ON Semiconductor (ON) 10-K 10 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2024	Feb. 05, 2025	Jun. 28, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-39317
Entity Registrant Name	ON SEMICONDUCTOR CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3840979
Entity Address, Address Line One	5701 N. Pima Road
Entity Address, City or Town	Scottsdale
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85250
City Area Code	602
Local Phone Number	244-6600
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ON
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 29,264,164,935
Entity Common Stock, Shares Outstanding		421,421,127
Documents Incorporated by Reference	Documents Incorporated by Reference Portions of the registrant's Definitive Proxy Statement relating to its 2025 Annual Meeting of Stockholders, which is expected to be filed pursuant to Regulation 14A within 120 days after the registrant's fiscal year ended December 31, 2024, are incorporated by reference into Part III of this Form 10-K where indicated.
Entity Central Index Key	0001097864
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2024
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Phoenix, Arizona
Auditor Firm ID	238

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 2,691.3	$ 2,483
Short-term investments	300	0
Receivables, net	1,160.1	935.4
Inventories	2,242	2,111.8
Other current assets	358.6	382.1
Total current assets	6,752	5,912.3
Property, plant and equipment, net	4,361.4	4,401.5
Goodwill	1,587.9	1,577.6
Intangible assets, net	257.9	299.3
Deferred tax assets	729.9	600.8
ROU financing lease assets	40.5	42.4
Other assets	360.2	381.3
Total assets	14,089.8	13,215.2
Liabilities and Stockholders’ Equity
Accounts payable	574.5	725.6
Accrued expenses and other current liabilities	760	663.2
Current portion of financing lease liabilities	0.3	0.8
Current portion of long-term debt	0	794
Total current liabilities	1,334.8	2,183.6
Long-term debt	3,345.9	2,542.6
Deferred tax liabilities	37.6	38.7
Long-term financing lease liabilities	20.7	22.4
Other long-term liabilities	536.3	627.3
Total liabilities	5,275.3	5,414.6
Commitments and contingencies (Note 13)
ON Semiconductor Corporation stockholders’ equity:
Common stock ($0.01 par value, 1,250,000,000 shares authorized, 622,655,553 and 616,281,996 shares issued, 422,955,173 and 426,386,426 shares outstanding, respectively)	6.2	6.2
Additional paid-in capital	5,372.2	5,210.9
Accumulated other comprehensive loss	(62.4)	(45.2)
Accumulated earnings	8,120.9	6,548.1
Less: Treasury stock, at cost; 199,700,380 and 189,895,570 shares, respectively	(4,640.5)	(3,937.4)
Total ON Semiconductor Corporation stockholders’ equity	8,796.4	7,782.6
Non-controlling interest	18.1	18
Total stockholders' equity	8,814.5	7,800.6
Total liabilities and stockholders' equity	$ 14,089.8	$ 13,215.2

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Stockholders' Equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,250,000,000	1,250,000,000
Common stock, shares issued (in shares)	622,655,553	616,281,996
Common stock, shares outstanding (in shares)	422,955,173	426,386,426
Treasury stock common (in shares)	199,700,380	189,895,570

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenue	$ 7,082.3	$ 8,253	$ 8,326.2
Cost of revenue	3,866.2	4,369.5	4,249
Gross profit	3,216.1	3,883.5	4,077.2
Operating expenses:
Research and development	612.7	577.3	600.2
Selling and marketing	273.5	279.1	287.9
General and administrative	376.3	362.4	343.2
Amortization of acquisition-related intangible assets	52	51.1	81.2
Restructuring, asset impairments and other charges, net	133.9	74.9	17.9
Goodwill and intangible asset impairment	0	0	386.8
Total operating expenses	1,448.4	1,344.8	1,717.2
Operating income	1,767.7	2,538.7	2,360
Other income (expense), net:
Interest expense	(62.3)	(74.8)	(94.9)
Interest income	111.4	93.1	15.5
Loss on debt refinancing and prepayment	0	(13.3)	(7.1)
Gain (loss) on divestiture of businesses	0	(0.7)	67
Other income (expense), net	20.6	(7.2)	21.7
Other income (expense), net	69.7	(2.9)	2.2
Income before income taxes	1,837.4	2,535.8	2,362.2
Income tax provision	(262.8)	(350.2)	(458.4)
Net income	1,574.6	2,185.6	1,903.8
Less: Net income attributable to non-controlling interest	(1.8)	(1.9)	(1.6)
Net income attributable to ON Semiconductor Corporation	1,572.8	2,183.7	1,902.2
Net income for diluted earnings per share of common stock (Note 10)	$ 1,572.8	$ 2,185	$ 1,904.2
Net income per share of common stock attributable to ON Semiconductor Corporation:
Basic (in dollars per share)	$ 3.68	$ 5.07	$ 4.39
Diluted (in dollars per share)	$ 3.63	$ 4.89	$ 4.25
Weighted-average shares of common stock outstanding:
Basic (in shares)	427.4	430.7	433.2
Diluted (in shares)	432.7	446.8	448.2
Comprehensive income (loss), net of tax:
Net income	$ 1,574.6	$ 2,185.6	$ 1,903.8
Foreign currency translation adjustments	(3.4)	(2.1)	(6)
Effects of cash flow hedges	(13.8)	(19.9)	23.4
Other comprehensive income (loss), net of tax	(17.2)	(22)	17.4
Comprehensive income	1,557.4	2,163.6	1,921.2
Comprehensive income attributable to non-controlling interest	(1.8)	(1.9)	(1.6)
Comprehensive income attributable to ON Semiconductor Corporation	$ 1,555.6	$ 2,161.7	$ 1,919.6

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	1.625% Notes	1.625% Notes Convertible Debt	0% Notes	0% Notes Convertible Debt	Common Stock	Common Stock 1.625% Notes	Common Stock 0% Notes	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjustment	Additional Paid-in Capital 1.625% Notes	Additional Paid-in Capital 0% Notes	Accumulated Other Comprehensive Loss	Accumulated Earnings	Accumulated Earnings Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock	Treasury Stock 1.625% Notes	Treasury Stock 0% Notes	Non-Controlling Interest
Beginning Balance (in shares) at Dec. 31, 2021							603,044,079
Beginning balance at Dec. 31, 2021	$ 4,604.4	$ (102)					$ 6			$ 4,633.3	$ (129.1)			$ (40.6)	$ 2,435.1	$ 27.1	$ (2,448.4)			$ 19
Treasury stock, beginning balance (in shares) at Dec. 31, 2021																	(170,571,261)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued pursuant to the ESPP (in shares)							493,484
Shares issued pursuant to the ESPP	22.9									22.9
RSUs released and stock grant awards issued (in shares)							3,739,726
RSUs released and stock grant awards issued	0						$ 0.1			(0.1)
Partial settlement (in shares)								611,431
Partial settlement			$ (0.3)					$ 0				$ (0.3)
Partial settlement of warrants (in shares)								478,993
Partial settlement of warrants			0					$ 0				0
Partial settlement of bond hedges (in shares)																		(617,554)
Partial settlement of bond hedges			0									43.4						$ (43.4)
Payment of tax withholding for RSUs (in shares)																	(1,254,030)
Payment of tax withholding for RSUs	(78.1)																$ (78.1)
Share-based compensation	$ 100.8									100.8
Repurchase of common stock (in shares)	(4,000,000)																(3,988,453)
Repurchase of common stock	$ (259.8)																$ (259.8)
Dividend to non-controlling shareholder	(2.1)																			(2.1)
Comprehensive income (loss)	1,921.2													17.4	1,902.2					1.6
Ending Balance (in shares) at Dec. 31, 2022							608,367,713
Ending balance at Dec. 31, 2022	6,207						$ 6.1			4,670.9				(23.2)	4,364.4		$ (2,829.7)			18.5
Treasury Stock, ending balance (in shares) at Dec. 31, 2022																	(176,431,298)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]		Accounting Standards Update 2020-06 [Member]
Debt instrument, interest rate				1.625%
Shares issued pursuant to the ESPP (in shares)							387,770
Shares issued pursuant to the ESPP	25.7									25.7
RSUs released and stock grant awards issued (in shares)							2,433,671
RSUs released and stock grant awards issued	0						$ 0			0
Warrants and bond hedges, net					$ (171.5)								$ (171.5)
Tax impact of warrants and bond hedges, net	92.3									92.3
Partial settlement (in shares)									794
Partial settlement					0				$ 0				0
Partial settlement (in shares)								5,091,710
Partial settlement			0					$ 0.1				(0.1)
Partial settlement of warrants (in shares)								159	179
Partial settlement of warrants			0					$ 0				0
Partial settlement of bond hedges (in shares)																		(5,091,752)	(785)
Partial settlement of bond hedges			$ 0		$ 0							$ 472.4	$ 0.1					$ (472.4)	$ (0.1)
Payment of tax withholding for RSUs (in shares)																	(805,107)
Payment of tax withholding for RSUs	(67.1)																$ (67.1)
Share-based compensation	$ 121.1									121.1
Repurchase of common stock (in shares)	(7,600,000)																(7,566,628)
Repurchase of common stock	$ (568.1)																$ (568.1)
Dividend to non-controlling shareholder	(2.4)																			(2.4)
Comprehensive income (loss)	$ 2,163.6													(22)	2,183.7					1.9
Ending Balance (in shares) at Dec. 31, 2023	426,386,426						616,281,996
Ending balance at Dec. 31, 2023	$ 7,800.6						$ 6.2			5,210.9				(45.2)	6,548.1		$ (3,937.4)			18
Treasury Stock, ending balance (in shares) at Dec. 31, 2023	(189,895,570)																(189,895,570)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Debt instrument, interest rate				1.625%		0%
Shares issued pursuant to the ESPP (in shares)							435,407
Shares issued pursuant to the ESPP	$ 25.2									25.2
RSUs released and stock grant awards issued (in shares)							1,909,867
Partial settlement (in shares)									53
Partial settlement of warrants (in shares)								4,028,216	14
Payment of tax withholding for RSUs (in shares)																	(676,539)
Payment of tax withholding for RSUs	(50.8)																$ (50.8)
Share-based compensation	$ 136.1									136.1
Repurchase of common stock (in shares)	(9,100,000)																(9,128,271)
Repurchase of common stock	$ (652.3)																$ (652.3)
Dividend to non-controlling shareholder	(1.7)																			(1.7)
Comprehensive income (loss)	$ 1,557.4													(17.2)	1,572.8					1.8
Ending Balance (in shares) at Dec. 31, 2024	422,955,173						622,655,553
Ending balance at Dec. 31, 2024	$ 8,814.5						$ 6.2			$ 5,372.2				$ (62.4)	$ 8,120.9		$ (4,640.5)			$ 18.1
Treasury Stock, ending balance (in shares) at Dec. 31, 2024	(199,700,380)																(199,700,380)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Debt instrument, interest rate				1.625%		0%

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical)	Dec. 31, 2024	Mar. 29, 2024	Dec. 31, 2023	Dec. 31, 2022
1.625% Notes | Convertible Debt
Debt instrument, interest rate	1.625%	1.625%	1.625%	1.625%

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 1,574.6	$ 2,185.6	$ 1,903.8
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	642.9	609.5	551.8
(Gain) loss on sale or disposal of fixed assets	5.5	11.6	(32.6)
(Gain) loss on divestiture of businesses	0	0.7	(67)
Loss on debt refinancing and prepayment	0	13.3	7.1
Amortization of debt discount and issuance costs	11.1	11.3	11
Share-based compensation	136.1	121.1	100.8
Non-cash asset impairment charges	37.8	19.5	18.6
Goodwill and intangible asset impairment charges	0	0	386.8
Change in deferred tax balances	(129.6)	(127.7)	3.1
Other	10	(4.7)	0.1
Changes in assets and liabilities (exclusive of acquisitions and divestitures):
Receivables	(244.3)	(112.8)	(47.8)
Inventories	(129.6)	(495.2)	(235.2)
Other assets	107	0.7	(110.5)
Accounts payable	(62.5)	(91.7)	38.2
Accrued expenses and other current liabilities	62.2	(178.6)	96.5
Other long-term liabilities	(114.8)	14.9	8.4
Net cash provided by operating activities	1,906.4	1,977.5	2,633.1
Cash flows from investing activities:
Payments for acquisition of property, plant and equipment	(694)	(1,539.1)	(1,036)
Proceeds from sale of property, plant and equipment	6.2	4	59.1
Payments related to acquisition of business, net of cash acquired	(20.5)	(236.3)	(2.4)
Divestiture of business, net of cash transferred	0	0	263.1
Purchase of short-term investments and available-for-sale securities	(1,050)	0	(18)
Proceeds from maturity of short-term investments and available-for-sale securities	750	33.5	28.8
Other	(1.5)	0	0
Net cash used in investing activities	(1,009.8)	(1,737.9)	(705.4)
Cash flows from financing activities:
Proceeds for the issuance of common stock under the ESPP	25.2	25.8	22.9
Payment of tax withholding for RSUs	(51)	(66.8)	(78.1)
Repurchase of common stock	(654.1)	(564.2)	(259.8)
Issuance and borrowings under debt agreements	0	1,845	500
Repayment of borrowings under debt agreements	0	(1,723.4)	(530)
Payment on principal portion of finance lease obligations	(2.2)	(15.3)	(11.5)
Payment for purchase of bond hedges	0	(414)	0
Proceeds from issuance of warrants	0	242.5	0
Other	(1.7)	(16.1)	(13.5)
Net cash used in financing activities	(683.8)	(686.5)	(370)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(4.4)	(1.1)	(2.4)
Net increase (decrease) in cash, cash equivalents and restricted cash	208.4	(448)	1,555.3
Cash, cash equivalents and restricted cash, beginning of period	2,485	2,933	1,377.7
Cash, cash equivalents and restricted cash, end of period	$ 2,693.4	$ 2,485	$ 2,933

Background and Basis of Present

Background and Basis of Presentation	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background and Basis of Presentation	Note 1: Background and Basis of Presentation ON Semiconductor Corporation, with its wholly and majority-owned subsidiaries ("onsemi" or the "Company"), operates under the onsemi TM brand, and prepares its consolidated financial statements in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Certain reclassifications within the statements of cash flows have been made to prior period amounts to conform to current period presentation. The Company is organized into three operating and reportable segments: the Power Solutions Group ("PSG"), the Analog and Mixed-Signal Group ("AMG") and the Intelligent Sensing Group ("ISG"). During the first quarter of 2024, onsemi reorganized the existing divisions within certain of its operating and reportable segments and renamed the Advanced Solutions Group ("ASG") reportable segment to AMG. See Note 3: ''Segments and Revenue'' for additional information regarding the segment reorganization. Unless otherwise noted, all dollar amounts are in millions, except per share amounts.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	Note 2: Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements include the assets, liabilities, revenue and expenses of all wholly-owned and majority-owned subsidiaries over which the Company exercises control and, when applicable, entities in which the Company has a controlling financial interest or is the primary beneficiary. Investments in affiliates where the Company does not exert a controlling financial interest are not consolidated. All intercompany balances and transactions have been eliminated. Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and the reported amount of revenue and expenses during the reporting period. Management evaluates these estimates and judgments on an ongoing basis and bases its estimates on experience, current and expected future conditions, third-party evaluations and various other assumptions that management believes are reasonable under the circumstances. Significant estimates have been used by management in conjunction with the following: (i) calculation of future payouts for customer incentives and amounts subject to allowances and returns; (ii) valuation and obsolescence relating to inventories; (iii) measurement of valuation allowances against deferred tax assets, and evaluations of uncertain tax positions; (iv) assumptions used in business combinations; and (v) testing for impairment of long-lived assets and goodwill. Actual results may differ from the estimates and assumptions used in the consolidated financial statements. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposits and highly liquid investments with original maturities at the time of purchase of three months or less. The Company maintains amounts on deposit at various financial institutions, which may at times exceed federally insured limits. However, management periodically evaluates the credit-worthiness of those institutions and has not experienced any losses on such deposits. Short-Term Investments Short-term investments are comprised of time deposits with original maturities of greater than three months at the time of purchase. Interest on these investments are included within Interest income. Inventories Inventories are stated at the lower of standard cost (which approximates actual cost on a first-in, first-out basis) or net realizable value. General market conditions, as well as the Company's design activities, can cause certain of its products to become obsolete. The Company writes down excess and obsolete inventories based upon a regular analysis of inventory on hand compared to historical and projected end-user demand. The determination of projected end-user demand requires the use of estimates and assumptions related to projected unit sales for each product. These write downs can influence results from operations. For example, when demand for a given part falls, all or a portion of the related inventory that is considered to be in excess of anticipated demand is written down, impacting cost of revenue and gross profit. The majority of product inventory that has been previously written down is ultimately discarded. Although the Company does sell some products that have previously been written down, such sales have historically been consistently insignificant and the related impact on the Company's gross profit has also been insignificant. Property, Plant and Equipment Property, plant and equipment are recorded at cost and are depreciated over estimated useful lives of 30 years for buildings and 3-20 years for computers, machinery and equipment using straight-line methods. Expenditures for maintenance and repairs are charged to operations in the period in which the expenses are incurred. When assets are retired or otherwise disposed of, the related costs and accumulated depreciation are removed from the balance sheet and any resulting gain or loss is reflected in operations in the period realized. The Company evaluates the recoverability of the carrying amount of its property, plant and equipment whenever events or changes in circumstances indicate that the carrying value of an asset group may not be fully recoverable. A potential impairment charge is evaluated when the undiscounted expected cash flows derived from an asset group are less than its carrying amount. Impairment losses, if applicable, are measured as the amount by which the carrying value of an asset group exceeds its fair value. Judgment is used when applying these impairment rules to determine the timing of the impairment test, the undiscounted cash flows used to assess impairments and the fair value of the asset group. Business Combination Purchase Price Allocation The allocation of the purchase price of business combinations is based on management estimates and assumptions, which utilize established valuation techniques appropriate for the technology industry. These techniques include the income approach, cost approach or market approach, depending upon which approach is the most appropriate based on the nature and reliability of available data. Management records the acquired assets and liabilities at fair value. If the income approach is used, the fair value determination is predicated upon the value of the future cash flows that an asset is expected to generate over its economic life. The cost approach takes into account the cost to replace (or reproduce) the asset and the effects on the asset's value of physical, functional and/or economic obsolescence that has occurred with respect to the asset. The market approach is used to estimate value from an analysis of actual market transactions or offerings for economically comparable assets available as of the valuation date. Determining the fair value of acquired technology assets is judgmental in nature and requires the use of significant estimates and assumptions, including the discount rate, revenue growth rates, projected gross margins, and estimated research and development and other operating expenses. Goodwill Goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired in a business combination. The Company evaluates its goodwill for impairment annually during the fourth quarter and whenever events or changes in circumstances indicate the carrying value of a reporting unit may not be recoverable. The Company’s divisions are one level below the operating segments, constituting individual businesses, at which level the Company’s segment management conducts regular reviews of the operating results. The Company's divisions, either individually or in a combination, constitute reporting units for purposes of allocating and testing goodwill. The Company's impairment evaluation consists of a qualitative assessment. If this assessment indicates that it is more likely than not the estimated fair value of a reporting unit exceeds its carrying value, goodwill is not considered impaired. Otherwise, a quantitative impairment test is performed by comparing the fair value of a reporting unit to its carrying value, including goodwill. The Company can bypass the qualitative assessment for any period and proceed directly to the quantitative impairment test. If the carrying value of the net assets associated with the reporting unit exceeds the fair value of the reporting unit, goodwill is considered impaired and will be determined as the amount by which the reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. Determining the fair value of the Company's reporting units is subjective in nature and involves the use of significant estimates and assumptions, including projected net cash flows, discount rates and long-term growth rates. The Company determines the fair value of its reporting units based on an income approach derived from the present value of estimated future cash flows. The assumptions about estimated cash flows include factors such as future revenue, gross profit, operating expenses and industry trends. The Company considers historical rates and current market conditions when determining the discount and long-term growth rates to use in its analysis. The Company considers other valuation methods, such as the cost approach or market approach, if it is determined that these methods provide a more representative approximation of fair value. Intangible Assets The Company's acquisitions have resulted in intangible assets consisting of values assigned to customer relationships, patents, developed technology, licenses, and trademarks, which are considered long-lived assets and are stated at cost less accumulated amortization. These intangible assets are amortized over their estimated useful lives and are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of an asset group containing these assets may not be recoverable. Leases The Company determines if an arrangement is a lease at its inception. Operating and financing lease arrangements are comprised primarily of real estate and equipment agreements. ROU assets are included in other assets and the corresponding lease liabilities, depending on their maturity, are included in accrued expenses and other current liabilities or other long-term liabilities. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The lease term includes options to extend the lease when it is reasonably certain that the option will be exercised. Leases with a term of 12 months or less are not recorded on the Consolidated Balance Sheet. The Company uses its estimated incremental borrowing rate in determining the present value of lease payments considering the term of the lease, which is derived from information available at the lease commencement date, giving consideration to publicly available data for instruments with similar characteristics. The Company accounts for the lease and non-lease components as a single lease component. Debt Issuance Costs Debt issuance costs for the Company's revolving credit facilities are capitalized and amortized over the term of the facility on a straight-line basis. Amortization is included in interest expense while the unamortized balance is included in other assets. Debt issuance costs for the Company's convertible notes, senior notes and term debt are recorded as a direct deduction from the carrying amounts of such debt, consistent with debt discounts, and are amortized over their term using the effective interest method. Amortization is included in interest expense. Government Incentives The Company receives government incentives for various reasons including capital expenditures, operating expenses, or to develop specific technologies, which may require the Company to meet or maintain certain metrics, and may be subject to reduction, termination, or recapture if such conditions are not met or maintained. Incentives related to the acquisition or construction of property, plant and equipment are recognized as a reduction in the cost-basis of the underlying assets with a reduction to depreciation expense based on the useful lives of the related assets. Incentives related to specific operating activities are offset against the related expense in the period the expense is incurred. Government incentives received prior to being earned are recognized in current or non-current liabilities or restricted cash, whereas incentives earned prior to being received are recognized in current or non-current receivables. Cash incentives related to operating expenses along with incentives that can offset taxes payable are included in operating activities, while cash received related to the acquisition of property, plant, and equipment are included in investing activities in the Consolidated Statements of Cash Flows. Contingencies The Company is involved in a variety of legal and IP matters and environmental, financing and indemnification contingencies that arise in the ordinary course of business. Based on the information available, management evaluates the relevant range and likelihood of potential outcomes and records the appropriate liability when the amount is deemed probable and reasonably estimable. Treasury Stock Treasury stock is recorded at cost, inclusive of fees, commissions and other expenses, when outstanding common shares are repurchased, bond hedges issued in connection with the convertible notes are settled and when outstanding shares are withheld to satisfy tax withholding obligations in connection with certain shares pursuant to RSUs under the Company's share-based compensation plans. Re-issuance of shares held in treasury stock is accounted for on a first-in, first-out basis. Revenue Recognition The Company generates revenue from sales of its semiconductor products to direct customers and distributors. The Company also generates revenue, to a much lesser extent, from product development agreements and manufacturing services provided to customers. The Company applies a five-step approach in determining the amount and timing of revenue to be recognized: (i) identifying the contract with a customer; (ii) identifying the performance obligations in the contract; (iii) determining the transaction price; (iv) allocating the transaction price to the performance obligations in the contract; and (v) recognizing revenue when the performance obligation is satisfied. The Company allocates the transaction price to each distinct product based on its relative stand-alone selling price. In determining the transaction price, the Company evaluates whether the price is subject to refund or adjustment to determine the net consideration to which the Company expects to be entitled. Revenue is recognized when the Company satisfies a performance obligation in an amount reflecting the consideration to which it expects to be entitled. For sales agreements, the Company has identified the promise to transfer products, each of which is distinct, as the performance obligation. The Company recognizes revenue from sales agreements upon transferring control of a product to the customer, which typically occurs when products are shipped or delivered, depending on the delivery terms, or when products that are consigned at customer locations are consumed. Revenue is also recognized over time for products with no alternative use and an enforceable right to payment as they are manufactured, which represents a contract asset. The Company can receive cash payments from customers in advance of the performance obligation being satisfied, which represents a contract liability. Contract liabilities are recognized as revenue when the performance obligations are satisfied. Frequently, the Company receives orders with multiple delivery dates that may extend across reporting periods. Each delivery constitutes an individual performance obligation, which consists of transferring control of the products to the customers based on their stand-alone selling price. The Company invoices the customer for each delivery upon shipment and recognizes revenue in accordance with delivery terms. As scheduled delivery dates are within one year, revenue allocated to future shipments of partially completed contracts is not disclosed. For product development agreements, the Company has identified the completion of a service defined in the agreement as the performance obligation. The Company recognizes revenue from product development agreements over time based on the cost-to-cost method. The Company recognizes revenue from manufacturing services when it satisfies the performance obligation by transferring the promised goods or services to the customer. Depending on the terms of the applicable contractual agreement with the customer, revenue is recognized at the point in time when the customer obtains control of the promised goods or service, or over time when the created asset has no alternate use to the Company and there is an enforceable right to payment for the performance to date. Sales agreements with customers are renewable periodically and contain terms and conditions with respect to payment, delivery, warranty and supply. In the absence of a sales agreement, the Company’s standard terms and conditions apply. Payment terms for direct customers generally require payment within 30 days but can extend up to 90 days. The Company considers the customer purchase orders, governed by sales agreements or the Company’s standard terms and conditions, to be the contract with the customer. The Company evaluates certain factors including the customer’s ability to pay (or credit risk). The Company’s direct customers do not have the right to return products, other than pursuant to the provisions of the Company’s standard warranty. Sales to distributors, however, are typically made pursuant to agreements that provide return rights and stock rotation provisions permitting limited levels of product returns. Sales to certain distributors, primarily those with ship and credit rights, can also be subject to price adjustment on certain products. Although payment terms vary, most distributor agreements require payment within 30 days. In addition, the Company offers cash discounts to certain customers for payments received within an agreed upon time, generally ten days after shipment, which is recorded as a reduction to revenue. Sales returns and allowances, which include ship and credit reserves for distributors, are estimated based on historical claims data and expected future claims. Provisions for discounts and rebates to customers, estimated returns and allowances, ship and credit claims and other adjustments are provided for in the same period the related revenue is recognized, and are netted against revenue. The Company records freight and handling costs associated with outbound freight after control over a product has transferred to a customer as a fulfillment cost and includes it in cost of revenue. Taxes assessed by government authorities on revenue-producing transactions, including value-added and excise taxes, are presented on a net basis (excluded from revenue). The Company generally warrants that products sold to its customers will, at the time of shipment, be free from defects in workmanship and materials and conform to specifications. The Company’s standard warranty extends for a period of two years from the date of delivery, except in the case of image sensor products, which are warrantied for one year from the date of delivery. At the time revenue is recognized, the Company establishes an accrual for estimated warranty expenses associated with its sales and records them as a component of the cost of revenue. Research and Development Costs Research and development costs are expensed as incurred. Income Taxes Income taxes are accounted for using the asset and liability method. Under this method, deferred income tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which these temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for those deferred tax assets for which management cannot conclude that it is more likely than not that such deferred tax assets will be realized. In determining the amount of the valuation allowance, estimated future taxable income, feasible tax planning strategies, future reversals of existing temporary differences and taxable income in prior carryback years, if a carryback is permitted, are considered. If the Company determines it is more likely than not that all or a portion of the remaining deferred tax assets will not be realized, the valuation allowance will be increased with a charge to income tax expense. Conversely, if the Company determines it is more likely than not to be able to utilize all or a portion of the deferred tax assets for which a valuation allowance has been provided, the related portion of the valuation allowance will be recorded as a reduction to income tax expense. The Company recognizes and measures benefits for uncertain tax positions using a two-step approach. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that is it more likely than not that the tax positions will be sustained upon audit, including resolution of any related appeals or litigation processes. For tax positions that are more likely than not to be sustained upon audit, the second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon settlement. No tax benefit is recognized for tax positions that are not more likely than not to be sustained. The Company's practice is to recognize interest and/or penalties related to income tax matters in income tax expense. Significant judgment is required to evaluate uncertain tax positions. Evaluations are based upon a number of factors, including changes in facts or circumstances, changes in tax law, correspondence with tax authorities during the course of tax audits and effective settlement of audit issues. Changes in the recognition or measurement of uncertain tax positions could result in significant increases or decreases in income tax expense in the period in which the change is made, which could have a significant impact on the Company's effective tax rate. Foreign Currencies Most of the Company's foreign subsidiaries conduct business primarily in U.S. dollars and, as a result, utilize the U.S. dollar as their functional currency. For the remeasurement of financial statements of these subsidiaries, assets and liabilities in foreign currencies that are receivable or payable in cash are remeasured at current exchange rates, while inventories and other non-monetary assets in foreign currencies are remeasured at historical rates. Gains and losses resulting from the remeasurement of such financial statements are included in the operating results, as are gains and losses incurred on foreign currency transactions. Some of the Company's Japanese subsidiaries utilize Japanese Yen as their functional currency. The assets and liabilities of these subsidiaries are translated at current exchange rates, while revenue and expenses are translated at the average rates in effect for the period. The related translation gains and losses are included in other comprehensive income or loss within the Consolidated Statements of Operations and Comprehensive Income. Defined Benefit Pension Plans The Company maintains defined benefit pension plans covering certain of its foreign employees. Net periodic pension costs and pension obligations are determined based on actuarial assumptions, including discount rates for plan obligations, assumed rates of return on pension plan assets and assumed rates of compensation increases for employees participating in plans. These assumptions are based upon management's judgment and consultation with actuaries, considering all known trends and uncertainties. The service cost component of the net periodic pension cost is allocated between the cost of revenue, research and development, selling and marketing and general and administrative line items, while the other components are included in other expense in the Consolidated Statements of Operations and Comprehensive Income. Fair Value Measurement The Company measures certain of its financial and non-financial assets at fair value by using the fair value hierarchy that prioritizes certain inputs into individual fair value measurement approaches. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the third, unobservable. The Company has elected not to carry any of its debt instruments at fair value.

