Inventories, net

12 Months Ended

Dec. 31, 2015

(7) Inventories, net

Inventories consist of the following:

	December 31,
	2015		2014
	(in millions)
Raw materials	$	88.5	$	104.8
Work-in-process		15.2		16.7
Finished goods		136.3		170.1

	$	240.0	$	291.6

Raw materials, work-in-process and finished goods are net of valuation reserves of $28.6 million and $27.3 million as of December 31, 2015 and 2014, respectively. Finished goods of $14.8 million and $16.4 million as of December 31, 2015 and 2014, respectively, were consigned.