Inventories

in € millions12/31/201712/31/2016
Program rights1,0201,005
Raw materials and supplies102105
Work in progress125124
Finished goods and merchandise279294
Advance payments138157
1,6641,685

In the financial year 2017, write-downs on inventories were recognized in the amount of €-161 million (previous year: €-129 million). In addition, reversals of write-downs on inventories were recognized in the amount of €101 million (previous year: €119 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.

Cost of materials in the amount of €5,487 million (previous year: €5,487 million) includes changes in inventories of work in progress and finished goods of €77 million (previous year: €-123 million), cost for raw materials and supplies of €961 million (previous year: €986 million) and cost for merchandise of €205 million (previous year: €228 million). In addition, the item includes own costs capitalized of €42 million (previous year: €34 million).