ON SEMICONDUCTOR CORP
For the period ended Jun 28, 2024. Filed Jul 29, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 28, 2024 · Filed Jul 29, 2024
ON$69.61+0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations and Comprehensive Income
(in millions, except per share data)
| Quarters Ended | Six Months Ended | |||
|---|---|---|---|---|
| June 28,2024 | June 30,2023 | June 28,2024 | June 30,2023 | |
| Revenue | $1,735.2 | $2,094.4 | $3,597.9 | $4,054.1 |
| Cost of revenue | 951.2 | 1,101.0 | 1,960.3 | 2,143.2 |
| Gross profit | 784.0 | 993.4 | 1,637.6 | 1,910.9 |
| Operating expenses: | ||||
| Research and development | 156.5 | 145.3 | 306.5 | 283.7 |
| Selling and marketing | 68.6 | 71.6 | 137.7 | 143.4 |
| General and administrative | 85.0 | 87.2 | 180.3 | 163.1 |
| Amortization of acquisition-related intangible assets | 12.9 | 12.0 | 25.5 | 27.0 |
| Restructuring, asset impairments and other charges, net | 72.5 | 2.6 | 73.9 | 54.1 |
| Total operating expenses | 395.5 | 318.7 | 723.9 | 671.3 |
| Operating income | 388.5 | 674.7 | 913.7 | 1,239.6 |
| Other income (expense), net: | ||||
| Interest expense | (15.7) | (16.4) | (31.3) | (42.8) |
| Interest income | 27.4 | 24.0 | 55.0 | 41.1 |
| Loss on debt prepayment | — | — | — | (13.3) |
| Gain (loss) on divestiture of business | — | 0.5 | — | (0.6) |
| Other income (expense) | 1.9 | (1.3) | 2.9 | 3.4 |
| Other income (expense), net | 13.6 | 6.8 | 26.6 | (12.2) |
| Income before income taxes | 402.1 | 681.5 | 940.3 | 1,227.4 |
| Income tax provision | (63.7) | (104.4) | (148.2) | (188.1) |
| Net income | 338.4 | 577.1 | 792.1 | 1,039.3 |
| Less: Net income attributable to non-controlling interest | (0.2) | (0.5) | (0.9) | (1.0) |
| Net income attributable to ON Semiconductor Corporation | $338.2 | $576.6 | $791.2 | $1,038.3 |
| Net income for diluted earnings per share of common stock (Note 7) | $338.2 | $577.0 | $791.2 | $1,039.1 |
| Net income per share of common stock attributable to ON Semiconductor Corporation: | ||||
| Basic | $0.79 | $1.34 | $1.85 | $2.40 |
| Diluted | $0.78 | $1.29 | $1.82 | $2.32 |
| Weighted-average shares of common stock outstanding: | ||||
| Basic | 429.1 | 431.7 | 428.6 | 431.8 |
| Diluted | 433.2 | 448.7 | 434.9 | 448.6 |
| Comprehensive income (loss), net of tax: | ||||
| Net income | $338.4 | $577.1 | $792.1 | $1,039.3 |
| Foreign currency translation adjustments | (2.0) | (3.0) | (4.3) | (2.7) |
| Effects of cash flow hedges and other adjustments | (2.6) | (4.8) | (7.3) | (11.5) |
| Other comprehensive income (loss), net of tax | (4.6) | (7.8) | (11.6) | (14.2) |
| Comprehensive income | 333.8 | 569.3 | 780.5 | 1,025.1 |
| Comprehensive income attributable to non-controlling interest | (0.2) | (0.5) | (0.9) | (1.0) |
| Comprehensive income attributable to ON Semiconductor Corporation | $333.6 | $568.8 | $779.6 | $1,024.1 |
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