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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Flex Ltd | NASDAQ:FLEX | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.355 | 1.22% | 29.565 | 29.55 | 29.56 | 29.68 | 29.00 | 29.05 | 487,612 | 15:00:59 |
Singapore
|
|
Not Applicable
|
(State or other jurisdiction of
|
|
(I.R.S. Employer
|
incorporation or organization)
|
|
Identification No.)
|
2 Changi South Lane,
|
|
|
Singapore
|
|
486123
|
(Address of registrant’s principal executive offices)
|
|
(Zip Code)
|
Large accelerated filer
ý
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|
Accelerated filer
o
|
|
|
|
Non-accelerated filer
o
|
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Smaller reporting company
o
|
(Do not check if a smaller reporting company)
|
|
|
Class
|
|
Outstanding at June 22, 2016
|
Ordinary Shares, No Par Value
|
|
545,468,473
|
|
|
Page
|
|
|
|
|
||
|
||
|
||
|
||
|
||
|
||
|
|
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|
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|
/s/ DELOITTE & TOUCHE LLP
|
|
San Jose, California
|
|
July 27, 2016
|
|
|
As of July 1, 2016
|
|
As of March 31, 2016
|
||||
|
(In thousands, except share amounts)
(Unaudited) |
||||||
ASSETS
|
|||||||
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
|
|
|
|
|
|
||||
LIABILITIES AND SHAREHOLDERS’ EQUITY
|
|||||||
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)
|
|
|
|
|
|
||
Shareholders’ equity
|
|
|
|
|
|
||
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
|
|
|
Three-Month Periods Ended
|
||||||
|
July 1, 2016
|
|
June 26, 2015
|
||||
|
(In thousands, except per share amounts)
(Unaudited) |
||||||
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
|
$
|
0.19
|
|
|
$
|
0.20
|
|
Diluted
|
$
|
0.19
|
|
|
$
|
0.19
|
|
Weighted-average shares used in computing per share amounts:
|
|
|
|
|
|
||
Basic
|
544,631
|
|
|
565,545
|
|
||
Diluted
|
551,029
|
|
|
577,997
|
|
|
Three-Month Periods Ended
|
||||||
|
July 1, 2016
|
|
June 26, 2015
|
||||
|
(In thousands)
(Unaudited) |
||||||
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
|
|
|
Three-Month Periods Ended
|
||||||
|
July 1, 2016
|
|
June 26, 2015
|
||||
|
(In thousands)
(Unaudited)
|
||||||
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
|
|
|
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
|
|
|
|
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.
|
|
As of July 1, 2016
|
|
As of March 31, 2016
|
||||||||||||||||||||
|
Gross
Carrying Amount |
|
Accumulated
Amortization |
|
Net
Carrying Amount |
|
Gross
Carrying Amount |
|
Accumulated
Amortization |
|
Net
Carrying Amount |
||||||||||||
|
(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
|
|
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
.
|
|
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
|
|
|
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
|
|
|
|
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
|
|
|
Fair Values of Derivative Instruments
|
||||||||||||||||||
|
Asset Derivatives
|
|
Liability Derivatives
|
||||||||||||||||
|
|
|
Fair Value
|
|
|
|
Fair Value
|
||||||||||||
|
Balance Sheet
Location |
|
July 1,
2016 |
|
March 31,
2016 |
|
Balance Sheet
Location |
|
July 1,
2016 |
|
March 31,
2016 |
||||||||
|
(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
|
|
|
Three-Month Periods Ended
|
||||||||||||||||||||||
|
July 1, 2016
|
|
June 26, 2015
|
||||||||||||||||||||
|
Unrealized gain
(loss) on derivative instruments and other |
|
Foreign currency
translation adjustments |
|
Total
|
|
Unrealized gain
(loss) on derivative instruments and other |
|
Foreign currency
translation adjustments |
|
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
|
)
|
|
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
|
|
|
Three-Month Periods Ended
|
||||||
|
July 1,
2016 |
|
June 26,
2015 |
||||
|
(In thousands)
|
||||||
Beginning balance
|
$
|
73,423
|
|
|
$
|
4,500
|
|
Additions to accrual
|
—
|
|
|
—
|
|
||
Payments
|
—
|
|
|
—
|
|
||
Fair value adjustments
|
1,835
|
|
|
—
|
|
||
Ending balance
|
$
|
75,258
|
|
|
$
|
4,500
|
|
|
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
|
)
|
|
As of July 1, 2016
|
|
As of March 31, 2016
|
|
|
||||||||||||
|
Carrying
Amount |
|
Fair
Value |
|
Carrying
Amount |
|
Fair
Value |
|
Fair Value
Hierarchy |
||||||||
|
(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
|
|
|
|
|
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
|
|
|
Parent
|
|
Guarantor
Subsidiaries |
|
Non-Guarantor
Subsidiaries |
|
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
|
|
|
Parent
|
|
Guarantor
Subsidiaries |
|
Non-Guarantor
Subsidiaries |
|
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
|
|
|
Parent
|
|
Guarantor
Subsidiaries |
|
Non-
Guarantor Subsidiaries |
|
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
|
|
|
Parent
|
|
Guarantor
Subsidiaries |
|
Non-
Guarantor Subsidiaries |
|
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
|
|
|
Parent
|
|
Guarantor
Subsidiaries |
|
Non-Guarantor
Subsidiaries |
|
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
|
|
|
Parent
|
|
Guarantor
Subsidiaries |
|
Non-Guarantor
Subsidiaries |
|
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
|
|
|
|
As of
|
|
As of
|
||||||||||
Property and equipment, net:
|
|
July 1, 2016
|
|
March 31, 2016
|
||||||||||
|
|
(In thousands)
|
||||||||||||
China
|
|
$
|
793,893
|
|
|
35
|
%
|
|
$
|
789,571
|
|
|
35
|
%
|
Mexico
|
|
447,250
|
|
|
19
|
%
|
|
429,989
|
|
|
19
|
%
|
||
U.S.
