0.19
Weighted-average shares used in computing per share amounts:
Basic (shares)	544,631	565,545
Diluted (shares)	551,029	577,997

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Jul. 01, 2016	Jun. 26, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 105,729	$ 110,850
Other comprehensive income:
Foreign currency translation adjustments, net of zero tax	9,861	2,783
Unrealized gain on derivative instruments and other, net of zero tax	1,348	12,829
Comprehensive income	$ 116,938	$ 126,462

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($)	3 Months Ended
	Jul. 01, 2016	Jun. 26, 2015
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ 0	$ 0
Unrealized gain (loss) on derivative instruments and other, tax	$ 0	$ 0

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jul. 01, 2016	Jun. 26, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 105,729	$ 110,850
Depreciation, amortization and other impairment charges	129,500	110,119
Changes in working capital and other	28,703	141,307
Net cash provided by operating activities	263,932	362,276
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(159,103)	(138,348)
Proceeds from the disposition of property and equipment	15,722	1,512
Acquisition of businesses, net of cash acquired	(9,492)	(18,580)
Proceeds from divestiture of business, net of cash held in divested business	14,828	1,000
Other investing activities, net	26,261	(7,580)
Net cash used in investing activities	(111,784)	(161,996)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from bank borrowings and long-term debt	75,018	595,548
Repayments of bank borrowings and long-term debt	(92,222)	(8,457)
Payments for repurchases of ordinary shares	(94,715)	(99,995)
Net proceeds from issuance of ordinary shares	3,966	44,602
Other financing activities, net	12,901	(25,252)
Net cash (used in) provided by financing activities	(95,052)	506,446
Effect of exchange rates on cash and cash equivalents	14,669	(3,723)
Net increase in cash and cash equivalents	71,765	703,003
Cash and cash equivalents, beginning of period	1,607,570	1,628,408
Cash and cash equivalents, end of period	1,679,335	2,331,411
Non-cash investing activity:
Unpaid purchases of property and equipment	$ 85,571	$ 122,601

ORGANIZATION OF THE COMPANY AND

ORGANIZATION OF THE COMPANY AND BASIS OF PRESENTATION	3 Months Ended
	Jul. 01, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION OF THE COMPANY AND BASIS OF PRESENTATION	ORGANIZATION OF THE COMPANY AND BASIS OF PRESENTATION Organization of the Company Flextronics International Ltd. ("Flex", or the "Company") was incorporated in the Republic of Singapore in May 1990. The Company's operations have expanded over the years through a combination of organic growth and acquisitions. The Company is a globally-recognized leading provider of innovative design, engineering, manufacturing, and supply chain services and solutions that span from sketch to scale tm ; from conceptual sketch to full-scale production. The Company designs, builds, ships and services complete packaged consumer electronics and industrial products for original equipment manufacturers ("OEMs"), through its activities in the following segments: High Reliability Solutions ("HRS"), which is comprised of medical business including consumer health, digital health, disposables, drug delivery, diagnostics, life sciences and imaging equipment; automotive business, including vehicle electronics, connectivity, and clean technologies; and defense and aerospace businesses, focused on commercial aviation, defense and military; Consumer Technologies Group ("CTG"), which includes mobile devices business, including smart phones; consumer electronics business, including connected living, wearable electronics including digital sport, game consoles, and connectivity devices; and high-volume computing business, including various supply chain solutions for notebook personal computers ("PC"), tablets, and printers; in addition, CTG group is expanding its business relationships to include supply chain optimization for non-electronics products such as shoes and clothing; Industrial and Emerging Industries ("IEI"), which is comprised of semiconductor and capital equipment, office solutions, household industrial and lifestyle, industrial automation and kiosks, energy and metering, and lighting; and Communications & Enterprise Compute ("CEC"), includes radio access base stations, remote radio heads, and small cells for wireless infrastructure; optical, routing, broadcasting, and switching products for the data and video networks; server and storage platforms for both enterprise and cloud-based deployments; next generation storage and security appliance products; and rack level solutions, converged infrastructure and software-defined product solutions. The Company's strategy is to provide customers with a full range of cost competitive, vertically integrated global supply chain solutions through which the Company can design, build, ship and service a complete packaged product for its OEM customers. This enables the Company's OEM customers to leverage the Company's supply chain solutions to meet their product requirements throughout the entire product life cycle. The Company's service offerings include a comprehensive range of value-added design and engineering services that are tailored to the various markets and needs of its customers. Other focused service offerings relate to manufacturing (including enclosures, metals, plastic injection molding, precision plastics, machining, and mechanicals), system integration and assembly and test services, materials procurement, inventory management, logistics and after-sales services (including product repair, warranty services, re-manufacturing and maintenance) and supply chain management software solutions and component product offerings (including rigid and flexible printed circuit boards and power adapters and chargers). Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP” or “GAAP”) for interim financial information and in accordance with the requirements of Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements, and should be read in conjunction with the Company’s audited consolidated financial statements as of and for the fiscal year ended March 31, 2016 contained in the Company’s Annual Report on Form 10-K. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three-month period ended July 1, 2016 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2017 . The first quarters for fiscal year 2017 and fiscal year 2016 ended on July 1, 2016 , which is comprised of 92 days in the period, and June 26, 2015 , which is comprised of 87 days in the period, respectively. The accompanying unaudited condensed consolidated financial statements include the accounts of Flex and its majority-owned subsidiaries, after elimination of intercompany accounts and transactions. The Company consolidates its majority-owned subsidiaries and investments in entities in which the Company has a controlling interest. For the consolidated majority-owned subsidiaries in which the Company owns less than 100%, the Company recognizes a noncontrolling interest for the ownership of the noncontrolling owners. Noncontrolling interests are presented as a separate component of total shareholders' equity in the condensed consolidated balance sheets. The associated noncontrolling owners' interests are immaterial for all of the periods presented, and are included in interest and other, net in the condensed consolidated statements of operations. The Company has certain non-majority-owned equity investments in non-publicly traded companies that are accounted for using the equity method of accounting. The equity method of accounting is used when the Company has the ability to significantly influence the operating decisions of the issuer, or if the Company has an ownership percentage of a corporation equal to or generally greater than 20% but less than 50%, and for non-majority-owned investments in partnerships when generally greater than 5%. The equity in earnings (losses) of equity method investees are immaterial for all of the periods presented, and are included in interest and other, net in the condensed consolidated statements of operations. Recently Adopted Accounting Pronouncement In March 2016, the Financial Accounting Standards Board ("FASB") issued new guidance intended to reduce the cost and complexity of the accounting for share-based payments. The new guidance simplifies various aspects of the accounting for share-based payments including income tax effects, withholding requirements and forfeitures. The Company elected to early adopt this new guidance during the three-month period ended July 1, 2016 . The guidance eliminates additional paid in capital ("APIC") pools and requires companies to recognize all excess tax benefits and tax deficiencies in the income statement when the awards vest or are settled. It also addresses the presentation of excess tax benefits and employee taxes paid on the statement of cash flows. Prior to adoption, the Company elected to not deduct tax benefits for stock-based compensation awards on its tax returns, and accordingly, did not have any excess tax benefits or tax deficiencies upon adoption. The Company therefore determined that adoption of the new guidance had no impact on the condensed consolidated statement of operations and the condensed consolidated statement of cash flows. Further, the new guidance eliminates the requirement to estimate forfeitures and reduce stock compensation expense during the vesting period. Instead, companies can elect to account for actual forfeitures as they occur and record any previously unrecognized compensation expense for estimated forfeitures up to the period of adoption as a retrospective adjustment to beginning retained earnings. The Company has made the election to account for actual forfeitures as they occur starting in fiscal year 2017. After assessment, it was determined that the cumulative effect adjustment required under the new guidance was immaterial and therefore the Company did not record a retrospective adjustment. The Company finally determined that the adoption of this guidance did not have a significant impact on the consolidated financial position, results of operations and cash flows of the Company.

BALANCE SHEET ITEMS

BALANCE SHEET ITEMS	3 Months Ended
	Jul. 01, 2016
Balance Sheet Related Disclosures [Abstract]
BALANCE SHEET ITEMS	BALANCE SHEET ITEMS Inventories The components of inventories, net of applicable lower of cost or market write-downs, were as follows: As of July 1, 2016 As of March 31, 2016 (In thousands) Raw materials $ 2,347,860 $ 2,234,512 Work-in-progress 493,056 561,282 Finished goods 753,921 695,862 $ 3,594,837 $ 3,491,656 Goodwill and Other Intangible Assets The following table summarizes the activity in the Company’s goodwill account for each of its four segments during the three-month period ended July 1, 2016 : HRS CTG IEI CEC Amount (In thousands) Balance, beginning of the year $ 439,336 $ 68,234 $ 322,803 $ 111,693 $ 942,066 Additions (1) (2) (1,787 ) — 9,544 — 7,757 Purchase accounting adjustments (3) 794 — — — 794 Foreign currency translation adjustments (5,852 ) — — — (5,852 ) Balance, end of the period $ 432,491 $ 68,234 $ 332,347 $ 111,693 $ 944,765 (1) The goodwill generated from the Company’s business combination completed during the three-month period ended July 1, 2016 is primarily related to value placed on the acquired employee workforce, service offerings and capabilities of an acquired business. The goodwill is not deductible for income tax purposes. See note 10 for additional information. (2) During the three-month period ended July 1, 2016 , the Company disposed of a non-strategic business within the HRS segment, and recorded a reduction of goodwill of $1.8 million accordingly, which is included in the loss on sale in other expense on the condensed consolidated statement of operations. (3) Includes adjustments to estimates resulting from the finalization of management's review of the valuation of assets acquired and liabilities assumed through certain business combinations completed in a period subsequent to the respective acquisition. These adjustments were not individually, nor in the aggregate, significant to the Company. The components of acquired intangible assets are as follows: As of July 1, 2016 As of March 31, 2016 Gross Accumulated Net Gross Accumulated Net (In thousands) Intangible assets: Customer-related intangibles $ 221,466 $ (77,693 ) $ 143,773 $ 223,046 $ (66,473 ) $ 156,573 Licenses and other intangibles 283,743 (47,667 ) 236,076 285,053 (37,872 ) 247,181 Total $ 505,209 $ (125,360 ) $ 379,849 $ 508,099 $ (104,345 ) $ 403,754 The gross carrying amounts of intangible assets are removed when fully amortized. During the three-month period ended July 1, 2016 , the total value of intangible assets decreased primarily as a result of additional amortization and foreign currency translation adjustments. The estimated future annual amortization expense for intangible assets is as follows: Fiscal Year Ending March 31, Amount (In thousands) 2017 (1) $ 55,390 2018 62,414 2019 55,825 2020 47,288 2021 43,025 Thereafter 115,907 Total amortization expense $ 379,849 ____________________________________________________________ (1) Represents estimated amortization for the remaining nine -month period ending March 31, 2017 . Other Current Assets Other current assets include approximately $460.3 million and $501.1 million as of July 1, 2016 and March 31, 2016 , respectively, for the deferred purchase price receivable from the Company's Global and North American Asset-Backed Securitization programs. See note 8 for additional information. Also included in other current assets is the value of certain assets purchased on behalf of a customer and financed by a third party banking institution in the amounts of $83.8 million and $83.6 million as of July 1, 2016 and March 31, 2016 , respectively. Other Current Liabilities Other current liabilities include customer working capital advances of $219.3 million and $253.7 million , customer-related accruals of $498.5 million and $479.5 million , and deferred revenue of $330.0 million and $332.3 million as of July 1, 2016 and March 31, 2016 , respectively. The customer working capital advances are not interest-bearing, do not have fixed repayment dates and are generally reduced as the underlying working capital is consumed in production. Other current liabilities also include the outstanding balance due to the third party banking institution related to the financed equipment discussed above of $96.9 million and $122.0 million as of July 1, 2016 and March 31, 2016 , respectively.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	3 Months Ended
	Jul. 01, 2016
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION The Company's primary plan used for granting equity compensation awards is the 2010 Equity Incentive Plan (the "2010 Plan"). During fiscal year 2016, in conjunction with the acquisition of NEXTracker Inc. ("NEXTracker"), the Company assumed all of the outstanding, unvested share bonus awards and outstanding, unvested options to purchase shares of common stock of NEXTracker, and converted all of these shares into Flex awards. As a result, the Company now offers the 2014 NEXTracker Equity Incentive Plan (the "NEXTracker Plan"). Further, during the first quarter of fiscal year 2017, in conjunction with an immaterial acquisition, the Company assumed all of the outstanding, unvested options to purchase shares of common stock of the acquiree, and converted all of these shares into Flex awards. As a result, the Company now offers an additional equity compensation plan, the BrightBox Technologies 2013 Plan (the "BrightBox Plan"). The Company early adopted new guidance intended to reduce cost and complexity of the accounting for share-based payments, as discussed further in note 1. The following table summarizes the Company’s share-based compensation expense: Three-Month Periods Ended July 1, 2016 June 26, 2015 (In thousands) Cost of sales $ 2,433 $ 2,018 Selling, general and administrative expenses 21,364 14,108 Total share-based compensation expense $ 23,797 $ 16,126 The 2010 Equity Incentive Plan Total unrecognized compensation expense related to share options under the 2010 Plan is not significant. As of July 1, 2016 , the number of options outstanding and exercisable under the 2010 Plan was 1.2 million at a weighted-average exercise price of $8.49 per share, for both. During the three-month period ended July 1, 2016 , the Company granted 5.6 million unvested share bonus awards under the 2010 Plan. Of this amount, approximately 4.7 million unvested share bonus awards have an average grant date price of $12.80 per share. Further, approximately 0.7 million of these unvested shares represents the target amount of grants made to certain key employees whereby vesting is contingent on certain market conditions. The average grant date fair value of these awards contingent on certain market conditions was estimated to be $17.57 per award and was calculated using a Monte Carlo simulation. The remaining 0.2 million of unvested shares bonus awards under the 2010 Plan have an average grant date price of $12.82 per share and represents the target amount of grants made to certain executive officers whereby vesting is contingent on meeting certain free cash flow targets. The number of shares under the 2010 Plan, contingent on market conditions that ultimately will vest range from zero up to a maximum of 1.4 million based on a measurement of the percentile rank of the Company’s total shareholder return over a certain specified period against the Standard and Poor’s (“S&P”) 500 Composite Index and will cliff vest after a period of three years, if such market conditions have been met. The number of shares under the 2010 Plan, contingent on free cash flow targets that ultimately will vest range from zero up to a maximum of 0.4 million of the target payment based on a measurement of cumulative three -year increase of free cash flow from operations of the Company, and will cliff vest after a period of three years. As of July 1, 2016 , approximately 16.4 million unvested share bonus awards under the 2010 Plan were outstanding, of which vesting for a targeted amount of 2.3 million is contingent primarily on meeting certain market conditions. The number of shares that will ultimately be issued can range from zero to 4.6 million based on the achievement levels of the respective conditions. During the three -month period ended July 1, 2016 , 3.5 million shares under the 2010 Plan vested in connection with the share bonus awards with market conditions granted in fiscal year 2014. As of July 1, 2016 , total unrecognized compensation expense related to unvested share bonus awards under the 2010 Plan is $177.4 million , and will be recognized over a weighted-average remaining vesting period of 3.0 years. Approximately $30.1 million of the total unrecognized compensation cost, is related to awards under the 2010 Plan whereby vesting is contingent on meeting certain market conditions. The 2014 NEXTracker Equity Incentive Plan All shares previously granted under the NEXTracker plan are the result of the Company's conversion of all outstanding, unvested shares of NEXTracker into unvested shares of the Company, as part of the acquisition. Therefore, no additional share options or share bonus awards were granted by the Company during the three-month period ended July 1, 2016 . As of July 1, 2016 , total unrecognized compensation expense related to share options under the NEXTracker Plan is $14.0 million , and will be recognized over a weighted-average remaining vesting period of 2.6 years. As of July 1, 2016 , the number of options outstanding and exercisable was 2.4 million and 0.3 million , respectively, at a weighted-average exercise price of $3.79 per share and $5.35 per share, respectively. As of July 1, 2016 , approximately 2.3 million unvested share bonus awards were outstanding. The total unrecognized compensation expense related to these unvested share bonus awards under the NEXTracker Plan is $16.5 million , and will be recognized over a weighted-average remaining vesting period of 2.1 years. The BrightBox Technologies 2013 Plan During the three-month period ended July 1, 2016 , the Company granted 0.2 million share options under the BrightBox Plan, at an average grant date fair value price of $11.99 per share, and with a vesting period of three years from the vesting commencement date. All shares granted under the BrightBox plan are the result of the Company's conversion of all outstanding, unvested shares of BrightBox into unvested shares of the Company, as part of the acquisition. No additional grants will be made out of this plan in the future. As of July 1, 2016 , total unrecognized compensation expense related to share options under the BrightBox Plan is $1.8 million, and will be recognized over a weighted-average remaining vesting period of 2.9 years. As of July 1, 2016 , the number of options outstanding was 0.2 million , at a weighted-average exercise price of $0.51 per share. No options under this plan were exercisable as of July 1, 2016 .

