INVENTORIES, NET

3 Months Ended

Apr. 03, 2021

Inventory Disclosure [Abstract]

INVENTORIES, NET

INVENTORIES, NET

Inventories at April 3, 2021 and December 31, 2020 comprised the following:

	April 3, 2021		December 31, 2020
Finished goods	$	57.1	$	52.9
Work in process	22.2		22.3
Raw materials and purchased parts	105.1		101.5
Total FIFO cost	184.4		176.7
Excess of FIFO cost over LIFO inventory value	(14.7)		(14.7)
Total inventories, net	$	169.7	$	162.0

Inventories include material, labor and factory overhead costs and are reduced, when necessary, to estimated net realizable values. Certain inventories are valued using the last-in, first-out (“LIFO”) method. These inventories were approximately 36% and 38% of total inventory at April 3, 2021 and December 31, 2020, respectively. Other inventories are valued using the first-in, first-out (“FIFO”) method.