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Inventories (Tables)
 12 Months Ended
Dec. 31, 2016
Inventories  
Schedule of inventories

 

 

 

 

 

 

 

December 31,

 

December 31,

 

2016

    

2015

 

(in millions)

LIFO inventories - cost on the FIFO method

$
1,219.0

 

$
1,157.5

 

 

 

 

 

 

LIFO inventory valuation reserve adjustment

 
51.5

 

 
43.0

Lower of cost or market adjustment

 
(42.6)

 

 
(69.1)

Cost on FIFO method lower (higher) than LIFO value

 
8.9

 

 
(26.1)

 

 

 

 

 

 

Inventories - stated on LIFO method

 
1,227.9

 

 
1,131.4

Inventories - stated on FIFO method

 
304.7

 

 
304.6

 

$
1,532.6

 

$
1,436.0

 

Schedule of changes in the LIFO valuation reserve and impact of LIFO liquidations

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

2016

    

2015

    

2014

 

(in millions)

LIFO inventory valuation reserve adjustment (income) charge

$
(8.5)

 

$
(186.1)

 

$
54.5

Liquidation of LIFO inventory quantities that increased cost of sales

 

**

 

$
38.7

 

 

**

** Insignificant liquidations of LIFO inventory quantities.