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Marriott Corporation, 1983 Annual Report
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Marriott International, Inc.. Marriott Corporation, 1983 Annual Report - Image 39. 1983. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. August 5, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/303/show/293.

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.. (1983). Marriott Corporation, 1983 Annual Report - Image 39. 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/303/show/293

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, 1983 Annual Report - Image 39, 1983, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed August 5, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/303/show/293.

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, 1983 Annual Report
Creator (LCNAF)
  • Marriott International, Inc.
Publisher Marriott International, Inc.
Date 1983
Description Marriott Corporation Annual Report for calendar year 1983.
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 39
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_055_039.jpg
Transcript QUARTERLY FINANCIAL RESULTS (Unaudited) A summary of selected quarterly financial data for fiscal years 1983 and 1982 follows (in thousands except per share amounts): 1983 Sales Income Before Income Taxes $ 33,151 49,953 63,420 51,578 Net Income $ 19,239 28,331 36,670 31,005 Earnings Per Share First Second Third Fourth $ 635,045 705,721 747,154 948,783 $ .70 1.02 1.32 1.11 Year $3,036,703 $198,102 $115,245 4.15 1982 First Second Third Fourth $ 516,209 600,861 631,660 792,623 $ 28,812 36,705 47,068 41,098 $ 16,942 22,370 29,895 25,135 $ .63 .82 1.10 .91 Year $2,541,353 $153,683 $ 94,342 3.44 Each of the first three quarters consists of 12 weeks, while the fourth quarter includes 16 weeks. The sum of the earnings per share for the four quarters may differ from the annual earnings per share due to the required method of computing the quarterly and annual amounts on the weighted average number of shares in the respective periods. In the fourth quarter of 1982, the company disposed of approximately 35 acres of excess land at the Santa Clara theme park, resulting in a pre-tax gain of $16,874,000. In addition, various write-offs and reserves also were recorded, primarily related to airline receivables and foreign operations. The net effect of the foregoing items was to increase earnings per share for the fourth quarter of 1982 by $.07 per share. 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. However, this information distorts economic performance because historical cost depreciation is further increased for changes in general price levels and the company's current costs, whereas the company's real estate-based assets require less annual capital reinvestment than is provided by historical cost depreciation. Accordingly, Current Value information on page 24 is more meaningful in evaluating the company's performance and financial condition. Income Statement Adjusted for Changing Costs for the year ended December 30,1983 (in thousands of average 1983 dollars) Net income as reported $115,245 Constant dollar adjustment for depreciation and amortization of property and equipment (30,461) Constant dollar net income 84,784 Current cost adjustments for depreciation and amortization of property and equipment 13,563 Current cost net income 98,347 Gain from decline in purchasing power of net amounts owed 47,873 Adjusted net income $146,220 Increase in current cost of property and equipment held during the year $100,004 Effect of increase in general price level 63,307 Increase in current costs excluding increase in general price level $ 36,697 37