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Inventories

12 Months Ended

Dec. 31, 2014

Inventories:

The components of inventories are as follows (in millions):



	As of December 31,
	2014			2013
Finished goods	$	338.2		$	251.4
Work in process	8.1			11.8
Raw materials and parts	182.6			188.9
Total	528.9			452.1
Excess of current cost over last-in, first-out cost	(65.6		)	(73.3		)
Total inventories, net	$	463.3		$	378.8

The Company recorded pre-tax loss of $0.9 million in 2014, pre-tax income of 0.3 million in 2013 and pre-tax loss of $0.1 million in 2012 from LIFO inventory liquidations.

- 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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