Flex Ltd. (FLEX) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
2 CHANGI SOUTH LANE SINGAPORE, 486123 |
| State of Incorp. | |
| Fiscal Year End | March 31 |
| Industry (SIC) | 3672 - Printed Circuit Boards (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 12/31/2023 MRQ | 3/31/2023 | 3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | 3/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 3,294 | 2,964 | 2,637 | 1,923 | 1,697 | 1,472 | |||
| Cash and cash equivalents | 3,294 | 2,964 | 2,637 | 1,923 | 1,697 | 1,472 | |||
| Receivables | 3,739 | 3,371 | 4,106 | 2,436 | 2,613 | 2,518 | |||
| Inventory, net of allowances, customer advances and progress billings | 7,530 | 6,580 | 3,895 | 3,785 | 3,723 | 3,800 | |||
| Inventory | 7,530 | 6,580 | 3,895 | 3,785 | 3,723 | 3,800 | |||
| Other current assets | 917 | 903 | 590 | 660 | 855 | 1,380 | |||
| Other undisclosed current assets | 541 | 519 | 135 | 282 | 216 | ||||
| Total current assets: | 16,021 | 14,337 | 11,363 | 9,086 | 9,103 | 9,170 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 608 | 637 | 642 | 605 | ✕ | ✕ | |||
| Property, plant and equipment | 2,349 | 2,125 | 2,097 | 2,216 | 2,336 | 2,240 | |||
| Intangible assets, net (including goodwill) | 1,659 | 1,753 | 1,303 | 1,327 | 1,404 | 1,546 | |||
| Goodwill | 1,343 | 1,342 | 1,090 | 1,065 | 1,073 | 1,121 | |||
| Intangible assets, net (excluding goodwill) | 316 | 411 | 213 | 262 | 331 | 424 | |||
| Other noncurrent assets | 758 | 473 | 431 | 455 | 656 | 760 | |||
| Total noncurrent assets: | 5,374 | 4,988 | 4,473 | 4,603 | 4,396 | 4,545 | |||
| TOTAL ASSETS: | 21,395 | 19,325 | 15,836 | 13,690 | 13,499 | 13,716 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 6,452 | 6,724 | 5,720 | 5,472 | 5,539 | 5,506 | |||
| Employee-related liabilities | ✕ | ✕ | 470 | 473 | 364 | 392 | 383 | ||
| Accounts payable | 5,930 | 6,254 | 5,247 | 5,108 | 5,147 | 5,122 | |||
| Accrued liabilities | 522 | ||||||||
| Deferred revenue | 2,002 | ✕ | ✕ | ||||||
| Debt | 150 | 949 | 268 | 149 | 633 | 43 | |||
| Restructuring reserve | 50 | ||||||||
| Other liabilities | 1,110 | 1,036 | 1,846 | 1,590 | 1,426 | 1,719 | |||
| Other undisclosed current liabilities | 3,093 | ||||||||
| Total current liabilities: | 10,855 | 10,711 | 7,834 | 7,211 | 7,598 | 7,268 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 3,691 | 3,799 | 4,077 | 3,218 | 2,422 | 2,898 | |||
| Long-term debt, excluding current maturities | 3,691 | 3,248 | 3,515 | 2,689 | 2,422 | 2,898 | |||
| Liabilities, other than long-term debt | 1,143 | 608 | 489 | 429 | 508 | 532 | |||
| Other liabilities | 637 | 608 | 489 | 429 | 508 | 532 | |||
| Operating lease, liability | 506 | 551 | 562 | 529 | ✕ | ✕ | |||
| Total noncurrent liabilities: | 4,834 | 4,407 | 4,566 | 3,647 | 2,929 | 3,429 | |||
| Total liabilities: | 15,689 | 15,118 | 12,400 | 10,858 | 10,527 | 10,697 | |||
| Temporary equity, carrying amount | 78 | ||||||||
| Equity | |||||||||
| Equity, attributable to parent, including: | 5,351 | (1,923) | (2,796) | (3,505) | (3,551) | 3,019 | |||
| Treasury stock, value | (388) | (388) | (388) | (388) | (388) | (388) | |||
| Accumulated other comprehensive loss | (194) | (182) | (119) | (215) | (151) | (86) | |||
| Retained earnings (accumulated deficit) | (560) | (1,353) | (2,289) | (2,902) | (3,012) | (3,144) | |||
| Other undisclosed equity, attributable to parent | 6,493 | 6,637 | |||||||
| Equity, attributable to noncontrolling interest | 355 | ||||||||
| Other undisclosed equity | 6,052 | 6,232 | 6,336 | 6,524 | |||||
| Total equity: | 5,706 | 4,129 | 3,436 | 2,831 | 2,972 | 3,019 | |||
| TOTAL LIABILITIES AND EQUITY: | 21,395 | 19,325 | 15,836 | 13,690 | 13,499 | 13,716 | |||
Income Statement (P&L) ($ in millions)
| 12/31/2023 TTM | 3/31/2023 | 3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | 3/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 30,346 | 26,041 | 24,124 | 24,210 | 26,211 | 25,441 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 25,441 | |
| Cost of revenue (Cost of Goods and Services Sold) | (28,058) | (24,094) | (22,349) | (22,681) | (24,594) | (23,778) | ||
| Other undisclosed gross profit | (23) | (15) | (88) | (190) | (99) | (67) | ||
| Gross profit: | 2,265 | 1,932 | 1,687 | 1,338 | 1,518 | 1,596 | ||
| Operating expenses | (1,077) | (960) | (879) | (898) | (1,027) | (1,098) | ||
| Other undisclosed operating loss | (4) | (0) | ||||||
| Operating income: | 1,184 | 972 | 808 | 440 | 490 | 498 | ||
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | (5) | 225 | 67 | (92) | (110) | (123) | ||
| Interest and debt expense | (187) | (153) | (150) | (7) | (146) | (123) | ||
| Income from continuing operations before equity method investments, income taxes: | 992 | 1,044 | 725 | 341 | 234 | 252 | ||
| Loss from equity method investments | (4) | |||||||
| Other undisclosed income (loss) from continuing operations before income taxes | (14) | 1 | (11) | (183) | (52) | 269 | ||
| Income from continuing operations before income taxes: | 974 | 1,045 | 714 | 158 | 182 | 521 | ||
| Income tax expense (benefit) | 59 | (105) | (101) | (71) | (89) | (92) | ||
| Income from continuing operations: | 1,033 | 940 | 613 | 88 | 93 | 429 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | 940 | 613 | 88 | 93 | 429 | |
| Other undisclosed net loss | (8) | |||||||
| Net income: | 1,033 | 940 | 613 | 88 | 93 | 421 | ||
| Net loss attributable to noncontrolling interest | (240) | (4) | ||||||
| Other undisclosed net income (loss) attributable to parent | 8 | |||||||
| Net income available to common stockholders, diluted: | 793 | 936 | 613 | 88 | 93 | 429 | ||
Comprehensive Income ($ in millions)
| 12/31/2023 TTM | 3/31/2023 | 3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | 3/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 1,033 | 940 | 613 | 88 | 93 | 421 | ||
| Other comprehensive income (loss) | (12) | (63) | 96 | (64) | (65) | 42 | ||
| Other undisclosed comprehensive income | 8 | |||||||
| Comprehensive income: | 1,021 | 877 | 709 | 24 | 28 | 471 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (240) | (4) | ||||||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | ||||||||
| Comprehensive income, net of tax, attributable to parent: | 781 | 873 | 709 | 24 | 28 | 471 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.