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Jul. 01, 2016
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table reflects the basic weighted-average ordinary shares outstanding and diluted weighted-average ordinary share equivalents used to calculate basic and diluted earnings per share attributable to the shareholders of Flextronics International Ltd.: Three-Month Periods Ended July 1, 2016 June 26, 2015 (In thousands, except per share amounts) Net income $ 105,729 $ 110,850 Shares used in computation: Weighted-average ordinary shares outstanding 544,631 565,545 Basic earnings per share 0.19 0.20 Diluted earnings per share: Net income $ 105,729 $ 110,850 Shares used in computation: Weighted-average ordinary shares outstanding 544,631 565,545 Weighted-average ordinary share equivalents from stock options and awards (1) 6,398 12,452 Weighted-average ordinary shares and ordinary share equivalents outstanding 551,029 577,997 Diluted earnings per share 0.19 0.19 ____________________________________________________________ (1) Options to purchase ordinary shares of 1.0 million and 2.0 million during the three -month periods ended July 1, 2016 and June 26, 2015 , respectively, and share bonus awards of 0.8 million for the three-month period ended July 1, 2016 , were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted-average ordinary share equivalents. No anti-dilutive share bonus awards were excluded for the three-month period ended June 26, 2015 .

INTEREST AND OTHER, NET

INTEREST AND OTHER, NET	3 Months Ended
	Jul. 01, 2016
Other Nonoperating Income (Expense) [Abstract]
INTEREST AND OTHER, NET	INTEREST AND OTHER, NET During the three-month periods ended July 1, 2016 and June 26, 2015 , the Company recognized interest expense of $26.9 million and $20.1 million , respectively, on its debt obligations outstanding.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	3 Months Ended
	Jul. 01, 2016
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 July 1, 2016 , the aggregate notional amount of the Company’s outstanding foreign currency contracts was $4.1 billion as summarized below: Foreign Currency Amount Notional Contract Value in USD Currency Buy Sell Buy Sell (In thousands) Cash Flow Hedges CNY 912,000 — $ 137,283 $ — EUR 38,380 131,471 42,616 149,493 HUF 15,656,000 — 54,854 — ILS 101,600 — 26,359 — INR 1,200,326 — 17,300 — MXN 1,596,000 — 86,154 — MYR 184,000 10,000 45,590 2,478 RON 71,600 — 17,567 — Other N/A N/A 35,075 — 462,798 151,971 Other Foreign Currency Contracts BRL — 387,000 — 119,618 CHF 7,341 24,799 7,493 25,317 CNY 889,314 — 133,700 — DKK 198,100 157,200 29,573 23,468 EUR 827,266 1,019,015 919,695 1,133,079 GBP 33,926 59,056 46,021 80,247 HUF 44,240,000 40,598,000 155,005 142,244 ILS 128,800 124,420 33,416 32,280 INR 5,510,229 13,599 81,695 200 MXN 1,578,370 353,640 85,202 19,090 MYR 348,847 33,900 86,434 8,399 PLN 107,804 59,773 27,076 15,013 RON 102,172 85,811 25,068 21,054 SEK 450,235 817,956 53,085 96,704 Other N/A N/A 57,985 26,215 1,741,448 1,742,928 Total Notional Contract Value in USD $ 2,204,246 $ 1,894,899 As of July 1, 2016 , the fair value of the Company’s short-term foreign currency contracts was not material and is included in other current assets or other current liabilities, as applicable, in the condensed consolidated balance sheets. Certain of these contracts are designed to economically hedge the Company’s exposure to monetary assets and liabilities denominated in a non-functional currency and are not accounted for as hedges under the accounting standards. Accordingly, changes in the fair value of these instruments are recognized in earnings during the period of change as a component of interest and other, net in the condensed consolidated statements of operations. As of July 1, 2016 and March 31, 2016 , the Company also has included net deferred gains and losses in accumulated other comprehensive loss, a component of shareholders’ equity in the condensed consolidated balance sheets, relating to changes in fair value of its foreign currency contracts that are accounted for as cash flow hedges. These deferred gains were $1.6 million as of July 1, 2016 , and are expected to be recognized primarily as a component of cost of sales in the condensed consolidated statements of operations primarily over the next twelve-month period. The gains and losses recognized in earnings due to hedge ineffectiveness were not material for all fiscal periods presented and are included as a component of interest and other, net in the condensed consolidated statements of operations. The following table presents the fair value of the Company’s derivative instruments utilized for foreign currency risk management purposes: Fair Values of Derivative Instruments Asset Derivatives Liability Derivatives Fair Value Fair Value Balance Sheet July 1, March 31, Balance Sheet July 1, March 31, (In thousands) Derivatives designated as hedging instruments Foreign currency contracts Other current assets $ 6,645 $ 5,510 Other current liabilities $ 4,424 $ 2,446 Derivatives not designated as hedging instruments Foreign currency contracts Other current assets $ 10,744 $ 17,138 Other current liabilities $ 7,434 $ 18,645 The Company has financial instruments subject to master netting arrangements, which provides for the net settlement of all contracts with a single counterparty. The Company does not offset fair value amounts for assets and liabilities recognized for derivative instruments under these arrangements, and as such, the asset and liability balances presented in the table above reflect the gross amounts of derivatives in the condensed consolidated balance sheets. The impact of netting derivative assets and liabilities is not material to the Company’s financial position for any of the periods presented.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	3 Months Ended
	Jul. 01, 2016
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The changes in accumulated other comprehensive loss by component, net of tax, are as follows: Three-Month Periods Ended July 1, 2016 June 26, 2015 Unrealized gain Foreign currency Total Unrealized gain Foreign currency Total (In thousands) Beginning balance $ (41,522 ) $ (94,393 ) $ (135,915 ) $ (68,266 ) $ (112,239 ) $ (180,505 ) Other comprehensive gain (loss) before reclassifications 1,493 10,086 11,579 (601 ) 2,631 2,030 Net (gains) losses reclassified from accumulated other comprehensive loss (145 ) (225 ) (370 ) 13,430 152 13,582 Net current-period other comprehensive gain 1,348 9,861 11,209 12,829 2,783 15,612 Ending balance $ (40,174 ) $ (84,532 ) $ (124,706 ) $ (55,437 ) $ (109,456 ) $ (164,893 ) Net gains reclassified from accumulated other comprehensive loss during the three -month period ended July 1, 2016 relating to derivative instruments and other includes $0.6 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. Substantially all unrealized losses relating to derivative instruments and other, reclassified from accumulated other comprehensive loss for the three-month periods ended June 26, 2015 , was recognized as a component of cost of sales in the condensed consolidated statement of operations, which primarily relate to the Company’s foreign currency contracts accounted for as cash flow hedges.

TRADE RECEIVABLES SECURITIZATIO

TRADE RECEIVABLES SECURITIZATION	3 Months Ended
	Jul. 01, 2016
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
TRADE RECEIVABLES SECURITIZATION	TRADE RECEIVABLES SECURITIZATION The Company sells trade receivables under two asset-backed securitization programs and under an accounts receivable factoring program. Asset-Backed Securitization Programs The Company continuously sells designated pools of trade receivables under its Global Asset-Backed Securitization Agreement (the “Global Program”) and its North American Asset-Backed Securitization Agreement (the “North American Program,” collectively, the “ABS Programs”) to affiliated special purpose entities, each of which in turn sells 100% of the receivables to unaffiliated financial institutions. These programs allow the operating subsidiaries to receive a cash payment and a deferred purchase price receivable for sold receivables. Following the transfer of the receivables to the special purpose entities, the transferred receivables are isolated from the Company and its affiliates, and upon the sale of the receivables from the special purpose entities to the unaffiliated financial institutions, effective control of the transferred receivables is passed to the unaffiliated financial institutions, which has the right to pledge or sell the receivables. Although the special purpose entities are consolidated by the Company, they are separate corporate entities and their assets are available first to satisfy the claims of their creditors. The investment limits set by the financial institutions are $700.0 million for the Global Program, of which $600.0 million is committed and $100.0 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 periods ended July 1, 2016 and June 26, 2015 were not material and are included in interest and other, net within the condensed consolidated statements of operations. As the Company estimates the fee it receives in return for its obligation to service these receivables is at fair value, no servicing assets and liabilities are recognized. As of July 1, 2016 , approximately $1.3 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 $885.0 million and deferred purchase price receivables of approximately $460.3 million . As of March 31, 2016 , approximately $1.4 billion of accounts receivable had been sold to the special purpose entities for which the Company had received net cash proceeds of $880.8 million and deferred purchase price receivables of approximately $501.1 million . The portion of the purchase price for the receivables which is not paid by the unaffiliated financial institutions in cash is a deferred purchase price receivable, which is paid to the special purpose entity as payments on the receivables are collected from account debtors. The deferred purchase price receivable represents a beneficial interest in the transferred financial assets and is recognized at fair value as part of the sale transaction. The deferred purchase price receivables are included in other current assets as of July 1, 2016 and March 31, 2016 , and were carried at the expected recovery amount of the related receivables. The difference between the carrying amount of the receivables sold under these programs and the sum of the cash and fair value of the deferred purchase price receivables received at time of transfer is recognized as a loss on sale of the related receivables and recorded in interest and other, net in the condensed consolidated statements of operations and were immaterial for all periods presented. As of July 1, 2016 and March 31, 2016 , the accounts receivable balances that were sold under the ABS Programs were removed from the condensed consolidated balance sheets and the net cash proceeds received by the Company were included as cash provided by operating activities in the condensed consolidated statements of cash flows. For the three-month periods ended July 1, 2016 and June 26, 2015 , cash flows from sales of receivables under the ABS Programs consisted of approximately $1.4 billion and $1.1 billion , for transfers of receivables, respectively (of which approximately $59.5 million and $162.7 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 July 1, 2016 June 26, 2015 (In thousands) Beginning balance $ 501,097 $ 600,672 Transfers of receivables 762,184 767,048 Collections (802,947 ) (851,433 ) Ending balance $ 460,334 $ 516,287 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 $348.4 million and $339.4 million as of July 1, 2016 and March 31, 2016 , respectively. For the three-month periods ended July 1, 2016 and June 26, 2015 , total accounts receivable sold to certain third party banking institutions was approximately $453.0 million and $637.9 million , 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	3 Months Ended
	Jul. 01, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES	FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact, and it considers assumptions that market participants would use when pricing the asset or liability. The accounting guidance for fair value establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is as follows: Level 1 - Applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. The Company has deferred compensation plans for its officers and certain other employees. Amounts deferred under the plans are invested in hypothetical investments selected by the participant or the participant’s investment manager. The Company’s deferred compensation plan assets are for the most part included in other noncurrent assets on the condensed consolidated balance sheets and primarily include investments in equity securities that are valued using active market prices. Level 2 - Applies to assets or liabilities for which there are inputs other than quoted prices included within level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets) such as cash and cash equivalents and money market funds; or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. The Company values foreign exchange forward contracts using level 2 observable inputs which primarily consist of an income approach based on the present value of the forward rate less the contract rate multiplied by the notional amount. The Company’s cash equivalents are comprised of bank deposits and money market funds, which are valued using level 2 inputs, such as interest rates and maturity periods. Due to their short-term nature, their carrying amount approximates fair value. The Company’s deferred compensation plan assets also include money market funds, mutual funds, corporate and government bonds and certain convertible securities that are valued using prices obtained from various pricing sources. These sources price these investments using certain market indices and the performance of these investments in relation to these indices. As a result, the Company has classified these investments as level 2 in the fair value hierarchy. Level 3 - Applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Company has accrued for contingent consideration in connection with its business acquisitions, which is measured at fair value based on certain internal models and unobservable inputs. 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. The following table summarizes the activities related to contingent consideration: Three-Month Periods Ended July 1, June 26, (In thousands) Beginning balance $ 73,423 $ 4,500 Additions to accrual — — Payments — — Fair value adjustments 1,835 — Ending balance $ 75,258 $ 4,500 The Company values deferred purchase price receivables relating to its asset-backed securitization program based on a discounted cash flow analysis using unobservable inputs (i.e., level 3 inputs), which are primarily risk free interest rates adjusted for the credit quality of the underlying creditor. Due to its high credit quality and short term maturity, the fair value approximates carrying value. Significant increases in either of the major unobservable inputs (credit spread, risk free interest rate) in isolation would result in lower fair value estimates, however the impact is not meaningful. The interrelationship between these inputs is also insignificant. Refer to note 8 for a reconciliation of the change in the deferred purchase price receivable during the three-month periods ended July 1, 2016 and June 26, 2015 . There were no transfers between levels in the fair value hierarchy during the three-month periods ended July 1, 2016 and June 26, 2015 . Financial Instruments Measured at Fair Value on a Recurring Basis The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis: Fair Value Measurements as of July 1, 2016 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet) $ — $ 896,031 $ — $ 896,031 Deferred purchase price receivable (Note 8) — — 460,334 460,334 Foreign exchange contracts (Note 6) — 17,389 — 17,389 Deferred compensation plan assets: 0 Mutual funds, money market accounts and equity securities 8,504 41,455 — 49,959 Liabilities: 0 Foreign exchange contracts (Note 6) $ — $ (11,858 ) $ — $ (11,858 ) Contingent consideration in connection with business acquisitions — — (75,258 ) (75,258 ) Fair Value Measurements as of March 31, 2016 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet) $ — $ 1,074,132 $ — $ 1,074,132 Deferred purchase price receivable (Note 8) — — 501,097 501,097 Foreign exchange contracts (Note 6) — 22,648 — 22,648 Deferred compensation plan assets: 0 Mutual funds, money market accounts and equity securities 9,228 40,556 — 49,784 Liabilities: 0 Foreign exchange contracts (Note 6) $ — $ (21,091 ) $ — $ (21,091 ) Contingent consideration in connection with business acquisitions — — (73,423 ) (73,423 ) Other financial instruments The following table presents the Company’s debt not carried at fair value: As of July 1, 2016 As of March 31, 2016 Carrying Fair Carrying Fair Fair Value (In thousands) Term Loan, including current portion, due in installments through August 2018 $ 573,750 $ 567,295 $ 577,500 $ 573,533 Level 1 Term Loan, including current portion, due in installments through March 2019 536,250 527,536 547,500 542,709 Level 1 4.625% Notes due February 2020 500,000 523,650 500,000 524,735 Level 1 5.000% Notes due February 2023 500,000 524,296 500,000 507,500 Level 1 4.750% Notes due June 2025 595,684 613,950 595,589 604,926 Level 1 Total $ 2,705,684 $ 2,756,727 $ 2,720,589 $ 2,753,403 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 $55.5 million as of July 1, 2016 ), 5 -year, unsecured, term-loan due September 30, 2020 based on the current market rate, and as of July 1, 2016 , the carrying amount approximates fair value.

