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Inventories

3 Months Ended

Mar. 31, 2015

Inventories. Sugar inventories are stated at the lower of cost (first-in, first-out basis) or market value. Materials and supplies and Materials and Construction segment inventory are stated at the lower of cost (principally average cost, first-in, first-out basis) or market value.

Inventories at March 31, 2015 and December 31, 2014 were as follows (in millions):



	March 31, 2015		December 31, 2014
Sugar inventories	$	6.3	$	23.3
Work in process - sugar	24.6		—
Asphalt	20.4		21.3
Processed rock, portland cement, and sand	14.6		15.7
Work in process	3.0		2.8
Retail merchandise	1.6		1.5
Parts, materials and supplies inventories	14.6		17.3
Total	$	85.1	$	81.9

- 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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