Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 18, 2014 | Jun. 28, 2013 | |
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-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 440,421,919 | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Public Float | ' | ' | $3,590,800,724 |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Consolidated_Balance_Sheet
Consolidated Balance Sheet (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | |
In Millions, unless otherwise specified | |||
Assets | ' | ' | |
Cash and cash equivalents | $509.50 | $486.90 | |
Short-term investments | 116.2 | 144.8 | |
Receivables, net | 383.4 | 357.8 | |
Inventories | 611.8 | 581.7 | |
Other current assets | 89.3 | 122.2 | |
Total current assets | 1,710.20 | 1,693.40 | |
Property, plant and equipment, net | 1,074.20 | [1] | 1,103.30 |
Goodwill | 184.6 | 184.6 | |
Intangible assets, net | 223.4 | 257 | |
Other assets | 64.6 | 90.1 | |
Total assets | 3,257 | 3,328.40 | |
Liabilities, Non-Controlling Interest and Stockholders’ Equity | ' | ' | |
Accounts payable | 276.8 | 279.5 | |
Accrued expenses | 220.3 | 256.7 | |
Deferred income on sales to distributors | 140.5 | 134.5 | |
Current portion of long-term debt (see Note 8) | 181.6 | 353.6 | |
Total current liabilities | 819.2 | 1,024.30 | |
Long-term debt (see Note 8) | 760.6 | 658.3 | |
Other long-term liabilities | 190.4 | 255.1 | |
Total liabilities | 1,770.20 | 1,937.70 | |
Commitments and contingencies (See Note 12) | ' | ' | |
ON Semiconductor Corporation stockholders’ equity: | ' | ' | |
Common stock ($0.01 par value, 750,000,000 shares authorized, 515,888,942 and 509,977,999 shares issued, 440,250,288 and 448,824,345 shares outstanding, respectively) | 5.2 | 5.1 | |
Additional paid-in capital | 3,210.80 | 3,156.40 | |
Accumulated other comprehensive loss | -47.4 | -41.1 | |
Accumulated deficit | -1,142.10 | -1,292.90 | |
Less: treasury stock, at cost; 75,638,654 and 61,153,654 shares, respectively | -572.5 | -466.4 | |
Total ON Semiconductor Corporation stockholders’ equity | 1,454 | 1,361.10 | |
Non-controlling interest in consolidated subsidiary | 32.8 | 29.6 | |
Total stockholders' equity | 1,486.80 | 1,390.70 | |
Total liabilities and equity | $3,257 | $3,328.40 | |
[1] | Included in property, plant and equipment are $8.7 million of fixed assets that are held-for-sale as of December 31, 2013. |
Consolidated_Balance_Sheet_Par
Consolidated Balance Sheet (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Stockholders' Equity: | ' | ' |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 750,000,000 | 750,000,000 |
Common stock, shares issued | 515,888,942 | 509,977,999 |
Common stock, shares outstanding | 440,250,288 | 448,824,345 |
Treasury stock, shares | 75,638,654 | 61,153,654 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations And Comprehensive Income (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement [Abstract] | ' | ' | ' |
Revenues | $2,782.70 | $2,894.90 | $3,442.30 |
Cost of revenues | 1,844.30 | 1,943 | 2,433.50 |
Gross profit | 938.4 | 951.9 | 1,008.80 |
Operating expenses: | ' | ' | ' |
Research and development | 334.2 | 367.5 | 362.5 |
Selling and marketing | 171.2 | 180.9 | 195.1 |
General and administrative | 148.5 | 160.6 | 192.4 |
Amortization of acquisition-related intangible assets | 33.1 | 44.4 | 42.7 |
Restructuring, asset impairments and other, net | 33.2 | 165.3 | 102.7 |
Goodwill and intangible asset impairment | 0 | 49.5 | 0 |
Total operating expenses | 720.2 | 968.2 | 895.4 |
Operating income (loss) | 218.2 | -16.3 | 113.4 |
Other income (expenses), net: | ' | ' | ' |
Interest expense | -38.6 | -56.1 | -68.9 |
Interest income | 1.3 | 1.5 | 1.1 |
Other | 3.1 | 5.8 | -8.9 |
Loss on debt exchange | -3.1 | -7.8 | -23.2 |
Gain on SANYO Semiconductor acquisition | 0 | 0 | 24.3 |
Other income (expenses), net | -37.3 | -56.6 | -75.6 |
Income (loss) before income taxes | 180.9 | -72.9 | 37.8 |
Income tax provision | -26.9 | -13.4 | -22.9 |
Net income (loss) | 154 | -86.3 | 14.9 |
Less: Net income attributable to non-controlling interest | -3.2 | -4.3 | -3.3 |
Net income (loss) attributable to ON Semiconductor Corporation | 150.8 | -90.6 | 11.6 |
Comprehensive income (loss), net of tax: | ' | ' | ' |
Net income (loss) | 154 | -86.3 | 14.9 |
Foreign currency translation adjustments | -3.8 | 4.3 | 12.3 |
Effects of cash flow hedges | -2.6 | 0.8 | 0 |
Unrealized gain on available-for-sale securities | 0 | 0.4 | 0 |
Amortization of prior service costs of defined benefit plan | 0.1 | 0.1 | 0.1 |
Other comprehensive (loss) income | -6.3 | 5.6 | 12.4 |
Comprehensive income (loss) | 147.7 | -80.7 | 27.3 |
Comprehensive income attributable to non-controlling interest | -3.2 | -4.3 | -3.3 |
Comprehensive income (loss) attributable to ON Semiconductor Corporation | $144.50 | ($85) | $24 |
Net income (loss) per common share attributable to ON Semiconductor Corporation: | ' | ' | ' |
Basic (dollars per common share) | $0.34 | ($0.20) | $0.03 |
Diluted (dollars per common share) | $0.33 | ($0.20) | $0.03 |
Weighted average common shares outstanding: | ' | ' | ' |
Basic weighted average common shares outstanding | 447.9 | 452.6 | 446.7 |
Diluted weighted average common shares outstanding | 450.7 | 452.6 | 457.2 |
Consolidated_Statement_Of_Stoc
Consolidated Statement Of Stockholder's Equity (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Deficit [Member] | Treasury Stock [Member] | Non-controlling Interests In Consolidated Subsidiaries [Member] | |
In Millions, except Share data, unless otherwise specified | ||||||||
Balance, beginning at Dec. 31, 2010 | $1,388 | $4.90 | $3,016.10 | ($59.10) | ($1,213.90) | ($382) | $22 | |
Balance, beginning shares at Dec. 31, 2010 | ' | 485,904,100 | ' | ' | ' | -49,129,923 | ' | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | |
Comprehensive income (loss) | 27.3 | ' | ' | 12.4 | 11.6 | ' | 3.3 | |
Stock option exercises, shares | ' | 8,734,690 | ' | ' | ' | ' | ' | |
Stock option exercises | 59.4 | 0.1 | 59.3 | ' | ' | ' | ' | |
Shares issued pursuant to the employee stock purchase plan, shares | ' | 1,152,778 | ' | ' | ' | ' | ' | |
Shares issued pursuant to the employee stock purchase plan | 8.1 | ' | 8.1 | ' | ' | ' | ' | |
Restricted stock units and stock grant awards issued, shares | ' | 6,660,516 | ' | ' | ' | ' | ' | |
Restricted stock units and stock grant awards issued | 0 | ' | ' | ' | ' | ' | ' | |
Net share settlement of restricted stock units, shares | ' | ' | ' | ' | ' | -2,037,941 | ' | |
Net share settlement of restricted stock units | -19.3 | ' | ' | ' | ' | -19.3 | ' | |
Share-based compensation expense | 33.5 | ' | 33.5 | ' | ' | ' | ' | |
Repurchase or exchange of convertible notes | -25.8 | ' | -25.8 | ' | ' | ' | ' | |
Repurchase or exchange of convertible notes, Series B | 22.3 | ' | 22.3 | ' | ' | ' | ' | |
Balance, ending at Dec. 31, 2011 | 1,493.50 | 5 | 3,113.50 | -46.7 | -1,202.30 | -401.3 | 25.3 | |
Balance, ending shares at Dec. 31, 2011 | ' | 502,452,084 | ' | ' | ' | -51,167,864 | ' | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | |
Comprehensive income (loss) | -80.7 | ' | ' | 5.6 | -90.6 | ' | 4.3 | |
Stock option exercises, shares | ' | 1,866,376 | ' | ' | ' | ' | ' | |
Stock option exercises | 9.4 | 0.1 | 9.3 | ' | ' | ' | ' | |
Shares issued pursuant to the employee stock purchase plan, shares | ' | 1,445,309 | ' | ' | ' | ' | ' | |
Shares issued pursuant to the employee stock purchase plan | 8.3 | ' | 8.3 | ' | ' | ' | ' | |
Restricted stock units and stock grant awards issued, shares | ' | 4,214,230 | ' | ' | ' | ' | ' | |
Restricted stock units and stock grant awards issued | 0 | ' | ' | ' | ' | ' | ' | |
Net share settlement of restricted stock units, shares | ' | ' | ' | ' | ' | -1,141,640 | ' | |
Net share settlement of restricted stock units | -9.6 | ' | ' | ' | ' | -9.6 | ' | |
Share-based compensation expense | 20.5 | ' | 20.5 | ' | ' | ' | ' | |
Repurchase of common stock, shares | -8,800,000 | [1] | ' | ' | ' | ' | -8,844,150 | ' |
Repurchase of common stock | -55.5 | ' | ' | ' | ' | -55.5 | ' | |
Exchange of convertible notes | 4.8 | ' | 4.8 | ' | ' | ' | ' | |
Balance, ending at Dec. 31, 2012 | 1,390.70 | 5.1 | 3,156.40 | -41.1 | -1,292.90 | -466.4 | 29.6 | |
Balance, ending shares at Dec. 31, 2012 | ' | 509,977,999 | ' | ' | ' | -61,153,654 | ' | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | |
Comprehensive income (loss) | 147.7 | ' | ' | -6.3 | 150.8 | ' | 3.2 | |
Stock option exercises, shares | 2,100,000 | 2,084,541 | ' | ' | ' | ' | ' | |
Stock option exercises | 12.1 | 0.1 | 12 | ' | ' | ' | ' | |
Shares issued pursuant to the employee stock purchase plan, shares | ' | 1,330,919 | ' | ' | ' | ' | ' | |
Shares issued pursuant to the employee stock purchase plan | 8.3 | ' | 8.3 | ' | ' | ' | ' | |
Restricted stock units and stock grant awards issued, shares | ' | 2,495,483 | ' | ' | ' | ' | ' | |
Restricted stock units and stock grant awards issued | 0 | ' | ' | ' | ' | ' | ' | |
Net share settlement of restricted stock units, shares | ' | ' | ' | ' | ' | -581,585 | ' | |
Net share settlement of restricted stock units | -4.5 | ' | ' | ' | ' | -4.5 | ' | |
Share-based compensation expense | 32.3 | ' | 32.3 | ' | ' | ' | ' | |
Repurchase of common stock, shares | -13,900,000 | [1] | ' | ' | ' | ' | -13,903,415 | ' |
Repurchase of common stock | -101.6 | ' | ' | ' | ' | -101.6 | ' | |
Exchange of convertible notes | 1.8 | ' | 1.8 | ' | ' | ' | ' | |
Balance, ending at Dec. 31, 2013 | $1,486.80 | $5.20 | $3,210.80 | ($47.40) | ($1,142.10) | ($572.50) | $32.80 | |
Balance, ending shares at Dec. 31, 2013 | ' | 515,888,942 | ' | ' | ' | -75,638,654 | ' | |
[1] | None of these shares had been reissued or retired as of December 31, 2013, but may be reissued or retired by the Company at a later date. |
Consolidated_Statement_Of_Cash
Consolidated Statement Of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income (loss) | $154 | ($86.30) | $14.90 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 211.8 | 243.6 | 229.4 |
Gain on sale or disposal of fixed assets | -6.8 | -9.5 | -8.7 |
Non-cash manufacturing expenses associated with favorable supply agreement | 0 | 0 | 80.4 |
Loss on debt exchange | 3.1 | 7.8 | 23.2 |
Gain on SANYO Semiconductor acquisition | 0 | 0 | -24.3 |
Amortization of debt issuance costs | 1.3 | 2.1 | 2.3 |
Provision for excess inventories | 51.9 | 51.9 | 49.1 |
Non-cash share-based compensation expense | 32.3 | 20.5 | 33.5 |
Non-cash interest | 11.2 | 23.4 | 34.9 |
Non-cash asset impairment charges | 8 | 103 | 86.3 |
Non-cash goodwill and intangible asset impairment charges | 0 | 49.5 | 0 |
Recovery from insurance proceeds on property, plant and equipment | 0 | 0 | -13.3 |
Non-cash portion of insurance recovery | 0 | 0 | -23.9 |
Non-cash foreign currency translation gain | -21 | 0 | 0 |
Other | 8.7 | -4.7 | -3.5 |
Changes in assets and liabilities (exclusive of the impact of acquisitions): | ' | ' | ' |
Receivables | -35.4 | 95.4 | 89.1 |
Inventories | -97.6 | -7.1 | 102.1 |
Other assets | 20.4 | -9.9 | -15.2 |
Accounts payable | 6.6 | -161.3 | -109.7 |
Accrued expenses | 21.7 | 5.9 | -35.1 |
Deferred income on sales to distributors | 6 | -37.5 | 22.5 |
Other long-term liabilities | -48.9 | -10.8 | 11.5 |
Net cash provided by operating activities | 327.3 | 276 | 545.5 |
Cash flows from investing activities: | ' | ' | ' |
Purchases of property, plant and equipment | -155.2 | -256.3 | -316.4 |
Proceeds from sales of property, plant and equipment | 9.7 | 6.2 | 3.3 |
Deposits (made) utilized for purchases of property, plant and equipment | -1.3 | 1.4 | 0.5 |
Recovery from insurance on property, plant and equipment | 0 | 11.5 | 13.3 |
Purchase of businesses, net of cash acquired | 0 | 0 | -17.9 |
Proceeds from held-to-maturity securities | 224.3 | 377.6 | 122.2 |
Purchase of held-to-maturity securities | -195.7 | -273.8 | -370.8 |
Change in restricted cash | 0 | 0 | 142.1 |
Net cash used in investing activities | -118.2 | -133.4 | -423.7 |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from issuance of common stock under the employee stock purchase plan | 8.3 | 8.3 | 8.1 |
Proceeds from exercise of stock options | 12.1 | 9.4 | 59.4 |
Payments of tax withholding for restricted shares | -4.5 | -9.6 | -19.3 |
Repurchase of common stock | -101 | -55.5 | 0 |
Proceeds from debt issuance | 173.7 | 23.6 | 69 |
Payment of capital lease obligations | -41.7 | -40.8 | -39 |
Repayment of long-term debt | -217.7 | -232.5 | -159.5 |
Payments made in connection with debt refinancing | -3.2 | -2.6 | -15.9 |
Net cash used in financing activities | -174 | -299.7 | -97.2 |
Effect of exchange rate changes on cash and cash equivalents | -12.5 | -8.9 | 5 |
Net increase (decrease) in cash and cash equivalents | 22.6 | -166 | 29.6 |
Cash and cash equivalents, beginning of period | 486.9 | 652.9 | 623.3 |
Cash and cash equivalents, end of period | $509.50 | $486.90 | $652.90 |
Background_And_Basis_Of_Presen
Background And Basis Of Presentation | 12 Months Ended |
Dec. 31, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Background And Basis Of Presentation | ' |
Background and Basis of Presentation | |
ON Semiconductor Corporation (“ON Semiconductor”), together with its wholly and majority-owned subsidiaries (the “Company”), prepares its financial statements in accordance with generally accepted accounting principles in the United States of America. As of December 31, 2013, the Company was organized into three operating segments, which also represent its three reporting segments: Application Products Group, Standard Products Group and System Solutions Group (formerly referred to as the "SANYO Semiconductor Products Group"). Additional details on our operating segments are included in Note 18: "Segment Information." | |
The Company condensed certain prior year amounts in our consolidated financial statements to conform to the current year presentation. |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Significant Accounting Policies | ' | |
Significant Accounting Policies | ||
Principles of Consolidation | ||
The accompanying consolidated financial statements include the accounts of the Company, including its wholly-owned and majority-owned subsidiaries. Investments in companies that represent less than 20% of the related voting stock where the Company does not have the ability to exert significant influence are accounted for on a cost basis. All material intercompany accounts and transactions have been eliminated. | ||
Use of Estimates | ||
The preparation of financial statements in accordance with generally accepted accounting principles in the United States of America 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) measurement of valuation allowances relating to trade receivables, inventories and deferred tax assets; (ii) estimates of future payouts for customer incentives, warranties, and restructuring activities; (iii) assumptions surrounding future pension obligations; (iv) fair values of stock options and of financial instruments (including derivative financial instruments); (v) evaluations of uncertain tax positions; and (vi) future cash flows used to assess and test for impairment of long-lived assets and, if applicable, goodwill. Actual results could differ from these estimates. | ||
Cash and cash equivalents | ||
The Company considers all highly liquid investments with an original maturity to the Company of three months or less to be cash equivalents. Cash and cash equivalents are maintained with reputable major financial institutions. If, due to current economic conditions, one or more of the financial institutions with which the Company maintains deposits fails, the Company's cash and cash equivalents may be at risk. Deposits with these banks generally exceed the amount of insurance provided on such deposits; however, these deposits typically may be redeemed upon demand and, therefore, bear minimal risk. | ||
Short-Term Investments | ||
Short-term investments have an original maturity to the Company between three months and one year, and are classified as held-to-maturity. Held-to-maturity securities are carried at amortized cost as it is the intent of the Company to hold these securities until maturity. | ||
Allowance for Doubtful Accounts | ||
In the normal course of business, the Company provides unsecured credit terms to its customers. Accordingly, the Company maintains an allowance for doubtful accounts for possible losses on uncollectible accounts receivable. The Company routinely analyzes accounts receivable and considers history, customer creditworthiness, facts and circumstances specific to outstanding balances, current economic trends, and payment term changes when evaluating adequacy of the allowance for doubtful accounts. For uncollectible accounts receivable, the Company records a loss against the allowance for doubtful accounts only after exhaustive efforts have been made to collect. | ||
Inventories | ||
Inventories are stated at the lower of standard cost (which approximates actual cost on a first-in, first-out basis) or market. General market conditions, as well as the Company's design activities, can cause certain of its products to become obsolete. The Company records provisions for potential excess and obsolete inventories based upon a regular analysis of inventory on hand compared to historical and projected end-user demand. These provisions can influence results from operations. For example, when demand for a given part falls, all or a portion of the related inventory, that is considered to be in excess of anticipated demand, is reserved, impacting cost of revenues and gross profit. If demand recovers and the parts previously reserved are sold, a higher than normal margin will generally be recognized. However, the majority of product inventory that has been previously reserved is ultimately discarded. Although the Company does sell some products that have previously been written down, such sales have historically been relatively consistent on a quarterly basis and the related impact on the Company's gross profit has not been material. | ||
Property, Plant and Equipment | ||
Property, plant and equipment are recorded at cost and are depreciated over estimated useful lives of 30-50 years for buildings and 3-20 years for machinery and equipment using accelerated and straight-line methods. Expenditures for maintenance and repairs are charged to operations in the period in which the expense is incurred. When assets are retired or otherwise disposed of, the related costs and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in operations in the period realized. | ||
The Company evaluates the recoverability of the carrying amount of its property, plant and equipment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be fully recoverable. A potential impairment charge is evaluated when the undiscounted expected cash flows derived from an asset group are less than its carrying amount. Impairment losses are measured as the amount by which the carrying value of an asset group exceeds its fair value and are recognized in operating results. Judgment is used when applying these impairment rules to determine the timing of the impairment test, the undiscounted cash flows used to assess impairments and the fair value of an impaired asset group. The dynamic economic environment in which the Company operates and the resulting assumptions used to estimate future cash flows impact the outcome of these impairment tests. | ||
Business Combination Purchase Price Allocation | ||
The allocation of the purchase price of business combinations is based on management estimates and assumptions, and other information compiled by management, which utilizes established valuation techniques appropriate for the high-technology industry. These techniques include the income approach, cost approach or market approach, depending upon which approach is the most appropriate based on the nature and reliability of available data. The income approach is predicated upon the value of the future cash flows that an asset is expected to generate over its economic life. The cost approach takes into account the cost to replace (or reproduce) the asset and the effects on the asset's value of physical, functional and/or economic obsolescence that has occurred with respect to the asset. The market approach is used to estimate value from an analysis of actual transactions or offerings for economically comparable assets available as of the valuation date. See Note 4: "Acquisitions" for additional information. | ||
Goodwill | ||
Goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired in the Company's acquisitions. See Note 5: "Goodwill and Intangible Assets" and Note 4: "Acquisitions" for additional information. | ||
The Company evaluates its goodwill for potential impairment annually during the fourth quarter and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. Determining the fair value of the Company's reporting units is subjective in nature and involves the use of significant estimates and assumptions, including projected net cash flows, discount and long-term growth rates. The Company determines the fair value of its reporting units based on an income approach, whereby the fair value of the reporting unit is derived from the present value of estimated future cash flows. Estimates of the future cash flows associated with the businesses are critical to these assessments. The assumptions about future conditions include factors such as future revenues, gross profits, operating expenses, and industry trends. The Company considers historical rates and current market conditions when determining the discount and long-term growth rates to use in its analysis. The Company considers other valuation methods, such as the cost approach or market approach, if it is determined that these methods provide a more representative approximation of fair value. Changes in these estimates based on evolving economic conditions or business strategies could result in material impairment charges in future periods. The Company bases its fair value estimates on assumptions it believes to be reasonable. Actual future results may differ from those estimates. | ||
When evaluating goodwill for impairment, the Company may initially perform a qualitative assessment which includes a review and analysis of certain quantitative factors to estimate if its reporting units' fair values significantly exceed their carrying values. When the estimate of a reporting unit's fair value appears more likely than not to be less than its carrying value based on this qualitative assessment, the Company continues to the first step of a two step impairment test. | ||
The first step of the goodwill impairment test compares the fair value of the reporting unit to its carrying value. If the fair value of the reporting unit exceeds the carrying value of the net assets associated with that unit, goodwill is not considered impaired and the Company is not required to perform further testing. If the carrying value of the net assets associated with the reporting unit exceeds the fair value of the reporting unit, then the Company must perform the second step of the goodwill impairment test in order to determine the implied fair value of the reporting unit’s goodwill. If, during this second step, the Company determines that the carrying value of a reporting unit’s goodwill exceeds its implied fair value, the Company would record an impairment loss equal to the difference. | ||
The Company has determined that its product families, which are components of its operating segments, constitute reporting units for purposes of allocating and testing goodwill. The Company's product families are one level below its operating segments, with the Company's segment management conducting regular reviews of the operating results for each product family. As of each acquisition date, all goodwill acquired was assigned to the product families that were expected to benefit from the synergies of the respective acquisition. The amount of goodwill assigned to each reporting unit was the difference between the fair value of the acquired business included in a reporting unit and the fair value of identifiable assets and liabilities allocated to the reporting unit as of the acquisition date. | ||
Intangible Assets | ||
The Company's acquisitions have resulted in intangible assets consisting of values assigned to IP, assembled workforce, customer relationships, non-compete agreements, patents, developed technology, trademarks, acquired software and IPRD. These are stated at cost less accumulated amortization, are amortized over their estimated useful lives ranging from less than 1 year to 18 years, and are reviewed for impairment when facts or circumstances suggest that the carrying value of the asset group containing these assets may not be recoverable. A potential impairment charge is evaluated when the undiscounted expected cash flows derived from an asset group are less than its carrying amount. Impairment losses are measured as the amount by which the carrying value of an asset group exceeds its fair value and are recognized in operating results. Judgment is used when applying these impairment rules to determine the timing of the impairment test, the undiscounted cash flows used to assess impairments and the fair value of an impaired asset group. The dynamic economic environment in which the Company operates and the resulting assumptions used to estimate future cash flows impact the outcome of these impairment tests. See Note 5: "Goodwill and Intangible Assets" for additional information. | ||
Treasury Stock | ||
Treasury stock is recorded at cost, inclusive of fees, commissions and other expenses, when outstanding common shares are repurchased or otherwise acquired by the Company, including when outstanding shares are withheld to satisfy tax withholding obligations in connection with certain shares pursuant to restricted stock units under the Company's share-based compensation plans. See Note 9: "Earnings Per Share and Equity" for additional information. | ||
Debt Issuance Costs | ||
Debt issuance costs are capitalized and amortized over the term of the underlying agreements using the effective interest method and, for the Company's convertible notes, are amortized through the first put date, which the Company considers to be the earliest maturity date. Upon prepayment of debt, the related unamortized debt issuance costs are charged to expense. Amortization of debt issuance costs is included in interest expense while the unamortized balance is included in other assets. See Note 8: "Long-Term Debt - Loss on Debt Repurchase or Exchange" for additional information. | ||
Revenue Recognition | ||
The Company generates revenue 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 services provided to customers. | ||
The Company recognizes revenue on sales to OEMs, distributors that are not entitled to returns and allowances, electronic manufacturing service providers and on sales of manufacturing services, net of provisions for related sales returns and allowances. Revenue is recognized when persuasive evidence of an arrangement exists, title and risk of loss pass to the customer (which is generally upon shipment), the price is fixed or determinable and collectability is reasonably assured. | ||
For products sold to distributors who are entitled to returns and allowances, the Company recognizes the related revenue and cost of revenues when it is informed by the distributor that it has resold the products to the end-user. As a result of the Company's inability to reliably estimate up front the effects of the returns and allowances with these distributors, the Company defers the related revenue and gross margin on sales to these distributors until it is informed by the distributor that the products have been resold to the end-user. Although payment terms vary, most distributor agreements require payment within 30 days. | ||
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. | ||
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. Under the Company's general agreements, distributors are allowed to return any product that has been removed from the price book. In addition, agreements with distributors typically contain standard stock rotation provisions permitting limited levels of product returns. However, since the Company defers recognition of revenue and gross profit on sales to distributors until the distributor resells the product, due to the inability to reliably estimate up front the effect of the returns and allowances with these distributors, sales returns and allowances have minimal impact on the results of operations. 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 adjustments, as necessary. | ||
The Company generally warrants that products sold to its customers will, at the time of shipment, be free from defects in workmanship and materials and conform to approved specifications. The Company's standard warranty extends for a period that is the greater of (i) two years from the date of shipment or (ii) the period of time specified in the customer's standard warranty (provided that the customer's standard warranty is stated in writing and extended to purchasers at no additional charge). At the time revenue is recognized, the Company establishes an accrual for estimated warranty expenses associated with its sales, recorded as a component of cost of revenues. In addition, the Company also offers cash discounts to certain customers for payments received within an agreed upon time, generally 10 days after shipment. The Company records a reserve for cash discounts as a reduction to accounts receivable and a reduction to revenues, based on experience with each customer. | ||
Freight and handling costs are included in cost of revenues and are recognized as period expense during the period in which they are incurred. | ||
Research and Development Costs | ||
Research and development costs are expensed as incurred. | ||
Share-Based Compensation | ||
Share-based compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as expense over the employee's requisite service period. The Company has outstanding awards with performance, time and service-based vesting provisions. See Note 10: "Share-Based Compensation" for additional information. | ||
Income Taxes | ||
Income taxes are accounted for using the asset and liability method. Under this method, deferred income tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which these temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for those deferred tax assets for which management cannot conclude that it is more likely than not that such deferred tax assets will be realized. | ||
In determining the amount of the valuation allowance, estimated future taxable income, as well as feasible tax planning strategies for each taxing jurisdiction are considered. If the Company determines it is more likely than not that all or a portion of the remaining deferred tax assets will not be realized, the valuation allowance will be increased with a charge to income tax expense. Conversely, if the Company determines it is more likely than not to be able to utilize all or a portion of the deferred tax assets for which a valuation allowance has been provided, the related portion of the valuation allowance will be released to income as a reduction to income tax expense. | ||
The Company recognizes and measures benefits for uncertain tax positions using a two-step approach. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that is it more likely than not that the tax positions will be sustained upon audit, including resolution of any related appeals or litigation processes. For tax positions that are more likely than not to be sustained upon audit, the second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon settlement. The Company's practice is to recognize interest and/or penalties related to income tax matters in income tax expense. Significant judgment is required to evaluate uncertain tax positions. Evaluations are based upon a number of factors, including changes in facts or circumstances, changes in tax law, correspondence with tax authorities during the course of audits and effective settlement of audit issues. Changes in the recognition or measurement of uncertain tax positions could result in material increases or decreases in income tax expense in the period in which the change is made, which could have a material impact on the Company's effective tax position. See Note 15: "Income Taxes" for additional information. | ||
Foreign Currencies | ||
Most of the Company's foreign subsidiaries conduct business primarily in U.S. dollars and, as a result, utilize the dollar as their functional currency. For the remeasurement of financial statements of these subsidiaries, assets and liabilities in foreign currencies that are receivable or payable in cash are remeasured at current exchange rates, while inventories and other non-monetary assets in foreign currencies are remeasured at historical rates. Gains and losses resulting from the remeasurement of such financial statements are included in the operating results, as are gains and losses incurred on foreign currency transactions. | ||
The Company's Japanese subsidiaries utilize Japanese Yen as their functional currency. The assets and liabilities of these subsidiaries are translated at current exchange rates, while revenues and expenses are translated at the average rates in effect for the period. The related translation gains and losses are included in other comprehensive income or loss within the Consolidated Statements of Operations and Comprehensive Income. | ||
Defined Benefit Pension Plans | ||
The Company maintains defined benefit pension plans, covering certain of its foreign employees. For financial reporting purposes, net periodic pension costs and pension obligations are determined based upon a number of actuarial assumptions, including discount rates for plan obligations, assumed rates of return on pension plan assets and assumed rates of compensation increases for employees participating in plans. These assumptions are based upon management's judgment and consultation with actuaries, considering all known trends and uncertainties. See Note 11: "Employee Benefit Plans" for additional information. | ||
Contingencies | ||
The Company is involved in a variety of legal matters that arise in the normal course of business. Based on information available, management evaluates the relevant range and likelihood of potential outcomes and records the appropriate liability when the amount is deemed probable and reasonably estimable. | ||
Fair Value Measurement | ||
The Company measures certain of its financial and non-financial assets at fair value by using a fair value hierarchy that prioritizes certain inputs into individual fair value measurement approaches. Fair value is the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value, as follows: | ||
• | Level 1 - Quoted prices in active markets for identical assets or liabilities; | |
• | Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; | |
• | Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |
Companies may choose to measure certain financial instruments and certain other items at fair value. Unrealized gains and losses on items for which the fair value option has been elected must be reported in earnings. The Company has elected not to carry any of its debt instruments at fair value. See Note 13: "Fair Value Measurements" for additional information. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
ASU No. 2013-11 - “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” (“ASU 2013-11”) | |
In July 2013, the FASB issued ASU 2013-11, which applies to the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. Pursuant to ASU 2013-11, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, with certain exceptions. The amendments contained in ASU 2013-11 do not require new recurring disclosures. The related amendments are effective for reporting periods beginning after December 15, 2013; however early adoption is permitted. ASU 2013-11 is not expected to have a material impact on the Company's consolidated financial statements. |
Acquisitions
Acquisitions | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Business Combinations [Abstract] | ' | ||||
Acquisitions | ' | ||||
Acquisitions | |||||
Acquisition of SANYO Semiconductor (the "SANYO Semiconductor Transaction") | |||||
On January 1, 2011, the Company paid SANYO Electric $142.1 million in cash and issued a $377.5 million note payable to SANYO Electric, through SCI LLC, and as a result SANYO Semiconductor became a wholly-owned subsidiary of the Company as part of its System Solutions Group (formerly referred to as the "SANYO Semiconductor Products Group"). During 2011, the Company received $39.7 million in cash from SANYO Electric, of which $19.0 million was considered in the initial purchase accounting estimates, relating to funding adjustments for working capital and pension levels, as defined in the purchase agreement. As a result of these adjustments, the purchase price was reduced to $479.9 million as of December 31, 2011. | |||||
SANYO Semiconductor designs, manufactures and sells discrete components, hybrid ICs, radio frequency and power related products as well as custom ICs. Many of these devices are similar to the Company’s existing product offerings; however, SANYO Semiconductor expanded the Company’s capacity in microcontrollers and custom ASICs for the consumer, automotive and industrial end-markets. SANYO Semiconductor also expands the Company’s presence in the Japan market. | |||||
The following table presents the fair values of the net assets of SANYO Semiconductor as acquired (in millions): | |||||
Fair Value | |||||
Cash and cash equivalents | $ | 117.1 | |||
Receivables, net | 242.1 | ||||
Inventories | 400.3 | ||||
Other current assets | 119.7 | ||||
Property, plant and equipment | 146.7 | ||||
Intangible assets | 55.7 | ||||
Other non-current assets | 75.4 | ||||
Total assets acquired | 1,157.00 | ||||
Accounts payable | (300.0 | ) | |||
Other current liabilities | (152.0 | ) | |||
Long-term accrued liabilities | (200.8 | ) | |||
Total liabilities assumed | (652.8 | ) | |||
Net assets acquired | 504.2 | ||||
Gain on acquisition | (24.3 | ) | |||
Purchase price | $ | 479.9 | |||
The acquisition was accounted for as a business purchase pursuant to ASC Topic 805, Business Combinations, whereby acquisition costs are not included as components of consideration transferred, but are accounted for as expenses in the period in which the costs are incurred. In 2011, the Company recorded $7.3 million in acquisition related expenses associated with the SANYO Semiconductor Transaction. | |||||
Accounting standards require that when the fair value of the net assets acquired exceeds the purchase price, resulting in a bargain purchase gain, the acquirer must reassess the reasonableness of the values assigned to all of the net assets acquired, liabilities assumed and consideration transferred. In 2011, the Company performed such a reassessment and concluded that the values assigned for the SANYO Semiconductor Transaction were reasonable. In 2011, the Company recorded a $24.3 million bargain purchase gain on the SANYO Semiconductor Transaction. The Company believes the gain realized in purchase accounting was the result of a number of factors, including the following: SANYO Electric's intent to exit its semiconductor operations, historical losses recognized by SANYO Electric, SANYO Electric viewed this as the best outcome for SANYO Semiconductor and the fact that the Company would incur expenses associated with the transfer and consolidation of certain operations. | |||||
The $55.7 million of acquired intangible assets were assigned a weighted-average useful life of approximately 8.8 years. The intangible assets were comprised of: patents of $27.0 million (5.5-year weighted-average useful life), $3.0 million of trademarks (3.0-year weighted-average useful life) and customer relationships of $25.7 million (13.0-year weighted-average useful life). Other current assets include $80.0 million representing the estimated fair value of a favorable supply arrangement provided by SANYO Electric to the Company in the form of operational cost reduction to the acquired business during the period of time it was effectively required to utilize certain SANYO Electric seconded employees and manufacturing facilities in Japan. This asset has been charged to cost of goods sold over the period of benefit, which was the first five months of 2011. The amortization recorded totaled $80.4 million as a result of foreign currency exchange rate changes over the recognition period. | |||||
Included in the final allocation of net assets acquired are long-term liabilities assumed representing approximately $50.9 million of underfunded pension obligations relating to existing defined benefit pension plans as well as $144.9 million representing estimated liabilities associated with the Company’s estimated portion of underfunded pension obligations relating to certain employees participating in the SANYO Electric or affiliate multiemployer defined benefit pension plans from which the Company withdrew and established defined benefit pension plans which provide similar retirement benefits as the SANYO Electric sponsored multiemployer plans. See Note 11: "Employee Benefit Plans" for additional information. | |||||
The allocation of the purchase price was based on management estimates and assumptions, and other information compiled by management, which utilized established valuation techniques appropriate for the high-technology industry. The income approach, cost approach or market approach was used based on the nature of the asset or liability and reliability of the data available. | |||||
Acquisition of the CMOS ISBU from Cypress Semiconductor | |||||
On February 27, 2011, the Company acquired 100% of the CMOS ISBU from Cypress Semiconductor Corporation for approximately $34.1 million in cash. The ISBU business includes a broad portfolio of high-performance custom and standard image sensors used in multi-megapixel machine vision, linear and two dimensional (2D) bar code imaging, medical x-ray imaging, biometrics, digital photography and cinematography, and aerospace applications. The acquired products include the VITA, LUPA, STAR and IBIS families, which are all well known throughout the industry. | |||||
The following table presents the allocation of the purchase price of the ISBU to the assets acquired and liabilities assumed on February 27, 2011 based on their fair values (in millions): | |||||
Allocation | |||||
Cash and cash equivalents | $ | 1.5 | |||
Receivables, net | 2.6 | ||||
Inventories | 9.2 | ||||
Other current assets | 0.4 | ||||
Property, plant and equipment | 1.2 | ||||
Goodwill | 7.5 | ||||
Intangible assets | 11.2 | ||||
In-process research and development | 11.2 | ||||
Total assets acquired | 44.8 | ||||
Accounts payable | (5.6 | ) | |||
Other current liabilities | (3.7 | ) | |||
Other non-current liabilities | (1.4 | ) | |||
Total liabilities assumed | (10.7 | ) | |||
Net assets acquired | $ | 34.1 | |||
Acquired intangible assets include $11.2 million which was assigned to IPRD assets and is being amortized over the useful life upon successful completion of the projects or expensed if impaired. The value assigned to IPRD was determined by considering the importance of products under development to the overall development plan, estimating costs to develop the purchased IPRD into commercially viable products, estimating the resulting net cash flows from the projects when completed and discounting the net cash flows to their present value. The fair value of IPRD was determined using the income approach. The income approach recognizes that the current value of an asset or liability is premised on the expected receipt or payment of future economic benefits generated over its remaining life. A discount rate of 17.5% was used in the present value calculations, and was derived from a weighted-average cost of capital analysis, adjusted to reflect the risks inherent in the acquired research and development operations. | |||||
Other acquired intangible assets of $11.2 million include: customer relationships of $4.2 million (6.0-year weighted-average useful life), developed technology of $6.2 million (7.0-year weighted-average useful life) and backlog of $0.8 million (0.3-year weighted-average useful life). | |||||
Goodwill of $7.5 million was assigned to the Application Products Group. Among the factors that contributed to goodwill arising from the acquisition were the potential synergies expected to be derived from combining the ISBU business with the Company’s existing sensor business. These relationships provided and continue to provide the capability of selling advanced technology of next generation products to the market place. Goodwill will not be amortized but instead tested for impairment at least annually (more frequently if certain indicators are present). The $7.5 million of goodwill as of December 31, 2013 is not expected to be deductible for tax purposes. | |||||
The allocation of purchase price was based on management estimates and assumptions, and other information compiled by management, which utilized established valuation techniques appropriate for the high-technology industry. The valuation technique used was the income approach, cost approach or market approach, as determined to be the most appropriate based on the nature of the asset or liability and reliability of the data available. |
Goodwill_And_Intangible_Assets
Goodwill And Intangible Assets | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Goodwill And Intangible Assets | ' | ||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets | |||||||||||||||||||||||||||||||||
Goodwill | |||||||||||||||||||||||||||||||||
Goodwill is tested for impairment at the reporting unit level which is one level below the Company's operating segments. During the first step of the Company’s annual impairment analysis in the fourth quarters of 2013 and 2011, the Company determined that the carrying amount of the Company’s goodwill for all of its reporting units was recoverable. | |||||||||||||||||||||||||||||||||
During the Company's annual impairment analysis in the fourth quarter of 2012, the Company performed a qualitative assessment, including a review and analysis of certain quantitative factors, market conditions and known trends that are specific to the respective reporting units to estimate if its reporting units' fair values significantly exceeded their carrying values. For reporting units where the fair value appeared more likely than not to be less than its carrying value based on this qualitative assessment, the Company continued to the first step of the two step impairment test. As a result of the 2012 impairment analysis, the Company recognized a goodwill impairment charge of $14.1 million relating to one of its reporting units in the Company's Standard Products Group operating segment. | |||||||||||||||||||||||||||||||||
The Company uses the income approach, based on estimated future cash flows, to perform the goodwill impairment test. These estimates include assumptions about future conditions such as future revenues, gross profits, operating expenses, and industry trends. The Company considers other valuation methods, such as the cost approach or market approach, if it is determined that these methods provide a more representative approximation of fair value. The material assumptions used for the income approach for 2013 and 2011, when no impairment charges were necessary, included projected net cash flows, a weighted-average discount rate of approximately 14% and 14%, respectively, and a weighted-average long-term growth rate of 4.0% and 3.9%, respectively. The Company considered historical rates and current market conditions when determining the discount and growth rates to use in the Company's analysis. | |||||||||||||||||||||||||||||||||
The following table summarizes goodwill by relevant reportable segment as of December 31, 2013 and December 31, 2012 (in millions): | |||||||||||||||||||||||||||||||||
Balance as of December 31, 2013 | Balance as of December 31, 2012 | ||||||||||||||||||||||||||||||||
Goodwill | Accumulated Amortization | Accumulated Impairment Losses | Carrying Value | Goodwill | Accumulated Amortization | Accumulated Impairment Losses | Carrying Value | ||||||||||||||||||||||||||
Operating Segment: | |||||||||||||||||||||||||||||||||
Application Products Group | $ | 547.4 | $ | (4.2 | ) | $ | (406.0 | ) | $ | 137.2 | $ | 547.4 | $ | (4.2 | ) | $ | (406.0 | ) | $ | 137.2 | |||||||||||||
Standard Products Group | 76 | (5.6 | ) | (23.0 | ) | 47.4 | 76 | (5.6 | ) | (23.0 | ) | 47.4 | |||||||||||||||||||||
$ | 623.4 | $ | (9.8 | ) | $ | (429.0 | ) | $ | 184.6 | $ | 623.4 | $ | (9.8 | ) | $ | (429.0 | ) | $ | 184.6 | ||||||||||||||
The following table summarizes the change in goodwill from December 31, 2011 to December 31, 2013 (in millions): | |||||||||||||||||||||||||||||||||
Net balance as of December 31, 2011 | $ | 198.7 | |||||||||||||||||||||||||||||||
Impairment charge | (14.1 | ) | |||||||||||||||||||||||||||||||
Net balance as of December 31, 2012 | 184.6 | ||||||||||||||||||||||||||||||||
Impairment charge | — | ||||||||||||||||||||||||||||||||
Net balance as of December 31, 2013 | $ | 184.6 | |||||||||||||||||||||||||||||||
Intangible Assets | |||||||||||||||||||||||||||||||||
As a result of the Company's annual goodwill impairment testing for 2012, it was determined that certain intangible assets associated with the Standard Products Group were also impaired. In connection with this impairment, the Company wrote-off approximately $3.8 million of intangible assets associated with the relevant Standard Products Group operating segment. | |||||||||||||||||||||||||||||||||
Additionally, during the fourth quarter of 2012, the Company assessed the current period and expected future operating results of the System Solutions Group and recorded an impairment charge of approximately $126.0 million related to long-lived assets, including approximately $31.6 million of intangible assets. See Note 13: "Fair Value Measurements" for additional information. | |||||||||||||||||||||||||||||||||
Intangible assets, net were as follows as of December 31, 2013 and December 31, 2012 (in millions): | |||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Original | Accumulated | Foreign Currency | Accumulated Impairment | Carrying | Useful Life | ||||||||||||||||||||||||||||
Cost | Amortization | Translation Adjustment | Value | (in Years) | |||||||||||||||||||||||||||||
Intellectual property | $ | 13.9 | $ | (9.4 | ) | $ | — | $ | (0.4 | ) | $ | 4.1 | 12-May | ||||||||||||||||||||
Customer relationships | 280.3 | (105.5 | ) | (27.4 | ) | (23.0 | ) | 124.4 | 18-May | ||||||||||||||||||||||||
Patents | 43.7 | (19.0 | ) | — | (13.7 | ) | 11 | 12 | |||||||||||||||||||||||||
Developed technology | 146.2 | (66.7 | ) | — | (2.4 | ) | 77.1 | 12-May | |||||||||||||||||||||||||
Trademarks | 14 | (6.1 | ) | — | (1.1 | ) | 6.8 | 15 | |||||||||||||||||||||||||
Total intangibles | $ | 498.1 | $ | (206.7 | ) | $ | (27.4 | ) | $ | (40.6 | ) | $ | 223.4 | ||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Original | Accumulated | Foreign Currency | Accumulated Impairment | Carrying | Useful Life | ||||||||||||||||||||||||||||
Cost | Amortization | Translation Adjustment | Value | (in Years) | |||||||||||||||||||||||||||||
Intellectual property | $ | 13.9 | $ | (8.7 | ) | $ | — | $ | (0.4 | ) | $ | 4.8 | 12-May | ||||||||||||||||||||
