Time Magazine 2009 Annual Report Download - page 101

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5. INVENTORIES AND FILM COSTS
Inventories and film costs consist of (millions):
December 31, 2009 December 31, 2008
Inventories:
Programming costs, less amortization ................. $ 3,241 $ 3,206
DVDs, books, paper and other merchandise ............. 332 408
Total inventories
(a)
................................. 3,573 3,614
Less: current portion of inventory ...................... (1,779) (1,842)
Total noncurrent inventories .......................... 1,794 1,772
Film costs — Theatrical:
Released, less amortization ......................... 622 767
Completed and not released ......................... 282 364
In production . .................................. 1,228 713
Development and pre-production ..................... 157 76
Film costs — Television:
Released, less amortization ......................... 1,101 922
Completed and not released ......................... 166 224
In production . .................................. 421 499
Development and pre-production ..................... 6 2
Total film costs. . .................................. 3,983 3,567
Total noncurrent inventories and film costs ............... $ 5,777 $ 5,339
(a)
Does not include $1.764 billion and $2.160 billion of net film library costs as of December 31, 2009 and December 31, 2008, respectively,
which are included in intangible assets subject to amortization in the consolidated balance sheet.
Approximately 90% of unamortized film costs for released theatrical and television product are expected to be
amortized within three years from December 31, 2009. In addition, approximately $1.4 billion 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, 2010.
89
TIME WARNER INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)