ON Semiconductor (ON) 10-Q 8 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 01, 2016	Aug. 03, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	ON Semiconductor Corporation
Entity Central Index Key	1,097,864
Current Fiscal Year End	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jul. 1, 2016
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,016
Amendment Flag	false
Entity Common Stock, Shares Outstanding		415,551,075

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Jul. 01, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 588.1	$ 617.6
Receivables, net	487.4	426.4
Inventories	750.2	750.4
Other current assets	96.1	97.1
Total current assets	1,921.8	1,891.5
Restricted cash	2,235.8	0
Property, plant and equipment, net	1,277.2	1,274.1
Goodwill	270.6	270.6
Intangible assets, net	276.8	325.8
Other assets	115.6	107.6
Total assets	6,097.8	3,869.6
Liabilities, Non-Controlling Interest and Stockholders’ Equity
Accounts payable	302.5	337.7
Accrued expenses	302.6	246.2
Deferred income on sales to distributors	118.7	112
Current portion of long-term debt	536.7	543.4
Total current liabilities	1,260.5	1,239.3
Long-term debt	2,935.1	850.5
Other long-term liabilities	176.5	147.9
Total liabilities	4,372.1	2,237.7
Commitments and contingencies
ON Semiconductor Corporation stockholders’ equity:
Common stock ($0.01 par value, 750,000,000 shares authorized, 538,508,011 and 534,134,721 shares issued, 415,510,288 and 412,039,805 shares outstanding, respectively)	5.4	5.3
Additional paid-in capital	3,457.1	3,420.3
Accumulated other comprehensive loss	(39.4)	(42.3)
Accumulated deficit	(648.3)	(709.4)
Less: Treasury stock, at cost: 122,997,723 and 122,094,916 shares, respectively	(1,073.9)	(1,065.7)
Total ON Semiconductor Corporation stockholders’ equity	1,700.9	1,608.2
Non-Controlling interest in consolidated subsidiary	24.8	23.7
Total stockholders' equity	1,725.7	1,631.9
Total liabilities and stockholders' equity	$ 6,097.8	$ 3,869.6

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jul. 01, 2016	Dec. 31, 2015
Stockholders' Equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	538,508,011	534,134,721
Common stock, shares outstanding (in shares)	415,510,288	412,039,805
Treasury stock, shares (in shares)	122,997,723	122,094,916

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2016	Jul. 03, 2015	Jul. 01, 2016	Jul. 03, 2015
Income Statement [Abstract]
Revenues	$ 877.8	$ 880.5	$ 1,695	$ 1,751.3
Cost of revenues (exclusive of amortization shown below)	569.9	576.1	1,111.6	1,146.5
Gross profit	307.9	304.4	583.4	604.8
Operating expenses:
Research and development	103	100.4	201	200.8
Selling and marketing	52.7	50.4	101.9	103.7
General and administrative	46	45	90.5	91.7
Amortization of acquisition-related intangible assets	23.5	33.6	47.2	67.5
Restructuring, asset impairments and other, net	5.2	3.5	6.9	1.2
Intangible asset impairment	2.2	3.7	2.2	3.7
Total operating expenses	232.6	236.6	449.7	468.6
Operating income	75.3	67.8	133.7	136.2
Other (expense) income, net:
Interest expense	(42.1)	(10.7)	(57.7)	(19.9)
Interest income	2.1	0.3	2.4	0.6
Other	(1.9)	2.1	(3.3)	5.8
Loss on debt extinguishment	0	(0.4)	0	(0.4)
Other (expense) income, net	(41.9)	(8.7)	(58.6)	(13.9)
Income before income taxes	33.4	59.1	75.1	122.3
Income tax provision	(7.6)	(7.7)	(12.9)	(15.1)
Net income	25.8	51.4	62.2	107.2
Less: Net income attributable to Non-Controlling Interest	(0.7)	(0.7)	(1.1)	(1.4)
Net income attributable to ON Semiconductor Corporation	25.1	50.7	61.1	105.8
Comprehensive income (loss), net of tax:
Net income	25.8	51.4	62.2	107.2
Foreign currency translation adjustments	1.9	0	2.8	0
Effects of cash flow hedges	0	1.5	0.1	1.3
Effects of available-for-sale securities	0	0.7	0	(3.4)
Other comprehensive (loss) income, net of tax of $0.0 million	1.9	2.2	2.9	(2.1)
Comprehensive income	27.7	53.6	65.1	105.1
Comprehensive income attributable to non-controlling interest	(0.7)	(0.7)	(1.1)	(1.4)
Comprehensive income attributable to ON Semiconductor Corporation	$ 27	$ 52.9	$ 64	$ 103.7
Net income per common share attributable to ON Semiconductor Corporation:
Basic (in dollars per share)	$ 0.06	$ 0.12	$ 0.15	$ 0.25
Diluted (in dollars per share)	$ 0.06	$ 0.12	$ 0.15	$ 0.24
Weighted-average common shares outstanding:
Basic (in shares)	414.9	426.9	413.7	429.2
Diluted (in shares)	417.6	436.3	416.5	438.2

Consolidated Statements of Ope5

Consolidated Statements of Operations and Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2016	Jul. 03, 2015	Jul. 01, 2016	Jul. 03, 2015
Income Statement [Abstract]
Other comprehensive (loss) income, tax	$ 0	$ 0	$ 0	$ 0

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jul. 01, 2016	Jul. 03, 2015
Cash flows from operating activities:
Net income	$ 62.2	$ 107.2
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	160.3	178.6
(Gain) loss on sale or disposal of fixed assets	0.2	(4.5)
Non-cash interest on convertible notes	0.9	0
Loss on debt extinguishment	0	0.4
Amortization of debt issuance costs	3.1	0.9
Write-down of excess inventories	35.7	28.2
Non-cash share-based compensation expense	27.7	25.4
Non-cash interest on convertible notes	13	4.8
Non-cash asset impairment charges	0	0.2
Intangible asset impairment	2.2	3.7
Change in deferred taxes	3.2	(0.4)
Other	(3.4)	(5.1)
Changes in assets and liabilities (exclusive of the impact of acquisitions):
Receivables	(50.2)	(73.1)
Inventories	(34.7)	(41.3)
Other assets	(10.9)	7.1
Accounts payable	5.2	(22.6)
Accrued expenses	(4)	(14.1)
Deferred income on sales to distributors	6.7	(10)
Other long-term liabilities	1.9	(0.3)
Net cash provided by operating activities	219.1	185.1
Cash flows from investing activities:
Purchases of property, plant and equipment	(124.9)	(140.3)
Proceeds from sales of property, plant and equipment	0.4	10.3
Deposits utilized for purchases of property, plant and equipment	2.2	0
Purchase of businesses, net of cash acquired	0	(2.9)
Cash placed in escrow	(67.7)	0
Proceeds from sale of available-for-sale securities	0	4.9
Proceeds from sale of held-to-maturity securities	0	2
Purchases of held-to-maturity securities	0	(0.7)
Other	1	0
Net cash used in investing activities	(189)	(126.7)
Cash flows from financing activities:
Proceeds from issuance of common stock under the employee stock purchase plan	7	7
Proceeds from exercise of stock options	2.2	23.7
Payments of tax withholding for restricted shares	(8.2)	(11.4)
Repurchase of common stock	0	(225.1)
Proceeds from debt issuance	9.5	755.9
Purchases of convertible note hedges	0	(108.9)
Proceeds from issuance of warrants	0	52
Payments of debt issuance and other financing costs	(3.1)	(19.5)
Repayment of long-term debt	(64)	(453.1)
Payment of capital lease obligations	(9.4)	(13.1)
Net cash provided by (used in) financing activities	(66)	7.5
Effect of exchange rate changes on cash and cash equivalents	6.4	(1)
Net increase (decrease) in cash and cash equivalents	(29.5)	64.9
Cash and cash equivalents, beginning of period	617.6	511.7
Cash and cash equivalents, end of period	$ 588.1	$ 576.6

Background and Basis of Present

Background and Basis of Presentation	6 Months Ended
	Jul. 01, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background and Basis of Presentation	Note 1: Background and Basis of Presentation ON Semiconductor Corporation, together with its wholly-owned and majority-owned subsidiaries ("ON Semiconductor" or the "Company"), uses a thirteen-week fiscal quarter accounting period for the first three fiscal quarters of each year, with the second quarter of 2016 ending on July 1, 2016 , and each fiscal year ending on December 31. The three months ended July 1, 2016 and July 3, 2015 both contained 91 days. The six months ended July 1, 2016 and July 3, 2015 contained 183 and 184 days, respectively. As of July 1, 2016 , the Company was organized into four operating segments, which also represent its four reporting segments: Application Products Group, Image Sensor Group, Standard Products Group, and System Solutions Group. Additional details on the Company's reportable segments are included in Note 15: “Segment Information.” The accompanying unaudited financial statements as of and for the quarter and six months ended July 1, 2016 have been prepared in accordance with generally accepted accounting principles in the United States of America for unaudited interim financial information. Accordingly, the unaudited financial statements do not include all of the information and footnotes required by generally accepted accounting principles in the United States of America for audited financial statements. The balance sheet as of December 31, 2015 was derived from the Company's audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America for audited financial statements. In the opinion of the Company's management, the interim information includes all adjustments, which consist of normal recurring adjustments, necessary for a fair statement of the results for the interim periods. The footnote disclosures related to the interim financial information included herein are also unaudited. Such financial information should be read in conjunction with the consolidated financial statements and related notes thereto for the year ended December 31, 2015 included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2015 , filed with the SEC on February 24, 2016 (“ 2015 Form 10-K”). Financial results for interim periods are not necessarily indicative of the results of operations that may be expected for a full fiscal year. Pending Acquisition of Fairchild On November 18, 2015, the Company entered into an Agreement and Plan of Merger (the "Fairchild Agreement") with each of Fairchild Semiconductor International, Inc., a Delaware corporation (“Fairchild”), and Falcon Operations Sub, Inc., a Delaware corporation and the Company's wholly-owned subsidiary ("Merger Sub"), which provides for the acquisition of Fairchild by the Company (the “Fairchild Transaction”). See Note 3: ''Acquisitions,'' Note 16: ''Recent Developments and Subsequent Events,'' and Note 7: ''Long-Term Debt'' for additional information. 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 and allowances, warranties, and restructuring activities; (iii) assumptions surrounding future pension obligations; (iv) fair values of share-based compensation and of financial instruments (including derivative financial instruments); (v) evaluations of uncertain tax positions; (vi) estimates and assumptions used in connection with business combinations; and (vii) future cash flows used to assess and test for impairment of goodwill and long-lived assets, if applicable. Actual results could differ from these estimates.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jul. 01, 2016
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Note 2: Recent Accounting Pronouncements ASUs Pending Adoption: ASU No. 2016-09 - "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" ("ASU 2016-09") In March 2016, the FASB issued ASU 2016-09, which is intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact, classification on the statement of cash flows and forfeitures. The amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of ASU 2016-09 may have on its consolidated financial statements and has not elected early adoption as of the quarter ended July 1, 2016 . ASU No. 2016-02 - "Leases (Topic 842)" ("ASU 2016-02") In February 2016, the FASB issued ASU 2016-02, which amends the accounting treatment for leases. The amendments are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Lessees ( for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of ASU 2016-02 may have on its consolidated financial statements and has not elected early adoption as of the quarter ended July 1, 2016 . ASU No. 2016-01 - “Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU 2016-01”) In January 2016, the FASB issued ASU No. 2016-01, which addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. ASU 2016-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, and early adoption is not permitted. The Company is currently evaluating the impact that the standard will have on our consolidated financial statements. ASU No. 2015-11 - "Inventory (Topic 330): Simplifying the Measurement of Inventory" ("ASU 2015-11") In July 2015, the FASB issued ASU 2015-11, which requires that an entity should measure in-scope inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted. The Company does not anticipate a material impact upon the adoption of ASU 2015-11 and the Company has not elected early adoption as of the quarter ended July 1, 2016 . ASU No. 2014-09 - “Revenue from Contracts with Customers (Topic 606)" (“ASU 2014-09”), ASU No. 2015-14 - "Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date" ("ASU 2015-14"), ASU No. 2016-08 - “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations” (“ASU 2016-08”), ASU No. 2016-10 - “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing” (“ASU 2016-10”) and ASU No. 2016-12 - “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients” (“ASU 2016-12”) In May 2014, the FASB issued ASU 2014-09, which applies to any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of non-financial assets, unless those contracts are within the scope of other standards, superceding the existing revenue recognition requirements in ASC Topic 605 “Revenue Recognition.” Pursuant to ASU 2014-09, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange, as applied through a multi-step process to achieve that core principle. Subsequently, the FASB approved a deferral included in ASU 2015-14 that permits public entities to apply the amendments in ASU 2014-09 for annual reporting periods beginning after December 15, 2017, including interim reporting periods therein, and that would also permit public entities to elect to adopt the amendments as of the original effective date as applicable to reporting periods beginning after December 15, 2016. The new guidance allows for the amendment to be applied either retrospectively to each prior reporting period presented or retrospectively as a cumulative-effect adjustment as of the date of adoption. In March 2016, the FASB issued ASU 2016-08, which clarifies the implementation guidance on principal versus agent considerations. In April 2016, the FASB issued ASU 2016-10, which clarifies identifying performance obligations and the licensing implementation guidance. In May 2016, the FASB issued ASU 2016-12, which improves certain aspects of ASC Topic 606 "Revenue from Contracts with Customers". The effective date and transition requirements for ASU 2016-08, ASU 2016-10 and ASU 2016-12 are the same as the effective date and transition requirements of ASU 2014-09. The Company defers the revenue and cost of revenues on sales to certain distributors until it is informed by the distributor that the distributor has resold the products to the end customer. For additional information with respect to the Company's critical accounting policies, see Note 2: "Significant Accounting Policies" of the notes to the Company's audited consolidated financial statements included in Part IV, Item 15 of the 2015 Form 10-K. Upon adoption of ASU 2014-09, ASU 2015-14, ASU 2016-08, ASU 2016-10 and ASU 2016-12, the Company believes one of the more significant impacts will be that it is no longer permitted to defer revenue until sale by the distributor to the end customer, but rather, will be required to estimate the effects of returns and allowances provided to distributors and record revenue at the time of sale to the distributor. The Company is evaluating early adoption of the provisions of ASU 2014-09, ASU 2015-14, ASU 2016-08, ASU 2016-10 and ASU 2016-12. In anticipation of the adoption of the new standards, the Company has been enhancing and continues to enhance its internal systems, processes and controls for making the required estimates. During the third quarter of 2016, the Company will evaluate its progress as well as Fairchild’s preparedness for the new standards to determine whether early adoption would be appropriate. ASU's Adopted: ASU No. 2015-17 - "Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes" ("ASU 2015-17") In November 2015, the FASB issued ASU 2015-17, which requires that deferred tax liabilities and assets be classified as non-current in a classified statement of financial position. ASU 2015-17 is effective in fiscal years beginning after December 15, 2016. Early adoption is permitted on either a prospective or retrospective basis. The Company previously elected early adoption as of the interim period beginning October 3, 2015, effective for the annual period ended December 31, 2015 , and has selected the prospective application. Prior periods have not been retrospectively adjusted. ASU 2015-05 - “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement” ("ASU 2015-05") In April 2015, the FASB issued ASU 2015-05, which provides guidance regarding the accounting for fees paid by a customer in cloud computing arrangements. ASU 2015-05 amended ASC 350-40-25-16 by removing the language that stated licenses for internal-use software from third parties should be analogized to the subtopic 840-10 Leases. If a cloud computing arrangement includes the transfer of a software license, then the customer would account for the payment of fees as an acquisition of software. If there is no software license, the payment of fees would be accounted for as a service contract. This ASU is effective in fiscal years beginning after December 15, 2015. An entity can elect to adopt the amendments either prospectively for all arrangements entered into or materially modified after the effective date, or retrospectively. The Company adopted ASU 2015-05 as of the quarter ended April 1, 2016 and selected the prospective application. There was no material impact to the financial statements. ASU No. 2015-03 - "Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs" ("ASU 2015-03") and ASU No. 2015-15 - "Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements" ("ASU 2015-15") In April 2015, the FASB issued ASU 2015-03, which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The new standard is effective for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. In August 2015, the FASB issued ASU 2015-15, which clarified that ASU 2015-03 does not address debt issuance costs related to line-of-credit agreements and stated that the SEC staff would not object to the deferral and presentation of debt issuance costs as an asset, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement, consistent with existing guidance. The Company previously elected early adoption of ASU 2015-03 as of the year ended December 31, 2015 , applicable to debt issuance costs related to its convertible notes, and has retrospectively adjusted certain prior year amounts to reflect the effects of applying the new guidance. Pursuant to ASU 2015-15, debt issuance costs relating to the Company's revolving credit facility have been deferred and are included in other assets on the Company's Consolidated Balance Sheet. See Note 7: ''Long-Term Debt'' for additional information with respect to the Company's debt issuance costs.

