19. Contract assets

31 Dec 2023
31 Dec 2022
Contract assets56,632192,947
Contract acquisition costs7892,280
Total contract assets57,421195,227

Contract assets relate to FIFA’s past performance under a contract for which the customer has not yet paid consideration or before payment is due. They are transferred to receivables when the right to receive payment becomes unconditional. Contract assets are regularly reviewed for impairment indicators. Significant changes in contract asset balances during the period were as follows:

Contract assets as at 1 January192,94769,113
Transfers from contract assets recognised at the beginning of the period to receivables-192,947-68,931
Increase as a result of changes in the measure of progress56,560192,944
Impairment (loss)/release72-179
Contract assets as at 31 December56,632192,947
Of which current52,933192,947
Of which non-current3,6990
Contract acquisition costs as at 1 January2,28019,610
Costs of obtaining contracts during the year95050,790
Amortisation recognised as cost of providing services during the year-2,441-68,120
Contract cost assets as at 31 December7892,280

FIFA has recognised contract acquisition costs arising from the capitalisation of incremental agency fees. In 2023, these costs were incurred in order to obtain certain contracts with Commercial Affiliates. The contract acquisition costs are amortised in line with the pattern of when services are actually provided to the customers.

Aggregate amount of the transaction price allocated to long-term contracts for the 2023-2026 cycle that are partially or fully unsatisfied as at 31 December3,304,9532,587,972
Of which
– Television broadcasting rights1,732,0001,913,278
– Marketing rights1,446,245602,104
– Licensing rights126,70872,590

The above table includes revenue expected to be recognised in FIFA’s 2023-2026 business cycle ending with the FIFA World Cup™ in 2026 and is related to performance obligations that were unsatisfied during the reporting period. Revenue from unsatisfied performance obligations at 31 December 2023, which is expected to be recognised in the cycle ending in 2030, amounted to USD 1,950 million (as at 31 December 2022: USD 1,174 million). Contracted revenue will be recognised in line with the transfer of control over services as described in Note E.


18. Prepaid expenses and accrued income

20. Inventories