Customer relationships | 280.3 | (91.8 | ) | (26.9 | ) | (23.0 | ) | 138.6 | 18-May | ||||||||||||||||||||||||
Patents | 43.7 | (16.6 | ) | — | (13.7 | ) | 13.4 | 12 | |||||||||||||||||||||||||
Developed technology | 146.2 | (51.3 | ) | — | (2.4 | ) | 92.5 | 12-May | |||||||||||||||||||||||||
Trademarks | 14 | (5.2 | ) | — | (1.1 | ) | 7.7 | 15 | |||||||||||||||||||||||||
Total intangibles | $ | 498.1 | $ | (173.6 | ) | $ | (26.9 | ) | $ | (40.6 | ) | $ | 257 | ||||||||||||||||||||
Amortization expense for intangible assets amounted to $33.1 million for the year ended December 31, 2013, of which none was included in cost of revenues; $44.4 million for the year ended December 31, 2012, of which none was included in cost of revenues; and $43.8 million for the year ended December 31, 2011, of which $1.1 million was included in cost of revenues. Amortization expense for intangible assets is expected to be as follows over the next five years, and thereafter (in millions): | |||||||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
2014 | $ | 32.6 | |||||||||||||||||||||||||||||||
2015 | 31.7 | ||||||||||||||||||||||||||||||||
2016 | 30.6 | ||||||||||||||||||||||||||||||||
2017 | 27.7 | ||||||||||||||||||||||||||||||||
2018 | 24.4 | ||||||||||||||||||||||||||||||||
Thereafter | 76.4 | ||||||||||||||||||||||||||||||||
Total estimated amortization expense | $ | 223.4 | |||||||||||||||||||||||||||||||
Restructuring_Asset_Impairment
Restructuring, Asset Impairments And Other, Net | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Restructuring Charges [Abstract] | ' | ||||||||||||||||||||
Restructuring, Asset Impairments And Other, Net | ' | ||||||||||||||||||||
Restructuring, Asset Impairments and Other, Net | |||||||||||||||||||||
A summary description of the activity included in the “Restructuring, Asset Impairments and Other, net” caption on the Company's Consolidated Statements of Operations and Comprehensive Income for the years ended December 31, 2013, 2012 and 2011 is as follows (in millions): | |||||||||||||||||||||
Restructuring | Asset Impairments | Other | Total | ||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
System Solutions Group Voluntary Retirement Programs | 52.9 | — | (15.6 | ) | 37.3 | ||||||||||||||||
Aizu facility closure | 3.1 | — | (22.4 | ) | (19.3 | ) | |||||||||||||||
KSS facility closure | 6.5 | 3.5 | — | 10 | |||||||||||||||||
Other (1) | 4.8 | 4.5 | (4.1 | ) | 5.2 | ||||||||||||||||
Total | $ | 67.3 | $ | 8 | $ | (42.1 | ) | $ | 33.2 | ||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||
2012 global workforce reduction | $ | 11.2 | $ | — | $ | — | $ | 11.2 | |||||||||||||
System Solutions Group asset impairment | — | 94.4 | — | 94.4 | |||||||||||||||||
System Solutions Group Voluntary Retirement Program | 47.6 | — | (11.7 | ) | 35.9 | ||||||||||||||||
Aizu facility closure | 9 | 4.5 | 0.1 | 13.6 | |||||||||||||||||
System Solutions Group consolidation | 3.6 | — | — | 3.6 | |||||||||||||||||
Other (1) | 2 | 4.1 | 0.5 | 6.6 | |||||||||||||||||
Total | $ | 73.4 | $ | 103 | $ | (11.1 | ) | $ | 165.3 | ||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||
Thailand facility closure | $ | 5.7 | $ | 24.8 | $ | (18.6 | ) | $ | 11.9 | ||||||||||||
Aizu facility closure | 6.5 | 61.5 | 2 | 70 | |||||||||||||||||
System Solutions Group consolidation | 10 | — | — | 10 | |||||||||||||||||
Japan earthquake and tsunami | — | — | 4.8 | 4.8 | |||||||||||||||||
Phoenix wafer manufacturing facility closure | 4.3 | — | — | 4.3 | |||||||||||||||||
Other (1) | 1.2 | — | 0.5 | 1.7 | |||||||||||||||||
Total | $ | 27.7 | $ | 86.3 | $ | (11.3 | ) | $ | 102.7 | ||||||||||||
(1) Includes charges related to the certain reductions in workforce, certain acquisitions, other facility closures, asset disposal activity and certain other activity which is not considered to be significant. | |||||||||||||||||||||
Restructuring | |||||||||||||||||||||
The following is a rollforward of the accrued restructuring charges from December 31, 2012 to December 31, 2013 (in millions): | |||||||||||||||||||||
Balance as of December 31, 2012 | Charges | Usage | Adjustments | Balance as of December 31, 2013 | |||||||||||||||||
Estimated employee separation charges | $ | 15.5 | $ | 62.2 | $ | (50.9 | ) | $ | (1.6 | ) | $ | 25.2 | |||||||||
Estimated costs to exit | 1.6 | 5.1 | (5.7 | ) | — | 1 | |||||||||||||||
Total | $ | 17.1 | 67.3 | (56.6 | ) | (1.6 | ) | 26.2 | |||||||||||||
The following is a rollforward of the accrued restructuring charges from December 31, 2011 to December 31, 2012 (in millions): | |||||||||||||||||||||
Balance as of December 31, 2011 | Charges | Usage | Adjustments | Balance as of December 31, 2012 | |||||||||||||||||
Estimated employee separation charges | $ | 8.9 | $ | 67.8 | $ | (60.7 | ) | $ | (0.5 | ) | $ | 15.5 | |||||||||
Estimated costs to exit | 8.4 | 5.6 | (12.2 | ) | (0.2 | ) | 1.6 | ||||||||||||||
Total | $ | 17.3 | $ | 73.4 | $ | (72.9 | ) | $ | (0.7 | ) | $ | 17.1 | |||||||||
The activity related to the Company’s significant restructuring programs that were either initiated in 2013 or had not been completed as of December 31, 2013, are as follows: | |||||||||||||||||||||
System Solutions Group Voluntary Retirement Programs | |||||||||||||||||||||
During the first quarter of 2013, the Company initiated a voluntary retirement program for employees of certain of its System Solutions Group subsidiaries in Japan (the "Q1 2013 Voluntary Retirement Program"). Approximately 500 employees opted to retire under the Q1 2013 Voluntary Retirement Program, and substantially all employees had retired by December 31, 2013. For the year ended December 31, 2013, the Company recognized approximately $35.4 million of employee separation charges related to the Q1 2013 Voluntary Retirement Program. | |||||||||||||||||||||
During the fourth quarter of 2013, the Company initiated an additional voluntary retirement program for employees of certain of its System Solutions Group subsidiaries in Japan (the "Q4 2013 Voluntary Retirement Program"). Approximately 350 employees opted to retire under the Q4 2013 Voluntary Retirement Program, and 170 employees had retired by December 31, 2013. The remaining employees who accepted retirement packages are expected to retire by the end of 2014. For the year ended December 31, 2013, the Company recognized approximately $17.5 million of employee separation charges related to the Q4 2013 Voluntary Retirement Program. The Company expects to incur an additional $6.7 million in employee separation charges related to this program through the end of 2014, offset by a pension curtailment gain of approximately $4.5 million. | |||||||||||||||||||||
As part of these restructuring activities, approximately 70 contractor positions were also identified for elimination, of which approximately half were terminated by the end of 2013, with the remaining contractors to be terminated by the end of 2014. | |||||||||||||||||||||
As a result of the System Solutions Group headcount reductions, the Company recognized a $15.6 million benefit to the pension and related retirement liabilities associated with the affected employees during the year ended December 31, 2013, which is recorded in Restructuring, Asset Impairments and Other, Net. See Note 11: "Employee Benefit Plans" for additional information associated with the System Solutions Group's voluntary retirement programs. | |||||||||||||||||||||
As of December 31, 2013, the accrued liability associated with employee separation charges was $17.8 million for the System Solutions Group Voluntary Retirement Programs. | |||||||||||||||||||||
Aizu Facility Closure | |||||||||||||||||||||
During 2011, the Company committed to a plan to close its wafer manufacturing facility located in Aizu, Japan (the "Aizu Plan") for cost savings purposes. The Company fully exited the facility pursuant to the Aizu Plan during 2013. Cumulative charges of $86.7 million, net of adjustments, have been recognized through December 31, 2013, related to the Aizu Plan. As of December 31, 2013, all affected employees have been separated from the Company. | |||||||||||||||||||||
In connection with the closure and sale of its Aizu facility, the Company released the cumulative foreign currency translation adjustment of $21.0 million related to the Aizu facility, which was recorded as a benefit to Restructuring, Asset Impairments and Other, net for the year ended December 31, 2013. See Note 16: "Changes in Accumulated Other Comprehensive Loss" for additional information. | |||||||||||||||||||||
All previously accrued liabilities associated with employee separation charges at the Aizu facility have been paid as of December 31, 2013. | |||||||||||||||||||||
KSS Facility Closure | |||||||||||||||||||||
On October 6, 2013, the Company announced a plan to close KSS by the end of the second quarter of 2014 (the "KSS Plan"). Pursuant to the KSS Plan, a majority of the production from KSS will be transferred to other of the Company's manufacturing facilities. The KSS Plan includes the elimination of approximately 170 full time and 40 contract employees. During the year ended December 31, 2013, the Company recorded approximately $3.4 million of employee separation charges related to the KSS Plan. Additionally, the Company recognized a multi-employer pension plan withdrawal liability of $3.1 million related to the KSS Plan. The company expects to record additional KSS Plan severance costs and related employee benefit plan expenses of approximately $8.3 million along with other exit costs of approximately $1.0 million to $2.0 million, offset by a pension curtailment gain of approximately $2.1 million through the end of 2014. | |||||||||||||||||||||
As of December 31, 2013, the accrued liability associated with employee separation charges was $6.2 million for the KSS Plan. | |||||||||||||||||||||
The decision to close the KSS facility triggered an impairment test to determine recoverability of the carrying value of the related long-lived assets, including certain held-for-sale properties. See Note 13: "Fair Value Measurements" for additional information. |
Balance_Sheet_Information
Balance Sheet Information | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Balance Sheet Related Disclosures [Abstract] | ' | |||||||
Balance Sheet Information | ' | |||||||
Balance Sheet Information | ||||||||
Certain significant amounts included in the Company's balance sheet as of December 31, 2013 and December 31, 2012 consist of the following (dollars in millions): | ||||||||
December 31, 2013 | December 31, 2012 | |||||||
Receivables, net: | ||||||||
Accounts receivable | $ | 384.4 | $ | 360.5 | ||||
Less: Allowance for doubtful accounts | (1.0 | ) | (2.7 | ) | ||||
$ | 383.4 | $ | 357.8 | |||||
Inventories: | ||||||||
Raw materials | $ | 89.2 | $ | 73.2 | ||||
Work in process | 319.6 | 310.9 | ||||||
Finished goods | 203 | 197.6 | ||||||
$ | 611.8 | $ | 581.7 | |||||
Other Current Assets: | ||||||||
Prepaid expenses | $ | 24.8 | $ | 24.3 | ||||
Value added and other income tax receivables | 31.7 | 34.3 | ||||||
Other | 32.8 | 63.6 | ||||||
$ | 89.3 | $ | 122.2 | |||||
Property, plant and equipment, net: (1) | ||||||||
Land | $ | 52.3 | $ | 67.4 | ||||
Buildings | 467.7 | 572.4 | ||||||
Machinery and equipment | 1,918.40 | 1,979.40 | ||||||
Total property, plant and equipment | 2,438.40 | 2,619.20 | ||||||
Less: Accumulated depreciation | (1,364.2 | ) | (1,515.9 | ) | ||||
$ | 1,074.20 | $ | 1,103.30 | |||||
Accrued expenses: | ||||||||
Accrued payroll | $ | 91.3 | $ | 102.9 | ||||
Sales related reserves | 54.2 | 64.9 | ||||||
Restructuring reserves | 26.2 | 17.1 | ||||||
Accrued pension liability | 10.4 | 7.4 | ||||||
Accrued interest | 1.9 | 0.6 | ||||||
Other | 36.3 | 63.8 | ||||||
$ | 220.3 | $ | 256.7 | |||||
-1 | Included in property, plant and equipment are $8.7 million of fixed assets that are held-for-sale as of December 31, 2013. | |||||||
Depreciation expense for property, plant and equipment, including amortization of capital leases, totaled $164.6 million, $180.8 million and $162.8 million for 2013, 2012 and 2011, respectively. | ||||||||
As of December 31, 2013 and 2012, total property, plant and equipment included $41.8 million and $79.7 million, respectively, of assets financed under capital leases. Accumulated depreciation associated with these assets is included in total accumulated depreciation in the table above. | ||||||||
Warranty Reserves | ||||||||
The activity related to the Company's warranty reserves for 2011, 2012 and 2013 follows (in millions): | ||||||||
Balance as of December 31, 2010 | $ | 3.3 | ||||||
Provision | 4 | |||||||
Usage | (1.5 | ) | ||||||
Balance as of December 31, 2011 | 5.8 | |||||||
Provision | 8.1 | |||||||
Usage | (3.7 | ) | ||||||
Balance as of December 31, 2012 | 10.2 | |||||||
Provision | 4.4 | |||||||
Usage | (8.6 | ) | ||||||
Balance as of December 31, 2013 | $ | 6 | ||||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Long-term Debt, Unclassified [Abstract] | ' | ||||||||||||
Long-Term Debt | ' | ||||||||||||
Long-Term Debt | |||||||||||||
The Company's long-term debt consists of the following (dollars in millions): | |||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||
Senior Revolving Credit Facility due 2018, interest payable quarterly at 2.00% and 0% respectively | $ | 120 | $ | — | |||||||||
Loan with Japanese bank due 2014 through 2018, interest payable quarterly at 2.00% and 2.06%, respectively (1) | 273.7 | 302 | |||||||||||
2.625% Notes (net of discount of zero and $7.1 million, respectively) (2) | — | 125.5 | |||||||||||
2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) (3) | 335.2 | 274.2 | |||||||||||
1.875% Notes (4) | — | 73.4 | |||||||||||
Loan with Hong Kong bank, interest payable weekly at 1.91% and 1.96%, respectively (6) | 40 | 30 | |||||||||||
Loans with Philippine banks due 2014 through 2015, interest payable monthly and quarterly at an average rate of 2.16% and 1.97%, respectively (8) | 39.2 | 45.8 | |||||||||||
Loan with Chinese bank due 2014, interest payable quarterly at 3.34% and 3.41%, respectively (9) | 7 | 7 | |||||||||||
Loan with Japanese bank due 2013, interest payable monthly at 0.00% and 1.58%, respectively (9) | — | 0.8 | |||||||||||
Loan with Singapore bank, interest payable weekly at 1.94% and 1.95%, respectively (6) | 15 | 15 | |||||||||||
Loan with British finance company, interest payable monthly at 1.57% and 1.51%, respectively (6) | 0.2 | 3.3 | |||||||||||
U.S. real estate mortgages payable monthly through 2016 at an average rate of 4.86% (7) | 28.1 | 29.8 | |||||||||||
U.S. equipment financing payable monthly through 2016 at 2.94% (5) | 9.5 | 14 | |||||||||||
Canada equipment financing payable monthly through 2017 at 3.81% (5) | 5.9 | — | |||||||||||
Canada revolving line of credit, interest payable quarterly at 1.84% (9) | 15 | — | |||||||||||
Capital lease obligations | 53.4 | 91.1 | |||||||||||
Long-term debt, including current maturities | 942.2 | 1,011.90 | |||||||||||
Less: Current maturities | (181.6 | ) | (353.6 | ) | |||||||||
Long-term debt | $ | 760.6 | $ | 658.3 | |||||||||
_______________________ | |||||||||||||
-1 | This loan represents SCI LLC's unsecured loan with SMBC, which is guaranteed by the Company. See additional information below under the heading "Note Payable to SMBC." | ||||||||||||
-2 | The 2.625% Notes were redeemed by the Company on December 20, 2013. | ||||||||||||
-3 | The 2.625% Notes, Series B may be put back to the Company at the option of the holders of the notes on December 15 of 2016 and 2021 or called at the option of the Company on or after December 20, 2016. | ||||||||||||
-4 | The 1.875% Notes were partially redeemed by the Company on December 20, 2012. The balance as of December 31, 2012 for notes submitted for conversion was subject to a 20 consecutive trading-day observation period and was subsequently settled during January 2013. | ||||||||||||
-5 | Debt arrangement secured by equipment. | ||||||||||||
-6 | Debt arrangement secured by accounts receivable. | ||||||||||||
-7 | Debt arrangement secured by real estate. | ||||||||||||
-8 | $15.0 million unsecured and $24.2 million secured by equipment and $7.5 million unsecured and $38.3 million secured by equipment, respectively. | ||||||||||||
-9 | Unsecured debt arrangement. | ||||||||||||
Annual maturities relating to the Company’s long-term debt as of December 31, 2013 are as follows (in millions): | |||||||||||||
Annual | |||||||||||||
Maturities | |||||||||||||
2014 | 181.6 | ||||||||||||
2015 | 74 | ||||||||||||
2016 | 424.9 | ||||||||||||
2017 | 39 | ||||||||||||
2018 | 243.5 | ||||||||||||
Thereafter | 0.9 | ||||||||||||
Total | $ | 963.9 | |||||||||||
For purposes of the table above, the convertible debt is assumed to mature at the first put date. | |||||||||||||
Redemption, Conversion and Retirement of Debt | |||||||||||||
2.625% Notes | |||||||||||||
On December 20, 2013, the Company exercised its option to redeem all of its remaining outstanding 2.625% Notes and paid the gross principal amount of approximately $72.6 million to the holders of the 2.625% Notes to retire the outstanding obligation. | |||||||||||||
1.875% Notes | |||||||||||||
On January 28, 2013, the Company settled the conversion obligation on the outstanding 1.875% Notes by delivering approximately $77.5 million in cash to the holders who tendered their 1.875% Notes for conversion. The excess $4.1 million over the $73.4 million in aggregate outstanding principal amount of the 1.875% Notes was attributable to the conversion feature of the 1.875% Notes and was recorded as a reduction to additional paid-in capital during the year ended December 31, 2013. The settlement of the conversion obligation on January 28, 2013 resulted in the retirement of the obligation under the 1.875% Notes. | |||||||||||||
On December 20, 2012, the Company redeemed approximately $21.6 million of the outstanding aggregate principal amount of the 1.875% Notes at par value plus accrued interest. | |||||||||||||
On December 19, 2012, the holders of approximately $73.4 million in aggregate outstanding principal amount of the 1.875% Notes submitted their 1.875% Notes for conversion at a rate of 142.8571 shares of the Company's common stock per $1,000 principal amount of their 1.875% Notes. The Company elected to satisfy its conversion obligation with respect to each $1,000 principal amount of notes tendered for conversion by delivering cash equal to the sum of the daily settlement amount for each of the 20 consecutive trading days during the observation period for the 1.875% Notes on the settlement date, as provided for in the Indenture. | |||||||||||||
Loss on Debt Repurchase or Exchange | |||||||||||||
As further described below, the Company recognized a net loss of $3.1 million, $7.8 million and $23.2 million for the years ended December 31, 2013, 2012 and 2011, respectively, for the exchange or repurchase of certain of its convertible senior subordinated notes. | |||||||||||||
2013 Exchange | |||||||||||||
On March 22, 2013, the Company closed an exchange offer for $60.0 million in principal value (approximately $57.4 million of carrying value) of its 2.625% Notes in exchange for $58.5 million in principal value of its 2.625% Notes, Series B, plus accrued and unpaid interest on the 2.625% Notes. Subject to certain other terms and conditions, this exchange extended the first put date, which the Company considers to be the earliest maturity date, for the exchanged amount from December 2013 to December 2016. The exchanged amount of the 2.625% Notes, Series B was allocated between the fair value of the liability component and equity component of the convertible security. The amount allocated to the extinguishment of the liability component was based on the discounted cash flows using a rate of return an investor would have required on non-convertible debt with other terms substantially similar to the 2.625% Notes. The remaining consideration was recognized as re-acquisition of the equity component. | |||||||||||||
The difference between the consideration allocated to the liability component and the remaining net carrying amount of the liability and unamortized debt issuance costs was recorded as a loss on debt exchange of $3.1 million, which included the write-off of approximately $0.2 million in unamortized debt issuance costs. The Company also recorded an adjustment to additional paid-in capital of approximately $5.9 million, net of adjustments, relating to the exchange of equity components. | |||||||||||||
2012 Exchange | |||||||||||||
On September 4, 2012, the Company exchanged $99.9 million in par value ($92.8 million of carrying value) of its 2.625% Notes for $99.9 million in par value of 2.625% Notes, Series B and $2.0 million in cash. Subject to certain other terms and conditions, this exchange extended the first put date, which the Company considers to be the earliest maturity date, for the exchanged amount from December 2013 to December 2016. The cash payment and the $99.9 million of the 2.625% Notes, Series B were allocated between the fair value of the liability component and the equity component of the convertible security. The amount allocated to the extinguishment of the liability component was based on the discounted cash flows using a rate of return an investor would have required on non-convertible debt with other terms substantially similar to the 2.625% Notes. The remaining consideration was recognized as re-acquisition of the equity component. | |||||||||||||
The difference between the consideration allocated to the liability component and the rest of the net carrying amount of the liability and unamortized debt issuance costs was recorded as a loss on debt exchange of $7.8 million, which included the write-off of $0.6 million in unamortized debt issuance costs. The Company also recorded an adjustment to additional paid-in capital in the amount of $1.9 million for the re-acquisition of the equity component. | |||||||||||||
2011 Exchange | |||||||||||||
During the year ended December 31, 2011, the Company exchanged $198.6 million in par value ($177.2 million of carrying value) of its 2.625% Notes for $198.6 million in par value ($176.4 million of carrying value) of 2.625% Notes, Series B and $15.9 million in cash. Subject to certain other terms and conditions, this exchange extended the earliest debt maturity date, which the Company considers to be the first put date, for the exchanged amount from December 2013 to December 2016. The cash payment and the $198.6 million of 2.625% Notes, Series B were allocated between the fair value of the liability component and the equity component of the convertible security. The amount allocated to the extinguishment of the liability component was based on the discounted cash flows using a rate of return an investor would have required on non-convertible debt with other terms substantially similar to the 2.625% Notes. The remaining consideration was recognized as re-acquisition of the equity component. | |||||||||||||
The difference between the consideration allocated to the liability component and the rest of the net carrying amount of the liability and unamortized debt issuance costs was recorded as a loss on debt repurchase of $17.9 million, which included the write-off of $1.7 million in unamortized debt issuance costs. The Company also recorded an adjustment to additional paid-in capital in the amount of $21.0 million for the re-acquisition of the equity component. | |||||||||||||
2011 Repurchase | |||||||||||||
During the year ended December 31, 2011, the Company repurchased $53.0 million in par value ($46.6 million of carrying value) of its 2.625% Notes for $56.2 million in cash. The cash payment was allocated between the fair value of the liability component and the equity component of the convertible security. The amount allocated to the extinguishment of the liability component was based on the discounted cash flows using a rate of return an investor would have required on non-convertible debt with other terms substantially similar to the 2.625% Notes. The remaining consideration was recognized as re-acquisition of the equity component. | |||||||||||||
The difference between the consideration allocated to the liability component and the rest of the net carrying amount of the liability and unamortized debt issuance costs was recorded as a loss on debt repurchase of $5.3 million, which included the write-off of $0.5 million in unamortized debt issuance costs. The Company also recorded an adjustment to additional paid-in capital in the amount of $4.8 million for the re-acquistion of the equity component. | |||||||||||||
Note Payable to SMBC | |||||||||||||
In January 2011, SCI LLC, as borrower, and the Company, as guarantor, entered into a seven-year, unsecured loan agreement with SANYO Electric to finance a portion of the purchase price for the Company's acquisition of SANYO Semiconductor and certain related assets in early 2011. The loan had an original principal amount of approximately $377.5 million and had a principal balance of $273.7 million and $302.0 million as of December 31, 2013 and December 31, 2012, respectively. The loan bears interest at a rate of 3-month LIBOR plus 1.75% per annum and provides for quarterly interest and $9.4 million in principal payments, with the unpaid balance of $122.7 million due in January 2018. | |||||||||||||
On January 31, 2013, the Company amended and restated its seven-year unsecured loan obligation with SANYO Electric. In connection with the amendment and restatement of the loan agreement, SANYO Electric assigned all of its rights under the loan agreement to SMBC. | |||||||||||||
Amended and Restated Senior Revolving Credit Facility | |||||||||||||
The Company and its wholly-owned subsidiary, SCI LLC, entered into an $800.0 million, five-year senior revolving credit facility (the “Facility”), the terms of which are set forth in an Amended and Restated Credit Agreement dated as of October 10, 2013 (“Credit Agreement”) among the Company and a group of lenders. The new Credit Agreement amends and restates the Company’s prior credit agreement, dated as of December 23, 2011. The Facility may be used for general corporate purposes including working capital, stock repurchase, and/or acquisitions. The Company recorded $3.2 million of debt issuance costs associated with the Facility. | |||||||||||||
The Facility includes $40.0 million availability for the issuance of letters of credit, $15.0 million availability for swingline loans for short-term borrowings and a foreign currency sublimit of $75.0 million. The Company has the ability to increase the size of the Facility in increments of $10.0 million provided that the aggregate amount of such increases does not exceed $250.0 million. | |||||||||||||
Payments of the principal amounts of revolving loans under the Credit Agreement are due no later than October 10, 2018, which is the maturity date of the Facility. Interest is payable based on either a LIBOR or base rate option, plus an applicable rate that varies based on the total leverage ratio. The Company has also agreed to pay the lenders certain fees, including a commitment fee that varies based on the total leverage ratio. The Company may prepay loans under the Credit Agreement at any time, in whole or in part, upon payment of accrued interest and break funding payments, if applicable. | |||||||||||||
The obligations under the Facility are guaranteed by certain of the Company's domestic subsidiaries and SCI LLC and are secured by a pledge of the equity interests in certain of the Company's and SCI LLC's domestic subsidiaries and material first tier foreign subsidiaries. | |||||||||||||
The Credit Agreement contains affirmative and negative covenants that are customary for credit agreements of this nature. The negative covenants include, among other things, limitations on asset sales, mergers and acquisitions, indebtedness, liens, investments and transactions with affiliates. The Credit Agreement contains only two financial covenants: (i) a maximum total leverage ratio of consolidated total indebtedness to consolidated earnings before interest, taxes, depreciation and amortization and other adjustments described in the Credit Agreement ("consolidated EBITDA") for the trailing four consecutive quarters of 3.75 to 1.00; and (ii) a minimum interest coverage ratio of consolidated EBITDA to consolidated interest expense for the trailing four consecutive quarters of 3.50 to 1.0. | |||||||||||||
The Credit Agreement contains customary events of default that include, among other things, non-payment defaults, inaccuracy of representations and warranties, covenant defaults, cross default to material indebtedness, bankruptcy and insolvency defaults, material judgment defaults, ERISA defaults and a change of control default. The occurrence of an event of default could result in the acceleration of the obligations under the Credit Agreement. The Company was in compliance with the various covenants contained in the Credit Agreement as of December 31, 2013 and expects to remain in compliance with all covenants over at least the next twelve months. | |||||||||||||
During the fourth quarter of 2013, the Company drew $120.0 million, for general corporate purposes, available pursuant to the Facility, which remained outstanding as of December 31, 2013, in addition to a letter of credit in the amount of $0.2 million. Included in other assets as of December 31, 2013 were $4.4 million of debt issuance costs associated with the Facility. | |||||||||||||
In the ordinary course of their respective businesses, certain of the lenders and other parties to the Credit Agreement and their respective affiliates have engaged, and may engage, in commercial banking, investment banking, financial advisory or other services with the Company, SCI LLC, and any of their affiliates for which they have in the past and/or may in the future receive customary compensation and expense reimbursement. | |||||||||||||
Description of 2.625% Notes, Series B | |||||||||||||
As discussed above, the Company completed the following exchange offers for its 2.625% Notes in exchange for its 2.625% Notes, Series B. Subject to certain other terms and conditions, these exchanges extended the debt maturity for the exchanged amounts from December 2013 to December 2016. The 2.625% Notes, Series B bear interest at the rate of 2.625% per year from the date of issuance. Interest is payable on June 15 and December 15 of each year. The 2.625% Notes, Series B are fully and unconditionally guaranteed on an unsecured senior subordinated basis by certain existing domestic subsidiaries of the Company (dollars in millions): | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Exchange date | 22-Mar-13 | 4-Sep-12 | 15-Dec-11 | ||||||||||
Principal value of 2.625% Notes | $ | 60 | $ | 99.9 | $ | 198.6 | |||||||
Principal value of 2.625% Notes, Series B | $ | 58.5 | $ | 99.9 | $ | 198.6 | |||||||
Cash consideration | $ | — | $ | 2 | $ | 15.9 | |||||||
Capitalized exchange expenses (1) | $ | 0.1 | $ | 0.6 | $ | 1.4 | |||||||
Effective interest rate | 4.7 | % | 4.4 | % | 5.25 | % | |||||||
(1) Represents exchange expenses capitalized as debt issuance costs that are amortized using the effective | |||||||||||||
interest method through the first put date of December 15, 2016. | |||||||||||||
The 2.625% Notes, Series B are convertible by holders into cash and shares of the Company's common stock at a conversion rate of 95.2381 shares of common stock per $1,000 principal amount of notes (subject to adjustment in certain events), which was equivalent to an initial conversion price of approximately $10.50 per share of common stock. The Company will settle conversion of all notes validly tendered for conversion in cash and shares of the Company's common stock, if applicable, subject to the Company's right to pay the share amount in additional cash. Holders had the option to convert their 2.625% Notes, Series B under the following circumstances: (i) during the five business-day period immediately following any five consecutive trading-day period in which the trading price per $1,000 principal amount of notes for each day of such period was less than 103% of the product of the closing sale price of the Company's common stock and the conversion rate; (ii) upon occurrence of the specified transactions described in the Indenture relating to the 2.625% Notes, Series B; or (iii) after June 15, 2016. The Company determined that the conversion option based on a trading price condition meets the definition of a derivative, and should be bifurcated from the debt host and accounted for separately. However, the fair value of this feature was determined to be de minimis at the date of issuance and the Company continued to evaluate the significance of this feature on a quarterly basis. | |||||||||||||
The 2.625% Notes, Series B are to mature on December 15, 2026. Beginning December 20, 2016, the Company could redeem the 2.625% Notes, Series B, in whole or in part, for cash at a price of 100% of the principal amount plus accrued and unpaid interest to, but excluding, the redemption date. If a holder elected to convert its 2.625% Notes, Series B in connection with the occurrence of specified fundamental changes that occur prior to December 15, 2016, the holder would have been entitled to receive, in addition to cash and shares of common stock equal to the conversion rate, an additional number of shares of common stock, in each case as described in the Indenture. Notwithstanding these conversion rate adjustments, these 2.625% Notes, Series B contain an explicit limit on the number of shares issuable upon conversion. Holders may require the Company to repurchase the 2.625% Notes, Series B for cash on December 15, 2016 and 2021 at a repurchase price equal to 100% of the principal amount of such 2.625% Notes, Series B, plus accrued and unpaid interest, to, but excluding, the repurchase date. Upon the occurrence of certain corporate events, each holder could have required the Company to purchase all or a portion of such holder's 2.625% Notes, Series B for cash at a price equal to the principal amount of such notes, plus accrued and unpaid interest, to, but excluding, the repurchase date. | |||||||||||||
Included in other assets as of December 31, 2013 were $1.3 million of debt issuance costs associated with the 2.625% Notes, Series B, which will be amortized using the effective interest method through 2016. Included in long-term debt as of December 31, 2013 was $21.7 million of unamortized debt discount associated with the 2.625% Notes, Series B, which will be amortized using the effective interest method through 2016. | |||||||||||||
Canada Revolving Line of Credit | |||||||||||||
On August 30, 2013, one of the Company's wholly-owned Canadian subsidiaries and SCI LLC, as guarantor, entered into an unsecured and uncommitted $15.0 million line of credit (the "Line of Credit"), the terms of which were set forth in an agreement by and between the Company's Canadian subsidiary and a U.S. bank. During the year ended December 31, 2013, the Company's Canadian subsidiary borrowed the full $15.0 million available under the Line of Credit. The borrowing under the Line of Credit bears interest based on an option of 1-month, 2-month, 3-month or 6-month LIBOR plus 1.60% per annum, with interest payable quarterly. The borrowed amount is payable within three business days of demand. | |||||||||||||
Capital Lease Obligations | |||||||||||||
The Company has various capital lease obligations primarily for machinery and equipment, which as of December 31, 2013 totaled $53.4 million, with interest rates ranging from 2.0% to 5.2% and maturities from the first quarter of 2014 until the fourth quarter of 2019. | |||||||||||||
Debt Guarantees | |||||||||||||
ON Semiconductor was the sole issuer of the 1.875% Notes and the 2.625% Notes and is the sole issuer of the 2.625% Notes, Series B (collectively, the “Convertible Notes”). See Note 20: "Guarantor and Non-Guarantor Statements" for the condensed consolidated financial information for the issuer of the Convertible Notes and the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries (as defined in Note 20: "Guarantor and Non-Guarantor Statements") for further information. |
Earnings_Per_Share_and_Equity
Earnings Per Share and Equity | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||
Earnings Per Share and Equity | ' | ||||||||||||
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): | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net income (loss) attributable to ON Semiconductor Corporation | $ | 150.8 | $ | (90.6 | ) | $ | 11.6 | ||||||
Basic weighted average common shares outstanding | 447.9 | 452.6 | 446.7 | ||||||||||
Add: Incremental shares for: | |||||||||||||
Dilutive effect of share-based awards | 2.8 | — | 7.6 | ||||||||||
Dilutive effect of convertible notes | — | — | 2.9 | ||||||||||
Diluted weighted average common shares outstanding | 450.7 | 452.6 | 457.2 | ||||||||||
Net income (loss) per common share attributable to ON Semiconductor Corporation: | |||||||||||||
Basic | $ | 0.34 | $ | (0.20 | ) | $ | 0.03 | ||||||
Diluted | $ | 0.33 | $ | (0.20 | ) | $ | 0.03 | ||||||
Basic income per common share is computed by dividing net income attributable to ON Semiconductor Corporation by the 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 were approximately 12.3 million, 15.7 million and 11.7 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
The dilutive impact related to the Convertible Notes is determined in accordance with the net share settlement requirements prescribed by ASC Topic 260, Earnings Per Share ("ASC 260"). 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 of the Convertible Notes. In periods when the stock 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. See Note 8: "Long-Term Debt" for a discussion of the conversion prices and other features of the Convertible Notes. | |||||||||||||
Equity | |||||||||||||
Share Repurchase Program | |||||||||||||
Information relating to the Company's share repurchase program is as follows (in millions, except per share data): | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Number of repurchased shares (1) | 13.9 | 8.8 | |||||||||||
Aggregate purchase price | $ | 101.3 | $ | 55.3 | |||||||||
Fees, commissions and other expenses | 0.3 | 0.2 | |||||||||||
Less: accrued share repurchases (2) | (0.6 | ) | — | ||||||||||
Total cash used for share repurchases | $ | 101 | $ | 55.5 | |||||||||
Weighted-average purchase price per share | $ | 7.29 | $ | 6.26 | |||||||||
Available for future purchases at period end | $ | 143.4 | $ | 244.7 | |||||||||
(1) None of these shares had been reissued or retired as of December 31, 2013, but may be reissued or retired by | |||||||||||||
the Company at a later date. | |||||||||||||
(2) Represents unpaid amounts recorded in accrued expenses on the Company's Consolidated Balance Sheet. | |||||||||||||
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 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 amounts remitted in the years ended December 31, 2013 and 2012 were $4.5 million and $9.6 million, respectively, for which the Company withheld approximately 0.6 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 December 31, 2013, but 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 its investment in Leshan has been consolidated in the Company's financial statements. | |||||||||||||
At December 31, 2012, the non-controlling interest balance was $29.6 million. This balance was increased to $32.8 million at December 31, 2013 due to the non-controlling interest's $3.2 million share of the earnings for the year ended December 31, 2013. | |||||||||||||
At December 31, 2011, the non-controlling interest balance was $25.3 million. This balance increased to $29.6 million at December 31, 2012 due to the non-controlling interest's $4.3 million share of the earnings for the year ended December 31, 2012. |
ShareBased_Compensation
Share-Based Compensation | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||||||||
Share-Based Compensation | ' | |||||||||||||||||||||
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 years ended December 31, 2013, 2012 and 2011 was comprised as follows (in millions): | ||||||||||||||||||||||
Year Ended December 31, 2013 | Year Ended December 31, 2012 | Year Ended December 31, 2011 | ||||||||||||||||||||
Cost of revenues | $ | 5.3 | $ | 3.7 | $ | 6.3 | ||||||||||||||||
Research and development | 6.3 | 4.5 | 6.9 | |||||||||||||||||||
Selling and marketing | 5.7 | 4.3 | 6.4 | |||||||||||||||||||
General and administrative | 15 | 8 | 13.9 | |||||||||||||||||||
Restructuring | — | — | — | |||||||||||||||||||
Share-based compensation expense before income taxes | 32.3 | 20.5 | 33.5 | |||||||||||||||||||
Related income tax benefits (1) | — | — | — | |||||||||||||||||||
Share-based compensation expense, net of taxes | $ | 32.3 | $ | 20.5 | $ | 33.5 | ||||||||||||||||
____________________ | ||||||||||||||||||||||
-1 | A majority of the Company’s share-based compensation relates to its domestic subsidiaries; therefore, no related deferred income tax benefits are recorded due to historical net operating losses at those subsidiaries. | |||||||||||||||||||||
At December 31, 2013, total unrecognized estimated share-based compensation expense, net of estimated forfeitures, related to non-vested stock options granted prior to that date was $5.5 million, which is expected to be recognized over a weighted-average period of 2.2 years. At December 31, 2013, total 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 $38.4 million. The total intrinsic value of stock options exercised during the year ended December 31, 2013 was $4.3 million. The Company recorded cash received from the exercise of stock options of $12.1 million and cash from the issuance of shares under the ESPP of $8.3 million and no related tax benefits during the year ended December 31, 2013. Upon option exercise, release of restricted stock units, stock grant awards, or completion of a purchase under the ESPP, the Company issues new shares of common stock. | ||||||||||||||||||||||
Share-Based Compensation Information | ||||||||||||||||||||||
The fair value of each option grant is estimated on the date of grant using a lattice-based option valuation model. The lattice-based model uses: (1) a constant volatility; (2) an employee exercise behavior model (based on an analysis of historical exercise behavior); and (3) the treasury yield curve to calculate the fair value of each option grant. | ||||||||||||||||||||||
The weighted-average estimated fair value of employee stock options and the weighted-average assumptions used in the lattice model to calculate the weighted-average estimated fair value of employee stock options granted during the years ended December 31, 2013, 2012 and 2011 are as follows (annualized percentages): | ||||||||||||||||||||||
Year Ended December 31, 2013 | Year Ended December 31, 2012 | Year Ended December 31, 2011 | ||||||||||||||||||||
Volatility | 42.8 | % | 46.9 | % | 52.1 | % | ||||||||||||||||
Risk-free interest rate | 1.4 | % | 0.8 | % | 1.2 | % | ||||||||||||||||
Expected term | 5.2 years | 5.0 years | 4.8 years | |||||||||||||||||||
Weighted-average fair value per option | $ | 2.93 | $ | 3.01 | $ | 3.88 | ||||||||||||||||
The volatility input is developed using blended volatility. The expected term of options represents the period of time that the options are expected to be outstanding and is computed using the lattice model's estimated option fair value as an input to the Black-Scholes formula and solving for expected term. The risk-free rate is based on zero-coupon U.S. Treasury yields in effect at the date of grant with the same period as the expected term. | ||||||||||||||||||||||
Share-based compensation expense recognized in the Consolidated Statement of Operations and Comprehensive Income is based on awards 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. Pre-vesting forfeitures for stock options were estimated to be approximately 11%, 11% and 11% in the years ended December 31, 2013, 2012 and 2011, respectively. Pre-vesting forfeitures for restricted stock units were estimated to be approximately 5%, 4% and 8% in the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||||
Plan Descriptions | ||||||||||||||||||||||
On February 17, 2000, the Company adopted the 2000 Stock Incentive Plan (the "2000 SIP") which provided key employees, directors and consultants with various equity-based incentives as described in the plan document. Prior to February 17, 2010, stockholders had approved amendments to the 2000 SIP which increased the number of shares of the Company's common stock reserved and available for grant to 30.5 million, plus an additional number of shares of the Company's common stock equal to 3% of the total number of outstanding shares of common stock effective automatically on January 1st of each year beginning January 1, 2005 and ending January 1, 2010. On February 17, 2010, the 2000 SIP expired and the Company ceased granting under the plan. Options granted pursuant to the 2000 SIP that remain outstanding continue to be exercisable or subject to vesting pursuant to the underlying option agreements. | ||||||||||||||||||||||
On March 23, 2010, the Company adopted the Amended and Restated SIP, which was subsequently approved by the Company's shareholders at the annual shareholder meeting on May 18, 2010. The Amended and Restated SIP provides key employees, directors and consultants with various equity-based incentives as described in the plan document. The Amended and Restated SIP is administered by the Board of Directors or a committee thereof, which is authorized to determine, among other things, the key employees, directors or consultants who will receive awards under the plan, the amount and type of award, exercise prices or performance criteria, if applicable, and vesting schedules. On May 15, 2012, shareholders approved certain amendments to the Amended and Restated SIP to increase the number of shares of common stock subject to all awards under the Amended and Restated SIP by 33.0 million to 59.1 million, exclusive of shares of common stock subject to awards that were previously granted pursuant to the 2000 SIP that have or will become available for grant pursuant to the Amended and Restated SIP. | ||||||||||||||||||||||
Generally, the options granted under the 2000 SIP and Amended and Restated SIP vest over a period of three to four years and have a term of 10 years and 7 years, respectively. Under both plans, certain outstanding options vest automatically upon a change of control, as defined in the respective plan document, provided the option holder is employed by the Company on the date of the change in control. Certain other outstanding options may also vest upon a change of control if the Board of Directors of the Company, at its discretion, provides for acceleration of the vesting of said options. Upon the termination of an option holder's employment, all unvested options will immediately terminate and vested options will generally remain exercisable for a period of 90 days after the date of termination (one year in the case of death or disability), unless otherwise specified in an option holder's employment or stock option agreement. | ||||||||||||||||||||||
Generally, restricted stock units granted under the 2000 SIP and the Amended and Restated SIP vest over three to four years or based on the achievement of certain performance criteria and are payable in shares of the Company's stock upon vesting. | ||||||||||||||||||||||
As of December 31, 2013, there was an aggregate of 37.4 million shares of common stock available for grant under the Amended and Restated SIP. | ||||||||||||||||||||||
Stock Options | ||||||||||||||||||||||
A summary of stock option transactions for all stock option plans follows (in millions except per share and term data): | ||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||
Number of Shares | Weighted-Average Exercise Price | Weighted Average Remaining Contractual Term (in years) | Aggregate Intrinsic Value | |||||||||||||||||||
Outstanding at December 31, 2012 | 17.2 | $ | 7.7 | |||||||||||||||||||
Granted | 0.1 | 7.39 | ||||||||||||||||||||
Exercised | (2.1 | ) | 5.82 | |||||||||||||||||||
Canceled | (1.2 | ) | 8.67 | |||||||||||||||||||
Outstanding at December 31, 2013 | 14 | $ | 7.89 | 3.4 | $ | 14.8 | ||||||||||||||||
Exercisable at December 31, 2013 | 11.6 | $ | 7.99 | 3.1 | $ | 12.4 | ||||||||||||||||
As of December 31, 2013, the Company had 13.7 million of outstanding stock options, representing stock options that previously vested and those which are expected to vest, with a weighted-average exercise price of $7.91. | ||||||||||||||||||||||
Net stock options, after forfeitures and cancellations, granted during the years ended December 31, 2013 and December 31, 2012 represented (0.24)% and 0.07% of outstanding shares as of the beginning of each such fiscal year, respectively. Total stock options granted during the years ended December 31, 2013 and December 31, 2012 represented 0.03% and 0.62% of outstanding shares as of the end of each such fiscal year, respectively. | ||||||||||||||||||||||
Additional information about stock options outstanding at December 31, 2013 with exercise prices less than or above $8.24 per share, the closing price of the Company's common stock at December 31, 2013, follows (number of shares in millions): | ||||||||||||||||||||||
Exercisable | Unexercisable | Total | ||||||||||||||||||||
Exercise Prices | Number of Shares | Weighted Average Exercise Price | Number of Shares | Weighted Average Exercise Price | Number of Shares | Weighted Average Exercise Price | ||||||||||||||||
Less than $8.24 | 6.2 | $ | 6.23 | 1.6 | $ | 6.75 | 7.8 | $ | 6.33 | |||||||||||||
Above $8.24 | 5.4 | $ | 9.97 | 0.8 | $ | 8.86 | 6.2 | $ | 9.82 | |||||||||||||
Total outstanding | 11.6 | $ | 7.99 | 2.4 | $ | 7.45 | 14 | $ | 7.89 | |||||||||||||
Restricted Stock Units | ||||||||||||||||||||||
During 2013, the Company awarded 1.6 million restricted stock units to certain officers and employees of the Company that vest upon the achievement of certain performance criteria. The number of units expected to vest is evaluated each reporting period and compensation expense is recognized for those units for which achievement of the performance criteria is considered probable. | ||||||||||||||||||||||
Compensation expense of $18.2 million was recognized during 2013 for all restricted stock units with time-based service conditions that were granted in 2013 and prior that are expected to vest. | ||||||||||||||||||||||
A summary of the restricted stock units transactions for the year ended December 31, 2013 follows (number of shares in millions): | ||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||
Number of Shares | Weighted-Average Grant Date Fair Value | |||||||||||||||||||||
Nonvested shares of restricted stock units at December 31, 2012 | 8.9 | $ | 8.75 | |||||||||||||||||||
Granted | 5.3 | 7.91 | ||||||||||||||||||||
Released | (2.3 | ) | 7.83 | |||||||||||||||||||
Canceled | (1.1 | ) | 8.87 | |||||||||||||||||||
Nonvested shares of restricted stock units at December 31, 2013 | 10.8 | $ | 8.52 | |||||||||||||||||||