Acquisitions

Acquisitions	6 Months Ended
	Jul. 01, 2016
Business Combinations [Abstract]
Acquisitions	Note 3: Acquisitions Acquisition of Fairchild On November 18, 2015, the Company entered into the Fairchild Agreement, which provides for the acquisition of Fairchild by the Company. The total transaction value is expected to be approximately $2.4 billion . The Company has financed the estimated $2.4 billion of cash consideration with a combination of cash on hand, proceeds from the issuance of the Term Loan “B” Facility and borrowings available under the Revolving Credit Facility. See Note 7: ''Long-Term Debt'' for additional information related to the financing and Note 16: ''Recent Developments and Subsequent Events'' for additional information regarding the pending acquisition. Acquisition of AXSEM On July 15, 2015 (the "Acquisition Date"), the Company acquired 100% of AXSEM for $8.0 million in cash consideration, plus an additional unlimited contingent consideration (the "Earn-out") with a fair value of $5.0 million as of the Acquisition Date. The unlimited Earn-out payment, if any, is based on the achievement of certain revenue targets during two separate measurement periods consisting of the following: (i) the period from the first day of the Company's third fiscal quarter of 2016 to the last day of the Company's second fiscal quarter of 2017; and (ii) the period from the first day of the Company's third fiscal quarter of 2017 to the last day of the Company's second fiscal quarter of 2018. Pursuant to the terms of the Share Purchase Agreement between the Company and the sellers of AXSEM, $0.8 million of cash consideration was held in escrow and is included on the Company's Consolidated Balance Sheet as of July 1, 2016 to secure against certain indemnifiable events in connection with the acquisition of AXSEM. AXSEM is incorporated into the Company's Application Product Group for reporting purposes. The acquisition of AXSEM expands the Company's industrial and timing business and is another step forward in expanding the Company's presence in select segments of the industrial end-market. The estimated Earn-out fair value of $5.0 million , measured using Level 3 assumptions, was included in non-current liabilities on the Company's Consolidated Balance Sheet as of July 1, 2016 . See Note 11: ''Fair Value Measurements'' for additional information. The allocation of $13.0 million of acquired net assets is included in the Company's balance sheet as of the Acquisition Date, and was finalized during the fourth quarter of 2015.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jul. 01, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 4: Goodwill and Intangible Assets Goodwill The following table summarizes goodwill by relevant reportable segments as of July 1, 2016 and December 31, 2015 (in millions): Balance as of July 1, 2016 Balance as of December 31, 2015 Goodwill Accumulated Impairment Losses Carrying Value Goodwill Accumulated Impairment Losses Carrying Value Reportable Segment: Application Products Group $ 546.7 $ (418.9 ) $ 127.8 $ 546.7 $ (418.9 ) $ 127.8 Image Sensor Group 95.4 — 95.4 95.4 — 95.4 Standard Products Group 76.0 (28.6 ) 47.4 76.0 (28.6 ) 47.4 $ 718.1 $ (447.5 ) $ 270.6 $ 718.1 $ (447.5 ) $ 270.6 Goodwill is tested for impairment annually on the first day of the fourth quarter unless a triggering event would require an interim analysis. Adverse changes in operating results and/or unfavorable changes in economic factors used to estimate fair values may result in future non-cash impairment charges. While management did not identify any triggering events through July 1, 2016 that would require an interim impairment analysis, the Company's current projections include assumptions of current industry and market conditions, which could negatively change, and in turn, may adversely impact the fair value of the Company's goodwill, intangible assets and other long-lived assets. As a result, the carrying value of the reporting units containing the Company's goodwill may exceed their fair value in future impairment tests. Intangible Assets Intangible assets, net, were as follows as of July 1, 2016 and December 31, 2015 (in millions): July 1, 2016 Original Cost Accumulated Amortization Foreign Currency Translation Adjustment Accumulated Impairment Losses Carrying Value Intellectual property $ 13.9 $ (10.9 ) $ — $ (0.4 ) $ 2.6 Customer relationships 426.2 (237.9 ) (27.5 ) (23.7 ) 137.1 Patents 43.7 (24.8 ) — (13.7 ) 5.2 Developed technology 269.9 (173.8 ) — (2.6 ) 93.5 Trademarks 16.3 (10.3 ) — (1.1 ) 4.9 Backlog 0.3 (0.3 ) — — — IPRD 39.5 — — (6.0 ) 33.5 Total intangibles $ 809.8 $ (458.0 ) $ (27.5 ) $ (47.5 ) $ 276.8 December 31, 2015 Original Cost Accumulated Amortization Foreign Currency Translation Adjustment Accumulated Impairment Losses Carrying Value Intellectual property $ 13.9 $ (10.6 ) $ — $ (0.4 ) $ 2.9 Customer relationships 426.2 (214.2 ) (27.9 ) (23.7 ) 160.4 Patents 43.7 (23.6 ) — (13.7 ) 6.4 Developed technology 268.0 (152.2 ) — (2.6 ) 113.2 Trademarks 16.3 (9.9 ) — (1.1 ) 5.3 Backlog 0.3 (0.3 ) — — — IPRD 41.4 — — (3.8 ) 37.6 Total intangibles $ 809.8 $ (410.8 ) $ (27.9 ) $ (45.3 ) $ 325.8 During the quarter and six months ended July 1, 2016 , the Company completed certain of its IPRD projects, resulting in the reclassification of $0.5 million and $1.9 million to developed technology, respectively. During the quarter ended July 1, 2016, the Company canceled certain of its previously capitalized IPRD projects and recorded an impairment loss of $2.2 million . Amortization expense for acquisition-related intangible assets amounted to $ 23.5 million and $47.2 million for the quarter and six months ended July 1, 2016 , respectively, and $33.6 million and $67.5 million for the quarter and six months ended July 3, 2015 , respectively. Amortization expense for intangible assets, with the exception of the $33.5 million of IPRD assets that will be amortized once the corresponding projects have been completed, is expected to be as follows for each of the next five years and thereafter (in millions): Period Estimated Amortization Expense Remainder of 2016 $ 44.6 2017 63.1 2018 41.6 2019 34.2 2020 22.4 Thereafter 37.4 Total estimated amortization expense $ 243.3

Restructuring, Asset Impairment

Restructuring, Asset Impairments and Other, Net	6 Months Ended
	Jul. 01, 2016
Restructuring Charges [Abstract]
Restructuring, Asset Impairments and Other, Net	Note 5: Restructuring, Asset Impairments and Other, Net Summarized activity included in the “Restructuring, asset impairments and other, net” caption on the Company's Consolidated Statements of Operations and Comprehensive Income for the quarter and six months ended July 1, 2016 is as follows (in millions): Restructuring Quarter ended July 1, 2016 System Solutions Group voluntary workforce reduction $ 4.4 Manufacturing relocation 0.9 Other (1) (0.1 ) Total $ 5.2 Restructuring Six months ended July 1, 2016 System Solutions Group voluntary workforce reduction $ 5.2 Manufacturing relocation 1.2 General workforce reductions 0.3 Other (1) 0.2 Total $ 6.9 (1) Includes amounts related to certain reductions in workforce, other facility closures, asset disposal activity and certain other activity which is not considered to be significant. Changes in accrued restructuring charges from December 31, 2015 to July 1, 2016 are summarized as follows (in millions): Balance as of December 31, 2015 Charges Usage Balance as of Estimated employee separation charges $ 5.3 $ 6.7 $ (5.3 ) $ 6.7 Estimated costs to exit 0.5 0.2 (0.2 ) 0.5 Total $ 5.8 $ 6.9 $ (5.5 ) $ 7.2 Activity related to the Company’s restructuring programs that were either initiated during 2016 or had not been completed as of July 1, 2016 , is as follows: System Solutions Group Voluntary Workforce Reduction During March 2016, the Company announced a voluntary resignation program for the System Solutions Group. A total of 75 employees volunteered and signed employee separation agreements as of the end of the quarter ended July 1, 2016. The total expense of the plan is expected to be approximately $5.3 million . The expense for the quarter ended July 1, 2016 was $4.4 million and the accrued balance as of July 1, 2016 was $4.1 million . A majority of the employees have exited as of July 1, 2016 , with the remaining employees expected to exit by the end of the year. During the quarter ended July 1, 2016 , $1.1 million was paid out to employees. Manufacturing Relocation During March 2016, the Company announced a plan to relocate certain of its manufacturing operations to another existing location. The transition will occur through 2017. Approximately 160 employees will be impacted by the relocation. The total expense consisting of retention and severance is expected to be approximately $5.7 million . The expense for the quarter ended July 1, 2016 was $0.9 million , and the accrued balance as of July 1, 2016 was $1.2 million . A majority of the employees are expected to exit during the second half of 2017. General Workforce Reductions During the third quarter of 2015, management approved and commenced implementation of restructuring actions, primarily targeted workforce reductions. The Company had previously notified 150 employees of their employment termination, all of which have exited as of July 1, 2016 . The total expense of this program incurred is $5.1 million , with no additional expenses incurred during the quarter ended July 1, 2016 . The Company paid $0.3 million during the quarter ended July 1, 2016 , and there is no remaining unpaid balance due to the completion of the program. European Marketing Organization Relocation In January 2015, the Company announced that it would relocate its European customer marketing organization from France to Slovakia and Germany. As a result, six positions were eliminated. There were no charges incurred during the quarter ended July 1, 2016 . The total expense of this program incurred to date is $3.5 million , with no additional expenses expected. During the quarter ended July 1, 2016 , $0.9 million was paid out to the employees. The remaining employees are expected to exit during the second half of 2016. As of July 1, 2016 , there was a $0.5 million accrued liability associated with employee separation charges for the European customer marketing organization move.

Balance Sheet Information

Balance Sheet Information	6 Months Ended
	Jul. 01, 2016
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Information	Note 6: Balance Sheet Information Certain amounts included in the Company's balance sheet as of July 1, 2016 and December 31, 2015 consist of the following (dollars in millions): July 1, 2016 December 31, 2015 Receivables, net: Accounts receivable $ 491.4 $ 432.6 Less: Allowance for doubtful accounts (4.0 ) (6.2 ) $ 487.4 $ 426.4 Inventories: Raw materials $ 80.4 $ 79.3 Work in process 460.3 457.8 Finished goods 209.5 213.3 $ 750.2 $ 750.4 Property, plant and equipment, net: Land $ 48.2 $ 46.2 Buildings 526.2 513.6 Machinery and equipment 2,417.5 2,327.5 Total property, plant and equipment 2,991.9 2,887.3 Less: Accumulated depreciation (1,714.7 ) (1,613.2 ) $ 1,277.2 $ 1,274.1 Accrued expenses: Accrued payroll $ 93.8 $ 95.1 Sales related reserves 69.7 69.9 Acquisition consideration payable to seller 19.6 19.6 Other 119.5 61.6 $ 302.6 $ 246.2 Warranty Reserves Activity related to the Company's warranty reserves for the six months ended July 1, 2016 and July 3, 2015 is as follows (in millions): Six Months Ended July 1, 2016 July 3, 2015 Beginning Balance $ 5.3 $ 5.5 Provision 1.9 0.3 Usage (1.7 ) (0.6 ) Ending Balance $ 5.5 $ 5.2 Defined Benefit Plans The Company maintains defined benefit plans for certain of its foreign subsidiaries. The Company recognizes the aggregate amount of all overfunded plans as assets and the aggregate amount of all underfunded plans as liabilities in its financial statements. As of July 1, 2016 , the total accrued pension liability for underfunded plans was $ 98.2 million , of which the current portion of $ 0.1 million was classified as accrued expenses. As of December 31, 2015 , the total accrued pension liability for underfunded plans was $ 87.2 million , of which the current portion of $ 0.1 million was classified as accrued expenses. The components of the Company's net periodic pension expense for the quarters and six months ended July 1, 2016 and July 3, 2015 are as follows (in millions): Quarter Ended Six Months Ended July 1, 2016 July 3, 2015 July 1, 2016 July 3, 2015 Service cost $ 2.3 $ 2.2 $ 4.5 $ 4.4 Interest cost 1.1 1.0 2.2 2.0 Expected return on plan assets (1.0 ) (0.9 ) (2.0 ) (1.8 ) Total net periodic pension cost $ 2.4 $ 2.3 $ 4.7 $ 4.6

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jul. 01, 2016
Debt Disclosure [Abstract]
Long-Term Debt	Note 7: Long-Term Debt The Company's long-term debt consists of the following (annualized rates, dollars in millions): July 1, 2016 December 31, 2015 Senior Revolving Credit Facility due 2020 $ — $ — Term Loan "B" Facility due 2023, interest payable monthly at 5.25% 2,200.0 — 1.00% Notes due December 1, 2020 (1) 690.0 690.0 2.625% Notes, Series B (2) 356.9 356.9 Note payable to SMBC due 2016 through 2018, interest payable quarterly at 2.40% and 2.36%, respectively (3) 169.9 198.2 U.S. real estate mortgages payable monthly through 2019 at an average rate of 3.12% and 3.35%, respectively (4) 41.1 50.0 Philippine term loans due 2016 through 2020, interest payable quarterly at 2.63% and 2.32%, respectively (7) 50.0 50.0 Loan with Singapore bank, interest payable weekly at 1.69% and 1.67%, respectively (6)(10) 25.0 30.0 Loan with Hong Kong bank, interest payable weekly at 1.70% and 1.67%, respectively (6)(10) 25.0 25.0 Malaysia revolving line of credit, interest payable quarterly at 2.08% and 2.05%, respectively (7) (10) 25.0 25.0 Vietnam revolving line of credit, interest payable quarterly at an average rate of 2.12% and 1.89%, respectively (7) (10) 13.1 20.8 Loan with Philippine bank due 2016 through 2019, interest payable quarterly at 2.96% and 2.70%, respectively (5) 16.5 18.8 Canada revolving line of credit, interest payable quarterly at 2.27% and 2.01%, respectively (7) (10) 15.0 15.0 Loan with Japanese bank due 2016 through 2020, interest payable quarterly at 1.1% (7) 4.4 4.2 Canada equipment financing payable monthly through 2017 at 3.81% (5) 1.4 2.4 U.S. equipment financing payable monthly through 2016 at 2.40% (5) 0.4 1.3 Capital lease obligations 18.5 28.2 Gross long-term debt, including current maturities 3,652.2 1,515.8 Less: Debt discount (8) (126.6 ) (107.5 ) Less: Debt issuance costs (9) (53.8 ) (14.4 ) Net long-term debt, including current maturities 3,471.8 1,393.9 Less: Current maturities (536.7 ) (543.4 ) Net long-term debt $ 2,935.1 $ 850.5 _______________________ (1) Interest is payable on June 1 and December 1 of each year at 1.00% annually. (2) Interest is payable on June 15 and December 15 of each year at 2.625% annually. 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. The notes can be converted at any time on or after June 15, 2016. (3) This loan represents SCI LLC's non-collateralized loan with SMBC, which is guaranteed by the Company. (4) Debt arrangement collateralized by real estate, including certain of the Company's facilities in California, Oregon and Idaho. (5) Debt collateralized by equipment. (6) Debt arrangement collateralized by accounts receivable. (7) Non-collateralized debt arrangement . (8) Debt discount of $90.9 million and $100.2 million for the 1.00% Notes as of July 1, 2016 and December 31, 2015 , respectively, $3.6 million and $7.3 million for the 2.625% Notes, Series B as of July 1, 2016 and December 31, 2015 , respectively, and $32.1 million and zero for the Term Loan "B" Facility as of July 1, 2016 and December 31, 2015 , respectively. (9) Debt issuance costs of $12.7 million and $13.9 million for the 1.00% Notes as of July 1, 2016 and December 31, 2015 , respectively, $0.3 million and $0.5 million for the 2.625% Notes, Series B as of July 1, 2016 and December 31, 2015 , respectively, and $40.8 million and zero for the Term Loan "B" Facility as of July 1, 2016 and December 31, 2015 , respectively. (10) The Company has historically renewed these arrangements annually. Expected maturities relating to the Company’s long-term debt as of July 1, 2016 are as follows (in millions): Period Expected Maturities Remainder of 2016 $ 492.7 2017 91.3 2018 170.2 2019 69.7 2020 721.8 Thereafter 2,106.5 Total $ 3,652.2 For purposes of the table above, the 2.625% Notes, Series B are assumed to mature at the earliest conversion date. For additional information with respect to the Company's long-term debt, see Note 8: "Long-Term Debt" of the notes to the Company's audited consolidated financial statements included in Part IV, Item 15 of the 2015 Form 10-K. Fairchild Transaction Financing On April 15, 2016, the Company secured capital for the purchase consideration of Fairchild and other general corporate purposes by entering into a $600 million senior revolving credit facility (the “Revolving Credit Facility”) and a $2.2 billion term loan “B” facility (the “Term Loan “B” Facility”), the terms of which are set forth in a Credit Agreement (the “New Credit Agreement”), dated as of April 15, 2016. Availability of the Revolving Credit Facility is contingent on the closing of the Fairchild Transaction. Upon such closing, the Company's current senior revolving credit facility described below will terminate and be replaced by the Revolving Credit Facility. The Revolving Credit Facility will mature on the fifth year anniversary of the closing of the Fairchild Transaction. The Term Loan “B” Facility matures on March 31, 2023. As of July 1, 2016, the Company has borrowed an aggregate of $2.2 billion under the Term Loan “B” Facility. The proceeds, along with $67.7 million funded by the Company, were deposited into escrow accounts, and included within restricted cash on the Company's Consolidated Balance Sheet as of July 1, 2016, and upon release will be available to pay, directly or indirectly, the purchase price of the acquisition of Fairchild, to refinance, repay or terminate, including discharging and releasing all security and guaranties in respect of, certain of the Company’s and Fairchild’s and its subsidiaries’ existing third party debt (including, but not limited to, the Company's Amended and Restated Credit Agreement, dated as of October 10, 2013, which is the Company's currently available senior revolving credit facility), pay transaction fees and expenses, and pay interest on the proceeds in the event of an event of default under the New Credit Agreement during the escrow period. The Term Loan “B” Facility had a 1.5% original issuance discount (“OID”) of the principal amount of the Term Loan “B” Facility, or $33.0 million , which was withheld from the proceeds. The OID is amortized using the effective interest rate method over the term of the Term Loan “B” Facility. The $67.7 million funded by the Company is treated as an investing cash outflow. The proceeds from the Term Loan “B” Facility are reflected as noncash activities. See Note 14: “Supplemental Disclosures” for additional information. All borrowings under the New Credit Agreement may, at the Company’s option, be incurred as either eurocurrency loans (“Eurocurrency Loans”) or alternate base rate loans (“ABR Loans”). Eurocurrency Loans will accrue interest, subject to interest rate floors set forth in the New Credit Agreement, for any interest period, at (a) a base rate per annum equal to the Adjusted LIBO Rate (as defined in the New Credit Agreement) plus (b) an applicable margin equal to (i) 4.00% with respect to borrowings under the Revolving Credit Facility or (ii) 4.50% with respect to borrowings under the Term Loan “B” Facility. ABR Loans will accrue interest, for any interest period, at (a) a base rate per annum equal to the highest of (i) the Federal funds rate plus 1/2 of 1%, (ii) the prime commercial lending rate announced by Deutsche Bank AG, New York Branch, from time to time as its prime lending rate and (iii) the Adjusted LIBO Rate for a one month interest period (determined after giving effect to any applicable “floor”) plus 1.00% ; provided that, the Adjusted LIBO Rate for any day shall be based on the LIBO Rate (as defined in the New Credit Agreement), subject to the interest rate floors set forth in the New Credit Agreement plus (b) an applicable margin equal to (i) 3.00% with respect to borrowings under the Revolving Credit Facility or (ii) 3.50% with respect to borrowings under the Term Loan “B” Facility. The applicable margin for borrowings under the Revolving Credit Facility will vary based on a defined leverage ratio, which is defined in the Revolving Credit Facility. Borrowings under the Term Loan “B” Facility were incurred as a Eurocurrency Loans and bear interest at the rate of 5.25% as of July 1, 2016. The Company incurred debt issuance costs consisting of legal, underwriting and other fees of $41.9 million for the Term Loan “B” Facility. The underwriter fees are earned and payable as of the acquisition closing date. The Company recognized the Term Loan “B” Facility underwriter fees as a direct deduction from the carrying amount of the debt upon receiving the proceeds from the Term Loan “B” Facility, together with a payable for the amount of underwriter fees expected to be paid as of the acquisition closing date. The Company recorded the Term Loan “B” Facility debt issuance costs as a direct deduction from the carrying amount of the debt and is amortizing them using the effective interest rate method over the term of the loan. The Company incurred debt issuance costs consisting of legal, underwriting and other fees of $7.3 million for the Revolving Credit Facility. The Company recognized the Revolving Credit Facility underwriter fees and debt issuance costs as deferred costs, which are included in other assets on the Company's Balance Sheet. The Company will amortize these deferred costs on a straight line basis over the term of the Revolving Credit Facility upon the acquisition closing date, which is the date the revolver is available to the Company.

