XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Inventories | 9 Months Ended
--- | ---
Sep. 30, 2017
Inventory Disclosure [Abstract] |
Inventory Disclosure [Text Block] |
5. | INVENTORIES
We state our inventories at the lower of cost or net realizable value. The cost of our inventories is determined using the first-in first-out method. When we determine that our gross inventories exceed usage requirements, or if inventories become obsolete or otherwise not saleable, we record a provision for such loss as a component of our inventory accounts. Inventories consist of the following:
|  | September 30, 2017 |  | December 31, 2016
|  | (in millions)
Raw materials and work-in-progress |  | $ | 331.4 |  |  | $ | 163.3 |
Finished goods |  | 90.0 |  |  | 33.8 |
Gross inventories |  | 421.4 |  |  | 197.1 |
Inventory valuation reserves |  | (24.8 | ) |  | (14.8 | )
Inventories, net |  | $ | 396.6 |  |  | $ | 182.3 |
Effective April 1, 2017, we changed our method of accounting for indirect inventory from capitalizing and recording as expense when the inventory was consumed to now expensing indirect inventory at the time of purchase. Based on the guidance in ASC 250 Accounting Changes and Error Corrections, we have adjusted retained earnings to reflect the retrospective application of this change in accounting principle. Refer to Note 1 - Organization and Basis of Presentation for further detail. Based on this change in accounting principle, Raw materials and work-in-progress and Inventory valuation reserves, as of December 31, 2016, reflect a decrease of $49.4 million and a decrease of $12.2 million, respectively.

X
- References No definition available. + Details
Name: | us-gaap_InventoryDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
Name: | us-gaap_InventoryDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration