Occidental Petroleum Corporation (OXY)

Number of days of payables

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Payables turnover		1.35	1.16	1.07	1.30	1.39
Number of days of payables	days	269.39	313.96	340.06	281.72	262.01

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 1.35
= 269.39

The number of days of payables for Occidental Petroleum Corp. has shown a fluctuating trend over the past five years. The company took an average of 427.08 days to pay its suppliers at the end of December 2023, a slight improvement from the previous year's figure of 449.31 days. This indicates that the company is managing its payables more efficiently compared to the prior year.

Looking back to December 2021, the number of days of payables was 513.40 days, showing a significant decrease in the time it takes for the company to settle its payables. In December 2020, this metric was at 452.76 days, which was relatively consistent with the current figure.

However, the number of days of payables was exceptionally high at 917.67 days at the end of December 2019, indicating a prolonged period before Occidental Petroleum Corp. paid its suppliers. This could have been due to various factors, such as changes in payment terms or liquidity constraints.

Overall, the decreasing trend in the number of days of payables in recent years suggests that Occidental Petroleum Corp. has been successful in improving its efficiency in managing its payables, which can positively impact its working capital management and overall financial health.