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INVENTORIES

9 Months Ended

Sep. 30, 2013

Inventories consist of the following (in millions):



	September 30, 2013		December 31, 2012
Finished equipment	$	468.4	$	485.4
Replacement parts	190.4		201.4
Work-in-process	586.2		507.4
Raw materials and supplies	497.9		521.4
Inventories	$	1,742.9	$	1,715.6

Reserves for lower of cost or market value, excess and obsolete inventory were $149.1 million and $135.6 million at September 30, 2013 and December 31, 2012, 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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