Earnings Per Share and Equity

Earnings Per Share and Equity	6 Months Ended
	Jul. 01, 2016
Earnings Per Share [Abstract]
Earnings Per Share and Equity	Note 8: Earnings Per Share and Equity Earnings Per Share Calculations of net income per common share attributable to ON Semiconductor are as follows (in millions, except per share data): Quarter Ended Six Months Ended July 1, 2016 July 3, 2015 July 1, 2016 July 3, 2015 Net income attributable to ON Semiconductor Corporation $ 25.1 $ 50.7 $ 61.1 $ 105.8 Basic weighted-average common shares outstanding 414.9 426.9 413.7 429.2 Dilutive effect of share-based awards 2.7 4.5 2.8 5.1 Dilutive effect of Convertible Notes — 4.9 — 3.9 Diluted weighted-average common shares outstanding 417.6 436.3 416.5 438.2 Net income per common share attributable to ON Semiconductor Corporation: Basic $ 0.06 $ 0.12 $ 0.15 $ 0.25 Diluted $ 0.06 $ 0.12 $ 0.15 $ 0.24 Basic net 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 was 1.7 million and 1.2 million for the quarters ended July 1, 2016 and July 3, 2015 , respectively, and 3.3 million and 1.1 million for the six months ended July 1, 2016 and July 3, 2015 , respectively. The dilutive impact related to the Company's 1.00% Notes and 2.625% Notes, Series B is determined in accordance with the net share settlement requirements prescribed by ASC Topic 260, Earnings Per Share . Under the net share settlement calculation, the Company's convertible notes are assumed to be convertible into cash up to the par value, with the excess of par value being convertible into common stock. A dilutive effect occurs when the stock price exceeds the conversion price for each of the convertible notes. In periods when the share price is lower than the conversion price, the impact is anti-dilutive and therefore has no impact on the Company's earnings per share calculations. Additionally, if the average price of the Company's common stock exceeds $25.96 per share for a reporting period, the Company will also include the effect of the additional potential shares, using the treasury stock method, that may be issued related to the warrants that were issued concurrently with the issuance of the 1.00% Notes. Prior to conversion, the convertible note hedges are not considered for purposes of the earnings per share calculations, as their effect would be anti-dilutive. Upon conversion, the convertible note hedges are expected to offset the dilutive effect of the 1.00% Notes when the stock price is above $18.50 per share. See Note 8: "Long-Term Debt" of the notes to the Company's audited Consolidated Financial Statements included in Part IV, Item 15 of the 2015 Form 10-K for a discussion of the conversion prices and other features of the 2.625% Notes, Series B and the 1.00% Notes . Equity Share Repurchase Program There were no repurchases of the Company's common stock under our share repurchase program during the quarter and six months ended July 1, 2016 as the Company focuses on building up cash reserves ahead of the Fairchild Transaction. Information relating to the Company's share repurchase programs during the quarter and six months ended July 3, 2015 is as follows (in millions, except per share data): Quarter Ended Six Months Ended July 3, 2015 July 3, 2015 Number of repurchased shares (1)(5) 10.4 19.0 Beginning accrued share repurchases (2) $ 2.0 $ — Aggregate purchase price 131.1 228.1 Less: ending accrued share repurchases (3) (3.0 ) (3.0 ) Total cash used for share repurchases $ 130.1 $ 225.1 Weighted-average purchase price per share (4) $ 12.59 $ 11.96 Available for future purchases at period end $ 748.2 $ 748.2 (1) None of these shares had been reissued or retired as of July 1, 2016 , 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 as of the beginning of the period. (3) Represents unpaid amounts recorded in accrued expenses on the Company's Consolidated Balance Sheet as of the end of the period. (4) Exclusive of fees, commissions and other expenses. (5) Includes 5.4 million shares, totaling $70.0 million , repurchased concurrently with the issuance of the 1.00% Notes. Shares for Restricted Stock Units Tax Withholding Treasury stock is recorded at cost and is presented as a reduction of stockholders' equity in the accompanying unaudited consolidated financial statements. Shares, with a fair market value equal to the applicable statutory minimum amount of the employee withholding taxes due, are withheld by the Company upon the vesting of restricted stock units to pay the applicable statutory minimum amount of employee withholding taxes and are considered common stock repurchases. The Company then pays the applicable statutory minimum amount of withholding taxes in cash. The amount remitted for the quarter and six months ended July 1, 2016 , was $ 0.2 million and $8.2 million , respectively, for which the Company withheld less than 0.1 million and 0.9 million shares of common stock, respectively, that were underlying the restricted stock units that vested. The amount remitted for the quarter and six months ended July 3, 2015 was $0.2 million and $11.4 million , respectively, for which the Company withheld less than 0.1 million and 0.9 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 July 1, 2016 ; however, these shares may be reissued or retired by the Company at a later date. Non-Controlling Interest The Company's entity which operates assembly and test operations in Leshan, China is owned by a joint venture company, Leshan-Phoenix Semiconductor Company Limited (“Leshan”). The Company owns a majority of the outstanding equity interests in Leshan, and the Company's investment in Leshan has been consolidated in its financial statements. At December 31, 2015 , the non-controlling interest balance was $ 23.7 million . This balance increased to $24.8 million as of July 1, 2016 , resulting from the non-controlling interest's $1.1 million share of the earnings for the six months ended July 1, 2016 . At December 31, 2014 , the non-controlling interest balance was $20.9 million . This balance was $22.3 million as of July 3, 2015 due to the non-controlling interest's $1.4 million share of the earnings for the six months ended July 3, 2015 .

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jul. 01, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Note 9: Share-Based Compensation Total share-based compensation expense related to the Company's employee stock options, restricted stock units, stock grant awards and ESPP for the quarters and six months ended July 1, 2016 and July 3, 2015 was comprised as follows (in millions): Quarter Ended Six Months Ended July 1, 2016 July 3, 2015 July 1, 2016 July 3, 2015 Cost of revenues $ 2.1 $ 1.9 $ 4.0 $ 3.8 Research and development 2.9 2.5 5.4 4.8 Selling and marketing 2.5 2.3 4.6 4.5 General and administrative 8.6 7.4 13.7 12.3 Share-based compensation expense before income taxes $ 16.1 $ 14.1 $ 27.7 $ 25.4 Related income tax benefits (1) — — — — Share-based compensation expense, net of taxes $ 16.1 $ 14.1 $ 27.7 $ 25.4 ____________________ (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. As of July 1, 2016 , total estimated unrecognized share-based compensation expense, net of estimated forfeitures, related to non-vested stock options granted prior to that date was $ 0.2 million , which is expected to be recognized over a weighted-average period of 4 months. As of July 1, 2016 , total estimated unrecognized share-based compensation expense, net of estimated forfeitures, related to non-vested restricted stock units with time-based service conditions and performance-based vesting criteria granted prior to that date was $ 73.6 million , which is expected to be recognized over a weighted-average period of 2.1 years. The total intrinsic value of stock options exercised during the quarter and six months ended July 1, 2016 was $ 0.3 million and $0.8 million , respectively. The Company recorded cash received from the exercise of stock options of $0.6 million and $2.2 million , respectively, during the quarter and six months ended July 1, 2016 . The Company recorded no related income tax benefits during the quarter and six months ended July 1, 2016 . Share-Based Compensation Information Share-based compensation expense recognized in the Consolidated Statements of Operations and Comprehensive Income is based on awards that are ultimately expected to vest. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The annualized pre-vesting forfeiture rate for stock options was estimated to be 11% and 11% during the quarters ended July 1, 2016 and July 3, 2015 , respectively. The annualized pre-vesting forfeiture rate for restricted stock units was estimated to be 5% and 5% during the quarters ended July 1, 2016 and July 3, 2015 , respectively. Shares Available As of December 31, 2015 , there was an aggregate of 28.7 million shares of common stock available for grant under the Company's Amended and Restated SIP and 6.7 million shares available for issuance under the ESPP. As of July 1, 2016 , there was an aggregate of 20.6 million shares of common stock available for grant under the Amended and Restated SIP and 5.8 million shares available for issuance under the ESPP. Stock Options Summarized stock option information for the quarter and six months ended July 1, 2016 is as follows (in millions, except per share and contractual term data): Six Months Ended July 1, 2016 Number of Shares Weighted-Average Exercise Price Per Share Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (In-The-Money) Outstanding at December 31, 2015 5.2 $ 7.85 Granted — — Exercised (0.3 ) 6.70 Canceled — — Outstanding at July 1, 2016 4.9 $ 7.92 1.96 $ 5.5 Exercisable at July 1, 2016 4.6 $ 8.03 1.87 $ 4.8 Additional information with respect to stock options outstanding as of July 1, 2016 , with exercise prices less than or above $ 8.78 per share, the closing price of the Company's common stock at July 1, 2016 , is as 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 $8.78 2.8 $ 7.07 0.3 $ 6.28 3.1 $ 7.00 Above $8.78 1.8 $ 9.54 — $ — 1.8 $ 9.54 Total outstanding 4.6 $ 8.03 0.3 $ 6.28 4.9 $ 7.92 Restricted Stock Units Restricted stock units generally vest over three years with service-based requirements or performance-based requirements or a combination of service-based and performance-based requirements and are payable in shares of the Company's common stock upon vesting. The following table presents summarized information with respect to the Company's restricted stock units as of July 1, 2016 and changes during the six months ended July 1, 2016 (number of shares in millions): Number of Shares Weighted-Average Grant Date Fair Value Non-vested shares underlying restricted stock units at December 31, 2015 8.5 $ 10.52 Granted 5.1 9.04 Released (3.0 ) 9.64 Forfeited (0.1 ) 10.11 Non-vested shares underlying restricted stock units at July 1, 2016 10.5 $ 10.05 Stock Grant Awards During the quarter and six months ended July 1, 2016 , 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 $9.81 per share.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 01, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 10: Commitments and Contingencies Leases The following represents future minimum lease obligations under non-cancelable operating leases as of July 1, 2016 (in millions): Remainder of 2016 $ 11.9 2017 19.3 2018 13.9 2019 10.4 2020 7.6 Thereafter 25.0 Total $ 88.1 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 clean-up 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. The Company has ongoing remediation projects at this site 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 its acquisition of AMIS, the Company is a "primary responsible party" to an environmental remediation and clean-up 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 clean-up 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 has 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. The Company was notified by the Environmental Protection Agency (“EPA”) that it has been identified as a “potentially responsible party” (“PRP”) in the Chemetco Superfund matter. Chemetco is a defunct reclamation services supplier who operated in Illinois at what is now a Superfund site. The Company used Chemetco for reclamation services. The EPA is pursuing Chemetco customers for contribution to the site cleanup activities. The Company has joined a PRP group which is cooperating with the EPA in the evaluation and funding of the cleanup. 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. 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, material purchase commitments, agreements to mitigate collection risk, leases, utilities or customs guarantees. As of July 1, 2016 , the Company's senior revolving credit facility included $ 15.0 million of availability for the issuance of letters of credit. There were no letters of credit outstanding under the senior revolving credit facility as of July 1, 2016 . The Company also had outstanding guarantees and letters of credit outside of its senior revolving credit facility totaling $5.3 million as of July 1, 2016 . As part of obtaining financing in the normal course of business, the Company issued guarantees related to certain of its capital lease obligations, equipment financing, lines of credit and real estate mortgages, which totaled $152.3 million as of July 1, 2016 . The Company is also a guarantor of SCI LLC's non-collateralized loan with SMBC, which had a balance of $169.9 million as of July 1, 2016 . See Note 7: ''Long-Term Debt'' for additional information. Based on historical experience and information currently available, the Company believes that it will not be required to make payments under the standby letters of credit or guarantee arrangements for the foreseeable future. Indemnification Contingencies The Company is a party to a variety of agreements entered into in the ordinary course of business pursuant to which it may be obligated to indemnify the other parties for certain liabilities that arise out of or relate to the subject matter of the agreements. Some of the agreements entered into by the Company require it to indemnify the other party against losses due to IP infringement, property damage including environmental contamination, personal injury, failure to comply with applicable laws, the Company’s negligence or willful misconduct, or breach of representations and warranties and covenants related to such matters as title to sold assets. The Company faces risk of exposure to warranty and product liability claims in the event that its products fail to perform as expected or such failure of its products results, or is alleged to result, in economic damage, bodily injury or property damage. In addition, if any of the Company’s designed products are alleged to be defective, the Company may be required to participate in their recall. Depending on the significance of any particular customer and other relevant factors, the Company may agree to provide more favorable rights to such customer for valid defective product claims. The Company and its subsidiaries provide for indemnification of directors, officers and other persons in accordance with limited liability 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. On February 19, 2016, the Board of Directors of the Company approved a form of indemnification agreement (the “Indemnification Agreement”) and authorized the Company to enter into an indemnification agreement in substantially the form of the Indemnification Agreement with each of its directors and executive officers (each, an “Indemnitee”). The Indemnification Agreement clarifies and supplements the indemnification rights and obligations of the Indemnitee and Company already included in the Company’s Certificate of Incorporation and Bylaws. Under the terms of the Indemnification Agreement, subject to certain exceptions specified in the Indemnification Agreement, the Company will indemnify the Indemnitee to the fullest extent permitted by Delaware law in the event the Indemnitee becomes subject to or a participant in certain claims or proceedings as a result of the Indemnitee’s service as a director or officer. The Company will also, subject to certain exceptions and repayment conditions, advance to the Indemnitee specified indemnifiable expenses incurred in connection with such claims or proceedings. 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 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, the Company cannot guarantee the outcome of these actions. On December 14, 2015, the Company was named as a defendant in a shareholder class action lawsuit filed in state court in Delaware against the Company, Merger Sub, Fairchild and certain directors of Fairchild with respect to the Fairchild Agreement entered into between our Merger Sub and Fairchild in November 2015, by which the Company commenced a tender offer to acquire all of the outstanding shares of Fairchild. The lawsuit alleges breach of duty by the individual defendants and aiding and abetting by the Company and the Merger Sub and has been docketed in the Court of Chancery of the State of Delaware (“District Court”) as Woo v. Fairchild Semiconductor International, Inc. et al , Case # 11798VCL. In March 2016, the plaintiff amended the complaint to allege that Fairchild’s failure to accept the proposal from a third party constituted a breach of fiduciary duty and that certain disclosures filed on Form 14D-9 were misleading or inaccurate. As relief, the amended complaint continues to seek, among other things, an injunction against the tender offer and the merger that are part of the Fairchild Transaction, an accounting for damages, and an award of attorneys’ fees and costs. The Company believes that the claim against it is without merit and intends to defend the litigation vigorously. The litigation process is inherently uncertain, however, and the Company cannot guarantee that the outcome of this matter will be favorable for it. Intellectual Property Matters We face risk to exposure from claims of infringement of the IP rights of others. In the ordinary course of business, we receive letters asserting that the Company's products or components breach another party’s rights. These threats may seek that we make royalty payments, that we stop use of such rights, or other remedies.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 01, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 11: Fair Value Measurements Fair Value of Financial Instruments Summarized information with respect to certain of the Company's financial assets and liabilities measured at fair value on a recurring basis as of July 1, 2016 and December 31, 2015 is as follows (in millions): Fair Value Measurements as of July 1, 2016 Description Balance as of July 1, 2016 Level 1 Level 2 Level 3 Assets: Cash and Cash equivalents: Demand and time deposits $ 17.2 $ 17.2 $ — $ — Liabilities: Contingent consideration (See Note 3) 5.0 — — 5.0 Fair Value Measurements as of December 31, 2015 Description Balance as of December 31, 2015 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents: Demand and time deposits $ 9.5 $ 9.5 $ — $ — Money market funds 33.2 33.2 — — Liabilities: Designated cash flow hedges $ 0.2 $ — $ 0.2 $ — Foreign currency exchange contracts 0.1 — 0.1 — Contingent consideration (See Note 3) 5.0 — — 5.0 Other The carrying amounts of other current assets and liabilities, such as accounts receivable and accounts payable, approximate fair value based on the short-term nature of these instruments. Fair Value of Long-Term Debt, Including Current Portion The carrying amounts and fair values of the Company’s long-term borrowings (excluding capital lease obligations, real estate mortgages and equipment financing) as of July 1, 2016 and December 31, 2015 are as follows (in millions): July 1, 2016 December 31, 2015 Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt, including current portion Convertible notes $ 939.5 $ 982.7 $ 925.0 $ 1,041.9 Long-term debt $ 2,470.9 $ 2,555.0 $ 386.9 $ 386.6 The fair value of the Company's 2.625% Notes, Series B, 1.00% Notes, and Term Loan "B" Facility were estimated based on market prices in active markets (Level 1). The fair value of other long-term debt was estimated based on discounting the remaining principal and interest payments using current market rates for similar debt (Level 2) as of July 1, 2016 and December 31, 2015 . Cost Method Investments Investments in equity securities that do not qualify for fair value accounting are accounted for under the cost method. Accordingly, the Company accounts for investments in companies that it does not control, or have significant influence over, under the cost method, as applicable. If a decline in the fair value of a cost method investment is determined to be other than temporary, an impairment charge is recorded, and the fair value becomes the new cost basis of the investment. The Company evaluates all of its cost method investments for impairment; however, it is not required to determine the fair value of its investment unless impairment indicators are present. As of July 1, 2016 and December 31, 2015 , the Company’s cost method investments had a carrying value of $13.1 million and $12.3 million , respectively.

