XML 96 R13.htm IDEA: XBRL DOCUMENT

Inventories

12 Months Ended

Jun. 29, 2012

NOTE 6: INVENTORIES

Inventories are summarized below:

	2012		2011

	(In millions)
Unbilled costs and accrued earnings on fixed-price contracts	$	403.1	$	381.0
Finished products		68.0		137.2
Work in process		41.1		60.1
Raw materials and supplies		105.6		142.5
	$	617.8	$	720.8

Unbilled costs and accrued earnings on fixed-price contracts were net of progress payments of $149.0 million at June 29, 2012 and $85.1 million at July 1, 2011.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References+ Details