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INVENTORIES

3 Months Ended

Mar. 31, 2023

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

Inventories consist of the following (in millions):

			March 31, 2023						December 31, 2022
Finished equipment			$	368.8					$	319.2
Replacement parts			190.0						163.0
Work-in-process			156.7						153.5
Raw materials and supplies			367.7						352.7
Inventories			$	1,083.2					$	988.4

Work-in-process inventory includes approximately $48 million and $36 million of substantially completed inventory awaiting installation of final components at March 31, 2023 and December 31, 2022, respectively.

Reserves for lower of cost or net realizable value and excess and obsolete inventory were $64.4 million and $61.0 million at March 31, 2023 and December 31, 2022, respectively.

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- References

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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 https://asc.fasb.org/topic&trid=2126998

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