Inventories

3 Months Ended

Mar. 29, 2025

Inventories by major classification are as follows:


(Amounts in millions)	March 29, 2025		December 28, 2024
Finished goods	$	854.0	$	840.1
Work in progress	75.8		72.5
Raw materials	154.5		153.2
Total FIFO value	1,084.3		1,065.8
Excess of current cost over LIFO cost	(123.1)		(122.4)
Total inventories – net	$	961.2	$	943.4

Inventories accounted for using the first-in, first-out (“FIFO”) method approximated 59% and 57% of total inventories as of March 29, 2025, and December 28, 2024, respectively. The company accounts for its non-U.S. inventory on the FIFO method. As of March 29, 2025, approximately 37% of the company’s U.S. inventory was accounted for using the FIFO method and 63% was accounted for using the last-in, first-out (“LIFO”) method. There were no LIFO inventory liquidations in the three month periods ended March 29, 2025, and March 30, 2024.