Segments and Revenue

Segments and Revenue	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segments and Revenue	Note 3: Segments and Revenue Segments As of December 31, 2024, the Company was organized into three operating and reportable segments consisting of PSG, AMG and ISG. These segments represent management's view of the business for which separate financial information is available and evaluated regularly by the Chief Operating Decision Maker ("CODM"), which is the Company’s Chief Executive Officer. The CODM uses segment gross profit for evaluating product pricing, factory utilization, allocation of capital and the assessment of segment profitability. The operating costs of manufacturing facilities which service all business units are reflected in each segment's cost of revenue on the basis of product costs. Because operating segments are generally defined by the products they design and sell, they do not sell to each other. The Company does not allocate income taxes or interest expense to its operating segments as the operating segments are principally evaluated on gross profit. Additionally, restructuring, asset impairments and other charges, net and certain other operating expenses, which include corporate research and development costs and miscellaneous nonrecurring expenses, are not allocated to segments. PSG formerly included the divisions of Advanced Power Division and Integrated Circuits, Protection and Signal Division ("IPS"). During the first quarter of 2024, management reorganized these divisions to the divisions of Automotive Power Division, Industrial Power Division and Multi-Market Power Division (“MPD”). Further, IPS was split, with portions remaining in MPD and portions moving to the new Integrated Circuits Division within AMG. Management performed a goodwill impairment analysis on the divisions (which were the reporting units) prior to and after the reorganization and did not identify an impairment. Revenue and gross profit for the Company’s operating and reportable segments were as follows (in millions): PSG (1) AMG (1) ISG Total Year ended December 31, 2024: Revenue from external customers $ 3,348.2 $ 2,609.1 $ 1,125.0 $ 7,082.3 Cost of revenue 1,963.8 1,302.8 599.6 3,866.2 Segment gross profit $ 1,384.4 $ 1,306.3 $ 525.4 $ 3,216.1 Year ended December 31, 2023: Revenue from external customers $ 3,880.4 $ 3,057.1 $ 1,315.5 $ 8,253.0 Cost of revenue 2,058.5 1,635.8 675.2 4,369.5 Segment gross profit $ 1,821.9 $ 1,421.3 $ 640.3 $ 3,883.5 Year ended December 31, 2022: Revenue from external customers $ 3,467.1 $ 3,582.4 $ 1,276.7 $ 8,326.2 Cost of revenue 1,866.7 1,714.0 668.3 4,249.0 Segment gross profit $ 1,600.4 $ 1,868.4 $ 608.4 $ 4,077.2 (1) During the first quarter of 2024, the Company reorganized certain reporting units and its segment reporting structure. As a result of the reorganization of divisions within PSG and AMG, the prior-period amounts have been reclassified to conform to current-period presentation. The Company had one customer, a distributor, whose revenue accounted for approximately 10% and 12% of the total revenue for the years ended December 31, 2024 and 2022, respectively. No customer exceeded 10% of the total revenue for the year ended December 31, 2023. One customer, a distributor, accounted for approximately 13% of the Company's accounts receivable balance as of December 31, 2024, and no single customer had an accounts receivable concentration of 10% or greater as of December 31, 2023. Revenue for the Company's operating and reportable segments disaggregated into geographic locations based on sales billed from the respective country and sales channels was as follows (in millions): Year ended December 31, 2024 PSG AMG ISG Total Geographic Location: Hong Kong $ 876.1 $ 661.6 $ 241.6 $ 1,779.3 Singapore 991.0 617.1 125.1 1,733.2 United Kingdom 712.8 502.5 422.5 1,637.8 United States 525.4 596.7 185.4 1,307.5 Other 242.9 231.2 150.4 624.5 Total $ 3,348.2 $ 2,609.1 $ 1,125.0 $ 7,082.3 Sales Channel: Distributors $ 2,051.5 $ 1,338.7 $ 369.4 $ 3,759.6 Direct Customers 1,296.7 1,270.4 755.6 3,322.7 Total $ 3,348.2 $ 2,609.1 $ 1,125.0 $ 7,082.3 Year ended December 31, 2023 PSG (1) AMG (1) ISG Total Geographic Location: Hong Kong $ 1,151.7 $ 764.2 $ 252.7 $ 2,168.6 Singapore 1,095.1 640.4 203.3 1,938.8 United Kingdom 769.9 647.6 335.9 1,753.4 United States 604.3 642.1 327.3 1,573.7 Other 259.4 362.8 196.3 818.5 Total $ 3,880.4 $ 3,057.1 $ 1,315.5 $ 8,253.0 Sales Channel: Distributors $ 2,238.6 $ 1,494.2 $ 576.3 $ 4,309.1 Direct Customers 1,641.8 1,562.9 739.2 3,943.9 Total $ 3,880.4 $ 3,057.1 $ 1,315.5 $ 8,253.0 Year ended December 31, 2022 PSG (1) AMG (1) ISG Total Geographic Location: Hong Kong $ 1,083.1 $ 974.5 $ 258.2 $ 2,315.8 Singapore 955.7 978.2 200.0 2,133.9 United Kingdom 617.9 598.9 275.5 1,492.3 United States 543.7 585.6 335.4 1,464.7 Other 266.7 445.2 207.6 919.5 Total $ 3,467.1 $ 3,582.4 $ 1,276.7 $ 8,326.2 Sales Channel: Distributors $ 2,167.5 $ 1,948.4 $ 691.4 $ 4,807.3 Direct Customers 1,299.6 1,634.0 585.3 3,518.9 Total $ 3,467.1 $ 3,582.4 $ 1,276.7 $ 8,326.2 (1) During the first quarter of 2024, the Company reorganized certain reporting units and its segment reporting structure. As a result of the reorganization of divisions within PSG and AMG, the prior-period amounts have been reclassified to conform to current-period presentation. The Company operates in various geographic locations. Sales to external customers have little correlation to where products are manufactured or the location of the end-customers. The Company believes it is, therefore, not meaningful to present operating profit by geographical location. The following table illustrates the product technologies under each of the Company's reportable segments 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. PSG AMG ISG SiC products Analog products Actuator Drivers Discrete products ASIC products CMOS image sensors MOSFET products Logic and Isolation products Image Signal Processors Power Module products Non-Volatile Memory products Single Photon Detectors Foundry products/services Short-Wavelength Infrared products Gate Driver products Indirect Time of Flight sensors LSI products The Company does not discretely allocate assets to its operating segments, nor does management evaluate operating segments using discrete asset information. The Company’s consolidated assets used in manufacturing are generally shared across and are not specifically ascribed to operating and reportable segments. In situations where the carrying amounts assigned to an asset group needs to be evaluated for recoverability, judgment is used to determine the carrying amounts of the asset group based on the facts and circumstances. Property, plant and equipment, net by geographic location, is summarized below (in millions): As of December 31, 2024 2023 South Korea $ 1,423.8 $ 1,360.8 United States 1,410.8 1,456.5 Czech Republic 612.3 559.7 China 228.8 252.2 Philippines 208.1 252.9 Malaysia 183.1 199.3 Vietnam 155.3 164.3 Other 139.2 155.8 Total $ 4,361.4 $ 4,401.5 Revenue The Company's revenue is derived primarily from product sales, and to a much lesser extent, from manufacturing services and product development agreements. Revenue recognized from product sales as a percentage of total revenue was approximately 99%, 97% and 98% for the years ended December 31, 2024, 2023 and 2022, respectively. Revenue recognized from manufacturing services and product development agreements as a percentage of total revenue was approximately 1%, 3% and 2% for the years ended December 31, 2024, 2023 and 2022, respectively. The Company's revenue disaggregated into end-markets and product technologies was as follows (in millions): Year ended December 31, 2024 2023 2022 End-Markets: Automotive $ 3,900.8 $ 4,319.9 $ 3,360.8 Industrial 1,800.8 2,278.4 2,290.5 Other* 1,380.7 1,654.7 2,674.9 Total $ 7,082.3 $ 8,253.0 $ 8,326.2 * Other includes the end-markets of computing, consumer, networking, communications, etc. Product Technologies: Intelligent Power $ 3,648.6 $ 4,214.8 $ 3,997.3 Intelligent Sensing 1,379.2 1,606.8 1,573.7 Other 2,054.5 2,431.4 2,755.2 Total $ 7,082.3 $ 8,253.0 $ 8,326.2 Remaining Performance Obligations A portion of the Company’s orders are firm commitments that are non-cancelable, including certain orders or contracts with a duration of less than one year. Certain of the Company's customer contracts are multi-year agreements that include committed amounts ("Long-term Supply Agreements" or "LTSAs") for which the remaining performance obligations as of December 31, 2024 were approximately $11.9 billion (excluding the remaining performance obligations for contracts having a duration of one year or less). If products are shipped according to the terms of these contracts, the Company expects to recognize approximately 35% of this amount as revenue during the next twelve months. Total revenue estimates are based on negotiated contract prices and demand quantities, and could be influenced by risks and uncertainties, including manufacturing or supply chain constraints, modifications to customer agreements, and regulatory changes, among other factors. The timing, pricing or amounts of products delivered under LTSAs may be modified or canceled in circumstances upon mutual agreement, and the actual revenue recognized for the remaining performance obligations in future periods may significantly fluctuate from current estimates. Certain LTSAs include non-cancelable capacity payments from the customer, which are generally due within 30 days of agreement. These payments reserve production availability or are prepayments for the same purpose and are not recognized as revenue until the performance obligations are satisfied. Payments received in advance of the satisfaction of performance obligations are recorded as contract liabilities. During the years ended December 31, 2024 and 2023, $110.9 million and $88.2 million, respectively, were recognized as revenue for satisfying the associated performance obligations. Contract assets and contract liabilities were as follows (in millions): As of December 31, 2024 2023 Contract assets included in: Other current assets $ 39.9 $ 83.1 Other assets — 12.0 Total $ 39.9 $ 95.1 Contract liabilities included in: Accrued expenses and other current liabilities $ 98.2 $ 87.6 Other long-term liabilities 120.9 216.6 Total $ 219.1 $ 304.2

Recent Accounting Pronouncement

Recent Accounting Pronouncements and Other Developments	12 Months Ended
	Dec. 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements and Other Developments	Note 4: Recent Accounting Pronouncements and Other Developments Adopted Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07") In November 2023, the FASB issued ASU 2023-07 to enhance disclosures about significant segment expenses. The amendments in this ASU require a public entity to disclose significant segment expenses and other segment items on an annual and interim basis and to provide in interim periods all disclosures about a reportable segment's profit or loss and assets that are currently required annually. The amendments in this ASU also clarify circumstances in which an entity can disclose multiple segment measures of profit or loss and provide new segment disclosure requirements for entities with a single reportable segment. For public business entities, the provisions of ASU 2023-07 are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. ASU 2023-07 was adopted for the year ended December 31, 2024 retrospectively to all periods presented in the financial statements. See Note 3: ''Segments and Revenue'' for additional information. Pending Adoption Income Statement (Subtopic 220-40): Reporting Comprehensive Income - Expense Disaggregation Disclosures ("ASU 2024-03") In November 2024, the FASB issued ASU 2024-03, which requires public business entities to expand disclosures about specific expense categories. The amendments in this ASU require a public entity to disclose, in tabular format, in the notes to the financial statements, specific information about certain costs and expenses. Although the ASU does not change the expense captions an entity presents on the face of the income statement, it requires disaggregation of certain expense captions into specified categories. For public business entities, the provisions of ASU 2024-03 are effective for fiscal years beginning after December 15, 2026. Early adoption is permitted. Management is currently evaluating the requirements under this new standard. Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09") In December 2023, the FASB issued ASU 2023-09 to enhance disclosures about income taxes. The amendments in this ASU require a public entity to disclose in tabular format, using both percentages and reporting currency amounts, specific categories in the rate reconciliation and to provide additional information for reconciling items that meet a quantitative threshold. The amendments in this ASU also require taxes paid (net of refunds received) to be disaggregated by federal, state, and foreign taxes and further disaggregated for specific jurisdictions to the extent the related amounts exceed a quantitative threshold. For public business entities, the provisions of ASU 2023-09 are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. Management is currently evaluating the requirements under this new standard. SEC Climate Disclosure In March 2024, the SEC issued final rules requiring registrants to include comprehensive climate-related disclosures in annual reports and registration statements. As adopted, the final rules require large accelerated filers to make their first climate-related disclosures for fiscal years beginning in 2025. However, in April 2024, the SEC issued an order voluntarily staying the effectiveness of the new rules pending the completion of judicial review of certain legal challenges to their validity. Management is currently evaluating these rules as adopted while monitoring the status of the related litigation and the SEC’s stay.

Acquisitions and Divestitures

Acquisitions and Divestitures	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions and Divestitures	Note 5: Acquisitions and Divestitures The Company pursues acquisitions and divestitures from time to time to leverage its existing capabilities and further expand its business to achieve certain strategic goals. Acquisition costs are not included as components of consideration transferred and instead are accounted for as expenses in the period in which the costs are incurred. During the year ended December 31, 2024, the Company incurred acquisition and divestiture-related costs of approximately $13.1 million, an insignificant amount during the year ended 2023 and approximately $12.9 million during the year ended 2022, which were included in operating expenses in the Consolidated Statements of Operations and Comprehensive Income. 2024 Acquisition In July 2024, the Company completed its acquisition of SWIR Visions Systems ("SWIR") within its ISG segment for cash consideration of approximately $20.5 million. SWIR commercialized quantum-dot-based infrared image sensors, making them a strategic addition to the Company's existing technologies. 2022 Acquisition and Divestitures EFK Acquisition On December 31, 2022, the Company completed the acquisition of the East Fishkill, New York site and fabrication facility ("EFK") and certain other assets and liabilities from GLOBALFOUNDRIES U.S. Inc. ("GFUS"), previously announced in April 2019, for total consideration of $406.3 million, which was accounted for as a business combination. The Company paid GFUS $100.0 million and $70.0 million during 2020 and 2019, respectively, and the remaining consideration of $236.3 million was paid on January 3, 2023. Separately, the Company paid GFUS a one-time license fee of $30.0 million in cash for certain technology during 2019, which has been recognized as an intangible asset subject to amortization. During the year ended December 31, 2023, the Company finalized its determination relating to the fair value of assets acquired and liabilities assumed from the EFK acquisition, which was completed on December 31, 2022. The final allocation of the purchase price of EFK to the assets acquired and liabilities assumed, based on their relative fair values, which was materially consistent with the preliminary allocation, was as follows (in millions): Purchase Price Allocation Inventories $ 3.3 Other current assets 4.4 Property, plant and equipment 396.5 Other non-current assets 11.4 Total assets acquired 415.6 Current liabilities 3.0 Other long-term liabilities 6.3 Total liabilities assumed 9.3 Net assets acquired/purchase price $ 406.3 Unaudited pro-forma consolidated results of operations are not included considering the significance of the acquisition to the results of the Company. Divestitures During 2022, the Company divested four wafer manufacturing facilities to various parties: • the Oudenaarde, Belgium manufacturing facility was divested to BelGaN Group BV for an aggregate consideration of approximately $19.9 million; • the South Portland, Maine, manufacturing facility was divested to Diodes Incorporated for an aggregate consideration of approximately $80.0 million; • the Pocatello, Idaho manufacturing facility was divested to LA Semiconductor for an aggregate consideration of approximately $80.0 million; and • the Niigata, Japan manufacturing facility was divested to JS Foundry K.K., a Japan-based foundry company, for aggregate consideration of approximately $90.3 million.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 6: Goodwill and Intangible Assets Goodwill Goodwill is tested for impairment annually on the first day of the fourth quarter or more frequently if events or changes in circumstances (each, a "triggering event") would more-likely-than-not reduce the fair value of a reporting unit below its carrying value. As a result of the segment reorganization during the first quarter of 2024 discussed in Note 3: ''Segments and Revenue,'' management performed a goodwill impairment analysis on the divisions (which were the reporting units) prior to and after the reorganization and did not identify an impairment. In connection with the reorganization, the Company changed its reporting unit structure, which resulted in the reallocation of $25.9 million of goodwill from PSG to AMG based on the relative fair values of the businesses transferred. During the year ended December 31, 2022, the Company recorded $330.0 million of goodwill impairment charges and $56.8 million of intangible impairment charges The following table summarizes goodwill by operating and reportable segments (in millions): As of December 31, 2024 As of December 31, 2023 Operating and Reportable Segments Goodwill Accumulated Impairment Losses Reallocation Carrying Value Goodwill Accumulated Impairment Losses Carrying Value AMG $ 1,536.4 $ (748.9) $ 25.9 $ 813.4 $ 1,536.4 $ (748.9) $ 787.5 PSG 708.0 (31.9) (25.9) 650.2 708.0 (31.9) 676.1 ISG 124.3 — — 124.3 114.0 — 114.0 Total $ 2,368.7 $ (780.8) $ — $ 1,587.9 $ 2,358.4 $ (780.8) $ 1,577.6 The following table summarizes the change in goodwill (in millions): Net balance as of December 31, 2023 $ 1,577.6 Addition due to business acquisition 10.3 Net balance as of December 31, 2024 $ 1,587.9 There was no change in the balance of goodwill during the year ended December 31, 2023. Intangible Assets Intangible assets subject to amortization, net, were as follows (in millions): As of December 31, 2024 Original Accumulated Accumulated Impairment Losses Carrying Customer relationships $ 581.7 $ (483.5) $ (36.3) $ 61.9 Developed technology 956.3 (739.7) (40.7) 175.9 Licenses 30.0 (9.9) — 20.1 Other intangibles 79.1 (63.9) (15.2) — Total $ 1,647.1 $ (1,297.0) $ (92.2) $ 257.9 As of December 31, 2023 Original Accumulated Accumulated Impairment Losses Carrying Customer relationships $ 581.5 $ (473.3) $ (36.3) $ 71.9 Developed technology 939.6 (696.4) (40.7) 202.5 Licenses 30.0 (5.1) — 24.9 Other intangibles 79.1 (63.9) (15.2) — Total $ 1,630.2 $ (1,238.7) $ (92.2) $ 299.3 Amortization of acquisition-related intangible assets amounted to $58.3 million, $56.8 million and $82.8 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense for intangible assets is expected to be as follows over the next five years, and thereafter (in millions): 2025 $ 48.0 2026 41.8 2027 36.0 2028 31.0 2029 30.3 Thereafter 70.8 Total estimated amortization expense $ 257.9

Restructuring, Asset Impairment

Restructuring, Asset Impairments and Other Charges, net	12 Months Ended
	Dec. 31, 2024
Restructuring Charges [Abstract]
Restructuring, Asset Impairments and Other, net	Note 7: Restructuring, Asset Impairments and Other Charges, net Details of restructuring, asset impairments and other charges, net were as follows (in millions): Restructuring Asset Impairments Other Total Year ended December 31, 2024: 2024 Business Realignment $ 75.7 $ 37.8 (1) $ 16.3 (2) $ 129.8 Other 0.3 — 3.8 4.1 Total $ 76.0 $ 37.8 $ 20.1 $ 133.9 Year ended December 31, 2023: 2023 Business Realignment $ 59.1 $ 9.3 (1) $ 2.8 $ 71.2 Other (0.6) 10.2 (3) (5.9) 3.7 Total $ 58.5 $ 19.5 $ (3.1) $ 74.9 Year ended December 31, 2022: QCS wind down $ 12.6 $ 18.6 $ 18.9 (4) $ 50.1 Other (1.4) 4.0 (34.8) (5) (32.2) Total $ 11.2 $ 22.6 $ (15.9) $ 17.9 (1) Primarily relates to property, plant and equipment impairment charges associated with the business realignment efforts. (2) Primarily relates to equipment movement costs and accelerated amortization of ROU assets for certain leases. (3) Property, plant and equipment and ROU asset impairment charges related to the site consolidation efforts in the U.S. (4) Primarily relates to contract cancellation charges of approximately $15.4 million and legal charges of $3.5 million. (5) Primarily relates to the gain on the sale of two office buildings and the previous corporate headquarters. A summary of changes in accrued restructuring charges was as follows (in millions): Accrued Restructuring Balance as of December 31, 2022 $ 4.4 Charges 58.5 Usage (45.0) Balance as of December 31, 2023 17.9 Charges 76.0 Usage (39.5) Balance as of December 31, 2024 $ 54.4 Year ended December 31, 2024: 2024 Business Realignment During 2024, to further align with the "Fab Right" manufacturing strategy and consolidate its global footprint, the Company announced a restructuring plan that impacted approximately 1,500 employees. Approximately 1,200 employees were notified of their employment termination and around 300 additional employees were relocated to another onsemi site. The Company continues to evaluate employee positions and locations for potential operating improvements and efficiencies. In connection with these actions, the Company expects to incur severance costs, related benefit expenses and other ancillary charges totaling approximately $77.9 million, of which approximately $75.7 million was recognized during the year ended December 31, 2024. Certain of the employees notified of their employment termination are required to render future service beyond a minimum retention period in order to receive severance benefits, and the related expense will be recognized ratably over the respective service periods. Of the aggregate expenses relating to the actions announced in 2024, the Company paid approximately $39.5 million to approximately 1,100 terminated employees and had approximately $48.3 million accrued as of December 31, 2024. The remaining employees subject to this realignment are expected to be relocated or terminated and substantially all applicable severance and related benefit payments are expected to be paid over the next 12 months. Year ended December 31, 2023: 2023 Business Realignment During 2023, the Company announced the elimination of approximately 1,900 jobs in an effort to realign its operating models, drive organizational effectiveness and efficiencies, increase collaboration within its AMG (formerly "ASG") operating segment and IT support organizations, and right-size its workforce to consolidate manufacturing resources into fewer, common sites across the world to align with the next phase of the Company's multi-year "Fab Right" manufacturing strategy. As a result, AMG ceased its design and test operations in certain locations and there were changes in the IT operating model by transferring selected IT functions to strategic service providers. In connection with these actions, severance costs, related benefit expenses and other ancillary charges of $59.1 million were recorded during the year ended December 31, 2023. Of the aggregate expense, during the years ended December 31, 2024 and 2023, the Company paid $11.1 million and $41.9 million, respectively, in connection with the approximately 1,600 employees who exited and $6.1 million remained accrued as of December 31, 2024. Year ended December 31, 2022: QCS wind down On September 16, 2022, the Board of Directors approved an exit plan to wind down QCS as part of its ongoing efforts to focus on growth drivers and key markets, and to streamline its operations. As part of the exit plan, during the third quarter of 2022, the Company notified approximately 330 employees of their employment termination and incurred severance costs and other benefits of approximately $12.7 million. Approximately 304 employees exited during 2022 and the remaining employees exited during 2023. In connection with the exit plan, the Company recorded $18.9 million of exit costs, which primarily relate to contract cancellation charges and litigation charges. The Company impaired $8.0 million of property, plant and equipment as well as $10.6 million of other miscellaneous assets. The Company recorded inventory reserves associated with the QCS wind down of $24.5 million, which was recorded in cost of revenue.

