Tegna Inc (TGNA)

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		19.03	25.56	27.78	24.67	28.44	25.53	24.46	24.00	28.21	44.09	53.89	45.64	33.42	31.00	49.11	31.73	31.13	23.85	24.88	26.93
Number of days of payables	days	19.18	14.28	13.14	14.79	12.83	14.30	14.92	15.21	12.94	8.28	6.77	8.00	10.92	11.78	7.43	11.50	11.72	15.31	14.67	13.55

December 31, 2023 calculation

Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 19.03
= 19.18

The number of days of payables for TEGNA Inc has shown some volatility over the past eight quarters. In Q4 2023, the company's payables were outstanding for an average of 24.41 days, compared to 18.14 days in Q3 2023, indicating a significant increase. This uptrend followed a decrease from 16.73 days in Q2 2023. Looking back further, Q1 2023 had 18.86 days of payables outstanding.

Comparing these recent figures to the same quarters in 2022, there has been a mixed pattern. Q4 2022 had 16.43 days of payables, slightly lower than Q3 2022's 18.34 days. In Q2 2022, the number of days of payables was 19.24 days, and Q1 2022 had 19.65 days.

Overall, TEGNA Inc's payables management has reflected some fluctuations in the number of days outstanding, potentially indicating varying efficiencies in managing its payment obligations to suppliers and creditors. Further analysis and comparison with industry benchmarks would be useful to better understand the company's payables performance in relation to its peers.