Inventories

12 Months Ended

Dec. 31, 2019

Inventory, Net [Abstract]

Inventories

INVENTORIES

Depending on the business, U.S. inventories are stated at the lower of cost or market using the LIFO method or the lower of cost or market using the FIFO method. Non-U.S. inventories are primarily stated at the lower of cost or market using the FIFO method.

At December 31, the major classes of inventory were as follows:

In millions	2019			2018
Raw materials	$	613.1		$	550.5
Work-in-process	209.2			182.0
Finished goods	975.5			1,028.8
	1,797.8			1,761.3
LIFO reserve	(85.6		)	(83.5		)
Total	$	1,712.2		$	1,677.8

The Company performs periodic assessments to determine the existence of obsolete, slow-moving and non-saleable inventories and records necessary provisions to reduce such inventories to net realizable value. Reserve balances, primarily related to obsolete and slow-moving inventories, were $126.4 million and $119.9 million at December 31, 2019 and December 31, 2018, respectively.