Inventories

Depending on the business, U.S. inventories are stated at the lower of cost or market using the last-in, first-out (LIFO) method or the lower of cost or market using the first-in, first-out (FIFO) method. Non-U.S. inventories are primarily stated at the lower of cost or market using the FIFO method.

The major classes of inventory were as follows:



In millions	June 30, 2015			December 31, 2014
Raw materials	$	570.4		$	487.9
Work-in-process	155.9			118.2
Finished goods	969.0			823.1
	1,695.3			1,429.2
LIFO reserve	(60.8		)	(70.3		)
Total	$	1,634.5		$	1,358.9