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| Title | Marriott Corporation, 1980 Annual Report |
| Creator (LCNAF) |
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| Publisher | Marriott International, Inc. |
| Date | 1980 |
| Description | Marriott Corporation Annual Report for calendar year 1980. |
| Subject.Topical (LCSH) |
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| Subject.Name (LCNAF) |
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| Genre (AAT) |
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| Language | English |
| Type (DCMI) |
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| Original Item Location | Marriott Hotels Collection |
| Digital Collection | Annual Reports from the Hospitality Industry Archives |
| Digital Collection URL | http://digital.lib.uh.edu/collection/hiltonar |
| Repository | Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston |
| Repository URL | http://www.uh.edu/hilton-college/About/hospitality-industry-archives |
| Use and Reproduction | No Copyright - United States |
| File Name | index.cpd |
| Title | Image 36 |
| Format (IMT) |
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| File Name | hiltonar_201609_052_036.jpg |
| Transcript | Statement of Consolidated Income Adjusted for Changing Prices For the year ended lanuary 2, 1981 (in thousands of average 1980 dollars) Net income as reported $ 72,030 Constant dollar adjustments Cost of sales (5.793) Depreciation and amortization of property and equipment (24,877) Constantdollar net income 41,360 Current cost adjustments Cost of sales 5,793 Depreciation and amortization of property and equipment (14,432) Current cost net income $ 32,721 Constant dollar gain from decline in purchasing power of net amounts owed $ 70,080 Increase in current cost of inventories and property and equipment held during the year $ 74,961 Effect of increase in general price level 127,340 Decrease in current costs excluding increase in general price level $ 52,379 At January 2, 1981, current cost of inventory was $52,707 and current cost of property and equipment (excluding construction in progress), net of accumulated depreciation was $ 1,050,849. Current cost is based on the company's estimate of the cost of reproducing selected representative major facilities. Current cost of leasehold improvements is estimated using appropriately indexed historical costs. Current cost for the balance of the company's service potential, primarily furniture and equipment is derived from vendor quotations, published price lists or indexed historical costs. The company's inventory turns over rapidly and thus its cost is current In accordance with Financial Accounting Standard No. 33, no adjustment has been made to the provision for income taxes. Accordingly, the effective income tax rate increases from 40.0% as reported in the financial statements to 59.5% in the 1980 current cost calculations. Five Year Comparison of Selected Supplementary Financial Data Adjusted for Effects of Changing Prices (in thousands of average 1980 dollars except per share amounts) 1980 1979 1978 1977 1976 Revenues Adjusted for constant dollars 51.718,725 $1,714,155 $1,578,301 $1,482,585 $1,370,375 Net income Adjusted for constant dollars 41.360 53.470 Adjusted for current costs 32,721 42,418 Fully diluted earnings per share Adjusted for constant dollars 1.50 1.48 Adjusted for current costs 1.19 1.18 Shareholders' equity at year end Adjusted for constant dollars 689,776 785,608 Adjusted for current costs 569.314 702,555 Decrease in current costs excluding increases in general price level 52,379 85,643 Constant dollar gain from decline in purchasing power of net amounts owed 70,080 62,562 Cash dividends declared per common share Adjusted for constant dollars .21 .19 .16 .04 Market price per common share at year end Adjusted for constant dollars 30.32 18.66 14.75 15.58 19.17 Average consumer price index 246i 217.4 195.4 181.5 170.5 32 |