Inventories

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consisted of the following:

(Millions of dollars)	June 30, 2020		December 31, 2019
Finished products - First-In, First-Out ("FIFO") basis	$	188.8	$	259.2
Less: Last-In, First-Out ("LIFO") reserve - finished products	(80.1)		(160.8)
Finished products - LIFO basis	108.7		98.4
Store merchandise for resale	142.7		123.0
Materials and supplies	6.3		6.2
Total inventories	$	257.7	$	227.6

At June 30, 2020 and December 31, 2019, the replacement cost (market value) of LIFO inventories exceeded the LIFO carrying value by $80.1 million and $160.8 million, respectively.