INVENTORIES

3 Months Ended

Mar. 31, 2025

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

The components of inventories, net of applicable net realizable value write-downs, were as follows:

	March 31 2025		December 31 2024
Raw materials	$	1,537.6	$	1,521.1
Work in progress	113.6		106.6
Finished goods	137.1		132.9
	$	1,788.3	$	1,760.6

We recorded inventory write-downs of $16.5 in cost of sales for Q1 2025 (Q1 2024 — $16.9).

Contract liabilities:

We receive cash deposits from certain of our customers primarily to reduce risks related to excess and/or obsolete inventory. At March 31, 2025, our accrued and other current liabilities and provisions included $471.8 (December 31, 2024 — $511.6) of cash deposits.