Supplier Finance Program Obligations

6 Months Ended

Jun. 30, 2024

Payables and Accruals [Abstract]

Supplier Finance Program Obligations

Supplier Finance Program Obligations

The Company has various supplier finance programs under which the Company agrees to pay banks the stated amount of confirmed invoices from its designated suppliers on the original maturity dates of the invoices. Suppliers, at their sole discretion, have the opportunity to sell their receivables due from the Company earlier than contracted payment terms. The Company or the banks may terminate the agreements upon at least 30 days' notice. The Company does not have assets pledged as collateral for supplier finance programs. The supplier invoices that have been confirmed as valid under the programs typically have payment terms of 150 days or less, consistent with the commercial terms and conditions as agreed upon with suppliers. The Company had $783 and $862 confirmed obligations outstanding under these supplier finance programs as of June 30, 2024 and December 31, 2023 included in Accounts Payable.