10-Q Filing

APPLE REIT SIX INC CIK: 1277151 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001185185-12-000925`
Period End Date	20120331
Filing Date	20120507
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	apple6-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 50 Cash Flow Statement 42

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$193.86M	USD	Point-in-time
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$185.86M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $193,862 and $185,860, respectively	`RealEstateInvestmentPropertyNet`	$746.35M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $193,862 and $185,860, respectively	`RealEstateInvestmentPropertyNet`	$741.26M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedAssetsAndOtherEscrows`	$3.66M	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
Restricted cash-furniture, fixtures and other escrows	`RestrictedAssetsAndOtherEscrows`	$3.57M	USD	Point-in-time
Due from third party manager, net	`DueFromManagers`	$6.60M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Due from third party manager, net	`DueFromManagers`	$11.59M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Other assets, net	`OtherAssets`	$3.76M	USD	Point-in-time
Other assets, net	`OtherAssets`	$2.81M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.18M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.21M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	91.21M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$760.26M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$759.37M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	91.18M	shares	Point-in-time
Credit facility	`LineOfCredit`	$43.69M	USD	Point-in-time
Credit facility	`LineOfCredit`	$52.54M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$19.18M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$19.38M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$6.32M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$5.67M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$78.04M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$68.74M	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 91,212,249 and 91,181,198 shares, respectively	`CommonStockValue`	$899.35M	USD	Point-in-time
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding 91,212,249 and 91,181,198 shares, respectively	`CommonStockValue`	$899.69M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$-208.74M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$-217.49M	USD	Point-in-time
TOTAL SHAREHOLDERS' EQUITY	`StockholdersEquity`	$690.63M	USD	Point-in-time
TOTAL SHAREHOLDERS' EQUITY	`StockholdersEquity`	$682.23M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$760.26M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$759.37M	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	$50.77M	USD	1 Quarter
Room revenue	`OccupancyRevenue`	$53.92M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$3.76M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$4.07M	USD	1 Quarter
Reimbursed expenses	`ReimbursementRevenue`	$1.82M	USD	1 Quarter
Reimbursed expenses	`ReimbursementRevenue`	$1.91M	USD	1 Quarter
Total revenue	`Revenues`	$59.90M	USD	1 Quarter
Total revenue	`Revenues`	$56.35M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$15.28M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$14.37M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$4.93M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$4.70M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.73M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.42M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$2.37M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$2.26M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.62M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.79M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.41M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.29M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$1.82M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$1.94M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$3.01M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$3.13M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.40M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.25M	USD	1 Quarter
Reimbursed expenses	`OtherGeneralExpense`	$1.91M	USD	1 Quarter
Reimbursed expenses	`OtherGeneralExpense`	$1.82M	USD	1 Quarter
Depreciation expense	`Depreciation`	$7.86M	USD	1 Quarter
Depreciation expense	`Depreciation`	$8.01M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$49.80M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$46.52M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$10.10M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$9.83M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-822.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-889.00K	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.94M	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.28M	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	-	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$515.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.46M	USD	1 Quarter
From continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.10	USD	1 Quarter
From continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.10	USD	1 Quarter
From discontinued operations (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
From discontinued operations (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Total basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.10	USD	1 Quarter
Total basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.10	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	91.36M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	91.08M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$9.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.46M	USD	1 Quarter
Depreciation	`DepreciationIncludingDiscontinuedOperations`	$8.01M	USD	1 Quarter
Depreciation	`DepreciationIncludingDiscontinuedOperations`	$7.86M	USD	1 Quarter
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$36.00K	USD	1 Quarter
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$21.00K	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$-4.99M	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$-4.96M	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-629.00K	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.10M	USD	1 Quarter
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$863.00K	USD	1 Quarter
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-307.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.09M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.44M	USD	1 Quarter
Capital improvements, net	`PaymentsForCapitalImprovements`	$3.06M	USD	1 Quarter
Capital improvements, net	`PaymentsForCapitalImprovements`	$3.53M	USD	1 Quarter
Net increase in cash restricted for property improvements	`IncreaseDecreaseInRestrictedCash`	$76.00K	USD	1 Quarter
Net increase in cash restricted for property improvements	`IncreaseDecreaseInRestrictedCash`	$54.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.11M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.61M	USD	1 Quarter
Net proceeds from credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$8.85M	USD	1 Quarter
Net proceeds from credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$9.26M	USD	1 Quarter
Payments of mortgage debt	`ProceedsFromRepaymentsOfSecuredDebt`	$-185.00K	USD	1 Quarter
Payments of mortgage debt	`ProceedsFromRepaymentsOfSecuredDebt`	$-206.00K	USD	1 Quarter
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$7.34M	USD	1 Quarter
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$5.40M	USD	1 Quarter
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$6.66M	USD	1 Quarter
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$5.05M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$18.03M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$17.57M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.01M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.84M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-32.00K	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`	$32.00K	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`	$32.00K	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.