Inventories:

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



	As of December 31,
	2015			2014
Finished goods	$	300.0		$	338.2
Work in process	4.2			8.1
Raw materials and parts	178.3			182.6
Total	482.5			528.9
Excess of current cost over last-in, first-out cost	(63.7		)	(65.6		)
Total inventories, net	$	418.8		$	463.3

The Company recorded pre-tax loss of $0.2 million in 2015, pre-tax loss of 0.9 million in 2014 and pre-tax income of $0.3 million in 2013 from LIFO inventory liquidations.