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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 29, 2017	Nov. 01, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	ON Semiconductor Corporation
Entity Central Index Key	0001097864
Current Fiscal Year End	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 29, 2017
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2017
Amendment Flag	false
Entity Common Stock, Shares Outstanding		424,162,250

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 29, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents	$ 901.2	$ 1,028.1
Receivables, net	695.6	629.8
Inventories	1,029.0	1,030.2
Other current assets	189.6	181.0
Total current assets	2,815.4	2,869.1
Property, plant and equipment, net	2,238.2	2,159.1
Goodwill	916.9	924.7
Intangible assets, net	662.5	762.1
Deferred tax assets	148.8	138.9
Other assets	79.5	70.5
Total assets	6,861.3	6,924.4
Liabilities, Non-Controlling Interest and Stockholders’ Equity
Accounts payable	590.3	434.0
Accrued expenses	580.5	405.0
Deferred income on sales to distributors	0.0	109.8
Current portion of long-term debt	258.5	553.8
Total current liabilities	1,429.3	1,502.6
Long-term debt	2,684.4	3,068.5
Deferred tax liabilities	309.1	288.9
Other long-term liabilities	203.1	186.5
Total liabilities	4,625.9	5,046.5
Commitments and contingencies (Note 10)
2.625% Notes, Series B - Redeemable conversion feature	0.0	32.9
ON Semiconductor Corporation stockholders’ equity:
Common stock ($0.01 par value, 1,250,000,000 and 750,000,000 shares authorized, 549,490,124 and 542,317,788 issued, 422,898,064 and 418,941,713 outstanding, respectively)	5.5	5.4
Additional paid-in capital	3,557.1	3,473.3
Accumulated other comprehensive loss	(43.8)	(50.2)
Accumulated deficit	(178.4)	(527.3)
Less: Treasury stock, at cost: 126,592,060 and 123,376,075 shares, respectively	(1,128.0)	(1,078.0)
Total ON Semiconductor Corporation stockholders’ equity	2,212.4	1,823.2
Non-controlling interest in consolidated subsidiary	23.0	21.8
Total stockholders' equity	2,235.4	1,845.0
Total liabilities and stockholders' equity	$ 6,861.3	$ 6,924.4

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 29, 2017	Dec. 31, 2016
Stockholders' Equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,250,000,000	750,000,000
Common stock, shares issued (in shares)	549,490,124	542,317,788
Common stock, shares outstanding (in shares)	422,898,064	418,941,713
Treasury stock, shares (in shares)	126,592,060	123,376,075
2.625% Notes, Series B
Stockholders' Equity:
Debt instrument, interest rate (as a percent)	2.625%	2.625%

Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2017	Sep. 30, 2016	Sep. 29, 2017	Sep. 30, 2016
Income Statement [Abstract]
Revenues	$ 1,390.9	$ 950.9	$ 4,165.6	$ 2,645.9
Cost of revenues (exclusive of amortization shown below)	866.7	621.9	2,646.0	1,733.5
Gross profit	524.2	329.0	1,519.6	912.4
Operating expenses:
Research and development	150.9	111.5	436.4	312.5
Selling and marketing	78.6	56.7	235.6	158.6
General and administrative	68.9	67.6	213.9	158.1
Amortization of acquisition-related intangible assets	37.3	24.7	95.0	71.9
Restructuring, asset impairments and other, net	9.7	21.8	16.1	28.7
Intangible asset impairment	1.5	0.0	7.7	2.2
Total operating expenses	346.9	282.3	1,004.7	732.0
Operating income	177.3	46.7	514.9	180.4
Other (expense) income, net:
Interest expense	(34.9)	(46.7)	(108.0)	(104.4)
Interest income	0.7	1.4	1.8	3.8
Gain on divestiture of business	12.5	92.2	12.5	92.2
Licensing income	21.5	0.0	45.4	0.0
Loss on debt refinancing and prepayment	(6.7)	(6.3)	(32.9)	(6.3)
Other expense	(2.1)	0.0	(7.2)	(3.3)
Other (expense) income, net	(9.0)	40.6	(88.4)	(18.0)
Income before income taxes	168.3	87.3	426.5	162.4
Income tax provision	(59.4)	(76.7)	(144.5)	(89.6)
Net income	108.9	10.6	282.0	72.8
Less: Net income attributable to non-controlling interest	(0.2)	(0.5)	(1.2)	(1.6)
Net income attributable to ON Semiconductor Corporation	108.7	10.1	280.8	71.2
Comprehensive income, net of tax:
Net income	108.9	10.6	282.0	72.8
Foreign currency translation adjustments	(0.2)	0.8	6.9	3.6
Effects of cash flow hedges	0.2	0.0	(0.5)	0.1
Other comprehensive income, net of tax	0.0	0.8	6.4	3.7
Comprehensive income	108.9	11.4	288.4	76.5
Comprehensive income attributable to non-controlling interest	(0.2)	(0.5)	(1.2)	(1.6)
Comprehensive income attributable to ON Semiconductor Corporation	$ 108.7	$ 10.9	$ 287.2	$ 74.9
Net income per common share attributable to ON Semiconductor Corporation:
Basic (in dollars per share)	$ 0.26	$ 0.02	$ 0.67	$ 0.17
Diluted (in dollars per share)	$ 0.25	$ 0.02	$ 0.66	$ 0.17
Weighted-average common shares outstanding:
Basic (in shares)	422.2	415.8	421.0	414.4
Diluted (in shares)	427.5	419.8	426.5	417.6

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 29, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net income	$ 282.0	$ 72.8
Adjustments to reconcile net income to net cash provided by operating activities and other adjustments:
Depreciation and amortization	358.5	244.1
Gain on divestiture of business	(12.5)	(92.2)
Loss on sale or disposal of fixed assets	2.8	0.6
Amortization of debt discount and issuance costs	12.2	7.4
Loss on debt refinancing and prepayment	32.9	6.3
Payments for term debt modification	(2.4)	(26.4)
Write-down of excess inventories	56.8	40.1
Non-cash share-based compensation expense	52.7	41.9
Non-cash interest on convertible notes	21.9	19.6
Non-cash asset impairment charges	7.3	0.0
Non-cash intangible asset impairment charges	7.7	2.2
Change in deferred taxes	96.1	65.5
Other	2.6	(2.7)
Changes in assets and liabilities (exclusive of the impact of acquisitions and divestitures):
Receivables	(64.6)	(9.1)
Inventories	(56.1)	(33.7)
Other assets	(51.9)	(23.6)
Accounts payable	59.8	28.4
Accrued expenses	174.7	3.4
Deferred income on sales to distributors	(109.8)	10.1
Other long-term liabilities	(0.8)	(2.9)
Net cash provided by operating activities	869.9	351.8
Cash flows from investing activities:
Purchases of property, plant and equipment	(211.8)	(160.8)
Proceeds from divestiture of business, net of cash transferred	20.0	104.0
Proceeds from sales of property, plant and equipment	2.1	0.4
Deposits (made) utilized for purchases of property, plant and equipment	(2.1)	0.9
Purchase of businesses, net of cash acquired	(0.8)	(2,277.2)
Cash placed in escrow	0.0	(67.7)
Cash received from escrow	0.0	23.8
Purchases of held-to-maturity securities	(1.6)	0.0
Other	0.3	1.8
Net cash used in investing activities	(193.9)	(2,374.8)
Cash flows from financing activities:
Proceeds from issuance of common stock under the ESPP	11.4	10.9
Proceeds from exercise of stock options	10.9	5.1
Payments of tax withholding for restricted shares	(25.0)	(10.4)
Repurchase of common stock	(25.0)	0.0
Proceeds from debt issuance	701.2	2,581.9
Payments of debt issuance and other financing costs	0.0	(6.5)
Repayment of long-term debt	(1,411.6)	(287.6)
Purchase of convertible note hedges	(144.7)	0.0
Proceeds from issuance of warrants	85.2	0.0
Payment of capital lease obligations	(7.7)	(12.2)
Dividend to non-controlling shareholder of consolidated subsidiary	0.0	(1.9)
Net cash provided by (used in) financing activities	(805.3)	2,279.3
Effect of exchange rate changes on cash and cash equivalents	2.4	6.6
Net increase (decrease) in cash and cash equivalents	(126.9)	262.9
Cash and cash equivalents, beginning of period	1,028.1	617.6
Cash and cash equivalents, end of period	$ 901.2	$ 880.5

Background and Basis of Presentation	9 Months Ended
Background and Basis of Presentation	Sep. 29, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background and Basis of Presentation	Note 1: Background and Basis of Presentation ON Semiconductor Corporation, together with its wholly-owned and majority-owned subsidiaries ("ON Semiconductor" or the "Company"), uses a thirteen-week fiscal quarter accounting period for the first three fiscal quarters of each year, with the third quarter of 2017 having ended on September 29, 2017, and each fiscal year ending on December 31. The quarter ended September 29, 2017 and September 30, 2016 each contained 91 days. The nine months ended September 29, 2017 and September 30, 2016 contained 272 and 274 days, respectively. As of September 29, 2017, the Company was organized into the following three operating and reporting segments: Power Solutions Group, Analog Solutions Group and Image Sensor Group. Additional details on the Company’s reportable segments are included in Note 16: “Segment Information.” The accompanying unaudited financial statements as of and for the quarter and nine months ended September 29, 2017 have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") for unaudited interim financial information. Accordingly, the unaudited financial statements do not include all of the information and footnotes required by GAAP for audited financial statements. The balance sheet as of December 31, 2016 was derived from the Company's audited financial statements but does not include all disclosures required by GAAP for audited financial statements. In the opinion of the Company's management, the interim information includes all adjustments, which includes normal recurring adjustments, necessary for a fair statement of the results for the interim periods. The footnote disclosures related to the interim financial information included herein are also unaudited. Such financial information should be read in conjunction with the consolidated financial statements and related notes thereto for the year ended December 31, 2016 included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2016, filed with the SEC on February 28, 2017 (the “2016 Form 10-K”). Financial results for interim periods are not necessarily indicative of the results of operations that may be expected for a full fiscal year. Revenue Recognition Policy The Company generates revenues from sales of its semiconductor products to OEMs, electronic manufacturing service providers and distributors. The Company also generates revenue, to a much lesser extent, from manufacturing and design services provided to customers. Revenue is recognized when persuasive evidence of an arrangement exists, title and risk of loss pass to the customer (generally upon shipment), the price is fixed or determinable and collectability is reasonably assured. Revenues are recorded net of provisions for related sales returns and allowances. Prior to the first quarter of 2017, for products sold to distributors who are entitled to returns and allowances (generally referred to as “ship and credit rights”), the Company recognized the related revenues and cost of revenues when it was informed by the distributor that it had resold the products to the end-user. This was due to the Company’s inability to reliably estimate up front the effects of the returns and allowances with these distributors for sales originating through the ON Semiconductor systems and processes. Legacy systems and processes of Fairchild Semiconductor International, Inc. (“Fairchild”) enable the Company to estimate up front the effects of returns and allowances provided to these distributors and thereby record the net revenues at the time of sale related to a legacy Fairchild system and process. The Company acquired Fairchild on September 19, 2016. When the company adopts ASU 2014-09, ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20 (see Note 2: “Recent Accounting Pronouncements”), one of the more significant impacts will be that it will not be permitted to defer revenue until sale by the distributor to the end customer, but rather, will be required to estimate the effects of returns and allowances provided to certain distributors and record revenue at the time of sale to the distributor. In anticipation of the adoption of the new standards, the Company had developed its internal systems, processes and controls for making the required estimates on the sales to these distributors. As a result of these process changes, during the first quarter of 2017, the Company was able to reliably estimate upfront the effects of returns and allowances and record revenues at the time of sales to these distributors. As a result of this change, the Company recognized $155.1 million in revenue during the first quarter of 2017. The impact of this change resulted in an increase of $59.0 million to income before income taxes, or $0.09 per basic and diluted share, for the first quarter of 2017 and for the nine months ended September 29, 2017. Additionally, the Company recorded accruals for the estimated returns from the distributors, which decreased revenues by $8.1 million and income before income taxes by $5.3 million for the first quarter of 2017 and for the nine months ended September 29, 2017. Although payment terms vary, most distributor agreements require payment within 30 days. Sales returns and allowances are estimated based on historical experience. The Company’s OEM customers do not have the right to return products, other than pursuant to the provisions of the Company’s standard warranty. Sales to distributors, however, are typically made pursuant to agreements that provide return rights with respect to discontinued or slow-moving products. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related revenues are recognized, and are netted against revenues. The Company reviews warranty and related claims activities and records provisions, as necessary. Freight and handling costs are included in cost of revenues and are recognized as period expense when incurred. Taxes assessed by government authorities on revenue-producing transactions, including value-added and excise taxes, are presented on a net basis (excluded from revenues) in the statement of operations. Use of Estimates 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 revenues and expenses during the reporting period. Significant estimates have been used by management in conjunction with the following: (i) estimates of future payouts for customer incentives and estimates of amounts subject to allowances, returns and warranties; (ii) measurement of valuation allowances relating to inventories and trade receivables; (iii) future cash flows used to assess and test for impairment of goodwill and long-lived assets, if applicable; (iv) assumptions surrounding future pension obligations; (v) fair values of share-based compensation and of financial instruments (including derivative financial instruments); (vi) measurement of valuation allowances against deferred tax assets and evaluations of uncertain tax positions; and (vii) estimates and assumptions used in connection with business combinations. Actual results could differ from these estimates.

Recent Accounting Pronouncements	9 Months Ended
Recent Accounting Pronouncements	Sep. 29, 2017
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Note 2: Recent Accounting Pronouncements ASUs Adopted: ASU No 2017-04 - Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment ('ASU 2017-04') In January 2017, the FASB issued ASU 2017-04, which simplifies the accounting for goodwill impairment. The guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain largely unchanged. The amendment is effective for calendar year-end SEC filers in 2020, and early adoption is permitted. The Company early adopted ASU 2017-04 during the first quarter of 2017. The adoption of this standard did not impact the Company's financial statements. ASU No. 2016-09 - Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting ('ASU 2016-09') In March 2016, the FASB issued ASU 2016-09, which is intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact, classification on the statement of cash flows and forfeitures. The amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption was permitted. ASU 2016-09, which the Company adopted as of the first quarter of 2017, requires that excess tax benefits and tax deficiencies (including tax benefits of dividends on share-based payment awards) be recognized as income tax expense or benefit in the income statement. The tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. Excess tax benefits should be recognized regardless of whether the benefit reduces taxes payable in the current period. Previously, the Company followed the guidance that the tax benefit and credit to APIC for a windfall tax benefit should not be recorded until the deduction reduces income taxes payable. The Company has been historically in a net taxable loss. Therefore, the windfall tax benefit has not reduced income taxes payable. The new guidance requires all excess tax benefits that were not previously recognized because the related tax deduction had not reduced current taxes payable to be recorded on a modified retrospective basis through a cumulative effect adjustment to retained earnings as of the beginning of the period in which the new guidance was adopted. The financial statement impact of this change resulted in $68.1 million being recorded as a credit to retained earnings as of January 1, 2017. On a prospective basis, the impact of windfalls and shortfalls will be recorded to income tax expense on a discrete basis. The Company will continue to classify employee taxes paid on the statement of cash flows when ON Semiconductor withholds shares for tax-withholding purposes as a financing activity. The Company will continue to estimate forfeitures as part of share based compensation expense recognition. ASU No. 2015-11 - Inventory (Topic 330): Simplifying the Measurement of Inventory ('ASU 2015-11') In July 2015, the FASB issued ASU 2015-11, which requires that an entity should measure in-scope inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption was permitted. The Company adopted ASU 2015-11 during the first quarter of 2017. The adoption of this standard did not have a material impact on the financial statements. ASUs Pending Adoption: ASU No. 2017-12 - Derivatives and Hedging (topic 815): Targeted Improvements to Accounting for Hedging Activities ('ASU 2017-12') In August 2017, the FASB issued ASU No. 2017-12 to better align hedge accounting with risk management strategies, and as a result, more hedging strategies will be eligible for hedge accounting. Public business entities will have until the end of the first quarter in which a hedge is designated to perform an initial assessment of a hedge’s effectiveness. After initial qualification, the new guidance permits a qualitative effectiveness assessment for certain hedges instead of a quantitative test, if the company can reasonably support an expectation of high effectiveness throughout the term of the hedge. An initial quantitative test to establish that the hedge relationship is highly effective is still required. The amendments are effective for fiscal years beginning after December 15, 2018. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of ASU 2017-12 may have on its consolidated financial statements. ASU No. 2017-09 - Scope of Modification Accounting ('ASU 2017-09') In May 2017, the FASB issued ASU No. 2017-09 to reduce diversity in practice and provide clarity regarding existing guidance in ASC 718, “Stock Compensation.” The amendments clarify that an entity should apply modification accounting in response to a change in the terms and conditions of an entity’s share-based payment awards unless three newly specified criteria are met. The amendments are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company does not anticipate the adoption of ASU 2017-09 to have a material impact on its consolidated financial statements. ASU No 2017-07 - Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost ('ASU 2017-07') In March 2017, the FASB issued ASU 2017-07 primarily to improve the presentation of net periodic pension cost and net periodic postretirement benefit cost. The guidance will require the net benefit cost to be split in the income statement. The service cost component will be included in operating income. The other components, including amortization of past service costs or credits, and settlement and curtailments amounts, will be reported separately outside of operating income. The amendment is effective for fiscal years beginning after December 15, 2017. Early adoption is permitted at the beginning of an annual period (in the first interim period) for which financial statements have not yet been issued. The Company does not anticipate the adoption of ASU 2017-07 to have a material impact on its consolidated financial statements. ASU No. 2016-18 - Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force) ('ASU 2016-18') In November 2016, the FASB issued ASU 2016-18, which requires entities to include in their cash and cash-equivalent balances in the statement of cash flows those amounts that are deemed to be restricted cash and restricted cash equivalents. The ASU does not define the terms “restricted cash” and “restricted cash equivalents.” The amendments are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company does not anticipate the adoption of ASU 2016-18 to have a material impact on its consolidated financial statements. ASU No. 2016-16 - Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory ('ASU 2016-16') In October 2016, the FASB issued ASU 2016-16, which eliminates the exception for all intra-entity sales of assets other than inventory. As a result, a reporting entity would recognize the tax expense from the sale of the asset in the seller’s tax jurisdiction when the transfer occurs, even though the pre-tax effects of that transaction are eliminated in consolidation. Any deferred tax asset that arises in the buyer’s jurisdiction would also be recognized at the time of the transfer. The new guidance does not apply to intra-entity transfers of inventory. The income tax consequences from the sale of inventory from one member of a consolidated entity to another will continue to be deferred until the inventory is sold to a third party. The amendments are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company does not anticipate the adoption of ASU 2016-16 to have a material impact on its consolidated financial statements. ASU No. 2016-15 - Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments ('ASU 2016-15') In August 2016, the FASB issued ASU 2016-15, which changes how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company does not anticipate the adoption of ASU 2016-15 to have a material impact on its consolidated financial statements. ASU No. 2016-02 - Leases (Topic 842) ('ASU 2016-02') In February 2016, the FASB issued ASU 2016-02, which amends the accounting treatment for leases. The amendments are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Lessees (for capital and operating leases) and lessors (for sales-type leases, direct financing leases, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of ASU 2016-02 may have on its consolidated financial statements. ASU No. 2014-09 - Revenue from Contracts with Customers (Topic 606) ('ASU 2014-09'), ASU No. 2015-14 - Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date ('ASU 2015-14'), ASU No. 2016-08 - Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations ('ASU 2016-08'), ASU No. 2016-10 - Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing ('ASU 2016-10') ASU No. 2016-12 - Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients ('ASU 2016-12') and ASU No. 2016-20 - Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers” ('ASU 2016-20') In May 2014, the FASB issued ASU 2014-09, which applies to any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of non-financial assets, unless those contracts are within the scope of other standards, superseding the existing revenue recognition requirements in ASC Topic 605 “Revenue Recognition.” Pursuant to ASU 2014-09, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange, as applied through a multi-step process to achieve that core principle. Subsequently, the FASB approved a deferral included in ASU 2015-14 that permits public entities to apply the amendments in ASU 2014-09 for annual reporting periods beginning after December 15, 2017, including interim reporting periods therein, and that would also permit public entities to elect to adopt the amendments as of the original effective date as applicable to reporting periods beginning after December 15, 2016. The new guidance allows for the amendment to be applied either retrospectively to each prior reporting period presented or retrospectively as a cumulative-effect adjustment as of the date of adoption. In March 2016, the FASB issued ASU 2016-08, which clarifies the implementation guidance on principal versus agent considerations. In April 2016, the FASB issued ASU 2016-10, which clarifies identifying performance obligations and the licensing implementation guidance. In May 2016, the FASB issued ASU 2016-12, which improves certain aspects of ASC Topic 606 “Revenue from Contracts with Customers.” In December 2016, the FASB issued ASU 2016-20, which improves certain aspects of ASC Topic 606 “Revenue from Contracts with Customers.” The effective date and transition requirements for ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20 are the same as the effective date and transition requirements of ASU 2014-09 (collectively, "the standard"). The Company is in its final stages of evaluating the impact of the standard, primarily as it relates to the timing of revenue recognition on certain product development agreements and from the sale of products manufactured using the customer’s intellectual property. This includes an evaluation of the terms of customer contracts and arrangements that could potentially change the point-in-time revenue recognition to revenue recognition over-time, which could have a material impact on the financial statements. The Company expects to adopt the standard on a modified retrospective basis on January 1, 2018. See Note 1: “Background and Basis of Presentation” for the impact of the change in revenue recognition on distributor sales.

Acquisitions and Divestitures

9 Months Ended

Sep. 29, 2017

Business Combinations [Abstract]

Acquisitions and Divestitures

Note 3: Acquisitions and Divestitures

Divestitures

On September 29, 2017, the Company entered into a Share Purchase Agreement with mCube Hong Kong Limited (“mCube”), whereby mCube acquired 100% of the outstanding shares of Xsens Holding B.V., a wholly owned subsidiary of the Company, for cash consideration of $26.0 million (collectively, the “Xsens Transaction”). Twenty percent of the consideration, or $5.2 million, was deposited in an escrow account during the quarter ended September 29, 2017, and the remaining $20.8 million was received on September 29, 2017. There were no indemnification liabilities identified as of September 29, 2017, and the escrow amount has been considered as part of the consideration in calculating the gain and included in other assets in the Consolidated Balance Sheet as of September 29, 2017. The escrow amount will be released to the Company upon satisfaction of any pending claims eighteen months after the date on which the Xsens Transaction closed. The Company recorded a gain of $12.5 million after writing off the carrying value of the assets and liabilities sold of $7.0 million and goodwill of $6.5 million. This gain has been presented as “Gain on divestiture of business” in the Consolidated Statements of Operations and Comprehensive Income for the quarter and nine months ended September 29, 2017.

2016 Acquisition

Fairchild

On September 19, 2016, the Company acquired 100% of Fairchild pursuant to the Agreement and Plan of Merger (the "Fairchild Agreement") with each of Fairchild and Falcon Operations Sub, Inc., a Delaware corporation and wholly-owned subsidiary of the Company, whereby Fairchild became a wholly-owned subsidiary of the Company. The purchase price totaled $2,532.2 million in cash and was funded by the Company’s borrowings against the Term Loan “B” Facility and a partial draw of the Revolving Credit Facility, as well as with cash on hand.

