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Inventories

12 Months Ended

Dec. 31, 2012

Inventories:

The components of inventories are as follows (in millions):



	As of December 31,
	2012			2011
Finished goods	$	258.0		$	222.3
Work in process	12.0			13.2
Raw materials and parts	180.1			156.3
	450.1			391.8
Excess of current cost over last-in, first-out cost	(75.3		)	(73.9		)
Total inventories, net	$	374.8		$	317.9

The Company recorded pretax loss of $0.1 million during 2012 and pretax income of $0.1 million and $0.7 million during 2011 and 2010, respectively, from LIFO inventory liquidations.

- 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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