3M Company (MMM)

Number of days of payables

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Payables turnover		5.43	5.39	5.18	4.37	5.71	5.36	5.46	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
Number of days of payables	days	67.20	67.70	70.48	83.59	63.92	68.08	66.80	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

December 31, 2024 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 5.43
= 67.20

The number of days of payables for 3M Company has shown some fluctuations over the past few years, ranging from 43.88 days to 83.59 days. The trend indicates that the number of days of payables has been increasing overall since March 31, 2020. This suggests that 3M Company is taking longer to pay its suppliers, which can be indicative of a cash flow management strategy or changes in the company's payment terms. The increase in the number of days of payables can also be a sign of potentially stretched supplier relationships or delays in payments.

It is important for stakeholders to monitor this metric as an increasing number of days of payables can impact the company's working capital management and relationships with suppliers. Additionally, a significant increase in the number of days of payables may raise concerns about the company's financial health and liquidity position. Further analysis and comparison with industry benchmarks or historical data can provide additional insights into 3M Company's payables management and financial performance.