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Inventory

12 Months Ended

Dec. 31, 2013

INVENTORIES

The classes of inventory as of December 31 are summarized as follows ($ in millions):



	2013		2012
Finished goods	$	885.9	$	899.9
Work in process	287.0		291.2
Raw materials	610.6		622.3
Total	$	1,783.5	$	1,813.4

As of December 31, 2013 and 2012, the difference between inventories valued at LIFO and the value of that same inventory if the FIFO method had been used was not significant. The liquidation of LIFO inventory did not have a significant impact on the Company’s results of operations in any period presented.

- 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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