Balance Sheet Information

Balance Sheet Information	12 Months Ended
	Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Information	Note 8: Balance Sheet Information Certain significant amounts included in the Company's Consolidated Balance Sheets consist of the following (in millions): As of December 31, 2024 2023 Inventories: Raw materials $ 349.8 $ 469.3 Work in process 1,391.9 1,221.1 Finished goods 500.3 421.4 Total $ 2,242.0 $ 2,111.8 Property, plant and equipment, net: Land $ 115.7 $ 117.8 Buildings and improvements 1,423.2 1,324.2 Machinery, equipment and other 6,781.3 6,489.0 Property, plant and equipment, gross 8,320.2 7,931.0 Less: Accumulated depreciation (3,958.8) (3,529.5) Total $ 4,361.4 $ 4,401.5 Accrued expenses and other current liabilities: Accrued payroll and related benefits $ 134.5 $ 183.8 Sales-related reserves 225.5 108.3 Contract liabilities 98.2 87.6 Income taxes payable 25.1 37.4 Other (1) 276.7 246.1 Total $ 760.0 $ 663.2 (1) The current portion of operating lease liabilities is included in this amount. See discussion below. Depreciation expense for property, plant and equipment totaled $523.6 million, $485.3 million and $398.1 million for the years ended December 31, 2024, 2023 and 2022, respectively. Included within sales-related reserves are ship and credit reserves for distributors amounting to $147.6 million and $74.3 million as of December 31, 2024 and 2023, respectively. Leases Operating and financing lease arrangements are comprised primarily of real estate and equipment agreements. The Company's existing leases do not contain significant restrictive provisions or residual value guarantees; however, certain leases contain renewal options and provisions for payment of real estate taxes, insurance and maintenance costs by the Company. The components of operating lease expense were as follows (in millions): Year ended December 31, 2024 2023 2022 Operating lease $ 54.7 $ 48.0 $ 47.8 Variable lease 5.0 5.1 9.8 Short-term lease 1.9 1.7 2.6 Total lease expense $ 61.6 $ 54.8 $ 60.2 The operating lease liabilities included in the Consolidated Balance Sheets were as follows (in millions): As of December 31, 2024 2023 Operating lease liabilities included in: Accrued expenses and other current liabilities $ 31.5 $ 33.0 Other long-term liabilities 244.7 231.0 Total $ 276.2 $ 264.0 Operating ROU assets included in: Other assets $ 249.7 $ 247.3 As of December 31, 2024, the weighted-average remaining lease-terms and weighted-average discount rates were 10.2 years and 17.2 years, and 5.2% and 5.7%, for operating and financing leases, respectively. As of December 31, 2024, there was an insignificant amount of commitments for operating leases that have not yet commenced. The reconciliation of the maturities of the operating and financing leases to the lease liabilities recorded in the Consolidated Balance Sheet as of December 31, 2024 was as follows (in millions): Operating Leases Financing Leases 2025 $ 44.2 $ 1.5 2026 40.1 1.6 2027 35.6 1.6 2028 30.5 1.7 2029 28.1 1.7 Thereafter 190.1 26.3 Total lease payments 368.6 34.4 Less: Interest (92.4) (13.4) Total lease liabilities $ 276.2 $ 21.0

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Note 9: Long-Term Debt The Company's long-term debt consists of the following (annualized interest rates, dollars in millions): As of December 31, 2024 2023 Revolving Credit Facility due 2028, interest payable monthly at 5.69% and 6.71% $ 375.0 $ 375.0 0.50% Notes due 2029 (1) 1,500.0 1,500.0 0% Notes due 2027 804.9 804.9 3.875% Notes due 2028 (2) 700.0 700.0 Gross long-term debt, including current maturities 3,379.9 3,379.9 Less: Unamortized debt discount (3) (3.4) (4.2) Less: Unamortized debt issuance costs (4) (30.6) (39.1) Net long-term debt, including current maturities 3,345.9 3,336.6 Less: Current maturities — (794.0) Net long-term debt $ 3,345.9 $ 2,542.6 (1) Interest is payable on March 1 and September 1 of each year at 0.50% annually. (2) Fixed rate note due September 1, 2028 with interest payable on March 1 and September 1 of each year at 3.875% annually. (3) Debt discount of $3.4 million and $4.2 million for the 3.875% Notes as of December 31, 2024 and December 31, 2023, respectively. (4) Debt issuance costs of $21.7 million and $26.8 million for the 0.50% Notes, $7.7 million and $10.9 million for the 0% Notes, $1.2 million and $1.4 million for the 3.875% Notes, in each case as of December 31, 2024 and December 31, 2023, respectively. The Company’s long-term debt instruments are senior unsecured obligations and are fully and unconditionally guaranteed, on a joint and several basis, by each of the Company’s subsidiaries that is a borrower or guarantor under the Revolving Credit Facility. Maturities Expected maturities of gross long-term debt (including current portion - see section regarding 0% Notes below) as of December 31, 2024 are as follows (in millions): Expected 2025 $ — 2026 — 2027 804.9 2028 1,075.0 2029 1,500.0 Thereafter — Total $ 3,379.9 Long-Term Debt Activity In 2023, the Company repaid $119.6 million of the remaining outstanding principal amount of the 1.625% Notes in cash and settled the excess over the principal amount by issuing 4.5 million shares of our common stock, which resulted in $422.0 million being recorded to additional paid-in capital and treasury stock, with no overall impact to equity. In 2024, all outstanding warrants related to the 1.625% Notes were settled entirely during the first quarter. See Note 10: ''Earnings Per Share and Equity'' for additional information regarding the warrant settlement. In 2023, the Company entered into a new $1.5 billion Revolving Credit Facility. In 2023, the Company completed the offering of $1.5 billion aggregate principal amount of its 0.50% Notes and utilized the net proceeds along with cash generated from operations to (i) repay $1,086.0 million of the outstanding indebtedness under the Term Loan “B” Facility and the related transaction fees and expenses and (ii) pay the $171.5 million net cost of the related convertible note hedges after such costs were offset by the proceeds from the sale of warrants. Revolving Credit Facility As of December 31, 2024, the Company had approximately $1,125.0 million available under the Revolving Credit Facility for future borrowings, except for amounts utilized for the letters of credit. Future borrowings are available for general corporate purposes, including working capital, capital expenditures, and acquisitions, but also include a $25.0 million sub-limit for the issuance of letters of credit and a foreign currency sub-limit of $75.0 million. The maturity date for the borrowings under the Credit Agreement is June 22, 2028. Interest is payable based on either Secured Overnight Financing Rate (“SOFR”) or base rate options, as established at the commencement of each borrowing period, plus an applicable rate that varies based on the total leverage ratio. Lenders are owed certain fees, including a commitment fee that varies based on the total leverage ratio. The Company may prepay loans under the Credit Agreement at any time, in whole or in part, upon payment of accrued interest and break funding payments, if applicable. The obligations are guaranteed by certain of the Company’s domestic subsidiaries and SCI LLC and are collateralized by, among other things, a pledge of the equity interests in certain of the Company’s and SCI LLC’s domestic subsidiaries and material first tier foreign subsidiaries. The affirmative and negative covenants are customary for credit agreements of this nature. The Credit Agreement contains customary events of default, the occurrence of which could result in the acceleration of the associated obligations. The financial covenant relates to a maximum total net leverage ratio of 4.00 to 1.00 calculated using the consolidated total indebtedness to consolidated earnings before interest, taxes, depreciation and amortization and other adjustments for the trailing four consecutive quarters. The Company was in compliance with the total net leverage ratio as of December 31, 2024. 0.50% Notes and 0% Notes The 0.50% Notes and 0% Notes are convertible and will mature on March 1, 2029 and May 1, 2027, respectively, unless earlier repurchased or redeemed by the Company or converted pursuant to their terms. The maximum number of shares of common stock issuable in connection with the conversion of the 0.50% Notes and 0% Notes is approximately 19.1 million and 21.7 million, respectively. As of December 31, 2024, neither the 0.50% Notes nor the 0% Notes were eligible for conversion by noteholders and as such, the 0% Notes were reclassified from current to long-term as of December 31, 2024. On or after the first business day of the month immediately prior to each note’s respective maturity date, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders of the notes may convert all or a portion of their respective notes at any time. The Company may redeem for cash all or any portion of the notes, at the Company’s option, on or after March 6, 2026 and May 1, 2024 in the case of the 0.50% Notes and 0% Notes, respectively, if the last reported sale price of the Company’s common stock has been at least 130% ($135.03 and $68.86 for the 0.50% Notes and 0% Notes, respectively) of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading-day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides the related notice of redemption at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The Company has not elected to redeem any portion of the 0% Notes. Prior to the respective dates upon which the holders may convert their notes at any time, the holders may convert their notes at their option only under the following circumstances: (i) during any calendar quarter commencing after the calendar quarter ending on December 31, 2024 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (ii) during the five The Company also entered into warrant transactions with certain other financial institutions, whereby the Company sold warrants to acquire 14.4 million and 15.2 million shares of the Company's common stock with respect to the 0.50% Notes and 0% Notes, respectively. The number of shares of the Company’s common stock acquired for each sale of warrants is the same covered by the associated convertible note. The maximum number of shares of common stock issuable in connection with the warrants is approximately 28.9 million and 30.4 million with respect to the 0.50% Notes and 0% Notes, respectively. In addition, for the 0.50% Notes and 0% Notes, the Company entered into convertible note hedge transactions with respect to the common stock with the initial purchasers or their affiliates and certain other financial institutions. The Company will exercise the note hedges simultaneously when the notes are settled. The convertible note hedges cover, subject to customary anti-dilution adjustments, the number of shares of common stock that initially underlie the associated note and that are expected to reduce the potential dilution to the common stock and/or offset potential cash payments in excess of the principal amount upon conversion of the notes. The Company analyzed both the warrant and convertible note hedge transactions under ASC 815-40 - "Derivatives and Hedging - Contracts in Entity's Own Equity" and determined that the instruments met the criteria for classification as an equity transaction with no subsequent remeasurement. See Note 10: ''Earnings Per Share and Equity'' for more information regarding outstanding warrants and convertible note hedges.

Earnings Per Share and Equity

Earnings Per Share and Equity	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Earnings Per Share and Equity	Note 10: Earnings Per Share and Equity Earnings Per Share Net income per share of common stock attributable to ON Semiconductor Corporation is shown below (in millions, except per share data): Year ended December 31, 2024 2023 2022 Net income for basic earnings per share of common stock $ 1,572.8 $ 2,183.7 $ 1,902.2 Add: Interest on 1.625% Notes — 1.3 2.0 Net income for diluted earnings per share of common stock $ 1,572.8 $ 2,185.0 $ 1,904.2 Basic weighted-average shares of common stock outstanding 427.4 430.7 433.2 Dilutive effect of share-based awards 0.6 1.2 1.8 Dilutive effect of convertible notes and warrants 4.7 14.9 13.2 Diluted weighted average shares of common stock outstanding 432.7 446.8 448.2 Net income per share of common stock: Basic $ 3.68 $ 5.07 $ 4.39 Diluted $ 3.63 $ 4.89 $ 4.25 Basic income per share of common stock is computed by dividing net income attributable to the Company by the weighted average number of shares of common stock outstanding during the period. To calculate the diluted weighted-average shares of common stock outstanding, treasury stock method has been applied to calculate the number of incremental shares from the assumed issuance of shares relating to RSUs. The excluded number of anti-dilutive share-based awards was approximately 0.5 million, 0.1 million and 0.3 million for the years ended December 31, 2024, 2023 and 2022, respectively. The dilutive impact related to the Company’s 0.50% Notes and 0% Notes has been calculated using the if-converted method. The 0.50% Notes and the 0% Notes are repayable in cash up to the par value and in cash or shares of common stock for the excess over par value. 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 0.50% Notes and 0% Notes when the stock price is above $103.87 and $52.97 per share, respectively. The dilutive impact of the warrants issued concurrently with the issuance of the 0.50% Notes and 0% Notes with exercise prices of $156.78 and $74.34, respectively, has been included in the calculation of diluted weighted-average common shares outstanding, if applicable. Warrants Settlement At the time of issuance of the 1.625% Notes, the Company sold warrants to bank counterparties whereby the holders of the warrants had the option to purchase the equivalent number of shares of the Company’s common stock at a price of $30.70 per share from the Company beginning on January 16, 2024. The bank counterparties exercised 6.7 million warrants during the first quarter of 2024, and the Company settled them by issuing 4.0 million shares of common stock on a net-share basis based on the average stock price on the day of exercise, for which no cash was exchanged. All outstanding warrants related to the 1.625% Notes were settled entirely during the quarter ended March 29, 2024. Equity Share Repurchase Program In February 2023, the Board of Directors approved a new share repurchase program (the “Share Repurchase Program”) under which the Company may repurchase up to an aggregate of $3.0 billion of the Company's common stock (exclusive of fees, commissions and other expenses). Under the Share Repurchase Program, which does not require the Company to purchase any minimum amount of common stock or at all, the Company may repurchase shares from February 8, 2023 through December 31, 2025. The repurchases under the Share Repurchase Program amounted to $650 million and $564 million for the year ended December 31, 2024 and 2023, respectively, excluding fees, commissions and excise tax. Under the Company's previous share repurchase program announced on November 15, 2018, the Company could repurchase up to $1.5 billion (exclusive of fees, commissions and other expenses) of the Company's common stock from December 1, 2018 through December 31, 2022. The repurchases under the previous share repurchase program amounted to approximately $260.0 million during the year ended December 31, 2022. The previous share repurchase program, which did not require the Company to purchase any particular amount of common stock and was subject to the discretion of the Board of Directors, expired on December 31, 2022, with approximately $1,036 million remaining unutilized. Activity under both the Share Repurchase Program and the previous program was as follows (in millions, except per share data): Year ended December 31, 2024 2023 2022 Number of repurchased shares (1) 9.1 7.6 4.0 Aggregate purchase price $ 650.0 $ 564.0 $ 259.8 Fees, commissions and excise tax 2.3 4.1 — Total $ 652.3 $ 568.1 $ 259.8 Weighted-average purchase price per share (2) $ 71.21 $ 74.54 $ 65.13 Available amounts $ 1,786.0 $ 2,436.0 $ 1,036.0 (1) None of these shares had been reissued or retired as of December 31, 2024 but may be reissued or retired later. (2) Exclusive of fees, commission or other expenses. During January 2025, the Company acquired, subject to a 10b5-1 trading arrangement, 1.6 million shares for $100.0 million under the Share Repurchase Program. Shares for Restricted Stock Units Tax Withholding The amounts remitted for tax withholding during the years ended December 31, 2024, 2023 and 2022 were $50.8 million, $67.1 million and $78.1 million, respectively, for which the Company withheld approximately 0.7 million, 0.8 million and 1.3 million shares of common stock, respectively, that were underlying the RSUs that vested. This activity in connection with tax withholding upon vesting was not made under the Share Repurchase Program or the previous share repurchase program. Non-Controlling Interest

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Note 11: Share-Based Compensation Total share-based compensation expense related to the Company's RSUs, stock grant awards and ESPP was recorded within the Consolidated Statements of Operations and Comprehensive Income as follows (in millions): Year ended December 31, 2024 2023 2022 Cost of revenue $ 24.6 $ 18.1 $ 12.0 Research and development 24.7 20.5 17.6 Selling and marketing 21.3 18.6 16.4 General and administrative 65.5 63.9 54.8 Share-based compensation expense 136.1 121.1 100.8 Income tax benefit (28.6) (25.4) (21.2) Share-based compensation expense, net of taxes $ 107.5 $ 95.7 $ 79.6 As of December 31, 2024, total unrecognized share-based compensation expense, net of estimated forfeitures, related to non-vested RSUs with service, performance and market conditions was $150.0 million, which is expected to be recognized over a weighted-average period of 1.6 years. Upon vesting of RSUs, stock grant awards or completion of a purchase under the ESPP, the Company issues new shares of common stock. Share-Based Compensation Information The fair value per unit of each RSU and stock grant award is determined on the grant date. Share-based compensation expense is based on awards ultimately expected to vest. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The annualized pre-vesting forfeitures for RSUs were estimated to be approximately 8% for the years ended December 31, 2024, 2023 and 2022. Plan and Award Descriptions On March 23, 2010, the Company adopted the Amended and Restated SIP which has been subsequently amended over the years primarily to increase the number of shares of common stock subject to all awards. Generally, RSUs granted under the Amended and Restated SIP vest ratably over three years for awards with service conditions and over two three On May 20, 2021, the Company's stockholders approved certain amendments to the Amended and Restated SIP to extend the expiration date from 2022 to 2031 and to increase the number of shares of common stock subject to all awards by 22.5 million to 109.5 million. As of December 31, 2024, there was an aggregate of 33.6 million shares of common stock available for grant under the Amended and Restated SIP. Restricted Stock Units A summary of activity of RSUs during the year ended December 31, 2024 was as follows (number of shares in millions): Number of Shares Weighted-Average Grant Date Fair Value Nonvested shares of RSUs at December 31, 2023 3.2 $ 69.39 Granted 2.3 $ 77.15 Achieved 0.3 $ 61.20 Released (1.9) $ 63.87 Forfeited (0.4) $ 73.28 Nonvested shares of RSUs at December 31, 2024 3.5 $ 76.27 The RSUs awarded during 2024 include RSUs that vest upon satisfaction of service conditions and 0.9 million RSUs granted to certain officers and employees of the Company that vest upon the achievement of certain performance criteria and market conditions. The number of units expected to vest is evaluated each reporting period and compensation expense is recognized for those units for which achievement of the performance criteria is considered probable. Compensation expense for RSUs with market conditions is recognized based on the grant date fair value irrespective of the achievement of the condition. The fair values of the vested awards are based on the stock price as of the vesting dates, and during the years ended December 31, 2024, 2023 and 2022 totaled $142.9 million, $202.6 million and $232.8 million, respectively. As of December 31, 2024, unrecognized compensation expense, net of estimated forfeitures related to non-vested RSUs granted under the Amended and Restated SIP with service, performance and market conditions, was $100.6 million, $12.6 million and $36.8 million, respectively. For RSUs with time-based service conditions, expense is being recognized over the vesting period; for RSUs with performance criteria, expense is recognized over the period when the performance criteria is expected to be achieved; for RSUs with market conditions, expense is recognized over the period in which the condition is assessed irrespective of whether it would be achieved or not. Unrecognized compensation cost for awards with certain performance criteria that are not expected to be achieved is not included here. Total compensation expense related to service-based, performance-based and market-based RSUs was $128.4 million for the year ended December 31, 2024, which included $75.1 million for RSUs with time-based service conditions that were granted in 2024 and prior that are expected to vest. Employee Stock Purchase Plan On February 17, 2000, the Company adopted the ESPP. During the years ended December 31, 2024, 2023 and 2022, employees purchased approximately 0.4 million, 0.4 million and 0.5 million shares, respectively, under the ESPP. On May 20, 2021, the stockholders approved an amendment to the ESPP, which increased the number of shares available to be issued pursuant to the ESPP by 6.0 million to 34.5 million. As of December 31, 2024, there were approximately 6.9 million shares available for issuance under the ESPP. Total compensation expense related to the ESPP for the year ended December 31, 2024 was $7.7 million.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Employee Benefit Plans	Note 12: Employee Benefit Plans Defined Benefit Pension Plans The Company maintains defined benefit pension plans for employees of certain of its foreign subsidiaries. Such plans conform to local practice in terms of providing minimum benefits mandated by law, collective agreements or customary practice. The Company recognizes the aggregate amount of all overfunded plans as assets and the aggregate amount of all underfunded plans as liabilities in its Consolidated Balance Sheets. The Company's expected long-term rate of return on plan assets is updated at least annually, taking into consideration its asset allocation, historical returns on similar types of assets and the current economic environment. For estimation purposes, the Company assumes its long-term asset mix will generally be consistent with the current mix. The Company determines its discount rates using highly rated corporate bond yields and government bond yields. Benefits under all of the plans are valued utilizing the projected unit credit cost method. The Company's policy is to fund its defined benefit plans in accordance with local requirements and regulations. The funding is primarily driven by the current assessment of the economic environment and projected benefit payments of foreign subsidiaries. The measurement date for determining the defined benefit obligations for all plans is December 31 of each year. The Company recognizes actuarial gains and losses during the period that the Company's annual pension plan actuarial valuations are prepared, which generally occurs during the fourth calendar quarter of each year, or during any interim period where a revaluation is deemed necessary. The Company recognized an actuarial gain of $12.2 million for the year ended December 31, 2024, an actuarial loss of $4.0 million for the year ended December 31, 2023 and an actuarial gain of $22.1 million for the year ended December 31, 2022. Of the actuarial gain for 2024, $9.5 million was primarily due to an increase in the discount rates and plan expense and $2.7 million was due to higher-than-expected returns on plan assets. The following tables summarize the status of the Company's foreign defined benefit pension plans and the net periodic pension cost (dollars in millions): Year ended December 31, 2024 2023 2022 Service cost $ 5.0 $ 4.7 $ 8.1 Interest cost 5.6 6.3 4.0 Expected return on plan assets (4.7) (4.7) (4.3) Actuarial (gains) losses (12.2) 4.0 (22.1) Total net periodic pension (gain) cost $ (6.3) $ 10.3 $ (14.3) Weighted average assumptions: Discount rate used for net periodic pension costs 3.28 % 3.27 % 1.54 % Discount rate used for pension benefit obligations 3.84 % 3.63 % 3.63 % Expected return on plan assets 3.65 % 3.46 % 2.98 % Rate of compensation increase 4.32 % 4.26 % 3.43 % The long-term rate of return on plan assets was determined using the weighted-average method, which incorporates factors that include the historical inflation rates, interest rate yield curve and current market conditions. As of December 31, 2024 2023 Change in projected benefit obligation ("PBO"): PBO at the beginning of the year $ 191.1 $ 185.5 Divestiture of business (21.5) — Service cost 5.0 4.7 Interest cost 5.6 6.3 Net actuarial (gain) loss (9.5) 7.8 Benefits paid by plan assets (12.8) (10.7) Benefits paid by the Company (4.2) (3.2) Participant contributions — 0.1 Translation and other (gain) loss (10.7) 0.6 PBO at the end of the year 143.0 191.1 Accumulated benefit obligation at the end of the year $ 116.8 $ 157.3 Change in plan assets: Fair value of plan assets at the beginning of the year $ 140.3 $ 131.7 Divestiture of businesses (22.2) — Actual return on plan assets 7.4 8.5 Benefits paid from plan assets (12.8) (10.7) Employer contributions 2.5 11.3 Translation and other loss (9.1) (0.5) Fair value of plan assets at the end of the year $ 106.1 $ 140.3 As of December 31, 2024 2023 Plans with underfunded or non-funded PBO: PBO $ 101.0 $ 118.2 Fair value of plan assets 42.1 50.2 Plans with underfunded or non-funded accumulated benefit obligation: Accumulated benefit obligation $ 76.4 $ 87.7 Fair value of plan assets 42.1 50.2 Amounts recognized in the balance sheet consist of: Current assets $ — $ 0.7 Non-current assets 22.5 16.4 Current liabilities (1.9) (1.4) Non-current liabilities (57.5) (66.5) Funded status $ (36.9) $ (50.8) The PBO and pension asset balances for the divested fab in Niigata, Japan were derecognized during 2024 upon approval from the appropriate authorities. See Note 5: ''Acquisitions and Divestitures'' for further discussion of the Niigata factory sale. Plan Assets The Company's overall investment strategy is to focus on stable and low credit risk investments aimed at providing a positive rate of return to the plan assets. The Company has an investment mix with a wide diversification of asset types and fund strategies that are aligned with each region and foreign location's economy and market conditions. Investments in government securities are generally guaranteed by the respective government offering the securities. Investments in corporate bonds, equity securities, and foreign mutual funds are made with the expectation that these investments will give an adequate rate of long-term returns despite periods of high volatility. Other types of investments include investments in cash deposits, money market funds and insurance contracts. Asset allocations are based on the anticipated required funding amounts, timing of benefit payments, historical returns on similar assets and the influence of the current economic environment. The following table sets forth, by level within the fair value hierarchy, a summary of investments measured at fair value and the asset allocations of the plan assets in the Company's foreign pension plans (in millions): As of December 31, 2024 Allocation Total Level 1 Level 2 Level 3 Asset Category: Cash/Money Markets 3 % $ 3.2 $ 3.2 $ — $ — Foreign government/treasury securities (1) 14 % 14.5 14.5 — — Corporate bonds, debentures (2) 24 % 25.3 — 25.3 — Equity securities (3) 34 % 36.1 — 36.1 — Investment and insurance contracts (4) 25 % 27.0 — 7.5 19.5 Total 100 % $ 106.1 $ 17.7 $ 68.9 $ 19.5 As of December 31, 2023 Allocation Total Level 1 Level 2 Level 3 Asset Category: Cash/Money Markets 2 % $ 3.5 $ 3.5 $ — $ — Foreign government/treasury securities (1) 7 % 9.9 9.9 — — Corporate bonds, debentures (2) 31 % 43.2 — 43.2 — Equity securities (3) 22 % 31.3 — 31.3 — Mutual funds 9 % 11.9 — 11.9 — Investment and insurance contracts (4) 29 % 40.5 — 16.0 24.5 Total 100 % $ 140.3 $ 13.4 $ 102.4 $ 24.5 (1) Includes investments primarily in guaranteed return securities (2) Includes investments in government bonds and corporate bonds of developed countries, emerging market government bonds, emerging market corporate bonds and convertible bonds (3) Includes investments in equity securities of developed countries and emerging markets (4) Includes certain investments with insurance companies that guarantee a minimum rate of return on the investment When available, the Company uses observable market data, including pricing on recently closed market transactions and quoted prices, which are included in Level 2. When data is unobservable, valuation methodologies using comparable market data are utilized and included in Level 3. Activity during the years ended December 31, 2024 and 2023, respectively, for plan assets with fair value measurement using significant unobservable inputs (Level 3) was as follows (in millions): Investment and Insurance Contracts Balance at December 31, 2022 $ 23.8 Actual return on plan assets 1.2 Purchase, sales and settlements, net (1.3) Foreign currency impact 0.8 Balance at December 31, 2023 24.5 Actual return on plan assets 0.8 Purchase, sales and settlements, net (4.5) Foreign currency impact (1.3) Balance at December 31, 2024 $ 19.5 The Company generally contributes to its foreign defined benefit plans based on specific plan or statutory requirements. In 2025, the Company expects contributions to be immaterial. The expected benefit payments from the Company's defined benefit plans from 2025 through 2029 and the five years thereafter are as follows (in millions): 2025 $ 7.6 2026 5.8 2027 8.1 2028 9.3 2029 12.9 Five years thereafter 55.4 Total $ 99.1 Defined Contribution Plans The Company has a deferred compensation savings plan for all eligible U.S. employees established under the provisions of Section 401(k) of the Internal Revenue Code. Eligible employees may contribute a percentage of their salary subject to certain limitations. The Company has elected to match 100% of employee contributions between 0% and 4% of their salary, with an annual limit as mandated by the Internal Revenue Service. The Company recognized $20.0 million, $19.9 million and $14.7 million of expense relating to matching contributions in 2024, 2023 and 2022, respectively. Certain foreign subsidiaries have defined contribution plans in which eligible employees participate. The Company recognized compensation expense of $23.7 million, $22.3 million and $20.5 million relating to these plans for the years ended 2024, 2023 and 2022, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13: Commitments and Contingencies Purchase Obligations The Company has agreements with suppliers, external manufacturers and other vendors for capital expenditures, inventory purchases, manufacturing services, information technology and other goods and services. The following is a schedule by year of future minimum purchase obligations under non-cancelable arrangements entered into during the ordinary course of business as of December 31, 2024 (in millions): 2025 $ 735.5 2026 350.9 2027 77.8 2028 46.0 2029 29.7 Thereafter 8.0 Total $ 1,247.9 Environmental Contingencies The Company currently leases its headquarters in Scottsdale, Arizona on Salt River Maricopa Indian Community property. Though the Company has encountered and dealt with a number of environmental issues over time relating to the various locations that comprise its operations, any costs to the Company in connection with such matters have not been, and, based on the information available, are not expected to be material. The following presents a summary of such environmental contingencies: • East Greenwich, Rhode Island . 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. • Santa Clara, California . As a result of the acquisition of AMIS in 2008, the Company is a "primary responsible party" to an environmental remediation and clean-up plan at AMIS’s former corporate headquarters in Santa Clara, California. Costs incurred by AMIS include 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 activities at this location. This facility was divested to Lincoln Property Company Commercial, Inc. in 2022. • South Portland, Maine . Through its acquisition of Fairchild, the Company acquired a facility in South Portland, Maine. This facility was divested to Diodes, Inc. in 2022. This facility has ongoing environmental remediation projects to respond to certain releases of hazardous substances that occurred prior to the leveraged recapitalization of Fairchild from its former parent company, National Semiconductor Corporation, which is now owned by TI. To the extent the Company could still incur liabilities with respect to these remediation projects, pursuant to a 1997 asset purchase agreement entered into in connection with the Fairchild recapitalization, National Semiconductor Corporation agreed to indemnify Fairchild, without limitation and for an indefinite period of time, for all future costs related to these projects. • Bucheon, South Korea . Under a 1999 asset purchase agreement pursuant to which Fairchild purchased the power device business of Samsung, Samsung agreed to indemnify Fairchild in an amount up to $150.0 million for remediation costs and other liabilities related to historical contamination at Samsung’s Bucheon, South Korea operations. • Mountain Top, Pennsylvania . Under a 2001 asset purchase agreement pursuant to which Fairchild purchased a manufacturing facility in Mountain Top, Pennsylvania, Intersil Corp. (subsequently acquired by Renesas Electronics Corporation) agreed to indemnify Fairchild for remediation costs and other liabilities related to historical contamination at the facility. • Hartford, Illinois . The Company was notified by the EPA that it has been identified as a PRP under the Comprehensive Environmental, Response, Compensation, and Liability Act in the Chemetco Superfund matter. Chemetco, a defunct reclamation services supplier that operated in Hartford, Illinois at what is now a Superfund site, has performed reclamation services for the Company in the past. The EPA is pursuing Chemetco customers for contribution to the site clean-up activities. The Company has joined a PRP group, which is cooperating with the EPA in the evaluation and funding of the clean-up activities. Financing Contingencies In the ordinary course of business, the Company provides standby letters of credit or other guarantee instruments to certain parties initiated by either the Company or its subsidiaries, as required for transactions, including, but not limited to, material purchase commitments, agreements to mitigate collection risk, leases, utilities or customs guarantees. As of December 31, 2024, the Company's Revolving Credit Facility included $25.0 million available for the issuance of letters of credit. There were $0.9 million letters of credit outstanding under the Revolving Credit Facility as of December 31, 2024, which reduced the Company's borrowing capacity. The Company also had outstanding guarantees and letters of credit outside of its Revolving Credit Facility totaling $6.6 million as of December 31, 2024. As part of obtaining financing in the ordinary course of business, the Company issued guarantees related to certain of its subsidiaries, which totaled $0.9 million as of December 31, 2024. 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, including acquisition agreements, 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. In the case of certain acquisition agreements, these agreements may require us to maintain such indemnification provisions for the acquiree’s directors, officers and other employees and agents, in certain cases for a number of years following the acquisition. The Company faces risk of exposure to warranty and product liability claims in the event that its products fail to perform as expected or such failure of its products results, or is alleged to result, in economic damage, bodily injury or property damage. In addition, if any of the Company’s designed products are alleged to be defective, the Company may be required to participate in their recall. Depending on the significance of any particular customer and other relevant factors, the Company may agree to provide more favorable rights to such customer for valid defective product claims. The Company and its subsidiaries provide for indemnification of directors, officers and other persons in accordance with limited liability company operating agreements, certificates of incorporation, by-laws, articles of association or similar organizational documents, as the case may be. Section 145 of the Delaware General Corporation Law ("DGCL") authorizes a court to award, or a corporation’s board of directors to grant, indemnity to directors and officers under certain circumstances and subject to certain limitations. The terms of Section 145 of the DGCL are sufficiently broad to permit indemnification under certain circumstances for liabilities, including reimbursement of expenses incurred, arising under the Exchange Act. As permitted by the DGCL, the Company’s Amended and Restated Certificate of Incorporation (as amended, the "Certificate of Incorporation") contains provisions relating to the limitation of liability and indemnification of directors and officers. The Certificate of Incorporation eliminates the personal liability of each of the Company’s directors to the fullest extent permitted by Section 102(b)(7) of the DGCL, as it may be amended or supplemented, and provides that the Company will indemnify its directors and officers to the fullest extent permitted by Section 145 of the DGCL, as amended from time to time. The Company has entered into indemnification agreements with each of its directors and executive officers. The form of agreement (the "Indemnification Agreement") provides, subject to certain exceptions and conditions specified in the Indemnification Agreement, that the Company will indemnify each indemnitee to the fullest extent permitted by Delaware law against all expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with a proceeding or claim in which such person is involved because of his or her status as one of the Company’s directors or executive officers. In addition, the Indemnification Agreement provides that the Company will, to the extent not prohibited by law and subject to certain exceptions and repayment conditions, advance specified indemnifiable expenses incurred by the indemnitee in connection with such proceeding or claim. The Company also maintains directors’ and officers’ insurance policies that indemnify its directors and officers against various liabilities, including certain liabilities under the Exchange Act, which might be incurred by any director or officer in his or her capacity as such. 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. Government Assistance 2024 Government Incentives The Company receives government incentives from U.S. federal and state governments and non-U.S. governments in the form of cash grants and tax abatements, which in most cases, attach conditions for a specific duration period, generally related to hiring, training and/or retaining employees, the construction or acquisition of assets and placing them in service or the development of specific technologies. If conditions are not satisfied or the duration period for the agreement is infringed, the incentives are subject to reduction, termination, or recapture. As of December 31, 2024, relating to government incentives, $86.3 million and $2.4 million were included in other current assets other non-current assets cost of revenue operating expenses The duration of the agreements for the incentives received by the Company in 2024 ranges from one 2023 Government Incentives As of December 31, 2023, relating to government incentives, $12.9 million and $5.2 million were included in other current assets other non-current assets accrued expenses and other current liabilities cost of revenue operating expenses 2022 Government Incentives During the year ended December 31, 2022, the Company received a nominal amount related to these programs. To the extent amounts have been received by the Company in advance of the completion of the conditions, they have been recorded as a liability. Legal Matters From time to time, the Company is party to various legal proceedings arising in the ordinary course of business, including indemnification claims, claims of alleged infringement of patents, trademarks, copyrights and other IP rights, claims of alleged non-compliance with contract provisions and claims related to alleged violations of laws and regulations. The Company evaluates the status of the legal proceedings in which it is involved to assess whether a loss is reasonably estimable and either remote, reasonably possible or probable of occurring. The Company further evaluates each legal proceeding to assess whether an estimate of possible loss or range of possible loss can be made for disclosure purposes. Although litigation is inherently unpredictable, the Company believes that it has adequate provisions for any probable and reasonably estimable losses. However, the Company’s estimates may not represent its maximum possible exposure in any particular legal proceeding. Legal expenses related to defense, negotiations, settlements, rulings and advice of outside legal counsel are expensed as incurred. The Company is currently involved in a variety of legal matters that arise in the ordinary course of business. Based on information currently available, except as disclosed below (if any), the Company is not involved in any pending or threatened legal proceedings that it believes could reasonably be expected to have a material adverse effect on its financial condition, results of operations or liquidity. The litigation process is inherently uncertain, and the Company cannot guarantee that the outcome of any litigation matter will be favorable to the Company. Securities Class Action and Derivative Litigation Concerning the Company's SiC Business On December 13, 2023, a putative class action captioned Hubacek v. On Semiconductor Corp., et al., Case No. 1:23-cv-01429 (D. Del.) ("Hubacek"), was filed by an alleged stockholder of the Company in the U.S. District Court for the District of Delaware against the Company and certain of its officers. This action was transferred to the U.S. District Court for the District of Arizona in March of 2024. The initial complaint asserted claims for alleged violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The initial complaint alleged that the defendants made misleading statements regarding the Company's SiC business. An amended complaint was filed on May 31, 2024. The amended complaint again asserts claims for alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The plaintiff seeks a ruling that this case may proceed as a class action, and seeks damages, attorneys’ fees and costs. The Company filed a motion to dismiss the amended complaint on July 30, 2024. Upon reviewing the Company’s motion to dismiss the amended complaint, plaintiff deemed it necessary to further amend their complaint. On September 6, 2024, plaintiff filed their second amended complaint. The Company filed its motion to dismiss this second amended complaint on October 10, 2024. Full briefing for this motion to dismiss the second amended complaint was completed on December 20, 2024. The Company expects the court to make a ruling on this motion to dismiss in the first half of 2025. The Company believes that it has strong legal defenses to the claims asserted, and will vigorously defend them. On January 3, 2024, a purported stockholder derivative action captioned Silva v. El-Khoury, et al., Case No. 1:24-cv-00007 (D. Del.) ("Silva"), was filed by a purported stockholder of the Company in the U.S. District Court for the District of Delaware. On February 12, 2024, a purported stockholder derivative action captioned Smalley et al. v. El-Khoury et al. Case No. 1:24-cv-00183 (D. Del.) ("Smalley"), was filed by a purported stockholder of the Company in the U.S. District Court for the District of Delaware. Both aforementioned derivative actions, Silva and Smalley, were voluntarily dismissed without prejudice on April 15, 2024. On February 28, 2024, a purported stockholder derivative action captioned Mumme et al. v. El-Khoury et al. Case No. CV2024-003974 (D. AZ.) ("Mumme"), was filed by a purported stockholder of the Company in the Superior Court of the State of Arizona in and for the County of Maricopa and on March 15, 2024, a purported stockholder derivative action captioned Chan et al. v. Abe et al. Case No. 2:24-cv-00552 (D. AZ.) ("Chan"), was filed by a purported stockholder of the Company in the U.S. District Court for the District of Arizona. The allegations in these derivative complaints are substantially similar to the allegations in the securities class action complaint discussed above. The derivative suits purport to assert claims (1) on behalf of the Company against certain of its officers for contribution under the federal securities laws and (2) against all of the defendants for breach of fiduciary duty, aiding and abetting, unjust enrichment, abuse of control, gross mismanagement, and waste. The plaintiffs seek an award of damages, pre-judgment interest, punitive damages, attorneys’ fees, and other costs and expenses related to the litigation. The Company believes that the plaintiffs lack standing to assert claims on the Company’s behalf. These two pending derivative actions, Mumme and Chan, were stayed by court order, pending the resolution of Hubacek. Intellectual Property Matters The Company faces risk of exposure from claims of infringement of the IP rights of others. In the ordinary course of business, the Company receives letters asserting that the Company’s products or components breach another party’s rights. Such letters may request royalty payments from the Company, that the Company cease and desist using certain IP or other remedies.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 14: Fair Value Measurements Fair Value of Financial Instruments The following fair value tier level hierarchy is used to determine fair values of financial instruments: • Level 1: based on observable inputs that reflect quoted prices for identical assets or liabilities in active markets. • Level 2: based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly. • Level 3: based on the use of unobservable inputs for the assets and liabilities and other types of analyses. The carrying value of cash and cash equivalents, which include money market funds and demand and time deposits, approximate fair value because of the short-term maturity of these instruments. The carrying amount of other current assets and liabilities, such as accounts receivable and accounts payable, approximates fair value due to the short-term maturity of the amounts, and such amounts are considered Level 2 in the fair value hierarchy. The Company held $300.0 million of short-term investments in time deposits and an insignificant amount of cash equivalents in the form of time deposits and money market funds as of December 31, 2024. The Company held an insignificant amount of investments in money market funds and no cash equivalents in the form of demand deposits or time deposits or investments in other assets as of December 31, 2023. Money market funds and demand deposits are classified as Level 1, while time deposits are classified as Level 2 within the fair value hierarchy. Fair Value of Long-Term Debt, including Current Portion The carrying amounts and fair value of the Company’s long-term borrowings were as follows (in millions): As of December 31, 2024 2023 Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt, including current portion (1) : Revolving Credit Facility $ 375.0 $ 373.4 $ 375.0 $ 390.6 0.50% Notes 1,478.2 1,450.4 1,473.1 1,596.6 0% Notes 797.2 1,054.4 794.0 1,334.4 3.875% Notes 695.5 656.3 694.4 652.0 (1) Long-term debt is carried on the Consolidated Balance Sheets at historical cost net of debt discount and issuance costs. The fair value of the 0% Notes, 0.50% Notes and 3.875% Notes was estimated based on market prices in active markets (Level 1), and the Revolving Credit Facility was estimated based on discounting the remaining principal and interest payments using current market rates for similar debt (Level 2). Fair Values Measured on a Non-Recurring Basis The Company's non-financial assets, such as property, plant and equipment, goodwill and intangible assets, are recorded at fair value upon a business combination and are remeasured at fair value only if an impairment charge is recognized. The Company uses unobservable inputs to the valuation methodologies that are significant to the fair value measurements, and the valuations require management's judgment due to the absence of quoted market prices. The Company determines the fair value of its held and used assets, goodwill and intangible assets using an income, cost or market approach as determined reasonable. During the years ended December 31, 2024, 2023 and 2022, there were no non-financial assets included in the Company's Consolidated Balance Sheet that were remeasured at fair value on a non-recurring basis. The following table shows the adjustments to fair value of certain of the Company's non-financial assets that had an impact on the Company's results of operations (in millions): Year ended December 31, 2024 2023 2022 Nonrecurring fair value measurements: Goodwill impairments (Level 3) $ — $ — $ 330.0 Intangibles impairment (Level 3) — — 56.8 Asset impairments (Level 3) 37.8 10.5 14.8 Total $ 37.8 $ 10.5 $ 401.6

