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Inventories

12 Months Ended

Dec. 31, 2011

4. Inventories

Inventories consist of the following:


(In millions)	December 31, 2011		December 31, 2010
Raw materials and supplies	$	49.6	$	52.5
Work in process		11.3		12.1
Finished goods		139.8		130.8

Total	$	200.7	$	195.4

Inventories valued on the last-in, first-out ("LIFO") method totaled $48.3 million and $42.9 million at December 31, 2011 and 2010, respectively, and would have been approximately $6.4 million and $4.5 million higher, respectively, had they been valued using the first-in, first-out ("FIFO") method. The amount of LIFO liquidations in 2011 and 2010 were immaterial.

In 2011, the Company reclassified approximately $2.9 million of inventory at its Brazil facility to assets held for sale. See Note 8 for further information.

- 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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