As of December 31, 2013, unrecognized compensation expense, net of estimated forfeitures related to non-vested restricted stock units granted under the 2000 SIP and Amended and Restated SIP with time-based and performance-based conditions, was $34.2 million and $4.2 million, respectively. For restricted stock units with time-based service conditions, expense is being recognized over the vesting period; for restricted stock units with performance criteria, expense is recognized over the period during which the performance criteria is expected to be achieved. Unrecognized compensation cost related to awards with certain performance criteria that are not expected to be achieved is not included here. Total compensation expense related to both performance-based and service-based restricted stock units was $25.0 million for the year ended December 31, 2013. | ||||||||||||||||||||||
Stock Grant Awards | ||||||||||||||||||||||
During the year ended December 31, 2013, the Company granted 0.2 million shares of stock under stock grant awards to certain directors of the Company with immediate vesting at a weighted-average grant date fair value of $8.49 per share. Total compensation expense related to stock grant awards for the year ended December 31, 2013 was approximately $1.4 million. | ||||||||||||||||||||||
Employee Stock Purchase Plan | ||||||||||||||||||||||
On February 17, 2000, the Company adopted the ESPP. Subject to local legal requirements, each of the Company's eligible employees may elect to contribute up to 10% of eligible payroll applied towards the purchase of shares of the Company's common stock at a price equal to 85% of the fair market value of such shares as determined under the plan. Employees are limited to annual purchases of $25,000 under this plan. In addition, during each quarterly offering period, employees may not purchase stock exceeding the lesser of (i) 500 shares, or (ii) the number of shares equal to $6,250 divided by the fair market value of the stock on the first day of the offering period. During the year ended December 31, 2013, employees purchased approximately 1.3 million shares under the ESPP. During the years ended December 31, 2012 and 2011, employees purchased for each such year approximately 1.4 million and 1.2 million shares, respectively, under the ESPP. Through May 2009, shareholders had approved amendments to the ESPP, which have increased the number of shares of the Company's common stock issuable thereunder to 15.0 million shares. On May 15, 2013, shareholders approved certain amendments to the Company's ESPP which increased the number of shares reserved and available to be issued pursuant to the ESPP by 3.0 million to a total of 18.0 million. As of December 31, 2013, there were 4.3 million shares available for issuance under the ESPP. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | ||||||||||||||||
Employee Benefit Plans | ' | ||||||||||||||||
Employee Benefit Plans | |||||||||||||||||
Defined Benefit Plans | |||||||||||||||||
The Company maintains defined benefit plans for employees of certain of its foreign subsidiaries. Such plans conform to local practice in terms of providing minimum benefits mandated by law, collective agreements or customary practice. 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. The Company's expected long-term rate of return on plan assets is updated at least annually, taking into consideration its asset allocation, historical returns on similar types of assets and the current economic environment. For estimation purposes, the Company assumes its long-term asset mix will generally be consistent with the current mix. The Company determines its discount rates using highly rated corporate bond yields and government bond yields. | |||||||||||||||||
Benefits under all of the Company's plans are valued utilizing the projected unit credit cost method. The Company's policy is to fund its defined benefit plans in accordance with local requirements and regulations. The funding is primarily driven by the Company's current assessment of the economic environment and projected benefit payments of its foreign subsidiaries. The Company's measurement date for determining its defined benefit obligations for all plans is December 31 of each year. | |||||||||||||||||
The Company recognizes actuarial gains and losses in the period the Company's annual pension plan actuarial valuations are prepared which generally occurs during the fourth quarter of each year, or during any interim period where a revaluation is deemed necessary. | |||||||||||||||||
2013 Activity and Effect of Voluntary Retirement Programs | |||||||||||||||||
The Q1 2013 Voluntary Retirement Program for certain employees of the System Solutions Group triggered the re-measurement of the related pension assets and liabilities, resulting in an actuarial loss of $13.6 million for the year ended December 31, 2013. Additionally, the Company recorded a curtailment gain of $12.7 million, for the year ended December 31, 2013, in Restructuring, Asset Impairments and Other, net. | |||||||||||||||||
The Q4 2013 Voluntary Retirement Program resulted in an actuarial gain of $7.4 million for the year ended December 31, 2013. Additionally, the Company recorded a curtailment gain of $2.9 million, for the year ended December 31, 2013, in Restructuring, Asset Impairments and Other, net. | |||||||||||||||||
See Note 6: "Restructuring, Asset Impairments and Other, net" for additional information. | |||||||||||||||||
2012 Activity | |||||||||||||||||
During the year ended December 31, 2012, the Company completed the withdrawal from three multi-employer pension plans in which certain of its System Solutions Group subsidiaries participated. As a result of the withdrawal, defined benefit plans established by the Company assumed approximately $214.5 million of pension benefit obligations and received $83.6 million of plan assets. The net unfunded pension obligation of $130.9 million approximated the withdrawal liability previously established by the Company. The Company recognized expense of $10.7 million and $16.4 million during the years ended December 31, 2012 and 2011, respectively, relating to its participation in these plans through their respective withdrawal dates. The activity for these plans prior to their withdrawal dates is not included in the tables below. | |||||||||||||||||
During the year-ended December 31, 2012, the Company modified a defined benefit plan which resulted in a freezing of accumulated benefits and the ceased accrual of benefits from future service for all plan participants. Furthermore, the Company initiated a defined contribution plan covering employees impacted by the plan modification and designated $7.5 million on behalf of participants in the defined contribution plan. | |||||||||||||||||
The following is a summary of the status of the Company's foreign defined benefit pension plans and the net periodic pension cost (dollars in millions): | |||||||||||||||||
Year Ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Service cost | $ | 12.2 | $ | 7.5 | $ | 9.4 | |||||||||||
Interest cost | 6.6 | 5.3 | 5.2 | ||||||||||||||
Expected return on plan assets | (4.1 | ) | (3.5 | ) | (4.0 | ) | |||||||||||
Amortization of prior service cost | — | 0.1 | 2.6 | ||||||||||||||
Curtailment (gain) loss | (15.6 | ) | (6.6 | ) | 2 | ||||||||||||
Actuarial and other loss (gain) | 6.2 | 12.5 | (3.1 | ) | |||||||||||||
Total net periodic pension cost | $ | 5.3 | $ | 15.3 | $ | 12.1 | |||||||||||
Weighted average assumptions | |||||||||||||||||
Discount rate | 2.14 | % | 2.44 | % | 3.5 | % | |||||||||||
Expected return on plan assets | 2.18 | % | 3.21 | % | 4.07 | % | |||||||||||
Rate of compensation increase | 3.17 | % | 3.05 | % | 4.66 | % | |||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Change in projected benefit obligation | |||||||||||||||||
Projected benefit obligation at the beginning of the year | $ | 379.8 | $ | 176.4 | |||||||||||||
Benefit obligation assumed upon withdrawal from Systems Solutions Group multi-employer plans | — | 214.5 | |||||||||||||||
Service cost | 12.2 | 7.5 | |||||||||||||||
Interest cost | 6.6 | 5.3 | |||||||||||||||
Net actuarial loss | 14.3 | 13.9 | |||||||||||||||
Benefits paid by plan assets | (22.3 | ) | (13.3 | ) | |||||||||||||
Benefits paid by the Company | (32.1 | ) | (11.4 | ) | |||||||||||||
Curtailment gain | (15.6 | ) | (6.6 | ) | |||||||||||||
Translation gain and other | (50.6 | ) | (6.5 | ) | |||||||||||||
Projected benefit obligation at the end of the year | $ | 292.3 | $ | 379.8 | |||||||||||||
Accumulated benefit obligation at the end of the year | $ | 254.9 | $ | 281.2 | |||||||||||||
Change in plan assets | |||||||||||||||||
Fair value of plan assets at the beginning of the year | $ | 178.4 | $ | 105.5 | |||||||||||||
Assets assumed due to withdrawal from multi-employer plans | — | 83.6 | |||||||||||||||
Transfer to defined contribution plan | — | (7.5 | ) | ||||||||||||||
Actual return on plan assets | 12.2 | 5.4 | |||||||||||||||
Benefits paid from plan assets | (22.3 | ) | (13.3 | ) | |||||||||||||
Employer contributions | 16.2 | 6.6 | |||||||||||||||
Translation and other loss | (21.1 | ) | (1.9 | ) | |||||||||||||
Fair value of plan assets at the end of the year | $ | 163.4 | $ | 178.4 | |||||||||||||
Plans with underfunded or non-funded accumulated benefit obligation | |||||||||||||||||
Aggregate accumulated benefit obligation | $ | 220.7 | $ | 248.8 | |||||||||||||
Aggregate fair value of plan assets | $ | 116.2 | $ | 124.8 | |||||||||||||
Amounts recognized in the balance sheet consist of | |||||||||||||||||
Non-current assets | $ | 0.6 | $ | 0.2 | |||||||||||||
Current liabilities | (10.4 | ) | (7.4 | ) | |||||||||||||
Non-current liabilities | (119.1 | ) | (194.2 | ) | |||||||||||||
Funded status | $ | (128.9 | ) | $ | (201.4 | ) | |||||||||||
Amounts recognized in accumulated other comprehensive income consist of | |||||||||||||||||
Prior service cost | $ | — | $ | 0.1 | |||||||||||||
Weighted average assumptions at the end of the year | |||||||||||||||||
Discount rate | 2.14 | % | 2.44 | % | |||||||||||||
Rate of compensation increase | 3.17 | % | 3.05 | % | |||||||||||||
As of December 31, 2013 and 2012, respectively, the assets of the Company's foreign plans were invested 18% and 0% in equity securities, 23% and 3% in debt securities, including corporate bonds, 46% and 25% in insurance and investment contracts, 4% and 62% in cash and 9% and 10% in other investments, including foreign government securities, equity securities and mutual funds. This asset allocation is based on the anticipated required funding amounts, timing of benefit payments, historical returns on similar assets and the influence of the current economic environment. | |||||||||||||||||
The long term rate of return on plan assets was determined using the weighted-average method, which incorporates factors that include the historical inflation, interest rate yield curve and current market conditions. | |||||||||||||||||
Plan Assets | |||||||||||||||||
The Company's overall investment strategy is to focus on stable and low credit risk investments aimed at providing a positive rate of return to the plan assets. The Company has an investment mix with a wide diversification of asset types and fund strategies that are aligned with each region and foreign location's economy and market conditions. Investments in government securities are generally guaranteed by the respective government offering the securities. Investments in corporate bonds, equity securities, and foreign mutual funds are made with the expectation that these investments shall give an adequate rate of long-term returns despite periods of high volatility. Other types of investments include investments in cash deposits, money market funds and insurance contracts. The Company invested certain of these holdings in a broader mix of assets during 2013. | |||||||||||||||||
The fair value measurement of plan assets in the Company's foreign pension plans as of December 31, 2013 and 2012, was as follows (in millions): | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Total | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||||
Asset Category | |||||||||||||||||
Cash/Money Markets | $ | 7.5 | $ | 7.5 | $ | — | $ | — | |||||||||
Foreign Government/Treasury Securities (1) | 8.7 | 7.8 | 0.9 | — | |||||||||||||
Corporate Bonds, Debentures (2) | 36.8 | 17.9 | 18 | 0.9 | |||||||||||||
Equity Securities (3) | 29.4 | 19.9 | 9.5 | — | |||||||||||||
Mutual Funds | 5.8 | — | 5.8 | — | |||||||||||||
Investment and Insurance Annuity Contracts (4) | 75.2 | — | 27.3 | 47.9 | |||||||||||||
$ | 163.4 | $ | 53.1 | $ | 61.5 | $ | 48.8 | ||||||||||
December 31, 2012 | |||||||||||||||||
Total | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||||
Asset Category | |||||||||||||||||
Cash/Money Markets | $ | 111.4 | $ | 111.4 | $ | — | $ | — | |||||||||
Foreign Government/Treasury Securities (1) | 12.6 | 9 | 3.6 | — | |||||||||||||
Corporate Bonds, Debentures (2) | 4.4 | 0.4 | 0.7 | 3.3 | |||||||||||||
Mutual Funds | 4.6 | — | 4.6 | — | |||||||||||||
Investment and Insurance Annuity Contracts (4) | 45.4 | — | 0.7 | 44.7 | |||||||||||||
$ | 178.4 | $ | 120.8 | $ | 9.6 | $ | 48 | ||||||||||
-1 | Includes investments primarily in guaranteed return securities. | ||||||||||||||||
-2 | Includes investments in government bonds and corporate bonds of developed countries, emerging market government bonds, emerging market corporate bonds and convertible bonds. | ||||||||||||||||
-3 | Includes investments in equity securities of developed countries and emerging markets. | ||||||||||||||||
-4 | Includes certain investments with insurance companies which guarantee a minimum rate of return on the investment. | ||||||||||||||||
When available, the Company uses observable market data, including pricing on recent closed market transactions and quoted prices, which are included in Level 2. When data is unobservable, valuation methodologies using comparable market data are utilized and included in Level 3. Activity during the year ended December 31, 2013 for plan assets with fair value measurement using significant unobservable inputs (Level 3) was as follows (in millions): | |||||||||||||||||
Corporate Bonds, Debentures | Investment and Insurance Contacts | Total | |||||||||||||||
Balance at December 31, 2011 | $ | 4.1 | $ | 1 | $ | 5.1 | |||||||||||
Purchase, sales and settlements | (1.2 | ) | (0.3 | ) | (1.5 | ) | |||||||||||
Transfers in and/or out of Level 3 | 0.4 | 44 | 44.4 | ||||||||||||||
Balance at December 31, 2012 | $ | 3.3 | $ | 44.7 | $ | 48 | |||||||||||
Actual return on plan assets | — | 3.5 | 3.5 | ||||||||||||||
Purchase, sales and settlements | (2.4 | ) | (0.3 | ) | (2.7 | ) | |||||||||||
Balance at December 31, 2013 | $ | 0.9 | $ | 47.9 | $ | 48.8 | |||||||||||
The expected benefit payments for the Company's defined benefit plans by year from 2014 through 2018 and the five years thereafter are as follows (in millions): | |||||||||||||||||
2014 | $ | 44.4 | |||||||||||||||
2015 | 2.3 | ||||||||||||||||
2016 | 2.3 | ||||||||||||||||
2017 | 2.6 | ||||||||||||||||
2018 | 3.5 | ||||||||||||||||
5 years thereafter | 46.9 | ||||||||||||||||
Total | $ | 102 | |||||||||||||||
The total underfunded status was $128.9 million at December 31, 2013. The Company expects to contribute $14.8 million during 2014 to its foreign defined benefit plans in addition to $25.9 million of expected benefit payments. | |||||||||||||||||
Defined Contribution Plans | |||||||||||||||||
The Company has a deferred compensation savings plan for all eligible U.S. employees established under the provisions of Section 401(k) of the Internal Revenue Code. Eligible employees may contribute a percentage of their salary subject to certain limitations. The Company has elected to have a matching contribution of 100% of the first 4% of employee contributions. The Company recognized $8.4 million, $8.3 million and $8.7 million of expense relating to matching contributions in 2013, 2012 and 2011, respectively. | |||||||||||||||||
Certain foreign subsidiaries have defined contribution plans in which eligible employees participate. The Company recognized compensation expense of $4.1 million, $3.4 million and $2.0 million relating to these plans for the years ended 2013, 2012 and 2011, respectively. |
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Commitments And Contingencies | ' | |||
Commitments and Contingencies | ||||
Leases | ||||
The following is a schedule by year of future minimum lease obligations under non-cancelable operating leases as of December 31, 2013 (in millions): | ||||
Year Ending December 31, | ||||
2014 | $ | 18.4 | ||
2015 | 13.9 | |||
2016 | 10.8 | |||
2017 | 8.7 | |||
2018 | 13.6 | |||
Thereafter | 26 | |||
Total | $ | 91.4 | ||
The Company's existing leases do not contain significant restrictive provisions; however, certain leases contain renewal options and provisions for payment by the Company of real estate taxes, insurance and maintenance costs. Total rent expense associated with operating leases for 2013, 2012, and 2011 was $22.0 million, $24.0 million, and $27.7 million, respectively. | ||||
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. 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. Based on the information available, any costs to the Company in connection with this matter have not been, and 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. Based on the information available, any costs to the Company in connection with this matter have not been, and are not expected to be, material. | ||||
The Company's former 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. Based on information available, any costs to the Company in connection with this matter have not been, and are not expected to be, material. | ||||
Financing Contingencies | ||||
In the normal 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, purchase commitments, agreements to mitigate collection risk, leases, utilities or customs guarantees. The Company's senior revolving credit facility includes $40.0 million of availability for the issuance of letters of credit. A $0.2 million letter of credit was outstanding under the senior revolving credit facility as of December 31, 2013. The Company also had outstanding guarantees and letters of credit outside of its senior revolving credit facility totaling $5.8 million as of December 31, 2013. | ||||
As part of securing financing in the normal course of business, the Company issued guarantees related to its receivables financing, certain capital lease obligations, equipment financing, lines of credit and real estate mortgages, which totaled approximately $77.1 million as of December 31, 2013. The Company is also a guarantor of SCI LLC's unsecured loan with SMBC, which had a balance of $273.7 million as of December 31, 2013. See Note 8: "Long-Term Debt" for further information with respect to the Company's loan with SMBC. | ||||
Based on historical experience and information currently available, the Company believes that in the foreseeable future it will not be required to make payments under the standby letters of credit or guarantee arrangements. | ||||
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 agreements, certificates of incorporation, by-laws, articles of association or similar organizational documents, as the case may be. The Company maintains directors’ and officers’ insurance, which should enable it to recover a portion of any future amounts paid. | ||||
In addition to the above, from time to time the Company provides standard representations and warranties to counterparties in contracts in connection with sales of its securities and the engagement of financial advisers and also provides indemnities that protect the counterparties to these contracts in the event they suffer damages as a result of a breach of such representations and warranties or in certain other circumstances relating to the sale of securities or their engagement by the Company. | ||||
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 | ||||
The Company is currently involved in a variety of legal matters that arise in the normal course of business. Based on information currently available, management does not believe that the ultimate resolution of these matters, including the matters described or referred to in the previous paragraphs will have a material effect on the Company's financial condition, results of operations or cash flows. However, because of the nature and inherent uncertainties of litigation, should the outcome of these actions be unfavorable, the Company's business, consolidated financial position, results of operations or cash flows could be materially and adversely affected. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract] | ' | ||||||||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||||||||||
The following table summarizes the Company's financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 and December 31, 2012 (in millions): | |||||||||||||||||||||||||
Description | Balance as of December 31, 2013 | Quoted Prices in | Balance as of December 31, 2012 | Quoted Prices in | |||||||||||||||||||||
Active Markets (Level 1) | Active Markets (Level 1) | ||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Cash and cash equivalents: | |||||||||||||||||||||||||
Demand and time deposits | $ | 447.5 | $ | 447.5 | $ | 385.9 | $ | 385.9 | |||||||||||||||||
Money market funds | 62 | 62 | — | — | |||||||||||||||||||||
Treasury securities | — | — | 100.7 | 100.7 | |||||||||||||||||||||
Corporate bonds | — | — | 0.3 | 0.3 | |||||||||||||||||||||
Other Current Assets: | |||||||||||||||||||||||||
Foreign currency exchange contracts | $ | — | $ | — | $ | 3.2 | $ | 3.2 | |||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Foreign currency exchange contracts | $ | 0.1 | $ | 0.1 | $ | — | $ | — | |||||||||||||||||
Short-term investments have an original maturity to the Company between three months and one year, are classified as held-to-maturity and are carried at amortized cost as the Company has the intent to hold these securities until maturity. Short-term investments classified as held-to-maturity as of the years ended December 31, 2013 and 2012, respectively, were as follows (in millions): | |||||||||||||||||||||||||
Balance at December 31, 2013 | Balance at December 31, 2012 | ||||||||||||||||||||||||
Carried at Amortized Cost | Unrealized Gain/(Loss) | Fair Value | Carried at Amortized Cost | Unrealized Gain/(Loss) | Fair Value | ||||||||||||||||||||
Short-term investments-held-to-maturity: | |||||||||||||||||||||||||
Commercial paper | $ | 15.5 | $ | — | $ | 15.5 | $ | 25.5 | $ | — | $ | 25.5 | |||||||||||||
Corporate bonds | 93.7 | — | 93.7 | 119.3 | (0.1 | ) | 119.2 | ||||||||||||||||||
Government agencies | 7 | — | 7 | — | — | — | |||||||||||||||||||
$ | 116.2 | $ | — | $ | 116.2 | $ | 144.8 | $ | (0.1 | ) | $ | 144.7 | |||||||||||||
The Company’s financial assets are valued using market prices on active markets (Level 1). The Company's short-term investments balance of $116.2 million as of December 31, 2013 is classified as held-to-maturity and is carried at amortized cost. There were no unrealized gains or losses on these short-term investments as of December 31, 2013. | |||||||||||||||||||||||||
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) at December 31, 2013 and December 31, 2012 are as follows (in millions): | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Carrying Amount | Fair Value | Carrying | Fair Value | ||||||||||||||||||||||
Amount | |||||||||||||||||||||||||
Long-term debt, including current portion | |||||||||||||||||||||||||
Convertible Notes | $ | 335.2 | $ | 392.6 | $ | 473.1 | $ | 530.9 | |||||||||||||||||
Long-term debt | $ | 510.2 | $ | 511.4 | $ | 403.9 | $ | 380.6 | |||||||||||||||||
The fair value of the Company's Convertible Notes was estimated based on market prices on 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) at December 31, 2013 and December 31, 2012. | |||||||||||||||||||||||||
Fair Values Measured on a Non-Recurring Basis | |||||||||||||||||||||||||
Our non-financial assets, such as property, plant and equipment, goodwill and intangible assets are recorded at fair value upon acquisition and are remeasured at fair value only if an impairment charge is recognized. The Company uses unobservable inputs to the valuation methodologies that were significant to the fair value measurements, and the valuations required management judgment due to the absence of quoted market prices. We determine the fair value of our held and used assets, goodwill and intangible assets using an income, cost or market approach as determined reasonable. See Note 5: "Goodwill and Intangible Assets" for a discussion of certain assets impairments. | |||||||||||||||||||||||||
The following table shows the fair value of certain of the Company's non-financial assets included in its Consolidated Balance Sheet as of December 31, 2013 and December 31, 2012 that were remeasured at fair value on a nonrecurring basis (in millions): | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||
Nonrecurring fair value measurements | |||||||||||||||||||||||||
Property, plant and equipment (Level 3) | $ | 8.7 | $ | 134.1 | |||||||||||||||||||||
Intangible assets (Level 3) | — | 8.2 | |||||||||||||||||||||||
$ | 8.7 | $ | 142.3 | ||||||||||||||||||||||
The following table shows the adjustments to fair value of certain of the Company's non-financial assets that had an impact on the Company's results of operations during the years ended December 31, 2013 and December 31, 2012 (in millions): | |||||||||||||||||||||||||
Year Ended | |||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||
Nonrecurring fair value measurements | |||||||||||||||||||||||||
Impairment of property, plant and equipment held for use or disposal (Level 3) | $ | 8 | $ | 103 | |||||||||||||||||||||
Goodwill impairment (Level 3) | — | 14.1 | |||||||||||||||||||||||
Intangible asset impairments (level 3) | — | 35.4 | |||||||||||||||||||||||
$ | 8 | $ | 152.5 | ||||||||||||||||||||||
During the fourth quarter of 2012, the Company evaluated the recoverability of the long-lived assets of the System Solutions Group due to the continued declines in revenue and operating performance. The Company revised its long-term projections related to its System Solutions Group, including material additional cost reduction efforts and a lower revenue base than previously assumed. As a result, the Company recorded an impairment charge of $126.0 million which was comprised of a $94.4 million charge to reduce the carrying value of the associated fixed assets and a $31.6 million charge to reduce the carrying value of the associated intangible assets to their respective fair values. Additionally, the Company recognized a goodwill impairment charge of $14.1 million relating to one of its reporting units during the year ended December 31, 2012. See Note 3: "Goodwill and Intangibles Assets" for additional information. |
Financial_Instruments
Financial Instruments | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Investments, All Other Investments [Abstract] | ' | ||||||||||||||||
Financial Instruments | ' | ||||||||||||||||
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. | |||||||||||||||||
At December 31, 2013 and 2012, the Company had net outstanding foreign exchange contracts with a net notional amounts of $101.7 million and $197.3 million, respectively. Such contracts were obtained through financial institutions and were scheduled to mature within one to three months. 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 schedule shows the Company's net foreign exchange positions in U.S. dollars as of December 31, 2013 and 2012 (in millions): | |||||||||||||||||
December 31, | |||||||||||||||||
2013 Buy (Sell) | 2013 Notional Amount | 2012 Buy (Sell) | 2012 Notional Amount | ||||||||||||||
Euro | $ | (30.5 | ) | $ | 30.5 | $ | (17.4 | ) | $ | 17.4 | |||||||
Japanese Yen | (6.7 | ) | 6.7 | (123.3 | ) | 123.3 | |||||||||||
Malaysian Ringgit | 35.8 | 35.8 | 32.7 | 32.7 | |||||||||||||
Philippine Peso | 11.7 | 11.7 | 4.2 | 4.2 | |||||||||||||
Other currencies | 10.6 | 17 | (1.5 | ) | 19.7 | ||||||||||||
$ | 20.9 | $ | 101.7 | $ | (105.3 | ) | $ | 197.3 | |||||||||
The Company is exposed to credit-related losses if counterparties to its foreign exchange contracts fail to perform their obligations. As of December 31, 2013, the counterparties to the Company's foreign exchange contracts are highly rated financial institutions 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 years ended December 31, 2013, 2012 and 2011, realized and unrealized foreign currency transaction gains totaled $5.5 million, $3.5 million and a loss $8.9 million, respectively. | |||||||||||||||||
As of December 31, 2013 and December 31, 2012, the Company had balances for contracts not designated as hedging instruments of zero and $2.4 million, respectively, which were classified as other assets. As of December 31, 2013 and December 31, 2012, the Company had $0.1 million and zero liability balances, respectively, for these contracts classified as other liabilities. | |||||||||||||||||
Cash Flow Hedges | |||||||||||||||||
The Company is exposed to global market risks associated with fluctuations in interest rates and foreign currency exchange rates. The Company addresses these risks through controlled management that includes the use of derivative financial instruments to economically hedge or reduce these exposures. The Company does not enter into derivative financial instruments for trading or speculative purposes. | |||||||||||||||||
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. All the contracts mature within 12 months and upon maturity, the amount recorded in accumulated other comprehensive income is reclassified into earnings. The Company documents all relationships between designated hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking hedge transactions. | |||||||||||||||||
All derivatives are recognized on the balance sheet at their fair value and classified based on the instrument's maturity date. The total notional amount of outstanding derivatives designated as cash flow hedges as of December 31, 2013 was approximately $42.9 million, which is primarily comprised of cash flow hedges for Malaysian Ringgit/U.S. Dollar and Philippine Peso/U.S. Dollar currency pairs. | |||||||||||||||||
For the year ended December 31, 2013, the Company recorded a loss of $2.6 million in other comprehensive income associated with the Company's cash flow hedges. As of December 31, 2013, the Company had a $1.8 million liability balance for contracts designated as cash flow hedging instruments which were classified as other liabilities. For the year ended December 31, 2012, the Company had no liability balances for contracts designated as cash flow hedges. As of December 31, 2013 and 2012, the Company had asset balances for contracts designated as cash flow hedging instruments of zero and $0.8 million, respectively, which were classified as other assets. | |||||||||||||||||
Other | |||||||||||||||||
At December 31, 2013, the Company had no outstanding commodity derivatives, currency swaps or options relating to either its debt instruments or investments. The Company does not hedge the value of its equity investments in its subsidiaries or affiliated companies. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
The Company's geographic sources of income (loss) before income taxes and non-controlling interest are as follows (in millions): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
United States | $ | (76.8 | ) | $ | (72.0 | ) | $ | (143.9 | ) | |||
Foreign | 257.7 | (0.9 | ) | 181.7 | ||||||||
$ | 180.9 | $ | (72.9 | ) | $ | 37.8 | ||||||
The Company's provision for income taxes is as follows (in millions): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | (0.4 | ) | $ | 0.2 | $ | 0.5 | |||||
State and local | 0.3 | (0.1 | ) | 0.3 | ||||||||
Foreign | 15.9 | 16.4 | 25 | |||||||||
15.8 | 16.5 | 25.8 | ||||||||||
Deferred: | ||||||||||||
Federal | 13.2 | — | — | |||||||||
Foreign | (2.1 | ) | (3.1 | ) | (2.9 | ) | ||||||
11.1 | (3.1 | ) | (2.9 | ) | ||||||||
$ | 26.9 | $ | 13.4 | $ | 22.9 | |||||||
A reconciliation of the U.S. federal statutory income tax rate to the Company's effective income tax rate is as follows: | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
U.S. federal statutory rate | 35 | % | 35 | % | 35 | % | ||||||
Increase (decrease) resulting from: | ||||||||||||
State and local taxes, net of federal tax benefit | 0.2 | 0.1 | 0.7 | |||||||||
Foreign withholding taxes | — | (0.3 | ) | 0.1 | ||||||||
Foreign rate differential | (38.5 | ) | 10.4 | (588.0 | ) | |||||||
Dividend income from foreign subsidiaries | 10.6 | (62.7 | ) | 146.1 | ||||||||
Goodwill impairment | — | (6.8 | ) | — | ||||||||
Gain on SANYO Semiconductor Transaction | — | — | (22.5 | ) | ||||||||
Change in valuation allowance | 8.2 | (1.6 | ) | 491.5 | ||||||||
Tax reserves | (0.9 | ) | (2.3 | ) | 0.8 | |||||||
Return to accrual | (0.1 | ) | 12.3 | — | ||||||||
Other | 0.4 | (2.5 | ) | (3.1 | ) | |||||||
14.9 | % | (18.4 | ) | % | 60.6 | % | ||||||
Included in the Company's results for the fourth quarter of the year ended December 31, 2013, is the impact of a prior period error of approximately $10.7 million related to the Company's conclusion that certain deferred tax liabilities may not be netted against deferred tax assets prior to determining the required valuation allowance. The error was first corrected by separating the indefinite deferred tax liability from net deferred tax assets by recording a $10.7 million increase in long-term deferred tax assets and a corresponding increase in long-term deferred tax liabilities (included within Other Long-Term Liabilities) on the Company's Consolidated Balance Sheet as of December 31, 2013. The increase in deferred tax assets caused an increase in the valuation allowance of $10.7 million and a corresponding increase in the provision for income taxes on the Company's Consolidated Statement of Operations and Comprehensive Income for the year then ended. The Company believes that this error is not material to the consolidated financial statements of any prior interim or annual periods and that the correction of the error is not material to the Company's 2013 consolidated financial statements. | ||||||||||||
The tax effects of temporary differences in the recognition of income and expense for tax and financial reporting purposes that give rise to significant portions of the deferred tax assets, net of deferred tax liabilities as of December 31, 2013 and December 31, 2012, are as follows (in millions): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Net operating loss and tax credit carryforwards | $ | 1,023.90 | $ | 952 | ||||||||
Tax-deductible goodwill and amortizable intangibles | (7.7 | ) | 18.2 | |||||||||
Reserves and accruals | 82.5 | 98.8 | ||||||||||
Property, plant and equipment | 81.4 | 147.2 | ||||||||||
Inventories | 28.1 | 83.8 | ||||||||||
Other | 105.2 | 116 | ||||||||||
Deferred tax assets and liabilities before valuation allowance | 1,313.40 | 1,416.00 | ||||||||||
Valuation allowance | (1,327.2 | ) | (1,420.1 | ) | ||||||||
Net deferred tax asset (liability) | $ | (13.8 | ) | $ | (4.1 | ) | ||||||
A valuation allowance has been recorded against the Company's deferred tax assets, with the exception of deferred tax assets at certain foreign subsidiaries, as management cannot conclude that it is more likely than not that these assets will be realized. As of December 31, 2013, the Company's deferred tax assets do not include $194.0 million of excess tax deductions from employee stock option exercises that are part of net operating loss carryforwards, which, if realized, will be accounted for as an addition to equity. | ||||||||||||
As of December 31, 2013, the Company's federal, state, and foreign net operating loss carryforwards ("NOLs") were $1,043.7 million, $1,110.5 million, and $1,718.9 million, respectively. If not utilized, these NOLs will expire in varying amounts from 2014 through 2033. Pursuant to Sections 382 and 383 of the Internal Revenue Code, the utilization of NOLs and other tax attributes may be subject to substantial limitations if certain ownership changes occur during a three-year testing period (as defined by the Internal Revenue Code). During 2006, such an ownership change occurred, limiting the use of federal NOLs to approximately $93.1 million per year. | ||||||||||||
The 2013 provision of $26.9 million included $22.2 million for income and withholding taxes of certain of the Company's foreign operations, $0.9 million of interest on existing reserves for potential liabilities in foreign taxing jurisdictions and $13.2 million of deferred federal income taxes associated with tax deductible goodwill. This is partially offset by the reversal of $6.0 million of valuation allowances against deferred tax assets of certain foreign subsidiaries and the reversal of $3.4 million for reserves and interest for potential liabilities in foreign taxing jurisdictions which were effectively settled or for which the statute lapsed during 2013. | ||||||||||||
The 2012 provision of $13.4 million included $21.7 million for income and withholding taxes of certain of the Company's foreign operations and $0.9 million of interest on existing reserves for potential liabilities in foreign taxing jurisdictions. This is partially offset by $7.8 million of additional tax benefit recorded and the reversal of $1.4 million for reserves and interest for potential liabilities in foreign taxing jurisdictions which were effectively settled or for which the statute lapsed during 2012. | ||||||||||||
The 2011 provision of $22.9 million included $19.4 million for income and withholding taxes of certain of the Company's foreign operations, $3.2 million of additional valuation allowance against certain deferred tax assets and $2.9 million of interest on existing reserves for potential liabilities in foreign taxing jurisdictions. This was partially offset by the reversal of $2.6 million for reserves and interest for potential liabilities in foreign taxing jurisdiction, which were effectively settled, or for which the statute lapsed during 2011. | ||||||||||||
Income taxes have not been provided on approximately $1,378.5 million of the undistributed earnings of our foreign subsidiaries over which the Company has sufficient influence to control the distribution at December 31, 2013. The Company has determined that substantially all such earnings have been reinvested indefinitely. These earnings could become subject to either or both federal income tax and foreign withholding tax if they are remitted as dividends, if foreign earnings are loaned to any of our domestic companies, or if the Company sells its investment in certain subsidiaries. The Company estimates that repatriation of these foreign earnings would generate additional foreign withholding taxes of approximately $10.3 million, U.S. federal income taxes of approximately $31.9 million and state income taxes of approximately $3.0 million, each after net operating loss carryforwards and foreign tax credits. | ||||||||||||
The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2010. | ||||||||||||
The Company maintains liabilities for uncertain tax positions. These liabilities involve considerable judgment and estimation and are continuously monitored by management based on the best information available, including changes in tax regulations, the outcome of relevant court cases, and other information. The Company is currently under examination by various taxing authorities. Although the outcome of any tax audit is uncertain, the Company believes that it has adequately provided in its consolidated financial statements for any additional taxes that the Company may be required to pay as a result of such examinations. If the payment ultimately proves not to be necessary, the reversal of these tax liabilities would result in tax benefits being recognized in the period the Company determines such liabilities are no longer necessary. However, if an ultimate tax assessment exceeds the Company's estimate of tax liabilities, additional tax expense will be recorded. The impact of such adjustments could have a material impact on the Company's results of operations in future periods. | ||||||||||||
The activity for unrecognized gross tax benefits for 2013, 2012, and 2011 (in millions) is as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Balance at beginning of year | $ | 34.8 | $ | 18.6 | $ | 13.4 | ||||||
Reserves acquired | — | — | 1.3 | |||||||||
Additions based on tax positions related to the current year | 0.7 | 18.4 | 5.5 | |||||||||
Additions for tax positions of prior years | — | — | 0.8 | |||||||||
Reductions for tax positions of prior years | (10.9 | ) | (0.8 | ) | (1.4 | ) | ||||||
Lapse of statute | (3.7 | ) | (1.2 | ) | (1.0 | ) | ||||||
Settlements | — | (0.2 | ) | — | ||||||||
Balance at end of year | $ | 20.9 | $ | 34.8 | $ | 18.6 | ||||||
Included in the December 31, 2013 balance of $20.9 million is $13.7 million related to unrecognized tax positions that, if recognized, would affect the annual effective tax rate. Of the total $20.9 million balance of unrecognized tax benefit at December 31, 2013, $1.7 million is related to tax positions for which it is reasonably possible that the total amounts could significantly change during the 12 months following December 31, 2013, as a result of expiring statutes of limitations. | ||||||||||||
The Company recognizes interest and penalties accrued in relation to unrecognized tax benefits in tax expense. The Company recognized approximately $0.5 million of expenses during the year ended December 31, 2013, and recognized approximately $0.2 million of expenses, and $0.1 million in benefits during the years ended December 31, 2012 and 2011, respectively. The Company had approximately $3.6 million, $3.0 million, and $2.9 million of accrued interest and penalties at December 31, 2013, 2012, and 2011, respectively. |
Changes_in_Accumulated_Other_C
Changes in Accumulated Other Comprehensive Loss | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||
Changes in Accumulated Other Comprehensive Loss | ' | ||||||||||||||||||||
Changes in Accumulated Other Comprehensive Loss | |||||||||||||||||||||
Amounts comprising the Company's accumulated other comprehensive loss and reclassifications for the year ended December 31, 2013 are as follows (net of tax of $0, in millions): | |||||||||||||||||||||
Foreign Currency Translation Adjustments | Defined Benefit Pension Items | Effects of Cash Flow Hedges | Unrealized Gains and Losses on Available-for-Sale Securities | Total | |||||||||||||||||
Balance as of December 31, 2012 | $ | (42.2 | ) | $ | (0.1 | ) | $ | 0.8 | $ | 0.4 | $ | (41.1 | ) | ||||||||
Other comprehensive income (loss) prior to reclassifications | 17.2 | 0.1 | (0.1 | ) | — | 17.2 | |||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | (21.0 | ) | — | (2.5 | ) | — | (23.5 | ) | |||||||||||||
Net current period other comprehensive loss | (3.8 | ) | 0.1 | (2.6 | ) | — | (6.3 | ) | |||||||||||||
Balance as of December 31, 2013 | $ | (46.0 | ) | $ | — | $ | (1.8 | ) | $ | 0.4 | $ | (47.4 | ) | ||||||||
Included in accumulated other comprehensive loss as of December 31, 2012 is approximately $21.0 million relating to cumulative foreign currency translation gains associated with the Company's subsidiary that owned its former Aizu facility, which utilized the Japanese Yen as its functional currency. As further described in Note 6: "Restructuring, Asset Impairments and Other, net," the Company closed its Aizu facility during the first quarter of 2013. The liquidation of the Company's subsidiary that owned its Aizu facility was substantially completed during the first quarter of 2013; therefore, the Company reclassified the associated cumulative foreign currency translation adjustments in its Consolidated Statements of Operations and Comprehensive Income. | |||||||||||||||||||||
Amounts which were reclassified from accumulated other comprehensive loss to the Company's Consolidated Statements of Operations and Comprehensive Income during the year ended December 31, 2013 were as follows (net of tax of $0, in millions): | |||||||||||||||||||||
Amounts Reclassified from Accumulated Other Comprehensive Loss | Affected Line Item Where Net Income is Presented | ||||||||||||||||||||
Foreign currency translation adjustments | $ | (21.0 | ) | Restructuring, asset impairments and other, net | |||||||||||||||||
Effects of cash flow hedges | (2.5 | ) | Other income and expense | ||||||||||||||||||
Total reclassifications | $ | (23.5 | ) | ||||||||||||||||||
Supplemental_Disclosures
Supplemental Disclosures | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||||||
Supplemental Disclosures | ' | ||||||||||||
Supplemental Disclosures | |||||||||||||
Supplemental Disclosure of Cash Flow Information | |||||||||||||
The Company's non-cash financing activities and cash payments for interest and income taxes during the years ended December 31, 2013, 2012 and 2011 are as follows (in millions): | |||||||||||||
Year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Non-cash financing activities: | |||||||||||||
Capital expenditures in accounts payable | $ | 55.8 | $ | 54.4 | $ | 58.8 | |||||||
Equipment acquired or refinanced through capital leases | 3.8 | 31 | 24.9 | ||||||||||
Cash (received) paid for: | |||||||||||||
Interest income | $ | (1.3 | ) | $ | (1.5 | ) | $ | (1.1 | ) | ||||
Interest expense | 24.8 | 30.4 | 31.8 | ||||||||||
Income taxes | 12.9 | 17.6 | 20.4 | ||||||||||
Supplemental Disclosure of Insurance Recoveries | |||||||||||||
Business Interruption | |||||||||||||
During the year ended December 31, 2013, the Company recognized income of approximately $13.5 million pursuant to a business interruption insurance claim associated with damages caused by the 2011 Thailand flood. The Company has recorded these proceeds as a reduction to cost of revenues in its Consolidated Statements of Operations and Comprehensive Income. | |||||||||||||
During the year ended December 31, 2012, the Company recognized income from business interruption insurance proceeds of approximately $16.4 million associated with the 2011 Japan earthquake. The Company has recorded these proceeds as a reduction to cost of revenues in its Consolidated Statements of Operations and Comprehensive Income. | |||||||||||||
Other Insurance Recoveries | |||||||||||||
During the years ended December 31, 2012 and December 31, 2011, the Company received proceeds from insurance recoveries on property, plant and equipment of approximately $11.5 million and $13.3 million, respectively, associated with the 2011 Thailand flood and 2011 Japan earthquake. The Company has recorded these proceeds as a reduction to cost of revenues in its Consolidated Statements of Operations and Comprehensive Income. During the year ended December 31, 2011, the Company recognized income from insurance proceeds of approximately $23.9 million which were not related to insurance recoveries on property, plant and equipment. |
Segment_Information
Segment Information | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | ||||||||||||||||
Segment Information | ' | ||||||||||||||||
Segment Information | |||||||||||||||||
As of December 31, 2013, the Company was organized into three operating segments, which also represent its three reporting segments: Application Products Group, Standard Products Group and System Solutions Group. Each of the Company's major product lines has been examined and each product line has been assigned to a segment, as illustrated in the table below, based on the Company's operating strategy. Because many products are sold into different end-markets, the total revenue 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 revenue 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. | |||||||||||||||||
Application Products Group | Standard Products Group | System Solutions Group | |||||||||||||||
Automotive ASSPs | Bipolar Power | Power MOSFETs | |||||||||||||||
Analog Automotive | Thyristor | IGBTs | |||||||||||||||
Automotive Power Switching | Small Signal | Power and Signal Discretes | |||||||||||||||
Automotive Mixed-Signal solutions | Zener | Intelligent Power Modules | |||||||||||||||
Medical ASICs & ASSPs | Protection | Motor Driver ICs | |||||||||||||||
Linear Light Sensors | Rectifier | Display Drivers | |||||||||||||||
CMOS Image Sensors | Filters | ASICs | |||||||||||||||
Mixed Signal ASICs | MOSFETs | Microcontrollers | |||||||||||||||
Industrial ASSPs | Signal & Interface | Flash Memory | |||||||||||||||
High Frequency / Timing | Standard Logic | Touch Sensor | |||||||||||||||
IPDs | LDO's & VREGs | Power Supply IC | |||||||||||||||
Foundry and Manufacturing Services | EE Memory and Programmable Analog | Audio DSP | |||||||||||||||
Hearing Components | IGBTs | Audio Tuners | |||||||||||||||
DC-DC Conversion | Image Stabilizer ICs | ||||||||||||||||
Analog Switches | Auto Focus ICs | ||||||||||||||||
AC-DC Conversion | |||||||||||||||||
Low Voltage Power Management | |||||||||||||||||
Power Switching | |||||||||||||||||
RF Antenna Tuning Solutions | |||||||||||||||||
The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company evaluates performance based on income or loss from operations before interest, nonrecurring gains and losses, foreign exchange gains and losses, income taxes, restructuring, asset impairments and other, net, goodwill impairment and certain other unallocated manufacturing and operating expenses. | |||||||||||||||||
The Company's wafer manufacturing facilities fabricate ICs for all business units as necessary and their operating costs are reflected in the segments' cost of revenues on the basis of product costs. Because operating segments are generally defined by the products they design and sell, they do not make sales to each other. The Company does not discretely allocate assets to its operating segments, nor does management evaluate operating segments using discrete asset information. | |||||||||||||||||
In addition to the operating and reporting segments mentioned above, the Company also operates global operations, sales and marketing, information systems, finance and administration groups that are led by vice presidents who report to the Chief Executive Officer. A portion of the expenses of these groups are allocated to the segments based on specific and general criteria and are included in the operating results reported below. The Company does not allocate income taxes or interest expense to its operating segments as the operating segments are principally evaluated on operating profit before interest and taxes. Additionally, restructuring, asset impairments and other, net and certain other manufacturing and operating expenses, which include corporate research and development costs, unallocated inventory reserves and miscellaneous nonrecurring expenses, are not allocated to any segment. | |||||||||||||||||
Revenues, gross profit and operating income for the Company’s reportable segments for the years ended December 31, 2013, December 31, 2012 and December 31, 2011, respectively, are as follows (in millions): | |||||||||||||||||
Application Products Group | Standard | System Solutions Group | Total | ||||||||||||||
Products | |||||||||||||||||
Group | |||||||||||||||||
For year ended December 31, 2013: | |||||||||||||||||
Revenues from external customers | $ | 1,036.30 | $ | 1,121.20 | $ | 625.2 | $ | 2,782.70 | |||||||||
Segment gross profit | 455.6 | 390.7 | 103.4 | 949.7 | |||||||||||||
Segment operating income (loss) | 110.6 | 228.2 | (66.3 | ) | 272.5 | ||||||||||||
For year ended December 31, 2012: | |||||||||||||||||
Revenues from external customers | $ | 1,019.20 | $ | 1,104.70 | $ | 771 | $ | 2,894.90 | |||||||||
Segment gross profit | 459.2 | 400.9 | 143.1 | 1,003.20 | |||||||||||||
Segment operating income (loss) | 111.2 | 240 | (91.8 | ) | 259.4 | ||||||||||||
For year ended December 31, 2011: | |||||||||||||||||
