INVENTORIES, NET

9 Months Ended

Sep. 26, 2020

Inventory Disclosure [Abstract]

INVENTORIES, NET

INVENTORIES, NET

Inventories at September 26, 2020 and December 31, 2019 comprised the following:

	September 26, 2020		December 31, 2019
Finished goods	$	63.5	$	57.6
Work in process	23.2		19.3
Raw materials and purchased parts	105.6		90.3
Total FIFO cost	192.3		167.2
Excess of FIFO cost over LIFO inventory value	(13.0)		(12.3)
Total inventories, net	$	179.3	$	154.9

Inventories include material, labor and factory overhead costs and are reduced, when necessary, to estimated net realizable values. Certain inventories are valued using the last-in, first-out (“LIFO”) method. These inventories were approximately 39% and 36% of total inventory at September 26, 2020 and December 31, 2019, respectively. Other inventories are valued using the first-in, first-out (“FIFO”) method.