Consolidated Source and Application of Funds
Marriott Corporation and Subsidiaries for the 53 Weeks Ended July 31, 1970 and the 52 Weeks Ended July 27, 1969
WORKING CAPITAL, Beginning of year A *
SOURCE OF FUNDS:
Income before extraordinary items. j§p «P*» • ■---.
Depreciation and amortization Slfill^M.
Deferred income taxes •&?: ■-IflP*?''" • '^iSr
Deferred stock compensation V m jt « -t.
Extraordinary gains on sale of properties .figK -Ilfll
Mortgages and notes pL
Lease-purchase obligations fi|l||j
Interim construction financing covered by:
Mortgage loan commitments 'jj&fll^
Bank loan commitments ,'jlfL
Convertible subordinated debt I& -;l|§j:
Mortgages and notes '... ,f,
Lease-purchase obligations is§f -S^:-
From financing :ifft-
Capital stock, at quoted market, issued under Employee Stock Purchase Plan .
Miscellaneous >Jh 4WX
Total Sources 4ht '
APPLICATION OF FUNDS:
Additions to fixed assets, net of dispositions
Additions to leasehold interest, net of dispositions.
Acquisition of businesses
Investment in and advances to unconsolidated finance subsidiary and affiliate
Increase in other assets
WORKING CAPITAL, End of year JjKrjV*'
The accompanying notes to consolidated financial statements are an integral part of this statement.
To the Shareholders and
Board of Directors of
We have examined the consolidated balance
sheet of MARRIOTT CORPORATION (a Delaware corporation) and Consolidated
Subsidiaries as of July 31,1970,
and the related statements of
consolidated income and shareholders'
investment and source and application of
funds for the fifty-three weeks then ended.
Our examination was made in accordance
with generally accepted auditing standards,
and accordingly included such tests of the
accounting records and such other auditing
procedures as we considered necessary in
the circumstances. We have previously
examined and reported on the financial
statements for the preceding year.
In our opinion, the accompanying consolidated balance sheet and statements of
consolidated income, shareholders' investment and source and application of funds
present fairly the financial position of
Marriott Corporation and Consolidated
Subsidiaries as of July 31,1970, and
the results of their operations
and the source and application of their
funds for the fifty-three weeks then ended,
in conformity with generally accepted
accounting principles applied on a basis
consistent with that of the preceding year.
ARTHUR ANDERSEN & CO.
Washington, D. C, October 9,1970.