Pro-Forma Results of Operations

Unaudited pro-forma consolidated results of operations for the quarter and nine months ended September 29, 2017 is not required because the results of the acquired business are included in the Consolidated Statements of Operations and Comprehensive Income for these periods. The following unaudited pro-forma consolidated results of operations for the quarter and nine months ended September 30, 2016 have been prepared as if the acquisition of Fairchild had occurred on January 1, 2015 and includes adjustments for depreciation expense, amortization of intangibles, interest expense from financing, and the effect of purchase accounting adjustments including the step-up of inventory (in millions):



	Quarter Ended			Nine Months Ended
	September 30, 2016			September 30, 2016
Revenues	$	1,260.2		$	3,636.1
Net Income (loss)	$	(10.6	)	$	49.8
Net income (loss) attributable to ON Semiconductor Corporation	$	(11.1	)	$	48.2
Net income (loss) per common share attributable to ON Semiconductor Corporation:
Basic	$	(0.03	)	$	0.12
Diluted	$	(0.03	)	$	0.12

Licensing Income

On December 19, 2016, the Company entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”) with HSET Electronic Tech (Hong Kong) Limited (“HSET”) to sell inventory and license patents related to its Mobile CIS business for $75 million. Pursuant to the Asset Purchase Agreement, the proceeds were scheduled to be received in multiple installments in 2017. The Company and HSET along with Huaian Imaging Device Manufacturer Corporation (“HIDM”) entered into the First Amendment to the Asset Purchase Agreement (the "First Amendment to Asset Purchase Agreement") on April 7, 2017. Pursuant to the First Amendment to Asset Purchase Agreement, payments for inventory will be received upon shipment of products and payments for other intangible assets, including the licenses, will be received in multiple installments on dates later than those established under the Asset Purchase Agreement. Due to the extension of payment terms under the First Amendment to Asset Purchase Agreement and the fact that the right to use the license by the customer is contingent on the receipt of certain payments, the transaction was not considered a divestiture of a group and has been treated as a series of individual transactions, which are recorded when the associated deliverables are transferred to the buyer. The arrangement included the sale of $22.5 million of inventory, which has been recorded as revenue during the six months ended June 30, 2017.

During the quarter ended June 30, 2017, the Company received $22.5 million relating to the second payment under the First Amendment to Asset Purchase Agreement and provided perpetual, non-exclusive licenses to certain technologies to HIDM. This payment, along with withholding taxes borne by the buyer on the Company’s behalf, has been recognized as licensing income in the Consolidated Statements of Operations and Comprehensive Income. The remaining value of the licensed technologies in intangible assets was nominal and has been fully amortized through operating expenses as there are no additional expected future cash flows associated with these technologies.

During the quarter ended September 29, 2017, the Company received $30.0 million relating to the third and fourth payments under the First Amendment to Asset Purchase Agreement, of which $20.0 million along with withholding taxes borne by the buyer on the Company’s behalf has been recognized as licensing income in the Consolidated Statements of Operations and Comprehensive Income. The remaining $10.0 million has been recorded as deferred licensing income to be recognized in the period in which certain qualification requirements of the technologies are achieved, or refunded to the buyer if qualification does not occur by June 21, 2018. The remaining value of the licensed technologies in intangible assets amounting to $8.1 million has been fully amortized.

Goodwill and Intangible Assets

9 Months Ended

Sep. 29, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 4: Goodwill and Intangible Assets

Goodwill

The following table summarizes goodwill by reportable segment as of September 29, 2017 and December 31, 2016 (in millions):



	Balance as of September 29, 2017							Balance as of December 31, 2016
	Goodwill		Accumulated Impairment Losses			Carrying Value		Goodwill		Accumulated Impairment Losses			Carrying Value
Reportable Segment:
Power Solutions Group	$	432.2	$	(28.6	)	$	403.6	$	438.7	$	(28.6	)	$	410.1
Analog Solutions Group	836.7		(418.9		)	417.8		836.7		(418.9		)	417.8
Image Sensor Group	95.5		—			95.5		96.8		—			96.8
	$	1,364.4	$	(447.5	)	$	916.9	$	1,372.2	$	(447.5	)	$	924.7

The amount of goodwill disposed as part of the Xsens Transaction amounted to $6.5 million. See Note 3: "Acquisitions and Divestitures" for further information. During the quarter ended September 29, 2017, goodwill was also reduced due to a measurement period adjustment of $1.3 million related to an immaterial acquisition that occurred on December 29, 2016. There has been no other change in the balance of goodwill from December 31, 2016 to September 29, 2017.

Goodwill is tested for impairment annually on the first day of the fourth quarter or more frequently if events or changes in circumstances (each, a "triggering event") would more likely than not reduce the carrying value of goodwill. Management did not identify any triggering events through September 29, 2017 that would require an interim impairment analysis.

Intangible Assets

Intangible assets, net, were as follows as of September 29, 2017 and December 31, 2016 (in millions):



	September 29, 2017
	Original Cost		Accumulated Amortization			Accumulated Impairment Losses			Carrying Value
Intellectual property	$	13.9	$	(11.7	)	$	(0.4	)	$	1.8
Customer relationships	555.9		(318.4		)	(20.1		)	217.4
Patents	43.7		(26.4		)	(13.7		)	3.6
Developed technology	640.1		(260.1		)	(2.6		)	377.4
Trademarks	17.2		(12.2		)	(1.1		)	3.9
Backlog	3.3		(3.3		)	—			—
Favorable Leases	1.7		(1.6		)	—			0.1
IPRD	72.0		—			(13.7		)	58.3
Total intangibles	$	1,347.8	$	(633.7	)	$	(51.6	)	$	662.5



	December 31, 2016
	Original Cost		Accumulated Amortization			Accumulated Impairment Losses			Carrying Value
Intellectual property	$	13.9	$	(11.2	)	$	(0.4	)	$	2.3
Customer relationships	549.0		(283.3		)	(19.5		)	246.2
Patents	43.7		(25.4		)	(13.7		)	4.6
Developed technology	566.9		(201.6		)	(2.6		)	362.7
Trademarks	17.2		(11.6		)	(1.1		)	4.5
Backlog	3.3		(2.4		)	—			0.9
Favorable Leases	1.5		(0.4		)	—			1.1
IPRD	145.8		—			(6.0		)	139.8
Total intangibles	$	1,341.3	$	(535.9	)	$	(43.3	)	$	762.1

During the quarter and nine months ended September 29, 2017, the Company completed certain of its IPRD projects, resulting in the reclassification of $49.0 million and $81.9 million from IPRD to developed technology, respectively. During the quarter and nine months ended September 29, 2017, the Company abandoned certain of its previously capitalized IPRD projects and recorded impairment charges of $1.5 million and $7.7 million, respectively. During the quarter and nine months ended September 29, 2017, the Company sold intangible assets of $8.7 million as part of a divestiture and expensed $8.1 million as part of a licensing transaction. See Note 3: "Acquisitions and Divestitures" for further information.

Amortization expense for acquisition-related intangible assets amounted to $37.3 million and $95.0 million for the quarter and nine months ended September 29, 2017, respectively, and $24.7 million and $71.9 million for the quarter and nine months ended September 30, 2016, respectively. Amortization expense for intangible assets, with the exception of the $58.3 million of IPRD assets that will be amortized once the corresponding projects have been completed, is expected to be as follows for remainder of 2017, each of the next four years, and thereafter (in millions):



Period	Estimated Amortization Expense
Remainder of 2017	$	28.9
2018	105.1
2019	95.7
2020	79.0
2021	67.7
Thereafter	227.8
Total estimated amortization expense	$	604.2

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Restructuring, Asset Impairments and Other, Net

9 Months Ended

Sep. 29, 2017

Restructuring Charges [Abstract]

Restructuring, Asset Impairments and Other, Net

Note 5: Restructuring, Asset Impairments and Other, Net

Summarized activity included in the “Restructuring, asset impairments and other, net” caption on the Company's Consolidated Statements of Operations and Comprehensive Income for the quarter and nine months ended September 29, 2017 is as follows (in millions):



	Restructuring			Asset Impairments ⁽¹⁾		Other ⁽²⁾		Total
Quarter ended September 29, 2017
Post-Fairchild acquisition restructuring costs	$	1.3		$	—	$	—	$	1.3
Japan Voluntary Workforce Reduction	1.0			—		—		1.0
Other	—			6.4		1.0		7.4
Total	$	2.3		$	6.4	$	1.0	$	9.7

	Restructuring			Asset Impairments ⁽¹⁾		Other ⁽²⁾		Total
Nine months ended September 29, 2017
Post-Fairchild acquisition restructuring costs	$	5.9		$	—	$	—	$	5.9
Manufacturing relocation	(2.1		)	—		—		(2.1		)
Japan Voluntary Workforce Reduction	2.0			—		—		2.0
Other	0.1			7.3		2.9		10.3
Total	$	5.9		$	7.3	$	2.9	$	16.1

⁽¹⁾ Includes impairment charges of $6.4 million and $7.3 million for the quarter and nine months ended September 29, 2017, respectively, to write down certain held-for-sale assets to fair value less costs to sell.

⁽²⁾ Includes amounts related to other restructuring activities and immaterial adjustments which are not considered to be significant.

Changes in accrued restructuring charges from December 31, 2016 to September 29, 2017 are summarized as follows (in millions):



	As of December 31, 2016		Charges		Usage			As of September 29, 2017

Estimated employee separation charges ⁽³⁾	$	8.1	$	5.6	$	(10.4	)	$	3.3
Estimated costs to exit	—		0.3		(0.2		)	0.1
Total	$	8.1	$	5.9	$	(10.6	)	$	3.4

⁽³⁾ Includes $0.2 million of adjustments to charges and $0.3 million of usage for employee separation charges not considered to be significant.

Activity related to the Company’s restructuring programs that were either initiated during 2017 or had not been completed as of September 29, 2017, is as follows:

Post Fairchild Acquisition Restructuring Costs

Following the acquisition of Fairchild, the Company approved the implementation of a cost-reduction plan, which eliminated approximately 225 positions from its workforce as a result of redundancies during 2016. During the quarters ended March 31, 2017, June 30, 2017 and September 29, 2017, an additional 25, 31 and 16 positions, respectively, were eliminated totalling 297 pursuant to the plan. As of September 29, 2017, a total of 280 employees have exited, and the remaining 17 are expected to exit by the end of the year. The expense was $1.3 million and $5.9 million for the quarter and nine months ended September 29, 2017, respectively. During the quarter and nine months ended September 29, 2017, the Company paid $2.6 million and $9.0 million, respectively, for all programs. Accrued severance for this program was $2.4 million as of September 29, 2017, and is expected to be paid by the end of the first quarter of 2018. The total expense for the program to date is $31.6 million. The Company will continue to evaluate the remaining positions for redundancies and may incur additional charges in the future.

Japan Voluntary Workforce Reduction

During the quarter ended June 30, 2017, the Company announced a voluntary resignation program for the former System Solutions Group. A total of 35 employees had signed employee separation agreements as of September 29, 2017. The related expense for the quarter and nine months ended September 29, 2017 was $1.0 million and $2.0 million, respectively, of which $1.1 million has been paid as of September 29, 2017. Accrued severance for this program was $0.9 million as of September 29, 2017 , which is expected to be paid by the end of the year. Up to 50 employees, including the 35 who have already signed agreements, may volunteer to resign by the end of the year with an expected expense between $3.0 million and $4.0 million in total. As of September 29, 2017, 17 employees have exited, and the remaining employees who elect to resign pursuant to the program are expected to exit by the end of 2017.

Manufacturing Relocation

During March 2016, the Company announced a plan to relocate certain of its manufacturing operations to another existing location. During the quarter ended March 31, 2017, the Company made the decision to cancel the plans for relocation and announced all workforce would remain intact. As a result, the accrued balance of $2.1 million was released as of March 31, 2017.

Balance Sheet Information

9 Months Ended

Sep. 29, 2017

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Information

Note 6: Balance Sheet Information

Certain amounts included in the Company's balance sheet as of September 29, 2017 and December 31, 2016 consist of the following (in millions):



	September 29, 2017			December 31, 2016
Receivables, net:
Accounts receivable	$	698.4		$	632.0
Less: Allowance for doubtful accounts	(2.8		)	(2.2		)
	$	695.6		$	629.8
Inventories:
Raw materials	$	116.7		$	121.4
Work in process	627.2			606.9
Finished goods	285.1			301.9
	$	1,029.0		$	1,030.2
Property, plant and equipment, net:
Land	$	148.5		$	146.3
Buildings	726.9			713.7
Machinery and equipment	3,373.7			3,131.1
Total property, plant and equipment	4,249.1			3,991.1
Less: Accumulated depreciation	(2,010.9		)	(1,832.0		)
	$	2,238.2		$	2,159.1
Accrued expenses:
Accrued payroll	$	180.2		$	155.3
Sales related reserves	268.4			124.8
Income taxes payable	30.4			30.0
Other	101.5			94.9
	$	580.5		$	405.0

As described in Note 1: “Background and Basis of Presentation,” during the quarter ended March 31, 2017, the Company recognized accruals for returns and allowances at the time of recognizing revenue upon shipment to the distributors, which is included in sales related reserves within accrued expenses.

Assets classified as held-for-sale, consisting of properties, machinery and equipment, are required to be recorded at the lower of carrying value or fair value less costs to sell. The carrying value of these assets as of September 29, 2017 and December 31, 2016 was $17.3 million and $34.1 million, respectively, and is reported as other current assets on the Company’s Consolidated Balance Sheet. During the quarter ended September 29, 2017, the Company recorded impairment charges of $6.4 million to write down the assets to their fair value less costs to sell. The sale is expected to be completed during the fourth quarter of 2017. Although this is outside the twelve month period of original reclassification, the Company has been actively marketing the properties at a price that is reasonable given the change in circumstances.

Warranty Reserves

Activity related to the Company's warranty reserves for the nine months ended September 29, 2017 and September 30, 2016 is as follows (in millions):



	Nine Months Ended
	September 29, 2017			September 30, 2016
Beginning Balance	$	8.8		$	5.3
Provision	5.9			3.0
Usage	(6.9		)	(2.8		)
Warranty reserves from acquired business	—			0.7
Ending Balance	$	7.8		$	6.2

Defined Benefit Plans

The Company maintains defined benefit plans for certain of its foreign subsidiaries. The Company recognizes the aggregate amount of all overfunded plans as assets and the aggregate amount of all underfunded plans as liabilities in its financial statements. As of September 29, 2017, the total accrued pension liability for underfunded plans was $107.1 million, of which the current portion of $0.1 million was classified as accrued expenses. As of December 31, 2016, the total accrued pension liability for underfunded plans was $102.1 million, of which the current portion of $0.1 million was classified as accrued expenses.

The components of the Company's net periodic pension expense for the quarters and nine months ended September 29, 2017 and September 30, 2016 are as follows (in millions):



	Quarter Ended						Nine Months Ended
	September 29, 2017			September 30, 2016			September 29, 2017			September 30, 2016
Service cost	$	2.4		$	2.3		$	7.0		$	6.8
Interest cost	1.1			1.1			3.2			3.3
Expected return on plan assets	(1.4		)	(1.0		)	(4.0		)	(3.0		)
Total net periodic pension cost	$	2.1		$	2.4		$	6.2		$	7.1

Long-Term Debt

9 Months Ended

Sep. 29, 2017

Debt Disclosure [Abstract]

Long-Term Debt

Note 7: Long-Term Debt

The Company's long-term debt consists of the following (annualized rates, in millions):



	September 29, 2017			December 31, 2016
Revolving Credit Facility due 2021	$	—		$	—
Term Loan “B” Facility due 2023, interest payable monthly at 3.49% and 4.02%, respectively	1,604.5			2,394.0
1.00% Notes due 2020 (1)	690.0			690.0
2.625% Notes, Series B (2)	—			356.4
1.625% Notes due 2023 (3)	575.0			—
Note payable to SMBC due 2016 through 2018, interest payable quarterly at 3.09% and 2.75%, respectively (4)	132.1			160.4
U.S. real estate mortgages payable monthly through 2019 at an average rate of 3.12% and 3.12%, respectively (5)	35.4			38.9
Philippine term loans due 2016 through 2020, interest payable quarterly at 3.67% and 3.20%, respectively (8)	35.3			44.1
Loan with Singapore bank, interest payable weekly at 2.49% and 2.01%, respectively (7) (11)	25.0			25.0
Loan with Hong Kong bank, interest payable weekly at 2.49% and 2.01%, respectively (7) (11)	25.0			25.0
Malaysia revolving line of credit, interest payable quarterly at 2.78% and 2.45%, respectively (8) (11)	25.0			25.0
Vietnam revolving line of credit, interest payable quarterly at an average rate of 2.73% and 2.43%, respectively (8) (11)	24.9			17.0
Loan with Philippine bank due 2016 through 2019, interest payable quarterly at 3.99% and 3.58%, respectively (6)	10.6			14.1
Loan with Japanese bank due 2016 through 2020, interest payable quarterly at 1.1% (8)	2.9			3.4
Canada equipment financing payable monthly through 2017 at 3.81% (6)	—			0.5
Capital lease obligations	5.4			13.0
Gross long-term debt, including current maturities	3,191.1			3,806.8
Less: Debt discount (9)	(192.6		)	(111.4		)
Less: Debt issuance costs (10)	(55.6		)	(73.1		)
Net long-term debt, including current maturities	2,942.9			3,622.3
Less: Current maturities	(258.5		)	(553.8		)
Net long-term debt	2,684.4			3,068.5

_______________________


(1)	Interest is payable on June 1 and December 1 of each year at 1.00% annually.


(2)	The 2.625% Notes, Series B were redeemed in full in January 2017. See below under the heading “2.625% Notes, Series B” for additional information.


(3)	Interest is payable on April 15 and October 15 of each year, beginning October 15, 2017, at 1.625% annually.


(4)	This loan represents SCI LLC's non-collateralized loan with SMBC, which is guaranteed by the Company.


(5)	Debt arrangement collateralized by real estate, including certain of the Company’s facilities in California, Oregon and Idaho.


(6)	Debt collateralized by equipment.


(7)	Debt arrangement collateralized by certain accounts receivable.


(8)	Non-collateralized debt arrangement.


(9)	Debt discount of $67.0 million and $81.5 million for the 1.00% Notes as of September 29, 2017 and December 31, 2016, respectively, $108.2 million and zero for the 1.625% Notes as of September 29, 2017 and December 31, 2016, respectively, and $17.4 million and $29.9 million for the Term Loan "B" Facility as of September 29, 2017 and December 31, 2016, respectively.


(10)	Debt issuance costs of $9.3 million and $11.3 million for the 1.00% Notes as of September 29, 2017 and December 31, 2016, respectively, $10.4 million and zero for the 1.625% Notes as of September 29, 2017 and December 31, 2016, respectively, and $35.9 million and $61.8 million for the Term Loan "B" Facility as of September 29, 2017 and December 31, 2016, respectively.


(11)	The Company has historically renewed these arrangements annually.

Expected maturities relating to the Company’s long-term debt (including current maturities) as of September 29, 2017 are as follows (in millions):



Period	Expected Maturities
Remainder of 2017	$	116.0
2018	148.2
2019	47.6
2020	699.7
2021	—
Thereafter	2,179.6
Total	$	3,191.1

2.625% Notes, Series B

On November 17, 2016, the Company announced that it would be exercising its option to redeem the entire $356.9 million outstanding principal amount of the 2.625% Notes, Series B on December 20, 2016 pursuant to the terms of the indenture governing the 2.625% Notes, Series B. The holders of the 2.625% Notes, Series B had the right to convert their 2.625% Notes, Series B into shares of common stock of the Company at a conversion rate of 95.2381 shares per $1,000 principal amount until the close of business on December 19, 2016, which was equivalent to an initial conversion price of approximately $10.50 per share of common stock. The Company, at its election, could settle its conversion obligation with respect to the 2.625% Notes, Series B, with shares of common stock, cash or a combination thereof. The Company satisfied its obligation with respect to the 2.625% Notes, Series B tendered for conversion with cash. The final conversion was settled on January 26, 2017, resulting in an aggregate payment of approximately $445.0 million for the redemption and conversion of the 2.625% Notes, Series B. The equity component of the 2.625% Notes, Series B, amounting to $32.9 million, representing the amounts previously recorded to additional paid-in capital, was reclassified to mezzanine equity as of December 31, 2016. There was no loss on extinguishment of debt, and upon settlement, the balance in the mezzanine equity was reduced to zero and the remaining $55.7 million was recorded as a reduction to additional paid-in capital.

1.625% Notes due 2023

On March 31, 2017, the Company completed a private placement of $575.0 million of its 1.625% Notes to qualified institutional buyers pursuant to Rule 144A under the Securities Act. The Company incurred issuance costs of $13.7 million in connection with the issuance of the 1.625% Notes, of which $11.1 million was capitalized as debt issuance costs and is being amortized using the effective interest method, and $2.6 million was allocated to the conversion option (as further described below) and was recorded as equity. The 1.625% Notes are governed by an indenture (the “1.625% Indenture”) between the Company, the guarantors party thereto, and Wells Fargo Bank, National Association, as trustee.

The net proceeds from the offering of the 1.625% Notes were used to repay $562.1 million of borrowings outstanding under the Term Loan “B” Facility. The 1.625% Notes bear interest at the rate of 1.625% per year from the date of issuance, payable semiannually in arrears on April 15 and October 15 of each year, beginning on October 15, 2017. The 1.625% Notes are fully and unconditionally guaranteed, on a joint and several basis, by each of the Company’s subsidiaries that is a borrower or guarantor under the Credit Agreement (as defined below).

The initial conversion rate of the 1.625% Notes is 48.2567 shares of common stock per $1,000 principal amount of 1.625% Notes (subject to adjustment in certain events), which is equivalent to an initial conversion price of approximately $20.72 per share of common stock. Prior to the close of business on the business day immediately preceding July 15, 2023, the 1.625% Notes will be convertible only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on June 30, 2017 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period in which the trading price per $1,000 principal amount of the 1.625% Notes for each trading day of such period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day; or (3) upon the occurrence of specified corporate transactions described in the 1.625% Indenture. On or after July 15, 2023, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders of the 1.625% Notes may convert all or a portion of their 1.625% Notes at any time. Upon conversion of the 1.625% Notes, the Company will deliver cash, shares of its common stock or a combination of cash and shares of its common stock, at the Company’s election. For a discussion of the dilutive effects for earnings per share calculations, see Note 8: “Earnings Per Share and Equity.”

The 1.625% Notes will mature on October 15, 2023. If a holder elects to convert its 1.625% Notes in connection with the occurrence of specified fundamental changes that occur prior to July 15, 2023, the holder will be entitled to receive, in addition to cash and/or shares of common stock equal to the conversion rate, an additional number of shares of common stock, as described in the 1.625% Indenture. Notwithstanding these conversion rate adjustments, the 1.625% Notes contain an explicit limit on the number of shares issuable upon conversion.

In connection with the occurrence of specified fundamental changes, holders may require the Company to repurchase for cash all or a portion of their 1.625% Notes at a purchase price equal to 100% of the principal amount of the 1.625% Notes to be repurchased, plus accrued and unpaid interest to, but not including, the fundamental change repurchase date.

The 1.625% Notes, which are the Company’s unsecured obligations, rank equally in right of payment to all of the Company’s existing and future unsubordinated indebtedness and are senior in right of payment to all of the Company’s existing and future subordinated obligations. The 1.625% Notes are effectively subordinated to any of the Company’s or its subsidiaries’ secured indebtedness to the extent of the value of the assets securing such indebtedness.

In accordance with accounting guidance on embedded conversion features, the Company valued and bifurcated the conversion option associated with the 1.625% Notes from the respective host debt instrument, which is referred to as the debt discount, and initially recorded the conversion option of $115.7 million in stockholders’ equity. The resulting debt discount is being amortized to interest expense at an effective interest rate of 5.38% over the contractual terms of the notes. The unamortized debt discount as of September 29, 2017 was $108.2 million.

Included as a reduction of gross long-term debt as of September 29, 2017 were $10.4 million of unamortized debt issuance costs associated with the 1.625% Notes, which are being amortized using the effective interest method.

Concurrently with the offering of the 1.625% Notes, the Company used $59.5 million of borrowings under the Revolving Credit Facility to enter into convertible note hedge and warrant transactions with certain of the initial purchasers of the 1.625% Notes.

Pursuant to these transactions, the Company has the option to purchase (subject to adjustment for certain specified transactions) an aggregate of 27.7 million shares of its common stock at a price of $20.72 per share. The total cost of the convertible note hedge transactions was $144.7 million. In addition, the Company sold warrants to certain bank counterparties whereby the holders of the warrants have the option to purchase initially (subject to adjustment for certain specified events) a total of 27.7 million shares of the Company’s common stock at a price of $30.70 per share. The Company received $85.2 million in cash proceeds from the sale of these warrants.

Together, the purchase of the convertible note hedges and the sale of the warrants are intended to offset potential dilution from the conversion of the 1.625% Notes. As these transactions meet certain accounting criteria, the convertible note hedges and warrants are recorded in stockholders’ equity and are not accounted for as derivatives. The net cost incurred in connection with the convertible note hedge and warrant transactions was recorded as a reduction to additional paid in capital in the consolidated balance sheet. A portion of the shares subject to the conversion of the 1.625% Notes and hedging transactions were reserved from the Company’s unallocated shares.

