$ON
ON Semiconductor Corp

2024 Q3 Form 10-Q Financial Statement

#000162828024033229 Filed on July 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q4
Revenue $1.762B $1.735B $2.018B
YoY Change -19.21% -17.15% -4.06%
Cost Of Revenue $962.5M $951.2M $1.076B
YoY Change -16.31% -13.61% -0.64%
Gross Profit $799.4M $784.0M $941.9M
YoY Change -22.44% -21.08% -7.7%
Gross Profit Margin 45.37% 45.18% 46.67%
Selling, General & Admin $160.9M $153.6M $156.1M
YoY Change -10.06% -3.27% -8.93%
% of Gross Profit 20.13% 19.59% 16.57%
Research & Development $151.0M $156.5M $150.2M
YoY Change 5.3% 7.71% 10.12%
% of Gross Profit 18.89% 19.96% 15.95%
Depreciation & Amortization $161.8M $159.6M $160.3M
YoY Change 4.12% 7.26% 20.35%
% of Gross Profit 20.24% 20.36% 17.02%
Operating Expenses $354.0M $395.5M $318.4M
YoY Change 3.0% 25.12% -1.7%
Operating Profit $445.4M $388.5M $623.5M
YoY Change -35.17% -42.64% -10.49%
Interest Expense $7.400M $11.90M $3.800M
YoY Change -54.32% 56.58% -120.65%
% of Operating Profit 1.66% 3.06% 0.61%
Other Income/Expense, Net $9.200M $13.60M -$5.000M
YoY Change -12.38% -1146.15% -140.65%
Pretax Income $454.6M $402.1M $610.9M
YoY Change -34.82% -41.0% -19.97%
Income Tax $51.90M $63.70M $47.50M
% Of Pretax Income 11.42% 15.84% 7.78%
Net Earnings $401.7M $338.2M $562.7M
YoY Change -31.06% -41.35% -6.88%
Net Earnings / Revenue 22.8% 19.49% 27.88%
Basic Earnings Per Share $0.94 $0.79
Diluted Earnings Per Share $0.93 $0.78 $1.28
COMMON SHARES
Basic Shares Outstanding 428.4M shares 430.2M shares 430.7M shares
Diluted Shares Outstanding 431.7M shares 433.2M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.770B $2.681B $2.483B
YoY Change 3.4% 2.24% -14.94%
Cash & Equivalents $2.470B $2.231B $2.483B
Short-Term Investments $300.0M $450.0M
Other Short-Term Assets $461.1M $532.2M $382.1M
YoY Change 26.95% 33.32% 8.77%
Inventory $2.243B $2.225B $2.112B
Prepaid Expenses
Receivables $1.071B $887.2M $935.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.545B $6.325B $5.912B
YoY Change 7.55% 6.66% 3.19%
LONG-TERM ASSETS
Property, Plant & Equipment $4.384B $4.373B $4.402B
YoY Change 1.6% 2.08% 27.55%
Goodwill $1.588B $1.578B $1.578B
YoY Change 0.65% 0.0% 0.0%
Intangibles $273.1M $275.0M $299.3M
YoY Change -12.69% -15.72% -16.79%
Long-Term Investments
YoY Change
Other Assets $367.3M $387.9M $381.3M
YoY Change -0.38% -39.9% -13.06%
Total Long-Term Assets $7.379B $7.334B $7.303B
YoY Change 2.54% 7.34% 16.86%
TOTAL ASSETS
Total Short-Term Assets $6.545B $6.325B $5.912B
Total Long-Term Assets $7.379B $7.334B $7.303B
Total Assets $13.92B $13.66B $13.22B
YoY Change 4.84% 7.02% 10.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $597.5M $617.7M $725.6M
YoY Change -34.43% -31.93% -14.85%
Accrued Expenses $734.3M $684.3M $663.2M
YoY Change 10.35% 4.62% -36.68%
Deferred Revenue $111.4M $112.0M $87.60M
YoY Change 33.09% 26.13% 44.79%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $796.4M $795.6M $794.0M
YoY Change -12.76% -13.44% 437.21%
Total Short-Term Liabilities $2.129B $2.098B $2.184B
YoY Change -14.68% -15.43% 5.93%
LONG-TERM LIABILITIES
Long-Term Debt $2.547B $2.546B $2.543B
YoY Change 0.24% -0.7% -16.52%
Other Long-Term Liabilities $578.6M $595.4M $627.3M
YoY Change -15.5% -12.05% 3.29%
Total Long-Term Liabilities $3.126B $3.141B $3.170B
YoY Change -3.1% -3.07% -13.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.129B $2.098B $2.184B
Total Long-Term Liabilities $3.126B $3.141B $3.170B
Total Liabilities $5.320B $5.300B $5.415B
YoY Change -7.92% -8.28% -6.18%
SHAREHOLDERS EQUITY
Retained Earnings $7.741B $7.339B $6.548B
YoY Change 29.33% 35.85% 50.03%
Common Stock $6.200M $6.200M $6.200M
YoY Change 1.64% 1.64% 1.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.584B $8.340B $7.783B
YoY Change
Total Liabilities & Shareholders Equity $13.92B $13.66B $13.22B
YoY Change 4.84% 7.02% 10.32%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q4
OPERATING ACTIVITIES
Net Income $401.7M $338.2M $562.7M
YoY Change -31.06% -41.35% -6.88%
Depreciation, Depletion And Amortization $161.8M $159.6M $160.3M
YoY Change 4.12% 7.26% 20.35%
Cash From Operating Activities $465.8M $362.2M $611.2M
YoY Change -17.79% -7.32% -16.42%
INVESTING ACTIVITIES
Capital Expenditures $172.2M $143.0M $390.5M
YoY Change -60.23% -66.79% 14.18%
Acquisitions
YoY Change
Other Investing Activities $140.3M -$447.9M $5.300M
YoY Change 443.8% -1050.96% -97.35%
Cash From Investing Activities -$31.90M -$590.9M -$385.2M
YoY Change -92.17% 54.08% 171.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -197.0M -152.7M -432.2M
YoY Change 94.47% 70.42% 233.23%
NET CHANGE
Cash From Operating Activities 465.8M 362.2M 611.2M
Cash From Investing Activities -31.90M -590.9M -385.2M
Cash From Financing Activities -197.0M -152.7M -432.2M
Net Change In Cash 236.9M -381.4M -206.2M
YoY Change 307.75% 363.43% -144.85%
FREE CASH FLOW
Cash From Operating Activities $465.8M $362.2M $611.2M
Capital Expenditures $172.2M $143.0M $390.5M
Free Cash Flow $293.6M $219.2M $220.7M
YoY Change 119.76% -650.75% -43.31%

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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>
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CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
87600000 usd
CY2024Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
185000000.0 usd
CY2023Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
