OTHER FINANCIAL INFORMATION

Inventories

The approximate percentage distribution between major classes of inventories was as follows:



	April 1, 2017	December 31, 2016
Raw Material and Work in Process	48%	45%
Finished Goods and Purchased Parts	52%	55%

Inventories are stated at cost, which is not in excess of market. Cost for approximately 54% of the Company's inventory at April 1, 2017, and 55% at December 31, 2016 was determined using the LIFO method.

Property, Plant and Equipment

Property, plant, and equipment by major classification was as follows (dollars in millions):



	Useful Life in Years	April 1, 2017			December 31, 2016
Land and Improvements		$	78.8		$	76.7
Buildings and Improvements	3 - 50	286.6			280.4
Machinery and Equipment	3 - 15	949.5			929.9
Property, Plant and Equipment		1,314.9			1,287.0
Less: Accumulated Depreciation		(681.7		)	(659.5		)
Net Property, Plant and Equipment		$	633.2		$	627.5

Other

As part of the purchase agreement of the 2008 acquisition of the Wuxi Hwada Motor Co., the Company agreed that if certain relocation compensation was received for the relocation of the business, the Company would pay a portion of that compensation to the seller as part of a deferred contingent purchase price. During the three months ended April 1, 2017, a final deferred contingent purchase price payment of $5.3 million was made under this agreement.