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Inventories (Tables)
 12 Months Ended
Dec. 31, 2017
Inventories  
Schedule of inventories

 

 

 

 

 

 

 

December 31,

 

December 31,

 

2017

    

2016

 

(in millions)

LIFO inventories - cost on the FIFO method

$

1,390.0

 

$

1,219.0

 

 

 

 

 

 

LIFO inventory valuation reserve adjustment

 

(21.8)

 

 

51.5

Lower of cost or market adjustment

 

 —

 

 

(42.6)

Cost on FIFO method (higher) lower than LIFO value

 

(21.8)

 

 

8.9

 

 

 

 

 

 

Inventories - stated on LIFO method

 

1,368.2

 

 

1,227.9

Inventories - stated on FIFO method

 

357.8

 

 

304.7

 

$

1,726.0

 

$

1,532.6

 

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

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

2017

 

2016

 

2015

 

(in millions)

LIFO inventory valuation reserve adjustment charge (income)

$

73.3

 

$

(8.5)

 

$

(186.1)

Liquidation of LIFO inventory quantities that increased cost of sales

 

**

 

 

**

 

$

38.7

** Insignificant liquidations of LIFO inventory quantities.