INVENTORIES:

Inventories are stated at the lower of cost (primarily computed in accordance with the first-in, first-out method) or net realizable value. Elements of cost include materials, labor and overhead and consist of the following:



	May 31, 2018		February 28, 2018
(in millions)
Raw materials and supplies	$	162.4	$	160.8
In-process inventories	1,318.4		1,382.8
Finished case goods	587.6		540.4
	$	2,068.4	$	2,084.0

Related party transactions and arrangements –

We have an equally-owned glass production plant joint venture with Owens-Illinois. We have entered into various contractual arrangements with affiliates of Owens-Illinois primarily for the purchase of glass bottles used largely in our imported and craft beer portfolios. Amounts purchased under these arrangements for the three months ended May 31, 2018, and May 31, 2017, were $69.0 million and $97.2 million, respectively.