Fairchild Semiconductor International (FCS) 10-Q 10 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 26, 2016	Jul. 24, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 26, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	FCS
Entity Registrant Name	FAIRCHILD SEMICONDUCTOR INTERNATIONAL INC
Entity Central Index Key	1,036,960
Current Fiscal Year End Date	--12-25
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		114,830,584

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 26, 2016	Dec. 27, 2015
Current assets:
Cash and cash equivalents	$ 329	$ 279.4
Short-term marketable securities	0.1	0.2
Accounts receivable, net of allowances of $47.0 and $36.2 at June 26, 2016 and December 27, 2015, respectively	149.2	132.6
Inventories, net	273.2	304.2
Other current assets	38.8	50.5
Total current assets	790.3	766.9
Property, plant and equipment, net	525.5	550.4
Deferred income taxes, net of allowances	18.6	16.8
Intangible assets, net	24	27.5
Goodwill	205.9	204.5
Long-term marketable securities	2	2
Other assets	18.3	17.8
Total assets	1,584.6	1,585.9
Current liabilities:
Accounts payable	99.3	110.6
Accrued expenses and other current liabilities	93.1	115.6
Total current liabilities	192.4	226.2
Long-term debt	198.9	198.4
Deferred income taxes	35.3	34.2
Other liabilities	25.5	24.6
Total liabilities	452.1	483.4
Commitments and contingencies
Temporary equity - deferred stock units	4.6	6.3
Stockholders' equity:
Common stock	1.4	1.4
Additional paid-in capital	1,565.3	1,560.6
Accumulated deficit	(41.1)	(62.7)
Accumulated other comprehensive loss	(10.1)	(15.5)
Treasury stock, at cost	(387.6)	(387.6)
Total stockholders' equity	1,127.9	1,096.2
Total liabilities, temporary equity and stockholders' equity	$ 1,584.6	$ 1,585.9

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 26, 2016	Dec. 27, 2015
Accounts receivable, allowances	$ 47	$ 36.2

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015
Total revenue	$ 350	$ 355.2	$ 677	$ 710.9
Cost of sales	246.9	245.4	473.8	493.1
Gross margin	$ 103.1	$ 109.8	$ 203.2	$ 217.8
Gross margin %	29.50%	30.90%	30.00%	30.60%
Operating expenses:
Research and development	$ 41.6	$ 42.3	$ 81.7	$ 84
Selling, general and administrative	47.7	57.8	96.3	110.5
Amortization of acquisition-related intangibles	1.9	2.1	3.8	4.2
Restructuring, impairments, and other costs	0.6	4.2	(10.3)	8.9
Charge for litigation	0.5		0.5
Goodwill impairment charge				0.6
Total operating expenses	92.3	106.4	172	208.2
Operating income	10.8	3.4	31.2	9.6
Other expense, net	1.2	1.6	2.8	2.8
Income before income taxes	9.6	1.8	28.4	6.8
Provision for income taxes	2.7	2.7	6.7	6.6
Net income (loss)	$ 6.9	$ (0.9)	$ 21.7	$ 0.2
Net income (loss) per common share:
Basic	$ 0.06	$ (0.01)	$ 0.19
Diluted	$ 0.06	$ (0.01)	$ 0.19
Weighted average common shares:
Basic	114.7	116.1	114.3	116.7
Diluted	116.4	116.1	116.5	119.2

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015
Net income (loss)		$ 6.9	$ (0.9)	$ 21.7	$ 0.2
Other comprehensive income (loss), net of tax:
Net change associated with hedging transactions	[1]		(0.8)	(0.4)	1.5
Net amount reclassified to earnings for hedging	[2]	1.3	(0.7)	3.7	(0.6)
Net change associated with fair value of securities		0.1		0.1
Net change associated with pension transactions		0.1		0.1	0.1
Foreign currency translation adjustment		0.7	1	1.9	(4.3)
Total other comprehensive income (loss), net of tax		2.2	(0.5)	5.4	(3.3)
Comprehensive income (loss)		$ 9.1	$ (1.4)	$ 27.1	$ (3.1)
[1]	Net of tax of $0.8 million in the second quarter and the first six months of 2015.
[2]	Three Months Ended Six Months Ended June 26, 2016 June 28, 2015 June 26, 2016 June 28, 2015 Net amount reclassified for cash flow hedges included in total revenue $ 0.2 $ (6.3 ) $ 0.2 $ (4.1 ) Net amount reclassified for cash flow hedges included in cost of sales 1.0 4.7 3.0 3.0 Net amount reclassified for cash flow hedges included in research and development 0.1 0.9 0.5 0.5 Total net amount reclassified to earnings for hedging $ 1.3 $ (0.7 ) $ 3.7 $ (0.6 )

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015
Net amount reclassified to earnings for hedging	[1]	$ 1.3	$ (0.7)	$ 3.7	$ (0.6)
Net change associated with hedging transactions, tax			0.8		0.8
Total revenue
Net amount reclassified to earnings for hedging		0.2	(6.3)	0.2	(4.1)
Cost of Sales
Net amount reclassified to earnings for hedging		1	4.7	3	3
Research and Development
Net amount reclassified to earnings for hedging		$ 0.1	$ 0.9	$ 0.5	$ 0.5
[1]	Three Months Ended Six Months Ended June 26, 2016 June 28, 2015 June 26, 2016 June 28, 2015 Net amount reclassified for cash flow hedges included in total revenue $ 0.2 $ (6.3 ) $ 0.2 $ (4.1 ) Net amount reclassified for cash flow hedges included in cost of sales 1.0 4.7 3.0 3.0 Net amount reclassified for cash flow hedges included in research and development 0.1 0.9 0.5 0.5 Total net amount reclassified to earnings for hedging $ 1.3 $ (0.7 ) $ 3.7 $ (0.6 )

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015
Cash flows from operating activities:
Net income	$ 21.7	$ 0.2
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	55	72
Non-cash stock-based compensation expense	14.6	16.6
Non-cash financing expense	0.5	0.7
Goodwill impairment charge		0.6
Gain on disposal of restructuring assets, including assets held for sale	(12.7)	(0.2)
Loss on disposal of property, plant and equipment	0.9	0.3
Deferred income taxes, net	(0.7)	(0.5)
Changes in operating assets and liabilities
Accounts receivable, net	(16.6)	(30.2)
Inventories	31.1	(23.4)
Other current assets	7.7	(1.6)
Accounts payable	(12)	11
Accrued expenses and other current liabilities	(17.8)	(14.2)
Other assets and liabilities, net	0.3	2.6
Net cash provided by operating activities	72	33.9
Cash flows from investing activities:
Capital expenditures	(25.8)	(29)
Proceeds from the sale of restructuring property, plant and equipment, including held for sale assets	15.9	1.6
Proceeds from the sale of property, plant and equipment		0.1
Purchase of molds and tooling	(0.6)	(0.5)
Maturity of marketable securities	0.2	0.1
Net cash used in investing activities	(10.3)	(27.7)
Cash flows from financing activities:
Proceeds from issuance of stock for share-based compensation arrangements	0.3	1.4
Purchase of treasury stock		(60.5)
Shares withheld for employee taxes	(12.4)	(9.9)
Debt financing costs		(0.1)
Net cash used in financing activities	(12.1)	(69.1)
Net change in cash and cash equivalents	49.6	(62.9)
Cash and cash equivalents at beginning of period	279.4	352.9
Cash and cash equivalents at end of period	$ 329	$ 290

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 26, 2016
Basis of Presentation	Note 1 – Basis of Presentation The accompanying interim consolidated financial statements of Fairchild Semiconductor International, Inc. (“Fairchild Semiconductor”, “we”, “our” or “ the company”) have been prepared in conformity with accounting principles generally accepted in the United States of America, consistent in all material respects with those applied in our Annual Report on Form 10-K for the year ended December 27, 2015. The interim financial information is unaudited, but reflects all normal adjustments, which are, in the opinion of management, necessary to provide a fair statement of results for the interim periods presented. The financial statements should be read in conjunction with the financial statements in our Annual Report on Form 10-K for the year ended December 27, 2015. Our accounting policies are described in the “Notes to Consolidated Financial Statements” in our Annual Report on Form 10-K and updated, as necessary, in Form 10-Q. The results for the interim periods are not necessarily indicative of the results of operations that may be expected for the full year. Our fiscal calendar, in which each quarter ends on a Sunday, contains 53 weeks every seven years compared to the usual 52 weeks. This additional week is included in the first quarter of the year. Our results for the three months ended June 26, 2016 and June 28, 2015 both consisted of 13 weeks. Our results for the six months ended June 26, 2016 and June 28, 2015 both consisted of 26 weeks. The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. (U.S. GAAP) requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include the valuation of accounts receivable, inventories, goodwill, investments, intangible assets and other long-lived assets, business combinations, loss contingencies, and assumptions used in the calculation of income taxes, valuation of deferred tax assets, and customer incentives, among others. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. We adjust such estimates and assumptions when facts and circumstances dictate. Illiquid credit markets, volatile equity, foreign currency markets, and declines in consumer spending have combined to increase the uncertainty inherent in such estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. Pending Acquisition On November 18, 2015, Fairchild Semiconductor entered into an Agreement and Plan of Merger (the “Merger Agreement”) with ON Semiconductor Corporation and its wholly owned subsidiary, Falcon Operations Sub, Inc. (together, “ON Semiconductor”), under which ON Semiconductor agreed to acquire Fairchild Semiconductor. The total transaction value is expected to be approximately $2.4 billion. Under the terms of the Merger Agreement, on December 4, 2015, ON Semiconductor commenced a tender offer to acquire outstanding shares of Fairchild Semiconductor common stock from our stockholders for $20.00 per share, net to each holder in cash (the “Offer Price”). The tender offer is described in a Tender Offer Statement on Schedule TO filed by ON Semiconductor with the Securities and Exchange Commission on December 4, 2015 (as amended, the “ON Schedule TO”). The closing of the tender offer is subject to various conditions, including there being validly tendered in the tender offer at least a majority of our then-outstanding shares, and the receipt of customary regulatory approvals in the U.S. and other countries. Following receipt of those approvals and after such time as all shares tendered in the tender offer are accepted for payment, the Merger Agreement provides for the parties to effect a merger which would result in all shares not tendered in the tender offer (other than shares held by (i) ON Semiconductor, Fairchild Semiconductor or their respective subsidiaries immediately prior to the effective time of the merger, and (ii) stockholders of Fairchild Semiconductor who properly exercised their appraisal rights under the Delaware General Corporation Law) being converted into the right to receive the Offer Price. In addition, immediately prior to the effective time of the merger, all outstanding options to purchase shares of Fairchild Semiconductor common stock, restricted stock units, deferred stock units and performance units will become fully vested and be converted into the right to receive the Offer Price (net of any applicable exercise price with respect to options). At the completion of the merger, Fairchild Semiconductor would become a wholly-owned subsidiary of ON Semiconductor. Additional information about our pending acquisition by ON Semiconductor is available in the Solicitation/Recommendation Statement on Schedule 14D-9 “Schedule 14D-9”). Schedule 14D-9, Schedule 14D-9, Form 10-K

