10-Q Filing

APPLE REIT SEVEN, INC. CIK: 1329011 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001185185-12-002383`
Period End Date	20120930
Filing Date	20121106
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	apple7-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 42 Income Statement 76 Cash Flow Statement 52

Balance Sheet 42 line items

Line Item	Tag	Value	Unit	Period
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$174.10M	USD	Point-in-time
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$148.26M	USD	Point-in-time
Preferred stock, shares authorized (in Shares)	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Preferred stock, shares authorized (in Shares)	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Investment in real estate, net of accumulated depreciation of $174,105 and $148,257, respectively	`RealEstateInvestmentPropertyNet`	$846.38M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $174,105 and $148,257, respectively	`RealEstateInvestmentPropertyNet`	$826.35M	USD	Point-in-time
Preferred stock, shares issued (in Shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedAssetsAndOtherEscrows`	$7.14M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedAssetsAndOtherEscrows`	$11.12M	USD	Point-in-time
Preferred stock, shares issued (in Shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Due from third party managers, net	`DueFromManagers`	$9.12M	USD	Point-in-time
Due from third party managers, net	`DueFromManagers`	$6.43M	USD	Point-in-time
Preferred stock, shares outstanding (in Shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in Shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, shares authorized (in Shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized (in Shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Other assets, net	`OtherAssets`	$5.20M	USD	Point-in-time
Other assets, net	`OtherAssets`	$5.11M	USD	Point-in-time
Total Assets	`Assets`	$851.71M	USD	Point-in-time
Common stock, shares issued (in Shares)	`CommonStockSharesIssued`	91.11M	shares	Point-in-time
Total Assets	`Assets`	$865.14M	USD	Point-in-time
Common stock, shares issued (in Shares)	`CommonStockSharesIssued`	90.96M	shares	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	90.96M	shares	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	91.11M	shares	Point-in-time
Credit facility	`LineOfCreditFacilityAmountOutstanding`	$64.70M	USD	Point-in-time
Credit facility	`LineOfCreditFacilityAmountOutstanding`	$22.60M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$170.40M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$110.15M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$12.31M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$13.81M	USD	Point-in-time
Total Liabilities	`Liabilities`	$206.81M	USD	Point-in-time
Total Liabilities	`Liabilities`	$187.16M	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 90,958,090 and 91,109,651 shares, respectively	`CommonStockValue`	$900.55M	USD	Point-in-time
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding 90,958,090 and 91,109,651 shares, respectively	`CommonStockValue`	$898.99M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$254.12M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$222.60M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$677.98M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$644.90M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$865.14M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$851.71M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	$150.55M	USD	3 Qtrs
Room revenue	`OccupancyRevenue`	$50.92M	USD	1 Quarter
Room revenue	`OccupancyRevenue`	$145.26M	USD	3 Qtrs
Room revenue	`OccupancyRevenue`	$52.08M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$4.66M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$14.89M	USD	3 Qtrs
Other revenue	`OtherHotelOperatingRevenue`	$4.91M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$14.92M	USD	3 Qtrs
Total revenue	`Revenues`	$165.44M	USD	3 Qtrs
Total revenue	`Revenues`	$160.18M	USD	3 Qtrs
Total revenue	`Revenues`	$56.75M	USD	1 Quarter
Total revenue	`Revenues`	$55.83M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$15.15M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$43.82M	USD	3 Qtrs
Operating expense	`DirectCostsOfHotels`	$14.54M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$42.60M	USD	3 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$12.09M	USD	3 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$4.07M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$12.09M	USD	3 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$4.13M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.33M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$12.80M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$12.13M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$4.17M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$6.91M	USD	3 Qtrs
Utilities	`UtilitiesCosts`	$2.59M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$2.62M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$6.76M	USD	3 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.37M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.57M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$7.34M	USD	3 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$6.92M	USD	3 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$6.90M	USD	3 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.39M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$6.64M	USD	3 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.33M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$5.31M	USD	3 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$1.83M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$1.88M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$5.60M	USD	3 Qtrs
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$9.36M	USD	3 Qtrs
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$3.31M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$9.72M	USD	3 Qtrs
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$3.10M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.78M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.69M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.27M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.54M	USD	3 Qtrs
Depreciation expense	`Depreciation`	$8.65M	USD	1 Quarter
Depreciation expense	`Depreciation`	$8.49M	USD	1 Quarter
Depreciation expense	`Depreciation`	$25.64M	USD	3 Qtrs
Depreciation expense	`Depreciation`	$25.85M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$131.38M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$46.69M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$44.79M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$136.41M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$10.06M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$29.03M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$11.04M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$28.80M	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-7.43M	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-8.06M	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-2.60M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.76M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.30M	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.97M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$8.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.37M	USD	3 Qtrs
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.23	USD	3 Qtrs
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.23	USD	3 Qtrs
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.09	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.08	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.56M	shares	3 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.36M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	90.90M	shares	3 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	90.87M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$7.30M	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.97M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$8.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.37M	USD	3 Qtrs
Depreciation	`Depreciation`	$8.65M	USD	1 Quarter
Depreciation	`Depreciation`	$8.49M	USD	1 Quarter
Depreciation	`Depreciation`	$25.64M	USD	3 Qtrs
Depreciation	`Depreciation`	$25.85M	USD	3 Qtrs
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$297.00K	USD	3 Qtrs
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$419.00K	USD	3 Qtrs
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$2.70M	USD	3 Qtrs
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$3.40M	USD	3 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$650.00K	USD	3 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$362.00K	USD	3 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.83M	USD	3 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.93M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$45.49M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$45.69M	USD	3 Qtrs
Capital improvements	`PaymentsForCapitalImprovements`	$6.01M	USD	3 Qtrs
Capital improvements	`PaymentsForCapitalImprovements`	$6.25M	USD	3 Qtrs
Net decrease (increase) in cash restricted for property improvements	`IncreaseDecreaseInRestrictedCash`	$3.27M	USD	3 Qtrs
Net decrease (increase) in cash restricted for property improvements	`IncreaseDecreaseInRestrictedCash`	$-9.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.53M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.00M	USD	3 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$17.48M	USD	3 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$12.18M	USD	3 Qtrs
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$24.04M	USD	3 Qtrs
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$13.84M	USD	3 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$52.48M	USD	3 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$52.87M	USD	3 Qtrs
Proceeds from (payments on) extinguished credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-64.70M	USD	3 Qtrs
Proceeds from (payments on) extinguished credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$11.70M	USD	3 Qtrs
Net proceeds from existing credit facility	`ProceedsFromLinesOfCredit`	$22.60M	USD	3 Qtrs
Net proceeds from existing credit facility	`ProceedsFromLinesOfCredit`	-	USD	3 Qtrs
Proceeds from mortgage debt	`ProceedsFromSecuredNotesPayable`	$10.50M	USD	3 Qtrs
Proceeds from mortgage debt	`ProceedsFromSecuredNotesPayable`	$63.00M	USD	3 Qtrs
Payments of mortgage debt	`RepaymentsOfSecuredDebt`	$2.30M	USD	3 Qtrs
Payments of mortgage debt	`RepaymentsOfSecuredDebt`	$2.12M	USD	3 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$628.00K	USD	3 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$135.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-39.49M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-36.17M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	3 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`	-	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.