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INVENTORIES

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

Inventories are stated at the lower of cost and net realizable value. The cost of inventories determined by the last-in, first-out (“LIFO”) method at September 30, 2019 and December 31, 2018 were $8.0 million and $9.0 million, respectively. The cost of remaining inventories was determined by the first-in, first-out (“FIFO”) or average cost methods. If the FIFO method had been used to determine the cost of LIFO inventories, the amounts at which net inventories are stated would be higher than reported at September 30, 2019 and December 31, 2018 by $13.9 million and $10.2 million, respectively.

Inventories, net of inventory valuation reserves, were as follows:

(in millions)						September 30, 2019						December 31, 2018
Finished goods						$	385.7					$	380.0
Work-in-process						84.0						89.2
Raw materials and supplies						135.4						129.7
Inventories, net						$	605.1					$	598.9

The inventory valuation allowance was $85.9 million and $92.5 million at September 30, 2019 and December 31, 2018, respectively.

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- References

No definition available.

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

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