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Inventories

3 Months Ended

Mar. 31, 2015

3. Inventories

The components of the Company’s inventories, net of excess and obsolescence reserves for raw materials and finished goods, at March 31, 2015 and December 31, 2014 were as follows:

	March 31,			December 31,
	2015			2014
Raw materials and manufacturing supplies	$	250.0		$	261.7
Work in process		155.4			157.5
Finished goods		249.1			260.6
LIFO reserve		(94.3	)		(93.6	)
Total	$	560.2		$	586.2

- 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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