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2024
Investments, All Other Investments [Abstract]
Financial Instruments	Note 15: 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 and 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 December 31, 2024 and 2023, the Company had outstanding foreign exchange contracts with notional amounts of $256.8 million and $262.2 million, respectively. Such contracts were obtained through financial institutions and were scheduled to mature within two 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 gains and losses on the underlying assets, liabilities and transactions to which they are related. The following schedule summarizes the Company's net foreign exchange positions in U.S. dollars (in millions): As of December 31, 2024 2023 Buy (Sell) Notional Amount Buy (Sell) Notional Amount Euro $ 71.1 $ 71.1 $ 64.6 $ 64.6 Philippine Peso 41.0 41.0 47.3 47.3 Korean Won (39.5) 39.5 (14.3) 14.3 Japanese Yen 35.0 35.0 55.2 55.2 Czech Koruna 24.0 24.0 16.8 16.8 Other currencies - Buy 39.6 39.6 54.4 54.4 Other currencies - Sell (6.6) 6.6 (9.6) 9.6 Total $ 164.6 $ 256.8 $ 214.4 $ 262.2 Amounts receivable or payable under the contracts were not material as of December 31, 2024 and 2023, and are included in other current assets or accrued expenses and other current liabilities in the accompanying Consolidated Balance Sheets. Realized and unrealized foreign currency transactions totaled a gain of $0.9 million for the year ended December 31, 2024 and a loss of $7.9 million and $0.7 million for the years ended December 31, 2023 and 2022, respectively. The realized and unrealized foreign currency transactions are included in other income (expense) in the Company's Consolidated Statements of Operations and Comprehensive Income. Cash Flow Hedges Foreign currency risk During 2023, the Company entered into foreign currency forward contracts to hedge its exposure to foreign currency exchange rate risk related to future forecasted transactions denominated in certain currencies other than the U.S. dollar. These contracts generally mature within 12 months and are designated as cash flow hedges for accounting purposes. As of December 31, 2024 and 2023, the notional value of outstanding foreign currency forward contracts designated as cash flow hedges was $145.1 million and $92.2 million, respectively, with a fair value of $8.2 million recorded as accrued expenses and other current liabilities for 2024 and $0.9 million recorded as other current assets for 2023. A loss of $10.0 million and $0.1 million was recognized as a component of cost of revenue for the years ended December 31, 2024 and 2023, respectively. The Company did not identify any ineffectiveness with respect to the notional amounts of the foreign currency forward contracts effective as of December 31, 2024. Interest rate risk During 2023, the Company terminated its interest rate swap agreements with a notional value of $500 million, received cash proceeds of $27.7 million, net of termination fees, and recognized $6.9 million of other income related to the termination. At the time of termination, approximately $20.7 million was recorded in accumulated other comprehensive loss, of which $11.9 million and $6.9 million were subsequently recognized as other income during the years ended December 31, 2024 and 2023, respectively, with the remaining portion recognized as part of the loss on debt refinancing and prepayment during 2023. See Note 17: ''Changes in Accumulated Other Comprehensive Loss'' for the effective amounts related to derivative instruments designated as cash flow hedges affecting accumulated other comprehensive loss and the Consolidated Statements of Operations and Comprehensive Income for the year ended December 31, 2024. Convertible Note Hedges The Company entered into convertible note hedges in connection with the issuance of the 0% Notes, 0.50% Notes and 1.625% Notes. See Note 9: ''Long-Term Debt'' for more information. Other As of December 31, 2024, the Company had no outstanding commodity derivatives, currency swaps, options or equity investments held at subsidiaries or affiliated companies. The Company does not hedge the value of its equity investments in its subsidiaries or affiliated companies.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 16: Income Taxes The Company's geographic sources of income before income taxes were as follows (in millions): Year ended December 31, 2024 2023 2022 United States $ 1,584.3 $ 2,222.2 $ 1,979.8 Foreign 253.1 313.6 382.4 Income before income taxes $ 1,837.4 $ 2,535.8 $ 2,362.2 The Company's provision for income taxes was as follows (in millions): Year ended December 31, 2024 2023 2022 Current: Federal $ 276.6 $ 372.7 $ 331.9 State and local 20.4 21.6 31.8 Foreign 52.0 76.9 73.8 Total 349.0 471.2 437.5 Deferred: Federal (58.2) (107.9) (36.9) State and local (18.1) 13.2 25.7 Foreign (9.9) (26.3) 32.1 Total (86.2) (121.0) 20.9 Total provision $ 262.8 $ 350.2 $ 458.4 A reconciliation of the U.S. federal statutory income tax rate to the Company's effective income tax rate was as follows: Year ended December 31, 2024 2023 2022 U.S. federal statutory rate 21.0 % 21.0 % 21.0 % Increase (decrease) resulting from: State and local taxes, net of federal tax benefit 0.4 0.7 1.7 Impact of foreign operations 1.4 0.3 1.7 Foreign derived intangible income benefit (6.9) (6.8) (7.4) Nondeductible goodwill — — 3.1 Change in valuation allowance and related effects (1) 0.2 0.5 (0.1) Share-based compensation costs 0.2 (0.2) (0.5) U.S. federal R&D credit (1.1) (0.4) (0.2) Non-deductible officer compensation 0.4 0.3 0.3 Impact of audit settlement (0.7) (1.8) — Other (0.6) 0.2 (0.2) Total 14.3 % 13.8 % 19.4 % (1) For the year ended December 31, 2024, this included a benefit of $7.5 million, or 0.4% related to the decrease in the valuation allowance for the expiration of Japan net operating losses ("NOLs"), partially netted with an offsetting expense of $6.2 million or 0.3% related to the expiration of those same Japan NOLs. For the year ended December 31, 2023, this included a benefit of $13.7 million, or 0.5% related to a decrease in the valuation allowance for the expiration of Japan NOLs, partially netted with an offsetting expense of $15.3 million or 0.6% related to the expiration of those same Japan NOLs. For the year ended December 31, 2022, this included a benefit of $55.6 million, or 2.4% related to a decrease in the valuation allowance for the expiration of Japan NOLs, partially netted with an offsetting expense of $54.3 million, or 2.3% related to the expiration of those same Japan NOLs. The tax effects of temporary differences in the recognition of income and expense for tax and financial reporting purposes that give rise to significant portions of the net deferred tax asset (liability) were as follows (in millions): As of December 31, 2024 2023 NOL and tax credit carryforwards $ 308.7 $ 227.6 163 (j) interest expense carryforward 4.4 4.6 Lease liabilities 57.6 59.7 ROU asset (52.7) (58.9) Tax-deductible goodwill and amortizable intangibles (31.6) (32.2) Capitalization of research and development expenses 523.7 419.9 Reserves and accruals 61.7 60.2 Property, plant and equipment (122.1) (165.1) Inventories 116.0 134.2 Undistributed earnings of foreign subsidiaries (77.8) (67.7) Share-based compensation 10.4 9.7 Pension 0.2 5.8 Convertible Debt 89.0 108.1 Other 21.0 6.5 Deferred tax assets and liabilities before valuation allowance 908.5 712.4 Valuation allowance (216.2) (150.3) Net deferred tax asset $ 692.3 $ 562.1 The Company has investment tax credits, which are accounted for pursuant to ASC 740, in Korea and the Czech Republic. The Company uses the deferral method of accounting for investment tax credits under which the credits are recognized as reductions in the carrying value of the related assets. Deferred tax related to differences in GAAP versus tax carrying value is recorded pursuant to the gross-up method. Further, the Company analyzes the need for a valuation allowance related to these credits, and as of December 31, 2024, the Company recorded a partial valuation of $67.9 million against the Korea investment tax credits forecasted to expire unutilized. See Schedule II - "Valuation and Qualifying Accounts" included elsewhere in this Form 10-K. As of December 31, 2024 and 2023, the Company had approximately $4.4 million and $22.2 million, respectively, of U.S. federal NOL carryforwards, before the impact of unrecognized tax benefits. The decrease is due to current year utilization. These NOL carryforwards can be carried forward indefinitely until utilized. As of December 31, 2024 and 2023, the Company had approximately $0.5 million and $6.6 million, respectively, of U.S. federal credit carryforwards, before consideration of the impact of unrecognized tax benefits and the valuation allowance. The credits will expire in 2033 if unutilized. These NOL and credit carryforwards relate to acquisitions and, consequently, are limited in the amount that can be utilized in any one year. As of December 31, 2024 and 2023, the Company had approximately $245.7 million and $273.3 million, respectively, of U.S. state NOL carryforwards, before consideration of valuation allowance or the impact of unrecognized tax benefits. The decrease is primarily due to current year utilization. The U.S. state NOL carryforwards will expire in varying amounts from 2025 to 2041, if unutilized. As of December 31, 2024 and 2023, the Company had $110.2 million and $111.8 million, respectively, of U.S. state credit carryforwards before consideration of valuation allowance or the impact of unrecognized tax benefits. The U.S. state credits will expire in varying amounts beginning in 2025 while a substantial amount of the state credits carryforward indefinitely. As of December 31, 2024 and 2023, the Company had approximately $244.1 million and $232.3 million, respectively, of foreign NOL carryforwards, before consideration of valuation allowance. The increase is primarily due to generation of NOLs. As of December 31, 2024 and 2023, the Company had $157.6 million and $93.5 million, respectively, of foreign credit carryforwards before consideration of valuation allowance. A significant portion of the foreign NOLs and credit carryforwards will expire in varying amounts prior to 2035, if unutilized. The Company maintains a partial valuation allowance of $90.9 million, net of federal benefit on its U.S. state deferred tax assets, primarily NOLs and credits. The remaining valuation allowance of $125.3 million primarily relates to NOLs and tax credits in certain other foreign jurisdictions that primarily expire in 2025. As of December 31, 2024, the Company was not indefinitely reinvested with respect to the earnings of its foreign subsidiaries and has therefore accrued withholding taxes that would be owed upon future distributions of such earnings. The activity for unrecognized gross tax benefits was as follows (in millions): 2024 2023 2022 Balance at beginning of year $ 67.7 $ 136.8 $ 137.2 Additions for tax benefits related to the current year 5.2 3.4 3.3 Additions for tax benefits of prior years 1.4 0.7 0.5 Reductions for tax benefits of prior years (22.3) (48.0) (0.3) Lapse of statute (4.0) (9.9) (3.8) Settlements (2.3) (15.3) (0.1) Balance at end of year $ 45.7 $ 67.7 $ 136.8 Included in the December 31, 2024 balance of $45.7 million is $38.5 million related to unrecognized tax benefits that, if recognized, would affect the annual effective tax rate. Also included in the balance of unrecognized tax benefits as of December 31, 2024 is $7.2 million of benefit that, if recognized, would result in adjustments to other tax accounts, primarily deferred taxes. Although the Company cannot predict the timing of resolution with taxing authorities, if any, the Company believes it is reasonably possible that its unrecognized tax benefits will be reduced by $3.8 million in the next 12 months due to settlement with tax authorities or expiration of the applicable statute of limitations. The Company recognizes interest and penalties accrued related to uncertain tax positions in tax expense in the Consolidated Statements of Operations and Comprehensive Income. The Company recognized approximately $1.6 million of net tax expense, $0.8 million of net tax benefit and $1.4 million of tax expense for interest and penalties during the year ended December 31, 2024, 2023 and 2022, respectively. The Company had approximately $3.6 million, $2.0 million, and $2.7 million of accrued interest and penalties as of December 31, 2024, 2023, and 2022, respectively.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	Note 17: Changes in Accumulated Other Comprehensive Loss Amounts comprising the Company's accumulated other comprehensive loss and reclassifications were as follows (in millions): Currency Translation Adjustments Effects of Cash Flow Hedges Total Balance December 31, 2022 $ (50.4) $ 27.2 $ (23.2) Other comprehensive income (loss) prior to reclassifications (2.1) 0.9 (1.2) Amounts reclassified from accumulated other comprehensive loss — (20.8) (20.8) Net current period other comprehensive loss (1) (2.1) (19.9) (22.0) Balance December 31, 2023 (52.5) 7.3 (45.2) Other comprehensive income (loss) prior to reclassifications (3.4) 8.1 4.7 Amounts reclassified from accumulated other comprehensive loss — (21.9) (21.9) Net current period other comprehensive loss (1) (3.4) (13.8) (17.2) Balance December 31, 2024 $ (55.9) $ (6.5) $ (62.4) (1) Effects of cash flow hedges are net of $2.0 million of tax benefit and $0.2 million of tax expense for the years ended December 31, 2024 and 2023, respectively. Amounts reclassified from accumulated other comprehensive loss to the specific caption within the Consolidated Statements of Operations and Comprehensive Income were as follows (in millions): Year ended December 31, 2024 2023 To caption Cash flow hedges $ (10.0) $ (0.1) Cost of revenue Interest rate swaps — (13.8) Interest expense Interest rate swaps terminations (11.9) (6.9) Other Income Total $ (21.9) $ (20.8)

Supplemental Disclosures

Supplemental Disclosures	12 Months Ended
	Dec. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures	Note 18: Supplemental Disclosures Supplemental Disclosure of Cash Flow Information Certain of the Company's cash and non-cash activities were as follows (in millions): Year ended December 31, 2024 2023 2022 Non-cash investing activities: Capital expenditures in accounts payable and other long-term liabilities $ 210.4 $ 303.0 $ 324.8 Operating ROU assets obtained in exchange of lease liabilities 53.8 25.8 140.1 Finance ROU assets obtained in exchange of lease liabilities 0.5 — 25.4 Amount due to seller in connection with the EFK acquisition — — 236.3 Cash paid for: Interest expense $ 62.7 $ 73.2 $ 80.7 Income taxes 347.5 428.2 443.2 Operating lease payments in operating cash flows 44.2 45.7 42.5 Following is a reconciliation of the captions in the Consolidated Balance Sheets to the Consolidated Statements of Cash Flows (in millions): As of December 31, 2024 2023 2022 Consolidated Balance Sheets: Cash and cash equivalents $ 2,691.3 $ 2,483.0 $ 2,919.0 Restricted cash (included in other current assets) 2.1 2.0 14.0 Cash, cash equivalents and restricted cash in Consolidated Statements of Cash Flows $ 2,693.4 $ 2,485.0 $ 2,933.0

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 19: Subsequent Events On January 14, 2025, the Company completed the acquisition of the Silicon Carbide Junction Field-Effect Transistor ("SiC JFET") technology business from Qorvo US, Inc., and certain of its subsidiaries, for $118.8 million in cash, subject to working capital adjustments. The acquired SiC JFET technology expands the Company's EliteSiC power portfolio within the PSG reportable segment and enables the Company to help address the need for high energy efficiency and power density in the AC-DC stage in power supply units for AI data centers. Due to the timing of the transaction, a preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed could not be provided, and is expected to be completed by the end of the first fiscal quarter of 2025.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	The table below details the activity of the valuation allowance against assets for the years ended December 31, 2024, 2023 and 2022 (in millions): Description Balance at Beginning of Period Charged (Credited) to Income Charged to Other Accounts Deductions/Write-offs Balance at End of Period Allowance for deferred tax assets Year ended December 31, 2022 $ 227.4 $ 7.0 $ (16.7) (1) $ (65.3) (2) $ 152.4 Year ended December 31, 2023 152.4 0.4 0.2 (1) (2.7) (2) 150.3 Year ended December 31, 2024 150.3 5.1 68.6 (3) (7.8) (2) 216.2 (1) Primarily represents the effects of cumulative translation adjustments. (2) Primarily relates to the expiration of Japan net operating losses. See Note 16: ''Income Taxes'' in the notes to our audited consolidated financial statements included elsewhere in this Form 10-K. (3) Primarily relates to the valuation allowance recorded against Korea Investment Tax Credits, accounted for under the deferral method. The benefit of the ITC was recognized as a reduction in the carrying value of the related assets. In addition to the ITC, this amount was partially offset by cumulative translation adjustments. See Note 16: ''Income Taxes'' in the notes to our audited consolidated financial statements included elsewhere in this form 10-K.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 1,572.8	$ 2,183.7	$ 1,902.2

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	12 Months Ended
	Dec. 31, 2024 shares	Dec. 31, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Alan Campbell [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Alan Campbell, the Chair of our Board of Directors, adopted a Rule 10b5-1 trading arrangement on December 11, 2024. Under this arrangement, a total of 25,371 shares of our common stock may be sold, subject to certain conditions, before the plan expires on December 31, 2025.
Name	•Alan Campbell
Title	Chair of our Board of Directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 11, 2024
Expiration Date	December 31, 2025
Arrangement Duration	385 days
Aggregate Available	25,371	25,371
Hassane El-Khoury [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Hassane El-Khoury, our President and Chief Executive Officer, and a director, adopted a Rule 10b5-1 trading arrangement on December 11, 2024. Under this arrangement, a total of 13,500 shares of our common stock may be sold, subject to certain conditions, before the plan expires on December 31, 2025.
Name	•Hassane El-Khoury
Title	President and Chief Executive Officer, and a director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 11, 2024
Expiration Date	December 31, 2025
Arrangement Duration	385 days
Aggregate Available	13,500	13,500
Thad Trent [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Thad Trent, our Executive Vice President, Chief Financial Officer and Treasurer, adopted a Rule 10b5-1 trading arrangement on December 11, 2024. Under this arrangement, a total of 105,000 shares of our common stock may be sold, subject to certain conditions, before the plan expires on December 31, 2025.
Name	•Thad Trent
Title	Executive Vice President, Chief Financial Officer and Treasurer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 11, 2024
Expiration Date	December 31, 2025
Arrangement Duration	385 days
Aggregate Available	105,000	105,000

