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Inventories
 9 Months Ended
Jun. 30, 2019
Inventory Disclosure [Abstract]  
Inventories

9.

Inventories

Inventories consisted of the following (in millions):

 

 

 

June 30,

2019

 

 

September 30,

2018

 

Raw materials

 

$

735.3

 

 

$

639.2

 

Partially finished products

 

 

275.0

 

 

 

354.3

 

Finished products

 

 

454.4

 

 

 

330.2

 

Inventories at FIFO cost

 

 

1,464.7

 

 

 

1,323.7

 

Less: Excess of FIFO cost over LIFO cost

 

 

(103.3

)

 

 

(96.0

)

 

 

$

1,361.4

 

 

$

1,227.7

 

 

Due to the adoption of ASC 606, certain contracts in the defense and commercial segments are now recognized on the cost-to-cost method of percentage-of-completion. “Partially finished products” under these contracts are now recognized as “Unbilled receivables, net” on the Company’s Condensed Consolidated Balance Sheets.