INVENTORIES, NET

6 Months Ended

Jul. 01, 2017

Inventories at July 1, 2017 and December 31, 2016 comprised the following:



	July 1, 2017			December 31, 2016
Finished goods	$	49.7		$	43.0
Work in process	59.8			50.0
Raw materials and purchased parts	70.9			64.9
Total FIFO cost	180.4			157.9
Excess of FIFO cost over LIFO inventory value	(12.1		)	(12.2		)
Total inventories, net	$	168.3		$	145.7

Inventories include material, labor and factory overhead costs and are reduced, when necessary, to estimated net realizable values. Certain domestic inventories are valued using the last-in, first-out (“LIFO”) method. These inventories were approximately 55% and 51% of total inventory at July 1, 2017 and December 31, 2016, respectively. Other inventories are valued using the first-in, first-out (“FIFO”) method.