Supply Chain Financing Program

12 Months Ended

Dec. 31, 2024

We facilitate a voluntary supply chain financing program to provide some of our suppliers with the opportunity to sell receivables due from us (our accounts payables) to participating financial institutions at the sole discretion of both the suppliers

and the financial institutions. This program is administered by participating financial institutions. When a supplier utilizes the supply chain financing program, the supplier receives a payment from the financial institution in advance of our agreed payment terms, net of a discount charged. Our responsibility is limited to making payments to the respective financial institutions on the terms originally negotiated with our supplier. No assets are pledged as collateral by the Company or any of our subsidiaries under the program. The majority of suppliers using the program are on 120 day payment terms after the end of the month in which the invoice was issued. We monitor our days payable outstanding relative to our peers and industry trends in order to assess our conclusion that the program continues to be a trade payable program and not indicative of a borrowing arrangement. The liabilities continue to be presented as Accounts payable in our Consolidated Balance Sheets until they are paid, and they are reflected as Cash flows from operating activities when settled.

The Company’s outstanding obligations confirmed as valid under our supply chain financing program for year ended December 31, 2024 was as follows:


	December 31,
	2024
Obligations outstanding at the beginning of the year	$	153.0
Invoices confirmed during the year	478.8
Confirmed invoices paid during the year	(469.5)
Currency impact	(1.2)
Obligations outstanding at the end of the year	$	161.1