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, 2018			December 31, 2017
Raw materials	$	532.8		$	502.8
Work-in-process	213.1			180.5
Finished goods	1,056.6			941.0
	1,802.5			1,624.3
LIFO reserve	(69.2		)	(68.9		)
Total	$	1,733.3		$	1,555.4

The Company performs periodic assessments to determine the existence of obsolete, slow-moving and non-saleable inventories and records necessary provisions to reduce such inventories to net realizable value. Reserve balances, primarily related to obsolete and slow-moving inventories, were $116.9 million and $120.3 million at June 30, 2018 and December 31, 2017, respectively.