KAR Auction Services Inc (KAR)

Number of days of payables

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Payables turnover		3.03	2.50	2.55	2.96	3.48
Number of days of payables	days	120.33	146.24	143.27	123.19	104.89

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 3.03
= 120.33

The number of days of payables for Openlane Inc. has fluctuated over the past five years. In 2023, the company took approximately 234.16 days to pay its trade payables, showing a decrease compared to the previous year where it took 241.15 days. This suggests that in 2023, Openlane Inc. improved its efficiency in settling its payables.

Looking back further, in 2021, the number of days of payables increased significantly to 287.39 days, indicating that the company took longer to pay its trade obligations during that period. The trend continued in 2020 when the number of days of payables decreased to 195.71 days, showing a possible effort to accelerate payments.

In 2019, the company exhibited the lowest number of days of payables at 159.04 days, signifying a relatively prompt settlement of trade payables during that year.

Overall, Openlane Inc.'s number of days of payables has shown variability, with fluctuations potentially reflecting changes in the company's payment policies, supplier relationships, and overall financial performance.