Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

ON Semiconductor Corp., consolidated balance sheet: assets (quarterly data)

US$ in thousands

	Mar 29, 2024	Dec 31, 2023	Sep 29, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jul 1, 2022	Apr 1, 2022	Dec 31, 2021	Oct 1, 2021	Jul 2, 2021	Apr 2, 2021	Dec 31, 2020	Oct 2, 2020	Jul 3, 2020	Apr 3, 2020	Dec 31, 2019	Sep 27, 2019	Jun 28, 2019	Mar 29, 2019
Cash and cash equivalents	2,614,400)	2,483,000)	2,679,200)	2,622,200)	2,702,400)	2,919,000)	2,450,200)	1,791,600)	1,645,100)	1,352,600)	1,389,200)	1,091,100)	1,042,500)	1,080,700)	1,654,000)	2,060,400)	1,982,000)	894,200)	928,700)	885,200)	939,600)
Receivables, net	873,300)	935,400)	958,200)	944,400)	880,900)	842,300)	857,300)	1,138,100)	910,700)	809,400)	720,000)	669,100)	683,600)	676,000)	728,100)	667,400)	652,000)	705,000)	716,600)	713,200)	704,000)
Inventories	2,147,100)	2,111,800)	2,084,800)	1,964,400)	1,814,900)	1,616,800)	1,575,400)	1,563,200)	1,496,000)	1,379,500)	1,327,600)	1,309,300)	1,295,500)	1,251,400)	1,281,200)	1,285,400)	1,251,900)	1,232,400)	1,240,700)	1,273,800)	1,225,200)
Assets held-for-sale	—)	—)	—)	—)	—)	—)	135,000)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other current assets	514,100)	382,100)	363,200)	399,200)	318,100)	351,300)	291,500)	292,400)	315,600)	240,100)	205,000)	160,400)	166,000)	176,000)	149,300)	131,200)	146,400)	188,400)	187,000)	192,000)	177,900)
Current assets	6,148,900)	5,912,300)	6,085,400)	5,930,200)	5,716,300)	5,729,400)	5,309,400)	4,785,300)	4,367,400)	3,781,600)	3,641,800)	3,229,900)	3,187,600)	3,184,100)	3,812,600)	4,144,400)	4,032,300)	3,020,000)	3,073,000)	3,064,200)	3,046,700)
Property, plant and equipment, net	4,384,300)	4,401,500)	4,314,500)	3,991,400)	3,692,900)	3,450,700)	2,762,100)	2,709,800)	2,559,400)	2,524,300)	2,427,800)	2,457,800)	2,489,400)	2,512,300)	2,511,800)	2,566,500)	2,579,900)	2,591,600)	2,602,100)	2,620,000)	2,585,000)
ROU financing lease assets	41,800)	42,400)	43,000)	44,600)	45,200)	45,800)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Property, plant and equipment and ROU financing lease assets, net	4,426,100)	4,443,900)	4,357,500)	4,036,000)	3,738,100)	3,496,500)	2,762,100)	2,709,800)	2,559,400)	2,524,300)	2,427,800)	2,457,800)	2,489,400)	2,512,300)	2,511,800)	2,566,500)	2,579,900)	2,591,600)	2,602,100)	2,620,000)	2,585,000)
Goodwill	1,577,600)	1,577,600)	1,577,600)	1,577,600)	1,577,600)	1,577,600)	1,600,400)	1,815,400)	1,936,700)	1,937,500)	1,662,700)	1,663,400)	1,663,400)	1,663,400)	1,663,400)	1,663,400)	1,663,400)	1,659,200)	1,659,200)	1,552,500)	932,500)
Intangible assets, net	289,400)	299,300)	312,800)	326,300)	339,800)	359,700)	373,800)	452,600)	474,500)	495,700)	390,300)	416,300)	441,100)	469,000)	498,200)	527,800)	558,200)	590,500)	622,600)	778,000)	539,500)
Deferred tax assets	648,400)	600,800)	579,300)	502,400)	473,100)	376,700)	409,900)	375,700)	349,300)	366,300)	382,100)	429,900)	447,200)	429,000)	461,600)	325,200)	331,000)	307,800)	291,500)	242,000)	238,200)
Other assets	392,500)	381,300)	368,700)	390,200)	429,400)	438,600)	645,100)	649,900)	525,100)	520,600)	436,000)	397,100)	401,700)	410,200)	306,400)	300,500)	256,000)	256,400)	273,900)	267,800)	222,400)
Non-current assets	7,334,000)	7,302,900)	7,195,900)	6,832,500)	6,558,000)	6,249,100)	5,791,300)	6,003,400)	5,845,000)	5,844,400)	5,298,900)	5,364,500)	5,442,800)	5,483,900)	5,441,400)	5,383,400)	5,388,500)	5,405,500)	5,449,300)	5,460,300)	4,517,600)
Total assets	13,482,900)	13,215,200)	13,281,300)	12,762,700)	12,274,300)	11,978,500)	11,100,700)	10,788,700)	10,212,400)	9,626,000)	8,940,700)	8,594,400)	8,630,400)	8,668,000)	9,254,000)	9,527,800)	9,420,800)	8,425,500)	8,522,300)	8,524,500)	7,564,300)

