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Earnings Per Share and Equity - (Tables)
 9 Months Ended
Sep. 29, 2023
Earnings Per Share [Abstract]  
Summary of Earnings Per Share
Net income per share of common stock for calculating basic and diluted earnings per share is calculated as follows (in millions, except per share data):
Quarters EndedNine Months Ended
 September 29, 2023September 30, 2022September 29, 2023September 30, 2022
Net income for basic earnings per share of common stock$582.7 $311.9 $1,621.0 $1,297.9 
Add: Interest on 1.625% Notes
0.4 0.5 1.2 1.5 
Net income for diluted earnings per share of common stock$583.1 $312.4 $1,622.2 $1,299.4 
Basic weighted-average shares of common stock outstanding431.2 432.9 431.6 433.5 
Dilutive effect of share-based awards1.3 1.6 1.2 1.8 
Dilutive effect of convertible notes and warrants18.2 14.2 16.5 13.0 
Diluted weighted-average shares of common stock outstanding450.7 448.7 449.3 448.3 
Net income per share of common stock attributable to ON Semiconductor Corporation:
Basic$1.35 $0.72 $3.76 $2.99 
Diluted$1.29 $0.70 $3.61 $2.90 
Schedule of Share Repurchase Program
Activity under the Share Repurchase Program and the Company's prior share repurchase program (which expired on December 31, 2022), during the quarters and nine months ended September 29, 2023 and September 30, 2022, respectively, was as follows (in millions, except per share data):
Quarters EndedNine Months Ended
 September 29, 2023September 30, 2022September 29, 2023September 30, 2022
Number of repurchased shares (1)1.1 1.2 3.1 2.7 
Aggregate purchase price$100.0 $80.1 $264.0 $169.8 
Fees, commissions and excise tax0.8 — 1.2 — 
Total$100.8 $80.1 $265.2 $169.8 
Weighted-average purchase price per share (2)$94.48 $67.00 $85.84 $59.76 

(1) None of these shares had been reissued or retired as of September 29, 2023 but may be reissued later.
(2) Exclusive of fees, commissions or other expenses.