10-Q Filing

APPLE REIT SIX INC CIK: 1277151 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001185185-12-001712`
Period End Date	20120630
Filing Date	20120813
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	apple6-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 100 Cash Flow Statement 48

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$185.86M	USD	Point-in-time
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$201.72M	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 $201,724 and $185,860, respectively	`RealEstateInvestmentPropertyNet`	$735.54M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $201,724 and $185,860, respectively	`RealEstateInvestmentPropertyNet`	$746.35M	USD	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	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	`RestrictedAssetsAndOtherEscrows`	$3.57M	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`	$3.35M	USD	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
Due from third party manager, net	`DueFromManagers`	$13.60M	USD	Point-in-time
Due from third party manager, net	`DueFromManagers`	$6.60M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.18M	shares	Point-in-time
Other assets, net	`OtherAssets`	$3.11M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.22M	shares	Point-in-time
Other assets, net	`OtherAssets`	$2.81M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	91.18M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	91.22M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$759.37M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$755.59M	USD	Point-in-time
Credit facility	`LineOfCreditFacilityAmountOutstanding`	$55.05M	USD	Point-in-time
Credit facility	`LineOfCreditFacilityAmountOutstanding`	$43.69M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$14.19M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$19.38M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$6.31M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$5.67M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$75.55M	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 91,219,408 and 91,181,198 shares, respectively	`CommonStockValue`	$899.87M	USD	Point-in-time
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding 91,219,408 and 91,181,198 shares, respectively	`CommonStockValue`	$899.35M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$219.85M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$208.74M	USD	Point-in-time
TOTAL SHAREHOLDERS' EQUITY	`StockholdersEquity`	$680.04M	USD	Point-in-time
TOTAL SHAREHOLDERS' EQUITY	`StockholdersEquity`	$690.63M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$759.37M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$755.59M	USD	Point-in-time

Income Statement 100 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	$116.11M	USD	2 Qtrs
Room revenue	`OccupancyRevenue`	$57.82M	USD	1 Quarter
Room revenue	`OccupancyRevenue`	$108.59M	USD	2 Qtrs
Room revenue	`OccupancyRevenue`	$62.19M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$8.22M	USD	2 Qtrs
Other revenue	`OtherHotelOperatingRevenue`	$7.90M	USD	2 Qtrs
Other revenue	`OtherHotelOperatingRevenue`	$4.15M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$4.14M	USD	1 Quarter
Reimbursed expenses	`ReimbursementRevenue`	$3.80M	USD	2 Qtrs
Reimbursed expenses	`ReimbursementRevenue`	$3.65M	USD	2 Qtrs
Reimbursed expenses	`ReimbursementRevenue`	$1.82M	USD	1 Quarter
Reimbursed expenses	`ReimbursementRevenue`	$1.89M	USD	1 Quarter
Total revenue	`Revenues`	$128.13M	USD	2 Qtrs
Total revenue	`Revenues`	$120.14M	USD	2 Qtrs
Total revenue	`Revenues`	$68.22M	USD	1 Quarter
Total revenue	`Revenues`	$63.78M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$15.52M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$31.48M	USD	2 Qtrs
Operating expense	`DirectCostsOfHotels`	$16.20M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$29.89M	USD	2 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$4.83M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$9.97M	USD	2 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$9.53M	USD	2 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$5.05M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$9.38M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$10.07M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$5.34M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.96M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$2.24M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$4.61M	USD	2 Qtrs
Utilities	`UtilitiesCosts`	$2.25M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$4.52M	USD	2 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$5.37M	USD	2 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$5.60M	USD	2 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.75M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.81M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$4.89M	USD	2 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$5.22M	USD	2 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.81M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.61M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$3.93M	USD	2 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$2.29M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$4.23M	USD	2 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$2.11M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$6.09M	USD	2 Qtrs
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$3.09M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$3.36M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$6.50M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.70M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.25M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.46M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.85M	USD	1 Quarter
Reimbursed expenses	`OtherGeneralExpense`	$1.82M	USD	1 Quarter
Reimbursed expenses	`OtherGeneralExpense`	$3.80M	USD	2 Qtrs
Reimbursed expenses	`OtherGeneralExpense`	$3.65M	USD	2 Qtrs
Reimbursed expenses	`OtherGeneralExpense`	$1.89M	USD	1 Quarter
Depreciation expense	`Depreciation`	$16.46M	USD	2 Qtrs
Depreciation expense	`Depreciation`	$15.87M	USD	2 Qtrs
Depreciation expense	`Depreciation`	$8.60M	USD	1 Quarter
Depreciation expense	`Depreciation`	$7.86M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$49.98M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$101.51M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$96.50M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$51.71M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$26.62M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$13.81M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$16.52M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$23.64M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-1.67M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-846.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-1.96M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-1.07M	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$15.67M	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$21.68M	USD	2 Qtrs
Income from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$24.95M	USD	2 Qtrs
Income from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$12.74M	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	-	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	-	USD	2 Qtrs
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$156.00K	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$671.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$24.95M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$22.35M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$12.89M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.67M	USD	1 Quarter
From continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.17	USD	1 Quarter
From continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.27	USD	2 Qtrs
From continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.23	USD	2 Qtrs
From continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.14	USD	1 Quarter
From discontinued operations (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	2 Qtrs
From discontinued operations (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
From discontinued operations (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$0.01	USD	2 Qtrs
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`	$0.17	USD	1 Quarter
Total basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.27	USD	2 Qtrs
Total basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.24	USD	2 Qtrs
Total basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.14	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.10M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.09M	shares	2 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.34M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.35M	shares	2 Qtrs