Second Amendment to Credit Agreement

On March 31, 2017, the Company and certain of the Company's subsidiaries, as guarantors (the "Guarantors"), entered into the Second Amendment (the “Second Amendment”) to the Credit Agreement, dated as of April 15, 2016, as amended by the First Amendment (the “First Amendment”) thereto, dated as of September 30, 2016, with the several lenders party thereto, Deutsche Bank AG New York Branch, as administrative agent (the “Agent”), Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, BMO Capital Markets Corp., HSBC Securities (USA) Inc. and Sumitomo Mitsui Banking Corporation, as joint lead arrangers and joint bookrunners, Barclays Bank PLC, Compass Bank, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Morgan Stanley Senior Funding, Inc., BOKF, NA and KBC Bank N.V., as co-managers, and HSBC Bank USA, N.A. and Sumitomo Mitsui Banking Corporation, as co-documentation agents (as amended by the First Amendment and Second Amendment, the “Credit Agreement”).

The Second Amendment provides for, among other things, modifications to the Credit Agreement to allow the 1.625% Notes to rank pari passu with borrowings under the Credit Agreement and to reduce the interest rates payable under the term loan “B” facility (the “Term Loan “B” Facility”) and the revolving credit facility (the “Revolving Credit Facility”).

Borrowings under the Credit Agreement may be incurred in U.S. Dollars, Euros, Pounds Sterling, Japanese Yen or any other currency approved by the Agent and the lenders under the Revolving Credit Facility, subject to certain qualifications described in the Credit Agreement. Regardless of currency, all borrowings under the Credit Agreement, may, at the Company’s option, be incurred as either eurocurrency loans (“Eurocurrency Loans”) or alternate base rate loans (“ABR Loans”).

Pursuant to the Credit Agreement, for any interest period ending after the date of the Second Amendment, Eurocurrency Loans will accrue interest at (i) a base rate per annum equal to the Adjusted LIBO Rate (as defined below) plus (ii) an applicable margin equal to (x) 1.75% with respect to borrowings under the Revolving Credit Facility (with step-downs and step-ups as set forth in the Credit Agreement) or (y) 2.25% with respect to borrowings under the Term Loan “B” Facility.

Pursuant to the Credit Agreement, ABR Loans will accrue interest at (i) a base rate per annum equal to the highest of (x) the Federal funds rate plus 0.50%, (y) the prime commercial lending rate announced by Deutsche Bank AG, New York Branch from time to time as its prime lending rate and (z) the Adjusted LIBO Rate for a one month interest period (or if such day is not a business day, the immediately preceding business day) (determined after giving effect to any applicable “floor”) plus 1.00%; provided that, the Adjusted LIBO Rate for any day shall be based on the LIBO Rate (as defined below), subject to the interest rate floors set forth in the Credit Agreement, plus (ii) an applicable margin equal to (x) 0.75% with respect to borrowings under the Revolving Credit Facility (with step-downs and step-ups as set forth in the Credit Agreement) or (y) 1.25% with respect to borrowings under the Term Loan “B” Facility.

The obligations under the Credit Agreement are guaranteed by the Guarantors and collateralized by a pledge of substantially all of the assets of the Company and the Guarantors, including a pledge of the equity interests in certain of the Company’s domestic and first tier foreign subsidiaries, subject to customary exceptions. The obligations under the Credit Agreement are also collateralized by mortgage on certain real property assets of the Company and its domestic subsidiaries.

The Credit Agreement includes financial maintenance covenants including a maximum consolidated total net leverage ratio and a minimum interest coverage ratio in relation to the Revolving Credit Facility. It also contains other customary affirmative and negative covenants and events of default. The Company was in compliance with its covenants under the Credit Agreement as of September 29, 2017.

Debt prepayment, issuance costs

During the quarter ended September 29, 2017, the Company prepaid $200.0 million of borrowings under the Term Loan “B” facility and expensed $6.7 million of unamortized debt discount and issuance costs attributed to the partial pay down as loss on debt prepayment.

During the quarter ended June 30, 2017, the Company repaid in full the $120.0 million outstanding under the Revolving Credit Facility.

During the quarter ended March 31, 2017, the Company incurred legal and other fees of $2.4 million related to the Second Amendment. The Company performed a debt extinguishment vs. modification analysis on a lender by lender basis upon the execution of the Second Amendment and recorded a debt extinguishment charge of $5.6 million, which included a $3.2 million write off of unamortized debt issuance costs and $2.4 million in third party fees.

On March 31, 2017, the Company used the proceeds from the issuance of the 1.625% Notes, amounting to $562.1 million, and cash on hand of $12.9 million to prepay $575.0 million of the outstanding balance of the Term Loan “B” Facility and recorded a loss on debt prepayment amounting to $20.6 million representing the proportionate write-off of unamortized debt issuance costs.

Earnings Per Share and Equity

9 Months Ended

Sep. 29, 2017

Earnings Per Share [Abstract]

Earnings Per Share and Equity

Note 8: Earnings Per Share and Equity

Earnings Per Share

Calculations of net income per common share attributable to ON Semiconductor are as follows (in millions, except per share data):



	Quarter Ended				Nine Months Ended
	September 29, 2017		September 30, 2016		September 29, 2017		September 30, 2016
Net income attributable to ON Semiconductor Corporation	$	108.7	$	10.1	$	280.8	$	71.2
Basic weighted-average common shares outstanding	422.2		415.8		421.0		414.4
Dilutive effect of share-based awards	5.3		4.0		5.5		3.2
Diluted weighted-average common shares outstanding	427.5		419.8		426.5		417.6

Net income per common share attributable to ON Semiconductor Corporation:
Basic	$	0.26	$	0.02	$	0.67	$	0.17
Diluted	$	0.25	$	0.02	$	0.66	$	0.17

Basic net income per common share attributable to ON Semiconductor Corporation is computed by dividing the net income attributable to ON Semiconductor Corporation by the basic weighted-average number of common shares outstanding during the period.

The number of incremental shares from the assumed exercise of stock options and assumed issuance of shares relating to restricted stock units is calculated by applying the treasury stock method. Share-based awards whose impact is considered to be anti-dilutive under the treasury stock method were excluded from the diluted net income per share calculation. The excluded number of anti-dilutive share-based awards was zero and 0.3 million for the quarters ended September 29, 2017 and September 30, 2016, respectively, and 0.3 million and 2.3 million for the nine months ended September 29, 2017 and September 30, 2016, respectively.

The dilutive impact related to the Company's 1.00% Notes and 1.625% Notes is determined in accordance with the net share settlement requirements prescribed by ASC Topic 260, Earnings Per Share. Under the net share settlement calculation, the Company's convertible notes are assumed to be convertible into cash up to the par value, with the excess of par value being convertible into common stock. A dilutive effect occurs when the stock price exceeds the conversion price for each series of the convertible notes. In periods when the share price is lower than the conversion price, the impact is anti-dilutive and therefore has no impact on the Company's earnings per share calculations. Additionally, if the average price of the Company's common stock exceeds $25.96 per share, with respect to the 1.00% Notes, or $30.70 per share, with respect to the 1.625% Notes, for a reporting period, the Company will also include the effect of the additional potential shares, using the treasury stock method, that may be issued related to the warrants that were issued concurrently with the issuance of the 1.00% Notes and 1.625% Notes, respectively. Prior to conversion, the convertible note hedges are not considered for purposes of the earnings per share calculations, as their effect would be anti-dilutive. Upon conversion, the convertible note hedges are expected to offset the dilutive effect of the 1.00% Notes and 1.625% Notes, respectively, when the stock price is above $18.50 per share, with respect to the 1.00% Notes, and $20.72 per share, with respect to the 1.625% Notes.

Equity

Share Repurchase Program

There were no repurchases of the Company's common stock under the share repurchase program during the quarter ended September 29, 2017 as the Company focused on paying down its long-term debt. There were also no repurchases of the Company’s common stock under this program during the quarter and nine months ended September 30, 2016 as the Company focused on building up cash reserves ahead of the Company's acquisition of Fairchild on September 19, 2016.

Information relating to the Company's share repurchase program during the quarter and nine months ended September 29, 2017 is as follows (in millions, except per share data):



	Quarter Ended		Nine Months Ended
	September 29, 2017		September 29, 2017
Number of repurchased shares ⁽¹⁾⁽²⁾	—		1.6
Aggregate purchase price	$	—	$	25.0
Weighted-average purchase price per share ⁽³⁾	$	—	$	15.35
Available for future purchases at September 29, 2017	$	603.2	$	603.2

(1) None of these shares had been reissued or retired as of September 29, 2017, but may be reissued or retired by

the Company at a later date.

(2) Represents 1.6 million shares, totaling $25.0 million, repurchased concurrently with the issuance of the

1.625% Notes.

(3) Exclusive of fees, commissions and other expenses.

Shares for Restricted Stock Units Tax Withholding

Treasury stock is recorded at cost and is presented as a reduction of stockholders' equity in the accompanying unaudited consolidated financial statements. Shares with a fair market value equal to the applicable statutory minimum amount of the employee withholding taxes due are withheld by the Company upon the vesting of restricted stock units to pay the applicable statutory minimum amount of employee withholding taxes and are considered common stock repurchases. The Company then pays the applicable statutory minimum amount of withholding taxes in cash. The amount remitted for the quarter and nine months ended September 29, 2017, was $11.4 million and $25.0 million, respectively, for which the Company withheld 0.7 million and 1.6 million shares of common stock, respectively, that were underlying the restricted stock units that vested. The amount remitted for the quarter and nine months ended September 30, 2016, was $2.2 million and $10.4 million, respectively, for which the Company withheld 0.2 million and 1.1 million shares of common stock, respectively, that were underlying the restricted stock units that vested. None of these shares had been reissued or retired as of September 29, 2017; however, these shares may be reissued or retired by the Company at a later date.

Non-Controlling Interest

The Company's entity which operates assembly and test operations in Leshan, China is owned by a joint venture company, Leshan-Phoenix Semiconductor Company Limited (“Leshan”). The Company owns a majority of the outstanding equity interests in Leshan, and the Company's investment in Leshan has been consolidated in its financial statements.

At December 31, 2016, the non-controlling interest balance was $21.8 million. This balance increased to $23.0 million as of September 29, 2017, resulting from the non-controlling interest's $1.2 million share of the earnings for the nine months ended September 29, 2017.

Share-Based Compensation

9 Months Ended

Sep. 29, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation

Note 9: Share-Based Compensation

Total share-based compensation expense related to the Company's employee stock options, restricted stock units, stock grant awards and ESPP for the quarters and nine months ended September 29, 2017 and September 30, 2016 was comprised as follows (in millions):



	Quarter Ended				Nine Months Ended
	September 29, 2017		September 30, 2016		September 29, 2017		September 30, 2016
Cost of revenues	$	1.4	$	2.0	$	4.4	$	6.0
Research and development	3.2		2.9		9.6		8.3
Selling and marketing	2.8		2.6		8.8		7.2
General and administrative	9.4		6.7		29.9		20.4
Share-based compensation expense before income taxes	$	16.8	$	14.2	$	52.7	$	41.9
Related income tax benefits ⁽¹⁾	5.9		—		18.4		—
Share-based compensation expense, net of taxes	$	10.9	$	14.2	$	34.3	$	41.9


⁽¹⁾	Recognition of related income tax benefits are the result of the adoption of ASU 2016-09 during the first quarter of 2017. Tax benefit calculated using the federal statutory rate of 35%. See Note 2: ''Recent Accounting Pronouncements'' for more information.

As of September 29, 2017, total estimated unrecognized share-based compensation expense, net of estimated forfeitures, related to non-vested stock options granted prior to that date was less than $0.1 million, which is expected to be recognized over a weighted-average period of 6 months. As of September 29, 2017, total estimated unrecognized share-based compensation expense, net of estimated forfeitures, related to non-vested restricted stock units with time-based service conditions and performance-based vesting criteria granted prior to that date was $83.7 million, which is expected to be recognized over a weighted-average period of 1.8 years. The total intrinsic value of stock options exercised during the quarter and nine months ended September 29, 2017 was $2.3 million and $9.8 million, respectively. The Company received cash of $1.7 million and $10.9 million for the quarter and nine months ended September 29, 2017, respectively, from the exercise of stock options.

Share-based compensation expense recognized in the Consolidated Statements of Operations and Comprehensive Income is based on awards that are ultimately expected to vest. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The annualized pre-vesting forfeiture rate for stock options was estimated to be 11% during the quarters and nine months ended September 29, 2017 and September 30, 2016. The annualized pre-vesting forfeiture rate for restricted stock units was estimated to be 5% during the quarters and nine months ended September 29, 2017 and September 30, 2016.

Shares Available

As of September 29, 2017, there was an aggregate of 39.6 million shares of common stock available for grant under the Amended and Restated SIP and 8.9 million shares available for issuance under the ESPP. As of December 31, 2016, there was an aggregate of 19.8 million shares of common stock available for grant under the Company's Amended and Restated SIP and 4.9 million shares available for issuance under the ESPP.

Stock Options

The following table presents summarized information with respect to the Company's stock options at September 29, 2017 and changes during the nine months ended September 29, 2017 (in millions, except per share and contractual term data):



	Nine Months Ended September 29, 2017
	Number of Shares		Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (In-The-Money)
Outstanding at December 31, 2016	3.3		$	7.75
Granted	—		—
Exercised	(1.4	)	8.08
Canceled	—		—
Outstanding at September 29, 2017	1.9		$	7.50	1.37	$	21.3

Exercisable at September 29, 2017	1.9		$	7.50	1.37	$	21.3

Additional information with respect to stock options outstanding as of September 29, 2017, with exercise prices less than or above $18.47 per share, the closing price of the Company's common stock at September 29, 2017, is as follows (in millions, except per share data):



	Exercisable			Unexercisable			Total
Exercise Prices	Number of Shares	Weighted-Average Exercise Price Per Share		Number of Shares	Weighted-Average Exercise Price Per Share		Number of Shares	Weighted-Average Exercise Price Per Share
Less than $18.47	1.9	$	7.50	—	$	—	1.9	$	7.50
Above $18.47	—	—		—	—		—	—
Total outstanding	1.9	$	7.50	—	$	—	1.9	$	7.50

Restricted Stock Units

Restricted stock units generally vest over three years with service-based requirements or performance-based requirements or a combination of service-based and performance-based requirements and are payable in shares of the Company's common stock upon vesting. The following table presents summarized information with respect to the Company's restricted stock units at September 29, 2017 and changes during the nine months ended September 29, 2017 (in millions, except per share data):



	Number of Shares		Weighted-Average Grant Date Fair Value Per Share
Non-vested shares underlying restricted stock units at December 31, 2016	9.7		$	10.10
Granted	4.1		15.19
Achieved	1.2		9.01
Released	(4.7	)	9.63
Forfeited	(0.2	)	11.86
Non-vested shares underlying restricted stock units at September 29, 2017	10.1		12.26

Commitments and Contingencies

9 Months Ended

Sep. 29, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 10: Commitments and Contingencies

Leases

The following represents future minimum lease obligations under non-cancelable operating leases as of September 29, 2017 (in millions):



Remainder of 2017	$	9.7
2018	32.0
2019	27.2
2020	19.6
2021	14.3
Thereafter	57.8
Total ⁽¹⁾	$	160.6

⁽¹⁾ Excludes $16.6 million of expected sublease income.

Environmental Contingencies

The Company’s headquarters in Phoenix, Arizona is located on property that is a “Superfund” site, which is a property listed on the National Priorities List and subject to clean-up activities under the Comprehensive Environmental Response, Compensation, and Liability Act (“CERCLA”). Motorola and Freescale have been involved in the cleanup of on-site solvent contaminated soil and groundwater and off-site contaminated groundwater pursuant to consent decrees with the State of Arizona. As part of the Company’s August 4, 1999 recapitalization (the “Recapitalization”), Motorola retained responsibility for this contamination, and Motorola and Freescale have agreed to indemnify the Company with respect to remediation costs and other costs or liabilities related to this matter.

As part of the Recapitalization, the Company received various manufacturing facilities, one of which is located in the Czech Republic. In regards to this site, the Company has ongoing remediation projects to respond to releases of hazardous substances that occurred prior to the Recapitalization during the years that this facility was operated by government-owned entities. In each case, the remediation project consists primarily of monitoring groundwater wells located on-site and off-site with additional action plans developed to respond in the event activity levels are exceeded at each of the respective locations. The government of the Czech Republic has agreed to indemnify the Company and the respective subsidiaries, subject to specified limitations, for remediation costs associated with this historical contamination. Based upon the information available, total future remediation costs to the Company are not expected to be material.

The Company’s design center in East Greenwich, Rhode Island is located on property that has localized soil contamination. In connection with the purchase of the facility, the Company entered into a settlement agreement and covenant not to sue with the State of Rhode Island. This agreement requires that remedial actions be undertaken and a quarterly groundwater monitoring program be initiated by the former owners of the property. Any costs to the Company in connection with this matter have not been, and, based on the information available, are not expected to be, material.

As a result of the acquisition of AMIS, the Company is a “primary responsible party” to an environmental remediation and cleanup at AMIS’s former corporate headquarters in Santa Clara, California. Costs incurred by AMIS have included implementation of the clean-up plan, operations and maintenance of remediation systems, and other project management costs. However, AMIS’s former parent company, a subsidiary of Nippon Mining, contractually agreed to indemnify AMIS and the Company for any obligations relating to environmental remediation and cleanup at this location. Any costs to the Company in connection with this matter have not been, and, based on the information available, are not expected to be, material.

The Company’s former front-end manufacturing location in Aizu, Japan is located on property where soil and ground water contamination have been detected. The Company believes that the contamination originally occurred during a time when the facility was operated by a prior owner. The Company has worked with local authorities to implement a remediation plan and expects remaining remediation costs to be covered by insurance. Any costs to the Company in connection with this matter have not been, and, based on the information available, are not expected to be, material.

Through its acquisition of Fairchild, the Company acquired facilities in South Portland, Maine and West Jordan, Utah. These two facilities have ongoing environmental remediation projects to respond to certain releases of hazardous substances that occurred prior to the leveraged recapitalization of Fairchild from its former parent company, National Semiconductor Corporation, which is now owned by Texas Instruments, Inc. Although the Company may incur certain liabilities with respect to these remediation projects, pursuant to the asset purchase agreement entered into in connection with the Fairchild recapitalization, National Semiconductor Corporation agreed to indemnify Fairchild, without limitation and for an indefinite period of time, for all future costs related to these projects. Additionally, under the 1999 asset purchase agreement pursuant to which Fairchild purchased the power device business of Samsung Electronics Co., Ltd. (“Samsung”), Samsung agreed to indemnify Fairchild in an amount up to $150.0 million for remediation costs and other liabilities related to historical contamination at Samsung’s Bucheon, South Korea operations. Any costs to the Company in connection with this matter have not been, and, based on the information available, are not expected to be, material.

The Company was notified by the Environmental Protection Agency (“EPA”) that it has been identified as a “potentially responsible party” (“PRP”) under CERCLA in the Chemetco Superfund matter. Chemetco is a defunct reclamation services supplier that operated in Illinois at what is now a Superfund site. The Company used Chemetco for reclamation services. The EPA is pursuing Chemetco customers for contribution to the site cleanup activities. The Company has joined a PRP group which is cooperating with the EPA in the evaluation and funding of the cleanup. Any costs to the Company in connection with this matter have not been, and, based on the information available, are not expected to be, material.

Financing Contingencies

In the ordinary course of business, the Company provides standby letters of credit or other guarantee instruments to certain parties initiated by either the Company or its subsidiaries, as required for transactions such as, but not limited to, material purchase commitments, agreements to mitigate collection risk, leases, utilities or customs guarantees. As of September 29, 2017, the Company's Revolving Credit Facility included $15.0 million of availability for the issuance of letters of credit. There were $0.4 million million of letters of credit outstanding under the Revolving Credit Facility as of September 29, 2017, which reduces the Company's borrowing capacity. The Company also had outstanding guarantees and letters of credit outside of its Revolving Credit Facility totaling $5.7 million as of September 29, 2017.

As part of obtaining financing in the ordinary course of business, the Company has issued guarantees related to certain of its capital lease obligations, equipment financing, lines of credit and real estate mortgages, which totaled $125.1 million as of September 29, 2017. The Company is also a guarantor of SCI LLC's non-collateralized loan with SMBC, which had a balance of $132.1 million as of September 29, 2017. See Note 7: ''Long-Term Debt'' for additional information.

Based on historical experience and information currently available, the Company believes that it will not be required to make payments under the standby letters of credit or guarantee arrangements for the foreseeable future.

Indemnification Contingencies

The Company is a party to a variety of agreements entered into in the ordinary course of business pursuant to which it may be obligated to indemnify the other parties for certain liabilities that arise out of or relate to the subject matter of the agreements. Some of the agreements entered into by the Company require it to indemnify the other party against losses due to IP infringement, property damage (including environmental contamination), personal injury, failure to comply with applicable laws, the Company’s negligence or willful misconduct or breach of representations and warranties and covenants related to such matters as title to sold assets.

The Company faces risk of exposure to warranty and product liability claims in the event that its products fail to perform as expected or such failure of its products results, or is alleged to result, in economic damage, bodily injury or property damage. In addition, if any of the Company’s designed products are alleged to be defective, the Company may be required to participate in their recall. Depending on the significance of any particular customer and other relevant factors, the Company may agree to provide more favorable rights to such customer for valid defective product claims.

The Company and its subsidiaries provide for indemnification of directors, officers and other persons in accordance with limited liability company operating agreements, certificates of incorporation, by-laws, articles of association or similar organizational documents, as the case may be. Section 145 of the Delaware General Corporation Law (“DGCL”) authorizes a court to award, or a corporation’s board of directors to grant, indemnity to directors and officers under certain circumstances and subject to certain limitations. The terms of Section 145 of the DGCL are sufficiently broad to permit indemnification under certain circumstances for liabilities, including reimbursement of expenses incurred, arising under the Exchange Act. As permitted by the DGCL, the Company’s Amended and Restated Certificate of Incorporation, as amended (the “Certificate of Incorporation”), contains provisions relating to the limitation of liability and indemnification of directors and officers. The Certificate of Incorporation eliminates the personal liability of each of the Company’s directors to the fullest extent permitted by Section 102(b)(7) of the DGCL, as it may be amended or supplemented, and provides that the Company will indemnify its directors and officers to the fullest extent permitted by Section 145 of the DGCL, as amended from time to time.

The Company has entered into indemnification agreements with each of its directors and executive officers. The form of agreement (the “Indemnification Agreement”) provides, subject to certain exceptions and conditions specified in the Indemnification Agreement, that the Company will indemnify each indemnitee to the fullest extent permitted by Delaware law against all expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with a proceeding or claim in which such person is involved because of his or her status as one of the Company’s directors or executive officers. In addition, the Indemnification Agreement provides that the Company will, to the extent not prohibited by law and subject to certain exceptions and repayment conditions, advance specified indemnifiable expenses incurred by the indemnitee in connection with such proceeding or claim. The foregoing description of the Indemnification Agreement does not purport to be complete and is qualified in its entirety by reference to the full and complete terms of the Indemnification Agreement, which is filed as Exhibit 10.1 to the Current Report on Form 8-K filed by the Company on February 25, 2016.

The Company also maintains directors’ and officers’ insurance policies that indemnify its directors and officers against various liabilities, including certain liabilities under the Exchange Act, that might be incurred by any director or officer in his or her capacity as such.

The Fairchild Agreement provides for indemnification and insurance rights in favor of Fairchild’s then current and former directors, officers and employees. Specifically, the Company has agreed that, for no fewer than six years following the Fairchild acquisition, the Company will: (a) indemnify and hold harmless each such indemnitee against losses and expenses (including advancement of attorneys’ fees and expenses) in connection with any proceeding asserted against the indemnified party in connection with such person’s servings as a director, officer, employee or other fiduciary of Fairchild or its subsidiaries prior to the effective time of the acquisition; (b) maintain in effect all provisions of the certificate of incorporation or bylaws of Fairchild or any of its subsidiaries or any other agreements of Fairchild or any of its subsidiaries with any indemnified party regarding elimination of liability, indemnification of officers, directors and employees and advancement of expenses in existence on the date of the Fairchild Agreement for acts or omissions occurring prior to the effective time of the acquisition; and (c) subject to certain qualifications, provide to Fairchild’s then current directors and officers an insurance and indemnification policy that provides coverage for events occurring prior to the effective time of the acquisition that is no less favorable than Fairchild’s then-existing policy, or, if insurance coverage that is no less favorable is unavailable, the best available coverage.

