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目錄
美國
證券交易委員會
華盛頓特區20549
表格 10-Q
（標記一）
☒根據1934年證券交易法第13或15(d)節的季度報告
截至季度結束日期的財務報告2024年9月27日
或者
☐根據1934年證券交易法第13或15(d)節的轉型報告書
過渡期應爲從                        至                     
（委託代理單位文件號碼）001-39317 
英飛凌半導體公司
(根據其章程規定的註冊人準確名稱)  
特拉華州 36-3840979
（國家或其他管轄區的
公司成立或組織）		 （IRS僱主
唯一識別號碼）
5701 N. Pima Road
Scottsdale, 亞利桑那州 85250
(602) 244-6600

(主要行政辦公室的地址、郵政編碼和電話號碼，包括區號)

在法案第12(b)條的規定下注冊的證券：
每一類的名稱交易標誌在其上註冊的交易所的名稱
普通股，每股面值0.01美元安大略納斯達克證券交易所 LLC

請勾選以下內容。申報人是否（1）在過去12個月內（或申報人需要報告這些報告的時間較短的期間內）已提交證券交易法規定的第13或15（d）條要求提交的所有報告；以及（2）過去90天內已被要求提交此類報告。    是  x    否  o

請在對應的複選框內表示下文所提及的公司是否已在過去12個月之內（或爲該公司要求提交該類文件的短於12個月的期間）以電子方式提交了必須根據S-T法規第405規則（本章第232.405條）提交的每一個互動數據文件。是  x    否  o

請用勾選符號表示註冊人是一個大型加速申報人、加速申報人、非加速申報人、較小的報告公司或新興成長公司。請參考《交易所法》120億.2條對「大型加速申報人」、「加速申報人」、「較小的報告公司」和「新興成長公司」的定義。
大型加速申請人
  ☒
如果是新興增長公司，請勾選是否註冊人選擇不使用執行交易所第13（a）條規定所提供的任何新的或修訂的財務會計準則的推遲過渡期。 ☐☐
非加速歸檔企業
  ☐
較小的報告公司☐
新興成長公司☐

如果新興成長公司，根據交易所法案13(a)條款，表明是否選擇不使用延長過渡期來遵守任何新的或修訂的財務會計準則。o

請通過複選標記指示註冊人是否是殼公司（如《交易所規則》120億.2定義的那樣 行動）。    是☐    否  x

截至2024年10月23日營業結束時，發行人普通股的流通股數量爲：
每種類別的證券普通股數量
普通股，每股面值0.01美元425,797,438



目錄
ON SEMICONDUCTOR CORPORATION 第10-Q表格

目錄

第一部分：財務信息

第二部分：其他信息

（請參閱目錄後的精選術語詞彙表，以了解某些縮寫術語的定義。）


目錄
英飛凌半導體公司
10-Q表格
精選縮略詞術語詞彙表*

縮略語定義術語
0%票據0%可轉換到期2027年的優先票據
0.50%票據2029年到期的0.50%可轉換高級票據
1.625%票據1.625%可轉換優先票據，到期日2023年
3.875%票據3.875%優先票據，到期日2028年
高級駕駛輔助系統（ADAS）先進駕駛輔助系統
修訂後的股權計劃Director Since
會計準則更新會計準則更新
委員會或SEC證券交易委員會
新的信貸協議信貸協議，於2023年6月22日簽訂，由借款方公司、數家貸款人、摩根大通銀行作爲行政代理，以及特定其他方共同簽署，旨在提供循環信貸設施。
EFKEast Fishkill, New York fabrication facility
ESPP■ 銷售額創紀錄，達到830億美元，同比增長24%
使擁有公司註冊證券類別10%以上股權的官員、董事或實際股東代表簽署人遞交表格3、4和5（包括修正版及有關聯合遞交協議）,符合證券交易法案第16(a)條及其下屬規則規定的要求；Securities Exchange Act of 1934, as amended
IP知識產權
美國國家稅務局（「IRS」）美國國內稅務局
技術信息技術
循環授信設施根據新信用協議創建的15億美元高級循環信貸額度
IFRS 16對2023年Q3和2022年Q3的影響如下： （i）分別減少$1,352和$1,309的SG＆A費用，其中包括對使用權利（「ROU」）資產的折舊影響，減去租金支付不包括在SG＆A費用中的影響；（ii）分別增加$1,214和$1,186的利息費用，因爲這些租賃負債在期間內必須記錄利息費用，（iii）分別有$36和$33遞延所得稅影響，根據對ROU資產和租賃負債餘額的稅務屬性計算而來。IFRS 16對2023年截至日期和2022年截至日期的影響如下：（i）分別減少了$3,885和$4,262的SG＆A費用，其中包括對ROU資產折舊的影響，減去租金支付不包括在SG＆A費用中的影響；（ii）分別增加$3,508和$3,582的利息費用，因爲這些租賃負債在期間內必須記錄利息費用，（iii）分別有$99和$180的遞延所得稅影響，基於記錄的ROU資產和租賃負債餘額的稅務屬性。使用權
每個 RSU 表示有權獲得一股公司普通股或者相同價值的股票，公司有自主選擇權。在董事會職務退休當天，RSU 將產生效力，只要任職時間至少爲兩年。該公司根據其限制性股票計劃授予了 RSU。受限制的股票單位
碳化硅Audit Committee
證券法1933年證券法, 經修訂版
美國或美利堅合衆國美利堅合衆國

在10-Q表格正文中使用但未定義的術語在本詞彙表中有定義。


目錄

第一部分: 財務信息
項目1. 基本報表（未經審計）
英飛凌半導體公司
基本報表
（以百萬計，除股份數和每股數據外）。
(未經審計)

九月 27,
2024		十二月三十一日
2023
資產
現金和現金等價物$2,470.2 $2,483.0 
短期投資300.0 — 
應收賬款，淨額1,070.6 935.4 
庫存2,242.8 2,111.8 
其他流動資產461.1 382.1 
流動資產總額6,544.7 5,912.3 
財產、廠房和設備，淨額4,383.7 4,401.5 
善意1,587.9 1,577.6 
無形資產，淨額273.1 299.3 
遞延所得稅資產725.8 600.8 
ROU 融資租賃資產41.1 42.4 
其他資產367.3 381.3 
總資產$13,923.6 $13,215.2 
負債和股東權益
應付賬款$597.5 $725.6 
應計費用和其他流動負債734.3 663.2 
融資租賃負債的流動部分0.4 0.8 
長期債務的當前部分796.4 794.0 
流動負債總額2,128.6 2,183.6 
長期債務2,547.2 2,542.6 
遞延所得稅負債42.8 38.7 
長期融資租賃負債22.4 22.4 
其他長期負債578.6 627.3 
負債總額5,319.6 5,414.6 
承付款和或有開支（注9）
安森美半導體公司股東權益：
普通股 ($)0.01 面值， 1,250,000,000 已授權的股份， 622,306,537 和 616,281,996 已發行， 425,645,765 和 426,386,426 分別表現出色）
6.2 6.2 
額外的實收資本5,321.9 5,210.9 
累計其他綜合虧損(49.1)(45.2)
累計收益7,741.0 6,548.1 
減去：庫存股，按成本計算： 196,660,772 和 189,895,570 分別是股票
(4,435.9)(3,937.4)
安森美半導體公司股東權益總額8,584.1 7,782.6 
非控股權益19.9 18.0 
股東權益總額8,604.0 7,800.6 
負債和股東權益總額$13,923.6 $13,215.2 
請參見附註的合併財務報表
4

目錄
英飛凌半導體公司
合併損益表和綜合收益表
（單位：百萬美元，除每股數據外）
(未經審計)
 季度已結束九個月已結束
 九月 27,
2024		9月29日，
2023		九月 27,
2024		9月29日，
2023
收入$1,761.9 $2,180.8 $5,359.8 $6,234.9 
收入成本962.5 1,150.1 2,922.8 3,293.3 
毛利潤799.4 1,030.7 2,437.0 2,941.6 
運營費用：
研究和開發151.0 143.4 457.5 427.1 
銷售和營銷65.4 68.2 203.1 211.6 
一般和行政95.5 110.7 275.8 273.8 
與收購相關的無形資產的攤銷13.0 12.0 38.5 39.0 
重組、資產減值和其他費用，淨額29.1 9.4 103.0 63.5 
運營費用總額354.0 343.7 1,077.9 1,015.0 
營業收入445.4 687.0 1,359.1 1,926.6 
其他收入（支出），淨額：
利息支出(15.7)(16.2)(47.0)(59.0)
利息收入28.6 25.7 83.6 66.8 
債務預付損失— — — (13.3)
業務剝離造成的損失— (0.1)— (0.7)
其他收入（支出）(3.7)1.1 (0.8)4.5 
其他收入（支出），淨額9.2 10.5 35.8 (1.7)
所得稅前收入454.6 697.5 1,394.9 1,924.9 
所得稅條款(51.9)(114.6)(200.1)(302.7)
淨收入402.7 582.9 1,194.8 1,622.2 
減去：歸屬於非控股權益的淨收益(1.0)(0.2)(1.9)(1.2)
歸屬於安森半導體公司的淨收益$401.7 $582.7 $1,192.9 $1,621.0 
普通股攤薄後每股收益的淨收益（注7）$401.7 $583.1 $1,192.9 $1,622.2 
歸屬於安森美半導體公司的普通股每股淨收益：
基本$0.94 $1.35 $2.79 $3.76 
稀釋$0.93 $1.29 $2.75 $3.61 
已發行普通股的加權平均股：
基本427.0 431.2 428.1 431.6 
稀釋431.7 450.7 433.8 449.3 
扣除稅後的綜合收益（虧損）：
淨收入$402.7 $582.9 $1,194.8 $1,622.2 
外幣折算調整3.6 (1.3)(0.7)(4.0)
現金流套期保值和其他調整的影響4.1 (6.2)(3.2)(17.7)
其他綜合收益（虧損），扣除稅款7.7 (7.5)(3.9)(21.7)
綜合收益410.4 575.4 1,190.9 1,600.5 
歸屬於非控股權益的綜合收益(1.0)(0.2)(1.9)(1.2)
歸屬於安森美半導體公司的綜合收益$409.4 $575.2 $1,189.0 $1,599.3 
請參見附註的合併財務報表
5

目錄
英飛凌半導體公司
股東權益合併報表
（以百萬爲單位，股份數據除外） 
(未經審計)

普通股股本外溢價累計其他綜合損失庫存股非控制利益
股數以票面價值累計收益股數按成本總股本
截至2024年6月28日的結餘622,068,261 $6.2 $5,283.3 $(56.8)$7,339.3 (193,850,387)$(4,232.5)$18.9 $8,358.4 
根據ESPP發行的股票102,388 — 5.9 — — — — — 5.9 
RSUs解除併發放股票獎勵135,876 — — — — — — — — 
部分結算 - 0% 註記
10 — — — — — — — — 
債券對沖部分結算 - 0% 註記
— — — — — (10)— — — 
部分解決warrants - 0% 註記
2 — — — — — — — — 
代扣稅款支付(RSUs)— — — — — (41,841)(3.0)— (3.0)
股權酬金— — 32.7 — — — — — 32.7 
回購普通股— — — — — (2,768,534)(200.4)— (200.4)
綜合收益— — — 7.7 401.7 — — 1.0 410.4 
2024年9月27日的餘額622,306,537 $6.2 $5,321.9 $(49.1)$7,741.0 (196,660,772)$(4,435.9)$19.9 $8,604.0 
2023年12月31日結餘爲616,281,996 $6.2 $5,210.9 $(45.2)$6,548.1 (189,895,570)$(3,937.4)$18.0 $7,800.6 
根據ESPP發行的股票218,379 — 13.0 — — — — — 13.0 
RSUs解除併發放股票獎勵1,777,879 — — — — — — — — 
部分結算 - 0% 註記
53 — — — — — — — — 
債券對沖部分結算 - 0% 註記
— — — — — (50)— — — 
warrants的結算 - 0% 註記
14 — — — — — — — — 
warrants的結算 - 1.625% 註記
4,028,216 — — — — — — — — 
代扣稅款支付(RSUs)— — — — — (637,071)(48.1)— (48.1)
股權酬金— — 98.0 — — — — — 98.0 
回購普通股— — — — — (6,128,081)(450.4)— (450.4)
綜合收益（損失）— — — (3.9)1,192.9 — — 1.9 1,190.9 
2024年9月27日餘額622,306,537 $6.2 $5,321.9 $(49.1)$7,741.0 (196,660,772)$(4,435.9)$19.9 $8,604.0 