BUSINESS AND ASSETS ACQUISITION

BUSINESS AND ASSETS ACQUISITIONS & DIVESTITIURES	3 Months Ended
	Jul. 01, 2016
Business Combinations [Abstract]
BUSINESS AND ASSETS ACQUISITIONS & DIVESTITURES	BUSINESS AND ASSETS ACQUISITIONS & DIVESTITURES On May 16, 2016, the Company acquired 100% of the outstanding share capital of a software architecture and data science solutions company, which strengthens the Company's capabilities in the energy market within the IEI segment. The Company paid $8.9 million , net of $0.2 million of cash acquired. The property and equipment acquired and liabilities assumed were not material to the Company's consolidated financial results. The Company also recorded $9.5 million of goodwill and intangibles of $1.7 million , and assumed the equity incentive plan of the acquiree. Results of operations were included in the Company’s condensed consolidated financial results beginning on the date of acquisition, and was not material to the Company’s consolidated financial results for the three-month period ended July 1, 2016 . During the three-month period ended July 1, 2016 , the Company disposed of a non-strategic business within the HRS segment. The Company received $12.5 million of proceeds, net of an immaterial amount of cash held in the divested business. The property and equipment sold and liabilities transferred were not material to the Company's consolidated financial results. The loss on disposition was not material to the Company’s consolidated financial results, and is included in other charges, net in the condensed consolidated statements of operations for the three-month period ended July 1, 2016 . Pro-forma results of operations for the acquisition have not been presented, because the effects were immaterial to the Company’s financial results 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	3 Months Ended
	Jul. 01, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES During the third quarter of fiscal 2014, one of the Company's Brazilian subsidiaries received an assessment for certain sales and import taxes. The tax assessment notice was for nine months of calendar year 2010 for an alleged amount of 52 million Brazilian reals (approximately USD $16 million based on the exchange rate as of July 1, 2016 ) plus interest. This assessment is in the second stage of the review process at the administrative level. During the fourth quarter of fiscal year 2016, the same Brazilian subsidiary received a further assessment related to the same import taxes of an additional 57 million Brazilian reals (approximately USD $18 million based on the exchange rate as of July 1, 2016) plus interest. This assessment is in the first stage of the review process at the administrative level. The Company plans to continue to vigorously oppose both of these assessments, 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 either of these claims for several years. During fiscal year 2015, one of the Company's non-operating Brazilian subsidiaries received an assessment of an approximately USD $100 million related to income and social contribution taxes, interest and penalties. During the first quarter of fiscal year 2017, the Company received a final favorable judgment in the judicial process reversing the assessment and the case is now closed. As the Company had previously determined there was no legal basis for the assessment, no adjustment was required to be recorded during the first quarter of fiscal year 2017. In addition, from time to time, the Company is subject to legal proceedings, claims, and litigation arising in the ordinary course of business. The Company defends itself vigorously against any such claims. Although the outcome of these matters is currently not determinable, management expects that any losses that are probable or reasonably possible of being incurred as a result of these matters, which are in excess of amounts already accrued in the Company’s condensed consolidated balance sheets, would not be material to the financial statements as a whole.

SHARE REPURCHASES

SHARE REPURCHASES	3 Months Ended
	Jul. 01, 2016
Treasury Stock, Number of Shares and Restriction Disclosures [Abstract]
SHARE REPURCHASES	SHARE REPURCHASES During the three-month period ended July 1, 2016 , the Company repurchased 7.3 million shares at an aggregate purchase price of $91.0 million , 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 July 1, 2016 , shares in the aggregate amount of $151.1 million were available to be repurchased under the current plan.

SEGMENT REPORTING

SEGMENT REPORTING	3 Months Ended
	Jul. 01, 2016
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING The Company has four reportable segments: HRS, CTG, IEI, and CEC. These segments are determined based on several factors, including the nature of products and services, the nature of production processes, customer base, delivery channels and similar economic characteristics. Refer to note 1 for a description of the various product categories manufactured under each of these segments. An operating segment's performance is evaluated based on its pre-tax operating contribution, or segment income. Segment income is defined as net sales less cost of sales, and segment selling, general and administrative expenses, and does not include amortization of intangibles, stock-based compensation, other charges (income), net and interest and other, net. Selected financial information by segment is as follows: Three-Month Periods Ended July 1, 2016 June 26, 2015 (In thousands) Net sales: Communications & Enterprise Compute $ 2,195,990 $ 1,966,562 Consumer Technology Group 1,313,782 1,564,964 Industrial & Emerging Industries 1,289,015 1,130,138 High Reliability Solutions 1,078,026 904,584 $ 5,876,813 $ 5,566,248 Segment income and reconciliation of income before tax: Communications & Enterprise Compute $ 61,899 $ 57,065 Consumer Technology Group 24,634 38,843 Industrial & Emerging Industries 49,977 28,999 High Reliability Solutions 88,536 59,886 Corporate and Other (34,800 ) (25,711 ) Total segment income 190,246 159,082 Reconciling items: Intangible amortization 21,598 7,671 Stock-based compensation 23,797 16,126 Other charges, net 3,529 164 Interest and other, net 24,399 16,505 Income before income taxes $ 116,923 $ 118,616 Corporate and other primarily includes corporate services costs that are not included in the Chief Operating Decision Maker's ("CODM") assessment of the performance of each of the identified reporting segments. Property and equipment on a segment basis is not disclosed as it is not separately identified and is not internally reported by segment to the Company's CODM.

SUPPLEMENTAL GUARANTOR AND NON-

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	3 Months Ended
	Jul. 01, 2016
SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS
SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS 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, provided that each rating agency confirms that the Notes will continue to be rated investment grade after the Note Guaranties are terminated. In lieu of providing separate financial statements for the guarantor subsidiaries, the Company has included the accompanying condensed consolidating financial statements, which are presented using the equity method of accounting. The principal elimination entries relate to investment in subsidiaries and intercompany balances and transactions, including transactions with the Company’s non-guarantor subsidiaries. Condensed Consolidating Balance Sheets as of July 1, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 431,588 $ 118,892 $ 1,128,855 $ — $ 1,679,335 Accounts receivable — 819,169 1,238,774 — 2,057,943 Inventories — 1,536,360 2,058,477 — 3,594,837 Inter company receivable 9,624,074 5,918,488 12,736,490 (28,279,052 ) — Other current assets 1,740 182,510 904,594 — 1,088,844 Total current assets 10,057,402 8,575,419 18,067,190 (28,279,052 ) 8,420,959 Property and equipment, net — 561,046 1,735,399 — 2,296,445 Goodwill and other intangible assets, net 100 60,173 1,264,341 — 1,324,614 Other assets 2,232,494 269,927 2,001,920 (4,037,835 ) 466,506 Investment in subsidiaries 2,675,293 3,174,268 18,214,271 (24,063,832 ) — Total assets $ 14,965,289 $ 12,640,833 $ 41,283,121 $ (56,380,719 ) $ 12,508,524 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Bank borrowings and current portion of long-term debt $ 58,836 $ 946 $ 6,238 $ — $ 66,020 Accounts payable — 1,477,964 2,839,607 — 4,317,571 Accrued payroll — 136,897 240,630 — 377,527 Inter company payable 9,557,901 8,546,945 10,174,206 (28,279,052 ) — Other current liabilities 26,524 809,796 1,030,265 — 1,866,585 Total current liabilities 9,643,261 10,972,548 14,290,946 (28,279,052 ) 6,627,703 Long term liabilities 2,698,621 2,059,725 2,493,716 (4,037,835 ) 3,214,227 Flextronics International Ltd. shareholders’ equity (deficit) 2,623,407 (391,440 ) 24,455,272 (24,063,832 ) 2,623,407 Noncontrolling interests — — 43,187 — 43,187 Total shareholders’ equity (deficit) 2,623,407 (391,440 ) 24,498,459 (24,063,832 ) 2,666,594 Total liabilities and shareholders’ equity $ 14,965,289 $ 12,640,833 $ 41,283,121 $ (56,380,719 ) $ 12,508,524 Condensed Consolidating Balance Sheets as of March 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 734,869 $ 148,201 $ 724,500 $ — $ 1,607,570 Accounts receivable — 729,331 1,315,426 — 2,044,757 Inventories — 1,482,410 2,009,246 — 3,491,656 Inter company receivable 9,105,728 5,568,392 12,404,722 (27,078,842 ) — Other current assets 2,951 180,842 987,350 — 1,171,143 Total current assets 9,843,548 8,109,176 17,441,244 (27,078,842 ) 8,315,126 Property and equipment, net — 553,072 1,704,561 — 2,257,633 Goodwill and other intangible assets, net 175 60,895 1,284,750 — 1,345,820 Other assets 2,249,145 267,034 2,004,437 (4,054,214 ) 466,402 Investment in subsidiaries 2,815,426 3,010,111 18,175,348 (24,000,885 ) — Total assets $ 14,908,294 $ 12,000,288 $ 40,610,340 $ (55,133,941 ) $ 12,384,981 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Bank borrowings and current portion of long-term debt $ 58,836 $ 946 $ 5,384 $ — $ 65,166 Accounts payable — 1,401,835 2,846,457 — 4,248,292 Accrued payroll — 114,509 239,038 — 353,547 Inter company payable 9,562,405 7,999,335 9,517,102 (27,078,842 ) — Other current liabilities 33,008 869,470 1,002,722 — 1,905,200 Total current liabilities 9,654,249 10,386,095 13,610,703 (27,078,842 ) 6,572,205 Long term liabilities 2,683,173 2,063,988 2,514,299 (4,054,214 ) 3,207,246 Flextronics International Ltd. shareholders’ equity (deficit) 2,570,872 (449,795 ) 24,450,680 (24,000,885 ) 2,570,872 Noncontrolling interests — — 34,658 — 34,658 Total shareholders’ equity (deficit) 2,570,872 (449,795 ) 24,485,338 (24,000,885 ) 2,605,530 Total liabilities and shareholders’ equity $ 14,908,294 $ 12,000,288 $ 40,610,340 $ (55,133,941 ) $ 12,384,981 Condensed Consolidating Statements of Operations for the Three -Month Period Ended July 1, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 3,830,352 $ 4,336,646 $ (2,290,185 ) $ 5,876,813 Cost of sales — 3,413,282 4,347,721 (2,290,185 ) 5,470,818 Gross profit (loss) — 417,070 (11,075 ) — 405,995 Selling, general and administrative expenses — 69,969 169,577 — 239,546 Intangible amortization 75 717 20,806 — 21,598 Interest and other, net (316,390 ) 416,317 (71,999 ) — 27,928 Income (loss) from continuing operations before income taxes 316,315 (69,933 ) (129,459 ) — 116,923 Provision for income taxes — 595 10,599 — 11,194 Equity in earnings in subsidiaries (210,586 ) (727 ) (22,105 ) 233,418 — Net income (loss) $ 105,729 $ (71,255 ) $ (162,163 ) $ 233,418 $ 105,729 Condensed Consolidating Statements of Operations for the Three -Month Period Ended June 26, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 4,046,385 $ 3,935,515 $ (2,415,652 ) $ 5,566,248 Cost of sales — 3,644,059 3,985,500 (2,415,652 ) 5,213,907 Gross profit (loss) — 402,326 (49,985 ) — 352,341 Selling, general and administrative expenses — 63,559 145,826 — 209,385 Intangible amortization 75 960 6,636 — 7,671 Interest and other, net (267,052 ) 336,992 (53,271 ) — 16,669 Income (loss) from continuing operations before income taxes 266,977 815 (149,176 ) — 118,616 Provision for (benefit from) income taxes — 9,099 (1,333 ) — 7,766 Equity in earnings in subsidiaries (156,127 ) (17,826 ) 37,047 136,906 — Net income (loss) $ 110,850 $ (26,110 ) $ (110,796 ) $ 136,906 $ 110,850 Condensed Consolidating Statements of Comprehensive Income (Loss) for the Three -Month Period Ended July 1, 2016 Parent Guarantor Non- Eliminations Consolidated (in thousands) Net income (loss) $ 105,729 $ (71,255 ) $ (162,163 ) $ 233,418 $ 105,729 Other comprehensive income: Foreign currency translation adjustments, net of zero tax 9,861 17,709 24,763 (42,472 ) 9,861 Unrealized gain on derivative instruments and other, net of zero tax 1,348 2,449 1,348 (3,797 ) 1,348 Comprehensive income (loss) $ 116,938 $ (51,097 ) $ (136,052 ) $ 187,149 $ 116,938 Condensed Consolidating Statements of Comprehensive Income (Loss) for the Three -Month Period Ended June 26, 2015 Parent Guarantor Non- Eliminations Consolidated (in thousands) Net income $ 110,850 $ (26,110 ) $ (110,796 ) $ 136,906 $ 110,850 Other comprehensive income (loss): Foreign currency translation adjustments, net of zero tax 2,783 (23,490 ) (20,897 ) 44,387 2,783 Unrealized gain on derivative instruments and other, net of zero tax 12,829 4,624 12,829 (17,453 ) 12,829 Comprehensive income (loss) $ 126,462 $ (44,976 ) $ (118,864 ) $ 163,840 $ 126,462 Condensed Consolidating Statements of Cash Flows for the Three-Month Period Ended July 1, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) Net cash provided by (used in) operating activities $ 300,435 $ (217,862 ) $ 181,392 $ (33 ) $ 263,932 Cash flows from investing activities: Purchases of property and equipment, net of proceeds from disposal — (39,399 ) (103,976 ) (6 ) (143,381 ) Acquisition of businesses, net of cash acquired — (8,888 ) (604 ) — (9,492 ) Proceeds from divesture of business, net of cash held in divested business — — 14,828 — 14,828 Investing cash flows to affiliates (481,875 ) (816,210 ) (653,366 ) 1,951,451 — Other investing activities, net 1 (1,260 ) 27,520 — 26,261 Net cash used in investing activities (481,874 ) (865,757 ) (715,598 ) 1,951,445 (111,784 ) Cash flows from financing activities: Proceeds from bank borrowings and long-term debt 74,972 — 46 — 75,018 Repayments of bank borrowings, long-term debt and capital lease obligations (90,000 ) (1,152 ) (1,070 ) (92,222 ) Payments for repurchases of ordinary shares (94,715 ) — — — (94,715 ) Net proceeds from issuance of ordinary shares 3,966 — — — 3,966 Financing cash flows (to) from affiliates (30,704 ) 1,056,584 925,532 (1,951,412 ) — Other financing activities, net 30,000 — (17,099 ) — 12,901 Net cash (used in) provided by financing activities (106,481 ) 1,055,432 907,409 (1,951,412 ) (95,052 ) Effect of exchange rates on cash and cash equivalents (15,361 ) (1,122 ) 31,152 — 14,669 Net increase (decrease) in cash and cash equivalents (303,281 ) (29,309 ) 404,355 — 71,765 Cash and cash equivalents, beginning of period 734,869 148,201 724,500 — 1,607,570 Cash and cash equivalents, end of period $ 431,588 $ 118,892 $ 1,128,855 $ — $ 1,679,335 Condensed Consolidating Statements of Cash Flows for the Three-Month Period Ended June 26, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) Net cash provided by (used in) operating activities $ 280,844 $ (4,684 ) $ 86,116 $ — $ 362,276 Cash flows from investing activities: Purchases of property and equipment, net of proceeds from disposal — (47,108 ) (89,728 ) — (136,836 ) Acquisition of businesses, net of cash acquired — (2,785 ) (15,795 ) — (18,580 ) Proceeds from divestiture of business, net of cash held in divested business — — 1,000 — 1,000 Investing cash flows to affiliates (720,048 ) (162,774 ) (1,176,220 ) 2,059,042 — Other investing activities, net — (14,787 ) 7,207 — (7,580 ) Net cash used in investing activities (720,048 ) (227,454 ) (1,273,536 ) 2,059,042 (161,996 ) Cash flows from financing activities: Proceeds from bank borrowings and long-term debt 595,309 221 18 — 595,548 Repayments of bank borrowings, long-term debt and capital lease obligations (6,604 ) (493 ) (1,360 ) — (8,457 ) Payments for repurchases of ordinary shares (99,995 ) — — — (99,995 ) Net proceeds from issuance of ordinary shares 44,602 — — — 44,602 Financing cash flows from affiliates 619,970 274,540 1,164,532 (2,059,042 ) — Other financing activities, net — — (25,252 ) — (25,252 ) Net cash provided by financing activities 1,153,282 274,268 1,137,938 (2,059,042 ) 506,446 Effect of exchange rates on cash and cash equivalents 24,362 (961 ) (27,124 ) — (3,723 ) Net increase (decrease) in cash and cash equivalents 738,440 41,169 (76,606 ) — 703,003 Cash and cash equivalents, beginning of period 608,971 168,272 851,165 — 1,628,408 Cash and cash equivalents, end of period $ 1,347,411 $ 209,441 $ 774,559 $ — $ 2,331,411

