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Calculate days' sales outstanding: Short-Term Solvency 2022 2021 Change Current ratio1.201.53-0.33Quick ratio0.180.60-0.42Cash ratio0.050.48-0.43 Asset Management 2022 2021 Change Inventory turnover3.593.73-0.14Days sales' in inventory101.6097.883.72Payables turnover8.616.801.82Days' payable42.3753.71-11.34Asset

Calculate days' sales outstanding:

Short-Term Solvency20222021ChangeCurrent ratio1.201.53-0.33Quick ratio0.180.60-0.42Cash ratio0.050.48-0.43

Asset Management20222021ChangeInventory turnover3.593.73-0.14Days sales' in inventory101.6097.883.72Payables turnover8.616.801.82Days' payable42.3753.71-11.34Asset turnover1.201.23-0.03Capital intensity0.840.820.02

Liabilities and Shareholders' Equity Current liabilities: Accounts payable$1,330$1,683-$353-21.0%Accrued liabilities1,2201,340-120-9.0%Borrowings under revolving credit facility850850.0%Current portion of: Long-term debt2750275100.0%Finance leases and financing obligations94118-24-20.3%Operating leases111145-34-23.4%Total current liabilities3,1153,286-171-5.2%Long-term debt1,6371,910-273-14.3%Finance leases and financing obligations2,7862,13365330.6%Operating leases2,5782,479994.0%Deferred income taxes129206-77-37.4%Other long-term liabilities337379-42-11.1%Shareholders' equity: Common stock - 378 and 377 million shares issued4400.0%Paid-in capital3,4793,3751043.1%Treasury stock, at cost, 267 and 246 million shares-13,715-12,975-7405.7%Retained earnings13,99514,257-262-1.8%Total shareholders' equity$3,763$4,661-$898-19.3%Total liabilities and shareholders' equity$14,345$15,054-$709-4.7%
total sales: 2022 - $17,161 2021 - $18,471 (both in millions)

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