AT&T Inc (T)

Payables turnover

		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
Cost of revenue (ttm)	US$ in thousands	83,870,000	66,862,000	80,720,000	80,999,000	83,715,000	66,535,000	69,432,000	72,897,000	73,720,000	86,609,000	87,484,000	90,237,000	89,925,000	82,052,000	82,517,000	80,743,000	81,845,000	74,331,000	74,325,000	72,076,000
Payables	US$ in thousands	27,309,000	—	—	—	31,101,000	—	—	—	29,511,000	—	—	—	31,836,000	—	—	—	29,640,000	—	—	—
Payables turnover		3.07	—	—	—	2.69	—	—	—	2.50	—	—	—	2.82	—	—	—	2.76	—	—	—

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $83,870,000K ÷ $27,309,000K
= 3.07

Based on the available data, AT&T, Inc.'s payables turnover ratio for Q4 2023 stands at 1.84. This indicates that the company was able to turn over its accounts payable approximately 1.84 times during the fourth quarter of 2023. The increase in payables turnover from 1.63 in Q4 2022 to 1.84 in Q4 2023 suggests a more efficient management of accounts payable during this period. It is important to note the missing data for the other quarters of 2023, which limits a comprehensive trend analysis. Overall, a higher payables turnover ratio signifies a shorter period for the company to pay off its suppliers, potentially improving its liquidity and working capital management.