On Semiconductor Corporation
ON Semiconductor Announces $600M to $700M Impairment Charge for Restructuring
Summary
On March 17, 2025, ON Semiconductor Corporation announced a pre-tax non-cash impairment charge of between $600 million and $700 million for long-lived assets, primarily manufacturing equipment, due to its restructuring plan aimed at realigning manufacturing capacity with anticipated long-term needs. This action is expected to reduce depreciation expense by $30 million to $35 million in 2025. The impairment charge is non-cash and does not anticipate material future cash expenditures.
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About On Semiconductor Corporation
On Semiconductor Corporation, commonly known as onsemi, is a leading semiconductor supplier focused on complete intelligent sensing and energy-efficient solutions. The company provides innovative and reliable products that improve energy efficiency and enable the latest green technologies. onsemi's portfolio includes power management, analog, sensors, connectivity, custom, and system-on-chip (SoC) solutions. It serves a variety of markets, such as automotive, industrial, communications, and consumer electronics. The primary function of onsemi is to enhance the performance and efficiency of electronic products used in everyday life and in critical applications ranging from smart grids to advanced driver-assistance systems (ADAS). With a strong emphasis on research and development, onsemi is dedicated to driving advancements in technology that facilitate cleaner energy consumption and smarter electronic systems. Within the financial markets, onsemi plays a significant role given its strategic position in key growth sectors like electric vehicles and smart infrastructure. By leveraging cutting-edge technologies, the corporation continually contributes to the advancement of semiconductor technologies, reinforcing its relevance as a pivotal entity in the evolving landscape of global electronics and electrification initiatives.
Official SEC Documents
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