ORGANIZATION OF THE COMPANY A22

ORGANIZATION OF THE COMPANY AND BASIS OF PRESENTATION (Policies)	3 Months Ended
	Jul. 01, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP” or “GAAP”) for interim financial information and in accordance with the requirements of Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements, and should be read in conjunction with the Company’s audited consolidated financial statements as of and for the fiscal year ended March 31, 2016 contained in the Company’s Annual Report on Form 10-K. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three-month period ended July 1, 2016 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2017 . The first quarters for fiscal year 2017 and fiscal year 2016 ended on July 1, 2016 , which is comprised of 92 days in the period, and June 26, 2015 , which is comprised of 87 days in the period, respectively. The accompanying unaudited condensed consolidated financial statements include the accounts of Flex and its majority-owned subsidiaries, after elimination of intercompany accounts and transactions. The Company consolidates its majority-owned subsidiaries and investments in entities in which the Company has a controlling interest. For the consolidated majority-owned subsidiaries in which the Company owns less than 100%, the Company recognizes a noncontrolling interest for the ownership of the noncontrolling owners. Noncontrolling interests are presented as a separate component of total shareholders' equity in the condensed consolidated balance sheets. The associated noncontrolling owners' interests are immaterial for all of the periods presented, and are included in interest and other, net in the condensed consolidated statements of operations. The Company has certain non-majority-owned equity investments in non-publicly traded companies that are accounted for using the equity method of accounting. The equity method of accounting is used when the Company has the ability to significantly influence the operating decisions of the issuer, or if the Company has an ownership percentage of a corporation equal to or generally greater than 20% but less than 50%, and for non-majority-owned investments in partnerships when generally greater than 5%. The equity in earnings (losses) of equity method investees are immaterial for all of the periods presented, and are included in interest and other, net in the condensed consolidated statements of operations.
Recently Adopted and Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncement In March 2016, the Financial Accounting Standards Board ("FASB") issued new guidance intended to reduce the cost and complexity of the accounting for share-based payments. The new guidance simplifies various aspects of the accounting for share-based payments including income tax effects, withholding requirements and forfeitures. The Company elected to early adopt this new guidance during the three-month period ended July 1, 2016 . The guidance eliminates additional paid in capital ("APIC") pools and requires companies to recognize all excess tax benefits and tax deficiencies in the income statement when the awards vest or are settled. It also addresses the presentation of excess tax benefits and employee taxes paid on the statement of cash flows. Prior to adoption, the Company elected to not deduct tax benefits for stock-based compensation awards on its tax returns, and accordingly, did not have any excess tax benefits or tax deficiencies upon adoption. The Company therefore determined that adoption of the new guidance had no impact on the condensed consolidated statement of operations and the condensed consolidated statement of cash flows. Further, the new guidance eliminates the requirement to estimate forfeitures and reduce stock compensation expense during the vesting period. Instead, companies can elect to account for actual forfeitures as they occur and record any previously unrecognized compensation expense for estimated forfeitures up to the period of adoption as a retrospective adjustment to beginning retained earnings. The Company has made the election to account for actual forfeitures as they occur starting in fiscal year 2017. After assessment, it was determined that the cumulative effect adjustment required under the new guidance was immaterial and therefore the Company did not record a retrospective adjustment. The Company finally determined that the adoption of this guidance did not have a significant impact on the consolidated financial position, results of operations and cash flows of the Company.

BALANCE SHEET ITEMS (Tables)

BALANCE SHEET ITEMS (Tables)	3 Months Ended
	Jul. 01, 2016
Balance Sheet Related Disclosures [Abstract]
Schedule of components of inventories	The components of inventories, net of applicable lower of cost or market write-downs, were as follows: As of July 1, 2016 As of March 31, 2016 (In thousands) Raw materials $ 2,347,860 $ 2,234,512 Work-in-progress 493,056 561,282 Finished goods 753,921 695,862 $ 3,594,837 $ 3,491,656
Schedule of goodwill	The following table summarizes the activity in the Company’s goodwill account for each of its four segments during the three-month period ended July 1, 2016 : HRS CTG IEI CEC Amount (In thousands) Balance, beginning of the year $ 439,336 $ 68,234 $ 322,803 $ 111,693 $ 942,066 Additions (1) (2) (1,787 ) — 9,544 — 7,757 Purchase accounting adjustments (3) 794 — — — 794 Foreign currency translation adjustments (5,852 ) — — — (5,852 ) Balance, end of the period $ 432,491 $ 68,234 $ 332,347 $ 111,693 $ 944,765 (1) The goodwill generated from the Company’s business combination completed during the three-month period ended July 1, 2016 is primarily related to value placed on the acquired employee workforce, service offerings and capabilities of an acquired business. The goodwill is not deductible for income tax purposes. See note 10 for additional information. (2) During the three-month period ended July 1, 2016 , the Company disposed of a non-strategic business within the HRS segment, and recorded a reduction of goodwill of $1.8 million accordingly, which is included in the loss on sale in other expense on the condensed consolidated statement of operations. (3) Includes adjustments to estimates resulting from the finalization of management's review of the valuation of assets acquired and liabilities assumed through certain business combinations completed in a period subsequent to the respective acquisition. These adjustments were not individually, nor in the aggregate, significant to the Company.
Schedule of components of acquired intangible assets	The components of acquired intangible assets are as follows: As of July 1, 2016 As of March 31, 2016 Gross Accumulated Net Gross Accumulated Net (In thousands) Intangible assets: Customer-related intangibles $ 221,466 $ (77,693 ) $ 143,773 $ 223,046 $ (66,473 ) $ 156,573 Licenses and other intangibles 283,743 (47,667 ) 236,076 285,053 (37,872 ) 247,181 Total $ 505,209 $ (125,360 ) $ 379,849 $ 508,099 $ (104,345 ) $ 403,754
Schedule of estimated future annual amortization expense for intangible assets	The estimated future annual amortization expense for intangible assets is as follows: Fiscal Year Ending March 31, Amount (In thousands) 2017 (1) $ 55,390 2018 62,414 2019 55,825 2020 47,288 2021 43,025 Thereafter 115,907 Total amortization expense $ 379,849 ____________________________________________________________ (1) Represents estimated amortization for the remaining nine -month period ending March 31, 2017 .

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	3 Months Ended
	Jul. 01, 2016
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract]
Schedule of share-based compensation expense	The following table summarizes the Company’s share-based compensation expense: Three-Month Periods Ended July 1, 2016 June 26, 2015 (In thousands) Cost of sales $ 2,433 $ 2,018 Selling, general and administrative expenses 21,364 14,108 Total share-based compensation expense $ 23,797 $ 16,126

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Jul. 01, 2016
Earnings Per Share [Abstract]
Schedule of basic weighted-average ordinary shares outstanding and diluted weighted-average ordinary share equivalents used to calculate basic and diluted earnings per share	The following table reflects the basic weighted-average ordinary shares outstanding and diluted weighted-average ordinary share equivalents used to calculate basic and diluted earnings per share attributable to the shareholders of Flextronics International Ltd.: Three-Month Periods Ended July 1, 2016 June 26, 2015 (In thousands, except per share amounts) Net income $ 105,729 $ 110,850 Shares used in computation: Weighted-average ordinary shares outstanding 544,631 565,545 Basic earnings per share 0.19 0.20 Diluted earnings per share: Net income $ 105,729 $ 110,850 Shares used in computation: Weighted-average ordinary shares outstanding 544,631 565,545 Weighted-average ordinary share equivalents from stock options and awards (1) 6,398 12,452 Weighted-average ordinary shares and ordinary share equivalents outstanding 551,029 577,997 Diluted earnings per share 0.19 0.19 ____________________________________________________________ (1) Options to purchase ordinary shares of 1.0 million and 2.0 million during the three -month periods ended July 1, 2016 and June 26, 2015 , respectively, and share bonus awards of 0.8 million for the three-month period ended July 1, 2016 , were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted-average ordinary share equivalents. No anti-dilutive share bonus awards were excluded for the three-month period ended June 26, 2015 .

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Jul. 01, 2016
Derivative Instruments and Hedges, Assets [Abstract]
Summary of aggregate notional amount of the Company's outstanding foreign currency forward and swap contracts	As of July 1, 2016 , the aggregate notional amount of the Company’s outstanding foreign currency contracts was $4.1 billion as summarized below: Foreign Currency Amount Notional Contract Value in USD Currency Buy Sell Buy Sell (In thousands) Cash Flow Hedges CNY 912,000 — $ 137,283 $ — EUR 38,380 131,471 42,616 149,493 HUF 15,656,000 — 54,854 — ILS 101,600 — 26,359 — INR 1,200,326 — 17,300 — MXN 1,596,000 — 86,154 — MYR 184,000 10,000 45,590 2,478 RON 71,600 — 17,567 — Other N/A N/A 35,075 — 462,798 151,971 Other Foreign Currency Contracts BRL — 387,000 — 119,618 CHF 7,341 24,799 7,493 25,317 CNY 889,314 — 133,700 — DKK 198,100 157,200 29,573 23,468 EUR 827,266 1,019,015 919,695 1,133,079 GBP 33,926 59,056 46,021 80,247 HUF 44,240,000 40,598,000 155,005 142,244 ILS 128,800 124,420 33,416 32,280 INR 5,510,229 13,599 81,695 200 MXN 1,578,370 353,640 85,202 19,090 MYR 348,847 33,900 86,434 8,399 PLN 107,804 59,773 27,076 15,013 RON 102,172 85,811 25,068 21,054 SEK 450,235 817,956 53,085 96,704 Other N/A N/A 57,985 26,215 1,741,448 1,742,928 Total Notional Contract Value in USD $ 2,204,246 $ 1,894,899
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 July 1, March 31, Balance Sheet July 1, March 31, (In thousands) Derivatives designated as hedging instruments Foreign currency contracts Other current assets $ 6,645 $ 5,510 Other current liabilities $ 4,424 $ 2,446 Derivatives not designated as hedging instruments Foreign currency contracts Other current assets $ 10,744 $ 17,138 Other current liabilities $ 7,434 $ 18,645

ACCUMULATED OTHER COMPREHENSI27

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	3 Months Ended
	Jul. 01, 2016
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of changes in accumulated other comprehensive loss by component, net of tax	The changes in accumulated other comprehensive loss by component, net of tax, are as follows: Three-Month Periods Ended July 1, 2016 June 26, 2015 Unrealized gain Foreign currency Total Unrealized gain Foreign currency Total (In thousands) Beginning balance $ (41,522 ) $ (94,393 ) $ (135,915 ) $ (68,266 ) $ (112,239 ) $ (180,505 ) Other comprehensive gain (loss) before reclassifications 1,493 10,086 11,579 (601 ) 2,631 2,030 Net (gains) losses reclassified from accumulated other comprehensive loss (145 ) (225 ) (370 ) 13,430 152 13,582 Net current-period other comprehensive gain 1,348 9,861 11,209 12,829 2,783 15,612 Ending balance $ (40,174 ) $ (84,532 ) $ (124,706 ) $ (55,437 ) $ (109,456 ) $ (164,893 )

