Integra LifeSciences Holdings (IART)

Payables turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	1,449,370	1,335,850	1,374,810	1,274,460	1,285,670
Payables	US$ in thousands	92,326	102,100	61,837	54,608	113,090
Payables turnover		15.70	13.08	22.23	23.34	11.37

December 31, 2023 calculation

Payables turnover = Cost of revenue ÷ Payables
= $1,449,370K ÷ $92,326K
= 15.70

Integra Lifesciences Holdings Corp's payables turnover has exhibited variability over the past five years. The company's payables turnover ratio was 7.11 in 2023, indicating that the company paid off its accounts payable approximately 7.11 times during the year. This represents an improvement compared to the previous year's ratio of 5.75 in 2022.

In 2021, the payables turnover ratio was 9.67, reflecting a significant increase from the prior year. This may suggest that the company was more efficient in managing its payables and settling its obligations during that period.

Similarly, in 2020 and 2019, the payables turnover ratios were 9.54 and 4.99, respectively. The decrease in 2019 compared to 2020 indicates a potential inefficiency in managing payables that year.

Overall, the trend in Integra Lifesciences' payables turnover ratios shows some fluctuations, with varying levels of efficiency in managing and paying off accounts payable over the five-year period. It is important for stakeholders to further analyze the company's payables management practices to understand the underlying reasons for these fluctuations.