Inventory, LIFO Reserve, Reduction

No definition available.

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- Definition

LIFO Inventory Decrement

+ References

No definition available.

+ Details

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- Definition

The amount of FIFO (first in first out) inventory present at the reporting date when inventory is also valued using different valuation methods.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766

+ Details

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- Definition

Amount by which inventory stated at last-in first-out (LIFO) is less than (in excess of) inventory stated at other inventory cost methods.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.6(c))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

+ Details

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- Definition

The difference between the change in the inventory reserve representing the cumulative difference in cost between the first in, first out and the last in, first out inventory valuation methods and any LIFO decrement which have been reflected in the statement of income during the period.

+ References

No definition available.

+ Details

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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

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- Definition

Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121566466&loc=d3e6676-107765

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.6(a))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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Inventories, Net (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
Inventories, Net (Details) - USD ($) $ in Millions	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Inventory [Line Items]
Inventories at FIFO, net of reserves	$ 993.9				$ 875.6				$ 993.9	$ 875.6
Less: LIFO reserve	(235.4)				(204.7)				(235.4)	(204.7)
Total inventories, net of reserves	758.5				670.9				758.5	670.9
LIFO expense	9.2	$ 5.4	$ 8.3	$ 7.8	5.9	$ 7.3	$ 7.4	$ 7.0	30.7	27.6	$ 25.2
LIFO decrement									20.1	20.3
Reduction in LIFO expense									0.7	2.8
United States
Inventory [Line Items]
Less: LIFO reserve	$ (235.4)				$ (204.7)				$ (235.4)	$ (204.7)