Standard Motor Products Inc (SMP)

Number of days of payables

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Payables turnover		11.86	14.30	8.59	10.28	11.36
Number of days of payables	days	30.78	25.52	42.48	35.52	32.12

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 11.86
= 30.78

Standard Motor Products, Inc.'s number of days of payables has fluctuated over the past five years. In 2023, the company took approximately 40.46 days to pay its payables, which represents an increase compared to the previous year. In 2022, the number of days decreased to 32.93 days, indicating that the company managed to pay its creditors more promptly. However, in 2021, there was a significant increase to 54.31 days, suggesting that the company took longer to settle its payables during that period. The number of days in 2020 and 2019 were 46.10 and 41.90 days, respectively, showing some stability in the payment period during those years. Overall, the trend in the number of days of payables indicates variability in the company's payment practices, which could be influenced by factors such as cash flow management and supplier relationships.