Accounting In Action Business Insight
Net income is not the same as net cash provided by operating activities. The differences are illustrated by the following results from recent annual reports (all data are in millions of dollars). Note the disparity among the companies that engaged in both the restaurant or food-service industry and the lodging industry.
|
RESTAURANTS
Company
|
Date
|
Net Income
|
Net Cash from Operations
|
|
Brinker
|
6/28/2006
|
$212,395,000
|
$470,505,000
|
|
Darden
|
5/28/2006
|
338,194,000
|
717,090,000
|
|
Landry's
|
12/31/2005
|
44,815,036
|
151,056,018
|
|
Morton's
|
1/1/2006
|
695,000
|
25,708,000
|
|
OSI Restaurant
|
12/31/2005
|
149,601,000
|
372,227,000
|
|
Partners
|
|
|
|
|
HOTELS
Company
|
Date
|
Net Income
|
Net Cash from Operations
|
|
Choice
|
12/31/2005
|
$87,565,000
|
$132,907,000
|
|
Hilton
|
12/31/2005
|
460,000,000
|
486,000,000
|
|
Intercontinental
|
12/31/2005
|
£515,000,000
|
£423,000,000
|
|
Marriott
|
12/30/2005
|
$669,000,000
|
$837,000,000
|
|
Starwood
|
12/31/2005
|
422,000,000
|
764,000,000
|