$ON
ON Semiconductor Corp

2024 Q2 Form 10-Q Financial Statement

#000162828024018814 Filed on April 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $1.735B $1.863B
YoY Change -17.15% -4.95%
Cost Of Revenue $951.2M $1.009B
YoY Change -13.61% -3.18%
Gross Profit $784.0M $853.6M
YoY Change -21.08% -6.96%
Gross Profit Margin 45.18% 45.83%
Selling, General & Admin $153.6M $164.4M
YoY Change -3.27% 11.31%
% of Gross Profit 19.59% 19.26%
Research & Development $156.5M $150.0M
YoY Change 7.71% 8.38%
% of Gross Profit 19.96% 17.57%
Depreciation & Amortization $159.6M $154.9M
YoY Change 7.26% 6.83%
% of Gross Profit 20.36% 18.15%
Operating Expenses $395.5M $327.0M
YoY Change 25.12% -7.26%
Operating Profit $388.5M $526.6M
YoY Change -42.64% -6.78%
Interest Expense $11.90M $13.40M
YoY Change 56.58% -49.24%
% of Operating Profit 3.06% 2.54%
Other Income/Expense, Net $13.60M -$400.0K
YoY Change -1146.15% -97.89%
Pretax Income $402.1M $538.2M
YoY Change -41.0% -1.41%
Income Tax $63.70M $84.50M
% Of Pretax Income 15.84% 15.7%
Net Earnings $338.2M $453.0M
YoY Change -41.35% -1.88%
Net Earnings / Revenue 19.49% 24.32%
Basic Earnings Per Share $0.79 $1.06
Diluted Earnings Per Share $0.78 $1.04
COMMON SHARES
Basic Shares Outstanding 430.2M shares 427.3M shares
Diluted Shares Outstanding 433.2M shares 436.5M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.681B $2.614B
YoY Change 2.24% -3.26%
Cash & Equivalents $2.231B $2.614B
Short-Term Investments $450.0M
Other Short-Term Assets $532.2M $514.1M
YoY Change 33.32% 61.62%
Inventory $2.225B $2.147B
Prepaid Expenses
Receivables $887.2M $873.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.325B $6.149B
YoY Change 6.66% 7.57%
LONG-TERM ASSETS
Property, Plant & Equipment $4.373B $4.680B
YoY Change 2.08% 26.72%
Goodwill $1.578B $1.578B
YoY Change 0.0% 0.0%
Intangibles $275.0M $289.4M
YoY Change -15.72% -14.83%
Long-Term Investments
YoY Change
Other Assets $387.9M $787.5M
YoY Change -39.9% 83.4%
Total Long-Term Assets $7.334B $7.334B
YoY Change 7.34% 11.83%
TOTAL ASSETS
Total Short-Term Assets $6.325B $6.149B
Total Long-Term Assets $7.334B $7.334B
Total Assets $13.66B $13.48B
YoY Change 7.02% 9.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $617.7M $665.8M
YoY Change -31.93% -31.8%
Accrued Expenses $684.3M $678.1M
YoY Change 4.62% 1.82%
Deferred Revenue $112.0M
YoY Change 26.13%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $795.6M $795.1M
YoY Change -13.44% -14.15%
Total Short-Term Liabilities $2.098B $2.139B
YoY Change -15.43% -17.09%
LONG-TERM LIABILITIES
Long-Term Debt $2.546B $2.565B
YoY Change -0.7% 1.08%
Other Long-Term Liabilities $595.4M $598.6M
YoY Change -12.05% -4.79%
Total Long-Term Liabilities $3.141B $3.164B
YoY Change -3.07% -0.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.098B $2.139B
Total Long-Term Liabilities $3.141B $3.164B
Total Liabilities $5.300B $5.359B
YoY Change -8.28% -7.72%
SHAREHOLDERS EQUITY
Retained Earnings $7.339B $7.001B
YoY Change 35.85% 45.07%
Common Stock $6.200M $6.200M
YoY Change 1.64% 1.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.340B $8.124B
YoY Change
Total Liabilities & Shareholders Equity $13.66B $13.48B
YoY Change 7.02% 9.85%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $338.2M $453.0M
YoY Change -41.35% -1.88%
Depreciation, Depletion And Amortization $159.6M $154.9M
YoY Change 7.26% 6.83%
Cash From Operating Activities $362.2M $498.7M
YoY Change -7.32% 21.96%
INVESTING ACTIVITIES
Capital Expenditures $143.0M $233.9M
YoY Change -66.79% -27.25%
Acquisitions
YoY Change
Other Investing Activities -$447.9M -$1.400M
YoY Change -1050.96% -99.42%
Cash From Investing Activities -$590.9M -$235.3M
YoY Change 54.08% -58.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -152.7M -130.8M
YoY Change 70.42% 106.31%
NET CHANGE
Cash From Operating Activities 362.2M 498.7M
Cash From Investing Activities -590.9M -235.3M
Cash From Financing Activities -152.7M -130.8M
Net Change In Cash -381.4M 132.6M
YoY Change 363.43% -161.28%
FREE CASH FLOW
Cash From Operating Activities $362.2M $498.7M
Capital Expenditures $143.0M $233.9M
Free Cash Flow $219.2M $264.8M
YoY Change -650.75% 202.97%

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CY2024Q1 us-gaap Amortization Of Debt Discount Premium
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2700000 usd
CY2023Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
2900000 usd
CY2024Q1 us-gaap Share Based Compensation
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33000000.0 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
27700000 usd
CY2024Q1 us-gaap Tangible Asset Impairment Charges
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CY2023Q1 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
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CY2024Q1 on Reversalof Income Tax Valuation Allowance
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48600000 usd
CY2023Q1 on Reversalof Income Tax Valuation Allowance
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1500000 usd
CY2024Q1 us-gaap Other Noncash Income Expense
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CY2023Q1 us-gaap Other Noncash Income Expense
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CY2024Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
35700000 usd
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
198100000 usd
CY2024Q1 us-gaap Increase Decrease In Other Operating Assets
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CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
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CY2024Q1 us-gaap Increase Decrease In Accounts Payable
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3000000.0 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
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53500000 usd
CY2024Q1 us-gaap Increase Decrease In Accrued Liabilities
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CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
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CY2024Q1 us-gaap Increase Decrease In Other Operating Liabilities
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CY2023Q1 us-gaap Increase Decrease In Other Operating Liabilities
