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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Components of Inventories

The components of inventories were as follows (dollars in millions):

		December 31,
		2020				2019
Raw materials		$	263.5			$	271.5
Work in process			11.6				11.0
Finished goods			183.6				207.7
Supplies and materials			329.2				303.9
Inventories		$	787.9			$	794.1

Property, Plant and Equipment (at cost)

Property, plant, and equipment consisted of the following (dollars in millions):

		December 31,
		2020				2019
Land and land improvements		$	179.6			$	177.5
Buildings			858.5				837.4
Machinery and equipment			5,826.6				5,727.4
Construction in progress			360.0				174.0
Other			88.8				81.5
Property, plant and equipment, at cost			7,313.5				6,997.8
Less accumulated depreciation			(4,120.1	)			(3,846.1	)
Property, plant and equipment, net		$	3,193.4			$	3,151.7

Property, Plant and Equipment Estimated Useful Lives

Depreciation is computed on the straight-line basis over the estimated useful lives of the related assets. Assets under finance leases are depreciated on the straight-line method over the term of the lease or the useful life, if shorter. The following lives are used for the various categories of assets:

Buildings and land improvements		5 to 40 years
Machinery and equipment		3 to 25 years
Trucks and automobiles		3 to 10 years
Furniture and fixtures		3 to 20 years
Computers and hardware		3 to 10 years
Leasehold improvements		Period of the lease or useful life, if shorter

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Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

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