Inventory

The components of inventory are summarized as follows:



(In millions)	As of March 31, 2017		As of December 31, 2016
Raw materials	$	158.2	$	170.4
Work in process	644.4		698.7
Finished goods	156.8		170.3
Total inventory	$	959.4	$	1,039.4

Balance Sheet Classification:
Inventory	$	921.6	$	1,001.6
Investments and other assets	37.8		37.8
Total inventory	$	959.4	$	1,039.4

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

Balances in the table above as of March 31, 2017, also reflect the elimination of certain amounts transferred to Bioverativ in connection with the completion of the spin-off of our hemophilia business. Balances transferred to Bioverativ were related to work in process and finished goods inventory, totaled $84.5 million and $31.6 million, respectively.