ON Semiconductor Reports First Quarter 2015 Results

(1)Amounts have been revised; for additional information about the revisions to prior periods, see our 2014 Form 10-K and our first quarter 2015 Form 10-Q to be filed on or around May 4, 2015.


ON SEMICONDUCTOR CORPORATION AND SUBSIDIARIES
UNAUDITED CONSOLIDATED BALANCE SHEET
(in millions)

	April 3, 2015			December 31, 2014(1)			March 28, 2014(2)
Assets
Cash and cash equivalents	$	428.1		$	511.7		$	562.0
Short-term investments	1.3			6.1			55.0
Receivables, net	454.5			417.5			417.1
Inventories	746.9			729.9			608.3
Other current assets	128.1			140.6			89.3
Total current assets	1,758.9			1,805.8			1,731.7
Property, plant and equipment, net	1,208.4			1,203.9			1,081.4
Goodwill	263.8			263.8			184.6
Intangible assets, net	424.6			458.5			215.3
Other assets	90.6			91.0			108.0
Total assets	$	3,746.3		$	3,823.0		$	3,321.0
Liabilities, Non-Controlling Interest and Stockholders’ Equity
Accounts payable	$	362.5		$	378.2		$	276.7
Accrued expenses	282.6			287.9			222.1
Deferred income on sales to distributors	156.0			165.1			151.7
Current portion of long-term debt	212.6			209.6			173.7
Total current liabilities	1,013.7			1,040.8			824.2
Long-term debt	950.2			983.0			746.5
Other long-term liabilities	155.2			151.8			176.3
Total liabilities	2,119.1			2,175.6			1,747.0
ON Semiconductor Corporation stockholders’ equity:
Common stock	5.3			5.2			5.2
Additional paid-in capital	3,317.6			3,281.2			3,228.9
Accumulated other comprehensive loss	(45.8		)	(41.5		)	(46.4		)
Accumulated deficit	(860.5		)	(915.6		)	(1,049.6		)
Less: treasury stock, at cost	(811.0		)	(702.8		)	(597.1		)
Total ON Semiconductor Corporation stockholders’ equity	1,605.6			1,626.5			1,541.0
Non-controlling interest in consolidated subsidiary	21.6			20.9			33.0
Total stockholders' equity	1,627.2			1,647.4			1,574.0
Total liabilities and equity	$	3,746.3		$	3,823.0		$	3,321.0

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