Inventories

3 Months Ended

Apr. 03, 2021

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first-in, first-out method. Finished goods and work-in-process inventories include material, labor and manufacturing overhead costs.

A summary of inventories is shown below (in millions):

	April 3, 2021		December 31, 2020
Raw materials	$	1,081.0	$	1,051.6
Work-in-process	109.9		109.8
Finished goods	431.2		396.9
Reserves	(157.3)		(157.2)
Inventories	$	1,464.8	$	1,401.1