3M Company (MMM)

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		5.69	5.92	5.74	6.08	6.04	6.32	5.95	6.04	6.28	6.46	6.12	6.37	6.48	7.49	8.32	7.67	7.69	8.11	7.91	7.26
Number of days of payables	days	64.10	61.63	63.64	60.07	60.41	57.79	61.36	60.48	58.14	56.51	59.65	57.26	56.29	48.72	43.88	47.57	47.46	44.98	46.16	50.30

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 5.69
= 64.10

The number of days of payables for 3M Co. has shown some fluctuations over the past eight quarters. In Q4 2023, it stood at 64.10 days, representing an increase compared to the previous quarter at 61.63 days. This suggests that the company took slightly longer to pay off its outstanding liabilities to suppliers during the most recent period.

Looking back at the trend, there seems to have been some variability in the number of days of payables over the quarters, with some periods showing an upward trajectory and others displaying a downward trend. This indicates potential changes in the company's payment policies or practices over time.

On average, the number of days of payables ranged between approximately 57.79 days to 64.10 days, reflecting fluctuations in how long it takes for 3M Co. to settle its accounts payable obligations. This metric is important as it can provide insights into the company's liquidity management and supplier relationships.

Analyzing the historical data helps in understanding the company's payment dynamics and evaluating its efficiency in managing its payables. Further investigation into the factors driving these fluctuations could provide valuable insights into 3M Co.'s financial health and operational performance.