SUPPLIER FINANCE PROGRAMS

12 Months Ended

Dec. 31, 2024

Supplier Finance Programs

Supplier Finance Programs

NOTE 9 – SUPPLIER FINANCE PROGRAMS

The Company has established and maintains supplier finance programs with certain third-party financial institutions, which allow participating merchandise suppliers to voluntarily elect to assign the Company’s payment obligations due to these merchandise suppliers to one of the designated third-party institutions.  Under these supplier finance programs, the Company has agreed to pay the third-party financial institutions the stated amount of confirmed merchandise supplier invoices on the original maturity dates of the invoices, which are generally for a term of one year.  The Company does not have any assets pledged as security or other forms of guarantees for the committed payment to the third-party institutions.  As of December 31, 2024, and 2023, the Company had obligations outstanding under these programs for invoices that were confirmed as valid to the third-party financial institutions in the amounts of $4.8 billion and $4.4 billion, respectively, which were included as a component of “Accounts payable” on the accompanying Consolidated Balance Sheets.

The following table identifies the changes in the outstanding obligations of the Company’s supplier finance programs for the year ended December 31, 2024 (in thousands):

	2024
Obligations outstanding, balance at January 1,	$	4,423,008
Invoices added		5,338,154
Invoices paid		(4,953,732)
Obligations outstanding, balance at December 31,	$	4,807,430