Revenues from external customers | $ | 1,145.50 | $ | 1,236.50 | $ | 1,060.30 | $ | 3,442.30 | |||||||||
Segment gross profit | 549 | 435.7 | 79.1 | 1,063.80 | |||||||||||||
Segment operating income (loss) | 190.8 | 254.6 | (159.4 | ) | 286 | ||||||||||||
Depreciation and amortization expense is included in segment operating income. Reconciliations of segment gross profit and segment operating income to the financial statements are as follows (in millions): | |||||||||||||||||
Year Ended | |||||||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2011 | |||||||||||||||
Gross profit for reportable segments | $ | 949.7 | $ | 1,003.20 | $ | 1,063.80 | |||||||||||
Unallocated amounts: | |||||||||||||||||
Other unallocated manufacturing costs | (11.3 | ) | (51.3 | ) | (55.0 | ) | |||||||||||
Gross profit | $ | 938.4 | $ | 951.9 | $ | 1,008.80 | |||||||||||
Operating income for reportable segments | $ | 272.5 | $ | 259.4 | $ | 286 | |||||||||||
Unallocated amounts: | |||||||||||||||||
Restructuring and other charges | (33.2 | ) | (165.3 | ) | (102.7 | ) | |||||||||||
Goodwill and intangible impairment | — | (49.5 | ) | — | |||||||||||||
Other unallocated manufacturing costs | (11.3 | ) | (51.3 | ) | (55.0 | ) | |||||||||||
Other unallocated operating expenses | (9.8 | ) | (9.6 | ) | (14.9 | ) | |||||||||||
Operating income (loss) | $ | 218.2 | $ | (16.3 | ) | $ | 113.4 | ||||||||||
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. See Note 7: "Balance Sheet Information" for additional information. | |||||||||||||||||
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 operating 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): | |||||||||||||||||
Year Ended | |||||||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2011 | |||||||||||||||
United States | $ | 415.4 | $ | 452 | $ | 524 | |||||||||||
United Kingdom | 400.2 | 388.3 | 424.7 | ||||||||||||||
China | 862.4 | 874.2 | 1,053.80 | ||||||||||||||
Japan | 290.2 | 401.2 | 494.8 | ||||||||||||||
Singapore | 700.6 | 627.7 | 683.3 | ||||||||||||||
Other | 113.9 | 151.5 | 261.7 | ||||||||||||||
$ | 2,782.70 | $ | 2,894.90 | $ | 3,442.30 | ||||||||||||
Property, plant and equipment, net by geographic location, are summarized as follows (in millions): | |||||||||||||||||
December 31, | December 31, | December 31, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
United States | $ | 255.3 | $ | 274.7 | $ | 257.5 | |||||||||||
Czech Republic | 111.1 | 118 | 91.6 | ||||||||||||||
Malaysia | 213.9 | 185 | 164.5 | ||||||||||||||
Philippines | 173.8 | 188.8 | 204 | ||||||||||||||
Japan | 61.3 | 78.9 | 130.2 | ||||||||||||||
Other | 258.8 | 257.9 | 261.7 | ||||||||||||||
$ | 1,074.20 | $ | 1,103.30 | $ | 1,109.50 | ||||||||||||
For the years ended December 31, 2013, December 31, 2012, and December 31, 2011, there were no individual customers, including distributors, which accounted for more than 10% of the Company’s total consolidated revenues. |
Supplementary_Financial_Inform
Supplementary Financial Information - Selected Quarterly Financial Data (Unaudited) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
Supplementary Financial Information - Selected Quarterly Financial Data (Unaudited) | ' | |||||||||||||||
Supplementary Financial Information - Selected Quarterly Financial Data (Unaudited) | ||||||||||||||||
Consolidated quarterly financial information for 2013 and 2012 follows (in millions, except per share data): | ||||||||||||||||
Quarter ended 2013 | ||||||||||||||||
29-Mar | 28-Jun | 27-Sep | 31-Dec | |||||||||||||
Revenues | $ | 661 | $ | 688.3 | $ | 715.4 | $ | 718 | ||||||||
Gross Profit | 204.5 | 231.8 | 249.2 | 252.9 | ||||||||||||
Net income attributable to ON Semiconductor Corporation (1) | 22.6 | 47.7 | 51.8 | 28.7 | ||||||||||||
Diluted net income per common share attributable to ON Semiconductor Corporation | 0.05 | 0.11 | 0.11 | 0.06 | ||||||||||||
Quarter ended 2012 | ||||||||||||||||
30-Mar | 29-Jun | 28-Sep | 31-Dec | |||||||||||||
Revenues | $ | 744.4 | $ | 744.8 | $ | 725.5 | $ | 680.2 | ||||||||
Gross Profit | 245.2 | 258.3 | 238 | 210.4 | ||||||||||||
Net income (loss) attributable to ON Semiconductor Corporation | 28.2 | 6.9 | 12.5 | (138.2 | ) | |||||||||||
Diluted net income (loss) per common share attributable to ON Semiconductor Corporation | 0.06 | 0.02 | 0.03 | (0.31 | ) | |||||||||||
(1) Net income (loss) attributable to ON Semiconductor Corporation for the quarters ended December 31, 2013 and December 31, 2012 includes Restructuring, Asset Impairment and Other, net charges of $22.1 million and $108.0 million respectively. See Note 6: "Restructuring, Asset Impairments and Other, net" and Note 13: "Fair Value Measurements" for additional information. |
Guarantor_And_NonGuarantor_Sta
Guarantor And Non-Guarantor Statements | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Guarantor And Non-Guarantor Statements [Abstract] | ' | |||||||||||||||||||||||
Guarantor And Non-Guarantor Statements | ' | |||||||||||||||||||||||
Guarantor and Non-Guarantor Statements | ||||||||||||||||||||||||
ON Semiconductor is the sole issuer of the Convertible Notes. ON Semiconductor’s 100% owned domestic subsidiaries, except those domestic subsidiaries acquired through the acquisitions of AMIS, Catalyst, PulseCore, CMD, SDT, and SANYO Semiconductor (collectively, the “Guarantor Subsidiaries”), fully and unconditionally guarantee, subject to customary releases, on a joint and several basis ON Semiconductor’s obligations under the Convertible Notes. The Guarantor Subsidiaries include SCI LLC, Semiconductor Components Industries of Rhode Island, Inc., as well as other holding companies whose net assets consist primarily of investments in the joint venture in Leshan, China and equity interests in the Company’s other foreign subsidiaries. ON Semiconductor’s other remaining subsidiaries (collectively, the “Non-Guarantor Subsidiaries”) are not guarantors of the Convertible Notes. The repayment of the unsecured Convertible Notes is subordinated to the senior indebtedness of ON Semiconductor and the Guarantor Subsidiaries on the terms described in the indentures for such Convertible Notes. | ||||||||||||||||||||||||
Condensed consolidating financial information for the issuer of the Convertible Notes, the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries is as follows (in millions): | ||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | ||||||||||||||||||||||||
AS OF DECEMBER 31, 2013 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuer | Guarantor | |||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 267.9 | $ | — | $ | 241.6 | $ | — | $ | 509.5 | ||||||||||||
Short-term investments | — | 116.2 | — | — | — | 116.2 | ||||||||||||||||||
Receivables, net | — | 49.8 | — | 333.6 | — | 383.4 | ||||||||||||||||||
Inventories | — | 46.7 | — | 562.1 | 3 | 611.8 | ||||||||||||||||||
Short-term intercompany receivables | — | — | 4.1 | 7.6 | (11.7 | ) | — | |||||||||||||||||
Other current assets | — | 17.8 | — | 71.5 | — | 89.3 | ||||||||||||||||||
Total current assets | — | 498.4 | 4.1 | 1,216.40 | (8.7 | ) | 1,710.20 | |||||||||||||||||
Property, plant and equipment, net | — | 252.3 | 3.1 | 820.6 | (1.8 | ) | 1,074.20 | |||||||||||||||||
Goodwill | — | 111.5 | 37.3 | 35.8 | — | 184.6 | ||||||||||||||||||
Intangible assets, net | — | 113 | — | 132.2 | (21.8 | ) | 223.4 | |||||||||||||||||
Long-term intercompany receivables | — | — | — | 3.3 | (3.3 | ) | — | |||||||||||||||||
Other assets | 1,790.20 | 1,600.60 | 136.1 | 837.3 | (4,299.6 | ) | 64.6 | |||||||||||||||||
Total assets | $ | 1,790.20 | $ | 2,575.80 | $ | 180.6 | $ | 3,045.60 | $ | (4,335.2 | ) | $ | 3,257.00 | |||||||||||
Accounts payable | $ | — | $ | 39.1 | $ | 0.5 | $ | 237.2 | $ | — | $ | 276.8 | ||||||||||||
Accrued expenses | 1 | 50.8 | 0.2 | 168.3 | — | 220.3 | ||||||||||||||||||
Deferred income on sales to distributors | — | 32.3 | — | 108.2 | — | 140.5 | ||||||||||||||||||
Current portion of long-term debt | — | 79.3 | — | 102.3 | — | 181.6 | ||||||||||||||||||
Short-term intercompany payables | — | 11.7 | — | — | (11.7 | ) | — | |||||||||||||||||
Total current liabilities | 1 | 213.2 | 0.7 | 616 | (11.7 | ) | 819.2 | |||||||||||||||||
Long-term debt | 335.2 | 396.1 | — | 29.3 | — | 760.6 | ||||||||||||||||||
Other long-term liabilities | — | 42.2 | 0.1 | 148.1 | — | 190.4 | ||||||||||||||||||
Long-term intercompany payables | — | 3.3 | — | — | (3.3 | ) | — | |||||||||||||||||
Total liabilities | 336.2 | 654.8 | 0.8 | 793.4 | (15.0 | ) | 1,770.20 | |||||||||||||||||
Common stock | 5.2 | 0.3 | 50.9 | 201.6 | (252.8 | ) | 5.2 | |||||||||||||||||
Additional paid-in capital | 3,210.80 | 2,335.10 | 259.8 | 1,402.60 | (3,997.5 | ) | 3,210.80 | |||||||||||||||||
Accumulated other comprehensive loss | (47.4 | ) | (49.2 | ) | — | (38.6 | ) | 87.8 | (47.4 | ) | ||||||||||||||
Accumulated deficit | (1,142.1 | ) | (365.2 | ) | (130.9 | ) | 686.6 | (190.5 | ) | (1,142.1 | ) | |||||||||||||
Less: treasury stock, at cost | (572.5 | ) | — | — | — | — | (572.5 | ) | ||||||||||||||||
Total ON Semiconductor Corporation stockholders’ equity | 1,454.00 | 1,921.00 | 179.8 | 2,252.20 | (4,353.0 | ) | 1,454.00 | |||||||||||||||||
Non-controlling interest in consolidated subsidiary | — | — | — | — | 32.8 | 32.8 | ||||||||||||||||||
Total equity | 1,454.00 | 1,921.00 | 179.8 | 2,252.20 | (4,320.2 | ) | 1,486.80 | |||||||||||||||||
Total liabilities and equity | $ | 1,790.20 | $ | 2,575.80 | $ | 180.6 | $ | 3,045.60 | $ | (4,335.2 | ) | $ | 3,257.00 | |||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | ||||||||||||||||||||||||
AS OF DECEMBER 31, 2012 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuer | Guarantor | |||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 212.1 | $ | — | $ | 274.8 | $ | — | $ | 486.9 | ||||||||||||
Short-term investments | — | 144.8 | — | — | — | 144.8 | ||||||||||||||||||
Receivables, net | — | 45.4 | — | 312.4 | — | 357.8 | ||||||||||||||||||
Inventories | — | 34.5 | — | 578.4 | (31.2 | ) | 581.7 | |||||||||||||||||
Short-term intercompany receivables | — | — | 3.3 | 17.2 | (20.5 | ) | — | |||||||||||||||||
Other current assets | — | 12.9 | — | 109.3 | — | 122.2 | ||||||||||||||||||
Total current assets | — | 449.7 | 3.3 | 1,292.10 | (51.7 | ) | 1,693.40 | |||||||||||||||||
Property, plant and equipment, net | — | 272 | 2.8 | 830.9 | (2.4 | ) | 1,103.30 | |||||||||||||||||
Goodwill | — | 111.7 | 37.2 | 35.7 | — | 184.6 | ||||||||||||||||||
Intangible assets, net | — | 128.2 | — | 154.7 | (25.9 | ) | 257 | |||||||||||||||||
Long-term intercompany receivables | — | 166.3 | — | — | (166.3 | ) | — | |||||||||||||||||
Other assets | 1,834.60 | 1,431.50 | 129.5 | 846.2 | (4,151.7 | ) | 90.1 | |||||||||||||||||
Total assets | $ | 1,834.60 | $ | 2,559.40 | $ | 172.8 | $ | 3,159.60 | $ | (4,398.0 | ) | $ | 3,328.40 | |||||||||||
Accounts payable | $ | — | $ | 24.1 | $ | — | $ | 255.4 | $ | — | $ | 279.5 | ||||||||||||
Accrued expenses | 0.5 | 53 | 0.9 | 177.8 | 24.5 | 256.7 | ||||||||||||||||||
Deferred income on sales to distributors | — | 34.2 | — | 100.3 | — | 134.5 | ||||||||||||||||||
Current portion of long-term debt | 198.9 | 80.2 | 0.1 | 74.4 | — | 353.6 | ||||||||||||||||||
Short-term intercompany payables | — | 20.4 | — | 0.1 | (20.5 | ) | — | |||||||||||||||||
Total current liabilities | 199.4 | 211.9 | 1 | 608 | 4 | 1,024.30 | ||||||||||||||||||
Long-term debt | 274.1 | 344.1 | — | 40.1 | — | 658.3 | ||||||||||||||||||
Other long-term liabilities | — | 29.9 | 0.3 | 224.9 | — | 255.1 | ||||||||||||||||||
Long-term intercompany payables | — | — | — | 166.3 | (166.3 | ) | — | |||||||||||||||||
Total liabilities | 473.5 | 585.9 | 1.3 | 1,039.30 | (162.3 | ) | 1,937.70 | |||||||||||||||||
Common stock | 5.1 | 0.3 | 50.9 | 201.6 | (252.8 | ) | 5.1 | |||||||||||||||||
Additional paid-in capital | 3,156.40 | 2,549.30 | 259.2 | 1,402.90 | (4,211.4 | ) | 3,156.40 | |||||||||||||||||
Accumulated other comprehensive loss | (41.1 | ) | (41.0 | ) | — | (34.6 | ) | 75.6 | (41.1 | ) | ||||||||||||||
Accumulated deficit | (1,292.9 | ) | (535.1 | ) | (138.6 | ) | 550.4 | 123.3 | (1,292.9 | ) | ||||||||||||||
Less: treasury stock, at cost | (466.4 | ) | — | — | — | — | (466.4 | ) | ||||||||||||||||
Total ON Semiconductor Corporation stockholders’ equity | 1,361.10 | 1,973.50 | 171.5 | 2,120.30 | (4,265.3 | ) | 1,361.10 | |||||||||||||||||
Non-controlling interest in consolidated subsidiary | — | — | — | — | 29.6 | 29.6 | ||||||||||||||||||
Total equity | 1,361.10 | 1,973.50 | 171.5 | 2,120.30 | (4,235.7 | ) | 1,390.70 | |||||||||||||||||
Total liabilities and equity | $ | 1,834.60 | $ | 2,559.40 | $ | 172.8 | $ | 3,159.60 | $ | (4,398.0 | ) | $ | 3,328.40 | |||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | ||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2013 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuer | Guarantor | |||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Revenues | $ | — | $ | 684.2 | $ | 13.8 | $ | 4,142.30 | $ | (2,057.6 | ) | $ | 2,782.70 | |||||||||||
Cost of revenues | — | 516.4 | 0.6 | 3,419.10 | (2,091.8 | ) | 1,844.30 | |||||||||||||||||
Gross profit | — | 167.8 | 13.2 | 723.2 | 34.2 | 938.4 | ||||||||||||||||||
Operating expenses: | ||||||||||||||||||||||||
Research and development | — | 77.2 | 10.9 | 246.1 | — | 334.2 | ||||||||||||||||||
Selling and marketing | — | 71.4 | 0.7 | 99.1 | — | 171.2 | ||||||||||||||||||
General and administrative | — | 32.6 | 0.8 | 115.1 | — | 148.5 | ||||||||||||||||||
Amortization of acquisition-related intangible assets | — | 15.2 | — | 22.1 | (4.2 | ) | 33.1 | |||||||||||||||||
Restructuring, asset impairments and other, net | — | 1.2 | — | 32 | — | 33.2 | ||||||||||||||||||
Total operating expenses | — | 197.6 | 12.4 | 514.4 | (4.2 | ) | 720.2 | |||||||||||||||||
Operating income (loss) | — | (29.8 | ) | 0.8 | 208.8 | 38.4 | 218.2 | |||||||||||||||||
Other income (expenses), net: | ||||||||||||||||||||||||
Interest expense | (23.0 | ) | (10.5 | ) | — | (5.1 | ) | — | (38.6 | ) | ||||||||||||||
Interest income | — | 0.4 | — | 0.9 | — | 1.3 | ||||||||||||||||||
Other | — | (11.5 | ) | — | 14.6 | — | 3.1 | |||||||||||||||||
Loss on debt repurchase or exchange | (3.1 | ) | — | — | — | — | (3.1 | ) | ||||||||||||||||
Equity in earnings | 176.9 | 232.6 | 7.4 | — | (416.9 | ) | — | |||||||||||||||||
Other income (expenses), net | 150.8 | 211 | 7.4 | 10.4 | (416.9 | ) | (37.3 | ) | ||||||||||||||||
Income before income taxes | 150.8 | 181.2 | 8.2 | 219.2 | (378.5 | ) | 180.9 | |||||||||||||||||
Income tax provision | — | (11.4 | ) | — | (15.5 | ) | — | (26.9 | ) | |||||||||||||||
Net income | 150.8 | 169.8 | 8.2 | 203.7 | (378.5 | ) | 154 | |||||||||||||||||
Net income attributable to non-controlling interest | — | — | — | — | (3.2 | ) | (3.2 | ) | ||||||||||||||||
Net income attributable to ON Semiconductor Corporation | $ | 150.8 | $ | 169.8 | $ | 8.2 | $ | 203.7 | $ | (381.7 | ) | $ | 150.8 | |||||||||||
Comprehensive income attributed to ON Semiconductor Corporation | $ | 144.5 | $ | 161.4 | $ | 8.2 | $ | 200.1 | $ | (369.7 | ) | $ | 144.5 | |||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | ||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2012 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuers | Guarantor | |||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Revenues | $ | — | $ | 732.2 | $ | 12.9 | $ | 3,760.90 | $ | (1,611.1 | ) | $ | 2,894.90 | |||||||||||
Cost of revenues | — | 468.1 | 0.6 | 3,052.30 | (1,578.0 | ) | 1,943.00 | |||||||||||||||||
Gross profit | — | 264.1 | 12.3 | 708.6 | (33.1 | ) | 951.9 | |||||||||||||||||
Operating expenses: | ||||||||||||||||||||||||
Research and development | — | 180.3 | 10.3 | 176.9 | — | 367.5 | ||||||||||||||||||
Selling and marketing | — | 68.2 | 0.8 | 111.9 | — | 180.9 | ||||||||||||||||||
General and administrative | — | 5 | 0.6 | 155 | — | 160.6 | ||||||||||||||||||
Amortization of acquisition related intangible assets | — | 18.1 | — | 30.5 | (4.2 | ) | 44.4 | |||||||||||||||||
Restructuring, asset impairments and other, net | — | 3.3 | 0.1 | 161.9 | — | 165.3 | ||||||||||||||||||
Goodwill and intangible asset impairment | — | 20.1 | — | 29.4 | — | 49.5 | ||||||||||||||||||
Total operating expenses | — | 295 | 11.8 | 665.6 | (4.2 | ) | 968.2 | |||||||||||||||||
Operating income (loss) | — | (30.9 | ) | 0.5 | 43 | (28.9 | ) | (16.3 | ) | |||||||||||||||
Other income (expenses), net: | ||||||||||||||||||||||||
Interest expense | (38.0 | ) | (9.0 | ) | — | (9.1 | ) | — | (56.1 | ) | ||||||||||||||
Interest income | — | 0.8 | — | 0.7 | — | 1.5 | ||||||||||||||||||
Other | — | 11.7 | — | (5.9 | ) | — | 5.8 | |||||||||||||||||
Loss on debt repurchase or exchange | (7.8 | ) | — | — | — | — | (7.8 | ) | ||||||||||||||||
Equity in earnings | (44.8 | ) | (25.6 | ) | 10 | — | 60.4 | — | ||||||||||||||||
Other income (expenses), net | (90.6 | ) | (22.1 | ) | 10 | (14.3 | ) | 60.4 | (56.6 | ) | ||||||||||||||
Income (loss) before income taxes | (90.6 | ) | (53.0 | ) | 10.5 | 28.7 | 31.5 | (72.9 | ) | |||||||||||||||
Income tax provision | — | (1.8 | ) | — | (11.6 | ) | — | (13.4 | ) | |||||||||||||||
Net income (loss) | (90.6 | ) | (54.8 | ) | 10.5 | 17.1 | 31.5 | (86.3 | ) | |||||||||||||||
Net income attributable to non-controlling interest | — | — | — | — | (4.3 | ) | (4.3 | ) | ||||||||||||||||
Net income (loss) attributable to ON Semiconductor Corporation | $ | (90.6 | ) | $ | (54.8 | ) | $ | 10.5 | $ | 17.1 | $ | 27.2 | $ | (90.6 | ) | |||||||||
Comprehensive income (loss) attributed to ON Semiconductor Corporation | $ | (85.0 | ) | $ | (49.2 | ) | $ | 10.5 | $ | 21.4 | $ | 17.3 | $ | (85.0 | ) | |||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | ||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2011 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuers | Guarantor | |||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Revenues | $ | — | $ | 788.9 | $ | 13.9 | $ | 3,985.70 | $ | (1,346.2 | ) | $ | 3,442.30 | |||||||||||
Cost of revenues | — | 531.5 | 0.8 | 3,236.40 | (1,335.2 | ) | 2,433.50 | |||||||||||||||||
Gross profit | — | 257.4 | 13.1 | 749.3 | (11.0 | ) | 1,008.80 | |||||||||||||||||
Operating Expenses: | ||||||||||||||||||||||||
Research and development | — | 167.6 | 10.7 | 184.2 | — | 362.5 | ||||||||||||||||||
Selling and marketing | — | 70.4 | 1 | 123.7 | — | 195.1 | ||||||||||||||||||
General and administrative | — | 84 | 0.7 | 107.7 | — | 192.4 | ||||||||||||||||||
Amortization of acquisition related intangible assets | — | 18 | — | 28.8 | (4.1 | ) | 42.7 | |||||||||||||||||
Restructuring, asset impairments and other, net | — | 3.4 | — | 99.3 | — | 102.7 | ||||||||||||||||||
Total operating expenses | — | 343.4 | 12.4 | 543.7 | (4.1 | ) | 895.4 | |||||||||||||||||
Operating income (loss) | — | (86.0 | ) | 0.7 | 205.6 | (6.9 | ) | 113.4 | ||||||||||||||||
Other income (expenses), net: | ||||||||||||||||||||||||
Interest expense | (50.8 | ) | (8.5 | ) | — | (9.6 | ) | — | (68.9 | ) | ||||||||||||||
Interest income | — | 0.4 | — | 0.7 | — | 1.1 | ||||||||||||||||||
Other | — | (3.1 | ) | — | (5.8 | ) | — | (8.9 | ) | |||||||||||||||
Loss on debt repurchase or exchange | (23.2 | ) | — | — | — | — | (23.2 | ) | ||||||||||||||||
Gain on System Solutions Semiconductor acquisition | (0.1 | ) | 24.4 | — | — | — | 24.3 | |||||||||||||||||
Equity in earnings | 85.7 | 151.6 | 7.7 | — | (245.0 | ) | — | |||||||||||||||||
Other income (expenses), net | 11.6 | 164.8 | 7.7 | (14.7 | ) | (245.0 | ) | (75.6 | ) | |||||||||||||||
Income before income taxes | 11.6 | 78.8 | 8.4 | 190.9 | (251.9 | ) | 37.8 | |||||||||||||||||
Income tax benefit (provision) | — | 1.5 | — | (24.4 | ) | — | (22.9 | ) | ||||||||||||||||
Net income | 11.6 | 80.3 | 8.4 | 166.5 | (251.9 | ) | 14.9 | |||||||||||||||||
Net income attributable to non-controlling interest | — | — | — | — | (3.3 | ) | (3.3 | ) | ||||||||||||||||
Net income attributable to ON Semiconductor Corporation | $ | 11.6 | $ | 80.3 | $ | 8.4 | $ | 166.5 | $ | (255.2 | ) | $ | 11.6 | |||||||||||
Comprehensive income attributable to ON Semiconductor Corporation | $ | 24 | $ | 92.6 | $ | 8.4 | $ | 178.9 | $ | (279.9 | ) | $ | 24 | |||||||||||
CONDENSED CONSOLIDATING STATEMENT CASH FLOWS | ||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2013 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuer | Guarantor | |||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Net cash provided by operating activities | $ | — | $ | 63.9 | $ | 0.2 | $ | 274.5 | $ | (11.3 | ) | $ | 327.3 | |||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||
Purchases of property, plant and equipment | — | (32.4 | ) | (0.2 | ) | (122.6 | ) | — | (155.2 | ) | ||||||||||||||
Proceeds from sales of property, plant and equipment | — | 0.1 | — | 9.6 | — | 9.7 | ||||||||||||||||||
Deposits made for purchases of property, plant and equipment | — | — | — | (1.3 | ) | — | (1.3 | ) | ||||||||||||||||
Proceeds from held-to maturity securities | — | 224.3 | — | — | — | 224.3 | ||||||||||||||||||
Purchase of held-to-maturity securities | — | (195.7 | ) | — | — | — | (195.7 | ) | ||||||||||||||||
Contribution from subsidiaries | 235.2 | — | — | — | (235.2 | ) | — | |||||||||||||||||
Net cash provided by (used in) investing activities | 235.2 | (3.7 | ) | (0.2 | ) | (114.3 | ) | (235.2 | ) | (118.2 | ) | |||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||
Intercompany loans | — | (812.0 | ) | — | 812 | — | — | |||||||||||||||||
Intercompany loan repayments to guarantor | — | 981.7 | — | (981.7 | ) | — | — | |||||||||||||||||
Payments to parent | — | (246.5 | ) | — | — | 246.5 | — | |||||||||||||||||
Proceeds from issuance of common stock under the employee stock purchase plan | 8.3 | — | — | — | — | 8.3 | ||||||||||||||||||
Proceeds from exercise of stock options | 12.1 | — | — | — | — | 12.1 | ||||||||||||||||||
Payments of tax withholding for restricted shares | (4.5 | ) | — | — | — | — | (4.5 | ) | ||||||||||||||||
Repurchase of common stock | (101.0 | ) | — | — | — | — | (101.0 | ) | ||||||||||||||||
Proceeds from debt issuance | — | 120 | — | 53.7 | — | 173.7 | ||||||||||||||||||
Payment of capital leases obligations | — | (38.2 | ) | — | (3.5 | ) | — | (41.7 | ) | |||||||||||||||
Repayment of long-term debt | (150.1 | ) | (6.2 | ) | — | (61.4 | ) | — | (217.7 | ) | ||||||||||||||
Payments made in connection with debt refinancing | — | (3.2 | ) | — | — | — | (3.2 | ) | ||||||||||||||||
Net cash used in financing activities | (235.2 | ) | (4.4 | ) | — | (180.9 | ) | 246.5 | (174.0 | ) | ||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | (12.5 | ) | — | (12.5 | ) | ||||||||||||||||
Net increase (decrease) in cash and cash equivalents | — | 55.8 | — | (33.2 | ) | — | 22.6 | |||||||||||||||||
Cash and cash equivalents, beginning of period | — | 212.1 | — | 274.8 | — | 486.9 | ||||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | 267.9 | $ | — | $ | 241.6 | $ | — | $ | 509.5 | ||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2012 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuers | Guarantor | |||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Net cash provided by operating activities | $ | — | $ | 45.5 | $ | 0.9 | $ | 242.7 | $ | (13.1 | ) | $ | 276 | |||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||
Purchases of property, plant and equipment | — | (55.0 | ) | (0.7 | ) | (200.6 | ) | — | (256.3 | ) | ||||||||||||||
Proceeds from sale of property, plant and equipment | — | 0.1 | — | 6.1 | — | 6.2 | ||||||||||||||||||
Deposits utilized for purchases of property, plant and equipment | — | — | — | 1.4 | — | 1.4 | ||||||||||||||||||
Recovery from insurance on property, plant and equipment | — | — | — | 11.5 | — | 11.5 | ||||||||||||||||||
Proceeds from held-to-maturity securities | — | 377.6 | — | — | — | 377.6 | ||||||||||||||||||
Purchase of held-to-maturity securities | — | (273.8 | ) | — | — | — | (273.8 | ) | ||||||||||||||||
Contribution from subsidiaries | 167.8 | (7.9 | ) | — | — | (159.9 | ) | — | ||||||||||||||||
Net cash provided by (used in) investing activities | 167.8 | 41 | (0.7 | ) | (181.6 | ) | (159.9 | ) | (133.4 | ) | ||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||
Intercompany loans | — | (524.0 | ) | — | 524 | — | — | |||||||||||||||||
Intercompany loan repayments | — | 562 | — | (562.0 | ) | — | — | |||||||||||||||||
Payments to parent | — | (180.9 | ) | — | 7.9 | 173 | — | |||||||||||||||||
Proceeds from issuance of common stock under the employee stock purchase plan | 8.3 | — | — | — | — | 8.3 | ||||||||||||||||||
Proceeds from exercise of stock options | 9.4 | — | — | — | — | 9.4 | ||||||||||||||||||
Payments of tax withholding for restricted shares | (9.6 | ) | — | — | — | — | (9.6 | ) | ||||||||||||||||
Repurchase of common stock | (55.5 | ) | — | — | — | — | (55.5 | ) | ||||||||||||||||
Proceeds from debt issuance | — | 6.5 | — | 17.1 | — | 23.6 | ||||||||||||||||||
Payment of capital lease obligation | — | (37.4 | ) | — | (3.4 | ) | — | (40.8 | ) | |||||||||||||||
Repayment of long-term debt | (117.8 | ) | (5.1 | ) | — | (109.6 | ) | — | (232.5 | ) | ||||||||||||||
Payments made in connection with debt refinancing | (2.6 | ) | — | — | — | — | (2.6 | ) | ||||||||||||||||
Net cash used in financing activities | (167.8 | ) | (178.9 | ) | — | (126.0 | ) | 173 | (299.7 | ) | ||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | (8.9 | ) | — | (8.9 | ) | ||||||||||||||||
Net increase (decrease) in cash and cash equivalents | — | (92.4 | ) | 0.2 | (73.8 | ) | — | (166.0 | ) | |||||||||||||||
Cash and cash equivalents, beginning of period | — | 304.5 | (0.2 | ) | 348.6 | — | 652.9 | |||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | 212.1 | $ | — | $ | 274.8 | $ | — | $ | 486.9 | ||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2011 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuers | Guarantor | |||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Net cash provided by operating activities | $ | — | $ | 0.4 | $ | — | $ | 558.9 | $ | (13.8 | ) | $ | 545.5 | |||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||
Purchases of property, plant and equipment | — | (69.0 | ) | (0.2 | ) | (247.2 | ) | — | (316.4 | ) | ||||||||||||||
Proceeds from sales of property, plant and equipment | — | 0.1 | — | 3.2 | — | 3.3 | ||||||||||||||||||
Deposits utilized for purchases of property, plant and equipment | — | — | — | 0.5 | — | 0.5 | ||||||||||||||||||
Recovery from insurance on property, plant and equipment | — | — | — | 13.3 | — | 13.3 | ||||||||||||||||||
Purchase of businesses, net of cash acquired | — | 24.3 | — | (42.2 | ) | — | (17.9 | ) | ||||||||||||||||
Proceeds from held-to maturity securities | — | 122.2 | — | — | — | 122.2 | ||||||||||||||||||
Purchase of held-to-maturity securities | — | (370.8 | ) | — | — | — | (370.8 | ) | ||||||||||||||||
Change in restricted cash | — | 142.1 | — | — | — | 142.1 | ||||||||||||||||||
Contribution from subsidiaries | 23.9 | 234.5 | — | — | (258.4 | ) | — | |||||||||||||||||
Net cash provided by (used in) investing activities | 23.9 | 83.4 | (0.2 | ) | (272.4 | ) | (258.4 | ) | (423.7 | ) | ||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||
Intercompany loan activity | — | (289.3 | ) | — | 289.3 | — | — | |||||||||||||||||
Intercompany loan repayments to guarantor | — | 182.2 | — | (182.2 | ) | — | — | |||||||||||||||||
Payments to parent | — | (37.7 | ) | — | (234.5 | ) | 272.2 | — | ||||||||||||||||
Proceeds from issuance of common stock under the employee stock purchase plan | 8.1 | — | — | — | — | 8.1 | ||||||||||||||||||
Proceeds from exercise of stock options | 59.4 | — | — | — | — | 59.4 | ||||||||||||||||||
Payments of tax withholding for restricted shares | (19.3 | ) | — | — | — | — | (19.3 | ) | ||||||||||||||||
Proceeds from debt issuance | — | 12.2 | — | 56.8 | — | 69 | ||||||||||||||||||
Payment of capital leases obligations | — | (36.4 | ) | — | (2.6 | ) | — | (39.0 | ) | |||||||||||||||
Repayment of long-term debt | (56.2 | ) | (2.6 | ) | — | (100.7 | ) | — | (159.5 | ) | ||||||||||||||
Payments made in connection with debt refinancing | (15.9 | ) | — | — | — | — | (15.9 | ) | ||||||||||||||||
Net cash used in financing activities | (23.9 | ) | (171.6 | ) | — | (173.9 | ) | 272.2 | (97.2 | ) | ||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | 5 | — | 5 | ||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | — | (87.8 | ) | (0.2 | ) | 117.6 | — | 29.6 | ||||||||||||||||
Cash and cash equivalents, beginning of period | — | 392.3 | — | 231 | — | 623.3 | ||||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | 304.5 | $ | (0.2 | ) | $ | 348.6 | $ | — | $ | 652.9 | |||||||||||
Valuation_And_Qualifying_Accou
Valuation And Qualifying Accounts And Reserves | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||||||
Valuation And Qualifying Accounts And Reserves | ' | ||||||||||||||||||||
Description | Balance at Beginning of Period | Charged to Costs and Expenses | Charged to Other Accounts | Deductions/Write-offs | Balance at End of Period | ||||||||||||||||
Allowance for doubtful accounts | |||||||||||||||||||||
Year ended December 31, 2011 | $ | 7.3 | $ | (0.2 | ) | $ | — | $ | — | $ | 7.1 | ||||||||||
Year ended December 31, 2012 | 7.1 | (1.9 | ) | — | (2.5 | ) | 2.7 | ||||||||||||||
Year ended December 31, 2013 | 2.7 | — | — | (1.7 | ) | 1 | |||||||||||||||
Allowance for deferred tax assets | |||||||||||||||||||||
Year ended December 31, 2011 | $ | 560.8 | $ | 170.1 | $ | 895.2 | -1 | $ | — | $ | 1,626.10 | ||||||||||
Year ended December 31, 2012 | 1,626.10 | (4.0 | ) | (92.2 | ) | -2 | (109.8 | ) | -3 | 1,420.10 | |||||||||||
Year ended December 31, 2013 | 1,420.10 | 74.9 | (161.8 | ) | -2 | (6.0 | ) | 1,327.20 | |||||||||||||
(1) Represents a charge of $895.2 million to goodwill for deferred tax assets acquired from SANYO Semiconductor on January 1, 2011. | |||||||||||||||||||||
(2) Represents the effects of cumulative translation adjustments. | |||||||||||||||||||||
(3) Represents decreases to deferred tax assets, which have a full valuation allowance arising from the SANYO Semiconductor Transaction. Additional information related to these deferred tax assets became available in 2012. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Principles of Consolidation | ' | |
Principles of Consolidation | ||
The accompanying consolidated financial statements include the accounts of the Company, including its wholly-owned and majority-owned subsidiaries. Investments in companies that represent less than 20% of the related voting stock where the Company does not have the ability to exert significant influence are accounted for on a cost basis. All material intercompany accounts and transactions have been eliminated. | ||
Use of Estimates | ' | |
Use of Estimates | ||
The preparation of financial statements in accordance with generally accepted accounting principles in the United States of America 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) measurement of valuation allowances relating to trade receivables, inventories and deferred tax assets; (ii) estimates of future payouts for customer incentives, warranties, and restructuring activities; (iii) assumptions surrounding future pension obligations; (iv) fair values of stock options and of financial instruments (including derivative financial instruments); (v) evaluations of uncertain tax positions; and (vi) future cash flows used to assess and test for impairment of long-lived assets and, if applicable, goodwill. Actual results could differ from these estimates. | ||
Cash and cash equivalents | ' | |
Cash and cash equivalents | ||
The Company considers all highly liquid investments with an original maturity to the Company of three months or less to be cash equivalents. Cash and cash equivalents are maintained with reputable major financial institutions. If, due to current economic conditions, one or more of the financial institutions with which the Company maintains deposits fails, the Company's cash and cash equivalents may be at risk. Deposits with these banks generally exceed the amount of insurance provided on such deposits; however, these deposits typically may be redeemed upon demand and, therefore, bear minimal risk. | ||
Short-Term Investments | ' | |
Short-Term Investments | ||
Short-term investments have an original maturity to the Company between three months and one year, and are classified as held-to-maturity. Held-to-maturity securities are carried at amortized cost as it is the intent of the Company to hold these securities until maturity. | ||
Allowance for Doubtful Accounts | ' | |
Allowance for Doubtful Accounts | ||
In the normal course of business, the Company provides unsecured credit terms to its customers. Accordingly, the Company maintains an allowance for doubtful accounts for possible losses on uncollectible accounts receivable. The Company routinely analyzes accounts receivable and considers history, customer creditworthiness, facts and circumstances specific to outstanding balances, current economic trends, and payment term changes when evaluating adequacy of the allowance for doubtful accounts. For uncollectible accounts receivable, the Company records a loss against the allowance for doubtful accounts only after exhaustive efforts have been made to collect. | ||
Inventories | ' | |
Inventories | ||
Inventories are stated at the lower of standard cost (which approximates actual cost on a first-in, first-out basis) or market. General market conditions, as well as the Company's design activities, can cause certain of its products to become obsolete. The Company records provisions for potential excess and obsolete inventories based upon a regular analysis of inventory on hand compared to historical and projected end-user demand. These provisions can influence results from operations. For example, when demand for a given part falls, all or a portion of the related inventory, that is considered to be in excess of anticipated demand, is reserved, impacting cost of revenues and gross profit. If demand recovers and the parts previously reserved are sold, a higher than normal margin will generally be recognized. However, the majority of product inventory that has been previously reserved is ultimately discarded. Although the Company does sell some products that have previously been written down, such sales have historically been relatively consistent on a quarterly basis and the related impact on the Company's gross profit has not been material. | ||
Property, Plant and Equipment | ' | |
Property, Plant and Equipment | ||
Property, plant and equipment are recorded at cost and are depreciated over estimated useful lives of 30-50 years for buildings and 3-20 years for machinery and equipment using accelerated and straight-line methods. Expenditures for maintenance and repairs are charged to operations in the period in which the expense is incurred. When assets are retired or otherwise disposed of, the related costs and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in operations in the period realized. | ||
The Company evaluates the recoverability of the carrying amount of its property, plant and equipment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be fully recoverable. A potential impairment charge is evaluated when the undiscounted expected cash flows derived from an asset group are less than its carrying amount. Impairment losses are measured as the amount by which the carrying value of an asset group exceeds its fair value and are recognized in operating results. Judgment is used when applying these impairment rules to determine the timing of the impairment test, the undiscounted cash flows used to assess impairments and the fair value of an impaired asset group. The dynamic economic environment in which the Company operates and the resulting assumptions used to estimate future cash flows impact the outcome of these impairment tests. | ||
Business Combination Purchase Price Allocation | ' | |
Business Combination Purchase Price Allocation | ||
The allocation of the purchase price of business combinations is based on management estimates and assumptions, and other information compiled by management, which utilizes established valuation techniques appropriate for the high-technology industry. These techniques include the income approach, cost approach or market approach, depending upon which approach is the most appropriate based on the nature and reliability of available data. The income approach is predicated upon the value of the future cash flows that an asset is expected to generate over its economic life. The cost approach takes into account the cost to replace (or reproduce) the asset and the effects on the asset's value of physical, functional and/or economic obsolescence that has occurred with respect to the asset. The market approach is used to estimate value from an analysis of actual transactions or offerings for economically comparable assets available as of the valuation date. | ||
Goodwill | ' | |
Goodwill | ||
Goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired in the Company's acquisitions. See Note 5: "Goodwill and Intangible Assets" and Note 4: "Acquisitions" for additional information. | ||
The Company evaluates its goodwill for potential impairment annually during the fourth quarter and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. Determining the fair value of the Company's reporting units is subjective in nature and involves the use of significant estimates and assumptions, including projected net cash flows, discount and long-term growth rates. The Company determines the fair value of its reporting units based on an income approach, whereby the fair value of the reporting unit is derived from the present value of estimated future cash flows. Estimates of the future cash flows associated with the businesses are critical to these assessments. The assumptions about future conditions include factors such as future revenues, gross profits, operating expenses, and industry trends. The Company considers historical rates and current market conditions when determining the discount and long-term growth rates to use in its analysis. The Company considers other valuation methods, such as the cost approach or market approach, if it is determined that these methods provide a more representative approximation of fair value. Changes in these estimates based on evolving economic conditions or business strategies could result in material impairment charges in future periods. The Company bases its fair value estimates on assumptions it believes to be reasonable. Actual future results may differ from those estimates. | ||
When evaluating goodwill for impairment, the Company may initially perform a qualitative assessment which includes a review and analysis of certain quantitative factors to estimate if its reporting units' fair values significantly exceed their carrying values. When the estimate of a reporting unit's fair value appears more likely than not to be less than its carrying value based on this qualitative assessment, the Company continues to the first step of a two step impairment test. | ||
The first step of the goodwill impairment test compares the fair value of the reporting unit to its carrying value. If the fair value of the reporting unit exceeds the carrying value of the net assets associated with that unit, goodwill is not considered impaired and the Company is not required to perform further testing. If the carrying value of the net assets associated with the reporting unit exceeds the fair value of the reporting unit, then the Company must perform the second step of the goodwill impairment test in order to determine the implied fair value of the reporting unit’s goodwill. If, during this second step, the Company determines that the carrying value of a reporting unit’s goodwill exceeds its implied fair value, the Company would record an impairment loss equal to the difference. | ||
The Company has determined that its product families, which are components of its operating segments, constitute reporting units for purposes of allocating and testing goodwill. The Company's product families are one level below its operating segments, with the Company's segment management conducting regular reviews of the operating results for each product family. As of each acquisition date, all goodwill acquired was assigned to the product families that were expected to benefit from the synergies of the respective acquisition. The amount of goodwill assigned to each reporting unit was the difference between the fair value of the acquired business included in a reporting unit and the fair value of identifiable assets and liabilities allocated to the reporting unit as of the acquisition date. | ||
Intangible Assets | ' | |
Intangible Assets | ||
The Company's acquisitions have resulted in intangible assets consisting of values assigned to IP, assembled workforce, customer relationships, non-compete agreements, patents, developed technology, trademarks, acquired software and IPRD. These are stated at cost less accumulated amortization, are amortized over their estimated useful lives ranging from less than 1 year to 18 years, and are reviewed for impairment when facts or circumstances suggest that the carrying value of the asset group containing these assets may not be recoverable. A potential impairment charge is evaluated when the undiscounted expected cash flows derived from an asset group are less than its carrying amount. Impairment losses are measured as the amount by which the carrying value of an asset group exceeds its fair value and are recognized in operating results. Judgment is used when applying these impairment rules to determine the timing of the impairment test, the undiscounted cash flows used to assess impairments and the fair value of an impaired asset group. The dynamic economic environment in which the Company operates and the resulting assumptions used to estimate future cash flows impact the outcome of these impairment tests. See Note 5: "Goodwill and Intangible Assets" for additional information. | ||
Treasury Stock | ' | |
Treasury Stock | ||
Treasury stock is recorded at cost, inclusive of fees, commissions and other expenses, when outstanding common shares are repurchased or otherwise acquired by the Company, including when outstanding shares are withheld to satisfy tax withholding obligations in connection with certain shares pursuant to restricted stock units under the Company's share-based compensation plans. See Note 9: "Earnings Per Share and Equity" for additional information. | ||
Debt Issuance Costs | ' | |
Debt Issuance Costs | ||
Debt issuance costs are capitalized and amortized over the term of the underlying agreements using the effective interest method and, for the Company's convertible notes, are amortized through the first put date, which the Company considers to be the earliest maturity date. Upon prepayment of debt, the related unamortized debt issuance costs are charged to expense. Amortization of debt issuance costs is included in interest expense while the unamortized balance is included in other assets. See Note 8: "Long-Term Debt - Loss on Debt Repurchase or Exchange" for additional information. | ||
Revenue Recognition | ' | |
Revenue Recognition | ||
The Company generates revenue 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 services provided to customers. | ||
The Company recognizes revenue on sales to OEMs, distributors that are not entitled to returns and allowances, electronic manufacturing service providers and on sales of manufacturing services, net of provisions for related sales returns and allowances. Revenue is recognized when persuasive evidence of an arrangement exists, title and risk of loss pass to the customer (which is generally upon shipment), the price is fixed or determinable and collectability is reasonably assured. | ||
For products sold to distributors who are entitled to returns and allowances, the Company recognizes the related revenue and cost of revenues when it is informed by the distributor that it has resold the products to the end-user. As a result of the Company's inability to reliably estimate up front the effects of the returns and allowances with these distributors, the Company defers the related revenue and gross margin on sales to these distributors until it is informed by the distributor that the products have been resold to the end-user. Although payment terms vary, most distributor agreements require payment within 30 days. | ||
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. | ||
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. Under the Company's general agreements, distributors are allowed to return any product that has been removed from the price book. In addition, agreements with distributors typically contain standard stock rotation provisions permitting limited levels of product returns. However, since the Company defers recognition of revenue and gross profit on sales to distributors until the distributor resells the product, due to the inability to reliably estimate up front the effect of the returns and allowances with these distributors, sales returns and allowances have minimal impact on the results of operations. 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 adjustments, as necessary. | ||
The Company generally warrants that products sold to its customers will, at the time of shipment, be free from defects in workmanship and materials and conform to approved specifications. The Company's standard warranty extends for a period that is the greater of (i) two years from the date of shipment or (ii) the period of time specified in the customer's standard warranty (provided that the customer's standard warranty is stated in writing and extended to purchasers at no additional charge). At the time revenue is recognized, the Company establishes an accrual for estimated warranty expenses associated with its sales, recorded as a component of cost of revenues. In addition, the Company also offers cash discounts to certain customers for payments received within an agreed upon time, generally 10 days after shipment. The Company records a reserve for cash discounts as a reduction to accounts receivable and a reduction to revenues, based on experience with each customer. | ||
Freight and handling costs are included in cost of revenues and are recognized as period expense during the period in which they are incurred. | ||
Research and Development Costs | ' | |
Research and Development Costs | ||
Research and development costs are expensed as incurred. | ||
Share-Based Compensation | ' | |
Share-Based Compensation | ||
Share-based compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as expense over the employee's requisite service period. The Company has outstanding awards with performance, time and service-based vesting provisions. See Note 10: "Share-Based Compensation" for additional information. | ||
Income Taxes | ' | |
Income Taxes | ||
Income taxes are accounted for using the asset and liability method. Under this method, deferred income tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which these temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for those deferred tax assets for which management cannot conclude that it is more likely than not that such deferred tax assets will be realized. | ||
In determining the amount of the valuation allowance, estimated future taxable income, as well as feasible tax planning strategies for each taxing jurisdiction are considered. If the Company determines it is more likely than not that all or a portion of the remaining deferred tax assets will not be realized, the valuation allowance will be increased with a charge to income tax expense. Conversely, if the Company determines it is more likely than not to be able to utilize all or a portion of the deferred tax assets for which a valuation allowance has been provided, the related portion of the valuation allowance will be released to income as a reduction to income tax expense. | ||
The Company recognizes and measures benefits for uncertain tax positions using a two-step approach. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that is it more likely than not that the tax positions will be sustained upon audit, including resolution of any related appeals or litigation processes. For tax positions that are more likely than not to be sustained upon audit, the second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon settlement. The Company's practice is to recognize interest and/or penalties related to income tax matters in income tax expense. Significant judgment is required to evaluate uncertain tax positions. Evaluations are based upon a number of factors, including changes in facts or circumstances, changes in tax law, correspondence with tax authorities during the course of audits and effective settlement of audit issues. Changes in the recognition or measurement of uncertain tax positions could result in material increases or decreases in income tax expense in the period in which the change is made, which could have a material impact on the Company's effective tax position. | ||
Foreign Currencies | ' | |
Foreign Currencies | ||
Most of the Company's foreign subsidiaries conduct business primarily in U.S. dollars and, as a result, utilize the dollar as their functional currency. For the remeasurement of financial statements of these subsidiaries, assets and liabilities in foreign currencies that are receivable or payable in cash are remeasured at current exchange rates, while inventories and other non-monetary assets in foreign currencies are remeasured at historical rates. Gains and losses resulting from the remeasurement of such financial statements are included in the operating results, as are gains and losses incurred on foreign currency transactions. | ||
The Company's Japanese subsidiaries utilize Japanese Yen as their functional currency. The assets and liabilities of these subsidiaries are translated at current exchange rates, while revenues and expenses are translated at the average rates in effect for the period. The related translation gains and losses are included in other comprehensive income or loss within the Consolidated Statements of Operations and Comprehensive Income. | ||
Defined Benefit Pension Plans | ' | |
Defined Benefit Pension Plans | ||
The Company maintains defined benefit pension plans, covering certain of its foreign employees. For financial reporting purposes, net periodic pension costs and pension obligations are determined based upon a number of actuarial assumptions, including discount rates for plan obligations, assumed rates of return on pension plan assets and assumed rates of compensation increases for employees participating in plans. These assumptions are based upon management's judgment and consultation with actuaries, considering all known trends and uncertainties. See Note 11: "Employee Benefit Plans" for additional information. | ||
Contingencies | ' | |
Contingencies | ||
The Company is involved in a variety of legal matters that arise in the normal course of business. Based on information available, management evaluates the relevant range and likelihood of potential outcomes and records the appropriate liability when the amount is deemed probable and reasonably estimable. | ||
Fair Value Measurement | ' | |
Fair Value Measurement | ||
The Company measures certain of its financial and non-financial assets at fair value by using a fair value hierarchy that prioritizes certain inputs into individual fair value measurement approaches. Fair value is the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value, as follows: | ||
• | Level 1 - Quoted prices in active markets for identical assets or liabilities; | |
• | Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; | |
• | Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |
Companies may choose to measure certain financial instruments and certain other items at fair value. Unrealized gains and losses on items for which the fair value option has been elected must be reported in earnings. The Company has elected not to carry any of its debt instruments at fair value. See Note 13: "Fair Value Measurements" for additional information. | ||
Recent Accounting Pronouncements | ' | |
Recent Accounting Pronouncements | ||
ASU No. 2013-11 - “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” (“ASU 2013-11”) | ||
In July 2013, the FASB issued ASU 2013-11, which applies to the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. Pursuant to ASU 2013-11, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, with certain exceptions. The amendments contained in ASU 2013-11 do not require new recurring disclosures. The related amendments are effective for reporting periods beginning after December 15, 2013; however early adoption is permitted. ASU 2013-11 is not expected to have a material impact on the Company's consolidated financial statements. |
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Acquisition of SANYO Semiconductor Co., LTD | ' | ||||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | ' | ||||
The following table presents the fair values of the net assets of SANYO Semiconductor as acquired (in millions): | |||||
Fair Value | |||||
Cash and cash equivalents | $ | 117.1 | |||
Receivables, net | 242.1 | ||||
Inventories | 400.3 | ||||
Other current assets | 119.7 | ||||
Property, plant and equipment | 146.7 | ||||
Intangible assets | 55.7 | ||||
Other non-current assets | 75.4 | ||||
Total assets acquired | 1,157.00 | ||||
Accounts payable | (300.0 | ) | |||
Other current liabilities | (152.0 | ) | |||
Long-term accrued liabilities | (200.8 | ) | |||
Total liabilities assumed | (652.8 | ) | |||
Net assets acquired | 504.2 | ||||
Gain on acquisition | (24.3 | ) | |||
Purchase price | $ | 479.9 | |||
Acquisition of the CMOS Image Sensor Business Unit from Cypress Semiconductor | ' | ||||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | ' | ||||
The following table presents the allocation of the purchase price of the ISBU to the assets acquired and liabilities assumed on February 27, 2011 based on their fair values (in millions): | |||||
Allocation | |||||
Cash and cash equivalents | $ | 1.5 | |||
Receivables, net | 2.6 | ||||
Inventories | 9.2 | ||||
Other current assets | 0.4 | ||||
Property, plant and equipment | 1.2 | ||||
Goodwill | 7.5 | ||||
Intangible assets | 11.2 | ||||
In-process research and development | 11.2 | ||||
Total assets acquired | 44.8 | ||||
Accounts payable | (5.6 | ) | |||
Other current liabilities | (3.7 | ) | |||
Other non-current liabilities | (1.4 | ) | |||
Total liabilities assumed | (10.7 | ) | |||
Net assets acquired | $ | 34.1 | |||
Goodwill_And_Intangible_Assets1
Goodwill And Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Summary of Goodwill by Operating Segment | ' | ||||||||||||||||||||||||||||||||
The following table summarizes goodwill by relevant reportable segment as of December 31, 2013 and December 31, 2012 (in millions): | |||||||||||||||||||||||||||||||||
Balance as of December 31, 2013 | Balance as of December 31, 2012 | ||||||||||||||||||||||||||||||||
Goodwill | Accumulated Amortization | Accumulated Impairment Losses | Carrying Value | Goodwill | Accumulated Amortization | Accumulated Impairment Losses | Carrying Value | ||||||||||||||||||||||||||
Operating Segment: | |||||||||||||||||||||||||||||||||
Application Products Group | $ | 547.4 | $ | (4.2 | ) | $ | (406.0 | ) | $ | 137.2 | $ | 547.4 | $ | (4.2 | ) | $ | (406.0 | ) | $ | 137.2 | |||||||||||||
Standard Products Group | 76 | (5.6 | ) | (23.0 | ) | 47.4 | 76 | (5.6 | ) | (23.0 | ) | 47.4 | |||||||||||||||||||||
$ | 623.4 | $ | (9.8 | ) | $ | (429.0 | ) | $ | 184.6 | $ | 623.4 | $ | (9.8 | ) | $ | (429.0 | ) | $ | 184.6 | ||||||||||||||
Schedule Of Change In Goodwill | ' | ||||||||||||||||||||||||||||||||
The following table summarizes the change in goodwill from December 31, 2011 to December 31, 2013 (in millions): | |||||||||||||||||||||||||||||||||
Net balance as of December 31, 2011 | $ | 198.7 | |||||||||||||||||||||||||||||||
Impairment charge | (14.1 | ) | |||||||||||||||||||||||||||||||
Net balance as of December 31, 2012 | 184.6 | ||||||||||||||||||||||||||||||||
Impairment charge | — | ||||||||||||||||||||||||||||||||
Net balance as of December 31, 2013 | $ | 184.6 | |||||||||||||||||||||||||||||||
Summary of Intangible Assets, Net | ' | ||||||||||||||||||||||||||||||||
Intangible assets, net were as follows as of December 31, 2013 and December 31, 2012 (in millions): | |||||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Original | Accumulated | Foreign Currency | Accumulated Impairment | Carrying | Useful Life | ||||||||||||||||||||||||||||
Cost | Amortization | Translation Adjustment | Value | (in Years) | |||||||||||||||||||||||||||||
Intellectual property | $ | 13.9 | $ | (9.4 | ) | $ | — | $ | (0.4 | ) | $ | 4.1 | 12-May | ||||||||||||||||||||
Customer relationships | 280.3 | (105.5 | ) | (27.4 | ) | (23.0 | ) | 124.4 | 18-May | ||||||||||||||||||||||||
Patents | 43.7 | (19.0 | ) | — | (13.7 | ) | 11 | 12 | |||||||||||||||||||||||||
Developed technology | 146.2 | (66.7 | ) | — | (2.4 | ) | 77.1 | 12-May | |||||||||||||||||||||||||
Trademarks | 14 | (6.1 | ) | — | (1.1 | ) | 6.8 | 15 | |||||||||||||||||||||||||
Total intangibles | $ | 498.1 | $ | (206.7 | ) | $ | (27.4 | ) | $ | (40.6 | ) | $ | 223.4 | ||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Original | Accumulated | Foreign Currency | Accumulated Impairment | Carrying | Useful Life | ||||||||||||||||||||||||||||
Cost | Amortization | Translation Adjustment | Value | (in Years) | |||||||||||||||||||||||||||||
Intellectual property | $ | 13.9 | $ | (8.7 | ) | $ | — | $ | (0.4 | ) | $ | 4.8 | 12-May | ||||||||||||||||||||
Customer relationships | 280.3 | (91.8 | ) | (26.9 | ) | (23.0 | ) | 138.6 | 18-May | ||||||||||||||||||||||||
Patents | 43.7 | (16.6 | ) | — | (13.7 | ) | 13.4 | 12 | |||||||||||||||||||||||||
Developed technology | 146.2 | (51.3 | ) | — | (2.4 | ) | 92.5 | 12-May | |||||||||||||||||||||||||
Trademarks | 14 | (5.2 | ) | — | (1.1 | ) | 7.7 | 15 | |||||||||||||||||||||||||
Total intangibles | $ | 498.1 | $ | (173.6 | ) | $ | (26.9 | ) | $ | (40.6 | ) | $ | 257 | ||||||||||||||||||||
Summary of Amortization Expense | ' | ||||||||||||||||||||||||||||||||
Amortization expense for intangible assets is expected to be as follows over the next five years, and thereafter (in millions): | |||||||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
2014 | $ | 32.6 | |||||||||||||||||||||||||||||||
2015 | 31.7 | ||||||||||||||||||||||||||||||||
2016 | 30.6 | ||||||||||||||||||||||||||||||||
2017 | 27.7 | ||||||||||||||||||||||||||||||||
2018 | 24.4 | ||||||||||||||||||||||||||||||||
Thereafter | 76.4 | ||||||||||||||||||||||||||||||||
Total estimated amortization expense | $ | 223.4 | |||||||||||||||||||||||||||||||
Restructuring_Asset_Impairment1
Restructuring, Asset Impairments And Other, Net (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Restructuring Charges [Abstract] | ' | ||||||||||||||||||||
Reconciliation Of "Restructuring, Asset Impairments And Other, Net" Caption On The Consolidated Statement Of Operations | ' | ||||||||||||||||||||
A summary description of the activity included in the “Restructuring, Asset Impairments and Other, net” caption on the Company's Consolidated Statements of Operations and Comprehensive Income for the years ended December 31, 2013, 2012 and 2011 is as follows (in millions): | |||||||||||||||||||||
Restructuring | Asset Impairments | Other | Total | ||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
System Solutions Group Voluntary Retirement Programs | 52.9 | — | (15.6 | ) | 37.3 | ||||||||||||||||
Aizu facility closure | 3.1 | — | (22.4 | ) | (19.3 | ) | |||||||||||||||
KSS facility closure | 6.5 | 3.5 | — | 10 | |||||||||||||||||
Other (1) | 4.8 | 4.5 | (4.1 | ) | 5.2 | ||||||||||||||||
Total | $ | 67.3 | $ | 8 | $ | (42.1 | ) | $ | 33.2 | ||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||
2012 global workforce reduction | $ | 11.2 | $ | — | $ | — | $ | 11.2 | |||||||||||||
System Solutions Group asset impairment | — | 94.4 | — | 94.4 | |||||||||||||||||
System Solutions Group Voluntary Retirement Program | 47.6 | — | (11.7 | ) | 35.9 | ||||||||||||||||
Aizu facility closure | 9 | 4.5 | 0.1 | 13.6 | |||||||||||||||||
System Solutions Group consolidation | 3.6 | — | — | 3.6 | |||||||||||||||||
Other (1) | 2 | 4.1 | 0.5 | 6.6 | |||||||||||||||||
Total | $ | 73.4 | $ | 103 | $ | (11.1 | ) | $ | 165.3 | ||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||
Thailand facility closure | $ | 5.7 | $ | 24.8 | $ | (18.6 | ) | $ | 11.9 | ||||||||||||
Aizu facility closure | 6.5 | 61.5 | 2 | 70 | |||||||||||||||||
System Solutions Group consolidation | 10 | — | — | 10 | |||||||||||||||||
Japan earthquake and tsunami | — | — | 4.8 | 4.8 | |||||||||||||||||
Phoenix wafer manufacturing facility closure | 4.3 | — | — | 4.3 | |||||||||||||||||
Other (1) | 1.2 | — | 0.5 | 1.7 | |||||||||||||||||
Total | $ | 27.7 | $ | 86.3 | $ | (11.3 | ) | $ | 102.7 | ||||||||||||
(1) Includes charges related to the certain reductions in workforce, certain acquisitions, other facility closures, asset disposal activity and certain other activity which is not considered to be significant. | |||||||||||||||||||||
Rollforward Of Accrued Restructuring Charges | ' | ||||||||||||||||||||
The following is a rollforward of the accrued restructuring charges from December 31, 2012 to December 31, 2013 (in millions): | |||||||||||||||||||||
Balance as of December 31, 2012 | Charges | Usage | Adjustments | Balance as of December 31, 2013 | |||||||||||||||||
Estimated employee separation charges | $ | 15.5 | $ | 62.2 | $ | (50.9 | ) | $ | (1.6 | ) | $ | 25.2 | |||||||||
Estimated costs to exit | 1.6 | 5.1 | (5.7 | ) | — | 1 | |||||||||||||||
Total | $ | 17.1 | 67.3 | (56.6 | ) | (1.6 | ) | 26.2 | |||||||||||||
The following is a rollforward of the accrued restructuring charges from December 31, 2011 to December 31, 2012 (in millions): | |||||||||||||||||||||
Balance as of December 31, 2011 | Charges | Usage | Adjustments | Balance as of December 31, 2012 | |||||||||||||||||
Estimated employee separation charges | $ | 8.9 | $ | 67.8 | $ | (60.7 | ) | $ | (0.5 | ) | $ | 15.5 | |||||||||
Estimated costs to exit | 8.4 | 5.6 | (12.2 | ) | (0.2 | ) | 1.6 | ||||||||||||||
Total | $ | 17.3 | $ | 73.4 | $ | (72.9 | ) | $ | (0.7 | ) | $ | 17.1 | |||||||||
Balance_Sheet_Information_Tabl
Balance Sheet Information (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Balance Sheet Related Disclosures [Abstract] | ' | |||||||
Supplemental Balance Sheet Information | ' | |||||||
Balance Sheet Information | ||||||||
Certain significant amounts included in the Company's balance sheet as of December 31, 2013 and December 31, 2012 consist of the following (dollars in millions): | ||||||||
December 31, 2013 | December 31, 2012 | |||||||
Receivables, net: | ||||||||
Accounts receivable | $ | 384.4 | $ | 360.5 | ||||
Less: Allowance for doubtful accounts | (1.0 | ) | (2.7 | ) | ||||
$ | 383.4 | $ | 357.8 | |||||
Inventories: | ||||||||
Raw materials | $ | 89.2 | $ | 73.2 | ||||
Work in process | 319.6 | 310.9 | ||||||
Finished goods | 203 | 197.6 | ||||||
$ | 611.8 | $ | 581.7 | |||||
Other Current Assets: | ||||||||
Prepaid expenses | $ | 24.8 | $ | 24.3 | ||||
Value added and other income tax receivables | 31.7 | 34.3 | ||||||
Other | 32.8 | 63.6 | ||||||
$ | 89.3 | $ | 122.2 | |||||
Property, plant and equipment, net: (1) | ||||||||
Land | $ | 52.3 | $ | 67.4 | ||||
Buildings | 467.7 | 572.4 | ||||||
Machinery and equipment | 1,918.40 | 1,979.40 | ||||||
Total property, plant and equipment | 2,438.40 | 2,619.20 | ||||||
Less: Accumulated depreciation | (1,364.2 | ) | (1,515.9 | ) | ||||
$ | 1,074.20 | $ | 1,103.30 | |||||
Accrued expenses: | ||||||||
Accrued payroll | $ | 91.3 | $ | 102.9 | ||||
Sales related reserves | 54.2 | 64.9 | ||||||
Restructuring reserves | 26.2 | 17.1 | ||||||
Accrued pension liability | 10.4 | 7.4 | ||||||
Accrued interest | 1.9 | 0.6 | ||||||
Other | 36.3 | 63.8 | ||||||
$ | 220.3 | $ | 256.7 | |||||
-1 | Included in property, plant and equipment are $8.7 million of fixed assets that are held-for-sale as of December 31, 2013. | |||||||
Warranty Reserves | ' | |||||||
The activity related to the Company's warranty reserves for 2011, 2012 and 2013 follows (in millions): | ||||||||
Balance as of December 31, 2010 | $ | 3.3 | ||||||
Provision | 4 | |||||||
Usage | (1.5 | ) | ||||||
Balance as of December 31, 2011 | 5.8 | |||||||
Provision | 8.1 | |||||||
Usage | (3.7 | ) | ||||||
Balance as of December 31, 2012 | 10.2 | |||||||
Provision | 4.4 | |||||||
Usage | (8.6 | ) | ||||||
Balance as of December 31, 2013 | $ | 6 | ||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Long-term Debt, Unclassified [Abstract] | ' | ||||||||||||
Long-Term Debt | ' | ||||||||||||
ong-term debt consists of the following (dollars in millions): | |||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||
Senior Revolving Credit Facility due 2018, interest payable quarterly at 2.00% and 0% respectively | $ | 120 | $ | — | |||||||||
Loan with Japanese bank due 2014 through 2018, interest payable quarterly at 2.00% and 2.06%, respectively (1) | 273.7 | 302 | |||||||||||
2.625% Notes (net of discount of zero and $7.1 million, respectively) (2) | — | 125.5 | |||||||||||
2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) (3) | 335.2 | 274.2 | |||||||||||
1.875% Notes (4) | — | 73.4 | |||||||||||
Loan with Hong Kong bank, interest payable weekly at 1.91% and 1.96%, respectively (6) | 40 | 30 | |||||||||||
Loans with Philippine banks due 2014 through 2015, interest payable monthly and quarterly at an average rate of 2.16% and 1.97%, respectively (8) | 39.2 | 45.8 | |||||||||||
Loan with Chinese bank due 2014, interest payable quarterly at 3.34% and 3.41%, respectively (9) | 7 | 7 | |||||||||||
Loan with Japanese bank due 2013, interest payable monthly at 0.00% and 1.58%, respectively (9) | — | 0.8 | |||||||||||
Loan with Singapore bank, interest payable weekly at 1.94% and 1.95%, respectively (6) | 15 | 15 | |||||||||||
Loan with British finance company, interest payable monthly at 1.57% and 1.51%, respectively (6) | 0.2 | 3.3 | |||||||||||
U.S. real estate mortgages payable monthly through 2016 at an average rate of 4.86% (7) | 28.1 | 29.8 | |||||||||||
U.S. equipment financing payable monthly through 2016 at 2.94% (5) | 9.5 | 14 | |||||||||||
Canada equipment financing payable monthly through 2017 at 3.81% (5) | 5.9 | — | |||||||||||
Canada revolving line of credit, interest payable quarterly at 1.84% (9) | 15 | — | |||||||||||
Capital lease obligations | 53.4 | 91.1 | |||||||||||
Long-term debt, including current maturities | 942.2 | 1,011.90 | |||||||||||
Less: Current maturities | (181.6 | ) | (353.6 | ) | |||||||||
Long-term debt | $ | 760.6 | $ | 658.3 | |||||||||
_______________________ | |||||||||||||
-1 | This loan represents SCI LLC's unsecured loan with SMBC, which is guaranteed by the Company. See additional information below under the heading "Note Payable to SMBC." | ||||||||||||
-2 | The 2.625% Notes were redeemed by the Company on December 20, 2013. | ||||||||||||
-3 | The 2.625% Notes, Series B may be put back to the Company at the option of the holders of the notes on December 15 of 2016 and 2021 or called at the option of the Company on or after December 20, 2016. | ||||||||||||
-4 | The 1.875% Notes were partially redeemed by the Company on December 20, 2012. The balance as of December 31, 2012 for notes submitted for conversion was subject to a 20 consecutive trading-day observation period and was subsequently settled during January 2013. | ||||||||||||
-5 | Debt arrangement secured by equipment. | ||||||||||||
-6 | Debt arrangement secured by accounts receivable. | ||||||||||||
-7 | Debt arrangement secured by real estate. | ||||||||||||
-8 | $15.0 million unsecured and $24.2 million secured by equipment and $7.5 million unsecured and $38.3 million secured by equipment, respectively. | ||||||||||||
-9 | Unsecured debt arrangement. | ||||||||||||
Annual Maturities Relating To Long-Term Debt | ' | ||||||||||||
Annual maturities relating to the Company’s long-term debt as of December 31, 2013 are as follows (in millions): | |||||||||||||
Annual | |||||||||||||
Maturities | |||||||||||||
2014 | 181.6 | ||||||||||||
2015 | 74 | ||||||||||||
2016 | 424.9 | ||||||||||||
2017 | 39 | ||||||||||||
2018 | 243.5 | ||||||||||||
Thereafter | 0.9 | ||||||||||||
Total | $ | 963.9 | |||||||||||
Schedule of Long-term Debt Instruments, Summary of Exchanges | ' | ||||||||||||
The 2.625% Notes, Series B are fully and unconditionally guaranteed on an unsecured senior subordinated basis by certain existing domestic subsidiaries of the Company (dollars in millions): | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Exchange date | 22-Mar-13 | 4-Sep-12 | 15-Dec-11 | ||||||||||
Principal value of 2.625% Notes | $ | 60 | $ | 99.9 | $ | 198.6 | |||||||
Principal value of 2.625% Notes, Series B | $ | 58.5 | $ | 99.9 | $ | 198.6 | |||||||
Cash consideration | $ | — | $ | 2 | $ | 15.9 | |||||||
Capitalized exchange expenses (1) | $ | 0.1 | $ | 0.6 | $ | 1.4 | |||||||
Effective interest rate | 4.7 | % | 4.4 | % | 5.25 | % | |||||||
(1) Represents exchange expenses capitalized as debt issuance costs that are amortized using the effective | |||||||||||||
interest method through the first put date of December 15, 2016. |
Earnings_Per_Share_and_Equity_
Earnings Per Share and Equity (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||
Schedule of Share Repurchase Program [Table Text Block] | ' | ||||||||||||
Share Repurchase Program | |||||||||||||
Information relating to the Company's share repurchase program is as follows (in millions, except per share data): | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Number of repurchased shares (1) | 13.9 | 8.8 | |||||||||||
Aggregate purchase price | $ | 101.3 | $ | 55.3 | |||||||||
Fees, commissions and other expenses | 0.3 | 0.2 | |||||||||||
Less: accrued share repurchases (2) | (0.6 | ) | — | ||||||||||
Total cash used for share repurchases | $ | 101 | $ | 55.5 | |||||||||
Weighted-average purchase price per share | $ | 7.29 | $ | 6.26 | |||||||||
Available for future purchases at period end | $ | 143.4 | $ | 244.7 | |||||||||
(1) None of these shares had been reissued or retired as of December 31, 2013, but may be reissued or retired by | |||||||||||||
the Company at a later date. | |||||||||||||
(2) Represents unpaid amounts recorded in accrued expenses on the Company's Consolidated Balance Sheet. | |||||||||||||
Income Per Share Calculations | ' | ||||||||||||
Calculations of net income per common share attributable to ON Semiconductor are as follows (in millions, except per share data): | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net income (loss) attributable to ON Semiconductor Corporation | $ | 150.8 | $ | (90.6 | ) | $ | 11.6 | ||||||
Basic weighted average common shares outstanding | 447.9 | 452.6 | 446.7 | ||||||||||
Add: Incremental shares for: | |||||||||||||
Dilutive effect of share-based awards | 2.8 | — | 7.6 | ||||||||||
Dilutive effect of convertible notes | — | — | 2.9 | ||||||||||
Diluted weighted average common shares outstanding | 450.7 | 452.6 | 457.2 | ||||||||||
Net income (loss) per common share attributable to ON Semiconductor Corporation: | |||||||||||||
Basic | $ | 0.34 | $ | (0.20 | ) | $ | 0.03 | ||||||
Diluted | $ | 0.33 | $ | (0.20 | ) | $ | 0.03 | ||||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||||||||
Summary Of Share-Based Compensation Expense | ' | |||||||||||||||||||||
Total share-based compensation expense related to the Company's employee stock options, restricted stock units, stock grant awards and ESPP for the years ended December 31, 2013, 2012 and 2011 was comprised as follows (in millions): | ||||||||||||||||||||||
Year Ended December 31, 2013 | Year Ended December 31, 2012 | Year Ended December 31, 2011 | ||||||||||||||||||||
Cost of revenues | $ | 5.3 | $ | 3.7 | $ | 6.3 | ||||||||||||||||
Research and development | 6.3 | 4.5 | 6.9 | |||||||||||||||||||
Selling and marketing | 5.7 | 4.3 | 6.4 | |||||||||||||||||||
General and administrative | 15 | 8 | 13.9 | |||||||||||||||||||
Restructuring | — | — | — | |||||||||||||||||||
Share-based compensation expense before income taxes | 32.3 | 20.5 | 33.5 | |||||||||||||||||||
Related income tax benefits (1) | — | — | — | |||||||||||||||||||
Share-based compensation expense, net of taxes | $ | 32.3 | $ | 20.5 | $ | 33.5 | ||||||||||||||||
____________________ | ||||||||||||||||||||||
-1 | A majority of the Company’s share-based compensation relates to its domestic subsidiaries; therefore, no related deferred income tax benefits are recorded due to historical net operating losses at those subsidiaries. | |||||||||||||||||||||
Weighted-Average Assumptions Of Employee Stock Options | ' | |||||||||||||||||||||
The weighted-average estimated fair value of employee stock options and the weighted-average assumptions used in the lattice model to calculate the weighted-average estimated fair value of employee stock options granted during the years ended December 31, 2013, 2012 and 2011 are as follows (annualized percentages): | ||||||||||||||||||||||
Year Ended December 31, 2013 | Year Ended December 31, 2012 | Year Ended December 31, 2011 | ||||||||||||||||||||
Volatility | 42.8 | % | 46.9 | % | 52.1 | % | ||||||||||||||||
Risk-free interest rate | 1.4 | % | 0.8 | % | 1.2 | % | ||||||||||||||||
Expected term | 5.2 years | 5.0 years | 4.8 years | |||||||||||||||||||
Weighted-average fair value per option | $ | 2.93 | $ | 3.01 | $ | 3.88 | ||||||||||||||||
Summary Of Stock Option Plans | ' | |||||||||||||||||||||
A summary of stock option transactions for all stock option plans follows (in millions except per share and term data): | ||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||
Number of Shares | Weighted-Average Exercise Price | Weighted Average Remaining Contractual Term (in years) | Aggregate Intrinsic Value | |||||||||||||||||||
Outstanding at December 31, 2012 | 17.2 | $ | 7.7 | |||||||||||||||||||
Granted | 0.1 | 7.39 | ||||||||||||||||||||
Exercised | (2.1 | ) | 5.82 | |||||||||||||||||||
Canceled | (1.2 | ) | 8.67 | |||||||||||||||||||
Outstanding at December 31, 2013 | 14 | $ | 7.89 | 3.4 | $ | 14.8 | ||||||||||||||||
Exercisable at December 31, 2013 | 11.6 | $ | 7.99 | 3.1 | $ | 12.4 | ||||||||||||||||
Additional Information On Stock Options Outstanding | ' | |||||||||||||||||||||
Additional information about stock options outstanding at December 31, 2013 with exercise prices less than or above $8.24 per share, the closing price of the Company's common stock at December 31, 2013, follows (number of shares in millions): | ||||||||||||||||||||||
Exercisable | Unexercisable | Total | ||||||||||||||||||||
Exercise Prices | Number of Shares | Weighted Average Exercise Price | Number of Shares | Weighted Average Exercise Price | Number of Shares | Weighted Average Exercise Price | ||||||||||||||||
Less than $8.24 | 6.2 | $ | 6.23 | 1.6 | $ | 6.75 | 7.8 | $ | 6.33 | |||||||||||||
Above $8.24 | 5.4 | $ | 9.97 | 0.8 | $ | 8.86 | 6.2 | $ | 9.82 | |||||||||||||
Total outstanding | 11.6 | $ | 7.99 | 2.4 | $ | 7.45 | 14 | $ | 7.89 | |||||||||||||
Summary Of Restricted Stock Units Transactions | ' | |||||||||||||||||||||
A summary of the restricted stock units transactions for the year ended December 31, 2013 follows (number of shares in millions): | ||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||
Number of Shares | Weighted-Average Grant Date Fair Value | |||||||||||||||||||||
Nonvested shares of restricted stock units at December 31, 2012 | 8.9 | $ | 8.75 | |||||||||||||||||||
Granted | 5.3 | 7.91 | ||||||||||||||||||||
Released | (2.3 | ) | 7.83 | |||||||||||||||||||
Canceled | (1.1 | ) | 8.87 | |||||||||||||||||||
Nonvested shares of restricted stock units at December 31, 2013 | 10.8 | $ | 8.52 | |||||||||||||||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | ||||||||||||||||
Summary Of Net Periodic Pension Cost | ' | ||||||||||||||||
The following is a summary of the status of the Company's foreign defined benefit pension plans and the net periodic pension cost (dollars in millions): | |||||||||||||||||
Year Ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Service cost | $ | 12.2 | $ | 7.5 | $ | 9.4 | |||||||||||
Interest cost | 6.6 | 5.3 | 5.2 | ||||||||||||||
Expected return on plan assets | (4.1 | ) | (3.5 | ) | (4.0 | ) | |||||||||||
Amortization of prior service cost | — | 0.1 | 2.6 | ||||||||||||||
Curtailment (gain) loss | (15.6 | ) | (6.6 | ) | 2 | ||||||||||||
Actuarial and other loss (gain) | 6.2 | 12.5 | (3.1 | ) | |||||||||||||
Total net periodic pension cost | $ | 5.3 | $ | 15.3 | $ | 12.1 | |||||||||||
Weighted average assumptions | |||||||||||||||||
Discount rate | 2.14 | % | 2.44 | % | 3.5 | % | |||||||||||
Expected return on plan assets | 2.18 | % | 3.21 | % | 4.07 | % | |||||||||||
Rate of compensation increase | 3.17 | % | 3.05 | % | 4.66 | % | |||||||||||
Summary Of Status Of Foreign Pension Plans | ' | ||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Change in projected benefit obligation | |||||||||||||||||
Projected benefit obligation at the beginning of the year | $ | 379.8 | $ | 176.4 | |||||||||||||
Benefit obligation assumed upon withdrawal from Systems Solutions Group multi-employer plans | — | 214.5 | |||||||||||||||
Service cost | 12.2 | 7.5 | |||||||||||||||
Interest cost | 6.6 | 5.3 | |||||||||||||||
Net actuarial loss | 14.3 | 13.9 | |||||||||||||||
Benefits paid by plan assets | (22.3 | ) | (13.3 | ) | |||||||||||||
Benefits paid by the Company | (32.1 | ) | (11.4 | ) | |||||||||||||
Curtailment gain | (15.6 | ) | (6.6 | ) | |||||||||||||
Translation gain and other | (50.6 | ) | (6.5 | ) | |||||||||||||
Projected benefit obligation at the end of the year | $ | 292.3 | $ | 379.8 | |||||||||||||
Accumulated benefit obligation at the end of the year | $ | 254.9 | $ | 281.2 | |||||||||||||
Change in plan assets | |||||||||||||||||
Fair value of plan assets at the beginning of the year | $ | 178.4 | $ | 105.5 | |||||||||||||
Assets assumed due to withdrawal from multi-employer plans | — | 83.6 | |||||||||||||||
Transfer to defined contribution plan | — | (7.5 | ) | ||||||||||||||
Actual return on plan assets | 12.2 | 5.4 | |||||||||||||||
Benefits paid from plan assets | (22.3 | ) | (13.3 | ) | |||||||||||||
Employer contributions | 16.2 | 6.6 | |||||||||||||||
Translation and other loss | (21.1 | ) | (1.9 | ) | |||||||||||||
Fair value of plan assets at the end of the year | $ | 163.4 | $ | 178.4 | |||||||||||||
Plans with underfunded or non-funded accumulated benefit obligation | |||||||||||||||||
Aggregate accumulated benefit obligation | $ | 220.7 | $ | 248.8 | |||||||||||||
Aggregate fair value of plan assets | $ | 116.2 | $ | 124.8 | |||||||||||||
Amounts recognized in the balance sheet consist of | |||||||||||||||||
Non-current assets | $ | 0.6 | $ | 0.2 | |||||||||||||
Current liabilities | (10.4 | ) | (7.4 | ) | |||||||||||||
Non-current liabilities | (119.1 | ) | (194.2 | ) | |||||||||||||
Funded status | $ | (128.9 | ) | $ | (201.4 | ) | |||||||||||
Amounts recognized in accumulated other comprehensive income consist of | |||||||||||||||||
Prior service cost | $ | — | $ | 0.1 | |||||||||||||
Weighted average assumptions at the end of the year | |||||||||||||||||
Discount rate | 2.14 | % | 2.44 | % | |||||||||||||
Rate of compensation increase | 3.17 | % | 3.05 | % | |||||||||||||
Fair Value Measurement Of Plan Assets | ' | ||||||||||||||||
The fair value measurement of plan assets in the Company's foreign pension plans as of December 31, 2013 and 2012, was as follows (in millions): | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Total | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||||
Asset Category | |||||||||||||||||
Cash/Money Markets | $ | 7.5 | $ | 7.5 | $ | — | $ | — | |||||||||
Foreign Government/Treasury Securities (1) | 8.7 | 7.8 | 0.9 | — | |||||||||||||
Corporate Bonds, Debentures (2) | 36.8 | 17.9 | 18 | 0.9 | |||||||||||||
Equity Securities (3) | 29.4 | 19.9 | 9.5 | — | |||||||||||||
Mutual Funds | 5.8 | — | 5.8 | — | |||||||||||||
Investment and Insurance Annuity Contracts (4) | 75.2 | — | 27.3 | 47.9 | |||||||||||||
$ | 163.4 | $ | 53.1 | $ | 61.5 | $ | 48.8 | ||||||||||
December 31, 2012 | |||||||||||||||||
Total | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||||
Asset Category | |||||||||||||||||
Cash/Money Markets | $ | 111.4 | $ | 111.4 | $ | — | $ | — | |||||||||
Foreign Government/Treasury Securities (1) | 12.6 | 9 | 3.6 | — | |||||||||||||
Corporate Bonds, Debentures (2) | 4.4 | 0.4 | 0.7 | 3.3 | |||||||||||||
Mutual Funds | 4.6 | — | 4.6 | — | |||||||||||||
Investment and Insurance Annuity Contracts (4) | 45.4 | — | 0.7 | 44.7 | |||||||||||||
$ | 178.4 | $ | 120.8 | $ | 9.6 | $ | 48 | ||||||||||
-1 | Includes investments primarily in guaranteed return securities. | ||||||||||||||||
-2 | Includes investments in government bonds and corporate bonds of developed countries, emerging market government bonds, emerging market corporate bonds and convertible bonds. | ||||||||||||||||
-3 | Includes investments in equity securities of developed countries and emerging markets. | ||||||||||||||||
-4 | Includes certain investments with insurance companies which guarantee a minimum rate of return on the investment. | ||||||||||||||||
Activity Of Plan Assets With Fair Value Measurement Using Significant Unobservable Inputs | ' | ||||||||||||||||
Activity during the year ended December 31, 2013 for plan assets with fair value measurement using significant unobservable inputs (Level 3) was as follows (in millions): | |||||||||||||||||
Corporate Bonds, Debentures | Investment and Insurance Contacts | Total | |||||||||||||||
Balance at December 31, 2011 | $ | 4.1 | $ | 1 | $ | 5.1 | |||||||||||
Purchase, sales and settlements | (1.2 | ) | (0.3 | ) | (1.5 | ) | |||||||||||
Transfers in and/or out of Level 3 | 0.4 | 44 | 44.4 | ||||||||||||||
Balance at December 31, 2012 | $ | 3.3 | $ | 44.7 | $ | 48 | |||||||||||
Actual return on plan assets | — | 3.5 | 3.5 | ||||||||||||||
Purchase, sales and settlements | (2.4 | ) | (0.3 | ) | (2.7 | ) | |||||||||||
Balance at December 31, 2013 | $ | 0.9 | $ | 47.9 | $ | 48.8 | |||||||||||
Expected Benefit Payments | ' | ||||||||||||||||
The expected benefit payments for the Company's defined benefit plans by year from 2014 through 2018 and the five years thereafter are as follows (in millions): | |||||||||||||||||
2014 | $ | 44.4 | |||||||||||||||
2015 | 2.3 | ||||||||||||||||
2016 | 2.3 | ||||||||||||||||
2017 | 2.6 | ||||||||||||||||
2018 | 3.5 | ||||||||||||||||
5 years thereafter | 46.9 | ||||||||||||||||
Total | $ | 102 | |||||||||||||||
Commitments_And_Contingencies_
Commitments And Contingencies (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Operating Leases Future Minimum Payments Receivable | ' | |||
The following is a schedule by year of future minimum lease obligations under non-cancelable operating leases as of December 31, 2013 (in millions): | ||||
Year Ending December 31, | ||||
2014 | $ | 18.4 | ||
2015 | 13.9 | |||
2016 | 10.8 | |||
2017 | 8.7 | |||
2018 | 13.6 | |||
Thereafter | 26 | |||
Total | $ | 91.4 | ||
Fair_Value_Of_Financial_Instru
Fair Value Of Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract] | ' | ||||||||||||||||||||||||
Fair Value Of Assets And Liabilities Measured On Recurring Basis | ' | ||||||||||||||||||||||||
The following table summarizes the Company's financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 and December 31, 2012 (in millions): | |||||||||||||||||||||||||
Description | Balance as of December 31, 2013 | Quoted Prices in | Balance as of December 31, 2012 | Quoted Prices in | |||||||||||||||||||||
Active Markets (Level 1) | Active Markets (Level 1) | ||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Cash and cash equivalents: | |||||||||||||||||||||||||
Demand and time deposits | $ | 447.5 | $ | 447.5 | $ | 385.9 | $ | 385.9 | |||||||||||||||||
Money market funds | 62 | 62 | — | — | |||||||||||||||||||||
Treasury securities | — | — | 100.7 | 100.7 | |||||||||||||||||||||
Corporate bonds | — | — | 0.3 | 0.3 | |||||||||||||||||||||
Other Current Assets: | |||||||||||||||||||||||||
Foreign currency exchange contracts | $ | — | $ | — | $ | 3.2 | $ | 3.2 | |||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Foreign currency exchange contracts | $ | 0.1 | $ | 0.1 | $ | — | $ | — | |||||||||||||||||
Held-to-maturity Securities | ' | ||||||||||||||||||||||||
Short-term investments classified as held-to-maturity as of the years ended December 31, 2013 and 2012, respectively, were as follows (in millions): | |||||||||||||||||||||||||
Balance at December 31, 2013 | Balance at December 31, 2012 | ||||||||||||||||||||||||
Carried at Amortized Cost | Unrealized Gain/(Loss) | Fair Value | Carried at Amortized Cost | Unrealized Gain/(Loss) | Fair Value | ||||||||||||||||||||
Short-term investments-held-to-maturity: | |||||||||||||||||||||||||
Commercial paper | $ | 15.5 | $ | — | $ | 15.5 | $ | 25.5 | $ | — | $ | 25.5 | |||||||||||||
Corporate bonds | 93.7 | — | 93.7 | 119.3 | (0.1 | ) | 119.2 | ||||||||||||||||||
Government agencies | 7 | — | 7 | — | — | — | |||||||||||||||||||
$ | 116.2 | $ | — | $ | 116.2 | $ | 144.8 | $ | (0.1 | ) | $ | 144.7 | |||||||||||||
Fair Value, by Balance Sheet Grouping | ' | ||||||||||||||||||||||||
The carrying amounts and fair values of the Company’s long-term borrowings (excluding capital lease obligations, real estate mortgages and equipment financing) at December 31, 2013 and December 31, 2012 are as follows (in millions): | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Carrying Amount | Fair Value | Carrying | Fair Value | ||||||||||||||||||||||
Amount | |||||||||||||||||||||||||
Long-term debt, including current portion | |||||||||||||||||||||||||
Convertible Notes | $ | 335.2 | $ | 392.6 | $ | 473.1 | $ | 530.9 | |||||||||||||||||
Long-term debt | $ | 510.2 | $ | 511.4 | $ | 403.9 | $ | 380.6 | |||||||||||||||||
Fair Value Measurements, Nonrecurring | ' | ||||||||||||||||||||||||
The following table shows the fair value of certain of the Company's non-financial assets included in its Consolidated Balance Sheet as of December 31, 2013 and December 31, 2012 that were remeasured at fair value on a nonrecurring basis (in millions): | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||
Nonrecurring fair value measurements | |||||||||||||||||||||||||
Property, plant and equipment (Level 3) | $ | 8.7 | $ | 134.1 | |||||||||||||||||||||
Intangible assets (Level 3) | — | 8.2 | |||||||||||||||||||||||
$ | 8.7 | $ | 142.3 | ||||||||||||||||||||||
The following table shows the adjustments to fair value of certain of the Company's non-financial assets that had an impact on the Company's results of operations during the years ended December 31, 2013 and December 31, 2012 (in millions): | |||||||||||||||||||||||||
Year Ended | |||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||
Nonrecurring fair value measurements | |||||||||||||||||||||||||
Impairment of property, plant and equipment held for use or disposal (Level 3) | $ | 8 | $ | 103 | |||||||||||||||||||||
Goodwill impairment (Level 3) | — | 14.1 | |||||||||||||||||||||||
Intangible asset impairments (level 3) | — | 35.4 | |||||||||||||||||||||||
$ | 8 | $ | 152.5 | ||||||||||||||||||||||
Financial_Instruments_Tables
Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Investments, All Other Investments [Abstract] | ' | ||||||||||||||||
Schedule Of Net Foreign Exchange Positions | ' | ||||||||||||||||
The following schedule shows the Company's net foreign exchange positions in U.S. dollars as of December 31, 2013 and 2012 (in millions): | |||||||||||||||||
December 31, | |||||||||||||||||
2013 Buy (Sell) | 2013 Notional Amount | 2012 Buy (Sell) | 2012 Notional Amount | ||||||||||||||
Euro | $ | (30.5 | ) | $ | 30.5 | $ | (17.4 | ) | $ | 17.4 | |||||||
Japanese Yen | (6.7 | ) | 6.7 | (123.3 | ) | 123.3 | |||||||||||
Malaysian Ringgit | 35.8 | 35.8 | 32.7 | 32.7 | |||||||||||||
Philippine Peso | 11.7 | 11.7 | 4.2 | 4.2 | |||||||||||||
Other currencies | 10.6 | 17 | (1.5 | ) | 19.7 | ||||||||||||
$ | 20.9 | $ | 101.7 | $ | (105.3 | ) | $ | 197.3 | |||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income (Loss) Before Income Taxes And Minority Interests | ' | |||||||||||
The Company's geographic sources of income (loss) before income taxes and non-controlling interest are as follows (in millions): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
United States | $ | (76.8 | ) | $ | (72.0 | ) | $ | (143.9 | ) | |||
Foreign | 257.7 | (0.9 | ) | 181.7 | ||||||||
$ | 180.9 | $ | (72.9 | ) | $ | 37.8 | ||||||
Provision (Benefit) For Income Taxes | ' | |||||||||||
provision for income taxes is as follows (in millions): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | (0.4 | ) | $ | 0.2 | $ | 0.5 | |||||
State and local | 0.3 | (0.1 | ) | 0.3 | ||||||||
Foreign | 15.9 | 16.4 | 25 | |||||||||
15.8 | 16.5 | 25.8 | ||||||||||
Deferred: | ||||||||||||
Federal | 13.2 | — | — | |||||||||
Foreign | (2.1 | ) | (3.1 | ) | (2.9 | ) | ||||||
11.1 | (3.1 | ) | (2.9 | ) | ||||||||
$ | 26.9 | $ | 13.4 | $ | 22.9 | |||||||
Reconciliation Of The U.S. Federal Statutory Income Tax Rate | ' | |||||||||||
A reconciliation of the U.S. federal statutory income tax rate to the Company's effective income tax rate is as follows: | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
U.S. federal statutory rate | 35 | % | 35 | % | 35 | % | ||||||
Increase (decrease) resulting from: | ||||||||||||
State and local taxes, net of federal tax benefit | 0.2 | 0.1 | 0.7 | |||||||||
Foreign withholding taxes | — | (0.3 | ) | 0.1 | ||||||||
Foreign rate differential | (38.5 | ) | 10.4 | (588.0 | ) | |||||||
Dividend income from foreign subsidiaries | 10.6 | (62.7 | ) | 146.1 | ||||||||
Goodwill impairment | — | (6.8 | ) | — | ||||||||
Gain on SANYO Semiconductor Transaction | — | — | (22.5 | ) | ||||||||
Change in valuation allowance | 8.2 | (1.6 | ) | 491.5 | ||||||||
Tax reserves | (0.9 | ) | (2.3 | ) | 0.8 | |||||||
Return to accrual | (0.1 | ) | 12.3 | — | ||||||||
Other | 0.4 | (2.5 | ) | (3.1 | ) | |||||||
14.9 | % | (18.4 | ) | % | 60.6 | % | ||||||
Tax Effects Of Temporary Differences | ' | |||||||||||
The tax effects of temporary differences in the recognition of income and expense for tax and financial reporting purposes that give rise to significant portions of the deferred tax assets, net of deferred tax liabilities as of December 31, 2013 and December 31, 2012, are as follows (in millions): | ||||||||||||
Year ended December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Net operating loss and tax credit carryforwards | $ | 1,023.90 | $ | 952 | ||||||||
Tax-deductible goodwill and amortizable intangibles | (7.7 | ) | 18.2 | |||||||||
Reserves and accruals | 82.5 | 98.8 | ||||||||||
Property, plant and equipment | 81.4 | 147.2 | ||||||||||
Inventories | 28.1 | 83.8 | ||||||||||
Other | 105.2 | 116 | ||||||||||
Deferred tax assets and liabilities before valuation allowance | 1,313.40 | 1,416.00 | ||||||||||
Valuation allowance | (1,327.2 | ) | (1,420.1 | ) | ||||||||
Net deferred tax asset (liability) | $ | (13.8 | ) | $ | (4.1 | ) | ||||||
Activity For Unrecognized Gross Tax Benefits | ' | |||||||||||
The activity for unrecognized gross tax benefits for 2013, 2012, and 2011 (in millions) is as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Balance at beginning of year | $ | 34.8 | $ | 18.6 | $ | 13.4 | ||||||
Reserves acquired | — | — | 1.3 | |||||||||
Additions based on tax positions related to the current year | 0.7 | 18.4 | 5.5 | |||||||||
Additions for tax positions of prior years | — | — | 0.8 | |||||||||
Reductions for tax positions of prior years | (10.9 | ) | (0.8 | ) | (1.4 | ) | ||||||
Lapse of statute | (3.7 | ) | (1.2 | ) | (1.0 | ) | ||||||
Settlements | — | (0.2 | ) | — | ||||||||
Balance at end of year | $ | 20.9 | $ | 34.8 | $ | 18.6 | ||||||
Changes_in_Accumulated_Other_C1
Changes in Accumulated Other Comprehensive Loss - (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Loss | ' | ||||||||||||||||||||
Amounts comprising the Company's accumulated other comprehensive loss and reclassifications for the year ended December 31, 2013 are as follows (net of tax of $0, in millions): | |||||||||||||||||||||
Foreign Currency Translation Adjustments | Defined Benefit Pension Items | Effects of Cash Flow Hedges | Unrealized Gains and Losses on Available-for-Sale Securities | Total | |||||||||||||||||
Balance as of December 31, 2012 | $ | (42.2 | ) | $ | (0.1 | ) | $ | 0.8 | $ | 0.4 | $ | (41.1 | ) | ||||||||
Other comprehensive income (loss) prior to reclassifications | 17.2 | 0.1 | (0.1 | ) | — | 17.2 | |||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | (21.0 | ) | — | (2.5 | ) | — | (23.5 | ) | |||||||||||||
Net current period other comprehensive loss | (3.8 | ) | 0.1 | (2.6 | ) | — | (6.3 | ) | |||||||||||||
Balance as of December 31, 2013 | $ | (46.0 | ) | $ | — | $ | (1.8 | ) | $ | 0.4 | $ | (47.4 | ) | ||||||||
Schedule of Reclassifications from Accumulated Other Comprehensive Loss | ' | ||||||||||||||||||||
Amounts which were reclassified from accumulated other comprehensive loss to the Company's Consolidated Statements of Operations and Comprehensive Income during the year ended December 31, 2013 were as follows (net of tax of $0, in millions): | |||||||||||||||||||||
Amounts Reclassified from Accumulated Other Comprehensive Loss | Affected Line Item Where Net Income is Presented | ||||||||||||||||||||
Foreign currency translation adjustments | $ | (21.0 | ) | Restructuring, asset impairments and other, net | |||||||||||||||||
Effects of cash flow hedges | (2.5 | ) | Other income and expense | ||||||||||||||||||
Total reclassifications | $ | (23.5 | ) | ||||||||||||||||||
Supplemental_Disclosures_Table
Supplemental Disclosures (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||||||
Schedule of Cash Flow, Supplemental Disclosures | ' | ||||||||||||
The Company's non-cash financing activities and cash payments for interest and income taxes during the years ended December 31, 2013, 2012 and 2011 are as follows (in millions): | |||||||||||||
Year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Non-cash financing activities: | |||||||||||||
Capital expenditures in accounts payable | $ | 55.8 | $ | 54.4 | $ | 58.8 | |||||||
Equipment acquired or refinanced through capital leases | 3.8 | 31 | 24.9 | ||||||||||
Cash (received) paid for: | |||||||||||||
Interest income | $ | (1.3 | ) | $ | (1.5 | ) | $ | (1.1 | ) | ||||
Interest expense | 24.8 | 30.4 | 31.8 | ||||||||||
Income taxes | 12.9 | 17.6 | 20.4 | ||||||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | ||||||||||||||||
Schedule of Segments and Product Lines | ' | ||||||||||||||||
Application Products Group | Standard Products Group | System Solutions Group | |||||||||||||||
Automotive ASSPs | Bipolar Power | Power MOSFETs | |||||||||||||||
Analog Automotive | Thyristor | IGBTs | |||||||||||||||
Automotive Power Switching | Small Signal | Power and Signal Discretes | |||||||||||||||
Automotive Mixed-Signal solutions | Zener | Intelligent Power Modules | |||||||||||||||
Medical ASICs & ASSPs | Protection | Motor Driver ICs | |||||||||||||||
Linear Light Sensors | Rectifier | Display Drivers | |||||||||||||||
CMOS Image Sensors | Filters | ASICs | |||||||||||||||
Mixed Signal ASICs | MOSFETs | Microcontrollers | |||||||||||||||
Industrial ASSPs | Signal & Interface | Flash Memory | |||||||||||||||
High Frequency / Timing | Standard Logic | Touch Sensor | |||||||||||||||
IPDs | LDO's & VREGs | Power Supply IC | |||||||||||||||
Foundry and Manufacturing Services | EE Memory and Programmable Analog | Audio DSP | |||||||||||||||
Hearing Components | IGBTs | Audio Tuners | |||||||||||||||
DC-DC Conversion | Image Stabilizer ICs | ||||||||||||||||
Analog Switches | Auto Focus ICs | ||||||||||||||||
AC-DC Conversion | |||||||||||||||||
Low Voltage Power Management | |||||||||||||||||
Power Switching | |||||||||||||||||
RF Antenna Tuning Solutions | |||||||||||||||||
Segment Information Of Revenues, Gross Profit And Operating Income | ' | ||||||||||||||||
Revenues, gross profit and operating income for the Company’s reportable segments for the years ended December 31, 2013, December 31, 2012 and December 31, 2011, respectively, are as follows (in millions): | |||||||||||||||||
Application Products Group | Standard | System Solutions Group | Total | ||||||||||||||
Products | |||||||||||||||||
Group | |||||||||||||||||
For year ended December 31, 2013: | |||||||||||||||||
Revenues from external customers | $ | 1,036.30 | $ | 1,121.20 | $ | 625.2 | $ | 2,782.70 | |||||||||
Segment gross profit | 455.6 | 390.7 | 103.4 | 949.7 | |||||||||||||
Segment operating income (loss) | 110.6 | 228.2 | (66.3 | ) | 272.5 | ||||||||||||
For year ended December 31, 2012: | |||||||||||||||||
Revenues from external customers | $ | 1,019.20 | $ | 1,104.70 | $ | 771 | $ | 2,894.90 | |||||||||
Segment gross profit | 459.2 | 400.9 | 143.1 | 1,003.20 | |||||||||||||
Segment operating income (loss) | 111.2 | 240 | (91.8 | ) | 259.4 | ||||||||||||
For year ended December 31, 2011: | |||||||||||||||||
Revenues from external customers | $ | 1,145.50 | $ | 1,236.50 | $ | 1,060.30 | $ | 3,442.30 | |||||||||
Segment gross profit | 549 | 435.7 | 79.1 | 1,063.80 | |||||||||||||
Segment operating income (loss) | 190.8 | 254.6 | (159.4 | ) | 286 | ||||||||||||
Reconciliation Of Operating Profit (Loss) From Segments To Consolidated | ' | ||||||||||||||||
Depreciation and amortization expense is included in segment operating income. Reconciliations of segment gross profit and segment operating income to the financial statements are as follows (in millions): | |||||||||||||||||
Year Ended | |||||||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2011 | |||||||||||||||
Gross profit for reportable segments | $ | 949.7 | $ | 1,003.20 | $ | 1,063.80 | |||||||||||
Unallocated amounts: | |||||||||||||||||
Other unallocated manufacturing costs | (11.3 | ) | (51.3 | ) | (55.0 | ) | |||||||||||
Gross profit | $ | 938.4 | $ | 951.9 | $ | 1,008.80 | |||||||||||
Operating income for reportable segments | $ | 272.5 | $ | 259.4 | $ | 286 | |||||||||||
Unallocated amounts: | |||||||||||||||||
Restructuring and other charges | (33.2 | ) | (165.3 | ) | (102.7 | ) | |||||||||||
Goodwill and intangible impairment | — | (49.5 | ) | — | |||||||||||||
Other unallocated manufacturing costs | (11.3 | ) | (51.3 | ) | (55.0 | ) | |||||||||||
Other unallocated operating expenses | (9.8 | ) | (9.6 | ) | (14.9 | ) | |||||||||||
Operating income (loss) | $ | 218.2 | $ | (16.3 | ) | $ | 113.4 | ||||||||||
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): | |||||||||||||||||
Year Ended | |||||||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2011 | |||||||||||||||
United States | $ | 415.4 | $ | 452 | $ | 524 | |||||||||||
United Kingdom | 400.2 | 388.3 | 424.7 | ||||||||||||||
China | 862.4 | 874.2 | 1,053.80 | ||||||||||||||
Japan | 290.2 | 401.2 | 494.8 | ||||||||||||||
Singapore | 700.6 | 627.7 | 683.3 | ||||||||||||||
Other | 113.9 | 151.5 | 261.7 | ||||||||||||||
$ | 2,782.70 | $ | 2,894.90 | $ | 3,442.30 | ||||||||||||
Summary Of Property, Plant And Equipment By Geographic Location | ' | ||||||||||||||||
Property, plant and equipment, net by geographic location, are summarized as follows (in millions): | |||||||||||||||||
December 31, | December 31, | December 31, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
United States | $ | 255.3 | $ | 274.7 | $ | 257.5 | |||||||||||
Czech Republic | 111.1 | 118 | 91.6 | ||||||||||||||
Malaysia | 213.9 | 185 | 164.5 | ||||||||||||||
Philippines | 173.8 | 188.8 | 204 | ||||||||||||||
Japan | 61.3 | 78.9 | 130.2 | ||||||||||||||
Other | 258.8 | 257.9 | 261.7 | ||||||||||||||
$ | 1,074.20 | $ | 1,103.30 | $ | 1,109.50 | ||||||||||||
Supplementary_Financial_Inform1
Supplementary Financial Information (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Quarterly Financial Information | ' | |||||||||||||||
Consolidated quarterly financial information for 2013 and 2012 follows (in millions, except per share data): | ||||||||||||||||
Quarter ended 2013 | ||||||||||||||||
29-Mar | 28-Jun | 27-Sep | 31-Dec | |||||||||||||
Revenues | $ | 661 | $ | 688.3 | $ | 715.4 | $ | 718 | ||||||||
Gross Profit | 204.5 | 231.8 | 249.2 | 252.9 | ||||||||||||
Net income attributable to ON Semiconductor Corporation (1) | 22.6 | 47.7 | 51.8 | 28.7 | ||||||||||||
Diluted net income per common share attributable to ON Semiconductor Corporation | 0.05 | 0.11 | 0.11 | 0.06 | ||||||||||||
Quarter ended 2012 | ||||||||||||||||
30-Mar | 29-Jun | 28-Sep | 31-Dec | |||||||||||||
Revenues | $ | 744.4 | $ | 744.8 | $ | 725.5 | $ | 680.2 | ||||||||
Gross Profit | 245.2 | 258.3 | 238 | 210.4 | ||||||||||||
Net income (loss) attributable to ON Semiconductor Corporation | 28.2 | 6.9 | 12.5 | (138.2 | ) | |||||||||||
Diluted net income (loss) per common share attributable to ON Semiconductor Corporation | 0.06 | 0.02 | 0.03 | (0.31 | ) | |||||||||||
Recovered_Sheet1
Guarantor and Non-Guarantor Statements (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Guarantor And Non-Guarantor Statements [Abstract] | ' | |||||||||||||||||||||||
Notes To Consolidated Statement Of Balance Sheet | ' | |||||||||||||||||||||||
Condensed consolidating financial information for the issuer of the Convertible Notes, the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries is as follows (in millions): | ||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | ||||||||||||||||||||||||
AS OF DECEMBER 31, 2013 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuer | Guarantor | |||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 267.9 | $ | — | $ | 241.6 | $ | — | $ | 509.5 | ||||||||||||
Short-term investments | — | 116.2 | — | — | — | 116.2 | ||||||||||||||||||
Receivables, net | — | 49.8 | — | 333.6 | — | 383.4 | ||||||||||||||||||
Inventories | — | 46.7 | — | 562.1 | 3 | 611.8 | ||||||||||||||||||
Short-term intercompany receivables | — | — | 4.1 | 7.6 | (11.7 | ) | — | |||||||||||||||||
Other current assets | — | 17.8 | — | 71.5 | — | 89.3 | ||||||||||||||||||
Total current assets | — | 498.4 | 4.1 | 1,216.40 | (8.7 | ) | 1,710.20 | |||||||||||||||||
Property, plant and equipment, net | — | 252.3 | 3.1 | 820.6 | (1.8 | ) | 1,074.20 | |||||||||||||||||
Goodwill | — | 111.5 | 37.3 | 35.8 | — | 184.6 | ||||||||||||||||||
Intangible assets, net | — | 113 | — | 132.2 | (21.8 | ) | 223.4 | |||||||||||||||||
Long-term intercompany receivables | — | — | — | 3.3 | (3.3 | ) | — | |||||||||||||||||
Other assets | 1,790.20 | 1,600.60 | 136.1 | 837.3 | (4,299.6 | ) | 64.6 | |||||||||||||||||
Total assets | $ | 1,790.20 | $ | 2,575.80 | $ | 180.6 | $ | 3,045.60 | $ | (4,335.2 | ) | $ | 3,257.00 | |||||||||||
Accounts payable | $ | — | $ | 39.1 | $ | 0.5 | $ | 237.2 | $ | — | $ | 276.8 | ||||||||||||
Accrued expenses | 1 | 50.8 | 0.2 | 168.3 | — | 220.3 | ||||||||||||||||||
Deferred income on sales to distributors | — | 32.3 | — | 108.2 | — | 140.5 | ||||||||||||||||||
Current portion of long-term debt | — | 79.3 | — | 102.3 | — | 181.6 | ||||||||||||||||||
Short-term intercompany payables | — | 11.7 | — | — | (11.7 | ) | — | |||||||||||||||||