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33400000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
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408900000 usd
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CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2023Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2024Q1 on Increase Decrease In Deposit Payments Receipts For Purchase Of Fixed Assets
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11500000 usd
CY2023Q1 on Increase Decrease In Deposit Payments Receipts For Purchase Of Fixed Assets
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CY2024Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
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0 usd
CY2023Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
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CY2024Q1 us-gaap Payments To Acquire Businesses Gross
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CY2023Q1 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
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CY2024Q1 us-gaap Payments For Proceeds From Other Investing Activities
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1500000 usd
CY2023Q1 us-gaap Payments For Proceeds From Other Investing Activities
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CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2024Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
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7600000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
7300000 usd
CY2024Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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37500000 usd
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
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100000000.0 usd
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
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104000000.0 usd
CY2024Q1 us-gaap Proceeds From Issuance Of Debt
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0 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
1470000000 usd
CY2024Q1 on Proceeds From Reimbursement Of Debt Issuance Costs
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0 usd
CY2023Q1 on Proceeds From Reimbursement Of Debt Issuance Costs
ProceedsFromReimbursementOfDebtIssuanceCosts
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CY2024Q1 us-gaap Payments Of Financing Costs
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0 usd
CY2023Q1 us-gaap Payments Of Financing Costs
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4800000 usd
CY2024Q1 us-gaap Repayments Of Long Term Debt
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CY2023Q1 us-gaap Repayments Of Long Term Debt
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CY2024Q1 us-gaap Payments For Hedge Financing Activities
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0 usd
CY2023Q1 us-gaap Payments For Hedge Financing Activities
PaymentsForHedgeFinancingActivities
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CY2024Q1 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
0 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
242500000 usd
CY2024Q1 us-gaap Finance Lease Principal Payments
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900000 usd
CY2023Q1 us-gaap Finance Lease Principal Payments
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3600000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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100000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
131700000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2485000000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2933000000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2616700000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2716600000 usd
CY2024Q1 us-gaap Number Of Reportable Segments
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3 segment
CY2024Q1 us-gaap Number Of Operating Segments
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3 segment
CY2024Q1 us-gaap Fiscal Period Duration
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P89D
CY2023Q1 us-gaap Fiscal Period Duration
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P90D
CY2024Q1 us-gaap Use Of Estimates
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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-indent:27pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and the reported amount of revenue and expenses during the reporting period. Management evaluates these estimates and judgments on an ongoing basis and bases its estimates on experience, current and expected future conditions, third-party evaluations, and various other assumptions that management believes are reasonable under the circumstances. Significant estimates have been used by management in conjunction with the following: (i) calculation of future payouts for customer incentives and amounts subject to allowances and returns; (ii) valuation and obsolescence relating to inventories; (iii) measurement of valuation allowances against deferred tax assets and evaluations of uncertain tax positions; and (iv) testing for impairment of long-lived assets and goodwill. Additionally, during periods where it becomes applicable, significant estimates will be used by management in determining the assumptions used in business combinations. Actual results may differ from the estimates and assumptions used in the consolidated financial statements.</span></div>
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q1 us-gaap Revenue Remaining Performance Obligation
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CY2024Q1 us-gaap Revenue Remaining Performance Obligation Percentage
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LongTermSupplyAgreementsNonCancellableCapacityPaymentsMaturityTerm
P30D
CY2024Q1 us-gaap Contract With Customer Liability Revenue Recognized
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12100000 usd
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
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14800000 usd
