Inventories, net

9 Months Ended

Sep. 30, 2015

Inventories are valued at the lower of cost or market. The cost of U.S. inventories is determined by the last-in, first-out (“LIFO”) method, while the operations outside the U.S. use the first-in, first-out (“FIFO”) or average-cost methods. Inventories consisted of the following:



	September 30,			December 31,
(in millions)	2015			2014
Raw material and supplies	$	327.2		$	319.5
Work in progress	88.5			89.0
Finished goods	125.3			115.5
FIFO inventories	541.0			524.0
LIFO reserve	(17.9		)	(18.3		)
Inventories, net	$	523.1		$	505.7