TRADE RECEIVABLES SECURITIZAT28

TRADE RECEIVABLES SECURITIZATION (Tables)	3 Months Ended
	Jul. 01, 2016
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Summary of deferred purchase price receivables	The following table summarizes the activity in the deferred purchase price receivables account: Three-Month Periods Ended July 1, 2016 June 26, 2015 (In thousands) Beginning balance $ 501,097 $ 600,672 Transfers of receivables 762,184 767,048 Collections (802,947 ) (851,433 ) Ending balance $ 460,334 $ 516,287

FAIR VALUE MEASUREMENT OF ASS29

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables)	3 Months Ended
	Jul. 01, 2016
Fair Value Disclosures [Abstract]
Schedule of business acquisitions by acquisition, contingent consideration	The following table summarizes the activities related to contingent consideration: Three-Month Periods Ended July 1, June 26, (In thousands) Beginning balance $ 73,423 $ 4,500 Additions to accrual — — Payments — — Fair value adjustments 1,835 — Ending balance $ 75,258 $ 4,500
Schedule of financial assets and liabilities measured at fair value on a recurring basis	The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis: Fair Value Measurements as of July 1, 2016 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet) $ — $ 896,031 $ — $ 896,031 Deferred purchase price receivable (Note 8) — — 460,334 460,334 Foreign exchange contracts (Note 6) — 17,389 — 17,389 Deferred compensation plan assets: 0 Mutual funds, money market accounts and equity securities 8,504 41,455 — 49,959 Liabilities: 0 Foreign exchange contracts (Note 6) $ — $ (11,858 ) $ — $ (11,858 ) Contingent consideration in connection with business acquisitions — — (75,258 ) (75,258 ) Fair Value Measurements as of March 31, 2016 Level 1 Level 2 Level 3 Total (In thousands) Assets: Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet) $ — $ 1,074,132 $ — $ 1,074,132 Deferred purchase price receivable (Note 8) — — 501,097 501,097 Foreign exchange contracts (Note 6) — 22,648 — 22,648 Deferred compensation plan assets: 0 Mutual funds, money market accounts and equity securities 9,228 40,556 — 49,784 Liabilities: 0 Foreign exchange contracts (Note 6) $ — $ (21,091 ) $ — $ (21,091 ) Contingent consideration in connection with business acquisitions — — (73,423 ) (73,423 )
Schedule of debt not carried at fair value	The following table presents the Company’s debt not carried at fair value: As of July 1, 2016 As of March 31, 2016 Carrying Fair Carrying Fair Fair Value (In thousands) Term Loan, including current portion, due in installments through August 2018 $ 573,750 $ 567,295 $ 577,500 $ 573,533 Level 1 Term Loan, including current portion, due in installments through March 2019 536,250 527,536 547,500 542,709 Level 1 4.625% Notes due February 2020 500,000 523,650 500,000 524,735 Level 1 5.000% Notes due February 2023 500,000 524,296 500,000 507,500 Level 1 4.750% Notes due June 2025 595,684 613,950 595,589 604,926 Level 1 Total $ 2,705,684 $ 2,756,727 $ 2,720,589 $ 2,753,403

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	3 Months Ended
	Jul. 01, 2016
Segment Reporting [Abstract]
Schedule of segment reporting information by operating segment	Selected financial information by segment is as follows: Three-Month Periods Ended July 1, 2016 June 26, 2015 (In thousands) Net sales: Communications & Enterprise Compute $ 2,195,990 $ 1,966,562 Consumer Technology Group 1,313,782 1,564,964 Industrial & Emerging Industries 1,289,015 1,130,138 High Reliability Solutions 1,078,026 904,584 $ 5,876,813 $ 5,566,248 Segment income and reconciliation of income before tax: Communications & Enterprise Compute $ 61,899 $ 57,065 Consumer Technology Group 24,634 38,843 Industrial & Emerging Industries 49,977 28,999 High Reliability Solutions 88,536 59,886 Corporate and Other (34,800 ) (25,711 ) Total segment income 190,246 159,082 Reconciling items: Intangible amortization 21,598 7,671 Stock-based compensation 23,797 16,126 Other charges, net 3,529 164 Interest and other, net 24,399 16,505 Income before income taxes $ 116,923 $ 118,616

SUPPLEMENTAL GUARANTOR AND NO31

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)	3 Months Ended
	Jul. 01, 2016
SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS
Schedule of condensed consolidating balance sheets	Condensed Consolidating Balance Sheets as of July 1, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 431,588 $ 118,892 $ 1,128,855 $ — $ 1,679,335 Accounts receivable — 819,169 1,238,774 — 2,057,943 Inventories — 1,536,360 2,058,477 — 3,594,837 Inter company receivable 9,624,074 5,918,488 12,736,490 (28,279,052 ) — Other current assets 1,740 182,510 904,594 — 1,088,844 Total current assets 10,057,402 8,575,419 18,067,190 (28,279,052 ) 8,420,959 Property and equipment, net — 561,046 1,735,399 — 2,296,445 Goodwill and other intangible assets, net 100 60,173 1,264,341 — 1,324,614 Other assets 2,232,494 269,927 2,001,920 (4,037,835 ) 466,506 Investment in subsidiaries 2,675,293 3,174,268 18,214,271 (24,063,832 ) — Total assets $ 14,965,289 $ 12,640,833 $ 41,283,121 $ (56,380,719 ) $ 12,508,524 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Bank borrowings and current portion of long-term debt $ 58,836 $ 946 $ 6,238 $ — $ 66,020 Accounts payable — 1,477,964 2,839,607 — 4,317,571 Accrued payroll — 136,897 240,630 — 377,527 Inter company payable 9,557,901 8,546,945 10,174,206 (28,279,052 ) — Other current liabilities 26,524 809,796 1,030,265 — 1,866,585 Total current liabilities 9,643,261 10,972,548 14,290,946 (28,279,052 ) 6,627,703 Long term liabilities 2,698,621 2,059,725 2,493,716 (4,037,835 ) 3,214,227 Flextronics International Ltd. shareholders’ equity (deficit) 2,623,407 (391,440 ) 24,455,272 (24,063,832 ) 2,623,407 Noncontrolling interests — — 43,187 — 43,187 Total shareholders’ equity (deficit) 2,623,407 (391,440 ) 24,498,459 (24,063,832 ) 2,666,594 Total liabilities and shareholders’ equity $ 14,965,289 $ 12,640,833 $ 41,283,121 $ (56,380,719 ) $ 12,508,524 Condensed Consolidating Balance Sheets as of March 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 734,869 $ 148,201 $ 724,500 $ — $ 1,607,570 Accounts receivable — 729,331 1,315,426 — 2,044,757 Inventories — 1,482,410 2,009,246 — 3,491,656 Inter company receivable 9,105,728 5,568,392 12,404,722 (27,078,842 ) — Other current assets 2,951 180,842 987,350 — 1,171,143 Total current assets 9,843,548 8,109,176 17,441,244 (27,078,842 ) 8,315,126 Property and equipment, net — 553,072 1,704,561 — 2,257,633 Goodwill and other intangible assets, net 175 60,895 1,284,750 — 1,345,820 Other assets 2,249,145 267,034 2,004,437 (4,054,214 ) 466,402 Investment in subsidiaries 2,815,426 3,010,111 18,175,348 (24,000,885 ) — Total assets $ 14,908,294 $ 12,000,288 $ 40,610,340 $ (55,133,941 ) $ 12,384,981 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Bank borrowings and current portion of long-term debt $ 58,836 $ 946 $ 5,384 $ — $ 65,166 Accounts payable — 1,401,835 2,846,457 — 4,248,292 Accrued payroll — 114,509 239,038 — 353,547 Inter company payable 9,562,405 7,999,335 9,517,102 (27,078,842 ) — Other current liabilities 33,008 869,470 1,002,722 — 1,905,200 Total current liabilities 9,654,249 10,386,095 13,610,703 (27,078,842 ) 6,572,205 Long term liabilities 2,683,173 2,063,988 2,514,299 (4,054,214 ) 3,207,246 Flextronics International Ltd. shareholders’ equity (deficit) 2,570,872 (449,795 ) 24,450,680 (24,000,885 ) 2,570,872 Noncontrolling interests — — 34,658 — 34,658 Total shareholders’ equity (deficit) 2,570,872 (449,795 ) 24,485,338 (24,000,885 ) 2,605,530 Total liabilities and shareholders’ equity $ 14,908,294 $ 12,000,288 $ 40,610,340 $ (55,133,941 ) $ 12,384,981
Schedule of condensed consolidating statements of operations	Condensed Consolidating Statements of Operations for the Three -Month Period Ended July 1, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 3,830,352 $ 4,336,646 $ (2,290,185 ) $ 5,876,813 Cost of sales — 3,413,282 4,347,721 (2,290,185 ) 5,470,818 Gross profit (loss) — 417,070 (11,075 ) — 405,995 Selling, general and administrative expenses — 69,969 169,577 — 239,546 Intangible amortization 75 717 20,806 — 21,598 Interest and other, net (316,390 ) 416,317 (71,999 ) — 27,928 Income (loss) from continuing operations before income taxes 316,315 (69,933 ) (129,459 ) — 116,923 Provision for income taxes — 595 10,599 — 11,194 Equity in earnings in subsidiaries (210,586 ) (727 ) (22,105 ) 233,418 — Net income (loss) $ 105,729 $ (71,255 ) $ (162,163 ) $ 233,418 $ 105,729 Condensed Consolidating Statements of Operations for the Three -Month Period Ended June 26, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (in thousands) Net sales $ — $ 4,046,385 $ 3,935,515 $ (2,415,652 ) $ 5,566,248 Cost of sales — 3,644,059 3,985,500 (2,415,652 ) 5,213,907 Gross profit (loss) — 402,326 (49,985 ) — 352,341 Selling, general and administrative expenses — 63,559 145,826 — 209,385 Intangible amortization 75 960 6,636 — 7,671 Interest and other, net (267,052 ) 336,992 (53,271 ) — 16,669 Income (loss) from continuing operations before income taxes 266,977 815 (149,176 ) — 118,616 Provision for (benefit from) income taxes — 9,099 (1,333 ) — 7,766 Equity in earnings in subsidiaries (156,127 ) (17,826 ) 37,047 136,906 — Net income (loss) $ 110,850 $ (26,110 ) $ (110,796 ) $ 136,906 $ 110,850
Schedule of condensed consolidating statements of comprehensive income (loss)	Condensed Consolidating Statements of Comprehensive Income (Loss) for the Three -Month Period Ended July 1, 2016 Parent Guarantor Non- Eliminations Consolidated (in thousands) Net income (loss) $ 105,729 $ (71,255 ) $ (162,163 ) $ 233,418 $ 105,729 Other comprehensive income: Foreign currency translation adjustments, net of zero tax 9,861 17,709 24,763 (42,472 ) 9,861 Unrealized gain on derivative instruments and other, net of zero tax 1,348 2,449 1,348 (3,797 ) 1,348 Comprehensive income (loss) $ 116,938 $ (51,097 ) $ (136,052 ) $ 187,149 $ 116,938 Condensed Consolidating Statements of Comprehensive Income (Loss) for the Three -Month Period Ended June 26, 2015 Parent Guarantor Non- Eliminations Consolidated (in thousands) Net income $ 110,850 $ (26,110 ) $ (110,796 ) $ 136,906 $ 110,850 Other comprehensive income (loss): Foreign currency translation adjustments, net of zero tax 2,783 (23,490 ) (20,897 ) 44,387 2,783 Unrealized gain on derivative instruments and other, net of zero tax 12,829 4,624 12,829 (17,453 ) 12,829 Comprehensive income (loss) $ 126,462 $ (44,976 ) $ (118,864 ) $ 163,840 $ 126,462
Schedule of condensed consolidating statements of cash flows	Condensed Consolidating Statements of Cash Flows for the Three-Month Period Ended July 1, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) Net cash provided by (used in) operating activities $ 300,435 $ (217,862 ) $ 181,392 $ (33 ) $ 263,932 Cash flows from investing activities: Purchases of property and equipment, net of proceeds from disposal — (39,399 ) (103,976 ) (6 ) (143,381 ) Acquisition of businesses, net of cash acquired — (8,888 ) (604 ) — (9,492 ) Proceeds from divesture of business, net of cash held in divested business — — 14,828 — 14,828 Investing cash flows to affiliates (481,875 ) (816,210 ) (653,366 ) 1,951,451 — Other investing activities, net 1 (1,260 ) 27,520 — 26,261 Net cash used in investing activities (481,874 ) (865,757 ) (715,598 ) 1,951,445 (111,784 ) Cash flows from financing activities: Proceeds from bank borrowings and long-term debt 74,972 — 46 — 75,018 Repayments of bank borrowings, long-term debt and capital lease obligations (90,000 ) (1,152 ) (1,070 ) (92,222 ) Payments for repurchases of ordinary shares (94,715 ) — — — (94,715 ) Net proceeds from issuance of ordinary shares 3,966 — — — 3,966 Financing cash flows (to) from affiliates (30,704 ) 1,056,584 925,532 (1,951,412 ) — Other financing activities, net 30,000 — (17,099 ) — 12,901 Net cash (used in) provided by financing activities (106,481 ) 1,055,432 907,409 (1,951,412 ) (95,052 ) Effect of exchange rates on cash and cash equivalents (15,361 ) (1,122 ) 31,152 — 14,669 Net increase (decrease) in cash and cash equivalents (303,281 ) (29,309 ) 404,355 — 71,765 Cash and cash equivalents, beginning of period 734,869 148,201 724,500 — 1,607,570 Cash and cash equivalents, end of period $ 431,588 $ 118,892 $ 1,128,855 $ — $ 1,679,335 Condensed Consolidating Statements of Cash Flows for the Three-Month Period Ended June 26, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) Net cash provided by (used in) operating activities $ 280,844 $ (4,684 ) $ 86,116 $ — $ 362,276 Cash flows from investing activities: Purchases of property and equipment, net of proceeds from disposal — (47,108 ) (89,728 ) — (136,836 ) Acquisition of businesses, net of cash acquired — (2,785 ) (15,795 ) — (18,580 ) Proceeds from divestiture of business, net of cash held in divested business — — 1,000 — 1,000 Investing cash flows to affiliates (720,048 ) (162,774 ) (1,176,220 ) 2,059,042 — Other investing activities, net — (14,787 ) 7,207 — (7,580 ) Net cash used in investing activities (720,048 ) (227,454 ) (1,273,536 ) 2,059,042 (161,996 ) Cash flows from financing activities: Proceeds from bank borrowings and long-term debt 595,309 221 18 — 595,548 Repayments of bank borrowings, long-term debt and capital lease obligations (6,604 ) (493 ) (1,360 ) — (8,457 ) Payments for repurchases of ordinary shares (99,995 ) — — — (99,995 ) Net proceeds from issuance of ordinary shares 44,602 — — — 44,602 Financing cash flows from affiliates 619,970 274,540 1,164,532 (2,059,042 ) — Other financing activities, net — — (25,252 ) — (25,252 ) Net cash provided by financing activities 1,153,282 274,268 1,137,938 (2,059,042 ) 506,446 Effect of exchange rates on cash and cash equivalents 24,362 (961 ) (27,124 ) — (3,723 ) Net increase (decrease) in cash and cash equivalents 738,440 41,169 (76,606 ) — 703,003 Cash and cash equivalents, beginning of period 608,971 168,272 851,165 — 1,628,408 Cash and cash equivalents, end of period $ 1,347,411 $ 209,441 $ 774,559 $ — $ 2,331,411

