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INVENTORIES, NET

9 Months Ended

Sep. 30, 2017

Inventory Disclosure [Abstract]

INVENTORIES, NET

INVENTORIES, NET

Inventories at September 30, 2017 and December 31, 2016 comprised the following:

	September 30, 2017				December 31, 2016
Finished goods	$	48.3			$	43.0
Work in process	60.3				50.0
Raw materials and purchased parts	69.1				64.9
Total FIFO cost	177.7				157.9
Excess of FIFO cost over LIFO inventory value	(12.1		)		(12.2		)
Total inventories, net	$	165.6			$	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 60% and 51% of total inventory at September 30, 2017 and December 31, 2016, respectively. Other inventories are valued using the first-in, first-out (“FIFO”) method.

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- References

No definition available.

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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/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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