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Inventory
3 Months Ended
Mar. 31, 2025
Inventory Disclosure [Abstract]  
INVENTORY INVENTORY
Inventory, net of reserves, consisted of (in millions):
 March 31,
2025
December 31,
2024
Raw materials$80.7 $90.9 
Work in process5.3 4.1 
Finished goods276.7 220.5 
Inventory$362.7 $315.5 

The excess and obsolete inventory reserve was $147.8 million and $144.8 million as of March 31, 2025 and December 31, 2024, respectively. Inventory write-downs related to excess and obsolete inventory were not material during the three months ended March 31, 2025. Inventory write-downs were $18.1 million during the three months ended March 31, 2024. These were recorded in cost of product revenue on the condensed consolidated statements of income.