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INVENTORIES

9 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

Inventories consist of the following (in millions):

			September 30, 2023						December 31, 2022
Finished equipment			$	414.1					$	319.2
Replacement parts			178.5						163.0
Work-in-process			134.0						153.5
Raw materials and supplies			390.4						352.7
Inventories			$	1,117.0					$	988.4

Work-in-process inventory includes approximately $20 million and $36 million of substantially completed inventory awaiting installation of final components at September 30, 2023 and December 31, 2022, respectively.

Reserves for lower of cost or net realizable value and excess and obsolete inventory were $65.5 million and $61.0 million at September 30, 2023 and December 31, 2022, 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
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//330/tableOfContent

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