Question

Obtain Marriott’s 2009 10-K through the ‘‘Investor Relations’’ portion of their website. (Using a search engine, search for: Marriott investor relations.) Once at the Investor Relations part of the website look for ‘‘SEC Filings.’’ When you see the list of all the filings, either filter for the ‘‘Annual Filings’’ or search for ‘‘10-K’’ when you find the list of all SEC Filings. Another option is to go to http://www.sec.gov and click ‘‘Search for Company Filings’’ under ‘‘Filings & Forms.’’


Required:
1. What are Marriott’s total liabilities for 2009?
2. How much of these liabilities are classified as long-term debt (not non-current liabilities, but classified as long-term debt)?
3. Look at Marriott’s long-term debt footnote and answer the following questions:
a. When does their debt with the highest stated rate mature?
b. How much of their debt is maturing in each of the next five years (2010–2014)? How much is maturing in more than five years (2015 and beyond)?
c. How much debt was repurchased on the open market during 2009? What was the gain or loss recognized on this debt repurchase?
4. Calculate and discuss Marriott’s debt to equity and times interest earned (accrual basis) ratios.


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  • CreatedSeptember 22, 2015
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