Inventories

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

Inventories

NOTE 8. INVENTORIES

	December 31, 2019			December 31, 2018
Finished goods	$	40.2		$	38.8
Goods in process		4.0			4.4
Raw materials and supplies		35.0			27.8
Less LIFO reserves		(10.7	)		(9.8	)
Total inventories, net	$	68.5		$	61.2

Approximately 73% and 76% of our total inventory in 2019 and 2018, respectively, were valued on a Last-in, first-out (“LIFO”) basis.

The distinction between the use of different methods of inventory valuation is primarily based on legal entities and/or geographical locations.  The following table summarizes the amount of inventory that is not accounted for under the LIFO method.

	December 31, 2019		December 31, 2018
U.S. locations	$	15.3	$	11.8
Canada locations		3.2		2.9
Total	$	18.5	$	14.7

Our Canadian locations use the First-in, first-out (“FIFO”) method of inventory valuation (or other methods which closely approximate the FIFO method) primarily because the LIFO method is not permitted for local tax and/or statutory reporting purposes.  In these situations, a conversion to LIFO would be highly complex and involve excessive cost and effort to achieve under local tax and/or statutory reporting requirements.  U.S. locations that use the FIFO method of inventory valuation primarily represent certain finished goods sourced from third party suppliers and recent acquisitions.