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 26, 2016
Fair Value Measurements	Note 2 – Fair Value Measurements The assets and liabilities measured at fair value on a recurring basis include securities and derivatives. Financial instruments classified as Level 1 are securities traded on an active exchange as well as U.S. Treasury, and other U.S. government and agency-backed securities that are traded by dealers or brokers in active over-the-counter markets. The fair value of securities is based on quoted market prices at the date of measurement. All of our derivatives are traded in over-the-counter markets where quoted market prices are not readily available. For these derivatives, we measured fair value utilizing a third-party pricing service. The pricing service utilizes industry standard valuation models, including both income and market-based approaches and observable market inputs to determine value. These observable market inputs include reportable trades, benchmark yields, credit spreads, broker/dealer quotes, bids, offers, current spot rates and other industry and economic events. Accordingly, the fair value of these assets is classified as Level 2 within the fair value hierarchy. We do not have any financial instruments classified as Level 3. The tables below present information about our assets and liabilities that are regularly measured and carried at fair value and indicate the level within the fair value hierarchy of the valuation techniques we utilized to determine such fair value: As of June 26, 2016 Total Quoted Prices in Active Markets (Level 1) Significant Other Observable (Level 2) Significant Unobservable (Level 3) (In millions) Derivative contract assets $ 0.2 $ — $ 0.2 $ — Derivative contract liabilities (0.4 ) — (0.4 ) — Total derivative contracts $ (0.2 ) $ — $ (0.2 ) $ — Marketable securities $ 2.1 $ 2.1 $ — $ — As of December 27, 2015 Total Quoted Prices in Active Markets (Level 1) Significant Other Observable (Level 2) Significant Unobservable (Level 3) (In millions) Derivative contract assets $ 1.0 $ — $ 1.0 $ — Derivative contract liabilities (4.4 ) — (4.4 ) — Total derivative contracts $ (3.4 ) $ — $ (3.4 ) $ — Marketable securities $ 2.2 $ 2.2 $ — $ — The fair values of our debt instruments, which are classified as Level 2, are carried at amortized cost. The carrying amount of the revolving credit facility is considered to approximate fair value as the interest rate on the loan is in line with current market rates. Please refer to Note 8. Indebtedness As of June 26, 2016 As of December 27, 2015 Carrying Amount Estimated Fair Value Carrying Amount Estimated (In millions) Revolving credit facility borrowings $ 200.0 $ 200.0 $ 200.0 $ 200.0

Marketable Securities

Marketable Securities	6 Months Ended
	Jun. 26, 2016
Marketable Securities	Note 3 – Marketable Securities Our marketable securities are categorized as available-for-sale and are summarized as follows: As of June 26, 2016 Amortized Cost Gross Gains Gross Fair Value (In millions) U.S. Treasury securities and obligations of U.S. government agencies $ 0.1 $ — $ — $ 0.1 Total short-term marketable securities $ 0.1 $ — $ — $ 0.1 U.S. Treasury securities and obligations of U.S. government agencies $ 1.7 $ 0.2 $ — $ 1.9 Corporate debt securities 0.1 — — 0.1 Total long-term marketable securities $ 1.8 $ 0.2 $ — $ 2.0 As of December 27, 2015 Amortized Cost Gross Unrealized Gross Unrealized Fair Value (In millions) U.S. Treasury securities and obligations of U.S. government agencies $ 0.2 $ — $ — $ 0.2 Total short-term marketable securities $ 0.2 $ — $ — $ 0.2 U.S. Treasury securities and obligations of U.S. government agencies $ 1.7 $ 0.2 $ — $ 1.9 Corporate debt securities 0.1 — — 0.1 Total long-term marketable securities $ 1.8 $ 0.2 $ — $ 2.0 The amortized cost and estimated fair value of our marketable securities available-for-sale by contractual maturity are summarized as follows: As of June 26, 2016 Amortized Cost Fair Value (In millions) Due in one year or less $ 0.1 $ 0.1 Due after one year through five years 0.7 0.8 Due after five years through ten years 0.9 1.0 Due after ten years 0.2 0.2 $ 1.9 $ 2.1

Derivatives

Derivatives	6 Months Ended
	Jun. 26, 2016
Derivatives	Note 4 – Derivatives We used derivative instruments in the first six months of 2016 and fiscal year 2015 to manage exposures to changes in foreign currency exchange rates. The fair value of these hedges is recorded on the balance sheet. Please refer to Note 2 Fair Value Measurements Foreign Currency Forward Contracts - Hedging Instruments We used foreign currency forward contracts in the first six months of 2016 and fiscal year 2015 to hedge a portion of our forecasted foreign exchange denominated revenues and expenses. We monitor our foreign currency exposures in an effort to maximize the overall effectiveness of our foreign currency hedge positions. Our objective for holding derivatives is to minimize the risks using the most effective methods to eliminate or reduce the impacts of these exposures. The maturities of the hedges are 6 months or less as of the end of June 26, 2016. We have not entered into any new foreign currency forward contracts during the first six months of 2016. Changes in the fair value of derivative instruments related to time value are included in the assessment of hedge effectiveness. Hedge ineffectiveness did not have a material impact on earnings for the six months ended June 26, 2016. Derivative gains and losses included in AOCI are reclassified into earnings at the time the forecasted transaction is recognized. For derivative transactions related to inventory, the effective portion of foreign exchange gains and losses deferred in AOCI is reclassified into earnings as the underlying inventory is sold, using historical inventory turnover rates. We estimate that $0.2 million of net unrealized derivative losses included in AOCI will be reclassified into earnings within the next six months. The following tables present derivatives designated as hedging instruments: As of June 26, 2016 As of December 27, 2015 Balance Sheet Notional Fair Amount of Gain (Loss) Balance Sheet Notional Fair Amount of Gain (Loss) (In millions) (In millions) Derivatives Designated as Hedging Instruments Derivatives for forecasted revenues Other current assets $ 10.0 $ 0.1 $ 0.1 Other current assets $ 30.8 $ 0.7 $ 0.7 Derivatives for forecasted revenues Other current liabilities 1.1 (0.2 ) (0.2 ) Other current liabilities 7.6 (0.1 ) (0.1 ) Derivatives for forecasted expenses Other current assets 40.9 0.1 0.1 Other current assets 29.1 0.3 0.3 Derivatives for forecasted expenses Other current liabilities 10.4 (0.2 ) (0.2 ) Other current liabilities 121.0 (4.3 ) (4.3 ) Total foreign exchange contract derivatives $ 62.4 $ (0.2 ) $ (0.2 ) $ 188.5 $ (3.4 ) $ (3.4 ) For the Six Months For the Six Months Amount of Amount of Amount of Amount of (In millions) (In millions) Derivatives Designated as Hedging Instruments Total revenue $ (0.2 ) $ (0.2 ) $ 4.1 $ 4.1 Expenses (3.5 ) (3.5 ) (3.5 ) (3.5 ) Net gain (loss) recognized in income $ (3.7 ) $ (3.7 ) $ 0.6 $ 0.6 Gain (Loss) For the Six Months (In millions) Foreign exchange contracts $ 3.3 (1) This amount is inclusive of both realized and unrealized gains and losses recognized in OCI. The following tables present derivatives not designated as hedging instruments. As of June 26, 2016 As of December 27, 2015 Notional Fair Notional Fair (In millions) (In millions) Derivatives Not Designated as Hedging Instruments Other current assets $ — $ — $ 14.7 $ — Other current liabilities — — 5.4 — Total derivatives, net $ — $ — $ 20.1 $ — For the Six Months Ended June 26, 2016 June 28, 2015 Amount of Amount of Recognized (In millions) (In millions) Derivatives Not Designated as Hedging Instruments Total revenue $ — $ 0.1 Expenses — (0.7 ) Other expense, net (0.6 ) — Net loss recognized in income $ (0.6 ) $ (0.6 ) We net the fair value of all derivative financial instruments with counter-parties for which a master netting arrangement is utilized. The gross amounts of the derivative assets and liabilities are as follows: As of June 26, December 27, (In millions) Gross Assets $ 0.4 $ 1.0 Gross Liabilities (0.2 ) — Current Assets $ 0.2 $ 1.0 Gross Assets $ — $ — Gross Liabilities (0.4 ) (4.4 ) Current Liabilities $ (0.4 ) $ (4.4 )

