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Inventories | 12 Months Ended
--- | ---
Dec. 31, 2024
Inventory Disclosure [Abstract] |
Inventories | Inventories The components of inventories are as follows (in millions):
| As of December 31,
| 2024 |  | 2023
Finished goods | $ | 422.6 |  |  | $ | 509.4 |
Work in process | 11.0 |  |  | 9.6 |
Raw materials and parts | 410.7 |  |  | 314.2 |
Total | 844.3 |  |  | 833.2 |
Excess of current cost over last-in, first-out cost | (139.5) |  |  | (134.1) |
Total inventories, net | $ | 704.8 |  |  | $ | 699.1 |
The Company recorded a pre-tax gain of $0.2 million in 2024 from LIFO liquidations. There were no pre-tax gains in 2023 or 2022 from LIFO inventory liquidations. Obsolete and slow-moving inventories were $55.8 million and $40.2 million as of 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 + Details
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