216600000 usd
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
297000000.0 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
304200000 usd
us-gaap Number Of Operating Segments
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3 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
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RevenueFromContractWithCustomerExcludingAssessedTax
4054100000 usd
us-gaap Gross Profit
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CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1735200000 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1735200000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3597900000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3597900000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2094400000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2094400000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4054100000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4372500000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4401500000 usd
CY2024Q2 us-gaap Restructuring Costs
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52700000 usd
CY2024Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
15700000 usd
CY2024Q2 us-gaap Other Restructuring Costs
OtherRestructuringCosts
4100000 usd
CY2024Q2 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
72500000 usd
us-gaap Restructuring Costs
RestructuringCosts
53700000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
15700000 usd
us-gaap Other Restructuring Costs
OtherRestructuringCosts
4500000 usd
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
73900000 usd
CY2024Q2 us-gaap Goodwill Gross
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2358400000 usd
CY2024Q2 on Goodwill Accumulated Amortization
GoodwillAccumulatedAmortization
780800000 usd
CY2024Q2 on Goodwill Reallocation
GoodwillReallocation
0 usd
CY2024Q2 us-gaap Goodwill
Goodwill
1577600000 usd
CY2023Q4 us-gaap Goodwill Gross
GoodwillGross
2358400000 usd
CY2023Q4 on Goodwill Accumulated Amortization
GoodwillAccumulatedAmortization
780800000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
1577600000 usd
CY2024Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
444900000 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
469300000 usd
CY2024Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
1341800000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1221100000 usd
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
437900000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
421400000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
2224600000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
2111800000 usd
CY2024Q2 us-gaap Defined Benefit Plan Assets For Plan Benefits Noncurrent
DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent
15800000 usd
CY2024Q2 us-gaap Defined Benefit Pension Plan Current And Noncurrent Liabilities
DefinedBenefitPensionPlanCurrentAndNoncurrentLiabilities
64400000 usd
CY2024Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Current Liabilities
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities
1300000 usd
CY2023Q4 us-gaap Defined Benefit Pension Plan Current And Noncurrent Liabilities
DefinedBenefitPensionPlanCurrentAndNoncurrentLiabilities
50800000 usd
CY2023Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Current Liabilities
PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities
1400000 usd
CY2024Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1200000 usd
CY2023Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1200000 usd
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
2500000 usd
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
2400000 usd
CY2024Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1400000 usd
CY2023Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1600000 usd
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
2800000 usd
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
3200000 usd
CY2024Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
1200000 usd
CY2023Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
1200000 usd
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
2400000 usd
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
2400000 usd
CY2024Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
1400000 usd
CY2023Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
1600000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
2900000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
3200000 usd
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
15000000.0 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
12000000.0 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
27600000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
24300000 usd
CY2024Q2 us-gaap Variable Lease Cost
VariableLeaseCost
1400000 usd
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
1000000.0 usd
us-gaap Variable Lease Cost
VariableLeaseCost
2700000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
2800000 usd
CY2024Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
400000 usd
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
700000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
800000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
1200000 usd
CY2024Q2 us-gaap Lease Cost
LeaseCost
