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Inventories

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Inventories

Note 7 - Inventories

The components of inventories at December 31, 2024 and 2023 were as follows:

			2024			2023
Manufacturing supplies			$	42.8		$	41.9
Raw materials			155.2			145.6
Work in process			476.0			496.1
Finished products			595.0			619.2
Subtotal			$	1,269.0		$	1,302.8
Allowance for surplus and obsolete inventory			(73.4)			(73.7)
Total Inventories, net			$	1,195.6		$	1,229.1

Inventories at December 31, 2024 valued on the FIFO cost method were 59% and the remaining 41% were valued by the LIFO method. If all inventories had been valued at FIFO, inventories would have been $257.2 million and $232.1 million greater at December 31, 2024 and 2023, respectively. The Company recognized an increase in its LIFO reserve of $25.1 million during 2024, compared to a decrease in its LIFO reserve of $3.3 million during 2023.

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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/disclosureRef
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/330/tableOfContent

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