請參見附註的合併財務報表


















6

目錄
英飛凌半導體公司
股東權益合併報表
（以百萬爲單位，股份數據除外） 
(未經審計)

普通股股本外溢價累計其他綜合損失庫存股非控制利益
股數以票面價值累計收益股數按成本總股本
2023年6月30日的餘額611,286,417 $6.1 $4,714.6 $(37.4)$5,402.7 (179,765,811)$(3,101.9)$19.5 $7,003.6 
RSUs解除併發放股票獎勵186,072 — — — — — — — — 
部分結算 - 0% 註記
572 — — — — — — — — 
債券對沖部分結算 - 0% 註記
— — — — — (570)(0.1)— (0.1)
部分結算認股權證 - 0% 註記
132 — — — — — — — — 
部分結算 - 1.625% 註記
416 — — — — — — — — 
債券對沖部分結算 - 1.625% 註記
— — 0.1 — — (447)(0.1)— — 
部分結算認股權證 - 1.625% 註記
159 — — — — — — — 
代扣稅款支付(RSUs)— — — — — (53,735)(5.2)— (5.2)
股權酬金— — 31.1 — — — — — 31.1 
回購普通股— — — — — (1,058,573)(100.8)— (100.8)
綜合收益（損失）— — — (7.5)582.7 — — 0.2 575.4 
2023年9月29日的餘額611,473,768 $6.1 $4,745.8 $(44.9)$5,985.4 (180,879,136)$(3,208.1)$19.7 $7,504.0 
2022年12月31日結存餘額608,367,713 $6.1 $4,670.9 $(23.2)$4,364.4 (176,431,298)$(2,829.7)$18.5 $6,207.0 
根據ESPP發行的股票220,714 — 13.2 — — — — — 13.2 
RSUs解除併發放股票獎勵2,262,751 — — — — — — — — 
認股權證和債券對沖，淨額 - 0.50% 註記
— — (171.5)— — — — — (171.5)
認股權證和債券避險交易的稅務影響，淨利潤— — 92.3 — — — — — 92.3 
部分結算 - 0% 註記
585 — — — — — — — — 
債券對沖部分結算 -0% 註記
— — — — — (580)(0.1)— (0.1)
部分結算warrants - 0% 註記
132 — — — — — — — — 
部分結算 -1.625% 註記
621,714 — — — — — — — — 
債券對沖部分結算 - 1.625% 註記
— — 50.5 — — (621,740)(50.5)— — 
部分結算warrants - 1.625% 註記
159 — — — — — — — — 
代扣稅款支付(RSUs)— — — — — (749,058)(62.6)— (62.6)
股權酬金— — 90.4 — — — — — 90.4 
回購普通股— — — — — (3,076,460)(265.2)— (265.2)
綜合收益（損失）— — — (21.7)1,621.0 — — 1.2 1,600.5 
2023年9月29日的餘額611,473,768 $6.1 $4,745.8 $(44.9)$5,985.4 (180,879,136)$(3,208.1)$19.7 $7,504.0 

請參閱併表基本報表的附註

7

目錄

on semiconductor corporation
綜合現金流量表
(以百萬為單位)
（未經審計）

 九個月結束了
 9月27日,
2024		九月29日，
2023
經營活動現金流量：
凈利潤$1,194.8 $1,622.2 
調整淨利潤以達經營活動所提供之淨現金流量：
折舊與攤提476.3 449.2 
固定資產出售或處置損失5.1 7.3 
出售業務損失— 0.7 
債務預付虧損— 13.3 
債務折價和發行成本攤銷9.2 8.7 
基於股份的報酬98.0 90.4 
非現金資產減損費用15.7 12.7 
遞延稅款餘額變動(122.1)(109.0)
其他7.0 1.5 
資產及負債的變動：
應收帳款(145.5)(137.4)
存貨(130.2)(468.3)
其他資產(17.4)13.6 
應付賬款(42.5)(27.6)
應計費用及其他流動負債38.3 (183.2)
其他長期負債(60.0)72.2 
經營活動產生的淨現金流量1,326.7 1,366.3 
投資活動之現金流量:
購入不動產、廠房及設備(549.1)(1,185.1)
來自固定資產與設備出售的收益0.6 2.8 
存款用於購買物業、廠房及設備12.4 32.4 
購買短期投資(750.0)— 
短期投資和可供出售證券出售或到期所得款項450.0 33.5 
購買業務，除現金收購款項外(20.5)— 
與企業併購相關的付款— (236.3)
其他(1.5)— 
投資活動中使用的淨現金(858.1)(1,352.7)
來自籌資活動的現金流量:
根據員工股票購買計劃發行普通股的收益19.6 19.9 
支付受限股單位的稅款代扣(48.3)(62.4)
回購普通股(450.0)(264.0)
根據債務協議的發行和借款— 1,845.0 
償還債務發行和其他融資成本— 4.5 
支付債務發行和其他融資成本— (11.7)
償還根據債務協議的借款— (1,603.8)
支付購買債券對沖— (414.0)
來自發行warrants的收益— 242.5 
支付融資租賃義務(1.8)(10.3)
籌集資金的淨現金流量(480.5)(254.3)
匯率變動對現金、現金等價物及限制性現金的影響(0.7)(1.5)
813,840(12.6)(242.2)
現金、現金等價物和受限制的現金期初（附註5）2,485.0 2,933.0 
期末現金、現金等價物和受限現金（附註5）$2,472.4 $2,690.8 

請參見附註的合併財務報表
8

目錄
英飛凌半導體公司
合併財務報表附註
(未經審計)

注1：背景和報告基礎

愛文思控股公司（「onsemi」，「我們」，「我們」，「我們」或「公司」）及其完全和部分擁有的子公司在愛文思控股旗下運營。此款超便攜式投影儀使用了最新的 Android TV 界面，而且遙控器還內置了 Google AssistantTM 功能，用戶可以非常方便地使用它。 品牌。公司分爲經營和可報告部門：動力解決方案組（"PSG"），模擬與混合信號組（"AMG"）和智能感知組（"ISG"）。 三 2024年第一季度，愛文思控股公司重新組織了某些經營和報告部門內的現有部門，並將高級解決方案組（"ASG"）報告部門更名爲AMG。有關部門重新組織的詳細信息，請參見注釋2：「部門和營業收入」。

公司的財政日曆年度始於1月1日，至12月31日結束，每個財政季度包含一個爲期13周的會計期間。四個季度分別截止於2024年9月27日和2023年9月29日。 91 每個有幾天。截至2024年9月27日和2023年9月29日的九個月分別包含 271我們進行衍生品交易以管理我們的利率風險和代理抵押率敞口。我們與衍生對手簽訂的合同規定根據我們的衍生品的公允價值進行抵押品。通過這個按金流程，我們或我們的交易相對方可能被要求提供現金或證券作爲抵押品。抵押品要求因交易對手而異，並隨着合同的公允價值、名義金額和剩餘期限的變化而變化。某些合同與回購協議和同一交易對手的其他合同提供交叉抵押和違約條款。272 ，分別包含幾天。

截至2024年9月27日的第四季度和九個月的附註未經審計的基本公司財務報表是根據美國通用會計準則（「GAAP」）編制的，用於中期財務報告以及SEC的中期報告規則和法規。因此，未經審計的財務報表 不要 包括美國通用會計準則要求的所有審計財務報表所需的信息和腳註。截至2023年12月31日的資產負債表來源於公司的審計財務報表，但不包括美國通用會計準則要求的年度財務報表的所有披露。經管理層認爲，中期信息包含了所有調整，包括爲了對中期期間的結果作出公正報表而必要的一般性重大調整。本中期財務信息相關的腳註也是未經審計的。應該與公司在2023年12月31日年度財務報告中包括的截至2023年12月31日的合併財務報表及相關附註一起閱讀，該報告已於2024年2月5日向SEC提交（「2023年10-K表」）

估算值的使用

根據GAAP要求，編制基本報表需要管理層進行估計和假設，這些估計和假設會影響基本報表日期的資產和負債金額以及報告期間的營業收入和費用金額。管理層會持續評估這些估計和判斷，並根據經驗、當前和預期未來條件、第三方評估以及管理層認爲在情況下合理的各種其他假設作出估計。在下列情況下，管理層與之使用了重要的估計：(i) 計算未來客戶激勵支付和應計和退回金額；（ii）與存貨相關的價值和荒廢計提；（iii）計量遞延所得稅資產計提和評估不確定稅務觀點的估計；（iv）長期資產和商譽減值測試；以及（v）業務組合中使用的假設。實際結果可能與合併財務報表中使用的估計和假設有所不同。



9
目錄
英飛凌半導體公司
合併財務報表附註-續
(未經審計)


注意2：部分和營業收入

板塊
公司分爲以下報告段: 三 包括PSG、AMG和ISG的經營和可報告部門。這些部門代表管理層對業務的看法，毛利潤用於評估其績效、主要計劃的進展以及資源的分配。

PSG以前包括愛文思控股和特斯拉-集成電路、保護和信號部門（「IPS」）。在2024年第一季度，管理層對其進行重新組織，劃分爲汽車動力部門、工業動力部門和多市場動力部門（「MPD」）。此外，IPS進行了拆分，部分留在MPD，部分則移至AMG內的新特斯拉-集成電路部門。管理層在重組前後對這些部門（即報告單元）進行了商譽減值分析，並未發現減值。

經營和報告部門的營業收入和毛利潤如下（以百萬美元計）：
PSG(1)
AMG(1)
ISG總費用
截至2024年9月27日季度結束：
來自外部客戶的營業收入$829.4 $653.7 $278.8 $1,761.9 
毛利潤$344.9 $325.3 $129.2 $799.4 
截至2023年9月29日季度結束：
來自外部客戶的營業收入$1,076.5 $775.7 $328.6 $2,180.8 
毛利潤$513.5 $361.1 $156.1 $1,030.7 
截至2024年9月27日止九個月：
來自外部客戶的營業收入$2,538.8 $1,998.5 $822.5 $5,359.8 
毛利潤$1,059.1 $986.0 $391.9 $2,437.0 
截至2023年9月29日止九個月：
來自外部客戶的營業收入$2,914.8 $2,312.3 $1,007.8 $6,234.9 
毛利潤$1,377.9 $1,075.3 $488.4 $2,941.6 

(1)2024年第一季度期間，公司重新組織了某些報告單位和其部門報告結構。由於在PSG和AMG內部重新組織部門，先前期間的金額已重新分類以符合當前期間的呈現方式。

The Company had one customer, a distributor, whose revenue accounted for approximately 12%和11營業收入總額分別爲截至2024年9月27日和2023年9月29日的季度，大約 11%和10營業收入總額分別爲2024年9月27日和2023年9月29日結束的九個月，一個分銷商帳戶約爲 10截至2024年9月27日，公司應收賬款餘額的約 10年末截至2023年12月31日，沒有一個單一客戶賬款集中量爲營業收入的

10
目錄
英飛凌半導體公司
合併財務報表附註-續
(未經審計)


