Inventory

The components of inventory are summarized as follows:



	As of December 31,
(In millions)	2017		2016
Raw materials	$	162.4	$	170.4
Work in process	605.7		698.7
Finished goods	157.4		170.3
Total inventory	$	925.5	$	1,039.4

Balance Sheet Classification:
Inventory	$	902.7	$	1,001.6
Investments and other assets	22.8		37.8
Total inventory	$	925.5	$	1,039.4

Balances in the table above as of December 31, 2017 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. For additional information on the spin-off of our hemophilia business, please read Note 3, Hemophilia Spin-Off, to these consolidated financial statements.

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

Inventory amounts written down as a result of excess, obsolescence, unmarketability or other reasons are charged to cost of sales, and totaled $76.9 million, $48.2 million and $41.9 million for the years ended December 31, 2017, 2016 and 2015, respectively.