Inventories

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

6. INVENTORIES

We state our inventories at the lower of cost or net realizable value.  The cost of our inventories is determined using the first-in first-out method.  When we determine that our gross inventories exceed usage requirements, or if inventories become obsolete or otherwise not saleable, we record a provision for such loss as a component of our inventory accounts.

Inventories consist of the following: 

	September 30, 2019			December 31, 2018
	(in millions)
Raw materials and work-in-progress	$	337.3		$	375.1
Finished goods	88.0			99.0
Gross inventories	425.3			474.1
Inventory valuation reserves	(22.2		)	(14.4		)
Inventories, net	$	403.1		$	459.7