營業收入按銷售國家和銷售渠道分解到地理位置，並根據各自國家和銷售渠道的銷售賬單列示如下（單位：百萬美元）：
2024年9月27日季度結束
PSGAMGISG總費用
地理位置：
香港$215.6 $186.6 $64.7 $466.9 
新加坡276.3 146.0 27.2 449.5 
英國178.8 117.3 99.7 395.8 
美國89.5 147.3 45.1 281.9 
其他69.2 56.5 42.1 167.8 
總費用$829.4 $653.7 $278.8 $1,761.9 
銷售渠道:
經銷商。$539.3 $370.3 $86.5 $996.1 
直接客戶290.1 283.4 192.3 765.8 
總費用$829.4 $653.7 $278.8 $1,761.9 
2024年9月27日止九個月
PSGAMGISG總費用
地理位置：
香港$649.2 $498.5 $178.1 $1,325.8 
新加坡689.7 493.0 90.3 1,273.0 
英國569.1 373.8 310.7 1,253.6 
美國442.5 452.4 130.8 1,025.7 
其他188.3 180.8 112.6 481.7 
總費用$2,538.8 $1,998.5 $822.5 $5,359.8 
銷售渠道:
經銷商。$1,504.9 $1,062.3 $289.9 $2,857.1 
直接客戶1,033.9 936.2 532.6 2,502.7 
總費用$2,538.8 $1,998.5 $822.5 $5,359.8 

11
目錄
英飛凌半導體公司
合併財務報表附註-續
(未經審計)


2023年9月29日季度結束
PSG(1)
AMG(1)
ISG總費用
地理位置：
香港$311.8 $197.8 $72.3 $581.9 
新加坡304.0 153.6 49.2 506.8 
英國211.8 157.1 95.3 464.2 
美國182.8 178.3 63.4 424.5 
其他66.1 88.9 48.4 203.4 
總費用$1,076.5 $775.7 $328.6 $2,180.8 
銷售渠道:
經銷商。$605.5 $394.4 $138.0 $1,137.9 
直接客戶471.0 381.3 190.6 1,042.9 
總費用$1,076.5 $775.7 $328.6 $2,180.8 
2023年9月29日截止的九個月
PSG(1)
AMG(1)
ISG總費用
地理位置：
香港$836.2 $570.3 $196.0 $1,602.5 
新加坡851.7 468.0 157.1 1,476.8 
英國571.4 487.3 268.1 1,326.8 
美國451.6 501.6 241.3 1,194.5 
其他203.9 285.1 145.3 634.3 
總費用$2,914.8 $2,312.3 $1,007.8 $6,234.9 
銷售渠道:
經銷商。$1,710.3 $1,116.7 $477.8 $3,304.8 
直接客戶1,204.5 1,195.6 530.0 2,930.1 
總費用$2,914.8 $2,312.3 $1,007.8 $6,234.9 

(1)2024年第一季度期間，公司重新組織了某些報告單位和其部門報告結構。由於在PSG和AMG內部重新組織部門，先前期間的金額已重新分類以符合當前期間的呈現方式。

該公司在多個地理位置開展業務。對外部客戶的銷售與產品製造地或最終客戶的所在地幾乎沒有相關性。因此，根據地理位置來展示營業利潤是沒有意義的。

公司沒有將資產明確分配給其經營部門，管理層也不使用獨立資產信息評估經營部門。用於製造業的綜合資產通常是共享的，沒有專門歸屬於經營和可報告部門。在需要評估資產組的賬面價值是否可收回的情況下，會根據事實和情況運用判斷來判斷資產組的賬面價值。

12
目錄
英飛凌半導體公司
合併財務報表附註-續
(未經審計)


按地理位置彙總的房地產、廠房和設備淨值如下（以百萬美元爲單位）：
截至
2024年9月27日2023 年 12 月 31 日
大韓民國$1,433.6 $1,360.8 
美國1,407.2 1,456.5 
捷克共和國587.7 559.7 
中國237.6 252.2 
菲律賓226.0 252.9 
馬來西亞187.9 199.3 
越南153.6 164.3 
其他150.1 155.8 
總計$4,383.7 $4,401.5 

營業收入
公司的營業收入主要來自產品銷售，而製造業-半導體服務和產品開發協議的收入佔比較少。截至2024年9月27日和2023年9月29日的季度，來自產品銷售的收入佔總收入的百分比約爲 99，每個時期來自制造業-半導體服務和產品開發協議的收入佔總收入的百分比約爲 1。截至2024年9月27日和2023年9月29日的九個月，來自產品銷售的收入佔總收入的百分比約爲 98，每個時期來自制造業-半導體服務和產品開發協議的收入佔總收入的百分比約爲 2。

按最終市場和產品技術細分的營業收入如下（以百萬美元計）：
季度結束九個月結束
2024年9月27日2023年9月29日2024年9月27日2023年9月29日
終端市場:
汽車$951.2 $1,157.8 $2,875.3 $3,205.6 
製造業439.9 615.8 1,384.0 1,781.3 
自由現金流370.8 407.2 1,100.5 1,248.0 
總費用$1,761.9 $2,180.8 $5,359.8 $6,234.9 
* 其他主要包括計算、消費、網絡和通信的終端市場。
產品技術：
智能動力$914.5 $1,154.8 $2,765.9 $3,146.3 
智能傳感344.0 406.3 1,017.7 1,234.8 
其他503.4 619.7 1,576.2 1,853.8 
總費用$1,761.9 $2,180.8 $5,359.8 $6,234.9 

剩餘績效承諾
公司訂單中的一部分是不可取消的確定性承諾，包括與不到一年的特定訂單或合同。公司的某些客戶合同是多年協議，包括已確定金額（"長期供應協議"或"LTSAs"）。截至2024年9月27日的剩餘履約責任約爲$13.7十億美元（不包括持續時間爲 一年 公司預計在未來 31％ 12 個月內，根據這些合同的產品發貨來確認約％的營業收入。總營收估計基於協商合同價格和需求量，並可能受到風險和不確定性的影響，包括製造或供應鏈限制、客戶協議變更和監管變化等其他因素。產品的時間、價格或數量
13
目錄
英飛凌半導體公司
合併財務報表附註-續
(未經審計)


在長期服務協議保障下交付的產品可能會在雙方協議的情況下進行修改，未來期間剩餘履約義務實際認定的營業收入可能會大幅波動，超出當前估計。

某些長期服務協議(LTSAs)包括來自客戶的不可取消的產能付款，通常在協議簽訂後的幾天內到期。這些付款用於預訂生產，或者是爲相同目的的預付款，在履行履約義務之前不會被確認爲收入。截至2023年6月30日和2022年7月1日的季度和六個月，公司確認的收入爲$ 30 協議的天數。這些付款用於保留生產可用性或是爲同一目的的預付款，直到履行績效義務後才予以確認爲營業收入。在滿足績效義務之前收到的付款將被記錄爲合同負債。公司已履行某些績效義務，並分別於2024年9月27日及2023年9月29日的季度內確認了3百萬美元的營業收入。42.01百萬美元和30.1百萬和2百萬美元，分別指2024年9月27日和2023年9月29日季度結束時尚未清償的合同負債。77.41百萬美元和61.7百萬和2百萬美元，分別指2024年9月27日和2023年9月29日九個月期結束時尚未清償的合同負債。

合同餘額
合同資產和合同負債如下（單位：百萬美元）：
截至
2024年9月27日2023年12月31日
合同資產包括在內:
其他資產$150.1 $83.1 
其他— 12.0 
總費用$150.1 $95.1 
合同負債包括在內:
其他流動負債$111.4 $87.6 
其他長期負債161.7 216.6 
總費用$273.1 $304.2 

註釋3：最近的會計準則和其他發展

等待領養

分部報告（主題280）：報告分部披露的改進（"ASU 2023-07"）

2023年11月，FASB發佈了ASU 2023-07以增強有關重要板塊費用的披露。該ASU中的修訂要求上市實體按年度和中期披露重要板塊費用和其他板塊項目，並在中期提供全部關於報告性板塊利潤或損失和資產的披露，這些披露目前每年均要求提供。該ASU中的修訂還澄清了實體可以在哪些情況下披露利潤或損失的多個板塊度量，併爲只有一個可報告板塊的實體提供新的板塊披露要求。公司將從2024年12月31日結束的財政年度開始，並在2025年12月31日結束的財政年度內的中期採用ASU 2023-07，並將對所呈報期間進行全面回顧。管理層已基本完成了對這一標準的評估，這僅影響披露，不認爲該準則的採納會對公司的經營業績或財務狀況產生重大影響。

收入稅（話題740）：收入稅披露的改進（"ASU 2023-09"）

2023年12月，FASB發佈了ASU 2023-09，以加強關於所得稅披露的規定。該ASU中的修訂要求企業以表格格式披露，使用百分比和報告貨幣金額，報告稅率調解中的特定類別，並提供用於調解項目的附加信息，這些項目達到數量門檻。此ASU中的修訂還要求報告支付的稅金（扣除退款）按聯邦、州和外國稅分類，對於相關金額超過數量門檻的特定司法管轄區進一步細分。對於上市業務實體，ASU 2023-09的規定將於2024年12月15日後開始的財年生效。允許提前採納。管理層目前正在評估這一新標準下的要求。

14
目錄
關於半導體公司
合併財務報表附註——續
（未經審計）


證監會氣候披露

2024年3月，SEC發佈了最終規定，要求註冊者在年度報告和註冊聲明中包含全面的與氣候相關的披露。根據採納的規定，最終規定要求大型加速歸檔者在2025年開始的財政年度首次進行氣候相關的披露。然而，在2024年4月，SEC發佈了一項自願停止新規定生效的訂單，等待對其有效性的某些法律挑戰的司法審查完成。管理層目前正在評估這些規則的採納情況，同時監測相關訴訟的進展以及SEC的停止執行情況。

注4：重組、資產減值及其他費用淨額

重組、資產減值及其他費用淨額的詳細信息如下（單位：百萬美元）
重組資產減值
其他
費用 (2)
總費用
2024年9月27日季度結束
2024年業務重組$17.6 $— $10.7 $28.3 
其他(0.9)— 1.7 0.8 
總費用$16.7 $— $12.4 $29.1 
重組
資產減值(1)
其他費用總費用
2024年9月27日結束的九個月
2024年業務重組$70.1 $15.7 $13.8 $99.6 
其他0.3 — 3.1 3.4 
總費用$70.4 $15.7 $16.9 $103.0 

(1) 主要與房地產、廠房和設備相關的資產減值損失。
(2) 其他費用主要與設備移動成本和某些租賃資產的加速攤銷有關。

重組餘額的變動摘要如下（單位：百萬美元）：
截至截至
2023年12月31日費用使用2024年9月27日
應計重組費用$17.9 $70.4 $(17.8)$70.5 

2024年業務重組

2024年第二季度，爲了進一步與"Fab Right"製造業-半導體策略保持一致並鞏固其全球貨幣地位，公司宣佈了一項重組計劃，影響了約 1,300 名員工。大約 1,100 名員工收到了終止僱傭通知，還有約 200 名其他員工被調動至其他onsemi場所。公司將繼續評估員工崗位和地點，以尋求潛在的運營改進和效率。

關於在第二季度宣佈的行動，公司預計將發生解僱費用、相關福利支出和其他零星費用，總計約$72607241股普通股淨收益約合$1,138,745,758.75，其中約$70百萬美元已在截至2024年9月27日爲止的九個月中確認。已通知其解僱的員工中的某些員工需要在最低保留期限後繼續提供未來服務以獲得解僱福利，並將在各自的服務期間按比例確認相關費用，其中預計大部分將在2024年餘下的時間內確認。

到目前爲止在2024年宣佈的行動中，公司支付了約$的累計費用。7約xx百萬份。 500 終止僱員並截至2024年9月27日擁有大約$的累計費用。63剩餘需要重新調整的員工預計將被遷移或解僱，並預計在接下來的12個月內支付幾乎所有適用的賠償金和相關福利。
15
目錄
英飛凌半導體公司
合併財務報表附註-續
(未經審計)



注意事項5：資產負債表信息和其他補充披露

商譽

商譽每年在第四季度的第一天或更頻繁地進行減值測試，如果事件或情況變化（每個稱爲"觸發事件"）更可能降低報告單位的公允價值至低於其賬面價值。

由於2024年第一季度討論中提到的分部重組，管理層對分部進行了商譽減值分析，發現在重組前後未出現減值。與重組相關，公司改變了其報告單位結構，這導致了$的重新分配。25.9萬的商譽，根據被轉移業務的相對公允價值，從PSG前瞻性地重新分配給AMG。

