10-Q Filing

APPLE REIT TEN, INC. CIK: 1498864 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001185185-12-000928`
Period End Date	20120331
Filing Date	20120507
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	apple10-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 40 Cash Flow Statement 48

Balance Sheet 44 line items

Line Item	Tag	Value	Unit	Period
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$6.01M	USD	Point-in-time
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$9.69M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Investment in real estate, net of accumulated depreciation of $9,694 and $6,009, respectively	`RealEstateInvestmentPropertyNet`	$452.20M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $9,694 and $6,009, respectively	`RealEstateInvestmentPropertyNet`	$475.04M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.20M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$124.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.08M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$120.71M	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
Due from third party managers, net	`DueFromManagers`	$4.77M	USD	Point-in-time
Due from third party managers, net	`DueFromManagers`	$1.24M	USD	Point-in-time
Other assets, net	`OtherAssets`	$13.77M	USD	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, net	`OtherAssets`	$10.70M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$471.22M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	43.50M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$531.78M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	49.15M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	49.15M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	43.50M	shares	Point-in-time
Notes payable	`SecuredDebt`	$82.34M	USD	Point-in-time
Notes payable	`SecuredDebt`	$69.64M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$5.18M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$5.67M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$75.31M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$87.52M	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 issued and outstanding 49,151,529 and 43,502,273 shares, respectively	`CommonStockValue`	$424.63M	USD	Point-in-time
Common stock, no par value, authorized 400,000,000 shares; issued and issued and outstanding 49,151,529 and 43,502,273 shares, respectively	`CommonStockValue`	$480.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.17M	USD	Point-in-time
Cumulative distributions paid	`AccumulatedDistributionsInExcessOfNetIncome`	$-23.59M	USD	Point-in-time
Cumulative distributions paid	`AccumulatedDistributionsInExcessOfNetIncome`	$-32.93M	USD	Point-in-time
TOTAL SHAREHOLDERS' EQUITY	`StockholdersEquity`	$444.27M	USD	Point-in-time
TOTAL SHAREHOLDERS' EQUITY	`StockholdersEquity`	$395.92M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$471.22M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$531.78M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	$22.54M	USD	1 Quarter
Room revenue	`OccupancyRevenue`	$749.00K	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$144.00K	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$2.29M	USD	1 Quarter
Total revenue	`Revenues`	$893.00K	USD	1 Quarter
Total revenue	`Revenues`	$24.82M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$6.34M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$234.00K	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$2.07M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$54.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$2.29M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$75.00K	USD	1 Quarter
Utilities	`UtilitiesCosts`	$34.00K	USD	1 Quarter
Utilities	`UtilitiesCosts`	$973.00K	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$848.00K	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$22.00K	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$38.00K	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$1.01M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$811.00K	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$27.00K	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$64.00K	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$1.99M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.09M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$597.00K	USD	1 Quarter
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$644.00K	USD	1 Quarter
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$2.02M	USD	1 Quarter
Depreciation expense	`Depreciation`	$214.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$3.69M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$21.75M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$3.38M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$3.07M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-2.49M	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$96.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-1.10M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.97M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.39M	USD	1 Quarter
Basic and diluted net income (loss) per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.23	USD	1 Quarter
Basic and diluted net income (loss) per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.04	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	45.59M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	10.38M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$1.97M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.39M	USD	1 Quarter
Depreciation	`Depreciation`	$214.00K	USD	1 Quarter
Depreciation	`Depreciation`	$3.69M	USD	1 Quarter
Amortization of deferred financing costs, fair value adjustments and other noncash expenses	`AmortizationOfDeferredFinancingCostsFairValueAdjustments`	$31.00K	USD	1 Quarter
Amortization of deferred financing costs, fair value adjustments and other noncash expenses	`AmortizationOfDeferredFinancingCostsFairValueAdjustments`	$28.00K	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$-478.00K	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$-3.50M	USD	1 Quarter
Increase in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-100.00K	USD	1 Quarter
Increase in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-134.00K	USD	1 Quarter
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-144.00K	USD	1 Quarter
Increase (decrease) in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$235.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.91M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.49M	USD	1 Quarter
Cash paid for the acquisition of hotel properties	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$13.92M	USD	1 Quarter
Cash paid for the acquisition of hotel properties	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$90.19M	USD	1 Quarter
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	-	USD	1 Quarter
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	$500.00K	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$2.58M	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	-	USD	1 Quarter
Increase in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$214.00K	USD	1 Quarter
Increase in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-90.69M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-16.71M	USD	1 Quarter
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$216.01M	USD	1 Quarter
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$55.74M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$1.85M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$9.34M	USD	1 Quarter
Payments of notes payable	`ProceedsFromRepaymentsOfSecuredDebt`	-	USD	1 Quarter
Payments of notes payable	`ProceedsFromRepaymentsOfSecuredDebt`	$-343.00K	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	$132.00K	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Payments on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-400.00K	USD	1 Quarter
Payments on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$45.93M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$213.76M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$120.58M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$31.12M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$38.20M	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`	$7.08M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$120.71M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$38.20M	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`	$7.08M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$120.71M	USD	Point-in-time
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$13.07M	USD	1 Quarter
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	-	USD	1 Quarter

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