8-KOther Events

FLEX LTD. 8-K Report (Jan 29, 2001)

Filed January 29, 2001For Securities:FLEX

Summary

This Form 8-K filing by Flextronics International Ltd. (FLEX) on January 29, 2001, primarily serves to provide updated and retroactively adjusted consolidated financial statements following the completion of its mergers with Chatham Technologies, Inc. and Lightning Metal Specialties, Inc. on August 31, 2000. The company utilized the pooling-of-interests method for these mergers, a significant accounting treatment that combines the historical financial statements of the entities as if they had always been merged. Investors should note that the filing includes comprehensive consolidated financial statements as of March 31, 1999 and 2000, and for the three years ended March 31, 2000, along with unaudited condensed consolidated financial statements as of June 30, 2000. These statements provide a restated historical view that incorporates the acquisitions. Accompanying these financial statements are the selected consolidated financial data and Management's Discussion and Analysis (MD&A), offering critical insights into the company's financial performance and condition for the periods presented.

Key Highlights

  • 1Flextronics International Ltd. is providing updated consolidated financial statements as of and for periods ending March 31, 2000, and June 30, 2000.
  • 2The filing includes financial statements that retroactively reflect the mergers with Chatham Technologies, Inc. and Lightning Metal Specialties, Inc., completed on August 31, 2000.
  • 3The pooling-of-interests accounting method was used for the aforementioned mergers, which combines historical financial data of the entities.
  • 4Key financial documents filed include selected consolidated financial data (Exhibit 99.01) and Management's Discussion and Analysis (Exhibit 99.02).
  • 5Detailed consolidated financial statements for fiscal years ending March 31, 1999 and 2000, and for the three years ended March 31, 2000, are provided (Exhibit 99.03).
  • 6Unaudited condensed consolidated financial statements as of March 31, 2000, and June 30, 2000, are also included (Exhibit 99.04).
  • 7The filing includes consents from independent public accountants, Arthur Andersen LLP and Deloitte & Touche LLP.

Frequently Asked Questions

The primary purpose of this 8-K filing is to provide investors with updated and retroactively adjusted consolidated financial statements for Flextronics International Ltd. These statements incorporate the effects of the mergers with Chatham Technologies, Inc. and Lightning Metal Specialties, Inc., which were completed on August 31, 2000, and accounted for using the pooling-of-interests method.

The pooling-of-interests method combines the financial statements of the merging companies as if they had always been one entity. For investors, this means the historical financial data presented has been restated to include the results and balance sheets of Chatham and Lightning, providing a more continuous view of the combined company's performance prior to the merger date.

This filing includes several key financial documents: selected consolidated financial data, Management's Discussion and Analysis (MD&A) of financial condition and results of operations, detailed consolidated financial statements for the fiscal years ending March 31, 1999 and 2000, and unaudited condensed consolidated financial statements as of June 30, 2000. It also includes a financial statement schedule for Valuation and Qualifying Accounts.

The mergers with Chatham Technologies, Inc. and Lightning Metal Specialties, Inc. were completed on August 31, 2000. Their inclusion in the financial statements presented in this filing, via the pooling-of-interests method, means that the historical financial performance and position reflect the combined entities from prior periods, allowing for a more accurate comparison of trends and operational scale.