Group 1 Automotive Inc (GPI)

Number of days of payables

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Payables turnover		33.69	30.86	27.53	23.92	22.15
Number of days of payables	days	10.83	11.83	13.26	15.26	16.48

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 33.69
= 10.83

Group 1 Automotive, Inc.'s number of days of payables has shown a decreasing trend over the last five years, indicating a more efficient management of its accounts payable. The company took an average of 12.27 days to pay its bills in 2023 as compared to 13.44 days in 2022, 15.13 days in 2021, 17.79 days in 2020, and 18.83 days in 2019. This reduction in the number of days of payables signifies that Group 1 Automotive, Inc. is taking longer to pay its suppliers, potentially improving cash flow and working capital management. It also suggests that the company may have stronger negotiating power with suppliers or improved operational efficiencies in managing its payables. This trend indicates positive changes in the company's ability to manage its payables effectively over the years.