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Inventories, Net

12 Months Ended

Dec. 31, 2017

Inventory Disclosure [Abstract]

Inventories, Net

Inventories, Net

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

	December 31,
	2017				2016
Finished goods	$	33.0			$	43.0
Work in process	56.0				50.0
Raw materials and purchased parts	66.4				64.9
Total FIFO cost	155.4				157.9
Excess of FIFO cost over LIFO inventory value	(12.4		)		(12.2		)
Total inventories	$	143.0			$	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 56% and 51% of total inventory at December 31, 2017 and 2016, respectively. Other inventories are valued using the first-in, first-out (“FIFO”) method.

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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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