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H
Harriott
CORPORATION
10 Year Financial History
Marriott Corporation and Subsidiaries
Dollars in Thousands
1969
1968
1967
NOTES
A. Data exclude special gain on
sale of properties in 1969
($1,274,000 net of $483,000
tax or $.11 per share).
B. Leasehold interest and lease-
purchase obligations capitalized as of July 25, 1965, include 5 properties which prior
to 1961 were owned by the
Company and included in
fixed assets and mortgage indebtedness.
C. Per share data is based on the
weighted average number of
shares outstanding during the
year (except for shareholders'
investment which is based on
the total shares outstanding),
adjusted for annual stock dividends and for 2-for-1 splits
in December 1960, April 1965
and March 1968.
D. Figures have been restated
on a comparable basis except
for the changes in accounting
for leases in 1965 and for
hotel pre-opening expenses
and deferred stock contracts
in 1969.
OPERATIONS (Note A)
Sales I 257,385
% Increase for the year I 30.3%
Income before income taxes I 15,956
Per sales dollar ■ 6.2%
United States and foreign
income taxes I (7,385)
Additional surtax I (655)
Investment tax credit I 988
Income before extraordinary items.. . . I 8,904
% Increase for the year 9 20.0%
Per sales dollar £ 3.5%
Return on beginning shareholders'
investment 15.7%
Cash flow from operations I 20,043
ASSETS EMPLOYED
Net working capital I 6,152
Fixed assets I 103,506
Leasehold interest (Note B) | 69,582
Other assets I 23,988
SOURCE OF FUNDS
Mortgages and notes I 30,036
Lease-purchase obligations
(NoteB) I 45,456
Construction financing 9,720
Deferred taxes and compensation .... 9 11,978
Convertible subordinated
debt I 28,000
Minority interest in subsidiaries I 282
Shareholders' investment I 77,756
PER SHARE DATA (Notes A and C)
Income before extraordinary items.... I .76
Cash flow from operations I 1.71
Stock dividends
Percent I 2.5%
Cash equivalent . . 1 .81
Shareholders' investment I 6.42
Quoted market price at year end I 31.13
OTHER DATA (Note C)
Weighted average shares
outstanding 11,716,667
Shares outstanding 12,102,466
Number of shareholders 1 24,000
Number of employees I 24,300
Number of operating units I 324
197,498
35.0%
13,362
6.8%
146,349
18.1%
10,820
7.4%
(6,441)
(329)
827
7,419
22.6%
3.8%
(5,233
462
6,049
18.4%
4.1%
16.3%
16,302
19.6%
12,920
7,579
68,792
55,718
12,159
4,559
44,671
42,046
6,810
24,808
11,286
41,168
2,500
8,816
33,679
7,667
10,000
181
56,775
45,454
.64
1.41
.57
1.21
3.0%
.62
4.87
28.78
4.0%
.50
3.99
15.75
11,559,690
11,651,362
20,700
19,700
256
10,679,314
11,403,863
15,767
15,600
206
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