Investments in Productions and Investments in Acquired Content Rights

9 Months Ended

Sep. 26, 2021

Other Industries [Abstract]

Investment in Productions and Investments in Acquired Content Rights

Investments in Productions and Investments in Acquired Content RightsInvestments in productions and investments in acquired content rights are predominantly monetized on a title-by-title basis and are recorded within other assets in the Company's consolidated balance sheets, to the extent they are considered recoverable against future revenues. These amounts are being amortized to program cost amortization using a model that reflects the consumption of the asset as it is released through various channels including broadcast licenses, theatrical release and home entertainment. Amounts capitalized are reviewed periodically on an individual film basis and any portion of the unamortized amount that appears not to be recoverable from future net revenues is expensed as part of program cost amortization during the period the loss becomes evident.

The Company's unamortized investments in productions and investments in acquired content rights consisted of the following at September 26, 2021, September 27, 2020, and December 27, 2020:

	September 26, 2021		September 27, 2020		December 27, 2020
Film and TV Programming
Released, net of amortization	$	512.6	$	477.3	$	428.0
Completed and not released	20.1		18.1		17.3
In production	202.1		51.0		185.5
Pre-production	91.9		41.1		67.6
	826.7		587.5		698.4
Other Programming
Released, net of amortization	3.9		11.5		13.7
Completed and not released	0.4		3.4		2.1
In production	5.9		9.1		5.4
Pre-production	2.5		8.0		7.6
	12.7		32.0		28.8
Total Program Investments	$	839.4	$	619.5	$	727.2

The Company recorded $396.1 million of program cost amortization related to released programming in the nine months ended September 26, 2021, consisting of the following:

	Investment in Production		Investment in Content		Other		Total
Program cost amortization	$	334.6	$	59.9	$	1.6	$	396.1