以下表格總結了按經營和可報告部門劃分的商譽金額（單位：百萬美元）： 
截至
 2024年9月27日2023年12月31日
商譽累計減值損失重新分配賬面價值商譽累計減值損失賬面價值
經營和報告部門:
PSG$708.0 $(31.9)$(25.9)$650.2 $708.0 $(31.9)$676.1 
AMG1,536.4 (748.9)25.9 813.4 1,536.4 (748.9)787.5 
ISG124.3 — — 124.3 114.0 — 114.0 
總費用$2,368.7 $(780.8)$— $1,587.9 $2,358.4 $(780.8)$1,577.6 

從2023年12月31日到2024年9月27日，商譽餘額變化如下（單位：百萬美元）：

截至2023年12月31日的淨餘額$1,577.6 
由於業務收購而導致的增加10.3 
截至2024年9月27日的淨餘額$1,587.9 

2024年9月27日結束的季度內，ISG業務領域發生了一筆無形資產收購。

存貨

合併資產負債表中包含的存貨明細如下（單位：百萬）：
截至
2024年9月27日2023年12月31日
庫存：
原材料$400.8 $469.3 
在製品1,383.6 1,221.1 
成品458.4 421.4 
總費用$2,242.8 $2,111.8 

16
目錄
英飛凌半導體公司
合併財務報表附註-續
(未經審計)


定義的利益計劃

公司在其財務報表中承認所有過度資金計劃的資產總額，以及所有不足計劃的負債總額。截至2024年9月27日，過度資金計劃的淨資產總額爲 $17.1百萬。赤字計提養老金責任總額爲$69.0百萬美元，其中當前部分爲$1.4 百萬美元，被分類爲應計費用和其他流動負債。截至2023年12月31日，所有計劃的淨資金狀況爲負債$50.8 截至2022年12月31日，所有計劃的淨資金狀況爲責任負債，金額爲$ million，其中當前部分爲$ million，被分類爲應計費用和其他流動負債。1.4 截至2022年12月31日，所有計劃的淨資金狀況爲責任負債，金額爲$ million，其中當前部分爲$ million，被分類爲應計費用和其他流動負債。

淨逐期養老金費用的組成如下（單位：百萬美元）：
季度已結束九個月已結束
2024年9月27日2023年9月29日2024年9月27日2023年9月29日
服務成本$1.2 $1.2 $3.7 $3.6 
利息成本1.4 1.6 4.2 4.8 
計劃資產的預期回報率(1.2)(1.2)(3.6)(3.6)
總計$1.4 $1.6 $4.3 $4.8 

租約

經營租賃安排主要包括房地產和設備協議。 租賃費用的元件如下（以百萬計）：
Quarters Ended九個月結束了
。股息除息日為2023年9月29日。股息除息日為2023年9月29日
營業租賃$13.5 $11.9 $41.1 $36.2 
變量租賃1.3 1.2 4.0 4.0 
短期租賃2.4 0.3 3.2 1.5 
總計$17.2 $13.4 $48.3 $41.7 

賃賦租資產及賃賦租負債在綜合賬戶賬表中的認知如下（單位：百萬）：
截至日期
。股息除息日為2023年12月31日
包含在營運租賃負債中：
應計費用及其他流動負債$28.9 $33.0 
其他長期負債250.7 231.0 
總計$279.6 $264.0 
包含在營運租賃資產中：
其他資產$257.6 $247.3 

截至2024年9月27日，加權平均剩餘租賃期限為 10.4 年和 17.3 年，而加權平均折扣率分別為 5.22024年6月30日和2023年12月31日的時間點，公司從Thrivel Earlier Detection Corporation（“Thrive”），Ashion Analytics，LLC（“Ashion”）和OmicEra的收購中記錄的關於監管和產品開發里程碑的待定支付負債的公允價值總和為2.779億和2.887億美元。公司使用概率加權情境折現現金流模型評估預期的待定支付負債和相應的與監管和產品開發里程碑相關的負債的公允價值，該方法與預期待定支付負債的初始計量一致。每個潛在情境應用成功概率，然後通過現值因子計算折扣，得出相應的現值。時間的流逝以及草擬的里程碑實現時間，現值因子，實現度（如適用）和成功概率的變化可能導致公允價值測量的調整。與監管和產品開發里程碑相關的待定支付負債的公允價值是以2024年6月30日和2023年12月31日的加權平均成功概率和現值因子計算的，成功概率分別為%和%，現值因子分別為%和%。付款範圍的預測財政年度範圍為2025年至2031年。所使用的不可觀察的輸入值按待定支付負債的相對公允價值加權。 5.7%，分別適用於營運租賃和融資租賃。

17
目錄
on semiconductor corporation
繼續備註合併基本報表
（未經審計）


現金流量補充資訊

下列是部分現金和非現金活動金額（以百萬計）：
九個月結束了
。股息除息日為2023年9月29日
非現金投資活動：
應付帳款和其他長期負債中的資本支出$200.7 $426.3 
營運租賃資產以換取租賃負債46.8 15.8 
支付現金：
利息費用$53.5 $65.2 
所得稅294.1 327.4 
經營租賃支付屬於經營活動現金流量39.5 34.1 

以下表格顯示了在百萬美元的範圍內，綜合資產負債表與綜合現金流量表標題的調節。
截至日期
。股息除息日為2023年12月31日2023年9月29日2022年12月31日
綜合資產負債表：
現金及現金等價物$2,470.2 $2,483.0 $2,679.2 $2,919.0 
限制性現金（包含在其他流動資產中）2.2 2.0 11.6 14.0 
結合現金流量表中的現金、現金等價物和限制性現金$2,472.4 $2,485.0 $2,690.8 $2,933.0 

附註6：長期負債

長期負債包括以下項目（以百萬為單位，並附年化利率期貨）：
截至日期
。股息除息日為2023年12月31日
2028年到期的循環信貸，每月支付利息 6.602024年6月30日和2023年12月31日的時間點，公司從Thrivel Earlier Detection Corporation（“Thrive”），Ashion Analytics，LLC（“Ashion”）和OmicEra的收購中記錄的關於監管和產品開發里程碑的待定支付負債的公允價值總和為2.779億和2.887億美元。公司使用概率加權情境折現現金流模型評估預期的待定支付負債和相應的與監管和產品開發里程碑相關的負債的公允價值，該方法與預期待定支付負債的初始計量一致。每個潛在情境應用成功概率，然後通過現值因子計算折扣，得出相應的現值。時間的流逝以及草擬的里程碑實現時間，現值因子，實現度（如適用）和成功概率的變化可能導致公允價值測量的調整。與監管和產品開發里程碑相關的待定支付負債的公允價值是以2024年6月30日和2023年12月31日的加權平均成功概率和現值因子計算的，成功概率分別為%和%，現值因子分別為%和%。付款範圍的預測財政年度範圍為2025年至2031年。所使用的不可觀察的輸入值按待定支付負債的相對公允價值加權。 6.71%
$375.0 $375.0 
0.502029年到期的百分之□票券 (1)
1,500.0 1,500.0 
0% 2027年票據
804.9 804.9 
3.8752028年到期的百分之□票券 (2)
700.0 700.0 
長期負債總額，包括即期到期債務3,379.9 3,379.9 
減：債務折扣 (3)
(3.5)(4.2)
減：債務發行成本 (4)
(32.8)(39.1)
凈長期負債，包括即期到期債務3,343.6 3,336.6 
減：目前到期債務(796.4)(794.0)
凈長期負債$2,547.2 $2,542.6 

(1)每年3月1日和9月1日支付利息。 0.50每年%利率。
(2)每年3月1日和9月1日支付利息。 3.875每年%利率。
(3)截至2024年9月27日和2023年12月31日，$%票據的折扣債務。3.5 百萬美元和4.2 六個月截至2023年6月30日。 3.875截至2024年9月27日和2023年12月31日，$%票據的折扣債務。
(4)發行債務的成本$23.1 百萬美元和26.8在截至2023年6月30日的三個月內，累計虧損為620萬美元。 0.50%票據，＄8.5 百萬美元和10.9 六個月截至2023年6月30日。 0%票據和＄1.2百萬和$1.4 六個月截至2023年6月30日。 3.875註：%分別於2024年9月27日和2023年12月31日。
18
目錄
on semiconductor corporation
附註至合併基本報表 - 繼續
（未經審計）



預期的長期債務到期（包括當前部分-詳見下面部分關於％票據）截至2024年9月27日如下（百萬美元）： 0%票據）截至2024年9月27日如下（百萬美元）：
周期預期到期日
2024年剩餘部分$804.9 
2025— 
2026— 
2027— 
20281,075.0 
此後1,500.0 
總計$3,379.9 

該公司截至2024年9月27日遵守其所有債務協議中的條款。 並預期未來至少12個月仍將遵守所有條款。.

02025%債券所得款項

根據控制項管理的契約 0%票據截至2024年9月27日，剩餘的$796.4百萬美元未偿本金金額的%票據經摊銷發行成本後，自公司普通股上次報告銷售價格至少有 0連續交易日（截至2024年9月27日）的最後出售價格大於或等於 20 交易日期間的連續交易日的條件，給予持有人權利在截至2024年12月31日的日歷季度內（僅限該日歷季度）的每個適用交易日交換任何部分的 30 %轉換價格的$68.86 (130期票據（以每$1,000本金金額或其整數倍的最小面額）在2024年12月31日結束的日歷季度內進行轉換。 0每個該applicable交易日。此條件賦予持有人權利，於2024年12月31日結束的日歷季度內（僅限該日歷季度）達到或超過$

註7: 每股收益和權益

每股盈利

計算基本和稀釋每股盈利的普通股每股凈利潤如下（以百萬美元計，每股數據除外）：
Quarters Ended九個月結束了
 。股息除息日為2023年9月29日。股息除息日為2023年9月29日
Net income for basic earnings per share of common stock$401.7 $582.7 $1,192.9 $1,621.0 
Add: Interest on 1.6252025%債券所得款項
— 0.4 — 1.2 
每股稀釋盈餘的凈利潤$401.7 $583.1 $1,192.9 $1,622.2 
基本普通股流通加權平均股份427.0 431.2 428.1 431.6 
share-based awards的發放會對稀釋效益造成影響0.6 1.3 0.6 1.2 
可轉換票據和認股權證的稀釋效應4.1 18.2 5.1 16.5 
普通股普通股股票的稀釋加權平均股份431.7 450.7 433.8 449.3 
ON Semiconductor Corporation應歸屬於每股普通股的凈利潤
基礎$0.94 $1.35 $2.79 $3.76 
稀釋$0.93 $1.29 $2.75 $3.61 

19
目錄
on semiconductor corporation
繼續 集團財務報表註記
（未經審計）


每股普通股的基本收益按照基本盈利除以期間內流通普通股加權平均數計算。為了計算流通普通股的稀釋加權平均數，已應用庫藏股法計算與員工股票(RSUs)有關的假定股份發行帶來的增量股份數量。被排除的反稀釋股票報酬不具推升效應的數量是 0.2 百萬和 零級 分別是截至2024年9月27日及2023年9月29日的季度，以及 0.6 百萬和 0.1 分別是截至2024年9月27日及2023年9月29日的九個月，

與債務相關的立竿見影的影響已使用if-converted方法計算，截至2024年9月27日和2023年9月29日的季度和九個月。 0.50%票據和%票據可以用現金還款至票面價值及超出票面價值部分用現金或普通股票還款。 0%票據和%票據可以用現金還款至票面價值及超出票面價值部分用現金或普通股票還款。 0.50%票據和%票據可以用現金還款至票面價值及超出票面價值部分用現金或普通股票還款。 0%票據和%票據可以用現金還款至票面價值及超出票面價值部分用現金或普通股票還款。 0.50在股價高於$時，可望抵銷%票據和%票據的稀釋效應。 0在股價高於$時，可望抵銷%票據和%票據的稀釋效應。103.87 15.152.97 每股分別為。

