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Note 6 - Inventories

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Inventory Disclosure [Text Block]

6. Inventories

Inventories are valued at the lower of cost or net realizable value, and consisted of the following:

		March 31,				December 31,
		2021				2020
Inventories carried at LIFO:
Finished goods		$	42.4			$	42.4
Raw materials, production parts and work-in-process			26.2				21.6
Excess of FIFO over LIFO cost(a)			(32.2	)			(31.4	)
Total LIFO inventories		$	36.4			$	32.6
Inventories carried at FIFO:
Finished goods		$	56.2			$	55.0
Raw materials, production parts and work-in-process			44.9				40.1
Total FIFO inventories		$	101.1			$	95.1
Total inventories		$	137.5			$	127.7

^(a) Inventories of $36.4 million as of March 31, 2021, and $32.6 million as of December 31, 2020, were valued at LIFO. The difference between replacement cost and the stated LIFO inventory value is not materially different from the reserve for the LIFO valuation method.

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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