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INVENTORIES

12 Months Ended

Dec. 29, 2012



(Millions of Dollars)	2012		2011
Finished products	$	962.6	$	914.7
Work in process	124.1		134.8
Raw materials	229.9		221.4
Total	$	1,316.6	$	1,270.9

Net inventories in the amount of $401.3 million at December 29, 2012 and $415.2 million at December 31, 2011 were valued at the lower of LIFO cost or market. If the LIFO method had not been used, inventories would have been $49.3 million higher than reported at December 29, 2012 and $61.3 million higher than reported at December 31, 2011.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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