American Axle & Manufacturing (AXL)

Number of days of payables

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Payables turnover		7.67	7.19	6.97	7.32	7.56	6.99	6.40	6.59	8.06	1.93	1.95	1.18	2.13	8.98	17.27	10.96	10.52	8.80	7.00	6.90
Number of days of payables	days	47.59	50.76	52.34	49.89	48.26	52.20	57.00	55.37	45.31	188.66	187.02	309.79	171.36	40.66	21.13	33.30	34.71	41.48	52.16	52.91

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 7.67
= 47.59

American Axle & Manufacturing Holdings Inc's number of days of payables has shown a slight decrease in Q4 2023 compared to the previous quarter, standing at 51.78 days. This indicates that the company takes approximately 51.78 days to pay off its outstanding liabilities to suppliers.

Looking at the trend over the past year, there have been fluctuations in the number of days of payables, with the highest being in Q2 2022 at 62.99 days and the lowest in Q4 2022 at 52.56 days. The average number of days of payables over the eight quarters is approximately 56.15 days.

A lower number of days of payables suggests more efficient management of payables, potentially indicating effective cash flow management or negotiation of favorable payment terms with suppliers. Conversely, a higher number of days may signal liquidity issues or difficulties in managing working capital.

Overall, the trend in American Axle & Manufacturing Holdings Inc's number of days of payables indicates some variability but generally within a reasonable range, which should be further analyzed in conjunction with other financial metrics to assess the company's overall financial health and operational efficiency.