10-Q Filing

APPLE REIT EIGHT, INC. CIK: 1387361 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001185185-12-000933`
Period End Date	20120331
Filing Date	20120507
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	apple8-20120331.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`	$126.25M	USD	Point-in-time
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$135.32M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $135,325 and $126,248	`RealEstateInvestmentPropertyNet`	$908.92M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $135,325 and $126,248	`RealEstateInvestmentPropertyNet`	$914.59M	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
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndOtherEscrows`	$12.80M	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
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndOtherEscrows`	$11.82M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Due from third party managers, net	`DueFromManagers`	$7.46M	USD	Point-in-time
Due from third party managers, net	`DueFromManagers`	$4.45M	USD	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`	$6.50M	USD	Point-in-time
Other assets, net	`OtherAssets`	$4.84M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	93.32M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	93.51M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$935.70M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$935.71M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	93.32M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	93.51M	shares	Point-in-time
Credit facilities	`LineOfCredit`	$73.21M	USD	Point-in-time
Credit facilities	`LineOfCredit`	$48.10M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$163.04M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$202.40M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$17.73M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$20.87M	USD	Point-in-time
Intangible liabilities, net	`IntangibleLiabilitiesNet`	$9.74M	USD	Point-in-time
Intangible liabilities, net	`IntangibleLiabilitiesNet`	$9.52M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$263.72M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$280.88M	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 93,321,760 and 93,506,042 shares, respectively	`CommonStockValue`	$926.76M	USD	Point-in-time
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding 93,321,760 and 93,506,042 shares, respectively	`CommonStockValue`	$924.73M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$-269.94M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$-254.79M	USD	Point-in-time
TOTAL SHAREHOLDERS' EQUITY	`StockholdersEquity`	$654.82M	USD	Point-in-time
TOTAL SHAREHOLDERS' EQUITY	`StockholdersEquity`	$671.99M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$935.71M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$935.70M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	$37.50M	USD	1 Quarter
Room revenue	`OccupancyRevenue`	$40.24M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$2.82M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$2.98M	USD	1 Quarter
Total revenue	`Revenues`	$40.32M	USD	1 Quarter
Total revenue	`Revenues`	$43.22M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$12.22M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$11.26M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$3.92M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$3.82M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.35M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.57M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$1.95M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$1.98M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.35M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.35M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$1.57M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$1.67M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$1.40M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$1.53M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$2.45M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$2.39M	USD	1 Quarter
Land lease expense	`OperatingLeasesRentExpenseNet`	$1.60M	USD	1 Quarter
Land lease expense	`OperatingLeasesRentExpenseNet`	$1.60M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.13M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.85M	USD	1 Quarter
Depreciation expense	`Depreciation`	$8.83M	USD	1 Quarter
Depreciation expense	`Depreciation`	$9.08M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$39.73M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$42.12M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$586.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.09M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.69M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-3.41M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.11M	USD	1 Quarter
Basic and diluted net loss per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted net loss per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	93.30M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	94.36M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.11M	USD	1 Quarter
Depreciation	`Depreciation`	$8.83M	USD	1 Quarter
Depreciation	`Depreciation`	$9.08M	USD	1 Quarter
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$51.00K	USD	1 Quarter
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$-82.00K	USD	1 Quarter
Increase in due from third party managers	`IncreaseDecreaseInDueFromThirdPartyManager`	$-3.35M	USD	1 Quarter
Increase in due from third party managers	`IncreaseDecreaseInDueFromThirdPartyManager`	$-3.02M	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-901.00K	USD	1 Quarter
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-987.00K	USD	1 Quarter
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.62M	USD	1 Quarter
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.33M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.72M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.43M	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$569.00K	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$2.89M	USD	1 Quarter
Net increase in cash restricted for property improvements	`IncreaseDecreaseInCapitalImprovementReserves`	$754.00K	USD	1 Quarter
Net increase in cash restricted for property improvements	`IncreaseDecreaseInCapitalImprovementReserves`	$975.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.86M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.32M	USD	1 Quarter
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$6.47M	USD	1 Quarter
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$2.97M	USD	1 Quarter
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$5.00M	USD	1 Quarter
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$8.00M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$18.16M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$12.83M	USD	1 Quarter
Proceeds (payments on) extinguished credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	$16.81M	USD	1 Quarter
Proceeds (payments on) extinguished credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	$-73.21M	USD	1 Quarter
Net proceeds from current credit facility	`ProceedsFromLinesOfCredit`	-	USD	1 Quarter
Net proceeds from current credit facility	`ProceedsFromLinesOfCredit`	$48.10M	USD	1 Quarter
Proceeds from mortgage debt	`ProceedsFromOtherDebt`	$40.00M	USD	1 Quarter
Proceeds from mortgage debt	`ProceedsFromOtherDebt`	-	USD	1 Quarter
Payments of mortgage debt	`ProceedsFromRepaymentsOfSecuredDebt`	$-661.00K	USD	1 Quarter
Payments of mortgage debt	`ProceedsFromRepaymentsOfSecuredDebt`	$-529.00K	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	$937.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.56M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.40M	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.