Inventories

9 Months Ended

Sep. 28, 2024

Inventories by major classification are as follows:


(Amounts in millions)	September 28, 2024		December 30, 2023
Finished goods	$	873.3	$	874.6
Work in progress	78.4		76.1
Raw materials	169.8		171.1
Total FIFO value	1,121.5		1,121.8
Excess of current cost over LIFO cost	(125.7)		(115.9)
Total inventories – net	$	995.8	$	1,005.9

Inventories accounted for using the first-in, first-out (“FIFO”) method approximated 58% and 59% of total inventories as of September 28, 2024, and December 30, 2023. The company accounts for its non-U.S. inventory on the FIFO method. As of September 28, 2024, approximately 35% of the company’s U.S. inventory was accounted for using the FIFO method and 65% was accounted for using the last-in, first-out (“LIFO”) method. There were no LIFO inventory liquidations in the three and nine month periods ended September 28, 2024, and September 30, 2023.