Inventories, net

12 Months Ended

Dec. 31, 2014

(6) Inventories, net

Inventories consist of the following:

	December 31,
	2014		2013
	(in millions)
Raw materials	$	104.8	$	111.3
Work-in-process		16.7		19.1
Finished goods		170.1		179.8

	$	291.6	$	310.2

Raw materials, work-in-process and finished goods are net of valuation reserves of $27.3 million and $29.9 million as of December 31, 2014 and 2013, respectively. Finished goods of $16.4 million and $16.7 million as of December 31, 2014 and 2013, respectively, were consigned.

- 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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