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INVENTORIES

6 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 7. INVENTORIES

Inventories consisted of the following:

			June 30, 2024						December 31, 2023						June 30, 2023
Inventories			($ in millions)
Supplies			$	151.8					$	160.3					$	145.1
Raw materials			195.3						171.1						181.6
Work in process			164.3						153.5						202.5
Finished goods			527.6						507.6						725.8
Inventories excluding LIFO reserve			1,039.0						992.5						1,255.0
LIFO reserve			(166.1)						(133.7)						(173.8)
Inventories, net			$	872.9					$	858.8					$	1,081.2

Inventories under the LIFO method are based on annual estimates of quantities and costs as of year-end; therefore, the condensed financial statements at June 30, 2024 reflect certain estimates relating to inventory quantities and costs at December 31, 2024. The replacement cost of our inventories would have been approximately $166.1 million, $133.7 million and $173.8 million higher than reported at June 30, 2024, December 31, 2023 and June 30, 2023, 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
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//330/tableOfContent

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