10-Q Filing

APPLE REIT TEN, INC. CIK: 1498864 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0000930413-11-005356`
Period End Date	20110630
Filing Date	20110812
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	apple10-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 40 Cash Flow Statement 21

Balance Sheet 44 line items

Line Item	Tag	Value	Unit	Period
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	-	USD	Point-in-time
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$1.10M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Investment in real estate, net of accumulated depreciation of $1,098 and $0	`RealEstateInvestmentPropertyNet`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Investment in real estate, net of accumulated depreciation of $1,098 and $0	`RealEstateInvestmentPropertyNet`	$186.52M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$124.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$142.84M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Due from third party managers	`DueFromManagers`	$1.86M	USD	Point-in-time
Due from third party managers	`DueFromManagers`	-	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other assets	`OtherAssets`	$868.00K	USD	Point-in-time
Other assets	`OtherAssets`	$4.17M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$992.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$335.38M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.00	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	35.41M	shares	Point-in-time
Note payable	`SecuredDebt`	$400.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.00	shares	Point-in-time
Note payable	`SecuredDebt`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	35.41M	shares	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$575.00K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$1.58M	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$975.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.58M	USD	Point-in-time
Preferred stock, value issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, value issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, no par value, authorized 400,000,000 shares; issued and outstanding 35,412,798 and 10 shares, respectively	`CommonStockValue`	$344.96M	USD	Point-in-time
Common stock, no par value, authorized 400,000,000 shares; issued and outstanding 35,412,798 and 10 shares, respectively	`CommonStockValue`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-31.00K	USD	Point-in-time
Cumulative distributions paid	`AccumulatedDistributionsInExcessOfNetIncome`	$-7.61M	USD	Point-in-time
Cumulative distributions paid	`AccumulatedDistributionsInExcessOfNetIncome`	-	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$333.80M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$17.00K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$335.38M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$992.00K	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	$5.96M	USD	1 Quarter
Room revenue	`OccupancyRevenue`	$6.71M	USD	2 Qtrs
Other revenue	`OtherHotelOperatingRevenue`	$813.00K	USD	2 Qtrs
Other revenue	`OtherHotelOperatingRevenue`	$669.00K	USD	1 Quarter
Total revenue	`Revenues`	$7.52M	USD	2 Qtrs
Total revenue	`Revenues`	$6.63M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$1.51M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$1.75M	USD	2 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$516.00K	USD	2 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$462.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$486.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$561.00K	USD	2 Qtrs
Utilities	`UtilitiesCosts`	$225.00K	USD	1 Quarter
Utilities	`UtilitiesCosts`	$259.00K	USD	2 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$175.00K	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$197.00K	USD	2 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$338.00K	USD	2 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$300.00K	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$238.00K	USD	2 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$211.00K	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$401.00K	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$465.00K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$777.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.37M	USD	2 Qtrs
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$4.55M	USD	2 Qtrs
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$2.53M	USD	1 Quarter
Depreciation expense	`Depreciation`	$1.10M	USD	2 Qtrs
Depreciation expense	`Depreciation`	$884.00K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$11.34M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$7.96M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.82M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-1.33M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$151.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$247.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.18M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.57M	USD	2 Qtrs
Basic and diluted net loss per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Basic and diluted net loss per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.18	USD	2 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	28.61M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	19.55M	shares	2 Qtrs

Cash Flow Statement 21 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.18M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.57M	USD	2 Qtrs
Depreciation	`Depreciation`	$1.10M	USD	2 Qtrs
Depreciation	`Depreciation`	$884.00K	USD	1 Quarter
Stock option expense	`ShareBasedCompensation`	$-51.00K	USD	2 Qtrs
Increase in funds due from third party managers	`IncreaseDecreaseInDueFromThirdPartyManager`	$1.77M	USD	2 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$52.00K	USD	2 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-696.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.55M	USD	2 Qtrs
Cash paid for the acquisition of hotel properties	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$188.46M	USD	2 Qtrs
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	$2.57M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-191.03M	USD	2 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$345.30M	USD	2 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$-7.61M	USD	2 Qtrs
Payments on note payable	`ProceedsFromRepaymentsOfSecuredDebt`	$400.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$337.29M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$142.71M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$124.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$142.84M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$124.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$142.84M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.