INVENTORIES

12 Months Ended

Dec. 31, 2015

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

	December 31,
	2015			2014
	($ in millions)
Supplies	$	86.5		$	39.2
Raw materials	91.5			63.3
Work in process	105.8			31.8
Finished goods	445.3			141.5
	729.1			275.8
LIFO reserves	(43.9		)	(65.7		)
Inventories, net	$	685.2		$	210.1

In conjunction with the Acquisition, we obtained inventories with a fair value of $477.1 million as of October 5, 2015. Inventories valued using the LIFO method comprised 49% and 58% of the total inventories at December 31, 2015 and 2014, respectively.  The replacement cost of our inventories would have been approximately $43.9 million and $65.7 million higher than that reported at December 31, 2015 and 2014, respectively. During 2014 the reduction in LIFO inventory quantities resulted in LIFO inventory liquidation losses of $1.5 million.