與發行期權證同時發行的稀釋影響 0.50百分比筆記和 0行使價為 $ 的百分比債券156.78 和 $74.34(如適用) 已分別納入計算稀釋權重平均普通股的計算中。

認股權證結算

在發行債券時 1.625％債券發行期間，公司向銀行對手方出售了認股權，持有人可以選擇以每股$的價格從公司購買相等數量的公司普通股。30.70 銀行對手方在2024年1月16日開始執行了百萬認股權，並由公司以當日行使價格的平均股價淨股的方式發行了百萬股普通股，沒有交換現金。 6.7百萬認股權在2024年第一季度行使，公司以當日行使價格的平均股價淨股的方式發行了百萬股普通股，沒有交換現金。 4.0百萬股公司普通股根據當日行使日的平均股價淨股，沒有交換現金。所有與％債券有關的未解行使的認股權在2024年3月29日結束的季度內全部解決。 1.625％債券的所有未解的認股權在截至2024年3月29日的季度內全部解決。

股權

股份回購計劃

根據2023年2月6日宣布的股份回購計劃（"股份回購計劃"），公司可在2025年12月31日前回購多達$3.0（不包括費用、佣金和其他費用）公司普通股共計10億美元。 股份回購計劃在截至2024年9月27日和2023年9月29日的三個季度和九個月內的活動如下： 分別在截至2024年9月27日和2023年9月29日的三個季度和九個月內， 如下所示（以百萬為單位，每股除外 數據）:
Quarters Ended九個月結束了
 。股息除息日為2023年9月29日。股息除息日為2023年9月29日
已回購股份數量 (1)
2.8 1.1 6.1 3.1 
總購買價格$200.0 $100.0 $450.0 $264.0 
費用、佣金和消費稅0.4 0.8 0.4 1.2 
總計$200.4 $100.8 $450.4 $265.2 
每股加權平均購買價格 (2)
$72.24 $94.48 $73.43 $85.84 

(1) 無 截至2024年9月27日，這些股份中有些已經重新發行或注銷，但可能稍後會再發行。
(2) 不包括費用、佣金或其他開支。

截至2024年9月27日，股份回購計畫授權金額剩餘約$2.0 十億美金。

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目錄
on semiconductor corporation
繼續備註合併基本報表
（未經審計）


受限股票單位稅款提領的股票

截至2024年9月27日止的季度和九個月，員工代扣稅款匯款總額為$3.0百萬和$48.1百萬，公司代扣了 微不足道 一個微不足道的股份和約 0.6 百萬股普通股，分別是尚未發行的RSUs。截至2023年9月29日止的季度和九個月，員工代扣稅款匯款總額為$5.2百萬和$62.6 百萬，公司代扣了約 0.1百萬股和 0.8 分別是依據已發生的 RSU 內含的普通股達成的要求，釋出了 193.8 萬股及 202.1 萬股普通股的股份，並並須繳納相應的稅款。這項稅款扣減活動與股份回購計劃無關。

樂山鳳凰半導體有限公司（「樂山」）的非控股利益

樂山的結果已經納入公司的基本報表中。樂山的非控制權益餘額為$19.9 百萬於2024年9月27日包括其$1.9 百萬收益股份，截至2024年9月27日結束之九個月。截至2023年12月31日，樂山的非控制權益餘額為$18.0百萬。

Note 8: Share-Based Compensation

Total share-based compensation expense related to the RSUs, stock grant awards and the ESPP was recorded within the Consolidated Statements of Operations and Comprehensive Income as follows (in millions):
Quarters EndedNine Months Ended
September 27, 2024September 29, 2023September 27, 2024September 29, 2023
Cost of revenue$6.2 $4.8 $18.1 $13.4 
Research and development6.1 5.3 18.2 15.0 
Selling and marketing4.8 4.7 15.4 13.8 
General and administrative15.6 16.3 46.3 48.2 
Share-based compensation expense32.7 31.1 98.0 90.4 
     Income tax benefit(6.9)(6.5)(20.6)(19.0)
Share-based compensation expense, net of tax$25.8 $24.6 $77.4 $71.4 

As of September 27, 2024, the total unrecognized expected share-based compensation expense, net of estimated forfeitures, related to non-vested RSUs with service, performance and market conditions was $174.3 million, which is expected to be recognized over a weighted-average period of 1.8 years. Upon vesting of RSUs or stock grant awards or completion of a purchase under the ESPP, new shares of common stock are issued. The annualized pre-vesting forfeiture rate for RSUs was estimated to be 8% for each of the quarters and nine months ended September 27, 2024 and September 29, 2023.

Shares Available

As of September 27, 2024 and December 31, 2023, there was an aggregate of 33.7 million and 37.1 million shares of common stock, respectively, available for grant under the Amended and Restated SIP.

21
目錄
英飛凌半導體公司
合併財務報表附註-續
(未經審計)


Restricted Stock Units

RSUs generally vest ratably over three years for awards with service conditions and over two or five years for awards with performance, service and market conditions, or a combination thereof, and are settled in shares of common stock upon vesting. A summary of the RSU transactions for the nine months ended September 27, 2024 was as follows (in millions, except per share data):
 Number of SharesWeighted-Average Grant Date Fair Value Per Share
Non-vested RSUs at December 31, 20233.2 $69.39 
Granted2.2 77.72 
Achieved0.3 61.20 
Released(1.8)63.36 
Forfeited(0.3)72.74 
Non-vested RSUs at September 27, 20243.6 76.37 

Note 9: Commitments and Contingencies

Environmental Contingencies

The Company has encountered and dealt with a number of environmental issues over time relating to the various locations where it conducts its operations and has incurred certain costs related to clean-up activities and environmental remediation efforts. In certain instances, the Company has been indemnified for such costs, often from third parties who were the prior owners of such facilities. Any costs to the Company in connection with such environmental matters have generally not been, and based on the information available, are not expected to be material.
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 arrangements and/or customs guarantees. The Revolving Credit Facility includes $25.0 million available for the issuance of letters of credit, of which $0.9 million was outstanding as of September 27, 2024, which reduced the borrowing capacity under such facility. As of September 27, 2024, the Company also had outstanding guarantees and letters of credit outside of its Revolving Credit Facility totaling $6.6 million.
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 September 27, 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.

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
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ON SEMICONDUCTOR CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued
(unaudited)


Company does not believe that any amounts that it may be required to pay under these indemnities in the future will be material to the Company’s business, financial position, results of operations, or cash flows.

Legal Matters

The Company is currently involved in a variety of legal matters that arise in the ordinary course of business. Based on information currently available, 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. However, 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

2023年12月13日，一起以Hubacek訴安森美半導體公司等人爲標題的集體訴訟案，案號1:23-cv-01429（D. Del.）在美國特拉華區地區法院由公司的一名聲稱的股東提起。該案於2024年3月被轉至亞利桑那州地區法院。最初的訴訟聲稱公司違反了1934年證券交易法的第10(b)和第20(a)條。最初的訴訟聲稱被告在公司的SiC業務方面發表了誤導性言論。修正的訴訟於2024年5月31日提起。修正訴訟再次聲稱涉嫌違反1934年證券交易法的第10(b)和第20(a)條。原告尋求判決本案可以作爲集體訴訟繼續進行，並尋求賠償、律師費和成本。公司於2024年7月30日提交了駁回修正訴訟的動議。在審查公司的駁回修正訴訟的動議後，原告認爲有必要進一步修改他們的訴訟。2024年9月6日，原告提起了他們的第二次修正訴訟。公司於2024年10月10日提交了駁回這一第二次修正訴訟的動議。預計將於2024年12月20日完成對駁回第二次修正訴訟的書面辯護。公司相信自己有強有力的法律辯護來抵制聲稱，並將會積極地進行辯護。

On January 3, 2024, a purported stockholder derivative action captioned Silva v. El-Khoury, et al., Case No. 1:24-cv-00007 (D. Del.), 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.), 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.), 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.), 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 v. On Semiconductor Corp.

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, and/or request other remedies.

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ON SEMICONDUCTOR CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued
(unaudited)


Note 10: Fair Value Measurements

Fair Value of Financial Instruments

The following tier level hierarchy is used to determine fair values of the 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 values 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 amounts of other current assets and liabilities, such as accounts receivable and accounts payable, approximate 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 September 27, 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 values of the long-term borrowings were as follows (in millions):
As of
 September 27, 2024December 31, 2023
 Carrying
Amount		Fair ValueCarrying
Amount		Fair Value
Long-term debt, including current portion (1)
0% Notes
$796.4 $1,203.3 $794.0 $1,334.4 
0.50% Notes
1,476.9 1,529.8 1,473.1 1,596.6 
3.875% Notes
695.3 669.2 694.4 652.0 
Revolving Credit Facility375.0 390.1 375.0 390.6 

(1) Carrying amounts shown are net of debt discount, if applicable, and debt issuance costs.

Fair values of the 0% Notes, 0.50% Notes and 3.875% Notes were 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).

Note 11: Financial Instruments

Foreign Currencies

As a multinational business, the Company engages in transactions that 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. The Company is exposed to credit-related losses if counterparties to hedge contracts fail to perform their obligations.

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ON SEMICONDUCTOR CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued
(unaudited)


As of September 27, 2024 and December 31, 2023, the Company had net outstanding foreign exchange contracts with notional amounts of $286.6 million and $262.2 million, respectively. Such contracts were obtained through financial institutions and were scheduled to mature within one month from the time of purchase. Management believes that these financial instruments should not subject the Company to increased risks from foreign exchange movements because gains and losses on these contracts should offset losses and gains on the underlying assets, liabilities and transactions to which they are related.

The following summarizes the Company’s net foreign exchange positions in U.S. Dollars (in millions):
As of
September 27, 2024December 31, 2023
Buy (Sell)Notional AmountBuy (Sell)Notional Amount
Japanese Yen$34.7 $34.7 $55.2 $55.2 
Philippine Peso47.2 47.2 47.3 47.3 
Czech Koruna22.1 22.1 16.8 16.8 
Euro80.9 80.9 64.6 64.6 
Korean Won(37.9)37.9 (14.3)14.3 
Other Currencies - Buy54.9 54.9 54.4 54.4 
Other Currencies - Sell(8.9)8.9 (9.6)9.6 
$193.0 $286.6 $214.4 $262.2 

Amounts receivable or payable under the contracts were not material as of September 27, 2024 or December 31, 2023. During the quarters ended September 27, 2024 and September 29, 2023, net of the impact of the hedge positions, the realized and unrealized foreign currency transactions totaled a loss of $5.5 million and a gain of $1.5 million, respectively. During the nine months ended September 27, 2024 and September 29, 2023, net of the impact of the hedge positions, the realized and unrealized foreign currency transactions totaled a loss of $3.9 million and $1.2 million, respectively. The realized and unrealized foreign currency transactions are included in other income (expense) in the Consolidated Statements of Operations and Comprehensive Income.

Cash Flow Hedges

Foreign currency risk

The Company's foreign currency forward contracts generally mature within 12 months and are designated as cash flow hedges for accounting purposes. As of September 27, 2024, the notional value of outstanding foreign currency forward contracts designated as cash flow hedges was $158.6 million, with a fair value of $2.8 million recorded as other current assets. A loss of $1.4 million and $7.7 million was recognized as a component of cost of revenue for the quarter and nine months ended September 27, 2024, respectively. The Company did not identify any ineffectiveness with respect to the notional amounts of the foreign currency forward contracts effective as of September 27, 2024.

Other

As of September 27, 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. The Company is exposed to credit-related losses if its hedge counterparties fail to perform their obligations.

As of September 27, 2024, the counterparties to the Company's hedge contracts were held at financial institutions which the Company believes to be highly rated, and no credit-related losses are anticipated.

