10-Q Filing

APPLE HOSPITALITY REIT, INC. CIK: 1418121 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000950170-23-016692`
Period End Date	20230331
Filing Date	20230502
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	aple-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 34 Cash Flow Statement 75 Stockholders Equity 22

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Investment in real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$1.49B	USD	Point-in-time
Investment in real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$1.54B	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 and amortization of $1,537,998 and $1,492,097, respectively	`RealEstateInvestmentPropertyNet`	$4.61B	USD	Point-in-time
Investment in real estate, net of accumulated depreciation and amortization of $1,537,998 and $1,492,097, respectively	`RealEstateInvestmentPropertyNet`	$4.58B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.08M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$636.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.28M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$36.67M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$40.57M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$32.69M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$39.44M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
Due from third party managers, net	`DueFromManagers`	$71.12M	USD	Point-in-time
Due from third party managers, net	`DueFromManagers`	$43.33M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
Other assets, net	`OtherAssets`	$67.86M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	228.64M	shares	Point-in-time
Other assets, net	`OtherAssets`	$74.91M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	229.01M	shares	Point-in-time
Total Assets	`Assets`	$4.76B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	228.64M	shares	Point-in-time
Total Assets	`Assets`	$4.77B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	229.01M	shares	Point-in-time
Debt, net	`LongTermDebt`	$1.42B	USD	Point-in-time
Debt, net	`LongTermDebt`	$1.37B	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiability`	$111.99M	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiability`	$112.01M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$78.72M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$116.06M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.61B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.59B	USD	Point-in-time
Preferred stock, authorized 30,000,000 shares; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, authorized 30,000,000 shares; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, no par value, authorized 800,000,000 shares; issued and outstanding 229,013,349 and 228,644,861 shares, respectively	`CommonStockValue`	$4.58B	USD	Point-in-time
Common stock, no par value, authorized 800,000,000 shares; issued and outstanding 229,013,349 and 228,644,861 shares, respectively	`CommonStockValue`	$4.58B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$28.77M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$36.88M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$1.44B	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$1.46B	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.15B	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.15B	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.18B	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.18B	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.77B	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.76B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$260.48M	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$311.45M	USD	1 Quarter
Total hotel operating expense	`CostOfGoodsAndServicesSold`	$154.00M	USD	1 Quarter
Total hotel operating expense	`CostOfGoodsAndServicesSold`	$185.16M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$19.68M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$18.68M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$9.64M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$11.46M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$45.32M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$45.91M	USD	1 Quarter
Total expense	`CostsAndExpenses`	$262.21M	USD	1 Quarter
Total expense	`CostsAndExpenses`	$227.64M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$32.84M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$49.25M	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-14.65M	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-16.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$18.18M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$33.24M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$179.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$320.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$32.92M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.00M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$27.22M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-8.11M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$45.22M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$24.82M	USD	1 Quarter
Basic net income per common share	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Basic net income per common share	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Diluted net income per common share	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Diluted net income per common share	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Weighted average common shares outstanding - basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	228.99M	shares	1 Quarter
Weighted average common shares outstanding - basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	229.40M	shares	1 Quarter
Weighted average common shares outstanding - diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	228.99M	shares	1 Quarter
Weighted average common shares outstanding - diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	229.40M	shares	1 Quarter

