6 Inventories

Inventories are stated at the lower of cost (principally FIFO) or market. The components of inventories were as follows:


	As of
	September 30, 2015			December 31, 2014
Raw materials	$	335.7		$	312.2
Work in progress		241.0			240.6
Finished products		201.7			206.0

Inventories		778.4			758.8
Inventory valuation reserve		(85.6	)		(83.3	)

Total inventories, net of reserve	$	692.8		$	675.5