Inventory

9 Months Ended

Sep. 30, 2019

The components of inventory are summarized as follows:



(In millions)	As of September 30, 2019		As of December 31, 2018
Raw materials	$	159.3	$	196.3
Work in process	421.7		606.7
Finished goods	170.8		133.5
Total inventory	$	751.8	$	936.5

Balance Sheet Classification:
Inventory	$	751.8	$	929.9
Investments and other assets	—		6.6
Total inventory	$	751.8	$	936.5

In the first quarter of 2019 we sold to Bioverativ hemophilia-related inventory on hand with a cost basis totaling $173.5 million pursuant to the terms of the manufacturing and supply agreement with Bioverativ entered into in connection with the spin-off of our hemophilia business.

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

Divestiture of Hillerød, Denmark Manufacturing Operations

On August 1, 2019, we completed our sale of all of the outstanding shares of our subsidiary that owned our biologics manufacturing operations in Hillerød, Denmark to FUJIFILM. This transaction included the sale of $14.0 million of work in process inventory.

In addition, we sold to FUJIFILM approximately $41.8 million of raw materials that were remaining at the Hillerød facility on the closing date of this transaction. These materials were sold at cost, which approximates fair value.

For additional information on the divestiture of our Hillerød, Denmark manufacturing operations, please read Note 3, Divestitures, to these condensed consolidated financial statements.