INVENTORIES

12 Months Ended

Dec. 31, 2016

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

Inventories consist of the following (in millions):

	December 31,
	2016		2015
Finished equipment	$	334.7	$	429.1
Replacement parts	144.9		168.3
Work-in-process	175.4		190.4
Raw materials and supplies	198.8		275.8
Inventories	$	853.8	$	1,063.6

Reserves for lower of cost or market value, excess and obsolete inventory were $83.3 million and $76.8 million at December 31, 2016 and 2015, respectively.