Inventories

6 Months Ended

Jun. 30, 2019

Inventory Disclosure [Abstract]

Inventories

6.

Inventories

Inventories are valued at the lower of cost or market. Inventories at June 30, 2019 and December 31, 2018 consisted of the following:

	June 30, 2019			December 31, 2018
Inventories carried at LIFO:
Finished goods	$	52.7		$	48.6
Raw materials, production parts and work-in-process	33.2			28.6
Excess of FIFO over LIFO cost(a)	(31.4		)	(31.2		)
Total LIFO inventories	54.5			46.0
Inventories carried at FIFO:
Finished goods	63.1			53.5
Raw materials, production parts and work-in-process	41.9			35.6
Total FIFO inventories	105.0			89.1
Total inventories	$	159.5		$	135.1

^(a)  

Inventories of $54.5 million as of June 30, 2019, and $46.0 million as of December 31, 2018, were valued at LIFO. The difference between replacement cost and the stated LIFO inventory value is not materially different from the reserve for the LIFO valuation method.