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Supply Chain Financing | 12 Months Ended
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Dec. 31, 2024
Payables and Accruals [Abstract] |
Supply Chain Financing | Supply Chain Financing We utilize voluntary supply chain finance programs to support our efforts in negotiating payment term extensions with suppliers as part of our effort to improve our operating cash flows. These programs provide participating suppliers the opportunity to sell their LKQ receivables to financial institutions at the sole discretion of both the suppliers and the financial institutions. We are not a party to the agreement between the suppliers and financial institutions. The financial institutions participate in the supply chain financing initiative on an uncommitted basis and can cease purchasing receivables from our suppliers at any time. Our obligation to our suppliers, including amount due and payment date, are not impacted by the supplier’s decision to sell amounts under these agreements. Our payment terms to the financial institutions, including the timing and amount of payments, are unchanged from the original supplier invoice. All outstanding payments owed under the supply chain finance programs with the participating financial institutions are recorded within Accounts payable on our Consolidated Balance Sheets. As of December 31, 2024 and 2023, we had $416 million and $411 million of Accounts payable outstanding under the arrangements, respectively. A rollforward of obligations confirmed and paid during the year is as follows (in millions):
| 2024 |  |
Balance as of January 1, | $ | 411 |  |  |  |  |
Invoices confirmed during the year | 871 |  |  |  |  |
Confirmed invoices paid during the year | (840) |  |  |  |  |
Impact of foreign currency | (26) |  |  |  |  |
Balance as of December 31, | $ | 416 |  |  |  |  |

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