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Supplementary Financial Statement Information (Notes)
 6 Months Ended
Jun. 30, 2017
Inventory Disclosure [Abstract]  
Supplementary Financial Statement Information Supplementary Financial Statement Information
 

Inventory, net

Inventories as of June 30, 2017 and December 31, 2016, are presented below:
 
June 30,
2017
 
December 31,
2016
Finished and semi-finished
$
947.3

 
$
855.0

Raw materials
372.4

 
415.8

Total cost
1,319.7

 
1,270.8

Adjustment to state inventories at LIFO value
(216.2
)
 
(156.9
)
Inventory, net
$
1,103.5

 
$
1,113.9



Investments in Affiliates

We have investments in several businesses accounted for using the equity method of accounting. Cost of products sold includes $2.2 and $3.4 for the three months ended June 30, 2017 and 2016, and $5.6 and $6.3 for the six months ended June 30, 2017 and 2016, for our share of income of equity investees.

Summarized financial statement data for all investees is presented below.
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2017
 
2016
 
2017
 
2016
Revenue
 
$
76.8

 
$
74.3

 
$
149.3

 
$
143.9

Gross profit
 
23.6

 
25.5

 
49.1

 
48.5

Net income
 
6.5

 
8.7

 
15.4

 
16.5



Facility Idling

In the fourth quarter of 2015, we temporarily idled the Ashland Works blast furnace and steelmaking operations (“Ashland Works Hot End”). We incurred charges during the fourth quarter of 2015 for supplemental unemployment and other employee benefit costs and for equipment idling, asset preservation and other costs. The supplemental unemployment and other employee benefit costs were recorded as accrued liabilities in the condensed consolidated balance sheet, and the activity for the six months ended June 30, 2017 and 2016 was as follows:
 
 
Six Months Ended June 30,
 
 
2017
 
2016
Balance at beginning of period
 
$
6.1

 
$
22.1

Payments
 
(3.0
)
 
(10.3
)
Balance at end of period
 
$
3.1

 
$
11.8



We estimate we will incur on-going costs of approximately $2.0 per month for maintenance of the equipment, utilities and supplier obligations related to the temporarily idled Ashland Works Hot End. These costs were $5.2 and $5.4 for the three months ended June 30, 2017 and 2016, and $10.8 and $12.7 for the six months ended June 30, 2017 and 2016. The carrying value of the long-lived assets associated with the temporarily idled operations totaled approximately $70.0 as of June 30, 2017.