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ON SEMICONDUCTOR CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued
(unaudited)


Note 12: Income Taxes

公司在《綜合收支表》中承認與不確定稅務問題相關的利息和滯納金計入稅費。公司相應確認了約1000萬美元的淨利息和滯納金。3.01百萬美元和2.0截至2024年9月27日和2023年12月31日，公司確認的利息和滯納金約爲1000萬美元。公司未承認的稅收利益有可能在未來12個月內減少約1000萬美元，因爲適用的訴訟時效即將到期。3.8 在未來12個月內，由於適用訴訟時效到期，公司未承認的稅收利益可能會減少1000萬美元。

公司對其美國州遞延稅項資產保留部分估值準備金，並對主要在2025年到期的外國淨經營虧損和稅收抵免保留估值準備金。

稅務年限在2021年之前通常不受美國國內稅務局審查。對於州級稅務申報，公司通常不受2019年之前稅務年限的收入稅審查。至於美國以外的司法管轄區，公司通常不受2014年之前稅務年限的審查。

注13：累積其他綜合損失變動

包括累計其他綜合損失和重新分類的金額如下（單位：百萬美元）：
貨幣翻譯調整現金流量套期工具的影響總費用
2023年12月31日的餘額$(52.5)$7.3 $(45.2)
其他綜合收益（損失）重新分類之前(0.7)13.4 12.7 
重新分類的累計其他綜合損失中的金額— (16.6)(16.6)
當期其他綜合損失 (1)
(0.7)(3.2)(3.9)
截至2024年9月27日的餘額$(53.2)$4.1 $(49.1)

(1) 現金流量套期產品的影響已經減去了稅後影響$0.4 百萬美元，截至2024年9月27日的九個月。

從累積其他綜合損益重新分類至綜合收益表中特定項目的金額如下（單位：百萬美元）：
Quarters EndedNine Months Ended
 September 27, 2024September 29, 2023September 27, 2024September 29, 2023To caption
Cash flow hedges$(1.4)$— $(7.7)$(0.8)Cost of revenue
Interest rate swaps— (2.9)— (10.9)Interest expense
Interest rate swaps terminations(3.0)— (8.9)(6.9)Other income
Total reclassifications$(4.4)$(2.9)$(16.6)$(18.6)
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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion in conjunction with our audited historical consolidated financial statements, which are included in the 2023 Form 10-K, and our unaudited consolidated financial statements for the fiscal quarter ended September 27, 2024, which are included elsewhere in this Form 10-Q. This Management's Discussion and Analysis of Financial Condition and Results of Operations contains statements that are forward-looking. These statements are based on expectations and assumptions as of the date of this Form 10-Q and are subject to risks, uncertainties and other factors. Actual results could differ materially because of the factors discussed below or elsewhere in this Form 10-Q. See Part II, Item 1A. "Risk Factors" of this Form 10-Q and Part I, Item 1A. "Risk Factors" of the 2023 Form 10-K.

Executive Overview

onsemi Overview

We provide intelligent power and intelligent sensing solutions with a primary focus towards automotive and industrial markets to help our customers solve challenging problems and create cutting-edge products for a better future. Our intelligent power technologies enable the electrification of the automotive industry that allows for lighter and longer-range electric vehicles, empowers efficient fast-charging systems and propels sustainable energy for the highest efficiency solar strings and industrial power. Our intelligent power solutions for the automotive industry allow our customers to exceed range targets with lower weight and reduce system cost through efficiency. We are utilizing our extensive range of power technologies to address the growing power demands of artificial intelligence and data centers. Our intelligent sensing technologies support the next generation industry, allowing for smarter factories and buildings while also enhancing the automotive mobility experience with imaging and depth sensing that make advanced vehicle safety and automated driving systems possible.

We believe the evolution of the automotive industry, with advancements in autonomous driving, ADAS, vehicle electrification, and the increase in electronics content for vehicle platforms, is reshaping the boundaries of transportation. Through sensing integration, we believe our intelligent power solutions achieve superior efficiencies compared to our peers. This integration allows lower temperature operation and reduced cooling requirements while saving costs and minimizing weight. In addition, our power solutions deliver power with less die per module, achieving higher range for a given battery capacity.

During the first quarter of 2024, we renamed our Advanced Solutions Group ("ASG") reportable segment to Analog and Mixed-Signal Group ("AMG") and reorganized the existing divisions within PSG and AMG. See Note 2: ''Segments and Revenue'' in the notes to the unaudited consolidated financial statements included elsewhere in this Form 10-Q for additional information regarding the segment reorganization. As of September 27, 2024, we were organized into the three operating and reportable segments of PSG, AMG and ISG.

Business Strategy Developments

Our primary focus continues to be on profitable revenue with stable gross margin by capturing high-growth megatrends in our focused end-markets of automotive and industrial infrastructure. We design products in highly-differentiated markets focused on customer needs while optimizing and right-sizing our manufacturing footprint to support growth and maintain gross margins through efficiencies and new product development. We are focused on achieving efficiencies in our operating and capital expenditures, capital allocation on research and development investments and resources to accelerate growth in high-margin products.

2024 Business Realignment

In an effort to streamline resources, drive organizational efficiencies, consolidate our global corporate footprint, and align with our "Fab Right" manufacturing strategy, we initiated the 2024 business realignment efforts during the second quarter of 2024. Under this business realignment, approximately 1,100 employees were notified of their employment termination and around 200 additional employees were reassigned or asked to relocate to another site so far. During the nine months ended September 27, 2024, we incurred severance and other related charges of approximately $70.1 million and asset impairments and other charges of approximately $29.5 million. For additional information, see Note 4: ''Restructuring, Asset Impairments and Other Charges, Net'' in the notes to our unaudited consolidated financial statements included elsewhere in this Form 10-Q.

Share Repurchases

During the quarter ended September 27, 2024, we repurchased approximately 2.8 million shares of common stock for an aggregate purchase price of $200.4 million. For additional information, see Note 7: ''Earnings Per Share and Equity'' in the notes to our unaudited consolidated financial statements included elsewhere in this Form 10-Q.

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Results of Operations

Quarter Ended September 27, 2024 compared to the Quarter Ended September 29, 2023

下表彙總了與我們的經營業績相關的某些信息，這些信息來自我們未經審計的合併財務報表（以百萬計）：
 季度已結束
 2024年9月27日2023 年 9 月 29 日美元兌換
收入$1,761.9 $2,180.8 $(418.9)
收入成本962.5 1,150.1 (187.6)
毛利潤799.4 1,030.7 (231.3)
運營費用：
研究和開發151.0 143.4 7.6 
銷售和營銷65.4 68.2 (2.8)
一般和行政95.5 110.7 (15.2)
與收購相關的無形資產的攤銷13.0 12.0 1.0 
重組、資產減值和其他費用，淨額29.1 9.4 19.7 
運營費用總額354.0 343.7 10.3 
營業收入445.4 687.0 (241.6)
其他收入（支出），淨額：
利息支出(15.7)(16.2)0.5 
利息收入28.6 25.7 2.9 
業務剝離造成的損失— (0.1)0.1 
其他收入（支出）(3.7)1.1 (4.8)
其他收入（支出），淨額9.2 10.5 (1.3)
所得稅前收入454.6 697.5 (242.9)
所得稅條款(51.9)(114.6)62.7 
淨收入402.7 582.9 (180.2)
減去：歸屬於非控股權益的淨收益(1.0)(0.2)(0.8)
歸屬於安森半導體公司的淨收益$401.7 $582.7 $(181.0)

Revenue

Revenue was $1,761.9 million and $2,180.8 million for the quarters ended September 27, 2024 and September 29, 2023, respectively, representing a decrease of $418.9 million, or approximately 19%, year over year. We had one customer, a distributor, whose revenue accounted for approximately 12% and 11% of our total revenue for the quarters ended September 27, 2024 and September 29, 2023, respectively.

Revenue by operating and reportable segments was as follows (dollars in millions):
 
Quarter Ended September 27, 2024
As a % of
Total Revenue (1)
Quarter Ended September 29, 2023
As a % of
Total Revenue (1)
PSG$829.4 47.1 %$1,076.5 49.4 %
AMG653.7 37.1 %775.7 35.6 %
ISG278.8 15.8 %328.6 15.1 %
Total revenue$1,761.9 $2,180.8 

(1) Certain amounts may not total due to rounding of individual amounts.

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Revenue from PSG decreased by $247.1 million, or approximately 23%, for the quarter ended September 27, 2024 compared to the quarter ended September 29, 2023. Revenue from our Automotive Power Division, Multi-Market Power Division and Industrial Power Division decreased by $129.7 million, $58.9 million and $58.5 million, respectively, primarily driven by a decrease in demand in the automotive and industrial end-markets.

Revenue from AMG decreased by $122.0 million, or approximately 16%, for the quarter ended September 27, 2024 compared to the quarter ended September 29, 2023. Revenue from our Sensor Interface Division, Power Management Division and Integrated Circuit Division decreased by $65.4 million, $47.4 million and $9.2 million, respectively, primarily due to a decrease in demand in the automotive and industrial end-markets.

Revenue from ISG decreased by $49.8 million, or approximately 15%, for the quarter ended September 27, 2024 compared to the quarter ended September 29, 2023, largely driven by a decrease in revenue from our Industrial and Consumer Solutions Division and Automotive Sensing Division of $35.1 million and $14.7 million, respectively, primarily due to the decrease in demand for these products in the automotive and industrial end-markets.

Revenue by geographic location, based on sales billed from the respective country or region, was as follows (dollars in millions): 
Quarter Ended September 27, 2024
As a % of
Total Revenue (1) 
Quarter Ended September 29, 2023
As a % of
Total Revenue (1)
Hong Kong$466.9 26.5 %$581.9 26.7 %
Singapore449.5 25.5 %506.8 23.2 %
United Kingdom395.8 22.5 %464.2 21.3 %
United States281.9 16.0 %424.5 19.5 %
Other167.8 9.5 %203.4 9.3 %
Total revenue$1,761.9 $2,180.8 

(1) Certain amounts may not total due to rounding of individual amounts.

Gross Profit and Gross Margin

Gross profit decreased by $231.3 million, or approximately 22%, to $799.4 million for the quarter ended September 27, 2024 compared to $1,030.7 million for the quarter ended September 29, 2023. This was primarily due to the decline in sales volume from existing products and new products which negatively impacted gross profit by approximately $162 million and $77 million, respectively, partially offset by approximately $8 million due to a reduction in the lower-margin manufacturing services revenue at our EFK location.

Our gross margin decreased by approximately 1.9 percentage points to 45.4% for the quarter ended September 27, 2024 from 47.3% for the quarter ended September 29, 2023, primarily due to changes as explained in the segment gross margin sections below.

Our gross profit by operating and reportable segments was as follows (dollars in millions):
 
截至2024年9月27日的季度
佔總數的百分比
收入
截至2023年9月29日的季度
佔總數的百分比
收入
PSG$344.9 41.6 %$513.5 47.7 %
AMG325.3 49.8 %361.1 46.6 %
ISG129.2 46.3 %156.1 47.5 %
毛利總額$799.4 45.4 %$1,030.7 47.3 %

以下提供了截至2024年9月27日的季度與2023年9月29日季度毛利潤金額和毛利率百分比波動的解釋:

PSG 毛利潤減少了1.686億美元，主要是由於現有產品和新產品的成交量下降，這分別對毛利潤產生了大約9100萬和7700萬的負面影響。PSG 毛利率下降了6.1個百分點，從47.7%降至41.6%，主要是由於成交量下降、閒置使用率低以及不利產品組合的相關影響。
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AMG的毛利潤減少了3580萬美元，主要是由於現有產品銷售量下降，從而對毛利潤產生了約4300萬美元的負面影響，部分抵消了由於在我們EFk地點降低了低毛利率製造業務收入而帶來的約800萬美元的改善毛利潤。 AMG的毛利率從46.6%上升了3.2個百分點至49.8%，主要是由於在我們EFk地點降低了低毛利率製造業務收入和產品組合有利變化。

ISG毛利潤減少了2690萬美元，主要是由於現有產品銷售量下降所致。ISG毛利率從47.5%下降了1.2個百分點到46.3%，主要是由於產品結構不利的變化所致。

營業費用

截至2024年9月27日的季度，研發費用爲15100萬美元，而2023年9月29日季度爲14340萬美元，增加了760萬美元，約爲5%。主要增加是由於工資相關費用和生產物資的增加。

截至2024年9月27日的季度，銷售和營銷費用爲6540萬美元，較2023年9月29日的6820萬美元下降280萬美元，或約爲4%。這一減少主要歸因於銷售佣金的減少。

截至2024年9月27日的當季，一般行政費用爲9550萬美元，較2023年9月29日的當季的11070萬美元下降了1520萬美元，或約14%。這一降低主要是由於與策略合作伙伴的壞賬準備減少，相比於2023年9月29日的當季。

其他營業費用

攤銷收購相關無形資產

Amortization of acquisition-related intangible assets was $13.0 million for the quarter ended September 27, 2024, as compared to $12.0 million for the quarter ended September 29, 2023, representing an increase of $1.0 million, or approximately 8%.

