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INVENTORIES
9 Months Ended
Sep. 30, 2017
Inventory Disclosure [Abstract]  
INVENTORIES
INVENTORIES

Inventories consist of the following (in millions):
 
September 30,
2017
 
December 31,
2016
Finished equipment
$
337.9

 
$
334.7

Replacement parts
158.7

 
144.9

Work-in-process
184.2

 
175.4

Raw materials and supplies
223.6

 
198.8

Inventories
$
904.4

 
$
853.8



Reserves for lower of cost or net realizable value and excess and obsolete inventory were $90.3 million at September 30, 2017. Reserves for lower of cost or market value, excess and obsolete inventory were $83.3 million at December 31, 2016.