$ON
ON Semiconductor Corp

2024 Q4 Form 10-Q Financial Statement

#000162828024043880 Filed on October 28, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $1.762B
YoY Change -19.21%
Cost Of Revenue $962.5M
YoY Change -16.31%
Gross Profit $799.4M
YoY Change -22.44%
Gross Profit Margin 45.37%
Selling, General & Admin $160.9M
YoY Change -10.06%
% of Gross Profit 20.13%
Research & Development $151.0M
YoY Change 5.3%
% of Gross Profit 18.89%
Depreciation & Amortization $161.8M
YoY Change 4.12%
% of Gross Profit 20.24%
Operating Expenses $354.0M
YoY Change 3.0%
Operating Profit $445.4M
YoY Change -35.17%
Interest Expense $7.400M
YoY Change -54.32%
% of Operating Profit 1.66%
Other Income/Expense, Net $9.200M
YoY Change -12.38%
Pretax Income $454.6M
YoY Change -34.82%
Income Tax $51.90M
% Of Pretax Income 11.42%
Net Earnings $401.7M
YoY Change -31.06%
Net Earnings / Revenue 22.8%
Basic Earnings Per Share $0.94
Diluted Earnings Per Share $0.93
COMMON SHARES
Basic Shares Outstanding 425.8M shares 428.4M shares
Diluted Shares Outstanding 431.7M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.770B
YoY Change 3.4%
Cash & Equivalents $2.470B
Short-Term Investments $300.0M
Other Short-Term Assets $461.1M
YoY Change 26.95%
Inventory $2.243B
Prepaid Expenses
Receivables $1.071B
Other Receivables $0.00
Total Short-Term Assets $6.545B
YoY Change 7.55%
LONG-TERM ASSETS
Property, Plant & Equipment $4.384B
YoY Change 1.6%
Goodwill $1.588B
YoY Change 0.65%
Intangibles $273.1M
YoY Change -12.69%
Long-Term Investments
YoY Change
Other Assets $367.3M
YoY Change -0.38%
Total Long-Term Assets $7.379B
YoY Change 2.54%
TOTAL ASSETS
Total Short-Term Assets $6.545B
Total Long-Term Assets $7.379B
Total Assets $13.92B
YoY Change 4.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $597.5M
YoY Change -34.43%
Accrued Expenses $734.3M
YoY Change 10.35%
Deferred Revenue $111.4M
YoY Change 33.09%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $796.4M
YoY Change -12.76%
Total Short-Term Liabilities $2.129B
YoY Change -14.68%
LONG-TERM LIABILITIES
Long-Term Debt $2.547B
YoY Change 0.24%
Other Long-Term Liabilities $578.6M
YoY Change -15.5%
Total Long-Term Liabilities $3.126B
YoY Change -3.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.129B
Total Long-Term Liabilities $3.126B
Total Liabilities $5.320B
YoY Change -7.92%
SHAREHOLDERS EQUITY
Retained Earnings $7.741B
YoY Change 29.33%
Common Stock $6.200M
YoY Change 1.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.584B
YoY Change
Total Liabilities & Shareholders Equity $13.92B
YoY Change 4.84%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $401.7M
YoY Change -31.06%
Depreciation, Depletion And Amortization $161.8M
YoY Change 4.12%
Cash From Operating Activities $465.8M
YoY Change -17.79%
INVESTING ACTIVITIES
Capital Expenditures $172.2M
YoY Change -60.23%
Acquisitions
YoY Change
Other Investing Activities $140.3M
YoY Change 443.8%
Cash From Investing Activities -$31.90M
YoY Change -92.17%
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
YoY Change 94.47%
NET CHANGE
Cash From Operating Activities 465.8M
Cash From Investing Activities -31.90M
Cash From Financing Activities -197.0M
Net Change In Cash 236.9M
YoY Change 307.75%
FREE CASH FLOW
Cash From Operating Activities $465.8M
Capital Expenditures $172.2M
Free Cash Flow $293.6M
YoY Change 119.76%

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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; (iv) testing for impairment of long-lived assets and goodwill; and (v) 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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us-gaap Net Income Loss Available To Common Stockholders Basic
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IncrementalCommonSharesAttributableToConversionOfDebtSecurities
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us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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us-gaap Treasury Stock Shares Acquired
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us-gaap Stock Repurchased During Period Value
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us-gaap Stock Repurchased During Period Value
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CY2024Q3 on Treasury Stock Fees Commissions And Excise Tax
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CY2023Q3 on Treasury Stock Fees Commissions And Excise Tax
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TreasuryStockFeesCommissionsAndExciseTax
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CY2024Q3 on Treasury Stock Value Acquired Cost Method Net Of Fees
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CY2024Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
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us-gaap Treasury Stock Acquired Average Cost Per Share
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CY2024Q3 on Payment Tax Withholding Share Based Payment Arrangement Before Adjustments
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us-gaap Income Loss From Equity Method Investments
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2024Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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CY2024Q3 us-gaap Foreign Currency Transaction Gain Loss Realized
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us-gaap Foreign Currency Transaction Gain Loss Realized
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us-gaap Foreign Currency Transaction Gain Loss Realized
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
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CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
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