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	The secure processing, maintenance and transmission of sensitive data, including confidential and other proprietary information about our business and our employees, customers, suppliers and business partners, is important to our operations and business strategy. As a result, cybersecurity and data protection are key components of our long-term strategy. We use various processes to inform our assessment, identification and management of risk from cybersecurity threats. Key areas of our cybersecurity risk management processes and strategy currently include: • Cross-Functional Collaboration and Coordination . Our Enterprise Cybersecurity Services (“ECS”) team, led by our Chief Information Security Officer (“CISO”), has first line responsibility for our cybersecurity risk management processes. The ECS team works in partnership with other internal teams to coordinate efforts, priorities and oversight. These include: ◦ our Cybersecurity Executive Council (the “Council”), which is composed of key leaders from stakeholder groups throughout the Company, including the CISO and certain members of senior management; ◦ our Enterprise Risk Management (“ERM”) team, which is responsible for evaluating and assessing overall enterprise risk, including cybersecurity risk, and advising senior management and the Board regarding our overall risk profile and priorities as they evolve; ◦ our Internal Audit Department (“IAD”), which monitors certain IT systems controls that are integrated into our larger Sarbanes-Oxley control environment; and ◦ our Cyber Incident Response Team (“CIRT”), a cross-functional team of subject matter experts from across the Company and certain third-party support providers that we have on retainer. • Ongoing Evaluation and Assessment of Systems and Processes . We update our information security management system from time to time as appropriate and we employ standards and frameworks as we deem necessary to assist us in monitoring compliance with regulatory, industry and evolving data privacy requirements. In addition to periodic in-depth evaluations of our systems and processes, we monitor our IT systems and processes on an ongoing basis with the goal of identifying and remediating real and potential threats as they arise. We adjust our systems, procedures and policies regularly as we deem necessary in response to identified threats and risks. • Security Awareness Program to Train and Test Personnel . We sponsor a multi-faceted security awareness program that includes mandatory trainings for our personnel on data protection and malware detection, policy and process awareness, periodic phishing simulations and other kinds of preparedness testing. • Cyber Incident Response Plan . We maintain a cross-functional cyber incident response plan with defined roles, responsibilities and reporting protocols. This plan, which we evaluate and test on a regular basis, focuses on responding to and recovering from any significant breach as well as mitigating any impact to our business. Generally, when a breach or suspected breach is identified, the ECS team would escalate the issue to the Council for initial analysis and guidance. In the event of a significant breach, the CIRT, overseen by the Council, would typically be tasked with preparing an initial response. The Council (in consultation with, among others, the CIRT) would be responsible for determining whether a particular incident (alone or in combination with other factors) triggers any reporting or notification responsibilities. • Regular Evaluation of Initiatives, Results and Priorities . The ECS team, in consultation with the Council and other members of senior management, updates its strategy at least annually to account for changes in our business strategy, legal and regulatory developments across our geographic footprint, the results of our recent ECS initiatives, and further developments in the cybersecurity threat landscape. In addition, we periodically engage a third-party provider to conduct an external assessment of our security program. The results of this assessment, which are reported to the Audit Committee (and the Board, as appropriate), assist us in determining whether any further changes to our existing policies and practices are warranted. We expect that our cybersecurity risk management processes and strategy will continue to evolve as the cybersecurity threat landscape evolves. As indicated above, we engage third-party providers to assist us with our cybersecurity risk management and strategy. Some of these providers provide us with ongoing assistance (such as threat monitoring, mitigation strategies, updates on emerging trends and developments and policy guidance) while we engage others to provide targeted assistance (such as security and forensic expertise) as needed. Prior to exchanging any sensitive data or integrating with any key third-party provider, we assess their security fitness against our risk posture and request changes as we deem necessary. As of December 31, 2024, we have not identified any risks from cybersecurity threats (including any previous cybersecurity incidents) that have materially affected the Company, our business strategy, our results of operations or our financial condition. For a discussion of risks from cybersecurity threats that could be reasonably likely to materially affect us, please see our Risk Factors discussion under the heading, “Trends, Risks and Uncertainties Related to Technology and Data Privacy” included elsewhere in this Form 10-K.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	he ECS team works in partnership with other internal teams to coordinate efforts, priorities and oversight. These include: ◦ our Cybersecurity Executive Council (the “Council”), which is composed of key leaders from stakeholder groups throughout the Company, including the CISO and certain members of senior management; ◦ our Enterprise Risk Management (“ERM”) team, which is responsible for evaluating and assessing overall enterprise risk, including cybersecurity risk, and advising senior management and the Board regarding our overall risk profile and priorities as they evolve; ◦ our Internal Audit Department (“IAD”), which monitors certain IT systems controls that are integrated into our larger Sarbanes-Oxley control environment; and ◦ our Cyber Incident Response Team (“CIRT”), a cross-functional team of subject matter experts from across the Company and certain third-party support providers that we have on retainer.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Board Oversight . Our Board has delegated to its Audit Committee specific, first-line responsibility for overseeing major cybersecurity risk exposures in addition to our broader ERM program. Specifically, under its charter, the Audit Committee is responsible for overseeing our cybersecurity posture, risk assessment, strategy and mitigation and for making recommendations to address and resolve any breaches or issues related to the protection or privacy of our data. Management (including our Chief Information Officer (“CIO”) and our CISO) reports at least quarterly to the Audit Committee on information security and data privacy and protection. These presentations address a wide range of topics, including trends in cyber threats and the status of initiatives intended to bolster our security systems and the cyber readiness of our personnel. The Audit Committee chair reports to the full Board on these risk discussions as appropriate. At least annually, the Board meets with members of our ERM team to review and discuss our ERM program, including areas of material risk and how these risks, which may include cybersecurity risk, are being managed and reported to the Board and its committees.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Cross-Functional Collaboration and Coordination . Our Enterprise Cybersecurity Services (“ECS”) team, led by our Chief Information Security Officer (“CISO”), has first line responsibility for our cybersecurity risk management processes. The ECS team works in partnership with other internal teams to coordinate efforts, priorities and oversight. These include: ◦ our Cybersecurity Executive Council (the “Council”), which is composed of key leaders from stakeholder groups throughout the Company, including the CISO and certain members of senior management; ◦ our Enterprise Risk Management (“ERM”) team, which is responsible for evaluating and assessing overall enterprise risk, including cybersecurity risk, and advising senior management and the Board regarding our overall risk profile and priorities as they evolve; ◦ our Internal Audit Department (“IAD”), which monitors certain IT systems controls that are integrated into our larger Sarbanes-Oxley control environment; and ◦ our Cyber Incident Response Team (“CIRT”), a cross-functional team of subject matter experts from across the Company and certain third-party support providers that we have on retainer.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Consistent with our overall risk management governance structure, management is responsible for the day-to-day management of cybersecurity risk while our Board and its Audit Committee play an active, ongoing oversight role. Board Oversight . Our Board has delegated to its Audit Committee specific, first-line responsibility for overseeing major cybersecurity risk exposures in addition to our broader ERM program. Specifically, under its charter, the Audit Committee is responsible for overseeing our cybersecurity posture, risk assessment, strategy and mitigation and for making recommendations to address and resolve any breaches or issues related to the protection or privacy of our data. Management (including our Chief Information Officer (“CIO”) and our CISO) reports at least quarterly to the Audit Committee on information security and data privacy and protection. These presentations address a wide range of topics, including trends in cyber threats and the status of initiatives intended to bolster our security systems and the cyber readiness of our personnel. The Audit Committee chair reports to the full Board on these risk discussions as appropriate. At least annually, the Board meets with members of our ERM team to review and discuss our ERM program, including areas of material risk and how these risks, which may include cybersecurity risk, are being managed and reported to the Board and its committees. Management’s Role . Our ECS team is composed of several support teams that address and respond to cyber risk, including cyber risks related to security architecture and engineering, identity and access management and security operations. The ECS team oversees compliance with our cybersecurity framework within the organization and facilitates cybersecurity risk management activities throughout the organization. The ECS team also assists with the review and approval of policies, completes benchmarking against applicable standards, maintains a cyber risk register and oversees the security awareness program. Our ECS team is led by our CISO. Our CISO reports to our CIO who, in turn, reports to our Executive Vice President and Chief Financial Officer. Our CISO has over 20 years of experience in leading global security functions and strategies. Collectively, the other members of our ECS team have decades of relevant education and experience and maintain a wide range of industry certifications. We invest in regular, ongoing cybersecurity training for our ECS team.
Cybersecurity Risk Role of Management [Text Block]	Consistent with our overall risk management governance structure, management is responsible for the day-to-day management of cybersecurity risk while our Board and its Audit Committee play an active, ongoing oversight role. Board Oversight . Our Board has delegated to its Audit Committee specific, first-line responsibility for overseeing major cybersecurity risk exposures in addition to our broader ERM program. Specifically, under its charter, the Audit Committee is responsible for overseeing our cybersecurity posture, risk assessment, strategy and mitigation and for making recommendations to address and resolve any breaches or issues related to the protection or privacy of our data. Management (including our Chief Information Officer (“CIO”) and our CISO) reports at least quarterly to the Audit Committee on information security and data privacy and protection. These presentations address a wide range of topics, including trends in cyber threats and the status of initiatives intended to bolster our security systems and the cyber readiness of our personnel. The Audit Committee chair reports to the full Board on these risk discussions as appropriate. At least annually, the Board meets with members of our ERM team to review and discuss our ERM program, including areas of material risk and how these risks, which may include cybersecurity risk, are being managed and reported to the Board and its committees. Management’s Role . Our ECS team is composed of several support teams that address and respond to cyber risk, including cyber risks related to security architecture and engineering, identity and access management and security operations. The ECS team oversees compliance with our cybersecurity framework within the organization and facilitates cybersecurity risk management activities throughout the organization. The ECS team also assists with the review and approval of policies, completes benchmarking against applicable standards, maintains a cyber risk register and oversees the security awareness program. Our ECS team is led by our CISO. Our CISO reports to our CIO who, in turn, reports to our Executive Vice President and Chief Financial Officer. Our CISO has over 20 years of experience in leading global security functions and strategies. Collectively, the other members of our ECS team have decades of relevant education and experience and maintain a wide range of industry certifications. We invest in regular, ongoing cybersecurity training for our ECS team.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Specifically, under its charter, the Audit Committee is responsible for overseeing our cybersecurity posture, risk assessment, strategy and mitigation and for making recommendations to address and resolve any breaches or issues related to the protection or privacy of our data. Management (including our Chief Information Officer (“CIO”) and our CISO) reports at least quarterly to the Audit Committee on information security and data privacy and protection.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our CISO has over 20 years of experience in leading global security functions and strategies. Collectively, the other members of our ECS team have decades of relevant education and experience and maintain a wide range of industry certifications. We invest in regular, ongoing cybersecurity training for our ECS team.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Consistent with our overall risk management governance structure, management is responsible for the day-to-day management of cybersecurity risk while our Board and its Audit Committee play an active, ongoing oversight role. Board Oversight . Our Board has delegated to its Audit Committee specific, first-line responsibility for overseeing major cybersecurity risk exposures in addition to our broader ERM program. Specifically, under its charter, the Audit Committee is responsible for overseeing our cybersecurity posture, risk assessment, strategy and mitigation and for making recommendations to address and resolve any breaches or issues related to the protection or privacy of our data. Management (including our Chief Information Officer (“CIO”) and our CISO) reports at least quarterly to the Audit Committee on information security and data privacy and protection. These presentations address a wide range of topics, including trends in cyber threats and the status of initiatives intended to bolster our security systems and the cyber readiness of our personnel. The Audit Committee chair reports to the full Board on these risk discussions as appropriate. At least annually, the Board meets with members of our ERM team to review and discuss our ERM program, including areas of material risk and how these risks, which may include cybersecurity risk, are being managed and reported to the Board and its committees. Management’s Role . Our ECS team is composed of several support teams that address and respond to cyber risk, including cyber risks related to security architecture and engineering, identity and access management and security operations. The ECS team oversees compliance with our cybersecurity framework within the organization and facilitates cybersecurity risk management activities throughout the organization. The ECS team also assists with the review and approval of policies, completes benchmarking against applicable standards, maintains a cyber risk register and oversees the security awareness program. Our ECS team is led by our CISO. Our CISO reports to our CIO who, in turn, reports to our Executive Vice President and Chief Financial Officer. Our CISO has over 20 years of experience in leading global security functions and strategies. Collectively, the other members of our ECS team have decades of relevant education and experience and maintain a wide range of industry certifications. We invest in regular, ongoing cybersecurity training for our ECS team.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the assets, liabilities, revenue and expenses of all wholly-owned and majority-owned subsidiaries over which the Company exercises control and, when applicable, entities in which the Company has a controlling financial interest or is the primary beneficiary. Investments in affiliates where the Company does not exert a controlling financial interest are not consolidated. All intercompany balances and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and the reported amount of revenue and expenses during the reporting period. Management evaluates these estimates and judgments on an ongoing basis and bases its estimates on experience, current and expected future conditions, third-party evaluations and various other assumptions that management believes are reasonable under the circumstances. Significant estimates have been used by management in conjunction with the following: (i) calculation of future payouts for customer incentives and amounts subject to allowances and returns; (ii) valuation and obsolescence relating to inventories; (iii) measurement of valuation allowances against deferred tax assets, and evaluations of uncertain tax positions; (iv) assumptions used in business combinations; and (v) testing for impairment of long-lived assets and goodwill. Actual results may differ from the estimates and assumptions used in the consolidated financial statements.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposits and highly liquid investments with original maturities at the time of purchase of three months or less. The Company maintains amounts on deposit at various financial institutions, which may at times exceed federally insured limits. However, management periodically evaluates the credit-worthiness of those institutions and has not experienced any losses on such deposits.
Short-Term Investments	Short-Term Investments Short-term investments are comprised of time deposits with original maturities of greater than three months at the time of purchase. Interest on these investments are included within Interest income.
Inventories	Inventories Inventories are stated at the lower of standard cost (which approximates actual cost on a first-in, first-out basis) or net realizable value. General market conditions, as well as the Company's design activities, can cause certain of its products to become obsolete. The Company writes down excess and obsolete inventories based upon a regular analysis of inventory on hand compared to historical and projected end-user demand. The determination of projected end-user demand requires the use of estimates and assumptions related to projected unit sales for each product. These write downs can influence results from operations. For example, when demand for a given part falls, all or a portion of the related inventory that is considered to be in excess of anticipated demand is written down, impacting cost of revenue and gross profit. The majority of product inventory that has been previously written down is ultimately discarded. Although the Company does sell some products that have previously been written down, such sales have historically been consistently insignificant and the related impact on the Company's gross profit has also been insignificant.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are recorded at cost and are depreciated over estimated useful lives of 30 years for buildings and 3-20 years for computers, machinery and equipment using straight-line methods. Expenditures for maintenance and repairs are charged to operations in the period in which the expenses are incurred. When assets are retired or otherwise disposed of, the related costs and accumulated depreciation are removed from the balance sheet and any resulting gain or loss is reflected in operations in the period realized.
Business Combination Purchase Price Allocation	Business Combination Purchase Price Allocation
Goodwill	Goodwill Goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired in a business combination. The Company evaluates its goodwill for impairment annually during the fourth quarter and whenever events or changes in circumstances indicate the carrying value of a reporting unit may not be recoverable. The Company’s divisions are one level below the operating segments, constituting individual businesses, at which level the Company’s segment management conducts regular reviews of the operating results. The Company's divisions, either individually or in a combination, constitute reporting units for purposes of allocating and testing goodwill. The Company's impairment evaluation consists of a qualitative assessment. If this assessment indicates that it is more likely than not the estimated fair value of a reporting unit exceeds its carrying value, goodwill is not considered impaired. Otherwise, a quantitative impairment test is performed by comparing the fair value of a reporting unit to its carrying value, including goodwill. The Company can bypass the qualitative assessment for any period and proceed directly to the quantitative impairment test. If the carrying value of the net assets associated with the reporting unit exceeds the fair value of the reporting unit, goodwill is considered impaired and will be determined as the amount by which the reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill.
Intangible Assets	Intangible Assets
Leases	Leases The Company determines if an arrangement is a lease at its inception. Operating and financing lease arrangements are comprised primarily of real estate and equipment agreements. ROU assets are included in other assets and the corresponding lease liabilities, depending on their maturity, are included in accrued expenses and other current liabilities or other long-term liabilities. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The lease term includes options to extend the lease when it is reasonably certain that the option will be exercised. Leases with a term of 12 months or less are not recorded on the Consolidated Balance Sheet. The Company uses its estimated incremental borrowing rate in determining the present value of lease payments considering the term of the lease, which is derived from information available at the lease commencement date, giving consideration to publicly available data for instruments with similar characteristics. The Company accounts for the lease and non-lease components as a single lease component.
Debt Issuance Costs	Debt Issuance Costs Debt issuance costs for the Company's revolving credit facilities are capitalized and amortized over the term of the facility on a straight-line basis. Amortization is included in interest expense while the unamortized balance is included in other assets. Debt issuance costs for the Company's convertible notes, senior notes and term debt are recorded as a direct deduction from the carrying amounts of such debt, consistent with debt discounts, and are amortized over their term using the effective interest method. Amortization is included in interest expense.
Government Incentives	Government Incentives The Company receives government incentives for various reasons including capital expenditures, operating expenses, or to develop specific technologies, which may require the Company to meet or maintain certain metrics, and may be subject to reduction, termination, or recapture if such conditions are not met or maintained. Incentives related to the acquisition or construction of property, plant and equipment are recognized as a reduction in the cost-basis of the underlying assets with a reduction to depreciation expense based on the useful lives of the related assets. Incentives related to specific operating activities are offset against the related expense in the period the expense is incurred. Government incentives received prior to being earned are recognized in current or non-current liabilities or restricted cash, whereas incentives earned prior to being received are recognized in current or non-current receivables. Cash incentives related to operating expenses along with incentives that can offset taxes payable are included in operating activities, while cash received related to the acquisition of property, plant, and equipment are included in investing activities in the Consolidated Statements of Cash Flows.
Contingencies	Contingencies
Treasury Stock	Treasury Stock Treasury stock is recorded at cost, inclusive of fees, commissions and other expenses, when outstanding common shares are repurchased, bond hedges issued in connection with the convertible notes are settled and when outstanding shares are withheld to satisfy tax withholding obligations in connection with certain shares pursuant to RSUs under the Company's share-based compensation plans. Re-issuance of shares held in treasury stock is accounted for on a first-in, first-out basis.
Revenue Recognition	Revenue Recognition The Company generates revenue from sales of its semiconductor products to direct customers and distributors. The Company also generates revenue, to a much lesser extent, from product development agreements and manufacturing services provided to customers. The Company applies a five-step approach in determining the amount and timing of revenue to be recognized: (i) identifying the contract with a customer; (ii) identifying the performance obligations in the contract; (iii) determining the transaction price; (iv) allocating the transaction price to the performance obligations in the contract; and (v) recognizing revenue when the performance obligation is satisfied. The Company allocates the transaction price to each distinct product based on its relative stand-alone selling price. In determining the transaction price, the Company evaluates whether the price is subject to refund or adjustment to determine the net consideration to which the Company expects to be entitled. Revenue is recognized when the Company satisfies a performance obligation in an amount reflecting the consideration to which it expects to be entitled. For sales agreements, the Company has identified the promise to transfer products, each of which is distinct, as the performance obligation. The Company recognizes revenue from sales agreements upon transferring control of a product to the customer, which typically occurs when products are shipped or delivered, depending on the delivery terms, or when products that are consigned at customer locations are consumed. Revenue is also recognized over time for products with no alternative use and an enforceable right to payment as they are manufactured, which represents a contract asset. The Company can receive cash payments from customers in advance of the performance obligation being satisfied, which represents a contract liability. Contract liabilities are recognized as revenue when the performance obligations are satisfied. Frequently, the Company receives orders with multiple delivery dates that may extend across reporting periods. Each delivery constitutes an individual performance obligation, which consists of transferring control of the products to the customers based on their stand-alone selling price. The Company invoices the customer for each delivery upon shipment and recognizes revenue in accordance with delivery terms. As scheduled delivery dates are within one year, revenue allocated to future shipments of partially completed contracts is not disclosed. For product development agreements, the Company has identified the completion of a service defined in the agreement as the performance obligation. The Company recognizes revenue from product development agreements over time based on the cost-to-cost method. The Company recognizes revenue from manufacturing services when it satisfies the performance obligation by transferring the promised goods or services to the customer. Depending on the terms of the applicable contractual agreement with the customer, revenue is recognized at the point in time when the customer obtains control of the promised goods or service, or over time when the created asset has no alternate use to the Company and there is an enforceable right to payment for the performance to date. Sales agreements with customers are renewable periodically and contain terms and conditions with respect to payment, delivery, warranty and supply. In the absence of a sales agreement, the Company’s standard terms and conditions apply. Payment terms for direct customers generally require payment within 30 days but can extend up to 90 days. The Company considers the customer purchase orders, governed by sales agreements or the Company’s standard terms and conditions, to be the contract with the customer. The Company evaluates certain factors including the customer’s ability to pay (or credit risk). The Company’s direct customers do not have the right to return products, other than pursuant to the provisions of the Company’s standard warranty. Sales to distributors, however, are typically made pursuant to agreements that provide return rights and stock rotation provisions permitting limited levels of product returns. Sales to certain distributors, primarily those with ship and credit rights, can also be subject to price adjustment on certain products. Although payment terms vary, most distributor agreements require payment within 30 days. In addition, the Company offers cash discounts to certain customers for payments received within an agreed upon time, generally ten days after shipment, which is recorded as a reduction to revenue. Sales returns and allowances, which include ship and credit reserves for distributors, are estimated based on historical claims data and expected future claims. Provisions for discounts and rebates to customers, estimated returns and allowances, ship and credit claims and other adjustments are provided for in the same period the related revenue is recognized, and are netted against revenue. The Company records freight and handling costs associated with outbound freight after control over a product has transferred to a customer as a fulfillment cost and includes it in cost of revenue. Taxes assessed by government authorities on revenue-producing transactions, including value-added and excise taxes, are presented on a net basis (excluded from revenue). The Company generally warrants that products sold to its customers will, at the time of shipment, be free from defects in workmanship and materials and conform to specifications. The Company’s standard warranty extends for a period of two years from the date of delivery, except in the case of image sensor products, which are warrantied for one year from the date of delivery. At the time revenue is recognized, the Company establishes an accrual for estimated warranty expenses associated with its sales and records them as a component of the cost of revenue.
Research and Development Costs	Research and Development Costs Research and development costs are expensed as incurred.
Income Taxes	Income Taxes Income taxes are accounted for using the asset and liability method. Under this method, deferred income tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which these temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for those deferred tax assets for which management cannot conclude that it is more likely than not that such deferred tax assets will be realized. In determining the amount of the valuation allowance, estimated future taxable income, feasible tax planning strategies, future reversals of existing temporary differences and taxable income in prior carryback years, if a carryback is permitted, are considered. If the Company determines it is more likely than not that all or a portion of the remaining deferred tax assets will not be realized, the valuation allowance will be increased with a charge to income tax expense. Conversely, if the Company determines it is more likely than not to be able to utilize all or a portion of the deferred tax assets for which a valuation allowance has been provided, the related portion of the valuation allowance will be recorded as a reduction to income tax expense. The Company recognizes and measures benefits for uncertain tax positions using a two-step approach. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that is it more likely than not that the tax positions will be sustained upon audit, including resolution of any related appeals or litigation processes. For tax positions that are more likely than not to be sustained upon audit, the second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon settlement. No tax benefit is recognized for tax positions that are not more likely than not to be sustained. The Company's practice is to recognize interest and/or penalties related to income tax matters in income tax expense. Significant judgment is required to evaluate uncertain tax positions. Evaluations are based upon a number of factors, including changes in facts or circumstances, changes in tax law, correspondence with tax authorities during the course of tax audits and effective settlement of audit issues. Changes in the recognition or measurement of uncertain tax positions could result in significant increases or decreases in income tax expense in the period in which the change is made, which could have a significant impact on the Company's effective tax rate.
Foreign Currencies	Foreign Currencies Most of the Company's foreign subsidiaries conduct business primarily in U.S. dollars and, as a result, utilize the U.S. dollar as their functional currency. For the remeasurement of financial statements of these subsidiaries, assets and liabilities in foreign currencies that are receivable or payable in cash are remeasured at current exchange rates, while inventories and other non-monetary assets in foreign currencies are remeasured at historical rates. Gains and losses resulting from the remeasurement of such financial statements are included in the operating results, as are gains and losses incurred on foreign currency transactions.
Defined Benefit Pension Plans	Defined Benefit Pension Plans The Company maintains defined benefit pension plans covering certain of its foreign employees. Net periodic pension costs and pension obligations are determined based on actuarial assumptions, including discount rates for plan obligations, assumed rates of return on pension plan assets and assumed rates of compensation increases for employees participating in plans. These assumptions are based upon management's judgment and consultation with actuaries, considering all known trends and uncertainties. The service cost component of the net periodic pension cost is allocated between the cost of revenue, research and development, selling and marketing and general and administrative line items, while the other components are included in other expense in the Consolidated Statements of Operations and Comprehensive Income.
Fair Value Measurement	Fair Value Measurement The Company measures certain of its financial and non-financial assets at fair value by using the fair value hierarchy that prioritizes certain inputs into individual fair value measurement approaches. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the third, unobservable. The Company has elected not to carry any of its debt instruments at fair value.
Recent Accounting Pronouncements	Adopted Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07") In November 2023, the FASB issued ASU 2023-07 to enhance disclosures about significant segment expenses. The amendments in this ASU require a public entity to disclose significant segment expenses and other segment items on an annual and interim basis and to provide in interim periods all disclosures about a reportable segment's profit or loss and assets that are currently required annually. The amendments in this ASU also clarify circumstances in which an entity can disclose multiple segment measures of profit or loss and provide new segment disclosure requirements for entities with a single reportable segment. For public business entities, the provisions of ASU 2023-07 are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. ASU 2023-07 was adopted for the year ended December 31, 2024 retrospectively to all periods presented in the financial statements. See Note 3: ''Segments and Revenue'' for additional information. Pending Adoption Income Statement (Subtopic 220-40): Reporting Comprehensive Income - Expense Disaggregation Disclosures ("ASU 2024-03") In November 2024, the FASB issued ASU 2024-03, which requires public business entities to expand disclosures about specific expense categories. The amendments in this ASU require a public entity to disclose, in tabular format, in the notes to the financial statements, specific information about certain costs and expenses. Although the ASU does not change the expense captions an entity presents on the face of the income statement, it requires disaggregation of certain expense captions into specified categories. For public business entities, the provisions of ASU 2024-03 are effective for fiscal years beginning after December 15, 2026. Early adoption is permitted. Management is currently evaluating the requirements under this new standard. Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09") In December 2023, the FASB issued ASU 2023-09 to enhance disclosures about income taxes. The amendments in this ASU require a public entity to disclose in tabular format, using both percentages and reporting currency amounts, specific categories in the rate reconciliation and to provide additional information for reconciling items that meet a quantitative threshold. The amendments in this ASU also require taxes paid (net of refunds received) to be disaggregated by federal, state, and foreign taxes and further disaggregated for specific jurisdictions to the extent the related amounts exceed a quantitative threshold. For public business entities, the provisions of ASU 2023-09 are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. Management is currently evaluating the requirements under this new standard. SEC Climate Disclosure In March 2024, the SEC issued final rules requiring registrants to include comprehensive climate-related disclosures in annual reports and registration statements. As adopted, the final rules require large accelerated filers to make their first climate-related disclosures for fiscal years beginning in 2025. However, in April 2024, the SEC issued an order voluntarily staying the effectiveness of the new rules pending the completion of judicial review of certain legal challenges to their validity. Management is currently evaluating these rules as adopted while monitoring the status of the related litigation and the SEC’s stay.

