CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 2,691.3	$ 2,483.0
Short-term investments	300.0	0.0
Receivables, net	1,160.1	935.4
Inventories	2,242.0	2,111.8
Other current assets	358.6	382.1
Total current assets	6,752.0	5,912.3
Property, plant and equipment, net	4,361.4	4,401.5
Goodwill	1,587.9	1,577.6
Intangible assets, net	257.9	299.3
Deferred tax assets	729.9	600.8
ROU financing lease assets	40.5	42.4
Other assets	360.2	381.3
Total assets	14,089.8	13,215.2
Liabilities and Stockholders’ Equity
Accounts payable	574.5	725.6
Accrued expenses and other current liabilities	760.0	663.2
Current portion of financing lease liabilities	0.3	0.8
Current portion of long-term debt	0.0	794.0
Total current liabilities	1,334.8	2,183.6
Long-term debt	3,345.9	2,542.6
Deferred tax liabilities	37.6	38.7
Long-term financing lease liabilities	20.7	22.4
Other long-term liabilities	536.3	627.3
Total liabilities	5,275.3	5,414.6
Commitments and contingencies (Note 13)
ON Semiconductor Corporation stockholders’ equity:
Common stock ($0.01 par value, 1,250,000,000 shares authorized, 622,655,553 and 616,281,996 shares issued, 422,955,173 and 426,386,426 shares outstanding, respectively)	6.2	6.2
Additional paid-in capital	5,372.2	5,210.9
Accumulated other comprehensive loss	(62.4)	(45.2)
Accumulated earnings	8,120.9	6,548.1
Less: Treasury stock, at cost; 199,700,380 and 189,895,570 shares, respectively	(4,640.5)	(3,937.4)
Total ON Semiconductor Corporation stockholders’ equity	8,796.4	7,782.6
Non-controlling interest	18.1	18.0
Total stockholders' equity	8,814.5	7,800.6
Total liabilities and stockholders' equity	$ 14,089.8	$ 13,215.2