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Inventories

12 Months Ended

Dec. 31, 2014

Note 5 Inventories

The following table details our inventories:

	December 31,		December 31,
(In millions)	2014		2013
Inventories:
Raw materials	$	108.9	$	116.6
Work in process		104.0		110.9
Finished goods		494.7		502.7
Total	$	707.6	$	730.2

During the fourth quarter of 2014, we changed the method of valuing our inventories that used the LIFO method to the FIFO method, so that all of our inventories are now valued at FIFO. Refer to Note 2, “Summary of Significant Accounting Policies – Inventories” for a discussion of our change in accounting policy.

- 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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