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INVENTORIES | 12 Months Ended
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Dec. 31, 2019
Inventory Disclosure [Abstract] |
INVENTORIES | INVENTORIES Inventories consist of the following (in millions):
| December 31, |  |
| 2019 |  | 2018
Finished equipment | $ | 408.1 |  |  | $ | 478.4 |
Replacement parts | 160.8 |  |  | 143.3 |
Work-in-process | 78.7 |  |  | 86.5 |
Raw materials and supplies | 200.1 |  |  | 210.7 |
Inventories | $ | 847.7 |  |  | $ | 918.9 |
Reserves for lower of cost or NRV and excess and obsolete inventory were $53.2 million and $49.8 million at December 31, 2019 and 2018, respectively.

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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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