Inventories (Tables)

3 Months Ended

Mar. 31, 2020

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories at March 31, 2020 and December 31, 2019 were as follows (in millions):

	March 31, 2020			December 31, 2019
Raw materials and supplies	$	174.8		$	164.9
Work-in-process	908.9			899.6
Finished goods	171.7			161.3
Total inventories at current cost	1,255.4			1,225.8
Adjustment from current cost to LIFO cost basis	45.6			33.6
Inventory valuation reserves	(119.9		)	(104.1		)
Total inventories, net	$	1,181.1		$	1,155.3

Schedule of Inventory Valuation Impact on Income

Impacts to cost of sales for changes in the LIFO costing methodology and associated NRV inventory reserves were as follows (in millions):

	Three months ended March 31,
	2020			2019
LIFO benefit	$	12.0		$	1.8
NRV charge	(12.0		)	(1.9		)
Net cost of sales impact	$	—		$	(0.1	)