While the Company’s future obligations under certain agreements may contain limitations on liability for indemnification, other agreements do not contain such limitations and under such agreements it is not possible to predict the maximum potential amount of future payments due to the conditional nature of the Company’s obligations and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under any of these indemnities have not had a material effect on the Company’s business, financial condition, results of operations or cash flows. Additionally, the Company does not believe that any amounts that it may be required to pay under these indemnities in the future will be material to the Company’s business, financial position, results of operations or cash flows.

Legal Matters

From time to time, the Company is party to various legal proceedings arising in the ordinary course of business, including indemnification claims, claims of alleged infringement of patents, trademarks, copyrights and other intellectual property rights, claims of alleged non-compliance with contract provisions and claims related to alleged violations of laws and regulations. The Company regularly evaluates the status of the legal proceedings in which it is involved to assess whether a loss is probable or there is a reasonable possibility that a loss, or an additional loss, may have been incurred and determine if accruals are appropriate. If accruals are not appropriate, the Company further evaluates each legal proceeding to assess whether an estimate of possible loss or range of possible loss can be made for disclosure. Although litigation is inherently unpredictable, the Company believes that it has adequate provisions for any probable and estimable losses. It is possible, nevertheless, that the Company’s consolidated financial position, results of operations or liquidity could be materially and adversely affected in any particular period by the resolution of a legal proceeding. The Company’s estimates do not represent its maximum exposure. Legal expenses related to defense, negotiations, settlements, rulings and advice of outside legal counsel are expensed as incurred.

The Company is currently involved in a variety of legal matters that arise in the ordinary course of business. Based on information currently available, except as disclosed below, the Company is not involved in any pending or threatened legal proceedings that it believes could reasonably be expected to have a material adverse effect on its financial condition, results of operations or liquidity. The litigation process and the administrative process at the United States Patent and Trademark Office (the “USPTO”) are inherently uncertain, and the Company cannot guarantee that the outcome of these matters will be favorable to it.

Patent Litigation with Power Integrations, Inc.

There are seven outstanding civil litigation proceedings with Power Integrations, Inc. (“PI”), five of which were pending between PI and Fairchild prior to the acquisition of Fairchild. The Company is vigorously defending the lawsuits filed by PI and believes that it has strong defenses. There are also nine outstanding administrative proceedings in which the Company is challenging the validity of PI patents at the USPTO and ten outstanding administrative proceedings in which PI is challenging the validity of the Company's patents at the USPTO.

The outcome of any litigation is inherently uncertain and difficult to predict. Any estimate or statement in this Form 10-Q regarding any reserve or the estimated range of possible losses is made solely in compliance with applicable GAAP requirements and is not a statement or admission that the Company is or should be liable in any amount, or that any arguments, motions or appeals before any Court lack merit or are subject to impeachment. To the contrary, the Company believes that it has significant and meritorious grounds for judgment in its favor with respect to all of the PI cases and that the Company’s appeals or motions currently pending at the district court level will significantly reduce or eliminate all prior adverse jury verdicts. Subject to the foregoing, as of the date of the filing of this Form 10-Q, the Company estimates its range of possible losses for all PI cases to be between approximately $4 million and $20 million.

Power Integrations v. Fairchild Semiconductor International, Inc. et al. (October 20, 2004, Delaware, 1:04-cv-01371-LPS): PI filed this lawsuit in 2004 in the U.S. District Court for the District of Delaware against Fairchild and its wholly owned subsidiary, Fairchild Semiconductor Corporation, alleging that certain of Fairchild’s pulse width modulation (“PWM”) integrated circuit products infringed four PI U.S. patents and seeking a permanent injunction preventing Fairchild from manufacturing, selling or offering the products for sale in the United States, or from importing the products into the United States, as well as money damages for past infringement. In October 2006, a jury returned a verdict finding that 33 of Fairchild’s PWM products willfully infringed one or more of seven claims asserted in the four patents and assessed damages against Fairchild. Fairchild voluntarily stopped U.S. sales and importation of those products in 2007 and has been offering replacement products since 2006. In December 2008, the judge overseeing the case reduced the jury’s 2006 damages award from $34.0 million to approximately $6.1 million and ordered a new trial on the issue of willfulness. Following the new trial held in June 2009, the court found Fairchild’s infringement to have been willful, and in January 2011 the court awarded PI final damages in the amount of $12.2 million. Fairchild appealed the final damages award, willfulness finding, and other issues to the U.S. Court of Appeals for the Federal Circuit. In March 2013, the Court of Appeals vacated substantially all of the damages award, ruling that there was no basis upon which a reasonable jury could find Fairchild liable for induced infringement. The Court of Appeals also vacated the earlier judgment of willful patent infringement. The full Court of Appeals and the Supreme Court of the United States have since denied PI’s request to review the Court of Appeals ruling. The Court of Appeals instructed the lower court to conduct further proceedings to determine damages based on approximately $500,000 to $750,000 worth of sales and imports of affected products, and this case remains in the District Court of Delaware on this basis. The Company believes that damages on the basis of that level of infringing activity would not be material. PI has further requested the lower court to reinstate the earlier judgment of willful infringement, and that request remains pending with the court.

Power Integrations v. Fairchild Semiconductor International, Inc. et al. (May 23, 2008, Delaware, 1:08-cv-00309-LPS): This lawsuit was initiated by PI in 2008 in the U.S. District Court for the District of Delaware against Fairchild, Fairchild Semiconductor Corporation and its wholly owned subsidiary, System General Corporation (now named Fairchild (Taiwan) Corporation), alleging infringement of three patents. Of the three patents asserted in this lawsuit, two had been asserted against Fairchild and Fairchild Semiconductor Corporation in the October 2004 lawsuit described above. In 2011, PI added a fourth patent to this case. On October 14, 2008, Fairchild Semiconductor Corporation and System General Corporation filed a patent infringement lawsuit against PI in the U.S. District Court for the District of Delaware, alleging that certain PWM integrated circuit products infringe one or more of two U.S. patents owned by System General Corporation. The lawsuit sought monetary damages and an injunction preventing the manufacture, use, sale, offer for sale or importation of PI products found to infringe the asserted patents. The lawsuits were consolidated and heard together in a jury trial in April 2012, during which the jury found that PI infringed one of the two U.S. patents owned by Fairchild (Taiwan) Corporation and upheld the validity of both of the Fairchild (Taiwan) Corporation patents. In the same verdict, the jury found that Fairchild infringed two of four U.S. patents asserted by PI and that Fairchild had induced its customers to infringe the asserted patents. (The court later ruled that Fairchild infringed one other asserted PI patent that the jury found was not infringed.) The jury also upheld the validity of the asserted PI patents. On June 30, 2014, the court issued an order enjoining Fairchild from making, using, selling, offering to sell or importing into the United States the products found to infringe the PI patents as well as certain products that were similar to the products found to infringe. Willfulness and damages will be determined in the next phase of the case. Fairchild and PI appealed the liability phase of this trial to the U.S. Court of Appeals for the Federal Circuit, which heard arguments in July 2016 and issued a decision in December 2016. In the decision, the appeals court vacated the jury’s finding that Fairchild induced infringement of PI’s patents, held that one of PI’s patents was invalid, vacated the permanent injunction against Fairchild, reversed the jury’s finding that PI infringed the Fairchild (Taiwan) Corporation patent, and remanded the case back to the lower court for further proceedings consistent with these rulings. The Company expects a re-trial on the remaining issues in 2018.

Power Integrations v. Fairchild Semiconductor International Inc. et al. (November 4, 2009, Northern District of California, 3:09-cv-05235-MMC): In 2009, PI sued Fairchild in the U.S. District Court for the Northern District of California, alleging that several of Fairchild’s products infringe three of PI’s patents. Fairchild filed counterclaims asserting that PI infringed two Fairchild patents. A trial was held in February 2014 on two PI patents and one Fairchild patent. In March 2014, the jury found that Fairchild willfully infringed both PI patents, awarding PI $105.0 million in damages and finding that PI did not infringe the Fairchild patent. Both parties filed various post-trial motions, which were denied by the court with the exception of Fairchild’s motion to set aside the jury’s determination that it acted willfully. In September 2014, the court granted Fairchild’s motion and determined that, as a matter of law, Fairchild’s actions were not willful. Fairchild continued to challenge several other aspects of the verdict during post-trial review. Specifically, Fairchild asserted that the damages award included legal and evidentiary defects that were inconsistent with recent rulings by the U.S. Court of Appeals for the Federal Circuit. In November 2014, the trial court ruled that the jury lacked sufficient evidence on which to base its damages award and, consequently, vacated the $105.0 million verdict and ordered a second trial on damages. In February 2015, the court denied PI’s request to enjoin the Fairchild products that were found to infringe, finding, among other things, that the evidence at trial failed to establish a causal connection between the alleged harm and the alleged infringement. The court ruled that PI could request an injunction after the second trial on damages, but PI has since indicated that it no longer intends to pursue a permanent injunction. The second damages trial was held in December 2015. In December 2015, a jury awarded PI $139.8 million in damages. Fairchild filed a number of post-trial motions challenging the verdict on several grounds, including several that are similar to challenges to the earlier damages verdict in the case, and the court ruled against Fairchild on these motions and awarded PI approximately $7.0 million in pre-judgment interest. Following the court’s rulings on these issues, PI moved the court for the enhanced damages and attorneys’ fees in January 2016, and Fairchild opposed that motion. On January 23, 2017 the court reinstated the jury’s willful infringement finding from March 2014, but denied PI’s motion for enhanced damages and attorneys’ fees in its entirety. The Company has filed a notice of appeal with the U.S. Court of Appeals for the Federal Circuit with respect to the current damages award as well as the 2014 verdict finding that PI’s patents were infringed and valid. The appeal briefing is complete, and the parties are currently waiting for the Federal Circuit to schedule oral arguments. On May 26, 2017, the district court ordered Fairchild to obtain a bond for the judgment pending appeal, and on June 22, 2017, the district court accepted Fairchild’s bond and stayed execution of judgment. All claims of the two PI patents found to be infringed by Fairchild are also under review in already-instituted inter partes administrative proceedings at the USPTO. On September 22, 2017, the USPTO issued a Final Written Decision regarding one of the patents at issue in this litigation, which held that all of the claims asserted by PI in this litigation are unpatentable. On October 18, 2017, the USPTO issued a Final Written Decision regarding the administrative proceeding for the other patent at issue in this litigation, which held that all of the claims from the patent asserted by PI in this litigation are unpatentable. PI may appeal the USPTO’s Final Written Decision regarding the unpatentability of those claims. The impact of the USPTO’s Final Written Decisions on the district court judgment is uncertain at this stage of the proceedings.

Fairchild Semiconductor International Inc. et al. v. Power Integrations (May 1, 2012, Delaware, 1:12-cv-00540-LPS): In May 2012, Fairchild sued PI in the U.S. District Court for the District of Delaware. The lawsuit accuses PI’s LinkSwitch-PH LED power conversion products of violating three of Fairchild’s patents. PI filed counterclaims of patent infringement against Fairchild, asserting five PI patents. Of those five patents, the court granted Fairchild summary judgment of no infringement on one, and PI voluntarily withdrew a second and was forced to remove a third patent during the trial, which began in May 2015. In June 2015, the jury found that PI induced infringement of Fairchild’s patent rights and awarded Fairchild $2.4 million in damages. The same jury found that Fairchild infringed a PI patent and awarded PI damages of $100,000. Based on the December 2016 appellate court decision in the litigation filed in Delaware in 2008 (described above), on July 13, 2017, the district court vacated the jury’s finding that PI infringed Fairchild’s patent. The court has yet to enter a final judgment in this case due to continued overlapping legal issues from the appellate decision in the 2008 Delaware case.

Power Integrations v. Fairchild Semiconductor International Inc. et al. (October 21, 2015, Northern District of California, 3:15-cv-04854 MMC): In 2015, PI filed another complaint for patent infringement against Fairchild in the U.S. District Court for the Northern District of California, alleging Fairchild’s switch mode power supply products willfully infringed two PI patents related to frequency jitter and light load frequency reduction. In the complaint, PI is seeking a permanent injunction, unspecified damages, a trebling of damages, and an accounting of costs and fees. Fairchild answered and counterclaimed, alleging infringement by PI of four Fairchild patents related to aspects of PI’s power conversion products. PI has asked the USPTO to institute inter partes administrative proceedings on certain of the asserted claims of Fairchild’s patents. The lawsuit is in its earliest stages and has been stayed pending the outcome of the Company’s administrative challenges to the two PI patents asserted against Fairchild.

Power Integrations v. ON Semiconductor Corporation, and Semiconductor Components Industries, LLC (November 1, 2016, Northern District of California, 5:16-cv-06371-BLF and 5:17-cv-03189): This lawsuit was initiated by PI in 2016 in the U.S. District Court for the Northern District of California against the Company and SCI LLC (collectively, “ON Semi”), alleging infringement of six PI patents. Of the six PI patents asserted in this lawsuit, two overlap with ON Semi’s declaratory judgment claims in its August 2016 lawsuit in Arizona (which has since been consolidated with this lawsuit) and are subject to ON Semi’s administrative challenges to those patents currently pending at the USPTO. In the complaint, PI alleges infringement and seeks a permanent injunction, unspecified damages, treble damages and an accounting of costs and fees.

On August 11, 2016, ON Semi, filed a lawsuit against PI in the U.S. District Court for the District of Arizona (August 11, 2016, Arizona, 2:16-cv-02720-BLF). In the Arizona lawsuit, ON Semi asserted claims of patent infringement on six of its patents related to aspects of PI’s power conversion products. In the complaint, ON Semi sought a permanent injunction, unspecified damages, a trebling of damages and an accounting of costs and fees. The Arizona lawsuit also sought a claim for a declaratory judgment for ON Semi of non-infringement of three of PI’s patents. All three of the PI patents at issue in the declaratory judgment claims are subject to ON Semi’s administrative challenges to those patents currently pending at the USPTO. PI moved to dismiss the Arizona lawsuit for lack of jurisdiction and venue or, alternatively, to transfer the Arizona lawsuit to the Northern District of California based on this lawsuit. On June 6, 2017, the Arizona court transferred the Arizona lawsuit to the Northern District of California, where it has since been consolidated with this lawsuit. As such, the Arizona action is no longer active.

On August 14, 2017, ON Semi amended its complaint filed this consolidation action to assert claims of patent infringement on eight of its patents related to aspects of PI’s power conversion products. ON Semi continues to seek a permanent injunction, unspecified damages, treble damages and an accounting of costs and fees. ON Semi’s amended complaint also seeks a declaratory judgment for ON Semi for non-infringement and invalidity of one of PI’s patents. The lawsuit is in its earliest stages.

ON Semiconductor Corporation and Semiconductor Components Industries, LLC v. Power Integrations, Inc. (March 9, 2017, District of Delaware, 1:17-cv-00247-LPS-CJB): ON Semi filed a lawsuit against PI in the U.S. District Court for the District of Delaware, asserting asserted claims of patent infringement on six of its patents directed to aspects of PI’s InnoSwitch family of products. In the complaint, ON Semi is seeking a permanent injunction, unspecified damages, treble damages and an accounting of costs and fees. PI answered ON Semi’s complaint on September 29, 2017 and asserted counterclaims alleging infringement by ON Semi of seven PI patents, certain of which are subject to various invalidity proceedings, including ON Semi’s administrative challenges described below as well as a previous reexamination filed by Fairchild. ON Semi has not yet answered PI’s counterclaims in this case. The lawsuit is in its earliest stages.

Administrative Challenges to PI’s Patents

Between March and August 2016, SCI LLC petitioned the USPTO to institute 12 inter partes reviews, each requesting cancellation of certain claims of six patents owned by PI that have been asserted against the Company, SCI LLC and Fairchild. The USPTO has instituted an inter partes trial, has indicated that SCI LLC is likely to prevail in showing that the challenged claims are unpatentable in nine out of the 12 petitions it has reviewed. SCI LLC expects that each inter partes review proceeding will terminate in a Final Written Decision on the patentability of the challenged claims for which review has or will be instituted within one year from institution. On September 22, 2017, the USPTO issued a Final Written Decision for the first of the nine instituted proceedings, which held that all of the claims challenged in that proceeding are unpatentable. On October 18, 2017, the USPTO issued another Final Written Decision for the second of the nine instituted proceedings, which also held that all of the claims challenged in that proceeding are unpatentable. PI may appeal the USPTO’s Final Written Decision regarding the unpatentability of those claims. The impact of the USPTO’s Final Written Decision on the district court cases described above is uncertain at this stage of the proceedings. The Company expects Final Written Decisions for the remaining seven instituted proceedings to be issued in the first quarter of 2018.

Between May and August 2017, PI petitioned the USPTO to institute 10 inter parties reviews, each requesting cancellation of certain claims of seven patents owned by ON Semi that have been asserted against PI. The USPTO has not yet issued any decisions regarding the merits of PI’s administrative challenges to ON Semi’s patents.

Litigation with Acbel Polytech, Inc.

On November 27, 2013, Fairchild and Fairchild Semiconductor Corporation were named as defendants in a complaint filed by Acbel Polytech, Inc. (“Acbel”) in the U.S. District Court for the District of Massachusetts. The lawsuit alleged a number of causes of action, including breach of warranty, fraud, negligence and strict liability, and has been docketed as Acbel Polytech, Inc. v. Fairchild Semiconductor International, Inc. et al, Case # 1:13-CV-13046-DJC. On December 10, 2016, the Court issued an order on the Company’s motion for summary judgment dismissing all of Acbel’s claims except for claims alleging breach of implied warranties. A bench trial was held in June 2017, and the Court has not yet rendered a verdict. Although Acbel is seeking damages of approximately $17.0 million, the Company is vigorously defending the lawsuit and believes that it has strong defenses.

Intellectual Property Matters

The Company faces risk to exposure from claims of infringement of the IP rights of others. In the ordinary course of business, the Company receives letters asserting that the Company’s products or components breach another party’s rights. These threats may seek that the Company make royalty payments, stop use of such rights, or other remedies.

Fair Value Measurements

9 Months Ended

Sep. 29, 2017

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 11: Fair Value Measurements

Fair Value of Financial Instruments

Summarized information with respect to certain of the Company's financial assets and liabilities measured at fair value on a recurring basis as of September 29, 2017 and December 31, 2016 is as follows (in millions):



			Fair Value Measurements as of September 29, 2017
Description	Balance as of September 29, 2017		Level 1		Level 2		Level 3
Assets:
Cash and Cash equivalents:
Demand and time deposits	$	20.8	$	20.8	$	—	$	—
Money market funds	0.3		0.3		—		—
Liabilities:
Contingent consideration	6.5		—		—		6.5



			Fair Value Measurements as of December 31, 2016
Description	Balance as of December 31, 2016		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents:
Demand and time deposits	$	67.2	$	67.2	$	—	$	—
Money market funds	30.3		30.3		—		—
Liabilities:
Contingent consideration	4.5		—		—		4.5

Other

The carrying amounts of other current assets and liabilities, such as accounts receivable and accounts payable, approximate fair value based on the short-term nature of these instruments.

Fair Value of Long-Term Debt, Including Current Portion

The carrying amounts and fair values of the Company’s long-term borrowings (excluding capital lease obligations, real estate mortgages and equipment financing) as of September 29, 2017 and December 31, 2016 are as follows (in millions):



	September 29, 2017				December 31, 2016
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Long-term debt, including current portion
Convertible notes	$	1,070.1	$	1,489.7	$	953.6	$	1,160.9
Long-term debt	$	1,832.0	$	1,849.9	$	2,616.3	$	2,731.5

The fair value of the Company's 1.00% Notes, 1.625% Notes and Term Loan "B" Facility were estimated based on market prices in active markets (Level 1). The fair value of other long-term debt was estimated based on discounting the remaining principal and interest payments using current market rates for similar debt (Level 2) as of September 29, 2017 and December 31, 2016.

Cost Method Investments

Investments in equity securities that do not qualify for fair value accounting are accounted for under the cost method. Accordingly, the Company accounts for investments in companies that it does not control, or have significant influence over, under the cost method, as applicable. If a decline in the fair value of a cost method investment is determined to be other than temporary, an impairment charge is recorded, and the carrying value of the cost method investment is reduced to fair value. The Company evaluates all of its cost method investments for impairment; however, it is not required to determine the fair value of its investment unless impairment indicators are present.

As of September 29, 2017 and December 31, 2016, the Company’s cost method investments had a carrying value of $12.6 million and $12.3 million, respectively.

On October 10, 2017, ON Semiconductor and Fujitsu Semiconductor Limited ("Fujitsu") announced that ON Semiconductor will purchase a 30 percent incremental share of Fujitsu’s 8-inch wafer fab in Aizu-Wakamatsu, resulting in a 40 percent ownership when the purchase is completed, at which time the Company would pay a purchase price of approximately $18.0 million in cash. The purchase is scheduled to be completed on April 1, 2018 (the "second closing date"), subject to certain regulatory approvals and other customary closing conditions. The Company will be required to increase its ownership to 60 percent between one and three months following the second closing date (the "third closing date") and will be required to increase its ownership to 100 percent between nine and 21 months following the third closing date.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Financial Instruments

9 Months Ended

Sep. 29, 2017

Investments, All Other Investments [Abstract]

Financial Instruments

Note 12: Financial Instruments

Foreign Currencies

As a multinational business, the Company’s transactions are denominated in a variety of currencies. When appropriate, the Company uses forward foreign currency contracts to reduce its overall exposure to the effects of currency fluctuations on its results of operations and cash flows. The Company’s policy prohibits trading in currencies for which there are no underlying exposures, or entering into trades for any currency to intentionally increase the underlying exposure.

The Company primarily hedges existing assets and liabilities associated with transactions currently on its balance sheet, which are undesignated hedges for accounting purposes.

As of September 29, 2017 and December 31, 2016, the Company had net outstanding foreign exchange contracts with notional amounts of $167.0 million and $95.9 million, respectively. Such contracts were obtained through financial institutions and were scheduled to mature within one to three months from the time of purchase. Management believes that these financial instruments should not subject the Company to increased risks from foreign exchange movements because gains and losses on these contracts should offset losses and gains on the underlying assets, liabilities and transactions to which they are related.

The following summarizes the Company’s net foreign exchange positions in U.S. dollars as of September 29, 2017 and December 31, 2016 (in millions):



	September 29, 2017					December 31, 2016
	Buy (Sell)			Notional Amount		Buy (Sell)			Notional Amount
Euro	$	(47.7	)	$	47.7	$	(25.4	)	$	25.4
Japanese Yen	(47.7		)	47.7		(33.7		)	33.7
Philippine Peso	23.5			23.5		15.8			15.8
Other Currencies - Buy	34.0			34.0		(6.1		)	6.1
Other Currencies - Sell	(14.1		)	14.1		14.9			14.9
	$	(52.0	)	$	167.0	$	(34.5	)	$	95.9

The Company is exposed to credit-related losses if counterparties to its foreign exchange contracts fail to perform their obligations. As of September 29, 2017, the counterparties to the Company’s foreign currency hedge contracts as well as the cash flow hedges described below are held at financial institutions which the Company believes to be highly rated, and no credit-related losses are anticipated. Amounts receivable or payable under the contracts are included in other current assets or accrued expenses in the accompanying Consolidated Balance Sheet. For the quarters ended September 29, 2017 and September 30, 2016, realized and unrealized foreign currency transactions totaled a $2.6 million gain and a $0.5 million loss, respectively. For the nine months ended September 29, 2017 and September 30, 2016, realized and unrealized foreign currency transactions totaled a $5.4 million loss and a $3.8 million loss, respectively. The realized and unrealized foreign currency transactions are included in other income and expenses in the Company's Consolidated Statements of Operations and Comprehensive Income.

Cash Flow Hedges

All derivatives are recognized on the balance sheet at their fair value and classified based on the instrument's maturity date.

Foreign currency risk

The purpose of the Company's foreign currency hedging activities is to protect the Company from the risk that the eventual cash flows resulting from transactions in foreign currencies will be adversely affected by changes in exchange rates. The Company enters into forward contracts that are designated as foreign currency cash flow hedges of selected forecasted payments denominated in currencies other than U.S. dollars.

For each of the quarter and nine months ended September 29, 2017, the Company recorded a net loss of zero, and for the quarter and nine months ended September 30, 2016, the Company recorded a net loss of zero and $0.2 million, respectively, in all cases associated with cash flow hedges recognized as a component of cost of revenues.

