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10 Year Financial History
(Dollars in Thousands, Except Per Share Amounts) 1976
Summary of Operations (Note A) (53 Weeks)
Sales 890,403
Percent increase for the year 21.6%
Cost of sales and operating expenses 817,884
Interest cost 31,187
Interest capitalized 10,432
Income before income taxes 51,764
Per sales dollar 5.8%
United States and foreign income taxes 26,819
Percent to income before income taxes 51.8%
Investment tax credit 5,900
Net Income 30,845
Percent increase (decrease) for the year 41.4%
Per sales dollar 3.5%
Return on beginning shareholders' investment. . 12.2%
Funds provided from operations (Note C) 87,543
Capital expenditures 143,235
Assets Employed
Net working capital 15,866
Fixed assets 681,393
Other assets 48,703
Debt and Equity
Mortgages and notes 334,928
Construction financing 16,000
Deferred income taxes 47,343
Convertible subordinated debt 31,340
Shareholders' investment 315,344
Per Share Data (Note B)
Net income .90
Stock dividends
Percent 2.5%
Cash equivalent .44
Shareholders' investment 8.87
Quoted market price at year end 14.25
Other Data (Note B)
Weighted average shares outstanding 34,363,515
Shares outstanding 35,567,027
Number of shareholders 47,000
Number of employees (including seasonal) .... 60,600
Number of operating units 825
Hotel rooms
Owned and leased 13,774
Managed (sales not consolidated) . . : 736
1975
1974
1973
732,396
640,439
538,193
14.4%
19.0%
27.3%
676,014
582,227
489,283
28,328
21,236
16,063
10,353
5,144
2,802
38,407
42,120
35,649
5.2%
6.6%
6.6%
19,564
19,425
16,353
50.9%
46.2%
45.9%
2,975
2,050
1,715
21,818
24,745
21,011
(11.8%)
14.3%
18.5%
3.0%
3.9%
3.9%
9.6%
12.4%
12.1%
70,320
63,592
51,450
159,178
114,153
103,937
15,425
578,050
57,905
14,518
481,858
47,979
9,771
427,572
42,834
325,076
4,948
34,514
32,240
253,736
226,423
25,360
28,392
34,300
227,110
216,409
34,383
21,132
5,000
199,731
.66
2.5%
.37
7.62
12.80
.76
2.5%
.46
6.93
16.54
.65
2.5%
.76
6.13
27.74
33,084,134
32,664,719
32,482,838
33,319,508
32,761,706
32,600,598
43,200
38,900
37,000
46,200
43,400
38,700
774
688
570
12,303
9,912
8,772
1,090
275
—
34
NOTES: (A) See Notes to Consolidated Financial Statements
for summary of significant accounting policies and
additional information.
(B) Per share data is based on weighted average
shares outstanding during the year (except for
shareholders' investment which is based on total
shares outstanding), adjusted for stock dividends and
for2-for~l splits in March 1968 and March 1972.
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