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Marriott Corporation, 1981 Annual Report
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Marriott International, Inc.. Marriott Corporation, 1981 Annual Report - Image 41. 1981. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. October 29, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/1445/show/1441.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Marriott International, Inc.. (1981). Marriott Corporation, 1981 Annual Report - Image 41. Annual Reports from the Hospitality Industry Archives. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. Retrieved from https://digital.lib.uh.edu/collection/hiltonar/item/1445/show/1441

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Marriott International, Inc., Marriott Corporation, 1981 Annual Report - Image 41, 1981, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed October 29, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/1445/show/1441.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

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Compound Item Description
Title Marriott Corporation, 1981 Annual Report
Creator (LCNAF)
  • Marriott International, Inc.
Publisher Marriott International, Inc.
Date 1981
Description Marriott Corporation Annual Report for calendar year 1981.
Subject.Topical (LCSH)
  • Hospitality industry
  • Hotel management
  • Corporation reports
Subject.Name (LCNAF)
  • Marriott International, Inc.
Genre (AAT)
  • annual reports
  • business records
Language English
Type (DCMI)
  • Text
  • Image
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
Item Description
Title Image 41
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_053_041.jpg
Transcript Consolidated Shareholders' Equity Changes in consolidated shareholders' equity for the fiscal years ended January 1,1982, January 2,1981 and December 28,1979, were as follows: Common Deferred Stock Stock ($1.00 par Capital Compensation Retained, Treasury value) Surplus and Other Earnings Stock (in thousands) Balance, December 29,1978 $36,891 $224,915 $6,350 $152,555 $ (2,055) Net income — _ _ 71,000 _ Common stock issued for employee stock purchase and stock option plans — (326) — — 2,616 Purchase of treasury stock — — — — (74,187) Cash dividends ($ .17 per share) — — — (5,776) — Deferred stock compensation 9 (82) 1,320 — 247 Other — 26 — — — Balance, December 28,1979 36,900 224,533 7,670 217,779 (73,379) Net income _ _ — 72,030 _ Common stock issued for employee stock purchase and stock option plans — (2,407) — _ 9,303 Purchase of treasury stock — — — — (184,756) Retirement of treasury stock (7,475) (109,431) — (60,607) 177,513 Cash dividends ($ .21 per share) — — — (5,252) — Deferred stock compensation (1) 75 837 — 727 Other — 4,817 — — 2,629 Balance, January 2,1981 29,424 117,587 8,507 223,950 (67,963) Net income _ _ _ 86,136 _ Common stock issued— Employee stock purchase and stock option plans — 73 — — 4,127 Conversion of convertible subordinated debentures _ 12,356 _ — 12,664 Cash dividends ($ .255 per share) _ _ _ (6,571) _ Deferred stock compensation — 348 1,601 _ 428 Cumulative foreign currency translation adjustments — — (1,900) — — Other — 1,185 — — (223) Balance, January 1,1982 $29,424 $131,549 $8,208 $303,515 $ (50,967) Quarterly Financial Results (Unaudited) The following is a summary of selected quarterly financial data for fiscal years 1981 and 1980 (in thousands except per share amounts): 1981 Sales Income Before Income Taxes $ 23,784 36,497 45,365 33,383 $139,029 F Net Income $14,367 21,823 28,210 21,736 $86,136 $12,655 17,202 25,263 16,910 $72,030 ully Diluted Earnings Per Share First Second Third Fourth Year $ 412,536 463,624 503,431 620,723 $2,000,314 $ 350,441 389,196 436,480 542,608 $1,718,725 $ .54 .81 1.05 .81 $3.20 1980 First Second Third Fourth Year $ 21,447 28,796 42,515 27,330 $120,088 $ .40 .65 .95 .64 $2.60 Each of the first three quarters consists of 12 weeks, while the fourth quarter includes 16 weeks in 1981 and 17 weeks in 1980. The sum of the earnings per share for the four quarters is different from the annual earnings per share as a result of computing the quarterly and annual amounts on the weighted average number of shares in the respective periods. The effect of adopting SFAS No. 52, Foreign Currency Translation, has been recorded in the fourth quarter of 1981. The first three quarters of 1981 have not been restated as the effect is not material. Constant Dollar and Current Cost Information (Unaudited) The following tables are required by Statement of Financial Accounting Standards No. 33. They adjust historical cost financial information for changes in the general purchasing power of the dollar as measured by the Consumer Price Index and for changes in the specific prices of resources utilized in the company's operations. The information below demonstrates that during 1981 the company's specific prices for property and equipment increased at a slower rate than general price levels. However, this information distorts economic performance because historical cost depreciation is further increased for changes in general price levels; whereas the company's real estate-based assets require less annual capital reinvestment than is provided by historical cost depreciation. Accordingly, management believes that the Current Value information 39