Inventories

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Inventories

Inventories are stated at the lower of cost or net realizable value, and cost is determined using FIFO. Inventories consisted of the following at September 30, 2020, and December 31, 2019:

(In millions)	September 30, 2020		December 31, 2019
Raw materials	$	58.6	$	64.2
In process	43.0		55.7
Finished products	120.4		154.4
Other	33.7		35.6
Total inventory	$	255.7	$	309.9

During the three months ended June 30, 2020, Grace implemented changes to its Refining Technologies manufacturing operations to improve capital and operating efficiencies. This included key organizational changes and optimization of plant and manufacturing processes at Grace’s three hydroprocessing catalyst manufacturing sites. As a result of these changes, Grace recorded a pre-tax charge of $19.7 million related to a write-off of inventory now deemed obsolete based on the process changes.