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INVENTORIES | 3 Months Ended
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Mar. 31, 2017
Inventory Disclosure [Abstract] |
INVENTORIES | INVENTORIES Inventories consisted of the following:
| March 31, 2017 |  | December 31, 2016 |  | March 31, 2016
| ($ in millions)
Supplies | $ | 60.1 |  |  | $ | 58.1 |  |  | $ | 73.7 |
Raw materials | 68.9 |  |  | 72.6 |  |  | 88.0 |
Work in process | 115.0 |  |  | 110.7 |  |  | 108.1 |
Finished goods | 448.3 |  |  | 424.9 |  |  | 452.2 |
| 692.3 |  |  | 666.3 |  |  | 722.0 |
LIFO reserve | (36.0 | ) |  | (35.9 | ) |  | (42.5 | )
Inventories, net | $ | 656.3 |  |  | $ | 630.4 |  |  | $ | 679.5 |
Inventories are valued at the lower of cost and net realizable value. For U.S. inventories, inventory costs are determined principally by the dollar value last-in, first-out (LIFO) method of inventory accounting while for international inventories, inventory costs are determined principally by the first-in, first-out (FIFO) method of inventory accounting. Cost for other inventories has been determined principally by the average-cost method (primarily operating supplies, spare parts and maintenance parts). Elements of costs in inventories included raw materials, direct labor and manufacturing overhead. Inventories under the LIFO method are based on annual estimates of quantities and costs as of year-end; therefore, the condensed financial statements at March 31, 2017 reflect certain estimates relating to inventory quantities and costs at December 31, 2017. The replacement cost of our inventories would have been approximately $36.0 million, $35.9 million and $42.5 million higher than reported at March 31, 2017, December 31, 2016 and March 31, 2016, respectively.

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- Definition The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph a, b, c -Article 5 + Details
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