CY2024Q1 us-gaap Number Of Reportable Segments
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3 segment
CY2024Q1 us-gaap Number Of Operating Segments
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3 segment
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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1862700000 usd
CY2024Q1 us-gaap Gross Profit
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CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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1959700000 usd
CY2023Q1 us-gaap Gross Profit
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CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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1862700000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q1 us-gaap Property Plant And Equipment Net
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CY2024Q1 us-gaap Goodwill
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CY2023Q4 us-gaap Goodwill Gross
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780800000 usd
CY2023Q4 us-gaap Goodwill
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CY2023Q4 us-gaap Inventory Raw Materials
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469300000 usd
CY2024Q1 us-gaap Inventory Work In Process
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CY2023Q4 us-gaap Inventory Work In Process
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CY2024Q1 us-gaap Inventory Finished Goods
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388000000.0 usd
CY2023Q4 us-gaap Inventory Finished Goods
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421400000 usd
CY2024Q1 us-gaap Inventory Net
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2147100000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
2111800000 usd
CY2024Q1 us-gaap Defined Benefit Plan Assets For Plan Benefits Noncurrent
DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent
16400000 usd
CY2024Q1 us-gaap Defined Benefit Pension Plan Current And Noncurrent Liabilities
DefinedBenefitPensionPlanCurrentAndNoncurrentLiabilities
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CY2024Q1 us-gaap Defined Benefit Plan Service Cost
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1300000 usd
CY2023Q1 us-gaap Defined Benefit Plan Service Cost
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CY2024Q1 us-gaap Defined Benefit Plan Interest Cost
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CY2023Q1 us-gaap Defined Benefit Plan Interest Cost
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CY2024Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
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CY2023Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
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CY2024Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
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1500000 usd
CY2023Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
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1600000 usd
CY2024Q1 us-gaap Operating Lease Cost
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12600000 usd
CY2023Q1 us-gaap Operating Lease Cost
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12400000 usd
CY2024Q1 us-gaap Variable Lease Cost
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CY2023Q1 us-gaap Variable Lease Cost
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CY2024Q1 us-gaap Short Term Lease Cost
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CY2023Q1 us-gaap Short Term Lease Cost
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CY2024Q1 us-gaap Lease Cost
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CY2023Q1 us-gaap Lease Cost
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CY2024Q1 us-gaap Operating Lease Liability Current
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CY2023Q4 us-gaap Operating Lease Liability Current
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CY2024Q1 us-gaap Operating Lease Liability Noncurrent
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CY2023Q4 us-gaap Operating Lease Liability Noncurrent
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CY2023Q4 us-gaap Operating Lease Liability
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CY2024Q1 us-gaap Operating Lease Right Of Use Asset
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CY2023Q4 us-gaap Operating Lease Right Of Use Asset
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CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2024Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2024Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.062
CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2024Q1 us-gaap Interest Paid Net
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24300000 usd
CY2023Q1 us-gaap Interest Paid Net
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CY2024Q1 us-gaap Income Taxes Paid Net
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CY2023Q1 us-gaap Income Taxes Paid Net
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CY2024Q1 us-gaap Operating Lease Payments
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CY2023Q1 us-gaap Operating Lease Payments
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CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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2614400000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2024Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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CY2023Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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CY2023Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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2933000000 usd
CY2024Q1 us-gaap Debt Instrument Carrying Amount
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CY2023Q4 us-gaap Debt Instrument Carrying Amount
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CY2024Q1 us-gaap Debt Instrument Unamortized Discount
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CY2023Q4 us-gaap Debt Instrument Unamortized Discount
