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Inventories

12 Months Ended

Dec. 31, 2012

6.	Inventories


December 31 (dollars in millions)	2012		2011
Finished products	$	74.4	$	85.6
Work in process		12.0		10.6
Raw materials		100.0		98.9

Inventories, at FIFO cost		186.4		195.1
LIFO reserve		23.0		26.7

	$	163.4	$	168.4

The company recognized after-tax LIFO (income) expense of $(1.1) million, $0.4 million and $0.3 million in 2012, 2011 and 2010, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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