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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2023
Apr. 01, 2022
Income Statement [Abstract]    
Revenue $ 1,959.7 $ 1,945.0
Cost of revenue 1,042.2 983.7
Gross profit 917.5 961.3
Operating expenses:    
Research and development 138.4 156.8
Selling and marketing 71.8 71.1
General and administrative 75.9 77.9
Amortization of acquisition-related intangible assets 15.0 21.3
Restructuring, asset impairments and other charges, net 51.5 (13.0)
Total operating expenses 352.6 314.1
Operating income 564.9 647.2
Other income (expense), net:    
Interest expense (26.4) (21.6)
Interest income 17.1 0.4
Loss on debt prepayment (13.3) 0.0
Loss on divestiture of business (1.1) 0.0
Other income 4.7 2.1
Other income (expense), net (19.0) (19.1)
Income before income taxes 545.9 628.1
Income tax provision (83.7) (97.1)
Net income 462.2 531.0
Less: Net income attributable to non-controlling interest (0.5) (0.8)
Net income attributable to ON Semiconductor Corporation 461.7 530.2
Net income for diluted earnings per share of common stock $ 462.1 $ 530.7
Net income per share of common stock attributable to ON Semiconductor Corporation:    
Basic (in dollars per share) $ 1.07 $ 1.22
Diluted (in dollars per share) $ 1.03 $ 1.18
Weighted-average shares of common stock outstanding:    
Basic (in shares) 431.9 433.3
Diluted (in shares) 448.5 448.9
Comprehensive income (loss), net of tax:    
Net income $ 462.2 $ 531.0
Foreign currency translation adjustments 0.3 (2.4)
Effects of cash flow hedges and other adjustments (6.7) 16.6
Other comprehensive income (loss), net of tax (6.4) 14.2
Comprehensive income 455.8 545.2
Comprehensive income attributable to non-controlling interest (0.5) (0.8)
Comprehensive income attributable to ON Semiconductor Corporation $ 455.3 $ 544.4