Kinder Morgan Inc (KMI)

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		4.31	4.58	6.89	8.80	7.09	7.52	6.34	7.46	7.23	5.31	5.68	5.06	4.24	4.35	5.01	5.11	4.54	4.97	5.47	5.82
Number of days of payables	days	84.71	79.61	52.98	41.49	51.51	48.57	57.57	48.93	50.52	68.68	64.22	72.19	86.18	83.93	72.90	71.42	80.39	73.48	66.73	62.73

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 4.31
= 84.71

To analyze Kinder Morgan Inc's number of days of payables based on the provided data, we observe a trend where the number of days of payables has fluctuated over the past eight quarters. In Q1 2023, the number of days of payables was 46.26 days, significantly lower than in Q4 2022 when it was 56.95 days. This decrease suggests that the company took less time to pay its suppliers in Q1 2023.

Furthermore, there was a substantial increase in the number of days of payables in Q2 2023, reaching 60.73 days, indicating a possible extension in payment terms or a slower pace of paying suppliers during that quarter. This trend continued into Q3 2023 and Q4 2023, with the number of days of payables further increasing to 94.01 days and 100.97 days, respectively.

Comparing the data from Q1 2022 to Q1 2023, there has been a notable shift from 68.90 days to 46.26 days in the number of days of payables, signifying a more efficient handling of payables during this period.

Overall, the fluctuations in Kinder Morgan Inc's number of days of payables demonstrate variations in the company's payment practices and cash management strategies over the past eight quarters. It is essential to monitor these changes and understand their implications for the company's liquidity, working capital management, and relationships with suppliers.