Interest rate risk

The Company uses interest rate swap contracts to mitigate its exposure to interest rate fluctuations associated with the Term Loan "B" Facility. The Company does not use such swap contracts for speculative or trading purposes.

To partially offset the variability of future interest payments on the outstanding Term Loan “B” Facility arising from changes in LIBOR rates, on January 11, 2017, the Company entered into interest rate swap agreements with three financial institutions for notional amounts totaling $500.0 million (effective as of January 11, 2017), $750.0 million (effective as of December 30, 2017) and $1.0 billion (effective as of January 1, 2019) with expiry dates of December 29, 2017, December 31, 2018 and December 31, 2019, respectively. These agreements effectively hedge some of the future variable rate LIBOR interest expense to a fixed rate interest expense. The derivative instruments qualified for accounting as a cash flow hedge in accordance with ASC 815, and the Company designated it as such. The Company has performed an effectiveness assessment and concluded that there is no ineffectiveness during the quarter and nine months ended September 29, 2017. As of September 29, 2017, the aggregate notional value of the interest rate swap contracts was $500.0 million.

The Company did not have any interest rate swap contracts outstanding during the quarter and nine months ended September 30, 2016.

See Note 14: “Changes in Accumulated Other Comprehensive Loss” for the effective amounts related to derivative instruments designated as cash flow hedges affecting accumulated other comprehensive loss and the Company's Consolidated Statements of Operations and Comprehensive Income for the nine months ended September 29, 2017.

Convertible Note Hedges

The Company entered into convertible note hedges in connection with the issuance of the 1.625% Notes. See Note 7: “Long-Term Debt” for further details.

Income Taxes	9 Months Ended
Income Taxes	Sep. 29, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Note 13: Income Taxes The Company has historically determined its interim income tax provision by applying the estimated effective income tax rate expected to be applicable for the full fiscal year to the income before income taxes for the period. In determining the full year estimate, the Company does not include the estimated impact of unusual and/or infrequent items, which may cause significant variations in the customary relationship between income tax expense and income before income taxes. Significant judgment is exercised in determining the income tax provision due to transactions, credits and calculations where the ultimate tax determination is uncertain. ASU 2016-09 requires the tax effects of all equity award excess tax benefits to be recognized discretely in the quarter in which they occur. The Company’s effective tax rate for the quarter ended September 29, 2017 was 35.3%, including the discrete benefit resulting from ASU 2016-09. The Company recognizes interest and penalties related to unrecognized tax benefits in tax expense on the Company's Consolidated Statements of Operations and Comprehensive Income. The Company had approximately $5.3 million and $4.7 million of net interest and penalties accrued at September 29, 2017 and September 30, 2016, respectively. Although the Company cannot predict the timing of resolution with taxing authorities, if any, it believes it is reasonably possible that $9.0 million of its unrecognized tax benefits will be reduced in the next 12 months due to settlement with tax authorities or expiration of the applicable statute of limitations. Tax years 2013 and prior are generally not subject to examination by the Internal Revenue Services (the “IRS”) except for items involving tax attributes that have been carried forward to tax years whose statute of limitations remains open. The Company is not currently under IRS examination. For state tax returns, the Company is generally not subject to income tax examinations for years 2012 and prior. The Company is also subject to routine examinations by various foreign tax jurisdictions in which it operates. With respect to major jurisdictions outside the United States, the Company's subsidiaries are no longer subject to income tax audits for years prior to 2006. The Company is currently under audit in the following significant jurisdictions: China, Malaysia, Philippines, Singapore and Vietnam.

Changes in Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 29, 2017

Equity [Abstract]

Changes in Accumulated Other Comprehensive Loss

Note 14: Changes in Accumulated Other Comprehensive Loss

Amounts comprising the Company's accumulated other comprehensive loss and reclassifications for the nine months ended September 29, 2017 are as follows (net of tax benefit of $0.2, in millions):



	Foreign Currency Translation Adjustments			Effects of Cash Flow Hedges			Total
Balance as of December 31, 2016	$	(50.2	)	$	—		$	(50.2	)
Other comprehensive income (loss) prior to reclassifications ^{(1) (2)}	6.9			(0.6		)	6.3
Amounts reclassified from accumulated other comprehensive loss	—			0.1			0.1
Net current period other comprehensive income (loss)	6.9			(0.5		)	6.4
Balance as of September 29, 2017	$	(43.3	)	$	(0.5	)	$	(43.8	)

(1) Foreign currency translation adjustments are net of tax of zero for the nine months ended September 29, 2017.

(2) Effects of cash flow hedges are net of tax of $0.3 million of tax benefit for the nine months ended September 29, 2017.

Amounts which were reclassified from accumulated other comprehensive loss to the Company's Consolidated Statements of Operations and Comprehensive Income during the quarters and nine months ended September 29, 2017 and September 30, 2016, respectively, were as follows (net of tax of zero, in millions):



	Amounts Reclassified from Accumulated Other Comprehensive Loss
	Quarter Ended					Nine Months Ended
	September 29, 2017			September 30, 2016		September 29, 2017			September 30, 2016		Statement of Operations and Comprehensive Income Line Item
Foreign currency hedges	$	—		$	—	$	—		$	0.2	Cost of revenues
Interest rate swaps	(0.3		)	—		(0.1		)	—		Other income and expense
Total reclassifications	$	(0.3	)	$	—	$	(0.1	)	$	0.2

Supplemental Disclosures

9 Months Ended

Sep. 29, 2017

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosures

Note 15: Supplemental Disclosures

Supplemental Disclosure of Cash Flow Information

Certain of the Company's non-cash activities along with cash payments for interest and income taxes are as follows (in millions):



	Nine Months Ended
	September 29, 2017			September 30, 2016
Non-cash activities:
Debt issuance costs paid directly from escrow accounts	$	—		$	46.0
Capital expenditures in accounts payable and other liabilities	$	213.4		$	88.3
Cash (received) paid for:
Interest income	$	(1.8	)	$	(3.8	)
Interest expense	$	67.4		$	72.7
Income taxes	$	48.9		$	19.1

Segment Information

9 Months Ended

Sep. 29, 2017

Segment Reporting [Abstract]

Segment Information

Note 16: Segment Information

During the third quarter of 2016, the Company realigned its segments into three operating segments to optimize efficiencies resulting from the acquisition of Fairchild. These operating segments also represent its three reporting segments: Power Solutions Group, Analog Solutions Group, and Image Sensor Group. The results of the System Solutions Group, which was previously the Company's fourth operating segment, and which did not have goodwill, are now part of the three operating segments and previously-reported information has been presented based on the new structure to reflect the current organizational structure. The Company's Power and Analog Solutions Groups include the business acquired from Fairchild.

Each of the Company's major product lines has been examined, and each product line has been assigned to a reportable segment based on the Company's operating strategy. Because many products are sold into different end-markets, the total revenues reported for a segment is not indicative of actual sales in the end-market associated with that segment, but rather is the sum of the revenues from the product lines assigned to that segment. These segments represent the Company's view of the business and as such are used to evaluate progress of major initiatives and allocation of resources.

Revenues and gross profit for the Company’s reportable segments for the quarters and nine months ended September 29, 2017 and September 30, 2016 are as follows (in millions):



	Power Solutions Group		Analog Solutions Group		Image Sensor Group		Total
For the quarter ended September 29, 2017:
Revenues from external customers	$	706.4	$	491.6	$	192.9	$	1,390.9
Gross profit	$	244.1	$	208.3	$	81.0	$	533.4
For the quarter ended September 30, 2016:
Revenues from external customers	$	407.8	$	363.1	$	180.0	$	950.9
Gross profit	$	142.2	$	144.4	$	57.4	$	344.0

For the nine months ended September 29, 2017:
Revenues from external customers	$	2,121.6	$	1,463.7	$	580.3	$	4,165.6
Gross profit	$	716.7	$	613.5	$	223.4	$	1,553.6
For the nine months ended September 30, 2016:
Revenues from external customers	$	1,088.4	$	1,012.0	$	545.5	$	2,645.9
Gross profit	$	361.9	$	404.1	$	179.9	$	945.9

Gross profit is exclusive of the amortization of acquisition-related intangible assets. Depreciation expense is included in segment gross profit. Reconciliations of segment gross profit to consolidated gross profit are as follows (in millions):



	Quarter Ended						Nine Months Ended
	September 29, 2017			September 30, 2016			September 29, 2017			September 30, 2016
Gross profit for reportable segments	$	533.4		$	344.0		$	1,553.6		$	945.9
Less: unallocated manufacturing costs	(9.2		)	(15.0		)	(34.0		)	(33.5		)
Consolidated Gross profit	$	524.2		$	329.0		$	1,519.6		$	912.4

The Company's consolidated assets are not specifically ascribed to its individual reporting segments. Rather, assets used in operations are generally shared across the Company's reporting segments.

The Company operates in various geographic locations. Sales to unaffiliated customers have little correlation with the location of manufacturers. It is therefore not meaningful to present gross profit by geographical location.

Revenues by geographic location, including local sales made by operations within each area, based on sales billed from the respective country, are summarized as follows (in millions):



	Quarter Ended				Nine Months Ended
	September 29, 2017		September 30, 2016		September 29, 2017		September 30, 2016
United States	$	171.3	$	140.7	$	560.2	$	421.1
Japan	110.4		85.3		321.4		251.2
Hong Kong	477.6		258.9		1,394.9		654.0
Singapore	360.7		281.4		1,038.6		783.8
United Kingdom	154.1		132.4		472.9		407.6
Other	116.8		52.2		377.6		128.2
	$	1,390.9	$	950.9	$	4,165.6	$	2,645.9

Property, plant and equipment, net by geographic location, is summarized as follows (in millions):



	As of September 29, 2017		As of December 31, 2016
United States	$	551.2	$	548.1
Korea	376.3		385.9
Malaysia	233.1		224.0
Philippines	416.7		381.7
China	243.3		217.7
Other	417.6		401.7
	$	2,238.2	$	2,159.1

For the quarters ended September 29, 2017 and September 30, 2016, there were no individual customers, including distributors, which accounted for 10% or more of the Company's total consolidated revenues.

Background and Basis of Presentation (Policies)	9 Months Ended
Background and Basis of Presentation (Policies)	Sep. 29, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revenue Recognition Policy	Revenue Recognition Policy The Company generates revenues from sales of its semiconductor products to OEMs, electronic manufacturing service providers and distributors. The Company also generates revenue, to a much lesser extent, from manufacturing and design services provided to customers. Revenue is recognized when persuasive evidence of an arrangement exists, title and risk of loss pass to the customer (generally upon shipment), the price is fixed or determinable and collectability is reasonably assured. Revenues are recorded net of provisions for related sales returns and allowances. Prior to the first quarter of 2017, for products sold to distributors who are entitled to returns and allowances (generally referred to as “ship and credit rights”), the Company recognized the related revenues and cost of revenues when it was informed by the distributor that it had resold the products to the end-user. This was due to the Company’s inability to reliably estimate up front the effects of the returns and allowances with these distributors for sales originating through the ON Semiconductor systems and processes. Legacy systems and processes of Fairchild Semiconductor International, Inc. (“Fairchild”) enable the Company to estimate up front the effects of returns and allowances provided to these distributors and thereby record the net revenues at the time of sale related to a legacy Fairchild system and process. The Company acquired Fairchild on September 19, 2016. When the company adopts ASU 2014-09, ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20 (see Note 2: “Recent Accounting Pronouncements”), one of the more significant impacts will be that it will not be permitted to defer revenue until sale by the distributor to the end customer, but rather, will be required to estimate the effects of returns and allowances provided to certain distributors and record revenue at the time of sale to the distributor. In anticipation of the adoption of the new standards, the Company had developed its internal systems, processes and controls for making the required estimates on the sales to these distributors. As a result of these process changes, during the first quarter of 2017, the Company was able to reliably estimate upfront the effects of returns and allowances and record revenues at the time of sales to these distributors. As a result of this change, the Company recognized $155.1 million in revenue during the first quarter of 2017. The impact of this change resulted in an increase of $59.0 million to income before income taxes, or $0.09 per basic and diluted share, for the first quarter of 2017 and for the nine months ended September 29, 2017. Additionally, the Company recorded accruals for the estimated returns from the distributors, which decreased revenues by $8.1 million and income before income taxes by $5.3 million for the first quarter of 2017 and for the nine months ended September 29, 2017. Although payment terms vary, most distributor agreements require payment within 30 days. Sales returns and allowances are estimated based on historical experience. The Company’s OEM customers do not have the right to return products, other than pursuant to the provisions of the Company’s standard warranty. Sales to distributors, however, are typically made pursuant to agreements that provide return rights with respect to discontinued or slow-moving products. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related revenues are recognized, and are netted against revenues. The Company reviews warranty and related claims activities and records provisions, as necessary. Freight and handling costs are included in cost of revenues and are recognized as period expense when incurred. Taxes assessed by government authorities on revenue-producing transactions, including value-added and excise taxes, are presented on a net basis (excluded from revenues) in the statement of operations.
Use of Estimates	Use of Estimates 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 revenues and expenses during the reporting period. Significant estimates have been used by management in conjunction with the following: (i) estimates of future payouts for customer incentives and estimates of amounts subject to allowances, returns and warranties; (ii) measurement of valuation allowances relating to inventories and trade receivables; (iii) future cash flows used to assess and test for impairment of goodwill and long-lived assets, if applicable; (iv) assumptions surrounding future pension obligations; (v) fair values of share-based compensation and of financial instruments (including derivative financial instruments); (vi) measurement of valuation allowances against deferred tax assets and evaluations of uncertain tax positions; and (vii) estimates and assumptions used in connection with business combinations. Actual results could differ from these estimates.
Recent Accounting Pronouncements	Note 2: Recent Accounting Pronouncements ASUs Adopted: ASU No 2017-04 - Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment ('ASU 2017-04') In January 2017, the FASB issued ASU 2017-04, which simplifies the accounting for goodwill impairment. The guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain largely unchanged. The amendment is effective for calendar year-end SEC filers in 2020, and early adoption is permitted. The Company early adopted ASU 2017-04 during the first quarter of 2017. The adoption of this standard did not impact the Company's financial statements. ASU No. 2016-09 - Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting ('ASU 2016-09') In March 2016, the FASB issued ASU 2016-09, which is intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact, classification on the statement of cash flows and forfeitures. The amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption was permitted. ASU 2016-09, which the Company adopted as of the first quarter of 2017, requires that excess tax benefits and tax deficiencies (including tax benefits of dividends on share-based payment awards) be recognized as income tax expense or benefit in the income statement. The tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. Excess tax benefits should be recognized regardless of whether the benefit reduces taxes payable in the current period. Previously, the Company followed the guidance that the tax benefit and credit to APIC for a windfall tax benefit should not be recorded until the deduction reduces income taxes payable. The Company has been historically in a net taxable loss. Therefore, the windfall tax benefit has not reduced income taxes payable. The new guidance requires all excess tax benefits that were not previously recognized because the related tax deduction had not reduced current taxes payable to be recorded on a modified retrospective basis through a cumulative effect adjustment to retained earnings as of the beginning of the period in which the new guidance was adopted. The financial statement impact of this change resulted in $68.1 million being recorded as a credit to retained earnings as of January 1, 2017. On a prospective basis, the impact of windfalls and shortfalls will be recorded to income tax expense on a discrete basis. The Company will continue to classify employee taxes paid on the statement of cash flows when ON Semiconductor withholds shares for tax-withholding purposes as a financing activity. The Company will continue to estimate forfeitures as part of share based compensation expense recognition. ASU No. 2015-11 - Inventory (Topic 330): Simplifying the Measurement of Inventory ('ASU 2015-11') In July 2015, the FASB issued ASU 2015-11, which requires that an entity should measure in-scope inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption was permitted. The Company adopted ASU 2015-11 during the first quarter of 2017. The adoption of this standard did not have a material impact on the financial statements. ASUs Pending Adoption: ASU No. 2017-12 - Derivatives and Hedging (topic 815): Targeted Improvements to Accounting for Hedging Activities ('ASU 2017-12') In August 2017, the FASB issued ASU No. 2017-12 to better align hedge accounting with risk management strategies, and as a result, more hedging strategies will be eligible for hedge accounting. Public business entities will have until the end of the first quarter in which a hedge is designated to perform an initial assessment of a hedge’s effectiveness. After initial qualification, the new guidance permits a qualitative effectiveness assessment for certain hedges instead of a quantitative test, if the company can reasonably support an expectation of high effectiveness throughout the term of the hedge. An initial quantitative test to establish that the hedge relationship is highly effective is still required. The amendments are effective for fiscal years beginning after December 15, 2018. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of ASU 2017-12 may have on its consolidated financial statements. ASU No. 2017-09 - Scope of Modification Accounting ('ASU 2017-09') In May 2017, the FASB issued ASU No. 2017-09 to reduce diversity in practice and provide clarity regarding existing guidance in ASC 718, “Stock Compensation.” The amendments clarify that an entity should apply modification accounting in response to a change in the terms and conditions of an entity’s share-based payment awards unless three newly specified criteria are met. The amendments are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company does not anticipate the adoption of ASU 2017-09 to have a material impact on its consolidated financial statements. ASU No 2017-07 - Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost ('ASU 2017-07') In March 2017, the FASB issued ASU 2017-07 primarily to improve the presentation of net periodic pension cost and net periodic postretirement benefit cost. The guidance will require the net benefit cost to be split in the income statement. The service cost component will be included in operating income. The other components, including amortization of past service costs or credits, and settlement and curtailments amounts, will be reported separately outside of operating income. The amendment is effective for fiscal years beginning after December 15, 2017. Early adoption is permitted at the beginning of an annual period (in the first interim period) for which financial statements have not yet been issued. The Company does not anticipate the adoption of ASU 2017-07 to have a material impact on its consolidated financial statements. ASU No. 2016-18 - Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force) ('ASU 2016-18') In November 2016, the FASB issued ASU 2016-18, which requires entities to include in their cash and cash-equivalent balances in the statement of cash flows those amounts that are deemed to be restricted cash and restricted cash equivalents. The ASU does not define the terms “restricted cash” and “restricted cash equivalents.” The amendments are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company does not anticipate the adoption of ASU 2016-18 to have a material impact on its consolidated financial statements. ASU No. 2016-16 - Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory ('ASU 2016-16') In October 2016, the FASB issued ASU 2016-16, which eliminates the exception for all intra-entity sales of assets other than inventory. As a result, a reporting entity would recognize the tax expense from the sale of the asset in the seller’s tax jurisdiction when the transfer occurs, even though the pre-tax effects of that transaction are eliminated in consolidation. Any deferred tax asset that arises in the buyer’s jurisdiction would also be recognized at the time of the transfer. The new guidance does not apply to intra-entity transfers of inventory. The income tax consequences from the sale of inventory from one member of a consolidated entity to another will continue to be deferred until the inventory is sold to a third party. The amendments are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company does not anticipate the adoption of ASU 2016-16 to have a material impact on its consolidated financial statements. ASU No. 2016-15 - Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments ('ASU 2016-15') In August 2016, the FASB issued ASU 2016-15, which changes how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company does not anticipate the adoption of ASU 2016-15 to have a material impact on its consolidated financial statements. ASU No. 2016-02 - Leases (Topic 842) ('ASU 2016-02') In February 2016, the FASB issued ASU 2016-02, which amends the accounting treatment for leases. The amendments are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Lessees (for capital and operating leases) and lessors (for sales-type leases, direct financing leases, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of ASU 2016-02 may have on its consolidated financial statements. ASU No. 2014-09 - Revenue from Contracts with Customers (Topic 606) ('ASU 2014-09'), ASU No. 2015-14 - Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date ('ASU 2015-14'), ASU No. 2016-08 - Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations ('ASU 2016-08'), ASU No. 2016-10 - Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing ('ASU 2016-10') ASU No. 2016-12 - Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients ('ASU 2016-12') and ASU No. 2016-20 - Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers” ('ASU 2016-20') In May 2014, the FASB issued ASU 2014-09, which applies to any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of non-financial assets, unless those contracts are within the scope of other standards, superseding the existing revenue recognition requirements in ASC Topic 605 “Revenue Recognition.” Pursuant to ASU 2014-09, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange, as applied through a multi-step process to achieve that core principle. Subsequently, the FASB approved a deferral included in ASU 2015-14 that permits public entities to apply the amendments in ASU 2014-09 for annual reporting periods beginning after December 15, 2017, including interim reporting periods therein, and that would also permit public entities to elect to adopt the amendments as of the original effective date as applicable to reporting periods beginning after December 15, 2016. The new guidance allows for the amendment to be applied either retrospectively to each prior reporting period presented or retrospectively as a cumulative-effect adjustment as of the date of adoption. In March 2016, the FASB issued ASU 2016-08, which clarifies the implementation guidance on principal versus agent considerations. In April 2016, the FASB issued ASU 2016-10, which clarifies identifying performance obligations and the licensing implementation guidance. In May 2016, the FASB issued ASU 2016-12, which improves certain aspects of ASC Topic 606 “Revenue from Contracts with Customers.” In December 2016, the FASB issued ASU 2016-20, which improves certain aspects of ASC Topic 606 “Revenue from Contracts with Customers.” The effective date and transition requirements for ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20 are the same as the effective date and transition requirements of ASU 2014-09 (collectively, "the standard"). The Company is in its final stages of evaluating the impact of the standard, primarily as it relates to the timing of revenue recognition on certain product development agreements and from the sale of products manufactured using the customer’s intellectual property. This includes an evaluation of the terms of customer contracts and arrangements that could potentially change the point-in-time revenue recognition to revenue recognition over-time, which could have a material impact on the financial statements. The Company expects to adopt the standard on a modified retrospective basis on January 1, 2018. See Note 1: “Background and Basis of Presentation” for the impact of the change in revenue recognition on distributor sales.
Cost Method Investments	Cost Method Investments Investments in equity securities that do not qualify for fair value accounting are accounted for under the cost method. Accordingly, the Company accounts for investments in companies that it does not control, or have significant influence over, under the cost method, as applicable. If a decline in the fair value of a cost method investment is determined to be other than temporary, an impairment charge is recorded, and the carrying value of the cost method investment is reduced to fair value. The Company evaluates all of its cost method investments for impairment; however, it is not required to determine the fair value of its investment unless impairment indicators are present.