Financial Statement Details

Financial Statement Details	6 Months Ended
	Jun. 26, 2016
Financial Statement Details	Note 5 – Financial Statement Details As of June 26, December 27, (In millions) Inventories, net Raw materials $ 37.9 $ 40.4 Work in process 140.7 157.6 Finished goods 94.6 106.2 Total inventories, net $ 273.2 $ 304.2 As of June 26, December 27, (In millions) Property, plant and equipment Land and improvements $ 17.0 $ 17.7 Buildings and improvements 289.5 284.6 Machinery and equipment 1,626.5 1,667.4 Construction in progress 19.2 52.1 Total property, plant and equipment 1,952.2 2,021.8 Less accumulated depreciation 1,426.7 1,471.4 Total property, plant, and equipment, net $ 525.5 $ 550.4 Assets classified as held for sale are required to be recorded at the lower of carrying value or fair value less any costs to sell. The carrying value of these assets, as of the second quarter of 2016 and the fourth quarter of 2015 was $12.5 million and $15.4 million, respectively and are reported in the other current assets line of our statement of financial position. The reduction in carrying value of $2.9 million is discussed in Note 9 Restructuring, Impairments and Other Costs . As of June 26, December 27, (In millions) Accrued expenses and other current liabilities Payroll and employee related accruals $ 55.7 $ 60.9 Accrued interest 0.5 0.4 Taxes payable 13.0 12.1 Restructuring 0.8 7.5 Other 23.1 34.7 Total accrued expenses and other current liabilities $ 93.1 $ 115.6 Three Months Ended Six Months Ended June 26, June 28, June 26, June 28, (In millions) Other expense, net Interest expense $ 1.3 $ 1.5 $ 2.8 $ 2.8 Interest income (0.2 ) (0.1 ) (0.4 ) (0.3 ) Other, net 0.1 0.2 0.4 0.3 Other expense, net $ 1.2 $ 1.6 $ 2.8 $ 2.8

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 26, 2016
Goodwill and Intangible Assets	Note 6 – Goodwill and Intangible Assets Our total goodwill balances were $205.9 million and $204.5 million at June 26, 2016 and December 27, 2015, respectively. The difference between the two periods relates to foreign exchange impacts of $1.4 million. Please refer to Note 7. Goodwill and Intangible Assets The following table presents the carrying amount of goodwill by reportable segment: SPS APSS SPG Total (In millions) Balance at June 26, 2016 Goodwill $ 219.6 $ 112.5 $ 77.7 $ 409.8 Accumulated impairment losses (114.5 ) (12.8 ) (76.6 ) (203.9 ) $ 105.1 $ 99.7 $ 1.1 $ 205.9 Foreign exchange impact $ — $ 1.4 $ — $ 1.4 Balance at December 27, 2015 Goodwill $ 219.6 $ 111.1 $ 77.7 $ 408.4 Accumulated impairment losses (114.5 ) (12.8 ) (76.6 ) (203.9 ) $ 105.1 $ 98.3 $ 1.1 $ 204.5 The following table presents a summary of acquired intangible assets: As of June 26, 2016 As of December 27, 2015 Period of Gross Carrying Accumulated Gross Carrying Accumulated (In millions) Developed technology 8-10 years $ 260.6 $ (249.7 ) $ 260.1 $ (248.1 ) Customer base 6-10 years 85.8 (82.6 ) 85.7 (80.9 ) Core technology 10-15 years 15.7 (8.0 ) 15.7 (7.4 ) In-process R&D 3-10 years 3.3 (1.4 ) 3.3 (1.2 ) Trademarks and trade names 5 years 0.5 (0.2 ) 0.5 (0.2 ) Total identifiable intangible assets $ 365.9 $ (341.9 ) $ 365.3 $ (337.8 ) Amortization expense for intangible assets was $3.8 million and $4.2 million for the six months ended June 26, 2016 and June 28, 2015, respectively. The estimated amortization expense for intangible assets for each of the five succeeding fiscal years is as follows: Estimated Amortization Expense: (In millions) Remaining Fiscal 2016 $ 4.2 Fiscal 2017 5.5 Fiscal 2018 4.1 Fiscal 2019 3.6 Fiscal 2020 3.1

Indebtedness

Indebtedness	6 Months Ended
	Jun. 26, 2016
Indebtedness	Note 7 – Indebtedness Our indebtedness consists of the following: As of June 26, 2016 December 27, 2015 (In millions) Revolving credit facility borrowings $ 200.0 $ 200.0 Less debt issuance costs (1.2 ) (1.7 ) Other debt 0.1 0.1 Total long-term debt $ 198.9 $ 198.4 Revolving Credit Facility On September 26, 2014, we entered into our current $400.0 million, five-year senior secured revolving credit facility. Please refer to Note 8. Indebtedness After adjusting for outstanding letters of credit, we have $199.3 million available under the credit facility as of June 26, 2016. We have additional outstanding letters of credit of $0.4 million that do not fall under the credit facility as of June 26, 2016. We also have $3.7 million of undrawn credit facilities at certain of our foreign subsidiaries as of June 26, 2016. These outstanding amounts do not impact available borrowings under the credit facility.

Contingencies

Contingencies	6 Months Ended
	Jun. 26, 2016
Contingencies	Note 8 – Contingencies Litigation From time to time, the company is involved in legal proceedings in the ordinary course of business. We analyze potential outcomes from current and potential litigation as loss contingencies in accordance with U.S. GAAP. Since most potential claims against the company may involve the enforcement of complex intellectual property rights or complicated damages calculations, we generally cannot predict the eventual outcome of pending matters, the timing of the ultimate resolution of these matters, or the magnitude of the eventual loss related to each pending matter. For a limited number of matters disclosed in this note for which a loss, whether in excess of a related accrued liability or where there is no accrued liability, is reasonably possible in future periods, we estimate a range of possible loss. In determining whether it is possible to estimate a range of possible loss, we review and evaluate our material litigation on an ongoing basis in light of potentially relevant factual and legal developments. These may include information learned through the discovery process, legal analysis and opinions of counsel, rulings on motions, settlement discussions, and other rulings by courts, arbitrators or others. If we possess sufficient information to develop an estimate of loss or range of possible loss, that estimate is disclosed either individually or in the aggregate. Finally, for loss contingencies for which we believe the possibility of loss is remote, we do not record a reserve or assess the range of possible losses. Based on current knowledge, management does not believe that loss contingencies arising from pending matters will have a material adverse effect on our business, financial condition, results of operations or cash flows. However, in light of the inherent uncertainties involved in these matters, some of which are beyond our control, an adverse outcome in one or more of these matters could be material to our results of operations or cash flows for any particular reporting period. Patent Litigation with Power Integrations, Inc. There are five outstanding proceedings with Power Integrations. POWI 1 The trial in the case was divided into three phases. In the first phase of the trial that occurred in October of 2006, a jury returned a verdict finding that thirty-three of the company’s PWM products willfully infringed one or more of seven claims asserted in the four patents and assessed damages against the company. The company voluntarily stopped U.S. sales and importation of those products in 2007 and has been offering replacement products since 2006. Subsequent phases of the trial conducted during 2007 and 2008 focused on the validity and enforceability of the patents. In December of 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 of 2009, the court found the company’s infringement to have been willful, and in January 2011 the court awarded Power Integrations final damages in the amount of $12.2 million. The company 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 almost the entire damages award, ruling that there was no basis upon which a reasonable jury could find the company liable for induced infringement. The court also vacated the earlier judgment of willful patent infringement by the company. The full court of appeals and the Supreme Court of the United States have since denied Power Integrations’ requests to review the appeals court ruling. Although the appeals court instructed the lower court to conduct further proceedings to determine damages based upon approximately $500,000 to $750,000 worth of sales and imports of affected products, the company believes that damages on the basis of that level of infringing activity would not be material. Accordingly, the company released $12.6 million from its reserves relating to this case during the first quarter of 2013. POWI 2 In October 2008, Fairchild Semiconductor Corporation and System General Corporation filed a patent infringement lawsuit against Power Integrations in the U.S. District Court for the District of Delaware, alleging that certain PWM integrated circuit products infringe one or more claims of two U.S. patents owned by System General. The lawsuit seeks monetary damages and an injunction preventing the manufacture, use, sale, offer for sale or importation of Power Integrations products found to infringe the asserted patents. Both lawsuits were consolidated and heard together in a jury trial in April of 2012. The jury found that Power Integrations infringed one of the two U.S. patents owned by System General and upheld the validity of both System General patents. In the same verdict, the jury found that the company infringed two of four U.S. patents asserted by Power Integrations and that the company had induced its customers to infringe the asserted patents. (The court later ruled that the company infringed one other asserted Power Integrations patent that the jury found was not infringed.) The jury also upheld the validity of the asserted Power Integrations patents. The verdict concluded the first phase of trial in this case. 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 Power Integrations patents in the case as well as certain products that were similar to the products found to infringe. Willfulness and damages in the case will be determined in a second phase, which has yet to be scheduled and will occur after appeals of the first phase. The company and Power Integrations have filed appeals from the first phase. These appeals were argued before the U.S. Court of Appeals for the Federal Circuit on July 8, 2016. A ruling on the appeals is expected in the next several months. POWI 3 In addition to the ruling on willfulness, the company continued to challenge several other aspects of the verdict during post-trial review. Specifically, the company asserted that the damages award included legal and evidentiary defects that were inconsistent with rulings by the U.S. Court of Appeals for the Federal Circuit. On November 25, 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. The court later denied Power Integrations’ 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 Power Integrations can request an injunction after the second trial on damages. The second damages trial was held in December 2015. On December 17, 2015, a jury returned a verdict awarding Power Integrations $139.8 million in damages. The company has 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. If the current damages award is not vacated or significantly reduced in post-trial proceedings, the company plans to appeal the current damages award. The company also plans to appeal the 2014 verdict finding that the asserted Power Integrations’ patents were infringed and valid. POWI 4 POWI 5: Other Legal Claims From time to time we are involved in legal proceedings in the ordinary course of business. We believe we have valid defenses with respect to matters currently pending against us and we intend to vigorously defend against those claims. For example, in December 2013, a customer of one of our distributors filed suit against us claiming damages of $30.0 million arising out of the purchase of $20,000 of our products. We are contesting that claim vigorously. We believe there is no such ordinary-course pending litigation that could have, individually or in the aggregate, a material adverse effect on our business, financial condition, results of operations, or cash flows. For matters where an estimate of the range of possible loss is reasonably possible, management currently estimates the aggregate range of reasonably possible loss, in excess of amounts accrued for outstanding matters, is $1.2 million to $18.4 million. The estimated range of reasonably possible loss is based upon currently available information and is subject to significant judgment and a variety of assumptions, and known and unknown uncertainties. The matters underlying the estimated range will change from time to time, and actual results may vary significantly from the current estimate. Those matters for which an estimate is not possible are not included within this estimated range. Therefore, this estimated range of possible loss represents what we believe to be an estimate of possible loss only for certain matters meeting these criteria. It does not represent our maximum exposure.

