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Marriott Corporation, 1981 Annual Report
Image 42
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Marriott International, Inc.. Marriott Corporation, 1981 Annual Report - Image 42. 1981. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. August 9, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/1445/show/1442.

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 42. 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/1442

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 42, 1981, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed August 9, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/1445/show/1442.

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 42
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_053_042.jpg
Transcript on page 28 is more meaningful in evaluating the company's performance and financial condition in an inflationary environment. Statement of Consolidated Income Adjusted for Changing Prices for the year ended January 1,1982 (in thousands of average 1981 dollars) Net income as reported $ 86,136 Constant dollar adjustment for depreciation and amortization of property and equipment (31,348) Constant dollar net income 54,788 Current cost adjustment for depreciation and amortization of property and equipment 16,787 Current cost net income 71,575 Gain from decline in purchasing power of net amounts owed 65,298 Adjusted net income $136,873 Increase in current cost of property and equipment held during the year $ 65,428 Effect of increase in general price level 97,160 Decrease in current costs excluding increase in general price level $ 31,732 At January 1,1982, current cost of inventories was $65,224,000 and current cost of property and equipment (excluding construction in progress), net of accumulated depreciation was $1,264,149,000. 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. Accordingly, cost of sales is already stated in average 1981 dollars. In accordance with Statement of Financial Accounting Standards No. 33, no adjustment has been made to the provision for income taxes. Accordingly, the effective income tax rate increases from 38.0% as reported in the financial statements to 42.5% in the 1981 current cost calculations. (in thousands of average 1981 dollars except per share amounts) Sales Adjusted for constant dollars Net income Adjusted for constant dollars Adjusted for current costs Fully diluted earnings per share Adjusted for constant dollars Adjusted for current costs Shareholders' equity at year end Adjusted for constant dollars Adjusted for current costs Decrease in current costs excluding increases in general price level Constant dollar gain from decline in purchasing power of net amounts owed Cash dividends declared per common share Adjusted for constant dollars Market price per common share at year end Adjusted for constant dollars Average consumer price index Fiscal years 1979 and 1980 restated from amounts previously reported. ncial Data Adjusted for Effects of Changing Prices 1981 1980 For Fiscal Years 1979 1978 1977 $2,000,314 $1,897,004 $1,891,961 $1,742,015 $1,636,371 54,788 71,575 53,150 68,555 66,703 78,664 2.03 2.66 1.93 2.47 1.84 2.17 869,999 722,588 753,996 615,309 874,547 778,954 31,732 92,952 122,387 65,298 77,349 69,051 .25 .23 .21 .18 .04 34.72 272.4 33.47 246.8 20.59 217.4 16.28 195.4 17.20 181.5 40