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Consolidated Changes in Financial Position
1976
Marriott Corporation and Subsidiaries for the Fiscal Years Ended July 30,1976 and July 25,1975 (53 weeks)
Sources of Funds
Net income $ 30,845,000
Add expenses not requiring current outlay of working capital-
Depreciation and amortization of property and equipment 36,119,000
Deferred income taxes 14,119,000
Cost of condominium units sold 1,737,000
Other 4,723,000
From operations 87,543,000
New financing —
Mortgages and notes 49,271,000
Interim construction financing, net change 11,052,000
Maturities and prepayments of mortgages and notes (deduct) (40,319,000)
20,004,000
Lincolnshire Hotel —
Sale/leaseback, net assets 7,282,000
Mortgage assumed by purchaser —
From financing 27,286,000
Common stock issued 30,135,000
Disposals of property and equipment 7,890,000
Total sources 152,854,000
Applications of Funds
Additions—Theme Park property and equipment 68,573,000
— Other property and equipment 74,662,000
Acquisition of Santa Barbara Hotel 5,425,000
Acquisitions of businesses 699,000
Investments in and advances to affiliates (931,000)
Other 3,985,000
Total applications 152,413,000
Increase in Working Capital $ 441,000
Summary of Changes in Working Capital
Increase (decrease) in current assets
Cash and marketable securities $ (4,055,000)
Accounts receivable 6,705,000
Inventories 7,837,000
Prepaid expenses 3,088,000
(Increase) decrease in current liabilities
Short term loans (237,000)
Accounts payable and accrued liabilities (14,202,000)
Current portion of debt 1,305,000
Increase in Working Capital $ 441,000
The accompanying notes are an integral part of this statement.
1975
(52 weeks)
$ 21,818,000
30,637,000
9,714,000
4,260,000
3,891,000
70,320,000
122,892,000
(20,412,000)
(26,299,000)
76,181,000
17,000,000
93,181,000
4,523,000
6,824,000
174,848,000
63,273,000
95,905,000
2,850,000
838,000
11,075,000
173,941,000
% 907,000
1,027,000
(3,102,000)
369,000
1,226,000
1,011,000
(1,042,000)
1,418,000
907,000
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