Restructuring, Impairments and

Restructuring, Impairments and Other Costs	6 Months Ended
	Jun. 26, 2016
Restructuring, Impairments and Other Costs	Note 9 – Restructuring, Impairments and Other Costs During the three months ended June 26, 2016 and June 28, 2015, we recorded restructuring, impairment and other costs, net of releases and gains of $0.6 million and $4.2 million, respectively. During the six months ended June 26, 2016 and June 28, 2015, we recorded restructuring, impairment and other costs, net of releases and gains of $(10.3) million and $8.9 million, respectively. The detail of the charges for the three and six months ended June 26, 2016 is presented in the summary table below. 2015 Operating Expense Reduction Program In the third quarter of 2015, we announced a program to reduce operating expenses by approximately $30.0 million to $34.0 million annually. This is a structural change to the operating expense level of the company and the anticipated savings contain no temporary measures. We recorded $12.9 million of employee separation expense in 2015, which represents the full cost of this program. This program is substantially complete as of June 26, 2016. Prior Year Infrastructure Realignment Programs The 2014 Infrastructure Realignment Program consists of product line and sales organizational changes, costs associated with streamlining operations creating greater manufacturing flexibility and having a more balanced internal versus external production mix, and other related costs mainly associated with product qualification activities. In 2014, we announced our 2014 Manufacturing Footprint Consolidation Plan. We eliminated our internal 5-inch and significantly reduced 6-inch wafer fabrication lines and rationalized our assembly and test capacity, resulting in the closure of our manufacturing and assembly facilities in West Jordan, Utah and Penang, Malaysia, as well as the remaining 5-inch wafer fabrication lines in Bucheon, South Korea. We ended production at these sites during the third quarter of fiscal year 2015. In the first quarter of 2016, we sold the facility in Penang, Malaysia for a gain of $12.3 million, which is reflected in the table below within the asset disposal (gain) loss caption. In addition to the amounts recorded in the summary below, we expect to incur an additional $1 million in site closure costs to complete this program in fiscal year 2016. Accrual Restructuring Other Reserve Release Cash (Paid) Net Book Accrual (In millions) 2014 Infrastructure Realignment Program: Employee separation costs $ 3.3 $ — $ — $ (0.1 ) $ (2.2 ) $ — $ 1.0 Asset disposal (gain) loss — (12.5 ) — — 15.4 (2.9 ) — Factory closure costs 1.2 0.9 — — (2.1 ) — — Qualification costs — — 1.0 — (1.0 ) — — 2015 Operating Expense Reduction Program: Employee separation costs 3.0 0.1 — (0.3 ) (2.1 ) — 0.7 $ 7.5 $ (11.5 ) $ 1.0 $ (0.4 ) $ 8.0 $ (2.9 ) $ 1.7 Accrual Restructuring Other Reserve Release Cash (Paid) Net Book Accrual (In millions) 2014 Infrastructure Realignment Program: Employee separation costs $ 1.0 $ — $ — $ — $ (0.5 ) $ — $ 0.5 Asset disposal (gain) loss — (0.2 ) — — 0.5 (0.3 ) — Factory closure costs — 0.4 — — (0.4 ) — — Qualification costs — — 0.5 — (0.5 ) — — 2015 Operating Expense Reduction Program: Employee separation costs 0.7 — — (0.1 ) (0.3 ) — 0.3 $ 1.7 $ 0.2 $ 0.5 $ (0.1 ) $ (1.2 ) $ (0.3 ) $ 0.8

Net Income (Loss) Per Share

Net Income (Loss) Per Share	6 Months Ended
	Jun. 26, 2016
Net Income (Loss) Per Share	Note 10 – Net Income (Loss) Per Share Basic and diluted net income (loss) per share are calculated as follows: Three Months Ended Six Months Ended June 26, 2016 June 28, 2015 June 26, 2016 June 28, 2015 (In millions, except per share data) Net income (loss) $ 6.9 $ (0.9 ) $ 21.7 $ 0.2 Weighted average number of common shares outstanding - basic 114.7 116.1 114.3 116.7 Effect of dilutive securities: Stock options and restricted stock units 1.7 — 2.2 2.5 Weighted average number of common shares outstanding - diluted 116.4 116.1 116.5 119.2 Basic net income (loss) per share $ 0.06 $ (0.01 ) $ 0.19 $ — Diluted net income (loss) per share $ 0.06 $ (0.01 ) $ 0.19 $ — Anti-dilutive common stock equivalents — 2.3 — 0.2

Segments and Geographic Informa

Segments and Geographic Information	6 Months Ended
	Jun. 26, 2016
Segments and Geographic Information	Note 11 – Segments and Geographic Information The Switching Power Solutions segment (SPS) contains our low and high voltage switch operating segments, integrated power modules, as well as our automotive and cloud operating segments. This segment provides a wide range of highly efficient discrete and integrated power management solutions across a broad range of end markets. The Analog Power and Signal Solutions segment (APSS) contains our mobile solutions, power conversion and motion tracking operating segments. This segment focuses on developing innovative analog solutions including power management, sensor and signal path applications. The Standard Products Group (SPG) includes a broad portfolio of standard discrete, analog, logic and optoelectronic products. In addition to the operating segments mentioned above, we also operate global operations, sales and marketing, information systems, finance and administration groups that are led by senior vice presidents who report to the Chief Executive Officer. Also, only direct SG&A and R&D spending by the segments is included in the calculation of their operating income. All other corporate level SG&A and R&D spending is included in the corporate category. We do not allocate income taxes or interest expense to our operating segments as the operating segments are principally evaluated on operating profit before interest and taxes. We do not specifically identify and allocate all assets by operating segment. It is our policy to fully allocate amortization to our operating segments. Operating segments do not sell products to each other, and accordingly, there are no inter-segment revenues to be reported. The accounting policies for segment reporting are the same as for the company as a whole. The following table presents selected statement of operations information on reportable segments for the three and six months ended June 26, 2016 and June 28, 2015. Three Months Ended Six Months Ended June 26, 2016 June 28, 2015 June 26, 2016 June 28, 2015 (In millions) Revenue and operating income: SPS Total revenue $ 211.8 $ 210.3 $ 417.5 $ 421.5 Operating income 41.4 50.6 83.1 93.4 APSS Total revenue 91.3 96.6 167.7 192.9 Operating income 9.6 11.4 17.7 22.9 SPG Total revenue 46.9 48.3 91.8 96.5 Operating income 10.0 9.4 19.9 20.6 Corporate Restructuring, impairments, and other costs (0.6 ) (4.2 ) 10.3 (8.9 ) Charge for litigation (0.5 ) — (0.5 ) — Accelerated depreciation on assets related to factory closures — (3.5 ) — (8.0 ) Inventory write-offs associated with factory closures — (4.6 ) — (4.6 ) Selling, general and administrative expense (39.7 ) (51.4 ) (80.5 ) (98.0 ) Acquisition-related costs (5.9 ) — (11.4 ) — Corporate research and development expense (3.5 ) (4.3 ) (7.4 ) (7.8 ) Total consolidated Total revenue $ 350.0 $ 355.2 $ 677.0 $ 710.9 Operating income $ 10.8 $ 3.4 $ 31.2 $ 9.6 Other expense, net $ 1.2 $ 1.6 $ 2.8 $ 2.8 Income before income taxes $ 9.6 $ 1.8 $ 28.4 $ 6.8

