Inventories  

in € millions12/31/201612/31/2015
Program rights1,005954
Raw materials and supplies105109
Work in progress124139
Finished goods and merchandise294317
Advance payments157142
1,6851,661

In the financial year 2016, write-downs on inventories were recognized in the amount of €-129 million (previous year: €-139 million). In addition, reversals of write-downs on inventories were recognized in the amount of €119 million (previous year: €116 million). These are due to broadcasting factors for program rights and also increased prices in some markets. As in the previous year, no inventories have been pledged as collateral for liabilities.