10-Q Filing

APPLE REIT SIX INC CIK: 1277151 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001185185-12-002385`
Period End Date	20120930
Filing Date	20121106
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	apple6-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 100 Cash Flow Statement 50

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$209.38M	USD	Point-in-time
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$185.86M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $209,379 and $185,860, respectively	`RealEstateInvestmentPropertyNet`	$730.83M	USD	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 $209,379 and $185,860, respectively	`RealEstateInvestmentPropertyNet`	$746.35M	USD	Point-in-time
Preferred stock, shares authorized (in Shares)	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Preferred stock, shares issued (in Shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.00K	USD	Point-in-time
Preferred stock, shares issued (in Shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Preferred stock, shares outstanding (in Shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedAssetsAndOtherEscrows`	$3.57M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedAssetsAndOtherEscrows`	$2.89M	USD	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
Due from third party manager, net	`DueFromManagers`	$6.60M	USD	Point-in-time
Common stock, shares authorized (in Shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Due from third party manager, net	`DueFromManagers`	$11.24M	USD	Point-in-time
Common stock, shares issued (in Shares)	`CommonStockSharesIssued`	91.18M	shares	Point-in-time
Other assets, net	`OtherAssets`	$2.79M	USD	Point-in-time
Common stock, shares issued (in Shares)	`CommonStockSharesIssued`	91.30M	shares	Point-in-time
Other assets, net	`OtherAssets`	$2.81M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$759.37M	USD	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	91.30M	shares	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	91.18M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$747.76M	USD	Point-in-time
Credit facility	`LineOfCreditFacilityAmountOutstanding`	$43.69M	USD	Point-in-time
Credit facility	`LineOfCreditFacilityAmountOutstanding`	$26.27M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$32.37M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$19.38M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$5.67M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$8.01M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$66.64M	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 91,301,572 and 91,181,198 shares, respectively	`CommonStockValue`	$900.78M	USD	Point-in-time
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding 91,301,572 and 91,181,198 shares, respectively	`CommonStockValue`	$899.35M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$219.69M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$208.74M	USD	Point-in-time
TOTAL SHAREHOLDERS' EQUITY	`StockholdersEquity`	$690.63M	USD	Point-in-time
TOTAL SHAREHOLDERS' EQUITY	`StockholdersEquity`	$681.11M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$759.37M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$747.76M	USD	Point-in-time

