Inventories

Inventories are stated at the lower of cost or net realizable value. In the fourth quarter of 2014, the Company changed its method of inventory costing for certain inventory in its Americas operating segment to the first-in first-out (FIFO) method from the last-in first-out (LIFO) method. The Company's other operating segments also determine inventory cost using the FIFO method.

The major classes of inventory were as follows:



In millions	June 30, 2015		December 31, 2014
Raw materials	$	65.0	$	54.8
Work-in-process	45.4		32.1
Finished goods	95.5		92.6
Total	$	205.9	$	179.5