Inventory

The components of inventory are summarized as follows:



(In millions)	As of June 30, 2017		As of December 31, 2016
Raw materials	$	148.3	$	170.4
Work in process	629.3		698.7
Finished goods	184.2		170.3
Total inventory	$	961.8	$	1,039.4

Balance Sheet Classification:
Inventory	$	936.5	$	1,001.6
Investments and other assets	25.3		37.8
Total inventory	$	961.8	$	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 June 30, 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 related to work in process and finished goods inventory totaled $84.5 million and $31.6 million, respectively.