16800000 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
13700000 usd
us-gaap Lease Cost
LeaseCost
31100000 usd
us-gaap Lease Cost
LeaseCost
28300000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
31600000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
33000000.0 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
249400000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
231000000.0 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
281000000.0 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
264000000.0 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
265900000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
247300000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y7M6D
CY2024Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P17Y6M
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.052
CY2024Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.057
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
221700000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
392500000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
38500000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
8100000 usd
us-gaap Interest Paid Net
InterestPaidNet
31300000 usd
us-gaap Interest Paid Net
InterestPaidNet
41300000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
244900000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
227600000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
24200000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
22100000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2231000000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2483000000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2622200000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2919000000 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
2100000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
2000000.0 usd
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
11000000.0 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
14000000.0 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2233100000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2485000000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2633200000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2933000000 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3379900000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3379900000 usd
CY2024Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
3700000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
4200000 usd
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
34900000 usd
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
39100000 usd
CY2024Q2 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
3341300000 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
3336600000 usd
CY2024Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
795600000 usd
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
794000000.0 usd
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2545700000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2542600000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
804900000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1075000000 usd
CY2024Q2 on Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
1500000000 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
3379900000 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
338200000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
576600000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
791200000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1038300000 usd
CY2024Q2 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 usd
CY2023Q2 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
400000 usd
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 usd
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
800000 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
338200000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
577000000.0 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
791200000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1039100000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
429100000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
431700000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
428600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
431800000 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
400000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000.0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
600000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1200000 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
3700000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
16000000.0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
5700000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
15600000 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
433200000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
448700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
434900000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
448600000 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.79
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.85
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.40
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.78
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.29
