INVENTORIES

12 Months Ended

Dec. 31, 2016

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

	December 31,
	2016			2015
	($ in millions)
Supplies	$	58.1		$	86.5
Raw materials	72.6			91.5
Work in process	110.7			105.8
Finished goods	435.1			445.3
	676.5			729.1
LIFO reserves	(46.1		)	(43.9		)
Inventories, net	$	630.4		$	685.2

In conjunction with the Acquisition, we obtained inventories with a fair value of $456.4 million as of October 5, 2015. Inventories valued using the LIFO method comprised 54% and 49% of the total inventories at December 31, 2016 and 2015, respectively.  The replacement cost of our inventories would have been approximately $46.1 million and $43.9 million higher than that reported at December 31, 2016 and 2015, respectively. During 2014 the reduction in LIFO inventory quantities resulted in LIFO inventory liquidation losses of $1.5 million.