Inventories at June 30, 2013 and December 31, 2012 were as follows:
    June 30, 2013       December 31, 2012
Finished goods $ 818.6 $ 598.5
Repair and replacement parts 567.8 505.6
Work in process 145.3 137.5
Raw materials 511.3   461.5
Inventories, net $ 2,043.0   $ 1,703.1


At June 30, 2013 and December 31, 2012, the Company had accounts receivable sales agreements that permit the sale, on an ongoing basis, of a majority of its wholesale receivables in North America and Europe to its 49% owned U.S., Canadian and European retail finance joint ventures. As of June 30, 2013 and December 31, 2012, the cash received from receivables sold under the U.S., Canadian and European accounts receivable sales agreements was approximately $1.3 billion and $1.1 billion, respectively.

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