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$24.95M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$22.35M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$12.89M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.67M	USD	1 Quarter
Depreciation	`DepreciationIncludingDiscontinuedOperations`	$15.87M	USD	2 Qtrs
Depreciation	`DepreciationIncludingDiscontinuedOperations`	$16.46M	USD	2 Qtrs
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$169.00K	USD	2 Qtrs
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$309.00K	USD	2 Qtrs
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$6.73M	USD	2 Qtrs
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$7.00M	USD	2 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$561.00K	USD	2 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$888.00K	USD	2 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.03M	USD	2 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$26.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$34.45M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$31.52M	USD	2 Qtrs
Capital improvements, net	`PaymentsForCapitalImprovements`	$7.52M	USD	2 Qtrs
Capital improvements, net	`PaymentsForCapitalImprovements`	$5.37M	USD	2 Qtrs
Proceeds from sale of assets, net	`ProceedsFromSaleOfPropertyHeldForSale`	-	USD	2 Qtrs
Proceeds from sale of assets, net	`ProceedsFromSaleOfPropertyHeldForSale`	$10.76M	USD	2 Qtrs
Net decrease in cash restricted for property improvements	`IncreaseDecreaseInRestrictedCash`	$-303.00K	USD	2 Qtrs
Net decrease in cash restricted for property improvements	`IncreaseDecreaseInRestrictedCash`	$-349.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$3.59M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.07M	USD	2 Qtrs
Net proceeds from credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$11.36M	USD	2 Qtrs
Net proceeds from credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$4.14M	USD	2 Qtrs
Payments of mortgage debt	`ProceedsFromRepaymentsOfSecuredDebt`	$-4.33M	USD	2 Qtrs
Payments of mortgage debt	`ProceedsFromRepaymentsOfSecuredDebt`	$-5.15M	USD	2 Qtrs
Payments of financing costs related to borrowings	`PaymentsOfFinancingCosts`	$300.00K	USD	2 Qtrs
Payments of financing costs related to borrowings	`PaymentsOfFinancingCosts`	-	USD	2 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$14.69M	USD	2 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$10.48M	USD	2 Qtrs
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$10.05M	USD	2 Qtrs
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$14.16M	USD	2 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$36.06M	USD	2 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$35.15M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-35.11M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-29.42M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-32.00K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	2 Qtrs
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.