Financial Instruments

Financial Instruments	6 Months Ended
	Jul. 01, 2016
Investments, All Other Investments [Abstract]
Financial Instruments	Note 12: Financial Instruments Foreign Currencies As a multinational business, the Company’s transactions are denominated in a variety of currencies. When appropriate, the Company uses forward foreign currency contracts to reduce its overall exposure to the effects of currency fluctuations on its results of operations and cash flows. The Company’s policy prohibits trading in currencies for which there are no underlying exposures, or entering into trades for any currency to intentionally increase the underlying exposure. The Company primarily hedges existing assets and liabilities associated with transactions currently on its balance sheet, which are undesignated hedges for accounting purposes. As of July 1, 2016 and December 31, 2015 , the Company had net outstanding foreign exchange contracts with notional amounts of $107.6 million and $ 89.8 million , respectively. Such contracts were obtained through financial institutions and were scheduled to mature within one to three months from the time of purchase. Management believes that these financial instruments should not subject the Company to increased risks from foreign exchange movements because gains and losses on these contracts should offset losses and gains on the underlying assets, liabilities and transactions to which they are related. The following summarizes the Company’s net foreign exchange positions in U.S. dollars as of July 1, 2016 and December 31, 2015 (in millions): July 1, 2016 December 31, 2015 Buy (Sell) Notional Amount Buy (Sell) Notional Amount Euro $ (33.5 ) $ 33.5 $ (17.5 ) $ 17.5 Japanese Yen (29.4 ) 29.4 (30.0 ) 30.0 Malaysian Ringgit 8.5 8.5 7.1 7.1 Philippine Peso 17.3 17.3 13.7 13.7 Other Currencies - Buy 11.5 11.5 17.1 17.1 Other Currencies - Sell (7.4 ) 7.4 (4.4 ) 4.4 $ (33.0 ) $ 107.6 $ (14.0 ) $ 89.8 The Company is exposed to credit-related losses if counterparties to its foreign exchange contracts fail to perform their obligations. As of July 1, 2016 , the counterparties to the Company’s foreign currency hedge contracts as well as the cash flow hedges described below are held at financial institutions which the Company believes to be highly rated, and no credit-related losses are anticipated. Amounts receivable or payable under the contracts are included in other current assets or accrued expenses in the accompanying Consolidated Balance Sheet. For the quarters ended July 1, 2016 and July 3, 2015 , realized and unrealized foreign currency transactions totaled a $1.8 million loss and a $0.1 million loss, respectively. For the six months ended July 1, 2016 , realized and unrealized foreign currency transactions totaled a $3.3 million loss. For the six months ended July 3, 2015 , there was no gain or loss recognized from realized and unrealized foreign currency transactions. The realized and unrealized foreign currency transactions are included in other income and expenses in the Company's Consolidated Statements of Operations and Comprehensive Income. Cash Flow Hedges 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 Company did not have outstanding derivatives designated as cash flow hedges as of July 1, 2016 . For the quarter and six months ended July 1, 2016 , the Company recorded a net loss of zero and $0.2 million , respectively, and a net loss of $1.6 million and $3.4 million for the quarter and six months ended July 3, 2015 , respectively, associated with cash flow hedges recognized as a component of cost of revenues.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Loss	6 Months Ended
	Jul. 01, 2016
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	Note 13: Changes in Accumulated Other Comprehensive Loss Amounts comprising the Company's accumulated other comprehensive loss and reclassifications for the six months ended July 1, 2016 are as follows (net of tax of $0 , in millions): Foreign Currency Translation Adjustments Effects of Cash Flow Hedges Total Balance as of December 31, 2015 $ (42.2 ) $ (0.1 ) $ (42.3 ) Other comprehensive income (loss) prior to reclassifications 2.8 0.3 3.1 Amounts reclassified from accumulated other comprehensive loss — (0.2 ) (0.2 ) Net current period other comprehensive income (loss) 2.8 0.1 2.9 Balance as of July 1, 2016 $ (39.4 ) $ — $ (39.4 ) Amounts which were reclassified from accumulated other comprehensive loss to the Company's Consolidated Statements of Operations and Comprehensive Income during the quarter and six months ended July 1, 2016 and July 3, 2015 , respectively, were as follows (net of tax of $0 , in millions): Amounts Reclassified from Accumulated Other Comprehensive Loss Quarter Ended Six Months Ended July 1, 2016 July 3, 2015 July 1, 2016 July 3, 2015 Affected Line Item Where Net Income is Presented Effects of cash flow hedges $ — $ (1.6 ) $ 0.2 $ (3.4 ) Cost of revenues Gains and Losses on Available-for-Sale Securities — — — (3.4 ) Other income and expense Total reclassifications $ — $ (1.6 ) $ 0.2 $ (6.8 ) Included in accumulated other comprehensive loss as of July 1, 2016 is $9.3 million of foreign currency translation losses related to the Company’s subsidiary that owns the KSS facility, which utilizes the Japanese Yen as its functional currency. In connection with the previously announced restructuring plan, the Company intends to liquidate the legal entity. Upon the substantial liquidation of the KSS entity, the Company will evaluate the need to release any amount remaining in accumulated other comprehensive income to its results of operations, as required by the applicable accounting standards.

Supplemental Disclosures

Supplemental Disclosures	6 Months Ended
	Jul. 01, 2016
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures	Note 14: Supplemental Disclosures Supplemental Disclosure of Cash Flow Information Certain of the Company's non-cash activities along with cash payments for interest and income taxes are as follows (in millions): Six Months Ended July 1, 2016 July 3, 2015 Non-cash activities: Term Loan "B" Facility proceeds deposited directly to escrow account $ 2,167.0 $ — Debt issuance costs in accrued expenses $ 46.1 $ — Capital expenditures in accounts payable and other liabilities $ 73.4 $ 91.1 Equipment acquired or refinanced through capital leases $ — $ 1.5 Cash (received) paid for: Interest income $ (2.4 ) $ (0.6 ) Interest expense $ 32.2 $ 14.4 Income taxes $ 12.6 $ 11.3

Segment Information

Segment Information	6 Months Ended
	Jul. 01, 2016
Segment Reporting [Abstract]
Segment Information	Note 15: Segment Information As of July 1, 2016 , the Company was organized into four reportable segments, consisting of the Application Products Group, Standard Products Group, System Solutions Group and Image Sensor Group. Each of the Company's major product lines has been examined, and each product line has been assigned to a reportable segment based on the Company's operating strategy. Because many products are sold into different end-markets, the total 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. Revenues and gross profit for the Company’s reportable segments for the quarters and six months ended July 1, 2016 and July 3, 2015 are as follows (in millions): Application Products Group Image Sensor Group Standard Products Group System Solutions Group Total For the quarter ended July 1, 2016: Revenues from external customers $ 272.6 $ 172.8 $ 309.8 $ 122.6 $ 877.8 Segment gross profit $ 125.7 $ 57.4 $ 111.6 $ 24.8 $ 319.5 For the quarter ended July 3, 2015: Revenues from external customers $ 263.5 $ 173.2 $ 307.8 $ 136.0 $ 880.5 Segment gross profit $ 120.0 $ 53.2 $ 107.0 $ 28.2 $ 308.4 For the six months ended July 1, 2016: Revenues from external customers $ 523.1 $ 341.0 $ 594.7 $ 236.2 $ 1,695.0 Segment gross profit $ 229.5 $ 118.5 $ 211.2 $ 43.0 $ 602.2 For the six months ended July 3, 2015: Revenues from external customers $ 527.8 $ 343.7 $ 611.0 $ 268.8 $ 1,751.3 Segment gross profit $ 237.3 $ 102.7 $ 219.1 $ 53.4 $ 612.5 Gross profit shown above and below is exclusive of the amortization of acquisition-related intangible assets. Depreciation expense is included in segment gross profit. Reconciliations of segment gross profit to consolidated gross profit are as follows (in millions): Quarter Ended Six Months Ended July 1, 2016 July 3, 2015 July 1, 2016 July 3, 2015 Gross profit for reportable segments $ 319.5 $ 308.4 $ 602.2 $ 612.5 Less: unallocated manufacturing costs (1) (11.6 ) (4.0 ) (18.8 ) (7.7 ) Consolidated Gross profit $ 307.9 $ 304.4 $ 583.4 $ 604.8 _______________________ (1) During the third quarter of 2015, the Company began allocating certain manufacturing costs to its segments that were previously included as unallocated manufacturing costs. Comparative information has been recast to conform with the current period presentation. The Company's consolidated assets are not specifically ascribed to its individual reporting segments. Rather, assets used in operations are generally shared across the Company's reporting segments. The Company operates in various geographic locations. Sales to unaffiliated customers have little correlation with the location of manufacturers. It is therefore not meaningful to present gross profit by geographical location. Revenues by geographic location, including local sales made by operations within each area, based on sales billed from the respective country, are summarized as follows (in millions): Quarter Ended Six Months Ended July 1, 2016 July 3, 2015 July 1, 2016 July 3, 2015 United States $ 139.6 $ 140.8 $ 280.5 $ 272.6 Japan 81.5 64.8 165.8 127.4 Hong Kong 217.1 224.0 395.1 415.2 Singapore 256.0 294.6 502.4 610.9 United Kingdom 141.0 119.2 275.1 248.9 Other 42.6 37.1 76.1 76.3 $ 877.8 $ 880.5 $ 1,695.0 $ 1,751.3 Property, plant and equipment, net by geographic location, is summarized as follows (in millions): July 1, 2016 December 31, United States $ 336.3 $ 326.2 Czech Republic 97.9 102.9 Malaysia 220.8 226.5 Philippines 250.5 259.1 China 102.7 111.0 Other 269.0 248.4 $ 1,277.2 $ 1,274.1 For the quarters and six months ended July 1, 2016 and July 3, 2015 , there were no individual customers, including distributors, which accounted for more than 10% of the Company's total consolidated revenues.

Recent Developments and Subsequ

Recent Developments and Subsequent Events	6 Months Ended
	Jul. 01, 2016
Subsequent Events [Abstract]
Recent Developments and Subsequent Events	Note 16: Recent Developments and Subsequent Events Pending Acquisition of Fairchild Pursuant to the terms and conditions set forth in the Fairchild Agreement, the Company, through Merger Sub, has commenced an offer (the “Offer”) to acquire all of the outstanding shares of Fairchild’s common stock, par value $0.01 per share (the “Shares”), for $20.00 per share in cash, without interest (the “Offer Price”). Following completion of the Offer and subject to the satisfaction or waiver of certain customary conditions set forth in the Fairchild Agreement, including the receipt of certain required regulatory approvals, Merger Sub will be merged with and into Fairchild, with Fairchild surviving as the Company's wholly-owned subsidiary (the “Merger”). The Company has financed the estimated $2.4 billion of cash consideration with a combination of cash on hand, proceeds from the issuance of the Term Loan “B” Facility and borrowings available under the Revolving Credit Facility. See Note 7: ''Long-Term Debt'' for additional information related to the financing. The transactions contemplated by the Fairchild Agreement have been unanimously approved by the boards of directors of both companies. A detailed description of the transactions contemplated by the Fairchild Agreement can be found in the 8-K filed by the Company with the SEC on November 18, 2015 , the Tender Offer Statement on Schedule TO (including the related tender offer materials, including the offer to purchase, the related letter of transmittal and certain other tender offer documents) filed by the Company with the SEC on December 4, 2015 , the Solicitation/ Recommendation Statement on Schedule 14D-9 filed by Fairchild with the SEC with respect to the tender offer on December 4, 2015 and all subsequent amendments and supplements to those documents filed with the SEC by the Company and Fairchild. A detailed description of the financing for the Fairchild Transaction is included in the Form 8-K filed by the Company with the SEC on April 15, 2016. The Company currently expects the transactions contemplated by the Fairchild Agreement to close during the third quarter of 2016. Factors, such as regulatory approvals, may affect when and whether the Merger will occur.

