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Inventories

9 Months Ended

Sep. 30, 2012

The components of inventories are as follows:



(In Millions)	September 30, 2012		December 31, 2011
Raw materials, net of reserves	$	81.5	$	72.1
Work in progress	2.3		2.0
Finished goods, net of reserves	51.6		61.8
	$	135.4	$	135.9

Raw materials are net of a $4.9 million and $4.4 million reserve for obsolete and slow moving inventory at September 30, 2012 and December 31, 2011, respectively. Finished goods are net of a $2.3 million and $2.5 million reserve for obsolete and slow moving inventory and lower of cost or market at September 30, 2012 and December 31, 2011, 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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