Inventories

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories

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

	As of December 31,
	2024		2023
Finished goods	$	422.6	$	509.4
Work in process	11.0		9.6
Raw materials and parts	410.7		314.2
Total	844.3		833.2
Excess of current cost over last-in, first-out cost	(139.5)		(134.1)
Total inventories, net	$	704.8	$	699.1

The Company recorded a pre-tax gain of $0.2 million in 2024 from LIFO liquidations. There were no pre-tax gains in 2023 or 2022 from LIFO inventory liquidations. Obsolete and slow-moving inventories were $55.8 million and $40.2 million as of December 31, 2024 and December 31, 2023, respectively.