Inventories

12 Months Ended

Dec. 31, 2019

Inventories [Abstract]

Inventories

Note 6:  Inventories

Inventories as of December 31, 2019 and 2018 consisted of the following.

	2019		2018
Raw materials, including parts and subassemblies	$	370.5	$	369.2
Work-in-process		47.6		58.1
Finished goods		71.4		83.4
		489.5		510.7
Excess of LIFO costs over FIFO costs		13.0		13.2
Inventories	$	502.5	$	523.9

As of December 31, 2019, $371.3 million (74%) of the Company’s inventory is accounted for on a first-in, first-out (“FIFO”) basis and the remaining $131.2 million (26%) is accounted for on a last-in, first-out (“LIFO”) basis.

As of December 31, 2018, $390.8 million (75%) of the Company’s inventory is accounted for on a first-in, first-out (“FIFO”) basis and the remaining $133.1 million (25%) is accounted for on a last-in, first-out (“LIFO”) basis.