Accounts Payable and Accrued Expenses

9 Months Ended

Sep. 30, 2023

Payables and Accruals [Abstract]

Accounts Payable, Accrued and Other Liabilities

13.Accounts Payable, Accrued and Other Liabilities

Accounts payable, accrued and other liabilities consist of the following:

	September 30,		December 31,
	2023		2022
Trade accounts payable	$	691.8	$	666.7
Accrued marketing and promotion costs		232.3		234.4
Accrued wages and related benefit costs		114.8		66.8
Other accrued current liabilities		138.8		134.9
Total	$	1,177.7	$	1,102.8

In 2015, the Company initiated a Supply Chain Finance program (“SCF Program”). Under the SCF Program, qualifying suppliers may elect to sell their receivables from the Company for early payment. Participating suppliers negotiate their receivables sales arrangements directly with a third party. The Company is not party to those agreements and do not have an economic interest in the suppliers' decisions to sell their receivables and has not been required to pledge any assets as security nor to provide any guarantee to third-party finance providers or intermediaries. The SCF Program may allow suppliers to obtain more favorable terms than they could secure on their own. The terms of the Company's payment obligations are not impacted by a supplier’s participation in the SCF Program. The Company's payment terms with suppliers are consistent between suppliers that elect to participate in the SCF Program and those that do not participate. As a result, the program does not have an impact to the Company's average days outstanding.

As of September 30, 2023, the obligations outstanding related to the SCF program amount to $88.6, recorded within Accounts Payable in the condensed consolidated balance sheets and $277.9 payments included in operating activities within the Company's condensed consolidated statements of cash flows.