Where programming, sports rights and film rights are acquired for the primary purpose of…

ITV plc (2011)

Section 3 Operating Assets and Liabilities [extract]

Accounting policies [extract]

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Programme rights and other inventory [extract]

Where programming, sports rights and film rights are acquired for the primary purpose of broadcasting, these are recognised within current assets.

Assets are recognised when the Group controls the respective assets and the risks and rewards associated with them.

For acquired programme rights, assets are recognised as payments are made and are recognised in full when the programme is available for transmission. Programmes produced internally, either for the purpose of broadcasting or to be sold in the normal course of the Group"s operating cycle, are recognised within current assets at production cost.

Programme costs and rights, including those acquired under sale and leaseback arrangements, are generally expensed to operating costs in full on first transmission. Film rights, sports rights and certain acquired programmes are expensed over a number of transmissions, reflecting the pattern in which the right is consumed.

Programme costs and rights not yet written-off are included in the statement of financial position at the lower of cost and net realisable value […].

3.1.2 Programme rights and other inventory

The programme rights and other inventory at the year-end are shown in the table below:

2011 £m

2010 £m

Acquired programming









Sports rights










Programme rights and other inventory written down in the year were £5 million (2010: £3 million). There have been no reversals relating to inventory previously written down to net realisable value (2010: £nil).


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