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Inventories, Net | 12 Months Ended
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Dec. 31, 2016
Inventory, Net [Abstract] |
Inventories, Net | Inventories, Net The components of net inventories were as follows as of December 31, (in millions):
| 2016 |  | 2015
Materials and supplies | $ | 350.7 |  |  | $ | 117.3 |
Work-in-process | 236.1 |  |  | 108.0 |
Finished products | 1,529.2 |  |  | 496.5 |
| $ | 2,116.0 |  |  | $ | 721.8 |
Inventory costs include direct materials, direct labor and manufacturing overhead, or when finished goods are sourced, the cost is the amount paid to the third party. Approximately 17.5% and 51.3% of gross inventory costs at December 31, 2016 and 2015, respectively, were determined by the last-in, first-out (“LIFO”) method; for the balance, cost was determined using the first-in, first-out (“FIFO”) method. As of December 31, 2016 and 2015, LIFO reserves were $16.6 million and $23.6 million, respectively. The pretax income from continuing operations recognized by the Company related to the liquidation of LIFO-based inventories in 2016, 2015 and 2014 was $2.9 million, $1.5 million and $7.2 million, 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/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 + Details
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