Inventories

12 Months Ended

Dec. 31, 2020

Inventories consist of the following:


	December 31,
(in millions)	2020		2019
Raw materials and parts	$	154.6	$	160.9
Work-in-process	57.3		61.3
Finished goods	34.0		53.6
Used equipment	3.8		18.7
Total	$	249.7	$	294.5

During the year ended December 31, 2020, in conjunction with exiting the oil and gas drilling product lines, Enid's inventories were written down by $4.4 million, which was reported within "Cost of sales" in the Company's Consolidated Statements of Operations.

In the fourth quarter of 2019, through the Company’s assessment of the age, quantities on hand, market acceptance of the equipment, the Company’s exit of the Enid oil and gas drilling product lines and other related factors, it was determined that various specific equipment models at each of the Company’s sites and certain other inventories required increases to their net realizable value reserves. As such, during the fourth quarter of 2019, the Company recorded an inventory write-down of $32.6 million within "Cost of sales" in the Consolidated Statements of Operations.