Keyword
in
Collection
Date
to
Marriott Corporation, 1978 Annual Report
Image 35
Citation
MLA
APA
Chicago/Turabian
Marriott International, Inc.. Marriott Corporation, 1978 Annual Report - Image 35. 1978. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. September 16, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/828/show/822.

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.. (1978). Marriott Corporation, 1978 Annual Report - Image 35. 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/828/show/822

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, 1978 Annual Report - Image 35, 1978, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed September 16, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/828/show/822.

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.

URL
Embed Image
Compound Item Description
Title Marriott Corporation, 1978 Annual Report
Creator (LCNAF)
  • Marriott International, Inc.
Publisher Marriott International, Inc.
Date 1978
Description Marriott Corporation Annual Report for the year ending on July 31, 1978.
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 35
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_049_035.jpg
Transcript BUSINESS SEGMENT INFORMATION Summarized on page 24 are sales and operating profit for the five fiscal years ended July 28,1978 by business segment. Net assets employed, identifiable assets, capital expenditures and acquisitions, and depreciation and amortization for each business segment for 1978 are as follows: (Dollars in Thousands) Net Capital Assets Identifiable Expenditures Depreciation Employed* Assets & Acquisitions & Amortization Segment Hotels Group Contract Food Services Restaurant Operations Theme Parks Cruise Ships and Other Corporate Total $283,616 94,073 151,176 161,726 41,420 62,397 $794,408 $324,145 130,688 171,830 174,172 44,986 112,194 $958.015 $ 58,376 9,204 33,134 7,741 907 15,235 $124,597 $17,822 7,515 11,991 8,562 1,702 848 $48,440 *Net assets employed represent identifiable assets less identifiable current liabilities. QUARTERLY FINANCIAL RESULTS (Unaudited) The following is a summary of selected quarterly financial data for the years ended July 28,1978 and July 29,1977, as restated to give effect to the retroactive capitalization of leases as required by Statement of Financial Accounting Standards No. 13. (Dollars in Thousands, Except Per Share Amounts) 1978 First Second Third Fourth Year 1977 First Second Third Fourth Year Sales 275,878 312,623 269,468 318,572 Income Before Income Taxes $23,139 11,280 20,630 24,731 $1,176,541 $79,780 $46,123 Earnings Per Share Net No Full Income Dilution Dilution $12,823 $ .35 $ .34 6,623 .18 .18 11,504 .31 .30 15,173 .41 .40 $ 238,903 273,999 239,634 273,777 $1,026,313 $18,480 5,572 16,753 19,334 $60,139 $10,034 5,163 9,234 11,074 $35,505 $1.26* .28 .14 .25 .30 .97 $1.22 $ .27 .14 .25 .30 $ .95* *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. Auditors' Report Management Report fi To the Shareholders of Marriott Corporation: We have examined the consolidated balance sheet of MARRIOTT CORPORATION (a Delaware corporation) and Subsidiaries as of July 28,1978, and July 29,1977, and the related statements of consolidated income, shareholders' investment and changes in financial position for the fiscal years 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. In our opinion, the accompanying consolidated financial statements present fairly the financial position of Marriott Corporation and Subsidiaries as of July 28,1978, and July 29,1977, and the results of their operations and changes in their financial position for the fiscal years then ended, in conformity with generally accepted accounting principles applied on a consistent basis after giving retroactive effect to the change (with which we concur) in the method of accounting for leases as required by Statement of Financial Accounting Standards No. 13 and explained in the Notes to Consolidated Financial Statements. Washington, D.C, August 31,1978. ARTHUR ANDERSEN & CO. The consolidated financial statements were prepared by management, which is responsible for their integrity and objectivity. In meeting this responsibility, the Company maintains systems of internal controls, policies and procedures to ensure that its accounting, administrative procedures and reporting practices are of the highest standards. The Company also maintains an internal auditing function which constantly evaluates the adequacy and effectiveness of such internal controls, policies and procedures. The Board of Directors pursues its responsibility for the consolidated financial statements through its Audit Committee, composed of three directors not otherwise employed by the Company, headed by the Vice Chairman. The Committee meets a minimum of three times a year with the independent public accountants, representatives of management and the internal auditors. It reviews the scope and results of the internal and external audits, the accounting principles applied in financial reporting and financial and operational controls. The independent public accountants have full and free access to the Audit Committee with or without the presence of management. MARRIOTT CORPORATION Washington, D.C, September 29,1978. 33