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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Statement [Abstract]      
Revenue $ 8,253.0 $ 8,326.2 $ 6,739.8
Cost of revenue 4,369.5 4,249.0 4,025.5
Gross profit 3,883.5 4,077.2 2,714.3
Operating expenses:      
Research and development 577.3 600.2 655.0
Selling and marketing 279.1 287.9 293.6
General and administrative 362.4 343.2 304.8
Amortization of acquisition-related intangible assets 51.1 81.2 99.0
Restructuring, asset impairments and other charges, net 74.9 17.9 71.4
Goodwill and intangible asset impairment 0.0 386.8 2.9
Total operating expenses 1,344.8 1,717.2 1,426.7
Operating income 2,538.7 2,360.0 1,287.6
Other income (expense), net:      
Interest expense (74.8) (94.9) (130.4)
Interest income 93.1 15.5 1.4
Loss on debt refinancing and prepayment (13.3) (7.1) (29.0)
Gain (loss) on divestiture of businesses (0.7) 67.0 10.2
Other income (expense), net (7.2) 21.7 18.0
Other income (expense), net (2.9) 2.2 (129.8)
Income before income taxes 2,535.8 2,362.2 1,157.8
Income tax provision (350.2) (458.4) (146.6)
Net income 2,185.6 1,903.8 1,011.2
Less: Net income attributable to non-controlling interest (1.9) (1.6) (1.6)
Net income attributable to ON Semiconductor Corporation 2,183.7 1,902.2 1,009.6
Net income for diluted earnings per share of common stock (Note 10) $ 2,185.0 $ 1,904.2 $ 1,009.6
Net income per share of common stock attributable to ON Semiconductor Corporation:      
Basic (in dollars per share) $ 5.07 $ 4.39 $ 2.37
Diluted (in dollars per share) $ 4.89 $ 4.25 $ 2.27
Weighted-average shares of common stock outstanding:      
Basic (in shares) 430.7 433.2 425.7
Diluted (in shares) 446.8 448.2 443.8
Comprehensive income (loss), net of tax:      
Net income $ 2,185.6 $ 1,903.8 $ 1,011.2
Foreign currency translation adjustments (2.1) (6.0) (3.8)
Effects of cash flow hedges (19.9) 23.4 20.8
Other comprehensive income (loss), net of tax (22.0) 17.4 17.0
Comprehensive income 2,163.6 1,921.2 1,028.2
Comprehensive income attributable to non-controlling interest (1.9) (1.6) (1.6)
Comprehensive income attributable to ON Semiconductor Corporation $ 2,161.7 $ 1,919.6 $ 1,026.6