Acquisitions and Divestitures (Tables)

9 Months Ended

Sep. 29, 2017

Business Combinations [Abstract]

Business Acquisition, Pro Forma Information

The following unaudited pro-forma consolidated results of operations for the quarter and nine months ended September 30, 2016 have been prepared as if the acquisition of Fairchild had occurred on January 1, 2015 and includes adjustments for depreciation expense, amortization of intangibles, interest expense from financing, and the effect of purchase accounting adjustments including the step-up of inventory (in millions):



	Quarter Ended			Nine Months Ended
	September 30, 2016			September 30, 2016
Revenues	$	1,260.2		$	3,636.1
Net Income (loss)	$	(10.6	)	$	49.8
Net income (loss) attributable to ON Semiconductor Corporation	$	(11.1	)	$	48.2
Net income (loss) per common share attributable to ON Semiconductor Corporation:
Basic	$	(0.03	)	$	0.12
Diluted	$	(0.03	)	$	0.12

Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 29, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Goodwill by Operating Segment

The following table summarizes goodwill by reportable segment as of September 29, 2017 and December 31, 2016 (in millions):



	Balance as of September 29, 2017							Balance as of December 31, 2016
	Goodwill		Accumulated Impairment Losses			Carrying Value		Goodwill		Accumulated Impairment Losses			Carrying Value
Reportable Segment:
Power Solutions Group	$	432.2	$	(28.6	)	$	403.6	$	438.7	$	(28.6	)	$	410.1
Analog Solutions Group	836.7		(418.9		)	417.8		836.7		(418.9		)	417.8
Image Sensor Group	95.5		—			95.5		96.8		—			96.8
	$	1,364.4	$	(447.5	)	$	916.9	$	1,372.2	$	(447.5	)	$	924.7

Summary of Intangible Assets, Net

Intangible assets, net, were as follows as of September 29, 2017 and December 31, 2016 (in millions):



	September 29, 2017
	Original Cost		Accumulated Amortization			Accumulated Impairment Losses			Carrying Value
Intellectual property	$	13.9	$	(11.7	)	$	(0.4	)	$	1.8
Customer relationships	555.9		(318.4		)	(20.1		)	217.4
Patents	43.7		(26.4		)	(13.7		)	3.6
Developed technology	640.1		(260.1		)	(2.6		)	377.4
Trademarks	17.2		(12.2		)	(1.1		)	3.9
Backlog	3.3		(3.3		)	—			—
Favorable Leases	1.7		(1.6		)	—			0.1
IPRD	72.0		—			(13.7		)	58.3
Total intangibles	$	1,347.8	$	(633.7	)	$	(51.6	)	$	662.5



	December 31, 2016
	Original Cost		Accumulated Amortization			Accumulated Impairment Losses			Carrying Value
Intellectual property	$	13.9	$	(11.2	)	$	(0.4	)	$	2.3
Customer relationships	549.0		(283.3		)	(19.5		)	246.2
Patents	43.7		(25.4		)	(13.7		)	4.6
Developed technology	566.9		(201.6		)	(2.6		)	362.7
Trademarks	17.2		(11.6		)	(1.1		)	4.5
Backlog	3.3		(2.4		)	—			0.9
Favorable Leases	1.5		(0.4		)	—			1.1
IPRD	145.8		—			(6.0		)	139.8
Total intangibles	$	1,341.3	$	(535.9	)	$	(43.3	)	$	762.1

Summary of Amortization Expense

Amortization expense for intangible assets, with the exception of the $58.3 million of IPRD assets that will be amortized once the corresponding projects have been completed, is expected to be as follows for remainder of 2017, each of the next four years, and thereafter (in millions):



Period	Estimated Amortization Expense
Remainder of 2017	$	28.9
2018	105.1
2019	95.7
2020	79.0
2021	67.7
Thereafter	227.8
Total estimated amortization expense	$	604.2

Restructuring, Asset Impairments and Other, Net (Tables)

9 Months Ended

Sep. 29, 2017

Restructuring Charges [Abstract]

Schedule of Activity Included in Restructuring, Asset Impairments, and Other, Net



	Restructuring			Asset Impairments ⁽¹⁾		Other ⁽²⁾		Total
Quarter ended September 29, 2017
Post-Fairchild acquisition restructuring costs	$	1.3		$	—	$	—	$	1.3
Japan Voluntary Workforce Reduction	1.0			—		—		1.0
Other	—			6.4		1.0		7.4
Total	$	2.3		$	6.4	$	1.0	$	9.7

	Restructuring			Asset Impairments ⁽¹⁾		Other ⁽²⁾		Total
Nine months ended September 29, 2017
Post-Fairchild acquisition restructuring costs	$	5.9		$	—	$	—	$	5.9
Manufacturing relocation	(2.1		)	—		—		(2.1		)
Japan Voluntary Workforce Reduction	2.0			—		—		2.0
Other	0.1			7.3		2.9		10.3
Total	$	5.9		$	7.3	$	2.9	$	16.1

⁽²⁾ Includes amounts related to other restructuring activities and immaterial adjustments which are not considered to be significant.

Schedule of Restructuring Reserve Roll Forward

Changes in accrued restructuring charges from December 31, 2016 to September 29, 2017 are summarized as follows (in millions):



	As of December 31, 2016		Charges		Usage			As of September 29, 2017

Estimated employee separation charges ⁽³⁾	$	8.1	$	5.6	$	(10.4	)	$	3.3
Estimated costs to exit	—		0.3		(0.2		)	0.1
Total	$	8.1	$	5.9	$	(10.6	)	$	3.4

⁽³⁾ Includes $0.2 million of adjustments to charges and $0.3 million of usage for employee separation charges not considered to be significant.

Balance Sheet Information (Tables)

9 Months Ended

Sep. 29, 2017

Balance Sheet Related Disclosures [Abstract]

Supplemental Balance Sheet Information

Certain amounts included in the Company's balance sheet as of September 29, 2017 and December 31, 2016 consist of the following (in millions):



	September 29, 2017			December 31, 2016
Receivables, net:
Accounts receivable	$	698.4		$	632.0
Less: Allowance for doubtful accounts	(2.8		)	(2.2		)
	$	695.6		$	629.8
Inventories:
Raw materials	$	116.7		$	121.4
Work in process	627.2			606.9
Finished goods	285.1			301.9
	$	1,029.0		$	1,030.2
Property, plant and equipment, net:
Land	$	148.5		$	146.3
Buildings	726.9			713.7
Machinery and equipment	3,373.7			3,131.1
Total property, plant and equipment	4,249.1			3,991.1
Less: Accumulated depreciation	(2,010.9		)	(1,832.0		)
	$	2,238.2		$	2,159.1
Accrued expenses:
Accrued payroll	$	180.2		$	155.3
Sales related reserves	268.4			124.8
Income taxes payable	30.4			30.0
Other	101.5			94.9
	$	580.5		$	405.0

Schedule of Product Warranty Liability

Activity related to the Company's warranty reserves for the nine months ended September 29, 2017 and September 30, 2016 is as follows (in millions):



	Nine Months Ended
	September 29, 2017			September 30, 2016
Beginning Balance	$	8.8		$	5.3
Provision	5.9			3.0
Usage	(6.9		)	(2.8		)
Warranty reserves from acquired business	—			0.7
Ending Balance	$	7.8		$	6.2

Schedule of Net Benefit Costs

The components of the Company's net periodic pension expense for the quarters and nine months ended September 29, 2017 and September 30, 2016 are as follows (in millions):



	Quarter Ended						Nine Months Ended
	September 29, 2017			September 30, 2016			September 29, 2017			September 30, 2016
Service cost	$	2.4		$	2.3		$	7.0		$	6.8
Interest cost	1.1			1.1			3.2			3.3
Expected return on plan assets	(1.4		)	(1.0		)	(4.0		)	(3.0		)
Total net periodic pension cost	$	2.1		$	2.4		$	6.2		$	7.1

Long-Term Debt (Tables)

9 Months Ended

Sep. 29, 2017

Debt Disclosure [Abstract]

Long-Term Debt

The Company's long-term debt consists of the following (annualized rates, in millions):



	September 29, 2017			December 31, 2016
Revolving Credit Facility due 2021	$	—		$	—
Term Loan “B” Facility due 2023, interest payable monthly at 3.49% and 4.02%, respectively	1,604.5			2,394.0
1.00% Notes due 2020 (1)	690.0			690.0
2.625% Notes, Series B (2)	—			356.4
1.625% Notes due 2023 (3)	575.0			—
Note payable to SMBC due 2016 through 2018, interest payable quarterly at 3.09% and 2.75%, respectively (4)	132.1			160.4
U.S. real estate mortgages payable monthly through 2019 at an average rate of 3.12% and 3.12%, respectively (5)	35.4			38.9
Philippine term loans due 2016 through 2020, interest payable quarterly at 3.67% and 3.20%, respectively (8)	35.3			44.1
Loan with Singapore bank, interest payable weekly at 2.49% and 2.01%, respectively (7) (11)	25.0			25.0
Loan with Hong Kong bank, interest payable weekly at 2.49% and 2.01%, respectively (7) (11)	25.0			25.0
Malaysia revolving line of credit, interest payable quarterly at 2.78% and 2.45%, respectively (8) (11)	25.0			25.0
Vietnam revolving line of credit, interest payable quarterly at an average rate of 2.73% and 2.43%, respectively (8) (11)	24.9			17.0
Loan with Philippine bank due 2016 through 2019, interest payable quarterly at 3.99% and 3.58%, respectively (6)	10.6			14.1
Loan with Japanese bank due 2016 through 2020, interest payable quarterly at 1.1% (8)	2.9			3.4
Canada equipment financing payable monthly through 2017 at 3.81% (6)	—			0.5
Capital lease obligations	5.4			13.0
Gross long-term debt, including current maturities	3,191.1			3,806.8
Less: Debt discount (9)	(192.6		)	(111.4		)
Less: Debt issuance costs (10)	(55.6		)	(73.1		)
Net long-term debt, including current maturities	2,942.9			3,622.3
Less: Current maturities	(258.5		)	(553.8		)
Net long-term debt	2,684.4			3,068.5

_______________________


(1)	Interest is payable on June 1 and December 1 of each year at 1.00% annually.


(2)	The 2.625% Notes, Series B were redeemed in full in January 2017. See below under the heading “2.625% Notes, Series B” for additional information.


(3)	Interest is payable on April 15 and October 15 of each year, beginning October 15, 2017, at 1.625% annually.


(4)	This loan represents SCI LLC's non-collateralized loan with SMBC, which is guaranteed by the Company.


(5)	Debt arrangement collateralized by real estate, including certain of the Company’s facilities in California, Oregon and Idaho.


(6)	Debt collateralized by equipment.


(7)	Debt arrangement collateralized by certain accounts receivable.


(8)	Non-collateralized debt arrangement.


(9)	Debt discount of $67.0 million and $81.5 million for the 1.00% Notes as of September 29, 2017 and December 31, 2016, respectively, $108.2 million and zero for the 1.625% Notes as of September 29, 2017 and December 31, 2016, respectively, and $17.4 million and $29.9 million for the Term Loan "B" Facility as of September 29, 2017 and December 31, 2016, respectively.


(10)	Debt issuance costs of $9.3 million and $11.3 million for the 1.00% Notes as of September 29, 2017 and December 31, 2016, respectively, $10.4 million and zero for the 1.625% Notes as of September 29, 2017 and December 31, 2016, respectively, and $35.9 million and $61.8 million for the Term Loan "B" Facility as of September 29, 2017 and December 31, 2016, respectively.


(11)	The Company has historically renewed these arrangements annually.

Annual Maturities Relating To Long-Term Debt

Expected maturities relating to the Company’s long-term debt (including current maturities) as of September 29, 2017 are as follows (in millions):



Period	Expected Maturities
Remainder of 2017	$	116.0
2018	148.2
2019	47.6
2020	699.7
2021	—
Thereafter	2,179.6
Total	$	3,191.1

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

Earnings Per Share and Equity (Tables)

9 Months Ended

Sep. 29, 2017

Earnings Per Share [Abstract]

Earnings Per Share

Calculations of net income per common share attributable to ON Semiconductor are as follows (in millions, except per share data):



	Quarter Ended				Nine Months Ended
	September 29, 2017		September 30, 2016		September 29, 2017		September 30, 2016
Net income attributable to ON Semiconductor Corporation	$	108.7	$	10.1	$	280.8	$	71.2
Basic weighted-average common shares outstanding	422.2		415.8		421.0		414.4
Dilutive effect of share-based awards	5.3		4.0		5.5		3.2
Diluted weighted-average common shares outstanding	427.5		419.8		426.5		417.6

Net income per common share attributable to ON Semiconductor Corporation:
Basic	$	0.26	$	0.02	$	0.67	$	0.17
Diluted	$	0.25	$	0.02	$	0.66	$	0.17

Information Regarding Share Repurchase Program

Information relating to the Company's share repurchase program during the quarter and nine months ended September 29, 2017 is as follows (in millions, except per share data):



	Quarter Ended		Nine Months Ended
	September 29, 2017		September 29, 2017
Number of repurchased shares ⁽¹⁾⁽²⁾	—		1.6
Aggregate purchase price	$	—	$	25.0
Weighted-average purchase price per share ⁽³⁾	$	—	$	15.35
Available for future purchases at September 29, 2017	$	603.2	$	603.2

(1) None of these shares had been reissued or retired as of September 29, 2017, but may be reissued or retired by

the Company at a later date.

(2) Represents 1.6 million shares, totaling $25.0 million, repurchased concurrently with the issuance of the

1.625% Notes.

(3) Exclusive of fees, commissions and other expenses.

Share-Based Compensation (Tables)

9 Months Ended

Sep. 29, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary Of Share-Based Compensation Expense



	Quarter Ended				Nine Months Ended
	September 29, 2017		September 30, 2016		September 29, 2017		September 30, 2016
Cost of revenues	$	1.4	$	2.0	$	4.4	$	6.0
Research and development	3.2		2.9		9.6		8.3
Selling and marketing	2.8		2.6		8.8		7.2
General and administrative	9.4		6.7		29.9		20.4
Share-based compensation expense before income taxes	$	16.8	$	14.2	$	52.7	$	41.9
Related income tax benefits ⁽¹⁾	5.9		—		18.4		—
Share-based compensation expense, net of taxes	$	10.9	$	14.2	$	34.3	$	41.9


⁽¹⁾	Recognition of related income tax benefits are the result of the adoption of ASU 2016-09 during the first quarter of 2017. Tax benefit calculated using the federal statutory rate of 35%. See Note 2: ''Recent Accounting Pronouncements'' for more information.

Schedule of Share-based Compensation, Stock Options, Activity



	Nine Months Ended September 29, 2017
	Number of Shares		Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (In-The-Money)
Outstanding at December 31, 2016	3.3		$	7.75
Granted	—		—
Exercised	(1.4	)	8.08
Canceled	—		—
Outstanding at September 29, 2017	1.9		$	7.50	1.37	$	21.3

Exercisable at September 29, 2017	1.9		$	7.50	1.37	$	21.3

Additional Information On Stock Options Outstanding



	Exercisable			Unexercisable			Total
Exercise Prices	Number of Shares	Weighted-Average Exercise Price Per Share		Number of Shares	Weighted-Average Exercise Price Per Share		Number of Shares	Weighted-Average Exercise Price Per Share
Less than $18.47	1.9	$	7.50	—	$	—	1.9	$	7.50
Above $18.47	—	—		—	—		—	—
Total outstanding	1.9	$	7.50	—	$	—	1.9	$	7.50

Summary Of Restricted Stock Units Transactions

The following table presents summarized information with respect to the Company's restricted stock units at September 29, 2017 and changes during the nine months ended September 29, 2017 (in millions, except per share data):



	Number of Shares		Weighted-Average Grant Date Fair Value Per Share
Non-vested shares underlying restricted stock units at December 31, 2016	9.7		$	10.10
Granted	4.1		15.19
Achieved	1.2		9.01
Released	(4.7	)	9.63
Forfeited	(0.2	)	11.86
Non-vested shares underlying restricted stock units at September 29, 2017	10.1		12.26

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 29, 2017

Commitments and Contingencies Disclosure [Abstract]

Operating Leases Future Minimum Payments Receivable

The following represents future minimum lease obligations under non-cancelable operating leases as of September 29, 2017 (in millions):



Remainder of 2017	$	9.7
2018	32.0
2019	27.2
2020	19.6
2021	14.3
Thereafter	57.8
Total ⁽¹⁾	$	160.6

⁽¹⁾ Excludes $16.6 million of expected sublease income.

Fair Value Measurements (Tables)

9 Months Ended

Sep. 29, 2017

Fair Value Disclosures [Abstract]

Fair Value Of Assets And Liabilities Measured On Recurring Basis



			Fair Value Measurements as of September 29, 2017
Description	Balance as of September 29, 2017		Level 1		Level 2		Level 3
Assets:
Cash and Cash equivalents:
Demand and time deposits	$	20.8	$	20.8	$	—	$	—
Money market funds	0.3		0.3		—		—
Liabilities:
Contingent consideration	6.5		—		—		6.5



			Fair Value Measurements as of December 31, 2016
Description	Balance as of December 31, 2016		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents:
Demand and time deposits	$	67.2	$	67.2	$	—	$	—
Money market funds	30.3		30.3		—		—
Liabilities:
Contingent consideration	4.5		—		—		4.5

Fair Value, by Balance Sheet Grouping



	September 29, 2017				December 31, 2016
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Long-term debt, including current portion
Convertible notes	$	1,070.1	$	1,489.7	$	953.6	$	1,160.9
Long-term debt	$	1,832.0	$	1,849.9	$	2,616.3	$	2,731.5

Financial Instruments (Tables)

9 Months Ended

Sep. 29, 2017

Investments, All Other Investments [Abstract]

Schedule of Net Foreign Exchange Positions

The following summarizes the Company’s net foreign exchange positions in U.S. dollars as of September 29, 2017 and December 31, 2016 (in millions):



	September 29, 2017					December 31, 2016
	Buy (Sell)			Notional Amount		Buy (Sell)			Notional Amount
Euro	$	(47.7	)	$	47.7	$	(25.4	)	$	25.4
Japanese Yen	(47.7		)	47.7		(33.7		)	33.7
Philippine Peso	23.5			23.5		15.8			15.8
Other Currencies - Buy	34.0			34.0		(6.1		)	6.1
Other Currencies - Sell	(14.1		)	14.1		14.9			14.9
	$	(52.0	)	$	167.0	$	(34.5	)	$	95.9

Changes in Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 29, 2017

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

Amounts comprising the Company's accumulated other comprehensive loss and reclassifications for the nine months ended September 29, 2017 are as follows (net of tax benefit of $0.2, in millions):



	Foreign Currency Translation Adjustments			Effects of Cash Flow Hedges			Total
Balance as of December 31, 2016	$	(50.2	)	$	—		$	(50.2	)
Other comprehensive income (loss) prior to reclassifications ^{(1) (2)}	6.9			(0.6		)	6.3
Amounts reclassified from accumulated other comprehensive loss	—			0.1			0.1
Net current period other comprehensive income (loss)	6.9			(0.5		)	6.4
Balance as of September 29, 2017	$	(43.3	)	$	(0.5	)	$	(43.8	)

(1) Foreign currency translation adjustments are net of tax of zero for the nine months ended September 29, 2017.

(2) Effects of cash flow hedges are net of tax of $0.3 million of tax benefit for the nine months ended September 29, 2017.



	Amounts Reclassified from Accumulated Other Comprehensive Loss
	Quarter Ended					Nine Months Ended
	September 29, 2017			September 30, 2016		September 29, 2017			September 30, 2016		Statement of Operations and Comprehensive Income Line Item
Foreign currency hedges	$	—		$	—	$	—		$	0.2	Cost of revenues
Interest rate swaps	(0.3		)	—		(0.1		)	—		Other income and expense
Total reclassifications	$	(0.3	)	$	—	$	(0.1	)	$	0.2

Supplemental Disclosures (Tables)

9 Months Ended

Sep. 29, 2017

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosures

Certain of the Company's non-cash activities along with cash payments for interest and income taxes are as follows (in millions):



	Nine Months Ended
	September 29, 2017			September 30, 2016
Non-cash activities:
Debt issuance costs paid directly from escrow accounts	$	—		$	46.0
Capital expenditures in accounts payable and other liabilities	$	213.4		$	88.3
Cash (received) paid for:
Interest income	$	(1.8	)	$	(3.8	)
Interest expense	$	67.4		$	72.7
Income taxes	$	48.9		$	19.1

Segment Information (Tables)

9 Months Ended

Sep. 29, 2017

Segment Reporting [Abstract]

Segment Information of Revenues, Gross Profit and Operating Income

Revenues and gross profit for the Company’s reportable segments for the quarters and nine months ended September 29, 2017 and September 30, 2016 are as follows (in millions):



	Power Solutions Group		Analog Solutions Group		Image Sensor Group		Total
For the quarter ended September 29, 2017:
Revenues from external customers	$	706.4	$	491.6	$	192.9	$	1,390.9
Gross profit	$	244.1	$	208.3	$	81.0	$	533.4
For the quarter ended September 30, 2016:
Revenues from external customers	$	407.8	$	363.1	$	180.0	$	950.9
Gross profit	$	142.2	$	144.4	$	57.4	$	344.0

For the nine months ended September 29, 2017:
Revenues from external customers	$	2,121.6	$	1,463.7	$	580.3	$	4,165.6
Gross profit	$	716.7	$	613.5	$	223.4	$	1,553.6
For the nine months ended September 30, 2016:
Revenues from external customers	$	1,088.4	$	1,012.0	$	545.5	$	2,645.9
Gross profit	$	361.9	$	404.1	$	179.9	$	945.9

Reconciliation of Operating Profit (Loss) from Segments to Consolidated



	Quarter Ended						Nine Months Ended
	September 29, 2017			September 30, 2016			September 29, 2017			September 30, 2016
Gross profit for reportable segments	$	533.4		$	344.0		$	1,553.6		$	945.9
Less: unallocated manufacturing costs	(9.2		)	(15.0		)	(34.0		)	(33.5		)
Consolidated Gross profit	$	524.2		$	329.0		$	1,519.6		$	912.4

Revenues by Geographic Location Including Local Sales and Exports

Revenues by geographic location, including local sales made by operations within each area, based on sales billed from the respective country, are summarized as follows (in millions):



	Quarter Ended				Nine Months Ended
	September 29, 2017		September 30, 2016		September 29, 2017		September 30, 2016
United States	$	171.3	$	140.7	$	560.2	$	421.1
Japan	110.4		85.3		321.4		251.2
Hong Kong	477.6		258.9		1,394.9		654.0
Singapore	360.7		281.4		1,038.6		783.8
United Kingdom	154.1		132.4		472.9		407.6
Other	116.8		52.2		377.6		128.2
	$	1,390.9	$	950.9	$	4,165.6	$	2,645.9

Summary of Property, Plant and Equipment by Geographic Location

Property, plant and equipment, net by geographic location, is summarized as follows (in millions):



	As of September 29, 2017		As of December 31, 2016
United States	$	551.2	$	548.1
Korea	376.3		385.9
Malaysia	233.1		224.0
Philippines	416.7		381.7
China	243.3		217.7
Other	417.6		401.7
	$	2,238.2	$	2,159.1

Background and Basis of Presentation - Narrative (Details) $ / shares in Units, $ in Millions	3 Months Ended			9 Months Ended
	Sep. 29, 2017 USD ($)	Mar. 31, 2017 USD ($) $ / shares	Sep. 30, 2016 USD ($)	Sep. 29, 2017 USD ($) segment	Sep. 30, 2016 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of operating segments \| segment				3
Number of reportable segments \| segment				3
Revenues	$ 1,390.9		$ 950.9	$ 4,165.6	$ 2,645.9
Income before income taxes	$ 168.3		$ 87.3	426.5	$ 162.4
Decrease in revenue				8.1
Decrease in income before income taxes				$ 5.3
Distributors, repayment period (in days)				30 days
Adjustments for New Accounting Pronouncement
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues		$ 155.1
Income before income taxes		$ 59.0
Earnings per share, basic and diluted (in dollars per share) \| $ / shares		$ 0.09

Recent Accounting Pronouncements Narrative (Details) $ in Millions	Dec. 31, 2016 USD ($)
Retained Earnings \| Accounting Standards Update 2016-09
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cumulative effect	$ 68.1

Acquisitions and Divestitures - Divestitures (Additional Information) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Sep. 29, 2017	Sep. 29, 2017	Sep. 30, 2016	Sep. 29, 2017	Sep. 30, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of subsidiary		$ 12.5	$ 92.2	$ 12.5	$ 92.2
Xsens Holding B.V. \| Disposal Group
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage disposed	100.00%
Total cash consideration	$ 26.0	26.0		$ 26.0
Percentage of total consideration deposited in escrow				20.00%
Amount of total consideration deposited in escrow	5.2
Cash consideration received	$ 20.8
Contingency period (in months)	18 months
Gain on sale of subsidiary		12.5		$ 12.5
Amount written off on assets (liabilities) transferred	$ 7.0	7.0		7.0
Amount written off on goodwill transferred	$ 6.5	$ 6.5		$ 6.5

Acquisitions and Divestitures - Business Acquisition, Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		9 Months Ended
	Sep. 19, 2016	Sep. 29, 2017	Sep. 30, 2016	Sep. 29, 2017	Sep. 30, 2016
Business Acquisition [Line Items]
Revenues			$ 1,260.2		$ 3,636.1
Net Income (loss)			(10.6)		49.8
Net income (loss) attributable to ON Semiconductor Corporation		$ 108.7	$ (11.1)	$ 280.8	$ 48.2
Net income (loss) per common share attributable to ON Semiconductor Corporation - Basic (in dollars per share)			$ (0.03)		$ 0.12
Net income (loss) per common share attributable to ON Semiconductor Corporation - Diluted (in dollars per share)			$ (0.03)		$ 0.12
Fairchild
Business Acquisition [Line Items]
Percentage acquired	100.00%
Purchase price	$ 2,532.2

Acquisitions and Divestitures - Licensing Income (Details) - USD ($) $ in Millions		3 Months Ended			9 Months Ended
	Dec. 19, 2016	Sep. 29, 2017	Jun. 30, 2017	Sep. 30, 2016	Sep. 29, 2017	Sep. 30, 2016	Dec. 31, 2016
Business Acquisition [Line Items]
Licensing income		$ 21.5		$ 0.0	$ 45.4	$ 0.0
Intangible assets, net		662.5			662.5		$ 762.1
HSET Electronic Tech (Hong Kong) Limited
Business Acquisition [Line Items]
Cash consideration received	$ 75.0				22.5
Licensing income		20.0	$ 22.5
Deferred licenses revenue		10.0
Licensing Agreements \| HSET Electronic Tech (Hong Kong) Limited
Business Acquisition [Line Items]
Licensing income		30.0
Intangible assets, net		$ 8.1			$ 8.1

