Otter Tail Corporation (OTTR)

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		5.49	4.33	4.49	5.37	5.21	4.71	4.28	4.56	2.89	1.93	0.97	0.05	0.04	0.03	0.04	0.07	0.05	0.16	0.13	0.14
Number of days of payables	days	66.48	84.33	81.33	67.94	70.05	77.49	85.32	80.09	126.32	189.39	374.44	7,117.03	8,543.68	12,904.64	8,722.43	5,397.22	7,447.69	2,290.00	2,836.02	2,674.71

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 5.49
= 66.48

Otter Tail Corporation's number of days of payables has shown some fluctuations over the past eight quarters. In Q4 2023, the company had an average payment period of 58.15 days, indicating that it took, on average, 58.15 days to settle its outstanding payables. This was a decrease compared to the previous quarter, Q3 2023, where the average payment period was 62.65 days.

Looking at the trend over the past year, there have been variations in the number of days of payables, with the highest number recorded in Q2 2022 at 63.43 days and the lowest in Q1 2023 at 49.71 days.

Overall, fluctuations in the number of days of payables can indicate changes in the company's payment practices and relationships with suppliers. It is essential to consider the reasons behind these fluctuations and analyze how they may impact Otter Tail Corporation's cash flow management and working capital efficiency.