Background and Basis of Prese23

Background and Basis of Presentation Background and Basis of Presentation (Policies)	6 Months Ended
	Jul. 01, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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 and allowances, warranties, and restructuring activities; (iii) assumptions surrounding future pension obligations; (iv) fair values of share-based compensation and of financial instruments (including derivative financial instruments); (v) evaluations of uncertain tax positions; (vi) estimates and assumptions used in connection with business combinations; and (vii) future cash flows used to assess and test for impairment of goodwill and long-lived assets, if applicable. Actual results could differ from these estimates.
Recent Accounting Pronouncements	Note 2: Recent Accounting Pronouncements ASUs Pending Adoption: ASU No. 2016-09 - "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" ("ASU 2016-09") In March 2016, the FASB issued ASU 2016-09, which is intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact, classification on the statement of cash flows and forfeitures. The amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of ASU 2016-09 may have on its consolidated financial statements and has not elected early adoption as of the quarter ended July 1, 2016 . ASU No. 2016-02 - "Leases (Topic 842)" ("ASU 2016-02") In February 2016, the FASB issued ASU 2016-02, which amends the accounting treatment for leases. The amendments are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Lessees ( for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of ASU 2016-02 may have on its consolidated financial statements and has not elected early adoption as of the quarter ended July 1, 2016 . ASU No. 2016-01 - “Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU 2016-01”) In January 2016, the FASB issued ASU No. 2016-01, which addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. ASU 2016-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, and early adoption is not permitted. The Company is currently evaluating the impact that the standard will have on our consolidated financial statements. ASU No. 2015-11 - "Inventory (Topic 330): Simplifying the Measurement of Inventory" ("ASU 2015-11") In July 2015, the FASB issued ASU 2015-11, which requires that an entity should measure in-scope inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted. The Company does not anticipate a material impact upon the adoption of ASU 2015-11 and the Company has not elected early adoption as of the quarter ended July 1, 2016 . ASU No. 2014-09 - “Revenue from Contracts with Customers (Topic 606)" (“ASU 2014-09”), ASU No. 2015-14 - "Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date" ("ASU 2015-14"), ASU No. 2016-08 - “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations” (“ASU 2016-08”), ASU No. 2016-10 - “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing” (“ASU 2016-10”) and ASU No. 2016-12 - “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients” (“ASU 2016-12”) In May 2014, the FASB issued ASU 2014-09, which applies to any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of non-financial assets, unless those contracts are within the scope of other standards, superceding the existing revenue recognition requirements in ASC Topic 605 “Revenue Recognition.” Pursuant to ASU 2014-09, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange, as applied through a multi-step process to achieve that core principle. Subsequently, the FASB approved a deferral included in ASU 2015-14 that permits public entities to apply the amendments in ASU 2014-09 for annual reporting periods beginning after December 15, 2017, including interim reporting periods therein, and that would also permit public entities to elect to adopt the amendments as of the original effective date as applicable to reporting periods beginning after December 15, 2016. The new guidance allows for the amendment to be applied either retrospectively to each prior reporting period presented or retrospectively as a cumulative-effect adjustment as of the date of adoption. In March 2016, the FASB issued ASU 2016-08, which clarifies the implementation guidance on principal versus agent considerations. In April 2016, the FASB issued ASU 2016-10, which clarifies identifying performance obligations and the licensing implementation guidance. In May 2016, the FASB issued ASU 2016-12, which improves certain aspects of ASC Topic 606 "Revenue from Contracts with Customers". The effective date and transition requirements for ASU 2016-08, ASU 2016-10 and ASU 2016-12 are the same as the effective date and transition requirements of ASU 2014-09. The Company defers the revenue and cost of revenues on sales to certain distributors until it is informed by the distributor that the distributor has resold the products to the end customer. For additional information with respect to the Company's critical accounting policies, see Note 2: "Significant Accounting Policies" of the notes to the Company's audited consolidated financial statements included in Part IV, Item 15 of the 2015 Form 10-K. Upon adoption of ASU 2014-09, ASU 2015-14, ASU 2016-08, ASU 2016-10 and ASU 2016-12, the Company believes one of the more significant impacts will be that it is no longer permitted to defer revenue until sale by the distributor to the end customer, but rather, will be required to estimate the effects of returns and allowances provided to distributors and record revenue at the time of sale to the distributor. The Company is evaluating early adoption of the provisions of ASU 2014-09, ASU 2015-14, ASU 2016-08, ASU 2016-10 and ASU 2016-12. In anticipation of the adoption of the new standards, the Company has been enhancing and continues to enhance its internal systems, processes and controls for making the required estimates. During the third quarter of 2016, the Company will evaluate its progress as well as Fairchild’s preparedness for the new standards to determine whether early adoption would be appropriate. ASU's Adopted: ASU No. 2015-17 - "Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes" ("ASU 2015-17") In November 2015, the FASB issued ASU 2015-17, which requires that deferred tax liabilities and assets be classified as non-current in a classified statement of financial position. ASU 2015-17 is effective in fiscal years beginning after December 15, 2016. Early adoption is permitted on either a prospective or retrospective basis. The Company previously elected early adoption as of the interim period beginning October 3, 2015, effective for the annual period ended December 31, 2015 , and has selected the prospective application. Prior periods have not been retrospectively adjusted. ASU 2015-05 - “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement” ("ASU 2015-05") In April 2015, the FASB issued ASU 2015-05, which provides guidance regarding the accounting for fees paid by a customer in cloud computing arrangements. ASU 2015-05 amended ASC 350-40-25-16 by removing the language that stated licenses for internal-use software from third parties should be analogized to the subtopic 840-10 Leases. If a cloud computing arrangement includes the transfer of a software license, then the customer would account for the payment of fees as an acquisition of software. If there is no software license, the payment of fees would be accounted for as a service contract. This ASU is effective in fiscal years beginning after December 15, 2015. An entity can elect to adopt the amendments either prospectively for all arrangements entered into or materially modified after the effective date, or retrospectively. The Company adopted ASU 2015-05 as of the quarter ended April 1, 2016 and selected the prospective application. There was no material impact to the financial statements. ASU No. 2015-03 - "Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs" ("ASU 2015-03") and ASU No. 2015-15 - "Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements" ("ASU 2015-15") In April 2015, the FASB issued ASU 2015-03, which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The new standard is effective for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. In August 2015, the FASB issued ASU 2015-15, which clarified that ASU 2015-03 does not address debt issuance costs related to line-of-credit agreements and stated that the SEC staff would not object to the deferral and presentation of debt issuance costs as an asset, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement, consistent with existing guidance. The Company previously elected early adoption of ASU 2015-03 as of the year ended December 31, 2015 , applicable to debt issuance costs related to its convertible notes, and has retrospectively adjusted certain prior year amounts to reflect the effects of applying the new guidance. Pursuant to ASU 2015-15, debt issuance costs relating to the Company's revolving credit facility have been deferred and are included in other assets on the Company's Consolidated Balance Sheet. See Note 7: ''Long-Term Debt'' for additional information with respect to the Company's debt issuance costs.
Cost Method Investments	Cost Method Investments Investments in equity securities that do not qualify for fair value accounting are accounted for under the cost method. Accordingly, the Company accounts for investments in companies that it does not control, or have significant influence over, under the cost method, as applicable. If a decline in the fair value of a cost method investment is determined to be other than temporary, an impairment charge is recorded, and the fair value becomes the new cost basis of the investment. The Company evaluates all of its cost method investments for impairment; however, it is not required to determine the fair value of its investment unless impairment indicators are present.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jul. 01, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill by Operating Segment	The following table summarizes goodwill by relevant reportable segments as of July 1, 2016 and December 31, 2015 (in millions): Balance as of July 1, 2016 Balance as of December 31, 2015 Goodwill Accumulated Impairment Losses Carrying Value Goodwill Accumulated Impairment Losses Carrying Value Reportable Segment: Application Products Group $ 546.7 $ (418.9 ) $ 127.8 $ 546.7 $ (418.9 ) $ 127.8 Image Sensor Group 95.4 — 95.4 95.4 — 95.4 Standard Products Group 76.0 (28.6 ) 47.4 76.0 (28.6 ) 47.4 $ 718.1 $ (447.5 ) $ 270.6 $ 718.1 $ (447.5 ) $ 270.6
Summary of Intangible Assets, Net	Intangible assets, net, were as follows as of July 1, 2016 and December 31, 2015 (in millions): July 1, 2016 Original Cost Accumulated Amortization Foreign Currency Translation Adjustment Accumulated Impairment Losses Carrying Value Intellectual property $ 13.9 $ (10.9 ) $ — $ (0.4 ) $ 2.6 Customer relationships 426.2 (237.9 ) (27.5 ) (23.7 ) 137.1 Patents 43.7 (24.8 ) — (13.7 ) 5.2 Developed technology 269.9 (173.8 ) — (2.6 ) 93.5 Trademarks 16.3 (10.3 ) — (1.1 ) 4.9 Backlog 0.3 (0.3 ) — — — IPRD 39.5 — — (6.0 ) 33.5 Total intangibles $ 809.8 $ (458.0 ) $ (27.5 ) $ (47.5 ) $ 276.8 December 31, 2015 Original Cost Accumulated Amortization Foreign Currency Translation Adjustment Accumulated Impairment Losses Carrying Value Intellectual property $ 13.9 $ (10.6 ) $ — $ (0.4 ) $ 2.9 Customer relationships 426.2 (214.2 ) (27.9 ) (23.7 ) 160.4 Patents 43.7 (23.6 ) — (13.7 ) 6.4 Developed technology 268.0 (152.2 ) — (2.6 ) 113.2 Trademarks 16.3 (9.9 ) — (1.1 ) 5.3 Backlog 0.3 (0.3 ) — — — IPRD 41.4 — — (3.8 ) 37.6 Total intangibles $ 809.8 $ (410.8 ) $ (27.9 ) $ (45.3 ) $ 325.8
Summary of Amortization Expense	Amortization expense for intangible assets, with the exception of the $33.5 million of IPRD assets that will be amortized once the corresponding projects have been completed, is expected to be as follows for each of the next five years and thereafter (in millions): Period Estimated Amortization Expense Remainder of 2016 $ 44.6 2017 63.1 2018 41.6 2019 34.2 2020 22.4 Thereafter 37.4 Total estimated amortization expense $ 243.3

Restructuring, Asset Impairme25

Restructuring, Asset Impairments and Other, Net (Tables)	6 Months Ended
	Jul. 01, 2016
Restructuring Charges [Abstract]
Schedule of Activity Included in Restructuring, Asset Impairments, and Other, Net	Summarized activity included in the “Restructuring, asset impairments and other, net” caption on the Company's Consolidated Statements of Operations and Comprehensive Income for the quarter and six months ended July 1, 2016 is as follows (in millions): Restructuring Quarter ended July 1, 2016 System Solutions Group voluntary workforce reduction $ 4.4 Manufacturing relocation 0.9 Other (1) (0.1 ) Total $ 5.2 Restructuring Six months ended July 1, 2016 System Solutions Group voluntary workforce reduction $ 5.2 Manufacturing relocation 1.2 General workforce reductions 0.3 Other (1) 0.2 Total $ 6.9 (1) Includes amounts related to certain reductions in workforce, other facility closures, asset disposal activity and certain other activity which is not considered to be significant.
Schedule of Restructuring Reserve Roll Forward	Changes in accrued restructuring charges from December 31, 2015 to July 1, 2016 are summarized as follows (in millions): Balance as of December 31, 2015 Charges Usage Balance as of Estimated employee separation charges $ 5.3 $ 6.7 $ (5.3 ) $ 6.7 Estimated costs to exit 0.5 0.2 (0.2 ) 0.5 Total $ 5.8 $ 6.9 $ (5.5 ) $ 7.2

Balance Sheet Information (Tabl

Balance Sheet Information (Tables)	6 Months Ended
	Jul. 01, 2016
Balance Sheet Related Disclosures [Abstract]
Supplemental Balance Sheet Information	Certain amounts included in the Company's balance sheet as of July 1, 2016 and December 31, 2015 consist of the following (dollars in millions): July 1, 2016 December 31, 2015 Receivables, net: Accounts receivable $ 491.4 $ 432.6 Less: Allowance for doubtful accounts (4.0 ) (6.2 ) $ 487.4 $ 426.4 Inventories: Raw materials $ 80.4 $ 79.3 Work in process 460.3 457.8 Finished goods 209.5 213.3 $ 750.2 $ 750.4 Property, plant and equipment, net: Land $ 48.2 $ 46.2 Buildings 526.2 513.6 Machinery and equipment 2,417.5 2,327.5 Total property, plant and equipment 2,991.9 2,887.3 Less: Accumulated depreciation (1,714.7 ) (1,613.2 ) $ 1,277.2 $ 1,274.1 Accrued expenses: Accrued payroll $ 93.8 $ 95.1 Sales related reserves 69.7 69.9 Acquisition consideration payable to seller 19.6 19.6 Other 119.5 61.6 $ 302.6 $ 246.2
Schedule of Product Warranty Liability	Activity related to the Company's warranty reserves for the six months ended July 1, 2016 and July 3, 2015 is as follows (in millions): Six Months Ended July 1, 2016 July 3, 2015 Beginning Balance $ 5.3 $ 5.5 Provision 1.9 0.3 Usage (1.7 ) (0.6 ) Ending Balance $ 5.5 $ 5.2
Schedule of Net Benefit Costs	The components of the Company's net periodic pension expense for the quarters and six months ended July 1, 2016 and July 3, 2015 are as follows (in millions): Quarter Ended Six Months Ended July 1, 2016 July 3, 2015 July 1, 2016 July 3, 2015 Service cost $ 2.3 $ 2.2 $ 4.5 $ 4.4 Interest cost 1.1 1.0 2.2 2.0 Expected return on plan assets (1.0 ) (0.9 ) (2.0 ) (1.8 ) Total net periodic pension cost $ 2.4 $ 2.3 $ 4.7 $ 4.6

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jul. 01, 2016
Debt Disclosure [Abstract]
Long-Term Debt	The Company's long-term debt consists of the following (annualized rates, dollars in millions): July 1, 2016 December 31, 2015 Senior Revolving Credit Facility due 2020 $ — $ — Term Loan "B" Facility due 2023, interest payable monthly at 5.25% 2,200.0 — 1.00% Notes due December 1, 2020 (1) 690.0 690.0 2.625% Notes, Series B (2) 356.9 356.9 Note payable to SMBC due 2016 through 2018, interest payable quarterly at 2.40% and 2.36%, respectively (3) 169.9 198.2 U.S. real estate mortgages payable monthly through 2019 at an average rate of 3.12% and 3.35%, respectively (4) 41.1 50.0 Philippine term loans due 2016 through 2020, interest payable quarterly at 2.63% and 2.32%, respectively (7) 50.0 50.0 Loan with Singapore bank, interest payable weekly at 1.69% and 1.67%, respectively (6)(10) 25.0 30.0 Loan with Hong Kong bank, interest payable weekly at 1.70% and 1.67%, respectively (6)(10) 25.0 25.0 Malaysia revolving line of credit, interest payable quarterly at 2.08% and 2.05%, respectively (7) (10) 25.0 25.0 Vietnam revolving line of credit, interest payable quarterly at an average rate of 2.12% and 1.89%, respectively (7) (10) 13.1 20.8 Loan with Philippine bank due 2016 through 2019, interest payable quarterly at 2.96% and 2.70%, respectively (5) 16.5 18.8 Canada revolving line of credit, interest payable quarterly at 2.27% and 2.01%, respectively (7) (10) 15.0 15.0 Loan with Japanese bank due 2016 through 2020, interest payable quarterly at 1.1% (7) 4.4 4.2 Canada equipment financing payable monthly through 2017 at 3.81% (5) 1.4 2.4 U.S. equipment financing payable monthly through 2016 at 2.40% (5) 0.4 1.3 Capital lease obligations 18.5 28.2 Gross long-term debt, including current maturities 3,652.2 1,515.8 Less: Debt discount (8) (126.6 ) (107.5 ) Less: Debt issuance costs (9) (53.8 ) (14.4 ) Net long-term debt, including current maturities 3,471.8 1,393.9 Less: Current maturities (536.7 ) (543.4 ) Net long-term debt $ 2,935.1 $ 850.5 _______________________ (1) Interest is payable on June 1 and December 1 of each year at 1.00% annually. (2) Interest is payable on June 15 and December 15 of each year at 2.625% annually. 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. The notes can be converted at any time on or after June 15, 2016. (3) This loan represents SCI LLC's non-collateralized loan with SMBC, which is guaranteed by the Company. (4) Debt arrangement collateralized by real estate, including certain of the Company's facilities in California, Oregon and Idaho. (5) Debt collateralized by equipment. (6) Debt arrangement collateralized by accounts receivable. (7) Non-collateralized debt arrangement . (8) Debt discount of $90.9 million and $100.2 million for the 1.00% Notes as of July 1, 2016 and December 31, 2015 , respectively, $3.6 million and $7.3 million for the 2.625% Notes, Series B as of July 1, 2016 and December 31, 2015 , respectively, and $32.1 million and zero for the Term Loan "B" Facility as of July 1, 2016 and December 31, 2015 , respectively. (9) Debt issuance costs of $12.7 million and $13.9 million for the 1.00% Notes as of July 1, 2016 and December 31, 2015 , respectively, $0.3 million and $0.5 million for the 2.625% Notes, Series B as of July 1, 2016 and December 31, 2015 , respectively, and $40.8 million and zero for the Term Loan "B" Facility as of July 1, 2016 and December 31, 2015 , respectively. (10) The Company has historically renewed these arrangements annually.
Annual Maturities Relating To Long-Term Debt	Expected maturities relating to the Company’s long-term debt as of July 1, 2016 are as follows (in millions): Period Expected Maturities Remainder of 2016 $ 492.7 2017 91.3 2018 170.2 2019 69.7 2020 721.8 Thereafter 2,106.5 Total $ 3,652.2