Restructuring, Asset Impairments and Other, Net

Restructuring, asset impairments and other, net was $29.1 million for the quarter ended September 27, 2024, as compared to $9.4 million for the quarter ended September 29, 2023. Charges incurred for the quarter ended September 27, 2024 primarily relate to restructuring actions during the period. See Note 4: ''Restructuring, Asset Impairments and Other Charges, Net'' in the notes to our unaudited consolidated financial statements included elsewhere in this Form 10-Q for additional information.

Interest Expense

Interest expense decreased by $0.5 million to $15.7 million during the quarter ended September 27, 2024, as compared to $16.2 million during the quarter ended September 29, 2023. The decrease was primarily due to the maturity of the 1.625% Notes in 2023. Our average gross long-term debt for the quarter ended September 27, 2024 was $3,379.9 million at a weighted-average interest rate of 1.9%, as compared to $3,499.5 million at a weighted-average interest rate of 1.8% for the quarter ended September 29, 2023. The calculation of our weighted-average interest rates includes the effect of our interest rate swap agreements.

Interest Income

Interest income increased by $2.9 million, or approximately 11%, to $28.6 million during the quarter ended September 27, 2024 compared to $25.7 million during the quarter ended September 29, 2023, primarily due to higher interest rates and increased balances in interest-bearing accounts.

Other Income (Expense)

During the quarter ended September 27, 2024, other income was $3.7 million compared to an expense of $1.1 million during the quarter ended September 29, 2023.

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Income Tax Provision

We recorded an income tax provision of $51.9 million and $114.6 million for the quarters ended September 27, 2024 and September 29, 2023, respectively, representing effective tax rates of 11.4% and 16.4%, respectively. The decrease in our effective tax rate is mainly due to return-to-provision adjustments reflecting additional tax benefits from Foreign Derived Intangible Income.

For additional information, see Note 12: ''Income Taxes'' in the notes to the unaudited consolidated financial statements included elsewhere in this Form 10-Q.

Results of Operations

Nine Months Ended September 27, 2024 compared to the Nine Months Ended September 29, 2023

The following table summarizes certain information relating to our operating results that has been derived from our unaudited consolidated financial statements (in millions): 
 Nine Months Ended
 September 27, 2024September 29, 2023Dollar Change
Revenue$5,359.8 $6,234.9 $(875.1)
Cost of revenue2,922.8 3,293.3 (370.5)
Gross profit2,437.0 2,941.6 (504.6)
Operating expenses:
Research and development457.5 427.1 30.4 
Selling and marketing203.1 211.6 (8.5)
General and administrative275.8 273.8 2.0 
Amortization of acquisition-related intangible assets38.5 39.0 (0.5)
Restructuring, asset impairments and other charges, net103.0 63.5 39.5 
Total operating expenses1,077.9 1,015.0 62.9 
Operating income1,359.1 1,926.6 (567.5)
Other income (expense), net:
Interest expense(47.0)(59.0)12.0 
Interest income83.6 66.8 16.8 
Loss on debt prepayment— (13.3)13.3 
Loss on divestiture of business— (0.7)0.7 
Other income(0.8)4.5 (5.3)
Other income (expense), net35.8 (1.7)37.5 
Income before income taxes1,394.9 1,924.9 (530.0)
Income tax provision(200.1)(302.7)102.6 
Net income1,194.8 1,622.2 (427.4)
Less: Net income attributable to non-controlling interest(1.9)(1.2)(0.7)
Net income attributable to ON Semiconductor Corporation$1,192.9 $1,621.0 $(428.1)

Revenue

Revenue was $5,359.8 million and $6,234.9 million for the nine months ended September 27, 2024 and September 29, 2023, respectively, representing a decrease of $875.1 million, or approximately 14%, year over year. We had one customer, a distributor, whose revenue accounted for approximately 11% and 10% of our total revenue for the nine months ended September 27, 2024 and September 29, 2023, respectively.

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Revenue by operating and reportable segments was as follows (dollars in millions):
Nine Months Ended September 27, 2024
As a % of
Total Revenue (1)
Nine Months Ended September 29, 2023
As a % of
Total Revenue (1)
PSG$2,538.8 47.4 %$2,914.8 46.7 %
AMG1,998.5 37.3 %2,312.3 37.1 %
ISG822.5 15.3 %1,007.8 16.2 %
Total revenue$5,359.8 $6,234.9 

(1) Certain amounts may not total due to rounding of individual amounts.

Revenue from PSG decreased by $376.0 million, or approximately 13%, for the nine months ended September 27, 2024 compared to the nine months ended September 29, 2023. Revenue from our Multi-Market Power Division, Industrial Power Division and Automotive Power Division decreased by $176.3 million, $115.8 million and $83.9 million, respectively, primarily driven by a decrease in demand in the automotive and industrial end-markets.

Revenue from AMG decreased by $313.8 million, or approximately 14%, for the nine months ended September 27, 2024 compared to the nine months ended September 29, 2023. Revenue from our Power Management Division, Integrated Circuit Division and Sensor Interface Division decreased by $157.3 million, $78.6 million and $77.9 million, respectively, primarily due to a decrease in demand in the automotive and industrial end-markets.

Revenue from ISG decreased by $185.3 million, or approximately 18%, for the nine months ended September 27, 2024 compared to the nine months ended September 29, 2023, largely driven by a decrease in revenue from our Industrial and Consumer Solutions Division and Automotive Sensing Division of $100.3 million and $85.0 million, respectively, primarily due to the decrease in demand for these products in the automotive and industrial end-markets.

Revenue by geographic location, including local sales made by operations within each area, based on sales billed from the respective region, was as follows (dollars in millions):
Nine Months Ended September 27, 2024
As a % of
Total Revenue (1) 
Nine Months Ended September 29, 2023
As a % of
Total Revenue (1)
Hong Kong$1,325.8 24.7 %$1,602.5 25.7 %
Singapore1,273.0 23.8 %1,476.8 23.7 %
United Kingdom1,253.6 23.4 %1,326.8 21.3 %
United States1,025.7 19.1 %1,194.5 19.2 %
Other481.7 9.0 %634.3 10.2 %
Total revenue$5,359.8 $6,234.9 

(1) Certain amounts may not total due to rounding of individual amounts.

Gross Profit and Gross Margin

Gross profit was $2,437.0 million for the nine months ended September 27, 2024 compared to $2,941.6 million for the nine months ended September 29, 2023, representing a decrease of $504.6 million, or approximately 17%. This was primarily due to the decline in sales volume from existing products and new products which negatively impacted gross profit by approximately $487 million and $79 million, respectively, partially offset by approximately $62 million due to a reduction in the lower-margin manufacturing services revenue at our EFK location.

Our gross margin decreased by 1.7 percentage points to 45.5% for the nine months ended September 27, 2024 from 47.2% for the nine months ended September 29, 2023, primarily due to changes as explained in the segment gross margin sections below.

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Our gross profit by operating and reportable segments was as follows (dollars in millions): 
Nine Months Ended September 27, 2024
As a % of
Revenue
Nine Months Ended September 29, 2023
As a % of
Revenue
PSG$1,059.1 41.7 %$1,377.9 47.3 %
AMG986.0 49.3 %1,075.3 46.5 %
ISG391.9 47.6 %488.4 48.5 %
Total gross profit$2,437.0 45.5 %$2,941.6 47.2 %

Explanation for the increase or decrease in gross profit amounts and gross margin percentages for the nine months ended September 27, 2024 compared to the nine months ended September 29, 2023 is provided below:

PSG gross profit decreased by $318.8 million, primarily driven by the decline in sales volume from existing products and new products which negatively impacted gross profit by approximately $240 million and $79 million, respectively. PSG gross margin decreased by 5.6 percentage points to 41.7% from 47.3%, primarily as a result of the decline in volume, underutilization and the related impact of unfavorable product mix.

AMG gross profit decreased by $89.3 million, primarily driven by the decline sales volume from existing products which negatively impacted gross profit by approximately $151 million, partially offset by improved gross profit of approximately $62 million from the lower-margin manufacturing services revenue at our EFK location. AMG gross margin increased by 2.8 percentage points to 49.3% from 46.5%, primarily due to the reduction in the lower-margin manufacturing services revenue at our EFK location.

ISG gross profit decreased by $96.5 million, primarily driven by the decline in sales volume from existing products. ISG gross margin decreased 0.9 percentage points to 47.6% from 48.5%, primarily driven by unfavorable changes in product mix.

Operating Expenses

Research and development expenses were $457.5 million for the nine months ended September 27, 2024, as compared to $427.1 million for the nine months ended September 29, 2023, representing an increase of $30.4 million, or approximately 7%. The increase was primarily attributable to an increase in payroll-related expenses and production supplies, partially offset by a decrease in variable compensation.

Selling and marketing expenses were $203.1 million for the nine months ended September 27, 2024, as compared to $211.6 million for the nine months ended September 29, 2023, representing a decrease of $8.5 million, or approximately 4%. The decrease was primarily attributable to a decrease in sales commissions.

General and administrative expenses were $275.8 million for the nine months ended September 27, 2024, as compared to $273.8 million for the nine months ended September 29, 2023, representing an increase of $2.0 million, or approximately 1%. The increase was primarily attributable to expenses associated with information technology initiatives, partially offset by a decrease in the bad debt provision with a strategic business partner and a decrease in variable compensation.

Other Operating Expenses

Amortization of Acquisition-Related Intangible Assets

Amortization of acquisition-related intangible assets was $38.5 million and $39.0 million for the nine months ended September 27, 2024 and September 29, 2023, respectively, representing a decrease of $0.5 million, or approximately 1%. The decrease was due to a reduction in amortization expense as certain intangible assets became fully amortized.

Restructuring, Asset Impairments and Other, Net

Restructuring, asset impairments and other, net was $103.0 million for the nine months ended September 27, 2024, as compared to $63.5 million for the nine months ended September 29, 2023, representing an increase of $39.5 million. Amounts incurred for the nine months ended September 27, 2024 related primarily to the business realignment efforts in the first nine months of 2024. See Note 4: ''Restructuring, Asset Impairments and Other Charges, Net'' in the notes to our unaudited consolidated financial statements included elsewhere in this Form 10-Q for additional information.
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Interest Expense

Interest expense decreased by $12.0 million to $47.0 million during the nine months ended September 27, 2024, as compared to $59.0 million during the nine months ended September 29, 2023. The decrease was primarily due to higher variable-rate debt that was paid down and replaced by the 0.50% Notes in 2023. Our average gross long-term debt balance for the nine months ended September 27, 2024 was $3,379.9 million at a weighted-average interest rate of 1.9%, as compared to $3,363.9 million at a weighted-average interest rate of 2.3% for the nine months ended September 29, 2023. The calculation of our weighted-average interest rates includes the effect of our interest rate swap agreements.