Segments and Revenue (Tables)

Segments and Revenue (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Revenue and Gross Profit from Operating and Reportable Segments	Revenue and gross profit for the Company’s operating and reportable segments were as follows (in millions): PSG (1) AMG (1) ISG Total Year ended December 31, 2024: Revenue from external customers $ 3,348.2 $ 2,609.1 $ 1,125.0 $ 7,082.3 Cost of revenue 1,963.8 1,302.8 599.6 3,866.2 Segment gross profit $ 1,384.4 $ 1,306.3 $ 525.4 $ 3,216.1 Year ended December 31, 2023: Revenue from external customers $ 3,880.4 $ 3,057.1 $ 1,315.5 $ 8,253.0 Cost of revenue 2,058.5 1,635.8 675.2 4,369.5 Segment gross profit $ 1,821.9 $ 1,421.3 $ 640.3 $ 3,883.5 Year ended December 31, 2022: Revenue from external customers $ 3,467.1 $ 3,582.4 $ 1,276.7 $ 8,326.2 Cost of revenue 1,866.7 1,714.0 668.3 4,249.0 Segment gross profit $ 1,600.4 $ 1,868.4 $ 608.4 $ 4,077.2 (1) During the first quarter of 2024, the Company reorganized certain reporting units and its segment reporting structure. As a result of the reorganization of divisions within PSG and AMG, the prior-period amounts have been reclassified to conform to current-period presentation.
Schedule of Disaggregation of Revenue	Revenue for the Company's operating and reportable segments disaggregated into geographic locations based on sales billed from the respective country and sales channels was as follows (in millions): Year ended December 31, 2024 PSG AMG ISG Total Geographic Location: Hong Kong $ 876.1 $ 661.6 $ 241.6 $ 1,779.3 Singapore 991.0 617.1 125.1 1,733.2 United Kingdom 712.8 502.5 422.5 1,637.8 United States 525.4 596.7 185.4 1,307.5 Other 242.9 231.2 150.4 624.5 Total $ 3,348.2 $ 2,609.1 $ 1,125.0 $ 7,082.3 Sales Channel: Distributors $ 2,051.5 $ 1,338.7 $ 369.4 $ 3,759.6 Direct Customers 1,296.7 1,270.4 755.6 3,322.7 Total $ 3,348.2 $ 2,609.1 $ 1,125.0 $ 7,082.3 Year ended December 31, 2023 PSG (1) AMG (1) ISG Total Geographic Location: Hong Kong $ 1,151.7 $ 764.2 $ 252.7 $ 2,168.6 Singapore 1,095.1 640.4 203.3 1,938.8 United Kingdom 769.9 647.6 335.9 1,753.4 United States 604.3 642.1 327.3 1,573.7 Other 259.4 362.8 196.3 818.5 Total $ 3,880.4 $ 3,057.1 $ 1,315.5 $ 8,253.0 Sales Channel: Distributors $ 2,238.6 $ 1,494.2 $ 576.3 $ 4,309.1 Direct Customers 1,641.8 1,562.9 739.2 3,943.9 Total $ 3,880.4 $ 3,057.1 $ 1,315.5 $ 8,253.0 Year ended December 31, 2022 PSG (1) AMG (1) ISG Total Geographic Location: Hong Kong $ 1,083.1 $ 974.5 $ 258.2 $ 2,315.8 Singapore 955.7 978.2 200.0 2,133.9 United Kingdom 617.9 598.9 275.5 1,492.3 United States 543.7 585.6 335.4 1,464.7 Other 266.7 445.2 207.6 919.5 Total $ 3,467.1 $ 3,582.4 $ 1,276.7 $ 8,326.2 Sales Channel: Distributors $ 2,167.5 $ 1,948.4 $ 691.4 $ 4,807.3 Direct Customers 1,299.6 1,634.0 585.3 3,518.9 Total $ 3,467.1 $ 3,582.4 $ 1,276.7 $ 8,326.2 (1) During the first quarter of 2024, the Company reorganized certain reporting units and its segment reporting structure. As a result of the reorganization of divisions within PSG and AMG, the prior-period amounts have been reclassified to conform to current-period presentation. The Company's revenue disaggregated into end-markets and product technologies was as follows (in millions): Year ended December 31, 2024 2023 2022 End-Markets: Automotive $ 3,900.8 $ 4,319.9 $ 3,360.8 Industrial 1,800.8 2,278.4 2,290.5 Other* 1,380.7 1,654.7 2,674.9 Total $ 7,082.3 $ 8,253.0 $ 8,326.2 * Other includes the end-markets of computing, consumer, networking, communications, etc. Product Technologies: Intelligent Power $ 3,648.6 $ 4,214.8 $ 3,997.3 Intelligent Sensing 1,379.2 1,606.8 1,573.7 Other 2,054.5 2,431.4 2,755.2 Total $ 7,082.3 $ 8,253.0 $ 8,326.2
Schedule of Segments and Product Lines	The following table illustrates the product technologies under each of the Company's reportable segments 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. PSG AMG ISG SiC products Analog products Actuator Drivers Discrete products ASIC products CMOS image sensors MOSFET products Logic and Isolation products Image Signal Processors Power Module products Non-Volatile Memory products Single Photon Detectors Foundry products/services Short-Wavelength Infrared products Gate Driver products Indirect Time of Flight sensors LSI products
Schedule of Property, Plant and Equipment, Net by Geographic Location	Property, plant and equipment, net by geographic location, is summarized below (in millions): As of December 31, 2024 2023 South Korea $ 1,423.8 $ 1,360.8 United States 1,410.8 1,456.5 Czech Republic 612.3 559.7 China 228.8 252.2 Philippines 208.1 252.9 Malaysia 183.1 199.3 Vietnam 155.3 164.3 Other 139.2 155.8 Total $ 4,361.4 $ 4,401.5
Schedule of Contract Assets and Liabilities	Contract assets and contract liabilities were as follows (in millions): As of December 31, 2024 2023 Contract assets included in: Other current assets $ 39.9 $ 83.1 Other assets — 12.0 Total $ 39.9 $ 95.1 Contract liabilities included in: Accrued expenses and other current liabilities $ 98.2 $ 87.6 Other long-term liabilities 120.9 216.6 Total $ 219.1 $ 304.2

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Purchase Price Allocation	The final allocation of the purchase price of EFK to the assets acquired and liabilities assumed, based on their relative fair values, which was materially consistent with the preliminary allocation, was as follows (in millions): Purchase Price Allocation Inventories $ 3.3 Other current assets 4.4 Property, plant and equipment 396.5 Other non-current assets 11.4 Total assets acquired 415.6 Current liabilities 3.0 Other long-term liabilities 6.3 Total liabilities assumed 9.3 Net assets acquired/purchase price $ 406.3

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill by Operating and Reportable Segment	The following table summarizes goodwill by operating and reportable segments (in millions): As of December 31, 2024 As of December 31, 2023 Operating and Reportable Segments Goodwill Accumulated Impairment Losses Reallocation Carrying Value Goodwill Accumulated Impairment Losses Carrying Value AMG $ 1,536.4 $ (748.9) $ 25.9 $ 813.4 $ 1,536.4 $ (748.9) $ 787.5 PSG 708.0 (31.9) (25.9) 650.2 708.0 (31.9) 676.1 ISG 124.3 — — 124.3 114.0 — 114.0 Total $ 2,368.7 $ (780.8) $ — $ 1,587.9 $ 2,358.4 $ (780.8) $ 1,577.6
Schedule of Change in Goodwill	The following table summarizes the change in goodwill (in millions): Net balance as of December 31, 2023 $ 1,577.6 Addition due to business acquisition 10.3 Net balance as of December 31, 2024 $ 1,587.9
Schedule of Intangible Assets, Net	Intangible assets subject to amortization, net, were as follows (in millions): As of December 31, 2024 Original Accumulated Accumulated Impairment Losses Carrying Customer relationships $ 581.7 $ (483.5) $ (36.3) $ 61.9 Developed technology 956.3 (739.7) (40.7) 175.9 Licenses 30.0 (9.9) — 20.1 Other intangibles 79.1 (63.9) (15.2) — Total $ 1,647.1 $ (1,297.0) $ (92.2) $ 257.9 As of December 31, 2023 Original Accumulated Accumulated Impairment Losses Carrying Customer relationships $ 581.5 $ (473.3) $ (36.3) $ 71.9 Developed technology 939.6 (696.4) (40.7) 202.5 Licenses 30.0 (5.1) — 24.9 Other intangibles 79.1 (63.9) (15.2) — Total $ 1,630.2 $ (1,238.7) $ (92.2) $ 299.3
Schedule of Amortization Expense	Amortization expense for intangible assets is expected to be as follows over the next five years, and thereafter (in millions): 2025 $ 48.0 2026 41.8 2027 36.0 2028 31.0 2029 30.3 Thereafter 70.8 Total estimated amortization expense $ 257.9

Restructuring, Asset Impairme_2

Restructuring, Asset Impairments and Other Charges, net (Tables)	12 Months Ended
	Dec. 31, 2024
Restructuring Charges [Abstract]
Schedule of Restructuring, Asset Impairments and Other Charges, Net	Details of restructuring, asset impairments and other charges, net were as follows (in millions): Restructuring Asset Impairments Other Total Year ended December 31, 2024: 2024 Business Realignment $ 75.7 $ 37.8 (1) $ 16.3 (2) $ 129.8 Other 0.3 — 3.8 4.1 Total $ 76.0 $ 37.8 $ 20.1 $ 133.9 Year ended December 31, 2023: 2023 Business Realignment $ 59.1 $ 9.3 (1) $ 2.8 $ 71.2 Other (0.6) 10.2 (3) (5.9) 3.7 Total $ 58.5 $ 19.5 $ (3.1) $ 74.9 Year ended December 31, 2022: QCS wind down $ 12.6 $ 18.6 $ 18.9 (4) $ 50.1 Other (1.4) 4.0 (34.8) (5) (32.2) Total $ 11.2 $ 22.6 $ (15.9) $ 17.9 (1) Primarily relates to property, plant and equipment impairment charges associated with the business realignment efforts. (2) Primarily relates to equipment movement costs and accelerated amortization of ROU assets for certain leases. (3) Property, plant and equipment and ROU asset impairment charges related to the site consolidation efforts in the U.S. (4) Primarily relates to contract cancellation charges of approximately $15.4 million and legal charges of $3.5 million. (5) Primarily relates to the gain on the sale of two office buildings and the previous corporate headquarters.
Schedule of Changes in Accrued Restructuring Charges	A summary of changes in accrued restructuring charges was as follows (in millions): Accrued Restructuring Balance as of December 31, 2022 $ 4.4 Charges 58.5 Usage (45.0) Balance as of December 31, 2023 17.9 Charges 76.0 Usage (39.5) Balance as of December 31, 2024 $ 54.4

Balance Sheet Information (Tabl

Balance Sheet Information (Tables)	12 Months Ended
	Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Schedule of Supplemental Balance Sheet Information	Certain significant amounts included in the Company's Consolidated Balance Sheets consist of the following (in millions): As of December 31, 2024 2023 Inventories: Raw materials $ 349.8 $ 469.3 Work in process 1,391.9 1,221.1 Finished goods 500.3 421.4 Total $ 2,242.0 $ 2,111.8 Property, plant and equipment, net: Land $ 115.7 $ 117.8 Buildings and improvements 1,423.2 1,324.2 Machinery, equipment and other 6,781.3 6,489.0 Property, plant and equipment, gross 8,320.2 7,931.0 Less: Accumulated depreciation (3,958.8) (3,529.5) Total $ 4,361.4 $ 4,401.5 Accrued expenses and other current liabilities: Accrued payroll and related benefits $ 134.5 $ 183.8 Sales-related reserves 225.5 108.3 Contract liabilities 98.2 87.6 Income taxes payable 25.1 37.4 Other (1) 276.7 246.1 Total $ 760.0 $ 663.2 (1) The current portion of operating lease liabilities is included in this amount. See discussion below.
Schedule of Components of Operating Lease Expense and Lease Liabilities	The components of operating lease expense were as follows (in millions): Year ended December 31, 2024 2023 2022 Operating lease $ 54.7 $ 48.0 $ 47.8 Variable lease 5.0 5.1 9.8 Short-term lease 1.9 1.7 2.6 Total lease expense $ 61.6 $ 54.8 $ 60.2 The operating lease liabilities included in the Consolidated Balance Sheets were as follows (in millions): As of December 31, 2024 2023 Operating lease liabilities included in: Accrued expenses and other current liabilities $ 31.5 $ 33.0 Other long-term liabilities 244.7 231.0 Total $ 276.2 $ 264.0 Operating ROU assets included in: Other assets $ 249.7 $ 247.3
Schedule of Reconciliation of the Maturities of Operating Leases	The reconciliation of the maturities of the operating and financing leases to the lease liabilities recorded in the Consolidated Balance Sheet as of December 31, 2024 was as follows (in millions): Operating Leases Financing Leases 2025 $ 44.2 $ 1.5 2026 40.1 1.6 2027 35.6 1.6 2028 30.5 1.7 2029 28.1 1.7 Thereafter 190.1 26.3 Total lease payments 368.6 34.4 Less: Interest (92.4) (13.4) Total lease liabilities $ 276.2 $ 21.0
Schedule of Reconciliation of the Maturities of Finance Leases	The reconciliation of the maturities of the operating and financing leases to the lease liabilities recorded in the Consolidated Balance Sheet as of December 31, 2024 was as follows (in millions): Operating Leases Financing Leases 2025 $ 44.2 $ 1.5 2026 40.1 1.6 2027 35.6 1.6 2028 30.5 1.7 2029 28.1 1.7 Thereafter 190.1 26.3 Total lease payments 368.6 34.4 Less: Interest (92.4) (13.4) Total lease liabilities $ 276.2 $ 21.0

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	The Company's long-term debt consists of the following (annualized interest rates, dollars in millions): As of December 31, 2024 2023 Revolving Credit Facility due 2028, interest payable monthly at 5.69% and 6.71% $ 375.0 $ 375.0 0.50% Notes due 2029 (1) 1,500.0 1,500.0 0% Notes due 2027 804.9 804.9 3.875% Notes due 2028 (2) 700.0 700.0 Gross long-term debt, including current maturities 3,379.9 3,379.9 Less: Unamortized debt discount (3) (3.4) (4.2) Less: Unamortized debt issuance costs (4) (30.6) (39.1) Net long-term debt, including current maturities 3,345.9 3,336.6 Less: Current maturities — (794.0) Net long-term debt $ 3,345.9 $ 2,542.6 (1) Interest is payable on March 1 and September 1 of each year at 0.50% annually. (2) Fixed rate note due September 1, 2028 with interest payable on March 1 and September 1 of each year at 3.875% annually. (3) Debt discount of $3.4 million and $4.2 million for the 3.875% Notes as of December 31, 2024 and December 31, 2023, respectively. (4) Debt issuance costs of $21.7 million and $26.8 million for the 0.50% Notes, $7.7 million and $10.9 million for the 0% Notes, $1.2 million and $1.4 million for the 3.875% Notes, in each case as of December 31, 2024 and December 31, 2023, respectively.
Schedule of Expected Maturities of Gross Long-Term Debt	Expected maturities of gross long-term debt (including current portion - see section regarding 0% Notes below) as of December 31, 2024 are as follows (in millions): Expected 2025 $ — 2026 — 2027 804.9 2028 1,075.0 2029 1,500.0 Thereafter — Total $ 3,379.9

Earnings Per Share and Equity (

Earnings Per Share and Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Net Income Per Share	Net income per share of common stock attributable to ON Semiconductor Corporation is shown below (in millions, except per share data): Year ended December 31, 2024 2023 2022 Net income for basic earnings per share of common stock $ 1,572.8 $ 2,183.7 $ 1,902.2 Add: Interest on 1.625% Notes — 1.3 2.0 Net income for diluted earnings per share of common stock $ 1,572.8 $ 2,185.0 $ 1,904.2 Basic weighted-average shares of common stock outstanding 427.4 430.7 433.2 Dilutive effect of share-based awards 0.6 1.2 1.8 Dilutive effect of convertible notes and warrants 4.7 14.9 13.2 Diluted weighted average shares of common stock outstanding 432.7 446.8 448.2 Net income per share of common stock: Basic $ 3.68 $ 5.07 $ 4.39 Diluted $ 3.63 $ 4.89 $ 4.25
Schedule of Share Repurchase Program	Activity under both the Share Repurchase Program and the previous program was as follows (in millions, except per share data): Year ended December 31, 2024 2023 2022 Number of repurchased shares (1) 9.1 7.6 4.0 Aggregate purchase price $ 650.0 $ 564.0 $ 259.8 Fees, commissions and excise tax 2.3 4.1 — Total $ 652.3 $ 568.1 $ 259.8 Weighted-average purchase price per share (2) $ 71.21 $ 74.54 $ 65.13 Available amounts $ 1,786.0 $ 2,436.0 $ 1,036.0 (1) None of these shares had been reissued or retired as of December 31, 2024 but may be reissued or retired later. (2) Exclusive of fees, commission or other expenses.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Share-Based Compensation Expense	Total share-based compensation expense related to the Company's RSUs, stock grant awards and ESPP was recorded within the Consolidated Statements of Operations and Comprehensive Income as follows (in millions): Year ended December 31, 2024 2023 2022 Cost of revenue $ 24.6 $ 18.1 $ 12.0 Research and development 24.7 20.5 17.6 Selling and marketing 21.3 18.6 16.4 General and administrative 65.5 63.9 54.8 Share-based compensation expense 136.1 121.1 100.8 Income tax benefit (28.6) (25.4) (21.2) Share-based compensation expense, net of taxes $ 107.5 $ 95.7 $ 79.6
Summary of Restricted Stock Units Transactions	A summary of activity of RSUs during the year ended December 31, 2024 was as follows (number of shares in millions): Number of Shares Weighted-Average Grant Date Fair Value Nonvested shares of RSUs at December 31, 2023 3.2 $ 69.39 Granted 2.3 $ 77.15 Achieved 0.3 $ 61.20 Released (1.9) $ 63.87 Forfeited (0.4) $ 73.28 Nonvested shares of RSUs at December 31, 2024 3.5 $ 76.27

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Summary of Net Periodic Pension Cost	The following tables summarize the status of the Company's foreign defined benefit pension plans and the net periodic pension cost (dollars in millions): Year ended December 31, 2024 2023 2022 Service cost $ 5.0 $ 4.7 $ 8.1 Interest cost 5.6 6.3 4.0 Expected return on plan assets (4.7) (4.7) (4.3) Actuarial (gains) losses (12.2) 4.0 (22.1) Total net periodic pension (gain) cost $ (6.3) $ 10.3 $ (14.3) Weighted average assumptions: Discount rate used for net periodic pension costs 3.28 % 3.27 % 1.54 % Discount rate used for pension benefit obligations 3.84 % 3.63 % 3.63 % Expected return on plan assets 3.65 % 3.46 % 2.98 % Rate of compensation increase 4.32 % 4.26 % 3.43 %
Summary of Status Of Foreign Pension Plans	As of December 31, 2024 2023 Change in projected benefit obligation ("PBO"): PBO at the beginning of the year $ 191.1 $ 185.5 Divestiture of business (21.5) — Service cost 5.0 4.7 Interest cost 5.6 6.3 Net actuarial (gain) loss (9.5) 7.8 Benefits paid by plan assets (12.8) (10.7) Benefits paid by the Company (4.2) (3.2) Participant contributions — 0.1 Translation and other (gain) loss (10.7) 0.6 PBO at the end of the year 143.0 191.1 Accumulated benefit obligation at the end of the year $ 116.8 $ 157.3 Change in plan assets: Fair value of plan assets at the beginning of the year $ 140.3 $ 131.7 Divestiture of businesses (22.2) — Actual return on plan assets 7.4 8.5 Benefits paid from plan assets (12.8) (10.7) Employer contributions 2.5 11.3 Translation and other loss (9.1) (0.5) Fair value of plan assets at the end of the year $ 106.1 $ 140.3 As of December 31, 2024 2023 Plans with underfunded or non-funded PBO: PBO $ 101.0 $ 118.2 Fair value of plan assets 42.1 50.2 Plans with underfunded or non-funded accumulated benefit obligation: Accumulated benefit obligation $ 76.4 $ 87.7 Fair value of plan assets 42.1 50.2 Amounts recognized in the balance sheet consist of: Current assets $ — $ 0.7 Non-current assets 22.5 16.4 Current liabilities (1.9) (1.4) Non-current liabilities (57.5) (66.5) Funded status $ (36.9) $ (50.8)
Schedule of Fair Value Measurement of Plan Assets	The following table sets forth, by level within the fair value hierarchy, a summary of investments measured at fair value and the asset allocations of the plan assets in the Company's foreign pension plans (in millions): As of December 31, 2024 Allocation Total Level 1 Level 2 Level 3 Asset Category: Cash/Money Markets 3 % $ 3.2 $ 3.2 $ — $ — Foreign government/treasury securities (1) 14 % 14.5 14.5 — — Corporate bonds, debentures (2) 24 % 25.3 — 25.3 — Equity securities (3) 34 % 36.1 — 36.1 — Investment and insurance contracts (4) 25 % 27.0 — 7.5 19.5 Total 100 % $ 106.1 $ 17.7 $ 68.9 $ 19.5 As of December 31, 2023 Allocation Total Level 1 Level 2 Level 3 Asset Category: Cash/Money Markets 2 % $ 3.5 $ 3.5 $ — $ — Foreign government/treasury securities (1) 7 % 9.9 9.9 — — Corporate bonds, debentures (2) 31 % 43.2 — 43.2 — Equity securities (3) 22 % 31.3 — 31.3 — Mutual funds 9 % 11.9 — 11.9 — Investment and insurance contracts (4) 29 % 40.5 — 16.0 24.5 Total 100 % $ 140.3 $ 13.4 $ 102.4 $ 24.5 (1) Includes investments primarily in guaranteed return securities (2) Includes investments in government bonds and corporate bonds of developed countries, emerging market government bonds, emerging market corporate bonds and convertible bonds (3) Includes investments in equity securities of developed countries and emerging markets (4) Includes certain investments with insurance companies that guarantee a minimum rate of return on the investment
Schedule of Activity of Plan Assets With Fair Value Measurement Using Significant Unobservable Inputs	Activity during the years ended December 31, 2024 and 2023, respectively, for plan assets with fair value measurement using significant unobservable inputs (Level 3) was as follows (in millions): Investment and Insurance Contracts Balance at December 31, 2022 $ 23.8 Actual return on plan assets 1.2 Purchase, sales and settlements, net (1.3) Foreign currency impact 0.8 Balance at December 31, 2023 24.5 Actual return on plan assets 0.8 Purchase, sales and settlements, net (4.5) Foreign currency impact (1.3) Balance at December 31, 2024 $ 19.5
Schedule of Expected Benefit Payments	The expected benefit payments from the Company's defined benefit plans from 2025 through 2029 and the five years thereafter are as follows (in millions): 2025 $ 7.6 2026 5.8 2027 8.1 2028 9.3 2029 12.9 Five years thereafter 55.4 Total $ 99.1

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Purchase Obligations	The following is a schedule by year of future minimum purchase obligations under non-cancelable arrangements entered into during the ordinary course of business as of December 31, 2024 (in millions): 2025 $ 735.5 2026 350.9 2027 77.8 2028 46.0 2029 29.7 Thereafter 8.0 Total $ 1,247.9

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The carrying amounts and fair value of the Company’s long-term borrowings were as follows (in millions): As of December 31, 2024 2023 Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt, including current portion (1) : Revolving Credit Facility $ 375.0 $ 373.4 $ 375.0 $ 390.6 0.50% Notes 1,478.2 1,450.4 1,473.1 1,596.6 0% Notes 797.2 1,054.4 794.0 1,334.4 3.875% Notes 695.5 656.3 694.4 652.0 (1) Long-term debt is carried on the Consolidated Balance Sheets at historical cost net of debt discount and issuance costs.
Fair Value Measurements, Nonrecurring	The following table shows the adjustments to fair value of certain of the Company's non-financial assets that had an impact on the Company's results of operations (in millions): Year ended December 31, 2024 2023 2022 Nonrecurring fair value measurements: Goodwill impairments (Level 3) $ — $ — $ 330.0 Intangibles impairment (Level 3) — — 56.8 Asset impairments (Level 3) 37.8 10.5 14.8 Total $ 37.8 $ 10.5 $ 401.6

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Investments, All Other Investments [Abstract]
Schedule of Net Foreign Exchange Positions	The following schedule summarizes the Company's net foreign exchange positions in U.S. dollars (in millions): As of December 31, 2024 2023 Buy (Sell) Notional Amount Buy (Sell) Notional Amount Euro $ 71.1 $ 71.1 $ 64.6 $ 64.6 Philippine Peso 41.0 41.0 47.3 47.3 Korean Won (39.5) 39.5 (14.3) 14.3 Japanese Yen 35.0 35.0 55.2 55.2 Czech Koruna 24.0 24.0 16.8 16.8 Other currencies - Buy 39.6 39.6 54.4 54.4 Other currencies - Sell (6.6) 6.6 (9.6) 9.6 Total $ 164.6 $ 256.8 $ 214.4 $ 262.2

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Income (Loss) Before Income Taxes And Minority Interests	The Company's geographic sources of income before income taxes were as follows (in millions): Year ended December 31, 2024 2023 2022 United States $ 1,584.3 $ 2,222.2 $ 1,979.8 Foreign 253.1 313.6 382.4 Income before income taxes $ 1,837.4 $ 2,535.8 $ 2,362.2
Schedule of Provision (Benefit) For Income Taxes	The Company's provision for income taxes was as follows (in millions): Year ended December 31, 2024 2023 2022 Current: Federal $ 276.6 $ 372.7 $ 331.9 State and local 20.4 21.6 31.8 Foreign 52.0 76.9 73.8 Total 349.0 471.2 437.5 Deferred: Federal (58.2) (107.9) (36.9) State and local (18.1) 13.2 25.7 Foreign (9.9) (26.3) 32.1 Total (86.2) (121.0) 20.9 Total provision $ 262.8 $ 350.2 $ 458.4
Schedule of Reconciliation Of The U.S. Federal Statutory Income Tax Rate	A reconciliation of the U.S. federal statutory income tax rate to the Company's effective income tax rate was as follows: Year ended December 31, 2024 2023 2022 U.S. federal statutory rate 21.0 % 21.0 % 21.0 % Increase (decrease) resulting from: State and local taxes, net of federal tax benefit 0.4 0.7 1.7 Impact of foreign operations 1.4 0.3 1.7 Foreign derived intangible income benefit (6.9) (6.8) (7.4) Nondeductible goodwill — — 3.1 Change in valuation allowance and related effects (1) 0.2 0.5 (0.1) Share-based compensation costs 0.2 (0.2) (0.5) U.S. federal R&D credit (1.1) (0.4) (0.2) Non-deductible officer compensation 0.4 0.3 0.3 Impact of audit settlement (0.7) (1.8) — Other (0.6) 0.2 (0.2) Total 14.3 % 13.8 % 19.4 % (1)
Schedule of Tax Effects Of Temporary Differences	The tax effects of temporary differences in the recognition of income and expense for tax and financial reporting purposes that give rise to significant portions of the net deferred tax asset (liability) were as follows (in millions): As of December 31, 2024 2023 NOL and tax credit carryforwards $ 308.7 $ 227.6 163 (j) interest expense carryforward 4.4 4.6 Lease liabilities 57.6 59.7 ROU asset (52.7) (58.9) Tax-deductible goodwill and amortizable intangibles (31.6) (32.2) Capitalization of research and development expenses 523.7 419.9 Reserves and accruals 61.7 60.2 Property, plant and equipment (122.1) (165.1) Inventories 116.0 134.2 Undistributed earnings of foreign subsidiaries (77.8) (67.7) Share-based compensation 10.4 9.7 Pension 0.2 5.8 Convertible Debt 89.0 108.1 Other 21.0 6.5 Deferred tax assets and liabilities before valuation allowance 908.5 712.4 Valuation allowance (216.2) (150.3) Net deferred tax asset $ 692.3 $ 562.1
Schedule of Unrecognized Tax Benefits Roll Forward	The activity for unrecognized gross tax benefits was as follows (in millions): 2024 2023 2022 Balance at beginning of year $ 67.7 $ 136.8 $ 137.2 Additions for tax benefits related to the current year 5.2 3.4 3.3 Additions for tax benefits of prior years 1.4 0.7 0.5 Reductions for tax benefits of prior years (22.3) (48.0) (0.3) Lapse of statute (4.0) (9.9) (3.8) Settlements (2.3) (15.3) (0.1) Balance at end of year $ 45.7 $ 67.7 $ 136.8

