10-Q Filing

APPLE REIT SEVEN, INC. CIK: 1329011 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001185185-12-000923`
Period End Date	20120331
Filing Date	20120507
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	apple7-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 42 Income Statement 38 Cash Flow Statement 46

Balance Sheet 42 line items

Line Item	Tag	Value	Unit	Period
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$156.82M	USD	Point-in-time
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$148.26M	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 $156,822 and $148,257, respectively	`RealEstateInvestmentPropertyNet`	$846.38M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $156,822 and $148,257, respectively	`RealEstateInvestmentPropertyNet`	$839.50M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedAssetsAndOtherEscrows`	$7.14M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedAssetsAndOtherEscrows`	$7.25M	USD	Point-in-time
Due from third party managers, net	`DueFromManagers`	$6.43M	USD	Point-in-time
Due from third party managers, net	`DueFromManagers`	$11.10M	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`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Other assets, net	`OtherAssets`	$5.55M	USD	Point-in-time
Other assets, net	`OtherAssets`	$5.20M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.11M	shares	Point-in-time
Total Assets	`Assets`	$863.40M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.04M	shares	Point-in-time
Total Assets	`Assets`	$865.14M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	91.11M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	91.04M	shares	Point-in-time
Credit facility	`LineOfCredit`	$76.60M	USD	Point-in-time
Credit facility	`LineOfCredit`	$64.70M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$110.15M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$109.23M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$12.37M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$12.31M	USD	Point-in-time
Total Liabilities	`Liabilities`	$198.20M	USD	Point-in-time
Total Liabilities	`Liabilities`	$187.16M	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 91,036,660 and 91,109,651 shares, respectively	`CommonStockValue`	$899.75M	USD	Point-in-time
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding 91,036,660 and 91,109,651 shares, respectively	`CommonStockValue`	$900.55M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$-234.57M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$-222.60M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$665.20M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$677.98M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$865.14M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$863.40M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	$44.70M	USD	1 Quarter
Room revenue	`OccupancyRevenue`	$47.40M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$5.10M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$4.74M	USD	1 Quarter
Total revenue	`Revenues`	$49.44M	USD	1 Quarter
Total revenue	`Revenues`	$52.50M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$13.63M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$13.95M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$3.88M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$3.94M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.10M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.80M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$2.07M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$2.12M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.36M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.25M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.06M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.20M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$1.65M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$1.78M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$3.17M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$3.09M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.12M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.12M	USD	1 Quarter
Depreciation expense	`Depreciation`	$8.37M	USD	1 Quarter
Depreciation expense	`Depreciation`	$8.56M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$44.25M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$41.97M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$8.25M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$7.47M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.72M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.19M	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.06	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.06	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	91.76M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	90.96M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$5.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.19M	USD	1 Quarter
Depreciation	`Depreciation`	$8.37M	USD	1 Quarter
Depreciation	`Depreciation`	$8.56M	USD	1 Quarter
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$45.00K	USD	1 Quarter
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$52.00K	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$-4.54M	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$-4.67M	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-31.00K	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-462.00K	USD	1 Quarter
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$781.00K	USD	1 Quarter
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.61M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.22M	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$2.42M	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$1.84M	USD	1 Quarter
Net decrease (increase) in cash restricted for property improvements	`IncreaseDecreaseInRestrictedCash`	$-349.00K	USD	1 Quarter
Net decrease (increase) in cash restricted for property improvements	`IncreaseDecreaseInRestrictedCash`	$631.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.49M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.05M	USD	1 Quarter
Payments of mortgage debt	`RepaymentsOfSecuredDebt`	$684.00K	USD	1 Quarter
Payments of mortgage debt	`RepaymentsOfSecuredDebt`	$764.00K	USD	1 Quarter
Proceeds from mortgage debt	`ProceedsFromSecuredNotesPayable`	$10.50M	USD	1 Quarter
Proceeds from mortgage debt	`ProceedsFromSecuredNotesPayable`	-	USD	1 Quarter
Net proceeds from credit facility	`ProceedsFromLinesOfCredit`	$2.70M	USD	1 Quarter
Net proceeds from credit facility	`ProceedsFromLinesOfCredit`	$11.90M	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	$133.00K	USD	1 Quarter
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$8.00M	USD	1 Quarter
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$4.99M	USD	1 Quarter
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$4.18M	USD	1 Quarter
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$6.16M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$17.50M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$17.66M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.11M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.17M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	1 Quarter
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.