Accounting In Action Business Insight Net income is not the same as net cash provided by operating… 1 answer below »

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

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