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SUPPLIER FINANCE PROGRAM | 6 Months Ended
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Jun. 30, 2024
Supplier Finance Program [Abstract] |
SUPPLIER FINANCE PROGRAM | G. SUPPLIER FINANCE PROGRAM We facilitate a voluntary supply chain finance program (the "program") to provide certain of our suppliers with the opportunity to sell receivables due from us to participating financial institutions at the sole discretion of both the suppliers and the financial institutions. A third party administers the program; our responsibility is limited to making payment on the terms originally negotiated with our supplier, regardless of whether the supplier sells its receivable to a financial institution. We do not enter into agreements with any of the participating financial institutions in connection with the program. Our current payment terms with a majority of our suppliers generally range from 45 to 90 days. The range of payment terms we negotiate with our suppliers is consistent, irrespective of whether a supplier participates in the program. All outstanding payments owed under the program are recorded within accounts payable in our condensed consolidated balance sheets. The amounts confirmed as valid under the program and included in accounts payable were $53 million at both June 30, 2024 and December 31, 2023. Of the amounts confirmed as valid under the program, the amounts owed to participating financial institutions were $21 million and $28 million at June 30, 2024 and December 31, 2023, respectively. All payments made under the program are recorded as a decrease in accounts payable and accrued liabilities, net, in our condensed consolidated statements of cash flows.

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