Earnings Per Share and Equity (

Earnings Per Share and Equity (Tables)	6 Months Ended
	Jul. 01, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Calculations of net income per common share attributable to ON Semiconductor are as follows (in millions, except per share data): Quarter Ended Six Months Ended July 1, 2016 July 3, 2015 July 1, 2016 July 3, 2015 Net income attributable to ON Semiconductor Corporation $ 25.1 $ 50.7 $ 61.1 $ 105.8 Basic weighted-average common shares outstanding 414.9 426.9 413.7 429.2 Dilutive effect of share-based awards 2.7 4.5 2.8 5.1 Dilutive effect of Convertible Notes — 4.9 — 3.9 Diluted weighted-average common shares outstanding 417.6 436.3 416.5 438.2 Net income per common share attributable to ON Semiconductor Corporation: Basic $ 0.06 $ 0.12 $ 0.15 $ 0.25 Diluted $ 0.06 $ 0.12 $ 0.15 $ 0.24
Schedule of Share Repurchase Program	Information relating to the Company's share repurchase programs during the quarter and six months ended July 3, 2015 is as follows (in millions, except per share data): Quarter Ended Six Months Ended July 3, 2015 July 3, 2015 Number of repurchased shares (1)(5) 10.4 19.0 Beginning accrued share repurchases (2) $ 2.0 $ — Aggregate purchase price 131.1 228.1 Less: ending accrued share repurchases (3) (3.0 ) (3.0 ) Total cash used for share repurchases $ 130.1 $ 225.1 Weighted-average purchase price per share (4) $ 12.59 $ 11.96 Available for future purchases at period end $ 748.2 $ 748.2 (1) None of these shares had been reissued or retired as of July 1, 2016 , 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 as of the beginning of the period. (3) Represents unpaid amounts recorded in accrued expenses on the Company's Consolidated Balance Sheet as of the end of the period. (4) Exclusive of fees, commissions and other expenses. (5) Includes 5.4 million shares, totaling $70.0 million , repurchased concurrently with the issuance of the 1.00% Notes.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jul. 01, 2016
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 quarters and six months ended July 1, 2016 and July 3, 2015 was comprised as follows (in millions): Quarter Ended Six Months Ended July 1, 2016 July 3, 2015 July 1, 2016 July 3, 2015 Cost of revenues $ 2.1 $ 1.9 $ 4.0 $ 3.8 Research and development 2.9 2.5 5.4 4.8 Selling and marketing 2.5 2.3 4.6 4.5 General and administrative 8.6 7.4 13.7 12.3 Share-based compensation expense before income taxes $ 16.1 $ 14.1 $ 27.7 $ 25.4 Related income tax benefits (1) — — — — Share-based compensation expense, net of taxes $ 16.1 $ 14.1 $ 27.7 $ 25.4 ____________________ (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.
Schedule of Share-based Compensation, Stock Options, Activity	Summarized stock option information for the quarter and six months ended July 1, 2016 is as follows (in millions, except per share and contractual term data): Six Months Ended July 1, 2016 Number of Shares Weighted-Average Exercise Price Per Share Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (In-The-Money) Outstanding at December 31, 2015 5.2 $ 7.85 Granted — — Exercised (0.3 ) 6.70 Canceled — — Outstanding at July 1, 2016 4.9 $ 7.92 1.96 $ 5.5 Exercisable at July 1, 2016 4.6 $ 8.03 1.87 $ 4.8
Additional Information On Stock Options Outstanding	Additional information with respect to stock options outstanding as of July 1, 2016 , with exercise prices less than or above $ 8.78 per share, the closing price of the Company's common stock at July 1, 2016 , is as 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 $8.78 2.8 $ 7.07 0.3 $ 6.28 3.1 $ 7.00 Above $8.78 1.8 $ 9.54 — $ — 1.8 $ 9.54 Total outstanding 4.6 $ 8.03 0.3 $ 6.28 4.9 $ 7.92
Summary Of Restricted Stock Units Transactions	The following table presents summarized information with respect to the Company's restricted stock units as of July 1, 2016 and changes during the six months ended July 1, 2016 (number of shares in millions): Number of Shares Weighted-Average Grant Date Fair Value Non-vested shares underlying restricted stock units at December 31, 2015 8.5 $ 10.52 Granted 5.1 9.04 Released (3.0 ) 9.64 Forfeited (0.1 ) 10.11 Non-vested shares underlying restricted stock units at July 1, 2016 10.5 $ 10.05

Commitments And Contingencies (

Commitments And Contingencies (Tables)	6 Months Ended
	Jul. 01, 2016
Commitments and Contingencies Disclosure [Abstract]
Operating Leases Future Minimum Payments Receivable	The following represents future minimum lease obligations under non-cancelable operating leases as of July 1, 2016 (in millions): Remainder of 2016 $ 11.9 2017 19.3 2018 13.9 2019 10.4 2020 7.6 Thereafter 25.0 Total $ 88.1

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 01, 2016
Fair Value Disclosures [Abstract]
Fair Value Of Assets And Liabilities Measured On Recurring Basis	Summarized information with respect to certain of the Company's financial assets and liabilities measured at fair value on a recurring basis as of July 1, 2016 and December 31, 2015 is as follows (in millions): Fair Value Measurements as of July 1, 2016 Description Balance as of July 1, 2016 Level 1 Level 2 Level 3 Assets: Cash and Cash equivalents: Demand and time deposits $ 17.2 $ 17.2 $ — $ — Liabilities: Contingent consideration (See Note 3) 5.0 — — 5.0 Fair Value Measurements as of December 31, 2015 Description Balance as of December 31, 2015 Level 1 Level 2 Level 3 Assets: Cash and cash equivalents: Demand and time deposits $ 9.5 $ 9.5 $ — $ — Money market funds 33.2 33.2 — — Liabilities: Designated cash flow hedges $ 0.2 $ — $ 0.2 $ — Foreign currency exchange contracts 0.1 — 0.1 — Contingent consideration (See Note 3) 5.0 — — 5.0
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) as of July 1, 2016 and December 31, 2015 are as follows (in millions): July 1, 2016 December 31, 2015 Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt, including current portion Convertible notes $ 939.5 $ 982.7 $ 925.0 $ 1,041.9 Long-term debt $ 2,470.9 $ 2,555.0 $ 386.9 $ 386.6

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jul. 01, 2016
Investments, All Other Investments [Abstract]
Schedule of Net Foreign Exchange Positions	The following summarizes the Company’s net foreign exchange positions in U.S. dollars as of July 1, 2016 and December 31, 2015 (in millions): July 1, 2016 December 31, 2015 Buy (Sell) Notional Amount Buy (Sell) Notional Amount Euro $ (33.5 ) $ 33.5 $ (17.5 ) $ 17.5 Japanese Yen (29.4 ) 29.4 (30.0 ) 30.0 Malaysian Ringgit 8.5 8.5 7.1 7.1 Philippine Peso 17.3 17.3 13.7 13.7 Other Currencies - Buy 11.5 11.5 17.1 17.1 Other Currencies - Sell (7.4 ) 7.4 (4.4 ) 4.4 $ (33.0 ) $ 107.6 $ (14.0 ) $ 89.8

Changes in Accumulated Other 33

Changes in Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jul. 01, 2016
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Amounts comprising the Company's accumulated other comprehensive loss and reclassifications for the six months ended July 1, 2016 are as follows (net of tax of $0 , in millions): Foreign Currency Translation Adjustments Effects of Cash Flow Hedges Total Balance as of December 31, 2015 $ (42.2 ) $ (0.1 ) $ (42.3 ) Other comprehensive income (loss) prior to reclassifications 2.8 0.3 3.1 Amounts reclassified from accumulated other comprehensive loss — (0.2 ) (0.2 ) Net current period other comprehensive income (loss) 2.8 0.1 2.9 Balance as of July 1, 2016 $ (39.4 ) $ — $ (39.4 ) Amounts which were reclassified from accumulated other comprehensive loss to the Company's Consolidated Statements of Operations and Comprehensive Income during the quarter and six months ended July 1, 2016 and July 3, 2015 , respectively, were as follows (net of tax of $0 , in millions): Amounts Reclassified from Accumulated Other Comprehensive Loss Quarter Ended Six Months Ended July 1, 2016 July 3, 2015 July 1, 2016 July 3, 2015 Affected Line Item Where Net Income is Presented Effects of cash flow hedges $ — $ (1.6 ) $ 0.2 $ (3.4 ) Cost of revenues Gains and Losses on Available-for-Sale Securities — — — (3.4 ) Other income and expense Total reclassifications $ — $ (1.6 ) $ 0.2 $ (6.8 )

Supplemental Disclosures (Table

Supplemental Disclosures (Tables)	6 Months Ended
	Jul. 01, 2016
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Certain of the Company's non-cash activities along with cash payments for interest and income taxes are as follows (in millions): Six Months Ended July 1, 2016 July 3, 2015 Non-cash activities: Term Loan "B" Facility proceeds deposited directly to escrow account $ 2,167.0 $ — Debt issuance costs in accrued expenses $ 46.1 $ — Capital expenditures in accounts payable and other liabilities $ 73.4 $ 91.1 Equipment acquired or refinanced through capital leases $ — $ 1.5 Cash (received) paid for: Interest income $ (2.4 ) $ (0.6 ) Interest expense $ 32.2 $ 14.4 Income taxes $ 12.6 $ 11.3

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jul. 01, 2016
Segment Reporting [Abstract]
Segment Information of Revenues, Gross Profit and Operating Income	Revenues and gross profit for the Company’s reportable segments for the quarters and six months ended July 1, 2016 and July 3, 2015 are as follows (in millions): Application Products Group Image Sensor Group Standard Products Group System Solutions Group Total For the quarter ended July 1, 2016: Revenues from external customers $ 272.6 $ 172.8 $ 309.8 $ 122.6 $ 877.8 Segment gross profit $ 125.7 $ 57.4 $ 111.6 $ 24.8 $ 319.5 For the quarter ended July 3, 2015: Revenues from external customers $ 263.5 $ 173.2 $ 307.8 $ 136.0 $ 880.5 Segment gross profit $ 120.0 $ 53.2 $ 107.0 $ 28.2 $ 308.4 For the six months ended July 1, 2016: Revenues from external customers $ 523.1 $ 341.0 $ 594.7 $ 236.2 $ 1,695.0 Segment gross profit $ 229.5 $ 118.5 $ 211.2 $ 43.0 $ 602.2 For the six months ended July 3, 2015: Revenues from external customers $ 527.8 $ 343.7 $ 611.0 $ 268.8 $ 1,751.3 Segment gross profit $ 237.3 $ 102.7 $ 219.1 $ 53.4 $ 612.5
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Gross profit shown above and below is exclusive of the amortization of acquisition-related intangible assets. Depreciation expense is included in segment gross profit. Reconciliations of segment gross profit to consolidated gross profit are as follows (in millions): Quarter Ended Six Months Ended July 1, 2016 July 3, 2015 July 1, 2016 July 3, 2015 Gross profit for reportable segments $ 319.5 $ 308.4 $ 602.2 $ 612.5 Less: unallocated manufacturing costs (1) (11.6 ) (4.0 ) (18.8 ) (7.7 ) Consolidated Gross profit $ 307.9 $ 304.4 $ 583.4 $ 604.8 _______________________ (1) During the third quarter of 2015, the Company began allocating certain manufacturing costs to its segments that were previously included as unallocated manufacturing costs. Comparative information has been recast to conform with the current period presentation.
Revenues by Geographic Location Including Local Sales and Exports	Revenues by geographic location, including local sales made by operations within each area, based on sales billed from the respective country, are summarized as follows (in millions): Quarter Ended Six Months Ended July 1, 2016 July 3, 2015 July 1, 2016 July 3, 2015 United States $ 139.6 $ 140.8 $ 280.5 $ 272.6 Japan 81.5 64.8 165.8 127.4 Hong Kong 217.1 224.0 395.1 415.2 Singapore 256.0 294.6 502.4 610.9 United Kingdom 141.0 119.2 275.1 248.9 Other 42.6 37.1 76.1 76.3 $ 877.8 $ 880.5 $ 1,695.0 $ 1,751.3
Summary of Property, Plant and Equipment by Geographic Location	Property, plant and equipment, net by geographic location, is summarized as follows (in millions): July 1, 2016 December 31, United States $ 336.3 $ 326.2 Czech Republic 97.9 102.9 Malaysia 220.8 226.5 Philippines 250.5 259.1 China 102.7 111.0 Other 269.0 248.4 $ 1,277.2 $ 1,274.1

Background and Basis of Prese36

Background and Basis of Presentation (Narrative) (Details) - segment	3 Months Ended		6 Months Ended
	Jul. 01, 2016	Jul. 03, 2015	Jul. 01, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal quarter, number of days	183 days	184 days
Number of operating segments			4
Number of reporting segments			4

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - USD ($) $ in Millions	Nov. 18, 2015	Jul. 15, 2015	Jul. 01, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Acquisition consideration payable to seller			$ 19.6	$ 19.6
Fairchild
Business Acquisition [Line Items]
Purchase price	$ 2,400
AXSEM
Business Acquisition [Line Items]
Purchase price		$ 8
Percentage acquired		100.00%
Acquisition consideration payable to seller		$ 5	5
Consideration placed in escrow			$ 0.8
Acquired net assets		$ 13

Goodwill and Intangible Asset38

Goodwill and Intangible Assets (Summary of Changes in Goodwill) (Details) - USD ($) $ in Millions	Jul. 01, 2016	Dec. 31, 2015
Goodwill
Goodwill	$ 718.1	$ 718.1
Accumulated Impairment Losses	(447.5)	(447.5)
Carrying Value	270.6	270.6
Operating Segments | Application Products Group
Goodwill
Goodwill	546.7	546.7
Accumulated Impairment Losses	(418.9)	(418.9)
Carrying Value	127.8	127.8
Operating Segments | Image Sensor Group
Goodwill
Goodwill	95.4	95.4
Accumulated Impairment Losses	0	0
Carrying Value	95.4	95.4
Operating Segments | Standard Products Group
Goodwill
Goodwill	76	76
Accumulated Impairment Losses	(28.6)	(28.6)
Carrying Value	$ 47.4	$ 47.4

Goodwill and Intangible Asset39

Goodwill and Intangible Assets (Summary of Intangible Assets, Net) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Jul. 01, 2016	Jul. 01, 2016	Dec. 31, 2015
Intangible Assets, Net
Original Cost	$ 809.8	$ 809.8	$ 809.8
Accumulated Amortization	(458)	(458)	(410.8)
Foreign Currency Translation Adjustment		(27.5)	(27.9)
Accumulated Impairment Losses		(47.5)	(45.3)
Carrying Value	276.8	276.8	325.8
Intellectual property
Intangible Assets, Net
Original Cost	13.9	13.9	13.9
Accumulated Amortization	(10.9)	(10.9)	(10.6)
Foreign Currency Translation Adjustment		0	0
Accumulated Impairment Losses		(0.4)	(0.4)
Carrying Value	2.6	2.6	2.9
Customer relationships
Intangible Assets, Net
Original Cost	426.2	426.2	426.2
Accumulated Amortization	(237.9)	(237.9)	(214.2)
Foreign Currency Translation Adjustment		(27.5)	(27.9)
Accumulated Impairment Losses		(23.7)	(23.7)
Carrying Value	137.1	137.1	160.4
Patents
Intangible Assets, Net
Original Cost	43.7	43.7	43.7
Accumulated Amortization	(24.8)	(24.8)	(23.6)
Foreign Currency Translation Adjustment		0	0
Accumulated Impairment Losses		(13.7)	(13.7)
Carrying Value	5.2	5.2	6.4
Developed technology
Intangible Assets, Net
Original Cost	269.9	269.9	268
Accumulated Amortization	(173.8)	(173.8)	(152.2)
Foreign Currency Translation Adjustment		0	0
Accumulated Impairment Losses		(2.6)	(2.6)
Carrying Value	93.5	93.5	113.2
Trademarks
Intangible Assets, Net
Original Cost	16.3	16.3	16.3
Accumulated Amortization	(10.3)	(10.3)	(9.9)
Foreign Currency Translation Adjustment		0	0
Accumulated Impairment Losses		(1.1)	(1.1)
Carrying Value	4.9	4.9	5.3
Backlog
Intangible Assets, Net
Original Cost	0.3	0.3	0.3
Accumulated Amortization	(0.3)	(0.3)	(0.3)
Foreign Currency Translation Adjustment		0	0
Accumulated Impairment Losses		0	0
Carrying Value	0	0	0
IPRD
Intangible Assets, Net
Original Cost	39.5	39.5	41.4
Accumulated Amortization	0	0	0
Foreign Currency Translation Adjustment		0	0
Accumulated Impairment Losses	(2.2)	(6)	(3.8)
Carrying Value	$ 33.5	$ 33.5	$ 37.6

Goodwill and Intangible Asset40

Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 01, 2016	Jul. 03, 2015	Jul. 01, 2016	Jul. 03, 2015	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Impairment loss			$ 47.5		$ 45.3
Amortization of acquisition-related intangible assets	$ 23.5	$ 33.6	47.2	$ 67.5
Intangible assets, net	276.8		276.8		325.8
IPRD
Finite-Lived Intangible Assets [Line Items]
IPRD projects reclassified to developed technology	0.5		1.9
Impairment loss	2.2		6		3.8
Intangible assets, net	$ 33.5		$ 33.5		$ 37.6