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4200000 usd
CY2024Q1 us-gaap Deferred Finance Costs Net
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CY2023Q4 us-gaap Deferred Finance Costs Net
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39100000 usd
CY2024Q1 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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3338900000 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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3336600000 usd
CY2024Q1 us-gaap Long Term Debt Current
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794800000 usd
CY2023Q4 us-gaap Long Term Debt Current
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794000000.0 usd
CY2024Q1 us-gaap Long Term Debt Noncurrent
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2544100000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
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2542600000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
804900000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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0 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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1075000000 usd
CY2024Q1 on Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
1500000000 usd
CY2024Q1 us-gaap Long Term Debt
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CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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453000000.0 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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461700000 usd
CY2024Q1 us-gaap Interest On Convertible Debt Net Of Tax
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CY2023Q1 us-gaap Interest On Convertible Debt Net Of Tax
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CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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453000000.0 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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462100000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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428100000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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431900000 shares
CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2024Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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7600000 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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15200000 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
436500000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
448500000 shares
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.06
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.07
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.04
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.03
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000 shares
CY2024Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1300000 shares
CY2023Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1300000 shares
CY2024Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
100000000.0 usd
CY2023Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
104000000.0 usd
CY2024Q1 on Treasury Stock Fees Commissions And Excise Tax
TreasuryStockFeesCommissionsAndExciseTax
0 usd
CY2023Q1 on Treasury Stock Fees Commissions And Excise Tax
TreasuryStockFeesCommissionsAndExciseTax
0 usd
CY2024Q1 on Treasury Stock Value Acquired Cost Method Net Of Fees
TreasuryStockValueAcquiredCostMethodNetOfFees
100000000.0 usd
CY2023Q1 on Treasury Stock Value Acquired Cost Method Net Of Fees
TreasuryStockValueAcquiredCostMethodNetOfFees
104000000.0 usd
CY2024Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
78.57
CY2023Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
78.57
CY2024Q1 on Treasury Stock Shares Reissued Or Retired During Period
TreasuryStockSharesReissuedOrRetiredDuringPeriod
0 shares
CY2024Q1 on Payment Tax Withholding Share Based Payment Arrangement Before Adjustments
PaymentTaxWithholdingShareBasedPaymentArrangementBeforeAdjustments
37700000 usd
CY2023Q1 on Payment Tax Withholding Share Based Payment Arrangement Before Adjustments
PaymentTaxWithholdingShareBasedPaymentArrangementBeforeAdjustments
47600000 usd
CY2024Q1 on Common Stock Withheld Underlying Restricted Stock Units
CommonStockWithheldUnderlyingRestrictedStockUnits
500000 shares
CY2023Q1 on Common Stock Withheld Underlying Restricted Stock Units
CommonStockWithheldUnderlyingRestrictedStockUnits
600000 shares
CY2024Q1 us-gaap Minority Interest
MinorityInterest
18700000 usd
CY2024Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
700000 usd
CY2023Q4 us-gaap Minority Interest
MinorityInterest
18000000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
33000000.0 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
27700000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
6900000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
5800000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
26100000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
21900000 usd
CY2024Q1 on Outstanding Guarantees And Letters Of Credit
OutstandingGuaranteesAndLettersOfCredit
5800000 usd
CY2024Q1 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
900000 usd
CY2024Q1 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
2 action
CY2024Q1 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
1400000 usd
CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-1900000 usd
CY2024Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
2600000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
2000000 usd
CY2024Q1 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
3900000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
-2200000 usd
CY2024Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
4800000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-7000000.0 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
700000 usd
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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