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Inventories

6 Months Ended

Jun. 30, 2011

(6) Inventories

The following table details our inventories and the reduction of certain inventories to a LIFO basis.


	June 30,			December 31,
	2011			2010
Inventories (at FIFO, which approximates replacement value):
Raw materials	$	115.0		$	94.5
Work in process		143.8			112.6
Finished goods		396.9			337.8

Subtotal (at FIFO)		655.7			544.9
Reduction of certain inventories to LIFO basis		(53.9	)		(49.1	)

Total	$	601.8		$	495.8

We determine the value of non-equipment U.S. inventories by the last-in, first-out or LIFO inventory method. U.S. inventories determined by the LIFO method were $136 million at June 30, 2011 and $102 million at December 31, 2010.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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