10-Q Filing

APPLE REIT SIX INC CIK: 1277151 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0000930413-11-007121`
Period End Date	20110930
Filing Date	20111109
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	apple6-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 100 Cash Flow Statement 50

Balance Sheet 44 line items

Line Item	Tag	Value	Unit	Period
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$177.89M	USD	Point-in-time
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$153.45M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Investment in real estate, net of accumulated depreciation of $177,893 and $153,452, respectively	`RealEstateInvestmentPropertyNet`	$764.56M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $177,893 and $153,452, respectively	`RealEstateInvestmentPropertyNet`	$750.52M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Hotels held for sale	`AssetsHeldForSaleAtCarryingValue`	-	USD	Point-in-time
Hotels held for sale	`AssetsHeldForSaleAtCarryingValue`	$10.76M	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
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedAssetsAndOtherEscrows`	$3.74M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedAssetsAndOtherEscrows`	$4.34M	USD	Point-in-time
Due from third party manager, net	`DueFromManagers`	$5.93M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Due from third party manager, net	`DueFromManagers`	$10.08M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.38M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.47M	shares	Point-in-time
Other assets, net	`OtherAssets`	$3.22M	USD	Point-in-time
Other assets, net	`OtherAssets`	$2.62M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$788.21M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	91.38M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$767.57M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	91.47M	shares	Point-in-time
Credit facility	`LineOfCredit`	$38.77M	USD	Point-in-time
Credit facility	`LineOfCredit`	$39.55M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$19.58M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$24.18M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$5.70M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$4.71M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$68.44M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$64.04M	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 200,000,000 shares; issued and outstanding 91,381,058 and 91,473,791 shares, respectively	`CommonStockValue`	$902.40M	USD	Point-in-time
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding 91,381,058 and 91,473,791 shares, respectively	`CommonStockValue`	$901.53M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$-182.66M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$-198.03M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$703.53M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$719.77M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$788.21M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$767.57M	USD	Point-in-time

