v3.26.1
Earnings Per Share and Equity (Tables)
 6 Months Ended
Jul. 03, 2026
Earnings Per Share [Abstract]  
Schedule of Net Income Per Share
Net income per share of common stock for calculating basic and diluted earnings per share was calculated as follows (in millions, except per share data):
Quarters EndedSix Months Ended
July 3, 2026July 4, 2025July 3, 2026July 4, 2025
Net income (loss) for diluted earnings per share of common stock$226.8 $170.3 $193.4 $(315.8)
Basic weighted-average shares of common stock outstanding390.3 414.6 392.2 418.0 
Dilutive effect of share-based awards2.4 0.3 2.2 — 
Dilutive effect of convertible notes and warrants11.7 — 7.1 — 
Diluted weighted-average shares of common stock outstanding404.4 414.9 401.5 418.0 
Net income (loss) per share of common stock attributable to ON Semiconductor Corporation:
Basic$0.58 $0.41 $0.49 $(0.76)
Diluted$0.56 $0.41 $0.48 $(0.76)
Schedule Conversion Prices that Offset the Dilutive Effect of the Convertible Notes Upon conversion, the convertible note hedges are expected to offset the dilutive effect of the Convertible Notes when the stock price is above the applicable conversion price, as shown below:
0.50% Notes
$103.87 
0% Notes
52.97 
2031 0% Notes
161.30 
Schedule of Warrants Dilutive Effect The warrants become dilutive when the stock price exceeds the applicable exercise price, as shown below:
0.50% Notes
$156.78 
0% Notes
74.34 
2031 0% Notes
211.54 
Schedule of Share Repurchase Program
Activity under the New Share Repurchase Program and the Share Repurchase Program during the quarters and six months ended July 3, 2026 and July 4, 2025, respectively, was as follows (in millions, except per share data):
Quarters EndedSix Months Ended
July 3, 2026July 4, 2025July 3, 2026July 4, 2025
Number of repurchased shares (1)
3.1 6.9 8.8 13.0 
Aggregate purchase price$331.9 $300.0 $677.5 $600.0 
Fees, commissions and excise tax2.8 3.0 5.8 5.6 
Total$334.7 $303.0 $683.3 $605.6 
Weighted-average purchase price per share (2)
$105.77 $43.26 $76.58 $46.11 

(1) None of these shares had been reissued or retired as of July 3, 2026, but may be reissued later.
(2) Exclusive of fees, commissions or other expenses.