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

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

Does not include $366 million and $397 million of net intangible film library costs as of June 30, 2013 and 2012, respectively, which are included in intangible assets subject to amortization in the consolidated balance sheets. (See Note 10 – Goodwill and Other Intangible Assets)
Current inventory from discontinued operations as of June 30, 2012 was $246 million. Current inventory from continuing operations as of June 30, 2013 and 2012 was comprised of programming rights ($2,715 million and $2,279 million, respectively), DVDs, Blu-rays, and other merchandise.

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.

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

us-gaap:InventoryDisclosureTextBlock