Goodwill and Intangible Asset41

Goodwill and Intangible Assets (Summary of Amortization Expense) (Details) $ in Millions	Jul. 01, 2016USD ($)
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule
Remainder of 2016	$ 44.6
2,017	63.1
2,018	41.6
2,019	34.2
2,020	22.4
Thereafter	37.4
Total estimated amortization expense	$ 243.3

Restructuring, Asset Impairme42

Restructuring, Asset Impairments and Other, Net (Schedule of Activity Included in Restructuring, Asset Impairments, and Other, Net) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 01, 2016	Jul. 01, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 5.2	$ 6.9
Workforce reduction | System Solutions Group voluntary workforce reduction
Restructuring Cost and Reserve [Line Items]
Restructuring	4.4	5.2
Workforce reduction | General workforce reductions
Restructuring Cost and Reserve [Line Items]
Restructuring		0.3
Employee severance | Manufacturing relocation
Restructuring Cost and Reserve [Line Items]
Restructuring	0.9	1.2
Other
Restructuring Cost and Reserve [Line Items]
Restructuring	$ (0.1)	$ 0.2

Restructuring, Asset Impairme43

Restructuring, Asset Impairments and Other, Net (Rollforward of Accrued Restructuring Charges) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 01, 2016	Jul. 01, 2016
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period		$ 5.8
Charges	$ 5.2	6.9
Usage		(5.5)
Balance at End of Period	7.2	7.2
Estimated employee separation charges
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period		5.3
Charges		6.7
Usage		(5.3)
Balance at End of Period	6.7	6.7
Estimated costs to exit
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period		0.5
Charges		0.2
Usage		(0.2)
Balance at End of Period	$ 0.5	$ 0.5

Restructuring, Asset Impairme44

Restructuring, Asset Impairments and Other, Net (Narrative) (Details) $ in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	Mar. 31, 2016employee	Jan. 31, 2015employee	Jul. 01, 2016USD ($)	Apr. 01, 2016USD ($)	Jul. 01, 2016USD ($)employee	Dec. 31, 2015USD ($)
Restructuring Cost and Reserve [Line Items]
Accrued liabilities			$ 7.2		$ 7.2	$ 5.8
Payments for restructuring					5.5
Systems Solutions Group Voluntary Workforce Reduction | Workforce reduction
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated voluntarily | employee	75
Total charges expected to incur			5.3		5.3
Restructuring Charges			4.4
Accrued liabilities			4.1		4.1
Payments for restructuring			1.1
Manufacturing Relocation | Employee severance
Restructuring Cost and Reserve [Line Items]
Total charges expected to incur			5.7		5.7
Restructuring Charges			0.9
Accrued liabilities			1.2		$ 1.2
Expected reduction in employment levels | employee					160
General workforce reductions | Workforce reduction
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated | employee					150
Restructuring Charges				$ 0.3	$ 5.1
Accrued liabilities				$ 0
European marketing organization relocation | Employee severance
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated | employee		6
Restructuring Charges			0.9		3.5
Accrued liabilities			$ 0.5		$ 0.5

Balance Sheet Information (Sche

Balance Sheet Information (Schedule of Balance Sheet Information) (Details) - USD ($) $ in Millions	Jul. 01, 2016	Dec. 31, 2015
Receivables, net:
Accounts receivable	$ 491.4	$ 432.6
Less: Allowance for doubtful accounts	(4)	(6.2)
Receivables, net	487.4	426.4
Inventories:
Raw materials	80.4	79.3
Work in process	460.3	457.8
Finished goods	209.5	213.3
Inventories	750.2	750.4
Property, plant and equipment, net:
Land	48.2	46.2
Buildings	526.2	513.6
Machinery and equipment	2,417.5	2,327.5
Total property, plant and equipment	2,991.9	2,887.3
Less: Accumulated depreciation	(1,714.7)	(1,613.2)
Property, plant and equipment, net	1,277.2	1,274.1
Accrued expenses:
Accrued payroll	93.8	95.1
Sales related reserves	69.7	69.9
Acquisition consideration payable to seller	19.6	19.6
Other	119.5	61.6
Accrued expenses	$ 302.6	$ 246.2

Balance Sheet Information (Warr

Balance Sheet Information (Warranty Reserves) (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 01, 2016	Jul. 03, 2015
Warranty Reserves
Beginning Balance	$ 5.3	$ 5.5
Provision	1.9	0.3
Usage	(1.7)	(0.6)
Ending Balance	$ 5.5	$ 5.2

Balance Sheet Information (Narr

Balance Sheet Information (Narrative) (Details) - USD ($) $ in Millions	Jul. 01, 2016	Dec. 31, 2015
Balance Sheet Related Disclosures [Abstract]
Accrued pension liability	$ 98.2	$ 87.2
Current portion accrued pension liability	$ 0.1	$ 0.1

Balance Sheet Information (Peri

Balance Sheet Information (Periodic Pension Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2016	Jul. 03, 2015	Jul. 01, 2016	Jul. 03, 2015
Balance Sheet Related Disclosures [Abstract]
Service cost	$ 2.3	$ 2.2	$ 4.5	$ 4.4
Interest cost	1.1	1	2.2	2
Expected return on plan assets	(1)	(0.9)	(2)	(1.8)
Total net periodic pension cost	$ 2.4	$ 2.3	$ 4.7	$ 4.6

Long-Term Debt (Long-Term Debt)

Long-Term Debt (Long-Term Debt) (Details) - USD ($)	Jul. 01, 2016	Dec. 31, 2015	Jul. 03, 2015
Debt Instrument [Line Items]
Long-term debt	$ 3,652,200,000	$ 1,515,800,000
Capital lease obligations	152,300,000
Debt discount	(126,600,000)	(107,500,000)
Debt issuance costs	(53,800,000)	(14,400,000)
Net long-term debt, including current maturities	3,471,800,000	1,393,900,000
Less: Current maturities	(536,700,000)	(543,400,000)
Net long-term debt	$ 2,935,100,000	850,500,000
1.00% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)	1.00%
Senior Revolving Credit Facility due 2020
Debt Instrument [Line Items]
Long-term debt	$ 0	0
Term Loan B Facility due 2023, interest payable monthly at 5.25%
Debt Instrument [Line Items]
Long-term debt	2,200,000,000	0
Debt discount	(32,100,000)	0
Debt issuance costs	$ (40,800,000)	$ 0
Debt instrument, interest rate (as a percent)	5.25%	0.00%
1.00% Notes due December 1, 2020 | 1.00% Notes
Debt Instrument [Line Items]
Long-term debt	$ 690,000,000	$ 690,000,000
Debt discount	(90,900,000)	(100,200,000)
Debt issuance costs	$ (12,700,000)	$ (13,900,000)
Debt instrument, interest rate (as a percent)	1.00%	1.00%	1.00%
2.625% Notes, Series B
Debt Instrument [Line Items]
Long-term debt	$ 356,900,000	$ 356,900,000
Debt discount	(3,600,000)	(7,300,000)
Debt issuance costs	$ (300,000)	$ (500,000)
Debt instrument, interest rate (as a percent)	2.625%	2.625%
Note payable to SMBC due 2016 through 2018, interest payable quarterly at 2.40% and 2.36%, respectively
Debt Instrument [Line Items]
Long-term debt	$ 169,900,000	$ 198,200,000
Debt instrument, interest rate (as a percent)	2.40%	2.36%
U.S. real estate mortgages payable monthly through 2019 at an average rate of 3.12% and 3.35%, respectively
Debt Instrument [Line Items]
Long-term debt	$ 41,100,000	$ 50,000,000
Debt instrument, interest rate (as a percent)	3.12%	3.35%
Philippine term loans due 2016 through 2020, interest payable quarterly at 2.63% and 2.32%, respectively
Debt Instrument [Line Items]
Long-term debt	$ 50,000,000	$ 50,000,000
Debt instrument, interest rate (as a percent)	2.63%	2.32%
Loan with Singapore bank, interest payable weekly at 1.69% and 1.67%, respectively
Debt Instrument [Line Items]
Long-term debt	$ 25,000,000	$ 30,000,000
Debt instrument, interest rate (as a percent)	1.69%	1.67%
Loan with Hong Kong bank, interest payable weekly at 1.70% and 1.67%, respectively
Debt Instrument [Line Items]
Long-term debt	$ 25,000,000	$ 25,000,000
Debt instrument, interest rate (as a percent)	1.70%	1.67%
Malaysia revolving line of credit, interest payable quarterly at 2.08% and 2.05%, respectively
Debt Instrument [Line Items]
Long-term debt	$ 25,000,000	$ 25,000,000
Debt instrument, interest rate (as a percent)	2.08%	2.05%
Vietnam revolving line of credit, interest payable quarterly at an average rate of 2.12% and 1.89%, respectively
Debt Instrument [Line Items]
Long-term debt	$ 13,100,000	$ 20,800,000
Debt instrument, interest rate (as a percent)	2.12%	1.89%
Loan with Philippine bank due 2016 through 2019, interest payable quarterly at 2.96% and 2.70%, respectively
Debt Instrument [Line Items]
Long-term debt	$ 16,500,000	$ 18,800,000
Debt instrument, interest rate (as a percent)	2.96%	2.70%
Canada revolving line of credit, interest payable quarterly at 2.27% and 2.01%, respectively
Debt Instrument [Line Items]
Long-term debt	$ 15,000,000	$ 15,000,000
Debt instrument, interest rate (as a percent)	2.27%	2.01%
Loan with Japanese bank due 2016 through 2020, interest payable quarterly at 1.1%
Debt Instrument [Line Items]
Long-term debt	$ 4,400,000	$ 4,200,000
Debt instrument, interest rate (as a percent)	1.10%	1.10%
Canada equipment financing payable monthly through 2017 at 3.81%
Debt Instrument [Line Items]
Long-term debt	$ 1,400,000	$ 2,400,000
Debt instrument, interest rate (as a percent)	3.81%	3.81%
U.S. equipment financing payable monthly through 2016 at 2.40%
Debt Instrument [Line Items]
Long-term debt	$ 400,000	$ 1,300,000
Debt instrument, interest rate (as a percent)	2.40%	2.40%
Capital lease obligations
Debt Instrument [Line Items]
Capital lease obligations	$ 18,500,000	$ 28,200,000

Long-Term Debt (Annual Maturiti

Long-Term Debt (Annual Maturities Relating To Long-Term Debt) (Details) - USD ($) $ in Millions	Jul. 01, 2016	Dec. 31, 2015
Long-term Debt, Fiscal Year Maturity [Abstract]
Remainder of 2016	$ 492.7
2,017	91.3
2,018	170.2
2,019	69.7
2,020	721.8
Thereafter	2,106.5
Total	$ 3,652.2	$ 1,515.8

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($)	Apr. 15, 2016	Jul. 01, 2016	Jul. 03, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Amount funded by the company		$ 67,700,000	$ 0
2.625% Notes, Series B
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)		2.625%		2.625%
Term Loan B Facility due 2023, interest payable monthly at 5.25%
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)		5.25%		0.00%
Underwriting fees		$ 41,900,000
Term Loan B Facility due 2023, interest payable monthly at 5.25% | Deutsche Bank AG, New York Branch
Debt Instrument [Line Items]
Principal amounts of debt	$ 2,200,000,000	$ 2,200,000,000
Amount funded by the company	$ (67,700,000)
Original issuance discount, percentage	1.50%
Original issuance discount	$ 33,000,000
Eurocurrency Loans | Term Loan B Facility due 2023, interest payable monthly at 5.25%
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)		5.25%
Eurocurrency Loans | LIBOR | Term Loan B Facility due 2023, interest payable monthly at 5.25%
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)		4.50%
Adjustable Rate Loans | LIBOR | Term Loan B Facility due 2023, interest payable monthly at 5.25%
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)		3.50%
Adjustable Rate Loans | Federal Funds Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)		0.50%
Adjustable Rate Loans | Adjusted LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)		1.00%
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Underwriting fees		$ 7,300,000
Revolving Credit Facility | Line of Credit | Deutsche Bank AG, New York Branch
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 600,000,000
Revolving Credit Facility | Eurocurrency Loans | LIBOR | Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)		4.00%
Revolving Credit Facility | Adjustable Rate Loans | LIBOR | Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)		3.00%

Earnings Per Share and Equity52

Earnings Per Share and Equity (Income per Share Calculations) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2016	Jul. 03, 2015	Jul. 01, 2016	Jul. 03, 2015
Earnings Per Share [Abstract]
Net income attributable to ON Semiconductor Corporation	$ 25.1	$ 50.7	$ 61.1	$ 105.8
Basic weighted average common shares outstanding (in shares)	414.9	426.9	413.7	429.2
Dilutive effect of share-based awards (in shares)	2.7	4.5	2.8	5.1
Dilutive effect of Convertible Notes (in shares)	0	4.9	0	3.9
Diluted weighted average common shares outstanding (in shares)	417.6	436.3	416.5	438.2
Net income per common share attributable to ON Semiconductor Corporation:
Basic (in dollars per share)	$ 0.06	$ 0.12	$ 0.15	$ 0.25
Diluted (in dollars per share)	$ 0.06	$ 0.12	$ 0.15	$ 0.24

Earnings Per Share and Equity53

Earnings Per Share and Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2016	Jul. 03, 2015	Jul. 01, 2016	Jul. 03, 2015	Dec. 31, 2015	Dec. 31, 2014
Dividends Payable [Line Items]
Anti-dilutive shares	1,700,000	1,200,000	3,300,000	1,100,000
Number of repurchased shares (in shares)	0	10,400,000	0	19,000,000
Payments of tax withholding for restricted shares	$ 0.2	$ 0.2	$ 8.2	$ 11.4
Common stock withheld underlying restricted stock units (less than)	100,000	100,000	900,000	900,000
Treasury stock, shares, reissued or retired during period			0
Non-Controlling interest in consolidated subsidiary	$ 24.8	$ 22.3	$ 24.8	$ 22.3	$ 23.7	$ 20.9
Net income attributable to non-controlling interest	$ 0.7	$ 0.7	$ 1.1	$ 1.4
1.00% Notes
Dividends Payable [Line Items]
Debt instrument, interest rate (as a percent)	1.00%		1.00%
2.625% Notes, Series B
Dividends Payable [Line Items]
Debt instrument, interest rate (as a percent)	2.625%		2.625%		2.625%
Convertible Debt | 1.00% Notes
Dividends Payable [Line Items]
Debt instrument, interest rate (as a percent)	1.00%	1.00%	1.00%	1.00%	1.00%
Average price of common stock to exceed to include effect of additional potential shares			$ 25.96
Number of repurchased shares (in shares)				5,400,000
Convertible Debt | 1.00% Notes | Embedded Derivative Financial Instruments
Dividends Payable [Line Items]
Conversion price per share (in dollars per share)	$ 18.5		$ 18.5

Earnings Per Share and Equity54

Earnings Per Share and Equity (Summary of Share Repurchase Program) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2016	Jul. 03, 2015	Jul. 01, 2016	Jul. 03, 2015	Dec. 31, 2015
Equity, Class of Treasury Stock [Line Items]
Number of repurchased shares (in shares)	0	10.4	0	19
Beginning accrued share repurchases		$ 2		$ 0
Aggregate purchase price		131.1		228.1
Less: ending accrued share repurchases		(3)		(3)
Total cash used for share repurchases		$ 130.1		$ 225.1
Weighted-average purchase price per share (in dollars per share)		$ 12.59		$ 11.96
Available for future purchases at period end		$ 748.2		$ 748.2
1.00% Notes
Equity, Class of Treasury Stock [Line Items]
Debt instrument, interest rate (as a percent)	1.00%		1.00%
Convertible Debt | 1.00% Notes
Equity, Class of Treasury Stock [Line Items]
Number of repurchased shares (in shares)				5.4
Share repurchased value				$ 70
Debt instrument, interest rate (as a percent)	1.00%	1.00%	1.00%	1.00%	1.00%

Share-Based Compensation (Summa

Share-Based Compensation (Summary Of Share-Based Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2016	Jul. 03, 2015	Jul. 01, 2016	Jul. 03, 2015
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense before income taxes	$ 16.1	$ 14.1	$ 27.7	$ 25.4
Related income tax benefits	0	0	0	0
Share-based compensation expense, net of taxes	16.1	14.1	27.7	25.4
Cost of revenues
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense before income taxes	2.1	1.9	4	3.8
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense before income taxes	2.9	2.5	5.4	4.8
Selling and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense before income taxes	2.5	2.3	4.6	4.5
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense before income taxes	$ 8.6	$ 7.4	$ 13.7	$ 12.3

