10-Q Filing

APPLE REIT TEN, INC. CIK: 1498864 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001185185-12-002398`
Period End Date	20120930
Filing Date	20121106
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	apple10-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 42 Income Statement 80 Cash Flow Statement 55

Balance Sheet 42 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`	$17.59M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Investment in real estate, net of accumulated depreciation of $17,591 and $6,009, respectively	`RealEstateInvestmentPropertyNet`	$507.80M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Investment in real estate, net of accumulated depreciation of $17,591 and $6,009, respectively	`RealEstateInvestmentPropertyNet`	$452.20M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$124.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$125.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$77.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.08M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Due from third party managers, net	`DueFromManagers`	$1.24M	USD	Point-in-time
Due from third party managers, net	`DueFromManagers`	$4.65M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Other assets, net	`OtherAssets`	$12.46M	USD	Point-in-time
Other assets, net	`OtherAssets`	$10.70M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	43.50M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	62.18M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$471.22M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$649.92M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	62.18M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	43.50M	shares	Point-in-time
Notes payable	`SecuredDebt`	$69.64M	USD	Point-in-time
Notes payable	`SecuredDebt`	$81.58M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$5.67M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$7.02M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$75.31M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$88.60M	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 62,180,186 and 43,502,273 shares, respectively	`CommonStockValue`	$608.64M	USD	Point-in-time
Common stock, no par value, authorized 400,000,000 shares; issued and outstanding 62,180,186 and 43,502,273 shares, respectively	`CommonStockValue`	$424.63M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$-28.76M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$-47.38M	USD	Point-in-time
TOTAL SHAREHOLDERS' EQUITY	`StockholdersEquity`	$561.32M	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`	$649.92M	USD	Point-in-time

Income Statement 80 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	$13.25M	USD	1 Quarter
Room revenue	`OccupancyRevenue`	$19.96M	USD	3 Qtrs
Room revenue	`OccupancyRevenue`	$80.42M	USD	3 Qtrs
Room revenue	`OccupancyRevenue`	$29.63M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$1.95M	USD	3 Qtrs
Other revenue	`OtherHotelOperatingRevenue`	$1.14M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$8.00M	USD	3 Qtrs
Other revenue	`OtherHotelOperatingRevenue`	$2.85M	USD	1 Quarter
Total revenue	`Revenues`	$32.48M	USD	1 Quarter
Total revenue	`Revenues`	$14.39M	USD	1 Quarter
Total revenue	`Revenues`	$88.43M	USD	3 Qtrs
Total revenue	`Revenues`	$21.91M	USD	3 Qtrs
Operating expense	`DirectCostsOfHotels`	$3.32M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$21.76M	USD	3 Qtrs
Operating expense	`DirectCostsOfHotels`	$5.06M	USD	3 Qtrs
Operating expense	`DirectCostsOfHotels`	$8.07M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$6.89M	USD	3 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$1.61M	USD	3 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$2.49M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$1.10M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.65M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$1.09M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$2.83M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$7.72M	USD	3 Qtrs
Utilities	`UtilitiesCosts`	$813.00K	USD	3 Qtrs
Utilities	`UtilitiesCosts`	$554.00K	USD	1 Quarter
Utilities	`UtilitiesCosts`	$1.32M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$3.33M	USD	3 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$613.00K	USD	3 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.90M	USD	3 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$416.00K	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$1.04M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$640.00K	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$1.28M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$3.53M	USD	3 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$978.00K	USD	3 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$2.74M	USD	3 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$454.00K	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$692.00K	USD	3 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$1.02M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$6.11M	USD	3 Qtrs
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$1.93M	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$776.00K	USD	1 Quarter
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$1.24M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.15M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$942.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.47M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.32M	USD	3 Qtrs
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$1.54M	USD	3 Qtrs
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$8.15M	USD	3 Qtrs
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$607.00K	USD	1 Quarter
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$3.60M	USD	1 Quarter
Depreciation expense	`Depreciation`	$2.96M	USD	3 Qtrs
Depreciation expense	`Depreciation`	$4.09M	USD	1 Quarter
Depreciation expense	`Depreciation`	$1.86M	USD	1 Quarter
Depreciation expense	`Depreciation`	$11.58M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$25.82M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$26.09M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$71.57M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$14.75M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-4.18M	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-367.00K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$6.66M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$16.86M	USD	3 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$141.00K	USD	3 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$-106.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-3.46M	USD	3 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$-1.14M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-473.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$13.39M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$5.52M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-4.04M	USD	3 Qtrs
Basic and diluted net income (loss) per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	3 Qtrs
Basic and diluted net income (loss) per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.26	USD	3 Qtrs
Basic and diluted net income (loss) per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted net income (loss) per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.09	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	58.70M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	37.01M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.43M	shares	3 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	52.07M	shares	3 Qtrs

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-473.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$13.39M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$5.52M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-4.04M	USD	3 Qtrs
Depreciation	`Depreciation`	$2.96M	USD	3 Qtrs
Depreciation	`Depreciation`	$4.09M	USD	1 Quarter
Depreciation	`Depreciation`	$1.86M	USD	1 Quarter
Depreciation	`Depreciation`	$11.58M	USD	3 Qtrs
Amortization of deferred financing costs, fair value adjustments and other noncash expenses	`AmortizationOfDeferredFinancingCostsFairValueAdjustments`	$140.00K	USD	3 Qtrs
Amortization of deferred financing costs, fair value adjustments and other noncash expenses	`AmortizationOfDeferredFinancingCostsFairValueAdjustments`	$40.00K	USD	3 Qtrs
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$2.71M	USD	3 Qtrs
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$3.34M	USD	3 Qtrs
(Increase) decrease in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-156.00K	USD	3 Qtrs
(Increase) decrease in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$91.00K	USD	3 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.11M	USD	3 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.14M	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$23.04M	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.70M	USD	3 Qtrs
Cash paid for the acquisition of hotel properties	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$285.00M	USD	3 Qtrs
Cash paid for the acquisition of hotel properties	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$51.23M	USD	3 Qtrs
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	$2.31M	USD	3 Qtrs
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	$72.00K	USD	3 Qtrs
Capital improvements	`PaymentsForCapitalImprovements`	$95.00K	USD	3 Qtrs
Capital improvements	`PaymentsForCapitalImprovements`	$5.24M	USD	3 Qtrs
(Increase) decrease in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$-648.00K	USD	3 Qtrs
(Increase) decrease in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$12.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-55.89M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-287.42M	USD	3 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$384.07M	USD	3 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$198.53M	USD	3 Qtrs
Redemptions of Units	`PaymentsForRedemptionOfUnits`	-	USD	3 Qtrs
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$14.55M	USD	3 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$15.20M	USD	3 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$32.01M	USD	3 Qtrs
Payments of notes payable	`ProceedsFromRepaymentsOfSecuredDebt`	$-90.00K	USD	3 Qtrs
Payments of notes payable	`ProceedsFromRepaymentsOfSecuredDebt`	$-1.05M	USD	3 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$498.00K	USD	3 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$132.00K	USD	3 Qtrs
Payments on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-400.00K	USD	3 Qtrs
Payments on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$150.79M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$367.88M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$77.75M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$117.94M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$124.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$125.02M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$77.88M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.08M	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`	$125.02M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$77.88M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.08M	USD	Point-in-time
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$69.40M	USD	Annual
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$13.07M	USD	3 Qtrs
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$39.73M	USD	3 Qtrs

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