No, it's mainly 'taken up' by the way the capacities of discs are described. The disc manufacturers us the base 10 in their description, but computers use the base 2 (binary). I'll use kilobytes for the following example to keep the numbers smaller, but the same principle extends to Mb, Gb and Tb. A manufacturer will describe a drive that contains 1000 bytes as 1kb (10 to the power of 3), but as computers use base 2, their 1kb is actually 1024 bytes (2 to the power of 10). So the 1kb (manuf) disc is actually 1000/1024=976(approx.) bytes, hence the smaller size reported by the formatting process.