Inventories

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories at December 31, 2022 and 2021 were as follows (in millions):

	2022		2021
Raw materials and supplies	$	213.6	$	160.3
Work-in-process	941.1		829.6
Finished goods	111.9		121.8
	1,266.6		1,111.7
Inventory valuation reserves	(70.9)		(65.4)
Total inventories, net	$	1,195.7	$	1,046.3

Inventories are stated at the lower of cost (FIFO and average cost methods) or net realizable value.