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INVENTORIES
6 Months Ended
Jun. 30, 2022
Inventory Disclosure [Abstract]  
INVENTORIES INVENTORIES
Inventories consist of the following (in millions):
June 30,
2022
December 31,
2021
Finished equipment$320.3 $283.0 
Replacement parts156.7 157.3 
Work-in-process166.9 105.5 
Raw materials and supplies319.3 267.7 
Inventories$963.2 $813.5 

Work-in-process inventory includes approximately $63 million and $10 million of substantially completed inventory awaiting installation of final components at June 30, 2022 and December 31, 2021, respectively.

Reserves for lower of cost or net realizable value and excess and obsolete inventory were $57.5 million and $57.8 million at June 30, 2022 and December 31, 2021, respectively.