Total current liabilities | 1 | 213.2 | 0.7 | 616 | (11.7 | ) | 819.2 | |||||||||||||||||
Long-term debt | 335.2 | 396.1 | — | 29.3 | — | 760.6 | ||||||||||||||||||
Other long-term liabilities | — | 42.2 | 0.1 | 148.1 | — | 190.4 | ||||||||||||||||||
Long-term intercompany payables | — | 3.3 | — | — | (3.3 | ) | — | |||||||||||||||||
Total liabilities | 336.2 | 654.8 | 0.8 | 793.4 | (15.0 | ) | 1,770.20 | |||||||||||||||||
Common stock | 5.2 | 0.3 | 50.9 | 201.6 | (252.8 | ) | 5.2 | |||||||||||||||||
Additional paid-in capital | 3,210.80 | 2,335.10 | 259.8 | 1,402.60 | (3,997.5 | ) | 3,210.80 | |||||||||||||||||
Accumulated other comprehensive loss | (47.4 | ) | (49.2 | ) | — | (38.6 | ) | 87.8 | (47.4 | ) | ||||||||||||||
Accumulated deficit | (1,142.1 | ) | (365.2 | ) | (130.9 | ) | 686.6 | (190.5 | ) | (1,142.1 | ) | |||||||||||||
Less: treasury stock, at cost | (572.5 | ) | — | — | — | — | (572.5 | ) | ||||||||||||||||
Total ON Semiconductor Corporation stockholders’ equity | 1,454.00 | 1,921.00 | 179.8 | 2,252.20 | (4,353.0 | ) | 1,454.00 | |||||||||||||||||
Non-controlling interest in consolidated subsidiary | — | — | — | — | 32.8 | 32.8 | ||||||||||||||||||
Total equity | 1,454.00 | 1,921.00 | 179.8 | 2,252.20 | (4,320.2 | ) | 1,486.80 | |||||||||||||||||
Total liabilities and equity | $ | 1,790.20 | $ | 2,575.80 | $ | 180.6 | $ | 3,045.60 | $ | (4,335.2 | ) | $ | 3,257.00 | |||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | ||||||||||||||||||||||||
AS OF DECEMBER 31, 2012 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuer | Guarantor | |||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 212.1 | $ | — | $ | 274.8 | $ | — | $ | 486.9 | ||||||||||||
Short-term investments | — | 144.8 | — | — | — | 144.8 | ||||||||||||||||||
Receivables, net | — | 45.4 | — | 312.4 | — | 357.8 | ||||||||||||||||||
Inventories | — | 34.5 | — | 578.4 | (31.2 | ) | 581.7 | |||||||||||||||||
Short-term intercompany receivables | — | — | 3.3 | 17.2 | (20.5 | ) | — | |||||||||||||||||
Other current assets | — | 12.9 | — | 109.3 | — | 122.2 | ||||||||||||||||||
Total current assets | — | 449.7 | 3.3 | 1,292.10 | (51.7 | ) | 1,693.40 | |||||||||||||||||
Property, plant and equipment, net | — | 272 | 2.8 | 830.9 | (2.4 | ) | 1,103.30 | |||||||||||||||||
Goodwill | — | 111.7 | 37.2 | 35.7 | — | 184.6 | ||||||||||||||||||
Intangible assets, net | — | 128.2 | — | 154.7 | (25.9 | ) | 257 | |||||||||||||||||
Long-term intercompany receivables | — | 166.3 | — | — | (166.3 | ) | — | |||||||||||||||||
Other assets | 1,834.60 | 1,431.50 | 129.5 | 846.2 | (4,151.7 | ) | 90.1 | |||||||||||||||||
Total assets | $ | 1,834.60 | $ | 2,559.40 | $ | 172.8 | $ | 3,159.60 | $ | (4,398.0 | ) | $ | 3,328.40 | |||||||||||
Accounts payable | $ | — | $ | 24.1 | $ | — | $ | 255.4 | $ | — | $ | 279.5 | ||||||||||||
Accrued expenses | 0.5 | 53 | 0.9 | 177.8 | 24.5 | 256.7 | ||||||||||||||||||
Deferred income on sales to distributors | — | 34.2 | — | 100.3 | — | 134.5 | ||||||||||||||||||
Current portion of long-term debt | 198.9 | 80.2 | 0.1 | 74.4 | — | 353.6 | ||||||||||||||||||
Short-term intercompany payables | — | 20.4 | — | 0.1 | (20.5 | ) | — | |||||||||||||||||
Total current liabilities | 199.4 | 211.9 | 1 | 608 | 4 | 1,024.30 | ||||||||||||||||||
Long-term debt | 274.1 | 344.1 | — | 40.1 | — | 658.3 | ||||||||||||||||||
Other long-term liabilities | — | 29.9 | 0.3 | 224.9 | — | 255.1 | ||||||||||||||||||
Long-term intercompany payables | — | — | — | 166.3 | (166.3 | ) | — | |||||||||||||||||
Total liabilities | 473.5 | 585.9 | 1.3 | 1,039.30 | (162.3 | ) | 1,937.70 | |||||||||||||||||
Common stock | 5.1 | 0.3 | 50.9 | 201.6 | (252.8 | ) | 5.1 | |||||||||||||||||
Additional paid-in capital | 3,156.40 | 2,549.30 | 259.2 | 1,402.90 | (4,211.4 | ) | 3,156.40 | |||||||||||||||||
Accumulated other comprehensive loss | (41.1 | ) | (41.0 | ) | — | (34.6 | ) | 75.6 | (41.1 | ) | ||||||||||||||
Accumulated deficit | (1,292.9 | ) | (535.1 | ) | (138.6 | ) | 550.4 | 123.3 | (1,292.9 | ) | ||||||||||||||
Less: treasury stock, at cost | (466.4 | ) | — | — | — | — | (466.4 | ) | ||||||||||||||||
Total ON Semiconductor Corporation stockholders’ equity | 1,361.10 | 1,973.50 | 171.5 | 2,120.30 | (4,265.3 | ) | 1,361.10 | |||||||||||||||||
Non-controlling interest in consolidated subsidiary | — | — | — | — | 29.6 | 29.6 | ||||||||||||||||||
Total equity | 1,361.10 | 1,973.50 | 171.5 | 2,120.30 | (4,235.7 | ) | 1,390.70 | |||||||||||||||||
Total liabilities and equity | $ | 1,834.60 | $ | 2,559.40 | $ | 172.8 | $ | 3,159.60 | $ | (4,398.0 | ) | $ | 3,328.40 | |||||||||||
Notes to Consolidated Statement of Operations and Comprehensive Income | ' | |||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | ||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2013 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuer | Guarantor | |||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Revenues | $ | — | $ | 684.2 | $ | 13.8 | $ | 4,142.30 | $ | (2,057.6 | ) | $ | 2,782.70 | |||||||||||
Cost of revenues | — | 516.4 | 0.6 | 3,419.10 | (2,091.8 | ) | 1,844.30 | |||||||||||||||||
Gross profit | — | 167.8 | 13.2 | 723.2 | 34.2 | 938.4 | ||||||||||||||||||
Operating expenses: | ||||||||||||||||||||||||
Research and development | — | 77.2 | 10.9 | 246.1 | — | 334.2 | ||||||||||||||||||
Selling and marketing | — | 71.4 | 0.7 | 99.1 | — | 171.2 | ||||||||||||||||||
General and administrative | — | 32.6 | 0.8 | 115.1 | — | 148.5 | ||||||||||||||||||
Amortization of acquisition-related intangible assets | — | 15.2 | — | 22.1 | (4.2 | ) | 33.1 | |||||||||||||||||
Restructuring, asset impairments and other, net | — | 1.2 | — | 32 | — | 33.2 | ||||||||||||||||||
Total operating expenses | — | 197.6 | 12.4 | 514.4 | (4.2 | ) | 720.2 | |||||||||||||||||
Operating income (loss) | — | (29.8 | ) | 0.8 | 208.8 | 38.4 | 218.2 | |||||||||||||||||
Other income (expenses), net: | ||||||||||||||||||||||||
Interest expense | (23.0 | ) | (10.5 | ) | — | (5.1 | ) | — | (38.6 | ) | ||||||||||||||
Interest income | — | 0.4 | — | 0.9 | — | 1.3 | ||||||||||||||||||
Other | — | (11.5 | ) | — | 14.6 | — | 3.1 | |||||||||||||||||
Loss on debt repurchase or exchange | (3.1 | ) | — | — | — | — | (3.1 | ) | ||||||||||||||||
Equity in earnings | 176.9 | 232.6 | 7.4 | — | (416.9 | ) | — | |||||||||||||||||
Other income (expenses), net | 150.8 | 211 | 7.4 | 10.4 | (416.9 | ) | (37.3 | ) | ||||||||||||||||
Income before income taxes | 150.8 | 181.2 | 8.2 | 219.2 | (378.5 | ) | 180.9 | |||||||||||||||||
Income tax provision | — | (11.4 | ) | — | (15.5 | ) | — | (26.9 | ) | |||||||||||||||
Net income | 150.8 | 169.8 | 8.2 | 203.7 | (378.5 | ) | 154 | |||||||||||||||||
Net income attributable to non-controlling interest | — | — | — | — | (3.2 | ) | (3.2 | ) | ||||||||||||||||
Net income attributable to ON Semiconductor Corporation | $ | 150.8 | $ | 169.8 | $ | 8.2 | $ | 203.7 | $ | (381.7 | ) | $ | 150.8 | |||||||||||
Comprehensive income attributed to ON Semiconductor Corporation | $ | 144.5 | $ | 161.4 | $ | 8.2 | $ | 200.1 | $ | (369.7 | ) | $ | 144.5 | |||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | ||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2012 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuers | Guarantor | |||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Revenues | $ | — | $ | 732.2 | $ | 12.9 | $ | 3,760.90 | $ | (1,611.1 | ) | $ | 2,894.90 | |||||||||||
Cost of revenues | — | 468.1 | 0.6 | 3,052.30 | (1,578.0 | ) | 1,943.00 | |||||||||||||||||
Gross profit | — | 264.1 | 12.3 | 708.6 | (33.1 | ) | 951.9 | |||||||||||||||||
Operating expenses: | ||||||||||||||||||||||||
Research and development | — | 180.3 | 10.3 | 176.9 | — | 367.5 | ||||||||||||||||||
Selling and marketing | — | 68.2 | 0.8 | 111.9 | — | 180.9 | ||||||||||||||||||
General and administrative | — | 5 | 0.6 | 155 | — | 160.6 | ||||||||||||||||||
Amortization of acquisition related intangible assets | — | 18.1 | — | 30.5 | (4.2 | ) | 44.4 | |||||||||||||||||
Restructuring, asset impairments and other, net | — | 3.3 | 0.1 | 161.9 | — | 165.3 | ||||||||||||||||||
Goodwill and intangible asset impairment | — | 20.1 | — | 29.4 | — | 49.5 | ||||||||||||||||||
Total operating expenses | — | 295 | 11.8 | 665.6 | (4.2 | ) | 968.2 | |||||||||||||||||
Operating income (loss) | — | (30.9 | ) | 0.5 | 43 | (28.9 | ) | (16.3 | ) | |||||||||||||||
Other income (expenses), net: | ||||||||||||||||||||||||
Interest expense | (38.0 | ) | (9.0 | ) | — | (9.1 | ) | — | (56.1 | ) | ||||||||||||||
Interest income | — | 0.8 | — | 0.7 | — | 1.5 | ||||||||||||||||||
Other | — | 11.7 | — | (5.9 | ) | — | 5.8 | |||||||||||||||||
Loss on debt repurchase or exchange | (7.8 | ) | — | — | — | — | (7.8 | ) | ||||||||||||||||
Equity in earnings | (44.8 | ) | (25.6 | ) | 10 | — | 60.4 | — | ||||||||||||||||
Other income (expenses), net | (90.6 | ) | (22.1 | ) | 10 | (14.3 | ) | 60.4 | (56.6 | ) | ||||||||||||||
Income (loss) before income taxes | (90.6 | ) | (53.0 | ) | 10.5 | 28.7 | 31.5 | (72.9 | ) | |||||||||||||||
Income tax provision | — | (1.8 | ) | — | (11.6 | ) | — | (13.4 | ) | |||||||||||||||
Net income (loss) | (90.6 | ) | (54.8 | ) | 10.5 | 17.1 | 31.5 | (86.3 | ) | |||||||||||||||
Net income attributable to non-controlling interest | — | — | — | — | (4.3 | ) | (4.3 | ) | ||||||||||||||||
Net income (loss) attributable to ON Semiconductor Corporation | $ | (90.6 | ) | $ | (54.8 | ) | $ | 10.5 | $ | 17.1 | $ | 27.2 | $ | (90.6 | ) | |||||||||
Comprehensive income (loss) attributed to ON Semiconductor Corporation | $ | (85.0 | ) | $ | (49.2 | ) | $ | 10.5 | $ | 21.4 | $ | 17.3 | $ | (85.0 | ) | |||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | ||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2011 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuers | Guarantor | |||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Revenues | $ | — | $ | 788.9 | $ | 13.9 | $ | 3,985.70 | $ | (1,346.2 | ) | $ | 3,442.30 | |||||||||||
Cost of revenues | — | 531.5 | 0.8 | 3,236.40 | (1,335.2 | ) | 2,433.50 | |||||||||||||||||
Gross profit | — | 257.4 | 13.1 | 749.3 | (11.0 | ) | 1,008.80 | |||||||||||||||||
Operating Expenses: | ||||||||||||||||||||||||
Research and development | — | 167.6 | 10.7 | 184.2 | — | 362.5 | ||||||||||||||||||
Selling and marketing | — | 70.4 | 1 | 123.7 | — | 195.1 | ||||||||||||||||||
General and administrative | — | 84 | 0.7 | 107.7 | — | 192.4 | ||||||||||||||||||
Amortization of acquisition related intangible assets | — | 18 | — | 28.8 | (4.1 | ) | 42.7 | |||||||||||||||||
Restructuring, asset impairments and other, net | — | 3.4 | — | 99.3 | — | 102.7 | ||||||||||||||||||
Total operating expenses | — | 343.4 | 12.4 | 543.7 | (4.1 | ) | 895.4 | |||||||||||||||||
Operating income (loss) | — | (86.0 | ) | 0.7 | 205.6 | (6.9 | ) | 113.4 | ||||||||||||||||
Other income (expenses), net: | ||||||||||||||||||||||||
Interest expense | (50.8 | ) | (8.5 | ) | — | (9.6 | ) | — | (68.9 | ) | ||||||||||||||
Interest income | — | 0.4 | — | 0.7 | — | 1.1 | ||||||||||||||||||
Other | — | (3.1 | ) | — | (5.8 | ) | — | (8.9 | ) | |||||||||||||||
Loss on debt repurchase or exchange | (23.2 | ) | — | — | — | — | (23.2 | ) | ||||||||||||||||
Gain on System Solutions Semiconductor acquisition | (0.1 | ) | 24.4 | — | — | — | 24.3 | |||||||||||||||||
Equity in earnings | 85.7 | 151.6 | 7.7 | — | (245.0 | ) | — | |||||||||||||||||
Other income (expenses), net | 11.6 | 164.8 | 7.7 | (14.7 | ) | (245.0 | ) | (75.6 | ) | |||||||||||||||
Income before income taxes | 11.6 | 78.8 | 8.4 | 190.9 | (251.9 | ) | 37.8 | |||||||||||||||||
Income tax benefit (provision) | — | 1.5 | — | (24.4 | ) | — | (22.9 | ) | ||||||||||||||||
Net income | 11.6 | 80.3 | 8.4 | 166.5 | (251.9 | ) | 14.9 | |||||||||||||||||
Net income attributable to non-controlling interest | — | — | — | — | (3.3 | ) | (3.3 | ) | ||||||||||||||||
Net income attributable to ON Semiconductor Corporation | $ | 11.6 | $ | 80.3 | $ | 8.4 | $ | 166.5 | $ | (255.2 | ) | $ | 11.6 | |||||||||||
Comprehensive income attributable to ON Semiconductor Corporation | $ | 24 | $ | 92.6 | $ | 8.4 | $ | 178.9 | $ | (279.9 | ) | $ | 24 | |||||||||||
Notes to Consolidated Statement of Cash Flow | ' | |||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | ||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2013 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuer | Guarantor | |||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Revenues | $ | — | $ | 684.2 | $ | 13.8 | $ | 4,142.30 | $ | (2,057.6 | ) | $ | 2,782.70 | |||||||||||
Cost of revenues | — | 516.4 | 0.6 | 3,419.10 | (2,091.8 | ) | 1,844.30 | |||||||||||||||||
Gross profit | — | 167.8 | 13.2 | 723.2 | 34.2 | 938.4 | ||||||||||||||||||
Operating expenses: | ||||||||||||||||||||||||
Research and development | — | 77.2 | 10.9 | 246.1 | — | 334.2 | ||||||||||||||||||
Selling and marketing | — | 71.4 | 0.7 | 99.1 | — | 171.2 | ||||||||||||||||||
General and administrative | — | 32.6 | 0.8 | 115.1 | — | 148.5 | ||||||||||||||||||
Amortization of acquisition-related intangible assets | — | 15.2 | — | 22.1 | (4.2 | ) | 33.1 | |||||||||||||||||
Restructuring, asset impairments and other, net | — | 1.2 | — | 32 | — | 33.2 | ||||||||||||||||||
Total operating expenses | — | 197.6 | 12.4 | 514.4 | (4.2 | ) | 720.2 | |||||||||||||||||
Operating income (loss) | — | (29.8 | ) | 0.8 | 208.8 | 38.4 | 218.2 | |||||||||||||||||
Other income (expenses), net: | ||||||||||||||||||||||||
Interest expense | (23.0 | ) | (10.5 | ) | — | (5.1 | ) | — | (38.6 | ) | ||||||||||||||
Interest income | — | 0.4 | — | 0.9 | — | 1.3 | ||||||||||||||||||
Other | — | (11.5 | ) | — | 14.6 | — | 3.1 | |||||||||||||||||
Loss on debt repurchase or exchange | (3.1 | ) | — | — | — | — | (3.1 | ) | ||||||||||||||||
Equity in earnings | 176.9 | 232.6 | 7.4 | — | (416.9 | ) | — | |||||||||||||||||
Other income (expenses), net | 150.8 | 211 | 7.4 | 10.4 | (416.9 | ) | (37.3 | ) | ||||||||||||||||
Income before income taxes | 150.8 | 181.2 | 8.2 | 219.2 | (378.5 | ) | 180.9 | |||||||||||||||||
Income tax provision | — | (11.4 | ) | — | (15.5 | ) | — | (26.9 | ) | |||||||||||||||
Net income | 150.8 | 169.8 | 8.2 | 203.7 | (378.5 | ) | 154 | |||||||||||||||||
Net income attributable to non-controlling interest | — | — | — | — | (3.2 | ) | (3.2 | ) | ||||||||||||||||
Net income attributable to ON Semiconductor Corporation | $ | 150.8 | $ | 169.8 | $ | 8.2 | $ | 203.7 | $ | (381.7 | ) | $ | 150.8 | |||||||||||
Comprehensive income attributed to ON Semiconductor Corporation | $ | 144.5 | $ | 161.4 | $ | 8.2 | $ | 200.1 | $ | (369.7 | ) | $ | 144.5 | |||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | ||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2012 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuers | Guarantor | |||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Revenues | $ | — | $ | 732.2 | $ | 12.9 | $ | 3,760.90 | $ | (1,611.1 | ) | $ | 2,894.90 | |||||||||||
Cost of revenues | — | 468.1 | 0.6 | 3,052.30 | (1,578.0 | ) | 1,943.00 | |||||||||||||||||
Gross profit | — | 264.1 | 12.3 | 708.6 | (33.1 | ) | 951.9 | |||||||||||||||||
Operating expenses: | ||||||||||||||||||||||||
Research and development | — | 180.3 | 10.3 | 176.9 | — | 367.5 | ||||||||||||||||||
Selling and marketing | — | 68.2 | 0.8 | 111.9 | — | 180.9 | ||||||||||||||||||
General and administrative | — | 5 | 0.6 | 155 | — | 160.6 | ||||||||||||||||||
Amortization of acquisition related intangible assets | — | 18.1 | — | 30.5 | (4.2 | ) | 44.4 | |||||||||||||||||
Restructuring, asset impairments and other, net | — | 3.3 | 0.1 | 161.9 | — | 165.3 | ||||||||||||||||||
Goodwill and intangible asset impairment | — | 20.1 | — | 29.4 | — | 49.5 | ||||||||||||||||||
Total operating expenses | — | 295 | 11.8 | 665.6 | (4.2 | ) | 968.2 | |||||||||||||||||
Operating income (loss) | — | (30.9 | ) | 0.5 | 43 | (28.9 | ) | (16.3 | ) | |||||||||||||||
Other income (expenses), net: | ||||||||||||||||||||||||
Interest expense | (38.0 | ) | (9.0 | ) | — | (9.1 | ) | — | (56.1 | ) | ||||||||||||||
Interest income | — | 0.8 | — | 0.7 | — | 1.5 | ||||||||||||||||||
Other | — | 11.7 | — | (5.9 | ) | — | 5.8 | |||||||||||||||||
Loss on debt repurchase or exchange | (7.8 | ) | — | — | — | — | (7.8 | ) | ||||||||||||||||
Equity in earnings | (44.8 | ) | (25.6 | ) | 10 | — | 60.4 | — | ||||||||||||||||
Other income (expenses), net | (90.6 | ) | (22.1 | ) | 10 | (14.3 | ) | 60.4 | (56.6 | ) | ||||||||||||||
Income (loss) before income taxes | (90.6 | ) | (53.0 | ) | 10.5 | 28.7 | 31.5 | (72.9 | ) | |||||||||||||||
Income tax provision | — | (1.8 | ) | — | (11.6 | ) | — | (13.4 | ) | |||||||||||||||
Net income (loss) | (90.6 | ) | (54.8 | ) | 10.5 | 17.1 | 31.5 | (86.3 | ) | |||||||||||||||
Net income attributable to non-controlling interest | — | — | — | — | (4.3 | ) | (4.3 | ) | ||||||||||||||||
Net income (loss) attributable to ON Semiconductor Corporation | $ | (90.6 | ) | $ | (54.8 | ) | $ | 10.5 | $ | 17.1 | $ | 27.2 | $ | (90.6 | ) | |||||||||
Comprehensive income (loss) attributed to ON Semiconductor Corporation | $ | (85.0 | ) | $ | (49.2 | ) | $ | 10.5 | $ | 21.4 | $ | 17.3 | $ | (85.0 | ) | |||||||||
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | ||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2011 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuers | Guarantor | |||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Revenues | $ | — | $ | 788.9 | $ | 13.9 | $ | 3,985.70 | $ | (1,346.2 | ) | $ | 3,442.30 | |||||||||||
Cost of revenues | — | 531.5 | 0.8 | 3,236.40 | (1,335.2 | ) | 2,433.50 | |||||||||||||||||
Gross profit | — | 257.4 | 13.1 | 749.3 | (11.0 | ) | 1,008.80 | |||||||||||||||||
Operating Expenses: | ||||||||||||||||||||||||
Research and development | — | 167.6 | 10.7 | 184.2 | — | 362.5 | ||||||||||||||||||
Selling and marketing | — | 70.4 | 1 | 123.7 | — | 195.1 | ||||||||||||||||||
General and administrative | — | 84 | 0.7 | 107.7 | — | 192.4 | ||||||||||||||||||
Amortization of acquisition related intangible assets | — | 18 | — | 28.8 | (4.1 | ) | 42.7 | |||||||||||||||||
Restructuring, asset impairments and other, net | — | 3.4 | — | 99.3 | — | 102.7 | ||||||||||||||||||
Total operating expenses | — | 343.4 | 12.4 | 543.7 | (4.1 | ) | 895.4 | |||||||||||||||||
Operating income (loss) | — | (86.0 | ) | 0.7 | 205.6 | (6.9 | ) | 113.4 | ||||||||||||||||
Other income (expenses), net: | ||||||||||||||||||||||||
Interest expense | (50.8 | ) | (8.5 | ) | — | (9.6 | ) | — | (68.9 | ) | ||||||||||||||
Interest income | — | 0.4 | — | 0.7 | — | 1.1 | ||||||||||||||||||
Other | — | (3.1 | ) | — | (5.8 | ) | — | (8.9 | ) | |||||||||||||||
Loss on debt repurchase or exchange | (23.2 | ) | — | — | — | — | (23.2 | ) | ||||||||||||||||
Gain on System Solutions Semiconductor acquisition | (0.1 | ) | 24.4 | — | — | — | 24.3 | |||||||||||||||||
Equity in earnings | 85.7 | 151.6 | 7.7 | — | (245.0 | ) | — | |||||||||||||||||
Other income (expenses), net | 11.6 | 164.8 | 7.7 | (14.7 | ) | (245.0 | ) | (75.6 | ) | |||||||||||||||
Income before income taxes | 11.6 | 78.8 | 8.4 | 190.9 | (251.9 | ) | 37.8 | |||||||||||||||||
Income tax benefit (provision) | — | 1.5 | — | (24.4 | ) | — | (22.9 | ) | ||||||||||||||||
Net income | 11.6 | 80.3 | 8.4 | 166.5 | (251.9 | ) | 14.9 | |||||||||||||||||
Net income attributable to non-controlling interest | — | — | — | — | (3.3 | ) | (3.3 | ) | ||||||||||||||||
Net income attributable to ON Semiconductor Corporation | $ | 11.6 | $ | 80.3 | $ | 8.4 | $ | 166.5 | $ | (255.2 | ) | $ | 11.6 | |||||||||||
Comprehensive income attributable to ON Semiconductor Corporation | $ | 24 | $ | 92.6 | $ | 8.4 | $ | 178.9 | $ | (279.9 | ) | $ | 24 | |||||||||||
CONDENSED CONSOLIDATING STATEMENT CASH FLOWS | ||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2013 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuer | Guarantor | |||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Net cash provided by operating activities | $ | — | $ | 63.9 | $ | 0.2 | $ | 274.5 | $ | (11.3 | ) | $ | 327.3 | |||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||
Purchases of property, plant and equipment | — | (32.4 | ) | (0.2 | ) | (122.6 | ) | — | (155.2 | ) | ||||||||||||||
Proceeds from sales of property, plant and equipment | — | 0.1 | — | 9.6 | — | 9.7 | ||||||||||||||||||
Deposits made for purchases of property, plant and equipment | — | — | — | (1.3 | ) | — | (1.3 | ) | ||||||||||||||||
Proceeds from held-to maturity securities | — | 224.3 | — | — | — | 224.3 | ||||||||||||||||||
Purchase of held-to-maturity securities | — | (195.7 | ) | — | — | — | (195.7 | ) | ||||||||||||||||
Contribution from subsidiaries | 235.2 | — | — | — | (235.2 | ) | — | |||||||||||||||||
Net cash provided by (used in) investing activities | 235.2 | (3.7 | ) | (0.2 | ) | (114.3 | ) | (235.2 | ) | (118.2 | ) | |||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||
Intercompany loans | — | (812.0 | ) | — | 812 | — | — | |||||||||||||||||
Intercompany loan repayments to guarantor | — | 981.7 | — | (981.7 | ) | — | — | |||||||||||||||||
Payments to parent | — | (246.5 | ) | — | — | 246.5 | — | |||||||||||||||||
Proceeds from issuance of common stock under the employee stock purchase plan | 8.3 | — | — | — | — | 8.3 | ||||||||||||||||||
Proceeds from exercise of stock options | 12.1 | — | — | — | — | 12.1 | ||||||||||||||||||
Payments of tax withholding for restricted shares | (4.5 | ) | — | — | — | — | (4.5 | ) | ||||||||||||||||
Repurchase of common stock | (101.0 | ) | — | — | — | — | (101.0 | ) | ||||||||||||||||
Proceeds from debt issuance | — | 120 | — | 53.7 | — | 173.7 | ||||||||||||||||||
Payment of capital leases obligations | — | (38.2 | ) | — | (3.5 | ) | — | (41.7 | ) | |||||||||||||||
Repayment of long-term debt | (150.1 | ) | (6.2 | ) | — | (61.4 | ) | — | (217.7 | ) | ||||||||||||||
Payments made in connection with debt refinancing | — | (3.2 | ) | — | — | — | (3.2 | ) | ||||||||||||||||
Net cash used in financing activities | (235.2 | ) | (4.4 | ) | — | (180.9 | ) | 246.5 | (174.0 | ) | ||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | (12.5 | ) | — | (12.5 | ) | ||||||||||||||||
Net increase (decrease) in cash and cash equivalents | — | 55.8 | — | (33.2 | ) | — | 22.6 | |||||||||||||||||
Cash and cash equivalents, beginning of period | — | 212.1 | — | 274.8 | — | 486.9 | ||||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | 267.9 | $ | — | $ | 241.6 | $ | — | $ | 509.5 | ||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2012 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuers | Guarantor | |||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Net cash provided by operating activities | $ | — | $ | 45.5 | $ | 0.9 | $ | 242.7 | $ | (13.1 | ) | $ | 276 | |||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||
Purchases of property, plant and equipment | — | (55.0 | ) | (0.7 | ) | (200.6 | ) | — | (256.3 | ) | ||||||||||||||
Proceeds from sale of property, plant and equipment | — | 0.1 | — | 6.1 | — | 6.2 | ||||||||||||||||||
Deposits utilized for purchases of property, plant and equipment | — | — | — | 1.4 | — | 1.4 | ||||||||||||||||||
Recovery from insurance on property, plant and equipment | — | — | — | 11.5 | — | 11.5 | ||||||||||||||||||
Proceeds from held-to-maturity securities | — | 377.6 | — | — | — | 377.6 | ||||||||||||||||||
Purchase of held-to-maturity securities | — | (273.8 | ) | — | — | — | (273.8 | ) | ||||||||||||||||
Contribution from subsidiaries | 167.8 | (7.9 | ) | — | — | (159.9 | ) | — | ||||||||||||||||
Net cash provided by (used in) investing activities | 167.8 | 41 | (0.7 | ) | (181.6 | ) | (159.9 | ) | (133.4 | ) | ||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||
Intercompany loans | — | (524.0 | ) | — | 524 | — | — | |||||||||||||||||
Intercompany loan repayments | — | 562 | — | (562.0 | ) | — | — | |||||||||||||||||
Payments to parent | — | (180.9 | ) | — | 7.9 | 173 | — | |||||||||||||||||
Proceeds from issuance of common stock under the employee stock purchase plan | 8.3 | — | — | — | — | 8.3 | ||||||||||||||||||
Proceeds from exercise of stock options | 9.4 | — | — | — | — | 9.4 | ||||||||||||||||||
Payments of tax withholding for restricted shares | (9.6 | ) | — | — | — | — | (9.6 | ) | ||||||||||||||||
Repurchase of common stock | (55.5 | ) | — | — | — | — | (55.5 | ) | ||||||||||||||||
Proceeds from debt issuance | — | 6.5 | — | 17.1 | — | 23.6 | ||||||||||||||||||
Payment of capital lease obligation | — | (37.4 | ) | — | (3.4 | ) | — | (40.8 | ) | |||||||||||||||
Repayment of long-term debt | (117.8 | ) | (5.1 | ) | — | (109.6 | ) | — | (232.5 | ) | ||||||||||||||
Payments made in connection with debt refinancing | (2.6 | ) | — | — | — | — | (2.6 | ) | ||||||||||||||||
Net cash used in financing activities | (167.8 | ) | (178.9 | ) | — | (126.0 | ) | 173 | (299.7 | ) | ||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | (8.9 | ) | — | (8.9 | ) | ||||||||||||||||
Net increase (decrease) in cash and cash equivalents | — | (92.4 | ) | 0.2 | (73.8 | ) | — | (166.0 | ) | |||||||||||||||
Cash and cash equivalents, beginning of period | — | 304.5 | (0.2 | ) | 348.6 | — | 652.9 | |||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | 212.1 | $ | — | $ | 274.8 | $ | — | $ | 486.9 | ||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2011 | ||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
Issuers | Guarantor | |||||||||||||||||||||||
Subsidiaries | ||||||||||||||||||||||||
ON Semiconductor | SCI LLC | Other | Non-Guarantor | Eliminations | Total | |||||||||||||||||||
Corporation | Subsidiaries | Subsidiaries | ||||||||||||||||||||||
Net cash provided by operating activities | $ | — | $ | 0.4 | $ | — | $ | 558.9 | $ | (13.8 | ) | $ | 545.5 | |||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||
Purchases of property, plant and equipment | — | (69.0 | ) | (0.2 | ) | (247.2 | ) | — | (316.4 | ) | ||||||||||||||
Proceeds from sales of property, plant and equipment | — | 0.1 | — | 3.2 | — | 3.3 | ||||||||||||||||||
Deposits utilized for purchases of property, plant and equipment | — | — | — | 0.5 | — | 0.5 | ||||||||||||||||||
Recovery from insurance on property, plant and equipment | — | — | — | 13.3 | — | 13.3 | ||||||||||||||||||
Purchase of businesses, net of cash acquired | — | 24.3 | — | (42.2 | ) | — | (17.9 | ) | ||||||||||||||||
Proceeds from held-to maturity securities | — | 122.2 | — | — | — | 122.2 | ||||||||||||||||||
Purchase of held-to-maturity securities | — | (370.8 | ) | — | — | — | (370.8 | ) | ||||||||||||||||
Change in restricted cash | — | 142.1 | — | — | — | 142.1 | ||||||||||||||||||
Contribution from subsidiaries | 23.9 | 234.5 | — | — | (258.4 | ) | — | |||||||||||||||||
Net cash provided by (used in) investing activities | 23.9 | 83.4 | (0.2 | ) | (272.4 | ) | (258.4 | ) | (423.7 | ) | ||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||
Intercompany loan activity | — | (289.3 | ) | — | 289.3 | — | — | |||||||||||||||||
Intercompany loan repayments to guarantor | — | 182.2 | — | (182.2 | ) | — | — | |||||||||||||||||
Payments to parent | — | (37.7 | ) | — | (234.5 | ) | 272.2 | — | ||||||||||||||||
Proceeds from issuance of common stock under the employee stock purchase plan | 8.1 | — | — | — | — | 8.1 | ||||||||||||||||||
Proceeds from exercise of stock options | 59.4 | — | — | — | — | 59.4 | ||||||||||||||||||
Payments of tax withholding for restricted shares | (19.3 | ) | — | — | — | — | (19.3 | ) | ||||||||||||||||
Proceeds from debt issuance | — | 12.2 | — | 56.8 | — | 69 | ||||||||||||||||||
Payment of capital leases obligations | — | (36.4 | ) | — | (2.6 | ) | — | (39.0 | ) | |||||||||||||||
Repayment of long-term debt | (56.2 | ) | (2.6 | ) | — | (100.7 | ) | — | (159.5 | ) | ||||||||||||||
Payments made in connection with debt refinancing | (15.9 | ) | — | — | — | — | (15.9 | ) | ||||||||||||||||
Net cash used in financing activities | (23.9 | ) | (171.6 | ) | — | (173.9 | ) | 272.2 | (97.2 | ) | ||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | 5 | — | 5 | ||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | — | (87.8 | ) | (0.2 | ) | 117.6 | — | 29.6 | ||||||||||||||||
Cash and cash equivalents, beginning of period | — | 392.3 | — | 231 | — | 623.3 | ||||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | 304.5 | $ | (0.2 | ) | $ | 348.6 | $ | — | $ | 652.9 | |||||||||||
Significant_Accounting_Policie2
Significant Accounting Policies (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Significant Accounting Policies [Line Items] | ' |
Repayment period of distributor | '30 days |
Standard Product Warranty, period from the date of shipment | '2 years |
Repayment period of account receivable, cash discount, after the date of shipment | '10 days |
Minimum [Member] | ' |
Significant Accounting Policies [Line Items] | ' |
Useful Life (in Years) | '1 year |
Maximum [Member] | ' |
Significant Accounting Policies [Line Items] | ' |
Useful Life (in Years) | '18 years |
Building [Member] | Minimum [Member] | ' |
Significant Accounting Policies [Line Items] | ' |
Estimated useful lives of property, plant and equipment, minimum (in years) | '30 years |
Building [Member] | Maximum [Member] | ' |
Significant Accounting Policies [Line Items] | ' |
Estimated useful lives of property, plant and equipment, minimum (in years) | '50 years |
Machinery and Equipment [Member] | Minimum [Member] | ' |
Significant Accounting Policies [Line Items] | ' |
Estimated useful lives of property, plant and equipment, minimum (in years) | '3 years |
Machinery and Equipment [Member] | Maximum [Member] | ' |
Significant Accounting Policies [Line Items] | ' |
Estimated useful lives of property, plant and equipment, minimum (in years) | '20 years |
Acquisitions_Acquisition_Of_SA
Acquisitions (Acquisition Of SANYO Semiconductor Co., Ltd.) (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 02, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Jan. 02, 2011 | Dec. 31, 2011 | Jan. 02, 2011 | Jan. 02, 2011 | Jan. 02, 2011 | Jan. 02, 2011 | Dec. 31, 2011 |
Acquisition of SANYO Semiconductor Co., LTD | Acquisition of SANYO Semiconductor Co., LTD | Acquisition of SANYO Semiconductor Co., LTD | Acquisition of SANYO Semiconductor Co., LTD | Acquisition of SANYO Semiconductor Co., LTD | Acquisition of SANYO Semiconductor Co., LTD | Acquisition of SANYO Semiconductor Co., LTD | Acquisition of SANYO Semiconductor Co., LTD | Acquisition of SANYO Semiconductor Co., LTD | Acquisition of SANYO Semiconductor Co., LTD | ||||
Withdrawal from Multiemployer Defined Benefit Plan [Member] | Estimated Fair Value Of Favorable Supply Arrangement [Member] | Estimated Fair Value Of Favorable Supply Arrangement [Domain] | Patents | Trademarks | Customer relationships | Purchase price adjustments | Purchase price adjustments | ||||||
Business acquisition paid in cash | ' | ' | ' | $142.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition price note payable | ' | ' | ' | 377.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash acquired from acquisition | ' | ' | ' | ' | 39.7 | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition, initial contingent consideration | ' | ' | ' | ' | 19 | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 479.9 | 479.9 |
Acquisition related expenses | ' | ' | ' | ' | 7.3 | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on SANYO Semiconductor acquisition | 0 | 0 | 24.3 | ' | 24.3 | ' | ' | ' | ' | ' | ' | 24.3 | ' |
Weighted average useful life, years | ' | ' | ' | '8 years 9 months 18 days | ' | ' | ' | ' | '5 years 6 months | '3 years | '13 years | ' | ' |
Intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 27 | 3 | 25.7 | ' | ' |
Estimated fair value of favorable supply arrangement included in other current assets | ' | ' | ' | ' | ' | ' | 80 | ' | ' | ' | ' | 119.7 | ' |
Estimated Period Of Benefit For Favorable Supply Arrangement | ' | ' | ' | ' | ' | ' | ' | '5 months | ' | ' | ' | ' | ' |
Amortization Of Other Current Assets From Business Acquisition After Effect Of Foreign Currency Exchange | ' | ' | ' | ' | ' | ' | 80.4 | ' | ' | ' | ' | ' | ' |
Defined benefit pension plan, liabilities | ' | ' | ' | ' | $50.90 | $144.90 | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Schedule_Of_Busin
Acquisitions (Schedule Of Business Combination Purchase Price Allocation) (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Jan. 02, 2011 | Dec. 31, 2011 |
Acquisition of SANYO Semiconductor Co., LTD | Purchase price adjustments | Purchase price adjustments | ||||
Acquisition of SANYO Semiconductor Co., LTD | Acquisition of SANYO Semiconductor Co., LTD | |||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' | $117.10 | ' |
Receivables, net | ' | ' | ' | ' | 242.1 | ' |
Inventories | ' | ' | ' | ' | 400.3 | ' |
Other current assets | ' | ' | ' | ' | 119.7 | ' |
Property, plant and equipment | ' | ' | ' | ' | 146.7 | ' |
Intangible assets | ' | ' | ' | ' | 55.7 | ' |
Other non-current assets | ' | ' | ' | ' | 75.4 | ' |
Total assets acquired | ' | ' | ' | ' | 1,157 | ' |
Accounts payable | ' | ' | ' | ' | -300 | ' |
Other current liabilities | ' | ' | ' | ' | -152 | ' |
Long-term accrued liabilities | ' | ' | ' | ' | -200.8 | ' |
Total liabilities assumed | ' | ' | ' | ' | -652.8 | ' |
Net assets acquired | ' | ' | ' | ' | 504.2 | ' |
Gain on acquisition | 0 | 0 | -24.3 | -24.3 | -24.3 | ' |
Purchase price | ' | ' | ' | ' | $479.90 | $479.90 |
Acquisitions_Acquisition_Of_Th
Acquisitions (Acquisition Of The CMOS Image Sensor Business Unit From Cypress Semiconductor) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 27, 2011 | Dec. 31, 2013 | Feb. 27, 2011 | Feb. 27, 2011 | Feb. 27, 2011 | Feb. 27, 2011 |
In Millions, unless otherwise specified | Acquisition of the CMOS Image Sensor Business Unit from Cypress Semiconductor | Acquisition of the CMOS Image Sensor Business Unit from Cypress Semiconductor | Acquisition of the CMOS Image Sensor Business Unit from Cypress Semiconductor | Acquisition of the CMOS Image Sensor Business Unit from Cypress Semiconductor | Acquisition of the CMOS Image Sensor Business Unit from Cypress Semiconductor | Acquisition of the CMOS Image Sensor Business Unit from Cypress Semiconductor | |||
Purchase price adjustments | Customer relationships | Developed technology | Backlog | ||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership percentage | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' |
Purchase price | ' | ' | ' | $34.10 | ' | ' | ' | ' | ' |
Purchase Price Allocation of CMOS Image Sensor Business Unit [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' | ' | 1.5 | ' | ' | ' |
Receivables, net | ' | ' | ' | ' | ' | 2.6 | ' | ' | ' |
Inventories | ' | ' | ' | ' | ' | 9.2 | ' | ' | ' |
Other current assets | ' | ' | ' | ' | ' | 0.4 | ' | ' | ' |
Property, plant and equipment | ' | ' | ' | ' | ' | 1.2 | ' | ' | ' |
Goodwill | 184.6 | 184.6 | 198.7 | ' | ' | 7.5 | ' | ' | ' |
Intangible assets | ' | ' | ' | 11.2 | ' | 11.2 | ' | ' | ' |
In-process research and development | ' | ' | ' | 11.2 | ' | 11.2 | ' | ' | ' |
Total assets acquired | ' | ' | ' | ' | ' | 44.8 | ' | ' | ' |
Accounts payable | ' | ' | ' | ' | ' | -5.6 | ' | ' | ' |
Other current liabilities | ' | ' | ' | ' | ' | -3.7 | ' | ' | ' |
Long-term accrued liabilities | ' | ' | ' | ' | ' | -1.4 | ' | ' | ' |
Total liabilities assumed | ' | ' | ' | ' | ' | -10.7 | ' | ' | ' |
Net assets acquired | ' | ' | ' | ' | ' | 34.1 | ' | ' | ' |
Discount rate used for present value calculations | ' | ' | ' | 17.50% | ' | ' | ' | ' | ' |
Intangible assets | ' | ' | ' | ' | ' | ' | 4.2 | 6.2 | 0.8 |
Weighted average useful life, years | ' | ' | ' | ' | ' | ' | '6 years | '7 years | '3 months 18 days |
Allocation of purchase price to non-deductible goodwill | ' | ' | ' | $7.50 | $7.50 | ' | ' | ' | ' |
Goodwill_And_Intangible_Assets2
Goodwill And Intangible Assets (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | |
Standard Products Group [Member] | Standard Products Group [Member] | System Solutions Group [Member] | ||||
Goodwill impairment charge for digital and mixed signal group | ' | ' | ' | ' | $14,100,000 | ' |
Goodwill impairment test discount rate | 14.00% | ' | 14.00% | ' | ' | ' |
Goodwill impairment test long term growth rate | 4.00% | ' | 3.90% | ' | ' | ' |
Impairment of long-lived assets | ' | ' | ' | ' | ' | 126,000,000 |
Impairment of intangible assets | 40,600,000 | 40,600,000 | ' | 3,800,000 | ' | 31,600,000 |
Amortization of acquisition-related intangible assets | 33,100,000 | 44,400,000 | 42,700,000 | ' | ' | ' |
Cost of goods sold, amortization | 0 | 0 | 1,100,000 | ' | ' | ' |
Amortization of Intangible Assets Including Acquired Assets | ' | ' | $43,800,000 | ' | ' | ' |
Goodwill_And_Intangible_Assets3
Goodwill And Intangible Assets (Summary Of Goodwill by Operating Segment) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Goodwill [Line Items] | ' | ' | ' |
Goodwill | $623.40 | $623.40 | ' |
Accumulated Amortization | -9.8 | -9.8 | ' |
Accumulated Impairment Losses | -429 | -429 | ' |
Carrying Value | 184.6 | 184.6 | 198.7 |
Application Products Group | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | 547.4 | 547.4 | ' |
Accumulated Amortization | -4.2 | -4.2 | ' |
Accumulated Impairment Losses | -406 | -406 | ' |
Carrying Value | 137.2 | 137.2 | ' |
Standard Products Group | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | 76 | 76 | ' |
Accumulated Amortization | -5.6 | -5.6 | ' |
Accumulated Impairment Losses | -23 | -23 | ' |
Carrying Value | $47.40 | $47.40 | ' |
Goodwill_And_Intangible_Assets4
Goodwill And Intangible Assets (Summary Of Change In Goodwill) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill [Roll Forward] | ' | ' |
Net balance, beginning | $184.60 | $198.70 |
Impairment charge | 0 | -14.1 |
Net balance, ending | $184.60 | $184.60 |
Goodwill_And_Intangible_Assets5
Goodwill And Intangible Assets (Summary Of Intangible Assets, Net) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Original Cost | $498.10 | $498.10 |
Accumulated Amortization | -206.7 | -173.6 |
Foreign Currency Translation Adjustment | -27.4 | -26.9 |
Accumulated Impairment | -40.6 | -40.6 |
Carrying Value | 223.4 | 257 |
Intellectual property | ' | ' |
Original Cost | 13.9 | 13.9 |
Accumulated Amortization | -9.4 | -8.7 |
Foreign Currency Translation Adjustment | 0 | 0 |
Accumulated Impairment | -0.4 | -0.4 |
Carrying Value | 4.1 | 4.8 |
Customer relationships | ' | ' |
Original Cost | 280.3 | 280.3 |
Accumulated Amortization | -105.5 | -91.8 |
Foreign Currency Translation Adjustment | -27.4 | -26.9 |
Accumulated Impairment | -23 | -23 |
Carrying Value | 124.4 | 138.6 |
Patents | ' | ' |
Original Cost | 43.7 | 43.7 |
Accumulated Amortization | -19 | -16.6 |
Foreign Currency Translation Adjustment | 0 | 0 |
Accumulated Impairment | -13.7 | -13.7 |
Carrying Value | 11 | 13.4 |
Useful Life (in Years) | '12 years | '12 years |
Developed technology | ' | ' |
Original Cost | 146.2 | 146.2 |
Accumulated Amortization | -66.7 | -51.3 |
Foreign Currency Translation Adjustment | 0 | 0 |
Accumulated Impairment | -2.4 | -2.4 |
Carrying Value | 77.1 | 92.5 |
Trademarks | ' | ' |
Original Cost | 14 | 14 |
Accumulated Amortization | -6.1 | -5.2 |
Foreign Currency Translation Adjustment | 0 | 0 |
Accumulated Impairment | -1.1 | -1.1 |
Carrying Value | $6.80 | $7.70 |
Useful Life (in Years) | '15 years | '15 years |
Minimum [Member] | ' | ' |
Useful Life (in Years) | '1 year | ' |
Minimum [Member] | Intellectual property | ' | ' |
Useful Life (in Years) | '5 years | '5 years |
Minimum [Member] | Customer relationships | ' | ' |
Useful Life (in Years) | '5 years | '5 years |
Minimum [Member] | Developed technology | ' | ' |
Useful Life (in Years) | '5 years | '5 years |
Maximum [Member] | ' | ' |
Useful Life (in Years) | '18 years | ' |
Maximum [Member] | Intellectual property | ' | ' |
Useful Life (in Years) | '12 years | '12 years |
Maximum [Member] | Customer relationships | ' | ' |
Useful Life (in Years) | '18 years | '18 years |
Maximum [Member] | Developed technology | ' | ' |
Useful Life (in Years) | '12 years | '12 years |
Goodwill_And_Intangible_Assets6
Goodwill And Intangible Assets (Summary Of Amortization Expense) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
2014 | $32.60 |
2015 | 31.7 |
2016 | 30.6 |
2017 | 27.7 |
2018 | 24.4 |
Thereafter | 76.4 |
Total estimated amortization expense | $223.40 |
Restructuring_Asset_Impairment2
Restructuring, Asset Impairments And Other, Net (Reconciliation Of "Restructuring, Asset Impairments And Other, Net" Caption On The Consolidated Statement Of Operations) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | |||
Restructuring Activities Related To Aizu Closure [Member] | Restructuring Activities Related To Aizu Closure [Member] | Restructuring Activities Related To Aizu Closure [Member] | KSS Facility Closure [Member] | Other Restructuring [Member] | Other Restructuring [Member] | Other Restructuring [Member] | Restructuring Charges, Net [Member] | Restructuring Charges, Net [Member] | Restructuring Charges, Net [Member] | 2012 global workforce reduction [Member] | System Solutions Group Asset Impairment [Member] | System Solutions Group Asset Impairment [Member] | System Solutions Group Voluntary Retirement Programs [Member] | System Solutions Group Voluntary Retirement Programs [Member] | Restructuring Activities [Member] | Restructuring Activities [Member] | Thailand facility closure [Member] | Japan earthquake and tsunami [Member] | Phoenix wafer manufacturing facility closure [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Restructuring | ' | ' | ' | $3.10 | $9 | $6.50 | $6.50 | $4.80 | [1] | $2 | [1] | $1.20 | [1] | $67.30 | $73.40 | $27.70 | $11.20 | ' | $0 | $52.90 | $47.60 | $3.60 | $10 | $5.70 | $0 | $4.30 |
Asset impairment charges | 8 | 103 | 86.3 | 0 | 4.5 | 61.5 | 3.5 | 4.5 | [1] | 4.1 | [1] | 0 | 8 | 103 | 86.3 | 0 | 94.4 | 94.4 | 0 | 0 | 0 | 0 | 24.8 | 0 | 0 | |
Other | ' | ' | ' | -22.4 | 0.1 | 2 | 0 | -4.1 | [1] | 0.5 | [1] | 0.5 | [1] | -42.1 | -11.1 | -11.3 | 0 | ' | 0 | -15.6 | -11.7 | 0 | 0 | -18.6 | 4.8 | 0 |
Total | $67.30 | $73.40 | ' | ($19.30) | $13.60 | $70 | $10 | $5.20 | [1] | $6.60 | [1] | $1.70 | [1] | $33.20 | $165.30 | $102.70 | $11.20 | ' | $94.40 | $37.30 | $35.90 | $3.60 | $10 | $11.90 | $4.80 | $4.30 |
[1] | Includes charges related to the certain reductions in workforce, certain acquisitions, other facility closures, asset disposal activity and certain other activity which is not considered to be significant. |
Restructuring_Asset_Impairment3
Restructuring, Asset Impairments And Other, Net (Rollforward Of Accrued Restructuring Charges) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Restructuring Reserve [Roll Forward] | ' | ' |
Balance at Beginning of Period | $17.10 | $17.30 |
Restructuring charges | 67.3 | 73.4 |
Usage | -56.6 | -72.9 |
Adjustments | -1.6 | -0.7 |
Balance at End of Period | 26.2 | 17.1 |
Estimated Employee Separation Charges [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Balance at Beginning of Period | 15.5 | 8.9 |
Restructuring charges | 62.2 | 67.8 |
Usage | -50.9 | -60.7 |
Adjustments | -1.6 | -0.5 |
Balance at End of Period | 25.2 | 15.5 |
Estimated Costs To Exit [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Balance at Beginning of Period | 1.6 | 8.4 |
Restructuring charges | 5.1 | 5.6 |
Usage | -5.7 | -12.2 |
Adjustments | 0 | -0.2 |
Balance at End of Period | $1 | $1.60 |
Restructuring_Asset_Impairment4
Restructuring, Asset Impairments And Other, Net (Narrative) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Mar. 29, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Oct. 06, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Oct. 06, 2013 | Dec. 31, 2013 | |
Voluntary Retirement [Member] | Voluntary Retirement [Member] | Voluntary Retirement [Member] | Voluntary Retirement [Member] | Voluntary Retirement [Member] | Voluntary Retirement [Member] | Voluntary Retirement [Member] | Facility Closing [Member] | Facility Closing [Member] | Facility Closing [Member] | Facility Closing [Member] | Facility Closing [Member] | Facility Closing [Member] | Facility Closing [Member] | Employee Severance [Member] | ||||
System Solutions Group Voluntary Retirement Programs [Member] | Q1 2013 Voluntary Retirement Program [Member] | Q1 2013 Voluntary Retirement Program [Member] | Q4 2013 Voluntary Retirement Program [Member] | Q4 2013 Voluntary Retirement Program [Member] | Q4 2013 Voluntary Retirement Program [Member] | Expected Costs in FY of 2014 [Member] | Aizu Plan [Member] | Aizu Plan [Member] | KSS Plan [Member] | KSS Plan [Member] | KSS Plan [Member] | KSS Plan [Member] | KSS Plan [Member] | KSS Plan [Member] | ||||
employees | employees | Contract Employee [Member] | Accumulated Translation Adjustment [Member] | employees | Minimum [Member] | Maximum [Member] | Contract Employee [Member] | |||||||||||
employees | employees | |||||||||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected number of positions to be eliminated | ' | ' | ' | ' | 500 | ' | 350 | ' | 70 | ' | ' | ' | 170 | ' | ' | ' | 40 | ' |
Restructuring charges | $67,300,000 | $73,400,000 | ' | ' | ' | $35,400,000 | ' | $17,500,000 | ' | ' | $86,700,000 | ' | ' | ' | ' | ' | ' | $3,400,000 |
Number of employees terminated | ' | ' | ' | ' | ' | ' | 170 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (decrease) in pension and postretirement obligations | ' | ' | ' | -15,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued liabilities | 26,200,000 | 17,100,000 | 17,300,000 | 17,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,200,000 | ' | ' | ' | ' |
Reclassification from other comprehensive income, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,000,000 | ' | ' | ' | ' | ' | ' |
Additional employee separation charges expected to incur | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,700,000 | ' | ' | ' | 8,300,000 | ' | ' | ' | ' |
Defined Benefit Plan, Expected Net Gain (Loss) Due to Curtailments | ' | ' | ' | ' | ' | ' | ' | 4,500,000 | ' | ' | ' | ' | ' | 2,100,000 | ' | ' | ' | ' |
Costs incurred associated with closure of facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 2,000,000 | ' | ' |
Multiemployer Plans, Withdrawal Obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,100,000 | ' | ' | ' | ' |
Balance_Sheet_Information_Narr
Balance Sheet Information (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Balance Sheet Related Disclosures [Abstract] | ' | ' | ' |
Depreciation expense for property, plant and equipment | $164.60 | $180.80 | $162.80 |
Assets financed under capital leases included in total property, plant and equipment | $41.80 | $79.70 | ' |
Balance_Sheet_Information_Sche
Balance Sheet Information (Schedule of Balance Sheet Information) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
In Millions, unless otherwise specified | ||||
Receivables, net: | ' | ' | ' | |
Accounts receivable | $384.40 | $360.50 | ' | |
Less: Allowance for doubtful accounts | -1 | -2.7 | ' | |
Accounts receivable, net | 383.4 | 357.8 | ' | |
Inventories: | ' | ' | ' | |
Raw materials | 89.2 | 73.2 | ' | |
Work in process | 319.6 | 310.9 | ' | |
Finished goods | 203 | 197.6 | ' | |
Inventories, net | 611.8 | 581.7 | ' | |
Other Current Assets: | ' | ' | ' | |
Prepaid expenses | 24.8 | 24.3 | ' | |
Value added and other income tax receivables | 31.7 | 34.3 | ' | |
Other | 32.8 | 63.6 | ' | |
Other current assets | 89.3 | 122.2 | ' | |
Property, plant and equipment, net: | ' | ' | ' | |
Land | 52.3 | [1] | 67.4 | ' |
Buildings | 467.7 | [1] | 572.4 | ' |
Machinery and equipment | 1,918.40 | [1] | 1,979.40 | ' |
Total property, plant and equipment | 2,438.40 | [1] | 2,619.20 | ' |
Less: Accumulated depreciation | -1,364.20 | [1] | -1,515.90 | ' |
Property, plant and equipment, net | 1,074.20 | [1] | 1,103.30 | 1,109.50 |
Accrued expenses: | ' | ' | ' | |
Accrued payroll | 91.3 | 102.9 | ' | |
Sales related reserves | 54.2 | 64.9 | ' | |
Restructuring reserves | 26.2 | 17.1 | 17.3 | |
Accrued pension liability | 10.4 | 7.4 | ' | |
Accrued interest | 1.9 | 0.6 | ' | |
Other | 36.3 | 63.8 | ' | |
Accrued Liabilities, Current, Total | 220.3 | 256.7 | ' | |
Property, plant and equipment long lived | $8.70 | ' | ' | |
[1] | Included in property, plant and equipment are $8.7 million of fixed assets that are held-for-sale as of December 31, 2013. |
Balance_Sheet_Information_Warr
Balance Sheet Information (Warranty Reserves) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Warranty Reserves [Roll Forward] | ' | ' | ' |
Beginning Balance | $10.20 | $5.80 | $3.30 |
Provision | 4.4 | 8.1 | 4 |
Usage | -8.6 | -3.7 | -1.5 |
Ending Balance | $6 | $10.20 | $5.80 |
LongTerm_Debt_LongTerm_Debt_De
Long-Term Debt (Long-Term Debt) (Details) (USD $) | 12 Months Ended | 0 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 20, 2013 | Mar. 22, 2013 | Dec. 31, 2012 | Sep. 04, 2012 | Dec. 15, 2011 | Dec. 15, 2006 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 15, 2006 | Dec. 19, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 21, 2005 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
Senior Revolving Credit Facility [Member] | Senior Revolving Credit Facility [Member] | Loan with Japanese bank due 2014 through 2018, interest payable quarterly at 2.00% and 2.06%, respectively [Member] | Loan with Japanese bank due 2014 through 2018, interest payable quarterly at 2.00% and 2.06%, respectively [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 1.875% Notes [Member] | 1.875% Notes [Member] | 1.875% Notes [Member] | 1.875% Notes [Member] | Loan with Hong Kong bank, interest payable weekly at 1.91% and 1.96%, respectively [Member] | Loan with Hong Kong bank, interest payable weekly at 1.91% and 1.96%, respectively [Member] | Loans with Philippine banks due 2014 through 2015, interest payable monthly and quarterly at an average rate of 2.16% and 1.97%, respectively [Member] | Loans with Philippine banks due 2014 through 2015, interest payable monthly and quarterly at an average rate of 2.16% and 1.97%, respectively [Member] | Loan with Chinese bank due 2014, interest payable quarterly at 3.34% and 3.41%, respectively [Member] | Loan with Chinese bank due 2014, interest payable quarterly at 3.34% and 3.41%, respectively [Member] | Loan with Japanese bank due 2013, interest payable monthly at 0.00% and 1.58%, respectively [Member] | Loan with Japanese bank due 2013, interest payable monthly at 0.00% and 1.58%, respectively [Member] | Loan with Singapore bank, interest payable weekly at 1.94% and 1.95%, respectively [Member] | Loan with Singapore bank, interest payable weekly at 1.94% and 1.95%, respectively [Member] | Loan with British finance company, interest payable monthly at 1.57% and 1.51%, respectively [Member] | Loan with British finance company, interest payable monthly at 1.57% and 1.51%, respectively [Member] | U.S. real estate mortgages payable monthly through 2016 at an average rate of 4.86% [Member] | U.S. real estate mortgages payable monthly through 2016 at an average rate of 4.86% [Member] | U.S. equipment financing payable monthly through 2016 at 2.94% [Member] | U.S. equipment financing payable monthly through 2016 at 2.94% [Member] | Canada equipment financing payable monthly through 2017 at 3.81% [Member] | Canada equipment financing payable monthly through 2017 at 3.81% [Member] | Canada revolving line of credit, interest payable quarterly at 1.84% [Member] | Canada revolving line of credit, interest payable quarterly at 1.84% [Member] | Capital lease obligations [Member] | Capital lease obligations [Member] | ||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Long-term debt, including current maturities | $942.20 | $1,011.90 | $120 | $0 | $273.70 | [1] | $302 | [1] | $0 | [2] | $72.60 | ' | $125.50 | [2] | ' | ' | ' | $335.20 | [3] | $274.20 | [3] | ' | $73.40 | [4] | $0 | [5] | $73.40 | [5] | ' | $40 | [6] | $30 | [6] | $39.20 | [7] | $45.80 | [7] | $7 | [8] | $7 | [8] | $0 | [8] | $0.80 | [8] | $15 | [6] | $15 | [6] | $0.20 | [6] | $3.30 | [6] | $28.10 | [9] | $29.80 | [9] | $9.50 | [4] | $14 | [4] | $5.90 | [4] | $0 | [4] | $15 | [8] | $0 | [8] | $53.40 | $91.10 | ||||
