INVENTORIES

12 Months Ended

Dec. 31, 2011

	December 31,
	2011			2010
	($ in millions)
Supplies	$	35.0		$	30.8
Raw materials		75.7			56.5
Work in process		31.9			24.7
Finished goods		111.7			104.4
		254.3			216.4
LIFO reserves		(77.7	)		(60.8	)
Inventories	$	176.6		$	155.6

In conjunction with the acquisition of SunBelt, we obtained inventories with a fair value of $4.0 million, as of February 28, 2011. Inventories valued using the LIFO method comprised 72% of the total inventories at December 31, 2011 and 2010. If the first-in, first-out (FIFO) method of inventory accounting had been used, inventories would have been $77.7 million and $60.8 million higher than that reported at December 31, 2011 and 2010, respectively.

- 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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