星空传媒 Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

INVENTORIES

INVENTORIES

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

听

Inventories

NOTE 4 - INVENTORIES

The following table presents the detail of our Inventories in the Statements of Consolidated Financial Position:



听	听	(In Millions)
听	听	December 31,
听	听	2019		听	2018
Product inventories	听	听		听	听
Finished goods	听	$	114.1	听	$	77.8
Work-in-process	听	68.7		听	10.1
Total product inventories	听	182.8		听	87.9
Supplies and other inventories	听	134.6		听	93.2
Inventories	听	$	317.4	听	$	181.1

The excess of current cost over LIFO cost of iron ore inventories was $101.3 million and $95.6 million at December听31, 2019 and 2018, respectively. As of December听31, 2019, the product inventory balance for the Mining and Pelletizing segment increased, resulting in a LIFO increment in 2019. The effect of the inventory build was an increase in Inventories of $34.2 million in the Statements of Consolidated Financial Position for the year ended December听31, 2019. As of December听31, 2018, the product inventory balance for the Mining and Pelletizing segment declined, resulting in the liquidation of a LIFO layer in 2018. The effect of the inventory reduction was a decrease in Cost of goods sold and operating expenses of $0.2 million in the Statements of Consolidated Operations for the year ended December听31, 2018.

The allowance for obsolete and surplus items in supplies and other inventories was $12.7 million and $12.6 million at December听31, 2019 and 2018, respectively.