Interest Income

Interest income increased by $16.8 million, or approximately 25%, to $83.6 million during the nine months ended September 27, 2024 compared to $66.8 million during the nine months ended September 29, 2023, primarily due to higher interest rates and increased balances in interest-bearing accounts.

Loss on Debt Prepayment

There was no loss on debt prepayment recognized for the nine months ended September 27, 2024, as compared to $13.3 million for the nine months ended September 29, 2023 due to the write-off relating to the partial repayment of the Term Loan "B" Facility in 2023.

Other Income (Expense)

Other income (expense) was an income of $0.8 million for the nine months ended September 27, 2024 as compared to $4.5 million for the nine months ended September 29, 2023.

Income Tax Provision

We recorded an income tax provision of $200.1 million and $302.7 million during the nine months ended September 27, 2024 and September 29, 2023, respectively, representing effective tax rates of 14.3% and 15.7%, respectively. The decrease in our effective tax rate is mainly due to return-to-provision adjustments reflecting additional tax benefits from Foreign Derived Intangible Income.

For additional information, see Note 12: ''Income Taxes'' in the notes to the unaudited consolidated financial statements included elsewhere in this Form 10-Q.

Liquidity and Capital Resources

Overview

Our principal sources of liquidity are cash on hand, cash generated from operations, available borrowings under our Revolving Credit Facility as well as new debt and/or equity issuances. In the near term, we expect to fund our cash requirements by utilizing any or a combination of these principal sources, including any amounts required to satisfy our current portion of long-term debt. Our cash and cash equivalents and short-term investments were approximately $2.8 billion as of September 27, 2024, and the Revolving Credit Facility has approximately $1.1 billion available for future borrowings.

We require cash to: (i) fund our operating expenses, working capital requirements, outlays for strategic acquisitions and investments; (ii) service our debt, including principal and interest; (iii) incur capital expenditures; and (iv) repurchase our common stock. During the ordinary course of business, we evaluate our cash requirements and, if necessary, adjust our expenditures to reflect the current market conditions and our projected sales and demand. Our capital expenditures are primarily directed towards manufacturing equipment. Future capital expenditures may be impacted by events and transactions that are not currently forecasted.

We believe that our cash on hand, cash generated from our operations and the amounts available under the Revolving Credit Facility are adequate to meet our working capital requirements and other business needs for at least the next 12 months.

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Operating Activities

Our cash flows from operating activities were $1,326.7 million and $1,366.3 million for the nine months ended September 27, 2024 and September 29, 2023, respectively. The decrease of $39.6 million was primarily due to a reduction in net income driven by lower end-market demand for our products partially offset by the timing of cash receipts and payments related to working capital balances.

Our ability to maintain positive operating cash flows is dependent on, among other factors, our success in achieving our revenue goals and manufacturing and operating cost targets. Management of our assets and liabilities, including both working capital and long-term assets and liabilities, also influences our operating cash flows.

Investing Activities

Our cash flows used in investing activities were $858.1 million and $1,352.7 million for the nine months ended September 27, 2024 and September 29, 2023, respectively. The decrease of $494.6 million was primarily attributable to a decrease in capital expenditures and payments for the acquisition of our EFK location during the nine months ended September 29, 2023 partially offset by the purchase of short-term investments. Our capital expenditures as a percent of revenue were approximately 10%, and we expect capital expenditures to be in the range of 8% - 10% of revenue for the remainder of 2024.

Financing Activities

Our cash flows used in financing activities were $480.5 million and $254.3 million for the nine months ended September 27, 2024 and September 29, 2023, respectively. The increase of $226.2 million was primarily attributable to increased share repurchases during the nine months ended September 27, 2024 compared to the same period in 2023. Additionally, during the nine months ended September 29, 2023, we had net cash outflows related to the establishment of our New Credit Agreement.

We do not have any meaningful debt maturing during the next 12 months. Our 0% Notes are also classified as a current liability based on share price trigger provisions. We expect to continue our Share Repurchase Program subject to market conditions, the price of our shares and other factors (including liquidity needs). However, the Share Repurchase Program may be modified, suspended or terminated by the Board of Directors at any time without prior notice.

Key Factors Potentially Affecting Liquidity

We believe that the key factors that could adversely affect our internal and external sources of cash include, among other considerations:
•changes in demand for our products, competitive pricing pressures, supply chain constraints, effective management of our manufacturing capacity, our ability to achieve further reductions in operating expenses, our ability to make progress on the achievement of our business strategy and sustainability goals, the impact of our restructuring programs on our production and cost efficiency, and our ability to make the research and development expenditures required to remain competitive in our business; and
•the debt and equity capital markets could impact our ability to obtain needed financing on acceptable terms or to respond to business opportunities and developments as they arise, including interest rate fluctuations, macroeconomic conditions, sudden reductions in the general availability of lending from banks or the related increase in cost to obtain bank financing and our ability to maintain compliance with covenants under our debt agreements in effect from time to time.

Debt Guarantees and Related Covenants

As of September 27, 2024, we were in compliance with the indentures relating to our 0% Notes, 0.50% Notes and 3.875% Notes and with covenants included in the New Credit Agreement. The 0% Notes, 0.50% Notes and 3.875% Notes are senior to the existing and future subordinated indebtedness of onsemi and its guarantor subsidiaries, rank equally in right of payment to all of our existing and future senior debt and, as unsecured obligations, are subordinated to all of our existing and future secured debt to the extent of the assets securing such debt.

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Recent Accounting Pronouncements

For a discussion of recent accounting pronouncements, see Note 3: ''Recent Accounting Pronouncements and Other Developments'' in the notes to the unaudited consolidated financial statements included elsewhere in this Form 10-Q and our 2023 Form 10-K.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

There have been no material changes in market risk from the information presented in Part II, Item 7A. "Quantitative and Qualitative Disclosures About Market Risk," in the 2023 Form 10-K.

Item 4.  Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act). Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that, as of the end of the period covered in this report, our disclosure controls and procedures were effective to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the required time periods and is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

Changes in Internal Control Over Financial Reporting

We also carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of changes to our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) that occurred during the fiscal quarter ended September 27, 2024.

There have been no changes to our internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) that occurred during the fiscal quarter ended September 27, 2024 which have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
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PART II: OTHER INFORMATION

Item 1. Legal Proceedings

See Note 9: ''Commitments and Contingencies'' under the heading "Legal Matters" in the notes to the consolidated unaudited financial statements included elsewhere in this Form 10-Q for additional information on our legal proceedings and related matters. See also Part I, Item 1 "Business - Government Regulation" of the 2023 Form 10-K for information on certain environmental matters.

Item 1A. Risk Factors

Our business, financial condition and results of operations are subject to a number of trends, risks and uncertainties. We review and, where applicable, update our risk factors each quarter. There have been no material changes from the risk factors disclosed in Part I, Item 1A of the 2023 Form 10-K.

Forward-Looking Statements

This Quarterly Report on Form 10-Q includes "forward-looking statements," as that term is defined in Section 27A of the Securities Act and Section 21E of the Exchange Act. All statements, other than statements of historical facts, included or incorporated in this Form 10-Q could be deemed forward-looking statements, particularly statements about our plans, strategies and prospects under the heading "Management’s Discussion and Analysis of Financial Condition and Results of Operations." Forward-looking statements are often characterized by the use of words such as "believes," "estimates," "expects," "projects," "may," "will," "intends," "plans," "anticipates," "should" or similar expressions, or by discussions of strategy, plans or intentions. All forward-looking statements in this Form 10-Q are made based on our current expectations, forecasts, estimates and assumptions and involve risks, uncertainties and other factors that could cause results or events to differ materially from those expressed in the forward-looking statements.

Important factors that could cause our actual results to differ materially from those anticipated in the forward-looking statements are described under Part I, Item 1A "Risk Factors" in the 2023 Form 10-K, in this Form 10-Q and from time to time in our other SEC reports. Readers are cautioned not to place undue reliance on forward-looking statements. We assume no obligation to update such information, which speaks only as of the date made, except as may be required by law. Investing in our securities involves a high degree of risk and uncertainty, and you should carefully consider the trends, risks and uncertainties described in the aforementioned reports and subsequent reports filed with or furnished to the SEC before making any investment decision with respect to our securities. The risk factors described herein and in our 2023 Form 10-K are not all of the risks we may face. Other risks not presently known to us or that we currently believe are immaterial may materially affect our business. If any of the trends, risks or uncertainties actually occurs or continues, our business, financial condition or operating results could be materially adversely affected, the trading prices of our securities could decline and you could lose all or part of your investment. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement.

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Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

The following table provides information regarding repurchases of our common stock during the quarter ended September 27, 2024:
Period (1)
Total Number of Shares Purchased
Average Price Paid per Share ($)
Total Number of Shares Purchased as Part of Publicly Announced Plans or ProgramsApproximate Dollar value of Shares that May Yet be Purchased Under the Plans or Programs (in millions) ($)
June 29, 2024 - July 26, 2024— — — 2,186.0 
July 27, 2024 - August 23, 20242,469,967 71.90 2,469,957 2,008.4 
August 24, 2024 - September 27, 2024298,577 75.20 298,577 1,986.0 
Total2,768,544 72.26 2,768,534 

(1) These time periods represent our fiscal month start and end dates for the third quarter of 2024.

Shares withheld to satisfy statutory tax withholding requirements related to the vesting of share-based awards are not issued or considered repurchases of our common stock under our Share Repurchase Program and, therefore, are excluded from the table above.

Share Repurchase Program

In February 2023, the Board of Directors approved a share repurchase program (the "Share Repurchase Program"), which allows for the repurchase of our common stock from time to time in privately negotiated transactions or open market transactions, including pursuant to a trading plan in accordance with Rule 10b5-1 and Rule 10b-18 of the Exchange Act, or by any combination of such methods or other methods. The Share Repurchase Program, which does not require us to purchase any minimum amount of our common stock, has an aggregate limit of $3.0 billion from February 8, 2023 through December 31, 2025 (exclusive of fees, commissions and other expenses). Any repurchases will be at the Company’s discretion and will be subject to market conditions, the price of our shares and other factors (including liquidity needs). The Share Repurchase Program may be modified, suspended or terminated by the Board of Directors at any time without prior notice.

There were 2.8 million shares of the Company's common stock repurchased under the Share Repurchase Program during the quarter ended September 27, 2024. As of September 27, 2024, the authorized amount remaining under the Share Repurchase Program was approximately $2.0 billion.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

Insider Trading Arrangements

During the quarter ended September 27, 2024, none of our directors or officers (as defined in Rule 16a-1(f) of the Exchange Act) adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement" (as those terms are defined in Item 408 of Regulation S-K).


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Table of Contents
Item 6. Exhibits

EXHIBIT INDEX
 
Exhibit No.
Exhibit Description*
31.1  
 31.2  
 32  
10.1
 101.INS  
XBRL Instance Document (1)
 101.SCH  
XBRL Taxonomy Extension Schema Document (1)
 101.CAL  
XBRL Taxonomy Extension Calculation Linkbase Document (1)
 101.DEF  
XBRL Taxonomy Extension Definition Linkbase Document (1)
 101.LAB   
XBRL Taxonomy Extension Label Linkbase Document (1)
 101.PRE  
XBRL Taxonomy Extension Presentation Linkbase Document (1)
104
Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
*
根據《交易法案》（表格10-K、表格10-Q和表格8-K）的報告已在文件編號000-30419和文件編號001-39317下提交。
†
公司已根據《S-K條例》第601(b)(2)項的規定省略了某些附表和展覽，如美國證券交易委員會要求，同意根據要求向委員會補充提供任何被省略的附表或展覽的副本。
(1)
隨此提交。
(2)
隨附。
(3)
管理合同或補償計劃、合同或安排。

39

目錄

簽名

根據證券交易法的規定，本註冊申請人已通過其代表被授權簽字的方式正式發出這份報告。
  英飛凌半導體公司
(註冊人)
    
日期：2024年10月28日由：/s/ THAD TRENT
   Thad Trent
   
執行副總裁，首席財務官和司庫
(信安金融和會計主管以及被授權簽署該報告的官員)





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