Goodwill and Intangible Assets - Summary of Changes in Goodwill (Details) - USD ($) $ in Millions	Sep. 29, 2017	Dec. 31, 2016
Goodwill
Goodwill	$ 1,364.4	$ 1,372.2
Accumulated Impairment Losses	(447.5)	(447.5)
Carrying Value	916.9	924.7
Power Solutions Group
Goodwill
Goodwill	432.2	438.7
Accumulated Impairment Losses	(28.6)	(28.6)
Carrying Value	403.6	410.1
Analog Solutions Group
Goodwill
Goodwill	836.7	836.7
Accumulated Impairment Losses	(418.9)	(418.9)
Carrying Value	417.8	417.8
Image Sensor Group
Goodwill
Goodwill	95.5	96.8
Accumulated Impairment Losses	0.0	0.0
Carrying Value	$ 95.5	$ 96.8

Goodwill and Intangible Assets - Narrative (Details) - USD ($)		3 Months Ended		9 Months Ended
	Sep. 29, 2017	Sep. 29, 2017	Sep. 30, 2016	Sep. 29, 2017	Sep. 30, 2016	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Amount of goodwill disposed of as part of Xsens transaction	$ 6,500,000
Increase (decrease) in goodwill				$ 0
Intangible asset impairment		$ 1,500,000	$ 0	7,700,000	$ 2,200,000
Intangible assets sold as part of a divestiture		8,700,000		8,700,000
License expense		8,100,000		8,100,000
Amortization of acquisition-related intangible assets		37,300,000	$ 24,700,000	95,000,000	$ 71,900,000
Intangible assets, net	662,500,000	662,500,000		662,500,000		$ 762,100,000
IPRD
Finite-Lived Intangible Assets [Line Items]
IPRD projects reclassified to developed technology		49,000,000		81,900,000
Intangible asset impairment		1,500,000		7,700,000
Intangible assets, net	$ 58,300,000	58,300,000		$ 58,300,000		$ 139,800,000
Series of Individually Immaterial Business Acquisitions
Finite-Lived Intangible Assets [Line Items]
Measurement period adjustment		$ 1,300,000

Goodwill and Intangible Assets - Summary of Intangible Assets, Net (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 29, 2017	Dec. 31, 2016
Intangible Assets, Net
Original Cost	$ 1,347.8	$ 1,341.3
Accumulated Amortization	(633.7)	(535.9)
Accumulated Impairment Losses	(51.6)	(43.3)
Carrying Value	662.5	762.1
Intellectual property
Intangible Assets, Net
Original Cost	13.9	13.9
Accumulated Amortization	(11.7)	(11.2)
Accumulated Impairment Losses	(0.4)	(0.4)
Carrying Value	1.8	2.3
Customer relationships
Intangible Assets, Net
Original Cost	555.9	549.0
Accumulated Amortization	(318.4)	(283.3)
Accumulated Impairment Losses	(20.1)	(19.5)
Carrying Value	217.4	246.2
Patents
Intangible Assets, Net
Original Cost	43.7	43.7
Accumulated Amortization	(26.4)	(25.4)
Accumulated Impairment Losses	(13.7)	(13.7)
Carrying Value	3.6	4.6
Developed technology
Intangible Assets, Net
Original Cost	640.1	566.9
Accumulated Amortization	(260.1)	(201.6)
Accumulated Impairment Losses	(2.6)	(2.6)
Carrying Value	377.4	362.7
Trademarks
Intangible Assets, Net
Original Cost	17.2	17.2
Accumulated Amortization	(12.2)	(11.6)
Accumulated Impairment Losses	(1.1)	(1.1)
Carrying Value	3.9	4.5
Backlog
Intangible Assets, Net
Original Cost	3.3	3.3
Accumulated Amortization	(3.3)	(2.4)
Accumulated Impairment Losses	0.0	0.0
Carrying Value	0.0	0.9
Favorable Leases
Intangible Assets, Net
Original Cost	1.7	1.5
Accumulated Amortization	(1.6)	(0.4)
Accumulated Impairment Losses	0.0	0.0
Carrying Value	0.1	1.1
IPRD
Intangible Assets, Net
Original Cost	72.0	145.8
Accumulated Amortization	0.0	0.0
Accumulated Impairment Losses	(13.7)	(6.0)
Carrying Value	$ 58.3	$ 139.8

Goodwill and Intangible Assets - Summary of Amortization Expense (Details) $ in Millions	Sep. 29, 2017 USD ($)
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule
Remainder of 2017	$ 28.9
2018	105.1
2019	95.7
2020	79.0
2021	67.7
Thereafter	227.8
Total estimated amortization expense	$ 604.2

Restructuring, Asset Impairments and Other, Net - Schedule of Activity Included in Restructuring, Asset Impairments, and Other, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2017	Sep. 30, 2016	Sep. 29, 2017	Sep. 30, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 2.3		$ 5.9
Non-cash asset impairment charges	6.4		7.3	$ 0.0
Other	1.0		2.9
Total	9.7	$ 21.8	16.1	$ 28.7
Impairment of assets held for sale	6.4		7.3
Termination benefits \| Post-Fairchild acquisition restructuring costs
Restructuring Cost and Reserve [Line Items]
Restructuring	1.3		5.9
Non-cash asset impairment charges	0.0		0.0
Other	0.0		0.0
Total	1.3		5.9
Employee severance \| Manufacturing relocation
Restructuring Cost and Reserve [Line Items]
Restructuring			(2.1)
Non-cash asset impairment charges			0.0
Other			0.0
Total			(2.1)
Workforce Reduction \| Japan Voluntary Workforce Reduction
Restructuring Cost and Reserve [Line Items]
Restructuring	1.0		2.0
Non-cash asset impairment charges	0.0		0.0
Other	0.0		0.0
Total	1.0		2.0
Other
Restructuring Cost and Reserve [Line Items]
Restructuring	0.0		0.1
Non-cash asset impairment charges	6.4		7.3
Other	1.0		2.9
Total	$ 7.4		$ 10.3

Restructuring, Asset Impairments and Other, Net - Rollforward of Accrued Restructuring Charges (Details) $ in Millions	9 Months Ended
	Sep. 29, 2017 USD ($)
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	$ 8.1
Usage	(10.6)
Balance at End of Period	3.4
Restructuring Charges	5.9
Estimated employee separation charges
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	8.1
Usage	(10.4)
Balance at End of Period	3.3
Restructuring Charges	5.6
Estimated employee separation charges, adjustment	0.2
Estimated employee separation usage, adjustment	0.3
Estimated costs to exit
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	0.0
Usage	(0.2)
Balance at End of Period	0.1
Restructuring Charges	$ 0.3

Restructuring, Asset Impairments and Other, Net - Narrative (Details) $ in Millions		3 Months Ended			9 Months Ended
	Sep. 19, 2016 employee	Sep. 29, 2017 USD ($) employee	Jun. 30, 2017 employee	Mar. 31, 2017 USD ($) employee	Sep. 29, 2017 USD ($) employee	Dec. 31, 2016 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges					$ 5.9
Payments for restructuring					10.6
Accrued liabilities		$ 3.4			$ 3.4	$ 8.1
Post-Fairchild acquisition restructuring costs \| Employee severance
Restructuring Cost and Reserve [Line Items]
Expected reduction in employment levels (number of employees) \| employee	225				17
Number of positions eliminated (employees) \| employee		16	31	25	297
Number of employees exited to date \| employee		280			280
Restructuring charges		$ 1.3			$ 5.9
Payments for restructuring		2.6			9.0
Accrued liabilities		2.4			2.4
Total expense		$ 31.6			31.6
Japan Voluntary Workforce Reduction
Restructuring Cost and Reserve [Line Items]
Payments for restructuring					1.1
Japan Voluntary Workforce Reduction \| Employee severance
Restructuring Cost and Reserve [Line Items]
Accrued liabilities				$ 0.9
Japan Voluntary Workforce Reduction \| Workforce Reduction
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated (employees) \| employee		17
Restructuring charges		$ 1.0			2.0
Number of employees who have signed employee separation agreements \| employee		35
Manufacturing Relocation \| Employee severance
Restructuring Cost and Reserve [Line Items]
Accrued liabilities				$ 2.1
Minimum \| Japan Voluntary Workforce Reduction \| Workforce Reduction
Restructuring Cost and Reserve [Line Items]
Total expense		$ 3.0			3.0
Maximum \| Japan Voluntary Workforce Reduction \| Workforce Reduction
Restructuring Cost and Reserve [Line Items]
Expected reduction in employment levels (number of employees) \| employee		50
Total expense		$ 4.0			$ 4.0

Balance Sheet Information - Schedule of Balance Sheet Information (Details) - USD ($) $ in Millions	Sep. 29, 2017	Dec. 31, 2016
Receivables, net:
Accounts receivable	$ 698.4	$ 632.0
Less: Allowance for doubtful accounts	(2.8)	(2.2)
Receivables, net	695.6	629.8
Inventories:
Raw materials	116.7	121.4
Work in process	627.2	606.9
Finished goods	285.1	301.9
Inventories	1,029.0	1,030.2
Property, plant and equipment, net:
Land	148.5	146.3
Buildings	726.9	713.7
Machinery and equipment	3,373.7	3,131.1
Total property, plant and equipment	4,249.1	3,991.1
Less: Accumulated depreciation	(2,010.9)	(1,832.0)
Property, plant and equipment, net	2,238.2	2,159.1
Accrued expenses:
Accrued payroll	180.2	155.3
Sales related reserves	268.4	124.8
Income taxes payable	30.4	30.0
Other	101.5	94.9
Accrued expenses	$ 580.5	$ 405.0

Balance Sheet Information - Warranty Reserves (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 29, 2017	Sep. 30, 2016
Warranty Reserves
Beginning Balance	$ 8.8	$ 5.3
Provision	5.9	3.0
Usage	(6.9)	(2.8)
Warranty reserves from acquired business	0.0	0.7
Ending Balance	$ 7.8	$ 6.2

Balance Sheet Information - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 29, 2017	Sep. 29, 2017	Dec. 31, 2016
Balance Sheet Related Disclosures [Abstract]
Assets held-for-sale	$ 17.3	$ 17.3	$ 34.1
Impairment of assets held for sale	6.4	7.3
Accrued pension liability	107.1	107.1	102.1
Current portion accrued pension liability	$ 0.1	$ 0.1	$ 0.1

Balance Sheet Information - Periodic Pension Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2017	Sep. 30, 2016	Sep. 29, 2017	Sep. 30, 2016
Balance Sheet Related Disclosures [Abstract]
Service cost	$ 2.4	$ 2.3	$ 7.0	$ 6.8
Interest cost	1.1	1.1	3.2	3.3
Expected return on plan assets	(1.4)	(1.0)	(4.0)	(3.0)
Total net periodic pension cost	$ 2.1	$ 2.4	$ 6.2	$ 7.1

Long-Term Debt (Details) - USD ($)	Sep. 29, 2017	Mar. 31, 2017	Jan. 26, 2017	Dec. 31, 2016	Nov. 17, 2016
Debt Instrument [Line Items]
Carrying Amount	$ 3,191,100,000			$ 3,806,800,000
Capital lease obligations	125,100,000
Debt discount	(192,600,000)			(111,400,000)
Debt issuance costs	(55,600,000)			(73,100,000)
Net long-term debt, including current maturities	2,942,900,000			3,622,300,000
Less: Current maturities	(258,500,000)			(553,800,000)
Net long-term debt	2,684,400,000			3,068,500,000
Debt discount	192,600,000			111,400,000
Debt issuance costs	55,600,000			73,100,000
Revolving Credit Facility due 2021
Debt Instrument [Line Items]
Carrying Amount	0			0
Term Loan “B” Facility due 2023, interest payable monthly at 3.49% and 4.02%, respectively
Debt Instrument [Line Items]
Carrying Amount	1,604,500,000			2,394,000,000
Debt discount	(17,400,000)			(29,900,000)
Debt issuance costs	$ (35,900,000)			$ (61,800,000)
Debt instrument, interest rate (as a percent)	3.49%			4.02%
Debt discount	$ 17,400,000			$ 29,900,000
Debt issuance costs	35,900,000			61,800,000
2.625% Notes, Series B
Debt Instrument [Line Items]
Carrying Amount	$ 0		$ 0	$ 356,400,000
Debt instrument, interest rate (as a percent)	2.625%			2.625%	2.625%
Note payable to SMBC due 2016 through 2018, interest payable quarterly at 3.09% and 2.75%, respectively
Debt Instrument [Line Items]
Carrying Amount	$ 132,100,000			$ 160,400,000
Debt instrument, interest rate (as a percent)	3.09%			2.75%
U.S. real estate mortgages payable monthly through 2019 at an average rate of 3.12% and 3.12%, respectively
Debt Instrument [Line Items]
Carrying Amount	$ 35,400,000			$ 38,900,000
Debt instrument, interest rate (as a percent)	3.12%			3.12%
Philippine term loans due 2016 through 2020, interest payable quarterly at 3.67% and 3.20%, respectively
Debt Instrument [Line Items]
Carrying Amount	$ 35,300,000			$ 44,100,000
Debt instrument, interest rate (as a percent)	3.67%			3.20%
Loan with Singapore bank, interest payable weekly at 2.49% and 2.01%, respectively
Debt Instrument [Line Items]
Carrying Amount	$ 25,000,000			$ 25,000,000
Debt instrument, interest rate (as a percent)	2.49%			2.01%
Loan with Hong Kong bank, interest payable weekly at 2.49% and 2.01%, respectively
Debt Instrument [Line Items]
Carrying Amount	$ 25,000,000			$ 25,000,000
Debt instrument, interest rate (as a percent)	2.49%			2.01%
Malaysia revolving line of credit, interest payable quarterly at 2.78% and 2.45%, respectively
Debt Instrument [Line Items]
Carrying Amount	$ 25,000,000			$ 25,000,000
Debt instrument, interest rate (as a percent)	2.78%			2.45%
Vietnam revolving line of credit, interest payable quarterly at an average rate of 2.73% and 2.43%, respectively
Debt Instrument [Line Items]
Carrying Amount	$ 24,900,000			$ 17,000,000
Debt instrument, interest rate (as a percent)	2.73%			2.43%
Loan with Philippine bank due 2016 through 2019, interest payable quarterly at 3.99% and 3.58%, respectively
Debt Instrument [Line Items]
Carrying Amount	$ 10,600,000			$ 14,100,000
Debt instrument, interest rate (as a percent)	3.99%			3.58%
Loan with Japanese bank due 2016 through 2020, interest payable quarterly at 1.1%
Debt Instrument [Line Items]
Carrying Amount	$ 2,900,000			$ 3,400,000
Debt instrument, interest rate (as a percent)	1.10%			1.10%
Canada equipment financing payable monthly through 2017 at 3.81%
Debt Instrument [Line Items]
Carrying Amount	$ 0			$ 500,000
Debt instrument, interest rate (as a percent)	3.81%			3.81%
Capital lease obligations
Debt Instrument [Line Items]
Capital lease obligations	$ 5,400,000			$ 13,000,000
1.00% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)	1.00%
1.00% Notes \| Convertible Debt
Debt Instrument [Line Items]
Carrying Amount	$ 690,000,000			690,000,000
Debt discount	(67,000,000)			(81,500,000)
Debt issuance costs	$ (9,300,000)			(11,300,000)
Debt instrument, interest rate (as a percent)	1.00%
Debt discount	$ 67,000,000			81,500,000
Debt issuance costs	9,300,000			11,300,000
1.625% Notes \| Convertible Debt
Debt Instrument [Line Items]
Carrying Amount	575,000,000			0
Debt discount	(108,200,000)			0
Debt issuance costs	$ (10,400,000)	$ (11,100,000)		0
Debt instrument, interest rate (as a percent)	1.625%	1.625%
Debt discount	$ 108,200,000			0
Debt issuance costs	$ 10,400,000	$ 11,100,000		$ 0

Long-Term Debt - Annual Maturities Relating To Long-Term Debt (Details) $ in Millions	Sep. 29, 2017 USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
Remainder of 2017	$ 116.0
2018	148.2
2019	47.6
2020	699.7
2021	0.0
Thereafter	2,179.6
Total	$ 3,191.1

Long-Term Debt - Narrative (Details) $ / shares in Units, shares in Millions				3 Months Ended				9 Months Ended		12 Months Ended
	Mar. 31, 2017 USD ($) $ / shares	Jan. 26, 2017 USD ($)	Nov. 17, 2016 USD ($) $ / shares	Sep. 29, 2017 USD ($) $ / shares shares	Mar. 31, 2017 USD ($) $ / shares	Sep. 30, 2016 USD ($)	Jul. 01, 2016 USD ($)	Sep. 29, 2017 USD ($) trading_day $ / shares shares	Sep. 30, 2016 USD ($)	Dec. 31, 2016 USD ($)
Debt Instrument [Line Items]
Long-term debt				$ 3,191,100,000				$ 3,191,100,000
Loss on debt refinancing and prepayment				(6,700,000)		$ (6,300,000)		(32,900,000)	$ (6,300,000)
Carrying Amount				3,191,100,000				3,191,100,000		$ 3,806,800,000
Debt issuance costs				55,600,000				55,600,000		73,100,000
Unamortized discount				$ 192,600,000				192,600,000		$ 111,400,000
Purchases of convertible note hedges								144,700,000	0
Proceeds from issuance of warrants								85,200,000	0
Repayments of borrowings								1,411,600,000	287,600,000
Proceeds from debt issuance								$ 701,200,000	$ 2,581,900,000
2.625% Notes, Series B
Debt Instrument [Line Items]
Long-term debt			$ 356,900,000
Debt instrument, interest rate (as a percent)			2.625%	2.625%				2.625%		2.625%
Debt instrument, conversion ratio (in shares)			95.2381
Debt conversion, principal amount of notes			$ 1,000
Conversion price per share (in dollars per share) \| $ / shares			$ 10.50
Debt conversion, amount converted		$ 445,000,000
Amounts previously recorded to APIC reclassified to mezzanine equity										$ 32,900,000
Loss on debt refinancing and prepayment		0
Carrying Amount		0		$ 0				$ 0		$ 356,400,000
Reduction to additional paid in capital		$ 55,700,000
Term Loan “B” Facility due 2023
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)				3.49%				3.49%		4.02%
Carrying Amount				$ 1,604,500,000				$ 1,604,500,000		$ 2,394,000,000
Legal and other fees	$ 2,400,000				$ 2,400,000
Debt issuance costs				35,900,000				35,900,000		61,800,000
Repayments of debt	575,000,000				562,100,000
Unamortized discount				17,400,000				17,400,000		29,900,000
Repayments of borrowings				200,000,000
Write off of unamortized debt issuance cost				6,700,000
Cash used to repay debt	12,900,000
Unamortized debt issuance costs	$ 20,600,000				$ 20,600,000
Revolving Credit Facility due 2021
Debt Instrument [Line Items]
Carrying Amount				$ 0				0		0
Proceeds from lines of credit								$ 59,500,000
Repayments of borrowings							$ 120,000,000
1.625% Notes \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)	1.625%			1.625%	1.625%			1.625%
Debt instrument, conversion ratio (in shares)	48.2567
Debt conversion, principal amount of notes	$ 1,000							$ 1,000
Conversion price per share (in dollars per share) \| $ / shares	$ 20.72				$ 20.72
Amounts previously recorded to APIC reclassified to mezzanine equity								115,700,000
Carrying Amount				$ 575,000,000				575,000,000		0
Principal amounts of debt	$ 575,000,000.0				$ 575,000,000.0
Legal and other fees	13,700,000				13,700,000
Debt issuance costs	11,100,000			$ 10,400,000	11,100,000			$ 10,400,000		0
Debt issuance costs allocated to conversion option					2,600,000
Debt instrument, redemption price (percentage)								100.00%
Debt instrument, effective interest rate (as a percent)				5.38%				5.38%
Unamortized discount				$ 108,200,000				$ 108,200,000		$ 0
Option to purchase warrants, price per share (in dollars per share) \| $ / shares				$ 30.70				$ 30.70
Proceeds from issuance of warrants								$ 85,200,000
Proceeds from debt issuance	$ 562,100,000
Eurocurrency Loans \| Term Loan “B” Facility due 2023
Debt Instrument [Line Items]
Write off of unamortized debt issuance cost					3,200,000
Extinguishment of debt					5,600,000
Third party fees					$ 2,400,000
Eurocurrency Loans \| LIBOR \| Term Loan “B” Facility due 2023
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)								2.25%
Adjustable Rate Loans \| LIBOR \| Term Loan “B” Facility due 2023
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)								1.25%
Adjustable Rate Loans \| Federal Funds Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)								0.50%
Adjustable Rate Loans \| Adjusted LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)								1.00%
Debt Conversion, Period One \| 1.625% Notes \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, threshold trading days (in trading days) \| trading_day								20
Debt instrument, consecutive trading-day period (in trading days) \| trading_day								30
Threshold percentage of stock price trigger (greater than or equal to)								130.00%
Debt Conversion, Period Two \| 1.625% Notes \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, consecutive trading-day period (in trading days) \| trading_day								5
Debt instrument, period after consecutive trading days (in days)								5 days
Ratio of trading price per 1000 principal amount (as a percent) (less than)								0.98
Revolving Credit Facility \| Eurocurrency Loans \| LIBOR \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)								1.75%
Revolving Credit Facility \| Adjustable Rate Loans \| LIBOR \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)								0.75%
Embedded Derivative Financial Instruments \| 1.625% Notes \| Convertible Debt
Debt Instrument [Line Items]
Conversion price per share (in dollars per share) \| $ / shares				$ 20.72				$ 20.72
Option to purchase warrants (in shares) \| shares				27.7				27.7
Purchases of convertible note hedges								$ 144,700,000

Earnings Per Share and Equity - Income per Share Calculations (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2017	Sep. 30, 2016	Sep. 29, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Net income (loss) attributable to ON Semiconductor Corporation	$ 108.7	$ (11.1)	$ 280.8	$ 48.2
Net income attributable to ON Semiconductor Corporation	$ 108.7	$ 10.1	$ 280.8	$ 71.2
Basic weighted average common shares outstanding (in shares)	422.2	415.8	421.0	414.4
Dilutive effect of share-based awards (in shares)	5.3	4.0	5.5	3.2
Diluted weighted average common shares outstanding (in shares)	427.5	419.8	426.5	417.6
Net income per common share attributable to ON Semiconductor Corporation:
Basic (in dollars per share)	$ 0.26	$ 0.02	$ 0.67	$ 0.17
Diluted (in dollars per share)	$ 0.25	$ 0.02	$ 0.66	$ 0.17

Earnings Per Share and Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2017	Sep. 30, 2016	Sep. 29, 2017	Sep. 30, 2016	Mar. 31, 2017	Dec. 31, 2016
Dividends Payable [Line Items]
Anti-dilutive shares	0	300,000	300,000	2,300,000
Payments of tax withholding for restricted shares	$ 11.4	$ 2.2	$ 25.0	$ 10.4
Common stock withheld underlying restricted stock units (less than)	700,000	200,000	1,600,000	1,100,000
Treasury stock, shares, reissued or retired during period			0
Non-controlling interest in consolidated subsidiary	$ 23.0		$ 23.0			$ 21.8
Net income attributable to non-controlling interest	$ 0.2	$ 0.5	1.2	$ 1.6
Dividends paid to non-controlling shareholder			$ 0.0	$ 1.9
1.00% Notes
Dividends Payable [Line Items]
Debt instrument, interest rate (as a percent)	1.00%		1.00%
Convertible Debt \| 1.00% Notes
Dividends Payable [Line Items]
Debt instrument, interest rate (as a percent)	1.00%		1.00%
Average price of common stock to exceed to include effect of additional potential shares (in dollars per share)			$ 25.96
Convertible Debt \| 1.00% Notes \| Embedded Derivative Financial Instruments
Dividends Payable [Line Items]
Conversion price per share (in dollars per share)	$ 18.5		$ 18.5
Convertible Debt \| 1.625% Notes
Dividends Payable [Line Items]
Debt instrument, interest rate (as a percent)	1.625%		1.625%		1.625%
Average price of common stock to exceed to include effect of additional potential shares (in dollars per share)			$ 30.70
Conversion price per share (in dollars per share)					$ 20.72
Convertible Debt \| 1.625% Notes \| Embedded Derivative Financial Instruments
Dividends Payable [Line Items]
Conversion price per share (in dollars per share)	$ 20.72		$ 20.72

