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Acquisitions and Divestitures (Tables) | 12 Months Ended
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Dec. 31, 2016
Business Acquisition [Line Items] |
Schedule of Pro Forma Information | The following unaudited pro forma consolidated results of operations for the year ended December 31, 2014 have been prepared as if the acquisitions of Aptina and Truesense had occurred on January 1, 2013 and includes adjustments for depreciation expense, amortization of intangibles, and the effect of purchase accounting adjustments including the step-up of inventory (in millions, except per share data):
|  | December 31, 2014
Revenues |  | $ | 3,536.4 |
Gross profit |  | $ | 1,213.7 |
Net income attributable to ON Semiconductor Corporation |  | $ | 147.8 |
Net income per common share attributable to ON Semiconductor Corporation: |  |
Basic |  | $ | 0.34 |
Diluted |  | $ | 0.33 |
Fairchild [Member] |
Business Acquisition [Line Items] |
Acquisitions Schedule of Purchase Price Allocation | The following table presents the allocation of the purchase price of Fairchild for the assets acquired and liabilities assumed based on their fair values (in millions):
|  | Initial Estimate |  | Measurement Period Adjustments |  | Final Allocation
Cash and cash equivalents |  | $ | 255.0 |  |  | $ | — |  |  | $ | 255.0 |
Receivables |  | 227.3 |  |  | — |  |  | 227.3 |
Inventories |  | 342.3 |  |  | — |  |  | 342.3 |
Other current assets |  | 59.3 |  |  | 1.7 |  |  | 61.0 |
Property, plant and equipment |  | 813.5 |  |  | 112.3 |  |  | 925.8 |
Goodwill |  | 733.6 |  |  | (77.5 | ) |  | 656.1 |
Intangible assets (excluding IPRD) |  | 423.4 |  |  | (9.8 | ) |  | 413.6 |
In-process research and development |  | 102.4 |  |  | 31.8 |  |  | 134.2 |
Other non-current assets |  | 17.7 |  |  | (4.6 | ) |  | 13.1 |
Total assets acquired |  | 2,974.5 |  |  | 53.9 |  |  | 3,028.4 |
Accounts payable |  | 79.4 |  |  | — |  |  | 79.4 |
Other current liabilities |  | 160.1 |  |  | 8.0 |  |  | 168.1 |
Deferred tax liabilities |  | 167.6 |  |  | 45.9 |  |  | 213.5 |
Other non-current liabilities |  | 35.2 |  |  | — |  |  | 35.2 |
Total liabilities assumed |  | 442.3 |  |  | 53.9 |  |  | 496.2 |
Net assets acquired/purchase price |  | $ | 2,532.2 |  |  | $ | — |  |  | $ | 2,532.2 |
Schedule of Pro Forma Information | The following unaudited pro-forma consolidated results of operations for the years ended December 31 2016 and 2015 have been prepared as if the acquisition of Fairchild had occurred on January 1, 2015 and includes adjustments for depreciation expense, amortization of intangibles, interest expense from financing, and the effect of purchase accounting adjustments including the step-up of inventory, as well as $16.9 million in non-recurring acquisition advisory fees (in millions):
|  | Year Ended
|  | December 31, 2016 |  | December 31, 2015
Revenue |  | $ | 4,912.8 |  |  | $ | 4,866.0 |
Net Income |  | $ | 196.6 |  |  | $ | 58.2 |
Net income attributable to ON Semiconductor Corporation |  | $ | 194.2 |  |  | $ | 55.4 |
Net income per common share attributable to ON Semiconductor Corporation: |  |  |  |
Basic |  | $ | 0.47 |  |  | $ | 0.13 |
Diluted |  | $ | 0.46 |  |  | $ | 0.13 |
Aptina [Member] |
Business Acquisition [Line Items] |
Acquisitions Schedule of Purchase Price Allocation | The following table presents purchase price allocation for the 2014 acquisition of Aptina, including the effects of the measurement period adjustments, recorded in 2015 (in millions):
|  | Purchase Price Allocation
Cash and cash equivalents |  | $ | 30.3 |
Receivables |  | 53.2 |
Inventories |  | 84.8 |
Other current assets |  | 5.7 |
Property, plant and equipment |  | 36.3 |
Goodwill |  | 64.4 |
Intangible assets |  | 207.8 |
In-process research and development |  | 51.3 |
Other non-current assets |  | 2.3 |
Total assets acquired |  | 536.1 |
Accounts payable |  | 66.6 |
Other current liabilities |  | 49.7 |
Other non-current liabilities |  | 14.4 |
Total liabilities assumed |  | 130.7 |
Net assets acquired |  | $405.4
Truesense Imaging, Inc. [Member] |
Business Acquisition [Line Items] |
Acquisitions Schedule of Purchase Price Allocation | The following table presents the allocation of the purchase price recorded for the 2014 acquisition of Truesense, including the effects of the measurement period adjustments, recorded in 2015 (in millions):
|  | Purchase Price Allocation
Cash and cash equivalents |  | $ | 4.2 |
Receivables |  | 8.8 |
Inventories |  | 18.3 |
Other current assets |  | 3.6 |
Property, plant and equipment |  | 26.4 |
Goodwill |  | 23.5 |
Intangible assets |  | 35.5 |
In-process research and development |  | 10.2 |
Total assets acquired |  | 130.5 |
Accounts payable |  | 3.8 |
Other current liabilities |  | 6.0 |
Other non-current liabilities |  | 25.0 |
Total liabilities assumed |  | 34.8 |
Net assets acquired |  | $95.7

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