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INVENTORIES

9 Months Ended

Sep. 30, 2014

NOTE C. INVENTORIES

Inventories consisted of the following components (dollars in millions):


	September 30, 2014		December 31, 2013
Purchased parts and raw materials	$	84.2	$	79.7
Work in progress		6.1		5.7
Service parts		44.9		45.8
Finished goods		26.3		29.2

Total inventories	$	161.5	$	160.4

Inventory components shipped to third parties, primarily cores, parts to re-manufacturers, and parts to contract manufacturers, in which the Company has an obligation to buy back, are included in purchased parts and raw materials, with an offsetting liability in Other current liabilities.

- 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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