Notes to Financial Statements

NOTE 8—Inventories

The following is a summary of inventories by major category at December 31 (in millions):



Inventories valued using the LIFO method amounted to $149.3 million and $152.7 million at December 31, 2000 and 1999, respectively, which were below estimated replacement cost by approximately $26.7 million and $24.1 million for the years ended December 31, 2000 and 1999, respectively.