onsemi to take $600M-$700M non-cash impairment charges on manufacturing equipment
ON Semiconductor disclosed that on March 17, 2025, management approved pre-tax non-cash impairment charges of between $600 million and $700 million on long-lived manufacturing equipment, as part of a restructuring plan announced February 24, 2025. The company says the charges will reduce 2025 depreciation expense by $30 million to $35 million and do not are expected to require material future cash spending, though actual amounts may differ.
- Pre-tax non-cash impairment charges of between $600 million and $700 million approved March 17, 2025
- Charges relate to manufacturing equipment at certain facilities, treated as held for sale
- Estimated 2025 depreciation expense reduction of $30 million to $35 million
- Most charges expected in the first two quarters of 2025