Recent Accounting Standards

Recent Accounting Standards	6 Months Ended
	Jun. 26, 2016
Recent Accounting Standards	Note 12 – Recent Accounting Standards Recently adopted In April 2015, the FASB issued Accounting Standards Update No. 2015-05, (ASU 2015-05) Intangibles – Goodwill and Other – Internal-Use Softwar Recently issued In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers In July 2015, the FASB issued ASU No. 2015-11, Inventory Simplifying the Measurement of Inventory In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU No. 2016-02, Leases In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation : Improvements to Employee Share-Based Payment Accounting. (a) (b) (c) In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 26, 2016
Subsequent Events	Note 13 – Subsequent Events We have evaluated subsequent events and did not identify any events that required disclosure as of August 10, 2016.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 26, 2016
Schedule of Fair Value of Assets and Liabilities	The tables below present information about our assets and liabilities that are regularly measured and carried at fair value and indicate the level within the fair value hierarchy of the valuation techniques we utilized to determine such fair value: As of June 26, 2016 Total Quoted Prices in Active Markets (Level 1) Significant Other Observable (Level 2) Significant Unobservable (Level 3) (In millions) Derivative contract assets $ 0.2 $ — $ 0.2 $ — Derivative contract liabilities (0.4 ) — (0.4 ) — Total derivative contracts $ (0.2 ) $ — $ (0.2 ) $ — Marketable securities $ 2.1 $ 2.1 $ — $ — As of December 27, 2015 Total Quoted Prices in Active Markets (Level 1) Significant Other Observable (Level 2) Significant Unobservable (Level 3) (In millions) Derivative contract assets $ 1.0 $ — $ 1.0 $ — Derivative contract liabilities (4.4 ) — (4.4 ) — Total derivative contracts $ (3.4 ) $ — $ (3.4 ) $ — Marketable securities $ 2.2 $ 2.2 $ — $ —
Schedule of Fair Value of Long-Term Debt	As of June 26, 2016 As of December 27, 2015 Carrying Amount Estimated Fair Value Carrying Amount Estimated (In millions) Revolving credit facility borrowings $ 200.0 $ 200.0 $ 200.0 $ 200.0

Marketable Securities (Tables)

Marketable Securities (Tables)	6 Months Ended
	Jun. 26, 2016
Summary of Securities	Our marketable securities are categorized as available-for-sale and are summarized as follows: As of June 26, 2016 Amortized Cost Gross Gains Gross Fair Value (In millions) U.S. Treasury securities and obligations of U.S. government agencies $ 0.1 $ — $ — $ 0.1 Total short-term marketable securities $ 0.1 $ — $ — $ 0.1 U.S. Treasury securities and obligations of U.S. government agencies $ 1.7 $ 0.2 $ — $ 1.9 Corporate debt securities 0.1 — — 0.1 Total long-term marketable securities $ 1.8 $ 0.2 $ — $ 2.0 As of December 27, 2015 Amortized Cost Gross Unrealized Gross Unrealized Fair Value (In millions) U.S. Treasury securities and obligations of U.S. government agencies $ 0.2 $ — $ — $ 0.2 Total short-term marketable securities $ 0.2 $ — $ — $ 0.2 U.S. Treasury securities and obligations of U.S. government agencies $ 1.7 $ 0.2 $ — $ 1.9 Corporate debt securities 0.1 — — 0.1 Total long-term marketable securities $ 1.8 $ 0.2 $ — $ 2.0
Schedule of Available-for-Sale Securities by Contractual Maturity	The amortized cost and estimated fair value of our marketable securities available-for-sale by contractual maturity are summarized as follows: As of June 26, 2016 Amortized Cost Fair Value (In millions) Due in one year or less $ 0.1 $ 0.1 Due after one year through five years 0.7 0.8 Due after five years through ten years 0.9 1.0 Due after ten years 0.2 0.2 $ 1.9 $ 2.1

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 26, 2016
Schedule of Derivatives Designated as Hedging Instruments	The following tables present derivatives designated as hedging instruments: As of June 26, 2016 As of December 27, 2015 Balance Sheet Notional Fair Amount of Gain (Loss) Balance Sheet Notional Fair Amount of Gain (Loss) (In millions) (In millions) Derivatives Designated as Hedging Instruments Derivatives for forecasted revenues Other current assets $ 10.0 $ 0.1 $ 0.1 Other current assets $ 30.8 $ 0.7 $ 0.7 Derivatives for forecasted revenues Other current liabilities 1.1 (0.2 ) (0.2 ) Other current liabilities 7.6 (0.1 ) (0.1 ) Derivatives for forecasted expenses Other current assets 40.9 0.1 0.1 Other current assets 29.1 0.3 0.3 Derivatives for forecasted expenses Other current liabilities 10.4 (0.2 ) (0.2 ) Other current liabilities 121.0 (4.3 ) (4.3 ) Total foreign exchange contract derivatives $ 62.4 $ (0.2 ) $ (0.2 ) $ 188.5 $ (3.4 ) $ (3.4 )
Schedule of Derivatives Designated as Hedging Instruments - Income Statement	For the Six Months For the Six Months Amount of Amount of Amount of Amount of (In millions) (In millions) Derivatives Designated as Hedging Instruments Total revenue $ (0.2 ) $ (0.2 ) $ 4.1 $ 4.1 Expenses (3.5 ) (3.5 ) (3.5 ) (3.5 ) Net gain (loss) recognized in income $ (3.7 ) $ (3.7 ) $ 0.6 $ 0.6
Schedule of Gain (Loss) Recognized in OCI for Derivative Instruments	Gain (Loss) For the Six Months (In millions) Foreign exchange contracts $ 3.3 (1) This amount is inclusive of both realized and unrealized gains and losses recognized in OCI.
Schedule of Derivatives Not Designated as Hedging Instruments	The following tables present derivatives not designated as hedging instruments. As of June 26, 2016 As of December 27, 2015 Notional Fair Notional Fair (In millions) (In millions) Derivatives Not Designated as Hedging Instruments Other current assets $ — $ — $ 14.7 $ — Other current liabilities — — 5.4 — Total derivatives, net $ — $ — $ 20.1 $ — For the Six Months Ended June 26, 2016 June 28, 2015 Amount of Amount of Recognized (In millions) (In millions) Derivatives Not Designated as Hedging Instruments Total revenue $ — $ 0.1 Expenses — (0.7 ) Other expense, net (0.6 ) — Net loss recognized in income $ (0.6 ) $ (0.6 )
Gross amounts of Fair Value of All Derivative Financial Instruments with Counterparties for Which Master Netting Arrangement is Utilized	The gross amounts of the derivative assets and liabilities are as follows: As of June 26, December 27, (In millions) Gross Assets $ 0.4 $ 1.0 Gross Liabilities (0.2 ) — Current Assets $ 0.2 $ 1.0 Gross Assets $ — $ — Gross Liabilities (0.4 ) (4.4 ) Current Liabilities $ (0.4 ) $ (4.4 )

Financial Statement Details (Ta

Financial Statement Details (Tables)	6 Months Ended
	Jun. 26, 2016
Schedule of Inventories, Net	As of June 26, December 27, (In millions) Inventories, net Raw materials $ 37.9 $ 40.4 Work in process 140.7 157.6 Finished goods 94.6 106.2 Total inventories, net $ 273.2 $ 304.2
Schedule of Property Plant and Equipment	As of June 26, December 27, (In millions) Property, plant and equipment Land and improvements $ 17.0 $ 17.7 Buildings and improvements 289.5 284.6 Machinery and equipment 1,626.5 1,667.4 Construction in progress 19.2 52.1 Total property, plant and equipment 1,952.2 2,021.8 Less accumulated depreciation 1,426.7 1,471.4 Total property, plant, and equipment, net $ 525.5 $ 550.4
Schedule of Accrued Expenses and Other Current Liabilities	As of June 26, December 27, (In millions) Accrued expenses and other current liabilities Payroll and employee related accruals $ 55.7 $ 60.9 Accrued interest 0.5 0.4 Taxes payable 13.0 12.1 Restructuring 0.8 7.5 Other 23.1 34.7 Total accrued expenses and other current liabilities $ 93.1 $ 115.6
Schedule of Other Expense, Net	Three Months Ended Six Months Ended June 26, June 28, June 26, June 28, (In millions) Other expense, net Interest expense $ 1.3 $ 1.5 $ 2.8 $ 2.8 Interest income (0.2 ) (0.1 ) (0.4 ) (0.3 ) Other, net 0.1 0.2 0.4 0.3 Other expense, net $ 1.2 $ 1.6 $ 2.8 $ 2.8

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 26, 2016
Schedule of Carrying Value of Goodwill by Reportable Segment	The following table presents the carrying amount of goodwill by reportable segment: SPS APSS SPG Total (In millions) Balance at June 26, 2016 Goodwill $ 219.6 $ 112.5 $ 77.7 $ 409.8 Accumulated impairment losses (114.5 ) (12.8 ) (76.6 ) (203.9 ) $ 105.1 $ 99.7 $ 1.1 $ 205.9 Foreign exchange impact $ — $ 1.4 $ — $ 1.4 Balance at December 27, 2015 Goodwill $ 219.6 $ 111.1 $ 77.7 $ 408.4 Accumulated impairment losses (114.5 ) (12.8 ) (76.6 ) (203.9 ) $ 105.1 $ 98.3 $ 1.1 $ 204.5
Summary of Acquired Intangible Assets	The following table presents a summary of acquired intangible assets: As of June 26, 2016 As of December 27, 2015 Period of Gross Carrying Accumulated Gross Carrying Accumulated (In millions) Developed technology 8-10 years $ 260.6 $ (249.7 ) $ 260.1 $ (248.1 ) Customer base 6-10 years 85.8 (82.6 ) 85.7 (80.9 ) Core technology 10-15 years 15.7 (8.0 ) 15.7 (7.4 ) In-process R&D 3-10 years 3.3 (1.4 ) 3.3 (1.2 ) Trademarks and trade names 5 years 0.5 (0.2 ) 0.5 (0.2 ) Total identifiable intangible assets $ 365.9 $ (341.9 ) $ 365.3 $ (337.8 )
Schedule of Estimated Amortization Expense for Intangible Assets	The estimated amortization expense for intangible assets for each of the five succeeding fiscal years is as follows: Estimated Amortization Expense: (In millions) Remaining Fiscal 2016 $ 4.2 Fiscal 2017 5.5 Fiscal 2018 4.1 Fiscal 2019 3.6 Fiscal 2020 3.1

