9. Inventory

The components of inventory, net of allowance for obsolete, unmarketable or slow-moving inventories, are summarized as follows:

	As of		As of
	July 31,		July 31,
(in millions)	2017		2016
Raw materials	$	62.8	$	68.6
Work in process		41.8		45.6
Finished goods		26.0		31.3
Total inventory	$	130.6	$	145.5

The Company incurred an $8.3 million excess and obsolescence charge related to the write-downs of inventory associated with certain strategic actions taken by the Company in the fourth quarter.