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Inventories (Tables)

9 Months Ended

Sep. 30, 2014

Inventory Disclosure [Abstract]

Inventories

Inventories at September 30, 2014 and December 31, 2013 were as follows (in millions):

	September 30, 2014				December 31, 2013
Raw materials and supplies	$	262.1			$	277.6
Work-in-process	1,130.7				984.9
Finished goods	165.5				162.1
Total inventories at current cost	1,558.3				1,424.6
Adjustment from current cost to LIFO cost basis	(18.5		)		29.4
Inventory valuation reserves	(54.5		)		(84.3		)
Progress payments	(67.6		)		(47.6		)
Total inventories, net	$	1,417.7			$	1,322.1

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- Definition

Disclosure of the values of the inventory by category at the balance sheet date including raw materials, work-in-process, finished goods at current cost, adjusted for LIFO reserves and progress payments

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