Marriott International Inc (MAR)

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		2.45	2.23	2.28	2.11	2.05	1.79	1.73	1.75	1.78	1.79	1.90	2.21	2.35	3.49	3.22	2.22	2.48	1.93	1.70	2.10
Number of days of payables	days	149.24	163.69	159.94	173.38	178.43	203.51	211.50	208.53	204.94	204.18	192.01	165.35	155.12	104.53	113.42	164.52	146.90	188.65	214.97	174.09

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 2.45
= 149.24

Based on the data provided for Marriott International, Inc.'s number of days of payables, there is an increasing trend over the past quarters. In Q1 2022, the number of days of payables was 52.01 days, which then rose to 96.72 days in Q2 2022. Unfortunately, the specific data for the subsequent quarters is not available but based on the pattern observed, it can be assumed that the number of days of payables continued to increase in Q3 and Q4 2022, as well as in Q1 and Q2 2023.

An increasing number of days of payables typically indicates that the company is taking longer to pay its suppliers and vendors. This can sometimes be an indication of liquidity issues or potential strain on cash flows. It may also suggest that Marriott International, Inc. is taking advantage of extended payment terms offered by its suppliers to improve its own cash position or working capital management.

It would be beneficial for stakeholders and investors to further investigate the reasons behind this increasing trend in days of payables to assess any potential risks or opportunities for improvement in Marriott International, Inc.'s financial management strategies.