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Inventories

3 Months Ended

Mar. 31, 2012

4. Inventories

Inventories are stated at the lower of cost or market, and cost is determined using FIFO. Inventories consisted of the following at March 31, 2012 and December 31, 2011:

(In millions)	March 31, 2012		December 31, 2011

Raw materials	$	83.7	$	63.1
In process		70.6		48.7
Finished products		171.6		185.9
Other		32.6		31.4

	$	358.5	$	329.1

- Definition

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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