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INVENTORIES, NET

9 Months Ended

Sep. 29, 2018

Inventory Disclosure [Abstract]

INVENTORIES, NET

INVENTORIES, NET

Inventories at September 29, 2018 and December 31, 2017 comprised the following:

	September 29, 2018				December 31, 2017
Finished goods	$	53.1			$	33.0
Work in process	23.6				56.0
Raw materials and purchased parts	78.1				66.4
Total FIFO cost	154.8				155.4
Excess of FIFO cost over LIFO inventory value	(11.3		)		(12.4		)
Total inventories, net	$	143.5			$	143.0

As indicated in Note 2, in connection with the adoption of ASC 606, effective January 1, 2018, inventories were reduced by $40.2. In connection with the Cues transaction, we acquired $33.1 of inventories.

Inventories include material, labor and factory overhead costs and are reduced, when necessary, to estimated net realizable values. Certain inventories are valued using the last-in, first-out (“LIFO”) method. These inventories were approximately 45% and 56% of total inventory at September 29, 2018 and December 31, 2017, 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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