TIME WARNER INC. | 2013 | FY | 3


6. INVENTORIES AND THEATRICAL FILM AND TELEVISION PRODUCTION COSTS

 

Inventories and theatrical film and television production costs consist of (millions):

   December 31, 2013 December 31, 2012
 Inventories:      
 Programming costs, less amortization $ 3,738 $ 3,817
 DVDs, Blu-ray Discs, books, paper and other merchandise   325   326
 Total inventories   4,063   4,143
 Less: current portion of inventory   (2,028)   (2,036)
 Total noncurrent inventories   2,035   2,107
        
 Theatrical film production costs:(a)      
 Released, less amortization   500   597
 Completed and not released   246   174
 In production   1,480   1,770
 Development and pre-production   107   106
        
 Television production costs:(a)      
 Released, less amortization   1,094   1,034
 Completed and not released   536   396
 In production   694   487
 Development and pre-production   7   4
 Total theatrical film and television production costs   4,664   4,568
 Total noncurrent inventories and theatrical film and television production costs $ 6,699 $ 6,675
 _____________      

(a)        Does not include $958 million and $1.107 billion of acquired film library intangible assets as of December 31, 2013 and December 31, 2012, respectively, which are included in Intangible assets subject to amortization, net in the Consolidated Balance Sheet.

Approximately 92% of unamortized film costs for released theatrical and television product are expected to be amortized within three years from December 31, 2013. In addition, approximately $1.7 billion or 72% of the film costs of released and completed and not released theatrical and television product are expected to be amortized during the twelve-month period ending December 31, 2014.

 


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