Supplier Finance Programs

12 Months Ended

Dec. 31, 2024

Supplier finance programs

We facilitate voluntary supplier finance programs (the “Programs”) through participating financial institutions. The Programs are available to a wide range of suppliers and allow them the option to manage their cash flow. We are not a party to the agreements between the participating financial institutions and the suppliers in connection with the Programs. The range of payment terms, typically 60-90 days, we negotiate with our suppliers is consistent, irrespective of whether a supplier participates in the Programs. The amount of obligations outstanding that are confirmed as valid to the participating financial institutions for suppliers who voluntarily participate in the Programs, included in Accounts payable in Statement 3, were $830 million and $803 million at December 31, 2024 and 2023, respectively.

The rollforward of our outstanding obligations confirmed as valid under the Programs for the year ended December 31, 2024 was as follows:


(Millions of dollars)	2024
Confirmed obligations outstanding, beginning of period	$	803
Invoices confirmed during the period	5,140
Confirmed invoices paid during the period	(5,113)
Confirmed obligations outstanding, end of period	$	830