Earnings Per Share and Equity - (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Summary of Earnings Per Share

Net income per share of common stock for calculating basic and diluted earnings per share is calculated as follows (in millions, except per share data):

	Quarters Ended
	March 31, 2023		April 1, 2022
Net income for basic earnings per share of common stock	$	461.7	$	530.2
Add: Interest on 1.625% Notes	0.4		0.5
Net income for diluted earnings per share of common stock	$	462.1	$	530.7
Basic weighted-average shares of common stock outstanding	431.9		433.3
Dilutive effect of share-based awards	1.4		2.4
Dilutive effect of convertible notes and warrants	15.2		13.2
Diluted weighted-average shares of common stock outstanding	448.5		448.9
Net income per share of common stock attributable to ON Semiconductor Corporation:
Basic	$	1.07	$	1.22
Diluted	$	1.03	$	1.18