|
|
319,202
|
|
|
14
|
%
|
|
330,778
|
|
|
15
|
%
|
||
Malaysia
|
|
161,414
|
|
|
7
|
%
|
|
159,787
|
|
|
7
|
%
|
||
Brazil
|
|
123,720
|
|
|
5
|
%
|
|
121,949
|
|
|
5
|
%
|
||
Other
|
|
450,966
|
|
|
20
|
%
|
|
425,559
|
|
|
19
|
%
|
||
|
|
$
|
2,296,445
|
|
|
|
|
|
$
|
2,257,633
|
|
|
|
|
•
|
changes in the macro-economic environment and related changes in consumer demand;
|
•
|
the mix of the manufacturing services we are providing, the number and size of new manufacturing programs, the degree to which we utilize our manufacturing capacity, seasonal demand, shortages of components and other factors;
|
•
|
the effects on our business when our customers are not successful in marketing their products, or when their products do not gain widespread commercial acceptance;
|
•
|
our ability to achieve commercially viable production yields and to manufacture components in commercial quantities to the performance specifications demanded by our OEM customers;
|
•
|
the effects on our business due to our customers’ products having short product life cycles;
|
•
|
our customers’ ability to cancel or delay orders or change production quantities;
|
•
|
our customers’ decision to choose internal manufacturing instead of outsourcing for their product requirements;
|
•
|
our exposure to financially troubled customers;
|
•
|
integration of acquired businesses and facilities;
|
•
|
increased labor costs due to adverse labor conditions in the markets we operate; and
|
•
|
changes in tax legislation.
|
|
Three-Month Periods Ended
|
||||
|
July 1, 2016
|
|
June 26, 2015
|
||
Net sales
|
100.0
|
%
|
|
100.0
|
%
|
Cost of sales
|
93.1
|
|
|
93.7
|
|
Gross profit
|
6.9
|
|
|
6.3
|
|
Selling, general and administrative expenses
|
4.1
|
|
|
3.8
|
|
Intangible amortization
|
0.4
|
|
|
0.1
|
|
Interest and other, net
|
0.4
|
|
|
0.3
|
|
Other charges, net
|
0.1
|
|
|
0.0
|
|
Income before income taxes
|
1.9
|
|
|
2.1
|
|
Provision for income taxes
|
0.2
|
|
|
0.1
|
|
Net income
|
1.7
|
%
|
|
2.0
|
%
|
|
|
Three-Month Periods Ended
|
||||||||||||
Segments:
|
|
July 1, 2016
|
|
June 26, 2015
|
||||||||||
|
|
(In thousands)
|
||||||||||||
Communications & Enterprise Compute
|
|
$
|
2,195,990
|
|
|
38
|
%
|
|
$
|
1,966,562
|
|
|
35
|
%
|
Consumer Technologies Group
|
|
1,313,782
|
|
|
22
|
%
|
|
1,564,964
|
|
|
28
|
%
|
||
Industrial & Emerging Industries
|
|
1,289,015
|
|
|
22
|
%
|
|
1,130,138
|
|
|
21
|
%
|
||
High Reliability Solutions
|
|
1,078,026
|
|
|
18
|
%
|
|
904,584
|
|
|
16
|
%
|
||
|
|
$
|
5,876,813
|
|
|
|
|
|
$
|
5,566,248
|
|
|
|
|
|
Three-Month Periods Ended
|
||||||||||||
|
July 1, 2016
|
|
June 26, 2015
|
||||||||||
|
(In thousands)
|
||||||||||||
Segment income & margin:
|
|
|
|
|
|
|
|
||||||
Communications & Enterprise Compute
|
$
|
61,899
|
|
|
2.8
|
%
|
|
$
|
57,065
|
|
|
2.9
|
%
|
Consumer Technologies Group
|
24,634
|
|
|
1.9
|
%
|
|
38,843
|
|
|
2.5
|
%
|
||
Industrial & Emerging Industries
|
49,977
|
|
|
3.9
|
%
|
|
28,999
|
|
|
2.6
|
%
|
||
High Reliability Solutions
|
88,536
|
|
|
8.2
|
%
|
|
59,886
|
|
|
6.6
|
%
|
||
Corporate and Other
|
(34,800
|
)
|
|
|
|
(25,711
|
)
|
|
|
||||
Total segment income
|
190,246
|
|
|
3.2
|
%
|
|
159,082
|
|
|
2.9
|
%
|
||
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
|
|
|
|
|
Three-Month Periods Ended
|
||
|
July 1,
2016 |
|
June 26,
2015 |
Days in trade accounts receivable
|
39 days
|
|
46 days
|
Days in inventory
|
59 days
|
|
60 days
|
Days in accounts payable
|
71 days
|
|
78 days
|
Cash conversion cycle
|
27 days
|
|
28 days
|
|
Three-Month Periods Ended
|
||||||
|
July 1, 2016
|
|
June 26, 2015
|
||||
|
(In thousands)
|
||||||
Net cash provided by operating activities
|
$
|
263,932
|
|
|
$
|
362,276
|
|
Purchases of property and equipment
|
(159,103
|
)
|
|
(138,348
|
)
|
||
Proceeds from the disposition of property and equipment
|
15,722
|
|
|
1,512
|
|
||
Free cash flow
|
$
|
120,551
|
|
|
$
|
225,440
|
|
Period (2)
|
|
Total Number of
Shares Purchased (1) |
|
Average Price
Paid per Share |
|
Total Number of
Shares Purchased as Part of Publicly Announced Plans or Programs |
|
Approximate Dollar Value of
Shares that May Yet Be Purchased Under the Plans or Programs |
||||||
April 1 - May 6, 2016
|
|
1,870,917
|
|
|
$
|
12.17
|
|
|
1,870,917
|
|
|
$
|
219,312,874
|
|
May 7 - June 3, 2016
|
|
2,835,700
|
|
|
$
|
12.40
|
|
|
2,835,700
|
|
|
$
|
184,164,117
|
|
June 4 - July 1, 2016
|
|
2,591,490
|
|
|
$
|
12.75
|
|
|
2,591,490
|
|
|
$
|
151,114,466
|
|
Total
|
|
7,298,107
|
|
|
|
|
|
7,298,107
|
|
|
|
|
(1)
|
During the period from
April 1, 2016
through
July 1, 2016
