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SUPPLY CHAIN FINANCE PROGRAM | 12 Months Ended
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Dec. 31, 2024
Payables and Accruals [Abstract] |
SUPPLY CHAIN FINANCE PROGRAM | SUPPLY C HAIN F INANCE P ROGRAM We have a supply chain finance (“SCF”) program with a major global financial institution. Under this SCF program, a qualifying supplier may elect, but is not obligated, to sell its receivables from us to such financial institution. Once a qualifying supplier elects to participate in this SCF program, all of our payments to the participating supplier are paid to such financial institution in this SCF program on the invoice due date under our agreement with such supplier, regardless of whether the individual invoice was sold by the supplier to such financial institution. We may terminate our agreement with such financial institution upon at least 30 days’ notice, and such financial institution may terminate our agreement upon at least 10 days’ notice. Additionally, suppliers who elect to participate in this SCF program may terminate their participation upon at least 30 days’ notice. The suppliers' receivables sold under this SCF program can be outstanding up to 210 days from the invoice date. Suppliers’ receivables included in this SCF program were $303.7 million and $330.2 million at December 31, 2024 and 2023, respectively, and were included in accounts payable in our Consolidated Balance Sheets. The outstanding obligations confirmed under our SCF program were as follows:
| 2024 |  | 2023
| (Dollars in thousands)
Confirmed obligations outstanding at the beginning of the year | $ | 330,153 |  |  | $ | 346,804 |
Invoices confirmed during the year | 575,592 |  |  | 583,939 |
Confirmed invoices paid during the year | (602,038) |  |  | (600,590) |
Obligations outstanding at the end of the year | $ | 303,707 |  |  | $ | 330,153 |

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