TWENTY-FIRST CENTURY FOX, INC. | 2013 | FY | 3


NOTE 6. INVENTORIES

 

The Company's inventories were comprised of the following:

   As of June 30,
   2013 2012
   (in millions)
        
Programming rights$ 4,996 $ 4,285
DVDs, Blu-rays, and other merchandise  69   70
Filmed entertainment costs:     
 Films:     
  Released  806   846
  Completed, not released  10   135
  In production  958   502
  In development or preproduction  193   140
     1,967   1,623
 Television productions:     
  Released  696   561
  In production  425   370
  In development or preproduction  2   4
     1,123   935
Total filmed entertainment costs, less accumulated amortization(a)  3,090   2,558
Total inventories, net from continuing operations  8,155   6,913
Total inventories, net from discontinued operations  -    278
Total inventories, net  8,155   7,191
Less: current portion of inventories, net (b)  (2,784)   (2,595)
 Total noncurrent inventories$ 5,371 $ 4,596

As of June 30, 2013, the Company estimated that approximately 63% of unamortized filmed entertainment costs from the completed films are expected to be amortized during fiscal 2014 and approximately 94% of released filmed entertainment costs will be amortized within the next three fiscal years. During fiscal 2014, the Company expects to pay $1,112 million in accrued participation liabilities, which are included in Participations, residuals and royalties payable in the consolidated balance sheets. As of June 30, 2013, acquired film and television libraries had remaining unamortized film costs of $34 million, which are generally amortized using the individual film forecast method over a remaining period of approximately 5-8 years.


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