Indebtedness (Tables)

Indebtedness (Tables)	6 Months Ended
	Jun. 26, 2016
Indebtedness	Our indebtedness consists of the following: As of June 26, 2016 December 27, 2015 (In millions) Revolving credit facility borrowings $ 200.0 $ 200.0 Less debt issuance costs (1.2 ) (1.7 ) Other debt 0.1 0.1 Total long-term debt $ 198.9 $ 198.4

Restructuring, Impairments an27

Restructuring, Impairments and Other Costs (Tables)	6 Months Ended
	Jun. 26, 2016
Summary of Restructuring and Impairment Costs	Accrual Restructuring Other Reserve Release Cash (Paid) Net Book Accrual (In millions) 2014 Infrastructure Realignment Program: Employee separation costs $ 3.3 $ — $ — $ (0.1 ) $ (2.2 ) $ — $ 1.0 Asset disposal (gain) loss — (12.5 ) — — 15.4 (2.9 ) — Factory closure costs 1.2 0.9 — — (2.1 ) — — Qualification costs — — 1.0 — (1.0 ) — — 2015 Operating Expense Reduction Program: Employee separation costs 3.0 0.1 — (0.3 ) (2.1 ) — 0.7 $ 7.5 $ (11.5 ) $ 1.0 $ (0.4 ) $ 8.0 $ (2.9 ) $ 1.7 Accrual Restructuring Other Reserve Release Cash (Paid) Net Book Accrual (In millions) 2014 Infrastructure Realignment Program: Employee separation costs $ 1.0 $ — $ — $ — $ (0.5 ) $ — $ 0.5 Asset disposal (gain) loss — (0.2 ) — — 0.5 (0.3 ) — Factory closure costs — 0.4 — — (0.4 ) — — Qualification costs — — 0.5 — (0.5 ) — — 2015 Operating Expense Reduction Program: Employee separation costs 0.7 — — (0.1 ) (0.3 ) — 0.3 $ 1.7 $ 0.2 $ 0.5 $ (0.1 ) $ (1.2 ) $ (0.3 ) $ 0.8

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jun. 26, 2016
Basic and Diluted Net Income (Loss) per share	Basic and diluted net income (loss) per share are calculated as follows: Three Months Ended Six Months Ended June 26, 2016 June 28, 2015 June 26, 2016 June 28, 2015 (In millions, except per share data) Net income (loss) $ 6.9 $ (0.9 ) $ 21.7 $ 0.2 Weighted average number of common shares outstanding - basic 114.7 116.1 114.3 116.7 Effect of dilutive securities: Stock options and restricted stock units 1.7 — 2.2 2.5 Weighted average number of common shares outstanding - diluted 116.4 116.1 116.5 119.2 Basic net income (loss) per share $ 0.06 $ (0.01 ) $ 0.19 $ — Diluted net income (loss) per share $ 0.06 $ (0.01 ) $ 0.19 $ — Anti-dilutive common stock equivalents — 2.3 — 0.2

Segments and Geographic Infor29

Segments and Geographic Information (Tables)	6 Months Ended
	Jun. 26, 2016
Schedule of Selected Operating Segment Financial Information	The following table presents selected statement of operations information on reportable segments for the three and six months ended June 26, 2016 and June 28, 2015. Three Months Ended Six Months Ended June 26, 2016 June 28, 2015 June 26, 2016 June 28, 2015 (In millions) Revenue and operating income: SPS Total revenue $ 211.8 $ 210.3 $ 417.5 $ 421.5 Operating income 41.4 50.6 83.1 93.4 APSS Total revenue 91.3 96.6 167.7 192.9 Operating income 9.6 11.4 17.7 22.9 SPG Total revenue 46.9 48.3 91.8 96.5 Operating income 10.0 9.4 19.9 20.6 Corporate Restructuring, impairments, and other costs (0.6 ) (4.2 ) 10.3 (8.9 ) Charge for litigation (0.5 ) — (0.5 ) — Accelerated depreciation on assets related to factory closures — (3.5 ) — (8.0 ) Inventory write-offs associated with factory closures — (4.6 ) — (4.6 ) Selling, general and administrative expense (39.7 ) (51.4 ) (80.5 ) (98.0 ) Acquisition-related costs (5.9 ) — (11.4 ) — Corporate research and development expense (3.5 ) (4.3 ) (7.4 ) (7.8 ) Total consolidated Total revenue $ 350.0 $ 355.2 $ 677.0 $ 710.9 Operating income $ 10.8 $ 3.4 $ 31.2 $ 9.6 Other expense, net $ 1.2 $ 1.6 $ 2.8 $ 2.8 Income before income taxes $ 9.6 $ 1.8 $ 28.4 $ 6.8

Background and Basis of Present

Background and Basis of Presentation - Additional Information (Detail) - Merger Agreement with ON Semiconductor Corporation - USD ($) $ / shares in Units, $ in Billions	Dec. 04, 2015	Nov. 18, 2015
Background And Basis Of Presentation [Line Items]
Total transaction cost of acquisition		$ 2.4
Common stock price per share	$ 20

Schedule of Fair Value of Asset

Schedule of Fair Value of Assets and Liabilities (Detail) - USD ($) $ in Millions	Jun. 26, 2016	Dec. 27, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 2.1
Fair Value Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract assets	0.2	$ 1
Derivative contract liabilities	(0.4)	(4.4)
Total derivative contracts	(0.2)	(3.4)
Marketable securities	2.1	2.2
Fair Value Measurements, Recurring | Fair Value, Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	2.1	2.2
Fair Value Measurements, Recurring | Fair Value, Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract assets	0.2	1
Derivative contract liabilities	(0.4)	(4.4)
Total derivative contracts	$ (0.2)	$ (3.4)

Fair Value of Long Term Debt (D

Fair Value of Long Term Debt (Detail) - USD ($) $ in Millions	Jun. 26, 2016	Dec. 27, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value of Revolving credit facility borrowings	$ 200	$ 200
Carrying Amount of Revolving credit facility borrowings	$ 200	$ 200

Summary of Securities (Detail)

Summary of Securities (Detail) - USD ($) $ in Millions	Jun. 26, 2016	Dec. 27, 2015
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Fair Value	$ 2.1
Short-Term Available for Sale
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Amortized Cost	0.1	$ 0.2
Gross Unrealized Losses	0	0
Fair Value	0.1	0.2
Short-Term Available for Sale | U.S. Treasury Securities and Obligations of U.S. Government Agencies
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Amortized Cost	0.1	0.2
Gross Unrealized Losses	0	0
Fair Value	0.1	0.2
Long-Term Available for Sale
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Amortized Cost	1.8	1.8
Gross Unrealized Gains	0.2	0.2
Gross Unrealized Losses	0	0
Fair Value	2	2
Long-Term Available for Sale | U.S. Treasury Securities and Obligations of U.S. Government Agencies
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Amortized Cost	1.7	1.7
Gross Unrealized Gains	0.2	0.2
Gross Unrealized Losses	0	0
Fair Value	1.9	1.9
Long-Term Available for Sale | Corporate Debt Securities
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items]
Amortized Cost	0.1	0.1
Gross Unrealized Losses	0	0
Fair Value	$ 0.1	$ 0.1

Schedule of Available for Sale

Schedule of Available for Sale Securities by Contractual Maturity (Detail) $ in Millions	Jun. 26, 2016USD ($)
Investments Classified by Contractual Maturity Date [Line Items]
Due in one year or less, Amortized Cost	$ 0.1
Due after one year through five years, Amortized Cost	0.7
Due after five years through ten years	0.9
Due after ten years	0.2
Total available for sale securities, Amortized Cost	1.9
Due in one year or less, Fair Value	0.1
Due after one year through five years, Fair Value	0.8
Due after five years through ten years	1
Due after ten years	0.2
Total available for sale securities, Fair Value	$ 2.1

Derivatives - Additional Inform

Derivatives - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 26, 2016USD ($)
Derivative [Line Items]
Maturities of the cash flow hedges, in months	6 months
Net unrealized derivative loss included in AOCI that will be reclassified into earnings within the next nine months	$ 0.2

