Lumens are a measure of
luminous flux, the total light output of a light source adjusted for the wavelength sensitivity of the human eye. In the flashlight context, this would be the total amount of light which escapes trough the optical window (front 'lens').
Lux are a measure of
illuminance, or how much light is falling on a surface such as a wall or light meter. In the flashlight context, lux readings are usually taken with a light meter placed 1 metre from the flashlight. Lux values give a rough indication of the effective illumination range of a light.
Lumens and lux cannot be converted.
Watts are a measure of power. In the flashlight context, wattage values usually mean the rated power of the emitter (bulb or LED) or the amount of electric power provided to the emitter. For example, a 3 watt LED flashlight is assumed to provide three watts of power to the LED.
Input power in watts can be approximately converted to light output in lumens if the emitter efficiency is known. Efficiency is rated in lumens per watt (lm/w). It naturally follows that a 3W LED with an efficiency of 100lm/w will produce 300lm of light. The flashlight will not emit 300lm, however, due to light losses in the optics. %20-%30 losses are to be expected between the emitter and optical window.
Light power can be measured in
radiometric terms using watts. This system of measurement, however, is generally used only for lasers and industrial, scientific and medial equipment. Radiometric power measurements are never used for flashlights.