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Earnings Per Share and Equity - (Tables)

9 Months Ended

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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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

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Tabular disclosure of treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock.

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