ORGANIZATION OF THE COMPANY A32

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

BALANCE SHEET ITEMS - Component

BALANCE SHEET ITEMS - Components of Inventory (Details) - USD ($) $ in Thousands	Jul. 01, 2016	Mar. 31, 2016
Inventories
Raw materials	$ 2,347,860	$ 2,234,512
Work-in-progress	493,056	561,282
Finished goods	753,921	695,862
Inventories, total	$ 3,594,837	$ 3,491,656

BALANCE SHEET ITEMS - Goodwill

BALANCE SHEET ITEMS - Goodwill and Intangible Assets (Details) $ in Thousands	3 Months Ended
	Jul. 01, 2016USD ($)segment	Mar. 31, 2016USD ($)
Goodwill [Line Items]
Number of operating segments | segment	4
Activity in goodwill account
Balance, beginning of the year	$ 942,066
Additions	7,757
Purchase accounting adjustments	794
Foreign currency translation adjustments	(5,852)
Balance, end of the period	944,765
Intangible assets, net (excluding goodwill)
Gross carrying amount	505,209	$ 508,099
Accumulated Amortization	(125,360)	(104,345)
Net Carrying Amount	379,849	403,754
Customer-related intangibles
Intangible assets, net (excluding goodwill)
Gross carrying amount	221,466	223,046
Accumulated Amortization	(77,693)	(66,473)
Net Carrying Amount	143,773	156,573
Licenses and other intangibles
Intangible assets, net (excluding goodwill)
Gross carrying amount	283,743	285,053
Accumulated Amortization	(47,667)	(37,872)
Net Carrying Amount	236,076	$ 247,181
Operating Segments | High Reliability Solutions (HRS)
Activity in goodwill account
Balance, beginning of the year	439,336
Additions	(1,787)
Purchase accounting adjustments	794
Foreign currency translation adjustments	(5,852)
Balance, end of the period	432,491
Goodwill, written off related to sale of business Unit	1,800
Operating Segments | Consumer Technology Group (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
Operating Segments | Industrial & Emerging Industries (IEI)
Activity in goodwill account
Balance, beginning of the year	322,803
Additions	9,544
Purchase accounting adjustments	0
Foreign currency translation adjustments	0
Balance, end of the period	332,347
Operating Segments | Communications & Enterprise Compute (CEC)
Activity in goodwill account
Balance, beginning of the year	111,693
Additions	0
Purchase accounting adjustments	0
Foreign currency translation adjustments	0
Balance, end of the period	$ 111,693

BALANCE SHEET ITEMS - Future Am

BALANCE SHEET ITEMS - Future Amortization and Other Current Assets and Liabilities (Details) - USD ($) $ in Thousands	Jul. 01, 2016	Mar. 31, 2016	Jun. 26, 2015	Mar. 31, 2015
Estimated future annual amortization expense for acquired intangible assets
2,017	$ 55,390
2,018	62,414
2,019	55,825
2,020	47,288
2,021	43,025
Thereafter	115,907
Net Carrying Amount	379,849	$ 403,754
Other current assets related to purchase of assets on behalf of customer financed by a third party banking institution	83,800	83,600
Customer working capital advances	219,300	253,700
Customer related accruals	498,500	479,500
Deferred revenue	330,000	332,300
Other current liability for purchase of assets on behalf of customer financed by a third party banking institution	96,900	122,000
Asset-Backed Securitization Programs
Estimated future annual amortization expense for acquired intangible assets
Transferor's interests in transferred financial assets, fair value	$ 460,334	$ 501,097	$ 516,287	$ 600,672

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 01, 2016	Jun. 26, 2015
Share-based compensation
Share-based compensation expense	$ 23,797	$ 16,126
Cost of sales
Share-based compensation
Share-based compensation expense	2,433	2,018
Selling, general and administrative expenses
Share-based compensation
Share-based compensation expense	$ 21,364	$ 14,108

SHARE-BASED COMPENSATION - Nar

SHARE-BASED COMPENSATION - Narrative (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Jul. 01, 2016USD ($)$ / sharesshares
Share options
Share-based compensation
Weighted average exercise price of exercisable shares (in dollars per share) | $ / shares	$ 0
Options exercisable (shares)	0
2010 Equity Incentive Plan | Share options
Share-based compensation
Share options outstanding (shares)	1,200,000
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 8.49
Weighted average exercise price of exercisable shares (in dollars per share) | $ / shares	$ 8.49
2010 Equity Incentive Plan | Restricted Stock Units, Share Bonus Awards with Market Conditions, and Share Bonus Awards With Free Cash Flow Targets
Share-based compensation
Unvested share bonus awards granted (shares)	5,600,000
Number of shares outstanding (shares)	16,400,000
Unrecognized compensation expense | $	$ 177.4
Share weighted-average remaining vesting period	2 years 11 months 16 days
2010 Equity Incentive Plan | Restricted Stock Units
Share-based compensation
Unvested share bonus awards granted (shares)	4,700,000
Average grant date price of unvested share bonus awards (in dollars per share) | $ / shares	$ 12.80
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions
Share-based compensation
Number of shares outstanding (shares)	2,300,000
Unrecognized compensation expense | $	$ 30.1
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Fiscal 2013
Share-based compensation
Shares vested (shares)	3,500,000
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Minimum
Share-based compensation
Number of shares that may be issued (shares)	0
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Maximum
Share-based compensation
Number of shares that may be issued (shares)	4,600,000
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Key employees
Share-based compensation
Unvested share bonus awards granted (shares)	700,000
Average grant date price of unvested share bonus awards (in dollars per share) | $ / shares	$ 17.57
Vesting period	3 years
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Key employees | Minimum
Share-based compensation
Unvested share bonus awards granted (shares)	0
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Key employees | Maximum
Share-based compensation
Unvested share bonus awards granted (shares)	1,400,000
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Certain executive officers
Share-based compensation
Measurement period	3 years
Vesting period	3 years
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Certain executive officers | Minimum
Share-based compensation
Unvested share bonus awards granted (shares)	0
2010 Equity Incentive Plan | Share Bonus Awards with Market Conditions | Certain executive officers | Maximum
Share-based compensation
Unvested share bonus awards granted (shares)	400,000
2010 Equity Incentive Plan | Share Bonus Awards With Free Cash Flow Targets | Certain executive officers
Share-based compensation
Unvested share bonus awards granted (shares)	200,000
Nonvested average grant date price (in dollars per share) | $ / shares	$ 12.82
2014 NEXTracker Equity Incentive Plan
Share-based compensation
Unvested share bonus awards granted (shares)	0
Number of shares outstanding (shares)	2,300,000
Unrecognized compensation expense | $	$ 16.5
Share weighted-average remaining vesting period	2 years 1 month 18 days
2014 NEXTracker Equity Incentive Plan | Share options
Share-based compensation
Share options outstanding (shares)	2,400,000
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 3.79
Weighted average exercise price of exercisable shares (in dollars per share) | $ / shares	$ 5.35
Compensation not yet recognized | $	$ 14
Share weighted-average remaining vesting period	2 years 6 months 26 days
Options exercisable (shares)	300,000
BrightBox Equity Incentive Plan | Share options
Share-based compensation
Share options outstanding (shares)	200,000
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 0.51
Compensation not yet recognized | $	$ 1.8
Share weighted-average remaining vesting period	2 years 10 months 17 days
Options granted in period (shares)	200,000
Options granted, weighted average exercise price (in dollars per share) | $ / shares	$ 11.99
Options exercisable (shares)	0
Vesting period	3 years

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jul. 01, 2016	Jun. 26, 2015
Basic earnings per share:
Net income	$ 105,729	$ 110,850
Shares used in computation:
Weighted-average ordinary shares outstanding (shares)	544,631	565,545
Basic earnings per share (in dollars per share)	$ 0.19	$ 0.20
Diluted earnings per share:
Net income	$ 105,729	$ 110,850
Shares used in computation:
Weighted-average ordinary shares outstanding (shares)	544,631	565,545
Weighted-average ordinary share equivalents from stock options and awards (shares)	6,398	12,452
Weighted-average ordinary shares and ordinary share equivalents outstanding (shares)	551,029	577,997
Diluted earnings per share (in dollars per share)	$ 0.19	$ 0.19

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares	3 Months Ended
	Jul. 01, 2016	Jun. 26, 2015
Options
Anti-diluted securities excluded from the computation of diluted earnings per share
Ordinary shares excluded from the computation of diluted earnings per share (shares)	1,000,000	2,000,000
Restricted Stock Units
Anti-diluted securities excluded from the computation of diluted earnings per share
Ordinary shares excluded from the computation of diluted earnings per share (shares)	800,000	0

INTEREST AND OTHER, NET (Detail

INTEREST AND OTHER, NET (Details) - USD ($) $ in Millions	3 Months Ended
	Jul. 01, 2016	Jun. 26, 2015
Other Nonoperating Income (Expense) [Abstract]
Interest expense	$ 26.9	$ 20.1

FINANCIAL INSTRUMENTS - Foreig

FINANCIAL INSTRUMENTS - Foreign Currency Contracts (Details) - Jul. 01, 2016 - Forward and Swap Contracts € in Thousands, ₪ in Thousands, ¥ in Thousands, ¥ in Thousands, £ 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

ILS (₪)

CHF (SFr)

MYR

BRL

HUF

CAD

EUR (€)

USD ($)

GBP (£)

SEK

JPY (¥)

MXN

CNY (¥)

DKK

Notional amount

Notional Contract Value

$ 4,100,000

Buy

Notional amount

Notional Contract Value

2,204,246

Sell

Notional amount

Notional Contract Value

1,894,899

Derivatives designated as hedging instruments | Cash Flow Hedges | Buy

Notional amount

Notional Contract Value

462,798

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

Notional amount

Notional Contract Value

137,283

¥ 912,000

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

Notional amount

Notional Contract Value

42,616

38,380

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

Notional amount

Notional Contract Value

HUF 15,656,000

54,854

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

Notional amount

Notional Contract Value

₪ 101,600

26,359

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

Notional amount

Notional Contract Value

1,200,326

17,300

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

Notional amount

Notional Contract Value

86,154

MXN 1,596,000

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

Notional amount

Notional Contract Value

MYR 184,000

45,590

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

Notional amount

Notional Contract Value

71,600

17,567

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

Notional amount

Notional Contract Value

35,075

Derivatives designated as hedging instruments | Cash Flow Hedges | Sell

Notional amount

Notional Contract Value

151,971

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

149,493

131,471

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 | INR

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

10,000

2,478

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

Notional amount

Notional Contract Value

0

0

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

Notional amount

Notional Contract Value

0

Economic hedges | Buy

Notional amount

Notional Contract Value

1,741,448

Economic hedges | Buy | BRL

Notional amount

Notional Contract Value

BRL 0

0

Economic hedges | Buy | CHF

Notional amount

Notional Contract Value

CAD 7,341

7,493

Economic hedges | Buy | CNY

Notional amount

Notional Contract Value

SFr 889,314

133,700

Economic hedges | Buy | DKK

Notional amount

Notional Contract Value

29,573

198,100

Economic hedges | Buy | EUR

Notional amount

Notional Contract Value

919,695

DKK 827,266

Economic hedges | Buy | GBP

Notional amount

Notional Contract Value

€ 33,926

46,021

Economic hedges | Buy | HUF

Notional amount

Notional Contract Value

155,005

£ 44,240,000

Economic hedges | Buy | ILS

Notional amount

Notional Contract Value

33,416

128,800

Economic hedges | Buy | INR

Notional amount

Notional Contract Value

5,510,229

81,695

Economic hedges | Buy | MXN

Notional amount

Notional Contract Value

1,578,370

85,202

Economic hedges | Buy | MYR

Notional amount

Notional Contract Value

86,434

¥ 348,847

Economic hedges | Buy | RON

Notional amount

Notional Contract Value

102,172

25,068

Economic hedges | Buy | PLN

Notional amount

Notional Contract Value

27,076

107,804

Economic hedges | Buy | SEK

Notional amount

Notional Contract Value

53,085

SEK 450,235

Economic hedges | Buy | Other

Notional amount

Notional Contract Value

57,985

Economic hedges | Sell

Notional amount

Notional Contract Value

1,742,928

Economic hedges | Sell | BRL

Notional amount

Notional Contract Value

BRL 387,000

119,618

Economic hedges | Sell | CHF

Notional amount

Notional Contract Value

CAD 24,799

25,317

Economic hedges | Sell | CNY

Notional amount

Notional Contract Value

SFr 0

0

Economic hedges | Sell | DKK

Notional amount

Notional Contract Value

23,468

¥ 157,200

Economic hedges | Sell | EUR

Notional amount

Notional Contract Value

1,133,079

DKK 1,019,015

Economic hedges | Sell | GBP

Notional amount

Notional Contract Value

€ 59,056

80,247

Economic hedges | Sell | HUF

Notional amount

Notional Contract Value

142,244

40,598,000

Economic hedges | Sell | ILS

Notional amount

Notional Contract Value

32,280

£ 124,420

Economic hedges | Sell | INR

Notional amount

Notional Contract Value

HUF 13,599

200

Economic hedges | Sell | MXN

Notional amount

Notional Contract Value

₪ 353,640

19,090

Economic hedges | Sell | MYR

Notional amount

Notional Contract Value

8,399

¥ 33,900

Economic hedges | Sell | RON

Notional amount

Notional Contract Value

MYR 85,811

21,054

Economic hedges | Sell | PLN

Notional amount

Notional Contract Value

15,013

MXN 59,773

Economic hedges | Sell | SEK

Notional amount

Notional Contract Value

96,704

SEK 817,956

Economic hedges | Sell | Other

Notional amount

Notional Contract Value

$ 26,215

FINANCIAL INSTRUMENTS - Deriva

FINANCIAL INSTRUMENTS - Derivatives (Details) - USD ($) $ in Thousands	Jul. 01, 2016	Mar. 31, 2016
Fair Values of Derivative Instruments
Deferred losses in AOCI	$ 1,600
Foreign currency contracts | Other current assets | Derivatives designated as hedging instruments
Fair Values of Derivative Instruments
Asset Derivatives	6,645	$ 5,510
Foreign currency contracts | Other current assets | Economic hedges
Fair Values of Derivative Instruments
Asset Derivatives	10,744	17,138
Foreign currency contracts | Other current liabilities | Derivatives designated as hedging instruments
Fair Values of Derivative Instruments
Liability Derivatives	4,424	2,446
Foreign currency contracts | Other current liabilities | Economic hedges
Fair Values of Derivative Instruments
Liability Derivatives	$ 7,434	$ 18,645

