Inventory

The components of inventory are summarized as follows:



	As of December 31,
(In millions)	2016		2015
Raw materials	$	170.4	$	213.0
Work in process	698.7		577.6
Finished goods	170.3		143.0
Total inventory	$	1,039.4	$	933.6

Balance Sheet Classification:
Inventory	$	1,001.6	$	893.4
Investments and other assets	37.8		40.2
Total inventory	$	1,039.4	$	933.6

Long-term inventory, which primarily consists of work in process, is included in investments and other assets in our consolidated balance sheets.

As of December 31, 2015, our inventory included $24.7 million associated with our ZINBRYTA program, $24.2 million associated with our FLIXABI program and $18.4 million associated with our BENEPALI program, which had been capitalized in advance of regulatory approval. The European Commission (EC) approved the marketing authorization applications for BENEPALI and FLIXABI, two anti-tumor necrosis factor (TNF) biosimilars, for marketing in the E.U. in January 2016 and May 2016, respectively. In addition, ZINBRYTA was approved for the treatment of relapsing forms of MS in the U.S. in May 2016 and in the E.U. in July 2016. For information on our pre-approval inventory policy, please read Note 1, Summary of Significant Accounting Policies to these consolidated financial statements

Inventory amounts written down as a result of excess, obsolescence, unmarketability or other reasons are charged to cost of sales, and totaled $48.2 million, $41.9 million and $50.6 million for the years ended December 31, 2016, 2015 and 2014, respectively.