Eastman Chemical Company (EMN)

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		4.96	—	—	—	5.25	5.11	5.05	5.04	5.27	5.10	5.02	5.11	6.18	7.17	8.70	6.63	6.02	6.13	5.67	5.70
Number of days of payables	days	73.52	—	—	—	69.47	71.42	72.30	72.40	69.24	71.63	72.75	71.41	59.04	50.91	41.93	55.04	60.67	59.53	64.42	64.07

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 4.96
= 73.52

The number of days of payables for Eastman Chemical Co has shown some fluctuations over the past eight quarters. In Q4 2023, the company had 59.74 days of payables, indicating that it takes approximately 59.74 days for the company to pay its suppliers on average. This represents a significant decrease from the previous quarter, Q3 2023, where the number of days of payables was 95.65 days.

Comparing Q4 2023 to the same quarter in the previous year, Q4 2022, we see an increase in the number of days of payables from 57.02 days to 59.74 days. This suggests that in Q4 2023, Eastman Chemical Co took slightly longer to pay its suppliers compared to the same quarter in the previous year.

Overall, the average number of days of payables over the past eight quarters is around 68.61 days. The trend in the number of days of payables indicates some variability in the company's payment practices, which may be influenced by factors such as changes in supplier terms or cash flow management strategies. Further analysis and context would be needed to fully understand the implications of these fluctuations on Eastman Chemical Co's financial performance and working capital management.