Inventories

9 Months Ended

Sep. 29, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories at September 29, 2024 and December 31, 2023 were as follows (in millions):

	September 29, 2024		December 31, 2023
Raw materials and supplies	$	217.0	$	234.9
Work-in-process	1,188.2		973.6
Finished goods	81.0		114.5
	1,486.2		1,323.0
Inventory valuation reserves	(71.7)		(75.5)
Total inventories, net	$	1,414.5	$	1,247.5

Inventories are stated at the lower of cost (first-in, first-out (FIFO) and average cost methods) or net realizable value.