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2016	Jul. 03, 2015	Jul. 01, 2016	Jul. 03, 2015	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash received from exercise of stock options			$ 2.2	$ 23.7
Amended And Restated Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate of common stock available for grant	20.6		20.6		28.7
Employee Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense on non-vested stock options	$ 0.2		$ 0.2
Stock option, weighted average period for recognition			4 years
Total Intrinsic value of stock options exercised	0.3		$ 0.8
Cash received from exercise of stock options	$ 0.6		2.2
Options pre-vesting forfeitures estimated	11.00%	11.00%
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense on non-vested stock options	$ 73.6		$ 73.6
Stock option, weighted average period for recognition			2 years 1 month
Options pre-vesting forfeitures estimated	5.00%	5.00%
Maximum Award Vesting Period (in years)			3 years
Equity awards granted in period (in shares)			5.1
Weighted Average Grant Date Fair Value, Granted (in dollars per share)			$ 9.04
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate of common stock available for grant	5.8		5.8		6.7
Restricted Stock | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards granted in period (in shares)	0.2		0.2
Weighted Average Grant Date Fair Value, Granted (in dollars per share)	$ 9.81		$ 9.81

Share-Based Compensation (Sum57

Share-Based Compensation (Summary Of Stock Option Plans) (Details) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jul. 01, 2016USD ($)$ / sharesshares
Number of Shares
Number of Shares, Outstanding Beginning (in shares) | shares	5.2
Number of Shares, Granted (in shares) | shares	0
Number of Shares, Exercised (in shares) | shares	(0.3)
Number of Shares, Canceled (in shares) | shares	0
Number of Shares, Outstanding Ending (in shares) | shares	4.9
Number of Shares, Exercisable (in shares) | shares	4.6
Weighted-Average Exercise Price Per Share
Weighted-Average Exercise Price, Outstanding Beginning (in dollars per share) | $ / shares	$ 7.85
Weighted-Average Exercise Price. Granted (in dollars per share) | $ / shares	0
Weighted-Average Exercise Price, Exercised (in dollars per share) | $ / shares	6.70
Weighted-Average Exercise Price, Canceled (in dollars per share) | $ / shares	0
Weighted-Average Exercise Price, Outstanding Ending (in dollars per share) | $ / shares	7.92
Weighted-Average Exercise Price, Exercisable (in dollars per share) | $ / shares	$ 8.03
Weighted Average Remaining Contractual Term (in years), Outstanding	1 year 11 months 16 days
Weighted-Average Remaining Contractual Term (in years), Exercisable	1 year 10 months 13 days
Aggregate Intrinsic Value (In-The-Money), Outstanding | $	$ 5.5
Aggregate Intrinsic Value (In-The-Money), Exercisable | $	$ 4.8

Share-Based Compensation (Addit

Share-Based Compensation (Additional Information On Stock Options Outstanding) (Details) shares in Millions	6 Months Ended
	Jul. 01, 2016$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share price (in dollars per share)	$ 8.78
Number of Shares, Exercisable (in shares) | shares	4.6
Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 8.03
Number of Shares, Unexercisable (in shares) | shares	0.3
Weighted Average Exercise Price, Unexercisable (in dollars per share)	$ 6.28
Number of Shares, Total (in shares) | shares	4.9
Weighted Average Exercise Price, Total (in dollars per share)	$ 7.92
Less than $8.78
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, upper range limit (in dollars per share)	$ 8.78
Number of Shares, Exercisable (in shares) | shares	2.8
Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 7.07
Number of Shares, Unexercisable (in shares) | shares	0.3
Weighted Average Exercise Price, Unexercisable (in dollars per share)	$ 6.28
Number of Shares, Total (in shares) | shares	3.1
Weighted Average Exercise Price, Total (in dollars per share)	$ 7
$8.78
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise rice range, lower range limit (in dollars per share)	$ 8.78
Number of Shares, Exercisable (in shares) | shares	1.8
Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 9.54
Number of Shares, Unexercisable (in shares) | shares	0
Weighted Average Exercise Price, Unexercisable (in dollars per share)	$ 0
Number of Shares, Total (in shares) | shares	1.8
Weighted Average Exercise Price, Total (in dollars per share)	$ 9.54

Share-Based Compensation (Sum59

Share-Based Compensation (Summary Of Restricted Stock Units Transactions) (Details) - Restricted Stock Units shares in Millions	6 Months Ended
	Jul. 01, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested shares underlying restricted stock units, beginning (in shares) | shares	8.5
Number of Shares, Granted (in shares) | shares	5.1
Number of Shares, Released (in shares) | shares	(3)
Number of Shares, Forfeited (in shares) | shares	(0.1)
Nonvested shares underlying restricted stock units, ending (in shares) | shares	10.5
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted Average Grant Date Fair Value, Nonvested, beginning (in dollars per share) | $ / shares	$ 10.52
Weighted Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	9.04
Weighted-Average Grant Date Fair Value, Released (in dollars per share) | $ / shares	9.64
Weighted Average Grant Date Fair Value, Forfeited (in dollars per share) | $ / shares	10.11
Weighted Average Grant Date Fair Value, Nonvested, ending (in dollars per share) | $ / shares	$ 10.05

Commitments And Contingencies60

Commitments And Contingencies (Operating Leases Future Minimum Payments Receivable) (Details) $ in Millions	Jul. 01, 2016USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Remainder of 2016	$ 11.9
2,017	19.3
2,018	13.9
2,019	10.4
2,020	7.6
Thereafter	25
Total	$ 88.1

Commitments And Contingencies61

Commitments And Contingencies (Narrative) (Details) - USD ($)	Jul. 01, 2016	Dec. 31, 2015
Loss Contingencies [Line Items]
Outstanding guarantees and letters of credit	$ 5,300,000
Guarantees related to capital lease obligations	152,300,000
Long-term debt	3,652,200,000	$ 1,515,800,000
Revolving Credit Facility | Line of Credit
Loss Contingencies [Line Items]
Line of credit, current borrowing capacity	15,000,000
Letter of Credit | Line of Credit
Loss Contingencies [Line Items]
Credit commitment outstanding	$ 0

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value of Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($) $ in Millions	Jul. 01, 2016	Dec. 31, 2015
Liabilities
Contingent consideration (See Note 3)	$ 19.6	$ 19.6
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Liabilities
Foreign currency exchange contracts/Designated cash flow hedges		0
Contingent consideration (See Note 3)	0	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Designated cash flow hedges
Liabilities
Foreign currency exchange contracts/Designated cash flow hedges		0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Demand and time deposits
Assets
Cash and cash equivalents	17.2	9.5
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Money market funds
Assets
Cash and cash equivalents		33.2
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Liabilities
Foreign currency exchange contracts/Designated cash flow hedges		0.1
Contingent consideration (See Note 3)	0	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Designated cash flow hedges
Liabilities
Foreign currency exchange contracts/Designated cash flow hedges		0.2
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Demand and time deposits
Assets
Cash and cash equivalents	0	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Money market funds
Assets
Cash and cash equivalents		0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Liabilities
Foreign currency exchange contracts/Designated cash flow hedges		0
Contingent consideration (See Note 3)	5	5
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Designated cash flow hedges
Liabilities
Foreign currency exchange contracts/Designated cash flow hedges		0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Demand and time deposits
Assets
Cash and cash equivalents	0	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Money market funds
Assets
Cash and cash equivalents		0
Fair Value, Measurements, Recurring | Estimate of Fair Value
Liabilities
Foreign currency exchange contracts/Designated cash flow hedges		0.1
Contingent consideration (See Note 3)	5	5
Fair Value, Measurements, Recurring | Estimate of Fair Value | Designated cash flow hedges
Liabilities
Foreign currency exchange contracts/Designated cash flow hedges		0.2
Fair Value, Measurements, Recurring | Estimate of Fair Value | Demand and time deposits
Assets
Cash and cash equivalents	$ 17.2	9.5
Fair Value, Measurements, Recurring | Estimate of Fair Value | Money market funds
Assets
Cash and cash equivalents		$ 33.2

Fair Value Measurements (Carryi

Fair Value Measurements (Carrying Amounts and Fair Values of Long-Term Borrowings) (Details) - USD ($) $ in Millions	Jul. 01, 2016	Dec. 31, 2015
Convertible notes
Carrying Amount	$ 939.5	$ 925
Fair Value	982.7	1,041.9
Long-term debt
Carrying Amount	2,470.9	386.9
Fair Value	$ 2,555	$ 386.6

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	Jul. 01, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Cost method Investments, fair value	$ 13.1	$ 12.3
1.00% Notes
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)	1.00%
2.625% Notes, Series B
Debt Instrument [Line Items]
Debt instrument, interest rate (as a percent)	2.625%	2.625%

Financial Instruments (Narrativ

Financial Instruments (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 01, 2016	Jul. 03, 2015	Jul. 01, 2016	Jul. 03, 2015	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Foreign currency transaction gain (loss), realized	$ (1,800,000)	$ (100,000)	$ (3,300,000)	$ 0
Effects of cash flow hedges	0	(1,500,000)	(100,000)	(1,300,000)
Cash Flow Hedging | Reclassification out of Accumulated Other Comprehensive Income | Cost of revenues | Effects of Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Effects of cash flow hedges	0	$ 1,600,000	200,000	$ 3,400,000
Foreign currency exchange contracts
Derivatives, Fair Value [Line Items]
Notional amount	$ 107,600,000		$ 107,600,000		$ 89,800,000
Foreign currency exchange contracts | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Derivative, term of contract (in months)			12 months
Foreign currency exchange contracts | Minimum
Derivatives, Fair Value [Line Items]
Derivative, term of contract (in months)			1 month
Foreign currency exchange contracts | Maximum
Derivatives, Fair Value [Line Items]
Derivative, term of contract (in months)			3 months

Financial Instruments (Schedule

Financial Instruments (Schedule Of Net Foreign Exchange Positions) (Details) - Foreign currency exchange contracts - USD ($) $ in Millions	Jul. 01, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Buy (Sell)	$ (33)	$ (14)
Notional Amount	107.6	89.8
Other Currencies - Buy
Derivatives, Fair Value [Line Items]
Buy (Sell)	11.5	17.1
Notional Amount	11.5	17.1
Other Currencies - Sell
Derivatives, Fair Value [Line Items]
Buy (Sell)	(7.4)	(4.4)
Notional Amount	7.4	4.4
Euro
Derivatives, Fair Value [Line Items]
Buy (Sell)	(33.5)	(17.5)
Notional Amount	33.5	17.5
Japanese Yen
Derivatives, Fair Value [Line Items]
Buy (Sell)	(29.4)	(30)
Notional Amount	29.4	30
Malaysian Ringgit
Derivatives, Fair Value [Line Items]
Buy (Sell)	8.5	7.1
Notional Amount	8.5	7.1
Philippine Peso
Derivatives, Fair Value [Line Items]
Buy (Sell)	17.3	13.7
Notional Amount	$ 17.3	$ 13.7

Changes in Accumulated Other 67

Changes in Accumulated Other Comprehensive Loss (Narrative) (Details) - USD ($) $ in Millions	Jul. 01, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ 39.4	$ 42.3
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	39.4	$ 42.2
Foreign Currency Translation Adjustments | Subsidiaries
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ 9.3

Changes in Accumulated Other 68

Changes in Accumulated Other Comprehensive Loss (Components of Other Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2016	Jul. 03, 2015	Jul. 01, 2016	Jul. 03, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income tax	$ 7.6	$ 7.7	$ 12.9	$ 15.1
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning			(42.3)
Other comprehensive income (loss) prior to reclassifications			3.1
Amounts reclassified from accumulated other comprehensive loss			(0.2)
Other comprehensive (loss) income, net of tax of $0.0 million	1.9	$ 2.2	2.9	$ (2.1)
Balance, ending	(39.4)		(39.4)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning			(42.2)
Other comprehensive income (loss) prior to reclassifications			2.8
Amounts reclassified from accumulated other comprehensive loss			0
Other comprehensive (loss) income, net of tax of $0.0 million			2.8
Balance, ending	(39.4)		(39.4)
Effects of Cash Flow Hedges
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning			(0.1)
Other comprehensive income (loss) prior to reclassifications			0.3
Amounts reclassified from accumulated other comprehensive loss			(0.2)
Other comprehensive (loss) income, net of tax of $0.0 million			0.1
Balance, ending	$ 0		0
Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Income tax			$ 0

Changes in Accumulated Other 69

Changes in Accumulated Other Comprehensive Loss (Reclassifications) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 01, 2016	Jul. 03, 2015	Jul. 01, 2016	Jul. 03, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of revenues	$ (1,900,000)	$ 2,100,000	$ (3,300,000)	$ 5,800,000
Other income and expense	(41,900,000)	(8,700,000)	(58,600,000)	(13,900,000)
Reclassifications	25,800,000	51,400,000	62,200,000	107,200,000
Effects of Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassifications, tax		0	0	0
Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassifications	0	(1,600,000)	200,000	(6,800,000)
Reclassification out of Accumulated Other Comprehensive Income | Effects of Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of revenues	0	(1,600,000)	200,000	(3,400,000)
Reclassification out of Accumulated Other Comprehensive Income | Gains and Losses on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other income and expense	$ 0	$ 0	$ 0	$ (3,400,000)

Supplemental Disclosures (Non-C

Supplemental Disclosures (Non-Cash Financing Activities And Cash Payments) (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 01, 2016	Jul. 03, 2015
Non-cash activities:
Term Loan B Facility proceeds deposited directly to escrow account	$ 2,167	$ 0
Debt issuance costs in accrued expenses	46.1	0
Capital expenditures in accounts payable and other liabilities	73.4	91.1
Equipment acquired or refinanced through capital leases	0	1.5
Cash (received) paid for:
Interest income	(2.4)	(0.6)
Interest expense	32.2	14.4
Income taxes	$ 12.6	$ 11.3

Segment Information (Segment In

Segment Information (Segment Information Of Revenues, Gross Profit And Operating Income) (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2016USD ($)	Jul. 03, 2015USD ($)	Jul. 01, 2016USD ($)segment	Jul. 03, 2015USD ($)
Segment Reporting [Abstract]
Number of reporting segments | segment			4
Segment Reporting Information [Line Items]
Revenues from external customers	$ 877.8	$ 880.5	$ 1,695	$ 1,751.3
Segment gross profit	319.5	308.4	602.2	612.5
Operating Segments | Application Products Group
Segment Reporting Information [Line Items]
Revenues from external customers	272.6	263.5	523.1	527.8
Segment gross profit	125.7	120	229.5	237.3
Operating Segments | Image Sensor Group
Segment Reporting Information [Line Items]
Revenues from external customers	172.8	173.2	341	343.7
Segment gross profit	57.4	53.2	118.5	102.7
Operating Segments | Standard Products Group
Segment Reporting Information [Line Items]
Revenues from external customers	309.8	307.8	594.7	611
Segment gross profit	111.6	107	211.2	219.1
Operating Segments | System Solutions Group
Segment Reporting Information [Line Items]
Revenues from external customers	122.6	136	236.2	268.8
Segment gross profit	$ 24.8	$ 28.2	$ 43	$ 53.4

Segment Information (Reconcilia

Segment Information (Reconciliations Of Segment Gross Profit And Segment Operating Income) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2016	Jul. 03, 2015	Jul. 01, 2016	Jul. 03, 2015
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross profit	$ 307.9	$ 304.4	$ 583.4	$ 604.8
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross profit	319.5	308.4	602.2	612.5
Less: unallocated manufacturing costs
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Less: unallocated manufacturing costs	$ (11.6)	$ (4)	$ (18.8)	$ (7.7)

Segment Information (Revenues B

Segment Information (Revenues By Geographic Location Including Local Sales And Exports) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2016	Jul. 03, 2015	Jul. 01, 2016	Jul. 03, 2015
Segment Reporting Information [Line Items]
Revenues	$ 877.8	$ 880.5	$ 1,695	$ 1,751.3
Reportable Geographical Components | United States
Segment Reporting Information [Line Items]
Revenues	139.6	140.8	280.5	272.6
Reportable Geographical Components | Japan
Segment Reporting Information [Line Items]
Revenues	81.5	64.8	165.8	127.4
Reportable Geographical Components | Hong Kong
Segment Reporting Information [Line Items]
Revenues	217.1	224	395.1	415.2
Reportable Geographical Components | Singapore
Segment Reporting Information [Line Items]
Revenues	256	294.6	502.4	610.9
Reportable Geographical Components | United Kingdom
Segment Reporting Information [Line Items]
Revenues	141	119.2	275.1	248.9
Reportable Geographical Components | Other
Segment Reporting Information [Line Items]
Revenues	$ 42.6	$ 37.1	$ 76.1	$ 76.3

Segment Information (Summary of

Segment Information (Summary of Property, Plant and Equipment by Geographic Location) (Details) - USD ($) $ in Millions	Jul. 01, 2016	Dec. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 1,277.2	$ 1,274.1
Reportable Geographical Components | United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	336.3	326.2
Reportable Geographical Components | Czech Republic
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	97.9	102.9
Reportable Geographical Components | Malaysia
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	220.8	226.5
Reportable Geographical Components | Philippines
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	250.5	259.1
Reportable Geographical Components | China
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	102.7	111
Reportable Geographical Components | Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 269	$ 248.4

Recent Developments and Subse75

Recent Developments and Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Billions	Nov. 18, 2015	Jul. 01, 2016	Dec. 31, 2015
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Fairchild
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)	$ 0.01
Business acquisition, share price (in dollars per share)	$ 20
Purchase price	$ 2.4