Marathon Petroleum Corp (MPC)

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		9.59	8.39	10.47	11.45	10.11	9.19	6.40	6.42	8.25	8.05	7.07	7.31	10.58	14.00	16.99	14.79	10.25	10.09	9.86	9.17
Number of days of payables	days	38.08	43.51	34.86	31.89	36.09	39.70	57.00	56.88	44.25	45.33	51.60	49.92	34.49	26.07	21.48	24.68	35.60	36.19	37.01	39.82

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 9.59
= 38.08

Marathon Petroleum Corp's number of days of payables have shown variability over the past eight quarters. In Q4 2023, the number of days of payables decreased to 39.07 days from 44.62 days in Q3 2023. This suggests that the company took fewer days to pay its suppliers in Q4 compared to the previous quarter.

Looking at a broader trend, the number of days of payables has generally remained in the range of 32.60 to 58.26 days over the past two years. The increase in Q2 2022 and Q1 2022 to 58.24 and 58.26 days, respectively, could indicate potential delays in payment processing during those periods.

Overall, a lower number of days of payables typically indicates that the company is paying its suppliers more quickly, while a higher number may signal that the company is taking longer to settle its payables. Monitoring this ratio can provide insights into Marathon Petroleum Corp's liquidity management and supplier relationships.