Inventories  

in € millions12/31/201512/31/2014
Program rights954897
Raw materials and supplies109114
Work in progress139131
Finished goods and merchandise317315
Advance payments142133
1,6611,590

In the financial year 2015, write-downs on inventories were recognized in the amount of €-139 million (previous year: €-145 million). In addition, reversals of write-downs on inventories were recognized in the amount of €116 million (previous year: €128 million). These are due to broadcasting factors for program rights and also increased prices on some markets. As in the previous year, no inventories have been pledged as collateral for liabilities.