Less: Current maturities | -181.6 | -353.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Long-term debt | 760.6 | 658.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Debt instrument, interest rate | ' | ' | 2.00% | 0.00% | 2.00% | 2.06% | 2.63% | 2.63% | [2] | ' | 2.63% | ' | ' | 2.63% | 2.63% | 2.63% | 2.63% | ' | 1.88% | 1.88% | 1.88% | 1.91% | 1.96% | ' | ' | 3.34% | 3.41% | 0.00% | 1.58% | 1.94% | 1.95% | 1.57% | 1.51% | ' | ' | 2.94% | 2.94% | 3.81% | 3.81% | 1.84% | 1.84% | ' | ' | ||||||||||||||||||||||||||||||||
Long-term Debt, Weighted Average Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.16% | 1.97% | ' | ' | ' | ' | ' | ' | ' | ' | 4.86% | 4.86% | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Debt instrument, discount | ' | ' | ' | ' | ' | ' | 0 | ' | 0.1 | [10] | 7.1 | 0.6 | [10] | 1.4 | [10] | ' | 21.7 | 24.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||
Consecutive trading days included in calculation of conversion obligation | '20 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Unsecured debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15 | [8] | 7.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||
Secured debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $24.20 | [8] | $38.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||
[1] | This loan represents SCI LLC's unsecured loan with SMBC, which is guaranteed by the Company. See additional information below under the heading "Note Payable to SMBC." | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | The 2.625% Notes were redeemed by the Company on December 20, 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | The 2.625% Notes, Series B may be put back to the Company at the option of the holders of the notes on December 15 of 2016 and 2021 or called at the option of the Company on or after December 20, 2016. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Debt arrangement secured by equipment. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | The 1.875% Notes were partially redeemed by the Company on December 20, 2012. The balance as of December 31, 2012 for notes submitted for conversion was subject to a 20 consecutive trading-day observation period and was subsequently settled during January 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | Debt arrangement secured by accounts receivable. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[7] | $15.0 million unsecured and $24.2 million secured by equipment and $7.5 million unsecured and $38.3 million secured by equipment, respectively. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[8] | Unsecured debt arrangement. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[9] | Debt arrangement secured by real estate. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[10] | Represents exchange expenses capitalized as debt issuance costs that are amortized using the effective interest method through the first put date of December 15, 2016. |
LongTerm_Debt_Annual_Maturitie
Long-Term Debt (Annual Maturities Relating To Long-Term Debt) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Debt Disclosure [Abstract] | ' |
2014 | $181.60 |
2015 | 74 |
2016 | 424.9 |
2017 | 39 |
2018 | 243.5 |
Thereafter | 0.9 |
Total | $963.90 |
LongTerm_Debt_LongTerm_Debt_Re
Long-Term Debt Long-Term Debt (Redemption, Conversion, and Retirement of Debt) (Details) (USD $) | 12 Months Ended | 0 Months Ended | ||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 28, 2013 | Dec. 19, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 20, 2012 | Dec. 21, 2005 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||
1.875% Notes [Member] | 1.875% Notes [Member] | 1.875% Notes [Member] | 1.875% Notes [Member] | 1.875% Notes [Member] | 1.875% Notes [Member] | Senior Revolving Credit Facility [Member] | Senior Revolving Credit Facility [Member] | |||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Net carrying value | $942,200,000 | $1,011,900,000 | ' | ' | $73,400,000 | [1] | $0 | [2] | $73,400,000 | [2] | ' | ' | $120,000,000 | $0 | ||
Debt instrument, interest rate | ' | ' | ' | ' | ' | 1.88% | 1.88% | ' | 1.88% | 2.00% | 0.00% | |||||
(Loss) gain on debt repurchase | -3,100,000 | -7,800,000 | -23,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Rate of conversion | ' | ' | ' | ' | 142.8571 | ' | ' | ' | ' | ' | ' | |||||
Principal amount of original debt converted | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | |||||
Consecutive trading days included in calculation of conversion obligation | '20 days | ' | ' | ' | '20 days | ' | ' | ' | ' | ' | ' | |||||
Outstanding aggregate principal redeemed | ' | ' | ' | ' | ' | ' | ' | 21,600,000 | [1] | ' | ' | ' | ||||
Cash paid upon conversion | ' | ' | ' | 77,500,000 | [1] | ' | ' | ' | ' | ' | ' | ' | ||||
Cash paid upon conversion in excess of aggregate principal amount | ' | ' | ' | $4,100,000 | [1] | ' | ' | ' | ' | ' | ' | ' | ||||
[1] | Debt arrangement secured by equipment. | |||||||||||||||
[2] | The 1.875% Notes were partially redeemed by the Company on December 20, 2012. The balance as of December 31, 2012 for notes submitted for conversion was subject to a 20 consecutive trading-day observation period and was subsequently settled during January 2013. |
LongTerm_Debt_Loss_on_Debt_Rep
Long-Term Debt (Loss on Debt Repurchase or Exchange) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 20, 2013 | Dec. 31, 2012 | Dec. 15, 2006 | Dec. 31, 2011 | Dec. 15, 2006 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 22, 2013 | Sep. 04, 2012 | Dec. 15, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 15, 2006 | Mar. 22, 2013 | Mar. 22, 2013 | Dec. 15, 2006 | Mar. 22, 2013 | Sep. 04, 2012 | Dec. 15, 2011 | Mar. 22, 2013 | Sep. 04, 2012 | Dec. 15, 2011 | Sep. 04, 2012 | Dec. 15, 2006 | Sep. 04, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 15, 2006 | Dec. 31, 2011 | |||||
2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | Senior Revolving Credit Facility [Member] | Senior Revolving Credit Facility [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | Debt Exchange - 2013 [Member] | Debt Exchange - 2013 [Member] | Debt Exchange - 2013 [Member] | Debt Exchange [Member] | Debt Exchange [Member] | Debt Exchange [Member] | Debt Exchange [Member] | Debt Exchange [Member] | Debt Exchange [Member] | Debt Exchange - 2012 [Member] | Debt Exchange - 2012 [Member] | Debt Exchange - 2012 [Member] | Debt Exchange - 2011 [Member] | Debt Exchange - 2011 [Member] | Debt Exchange - 2011 [Member] | Debt Exchange - 2011 [Member] | |||||||||
Debt Repurchase [Member] | Debt Repurchase [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
(Loss) gain on debt repurchase | ($3.10) | ($7.80) | ($23.20) | ' | ' | ' | ' | ($5.30) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($3.10) | ' | ' | ' | ' | ' | ' | ' | ' | ($7.80) | ' | ' | ' | ' | ' | ' | |||||
Par value of debt exchanged | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60 | 99.9 | 198.6 | 58.5 | 99.9 | 198.6 | 99.9 | ' | 99.9 | ' | 198.6 | ' | 198.6 | |||||
Net carrying value | 942.2 | 1,011.90 | ' | 0 | [1] | 72.6 | 125.5 | [1] | ' | 46.6 | ' | 120 | 0 | ' | ' | ' | 335.2 | [2] | 274.2 | [2] | ' | 57.4 | ' | ' | ' | ' | ' | ' | ' | ' | 92.8 | ' | ' | ' | 177.2 | ' | 176.4 | |
Debt instrument, interest rate | ' | ' | ' | 2.63% | 2.63% | [1] | 2.63% | 2.63% | ' | 2.63% | 2.00% | 0.00% | ' | ' | ' | 2.63% | 2.63% | 2.63% | ' | ' | 2.63% | ' | ' | ' | ' | ' | ' | 2.63% | 2.63% | ' | ' | 2.63% | 2.63% | 2.63% | ||||
Write off of unamortized debt issuance costs | ' | ' | ' | ' | ' | ' | ' | 0.5 | ' | ' | ' | ' | ' | ' | 1.3 | ' | ' | ' | 0.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.6 | ' | ' | ' | 1.7 | |||||
Adjustments to additional paid in capital for reacquisition of equity component | ' | ' | ' | ' | ' | ' | ' | 4.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.9 | ' | ' | ' | 21 | |||||
Cash paid on repurchase of senior notes | ' | ' | ' | ' | ' | ' | ' | 56.2 | ' | ' | ' | 0 | 2 | 15.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | 15.9 | |||||
Principal amount of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 198.6 | |||||
Gain (Loss) on Repurchase of Debt Instrument | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -17.9 | ' | ' | ' | |||||
Par value of debt repurchased | ' | ' | ' | ' | ' | ' | ' | $53 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
[1] | The 2.625% Notes were redeemed by the Company on December 20, 2013. | |||||||||||||||||||||||||||||||||||||
[2] | The 2.625% Notes, Series B may be put back to the Company at the option of the holders of the notes on December 15 of 2016 and 2021 or called at the option of the Company on or after December 20, 2016. |
LongTerm_Debt_LongTerm_Debt_No
Long-Term Debt Long-Term Debt (Notes Payable to SMBC) (Details) (USD $) | 1 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Jan. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 |
Servicing Assets at Fair Value [Line Items] | ' | ' | ' |
Net carrying value | ' | $942.20 | $1,011.90 |
SANYO Electric [Member] | ' | ' | ' |
Servicing Assets at Fair Value [Line Items] | ' | ' | ' |
Basis spread on variable rate | ' | 1.75% | ' |
Period of debt, in years | '7 years | ' | ' |
Principal amount of debt | 377.5 | ' | ' |
Net carrying value | ' | 273.7 | 302 |
Debt Instrument, Interest Rate Terms | ' | '3-month LIBOR plus 1.75% per annum | ' |
Principal payment of loan, quarterly | ' | 9.4 | ' |
Remaining balance of loan due in January 2018 | ' | $122.70 | ' |
LongTerm_Debt_Amended_and_Rest
Long-Term Debt (Amended and Restated Senior Revolving Credit Facility) (Details) (Senior Revolving Credit Facility [Member], USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | |||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Oct. 10, 2013 | Dec. 31, 2013 | Oct. 10, 2013 | Dec. 31, 2013 | Oct. 10, 2013 | Oct. 10, 2013 | |
Revolving Credit Facility [Member] | Letter of Credit [Member] | Letter of Credit [Member] | Swingline Loans For Short-Term Borrowings [Member] | Foreign Currency Sublimit [Member] | |||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, maximum borrowing capacity | ' | ' | ' | $800,000,000 | ' | $40,000,000 | ' | $15,000,000 | $75,000,000 |
Period of debt, in years | ' | ' | ' | ' | '5 years | ' | ' | ' | ' |
Ability to increase the size of the facility, in increments | ' | 120,000,000 | ' | ' | ' | 10,000,000 | ' | ' | ' |
Line of Credit, Increase, Additional Borrowings, Maximum | ' | ' | ' | 250,000,000 | ' | ' | ' | ' | ' |
Credit agreement financial covenants, maximum total leverage ratio | ' | ' | 3.75 | ' | ' | ' | ' | ' | ' |
Credit agreement financial covenants, minimum interest coverage ratio | ' | ' | 3.5 | ' | ' | ' | ' | ' | ' |
Credit commitment outstanding | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' |
Debt issuance costs included in other assets | 3,200,000 | 3,200,000 | 3,200,000 | ' | ' | ' | ' | ' | ' |
Debt Issuance Cost | $4,400,000 | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Description_of_t
Long-Term Debt (Description of the 2.625% Notes) (Details) (USD $) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | Dec. 20, 2013 | Mar. 22, 2013 | Dec. 31, 2012 | Sep. 04, 2012 | Dec. 15, 2011 | Dec. 15, 2006 | |||||
2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | ' | ' | ' | ' | ' | ' | ' | ||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Debt instrument, interest rate | 2.63% | ' | ' | 2.63% | ' | ' | 2.63% | ||||
Debt instrument, discount | $21,700,000 | ' | ' | $24,200,000 | ' | ' | ' | ||||
Write-off of unamortized debt issuance costs | 1,300,000 | ' | ' | ' | ' | ' | ' | ||||
2.625% Convertible Senior Subordinated Notes [Member] | ' | ' | ' | ' | ' | ' | ' | ||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Debt instrument, interest rate | 2.63% | 2.63% | [1] | ' | 2.63% | ' | ' | 2.63% | |||
Debt instrument, discount | 0 | ' | 100,000 | [2] | 7,100,000 | 600,000 | [2] | 1,400,000 | [2] | ' | |
Debt Instrument, Convertible, Conversion Ratio | 95.2381 | ' | ' | ' | ' | ' | ' | ||||
Debt Conversion, Original Debt, Amount | $1,000 | ' | ' | ' | ' | ' | ' | ||||
Percentage of product of closing sale price of common stock and conversion rate | 103.00% | ' | ' | ' | ' | ' | ' | ||||
Debt Instrument, Convertible, Conversion Price | $10.50 | ' | ' | ' | ' | ' | ' | ||||
Senior Revolving Credit Facility [Member] | ' | ' | ' | ' | ' | ' | ' | ||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Debt instrument, interest rate | 2.00% | ' | ' | 0.00% | ' | ' | ' | ||||
Debt Redemption Date December Twenty Two Thousand Thirteen [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | ' | ' | ' | ' | ' | ' | ' | ||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ||||
Percentage of principal amount of debt redeemed | 100.00% | ' | ' | ' | ' | ' | ' | ||||
[1] | The 2.625% Notes were redeemed by the Company on December 20, 2013. | ||||||||||
[2] | Represents exchange expenses capitalized as debt issuance costs that are amortized using the effective interest method through the first put date of December 15, 2016. |
LongTerm_Debt_LongTerm_Debt_Su
Long-Term Debt Long-Term Debt (Summary of 2.625% Notes Debt Exchanges) (Details) (USD $) | 0 Months Ended | 0 Months Ended | ||||||||||||||||||
In Millions, unless otherwise specified | Mar. 22, 2013 | Sep. 04, 2012 | Dec. 15, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Mar. 22, 2013 | Dec. 31, 2012 | Sep. 04, 2012 | Dec. 31, 2011 | Dec. 15, 2011 | Mar. 22, 2013 | Sep. 04, 2012 | Dec. 15, 2011 | Mar. 22, 2013 | Sep. 04, 2012 | Dec. 15, 2011 | |||
2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | Debt Exchange [Member] | Debt Exchange [Member] | Debt Exchange [Member] | Debt Exchange [Member] | Debt Exchange [Member] | Debt Exchange [Member] | ||||
2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Notes, Series B (net of discount of $21.7 million and $24.2 million, respectively) [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | 2.625% Convertible Senior Subordinated Notes [Member] | |||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Par value of debt exchanged | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $58.50 | $99.90 | $198.60 | $60 | $99.90 | $198.60 | |||
Cash paid on repurchase of senior notes | 0 | 2 | 15.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Debt instrument, discount | ' | ' | ' | $21.70 | $24.20 | $0 | $0.10 | [1] | $7.10 | $0.60 | [1] | ' | $1.40 | [1] | ' | ' | ' | ' | ' | ' |
Effective interest rate | ' | ' | ' | ' | ' | 4.70% | ' | 4.40% | ' | 5.25% | ' | ' | ' | ' | ' | ' | ' | |||
[1] | Represents exchange expenses capitalized as debt issuance costs that are amortized using the effective interest method through the first put date of December 15, 2016. |
LongTerm_Debt_LongTerm_Debt_Ca
Long-Term Debt Long-Term Debt (Canada Revolving Line of Credit) (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Aug. 30, 2013 | Oct. 10, 2013 |
Canada revolving line of credit, interest payable quarterly at 1.84% [Member] | Canada revolving line of credit, interest payable quarterly at 1.84% [Member] | Senior Revolving Credit Facility [Member] | |
Debt Instrument [Line Items] | ' | ' | ' |
Credit facility, maximum borrowing capacity | ' | $15 | $800 |
Credit commitment outstanding | ' | $15 | ' |
Basis spread on variable rate | 1.60% | ' | ' |
LongTerm_Debt_Capital_Lease_Ob
Long-Term Debt (Capital Lease Obligations And Debt Guarantees) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 21, 2005 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 15, 2006 | Dec. 31, 2013 | Dec. 31, 2013 |
In Millions, unless otherwise specified | Senior Revolving Credit Facility [Member] | Senior Revolving Credit Facility [Member] | Capital lease obligations [Member] | 1.875% Notes [Member] | 1.875% Notes [Member] | 1.875% Notes [Member] | Series B 2.625% Convertible Senior Subordinated Notes [Member] | Series B 2.625% Convertible Senior Subordinated Notes [Member] | Series B 2.625% Convertible Senior Subordinated Notes [Member] | Minimum [Member] | Maximum [Member] |
Capital lease obligations [Member] | Capital lease obligations [Member] | ||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital lease obligations for machinery and equipment | ' | ' | $53.40 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, interest rate | 2.00% | 0.00% | ' | 1.88% | 1.88% | 1.88% | 2.63% | 2.63% | 2.63% | 2.00% | 5.20% |
Earnings_Per_Share_and_Equity_1
Earnings Per Share and Equity (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' |
Anti-dilutive shares | 12,300,000 | 15,700,000 | 11,700,000 |
Shares reissued or retired | 0 | ' | ' |
Payments of tax withholding for restricted shares | $4.50 | $9.60 | $19.30 |
Shares reissued or retired | 0 | ' | ' |
Non-controlling interest in consolidated subsidiary | 32.8 | 29.6 | 25.3 |
Income attributable to non-controlling interests | $3.20 | $4.30 | $3.30 |
Treasury Stock [Member] | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' |
Shares withheld for payment of taxes | 581,585 | 1,141,640 | 2,037,941 |
Earnings_Per_Share_and_Equity_2
Earnings Per Share and Equity (Income per Share Calculations) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 27, 2013 | Jun. 28, 2013 | Mar. 29, 2013 | Dec. 31, 2012 | Sep. 28, 2012 | Jun. 29, 2012 | Mar. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stockholders' Equity Note [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) attributable to ON Semiconductor Corporation | $28.70 | $51.80 | $47.70 | $22.60 | ($138.20) | $12.50 | $6.90 | $28.20 | $150.80 | ($90.60) | $11.60 |
Basic weighted average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 447.9 | 452.6 | 446.7 |
Add: Incremental shares for: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dilutive effect of share-based awards | ' | ' | ' | ' | ' | ' | ' | ' | 2.8 | 0 | 7.6 |
Dilutive effect of convertible notes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 2.9 |
Diluted weighted average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 450.7 | 452.6 | 457.2 |
Net income (loss) per common share attributable to ON Semiconductor Corporation: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (dollars per common share) | ' | ' | ' | ' | ' | ' | ' | ' | $0.34 | ($0.20) | $0.03 |
Diluted (dollars per common share) | $0.06 | $0.11 | $0.11 | $0.05 | ($0.31) | $0.03 | $0.02 | $0.06 | $0.33 | ($0.20) | $0.03 |
Earnings_Per_Share_and_Equity_3
Earnings Per Share and Equity Summary of Share Repurchase Program (Details) (USD $) | 12 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Equity [Abstract] | ' | ' | ||
Number of repurchased shares | 13,900,000 | [1] | 8,800,000 | [1] |
Aggregate purchase price | $101.30 | $55.30 | ||
Fees, commissions and other expenses | 0.3 | 0.2 | ||
Less: accrued share repurchases | -0.6 | [2] | 0 | [2] |
Total cash used for share repurchases | 101 | 55.5 | ||
Weighted-average purchase price per share | $7.29 | $6.26 | ||
Available for future purchases at period end | $143.40 | $244.70 | ||
Shares reissued or retired | 0 | ' | ||
[1] | None of these shares had been reissued or retired as of December 31, 2013, but may be reissued or retired by the Company at a later date. | |||
[2] | Represents unpaid amounts recorded in accrued expenses on the Company's Consolidated Balance Sheet. |
ShareBased_Compensation_Summar
Share-Based Compensation (Summary Of Share-Based Compensation Expense) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | |||
Share-based compensation expenses | $32.30 | $20.50 | $33.50 | |||
Related income tax benefits | 0 | [1] | 0 | [1] | 0 | [1] |
Share-based compensation expense, net of taxes | 32.3 | 20.5 | 33.5 | |||
Cost Of Revenues [Member] | ' | ' | ' | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | |||
Share-based compensation expenses | 5.3 | 3.7 | 6.3 | |||
Research And Development [Member] | ' | ' | ' | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | |||
Share-based compensation expenses | 6.3 | 4.5 | 6.9 | |||
Selling And Marketing [Member] | ' | ' | ' | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | |||
Share-based compensation expenses | 5.7 | 4.3 | 6.4 | |||
General And Administrative [Member] | ' | ' | ' | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | |||
Share-based compensation expenses | 15 | 8 | 13.9 | |||
Restructuring Charges [Member] | ' | ' | ' | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | |||
Share-based compensation expenses | $0 | $0 | $0 | |||
[1] | A majority of the Company’s share-based compensation relates to its domestic subsidiaries; therefore, no related deferred income tax benefits are recorded due to historical net operating losses at those subsidiaries. |
ShareBased_Compensation_Weight
Share-Based Compensation (Weighted-Average Assumptions Of Employee Stock Options) (Details) (Employee Stock Option [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Employee Stock Option [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Volatility | 42.80% | 46.90% | 52.10% |
Risk-free interest rate | 1.40% | 0.80% | 1.20% |
Expected term | '5 years 2 months | '5 years | '4 years 9 months 18 days |
Weighted-average fair value per option | $2.93 | $3.01 | $3.88 |
ShareBased_Compensation_Summar1
Share-Based Compensation (Summary Of Stock Option Plans) (Details) (USD $) | 12 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 |
Summary of Stock Option Activity [Roll Forward] | ' |
Number of Shares, Beginning | 17.2 |
Number of Shares, Granted | 0.1 |
Number of Shares, Exercised | -2.1 |
Number of Shares, Canceled | -1.2 |
Number of Shares, Ending | 14 |
Weighted Average Exercise Price [Roll Forward] | ' |
Weighted-Average Exercise Price, Beginning | $7.70 |
Weighted-Average Exercise Price. Granted | $7.39 |
Weighted-Average Exercise Price, Exercised | $5.82 |
Weighted-Average Exercise Price, Cancelled | $8.67 |
Weighted-Average Exercise Price, Ending | $7.89 |
Weighted Average Remaining Contractual Term (in years), Outstanding | '3 years 4 months 24 days |
Aggregate Intrinsic Value (In-The-Money), Outstanding | $14.80 |
Number of Shares, Exercisable | 11.6 |
Weighted-Average Exercise Price, Exercisable | $7.99 |
Weighted-Average Remaining Contractual Term (in years), Exercisable | '3 years 1 month 6 days |
Aggregate Intrinsic Value (In-The-Money), Exercisable | $12.40 |
ShareBased_Compensation_Additi
Share-Based Compensation (Additional Information On Stock Options Outstanding) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, except Per Share data, unless otherwise specified | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Total exercisable outstanding | 11.6 | ' |
Number of Shares, Unexercisable | 2.4 | ' |
Total options outstanding | 14 | 17.2 |
Option Price Less Than Closing Price Of Common Stock At End Of Quarter [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Number of Shares, Exercisable | 6.2 | ' |
Weighted Average Exercise Price, Exercisable | 6.23 | ' |
Number of Shares, Unexercisable | 1.6 | ' |
Weighted Average Exercise Price, Unexercisable | 6.75 | ' |
Number of Shares, Total | 7.8 | ' |
Weighted Average Exercise Price, Total | 6.33 | ' |
Option Price Above Closing Price Of Common Stock At End Of Quarter [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Number of Shares, Exercisable | 5.4 | ' |
Weighted Average Exercise Price, Exercisable | 9.97 | ' |
Number of Shares, Unexercisable | 0.8 | ' |
Weighted Average Exercise Price, Unexercisable | 8.86 | ' |
Number of Shares, Total | 6.2 | ' |
Weighted Average Exercise Price, Total | 9.82 | ' |
Total Outstanding [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Weighted Average Exercise Price, Exercisable | 7.99 | ' |
Weighted Average Exercise Price, Unexercisable | 7.45 | ' |
Weighted Average Exercise Price, Total | 7.89 | ' |
ShareBased_Compensation_Summar2
Share-Based Compensation (Summary Of Restricted Stock Units Transactions) (Details) (Restricted Stock Units [Member], USD $) | 12 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 |
Restricted Stock Units [Member] | ' |
Restricted Stock Activity [Roll Forward] | ' |
Nonvested shares of restricted stock units beginning | 8.9 |
Number of Shares, Granted | 5.3 |
Number of Shares, Released | -2.3 |
Number of Shares, Cancelled | -1.1 |
Nonvested shares of restricted stock units ending | 10.8 |
Weighted Average Grant Date Fair Value [Roll Forward] | ' |
Weighted Average Grant Date Fair Value, Nonvested shares of restricted stock units beginning | $8.75 |
Weighted Average Grant Date Fair Value, Granted | $7.91 |
Weighted Average Grant Date Fair Value, Released | $7.83 |
Weighted Average Grant Date Fair Value, Forfeited | $8.87 |
Weighted Average Grant Date Fair Value, Nonvested shares of restricted stock units ending | $8.52 |
ShareBased_Compensation_Narrat
Share-Based Compensation (Narrative) (Details) (USD $) | 12 Months Ended | 2 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 16, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | 15-May-12 | 14-May-12 | 15-May-13 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | 31-May-09 | Dec. 31, 2013 | Dec. 31, 2013 | |
2000 Stock Incentive Plan [Member] | 2000 Stock Incentive Plan [Member] | Amended And Restated Stock Incentive Plan [Member] | Amended And Restated Stock Incentive Plan [Member] | Amended And Restated Stock Incentive Plan [Member] | Employee Stock [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Time Based Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Performance Based Restricted Stock Units [Member] | Restricted Stock [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Director [Member] | Officers And Employees [Member] | ||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Restricted Stock [Member] | Restricted Stock Units [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized share-based compensation expense on non-vested stock awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,500,000 | ' | ' | $38,400,000 | $34,200,000 | ' | ' | ' | ' | $4,200,000 | ' | ' | ' | ' | ' |
Recognition period for compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years 2 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Intrinsic value of stock options exercised | 4,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash received from exercise of stock options | 12,100,000 | 9,400,000 | 59,400,000 | ' | ' | ' | ' | ' | ' | 12,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of common stock under the employee stock purchase plan | 8,300,000 | 8,300,000 | 8,100,000 | ' | ' | ' | ' | ' | ' | 8,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pre-vesting forfeitures | 11.00% | 11.00% | 11.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 4.00% | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock reserved and available for grant | ' | ' | ' | 30,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional common shares reserved for issuance as a percentage of common stock outstanding | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Award vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '4 years | ' | ' | ' | ' | '3 years | '4 years | ' | ' | ' | ' | ' | ' |
Term of grant agreement | ' | ' | ' | ' | '10 years | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period after terminition in which options can be exercised | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate of common stock available for grant | ' | ' | ' | ' | ' | 37,400,000 | ' | ' | 18,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of options vested and expected to vest | 13,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average exercise price of options vested and expected to vest | $7.91 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net stock options as a percentage of outstanding shares at beginning of period | -0.24% | 0.07% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options granted as a percentage of outstanding shares at end of period | 0.03% | 0.62% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Price | $8.24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity awards granted in period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 1,600,000 |
Compensation expense recognized on restricted stock units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,200,000 | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average grant date fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $7.91 | ' | ' | ' | ' | ' | ' | ' | ' | $8.49 | ' |
Share-based compensation expenses | 32,300,000 | 20,500,000 | 33,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,300,000 | ' | ' | 1,400,000 | ' |
Maximum employee subscription rate for the ESPP | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount rate from market value paid by participants for shares under the plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' |
Maximum annual amount of purchases per employee under the plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000 | ' | ' | ' |
Shares authorized for purchase per employee per quarter | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500 | ' | ' | ' |
Maximum fair value of shares employee may purchase in a quarter | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6,250 | ' | ' | ' |
Shares issued pursuant to the employee stock purchase plan, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | 1,400,000 | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares available for issuance under the plan | ' | ' | ' | ' | ' | ' | 59,100,000 | 33,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000,000 | ' | ' |
Employee_Benefit_Plans_Narrati
Employee Benefit Plans (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Actuarial Gain (Loss) | ($14.30) | ($13.90) | ' |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments | 15.6 | 6.6 | -2 |
Defined Contribution Plan, Employer Discretionary Contribution Amount | ' | 7.5 | ' |
Total underfunded status | 128.9 | ' | ' |
Expected company contribution in the current period | 14.8 | ' | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 44.4 | ' | ' |
Employer contribution as percentage of employee contribution | 100.00% | ' | ' |
Percentage of employee contribution, basis for employer contribution | 4.00% | ' | ' |
Restructuring Charges [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 25.9 | ' | ' |
Foreign Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Compensation expense recognized | 4.1 | 3.4 | 2 |
Savings Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Compensation expense recognized | 8.4 | 8.3 | 8.7 |
Equity Securities [Member] | Foreign Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Assets of foreign plans investment in equity securities | 18.00% | 0.00% | ' |
Debt Securities [Member] | Foreign Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Assets of foreign plans investment in equity securities | 23.00% | 3.00% | ' |
Corporate bonds [Member] | Foreign Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Assets of foreign plans investment in equity securities | 46.00% | 25.00% | ' |
Cash and Cash Equivalents [Member] | Foreign Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Assets of foreign plans investment in equity securities | 4.00% | 62.00% | ' |
Other Investments [Member] | Foreign Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Assets of foreign plans investment in equity securities | 9.00% | 10.00% | ' |
Multiemployer Plans, Pension [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Multiemployer Plans, withdrawal obligation | ' | 214.5 | ' |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Fair Value of Plan Assets | ' | 83.6 | ' |
Defined Benefit Plan, Net Pension Benefit Obligation | ' | 130.9 | ' |
Pension and Other Postretirement Benefit Expense | ' | 10.7 | 16.4 |
Q1 2013 Voluntary Retirement Program [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Actuarial Gain (Loss) | -13.6 | ' | ' |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments | 12.7 | ' | ' |
Q4 2013 Voluntary Retirement Program [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Actuarial Gain (Loss) | 7.4 | ' | ' |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments | $2.90 | ' | ' |
Employee_Benefit_Plans_Summary
Employee Benefit Plans (Summary Of Net Periodic Pension Cost) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | ' | ' |
Service cost | $12.20 | $7.50 | $9.40 |
Interest cost | 6.6 | 5.3 | 5.2 |
Expected return on plan assets | -4.1 | -3.5 | -4 |
Amortization of prior service cost | 0 | 0.1 | 2.6 |
Curtailment (gain) loss | -15.6 | -6.6 | 2 |
Actuarial and other loss (gain) | 6.2 | 12.5 | -3.1 |
Total net periodic pension cost | $5.30 | $15.30 | $12.10 |
Discount rate | 2.14% | 2.44% | 3.50% |
Expected return on plan assets | 2.18% | 3.21% | 4.07% |
Rate of compensation increase | 3.17% | 3.05% | 4.66% |
Employee_Benefit_Plans_Summary1
Employee Benefit Plans (Summary Of Status Of Foreign Pension Plans) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Change in projected benefit obligation | ' | ' | ' |
Projected benefit obligation at the beginning of the year | $379.80 | $176.40 | ' |
Benefit obligation assumed upon withdrawal from Systems Solutions Group multi-employer plans | 0 | 214.5 | ' |
Service cost | 12.2 | 7.5 | 9.4 |
Interest cost | 6.6 | 5.3 | 5.2 |
Net actuarial loss | 14.3 | 13.9 | ' |
Benefits paid by plan assets | -22.3 | -13.3 | ' |
Benefits paid by the Company | -32.1 | -11.4 | ' |
Curtailment gain | -15.6 | -6.6 | ' |
Translation gain and other | -50.6 | -6.5 | ' |
Projected benefit obligation at the end of the year | 292.3 | 379.8 | 176.4 |
Accumulated benefit obligation at the end of the year | 254.9 | 281.2 | ' |
Change in plan assets | ' | ' | ' |
Fair value of plan assets at the beginning of the year | 178.4 | 105.5 | ' |
Assets assumed due to withdrawal from multi-employer plans | 0 | 83.6 | ' |
Transfer to defined contribution plan | 0 | -7.5 | ' |
Actual return on plan assets | 12.2 | 5.4 | ' |
Benefits paid from plan assets | -22.3 | -13.3 | ' |
Employer contributions | 16.2 | 6.6 | ' |
Translation and other loss | -21.1 | -1.9 | ' |
Fair value of plan assets at the end of the year | 163.4 | 178.4 | 105.5 |
Plans with underfunded or non-funded accumulated benefit obligation | ' | ' | ' |
Aggregate accumulated benefit obligation | 220.7 | 248.8 | ' |
Aggregate fair value of plan assets | 116.2 | 124.8 | ' |
Amounts recognized in the balance sheet consist of | ' | ' | ' |
Non-current assets | 0.6 | 0.2 | ' |
Current liabilities | -10.4 | -7.4 | ' |
Non-current liabilities | -119.1 | -194.2 | ' |
Funded status | -128.9 | -201.4 | ' |
Amounts recognized in accumulated other comprehensive income consist of | ' | ' | ' |
Prior service cost | $0 | $0.10 | ' |
Weighted average assumptions at the end of the year | ' | ' | ' |
Discount rate | 2.14% | 2.44% | ' |
Rate of compensation increase | 3.17% | 3.05% | ' |
Employee_Benefit_Plans_Fair_Va
Employee Benefit Plans (Fair Value Measurement Of Plan Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Millions, unless otherwise specified | |||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | $163.40 | $178.40 | $105.50 | ||
Cash/Money Markets [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 7.5 | 111.4 | ' | ||
Foreign Government Securities [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 8.7 | [1] | 12.6 | [1] | ' |
Corporate Bonds, Debentures [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 36.8 | [2] | 4.4 | [2] | ' |
Equity Securities [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 29.4 | [3] | ' | ' | |
Mutual Funds [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 5.8 | 4.6 | ' | ||
Insurance Contracts [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 75.2 | [4] | 45.4 | [4] | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 53.1 | 120.8 | ' | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Cash/Money Markets [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 7.5 | 111.4 | ' | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Foreign Government Securities [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 7.8 | [1] | 9 | [1] | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate Bonds, Debentures [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 17.9 | [2] | 0.4 | [2] | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity Securities [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 19.9 | [3] | ' | ' | |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Mutual Funds [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 0 | 0 | ' | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Insurance Contracts [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 0 | [4] | 0 | [4] | ' |
Significant Observable Inputs (Level 2) [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 61.5 | 9.6 | ' | ||
Significant Observable Inputs (Level 2) [Member] | Cash/Money Markets [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 0 | 0 | ' | ||
Significant Observable Inputs (Level 2) [Member] | Foreign Government Securities [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 0.9 | [1] | 3.6 | [1] | ' |
Significant Observable Inputs (Level 2) [Member] | Corporate Bonds, Debentures [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 18 | [2] | 0.7 | [2] | ' |
Significant Observable Inputs (Level 2) [Member] | Equity Securities [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 9.5 | [3] | ' | ' | |
Significant Observable Inputs (Level 2) [Member] | Mutual Funds [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 5.8 | 4.6 | ' | ||
Significant Observable Inputs (Level 2) [Member] | Insurance Contracts [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 27.3 | [4] | 0.7 | [4] | ' |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 48.8 | 48 | 5.1 | ||
Significant Unobservable Inputs (Level 3) [Member] | Cash/Money Markets [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 0 | 0 | ' | ||
Significant Unobservable Inputs (Level 3) [Member] | Foreign Government Securities [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 0 | [1] | 0 | [1] | ' |
Significant Unobservable Inputs (Level 3) [Member] | Corporate Bonds, Debentures [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 0.9 | [2] | 3.3 | [2] | 4.1 |
Significant Unobservable Inputs (Level 3) [Member] | Equity Securities [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 0 | [3] | ' | ' | |
Significant Unobservable Inputs (Level 3) [Member] | Mutual Funds [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | 0 | 0 | ' | ||
Significant Unobservable Inputs (Level 3) [Member] | Insurance Contracts [Member] | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ||
Plan assets | $47.90 | [4] | $44.70 | [4] | $1 |
[1] | Includes investments primarily in guaranteed return securities. | ||||
[2] | Includes investments in government bonds and corporate bonds of developed countries, emerging market government bonds, emerging market corporate bonds and convertible bonds. | ||||
[3] | Includes investments in equity securities of developed countries and emerging markets. | ||||
[4] | Includes certain investments with insurance companies which guarantee a minimum rate of return on the investment. |
Employee_Benefit_Plans_Activit
Employee Benefit Plans (Activity Of Plan Assets With Fair Value Measurement Using Significant Unobservable Inputs) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Fair value of plan assets at the beginning of the year | $178.40 | $105.50 | ||
Actual return on plan assets | 12.2 | 5.4 | ||
Fair value of plan assets at the end of the year | 163.4 | 178.4 | ||
Corporate Bonds, Debentures [Member] | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Fair value of plan assets at the end of the year | 36.8 | [1] | 4.4 | [1] |
Insurance Contracts [Member] | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Fair value of plan assets at the end of the year | 75.2 | [2] | 45.4 | [2] |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Fair value of plan assets at the beginning of the year | 48 | 5.1 | ||
Purchase, sales and settlements | -2.7 | -1.5 | ||
Transfers in and/or out of Level 3 | ' | 44.4 | ||
Actual return on plan assets | 3.5 | ' | ||
Fair value of plan assets at the end of the year | 48.8 | 48 | ||
Significant Unobservable Inputs (Level 3) [Member] | Corporate Bonds, Debentures [Member] | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Fair value of plan assets at the beginning of the year | 3.3 | [1] | 4.1 | |
Purchase, sales and settlements | -2.4 | -1.2 | ||
Transfers in and/or out of Level 3 | ' | 0.4 | ||
Actual return on plan assets | 0 | ' | ||
Fair value of plan assets at the end of the year | 0.9 | [1] | 3.3 | [1] |
Significant Unobservable Inputs (Level 3) [Member] | Insurance Contracts [Member] | ' | ' | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Fair value of plan assets at the beginning of the year | 44.7 | [2] | 1 | |
Purchase, sales and settlements | -0.3 | -0.3 | ||
Transfers in and/or out of Level 3 | ' | 44 | ||
Actual return on plan assets | 3.5 | ' | ||
Fair value of plan assets at the end of the year | $47.90 | [2] | $44.70 | [2] |
[1] | Includes investments in government bonds and corporate bonds of developed countries, emerging market government bonds, emerging market corporate bonds and convertible bonds. | |||
[2] | Includes certain investments with insurance companies which guarantee a minimum rate of return on the investment. |
Employee_Benefit_Plans_Expecte
Employee Benefit Plans (Expected Benefit Payments) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' |
2014 | $44.40 |
2015 | 2.3 |
2016 | 2.3 |
2017 | 2.6 |
2018 | 3.5 |
5 years thereafter | 46.9 |
Total | $102 |
Commitments_And_Contingencies_1
Commitments And Contingencies (Operating Leases Future Minimum Payments Receivable) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
2014 | $18.40 |
2015 | 13.9 |
2016 | 10.8 |
2017 | 8.7 |
2018 | 13.6 |
Thereafter | 26 |
Total | $91.40 |
Commitments_And_Contingencies_2
Commitments And Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Loss Contingencies [Line Items] | ' | ' | ' |
Total rent expense | $22,000,000 | $24,000,000 | $27,700,000 |
Availability under senior revolving credit facility | 40,000,000 | ' | ' |
Outstanding guarantees and letters of credit | 5,800,000 | ' | ' |
Guarantees related to capital lease obligations | 77,100,000 | ' | ' |
Net carrying value | 942,200,000 | 1,011,900,000 | ' |
SANYO Electric [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Net carrying value | 273,700,000 | 302,000,000 | ' |
Senior Revolving Credit Facility [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Net carrying value | 120,000,000 | 0 | ' |
Senior Revolving Credit Facility [Member] | Letter of Credit [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Credit commitment outstanding | $200,000 | ' | ' |
Fair_Value_Of_Financial_Instru1
Fair Value Of Financial Instruments (Fair Value Of Assets And Liabilities Measured On Recurring Basis) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Estimate of Fair Value [Member] | Demand and time deposits [Member] | ' | ' |
Cash and cash equivalents | $447.50 | $385.90 |
Estimate of Fair Value [Member] | Treasuries [Member] | ' | ' |
Cash and cash equivalents | 0 | 100.7 |
Estimate of Fair Value [Member] | Corporate bonds [Member] | ' | ' |
Cash and cash equivalents | 0 | 0.3 |
Estimate of Fair Value [Member] | Foreign Exchange Contract [Member] | ' | ' |
Other Current Assets | 0 | 3.2 |
Liabilities | 0.1 | 0 |
Quoted Prices in Active Markets (Level 1) [Member] | Demand and time deposits [Member] | ' | ' |
Cash and cash equivalents | ' | 385.9 |
Quoted Prices in Active Markets (Level 1) [Member] | Treasuries [Member] | ' | ' |
Cash and cash equivalents | 0 | 100.7 |
Quoted Prices in Active Markets (Level 1) [Member] | Corporate bonds [Member] | ' | ' |
Cash and cash equivalents | 0 | 0.3 |
Quoted Prices in Active Markets (Level 1) [Member] | Foreign Exchange Contract [Member] | ' | ' |
Other Current Assets | 0 | 3.2 |
Liabilities | 0.1 | 0 |
Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value [Member] | Money Market Funds [Member] | ' | ' |
Cash and cash equivalents | 62 | 0 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | Demand and time deposits [Member] | ' | ' |
Cash and cash equivalents | 447.5 | ' |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | Money Market Funds [Member] | ' | ' |
Cash and cash equivalents | $62 | $0 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements Fair Value of Short-term Investments (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Carried at Amortized Cost | $116.20 | $144.80 |
Unrecognized Gain/(Loss) | 0 | -0.1 |
Fair Value | 116.2 | 144.7 |
Commercial paper [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Carried at Amortized Cost | 15.5 | 25.5 |
Unrecognized Gain/(Loss) | 0 | 0 |
Fair Value | 15.5 | 25.5 |
Corporate bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Carried at Amortized Cost | 93.7 | 119.3 |
Unrecognized Gain/(Loss) | 0 | -0.1 |
Fair Value | 93.7 | 119.2 |
Government agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Carried at Amortized Cost | 7 | 0 |
Unrecognized Gain/(Loss) | 0 | 0 |
Fair Value | $7 | $0 |
Fair_Value_Of_Financial_Instru2
Fair Value Of Financial Instruments (Carrying Amounts And Fair Values Of Long-Term Borrowings) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Convertible Notes [Member] | Convertible Notes [Member] | Long-term Debt [Member] | Long-term Debt [Member] | System Solutions Group [Member] | System Solutions Group Asset Impairment [Member] | System Solutions Group Asset Impairment [Member] | ||||
Adjustment [Member] | Adjustment [Member] | Adjustment [Member] | Adjustment [Member] | |||||||||||
Level 3 [Member] | Level 3 [Member] | |||||||||||||
Carrying Amount | ' | ' | ' | ' | ' | ' | ' | $335.20 | $473.10 | $510.20 | $403.90 | ' | ' | ' |
Fair Value | ' | ' | ' | ' | ' | ' | ' | 392.6 | 530.9 | 511.4 | 380.6 | ' | ' | ' |
Property, Plant, and Equipment, Fair Value Disclosure | ' | ' | ' | ' | ' | 8 | 103 | ' | ' | ' | ' | ' | ' | ' |
Goodwill of impaired reporting unit | 8.7 | 134.1 | ' | ' | ' | 0 | 14.1 | ' | ' | ' | ' | ' | ' | ' |
Intangible Assets (Excluding Goodwill), Fair Value Disclosure | 0 | 8.2 | ' | ' | ' | 0 | 35.4 | ' | ' | ' | ' | ' | ' | ' |
Assets, Fair Value Disclosure | 8.7 | 142.3 | ' | 8 | 152.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 126 | ' | ' |
Asset impairment charges | 8 | 103 | 86.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 94.4 | 94.4 |
Impairment of Intangible Assets, Finite-lived | $40.60 | $40.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $31.60 | ' | ' |
Financial_Instruments_Schedule
Financial Instruments (Schedule Of Net Foreign Exchange Positions) (Details) (Foreign Exchange Contract [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Financial Instruments [Line Items] | ' | ' |
Buy (Sell) | $20.90 | ($105.30) |
Notional Amount | 101.7 | 197.3 |
Euro [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Buy (Sell) | -30.5 | -17.4 |
Notional Amount | 30.5 | 17.4 |
Japanese Yen [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Buy (Sell) | -6.7 | -123.3 |
Notional Amount | 6.7 | 123.3 |
Malaysian Ringgit [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Buy (Sell) | 35.8 | 32.7 |
Notional Amount | 35.8 | 32.7 |
Philippine Peso [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Buy (Sell) | 11.7 | 4.2 |
Notional Amount | 11.7 | 4.2 |
Other Currencies [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Buy (Sell) | 10.6 | -1.5 |
Notional Amount | $17 | $19.70 |
Financial_Instruments_Narrativ
Financial Instruments (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Other assets | $89,300,000 | $122,200,000 | ' |
Other liabilities | 819,200,000 | 1,024,300,000 | ' |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | -2,600,000 | 800,000 | 0 |
Not Designated as Hedging Instrument [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Other assets | 0 | 2,400,000 | ' |
Other liabilities | 100,000 | 0 | ' |
Other Liabilities [Member] | Cash Flow Hedging [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Derivative Liability, Fair Value, Gross Liability | 1,800,000 | 0 | ' |
Other Current Assets [Member] | Cash Flow Hedging [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Derivative asset amount | 0 | 800,000 | ' |
Foreign Exchange Contract [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Derivative amount | 101,700,000 | 197,300,000 | ' |
Realized and unrealized foreign currency transaction gain (loss) | 5,500,000 | 3,500,000 | -8,900,000 |
Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Derivative amount | $42,900,000 | ' | ' |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | |||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Federal [Member] | State [Member] | Foreign [Member] | Stock Option Deductions [Member] | Restatement Adjustment [Member] | |||||
Netting of Deferred Tax Assets with Deferred Tax Liabilities [Member] | |||||||||
Income Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Error correction - increase to deferred tax assets | ' | ' | ' | ' | ' | ' | ' | ' | $10,700,000 |
Error correction - increase to deferred tax liabilities | ' | ' | ' | ' | ' | ' | ' | ' | 10,700,000 |
Error correction - corresponding increase in valuation allowance for the increase in deferred tax assets | 1,327,200,000 | 1,420,100,000 | ' | ' | ' | ' | ' | 194,000,000 | 10,700,000 |
Error correction - Provision for income taxes | 26,900,000 | 13,400,000 | 22,900,000 | ' | ' | ' | ' | ' | 10,700,000 |
Net operating loss carryforwards | ' | ' | ' | ' | 1,043,700,000 | 1,110,500,000 | 1,718,900,000 | ' | ' |
Limitation for the use of federal NOL's | 93,100,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Income and withholding taxes, foreign | 22,200,000 | 21,700,000 | 19,400,000 | ' | ' | ' | ' | ' | ' |
New reserves and interest on existing reserve for potential liabilities | 900,000 | 900,000 | 2,900,000 | ' | ' | ' | ' | ' | ' |
Deferred federal income taxes associated with tax deductible goodwill | 13,200,000 | 0 | 0 | ' | ' | ' | ' | ' | ' |
Additional valuation allowance | 6,000,000 | -7,800,000 | -3,200,000 | ' | ' | ' | ' | ' | ' |
Reversal of reserves and interest for potential liabilities | 3,400,000 | 1,400,000 | ' | ' | ' | ' | ' | ' | ' |
Reversal of accrued income taxes for anticipated audit issues | ' | ' | 2,600,000 | ' | ' | ' | ' | ' | ' |
Undistributed earnings to be reinvested | 1,378,500,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated foreign witholding taxes on repatriation of foreign income | 10,300,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated federal taxes on repatriation of foreign income | 31,900,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated state income taxes on repatriation of foreign income | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Balance of unrecognized tax benefit | 20,900,000 | 34,800,000 | 18,600,000 | 13,400,000 | ' | ' | ' | ' | ' |
Unrecognized tax position, that would affect the annual effective tax rate | 13,700,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Change in tax position reasonably possible | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Interest and penalties recognized | 500,000 | 200,000 | -100,000 | ' | ' | ' | ' | ' | ' |
Accrued interest and penalties | $3,600,000 | $3,000,000 | $2,900,000 | ' | ' | ' | ' | ' | ' |
Income_Taxes_Income_Loss_Befor
Income Taxes (Income (Loss) Before Income Taxes And Minority Interests) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