Schedule of Derivatives Designa

Schedule of Derivatives Designated as Hedging Instruments (Detail) - Designated as Hedging Instrument - USD ($) $ in Millions	6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Dec. 27, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Notional Amount	$ 62.4		$ 188.5
Fair Value	(0.2)		(3.4)
Amount of Gain (Loss) Recognized In AOCI	(0.2)		(3.4)
Amount of Gain (Loss) Recognized In Income	(3.7)	$ 0.6
Amount of Gain (Loss) Reclassified from AOCI	(3.7)	0.6
Total revenue
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized In Income	(0.2)	4.1
Amount of Gain (Loss) Reclassified from AOCI	(0.2)	4.1
Expenses
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized In Income	(3.5)	(3.5)
Amount of Gain (Loss) Reclassified from AOCI	(3.5)	$ (3.5)
Derivatives For Forecasted Revenues | Other Current Assets
Derivative Instruments, Gain (Loss) [Line Items]
Notional Amount	10		30.8
Fair Value	0.1		0.7
Amount of Gain (Loss) Recognized In AOCI	0.1		0.7
Derivatives For Forecasted Revenues | Other Current Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Notional Amount	1.1		7.6
Fair Value	(0.2)		(0.1)
Amount of Gain (Loss) Recognized In AOCI	(0.2)		(0.1)
Derivatives For Forecasted Expenses | Other Current Assets
Derivative Instruments, Gain (Loss) [Line Items]
Notional Amount	40.9		29.1
Fair Value	0.1		0.3
Amount of Gain (Loss) Recognized In AOCI	0.1		0.3
Derivatives For Forecasted Expenses | Other Current Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Notional Amount	10.4		121
Fair Value	(0.2)		(4.3)
Amount of Gain (Loss) Recognized In AOCI	$ (0.2)		$ (4.3)

Schedule of Gain Loss Recognize

Schedule of Gain Loss Recognized in OCI for Derivative Instruments (Detail) $ in Millions	6 Months Ended
	Jun. 26, 2016USD ($)
Foreign Exchange Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI for Derivative Instruments	$ 3.3	[1]
[1]	This amount is inclusive of both realized and unrealized gains and losses recognized in OCI.

Schedule of Derivatives not Des

Schedule of Derivatives not Designated as Hedging Instruments (Detail) - Not Designated as Hedging Instrument - USD ($) $ in Millions	6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Dec. 27, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Notional Amount			$ 20.1
Fair Value	$ 0		0
Amount of Gain (Loss) Recognized In Income	(0.6)	$ (0.6)
Total revenue
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized In Income		0.1
Expenses
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized In Income		$ (0.7)
Other Expense Net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized In Income	(0.6)
Other Current Assets
Derivative Instruments, Gain (Loss) [Line Items]
Notional Amount			14.7
Fair Value	0		0
Other Current Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Notional Amount			5.4
Fair Value	$ 0		$ 0

Gross amounts of Fair Value of

Gross amounts of Fair Value of All Derivative Financial Instruments with Counterparties for Which Master Netting Arrangement Utilized (Detail) - USD ($) $ in Millions	Jun. 26, 2016	Dec. 27, 2015
Derivative [Line Items]
Gross Assets	$ 0.4	$ 1
Gross Liabilities	(0.2)
Current Assets	0.2	1
Gross Assets	0	0
Gross Liabilities	(0.4)	(4.4)
Current Liabilities	$ (0.4)	$ (4.4)

Schedule of Inventories, Net (D

Schedule of Inventories, Net (Detail) - USD ($) $ in Millions	Jun. 26, 2016	Dec. 27, 2015
Inventory [Line Items]
Raw materials	$ 37.9	$ 40.4
Work in process	140.7	157.6
Finished goods	94.6	106.2
Total inventories, net	$ 273.2	$ 304.2

Schedule of Property Plant and

Schedule of Property Plant and Equipment (Detail) - USD ($) $ in Millions	Jun. 26, 2016	Dec. 27, 2015
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 1,952.2	$ 2,021.8
Less accumulated depreciation	1,426.7	1,471.4
Total property, plant, and equipment, net	525.5	550.4
Land and improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	17	17.7
Buildings and improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	289.5	284.6
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	1,626.5	1,667.4
Construction in progress
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 19.2	$ 52.1

Financial Statement Details - A

Financial Statement Details - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jun. 26, 2016	Dec. 27, 2015
Property, Plant and Equipment [Line Items]
Assets classified as held for sale reduction in carrying value	$ 2.9
Other Current Assets
Property, Plant and Equipment [Line Items]
Assets classified as held for sale	$ 12.5	$ 15.4

Schedule of Accrued Expenses an

Schedule of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Millions	Jun. 26, 2016	Dec. 27, 2015
Other Liabilities [Line Items]
Payroll and employee related accruals	$ 55.7	$ 60.9
Accrued interest	0.5	0.4
Taxes payable	13	12.1
Restructuring	0.8	7.5
Other	23.1	34.7
Total accrued expenses and other current liabilities	$ 93.1	$ 115.6

Schedule of Other Expense Net (

Schedule of Other Expense Net (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015
Components of Other Income (Expense) [Line Items]
Interest expense	$ 1.3	$ 1.5	$ 2.8	$ 2.8
Interest income	(0.2)	(0.1)	(0.4)	(0.3)
Other, net	0.1	0.2	0.4	0.3
Other expense, net	$ 1.2	$ 1.6	$ 2.8	$ 2.8

Goodwill and Intangible Asset45

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015	Dec. 27, 2015
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill, Net	$ 205.9		$ 205.9		$ 204.5
Foreign exchange impact			1.4		$ 1.4
Amortization expenses for intangible assets	$ 1.9	$ 2.1	$ 3.8	$ 4.2

Schedule of Carrying Value of G

Schedule of Carrying Value of Goodwill by Reportable Segment (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 26, 2016	Dec. 27, 2015
Goodwill [Line Items]
Goodwill	$ 409.8	$ 408.4
Accumulated impairment losses	(203.9)	(203.9)
Goodwill, Net	205.9	204.5
Foreign exchange impact	1.4	1.4
SPS
Goodwill [Line Items]
Goodwill	219.6	219.6
Accumulated impairment losses	(114.5)	(114.5)
Goodwill, Net	105.1	105.1
APSS
Goodwill [Line Items]
Goodwill	112.5	111.1
Accumulated impairment losses	(12.8)	(12.8)
Goodwill, Net	99.7	98.3
Foreign exchange impact	1.4
SPG
Goodwill [Line Items]
Goodwill	77.7	77.7
Accumulated impairment losses	(76.6)	(76.6)
Goodwill, Net	$ 1.1	$ 1.1

Summary of Acquired Intangible

Summary of Acquired Intangible Assets (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 26, 2016	Dec. 27, 2015
Finite-Lived Intangible Assets [Line Items]
Total identifiable intangible assets, Gross Carrying Amount	$ 365.9	$ 365.3
Total identifiable intangible assets, Accumulated Amortization	(341.9)	(337.8)
Developed Technology
Finite-Lived Intangible Assets [Line Items]
Total identifiable intangible assets, Gross Carrying Amount	260.6	260.1
Total identifiable intangible assets, Accumulated Amortization	$ (249.7)	(248.1)
Developed Technology | Minimum
Finite-Lived Intangible Assets [Line Items]
Total identifiable intangible assets, Period of Amortization	8 years
Developed Technology | Maximum
Finite-Lived Intangible Assets [Line Items]
Total identifiable intangible assets, Period of Amortization	10 years
Customer Base
Finite-Lived Intangible Assets [Line Items]
Total identifiable intangible assets, Gross Carrying Amount	$ 85.8	85.7
Total identifiable intangible assets, Accumulated Amortization	$ (82.6)	(80.9)
Customer Base | Minimum
Finite-Lived Intangible Assets [Line Items]
Total identifiable intangible assets, Period of Amortization	6 years
Customer Base | Maximum
Finite-Lived Intangible Assets [Line Items]
Total identifiable intangible assets, Period of Amortization	10 years
Core Technology
Finite-Lived Intangible Assets [Line Items]
Total identifiable intangible assets, Gross Carrying Amount	$ 15.7	15.7
Total identifiable intangible assets, Accumulated Amortization	$ (8)	(7.4)
Core Technology | Minimum
Finite-Lived Intangible Assets [Line Items]
Total identifiable intangible assets, Period of Amortization	10 years
Core Technology | Maximum
Finite-Lived Intangible Assets [Line Items]
Total identifiable intangible assets, Period of Amortization	15 years
In Process R&D
Finite-Lived Intangible Assets [Line Items]
Total identifiable intangible assets, Gross Carrying Amount	$ 3.3	3.3
Total identifiable intangible assets, Accumulated Amortization	$ (1.4)	(1.2)
In Process R&D | Minimum
Finite-Lived Intangible Assets [Line Items]
Total identifiable intangible assets, Period of Amortization	3 years
In Process R&D | Maximum
Finite-Lived Intangible Assets [Line Items]
Total identifiable intangible assets, Period of Amortization	10 years
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Total identifiable intangible assets, Period of Amortization	5 years
Total identifiable intangible assets, Gross Carrying Amount	$ 0.5	0.5
Total identifiable intangible assets, Accumulated Amortization	$ (0.2)	$ (0.2)

Schedule of Estimated Amortizat

Schedule of Estimated Amortization Expense for Intangible Assets (Detail) $ in Millions	Jun. 26, 2016USD ($)
Estimated Amortization Expense:
Remaining Fiscal 2016	$ 4.2
Fiscal 2,017	5.5
Fiscal 2,018	4.1
Fiscal 2,019	3.6
Fiscal 2,020	$ 3.1

Schedule of Indebtedness (Detai

Schedule of Indebtedness (Detail) - USD ($) $ in Millions	Jun. 26, 2016	Dec. 27, 2015
Debt Instrument [Line Items]
Revolving credit facility borrowings	$ 200	$ 200
Less debt issuance costs	(1.2)	(1.7)
Other debt	0.1	0.1
Total long-term debt	$ 198.9	$ 198.4