Income Statement 100 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	$170.24M	USD	3 Qtrs
Room revenue	`OccupancyRevenue`	$159.75M	USD	3 Qtrs
Room revenue	`OccupancyRevenue`	$58.09M	USD	1 Quarter
Room revenue	`OccupancyRevenue`	$61.65M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$4.16M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$10.79M	USD	3 Qtrs
Other revenue	`OtherHotelOperatingRevenue`	$12.06M	USD	3 Qtrs
Other revenue	`OtherHotelOperatingRevenue`	$3.68M	USD	1 Quarter
Reimbursed expenses	`ReimbursementRevenue`	$1.42M	USD	1 Quarter
Reimbursed expenses	`ReimbursementRevenue`	$4.68M	USD	3 Qtrs
Reimbursed expenses	`ReimbursementRevenue`	$5.47M	USD	3 Qtrs
Reimbursed expenses	`ReimbursementRevenue`	$1.82M	USD	1 Quarter
Total revenue	`Revenues`	$67.63M	USD	1 Quarter
Total revenue	`Revenues`	$175.23M	USD	3 Qtrs
Total revenue	`Revenues`	$63.19M	USD	1 Quarter
Total revenue	`Revenues`	$187.76M	USD	3 Qtrs
Operating expense	`DirectCostsOfHotels`	$43.66M	USD	3 Qtrs
Operating expense	`DirectCostsOfHotels`	$15.54M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$46.23M	USD	3 Qtrs
Operating expense	`DirectCostsOfHotels`	$16.34M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$13.88M	USD	3 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$4.75M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$14.48M	USD	3 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$4.96M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.73M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$5.05M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$13.53M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$14.43M	USD	3 Qtrs
Utilities	`UtilitiesCosts`	$2.92M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$7.37M	USD	3 Qtrs
Utilities	`UtilitiesCosts`	$2.83M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$7.53M	USD	3 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$8.02M	USD	3 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.86M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.82M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$8.22M	USD	3 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.60M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.77M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$7.66M	USD	3 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$7.16M	USD	3 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$5.54M	USD	3 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$6.33M	USD	3 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$2.40M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$2.11M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$9.25M	USD	3 Qtrs
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$2.83M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$2.96M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$8.93M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.20M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.98M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.65M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.27M	USD	1 Quarter
Reimbursed expenses	`OtherGeneralExpense`	$1.82M	USD	1 Quarter
Reimbursed expenses	`OtherGeneralExpense`	$1.42M	USD	1 Quarter
Reimbursed expenses	`OtherGeneralExpense`	$4.68M	USD	3 Qtrs
Reimbursed expenses	`OtherGeneralExpense`	$5.47M	USD	3 Qtrs
Depreciation expense	`Depreciation`	$24.46M	USD	3 Qtrs
Depreciation expense	`Depreciation`	$7.71M	USD	1 Quarter
Depreciation expense	`Depreciation`	$23.03M	USD	3 Qtrs
Depreciation expense	`Depreciation`	$8.01M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$147.73M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$48.67M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$51.23M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$139.77M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$16.40M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$35.46M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$40.04M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$14.52M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.86M	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-990.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.89M	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-937.00K	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$37.14M	USD	3 Qtrs
Income from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$15.46M	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$32.59M	USD	3 Qtrs
Income from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.53M	USD	1 Quarter
Income (loss) from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$-2.91M	USD	3 Qtrs
Income (loss) from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$-3.29M	USD	1 Quarter
Income (loss) from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$26.00K	USD	1 Quarter
Income (loss) from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$697.00K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$29.69M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$15.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.84M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$10.24M	USD	1 Quarter
From continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.40	USD	3 Qtrs
From continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.17	USD	1 Quarter
From continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.36	USD	3 Qtrs
From continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.15	USD	1 Quarter
From discontinued operations (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
From discontinued operations (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$0.01	USD	3 Qtrs
From discontinued operations (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-0.04	USD	1 Quarter
From discontinued operations (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-0.03	USD	3 Qtrs
Total basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.17	USD	1 Quarter
Total basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.11	USD	1 Quarter
Total basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.33	USD	3 Qtrs
Total basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.41	USD	3 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	91.33M	shares	3 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	91.30M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	91.31M	shares	3 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	91.25M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$29.69M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$15.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.84M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$10.24M	USD	1 Quarter
Depreciation, including discontinued operations	`DepreciationIncludingDiscontinuedOperations`	$24.46M	USD	3 Qtrs
Depreciation, including discontinued operations	`DepreciationIncludingDiscontinuedOperations`	$23.42M	USD	3 Qtrs
Loss on hotels held for sale	`GainLossOnSaleOfProperties`	-	USD	3 Qtrs
Loss on hotels held for sale	`GainLossOnSaleOfProperties`	$-3.07M	USD	3 Qtrs
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$533.00K	USD	3 Qtrs
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$431.00K	USD	3 Qtrs
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$3.15M	USD	3 Qtrs
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$4.15M	USD	3 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-614.00K	USD	3 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-722.00K	USD	3 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.32M	USD	3 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.35M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$59.19M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$54.30M	USD	3 Qtrs
Capital improvements	`PaymentsForCapitalImprovements`	$10.76M	USD	3 Qtrs
Capital improvements	`PaymentsForCapitalImprovements`	$5.09M	USD	3 Qtrs
Proceeds from sale of assets, net	`ProceedsFromSaleOfPropertyHeldForSale`	-	USD	3 Qtrs
Proceeds from sale of assets, net	`ProceedsFromSaleOfPropertyHeldForSale`	$10.76M	USD	3 Qtrs
Net decrease in cash restricted for property improvements	`IncreaseDecreaseInRestrictedCash`	$-165.00K	USD	3 Qtrs
Net decrease in cash restricted for property improvements	`IncreaseDecreaseInRestrictedCash`	$-722.00K	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.93M	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$717.00K	USD	3 Qtrs
Net proceeds from (payments on) credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$8.67M	USD	3 Qtrs
Net proceeds from (payments on) credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-786.00K	USD	3 Qtrs
Payments of mortgage debt	`ProceedsFromRepaymentsOfSecuredDebt`	$-3.51M	USD	3 Qtrs
Payments of mortgage debt	`ProceedsFromRepaymentsOfSecuredDebt`	$-4.51M	USD	3 Qtrs
Payment of financing costs related to borrowings	`PaymentsOfFinancingCosts`	$414.00K	USD	3 Qtrs
Payment of financing costs related to borrowings	`PaymentsOfFinancingCosts`	-	USD	3 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$21.27M	USD	3 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$23.12M	USD	3 Qtrs
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$22.25M	USD	3 Qtrs
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$22.92M	USD	3 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$54.73M	USD	3 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$53.21M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-59.91M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-49.37M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time

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