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Amounts comprising the Company's accumulated other comprehensive loss and reclassifications were as follows (in millions): Currency Translation Adjustments Effects of Cash Flow Hedges Total Balance December 31, 2022 $ (50.4) $ 27.2 $ (23.2) Other comprehensive income (loss) prior to reclassifications (2.1) 0.9 (1.2) Amounts reclassified from accumulated other comprehensive loss — (20.8) (20.8) Net current period other comprehensive loss (1) (2.1) (19.9) (22.0) Balance December 31, 2023 (52.5) 7.3 (45.2) Other comprehensive income (loss) prior to reclassifications (3.4) 8.1 4.7 Amounts reclassified from accumulated other comprehensive loss — (21.9) (21.9) Net current period other comprehensive loss (1) (3.4) (13.8) (17.2) Balance December 31, 2024 $ (55.9) $ (6.5) $ (62.4) (1) Effects of cash flow hedges are net of $2.0 million of tax benefit and $0.2 million of tax expense for the years ended December 31, 2024 and 2023, respectively.
Schedule of Reclassifications from Accumulated Other Comprehensive Loss	Amounts reclassified from accumulated other comprehensive loss to the specific caption within the Consolidated Statements of Operations and Comprehensive Income were as follows (in millions): Year ended December 31, 2024 2023 To caption Cash flow hedges $ (10.0) $ (0.1) Cost of revenue Interest rate swaps — (13.8) Interest expense Interest rate swaps terminations (11.9) (6.9) Other Income Total $ (21.9) $ (20.8)

Supplemental Disclosures (Table

Supplemental Disclosures (Tables)	12 Months Ended
	Dec. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Certain of the Company's cash and non-cash activities were as follows (in millions): Year ended December 31, 2024 2023 2022 Non-cash investing activities: Capital expenditures in accounts payable and other long-term liabilities $ 210.4 $ 303.0 $ 324.8 Operating ROU assets obtained in exchange of lease liabilities 53.8 25.8 140.1 Finance ROU assets obtained in exchange of lease liabilities 0.5 — 25.4 Amount due to seller in connection with the EFK acquisition — — 236.3 Cash paid for: Interest expense $ 62.7 $ 73.2 $ 80.7 Income taxes 347.5 428.2 443.2 Operating lease payments in operating cash flows 44.2 45.7 42.5
Schedule of Cash and Cash Equivalents	Following is a reconciliation of the captions in the Consolidated Balance Sheets to the Consolidated Statements of Cash Flows (in millions): As of December 31, 2024 2023 2022 Consolidated Balance Sheets: Cash and cash equivalents $ 2,691.3 $ 2,483.0 $ 2,919.0 Restricted cash (included in other current assets) 2.1 2.0 14.0 Cash, cash equivalents and restricted cash in Consolidated Statements of Cash Flows $ 2,693.4 $ 2,485.0 $ 2,933.0
Schedule of Restrictions on Cash and Cash Equivalents	Following is a reconciliation of the captions in the Consolidated Balance Sheets to the Consolidated Statements of Cash Flows (in millions): As of December 31, 2024 2023 2022 Consolidated Balance Sheets: Cash and cash equivalents $ 2,691.3 $ 2,483.0 $ 2,919.0 Restricted cash (included in other current assets) 2.1 2.0 14.0 Cash, cash equivalents and restricted cash in Consolidated Statements of Cash Flows $ 2,693.4 $ 2,485.0 $ 2,933.0

Background and Basis of Prese_2

Background and Basis of Presentation (Details)	12 Months Ended
	Dec. 31, 2024 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	3
Number of reportable segments	3

Significant Accounting Polici_3

Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2024
Significant Accounting Policies [Line Items]
Term for scheduled deliveries (up to)	1 year
Payment terms (in days)	30 days
Payment period to receive cash discount (in days)	10 days
Standard product warranty, period from the date of delivery (in years)	2 years
ISG
Significant Accounting Policies [Line Items]
Standard product warranty, period from the date of delivery (in years)	1 year
Minimum
Significant Accounting Policies [Line Items]
Payment terms (in days)	30 days
Minimum | Building
Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment (in years)	30 years
Minimum | Computers, machinery and equipment
Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment (in years)	3 years
Maximum
Significant Accounting Policies [Line Items]
Payment terms (in days)	90 days
Maximum | Computers, machinery and equipment
Significant Accounting Policies [Line Items]
Estimated useful lives of property, plant and equipment (in years)	20 years

Segments and Revenue - Narrativ

Segments and Revenue - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022
Segment Reporting Information [Line Items]
Number of operating segments | segment	3
Number of reportable segments | segment	3
Revenue remaining performance obligation, amount | $	$ 11,900
Revenue remaining performance obligation, current obligation, maximum term (in years)	1 year
Revenue remaining performance obligation, percentage	35%
LTSA, non-cancellable capacity payments, maturity term (in days)	30 days
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Segment Reporting Information [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months
Long Term Supply Arrangement
Segment Reporting Information [Line Items]
Revenue recognized for satisfying performance obligations | $	$ 110.9	$ 88.2
Revenue from Contract with Customer Benchmark | Customer Concentration Risk | Product Sales
Segment Reporting Information [Line Items]
Concentration risk, percentage	99%	97%	98%
Revenue from Contract with Customer Benchmark | Customer Concentration Risk | Manufacturing Services And Product Development Agreements
Segment Reporting Information [Line Items]
Concentration risk, percentage	1%	3%	2%
One Customer | Revenue from Contract with Customer Benchmark | Customer Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	10%		12%
One Customer | Accounts Receivable | Customer Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	13%

Segments and Revenue - Schedule

Segments and Revenue - Schedule of Revenue and Gross Profit from Operating and Reportable Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenue from external customers	$ 7,082.3	$ 8,253	$ 8,326.2
Cost of revenue	3,866.2	4,369.5	4,249
Segment gross profit	3,216.1	3,883.5	4,077.2
PSG
Segment Reporting Information [Line Items]
Revenue from external customers	3,348.2	3,880.4	3,467.1
Cost of revenue	1,963.8	2,058.5	1,866.7
Segment gross profit	1,384.4	1,821.9	1,600.4
AMG
Segment Reporting Information [Line Items]
Revenue from external customers	2,609.1	3,057.1	3,582.4
Cost of revenue	1,302.8	1,635.8	1,714
Segment gross profit	1,306.3	1,421.3	1,868.4
ISG
Segment Reporting Information [Line Items]
Revenue from external customers	1,125	1,315.5	1,276.7
Cost of revenue	599.6	675.2	668.3
Segment gross profit	$ 525.4	$ 640.3	$ 608.4

Segments and Revenue - Schedu_2

Segments and Revenue - Schedule of Revenue for the Company's Operating and Reportable Segments Disaggregated into Geographic Locations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenue	$ 7,082.3	$ 8,253	$ 8,326.2
Distributors
Segment Reporting Information [Line Items]
Revenue	3,759.6	4,309.1	4,807.3
Direct Customers
Segment Reporting Information [Line Items]
Revenue	3,322.7	3,943.9	3,518.9
PSG
Segment Reporting Information [Line Items]
Revenue	3,348.2	3,880.4	3,467.1
PSG | Distributors
Segment Reporting Information [Line Items]
Revenue	2,051.5	2,238.6	2,167.5
PSG | Direct Customers
Segment Reporting Information [Line Items]
Revenue	1,296.7	1,641.8	1,299.6
AMG
Segment Reporting Information [Line Items]
Revenue	2,609.1	3,057.1	3,582.4
AMG | Distributors
Segment Reporting Information [Line Items]
Revenue	1,338.7	1,494.2	1,948.4
AMG | Direct Customers
Segment Reporting Information [Line Items]
Revenue	1,270.4	1,562.9	1,634
ISG
Segment Reporting Information [Line Items]
Revenue	1,125	1,315.5	1,276.7
ISG | Distributors
Segment Reporting Information [Line Items]
Revenue	369.4	576.3	691.4
ISG | Direct Customers
Segment Reporting Information [Line Items]
Revenue	755.6	739.2	585.3
Hong Kong
Segment Reporting Information [Line Items]
Revenue	1,779.3	2,168.6	2,315.8
Hong Kong | PSG
Segment Reporting Information [Line Items]
Revenue	876.1	1,151.7	1,083.1
Hong Kong | AMG
Segment Reporting Information [Line Items]
Revenue	661.6	764.2	974.5
Hong Kong | ISG
Segment Reporting Information [Line Items]
Revenue	241.6	252.7	258.2
Singapore
Segment Reporting Information [Line Items]
Revenue	1,733.2	1,938.8	2,133.9
Singapore | PSG
Segment Reporting Information [Line Items]
Revenue	991	1,095.1	955.7
Singapore | AMG
Segment Reporting Information [Line Items]
Revenue	617.1	640.4	978.2
Singapore | ISG
Segment Reporting Information [Line Items]
Revenue	125.1	203.3	200
United Kingdom
Segment Reporting Information [Line Items]
Revenue	1,637.8	1,753.4	1,492.3
United Kingdom | PSG
Segment Reporting Information [Line Items]
Revenue	712.8	769.9	617.9
United Kingdom | AMG
Segment Reporting Information [Line Items]
Revenue	502.5	647.6	598.9
United Kingdom | ISG
Segment Reporting Information [Line Items]
Revenue	422.5	335.9	275.5
United States
Segment Reporting Information [Line Items]
Revenue	1,307.5	1,573.7	1,464.7
United States | PSG
Segment Reporting Information [Line Items]
Revenue	525.4	604.3	543.7
United States | AMG
Segment Reporting Information [Line Items]
Revenue	596.7	642.1	585.6
United States | ISG
Segment Reporting Information [Line Items]
Revenue	185.4	327.3	335.4
Other
Segment Reporting Information [Line Items]
Revenue	624.5	818.5	919.5
Other | PSG
Segment Reporting Information [Line Items]
Revenue	242.9	259.4	266.7
Other | AMG
Segment Reporting Information [Line Items]
Revenue	231.2	362.8	445.2
Other | ISG
Segment Reporting Information [Line Items]
Revenue	$ 150.4	$ 196.3	$ 207.6

Segments and Revenue - Schedu_3

Segments and Revenue - Schedule of Property, Plant and Equipment, Net by Geographic Location (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total	$ 4,361.4	$ 4,401.5
United States
Segment Reporting Information [Line Items]
Total	1,410.8	1,456.5
South Korea
Segment Reporting Information [Line Items]
Total	1,423.8	1,360.8
Philippines
Segment Reporting Information [Line Items]
Total	208.1	252.9
Czech Republic
Segment Reporting Information [Line Items]
Total	612.3	559.7
China
Segment Reporting Information [Line Items]
Total	228.8	252.2
Malaysia
Segment Reporting Information [Line Items]
Total	183.1	199.3
Vietnam
Segment Reporting Information [Line Items]
Total	155.3	164.3
Other
Segment Reporting Information [Line Items]
Total	$ 139.2	$ 155.8

Segments and Revenue - Schedu_4

Segments and Revenue - Schedule of Revenue Disaggregated into End-Markets And Product Technologies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenue	$ 7,082.3	$ 8,253	$ 8,326.2
Automotive
Segment Reporting Information [Line Items]
Revenue	3,900.8	4,319.9	3,360.8
Industrial
Segment Reporting Information [Line Items]
Revenue	1,800.8	2,278.4	2,290.5
Other
Segment Reporting Information [Line Items]
Revenue	1,380.7	1,654.7	2,674.9
Intelligent Power
Segment Reporting Information [Line Items]
Revenue	3,648.6	4,214.8	3,997.3
Intelligent Sensing
Segment Reporting Information [Line Items]
Revenue	1,379.2	1,606.8	1,573.7
Other
Segment Reporting Information [Line Items]
Revenue	$ 2,054.5	$ 2,431.4	$ 2,755.2

Segments and Revenue - Schedu_5

Segments and Revenue - Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Contract assets included in:
Other current assets	$ 39.9	$ 83.1
Other assets	0	12
Total	39.9	95.1
Contract liabilities included in:
Accrued expenses and other current liabilities	98.2	87.6
Other long-term liabilities	120.9	216.6
Total	$ 219.1	$ 304.2

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) $ in Millions			1 Months Ended	12 Months Ended
	Jan. 03, 2023 USD ($)	Dec. 31, 2022 USD ($) facility	Jul. 31, 2024 USD ($)	Dec. 31, 2022 USD ($) facility	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Acquisition and divestiture related costs		$ 12.9		$ 12.9			$ 13.1	$ 0
Number of business divested | facility		4		4
Disposal Group Not Discontinued Operation Gain Loss On Disposal Statement Of Income Extensible List Not Disclosed Flag				gain on divestiture
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Gain on disposal				$ 67
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Belgium Fab
Business Acquisition [Line Items]
Cash consideration received		$ 19.9		19.9
Disposal Group, Disposed of by Sale, Not Discontinued Operations | South Portland
Business Acquisition [Line Items]
Cash consideration received		80		80
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Pocatello, Idaho
Business Acquisition [Line Items]
Cash consideration received		80		80
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Niigata, Japan
Business Acquisition [Line Items]
Cash consideration received		90.3		$ 90.3
SWIR Visions Systems (SWIR)
Business Acquisition [Line Items]
Cash consideration			$ 20.5
EFK
Business Acquisition [Line Items]
Cash consideration		$ 406.3
Non-refundable deposit					$ 100	$ 70
Deferred payments	$ 236.3
License fee						$ 30

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Schedule of Purchase Price Allocation (Details) - EFK $ in Millions	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Inventories	$ 3.3
Other current assets	4.4
Property, plant and equipment	396.5
Other non-current assets	11.4
Total assets acquired	415.6
Current liabilities	3
Other long-term liabilities	6.3
Total liabilities assumed	9.3
Net assets acquired/purchase price	$ 406.3

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Mar. 29, 2024
Goodwill and Intangible Assets [Line Items]
Reallocation	$ 0
Goodwill, impairment loss	10.3
Amortization of acquisition-related intangible assets	58.3	$ 56.8	$ 82.8
Impairment, Intangible Asset, Statement of Income or Comprehensive Income [Extensible Enumeration]			Goodwill and intangible asset impairment
AMG
Goodwill and Intangible Assets [Line Items]
Reallocation	$ 25.9			$ 25.9
Advanced Solutions Group
Goodwill and Intangible Assets [Line Items]
Goodwill, impairment loss			$ 330
Impairment of intangible assets			$ 56.8

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Goodwill by Operating and Reportable Segment (Details) - USD ($) $ in Millions	Dec. 31, 2024	Mar. 29, 2024	Dec. 31, 2023
Goodwill [Line Items]
Goodwill	$ 2,368.7		$ 2,358.4
Accumulated Impairment Losses	(780.8)		(780.8)
Reallocation	0
Carrying Value	1,587.9		1,577.6
AMG
Goodwill [Line Items]
Goodwill	1,536.4		1,536.4
Accumulated Impairment Losses	(748.9)		(748.9)
Reallocation	25.9	$ 25.9
Carrying Value	813.4		787.5
PSG
Goodwill [Line Items]
Goodwill	708		708
Accumulated Impairment Losses	(31.9)		(31.9)
Reallocation	(25.9)
Carrying Value	650.2		676.1
ISG
Goodwill [Line Items]
Goodwill	124.3		114
Accumulated Impairment Losses	0		0
Reallocation	0
Carrying Value	$ 124.3		$ 114

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Change in Goodwill (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 1,577.6
Addition due to business acquisition	10.3
Ending balance	$ 1,587.9

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Carrying Value	$ 257.9	$ 299.3
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Original Cost	581.7	581.5
Accumulated Amortization	(483.5)	(473.3)
Accumulated Impairment Losses	(36.3)	(36.3)
Carrying Value	61.9	71.9
Developed technology
Finite-Lived Intangible Assets [Line Items]
Original Cost	956.3	939.6
Accumulated Amortization	(739.7)	(696.4)
Accumulated Impairment Losses	(40.7)	(40.7)
Carrying Value	175.9	202.5
Licenses
Finite-Lived Intangible Assets [Line Items]
Original Cost	30	30
Accumulated Amortization	(9.9)	(5.1)
Accumulated Impairment Losses	0	0
Carrying Value	20.1	24.9
Other intangibles
Finite-Lived Intangible Assets [Line Items]
Original Cost	79.1	79.1
Accumulated Amortization	(63.9)	(63.9)
Accumulated Impairment Losses	(15.2)	(15.2)
Carrying Value	0	0
Total
Finite-Lived Intangible Assets [Line Items]
Original Cost	1,647.1	1,630.2
Accumulated Amortization	(1,297)	(1,238.7)
Accumulated Impairment Losses	(92.2)	(92.2)
Carrying Value	$ 257.9	$ 299.3

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets - Schedule of Amortization Expense (Details) $ in Millions	Dec. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 48
2026	41.8
2027	36
2028	31
2029	30.3
Thereafter	70.8
Total estimated amortization expense	$ 257.9

Restructuring, Asset Impairme_3

Restructuring, Asset Impairments and Other Charges, net - Schedule of Restructuring, Asset Impairments and Other Charges, Net (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) building
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 76	$ 58.5	$ 11.2
Asset Impairments	37.8	19.5	22.6
Other	20.1	(3.1)	(15.9)
Total	133.9	74.9	17.9
Other
Restructuring Cost and Reserve [Line Items]
Restructuring	0.3	(0.6)	(1.4)
Asset Impairments	0	10.2	4
Other	3.8	(5.9)	(34.8)
Total	4.1	3.7	$ (32.2)
Business Realignment
Restructuring Cost and Reserve [Line Items]
Restructuring	75.7	59.1
Asset Impairments	37.8	9.3
Other	16.3	2.8
Total	$ 129.8	$ 71.2
Other | Office Building
Restructuring Cost and Reserve [Line Items]
Number of buildings sold | building			2
QCS wind down
Restructuring Cost and Reserve [Line Items]
Restructuring			$ 12.6
Asset Impairments			18.6
Other			18.9
Total			50.1
QCS wind down | Contract Cancellation Charges
Restructuring Cost and Reserve [Line Items]
Other			15.4
QCS wind down | Legal Charges
Restructuring Cost and Reserve [Line Items]
Other			$ 3.5

Restructuring, Asset Impairme_4

Restructuring, Asset Impairments and Other Charges, net - Schedule of Changes in Accrued Restructuring Charges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Restructuring Reserve [Roll Forward]
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring, asset impairments and other charges, net	Restructuring, asset impairments and other charges, net
Accrued Restructuring
Restructuring Reserve [Roll Forward]
Beginning balance	$ 17.9	$ 4.4
Charges	76	58.5
Usage	(39.5)	(45)
Ending balance	$ 54.4	$ 17.9

Restructuring, Asset Impairme_5

Restructuring, Asset Impairments and Other Charges, net - Narrative (Details) $ in Millions		12 Months Ended
	Sep. 16, 2022 USD ($) employee	Dec. 31, 2024 USD ($) employee	Dec. 31, 2023 USD ($) job	Dec. 31, 2022 USD ($) employee
Restructuring Cost and Reserve [Line Items]
Restructuring costs		$ 76	$ 58.5	$ 11.2
Restructuring, asset impairments and other charges, net		$ 133.9	74.9	17.9
PP&E
Restructuring Cost and Reserve [Line Items]
Restructuring, asset impairments and other charges, net				8
Other miscellaneous assets
Restructuring Cost and Reserve [Line Items]
Restructuring, asset impairments and other charges, net				10.6
2024 Business Realignment
Restructuring Cost and Reserve [Line Items]
Number Of Employees | employee		1,500
Number of employees notified of termination | employee		1,200
Number of positions reassigned or relocated | employee		300
Expected restructuring cost		$ 77.9
Charges recognized		75.7
Payments for restructuring		$ 39.5
Number of positions eliminated | employee		1,100
Restructuring reserve		$ 48.3
2023 Business Realignment
Restructuring Cost and Reserve [Line Items]
Payments for restructuring		$ 11.1	$ 41.9
Number of positions eliminated | employee		1,600
Restructuring reserve		$ 6.1
Expected number of positions to be eliminated | job			1,900
Restructuring costs			$ 59.1
QCS wind down
Restructuring Cost and Reserve [Line Items]
Restructuring costs				12.6
Restructuring, asset impairments and other charges, net				50.1
QCS wind down | Legacy Quantenna Business
Restructuring Cost and Reserve [Line Items]
Charges recognized				18.9
Inventory reserves				$ 24.5
QCS wind down | Legacy Quantenna Business | Workforce Reduction
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated | employee				304
Number of employees notified | employee	330
Severance costs	$ 12.7

Balance Sheet Information - Sch

Balance Sheet Information - Schedule of Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Inventories:
Raw materials	$ 349.8	$ 469.3
Work in process	1,391.9	1,221.1
Finished goods	500.3	421.4
Total	2,242	2,111.8
Property, plant and equipment, net:
Property, plant and equipment, gross	8,320.2	7,931
Less: Accumulated depreciation	(3,958.8)	(3,529.5)
Total	4,361.4	4,401.5
Accrued expenses and other current liabilities:
Accrued payroll and related benefits	134.5	183.8
Sales-related reserves	225.5	108.3
Contract liabilities	98.2	87.6
Income taxes payable	25.1	37.4
Other	276.7	246.1
Total	760	663.2
Land
Property, plant and equipment, net:
Property, plant and equipment, gross	115.7	117.8
Buildings and improvements
Property, plant and equipment, net:
Property, plant and equipment, gross	1,423.2	1,324.2
Machinery, equipment and other
Property, plant and equipment, net:
Property, plant and equipment, gross	$ 6,781.3	$ 6,489

Balance Sheet Information - Nar

Balance Sheet Information - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Depreciation expense for property, plant and equipment	$ 523.6	$ 485.3	$ 398.1
Ship and credit reserves	$ 147.6	$ 74.3
Operating lease weighted average remaining lease term (in years)	10 years 2 months 12 days
Finance lease weighted average remaining lease term (in years)	17 years 2 months 12 days
Weighted average discount rate	5.20%
Finance lease weighted average discount rate percent	5.70%

Balance Sheet Information - S_2

Balance Sheet Information - Schedule of Components of Operating Lease Expense and Lease Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Operating lease	$ 54.7	$ 48	$ 47.8
Variable lease	5	5.1	9.8
Short-term lease	1.9	1.7	2.6
Total lease expense	61.6	54.8	$ 60.2
Operating lease liabilities included in:
Accrued expenses and other current liabilities	31.5	33
Other long-term liabilities	244.7	231
Total	$ 276.2	$ 264
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Operating lease assets	$ 249.7	$ 247.3
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued Liabilities, Current	Accrued Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent

Balance Sheet Information - S_3

Balance Sheet Information - Schedule of Reconciliation of the Maturities of the Operating and Financing Leases (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Operating Leases
2025	$ 44.2
2026	40.1
2027	35.6
2028	30.5
2029	28.1
Thereafter	190.1
Total lease payments	368.6
Less: Interest	(92.4)
Total lease liabilities	276.2	$ 264
Financing Leases
2025	1.5
2026	1.6
2027	1.6
2028	1.7
2029	1.7
Thereafter	26.3
Total lease payments	34.4
Less: Interest	(13.4)
Total lease liabilities	$ 21

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Gross long-term debt, including current maturities	$ 3,379.9	$ 3,379.9
Less: Debt discount	(3.4)	(4.2)
Less: Debt issuance costs	(30.6)	(39.1)
Net long-term debt, including current maturities	3,345.9	3,336.6
Less: Current maturities	0	(794)
Net long-term debt	3,345.9	2,542.6
Senior Revolving Credit Facility
Debt Instrument [Line Items]
Gross long-term debt, including current maturities	$ 375	$ 375
Debt instrument, interest rate (as a percent)	5.69%	6.71%
0.50% Notes | Convertible Debt
Debt Instrument [Line Items]
Gross long-term debt, including current maturities	$ 1,500	$ 1,500
Less: Debt issuance costs	$ (21.7)	$ (26.8)
Debt instrument, interest rate (as a percent)	0.50%	0.50%
0% Notes | Convertible Debt
Debt Instrument [Line Items]
Gross long-term debt, including current maturities	$ 804.9	$ 804.9
Less: Debt issuance costs	$ (7.7)	$ (10.9)
Debt instrument, interest rate (as a percent)	0%	0%
3.875% Notes | Notes Payable
Debt Instrument [Line Items]
Gross long-term debt, including current maturities	$ 700	$ 700
Less: Debt discount	(3.4)	(4.2)
Less: Debt issuance costs	$ (1.2)	$ (1.4)
Debt instrument, interest rate (as a percent)	3.875%	3.875%

Long-Term Debt - Schedule of Ex

Long-Term Debt - Schedule of Expected Maturities of Gross Long-Term Debt (Details) $ in Millions	Dec. 31, 2024 USD ($)
Debt Disclosure [Abstract]
2025	$ 0
2026	0
2027	804.9
2028	1,075
2029	1,500
Thereafter	0
Total	$ 3,379.9

Long-Term Debt - Maturity and L

Long-Term Debt - Maturity and Long-Term Debt Activity (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Mar. 29, 2024
Debt Instrument [Line Items]
Repayments of long-term debt	$ 0	$ 1,723.4	$ 530
Additional paid in capital	5,372.2	5,210.9
Treasury stock	$ 4,640.5	$ 3,937.4
0% Notes | Convertible Debt
Debt Instrument [Line Items]
Debt instrument, interest rate	0%	0%
1.625% Notes | Convertible Debt
Debt Instrument [Line Items]
Debt instrument, interest rate	1.625%	1.625%	1.625%	1.625%
Repayments of long-term debt		$ 119.6
Shares issued excess over the principal		4.5
1.625% Notes | Convertible Debt | Embedded Derivative Financial Instruments
Debt Instrument [Line Items]
Additional paid in capital		$ 422
Treasury stock		422
New Credit Agreement | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		1,500
0.50% Notes | Term Loan B Facility
Debt Instrument [Line Items]
Repayments of long-term debt		$ 1,086
0.50% Notes | Convertible Debt
Debt Instrument [Line Items]
Debt instrument, interest rate	0.50%	0.50%
Principal amount of debt		$ 1,500
Payments for net cost		$ 171.5

Long-Term Debt - Revolving Cred

Long-Term Debt - Revolving Credit Facility (Details) - New Credit Agreement - Line of Credit $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Line of Credit Facility [Line Items]
Maximum total net leverage ratio	4
Revolving Credit Facility
Line of Credit Facility [Line Items]
Remaining borrowing capacity	$ 1,125
Credit facility, maximum borrowing capacity		$ 1,500
Letter of Credit
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	25
Foreign Currency Sublimit
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity	$ 75

Long-Term Debt - 0.50% Notes an

Long-Term Debt - 0.50% Notes and 0% Notes (Details) $ / shares in Units, shares in Millions, $ in Millions		12 Months Ended
	Feb. 28, 2023	Dec. 31, 2024 USD ($) day $ / shares shares	Dec. 31, 2023
0.50% Notes | 0.50% Notes Warrants
Debt Instrument [Line Items]
Maximum number of shares to be issued in connection with warrants (in shares)		28.9
0.50% Notes | Convertible Debt
Debt Instrument [Line Items]
Debt instrument, interest rate		0.50%	0.50%
Maximum shares issuable (in shares)		19.1
Stock price trigger (in dollars per share) | $ / shares		$ 135.03
Conversion rate	0.0962770
0.50% Notes | Convertible Debt | 0.50% Notes Warrants
Debt Instrument [Line Items]
Number of convertible shares (in shares)		14.4
0% Notes | 0% Notes Warrants
Debt Instrument [Line Items]
Maximum number of shares to be issued in connection with warrants (in shares)		30.4
0% Notes | Convertible Debt
Debt Instrument [Line Items]
Debt instrument, interest rate		0%	0%
Maximum shares issuable (in shares)		21.7
Stock price trigger (in dollars per share) | $ / shares		$ 68.86
If-converted value in excess of principal | $		$ 153.2
0% Notes | Convertible Debt | 0% Notes Warrants
Debt Instrument [Line Items]
Number of convertible shares (in shares)		15.2
0.50% Notes and 0% Notes | Convertible Debt
Debt Instrument [Line Items]
Threshold percentage of stock price trigger (greater than or equal to)		130%
Threshold trading days | day		20
Threshold consecutive trading days | day		30
Percentage of principal amount redeemed		100%
0.50% Notes and 0% Notes | Convertible Debt | Debt Conversion One
Debt Instrument [Line Items]
Threshold percentage of stock price trigger (greater than or equal to)		130%
Threshold trading days | day		20
Threshold consecutive trading days | day		30
0.50% Notes and 0% Notes | Convertible Debt | Debt Conversion Two
Debt Instrument [Line Items]
Threshold consecutive trading days | day		5
Period immediately following consecutive trading days (in business days)		5 days
Ratio of trading price per 1000 principal amount (as a percent) (less than)		0.98

