Inventories

6 Months Ended

Jun. 28, 2026

Inventories at June 28, 2026 and December 28, 2025 were as follows:


(in millions)
	June 28, 2026		December 28, 2025
Raw materials and supplies	$	336.7	$	245.6
Work-in-process	1,344.3		1,137.4
Finished goods	103.7		100.6
	1,784.7		1,483.6
Inventory valuation reserves	(117.2)		(80.4)
Total inventories, net	$	1,667.5	$	1,403.2

Inventories are stated at the lower of cost (first-in, first-out (FIFO) and average cost methods) or net realizable value.