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INVENTORIES

3 Months Ended

Apr. 01, 2012

INVENTORIES

NOTE 5—INVENTORIES

Inventories consist of the following (in millions):

		April 1, 2012			January 1, 2012

Raw materials		$	113.2		$	107.9
Subassemblies-in-process			6.2			6.7
Finished goods			39.1			45.9

		$	158.5		$	160.5

The Company looks at historical and projected usage for inventory in determining what is excess and obsolete. The methodology for forecasting demand may be modified depending on specific product lifecycles and local circumstances. Any inventory in excess of this demand is written off. During the quarter ended April 1, 2012 the Company wrote off approximately $1.5 million related to excess and obsolete inventory and recorded the charges as costs of goods sold. No amounts were recorded related to excess and obsolete inventory for the quarter ended April 3, 2011.

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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