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Inventories

12 Months Ended

Dec. 31, 2024

Inventory, Net [Abstract]

Inventories

INVENTORIES

At December 31, the major classes of inventory were as follows:

In millions						2024						2023
Raw materials						$	612.3					$	605.1
Work-in-process						374.4						385.1
Finished goods						1,153.5						1,332.3
						2,140.2						2,322.5
LIFO reserve						(168.7)						(170.4)
Total						$	1,971.5					$	2,152.1

The Company performs periodic assessments to determine the existence of obsolete, slow-moving and non-saleable inventories and records necessary provisions to reduce such inventories to the lower of cost and NRV. Reserve balances, primarily related to obsolete and slow-moving inventories, were $163.7 million and $143.5 million at December 31, 2024 and December 31, 2023, respectively.

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- 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/disclosureRef
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/330/tableOfContent

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- References

No definition available.

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