Inventories

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Inventories

Inventories

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

	As of December 31,
	2023		2022
Finished goods	$	509.4	$	534.6
Work in process	9.6		8.9
Raw materials and parts	314.2		328.7
Total	833.2		872.2
Excess of current cost over last-in, first-out cost	(134.1)		(119.2)
Total inventories, net	$	699.1	$	753.0

Reserves for obsolete and slow-moving inventories were $40.2 million and $34.9 million at December 31, 2023 and December 31, 2022, respectively.