Earnings Per Share and Equity - Summary of Share Repurchase Program (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 29, 2017	Jul. 01, 2016	Jul. 01, 2016	Sep. 29, 2017	Mar. 31, 2017
Equity, Class of Treasury Stock [Line Items]
Number of repurchased shares	0	0	0	1,600,000
Aggregate purchase price	$ 0.0			$ 25.0
Weighted-average purchase price per share (in dollars per share)	$ 0.00			$ 15.35
Available for future purchases at October 2, 2015	$ 603.2			$ 603.2
Treasury stock, shares, reissued or retired during period				0
Convertible Debt \| 1.625% Notes
Equity, Class of Treasury Stock [Line Items]
Number of repurchased shares				1,600,000
Share repurchased value				$ 25.0
Debt instrument, interest rate (as a percent)	1.625%			1.625%	1.625%

Share-Based Compensation - Summary Of Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 29, 2017	Mar. 31, 2017	Sep. 30, 2016	Sep. 29, 2017	Sep. 30, 2016
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense before income taxes	$ 16.8		$ 14.2	$ 52.7	$ 41.9
Related income tax benefits	5.9		0.0	18.4	0.0
Share-based compensation expense, net of taxes	10.9		14.2	34.3	41.9
U.S. federal statutory rate (as a percent)		35.00%
Cost of revenues
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense before income taxes	1.4		2.0	4.4	6.0
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense before income taxes	3.2		2.9	9.6	8.3
Selling and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense before income taxes	2.8		2.6	8.8	7.2
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense before income taxes	$ 9.4		$ 6.7	$ 29.9	$ 20.4

Share-Based Compensation - Narrative (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2017	Sep. 30, 2016	Sep. 29, 2017	Sep. 30, 2016	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash received from exercise of stock options			$ 10.9	$ 5.1
Amended And Restated Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate of common stock available for grant	39.6		39.6		19.8
Employee Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense on non-vested stock options	$ 0.1		$ 0.1
Stock option, weighted average period for recognition			6 months
Total intrinsic value of stock options exercised	2.3		$ 9.8
Cash received from exercise of stock options	$ 1.7		$ 10.9
Options pre-vesting forfeitures estimated	11.00%	11.00%	11.00%	11.00%
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense on non-vested stock options	$ 83.7		$ 83.7
Stock option, weighted average period for recognition			1 year 9 months 24 days
Options pre-vesting forfeitures estimated	5.00%	5.00%	5.00%	5.00%
Maximum award vesting period (in years)			3 years
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate of common stock available for grant	8.9		8.9		4.9

Share-Based Compensation - Summary Of Stock Option Plans (Details) $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended
	Sep. 29, 2017 USD ($) $ / shares shares
Number of Shares
Number of Shares, Outstanding Beginning (in shares) \| shares	3.3
Number of Shares, Granted (in shares) \| shares	0.0
Number of Shares, Exercised (in shares) \| shares	(1.4)
Number of Shares, Canceled (in shares) \| shares	0.0
Number of Shares, Outstanding Ending (in shares) \| shares	1.9
Number of Shares, Exercisable (in shares) \| shares	1.9
Weighted-Average Exercise Price Per Share
Weighted-Average Exercise Price, Outstanding Beginning (in dollars per share) \| $ / shares	$ 7.75
Weighted-Average Exercise Price. Granted (in dollars per share) \| $ / shares	0.00
Weighted-Average Exercise Price, Exercised (in dollars per share) \| $ / shares	8.08
Weighted-Average Exercise Price, Canceled (in dollars per share) \| $ / shares	0.00
Weighted-Average Exercise Price, Outstanding Ending (in dollars per share) \| $ / shares	7.50
Weighted-Average Exercise Price, Exercisable (in dollars per share) \| $ / shares	$ 7.50
Weighted Average Remaining Contractual Term (in years), Outstanding	1 year 4 months 13 days
Weighted-Average Remaining Contractual Term (in years), Exercisable	1 year 4 months 13 days
Aggregate Intrinsic Value (In-The-Money), Outstanding \| $	$ 21.3
Aggregate Intrinsic Value (In-The-Money), Exercisable \| $	$ 21.3

Share-Based Compensation - Additional Information On Stock Options Outstanding (Details) shares in Millions	9 Months Ended
	Sep. 29, 2017 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share price (in dollars per share)	$ 18.47
Number of Shares, Exercisable (in shares) \| shares	1.9
Weighted Average Exercise Price Per Share, Exercisable (in dollars per share)	$ 7.50
Number of Shares, Unexercisable (in shares) \| shares	0.0
Weighted Average Exercise Price Per Share, Unexercisable (in dollars per share)	$ 0.00
Number of Shares, Total (in shares) \| shares	1.9
Weighted Average Exercise Price Per Share, Total (in dollars per share)	$ 7.50
Less than $18.47
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, upper range limit (in dollars per share)	$ 18.47
Number of Shares, Exercisable (in shares) \| shares	1.9
Weighted Average Exercise Price Per Share, Exercisable (in dollars per share)	$ 7.50
Number of Shares, Unexercisable (in shares) \| shares	0.0
Weighted Average Exercise Price Per Share, Unexercisable (in dollars per share)	$ 0.00
Number of Shares, Total (in shares) \| shares	1.9
Weighted Average Exercise Price Per Share, Total (in dollars per share)	$ 7.50
Above $18.47
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise rice range, lower range limit (in dollars per share)	$ 18.47
Number of Shares, Exercisable (in shares) \| shares	0.0
Weighted Average Exercise Price Per Share, Exercisable (in dollars per share)	$ 0.00
Number of Shares, Unexercisable (in shares) \| shares	0.0
Weighted Average Exercise Price Per Share, Unexercisable (in dollars per share)	$ 0.00
Number of Shares, Total (in shares) \| shares	0.0
Weighted Average Exercise Price Per Share, Total (in dollars per share)	$ 0.00

Share-Based Compensation - Summary Of Restricted Stock Units Transactions (Details) - Restricted Stock Units shares in Millions	9 Months Ended
	Sep. 29, 2017 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested shares underlying restricted stock units, beginning (in shares) \| shares	9.7
Restricted stock units granted (in shares) \| shares	4.1
Restricted stock units achieved (in shares) \| shares	1.2
Restricted stock units released (in shares) \| shares	(4.7)
Restricted stock units forfeited (in shares) \| shares	(0.2)
Nonvested shares underlying restricted stock units, ending (in shares) \| shares	10.1
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted Average Grant Date Fair Value, Nonvested, beginning (in dollars per share) \| $ / shares	$ 10.10
Weighted Average Grant Date Fair Value, Granted (in dollars per share) \| $ / shares	15.19
Weighted Average Grant Date Fair Value, Achieved (in dollars per share) \| $ / shares	9.01
Weighted-Average Grant Date Fair Value, Released (in dollars per share) \| $ / shares	9.63
Weighted Average Grant Date Fair Value, Forfeited (in dollars per share) \| $ / shares	11.86
Weighted Average Grant Date Fair Value, Nonvested, ending (in dollars per share) \| $ / shares	$ 0

Commitments and Contingencies - Operating Leases Future Minimum Payments Receivable (Details) $ in Millions	9 Months Ended
	Sep. 29, 2017 USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Remainder of 2017	$ 9.7
2018	32.0
2019	27.2
2020	19.6
2021	14.3
Thereafter	57.8
Total	160.6
Sublease Income	$ 16.6

Commitments and Contingencies - Narrative (Details) $ in Thousands											1 Months Ended										4 Months Ended	6 Months Ended	9 Months Ended	12 Months Ended
	Oct. 18, 2017 review	Sep. 29, 2017 USD ($) claim patent	Sep. 22, 2017 review	Aug. 14, 2017 patent	Mar. 09, 2017 patent	Nov. 01, 2016 patent	Sep. 19, 2016 facility	Aug. 11, 2016 patent	Nov. 27, 2013 USD ($)	Oct. 14, 2008 claim	Dec. 31, 2015 USD ($)	Jun. 30, 2015 USD ($)	Nov. 30, 2014 USD ($)	Mar. 31, 2014 USD ($) patent	Mar. 31, 2013 USD ($)	May 31, 2012 patent	Apr. 30, 2012 claim	Jan. 31, 2011 USD ($)	Dec. 31, 2008 USD ($)	Oct. 31, 2006 claim product	Aug. 31, 2017 review	Aug. 31, 2016 patent review	Sep. 29, 2017 USD ($) claim	Dec. 31, 2015 patent	Dec. 31, 2009 patent	Dec. 31, 2008 claim	Dec. 31, 2006 USD ($)	Dec. 31, 2004 patent	Dec. 31, 2016 USD ($)
Loss Contingencies [Line Items]
Outstanding guarantees and letters of credit		$ 5,700																					$ 5,700
Guarantees related to capital lease obligations		125,100																					125,100
Long-term debt		3,191,100																					3,191,100						$ 3,806,800
Inter party review \| review																					10
Notes Payable to Banks
Loss Contingencies [Line Items]
Long-term debt		132,100																					132,100						$ 160,400
Revolving Credit Facility \| Line of Credit
Loss Contingencies [Line Items]
Line of credit, current borrowing capacity		15,000																					15,000
Letter of Credit \| Line of Credit
Loss Contingencies [Line Items]
Credit commitment outstanding		$ 400																					$ 400
Power Integrations, Inc.
Loss Contingencies [Line Items]
Number of outstanding proceedings \| claim		7																					7
Power Integrations, Inc. \| Minimum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss																							$ 4,000
Power Integrations, Inc. \| Maximum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss																							$ 20,000
Power Integrations, Inc., USPTO
Loss Contingencies [Line Items]
Number of outstanding proceedings \| claim		9																					9
Inter party review \| review																						12
Patents reviewed and found unpatentable \| review			9																			9
Power Integrations, Northern District of California, 2016
Loss Contingencies [Line Items]
Loss contingency, number of patents allegedly infringed upon \| patent						6
Gain contingency, number of patents allegedly infringed upon \| patent				8
Number of patents requiring declaratory judgment \| patent				1
Power Integrations, Arizona, 2016
Loss Contingencies [Line Items]
Gain contingency, number of patents allegedly infringed upon \| patent								6
Number of patents requiring declaratory judgment \| patent								3
Power Integrations, Delaware, 2017
Loss Contingencies [Line Items]
Loss contingency, number of patents allegedly infringed upon \| patent		7
Gain contingency, number of patents allegedly infringed upon \| patent					6
Fairchild
Loss Contingencies [Line Items]
Number of business acquired \| facility							2
Maximum remediation cost recoveries receivable		$ 150,000																					$ 150,000
Fairchild \| Power Integrations, Inc.
Loss Contingencies [Line Items]
Number of outstanding proceedings \| claim		5																					5
Fairchild \| Power Integrations, Delaware, 2004
Loss Contingencies [Line Items]
Number of outstanding proceedings \| claim																				7
Loss contingency, number of patents allegedly infringed upon																										2		4
Loss contingency, number of products that infringed upon patents \| product																				33
Litigation settlement, amount paid																		$ 12,200	$ 6,100								$ 34,000
Fairchild \| Power Integrations, Delaware, 2004 \| Minimum
Loss Contingencies [Line Items]
Value of sales and imports of affected products															$ 500
Fairchild \| Power Integrations, Delaware, 2004 \| Maximum
Loss Contingencies [Line Items]
Value of sales and imports of affected products															$ 750
Fairchild \| Power Integrations, Delaware, 2008
Loss Contingencies [Line Items]
Loss contingency, number of patents allegedly infringed upon \| claim																	4									3
Gain contingency, number of patents allegedly infringed upon \| claim										2
Loss contingency, number of patents found infringed upon \| claim																	2
Loss contingency, number of patents infringed upon \| claim																	1
Fairchild \| Power Integrations, Delaware, 2012
Loss Contingencies [Line Items]
Loss contingency, number of patents allegedly infringed upon \| patent																5
Gain contingency, number of patents allegedly infringed upon \| patent																3
Loss contingency, number of patents found infringed upon \| patent																1
Litigation settlement, amount awarded from other party												$ 2,400
Fairchild \| Power Integrations, Delaware, 2012, 2
Loss Contingencies [Line Items]
Loss contingency, number of patents allegedly infringed upon \| claim																	2
Litigation settlement, amount paid												$ 100
Loss contingency, number of patents infringed upon \| claim																	1
Fairchild \| Power Integrations, Northern District of California, 2009
Loss Contingencies [Line Items]
Loss contingency, number of patents allegedly infringed upon \| patent																									3
Litigation settlement, amount paid											$ 139,800			$ 105,000
Gain contingency, number of patents allegedly infringed upon \| patent																									2
Loss contingency, number of patents infringed upon \| patent														2
Gain contingency, number of patents not infringed upon \| patent														1
Litigation settlement, amount vacated													$ 105,000
Litigation settlement interest											$ 7,000
Fairchild \| Power Integrations, Northern District of California, 2015
Loss Contingencies [Line Items]
Loss contingency, number of patents allegedly infringed upon \| patent																								2
Gain contingency, number of patents allegedly infringed upon \| patent																								4
Fairchild \| Acbel Polytech, Inc.
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss									$ 17,000
ON Semi, SCI, and Fairchild \| Power Integrations, Inc., USPTO
Loss Contingencies [Line Items]
Loss contingency, number of patents allegedly infringed upon \| patent																						6
Fairchild
Loss Contingencies [Line Items]
Business acquisition, maximum indemnification period																							6 years
Subsequent Event \| Power Integrations, Inc., USPTO
Loss Contingencies [Line Items]
Patents reviewed and found unpatentable \| review	9

Fair Value Measurements - Fair Value of Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Sep. 29, 2017	Dec. 31, 2016
Fair Value, Inputs, Level 1
Liabilities
Contingent consideration	$ 0.0	$ 0.0
Fair Value, Inputs, Level 1 \| Demand and time deposits
Assets
Cash and cash equivalents	20.8	67.2
Fair Value, Inputs, Level 1 \| Money market funds
Assets
Cash and cash equivalents	0.3	30.3
Fair Value, Inputs, Level 2
Liabilities
Contingent consideration	0.0	0.0
Fair Value, Inputs, Level 2 \| Demand and time deposits
Assets
Cash and cash equivalents	0.0	0.0
Fair Value, Inputs, Level 2 \| Money market funds
Assets
Cash and cash equivalents	0.0	0.0
Fair Value, Inputs, Level 3
Liabilities
Contingent consideration	6.5	4.5
Fair Value, Inputs, Level 3 \| Demand and time deposits
Assets
Cash and cash equivalents	0.0	0.0
Fair Value, Inputs, Level 3 \| Money market funds
Assets
Cash and cash equivalents	0.0	0.0
Estimate of Fair Value
Liabilities
Contingent consideration	6.5	4.5
Estimate of Fair Value \| Demand and time deposits
Assets
Cash and cash equivalents	20.8	67.2
Estimate of Fair Value \| Money market funds
Assets
Cash and cash equivalents	$ 0.3	$ 30.3

- Carrying Amounts and Fair Values of Long-Term Borrowings (Details) - USD ($) $ in Millions	Sep. 29, 2017	Dec. 31, 2016
Carrying Amount	$ 3,191.1	$ 3,806.8
Convertible notes
Carrying Amount	1,070.1	953.6
Fair Value	1,489.7	1,160.9
Long-term debt
Carrying Amount	1,832.0	2,616.3
Fair Value	$ 1,849.9	$ 2,731.5

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	Oct. 10, 2017	Sep. 29, 2017	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Cost method Investments, fair value		$ 12.6		$ 12.3
1.00% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)		1.00%
Convertible Debt \| 1.00% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)		1.00%
Convertible Debt \| 1.625% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)		1.625%	1.625%
Subsequent Event
Debt Instrument [Line Items]
Incremental share of Fujitsu production facility purchased (percent)	30.00%
Total ownership percentage in Fujitsu production facility	40.00%
Amount paid for current ownership in Fujitsu production facility	$ 18.0
Required increase in ownership percentage between one and three months following third closing date (percent)	60.00%
Required increase in ownership percentage between nine and twenty-one months following third closing date (percent)	100.00%

Financial Instruments - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
Financial Instruments - Narrative (Details) - USD ($)	Sep. 29, 2017	Sep. 30, 2016	Sep. 29, 2017	Sep. 30, 2016	Mar. 31, 2017	Jan. 11, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Foreign currency transaction gain (loss), realized	$ 2,600,000	$ (500,000)	$ 5,400,000	$ (3,800,000)
Effects of cash flow hedges	(200,000)	0	500,000	(100,000)
Cash Flow Hedging \| Reclassification out of Accumulated Other Comprehensive Income \| Cost of revenues \| Effects of Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Effects of cash flow hedges	0	$ 0	0	$ 200,000
Foreign currency exchange contracts
Derivatives, Fair Value [Line Items]
Notional amount	167,000,000		$ 167,000,000				$ 95,900,000
Foreign currency exchange contracts \| Minimum
Derivatives, Fair Value [Line Items]
Derivative, term of contract (in months)			1 month
Foreign currency exchange contracts \| Maximum
Derivatives, Fair Value [Line Items]
Derivative, term of contract (in months)			3 months
Interest Rate Swap Expiring December 29, 2017
Derivatives, Fair Value [Line Items]
Notional amount						$ 500,000,000.0
Interest Rate Swap Expiring December 31, 2018
Derivatives, Fair Value [Line Items]
Notional amount						750,000,000.0
Interest Rate Swap Expiring December 31, 2019
Derivatives, Fair Value [Line Items]
Notional amount						$ 1,000,000,000.0
Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Notional amount	$ 500,000,000		$ 500,000,000
Convertible Debt \| 1.625% Notes
Derivatives, Fair Value [Line Items]
Debt instrument, interest rate (as a percent)	1.625%		1.625%		1.625%

Financial Instruments - Schedule of Net Foreign Exchange Positions (Details) - Foreign currency exchange contracts - USD ($) $ in Millions	Sep. 29, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Buy (Sell)	$ (52.0)	$ (34.5)
Notional Amount	167.0	95.9
Other Currencies - Buy
Derivatives, Fair Value [Line Items]
Buy (Sell)	34.0	(6.1)
Notional Amount	34.0	6.1
Other Currencies - Sell
Derivatives, Fair Value [Line Items]
Buy (Sell)	(14.1)	14.9
Notional Amount	14.1	14.9
Euro
Derivatives, Fair Value [Line Items]
Buy (Sell)	(47.7)	(25.4)
Notional Amount	47.7	25.4
Japanese Yen
Derivatives, Fair Value [Line Items]
Buy (Sell)	(47.7)	(33.7)
Notional Amount	47.7	33.7
Philippine Peso
Derivatives, Fair Value [Line Items]
Buy (Sell)	23.5	15.8
Notional Amount	$ 23.5	$ 15.8

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 29, 2017	Mar. 31, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	35.30%
U.S. federal statutory rate (as a percent)		35.00%
Unrecognized tax benefits, income tax penalties and interest accrued	$ 5.3		$ 4.7
Possible reduction in unrecognized tax benefits in next twelve months	$ 9.0

Changes in Accumulated Other Comprehensive Loss - Components of Other Comprehensive Income (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 29, 2017	Sep. 30, 2016	Sep. 29, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income tax benefit	$ (59,400,000)	$ (76,700,000)	$ (144,500,000)	$ (89,600,000)
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning			1,845,000,000
Other comprehensive income (loss) prior to reclassifications			6,300,000
Amounts reclassified from accumulated other comprehensive loss			100,000
Other comprehensive income, net of tax	0	$ 800,000	6,400,000	$ 3,700,000
Balance, ending	2,235,400,000		2,235,400,000
Foreign currency translation adjustment, tax			0
Cash flow hedges, tax			300,000
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning			(50,200,000)
Other comprehensive income (loss) prior to reclassifications			6,900,000
Amounts reclassified from accumulated other comprehensive loss			0
Other comprehensive income, net of tax			6,900,000
Balance, ending	(43,300,000)		(43,300,000)
Effects of Cash Flow Hedges
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning			0
Other comprehensive income (loss) prior to reclassifications			(600,000)
Amounts reclassified from accumulated other comprehensive loss			100,000
Other comprehensive income, net of tax			(500,000)
Balance, ending	(500,000)		(500,000)
Total
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning			(50,200,000)
Balance, ending	$ (43,800,000)		(43,800,000)
Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income tax benefit			$ 200,000

Changes in Accumulated Other Comprehensive Loss - Reclassifications from Accumulated Other Comprehensive Loss (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 29, 2017	Sep. 30, 2016	Sep. 29, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassifications, tax	$ 0	$ 0	$ 0	$ 0
Cost of revenues	866,700,000	621,900,000	2,646,000,000	1,733,500,000
Other income and expense	9,000,000	(40,600,000)	88,400,000	18,000,000
Net income	(108,900,000)	(10,600,000)	(282,000,000)	(72,800,000)
Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of revenues	0	0	0	200,000
Other income and expense	(300,000)	0	(100,000)	0
Net income	$ (300,000)	$ 0	$ (100,000)	$ 200,000

Supplemental Disclosures (Non-Cash Financing Activities And Cash Payments) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 29, 2017	Sep. 30, 2016
Non-cash activities:
Debt issuance costs paid directly from escrow accounts	$ 0.0	$ 46.0
Capital expenditures in accounts payable and other liabilities	213.4	88.3
Cash (received) paid for:
Interest income	(1.8)	(3.8)
Interest expense	67.4	72.7
Income taxes	$ 48.9	$ 19.1

Segment Information (Segment Information Of Revenues, Gross Profit And Operating Income) (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2017 USD ($)	Sep. 30, 2016 USD ($)	Sep. 29, 2017 USD ($) segment	Sep. 30, 2016 USD ($)
Segment Reporting [Abstract]
Number of operating segments \| segment			3
Number of reportable segments \| segment			3
Segment Reporting Information [Line Items]
Revenues from external customers	$ 1,390.9	$ 950.9	$ 4,165.6	$ 2,645.9
Gross profit	533.4	344.0	1,553.6	945.9
Power Solutions Group
Segment Reporting Information [Line Items]
Revenues from external customers	706.4	407.8	2,121.6	1,088.4
Gross profit	244.1	142.2	716.7	361.9
Analog Solutions Group
Segment Reporting Information [Line Items]
Revenues from external customers	491.6	363.1	1,463.7	1,012.0
Gross profit	208.3	144.4	613.5	404.1
Image Sensor Group
Segment Reporting Information [Line Items]
Revenues from external customers	192.9	180.0	580.3	545.5
Gross profit	$ 81.0	$ 57.4	$ 223.4	$ 179.9

Segment Information (Reconciliations Of Segment Gross Profit And Segment Operating Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2017	Sep. 30, 2016	Sep. 29, 2017	Sep. 30, 2016
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross profit	$ 524.2	$ 329.0	$ 1,519.6	$ 912.4
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross profit	533.4	344.0	1,553.6	945.9
Less: unallocated manufacturing costs
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Less: unallocated manufacturing costs	$ (9.2)	$ (15.0)	$ (34.0)	$ (33.5)

Segment Information (Revenues By Geographic Location Including Local Sales And Exports) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2017	Sep. 30, 2016	Sep. 29, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Revenues	$ 1,390.9	$ 950.9	$ 4,165.6	$ 2,645.9
United States
Segment Reporting Information [Line Items]
Revenues	171.3	140.7	560.2	421.1
Japan
Segment Reporting Information [Line Items]
Revenues	110.4	85.3	321.4	251.2
Hong Kong
Segment Reporting Information [Line Items]
Revenues	477.6	258.9	1,394.9	654.0
Singapore
Segment Reporting Information [Line Items]
Revenues	360.7	281.4	1,038.6	783.8
United Kingdom
Segment Reporting Information [Line Items]
Revenues	154.1	132.4	472.9	407.6
Other
Segment Reporting Information [Line Items]
Revenues	$ 116.8	$ 52.2	$ 377.6	$ 128.2

Segment Information (Summary of Property, Plant and Equipment by Geographic Location) (Details) - USD ($) $ in Millions	Sep. 29, 2017	Dec. 31, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 2,238.2	$ 2,159.1
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	551.2	548.1
Korea
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	376.3	385.9
Malaysia
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	233.1	224.0
Philippines
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	416.7	381.7
China
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	243.3	217.7
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 417.6	$ 401.7