United States | ($76.80) | ($72) | ($143.90) |
Foreign | 257.7 | -0.9 | 181.7 |
Income (loss) before income taxes | $180.90 | ($72.90) | $37.80 |
Income_Taxes_Provision_Benefit
Income Taxes (Provision (Benefit) For Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current: | ' | ' | ' |
Federal | ($0.40) | $0.20 | $0.50 |
State and local | 0.3 | -0.1 | 0.3 |
Foreign | 15.9 | 16.4 | 25 |
Current, Provision (benefit) for income taxes | 15.8 | 16.5 | 25.8 |
Deferred: | ' | ' | ' |
Federal | 13.2 | 0 | 0 |
Foreign | -2.1 | -3.1 | -2.9 |
Deferred, Provision (benefit) for income taxes | 11.1 | -3.1 | -2.9 |
Provision (benefit) for income taxes | $26.90 | $13.40 | $22.90 |
Income_Taxes_Reconciliation_Of
Income Taxes (Reconciliation Of The U.S. Federal Statutory Income Tax Rate) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
U.S. federal statutory rate | 35.00% | 35.00% | 35.00% |
Increase (decrease) resulting from: | ' | ' | ' |
State and local taxes, net of federal tax benefit | 0.20% | 0.10% | 0.70% |
Foreign withholding taxes | 0.00% | -0.30% | 0.10% |
Foreign rate differential | -38.50% | 10.40% | -588.00% |
Dividend income from foreign subsidiaries | 10.60% | -62.70% | 146.10% |
Goodwill impairment | 0.00% | -6.80% | 0.00% |
Gain on SANYO Semiconductor Transaction | 0.00% | 0.00% | -22.50% |
Change in valuation allowance | 8.20% | -1.60% | 491.50% |
Tax reserves | -0.90% | -2.30% | 0.80% |
Return to accrual | -0.10% | 12.30% | 0.00% |
Other | 0.40% | -2.50% | -3.10% |
Effective income tax rate | 14.90% | -18.40% | 60.60% |
Income_Taxes_Tax_Effects_Of_Te
Income Taxes (Tax Effects Of Temporary Differences) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Net operating loss and tax credit carryforwards | $1,023.90 | $952 |
Tax-deductible goodwill and amortizable intangibles | -7.7 | 18.2 |
Reserves and accruals | 82.5 | 98.8 |
Property, plant and equipment | 81.4 | 147.2 |
Inventories | 28.1 | 83.8 |
Other | 105.2 | 116 |
Deferred tax assets and liabilities before valuation allowance | 1,313.40 | 1,416 |
Valuation allowance | -1,327.20 | -1,420.10 |
Net deferred tax asset (liability) | ($13.80) | ($4.10) |
Income_Taxes_Activity_For_Unre
Income Taxes (Activity For Unrecognized Gross Tax Benefits) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Unrecognized Gross Tax Benefits | ' | ' | ' |
Balance at beginning of year | $34.80 | $18.60 | $13.40 |
Reserves acquired | 0 | 0 | 1.3 |
Additions based on tax positions related to the current year | 0.7 | 18.4 | 5.5 |
Additions for tax positions of prior years | 0 | 0 | 0.8 |
Reductions for tax positions of prior years | -10.9 | -0.8 | -1.4 |
Lapse of statute | -3.7 | -1.2 | -1 |
Settlements | 0 | -0.2 | 0 |
Balance at end of year | $20.90 | $34.80 | $18.60 |
Changes_in_Accumulated_Other_C2
Changes in Accumulated Other Comprehensive Loss Company's Accumulated Other Comprehensive Loss (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' | ' |
Beginning Balance | ($41.10) | ' | ' |
Other comprehensive income (loss) prior to reclassifications | 17.2 | ' | ' |
Amounts reclassified from accumulated other comprehensive loss | -23.5 | ' | ' |
Net current period other comprehensive loss | -6.3 | 5.6 | 12.4 |
Ending Balance | -47.4 | -41.1 | ' |
Accumulated Translation Adjustment [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' | ' |
Beginning Balance | -42.2 | ' | ' |
Other comprehensive income (loss) prior to reclassifications | 17.2 | ' | ' |
Amounts reclassified from accumulated other comprehensive loss | -21 | ' | ' |
Net current period other comprehensive loss | -3.8 | ' | ' |
Ending Balance | -46 | ' | ' |
Accumulated Defined Benefit Plans Adjustment [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' | ' |
Beginning Balance | -0.1 | ' | ' |
Other comprehensive income (loss) prior to reclassifications | 0.1 | ' | ' |
Amounts reclassified from accumulated other comprehensive loss | 0 | ' | ' |
Net current period other comprehensive loss | 0.1 | ' | ' |
Ending Balance | 0 | ' | ' |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' | ' |
Beginning Balance | 0.8 | ' | ' |
Other comprehensive income (loss) prior to reclassifications | -0.1 | ' | ' |
Amounts reclassified from accumulated other comprehensive loss | -2.5 | ' | ' |
Net current period other comprehensive loss | -2.6 | ' | ' |
Ending Balance | -1.8 | ' | ' |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' | ' |
Beginning Balance | 0.4 | ' | ' |
Other comprehensive income (loss) prior to reclassifications | 0 | ' | ' |
Amounts reclassified from accumulated other comprehensive loss | 0 | ' | ' |
Net current period other comprehensive loss | 0 | ' | ' |
Ending Balance | $0.40 | ' | ' |
Changes_in_Accumulated_Other_C3
Changes in Accumulated Other Comprehensive Loss Reclassifications from Accumulated Other Comprehensive loss (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Restructuring, asset impairments and other, net | $33.20 | $165.30 | $102.70 |
Other income and expense | 3.1 | 5.8 | -8.9 |
Net income (loss) | 154 | -86.3 | 14.9 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Net income (loss) | -23.5 | ' | ' |
Accumulated Translation Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Restructuring, asset impairments and other, net | -21 | ' | ' |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' |
Other income and expense | ($2.50) | ' | ' |
Changes_in_Accumulated_Other_C4
Changes in Accumulated Other Comprehensive Loss Narrative (Details) (USD $) | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Sep. 27, 2013 | Dec. 31, 2013 | Sep. 27, 2013 | |
Accumulated Translation Adjustment [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Income Tax Expense (Benefit) | $26,900,000 | $13,400,000 | $22,900,000 | ' | ' | ' | $0 |
Amounts reclassified from accumulated other comprehensive loss | -23,500,000 | ' | ' | -21,000,000 | ' | -2,500,000 | ' |
Reclassification from accumulated other comprehensive loss, tax | ' | ' | ' | ' | $0 | ' | ' |
Supplemental_Disclosures_NonCa
Supplemental Disclosures (Non-Cash Financing Activities And Cash Payments) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Non-cash financing activities: | ' | ' | ' |
Capital expenditures in accounts payable | $55.80 | $54.40 | $58.80 |
Equipment acquired or refinanced through capital leases | 3.8 | 31 | 24.9 |
Cash (received) paid for: | ' | ' | ' |
Interest income | -1.3 | -1.5 | -1.1 |
Interest expense | 24.8 | 30.4 | 31.8 |
Income taxes | 12.9 | 17.6 | 20.4 |
Income form business interruption insurance proceeds | 13.5 | 16.4 | ' |
Insurance Recoveries | ' | 11.5 | 13.3 |
Gain (Loss) on Sale of Insurance Block | $0 | $0 | $23.90 |
Segment_Information_Narrative_
Segment Information (Narrative) (Details) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Individual | Customer | Individual | Individual | |
segment | segment | |||
Segment Reporting, Measurement Disclosures [Abstract] | ' | ' | ' | ' |
Number of reporting segments | 3 | 3 | ' | ' |
Number of customers individually accounting for more than 10% of total revenue | 0 | 0 | 0 | 0 |
Percentage of total revenue | 10.00% | 10.00% | 10.00% | 10.00% |
Segment_Information_Segment_In
Segment Information (Segment Information Of Revenues, Gross Profit And Operating Income) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 27, 2013 | Jun. 28, 2013 | Mar. 29, 2013 | Dec. 31, 2012 | Sep. 28, 2012 | Jun. 29, 2012 | Mar. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues from external customers | $718 | $715.40 | $688.30 | $661 | $680.20 | $725.50 | $744.80 | $744.40 | $2,782.70 | $2,894.90 | $3,442.30 |
Segment gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 949.7 | 1,003.20 | 1,063.80 |
Segment operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 272.5 | 259.4 | 286 |
Application Products Group [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 1,036.30 | 1,019.20 | 1,145.50 |
Segment gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 455.6 | 459.2 | 549 |
Segment operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 110.6 | 111.2 | 190.8 |
Standard Products Group [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 1,121.20 | 1,104.70 | 1,236.50 |
Segment gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 390.7 | 400.9 | 435.7 |
Segment operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 228.2 | 240 | 254.6 |
System Solutions Group [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 625.2 | 771 | 1,060.30 |
Segment gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 103.4 | 143.1 | 79.1 |
Segment operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ($66.30) | ($91.80) | ($159.40) |
Segment_Information_Reconcilia
Segment Information (Reconciliations Of Segment Gross Profit And Segment Operating Income) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 27, 2013 | Jun. 28, 2013 | Mar. 29, 2013 | Dec. 31, 2012 | Sep. 28, 2012 | Jun. 29, 2012 | Mar. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross profit for reportable segments | ' | ' | ' | ' | ' | ' | ' | ' | $949.70 | $1,003.20 | $1,063.80 |
Gross Profit | 252.9 | 249.2 | 231.8 | 204.5 | 210.4 | 238 | 258.3 | 245.2 | 938.4 | 951.9 | 1,008.80 |
Operating income for reportable segments | ' | ' | ' | ' | ' | ' | ' | ' | 272.5 | 259.4 | 286 |
Goodwill and intangible impairment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -49.5 | 0 |
Other unallocated operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | -720.2 | -968.2 | -895.4 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 218.2 | -16.3 | 113.4 |
Significant Reconciling Items | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other unallocated manufacturing costs | ' | ' | ' | ' | ' | ' | ' | ' | -11.3 | -51.3 | -55 |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | ' | 938.4 | 951.9 | 1,008.80 |
Restructuring and other charges | ' | ' | ' | ' | ' | ' | ' | ' | -33.2 | -165.3 | -102.7 |
Goodwill and intangible impairment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -49.5 | 0 |
Other unallocated manufacturing costs | ' | ' | ' | ' | ' | ' | ' | ' | -11.3 | -51.3 | -55 |
Other unallocated operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | ($9.80) | ($9.60) | ($14.90) |
Segment_Information_Revenues_B
Segment Information (Revenues By Geographic Location Including Local Sales And Exports) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 27, 2013 | Jun. 28, 2013 | Mar. 29, 2013 | Dec. 31, 2012 | Sep. 28, 2012 | Jun. 29, 2012 | Mar. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues | $718 | $715.40 | $688.30 | $661 | $680.20 | $725.50 | $744.80 | $744.40 | $2,782.70 | $2,894.90 | $3,442.30 |
United States | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 415.4 | 452 | 524 |
United Kingdom | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 400.2 | 388.3 | 424.7 |
China | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 862.4 | 874.2 | 1,053.80 |
Japan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 290.2 | 401.2 | 494.8 |
Singapore | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 700.6 | 627.7 | 683.3 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | $113.90 | $151.50 | $261.70 |
Segment_Information_Summary_Of
Segment Information (Summary Of Property, Plant And Equipment By Geographic Location) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
In Millions, unless otherwise specified | ||||
Property, plant and equipment, net | $1,074.20 | [1] | $1,103.30 | $1,109.50 |
United States | ' | ' | ' | |
Property, plant and equipment, net | 255.3 | 274.7 | 257.5 | |
Czech Republic | ' | ' | ' | |
Property, plant and equipment, net | 111.1 | 118 | 91.6 | |
Malaysia | ' | ' | ' | |
Property, plant and equipment, net | 213.9 | 185 | 164.5 | |
Philippines | ' | ' | ' | |
Property, plant and equipment, net | 173.8 | 188.8 | 204 | |
Japan | ' | ' | ' | |
Property, plant and equipment, net | 61.3 | 78.9 | 130.2 | |
Other | ' | ' | ' | |
Property, plant and equipment, net | $258.80 | $257.90 | $261.70 | |
[1] | Included in property, plant and equipment are $8.7 million of fixed assets that are held-for-sale as of December 31, 2013. |
Supplementary_Data_Selected_Qu
Supplementary Data Selected Quarterly Data (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 27, 2013 | Jun. 28, 2013 | Mar. 29, 2013 | Dec. 31, 2012 | Sep. 28, 2012 | Jun. 29, 2012 | Mar. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues | $718 | $715.40 | $688.30 | $661 | $680.20 | $725.50 | $744.80 | $744.40 | $2,782.70 | $2,894.90 | $3,442.30 |
Gross Profit | 252.9 | 249.2 | 231.8 | 204.5 | 210.4 | 238 | 258.3 | 245.2 | 938.4 | 951.9 | 1,008.80 |
Net income attributable to ON Semiconductor Corporation (1) | 28.7 | 51.8 | 47.7 | 22.6 | -138.2 | 12.5 | 6.9 | 28.2 | 150.8 | -90.6 | 11.6 |
Diluted net income per common share attributable to ON Semiconductor Corporation (dollars per common share) | $0.06 | $0.11 | $0.11 | $0.05 | ($0.31) | $0.03 | $0.02 | $0.06 | $0.33 | ($0.20) | $0.03 |
Restructuring, asset impairments and other, net | ' | ' | ' | ' | ' | ' | ' | ' | 33.2 | 165.3 | 102.7 |
Parent [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring, asset impairments and other, net | ' | ' | ' | ' | ' | ' | ' | ' | $22.10 | $108 | ' |
Guarantor_And_NonGuarantor_Sta1
Guarantor And Non-Guarantor Statements Guarantor And Non-Guarantor Statements (Narrative) (Details) | Dec. 31, 2013 |
Guarantor And Non-Guarantor Statements [Abstract] | ' |
Ownership percentage of wholly owned domestic subsidiary | 100.00% |
Guarantor_And_NonGuarantor_Sta2
Guarantor And Non-Guarantor Statements (Notes To Consolidated Statement Of Balance Sheet) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | |
Cash and cash equivalents | $509,500,000 | $486,900,000 | $652,900,000 | $623,300,000 | |
Short-term investments | 116,200,000 | 144,800,000 | ' | ' | |
Receivables, net | 383,400,000 | 357,800,000 | ' | ' | |
Inventories | 611,800,000 | 581,700,000 | ' | ' | |
Short-term intercompany receivables | 0 | 0 | ' | ' | |
Other current assets | 89,300,000 | 122,200,000 | ' | ' | |
Total current assets | 1,710,200,000 | 1,693,400,000 | ' | ' | |
Property, plant and equipment, net | 1,074,200,000 | [1] | 1,103,300,000 | 1,109,500,000 | ' |
Goodwill | 184,600,000 | 184,600,000 | 198,700,000 | ' | |
Intangible assets, net | 223,400,000 | 257,000,000 | ' | ' | |
Long-term intercompany receivables | 0 | 0 | ' | ' | |
Other assets | 64,600,000 | 90,100,000 | ' | ' | |
Total assets | 3,257,000,000 | 3,328,400,000 | ' | ' | |
Accounts payable | 276,800,000 | 279,500,000 | ' | ' | |
Accrued expenses | 220,300,000 | 256,700,000 | ' | ' | |
Deferred income on sales to distributors | 140,500,000 | 134,500,000 | ' | ' | |
Current portion of long-term debt | 181,600,000 | 353,600,000 | ' | ' | |
Short-term intercompany payables | 0 | 0 | ' | ' | |
Total current liabilities | 819,200,000 | 1,024,300,000 | ' | ' | |
Long-term debt | 760,600,000 | 658,300,000 | ' | ' | |
Other long-term liabilities | 190,400,000 | 255,100,000 | ' | ' | |
Long-term intercompany payables | 0 | 0 | ' | ' | |
Total liabilities | 1,770,200,000 | 1,937,700,000 | ' | ' | |
Common stock | 5,200,000 | 5,100,000 | ' | ' | |
Additional paid-in capital | 3,210,800,000 | 3,156,400,000 | ' | ' | |
Accumulated other comprehensive loss | -47,400,000 | -41,100,000 | ' | ' | |
Accumulated deficit | -1,142,100,000 | -1,292,900,000 | ' | ' | |
Less: treasury stock, at cost | -572,500,000 | -466,400,000 | ' | ' | |
Total ON Semiconductor Corporation stockholders’ equity | 1,454,000,000 | 1,361,100,000 | ' | ' | |
Non-controlling interest in consolidated subsidiary | 32,800,000 | 29,600,000 | 25,300,000 | ' | |
Total stockholders' equity | 1,486,800,000 | 1,390,700,000 | 1,493,500,000 | 1,388,000,000 | |
Total liabilities and equity | 3,257,000,000 | 3,328,400,000 | ' | ' | |
Issuer [Member] | ' | ' | ' | ' | |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | |
Cash and cash equivalents | 0 | 0 | 0 | 0 | |
Short-term investments | 0 | 0 | ' | ' | |
Receivables, net | 0 | 0 | ' | ' | |
Inventories | 0 | 0 | ' | ' | |
Short-term intercompany receivables | 0 | 0 | ' | ' | |
Other current assets | 0 | 0 | ' | ' | |
Total current assets | 0 | 0 | ' | ' | |
Property, plant and equipment, net | 0 | 0 | ' | ' | |
Goodwill | 0 | 0 | ' | ' | |
Intangible assets, net | 0 | 0 | ' | ' | |
Long-term intercompany receivables | 0 | 0 | ' | ' | |
Other assets | 1,790,200,000 | 1,834,600,000 | ' | ' | |
Total assets | 1,790,200,000 | 1,834,600,000 | ' | ' | |
Accounts payable | 0 | 0 | ' | ' | |
Accrued expenses | 1,000,000 | 500,000 | ' | ' | |
Deferred income on sales to distributors | 0 | 0 | ' | ' | |
Current portion of long-term debt | 0 | 198,900,000 | ' | ' | |
Short-term intercompany payables | 0 | 0 | ' | ' | |
Total current liabilities | 1,000,000 | 199,400,000 | ' | ' | |
Long-term debt | 335,200,000 | 274,100,000 | ' | ' | |
Other long-term liabilities | 0 | 0 | ' | ' | |
Long-term intercompany payables | 0 | 0 | ' | ' | |
Total liabilities | 336,200,000 | 473,500,000 | ' | ' | |
Common stock | 5,200,000 | 5,100,000 | ' | ' | |
Additional paid-in capital | 3,210,800,000 | 3,156,400,000 | ' | ' | |
Accumulated other comprehensive loss | -47,400,000 | -41,100,000 | ' | ' | |
Accumulated deficit | -1,142,100,000 | -1,292,900,000 | ' | ' | |
Less: treasury stock, at cost | -572,500,000 | -466,400,000 | ' | ' | |
Total ON Semiconductor Corporation stockholders’ equity | 1,454,000,000 | 1,361,100,000 | ' | ' | |
Non-controlling interest in consolidated subsidiary | 0 | 0 | ' | ' | |
Total stockholders' equity | 1,454,000,000 | 1,361,100,000 | ' | ' | |
Total liabilities and equity | 1,790,200,000 | 1,834,600,000 | ' | ' | |
SCI LLC [Member] | ' | ' | ' | ' | |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | |
Cash and cash equivalents | 267,900,000 | 212,100,000 | 304,500,000 | 392,300,000 | |
Short-term investments | 116,200,000 | 144,800,000 | ' | ' | |
Receivables, net | 49,800,000 | 45,400,000 | ' | ' | |
Inventories | 46,700,000 | 34,500,000 | ' | ' | |
Short-term intercompany receivables | 0 | 0 | ' | ' | |
Other current assets | 17,800,000 | 12,900,000 | ' | ' | |
Total current assets | 498,400,000 | 449,700,000 | ' | ' | |
Property, plant and equipment, net | 252,300,000 | 272,000,000 | ' | ' | |
Goodwill | 111,500,000 | 111,700,000 | ' | ' | |
Intangible assets, net | 113,000,000 | 128,200,000 | ' | ' | |
Long-term intercompany receivables | 0 | 166,300,000 | ' | ' | |
Other assets | 1,600,600,000 | 1,431,500,000 | ' | ' | |
Total assets | 2,575,800,000 | 2,559,400,000 | ' | ' | |
Accounts payable | 39,100,000 | 24,100,000 | ' | ' | |
Accrued expenses | 50,800,000 | 53,000,000 | ' | ' | |
Deferred income on sales to distributors | 32,300,000 | 34,200,000 | ' | ' | |
Current portion of long-term debt | 79,300,000 | 80,200,000 | ' | ' | |
Short-term intercompany payables | 11,700,000 | 20,400,000 | ' | ' | |
Total current liabilities | 213,200,000 | 211,900,000 | ' | ' | |
Long-term debt | 396,100,000 | 344,100,000 | ' | ' | |
Other long-term liabilities | 42,200,000 | 29,900,000 | ' | ' | |
Long-term intercompany payables | 3,300,000 | 0 | ' | ' | |
Total liabilities | 654,800,000 | 585,900,000 | ' | ' | |
Common stock | 300,000 | 300,000 | ' | ' | |
Additional paid-in capital | 2,335,100,000 | 2,549,300,000 | ' | ' | |
Accumulated other comprehensive loss | -49,200,000 | -41,000,000 | ' | ' | |
Accumulated deficit | -365,200,000 | -535,100,000 | ' | ' | |
Less: treasury stock, at cost | 0 | 0 | ' | ' | |
Total ON Semiconductor Corporation stockholders’ equity | 1,921,000,000 | 1,973,500,000 | ' | ' | |
Non-controlling interest in consolidated subsidiary | 0 | 0 | ' | ' | |
Total stockholders' equity | 1,921,000,000 | 1,973,500,000 | ' | ' | |
Total liabilities and equity | 2,575,800,000 | 2,559,400,000 | ' | ' | |
Other Subsidiaries [Member] | ' | ' | ' | ' | |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | |
Cash and cash equivalents | 0 | 0 | -200,000 | 0 | |
Short-term investments | 0 | 0 | ' | ' | |
Receivables, net | 0 | 0 | ' | ' | |
Inventories | 0 | 0 | ' | ' | |
Short-term intercompany receivables | 4,100,000 | 3,300,000 | ' | ' | |
Other current assets | 0 | 0 | ' | ' | |
Total current assets | 4,100,000 | 3,300,000 | ' | ' | |
Property, plant and equipment, net | 3,100,000 | 2,800,000 | ' | ' | |
Goodwill | 37,300,000 | 37,200,000 | ' | ' | |
Intangible assets, net | 0 | 0 | ' | ' | |
Long-term intercompany receivables | 0 | 0 | ' | ' | |
Other assets | 136,100,000 | 129,500,000 | ' | ' | |
Total assets | 180,600,000 | 172,800,000 | ' | ' | |
Accounts payable | 500,000 | 0 | ' | ' | |
Accrued expenses | 200,000 | 900,000 | ' | ' | |
Deferred income on sales to distributors | 0 | 0 | ' | ' | |
Current portion of long-term debt | 0 | 100,000 | ' | ' | |
Short-term intercompany payables | 0 | 0 | ' | ' | |
Total current liabilities | 700,000 | 1,000,000 | ' | ' | |
Long-term debt | 0 | 0 | ' | ' | |
Other long-term liabilities | 100,000 | 300,000 | ' | ' | |
Long-term intercompany payables | 0 | 0 | ' | ' | |
Total liabilities | 800,000 | 1,300,000 | ' | ' | |
Common stock | 50,900,000 | 50,900,000 | ' | ' | |
Additional paid-in capital | 259,800,000 | 259,200,000 | ' | ' | |
Accumulated other comprehensive loss | 0 | 0 | ' | ' | |
Accumulated deficit | -130,900,000 | -138,600,000 | ' | ' | |
Less: treasury stock, at cost | 0 | 0 | ' | ' | |
Total ON Semiconductor Corporation stockholders’ equity | 179,800,000 | 171,500,000 | ' | ' | |
Non-controlling interest in consolidated subsidiary | 0 | 0 | ' | ' | |
Total stockholders' equity | 179,800,000 | 171,500,000 | ' | ' | |
Total liabilities and equity | 180,600,000 | 172,800,000 | ' | ' | |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | |
Cash and cash equivalents | 241,600,000 | 274,800,000 | 348,600,000 | 231,000,000 | |
Short-term investments | 0 | 0 | ' | ' | |
Receivables, net | 333,600,000 | 312,400,000 | ' | ' | |
Inventories | 562,100,000 | 578,400,000 | ' | ' | |
Short-term intercompany receivables | 7,600,000 | 17,200,000 | ' | ' | |
Other current assets | 71,500,000 | 109,300,000 | ' | ' | |
Total current assets | 1,216,400,000 | 1,292,100,000 | ' | ' | |
Property, plant and equipment, net | 820,600,000 | 830,900,000 | ' | ' | |
Goodwill | 35,800,000 | 35,700,000 | ' | ' | |
Intangible assets, net | 132,200,000 | 154,700,000 | ' | ' | |
Long-term intercompany receivables | 3,300,000 | 0 | ' | ' | |
Other assets | 837,300,000 | 846,200,000 | ' | ' | |
Total assets | 3,045,600,000 | 3,159,600,000 | ' | ' | |
Accounts payable | 237,200,000 | 255,400,000 | ' | ' | |
Accrued expenses | 168,300,000 | 177,800,000 | ' | ' | |
Deferred income on sales to distributors | 108,200,000 | 100,300,000 | ' | ' | |
Current portion of long-term debt | 102,300,000 | 74,400,000 | ' | ' | |
Short-term intercompany payables | 0 | 100,000 | ' | ' | |
Total current liabilities | 616,000,000 | 608,000,000 | ' | ' | |
Long-term debt | 29,300,000 | 40,100,000 | ' | ' | |
Other long-term liabilities | 148,100,000 | 224,900,000 | ' | ' | |
Long-term intercompany payables | 0 | 166,300,000 | ' | ' | |
Total liabilities | 793,400,000 | 1,039,300,000 | ' | ' | |
Common stock | 201,600,000 | 201,600,000 | ' | ' | |
Additional paid-in capital | 1,402,600,000 | 1,402,900,000 | ' | ' | |
Accumulated other comprehensive loss | -38,600,000 | -34,600,000 | ' | ' | |
Accumulated deficit | 686,600,000 | 550,400,000 | ' | ' | |
Less: treasury stock, at cost | 0 | 0 | ' | ' | |
Total ON Semiconductor Corporation stockholders’ equity | 2,252,200,000 | 2,120,300,000 | ' | ' | |
Non-controlling interest in consolidated subsidiary | 0 | 0 | ' | ' | |
Total stockholders' equity | 2,252,200,000 | 2,120,300,000 | ' | ' | |
Total liabilities and equity | 3,045,600,000 | 3,159,600,000 | ' | ' | |
Eliminations [Member] | ' | ' | ' | ' | |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | |
Cash and cash equivalents | 0 | 0 | 0 | 0 | |
Short-term investments | 0 | 0 | ' | ' | |
Receivables, net | 0 | 0 | ' | ' | |
Inventories | 3,000,000 | -31,200,000 | ' | ' | |
Short-term intercompany receivables | -11,700,000 | -20,500,000 | ' | ' | |
Other current assets | 0 | 0 | ' | ' | |
Total current assets | -8,700,000 | -51,700,000 | ' | ' | |
Property, plant and equipment, net | -1,800,000 | -2,400,000 | ' | ' | |
Goodwill | 0 | 0 | ' | ' | |
Intangible assets, net | -21,800,000 | -25,900,000 | ' | ' | |
Long-term intercompany receivables | -3,300,000 | -166,300,000 | ' | ' | |
Other assets | -4,299,600,000 | -4,151,700,000 | ' | ' | |
Total assets | -4,335,200,000 | -4,398,000,000 | ' | ' | |
Accounts payable | 0 | 0 | ' | ' | |
Accrued expenses | 0 | 24,500,000 | ' | ' | |
Deferred income on sales to distributors | 0 | 0 | ' | ' | |
Current portion of long-term debt | 0 | 0 | ' | ' | |
Short-term intercompany payables | -11,700,000 | -20,500,000 | ' | ' | |
Total current liabilities | -11,700,000 | 4,000,000 | ' | ' | |
Long-term debt | 0 | 0 | ' | ' | |
Other long-term liabilities | 0 | 0 | ' | ' | |
Long-term intercompany payables | -3,300,000 | -166,300,000 | ' | ' | |
Total liabilities | -15,000,000 | -162,300,000 | ' | ' | |
Common stock | -252,800,000 | -252,800,000 | ' | ' | |
Additional paid-in capital | -3,997,500,000 | -4,211,400,000 | ' | ' | |
Accumulated other comprehensive loss | 87,800,000 | 75,600,000 | ' | ' | |
Accumulated deficit | -190,500,000 | 123,300,000 | ' | ' | |
Less: treasury stock, at cost | 0 | 0 | ' | ' | |
Total ON Semiconductor Corporation stockholders’ equity | -4,353,000,000 | -4,265,300,000 | ' | ' | |
Non-controlling interest in consolidated subsidiary | 32,800,000 | 29,600,000 | ' | ' | |
Total stockholders' equity | -4,320,200,000 | -4,235,700,000 | ' | ' | |
Total liabilities and equity | ($4,335,200,000) | ($4,398,000,000) | ' | ' | |
[1] | Included in property, plant and equipment are $8.7 million of fixed assets that are held-for-sale as of December 31, 2013. |
Guarantor_And_NonGuarantor_Sta3
Guarantor And Non-Guarantor Statements (Notes To Consolidated Statement Of Operations) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2013 | Sep. 27, 2013 | Jun. 28, 2013 | Mar. 29, 2013 | Dec. 31, 2012 | Sep. 28, 2012 | Jun. 29, 2012 | Mar. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $718,000,000 | $715,400,000 | $688,300,000 | $661,000,000 | $680,200,000 | $725,500,000 | $744,800,000 | $744,400,000 | $2,782,700,000 | $2,894,900,000 | $3,442,300,000 |
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,844,300,000 | 1,943,000,000 | 2,433,500,000 |
Gross profit | 252,900,000 | 249,200,000 | 231,800,000 | 204,500,000 | 210,400,000 | 238,000,000 | 258,300,000 | 245,200,000 | 938,400,000 | 951,900,000 | 1,008,800,000 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research and development | ' | ' | ' | ' | ' | ' | ' | ' | 334,200,000 | 367,500,000 | 362,500,000 |
Selling and marketing | ' | ' | ' | ' | ' | ' | ' | ' | 171,200,000 | 180,900,000 | 195,100,000 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 148,500,000 | 160,600,000 | 192,400,000 |
Amortization of acquisition-related intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 33,100,000 | 44,400,000 | 42,700,000 |
Restructuring, asset impairments and other, net | ' | ' | ' | ' | ' | ' | ' | ' | 33,200,000 | 165,300,000 | 102,700,000 |
Goodwill and intangible asset impairment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 49,500,000 | 0 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 720,200,000 | 968,200,000 | 895,400,000 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 218,200,000 | -16,300,000 | 113,400,000 |
Other income (expenses), net: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -38,600,000 | -56,100,000 | -68,900,000 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | 1,500,000 | 1,100,000 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 3,100,000 | 5,800,000 | -8,900,000 |
Loss on debt repurchase or exchange | ' | ' | ' | ' | ' | ' | ' | ' | -3,100,000 | -7,800,000 | -23,200,000 |
Gain on System Solutions Semiconductor acquisition | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 24,300,000 |
Equity in earnings | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other income (expenses), net | ' | ' | ' | ' | ' | ' | ' | ' | -37,300,000 | -56,600,000 | -75,600,000 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 180,900,000 | -72,900,000 | 37,800,000 |
Income tax provision | ' | ' | ' | ' | ' | ' | ' | ' | -26,900,000 | -13,400,000 | -22,900,000 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 154,000,000 | -86,300,000 | 14,900,000 |
Net income attributable to non-controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | -3,200,000 | -4,300,000 | -3,300,000 |
Net income (loss) attributable to ON Semiconductor Corporation | 28,700,000 | 51,800,000 | 47,700,000 | 22,600,000 | -138,200,000 | 12,500,000 | 6,900,000 | 28,200,000 | 150,800,000 | -90,600,000 | 11,600,000 |
Comprehensive income attributed to ON Semiconductor Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 144,500,000 | -85,000,000 | 24,000,000 |
Issuer [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research and development | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Selling and marketing | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Amortization of acquisition-related intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Restructuring, asset impairments and other, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Goodwill and intangible asset impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other income (expenses), net: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -23,000,000 | -38,000,000 | -50,800,000 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Loss on debt repurchase or exchange | ' | ' | ' | ' | ' | ' | ' | ' | -3,100,000 | -7,800,000 | -23,200,000 |
Gain on System Solutions Semiconductor acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -100,000 |
Equity in earnings | ' | ' | ' | ' | ' | ' | ' | ' | 176,900,000 | -44,800,000 | 85,700,000 |
Other income (expenses), net | ' | ' | ' | ' | ' | ' | ' | ' | 150,800,000 | -90,600,000 | 11,600,000 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 150,800,000 | -90,600,000 | 11,600,000 |
Income tax provision | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 150,800,000 | -90,600,000 | 11,600,000 |
Net income attributable to non-controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) attributable to ON Semiconductor Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 150,800,000 | -90,600,000 | 11,600,000 |
Comprehensive income attributed to ON Semiconductor Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 144,500,000 | -85,000,000 | 24,000,000 |
SCI LLC [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 684,200,000 | 732,200,000 | 788,900,000 |
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | 516,400,000 | 468,100,000 | 531,500,000 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 167,800,000 | 264,100,000 | 257,400,000 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research and development | ' | ' | ' | ' | ' | ' | ' | ' | 77,200,000 | 180,300,000 | 167,600,000 |
Selling and marketing | ' | ' | ' | ' | ' | ' | ' | ' | 71,400,000 | 68,200,000 | 70,400,000 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 32,600,000 | 5,000,000 | 84,000,000 |
Amortization of acquisition-related intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 15,200,000 | 18,100,000 | 18,000,000 |
Restructuring, asset impairments and other, net | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | 3,300,000 | 3,400,000 |
Goodwill and intangible asset impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,100,000 | ' |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 197,600,000 | 295,000,000 | 343,400,000 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -29,800,000 | -30,900,000 | -86,000,000 |
Other income (expenses), net: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -10,500,000 | -9,000,000 | -8,500,000 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | 800,000 | 400,000 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | -11,500,000 | 11,700,000 | -3,100,000 |
Loss on debt repurchase or exchange | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Gain on System Solutions Semiconductor acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24,400,000 |
Equity in earnings | ' | ' | ' | ' | ' | ' | ' | ' | 232,600,000 | -25,600,000 | 151,600,000 |
Other income (expenses), net | ' | ' | ' | ' | ' | ' | ' | ' | 211,000,000 | -22,100,000 | 164,800,000 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 181,200,000 | -53,000,000 | 78,800,000 |
Income tax provision | ' | ' | ' | ' | ' | ' | ' | ' | -11,400,000 | -1,800,000 | 1,500,000 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 169,800,000 | -54,800,000 | 80,300,000 |
Net income attributable to non-controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) attributable to ON Semiconductor Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 169,800,000 | -54,800,000 | 80,300,000 |
Comprehensive income attributed to ON Semiconductor Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 161,400,000 | -49,200,000 | 92,600,000 |
Other Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 13,800,000 | 12,900,000 | 13,900,000 |
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | 600,000 | 800,000 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 13,200,000 | 12,300,000 | 13,100,000 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research and development | ' | ' | ' | ' | ' | ' | ' | ' | 10,900,000 | 10,300,000 | 10,700,000 |
Selling and marketing | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | 800,000 | 1,000,000 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 800,000 | 600,000 | 700,000 |
Amortization of acquisition-related intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Restructuring, asset impairments and other, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 100,000 | 0 |
Goodwill and intangible asset impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 12,400,000 | 11,800,000 | 12,400,000 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 800,000 | 500,000 | 700,000 |
Other income (expenses), net: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Loss on debt repurchase or exchange | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Gain on System Solutions Semiconductor acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Equity in earnings | ' | ' | ' | ' | ' | ' | ' | ' | 7,400,000 | 10,000,000 | 7,700,000 |
Other income (expenses), net | ' | ' | ' | ' | ' | ' | ' | ' | 7,400,000 | 10,000,000 | 7,700,000 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 8,200,000 | 10,500,000 | 8,400,000 |
Income tax provision | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 8,200,000 | 10,500,000 | 8,400,000 |
Net income attributable to non-controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) attributable to ON Semiconductor Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 8,200,000 | 10,500,000 | 8,400,000 |
Comprehensive income attributed to ON Semiconductor Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 8,200,000 | 10,500,000 | 8,400,000 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 4,142,300,000 | 3,760,900,000 | 3,985,700,000 |
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | 3,419,100,000 | 3,052,300,000 | 3,236,400,000 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 723,200,000 | 708,600,000 | 749,300,000 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research and development | ' | ' | ' | ' | ' | ' | ' | ' | 246,100,000 | 176,900,000 | 184,200,000 |
Selling and marketing | ' | ' | ' | ' | ' | ' | ' | ' | 99,100,000 | 111,900,000 | 123,700,000 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 115,100,000 | 155,000,000 | 107,700,000 |
Amortization of acquisition-related intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 22,100,000 | 30,500,000 | 28,800,000 |
Restructuring, asset impairments and other, net | ' | ' | ' | ' | ' | ' | ' | ' | 32,000,000 | 161,900,000 | 99,300,000 |
Goodwill and intangible asset impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,400,000 | ' |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 514,400,000 | 665,600,000 | 543,700,000 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 208,800,000 | 43,000,000 | 205,600,000 |
Other income (expenses), net: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -5,100,000 | -9,100,000 | -9,600,000 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | 700,000 | 700,000 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 14,600,000 | -5,900,000 | -5,800,000 |
Loss on debt repurchase or exchange | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Gain on System Solutions Semiconductor acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Equity in earnings | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other income (expenses), net | ' | ' | ' | ' | ' | ' | ' | ' | 10,400,000 | -14,300,000 | -14,700,000 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 219,200,000 | 28,700,000 | 190,900,000 |
Income tax provision | ' | ' | ' | ' | ' | ' | ' | ' | -15,500,000 | -11,600,000 | -24,400,000 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 203,700,000 | 17,100,000 | 166,500,000 |
Net income attributable to non-controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) attributable to ON Semiconductor Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 203,700,000 | 17,100,000 | 166,500,000 |
Comprehensive income attributed to ON Semiconductor Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 200,100,000 | 21,400,000 | 178,900,000 |
Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | -2,057,600,000 | -1,611,100,000 | -1,346,200,000 |
Cost of revenues | ' | ' | ' | ' | ' | ' | ' | ' | -2,091,800,000 | -1,578,000,000 | -1,335,200,000 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 34,200,000 | -33,100,000 | -11,000,000 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research and development | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Selling and marketing | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Amortization of acquisition-related intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | -4,200,000 | -4,200,000 | -4,100,000 |
Restructuring, asset impairments and other, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Goodwill and intangible asset impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | -4,200,000 | -4,200,000 | -4,100,000 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 38,400,000 | -28,900,000 | -6,900,000 |
Other income (expenses), net: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Loss on debt repurchase or exchange | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Gain on System Solutions Semiconductor acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Equity in earnings | ' | ' | ' | ' | ' | ' | ' | ' | -416,900,000 | 60,400,000 | -245,000,000 |
Other income (expenses), net | ' | ' | ' | ' | ' | ' | ' | ' | -416,900,000 | 60,400,000 | -245,000,000 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -378,500,000 | 31,500,000 | -251,900,000 |
Income tax provision | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -378,500,000 | 31,500,000 | -251,900,000 |
Net income attributable to non-controlling interest | ' | ' | ' | ' | ' | ' | ' | ' | -3,200,000 | -4,300,000 | -3,300,000 |
Net income (loss) attributable to ON Semiconductor Corporation | ' | ' | ' | ' | ' | ' | ' | ' | -381,700,000 | 27,200,000 | -255,200,000 |
Comprehensive income attributed to ON Semiconductor Corporation | ' | ' | ' | ' | ' | ' | ' | ' | ($369,700,000) | $17,300,000 | ($279,900,000) |
Guarantor_And_NonGuarantor_Sta4
Guarantor And Non-Guarantor Statements Guarantor And Non-Guarantor Statements (Notes To Consolidated Statement Of Cash Flows) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | $327.30 | $276 | $545.50 |
Cash flows from investing activities: | ' | ' | ' |
Purchases of property, plant and equipment | -155.2 | -256.3 | -316.4 |
Proceeds from sales of property, plant and equipment | 9.7 | 6.2 | 3.3 |
Deposits made for purchases of property, plant and equipment | -1.3 | 1.4 | 0.5 |
Recovery from insurance on property, plant and equipment | 0 | 11.5 | 13.3 |
Purchase of businesses, net of cash acquired | 0 | 0 | -17.9 |
Proceeds from held-to maturity securities | 224.3 | 377.6 | 122.2 |
Purchase of held-to-maturity securities | -195.7 | -273.8 | -370.8 |
Change in restricted cash | 0 | 0 | 142.1 |
Contribution from subsidiaries | 0 | 0 | 0 |
Net cash used in investing activities | -118.2 | -133.4 | -423.7 |
Cash flows from financing activities: | ' | ' | ' |
Intercompany loans | 0 | 0 | 0 |
Intercompany loan repayments | 0 | 0 | 0 |
Payments to parent | 0 | 0 | 0 |
Proceeds from issuance of common stock under the employee stock purchase plan | 8.3 | 8.3 | 8.1 |
Proceeds from exercise of stock options | 12.1 | 9.4 | 59.4 |
Payments of tax withholding for restricted shares | -4.5 | -9.6 | -19.3 |
Repurchase of common stock | -101 | -55.5 | 0 |
Proceeds from debt issuance | 173.7 | 23.6 | 69 |
Payment of capital leases obligations | -41.7 | -40.8 | -39 |
Repayment of long-term debt | -217.7 | -232.5 | -159.5 |
Payments made in connection with repurchase or exchange of convertible notes | -3.2 | -2.6 | -15.9 |
Net cash used in financing activities | -174 | -299.7 | -97.2 |
Effect of exchange rate changes on cash and cash equivalents | -12.5 | -8.9 | 5 |
Net increase (decrease) in cash and cash equivalents | 22.6 | -166 | 29.6 |
Cash and cash equivalents, beginning of period | 486.9 | 652.9 | 623.3 |
Cash and cash equivalents, end of period | 509.5 | 486.9 | 652.9 |
Issuer [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 0 | 0 | 0 |
Cash flows from investing activities: | ' | ' | ' |
Purchases of property, plant and equipment | 0 | 0 | 0 |
Proceeds from sales of property, plant and equipment | 0 | 0 | 0 |
Deposits made for purchases of property, plant and equipment | 0 | 0 | 0 |
Recovery from insurance on property, plant and equipment | ' | 0 | 0 |
Purchase of businesses, net of cash acquired | ' | ' | 0 |
Proceeds from held-to maturity securities | 0 | 0 | 0 |
Purchase of held-to-maturity securities | 0 | 0 | 0 |
Change in restricted cash | ' | ' | 0 |
Contribution from subsidiaries | 235.2 | 167.8 | 23.9 |
Net cash used in investing activities | 235.2 | 167.8 | 23.9 |
Cash flows from financing activities: | ' | ' | ' |
Intercompany loans | 0 | 0 | 0 |
Intercompany loan repayments | 0 | 0 | 0 |
Payments to parent | 0 | 0 | 0 |
Proceeds from issuance of common stock under the employee stock purchase plan | 8.3 | 8.3 | 8.1 |
Proceeds from exercise of stock options | 12.1 | 9.4 | 59.4 |
Payments of tax withholding for restricted shares | -4.5 | -9.6 | -19.3 |
Repurchase of common stock | -101 | -55.5 | ' |
Proceeds from debt issuance | 0 | 0 | 0 |
Payment of capital leases obligations | 0 | 0 | 0 |
Repayment of long-term debt | -150.1 | -117.8 | -56.2 |
Payments made in connection with repurchase or exchange of convertible notes | 0 | -2.6 | -15.9 |
Net cash used in financing activities | -235.2 | -167.8 | -23.9 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
Net increase (decrease) in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents, beginning of period | 0 | 0 | 0 |
Cash and cash equivalents, end of period | 0 | 0 | 0 |
SCI LLC [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 63.9 | 45.5 | 0.4 |
Cash flows from investing activities: | ' | ' | ' |
Purchases of property, plant and equipment | -32.4 | -55 | -69 |
Proceeds from sales of property, plant and equipment | 0.1 | 0.1 | 0.1 |
Deposits made for purchases of property, plant and equipment | 0 | 0 | 0 |
Recovery from insurance on property, plant and equipment | ' | 0 | 0 |
Purchase of businesses, net of cash acquired | ' | ' | 24.3 |
Proceeds from held-to maturity securities | 224.3 | 377.6 | 122.2 |
Purchase of held-to-maturity securities | -195.7 | -273.8 | -370.8 |
Change in restricted cash | ' | ' | 142.1 |
Contribution from subsidiaries | 0 | -7.9 | 234.5 |
Net cash used in investing activities | -3.7 | 41 | 83.4 |
Cash flows from financing activities: | ' | ' | ' |
Intercompany loans | -812 | -524 | -289.3 |
Intercompany loan repayments | 981.7 | 562 | 182.2 |
Payments to parent | -246.5 | -180.9 | -37.7 |
Proceeds from issuance of common stock under the employee stock purchase plan | 0 | 0 | 0 |
Proceeds from exercise of stock options | 0 | 0 | 0 |
Payments of tax withholding for restricted shares | 0 | 0 | 0 |
Repurchase of common stock | 0 | 0 | ' |
Proceeds from debt issuance | 120 | 6.5 | 12.2 |
Payment of capital leases obligations | -38.2 | -37.4 | -36.4 |
Repayment of long-term debt | -6.2 | -5.1 | -2.6 |
Payments made in connection with repurchase or exchange of convertible notes | -3.2 | 0 | 0 |
Net cash used in financing activities | -4.4 | -178.9 | -171.6 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
Net increase (decrease) in cash and cash equivalents | 55.8 | -92.4 | -87.8 |
Cash and cash equivalents, beginning of period | 212.1 | 304.5 | 392.3 |
Cash and cash equivalents, end of period | 267.9 | 212.1 | 304.5 |
Other Subsidiaries [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 0.2 | 0.9 | 0 |
Cash flows from investing activities: | ' | ' | ' |
Purchases of property, plant and equipment | -0.2 | -0.7 | -0.2 |
Proceeds from sales of property, plant and equipment | 0 | 0 | 0 |
Deposits made for purchases of property, plant and equipment | 0 | 0 | 0 |
Recovery from insurance on property, plant and equipment | ' | 0 | 0 |
Purchase of businesses, net of cash acquired | ' | ' | 0 |
Proceeds from held-to maturity securities | 0 | 0 | 0 |
Purchase of held-to-maturity securities | 0 | 0 | 0 |
Change in restricted cash | ' | ' | 0 |
Contribution from subsidiaries | 0 | 0 | 0 |
Net cash used in investing activities | -0.2 | -0.7 | -0.2 |
Cash flows from financing activities: | ' | ' | ' |
Intercompany loans | 0 | 0 | 0 |
Intercompany loan repayments | 0 | 0 | 0 |
Payments to parent | 0 | 0 | 0 |
Proceeds from issuance of common stock under the employee stock purchase plan | 0 | 0 | 0 |
Proceeds from exercise of stock options | 0 | 0 | 0 |
Payments of tax withholding for restricted shares | 0 | 0 | 0 |
Repurchase of common stock | 0 | 0 | ' |
Proceeds from debt issuance | 0 | 0 | 0 |
Payment of capital leases obligations | 0 | 0 | 0 |
Repayment of long-term debt | 0 | 0 | 0 |
Payments made in connection with repurchase or exchange of convertible notes | 0 | 0 | 0 |
Net cash used in financing activities | 0 | 0 | 0 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
Net increase (decrease) in cash and cash equivalents | 0 | 0.2 | -0.2 |
Cash and cash equivalents, beginning of period | 0 | -0.2 | 0 |
Cash and cash equivalents, end of period | 0 | 0 | -0.2 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | 274.5 | 242.7 | 558.9 |
Cash flows from investing activities: | ' | ' | ' |
Purchases of property, plant and equipment | -122.6 | -200.6 | -247.2 |
Proceeds from sales of property, plant and equipment | 9.6 | 6.1 | 3.2 |
Deposits made for purchases of property, plant and equipment | -1.3 | 1.4 | 0.5 |
Recovery from insurance on property, plant and equipment | ' | 11.5 | 13.3 |
Purchase of businesses, net of cash acquired | ' | ' | -42.2 |
Proceeds from held-to maturity securities | 0 | 0 | 0 |
Purchase of held-to-maturity securities | 0 | 0 | 0 |
Change in restricted cash | ' | ' | 0 |
Contribution from subsidiaries | 0 | 0 | 0 |
Net cash used in investing activities | -114.3 | -181.6 | -272.4 |
Cash flows from financing activities: | ' | ' | ' |
Intercompany loans | 812 | 524 | 289.3 |
Intercompany loan repayments | -981.7 | -562 | -182.2 |
Payments to parent | 0 | 7.9 | -234.5 |
Proceeds from issuance of common stock under the employee stock purchase plan | 0 | 0 | 0 |
Proceeds from exercise of stock options | 0 | 0 | 0 |
Payments of tax withholding for restricted shares | 0 | 0 | 0 |
Repurchase of common stock | 0 | 0 | ' |
Proceeds from debt issuance | 53.7 | 17.1 | 56.8 |
Payment of capital leases obligations | -3.5 | -3.4 | -2.6 |
Repayment of long-term debt | -61.4 | -109.6 | -100.7 |
Payments made in connection with repurchase or exchange of convertible notes | 0 | 0 | 0 |
Net cash used in financing activities | -180.9 | -126 | -173.9 |
Effect of exchange rate changes on cash and cash equivalents | -12.5 | -8.9 | 5 |
Net increase (decrease) in cash and cash equivalents | -33.2 | -73.8 | 117.6 |
Cash and cash equivalents, beginning of period | 274.8 | 348.6 | 231 |
Cash and cash equivalents, end of period | 241.6 | 274.8 | 348.6 |
Eliminations [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash provided by operating activities | -11.3 | -13.1 | -13.8 |
Cash flows from investing activities: | ' | ' | ' |
Purchases of property, plant and equipment | 0 | 0 | 0 |
Proceeds from sales of property, plant and equipment | 0 | 0 | 0 |
Deposits made for purchases of property, plant and equipment | 0 | 0 | 0 |
Recovery from insurance on property, plant and equipment | ' | 0 | 0 |
Purchase of businesses, net of cash acquired | ' | ' | 0 |
Proceeds from held-to maturity securities | 0 | 0 | 0 |
Purchase of held-to-maturity securities | 0 | 0 | 0 |
Change in restricted cash | ' | ' | 0 |
Contribution from subsidiaries | -235.2 | -159.9 | -258.4 |
Net cash used in investing activities | -235.2 | -159.9 | -258.4 |
Cash flows from financing activities: | ' | ' | ' |
Intercompany loans | 0 | 0 | 0 |
Intercompany loan repayments | 0 | 0 | 0 |
Payments to parent | 246.5 | 173 | 272.2 |
Proceeds from issuance of common stock under the employee stock purchase plan | 0 | 0 | 0 |
Proceeds from exercise of stock options | 0 | 0 | 0 |
Payments of tax withholding for restricted shares | 0 | 0 | 0 |
Repurchase of common stock | 0 | 0 | ' |
Proceeds from debt issuance | 0 | 0 | 0 |
Payment of capital leases obligations | 0 | 0 | 0 |
Repayment of long-term debt | 0 | 0 | 0 |
Payments made in connection with repurchase or exchange of convertible notes | 0 | 0 | 0 |
Net cash used in financing activities | 246.5 | 173 | 272.2 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
Net increase (decrease) in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents, beginning of period | 0 | 0 | 0 |
Cash and cash equivalents, end of period | $0 | $0 | $0 |
Recovered_Sheet2
Valuation and Qualifying Accounts and Reserves (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Allowance for Doubtful Accounts [Member] | ' | ' | ' | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | $2.70 | $7.10 | $7.30 | |||
Charged to Costs and Expenses | 0 | -1.9 | -0.2 | |||
Charged to Other Accounts | 0 | 0 | 0 | |||
Deductions/Write-offs | -1.7 | -2.5 | 0 | |||
Balance at End of Period | 1 | 2.7 | 7.1 | |||
Valuation Allowance of Deferred Tax Assets [Member] | ' | ' | ' | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | 1,420.10 | 1,626.10 | 560.8 | |||
Charged to Costs and Expenses | 74.9 | -4 | 170.1 | |||
Charged to Other Accounts | -161.8 | [1] | -92.2 | [1] | 895.2 | [2] |
Deductions/Write-offs | -6 | -109.8 | [3] | 0 | ||
Balance at End of Period | 1,327.20 | 1,420.10 | 1,626.10 | |||
Acquisition of SANYO Semiconductor Co., LTD | ' | ' | ' | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Charge to goodwill for deferred taxes acquired | ' | $895.20 | ' | |||
[1] | Represents the effects of cumulative translation adjustments. | |||||
[2] | Represents a charge of $895.2 million to goodwill for deferred tax assets acquired from SANYO Semiconductor on January 1, 2011. | |||||
[3] | Represents decreases to deferred tax assets, which have a full valuation allowance arising from the SANYO Semiconductor Transaction. Additional information related to these deferred tax assets became available in 2012. |