ON Semiconductor Corporation (ON)

Number of days of payables

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Payables turnover		6.02	4.99	6.34	6.18	6.52
Number of days of payables	days	60.61	73.20	57.59	59.08	55.98

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 6.02
= 60.61

ON Semiconductor Corp.'s number of days of payables fluctuated over the past five years. In 2023, the company took approximately 60.61 days, on average, to pay its outstanding payables, showing an improvement from the previous year where it took 73.20 days. However, in 2021, the number of days of payables was lower at 57.59 days compared to both 2020 (59.08 days) and 2019 (55.98 days). Overall, ON Semiconductor Corp. appears to have effectively managed its payables turnover, with minor fluctuations in the number of days required to settle its payables over the years.