Earnings Per Share and Equity -

Earnings Per Share and Equity - Schedule of Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Mar. 29, 2024
Equity [Abstract]
Net income for basic earnings per share of common stock	$ 1,572.8	$ 2,183.7	$ 1,902.2
Add: Interest on 1.625% Notes	0	1.3	2
Net income for diluted earnings per share of common stock	$ 1,572.8	$ 2,185	$ 1,904.2
Basic weighted average shares of common stock outstanding (in shares)	427.4	430.7	433.2
Dilutive effect of share-based awards (in shares)	0.6	1.2	1.8
Dilutive effect of convertible notes and warrants (in shares)	4.7	14.9	13.2
Diluted weighted average shares of common stock outstanding (in shares)	432.7	446.8	448.2
Net income per share of common stock:
Basic (in dollars per share)	$ 3.68	$ 5.07	$ 4.39
Diluted (in dollars per share)	$ 3.63	$ 4.89	$ 4.25
1.625% Notes | Convertible Debt
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Debt instrument, interest rate	1.625%	1.625%	1.625%	1.625%

Earnings Per Share and Equity_2

Earnings Per Share and Equity - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 29, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jan. 31, 2025	Feb. 08, 2023	Dec. 31, 2021	Nov. 15, 2018
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive shares (in shares)		500,000	100,000	300,000
Share repurchases		$ 650,000,000	$ 564,000,000	$ 259,800,000
Treasury stock common (in shares)		199,700,380	189,895,570
Treasury stock		$ 4,640,500,000	$ 3,937,400,000
Payment of tax withholding for RSUs		(50,800,000)	(67,100,000)	(78,100,000)
Noncontrolling interest balance		18,100,000	18,000,000
Net Income (loss) attributable to noncontrolling interest		1,800,000	1,900,000	1,600,000
Dividend to non-controlling shareholder		1,700,000	$ 2,400,000	$ 2,100,000
Leshan
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Noncontrolling interest balance		$ 18,100,000
Leshan | Leshan
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Ownership percentage		80%
Treasury Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Treasury stock common (in shares)		199,700,380	189,895,570	176,431,298			170,571,261
Payment of tax withholding for RSUs		$ (50,800,000)	$ (67,100,000)	$ (78,100,000)
Payment of tax withholding for RSUs (in shares)		(676,539)	(805,107)	(1,254,030)
Non-Controlling Interest
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dividend to non-controlling shareholder		$ 1,700,000	$ 2,400,000	$ 2,100,000
2023 Program
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Authorized repurchases						$ 3,000,000,000
Share repurchases		$ 650,000,000	$ 564,000,000
2018 Program
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Authorized repurchases								$ 1,500,000,000
Share repurchases				260,000,000
Amount unutilized under the stock purchase program				$ 1,036,000,000
Company 10b5-1 Trading Arrangement | Subsequent Event
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Treasury stock common (in shares)					1,600,000
Treasury stock					$ 100,000,000
0.50% Notes Warrants
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Exercise price, warrants (in dollars per share)		$ 156.78
0% Notes Warrants
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Exercise price, warrants (in dollars per share)		$ 74.34
Note Warrant
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Exercise price, warrants (in dollars per share)	$ 30.70
Warrants exercised (in shares)	6,700,000
Shares issued for warrant settlement (in shares)	4,000,000
0.50% Notes | Convertible Debt
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Debt instrument, interest rate		0.50%	0.50%
Conversion price per share (in dollars per share)		$ 103.87
0.50% Notes | Convertible Debt | 0.50% Notes Warrants
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Shares issued for warrant settlement (in shares)		14,400,000
0% Notes | Convertible Debt
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Debt instrument, interest rate		0%	0%
Conversion price per share (in dollars per share)		$ 52.97
0% Notes | Convertible Debt | 0% Notes Warrants
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Shares issued for warrant settlement (in shares)		15,200,000
1.625% Notes | Convertible Debt
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Debt instrument, interest rate	1.625%	1.625%	1.625%	1.625%

Earnings Per Share and Equity_3

Earnings Per Share and Equity - Schedule of Share Repurchase Program (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Number of repurchased shares (in shares)	9,100,000	7,600,000	4,000,000
Aggregate purchase price	$ 650	$ 564	$ 259.8
Fees, commissions and excise tax	2.3	4.1	0
Total	$ 652.3	$ 568.1	$ 259.8
Weighted-average purchase price per share (in dollars per share)	$ 71.21	$ 74.54	$ 65.13
Available amounts	$ 1,786	$ 2,436	$ 1,036
Treasury shares reissued or retired (in shares)	0

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Share-Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 136.1	$ 121.1	$ 100.8
Income tax benefit	(28.6)	(25.4)	(21.2)
Share-based compensation expense, net of taxes	107.5	95.7	79.6
Cost of revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	24.6	18.1	12
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	24.7	20.5	17.6
Selling and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	21.3	18.6	16.4
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 65.5	$ 63.9	$ 54.8

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($) shares in Millions, $ in Millions			12 Months Ended
	May 20, 2021	Mar. 23, 2010	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in shares available for issuance under the plan (in shares)	22.5
Shares available for issuance under the plan (in shares)	109.5
Share-based compensation expense			$ 136.1	$ 121.1	$ 100.8
Amended And Restated Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate of common stock available for grant (in shares)			33.6
Time Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense recognized on restricted stock units			$ 75.1
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognition period for compensation expense (in years)			1 year 7 months 6 days
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense on non-vested restricted stock units			$ 150
Pre-vesting forfeitures (as a percent)			8%	8%	8%
Granted (in shares)			2.3
Compensation expense recognized on restricted stock units			$ 128.4
Restricted Stock Units | Officers And Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			0.9
Equity awards vested in period, value			$ 142.9	$ 202.6	$ 232.8
Service Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense on non-vested restricted stock units			$ 100.6
Service Based Restricted Stock Units | Amended And Restated Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		3 years
Performance And Market Based Restricted Stock Units | Amended And Restated Stock Incentive Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		2 years
Performance And Market Based Restricted Stock Units | Amended And Restated Stock Incentive Plan | Median
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		3 years
Performance And Market Based Restricted Stock Units | Amended And Restated Stock Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		5 years
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in shares available for issuance under the plan (in shares)	6
Shares available for issuance under the plan (in shares)	34.5
Aggregate of common stock available for grant (in shares)			6.9
Share-based compensation expense			$ 7.7
Stock Issued During Period, Shares, Employee Stock Purchase Plans			0.4	0.4	0.5
Performance Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense on non-vested restricted stock units			$ 12.6
Market Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense on non-vested restricted stock units			$ 36.8

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Restricted Stock Units Transactions (Details) - Restricted Stock Units shares in Millions	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Number of Shares
Nonvested shares of restricted stock units beginning (in shares) | shares	3.2
Granted (in shares) | shares	2.3
Achieved (in shares) | shares	0.3
Released (in shares) | shares	(1.9)
Forfeited (in shares) | shares	(0.4)
Nonvested shares of restricted stock units ending (in shares) | shares	3.5
Weighted-Average Grant Date Fair Value
Nonvested shares of restricted stock units beginning (in dollars per share) | $ / shares	$ 69.39
Granted (in dollars per share) | $ / shares	77.15
Achieved (in dollars per share) | $ / shares	61.20
Released (in dollars per share) | $ / shares	63.87
Forfeited (in dollars per share) | $ / shares	73.28
Nonvested shares of restricted stock units ending (in dollars per share) | $ / shares	$ 76.27

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Actuarial and other gain (loss)	$ 12.2	$ (4)	$ 22.1
Net actuarial gain (loss)	9.5	(7.8)
Gain related to higher-than-expected returns on plan assets	$ 2.7
Employer contribution as percentage of employee contribution	100%
United States
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Compensation expense recognized	$ 20	19.9	14.7
Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Expected future employer contributions, next year	0
Compensation expense recognized	$ 23.7	$ 22.3	$ 20.5
Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Percentage of employee contribution, basis for employer contribution	0%
Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Percentage of employee contribution, basis for employer contribution	4%

Employee Benefit Plans - Summar

Employee Benefit Plans - Summary of Net Periodic Pension Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Service cost	$ 5	$ 4.7	$ 8.1
Interest cost	$ 5.6	$ 6.3	$ 4
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest rate swaps terminations	Interest rate swaps terminations	Interest rate swaps terminations
Expected return on plan assets	$ (4.7)	$ (4.7)	$ (4.3)
Actuarial (gains) losses	(12.2)	4	(22.1)
Total net periodic pension (gain) cost	$ (6.3)	$ 10.3	$ (14.3)
Discount rate used for net periodic pension costs	3.28%	3.27%	1.54%
Discount rate used for pension benefit obligations	3.84%	3.63%	3.63%
Expected return on plan assets	3.65%	3.46%	2.98%
Rate of compensation increase	4.32%	4.26%	3.43%

Employee Benefit Plans - Summ_2

Employee Benefit Plans - Summary of Status Of Foreign Pension Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Change in projected benefit obligation ("PBO"):
PBO at the beginning of the year	$ 191.1	$ 185.5
Divestiture of business	(21.5)	0
Service cost	5	4.7	$ 8.1
Interest cost	5.6	6.3	4
Net actuarial (gain) loss	(9.5)	7.8
Benefits paid by plan assets	(12.8)	(10.7)
Benefits paid by the Company	(4.2)	(3.2)
Participant contributions	0	0.1
Translation and other (gain) loss	(10.7)	0.6
PBO at the end of the year	143	191.1	185.5
Accumulated benefit obligation at the end of the year	116.8	157.3
Change in plan assets:
Fair value of plan assets at the beginning of the year	140.3	131.7
Divestiture of businesses	(22.2)	0
Actual return on plan assets	7.4	8.5
Benefits paid from plan assets	(12.8)	(10.7)
Employer contributions	2.5	11.3
Translation and other loss	(9.1)	(0.5)
Fair value of plan assets at the end of the year	106.1	140.3	$ 131.7
Plans with underfunded or non-funded PBO:
PBO	101	118.2
Fair value of plan assets	42.1	50.2
Plans with underfunded or non-funded accumulated benefit obligation:
Accumulated benefit obligation	76.4	87.7
Fair value of plan assets	42.1	50.2
Amounts recognized in the balance sheet consist of:
Current assets	0	0.7
Non-current assets	22.5	16.4
Current liabilities	(1.9)	(1.4)
Non-current liabilities	(57.5)	(66.5)
Funded status	$ (36.9)	$ (50.8)

Employee Benefit Plans - Fair V

Employee Benefit Plans - Fair Value Measurement of Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Allocation	100%	100%
Pension assets	$ 106.1	$ 140.3	$ 131.7
Cash/Money Markets
Defined Benefit Plan Disclosure [Line Items]
Allocation	3%	2%
Pension assets	$ 3.2	$ 3.5
Foreign Government/Treasury Securities
Defined Benefit Plan Disclosure [Line Items]
Allocation	14%	7%
Pension assets	$ 14.5	$ 9.9
Corporate Bonds, Debentures
Defined Benefit Plan Disclosure [Line Items]
Allocation	24%	31%
Pension assets	$ 25.3	$ 43.2
Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Allocation	34%	22%
Pension assets	$ 36.1	$ 31.3
Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Allocation		9%
Pension assets		$ 11.9
Investment and Insurance Contracts
Defined Benefit Plan Disclosure [Line Items]
Allocation	25%	29%
Pension assets	$ 27	$ 40.5
Level 1
Defined Benefit Plan Disclosure [Line Items]
Pension assets	17.7	13.4
Level 1 | Cash/Money Markets
Defined Benefit Plan Disclosure [Line Items]
Pension assets	3.2	3.5
Level 1 | Foreign Government/Treasury Securities
Defined Benefit Plan Disclosure [Line Items]
Pension assets	14.5	9.9
Level 1 | Corporate Bonds, Debentures
Defined Benefit Plan Disclosure [Line Items]
Pension assets	0	0
Level 1 | Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Pension assets	0	0
Level 1 | Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension assets		0
Level 1 | Investment and Insurance Contracts
Defined Benefit Plan Disclosure [Line Items]
Pension assets	0	0
Level 2
Defined Benefit Plan Disclosure [Line Items]
Pension assets	68.9	102.4
Level 2 | Cash/Money Markets
Defined Benefit Plan Disclosure [Line Items]
Pension assets	0	0
Level 2 | Foreign Government/Treasury Securities
Defined Benefit Plan Disclosure [Line Items]
Pension assets	0	0
Level 2 | Corporate Bonds, Debentures
Defined Benefit Plan Disclosure [Line Items]
Pension assets	25.3	43.2
Level 2 | Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Pension assets	36.1	31.3
Level 2 | Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension assets		11.9
Level 2 | Investment and Insurance Contracts
Defined Benefit Plan Disclosure [Line Items]
Pension assets	7.5	16
Level 3
Defined Benefit Plan Disclosure [Line Items]
Pension assets	19.5	24.5
Level 3 | Cash/Money Markets
Defined Benefit Plan Disclosure [Line Items]
Pension assets	0	0
Level 3 | Foreign Government/Treasury Securities
Defined Benefit Plan Disclosure [Line Items]
Pension assets	0	0
Level 3 | Corporate Bonds, Debentures
Defined Benefit Plan Disclosure [Line Items]
Pension assets	0	0
Level 3 | Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Pension assets	0	0
Level 3 | Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Pension assets		0
Level 3 | Investment and Insurance Contracts
Defined Benefit Plan Disclosure [Line Items]
Pension assets	$ 19.5	$ 24.5	$ 23.8

Employee Benefit Plans - Activi

Employee Benefit Plans - Activity of Plan Assets With Fair Value Measurement Using Significant Unobservable Inputs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets at the beginning of the year	$ 140.3	$ 131.7
Foreign currency impact	(9.1)	(0.5)
Fair value of plan assets at the end of the year	106.1	140.3
Investment and Insurance Contracts
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets at the beginning of the year	40.5
Fair value of plan assets at the end of the year	27	40.5
Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets at the beginning of the year	24.5
Fair value of plan assets at the end of the year	19.5	24.5
Level 3 | Investment and Insurance Contracts
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets at the beginning of the year	24.5	23.8
Actual return on plan assets	0.8	1.2
Purchase, sales and settlements, net	(4.5)	(1.3)
Foreign currency impact	(1.3)	0.8
Fair value of plan assets at the end of the year	$ 19.5	$ 24.5

Employee Benefit Plans - Expect

Employee Benefit Plans - Expected Benefit Payments (Details) $ in Millions	Dec. 31, 2024 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
2025	$ 7.6
2026	5.8
2027	8.1
2028	9.3
2029	12.9
Five years thereafter	55.4
Total	$ 99.1

Commitments and Contingencies -

Commitments and Contingencies - Future Minimum Purchase Obligations Under Non-cancelable Agreements (Details) $ in Millions	Dec. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2025	$ 735.5
2026	350.9
2027	77.8
2028	46
2029	29.7
Thereafter	8
Total	$ 1,247.9

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Loss Contingencies [Line Items]
Availability under senior revolving credit facility	$ 25
Outstanding guarantees and letters of credit outside of Revolving Credit Facility	6.6
Guarantees related subsidiaries	$ 0.9
Government assistance recapture period	10 years
Minimum
Loss Contingencies [Line Items]
Government assistance agreement, term	1 year
Maximum
Loss Contingencies [Line Items]
Government assistance agreement, term	20 years
Cost of revenue
Loss Contingencies [Line Items]
Government assistance	$ 10.8	$ 5.1
Government Assistance, Income, Increase (Decrease), Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of revenue	Cost of revenue
Operating Expense
Loss Contingencies [Line Items]
Government assistance	$ 5.3	$ 4.9
Government Assistance, Income, Increase (Decrease), Statement of Income or Comprehensive Income [Extensible Enumeration]	Operating Expenses	Operating Expenses
Other current assets
Loss Contingencies [Line Items]
Government assistance, cumulative	$ 86.3	$ 12.9
Government Assistance, Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets	Other current assets
Other non-current assets
Loss Contingencies [Line Items]
Government assistance, cumulative	$ 2.4	$ 5.2
Government Assistance, Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
PP&E
Loss Contingencies [Line Items]
Government assistance, decrease to cumulative	$ (104.4)	$ (80.4)
Accrued expenses and other current liabilities
Loss Contingencies [Line Items]
Government assistance, cumulative		$ 83.6
Government Assistance, Asset, Statement of Financial Position [Extensible Enumeration]		Accrued Liabilities, Current
Letter of Credit | Senior Revolving Credit Facility
Loss Contingencies [Line Items]
Credit commitment outstanding	0.9
Fairchild
Loss Contingencies [Line Items]
Maximum remediation cost recoveries receivable	$ 150

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Non-financial Assets | Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-financial assets	$ 0	$ 0	$ 0
0% Notes | Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, interest rate	0%	0%
0.50% Notes | Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, interest rate	0.50%	0.50%
3.875% Notes | Notes Payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, interest rate	3.875%	3.875%
Other Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost		$ 0
Bank Time Deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 300,000,000

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Long-Term Debt, Including Current Portion (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	$ 3,379.9
Convertible Debt | 0.50% Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, interest rate	0.50%	0.50%
Carrying Amount	$ 1,478.2	$ 1,473.1
Fair Value	$ 1,450.4	$ 1,596.6
Convertible Debt | 0% Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, interest rate	0%	0%
Carrying Amount	$ 797.2	$ 794
Fair Value	$ 1,054.4	$ 1,334.4
Notes Payable | 3.875% Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, interest rate	3.875%	3.875%
Carrying Amount	$ 695.5	$ 694.4
Fair Value	656.3	652
Revolving Credit Facility | Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	375	375
Fair Value	$ 373.4	$ 390.6

Fair Value Measurements - Adjus

Fair Value Measurements - Adjustments to Fair Value of Non-Financial Assets (Details) - Fair Value, Measurements, Nonrecurring - Fair Value Inputs (Level 3) - Changes Measurement - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill impairments (Level 3)	$ 0	$ 0	$ 330
Intangibles impairment (Level 3)	0	0	56.8
Asset impairments (Level 3)	37.8	10.5	14.8
Total	$ 37.8	$ 10.5	$ 401.6

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Mar. 29, 2024
Derivatives, Fair Value [Line Items]
Accumulated other comprehensive income	$ (62.4)	$ (45.2)
0% Notes | Convertible Debt
Derivatives, Fair Value [Line Items]
Debt instrument, interest rate	0%	0%
0.50% Notes | Convertible Debt
Derivatives, Fair Value [Line Items]
Debt instrument, interest rate	0.50%	0.50%
1.625% Notes | Convertible Debt
Derivatives, Fair Value [Line Items]
Debt instrument, interest rate	1.625%	1.625%	1.625%	1.625%
Foreign exchange contract
Derivatives, Fair Value [Line Items]
Notional Amount	$ 256.8	$ 262.2
Foreign currency transaction (loss) gain realized	0.9	(7.9)	$ (0.7)
Foreign exchange contract | Cash Flow Hedging | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional Amount	145.1	92.2
Derivative liability	8.2
Derivative asset		0.9
Loss on hedging activity	$ 10	0.1
Foreign exchange contract | Minimum
Derivatives, Fair Value [Line Items]
Derivative, term of contract (in months)	2 months
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Notional Amount		500
Proceeds from derivative instrument, investing activities		27.7
Other income	$ 11.9	6.9
Accumulated other comprehensive income		$ 20.7

Financial Instruments - Schedul

Financial Instruments - Schedule of Net Foreign Exchange Positions (Details) - Foreign exchange contract - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Financial Instruments [Line Items]
Buy (Sell)	$ 164.6	$ 214.4
Notional Amount	256.8	262.2
Other currencies - Buy
Financial Instruments [Line Items]
Buy (Sell)	39.6	54.4
Notional Amount	39.6	54.4
Other currencies - Sell
Financial Instruments [Line Items]
Buy (Sell)	(6.6)	(9.6)
Notional Amount	6.6	9.6
Philippine Peso
Financial Instruments [Line Items]
Buy (Sell)	41	47.3
Notional Amount	41	47.3
Euro
Financial Instruments [Line Items]
Buy (Sell)	71.1	64.6
Notional Amount	71.1	64.6
Korean Won
Financial Instruments [Line Items]
Buy (Sell)	(39.5)	(14.3)
Notional Amount	39.5	14.3
Japanese Yen
Financial Instruments [Line Items]
Buy (Sell)	35	55.2
Notional Amount	35	55.2
Czech Koruna
Financial Instruments [Line Items]
Buy (Sell)	24	16.8
Notional Amount	$ 24	$ 16.8

Income Taxes - Income Before In

Income Taxes - Income Before Income Taxes and Non-controlling Interests (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
United States	$ 1,584.3	$ 2,222.2	$ 1,979.8
Foreign	253.1	313.6	382.4
Income before income taxes	$ 1,837.4	$ 2,535.8	$ 2,362.2

Income Taxes - Provision (Benef

Income Taxes - Provision (Benefit) For Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ 276.6	$ 372.7	$ 331.9
State and local	20.4	21.6	31.8
Foreign	52	76.9	73.8
Total	349	471.2	437.5
Deferred:
Federal	(58.2)	(107.9)	(36.9)
State and local	(18.1)	13.2	25.7
Foreign	(9.9)	(26.3)	32.1
Total	(86.2)	(121)	20.9
Total provision	$ 262.8	$ 350.2	$ 458.4

Income Taxes - Reconciliation O

Income Taxes - Reconciliation Of The U.S. Federal Statutory Income Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Taxes [Line Items]
U.S. federal statutory rate (as a percent)	21%	21%	21%
Increase (decrease) resulting from:
State and local taxes, net of federal tax benefit	0.40%	0.70%	1.70%
Impact of foreign operations	1.40%	0.30%	1.70%
Foreign derived intangible income benefit	(6.90%)	(6.80%)	(7.40%)
Nondeductible goodwill	0%	0%	3.10%
Change in valuation allowance and related effects	0.20%	0.50%	(0.10%)
Share-based compensation costs	0.20%	(0.20%)	(0.50%)
U.S. federal R&D credit	(1.10%)	(0.40%)	(0.20%)
Non-deductible officer compensation	0.40%	0.30%	0.30%
Impact of audit settlement	(0.70%)	(1.80%)	0%
Other	(0.60%)	0.20%	(0.20%)
Total	14.30%	13.80%	19.40%
Foreign
Increase (decrease) resulting from:
Change in valuation allowance, benefit	$ 7.5	$ 13.7	$ 55.6
Change in valuation allowance, benefit, percent	0.40%	0.50%	2.40%
Change in valuation allowance, expense	$ 6.2	$ 15.3	$ 54.3
Change in valuation allowance, expense, percent	0.30%	0.60%	2.30%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Line Items]
Deferred tax assets, valuation allowance	$ 216.2	$ 150.3
Balance of unrecognized tax benefit	45.7	67.7	$ 136.8	$ 137.2
Unrecognized tax position, that would affect the annual effective tax rate	38.5
Unrecognized tax benefits that would impact deferred taxes	7.2
Estimate of decrease in unrecognized tax positions	3.8
Interest and penalties tax (expense) benefit	(1.6)	0.8	(1.4)
Accrued interest and penalties	3.6	2	$ 2.7
Foreign
Income Taxes [Line Items]
Deferred tax assets, valuation allowance	67.9
Net operating loss carryforwards	244.1	232.3
Tax credit carryforwards	157.6	93.5
Remaining valuation allowance	125.3
Federal
Income Taxes [Line Items]
Net operating loss carryforwards	4.4	22.2
Tax credit carryforwards	0.5	6.6
State
Income Taxes [Line Items]
Deferred tax assets, valuation allowance	90.9
Net operating loss carryforwards	245.7	273.3
Tax credit carryforwards	$ 110.2	$ 111.8

Income Taxes - Tax Effects Of T

Income Taxes - Tax Effects Of Temporary Differences (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
NOL and tax credit carryforwards	$ 308.7	$ 227.6
163 (j) interest expense carryforward	4.4	4.6
Lease liabilities	57.6	59.7
ROU asset	(52.7)	(58.9)
Tax-deductible goodwill and amortizable intangibles	(31.6)	(32.2)
Capitalization of research and development expenses	523.7	419.9
Reserves and accruals	61.7	60.2
Property, plant and equipment	(122.1)	(165.1)
Inventories	116	134.2
Undistributed earnings of foreign subsidiaries	(77.8)	(67.7)
Share-based compensation	10.4	9.7
Pension	0.2	5.8
Convertible Debt	89	108.1
Other	21	6.5
Deferred tax assets and liabilities before valuation allowance	908.5	712.4
Valuation allowance	(216.2)	(150.3)
Net deferred tax asset	$ 692.3	$ 562.1

Income Taxes - Activity for Unr

Income Taxes - Activity for Unrecognized Gross Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unrecognized Gross Tax Benefits
Balance at beginning of year	$ 67.7	$ 136.8	$ 137.2
Additions for tax benefits related to the current year	5.2	3.4	3.3
Additions for tax benefits of prior years	1.4	0.7	0.5
Reductions for tax benefits of prior years	(22.3)	(48)	(0.3)
Lapse of statute	(4)	(9.9)	(3.8)
Settlements	(2.3)	(15.3)	(0.1)
Balance at end of year	$ 45.7	$ 67.7	$ 136.8

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 7,800.6	$ 6,207	$ 4,604.4
Other comprehensive income (loss) prior to reclassifications	4.7	(1.2)
Amounts reclassified from accumulated other comprehensive loss	(21.9)	(20.8)
Other comprehensive income (loss), net of tax	(17.2)	(22)	17.4
Ending balance	8,814.5	7,800.6	6,207
Effects of cash flow hedges, tax expense (benefit)	(2)	0.2
Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(52.5)	(50.4)
Other comprehensive income (loss) prior to reclassifications	(3.4)	(2.1)
Amounts reclassified from accumulated other comprehensive loss	0	0
Other comprehensive income (loss), net of tax	(3.4)	(2.1)
Ending balance	(55.9)	(52.5)	(50.4)
Effects of Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	7.3	27.2
Other comprehensive income (loss) prior to reclassifications	8.1	0.9
Amounts reclassified from accumulated other comprehensive loss	(21.9)	(20.8)
Other comprehensive income (loss), net of tax	(13.8)	(19.9)
Ending balance	(6.5)	7.3	27.2
Total
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(45.2)	(23.2)
Ending balance	$ (62.4)	$ (45.2)	$ (23.2)

Changes in Accumulated Other _4

Changes in Accumulated Other Comprehensive Loss - Schedule of Reclassifications from Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest rate swaps terminations	$ 20.6	$ (7.2)	$ 21.7
Net income	1,574.6	2,185.6	$ 1,903.8
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income	(21.9)	(20.8)
Effects of Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cash flow hedges	(10)	(0.1)
Interest rate swaps	0	(13.8)
Interest rate swaps terminations	$ (11.9)	$ (6.9)

Supplemental Disclosures - Sche

Supplemental Disclosures - Schedule of Cash Flow, Supplemental Disclosures and Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Non-cash investing activities:
Capital expenditures in accounts payable and other long-term liabilities	$ 210.4	$ 303	$ 324.8
Operating ROU assets obtained in exchange of lease liabilities	53.8	25.8	140.1
Finance ROU assets obtained in exchange of lease liabilities	0.5	0	25.4
Amount due to seller in connection with the EFK acquisition	0	0	236.3
Cash paid for:
Interest expense	62.7	73.2	80.7
Income taxes	347.5	428.2	443.2
Operating lease payments in operating cash flows	44.2	45.7	42.5
Reconciliation of balance sheet to cash flow
Cash and cash equivalents	2,691.3	2,483	2,919
Restricted cash (included in other current assets)	2.1	2	14
Cash, cash equivalents and restricted cash in Consolidated Statements of Cash Flows	$ 2,693.4	$ 2,485	$ 2,933	$ 1,377.7

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Jan. 14, 2025 USD ($)
Silicon Carbide Junction Field-Effect Transistor | Subsequent Event
Subsequent Event [Line Items]
Cash paid for acquisition	$ 118.8

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - Valuation Allowance of Deferred Tax Assets - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 150.3	$ 152.4	$ 227.4
Charged (Credited) to Income	5.1	0.4	7
Charged to Other Accounts	68.6	0.2	(16.7)
Deductions/Write-offs	(7.8)	(2.7)	(65.3)
Balance at End of Period	$ 216.2	$ 150.3	$ 152.4