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Earnings Per Share and Equity - (Tables) | 9 Months Ended
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Oct. 01, 2021
Earnings Per Share [Abstract] |
Summary of Earnings Per Share | Net income per share of common stock attributable to ON Semiconductor Corporation is calculated as follows (in millions, except per share data):
| Quarters Ended |  | Nine Months Ended
| October 1, 2021 |  | October 2, 2020 |  | October 1, 2021 |  | October 2, 2020
Net income attributable to ON Semiconductor Corporation | $ | 309.7 |  |  | $ | 160.6 |  |  | $ | 583.7 |  |  | $ | 145.2 |
Basic weighted-average shares of common stock outstanding | 430.6 |  |  | 410.8 |  |  | 423.8 |  |  | 410.5 |
Dilutive effect of share-based awards | 2.3 |  |  | 1.8 |  |  | 2.3 |  |  | 1.6 |
Dilutive effect of convertible notes and warrants | 7.8 |  |  | 5.7 |  |  | 17.0 |  |  | 2.3 |
Diluted weighted-average shares of common stock outstanding | 440.7 |  |  | 418.3 |  |  | 443.1 |  |  | 414.4 |
Net income per share of common stock attributable to ON Semiconductor Corporation: |  |  |  |  |  |  |
Basic | $ | 0.72 |  |  | $ | 0.39 |  |  | $ | 1.38 |  |  | $ | 0.35 |
Diluted | $ | 0.70 |  |  | $ | 0.38 |  |  | $ | 1.32 |  |  | $ | 0.35 |
Schedule of Share Repurchase Program | Activity under the Share Repurchase Program during the quarter and nine months ended October 1, 2021 and October 2, 2020 was as follows (in millions, except per share data):
| Quarters Ended |  | Nine Months Ended
| October 1, 2021 |  | October 2, 2020 |  | October 1, 2021 |  | October 2, 2020
Number of repurchased shares (1) | — |  |  | — |  |  | — |  |  | 3.6 |
Aggregate purchase price | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 65.3 |
Fees, commissions and other expenses | — |  |  | — |  |  | — |  |  | 0.1 |
Total cash used for share repurchases | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 65.4 |
Weighted-average purchase price per share (2) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 18.08 |
(1)None of these shares had been reissued or retired as of October 1, 2021, but may be reissued or retired at a later date. (2)Exclusive of fees, commissions and other expenses.

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