Income Statement 100 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	$66.51M	USD	1 Quarter
Room revenue	`OccupancyRevenue`	$182.62M	USD	3 Qtrs
Room revenue	`OccupancyRevenue`	$170.24M	USD	3 Qtrs
Room revenue	`OccupancyRevenue`	$61.65M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$12.34M	USD	3 Qtrs
Other revenue	`OtherHotelOperatingRevenue`	$12.06M	USD	3 Qtrs
Other revenue	`OtherHotelOperatingRevenue`	$4.12M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$4.16M	USD	1 Quarter
Reimbursed expenses	`ReimbursementRevenue`	$1.90M	USD	1 Quarter
Reimbursed expenses	`ReimbursementRevenue`	$5.70M	USD	3 Qtrs
Reimbursed expenses	`ReimbursementRevenue`	$1.82M	USD	1 Quarter
Reimbursed expenses	`ReimbursementRevenue`	$5.47M	USD	3 Qtrs
Total revenue	`Revenues`	$187.76M	USD	3 Qtrs
Total revenue	`Revenues`	$200.66M	USD	3 Qtrs
Total revenue	`Revenues`	$67.63M	USD	1 Quarter
Total revenue	`Revenues`	$72.53M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$16.93M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$48.41M	USD	3 Qtrs
Operating expense	`DirectCostsOfHotels`	$46.23M	USD	3 Qtrs
Operating expense	`DirectCostsOfHotels`	$16.34M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$5.13M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$15.10M	USD	3 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$14.48M	USD	3 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$4.96M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$15.52M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$5.05M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$14.43M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$5.45M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$2.92M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$7.53M	USD	3 Qtrs
Utilities	`UtilitiesCosts`	$7.34M	USD	3 Qtrs
Utilities	`UtilitiesCosts`	$2.83M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$8.53M	USD	3 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$8.22M	USD	3 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.86M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.93M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$8.20M	USD	3 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$7.66M	USD	3 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.98M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.77M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$2.40M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$6.33M	USD	3 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$6.95M	USD	3 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$2.72M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$8.93M	USD	3 Qtrs
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$9.73M	USD	3 Qtrs
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$2.83M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$3.23M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.05M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.81M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.27M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.98M	USD	3 Qtrs
Reimbursed expenses	`OtherGeneralExpense`	$5.47M	USD	3 Qtrs
Reimbursed expenses	`OtherGeneralExpense`	$5.70M	USD	3 Qtrs
Reimbursed expenses	`OtherGeneralExpense`	$1.90M	USD	1 Quarter
Reimbursed expenses	`OtherGeneralExpense`	$1.82M	USD	1 Quarter
Depreciation expense	`Depreciation`	$24.46M	USD	3 Qtrs
Depreciation expense	`Depreciation`	$23.52M	USD	3 Qtrs
Depreciation expense	`Depreciation`	$7.65M	USD	1 Quarter
Depreciation expense	`Depreciation`	$8.01M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$155.06M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$51.23M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$53.55M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$147.73M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$45.60M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$40.04M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$16.40M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$18.99M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-937.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-780.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.89M	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-2.45M	USD	3 Qtrs
Income from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$43.16M	USD	3 Qtrs
Income from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$37.14M	USD	3 Qtrs
Income from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$18.21M	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$15.46M	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$26.00K	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	-	USD	3 Qtrs
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	-	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$697.00K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$18.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.84M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$43.16M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$15.49M	USD	1 Quarter
From continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.20	USD	1 Quarter
From continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.47	USD	3 Qtrs
From continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.17	USD	1 Quarter
From continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.40	USD	3 Qtrs
From discontinued operations (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
From discontinued operations (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$0.01	USD	3 Qtrs
From discontinued operations (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
From discontinued operations (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	3 Qtrs
Total basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.47	USD	3 Qtrs
Total basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.20	USD	1 Quarter
Total basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.41	USD	3 Qtrs
Total basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.17	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.17M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.12M	shares	3 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.31M	shares	3 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.25M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$18.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.84M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$43.16M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$15.49M	USD	1 Quarter
Depreciation	`DepreciationIncludingDiscontinuedOperations`	$24.46M	USD	3 Qtrs
Depreciation	`DepreciationIncludingDiscontinuedOperations`	$23.52M	USD	3 Qtrs
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$203.00K	USD	3 Qtrs
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$431.00K	USD	3 Qtrs
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$4.64M	USD	3 Qtrs
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$4.15M	USD	3 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$722.00K	USD	3 Qtrs
Increase in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$462.00K	USD	3 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.67M	USD	3 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.32M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$59.19M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$64.45M	USD	3 Qtrs
Capital improvements, net	`PaymentsForCapitalImprovements`	$8.26M	USD	3 Qtrs
Capital improvements, net	`PaymentsForCapitalImprovements`	$10.76M	USD	3 Qtrs
Proceeds from sale of assets, net	`ProceedsFromSaleOfPropertyHeldForSale`	-	USD	3 Qtrs
Proceeds from sale of assets, net	`ProceedsFromSaleOfPropertyHeldForSale`	$10.76M	USD	3 Qtrs
Net decrease in cash restricted for property improvements	`IncreaseDecreaseInRestrictedCash`	$-722.00K	USD	3 Qtrs
Net decrease in cash restricted for property improvements	`IncreaseDecreaseInRestrictedCash`	$-1.08M	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.18M	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$717.00K	USD	3 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$21.27M	USD	3 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$15.36M	USD	3 Qtrs
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$14.02M	USD	3 Qtrs
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$22.25M	USD	3 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$54.10M	USD	3 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$53.21M	USD	3 Qtrs
Payments on credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-786.00K	USD	3 Qtrs
Payments on credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-17.42M	USD	3 Qtrs
Proceeds from mortgage debt	`ProceedsFromSecuredNotesPayable`	$18.30M	USD	3 Qtrs
Proceeds from mortgage debt	`ProceedsFromSecuredNotesPayable`	-	USD	3 Qtrs
Payments of mortgage debt	`ProceedsFromRepaymentsOfSecuredDebt`	$-5.26M	USD	3 Qtrs
Payments of mortgage debt	`ProceedsFromRepaymentsOfSecuredDebt`	$-4.51M	USD	3 Qtrs
Payments of financing costs related to borrowings	`PaymentsOfFinancingCosts`	$414.00K	USD	3 Qtrs
Payments of financing costs related to borrowings	`PaymentsOfFinancingCosts`	$155.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-57.30M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-59.91M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-32.00K	USD	3 Qtrs
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, 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`	$32.00K	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.