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.82
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.32
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1200000 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
800000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000 shares
CY2024Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2100000 shares
CY2023Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
700000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
3400000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2000000.0 shares
CY2024Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
150000000.0 usd
CY2023Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
60000000.0 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
250000000.0 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
164100000 usd
CY2024Q2 on Treasury Stock Fees Commissions And Excise Tax
TreasuryStockFeesCommissionsAndExciseTax
100000 usd
CY2023Q2 on Treasury Stock Fees Commissions And Excise Tax
TreasuryStockFeesCommissionsAndExciseTax
300000 usd
on Treasury Stock Fees Commissions And Excise Tax
TreasuryStockFeesCommissionsAndExciseTax
100000 usd
on Treasury Stock Fees Commissions And Excise Tax
TreasuryStockFeesCommissionsAndExciseTax
300000 usd
CY2024Q2 on Treasury Stock Value Acquired Cost Method Net Of Fees
TreasuryStockValueAcquiredCostMethodNetOfFees
150100000 usd
CY2023Q2 on Treasury Stock Value Acquired Cost Method Net Of Fees
TreasuryStockValueAcquiredCostMethodNetOfFees
60300000 usd
on Treasury Stock Value Acquired Cost Method Net Of Fees
TreasuryStockValueAcquiredCostMethodNetOfFees
250100000 usd
on Treasury Stock Value Acquired Cost Method Net Of Fees
TreasuryStockValueAcquiredCostMethodNetOfFees
164400000 usd
CY2024Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
71.88
CY2023Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
86.49
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
74.41
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
81.29
on Treasury Stock Shares Reissued Or Retired During Period
TreasuryStockSharesReissuedOrRetiredDuringPeriod
0 shares
CY2024Q2 on Payment Tax Withholding Share Based Payment Arrangement Before Adjustments
PaymentTaxWithholdingShareBasedPaymentArrangementBeforeAdjustments
7400000 usd
on Payment Tax Withholding Share Based Payment Arrangement Before Adjustments
PaymentTaxWithholdingShareBasedPaymentArrangementBeforeAdjustments
45100000 usd
CY2024Q2 on Common Stock Withheld Underlying Restricted Stock Units
CommonStockWithheldUnderlyingRestrictedStockUnits
100000 shares
on Common Stock Withheld Underlying Restricted Stock Units
CommonStockWithheldUnderlyingRestrictedStockUnits
600000 shares
CY2023Q2 on Payment Tax Withholding Share Based Payment Arrangement Before Adjustments
PaymentTaxWithholdingShareBasedPaymentArrangementBeforeAdjustments
9800000 usd
on Payment Tax Withholding Share Based Payment Arrangement Before Adjustments
PaymentTaxWithholdingShareBasedPaymentArrangementBeforeAdjustments
57400000 usd
CY2023Q2 on Common Stock Withheld Underlying Restricted Stock Units
CommonStockWithheldUnderlyingRestrictedStockUnits
100000 shares
on Common Stock Withheld Underlying Restricted Stock Units
CommonStockWithheldUnderlyingRestrictedStockUnits
700000 shares
CY2024Q2 us-gaap Minority Interest
MinorityInterest
18900000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
900000 usd
CY2023Q4 us-gaap Minority Interest
MinorityInterest
18000000 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
32300000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
31600000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
65300000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
59300000 usd
CY2024Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
6800000 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
6600000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
13700000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
12500000 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
25500000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
25000000.0 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
51600000 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
46800000 usd
CY2024Q2 on Outstanding Guarantees And Letters Of Credit
OutstandingGuaranteesAndLettersOfCredit
6200000 usd
CY2024Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
900000 usd
CY2024Q2 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
2 action
CY2024Q2 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
200000 usd
CY2023Q2 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-700000 usd
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
1600000 usd
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-2700000 usd
CY2024Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
3100000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
2000000 usd
CY2024Q2 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
3900000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
600000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
12200000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-11600000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
1400000 usd
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001628280-24-033229.txt Edgar Link pending
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