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Inventories

3 Months Ended

Sep. 30, 2011

Note E — Inventories

Inventories are summarized below:

	September 30,		July 1,
	2011		2011

	(In millions)
Unbilled costs and accrued earnings on fixed-price contracts	$	370.9	$	381.0
Finished products		119.0		137.2
Work in process		52.9		60.1
Raw materials and supplies		147.7		142.5
	$	690.5	$	720.8

Unbilled costs and accrued earnings on fixed-price contracts were net of progress payments of $96.1 million at September 30, 2011 and $85.1 million at July 1, 2011.