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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
149,601,000
372,227,000
Partners
HOTELS
Choice
$87,565,000
$132,907,000
Hilton
460,000,000
486,000,000
Intercontinental
£515,000,000
£423,000,000
Marriott
12/30/2005
$669,000,000
$837,000,000
Starwood
422,000,000
764,000,000
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