10-Q Filing

APPLE REIT TEN, INC. CIK: 1498864 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001185185-12-001734`
Period End Date	20120630
Filing Date	20120813
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	apple10-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 80 Cash Flow Statement 55

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`	$13.50M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Investment in real estate, net of accumulated depreciation of $13,497 and $6,009, respectively	`RealEstateInvestmentPropertyNet`	$452.20M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $13,497 and $6,009, respectively	`RealEstateInvestmentPropertyNet`	$484.23M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$101.64M	USD	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
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$142.84M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Due from third party managers, net	`DueFromManagers`	$5.85M	USD	Point-in-time
Due from third party managers, net	`DueFromManagers`	$1.24M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	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
Other assets, net	`OtherAssets`	$14.13M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	43.50M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$471.22M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	57.08M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$605.86M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	43.50M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	57.08M	shares	Point-in-time
Notes payable	`SecuredDebt`	$81.96M	USD	Point-in-time
Notes payable	`SecuredDebt`	$69.64M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$5.67M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$6.17M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$88.13M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$75.31M	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 outstanding 57,080,924 and 43,502,273 shares, respectively	`CommonStockValue`	$558.50M	USD	Point-in-time
Common stock, no par value, authorized 400,000,000 shares; issued and outstanding 57,080,924 and 43,502,273 shares, respectively	`CommonStockValue`	$424.63M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-5.17M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$2.71M	USD	Point-in-time
Cumulative distributions paid	`AccumulatedDistributionsInExcessOfNetIncome`	$23.59M	USD	Point-in-time
Cumulative distributions paid	`AccumulatedDistributionsInExcessOfNetIncome`	$43.53M	USD	Point-in-time
TOTAL SHAREHOLDERS' EQUITY	`StockholdersEquity`	$517.73M	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`	$605.86M	USD	Point-in-time

Income Statement 80 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	$5.96M	USD	1 Quarter
Room revenue	`OccupancyRevenue`	$28.26M	USD	1 Quarter
Room revenue	`OccupancyRevenue`	$50.80M	USD	2 Qtrs
Room revenue	`OccupancyRevenue`	$6.71M	USD	2 Qtrs
Other revenue	`OtherHotelOperatingRevenue`	$5.15M	USD	2 Qtrs
Other revenue	`OtherHotelOperatingRevenue`	$813.00K	USD	2 Qtrs
Other revenue	`OtherHotelOperatingRevenue`	$2.86M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$669.00K	USD	1 Quarter
Total revenue	`Revenues`	$55.94M	USD	2 Qtrs
Total revenue	`Revenues`	$6.63M	USD	1 Quarter
Total revenue	`Revenues`	$31.12M	USD	1 Quarter
Total revenue	`Revenues`	$7.52M	USD	2 Qtrs
Operating expense	`DirectCostsOfHotels`	$1.75M	USD	2 Qtrs
Operating expense	`DirectCostsOfHotels`	$13.69M	USD	2 Qtrs
Operating expense	`DirectCostsOfHotels`	$1.51M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$7.36M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$4.40M	USD	2 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$516.00K	USD	2 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$462.00K	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$2.32M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$2.60M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$486.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$561.00K	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$4.89M	USD	2 Qtrs
Utilities	`UtilitiesCosts`	$225.00K	USD	1 Quarter
Utilities	`UtilitiesCosts`	$259.00K	USD	2 Qtrs
Utilities	`UtilitiesCosts`	$2.00M	USD	2 Qtrs
Utilities	`UtilitiesCosts`	$1.03M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$1.01M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$1.86M	USD	2 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$197.00K	USD	2 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$175.00K	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.25M	USD	2 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$338.00K	USD	2 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$1.24M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$300.00K	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$1.73M	USD	2 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$211.00K	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$238.00K	USD	2 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$916.00K	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$465.00K	USD	2 Qtrs
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$4.18M	USD	2 Qtrs
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$2.20M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$401.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.37M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$777.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.23M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.32M	USD	2 Qtrs
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$934.00K	USD	2 Qtrs
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$4.55M	USD	2 Qtrs
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$2.53M	USD	1 Quarter
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$290.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$7.49M	USD	2 Qtrs
Depreciation expense	`Depreciation`	$1.10M	USD	2 Qtrs
Depreciation expense	`Depreciation`	$3.80M	USD	1 Quarter
Depreciation expense	`Depreciation`	$884.00K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$7.96M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$24.00M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$11.34M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$45.75M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$10.20M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$7.12M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-1.33M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-3.82M	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$247.00K	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$151.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-1.22M	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-2.32M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-1.18M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$7.87M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$5.90M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.57M	USD	2 Qtrs
Basic and diluted net income (loss) per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.18	USD	2 Qtrs
Basic and diluted net income (loss) per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.16	USD	2 Qtrs
Basic and diluted net income (loss) per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.11	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)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	28.61M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.55M	shares	2 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	51.83M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	48.71M	shares	2 Qtrs

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-1.18M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$7.87M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$5.90M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.57M	USD	2 Qtrs
Depreciation	`Depreciation`	$7.49M	USD	2 Qtrs
Depreciation	`Depreciation`	$1.10M	USD	2 Qtrs
Depreciation	`Depreciation`	$3.80M	USD	1 Quarter
Depreciation	`Depreciation`	$884.00K	USD	1 Quarter
Amortization of deferred financing costs, fair value adjustments and other noncash expenses	`AmortizationOfDeferredFinancingCostsFairValueAdjustments`	$110.00K	USD	2 Qtrs
Amortization of deferred financing costs, fair value adjustments and other noncash expenses	`AmortizationOfDeferredFinancingCostsFairValueAdjustments`	$51.00K	USD	2 Qtrs
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$4.58M	USD	2 Qtrs
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$1.77M	USD	2 Qtrs
Increase in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$52.00K	USD	2 Qtrs
Increase in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$174.00K	USD	2 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$804.00K	USD	2 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$696.00K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.55M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.52M	USD	2 Qtrs
Cash paid for the acquisition of hotel properties	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$188.46M	USD	2 Qtrs
Cash paid for the acquisition of hotel properties	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$25.70M	USD	2 Qtrs
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	$2.57M	USD	2 Qtrs
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	$290.00K	USD	2 Qtrs
Capital improvements	`PaymentsForCapitalImprovements`	$3.63M	USD	2 Qtrs
Capital improvements	`PaymentsForCapitalImprovements`	-	USD	2 Qtrs
Increase in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$427.00K	USD	2 Qtrs
Increase in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-191.03M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.06M	USD	2 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$138.71M	USD	2 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$345.30M	USD	2 Qtrs
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$4.85M	USD	2 Qtrs
Redemptions of Units	`PaymentsForRedemptionOfUnits`	-	USD	2 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$19.93M	USD	2 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$7.61M	USD	2 Qtrs
Payments of notes payable	`ProceedsFromRepaymentsOfSecuredDebt`	$-693.00K	USD	2 Qtrs
Payments of notes payable	`ProceedsFromRepaymentsOfSecuredDebt`	-	USD	2 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$132.00K	USD	2 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	2 Qtrs
Payments on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-400.00K	USD	2 Qtrs
Payments on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$337.29M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$113.10M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$142.71M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$94.57M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$101.64M	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`	$142.84M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$101.64M	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`	$142.84M	USD	Point-in-time
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$13.07M	USD	2 Qtrs
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	-	USD	2 Qtrs
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$69.40M	USD	Annual

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