For the year ending 2025-12-31, ON had -$544.4M decrease in cash & cash equivalents over the period. $1,418.6M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 123.6 | 1,574.6 | 2,185.6 | 1,903.8 |
| Depreciation and amortization | 686 | 642.9 | 609.5 | 551.8 |
| Loss on sale or disposal of property, plant and equipment | -0.8 | -5.5 | -11.6 | 32.6 |
| Loss on divestiture of businesses | 0 | 0 | -0.7 | 67 |
| Loss on debt refinancing and prepayment | 0 | 0 | -13.3 | -7.1 |
| Amortization of debt discount and issuance costs | 11.4 | 11.1 | 11.3 | 11 |
| Share-based compensation | 144.3 | 136.1 | 121.1 | 100.8 |
| Non-cash interest on convertible notes | - | - | 0 | 0 |
| Non-cash asset impairment charges | 496 | 37.8 | 19.5 | 18.6 |
| Goodwill and intangible asset impairment charges | - | 0 | 0 | 386.8 |
| Change in deferred tax balances | 193.7 | 129.6 | 127.7 | -3.1 |
| Other | 1.6 | -10 | 4.7 | -0.1 |
| Receivables | -163.5 | 244.3 | 112.8 | 47.8 |
| Inventories | -273.4 | 129.6 | 495.2 | 235.2 |
| Other assets | -89.6 | -107 | -0.7 | 110.5 |
| Accounts payable | 136.9 | -62.5 | -91.7 | 38.2 |
| Accrued expenses and other current liabilities | -102.7 | 62.2 | -178.6 | 96.5 |
| Other long-term liabilities | -67.7 | -114.8 | 14.9 | 8.4 |
| Net cash provided by operating activities | 1,759.8 | 1,906.4 | 1,977.5 | 2,633.1 |
| Payments for acquisition of property, plant and equipment | 341.2 | 694 | 1,575.6 | 1,005 |
| Proceeds from sale of property, plant and equipment and assets held-for-sale | 32.2 | 6.2 | 4 | 59.1 |
| Deposits (made) utilized for purchases of property, plant and equipment | - | - | - | 31 |
| Deposits utilized (made) for purchases of property, plant and equipment | - | - | -36.5 | - |
| 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 |
| Payments related to acquisition of business, net of cash acquired | 124.5 | - | - | - |
| Purchase of short-term investments and available-for-sale securities | 1,050 | 1,050 | 0 | 18 |
| Proceeds from maturity of short-term investments and available-for-sale securities | 950 | 750 | 33.5 | 28.8 |
| Settlement of purchase price from previous acquisition | - | - | - | 0 |
| Purchase of license and deposit made for manufacturing facility | - | - | - | 0 |
| Other | 5 | 1.5 | - | - |
| Net cash used in investing activities | -538.5 | -1,009.8 | -1,737.9 | -705.4 |
| Proceeds for the issuance of common stock under the espp | 22.1 | 25.2 | 25.8 | 22.9 |
| Payment of tax withholding for rsus | 29.1 | 51 | 66.8 | 78.1 |
| Repurchase of common stock | 1,377.6 | 654.1 | 564.2 | 259.8 |
| Issuance and borrowings under debt agreements | 0 | 0 | 1,845 | 500 |
| Reimbursement of debt issuance and other financing costs | - | - | 4.5 | 0 |
| Payment of debt issuance and other financing costs | - | - | 12.4 | 0 |
| Repayment of borrowings under debt agreements | 375 | 0 | 1,723.4 | 530 |
| Payment on principal portion of finance lease obligations | 1.7 | 2.2 | 15.3 | 11.5 |
| Payment for purchase of bond hedges | 0 | 0 | 414 | 0 |
| Proceeds from issuance of warrants | 0 | 0 | 242.5 | 0 |
| Payments related to prior acquisition | - | - | 5.8 | 9.2 |
| Dividend to non-controlling shareholder | - | - | 2.4 | 4.3 |
| Other | -2.5 | -1.7 | - | - |
| Net cash used in financing activities | -1,763.8 | -683.8 | -686.5 | -370 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | -1.9 | -4.4 | -1.1 | -2.4 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | -544.4 | 208.4 | -448 | 1,555.3 |
| Cash and cash equivalents at beginning of period | 2,693.4 | 2,485 | 2,933 | 1,377.7 |
| Cash and cash equivalents at end of period | 2,149 | 2,693.4 | 2,485 | 2,933 |
ON SEMICONDUCTOR CORP (ON)
ON SEMICONDUCTOR CORP (ON)