MATERIALS, SUPPLIES, AND INVENTORIES

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

MATERIALS, SUPPLIES, AND INVENTORIES

MATERIALS, SUPPLIES, AND INVENTORIES

Our inventory consisted of:

(in millions)	September 30, 2020		December 31, 2019
Natural gas in storage	$	251.9	$	227.7
Materials and supplies	247.3		234.2
Fossil fuel	74.2		87.9
Total	$	573.4	$	549.8

PGL and NSG price natural gas storage injections at the calendar year average of the costs of natural gas supply purchased. Withdrawals from storage are priced on the LIFO cost method. For interim periods, the difference between current projected replacement cost and the LIFO cost for quantities of natural gas temporarily withdrawn from storage is recorded as a temporary LIFO liquidation debit or credit. At September 30, 2020, all LIFO layers were replenished, and the LIFO liquidation balance was zero.

Substantially all other natural gas in storage, materials and supplies, and fossil fuel inventories are recorded using the weighted-average cost method of accounting.