INVENTORIES

Inventories consisted of the following:



	December 31,
(In millions)	2017		2016
Raw materials	$	271.4	$	240.4
Work in process	130.2		36.0
Finished goods	585.4		58.3
Inventory, net	$	987.0	$	334.7

All amounts in the table above are reported net of obsolescence reserves of $70.8 million and $38.8 million at December 31, 2017 and 2016, respectively.

Net inventories accounted for under the LIFO method totaled $300.9 million at December 31, 2017. There were no net inventories accounted for under the LIFO method at December 31, 2016. The current replacement costs of LIFO inventories exceeded their recorded values by $0.6 million at December 31, 2017. There was no reduction to the base LIFO inventory in 2017.