10-Q Filing

APPLE REIT EIGHT, INC. CIK: 1387361 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001185185-12-001714`
Period End Date	20120630
Filing Date	20120813
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	apple8-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 45 Income Statement 80 Cash Flow Statement 52

Balance Sheet 45 line items

Line Item	Tag	Value	Unit	Period
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$144.57M	USD	Point-in-time
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$126.25M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $144,574 and $126,248, respectively	`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
Investment in real estate, net of accumulated depreciation of $144,574 and $126,248, respectively	`RealEstateInvestmentPropertyNet`	$903.89M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndOtherEscrows`	$13.58M	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`	$4.45M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Due from third party managers, net	`DueFromManagers`	$10.00M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Other assets, net	`OtherAssets`	$5.76M	USD	Point-in-time
Other assets, net	`OtherAssets`	$4.84M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$952.98M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$933.24M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	93.12M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$935.71M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	93.51M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	93.12M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	93.51M	shares	Point-in-time
Credit facilities	`LineOfCreditFacilityAmountOutstanding`	$56.50M	USD	Point-in-time
Credit facilities	`LineOfCreditFacilityAmountOutstanding`	$73.21M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$201.32M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$163.04M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$21.54M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$17.73M	USD	Point-in-time
Intangible liabilities, net	`IntangibleLiabilitiesNet`	$9.74M	USD	Point-in-time
Intangible liabilities, net	`IntangibleLiabilitiesNet`	$9.31M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$263.72M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$288.66M	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 93,121,977 and 93,506,042 shares, respectively	`CommonStockValue`	$922.69M	USD	Point-in-time
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding 93,121,977 and 93,506,042 shares, respectively	`CommonStockValue`	$926.76M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$254.79M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$278.14M	USD	Point-in-time
TOTAL SHAREHOLDERS' EQUITY	`StockholdersEquity`	$644.58M	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`	$933.24M	USD	Point-in-time

Income Statement 80 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	$49.98M	USD	1 Quarter
Room revenue	`OccupancyRevenue`	$48.39M	USD	1 Quarter
Room revenue	`OccupancyRevenue`	$90.22M	USD	2 Qtrs
Room revenue	`OccupancyRevenue`	$85.89M	USD	2 Qtrs
Other revenue	`OtherHotelOperatingRevenue`	$6.32M	USD	2 Qtrs
Other revenue	`OtherHotelOperatingRevenue`	$3.49M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$3.65M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$6.62M	USD	2 Qtrs
Total revenue	`Revenues`	$96.85M	USD	2 Qtrs
Total revenue	`Revenues`	$51.88M	USD	1 Quarter
Total revenue	`Revenues`	$92.20M	USD	2 Qtrs
Total revenue	`Revenues`	$53.63M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$13.63M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$24.10M	USD	2 Qtrs
Operating expense	`DirectCostsOfHotels`	$25.86M	USD	2 Qtrs
Operating expense	`DirectCostsOfHotels`	$12.84M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$4.14M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$7.96M	USD	2 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$8.06M	USD	2 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$4.14M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.03M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$7.60M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$7.26M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$3.91M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$2.01M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$3.93M	USD	2 Qtrs
Utilities	`UtilitiesCosts`	$3.99M	USD	2 Qtrs
Utilities	`UtilitiesCosts`	$1.98M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$4.80M	USD	2 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$4.94M	USD	2 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.59M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.45M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.05M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$3.79M	USD	2 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.12M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$3.62M	USD	2 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$3.23M	USD	2 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$3.43M	USD	2 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$1.90M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$1.83M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$2.50M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$4.79M	USD	2 Qtrs
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$2.34M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$4.88M	USD	2 Qtrs
Land lease expense	`OperatingLeasesRentExpenseNet`	$3.20M	USD	2 Qtrs
Land lease expense	`OperatingLeasesRentExpenseNet`	$1.60M	USD	1 Quarter
Land lease expense	`OperatingLeasesRentExpenseNet`	$1.60M	USD	1 Quarter
Land lease expense	`OperatingLeasesRentExpenseNet`	$3.19M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.66M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.54M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.41M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.50M	USD	2 Qtrs
Depreciation expense	`Depreciation`	$18.03M	USD	2 Qtrs
Depreciation expense	`Depreciation`	$18.33M	USD	2 Qtrs
Depreciation expense	`Depreciation`	$9.25M	USD	1 Quarter
Depreciation expense	`Depreciation`	$9.20M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$43.77M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$83.50M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$45.40M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$87.52M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$8.23M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$8.12M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$8.70M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$9.33M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-3.63M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-6.04M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-7.04M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-3.34M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.77M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.61M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.67M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.29M	USD	2 Qtrs
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.05	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.05	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.03	USD	2 Qtrs
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.02	USD	2 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	93.20M	shares	2 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	93.11M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	94.28M	shares	2 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	94.20M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.77M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.61M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.67M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.29M	USD	2 Qtrs
Depreciation	`Depreciation`	$18.03M	USD	2 Qtrs
Depreciation	`Depreciation`	$18.33M	USD	2 Qtrs
Depreciation	`Depreciation`	$9.25M	USD	1 Quarter
Depreciation	`Depreciation`	$9.20M	USD	1 Quarter
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$-27.00K	USD	2 Qtrs
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$322.00K	USD	2 Qtrs
Increase in due from third party managers	`IncreaseDecreaseInDueFromThirdPartyManager`	$5.20M	USD	2 Qtrs
Increase in due from third party managers	`IncreaseDecreaseInDueFromThirdPartyManager`	$5.55M	USD	2 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$567.00K	USD	2 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$893.00K	USD	2 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.73M	USD	2 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.76M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$17.55M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.34M	USD	2 Qtrs
Capital improvements	`PaymentsForCapitalImprovements`	$1.50M	USD	2 Qtrs
Capital improvements	`PaymentsForCapitalImprovements`	$7.06M	USD	2 Qtrs
Net increase in cash restricted for property improvements	`IncreaseDecreaseInCapitalImprovementReserves`	$863.00K	USD	2 Qtrs
Net increase in cash restricted for property improvements	`IncreaseDecreaseInCapitalImprovementReserves`	$1.68M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.36M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.74M	USD	2 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$12.94M	USD	2 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$5.78M	USD	2 Qtrs
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$16.00M	USD	2 Qtrs
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$9.99M	USD	2 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$36.29M	USD	2 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$25.63M	USD	2 Qtrs
Proceeds (payments on) extinguished credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	$24.43M	USD	2 Qtrs
Proceeds (payments on) extinguished credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	$-73.21M	USD	2 Qtrs
Net proceeds from current credit facility	`ProceedsFromLinesOfCredit`	-	USD	2 Qtrs
Net proceeds from current credit facility	`ProceedsFromLinesOfCredit`	$56.50M	USD	2 Qtrs
Proceeds from mortgage debt	`ProceedsFromIssuanceOfSecuredDebt`	$40.00M	USD	2 Qtrs
Proceeds from mortgage debt	`ProceedsFromIssuanceOfSecuredDebt`	-	USD	2 Qtrs
Payments of mortgage debt	`ProceedsFromRepaymentsOfSecuredDebt`	$-1.31M	USD	2 Qtrs
Payments of mortgage debt	`ProceedsFromRepaymentsOfSecuredDebt`	$-941.00K	USD	2 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$38.00K	USD	2 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$943.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.81M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.90M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$80.00K	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$80.00K	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`	$80.00K	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.