10-Q Filing

APPLE REIT TEN, INC. CIK: 1498864 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0000930413-11-007209`
Period End Date	20110930
Filing Date	20111110
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	apple10-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 60 Cash Flow Statement 52

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`	$2.96M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $2,959 and $0	`RealEstateInvestmentPropertyNet`	$318.50M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Investment in real estate, net of accumulated depreciation of $2,959 and $0	`RealEstateInvestmentPropertyNet`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$167.00K	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`	$48.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$77.88M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Due from third party managers	`DueFromManagers`	$2.68M	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
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Other assets	`OtherAssets`	$9.24M	USD	Point-in-time
Other assets	`OtherAssets`	$868.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$992.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.00	shares	Point-in-time
TOTAL ASSETS	`Assets`	$408.30M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	39.35M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.00	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	39.35M	shares	Point-in-time
Notes payable	`SecuredDebt`	$400.00K	USD	Point-in-time
Notes payable	`SecuredDebt`	$40.16M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$3.60M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$575.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$975.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$43.76M	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 39,349,617 and 10 shares, respectively	`CommonStockValue`	-	USD	Point-in-time
Common stock, no par value, authorized 400,000,000 shares; issued and outstanding 39,349,617 and 10 shares, respectively	`CommonStockValue`	$383.77M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-31.00K	USD	Point-in-time
Cumulative distributions paid	`AccumulatedDistributionsInExcessOfNetIncome`	$-15.20M	USD	Point-in-time
Cumulative distributions paid	`AccumulatedDistributionsInExcessOfNetIncome`	-	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$364.54M	USD	Point-in-time
TOTAL SHAREHOLDERS EQUITY	`StockholdersEquity`	$17.00K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$992.00K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$408.30M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	$19.96M	USD	3 Qtrs
Room revenue	`OccupancyRevenue`	-	USD	1 Quarter
Room revenue	`OccupancyRevenue`	$13.25M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	-	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$1.14M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$1.95M	USD	3 Qtrs
Total revenue	`Revenues`	$14.39M	USD	1 Quarter
Total revenue	`Revenues`	-	USD	1 Quarter
Total revenue	`Revenues`	$21.91M	USD	3 Qtrs
Operating expense	`DirectCostsOfHotels`	$5.06M	USD	3 Qtrs
Operating expense	`DirectCostsOfHotels`	-	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$3.32M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	-	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$1.61M	USD	3 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$1.10M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.09M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.65M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	-	USD	1 Quarter
Utilities	`UtilitiesCosts`	-	USD	1 Quarter
Utilities	`UtilitiesCosts`	$813.00K	USD	3 Qtrs
Utilities	`UtilitiesCosts`	$554.00K	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$613.00K	USD	3 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$416.00K	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	-	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$978.00K	USD	3 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$640.00K	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	-	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	-	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$454.00K	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$692.00K	USD	3 Qtrs
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	-	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$776.00K	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$1.24M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.32M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$942.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.00K	USD	1 Quarter
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$3.60M	USD	1 Quarter
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$8.15M	USD	3 Qtrs
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	-	USD	1 Quarter
Depreciation expense	`Depreciation`	$2.96M	USD	3 Qtrs
Depreciation expense	`Depreciation`	-	USD	1 Quarter
Depreciation expense	`Depreciation`	$1.86M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$26.09M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$6.00K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$14.75M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-6.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-367.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.18M	USD	3 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$141.00K	USD	3 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$-106.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-1.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.04M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-473.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.00K	USD	1 Quarter
Basic and diluted net loss per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	3 Qtrs
Basic and diluted net loss per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-663.90	USD	1 Quarter
Basic and diluted net loss per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	37.01M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	25.43M	shares	3 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	0.00	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.04M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-473.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.00K	USD	1 Quarter
Depreciation	`Depreciation`	$2.96M	USD	3 Qtrs
Depreciation	`Depreciation`	-	USD	1 Quarter
Depreciation	`Depreciation`	$1.86M	USD	1 Quarter
Amortization of deferred financing costs and fair value adjustments	`AmortizationOfDeferredFinancingCostsFairValueAdjustments`	$-18.00K	USD	3 Qtrs
Amortization of deferred financing costs and fair value adjustments	`AmortizationOfDeferredFinancingCostsFairValueAdjustments`	-	USD	1 Quarter
Stock option expense	`ShareBasedCompensation`	-	USD	1 Quarter
Stock option expense	`ShareBasedCompensation`	$58.00K	USD	3 Qtrs
Increase in funds due from third party managers	`IncreaseDecreaseInDueFromThirdPartyManager`	$2.71M	USD	3 Qtrs
Increase in funds due from third party managers	`IncreaseDecreaseInDueFromThirdPartyManager`	-	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$91.00K	USD	3 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	1 Quarter
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.00K	USD	1 Quarter
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.14M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.70M	USD	3 Qtrs
Cash paid for the acquisition of hotel properties	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$285.00M	USD	3 Qtrs
Cash paid for the acquisition of hotel properties	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	-	USD	1 Quarter
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	$2.31M	USD	3 Qtrs
Capital improvements	`PaymentsForCapitalImprovements`	$95.00K	USD	3 Qtrs
Capital improvements	`PaymentsForCapitalImprovements`	-	USD	1 Quarter
Increase in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Increase in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$12.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-287.42M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$-279.00K	USD	1 Quarter
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$384.07M	USD	3 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$15.20M	USD	3 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	-	USD	1 Quarter
Payments on notes payable	`ProceedsFromRepaymentsOfSecuredDebt`	-	USD	1 Quarter
Payments on notes payable	`ProceedsFromRepaymentsOfSecuredDebt`	$-90.00K	USD	3 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	$498.00K	USD	3 Qtrs
Proceeds from (payments on) line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-400.00K	USD	3 Qtrs
Proceeds from (payments on) line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$400.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$367.88M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$121.00K	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$77.75M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$119.00K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$167.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$124.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$48.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$77.88M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$167.00K	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`	$48.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$77.88M	USD	Point-in-time
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	-	USD	1 Quarter
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$-39.73M	USD	3 Qtrs

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