Inventories

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consisted of the following:

(Millions of dollars)	September 30, 2020		December 31, 2019
Finished products - First-In, First-Out ("FIFO") basis	$	203.6	$	259.2
Less: Last-In, First-Out ("LIFO") reserve - finished products	(86.3)		(160.8)
Finished products - LIFO basis	117.3		98.4
Store merchandise for resale	143.9		123.0
Materials and supplies	6.9		6.2
Total inventories	$	268.1	$	227.6

At September 30, 2020 and December 31, 2019, the replacement cost (market value) of LIFO inventories exceeded the LIFO carrying value by $86.3 million and $160.8 million, respectively.