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Inventories, Net | 6 Months Ended
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Jun. 30, 2024
Inventory Disclosure [Abstract] |
Inventories, Net | Inventories, Net Inventories, net are valued at the lower of cost (using the first-in, first-out and weighted average methods) or net realizable value. The Company's costs included in inventory primarily include resins, pulp, chemicals, direct labor, utilities, maintenance, depreciation, finishing supplies and an allocation of certain overhead costs. Machine start-up costs or unplanned machine shutdowns are expensed in the period incurred and are not reflected in inventory. The Company reviews inventories at least quarterly to determine the necessity of write-offs for excess, obsolete or unsalable inventory. The Company estimates write-offs for inventory obsolescence and shrinkage based on its judgment of future realization. These reviews require the Company to assess customer and market demand. There were no material inventory write-offs during the three and six months ended June 30, 2024 and 2023. The following table summarizes inventories by major class (in millions):
| June 30, 2024 |  | December 31, 2023
Raw materials | $ | 131.8 |  |  | $ | 129.9 |
Work in process | 55.8 |  |  | 50.4 |
Finished goods | 145.2 |  |  | 160.0 |
Supplies and other | 14.4 |  |  | 12.6 |
Total inventories | $ | 347.2 |  |  | $ | 352.9 |

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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 + Details
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