SEGMENT REPORTING (Tables)

3 Months Ended

Jun. 27, 2025

Schedule of Segment Reporting Information by Operating Segment

Selected financial information by segment is in the table below.


Three Months Ended June 27, 2025	FAS		FRS		Corporate & Other		Total
Net Sales	$	3,691	$	2,884	$	—	$	6,575
Cost of inventory	(2,732)		(1,927)		—		(4,659)
Manufacturing expenses	(634)		(681)		(5)		(1,320)

Segment selling, general and administrative expenses	(85)		(104)		(12)		(201)
Segment income	$	240	$	172	$	(17)	$	395
Reconciling items:
Intangible amortization							$	21
Stock-based compensation							34
Restructuring charges							23

Legal and other (1)							6
Interest expenses							51
Interest income							13
Other charges (income), net							7
Equity in earnings (losses) of unconsolidated affiliates							(20)
Income before income taxes							$	246

(1)Legal and other consists of costs not directly related to core business results and including matters relating to commercial disputes, government regulatory and compliance, intellectual property, antitrust, tax, employment or shareholder issues, product liability claims and other issues on a global basis as well as acquisition related costs and asset impairment. During the first quarter of fiscal year 2026, legal costs were primarily related to costs from acquisitions occurring in fiscal year 2025 and the first quarter of fiscal year 2026.


Three Months Ended June 28, 2024	FAS		FRS		Corporate & Other		Total
Net Sales	$	3,365	$	2,949	$	—	$	6,314
Cost of inventory	(2,496)		(2,003)		—		(4,499)
Manufacturing expenses	(613)		(699)		(8)		(1,320)

Segment selling, general and administrative expenses	(77)		(100)		(12)		(189)
Segment income	$	179	$	147	$	(20)	$	306
Reconciling items:
Intangible amortization							$	16
Stock-based compensation							32
Restructuring charges							25


Interest expenses							56
Interest income							16
Other charges (income), net							2
Equity in earnings (losses) of unconsolidated affiliates							1
Income before income taxes							$	192

Total depreciation expense, including amounts allocated to the reportable segments and Corporate and Other for the three-month periods ended June 27, 2025 and June 28, 2024 as follows:


	Three-Month Periods Ended
	June 27, 2025		June 28, 2024
	(In millions)
Depreciation expense:
Flex Agility Solutions	$	50	$	44
Flex Reliability Solutions	62		62

Corporate and Other	3		4
Total depreciation expense	$	115	$	110

FLEX LTD. 10-Q