Indebtedness - Additional Infor

Indebtedness - Additional Information (Detail) - USD ($)	Sep. 26, 2014	Jun. 26, 2016
Foreign Subsidiary
Debt Instrument [Line Items]
Credit facility borrowing capacity amount		$ 3,700,000
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility borrowing capacity amount	$ 400,000,000
Revolving credit facility, expiration period	5 years
Credit Facility, remained available amount		199,300,000
Other Credit Facility
Debt Instrument [Line Items]
Letter of credit outstanding amount		$ 400,000

Contingencies - Additional Info

Contingencies - Additional Information (Detail)

Dec. 17, 2015USD ($)

Oct. 21, 2015Patent

Apr. 30, 2012Patent

Oct. 20, 2004Patent

Jun. 30, 2015USD ($)Patent

Mar. 31, 2013USD ($)

May 31, 2012Patent

Jan. 31, 2011USD ($)

Dec. 31, 2008USD ($)

Oct. 31, 2006USD ($)

Jun. 26, 2016USD ($)LegalMatter

Mar. 31, 2013USD ($)

Jun. 26, 2016USD ($)LegalMatterPatentClaim

Dec. 29, 2013USD ($)

Loss Contingencies [Line Items]

Damages awarded for infringement of the patents | $

$ 30,000,000

Charge for (release of) litigation | $

$ 500,000

$ 500,000

Product sales value | $

$ 20,000

POWI 1

Loss Contingencies [Line Items]

Number of patents in lawsuit

4

Damages awarded for infringement of the patents | $

$ 12,200,000

$ 6,100,000

$ 34,000,000

Charge for (release of) litigation | $

$ 12,600,000

POWI 2

Loss Contingencies [Line Items]

Number of patents in lawsuit

3

Number of claims in lawsuit | Claim

1

POWI 3

Loss Contingencies [Line Items]

Number of patents in lawsuit

3

Damages awarded for infringement of the patents | $

$ 105,000,000

Number of patents infringed

2

POWI 3 | Second Trial On Damages

Loss Contingencies [Line Items]

Damages awarded for infringement of the patents | $

$ 139,800,000

POWI 4

Loss Contingencies [Line Items]

Number of patents in lawsuit

3

Number of patents infringed

2

Number of patents not infringed

1

Loss contingency, damages awarded for infringement of the patents | $

$ 2,400,000

Damages paid for infringement of the patents | $

$ 100,000

Power Integrations

Loss Contingencies [Line Items]

Number of outstanding proceedings with power integrations | LegalMatter

5

5

Power Integrations | POWI 5

Loss Contingencies [Line Items]

Number of patents in lawsuit

2

Power Integrations | POWI 2

Loss Contingencies [Line Items]

Number of patents in lawsuit

4

Number of patents infringed

2

Power Integrations | POWI 4

Loss Contingencies [Line Items]

Number of patents in lawsuit

5

Number of patents not infringed

1

System General | POWI 2

Loss Contingencies [Line Items]

Number of patents in lawsuit

2

Number of patents infringed

1

Minimum

Loss Contingencies [Line Items]

Estimate of possible loss | $

$ 1,200,000

$ 1,200,000

Minimum | POWI 1

Loss Contingencies [Line Items]

Damages awarded for infringement of the patents | $

$ 500,000

Maximum

Loss Contingencies [Line Items]

Estimate of possible loss | $

$ 18,400,000

$ 18,400,000

Maximum | POWI 1

Loss Contingencies [Line Items]

Damages awarded for infringement of the patents | $

$ 750,000

Restructuring Impairments and O

Restructuring Impairments and Other Costs - Additional Information (Detail) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 26, 2016	Mar. 27, 2016	Sep. 27, 2015	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015	Dec. 25, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring, impairment and other costs, net of releases and gains	$ 600,000			$ 4,200,000	$ (10,300,000)	$ 8,900,000
Description of restructuring activity					We eliminated our internal 5-inch and significantly reduced 6-inch wafer fabrication lines and rationalized our assembly and test capacity, resulting in the closure of our manufacturing and assembly facilities in West Jordan, Utah and Penang, Malaysia, as well as the remaining 5-inch wafer fabrication lines in Bucheon, South Korea. We ended production at these sites during the third quarter of fiscal year 2015.
2015 Operating Expense Reduction Program
Restructuring Cost and Reserve [Line Items]
Restructuring And Related Activities Expected Completion Year			Jun. 26, 2016
2015 Operating Expense Reduction Program | Minimum
Restructuring Cost and Reserve [Line Items]
Reduction in operating expenses			$ (30,000,000)
2015 Operating Expense Reduction Program | Maximum
Restructuring Cost and Reserve [Line Items]
Reduction in operating expenses			(34,000,000)
2014 Infrastructure Realignment Program | Malaysia
Restructuring Cost and Reserve [Line Items]
Gain on disposal of asset		$ 12,300,000
Employee Separation Costs | 2015 Operating Expense Reduction Program
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 12,900,000
Factory Closure Costs | Scenario, Forecast
Restructuring Cost and Reserve [Line Items]
Expected additional costs							$ 1,000,000

Summary of Restructuring and Im

Summary of Restructuring and Impairment Costs (Detail) - USD ($) $ in Millions	3 Months Ended
	Jun. 26, 2016	Mar. 27, 2016
Restructuring Cost and Reserve [Line Items]
Accrual Balance, Beginning Balance	$ 1.7	$ 7.5
Restructuring Charges	0.2	(11.5)
Other Charges	0.5	1
Reserve Release	(0.1)	(0.4)
Cash (Paid) Received	(1.2)	8
Net Book Value Assets Disposed	(0.3)	(2.9)
Accrual Balance, Ending Balance	0.8	1.7
2014 Infrastructure Realignment Program | Employee Separation Costs
Restructuring Cost and Reserve [Line Items]
Accrual Balance, Beginning Balance	1	3.3
Reserve Release		(0.1)
Cash (Paid) Received	(0.5)	(2.2)
Accrual Balance, Ending Balance	0.5	1
2014 Infrastructure Realignment Program | Asset Impairments Costs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	(0.2)	(12.5)
Cash (Paid) Received	0.5	15.4
Net Book Value Assets Disposed	(0.3)	(2.9)
2014 Infrastructure Realignment Program | Factory Closure Costs
Restructuring Cost and Reserve [Line Items]
Accrual Balance, Beginning Balance		1.2
Restructuring Charges	0.4	0.9
Cash (Paid) Received	(0.4)	(2.1)
2014 Infrastructure Realignment Program | Qualification Costs
Restructuring Cost and Reserve [Line Items]
Other Charges	0.5	1
Cash (Paid) Received	(0.5)	(1)
2015 Operating Expense Reduction Program | Employee Separation Costs
Restructuring Cost and Reserve [Line Items]
Accrual Balance, Beginning Balance	0.7	3
Restructuring Charges		0.1
Reserve Release	(0.1)	(0.3)
Cash (Paid) Received	(0.3)	(2.1)
Accrual Balance, Ending Balance	$ 0.3	$ 0.7

Schedule of Computation of Basi

Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015
Earnings Per Share Disclosure [Line Items]
Net income (loss)	$ 6.9	$ (0.9)	$ 21.7	$ 0.2
Weighted average number of common shares outstanding - basic	114.7	116.1	114.3	116.7
Stock options and restricted stock units	1.7		2.2	2.5
Weighted average number of common shares outstanding - diluted	116.4	116.1	116.5	119.2
Basic net income (loss) per share	$ 0.06	$ (0.01)	$ 0.19
Diluted net income (loss) per share	$ 0.06	$ (0.01)	$ 0.19
Anti-dilutive common stock equivalents		2.3		0.2

Schedule of Selected Operating

Schedule of Selected Operating Segment Financial Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 26, 2016	Jun. 28, 2015	Jun. 26, 2016	Jun. 28, 2015
Segment Reporting Information [Line Items]
Restructuring, impairments, and other costs	$ (0.6)	$ (4.2)	$ 10.3	$ (8.9)
Charge for litigation	(0.5)		(0.5)
Selling, general and administrative expense	(47.7)	(57.8)	(96.3)	(110.5)
Corporate research and development expense	(41.6)	(42.3)	(81.7)	(84)
Revenue	350	355.2	677	710.9
Operating income	10.8	3.4	31.2	9.6
Other expense, net	1.2	1.6	2.8	2.8
Income before income taxes	9.6	1.8	28.4	6.8
Corporate
Segment Reporting Information [Line Items]
Restructuring, impairments, and other costs	(0.6)	(4.2)	10.3	(8.9)
Charge for litigation	(0.5)		(0.5)
Accelerated depreciation on assets related to factory closures		(3.5)		(8)
Inventory write-offs associated with factory closures		(4.6)		(4.6)
Selling, general and administrative expense	(39.7)	(51.4)	(80.5)	(98)
Acquisition-related costs	(5.9)		(11.4)
Corporate research and development expense	(3.5)	(4.3)	(7.4)	(7.8)
SPS | Operating Segments
Segment Reporting Information [Line Items]
Revenue	211.8	210.3	417.5	421.5
Operating income	41.4	50.6	83.1	93.4
APSS | Operating Segments
Segment Reporting Information [Line Items]
Revenue	91.3	96.6	167.7	192.9
Operating income	9.6	11.4	17.7	22.9
SPG | Operating Segments
Segment Reporting Information [Line Items]
Revenue	46.9	48.3	91.8	96.5
Operating income	$ 10	$ 9.4	$ 19.9	$ 20.6