INVENTORIES

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

Inventories consist of the following (in millions):

	September 30, 2019		December 31, 2018
Finished equipment	$	408.1	$	478.4
Replacement parts	154.9		143.3
Work-in-process	87.7		86.5
Raw materials and supplies	207.3		210.7
Inventories	$	858.0	$	918.9

Reserves for lower of cost or net realizable value and excess and obsolete inventory were $51.4 million and $49.8 million at September 30, 2019 and December 31, 2018, respectively.