Cash Flow Statement 75 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$32.92M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$45.32M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$45.91M	USD	1 Quarter
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-2.17M	USD	1 Quarter
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-2.01M	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$27.79M	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$20.51M	USD	1 Quarter
Increase in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$745.00K	USD	1 Quarter
Increase in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$3.31M	USD	1 Quarter
Decrease in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.62M	USD	1 Quarter
Decrease in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-617.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$39.06M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$51.69M	USD	1 Quarter
Disbursements for potential acquisitions, net	`PaymentsForDepositsOnRealEstateAcquisitions`	$677.00K	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$23.90M	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$13.59M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-24.58M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.59M	USD	1 Quarter
Repurchases of common shares	`PaymentsForRepurchaseOfCommonStock`	$3.56M	USD	1 Quarter
Repurchases of common shares to satisfy employee withholding requirements	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$5.74M	USD	1 Quarter
Repurchases of common shares to satisfy employee withholding requirements	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$4.42M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$73.40M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$13.70M	USD	1 Quarter
Equity issuance costs	`PaymentsOfStockIssuanceCosts`	$23.00K	USD	1 Quarter
Equity issuance costs	`PaymentsOfStockIssuanceCosts`	$15.00K	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$500.00K	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$40.50M	USD	1 Quarter
Proceeds from term loans and senior notes	`ProceedsFromIssuanceOfUnsecuredDebt`	$50.00M	USD	1 Quarter
Proceeds from term loans and senior notes	`ProceedsFromIssuanceOfUnsecuredDebt`	$50.00M	USD	Point-in-time
Payments of mortgage debt and other loans	`RepaymentsOfDebt`	$39.57M	USD	1 Quarter
Payments of mortgage debt and other loans	`RepaymentsOfDebt`	$6.56M	USD	1 Quarter
Principal payments on finance leases	`FinanceLeasePrincipalPayments`	$67.00K	USD	1 Quarter
Principal payments on finance leases	`FinanceLeasePrincipalPayments`	$27.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-31.85M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-24.22M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.25M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.73M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$41.20M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$39.95M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$43.51M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$38.78M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$41.20M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$39.95M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$43.51M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$38.78M	USD	Point-in-time
Interest paid	`InterestPaid`	$15.61M	USD	1 Quarter
Interest paid	`InterestPaid`	$13.85M	USD	1 Quarter
Accrued distribution to common shareholders	`DividendsPayableCurrentAndNoncurrent`	$18.30M	USD	Point-in-time
Accrued distribution to common shareholders	`DividendsPayableCurrentAndNoncurrent`	$11.42M	USD	Point-in-time
Accrued distribution to common shareholders	`DividendsPayableCurrentAndNoncurrent`	$36.60M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.08M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$636.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.09M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.28M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, beginning of period	`RestrictedCashAndCashEquivalents`	$36.67M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, beginning of period	`RestrictedCashAndCashEquivalents`	$40.57M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, beginning of period	`RestrictedCashAndCashEquivalents`	$32.69M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, beginning of period	`RestrictedCashAndCashEquivalents`	$39.44M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$38.78M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$39.95M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$41.20M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$43.51M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.08M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$636.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.09M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.28M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, end of period	`RestrictedCashAndCashEquivalents`	$36.67M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, end of period	`RestrictedCashAndCashEquivalents`	$40.57M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, end of period	`RestrictedCashAndCashEquivalents`	$32.69M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, end of period	`RestrictedCashAndCashEquivalents`	$39.44M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$38.78M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$39.95M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$41.20M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$43.51M	USD	Point-in-time

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Distributions declared to shareholders	`CommonStockDividendsPerShareDeclared`	$0.10	USD	1 Quarter
Distributions declared to shareholders	`CommonStockDividendsPerShareDeclared`	$0.24	USD	1 Quarter
Balance	`StockholdersEquity`	$3.15B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.15B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.18B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.18B	USD	Point-in-time
Share based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$8.40M	USD	1 Quarter
Share based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$9.59M	USD	1 Quarter
Equity issuance costs	`EquityIssuanceCosts`	$186.00K	USD	1 Quarter
Equity issuance costs	`EquityIssuanceCosts`	$29.00K	USD	1 Quarter
Common shares repurchased	`StockRepurchasedAndRetiredDuringPeriodValue`	$3.56M	USD	1 Quarter
Common shares repurchased (in Shares)	`StockRepurchasedAndRetiredDuringPeriodShares`	300,000.00	shares	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$27.22M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-8.11M	USD	1 Quarter
Net income	`NetIncomeLoss`	$32.92M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.00M	USD	1 Quarter
Distributions declared to shareholders	`DividendsCommonStock`	$22.84M	USD	1 Quarter
Distributions declared to shareholders	`DividendsCommonStock`	$55.17M	USD	1 Quarter
Balance	`StockholdersEquity`	$3.15B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.15B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.18B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.18B	USD	Point-in-time

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