Payables and Accruals

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Supplier Finance Program

SUPPLIER FINANCING ARRANGEMENTS

The Company has an agreement with a U.S. financial institution that allows its suppliers to sell their receivables to the financial institution at the sole discretion of both the supplier and the financial institution on terms that are negotiated between them. The Company may not always be notified when its suppliers sell receivables under this program.

The Company’s obligations to its suppliers, including the amounts due and scheduled payment dates, are not impacted by the suppliers’ decisions to sell their receivables under the program. Outstanding invoices under the supplier financing program were $246.0 million and $247.2 million at December 31, 2023 and December 31, 2022, respectively, which are included within Accounts payable in the Consolidated Balance Sheets.