ON SEMICONDUCTOR CORP
For the period ended Sep 27, 2024. Filed Oct 28, 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.
Sep 27, 2024 · Filed Oct 28, 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 Cash Flows
(in millions)
| Nine Months Ended | ||
|---|---|---|
| September 27,2024 | September 29,2023 | |
| Cash flows from operating activities: | ||
| Net income | $1,194.8 | $1,622.2 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 476.3 | 449.2 |
| Loss on sale or disposal of fixed assets | 5.1 | 7.3 |
| Loss on divestiture of business | — | 0.7 |
| Loss on debt prepayment | — | 13.3 |
| Amortization of debt discount and issuance costs | 9.2 | 8.7 |
| Share-based compensation | 98.0 | 90.4 |
| Non-cash asset impairment charges | 15.7 | 12.7 |
| Change in deferred tax balances | (122.1) | (109.0) |
| Other | 7.0 | 1.5 |
| Changes in assets and liabilities: | ||
| Receivables | (145.5) | (137.4) |
| Inventories | (130.2) | (468.3) |
| Other assets | (17.4) | 13.6 |
| Accounts payable | (42.5) | (27.6) |
| Accrued expenses and other current liabilities | 38.3 | (183.2) |
| Other long-term liabilities | (60.0) | 72.2 |
| Net cash provided by operating activities | 1,326.7 | 1,366.3 |
| Cash flows from investing activities: | ||
| Purchase of property, plant and equipment | (549.1) | (1,185.1) |
| Proceeds from sale of property, plant and equipment | 0.6 | 2.8 |
| Deposits utilized for purchase of property, plant and equipment | 12.4 | 32.4 |
| Purchase of short-term investments | (750.0) | — |
| Proceeds from sale or maturity of short-term investments and available-for-sale securities | 450.0 | 33.5 |
| Purchase of a business, net of cash acquired | (20.5) | — |
| Payments related to acquisition of business | — | (236.3) |
| Other | (1.5) | — |
| Net cash used in investing activities | (858.1) | (1,352.7) |
| Cash flows from financing activities: | ||
| Proceeds for the issuance of common stock under the ESPP | 19.6 | 19.9 |
| Payment of tax withholding for RSUs | (48.3) | (62.4) |
| Repurchase of common stock | (450.0) | (264.0) |
| Issuance and borrowings under debt agreements | — | 1,845.0 |
| Reimbursement of debt issuance and other financing costs | — | 4.5 |
| Payment of debt issuance and other financing costs | — | (11.7) |
| Repayment of borrowings under debt agreements | — | (1,603.8) |
| Payment for purchase of bond hedges | — | (414.0) |
| Proceeds from issuance of warrants | — | 242.5 |
| Payment of financing lease obligations | (1.8) | (10.3) |
| Net cash used in financing activities | (480.5) | (254.3) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (0.7) | (1.5) |
| Net decrease in cash, cash equivalents and restricted cash | (12.6) | (242.2) |
| Cash, cash equivalents and restricted cash, beginning of period (Note 5) | 2,485.0 | 2,933.0 |
| Cash, cash equivalents and restricted cash, end of period (Note 5) | $2,472.4 | $2,690.8 |
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