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Accounts Payable and Accrued Expenses
3 Months Ended
Mar. 31, 2023
Payables and Accruals [Abstract]  
Accounts Payable and Accrued Expenses
13.
Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consist of the following:

 

March 31,

 

 

 

December 31,

 

 

2023

 

 

 

2022

 

Trade accounts payable

$

651.5

 

 

 

$

666.7

 

Accrued marketing and promotion costs

 

211.8

 

 

 

 

234.4

 

Accrued wages and related benefit costs

 

47.4

 

 

 

 

66.8

 

Other accrued current liabilities

 

139.1

 

 

 

 

134.9

 

Total

$

1,049.8

 

 

 

$

1,102.8

 

 

In 2015, the Company initiated a Supply Chain Finance program (“SCF Program”). Under the SCF Program, qualifying suppliers may elect to sell their receivables from the Company for early payment. Participating suppliers negotiate their receivables sales arrangements directly with a third party. The Company is not party to those agreements and do not have an economic interest in the suppliers' decisions to sell their receivables and has not been required to pledge any assets as security nor to provide any guarantee to third-party finance providers or intermediaries. The SCF Program may allow suppliers more favorable terms than they could secure on their own. The terms of the Company's payment obligations are not impacted by a supplier’s participation in the SCF Program. The Company's payment terms with suppliers are consistent between suppliers that elect to participate in the SCF Program and those that do not participate. As a result, the program does not have an impact to the Company's average days outstanding.

As of March 31, 2023, the obligations outstanding related to the SCF program amount to $88.3, recorded within Accounts Payable in the Consolidated Balance Sheets and $103.6 payments included in operating activities within the Company's Consolidated Statements of Cash Flows.