INVENTORIES

3 Months Ended

Mar. 31, 2022

The following table recaps the components of inventory for each period presented:


	March 31, 2022		December 31, 2021
Finished goods	$	462.9	$	429.1
Work in process	91.9		66.9
Raw materials and supplies	491.0		497.2

Inventories	$	1,045.8	$	993.2

All inventories are stated at the lower of cost or net realizable value. We generally use standard costs which include materials, labor, and production overhead at normal production capacity.

Inventories are reviewed at least quarterly for slow-moving and potentially obsolete items using actual inventory turnover and, if necessary, are written down to estimated net realizable value. We have had no material changes in inventory writedowns or slow-moving and obsolete inventory reserves in any of the periods presented