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Inventories

12 Months Ended

Dec. 31, 2013

Note 6. Inventories

The components of the Company’s inventories, net of excess and obsolescence reserves for raw materials and finished goods, at December 31, 2013 and 2012 were as follows:

	2013			2012
Raw materials and manufacturing supplies	$	212.6		$	214.2
Work in process		145.2			158.8
Finished goods		235.4			229.3
LIFO reserve		(92.0	)		(92.1	)
Total	$	501.2		$	510.2

The Company recognized a LIFO benefit of $0.1 million and $4.3 million in 2013 and 2012, respectively, and expense of $8.4 million in 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.

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