Cash and cash equivalents: The cash position experienced considerable fluctuations over the periods. It started near $940 million in March 2019 and peaked significantly at approximately $2 billion in April 2020. After this peak, the amount declined but remained above $1 billion through the end of 2021. From 2022 onwards, cash and equivalents demonstrated strong growth, reaching approximately $2.9 billion by December 2022 before stabilizing around $2.5 to $2.6 billion in early 2024.
Receivables, net: Receivables showed a generally stable trend fluctuating around $700 million to $800 million until mid-2021, followed by an upward movement reaching over $1.1 billion by mid-2022. Subsequent quarters showed variability, with receivables declining to about $873 million by the first quarter of 2024, indicating some reduction in outstanding customer balances.
Inventories: Inventories steadily increased during the entire period, starting at roughly $1.2 billion in early 2019 and almost doubling to over $2.1 billion by the first quarter of 2024. The growth was consistent, with particularly notable acceleration beginning in 2022, which may suggest increased stockpiling or buildup to meet anticipated demand.
Assets held-for-sale: This category appears only once with a value of $135 million in December 2022, indicating a one-time classification of assets possibly intended for disposal. No other periods reported values for this item.
Other current assets: Other current assets experienced fluctuating trends, with an initial rise from about $178 million in March 2019 to $351 million in December 2022. Despite some fluctuations, the overall trend points to increasing diversification or accumulation of liquid or short-term assets, ending with a sharp rise to approximately $514 million by March 2024.
Current assets: Current assets saw a significant increase from around $3 billion in early 2019 to about $6.1 billion by March 2024. The most rapid growth occurred between early 2020 and the end of 2022, driven mainly by sharp increases in cash, inventories, and other current asset categories, indicating an expanding short-term asset base and liquidity.
Property, plant and equipment, net: Property, plant, and equipment (PP&E) remained relatively stable around $2.5 billion until 2021, after which a notable increase occurred from about $2.7 billion to $4.4 billion by the end of 2023. This growth suggests significant capital investment in fixed assets, supporting potential expansion or modernization efforts.
ROU financing lease assets: These assets are reported only from late 2022 onward, showing a gradual decline from $45.8 million to approximately $41.8 million by March 2024, possibly reflecting lease expirations or reductions in leased asset holdings.
Property, plant and equipment and ROU financing lease assets, net: This combined measure followed a similar trend to PP&E alone, rising substantially in 2022 and beyond to about $4.4 billion by early 2024, reinforcing the insight of increased capital investment in physical and leased assets.
Goodwill: Goodwill values increased sharply from $932.5 million in March 2019 to $1.65 billion by September 2019, reflecting acquisitions or business combinations undertaken during that period. It remained largely stable thereafter, with a peak of $1.94 billion in late 2021 followed by a decline to about $1.58 billion from early 2022 through the first quarter of 2024, indicating possible impairment or divestiture activities.
Intangible assets, net: Intangible assets showed a declining trend from $539.5 million in early 2019 to $289.4 million by March 2024. There was a brief increase to $495.7 million in late 2021, followed by a steady decrease again, pointing to amortization or asset write-offs over time.
Deferred tax assets: Deferred tax assets increased consistently over the period, from about $238 million in early 2019 to nearly $648 million by the first quarter of 2024. This is indicative of growing future tax benefits arising from temporary differences and operating losses carried forward.
Other assets: Other assets fluctuated, with values rising from about $222 million in early 2019 to a peak of nearly $650 million in mid-2022, then declining to the $390 million range in late 2023 and early 2024. This variability may be due to one-time asset reclassifications or changes in long-term investments.
Non-current assets: Non-current assets, including PP&E, goodwill, intangibles, and other long-term items, grew steadily from approximately $4.5 billion in 2019 to about $7.3 billion by March 2024. The consistent increase indicates considerable investment in long-term asset growth and business expansion.
Total assets: Total assets increased from about $7.6 billion in early 2019 to around $13.5 billion by the first quarter of 2024. The growth was strong and steady, with notable acceleration post-2020, supported by increases in both current and non-current asset categories, reflecting overall company expansion and asset accumulation.

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ON Semiconductor Corp. (NASDAQ:ON)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data