ACCUMULATED OTHER COMPREHENSI43

ACCUMULATED OTHER COMPREHENSIVE LOSS - Changes by component (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 01, 2016	Jun. 26, 2015
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 2,570,872
Ending balance	2,623,407
Unrealized gain (loss) on derivative instruments and other
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(41,522)	$ (68,266)
Other comprehensive gain (loss) before reclassifications	1,493	(601)
Net (gains) losses reclassified from accumulated other comprehensive loss	(145)	13,430
Net current-period other comprehensive gain (loss)	1,348	12,829
Ending balance	(40,174)	(55,437)
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(94,393)	(112,239)
Other comprehensive gain (loss) before reclassifications	10,086	2,631
Net (gains) losses reclassified from accumulated other comprehensive loss	(225)	152
Net current-period other comprehensive gain (loss)	9,861	2,783
Ending balance	(84,532)	(109,456)
AOCI Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(135,915)	(180,505)
Other comprehensive gain (loss) before reclassifications	11,579	2,030
Net (gains) losses reclassified from accumulated other comprehensive loss	(370)	13,582
Net current-period other comprehensive gain (loss)	11,209	15,612
Ending balance	$ (124,706)	$ (164,893)

ACCUMULATED OTHER COMPREHENSI44

ACCUMULATED OTHER COMPREHENSIVE LOSS - Narrative (Details) $ in Millions	3 Months Ended
	Jul. 01, 2016USD ($)
Unrealized gain (loss) on derivative instruments and other | Reclassification out of accumulated other comprehensive income
Reclassification
Cost of sales	$ 0.6

TRADE RECEIVABLES SECURITIZAT45

TRADE RECEIVABLES SECURITIZATION (Details)	3 Months Ended
	Jul. 01, 2016USD ($)program	Jun. 26, 2015USD ($)	Mar. 31, 2016USD ($)
Trade Receivables Securitization disclosures
Servicing assets	$ 0	$ 0
Servicing liability	$ 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	$ 1,300,000,000		$ 1,400,000,000
Amount received from accounts receivable sold to third-party	885,000,000		880,800,000
Cash proceeds from sale of accounts receivable	1,400,000,000	1,100,000,000
Cash flows from new transfers of receivables	59,500,000	162,700,000
Activity in the deferred purchase price receivables account
Beginning balance	501,097,000	600,672,000
Transfers of receivables	762,184,000	767,048,000
Collections	(802,947,000)	(851,433,000)
Ending balance	$ 460,334,000	516,287,000
Asset-Backed Securitization Programs | Minimum
Trade Receivables Securitization disclosures
Service fee received, percent	0.10%
Asset-Backed Securitization Programs | Maximum
Trade Receivables Securitization disclosures
Service fee received, percent	0.50%
Global Program
Trade Receivables Securitization disclosures
Investment limits with financial institution	$ 700,000,000
Global Program | Committed
Trade Receivables Securitization disclosures
Investment limits with financial institution	600,000,000
Global Program | Uncommitted
Trade Receivables Securitization disclosures
Investment limits with financial institution	100,000,000
North American Program
Trade Receivables Securitization disclosures
Investment limits with financial institution	265,000,000
North American Program | Committed
Trade Receivables Securitization disclosures
Investment limits with financial institution	225,000,000
North American Program | Uncommitted
Trade Receivables Securitization disclosures
Investment limits with financial institution	40,000,000
Sales of Receivables to Third Party Banks
Trade Receivables Securitization disclosures
Company's accounts receivables sold to third-party	453,000,000	$ 637,900,000
Activity in the deferred purchase price receivables account
Receivables sold but not yet collected from banking institutions	$ 348,400,000		$ 339,400,000

FAIR VALUE MEASUREMENT OF ASS46

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES - Narrative (Details)	Oct. 01, 2015EUR (€)	Jul. 01, 2016USD ($)	Jun. 26, 2015USD ($)
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
Transfers out of Level 2 and into Level 1 related to assets and liabilities measured on a recurring and nonrecurring basis		0	0
Transfers out of Level 1 and into Level 2 related to liabilities measured on a recurring and nonrecurring basis		0	0
Transfers out of Level 2 and into Level 1 related to liabilities measured on a recurring and nonrecurring basis		0	$ 0
Mirror Controls International
Business Acquisition [Line Items]
Debt instrument, face amount	€ 50,000,000	$ 55,500,000
Term of debt instrument	5 years

FAIR VALUE MEASUREMENT OF ASS47

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES - Contingent Consideration (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 01, 2016	Jun. 26, 2015
Contingent Consideration Liability [Roll Forward]
Beginning balance	$ 73,423	$ 4,500
Additions to accrual	0	0
Payments	0	0
Fair value adjustments	1,835	0
Ending balance	$ 75,258	$ 4,500

FAIR VALUE MEASUREMENT OF ASS48

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES - Assets and Liabilities Measured on a Recurring Basis (Details) - Recurring Basis - USD ($) $ in Thousands	Jul. 01, 2016	Mar. 31, 2016
Money market funds and time deposits
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	$ 896,031	$ 1,074,132
Deferred purchase price receivable
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	460,334	501,097
Foreign exchange contracts
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	17,389	22,648
Total Liabilities	(11,858)	(21,091)
Deferred compensation plan assets: Mutual funds, money market accounts and equity securities
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	49,959	49,784
Contingent consideration in connection with business acquisitions
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Liabilities	(75,258)	(73,423)
Level 1 | Money market funds and time deposits
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	0	0
Level 1 | Deferred purchase price receivable
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	0	0
Level 1 | Foreign exchange contracts
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	8,504	9,228
Level 1 | Contingent consideration in connection with business acquisitions
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Liabilities	0	0
Level 2 | Money market funds and time deposits
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	896,031	1,074,132
Level 2 | Deferred purchase price receivable
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	0	0
Level 2 | Foreign exchange contracts
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	17,389	22,648
Total Liabilities	(11,858)	(21,091)
Level 2 | Deferred compensation plan assets: Mutual funds, money market accounts and equity securities
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	41,455	40,556
Level 2 | Contingent consideration in connection with business acquisitions
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Liabilities	0	0
Level 3 | Money market funds and time deposits
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	0	0
Level 3 | Deferred purchase price receivable
Financial Instruments Measured at Fair Value on a Recurring Basis and Nonrecurring Basis
Total Assets	460,334	501,097
Level 3 | Foreign exchange contracts
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	$ (75,258)	$ (73,423)

FAIR VALUE MEASUREMENT OF ASS49

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES - Debt Not Carried at Fair Value (Details) - USD ($) $ in Thousands	Jul. 01, 2016	Mar. 31, 2016
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%	4.75%
Carrying Amount
Other financial instruments
Fair Value	$ 2,705,684	$ 2,720,589
Carrying Amount | Level 1 | Term Loan, including current portion, due in installments through August 2018
Other financial instruments
Fair Value	573,750	577,500
Carrying Amount | Level 1 | Term Loan, including current portion, due in installments through March 2019
Other financial instruments
Fair Value	536,250	547,500
Carrying Amount | Level 1 | 4.625% Notes due February 2020
Other financial instruments
Fair Value	500,000	500,000
Carrying Amount | Level 1 | 5.000% Notes due February 2023
Other financial instruments
Fair Value	500,000	500,000
Carrying Amount | Level 1 | 4.750% Notes due June 2025
Other financial instruments
Fair Value	595,684	595,589
Fair Value
Other financial instruments
Fair Value	2,756,727	2,753,403
Fair Value | Level 1 | Term Loan, including current portion, due in installments through August 2018
Other financial instruments
Fair Value	567,295	573,533
Fair Value | Level 1 | Term Loan, including current portion, due in installments through March 2019
Other financial instruments
Fair Value	527,536	542,709
Fair Value | Level 1 | 4.625% Notes due February 2020
Other financial instruments
Fair Value	523,650	524,735
Fair Value | Level 1 | 5.000% Notes due February 2023
Other financial instruments
Fair Value	524,296	507,500
Fair Value | Level 1 | 4.750% Notes due June 2025
Other financial instruments
Fair Value	$ 613,950	$ 604,926

BUSINESS AND ASSETS ACQUISITI50

BUSINESS AND ASSETS ACQUISITIONS & DIVESTITURES - Narrative (Details) - USD ($) $ in Thousands	May 16, 2016	Jul. 01, 2016	Mar. 31, 2016
Business Acquisition [Line Items]
Goodwill and intangibles		$ 1,324,614	$ 1,345,820
Maximum time to complete final allocation of purchase price		12 months
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Percentage of voting interests acquired	100.00%
Purchase consideration net cash	$ 8,900
Cash acquired from acquisitions	200
Assumed liabilities	9,500
Goodwill and intangibles	$ 1,700
Operating Segments | High Reliability Solutions (HRS)
Business Acquisition [Line Items]
Proceeds from divestiture of businesses		$ 12,500

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - Brazil BRL in Millions, $ in Millions	3 Months Ended				12 Months Ended
	Mar. 31, 2016BRL	Mar. 31, 2016USD ($)	Dec. 31, 2013BRL	Dec. 31, 2013USD ($)	Mar. 31, 2015USD ($)
Assessment of Sales and Import Taxes
Loss Contingencies [Line Items]
Income tax examination, estimate of possible loss			BRL 52	$ 16	$ 100
Proposed Additional Assessment of Sales and Import Taxes
Loss Contingencies [Line Items]
Income tax examination, estimate of possible loss	BRL 57	$ 18

SHARE REPURCHASES (Details)

SHARE REPURCHASES (Details) - USD ($) shares in Millions	3 Months Ended
	Jul. 01, 2016	Aug. 20, 2015
Treasury Stock, Number of Shares and Restriction Disclosures [Abstract]
Aggregate shares repurchased (shares)	7.3
Aggregate purchase value of shares repurchased	$ 91,000,000
Authorized amount of stock repurchase program		$ 500,000,000
Amount remaining to be repurchased under the plans	$ 151,100,000

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) $ in Thousands	3 Months Ended
	Jul. 01, 2016USD ($)segment	Jun. 26, 2015USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment	4
Net sales	$ 5,876,813	$ 5,566,248
Intangible amortization	21,598	7,671
Stock-based compensation	23,797	16,126
Other charges, net	3,529	164
Interest and other, net	24,399	16,505
Income before income taxes	116,923	118,616
Operating Segments
Segment Reporting Information [Line Items]
Net sales	5,876,813	5,566,248
Total segment income	190,246	159,082
Operating Segments | Communications & Enterprise Compute
Segment Reporting Information [Line Items]
Net sales	2,195,990	1,966,562
Total segment income	61,899	57,065
Operating Segments | Consumer Technology Group
Segment Reporting Information [Line Items]
Net sales	1,313,782	1,564,964
Total segment income	24,634	38,843
Operating Segments | Industrial & Emerging Industries
Segment Reporting Information [Line Items]
Net sales	1,289,015	1,130,138
Total segment income	49,977	28,999
Operating Segments | High Reliability Solutions
Segment Reporting Information [Line Items]
Net sales	1,078,026	904,584
Total segment income	88,536	59,886
Operating Segments | Corporate and Other
Segment Reporting Information [Line Items]
Total segment income	$ (34,800)	$ (25,711)

SUPPLEMENTAL GUARANTOR AND NO54

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Narrative (Details) $ in Millions	3 Months Ended
	Jul. 01, 2016USD ($)tranche
Bank borrowings and long-term debt
Number of tranches | tranche	3
Percentage of ownership interest owned in subsidiaries that guarantees indebtedness	100.00%
4.625% Notes due February 2020
Bank borrowings and long-term debt
Maximum borrowing capacity	$ 500
5.000% Notes due February 2023
Bank borrowings and long-term debt
Maximum borrowing capacity	500
4.750% Notes due June 2025
Bank borrowings and long-term debt
Maximum borrowing capacity	$ 600