, all purchases were made pursuant to the programs discussed below in open market transactions. All purchases were made in accordance with Rule 10b-18 under the Securities Exchange Act of 1934.
|
(2)
|
On
August 20, 2015
, our Board of Directors authorized the repurchase of our outstanding ordinary shares for up to $500 million. This is in accordance with the share purchase mandate whereby our shareholders approved a repurchase limit of 20% of our issued ordinary shares outstanding at the Extraordinary General Meeting held on the same date as the Board authorization. As of
July 1, 2016
, shares in the aggregate amount of
$151.1 million
were available to be repurchased under the current plan.
|
|
|
FLEXTRONICS INTERNATIONAL LTD.
|
|
|
(Registrant)
|
|
|
|
|
|
|
|
|
/s/ Michael M. McNamara
|
|
|
Michael M. McNamara
|
|
|
Chief Executive Officer
|
|
|
(Principal Executive Officer)
|
|
|
|
Date:
|
July 27, 2016
|
|
|
|
/s/ Christopher Collier
|
|
|
Christopher Collier
|
|
|
Chief Financial Officer
|
|
|
(Principal Financial Officer)
|
|
|
|
Date:
|
July 27, 2016
|
|
|
|
|
|
|
|
Incorporated by Reference
|
|
|
|
Filed
|
|||
Exhibit No.
|
|
Exhibit
|
|
Form
|
|
File No.
|
|
Filing Date
|
|
Exhibit No.
|
|
Herewith
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.01
|
|
|
BrightBox Technologies, Inc. 2013 Equity Incentive Plan
|
|
S-8
|
|
333-
212267 |
|
6/27/2016
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99.01
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10.02
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Description of Annual Bonus Incentive Plan for Fiscal 2017.
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X
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10.03
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Description of Performance Long Term Incentive Plan for Fiscal 2017.
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X
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10.04
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Mutual Separation Agreement and Release of Claims dated June 20, 2016, by and between Flextronics International USA, Inc., a wholly-owned subsidiary of Flextronics International Ltd. and Jon S. Hoak.
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X
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15.01
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Letter in lieu of consent of Deloitte & Touche LLP.
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X
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31.01
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Certification of Principal Executive Officer pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
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X
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31.02
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Certification of Principal Financial Officer pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
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X
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32.01
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Certification of Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14(b) under the Securities Exchange Act of 1934 and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*
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X
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101.INS
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XBRL Instance Document
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X
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101.SCH
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XBRL Taxonomy Extension Schema Document
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X
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101.CAL
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XBRL Taxonomy Extension Calculation Linkbase Document
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X
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101.DEF
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XBRL Taxonomy Extension Definition Linkbase Document
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X
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101.LAB
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XBRL Taxonomy Extension Label Linkbase Document
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X
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101.PRE
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XBRL Taxonomy Extension Presentation Linkbase Document
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X
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1 Year Flex Chart |
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