Image capture apparatus that records video signal captured at variable frame rate as moving image data, method of controlling same, and storage medium

An image capture apparatus capable of reproducing or outputting moving image data at a rate corresponding to the real time even if the frame rate is changed during recording of a time code adapted to a high frame rate. A time code to be added to each frame of moving image data is generated. The time code includes a type for differentiating between frames at a high-frame rate. The time code is added to each frame of the moving image data. An image-capturing frame rate of the moving image data is changed according to a frame rate-changing request from a user. The image-capturing frame rate of the moving image data is changed at a timing at which the value of sub frame of the time code becomes zero.