Investments in Productions

9 Months Ended

Sep. 28, 2025

Investments in productions are predominantly monetized on a title-by-title basis and are recorded within Other assets in the Company's Consolidated Balance Sheet to the extent they are considered recoverable against future revenues. These amounts are being amortized to program cost amortization using a model that reflects the consumption of the asset as it is released through various channels including broadcast licenses, theatrical release and home entertainment. Amounts capitalized are reviewed periodically on an individual title basis and any portion of the unamortized amount that appears not to be recoverable from future net revenues is expensed as part of program cost amortization during the period the loss becomes evident.

The Company's unamortized investments in productions consisted of the following:


	September 28, 2025		September 29, 2024		December 29, 2024
Investment in Films and Television Programs:
Individual Monetization
Released, net of amortization	$	60.7	$	73.7	$	62.4

In production	1.8		12.3		10.8
Pre-production	8.6		4.8		7.4
	71.1		90.8		80.6
Film/TV Group Monetization
Released, net of amortization	30.3		42.5		37.5



Investment in Other Programming
Released, net of amortization	7.6		5.0		6.0

In production	1.4		5.9		0.7
Pre-production	0.1		0.9		—
	9.1		11.8		6.7
Total Program Investments	$	110.5	$	145.1	$	124.8

The Company's program cost amortization that related to investments in production that were released during the three and nine months ended September 28, 2025 were $7.4 million and $21.0 million, respectively. The Company's program cost amortization that related to investments in production that were released during the three and nine months ended September 29, 2024 were $7.9 million and $24.5 million, respectively.