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INVENTORIES
3 Months Ended
Mar. 31, 2018
Inventory Disclosure [Abstract]  
INVENTORIES
INVENTORIES

Inventories consist of the following (in millions):
 
March 31,
2018
 
December 31,
2017
Finished equipment
$
407.1

 
$
419.6

Replacement parts
161.8

 
163.3

Work-in-process
190.9

 
165.6

Raw materials and supplies
249.3

 
221.1

Inventories
$
1,009.1

 
$
969.6



Reserves for lower of cost or net realizable value and excess and obsolete inventory were $87.0 million and $85.8 million at March 31, 2018 and December 31, 2017, respectively.