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Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Oct. 01, 2021
Oct. 02, 2020
Oct. 01, 2021
Oct. 02, 2020
Income Statement [Abstract]        
Revenue $ 1,742.1 $ 1,317.3 $ 4,893.7 $ 3,808.7
Cost of revenue (exclusive of amortization shown below) 1,021.3 876.1 3,011.6 2,590.5
Gross profit 720.8 441.2 1,882.1 1,218.2
Operating expenses:        
Research and development 154.5 156.1 494.4 483.2
Selling and marketing 68.4 65.3 223.4 207.7
General and administrative 75.7 62.2 221.3 196.3
Amortization of acquisition-related intangible assets 24.7 29.6 74.5 91.0
Restructuring, asset impairments and other charges, net (1.7) 9.0 58.3 58.0
Intangible asset impairment 0.0 0.0 2.9 1.3
Total operating expenses 321.6 322.2 1,074.8 1,037.5
Operating income 399.2 119.0 807.3 180.7
Other income (expense), net:        
Interest expense (31.9) (42.2) (98.4) (126.6)
Interest income 0.5 0.9 1.1 4.3
Loss on debt refinancing and prepayment 0.0 0.0 (26.2) 0.0
Gain on divestiture of business 10.2 0.0 10.2 0.0
Other income (expense) (5.8) 0.4 (2.4) (2.3)
Other income (expense), net (27.0) (40.9) (115.7) (124.6)
Income before income taxes 372.2 78.1 691.6 56.1
Income tax (provision) benefit (61.8) 83.1 (106.8) 90.5
Net income 310.4 161.2 584.8 146.6
Less: Net income attributable to non-controlling interest (0.7) (0.6) (1.1) (1.4)
Net income attributable to ON Semiconductor Corporation 309.7 160.6 583.7 145.2
Comprehensive income, net of tax:        
Net income 310.4 161.2 584.8 146.6
Foreign currency translation adjustments (0.3) 0.6 (2.8) 1.1
Effects of cash flow hedges 3.9 3.6 11.8 (10.2)
Other comprehensive income (loss), net of tax 3.6 4.2 9.0 (9.1)
Comprehensive income 314.0 165.4 593.8 137.5
Comprehensive income attributable to non-controlling interest (0.7) (0.6) (1.1) (1.4)
Comprehensive income attributable to ON Semiconductor Corporation $ 313.3 $ 164.8 $ 592.7 $ 136.1
Net income per share of common stock attributable to ON Semiconductor Corporation:        
Basic (in dollars per share) $ 0.72 $ 0.39 $ 1.38 $ 0.35
Diluted (in dollars per share) $ 0.70 $ 0.38 $ 1.32 $ 0.35
Weighted-average shares of common stock outstanding:        
Basic (in shares) 430.6 410.8 423.8 410.5
Diluted (in shares) 440.7 418.3 443.1 414.4