SUPPLEMENTAL GUARANTOR AND NO55

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Balance Sheet (Details) - USD ($) $ in Thousands	Jul. 01, 2016	Mar. 31, 2016	Jun. 26, 2015	Mar. 31, 2015
Current assets:
Cash and cash equivalents	$ 1,679,335	$ 1,607,570	$ 2,331,411	$ 1,628,408
Accounts receivable	2,057,943	2,044,757
Inventories	3,594,837	3,491,656
Inter company receivable	0	0
Other current assets	1,088,844	1,171,143
Total current assets	8,420,959	8,315,126
Property and equipment, net	2,296,445	2,257,633
Goodwill and other intangible assets, net	1,324,614	1,345,820
Other assets	466,506	466,402
Investment in subsidiaries	0	0
Total assets	12,508,524	12,384,981
Current liabilities:
Bank borrowings and current portion of long-term debt	66,020	65,166
Accounts payable	4,317,571	4,248,292
Accrued payroll	377,527	353,547
Inter company payable	0	0
Other current liabilities	1,866,585	1,905,200
Total current liabilities	6,627,703	6,572,205
Long term liabilities	3,214,227	3,207,246
Flextronics International Ltd. shareholders’ equity (deficit)	2,623,407	2,570,872
Noncontrolling interests	43,187	34,658
Total shareholders’ equity	2,666,594	2,605,530
Total liabilities and shareholders’ equity	12,508,524	12,384,981
Reportable legal entities | Parent
Current assets:
Cash and cash equivalents	431,588	734,869	1,347,411	608,971
Accounts receivable	0	0
Inventories	0	0
Inter company receivable	9,624,074	9,105,728
Other current assets	1,740	2,951
Total current assets	10,057,402	9,843,548
Property and equipment, net	0	0
Goodwill and other intangible assets, net	100	175
Other assets	2,232,494	2,249,145
Investment in subsidiaries	2,675,293	2,815,426
Total assets	14,965,289	14,908,294
Current liabilities:
Bank borrowings and current portion of long-term debt	58,836	58,836
Accounts payable	0	0
Accrued payroll	0	0
Inter company payable	9,557,901	9,562,405
Other current liabilities	26,524	33,008
Total current liabilities	9,643,261	9,654,249
Long term liabilities	2,698,621	2,683,173
Flextronics International Ltd. shareholders’ equity (deficit)	2,623,407	2,570,872
Noncontrolling interests	0	0
Total shareholders’ equity	2,623,407	2,570,872
Total liabilities and shareholders’ equity	14,965,289	14,908,294
Reportable legal entities | Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	118,892	148,201	209,441	168,272
Accounts receivable	819,169	729,331
Inventories	1,536,360	1,482,410
Inter company receivable	5,918,488	5,568,392
Other current assets	182,510	180,842
Total current assets	8,575,419	8,109,176
Property and equipment, net	561,046	553,072
Goodwill and other intangible assets, net	60,173	60,895
Other assets	269,927	267,034
Investment in subsidiaries	3,174,268	3,010,111
Total assets	12,640,833	12,000,288
Current liabilities:
Bank borrowings and current portion of long-term debt	946	946
Accounts payable	1,477,964	1,401,835
Accrued payroll	136,897	114,509
Inter company payable	8,546,945	7,999,335
Other current liabilities	809,796	869,470
Total current liabilities	10,972,548	10,386,095
Long term liabilities	2,059,725	2,063,988
Flextronics International Ltd. shareholders’ equity (deficit)	(391,440)	(449,795)
Noncontrolling interests	0	0
Total shareholders’ equity	(391,440)	(449,795)
Total liabilities and shareholders’ equity	12,640,833	12,000,288
Reportable legal entities | Non-Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	1,128,855	724,500	774,559	851,165
Accounts receivable	1,238,774	1,315,426
Inventories	2,058,477	2,009,246
Inter company receivable	12,736,490	12,404,722
Other current assets	904,594	987,350
Total current assets	18,067,190	17,441,244
Property and equipment, net	1,735,399	1,704,561
Goodwill and other intangible assets, net	1,264,341	1,284,750
Other assets	2,001,920	2,004,437
Investment in subsidiaries	18,214,271	18,175,348
Total assets	41,283,121	40,610,340
Current liabilities:
Bank borrowings and current portion of long-term debt	6,238	5,384
Accounts payable	2,839,607	2,846,457
Accrued payroll	240,630	239,038
Inter company payable	10,174,206	9,517,102
Other current liabilities	1,030,265	1,002,722
Total current liabilities	14,290,946	13,610,703
Long term liabilities	2,493,716	2,514,299
Flextronics International Ltd. shareholders’ equity (deficit)	24,455,272	24,450,680
Noncontrolling interests	43,187	34,658
Total shareholders’ equity	24,498,459	24,485,338
Total liabilities and shareholders’ equity	41,283,121	40,610,340
Eliminations
Current assets:
Cash and cash equivalents	0	0	$ 0	$ 0
Accounts receivable	0	0
Inventories	0	0
Inter company receivable	(28,279,052)	(27,078,842)
Other current assets	0	0
Total current assets	(28,279,052)	(27,078,842)
Property and equipment, net	0	0
Goodwill and other intangible assets, net	0	0
Other assets	(4,037,835)	(4,054,214)
Investment in subsidiaries	(24,063,832)	(24,000,885)
Total assets	(56,380,719)	(55,133,941)
Current liabilities:
Bank borrowings and current portion of long-term debt	0	0
Accounts payable	0	0
Accrued payroll	0	0
Inter company payable	(28,279,052)	(27,078,842)
Other current liabilities	0	0
Total current liabilities	(28,279,052)	(27,078,842)
Long term liabilities	(4,037,835)	(4,054,214)
Flextronics International Ltd. shareholders’ equity (deficit)	(24,063,832)	(24,000,885)
Noncontrolling interests	0	0
Total shareholders’ equity	(24,063,832)	(24,000,885)
Total liabilities and shareholders’ equity	$ (56,380,719)	$ (55,133,941)

SUPPLEMENTAL GUARANTOR AND NO56

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 01, 2016	Jun. 26, 2015
Condensed consolidating statements of operations
Net sales	$ 5,876,813	$ 5,566,248
Cost of sales	5,470,818	5,213,907
Gross profit	405,995	352,341
Selling, general and administrative expenses	239,546	209,385
Intangible amortization	21,598	7,671
Interest and other, net	27,928	16,669
Income before income taxes	116,923	118,616
Provision for income taxes	11,194	7,766
Equity in earnings in subsidiaries	0	0
Net income	105,729	110,850
Reportable legal entities | Parent
Condensed consolidating statements of operations
Net sales	0	0
Cost of sales	0	0
Gross profit	0	0
Selling, general and administrative expenses	0	0
Intangible amortization	75	75
Interest and other, net	(316,390)	(267,052)
Income before income taxes	316,315	266,977
Provision for income taxes	0	0
Equity in earnings in subsidiaries	(210,586)	(156,127)
Net income	105,729	110,850
Reportable legal entities | Guarantor Subsidiaries
Condensed consolidating statements of operations
Net sales	3,830,352	4,046,385
Cost of sales	3,413,282	3,644,059
Gross profit	417,070	402,326
Selling, general and administrative expenses	69,969	63,559
Intangible amortization	717	960
Interest and other, net	416,317	336,992
Income before income taxes	(69,933)	815
Provision for income taxes	595	9,099
Equity in earnings in subsidiaries	(727)	(17,826)
Net income	(71,255)	(26,110)
Reportable legal entities | Non-Guarantor Subsidiaries
Condensed consolidating statements of operations
Net sales	4,336,646	3,935,515
Cost of sales	4,347,721	3,985,500
Gross profit	(11,075)	(49,985)
Selling, general and administrative expenses	169,577	145,826
Intangible amortization	20,806	6,636
Interest and other, net	(71,999)	(53,271)
Income before income taxes	(129,459)	(149,176)
Provision for income taxes	10,599	(1,333)
Equity in earnings in subsidiaries	(22,105)	37,047
Net income	(162,163)	(110,796)
Eliminations
Condensed consolidating statements of operations
Net sales	(2,290,185)	(2,415,652)
Cost of sales	(2,290,185)	(2,415,652)
Gross profit	0	0
Selling, general and administrative expenses	0	0
Intangible amortization	0	0
Interest and other, net	0	0
Income before income taxes	0	0
Provision for income taxes	0	0
Equity in earnings in subsidiaries	233,418	136,906
Net income	$ 233,418	$ 136,906

SUPPLEMENTAL GUARANTOR AND NO57

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Statement of Comprehensive Income (Details) - USD ($)	3 Months Ended
	Jul. 01, 2016	Jun. 26, 2015
Condensed consolidating statements of comprehensive income (loss)
Net income (loss)	$ 105,729,000	$ 110,850,000
Other comprehensive income:
Foreign currency translation adjustments, net of zero tax	9,861,000	2,783,000
Unrealized gain on derivative instruments and other, net of zero tax	1,348,000	12,829,000
Comprehensive income	116,938,000	126,462,000
Foreign currency translation adjustments, tax	0	0
Unrealized gain (loss) on derivative instruments and other, tax	0	0
Reportable legal entities | Parent
Condensed consolidating statements of comprehensive income (loss)
Net income (loss)	105,729,000	110,850,000
Other comprehensive income:
Foreign currency translation adjustments, net of zero tax	9,861,000	2,783,000
Unrealized gain on derivative instruments and other, net of zero tax	1,348,000	12,829,000
Comprehensive income	116,938,000	126,462,000
Foreign currency translation adjustments, tax	0	0
Unrealized gain (loss) on derivative instruments and other, tax	0	0
Reportable legal entities | Guarantor Subsidiaries
Condensed consolidating statements of comprehensive income (loss)
Net income (loss)	(71,255,000)	(26,110,000)
Other comprehensive income:
Foreign currency translation adjustments, net of zero tax	17,709,000	(23,490,000)
Unrealized gain on derivative instruments and other, net of zero tax	2,449,000	4,624,000
Comprehensive income	(51,097,000)	(44,976,000)
Foreign currency translation adjustments, tax	0	0
Unrealized gain (loss) on derivative instruments and other, tax	0	0
Reportable legal entities | Non-Guarantor Subsidiaries
Condensed consolidating statements of comprehensive income (loss)
Net income (loss)	(162,163,000)	(110,796,000)
Other comprehensive income:
Foreign currency translation adjustments, net of zero tax	24,763,000	(20,897,000)
Unrealized gain on derivative instruments and other, net of zero tax	1,348,000	12,829,000
Comprehensive income	(136,052,000)	(118,864,000)
Foreign currency translation adjustments, tax	0	0
Unrealized gain (loss) on derivative instruments and other, tax	0	0
Eliminations
Condensed consolidating statements of comprehensive income (loss)
Net income (loss)	233,418,000	136,906,000
Other comprehensive income:
Foreign currency translation adjustments, net of zero tax	(42,472,000)	44,387,000
Unrealized gain on derivative instruments and other, net of zero tax	(3,797,000)	(17,453,000)
Comprehensive income	187,149,000	163,840,000
Foreign currency translation adjustments, tax	0	0
Unrealized gain (loss) on derivative instruments and other, tax	$ 0	$ 0

SUPPLEMENTAL GUARANTOR AND NO58

SUPPLEMENTAL GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 01, 2016	Jun. 26, 2015
Condensed consolidating statements of cash flows
Net cash provided by (used in) operating activities	$ 263,932	$ 362,276
Cash flows from investing activities:
Purchases of property and equipment, net of proceeds from disposal	(143,381)	(136,836)
Acquisition of businesses, net of cash acquired	(9,492)	(18,580)
Proceeds from divestiture of business, net of cash held in divested business	14,828	1,000
Investing cash flows to affiliates	0	0
Other investing activities, net	26,261	(7,580)
Net cash used in investing activities	(111,784)	(161,996)
Cash flows from financing activities:
Proceeds from bank borrowings and long-term debt	75,018	595,548
Repayments of bank borrowings and long-term debt	(92,222)	(8,457)
Payments for repurchases of ordinary shares	(94,715)	(99,995)
Net proceeds from issuance of ordinary shares	3,966	44,602
Financing cash flows from affiliates	0	0
Other financing activities, net	12,901	(25,252)
Net cash (used in) provided by financing activities	(95,052)	506,446
Effect of exchange rates on cash and cash equivalents	14,669	(3,723)
Net increase in cash and cash equivalents	71,765	703,003
Cash and cash equivalents, beginning of period	1,607,570	1,628,408
Cash and cash equivalents, end of period	1,679,335	2,331,411
Reportable legal entities | Parent
Condensed consolidating statements of cash flows
Net cash provided by (used in) operating activities	300,435	280,844
Cash flows from investing activities:
Purchases of property and equipment, net of proceeds from disposal	0	0
Acquisition of businesses, net of cash acquired	0	0
Proceeds from divestiture of business, net of cash held in divested business	0	0
Investing cash flows to affiliates	(481,875)	(720,048)
Other investing activities, net	1	0
Net cash used in investing activities	(481,874)	(720,048)
Cash flows from financing activities:
Proceeds from bank borrowings and long-term debt	74,972	595,309
Repayments of bank borrowings and long-term debt	(90,000)	(6,604)
Payments for repurchases of ordinary shares	(94,715)	(99,995)
Net proceeds from issuance of ordinary shares	3,966	44,602
Financing cash flows from affiliates	(30,704)	619,970
Other financing activities, net	30,000	0
Net cash (used in) provided by financing activities	(106,481)	1,153,282
Effect of exchange rates on cash and cash equivalents	(15,361)	24,362
Net increase in cash and cash equivalents	(303,281)	738,440
Cash and cash equivalents, beginning of period	734,869	608,971
Cash and cash equivalents, end of period	431,588	1,347,411
Reportable legal entities | Guarantor Subsidiaries
Condensed consolidating statements of cash flows
Net cash provided by (used in) operating activities	(217,862)	(4,684)
Cash flows from investing activities:
Purchases of property and equipment, net of proceeds from disposal	(39,399)	(47,108)
Acquisition of businesses, net of cash acquired	(8,888)	(2,785)
Proceeds from divestiture of business, net of cash held in divested business	0	0
Investing cash flows to affiliates	(816,210)	(162,774)
Other investing activities, net	(1,260)	(14,787)
Net cash used in investing activities	(865,757)	(227,454)
Cash flows from financing activities:
Proceeds from bank borrowings and long-term debt	0	221
Repayments of bank borrowings and long-term debt	(1,152)	(493)
Payments for repurchases of ordinary shares	0	0
Net proceeds from issuance of ordinary shares	0	0
Financing cash flows from affiliates	1,056,584	274,540
Other financing activities, net	0	0
Net cash (used in) provided by financing activities	1,055,432	274,268
Effect of exchange rates on cash and cash equivalents	(1,122)	(961)
Net increase in cash and cash equivalents	(29,309)	41,169
Cash and cash equivalents, beginning of period	148,201	168,272
Cash and cash equivalents, end of period	118,892	209,441
Reportable legal entities | Non-Guarantor Subsidiaries
Condensed consolidating statements of cash flows
Net cash provided by (used in) operating activities	181,392	86,116
Cash flows from investing activities:
Purchases of property and equipment, net of proceeds from disposal	(103,976)	(89,728)
Acquisition of businesses, net of cash acquired	(604)	(15,795)
Proceeds from divestiture of business, net of cash held in divested business	14,828	1,000
Investing cash flows to affiliates	(653,366)	(1,176,220)
Other investing activities, net	27,520	7,207
Net cash used in investing activities	(715,598)	(1,273,536)
Cash flows from financing activities:
Proceeds from bank borrowings and long-term debt	46	18
Repayments of bank borrowings and long-term debt	(1,070)	(1,360)
Payments for repurchases of ordinary shares	0	0
Net proceeds from issuance of ordinary shares	0	0
Financing cash flows from affiliates	925,532	1,164,532
Other financing activities, net	(17,099)	(25,252)
Net cash (used in) provided by financing activities	907,409	1,137,938
Effect of exchange rates on cash and cash equivalents	31,152	(27,124)
Net increase in cash and cash equivalents	404,355	(76,606)
Cash and cash equivalents, beginning of period	724,500	851,165
Cash and cash equivalents, end of period	1,128,855	774,559
Eliminations
Condensed consolidating statements of cash flows
Net cash provided by (used in) operating activities	(33)	0
Cash flows from investing activities:
Purchases of property and equipment, net of proceeds from disposal	(6)	0
Acquisition of businesses, net of cash acquired	0	0
Proceeds from divestiture of business, net of cash held in divested business	0	0
Investing cash flows to affiliates	1,951,451	2,059,042
Other investing activities, net	0	0
Net cash used in investing activities	1,951,445	2,059,042
Cash flows from financing activities:
Proceeds from bank borrowings and long-term debt	0	0
Repayments of bank borrowings and long-term debt		0
Payments for repurchases of ordinary shares	0	0
Net proceeds from issuance of ordinary shares	0	0
Financing cash flows from affiliates	(1,951,412)	(2,059,042)
Other financing activities, net	0	0
Net cash (used in) provided by financing activities	(1,951,412)	(2,059,042)
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