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Inventories | 12 Months Ended
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Dec. 31, 2020
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories consisted of the following:
| December 31,
(in Millions) | 2020 |  | 2019
Finished goods | $ | 434.6 |  |  | $ | 372.2 |
Work in process | 621.9 |  |  | 559.4 |
Raw materials, supplies and other | 165.7 |  |  | 217.3 |
FIFO inventory | $ | 1,222.2 |  |  | $ | 1,148.9 |
Less: Excess of FIFO cost over LIFO cost | (126.6) |  |  | (131.9) |
Net inventories | $ | 1,095.6 |  |  | $ | 1,017.0 |
Approximately 33 percent and 21 percent of our inventories in 2020 and 2019, respectively, were recorded on the LIFO basis.

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