10-K Filing

APPLE REIT TEN, INC. CIK: 1498864 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001185185-13-000432`
Period End Date	20121231
Filing Date	20130306
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	apple10-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 60 Cash Flow Statement 81 Stockholders Equity 20

Balance Sheet 44 line items

Line Item	Tag	Value	Unit	Period
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$21.80M	USD	Point-in-time
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$6.01M	USD	Point-in-time
Preferred stock, shares authorized (in Shares)	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Investment in real estate, net of accumulated depreciation of $21,804 and $6,009, respectively	`RealEstateInvestmentPropertyNet`	$452.20M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $21,804 and $6,009, respectively	`RealEstateInvestmentPropertyNet`	$506.69M	USD	Point-in-time
Preferred stock, shares authorized (in Shares)	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Preferred stock, shares issued (in Shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$48.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$124.00K	USD	Point-in-time
Preferred stock, shares issued (in Shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$146.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.08M	USD	Point-in-time
Preferred stock, shares outstanding (in Shares)	`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`	$2.48M	USD	Point-in-time
Preferred stock, shares outstanding (in Shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, shares authorized (in Shares)	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Other assets, net	`OtherAssets`	$10.70M	USD	Point-in-time
Other assets, net	`OtherAssets`	$12.09M	USD	Point-in-time
Common stock, shares authorized (in Shares)	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Total Assets	`Assets`	$471.22M	USD	Point-in-time
Total Assets	`Assets`	$667.78M	USD	Point-in-time
Common stock, shares issued (in Shares)	`CommonStockSharesIssued`	43.50M	shares	Point-in-time
Common stock, shares issued (in Shares)	`CommonStockSharesIssued`	64.98M	shares	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	43.50M	shares	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	64.98M	shares	Point-in-time
Notes payable	`SecuredDebt`	$69.64M	USD	Point-in-time
Notes payable	`SecuredDebt`	$81.19M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$7.07M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$5.67M	USD	Point-in-time
Total Liabilities	`Liabilities`	$75.31M	USD	Point-in-time
Total Liabilities	`Liabilities`	$88.26M	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 64,983,511 and 43,502,273 shares, respectively	`CommonStockValue`	$636.19M	USD	Point-in-time
Common stock, no par value, authorized 400,000,000 shares; issued and outstanding 64,983,511 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`	$-56.71M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$48.00K	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$17.00K	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$579.52M	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`	$667.78M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	-	USD	2 Qtrs
Room revenue	`OccupancyRevenue`	$37.91M	USD	Annual
Room revenue	`OccupancyRevenue`	$106.76M	USD	Annual
Other revenue	`OtherHotelOperatingRevenue`	-	USD	2 Qtrs
Other revenue	`OtherHotelOperatingRevenue`	$4.18M	USD	Annual
Other revenue	`OtherHotelOperatingRevenue`	$10.91M	USD	Annual
Total revenue	`Revenues`	$117.67M	USD	Annual
Total revenue	`Revenues`	-	USD	2 Qtrs
Total revenue	`Revenues`	$42.09M	USD	Annual
Operating expense	`DirectCostsOfHotels`	$10.59M	USD	Annual
Operating expense	`DirectCostsOfHotels`	$29.44M	USD	Annual
Operating expense	`DirectCostsOfHotels`	-	USD	2 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$3.48M	USD	Annual
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	-	USD	2 Qtrs
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$9.33M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$3.57M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	-	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$10.46M	USD	Annual
Utilities	`UtilitiesCosts`	$1.59M	USD	Annual
Utilities	`UtilitiesCosts`	-	USD	2 Qtrs
Utilities	`UtilitiesCosts`	$4.40M	USD	Annual
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	-	USD	2 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$1.41M	USD	Annual
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$3.97M	USD	Annual
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$4.69M	USD	Annual
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$1.84M	USD	Annual
Franchise fees	`DirectOperatingCostRoyaltyExpense`	-	USD	2 Qtrs
Management fees	`OwnedPropertyManagementCosts`	-	USD	2 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$1.26M	USD	Annual
Management fees	`OwnedPropertyManagementCosts`	$3.65M	USD	Annual
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$8.37M	USD	Annual
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	-	USD	2 Qtrs
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$2.54M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$4.41M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.06M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$28.00K	USD	2 Qtrs
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$1.58M	USD	Annual
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$11.27M	USD	Annual
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	-	USD	2 Qtrs
Depreciation expense	`Depreciation`	$15.79M	USD	Annual
Depreciation expense	`Depreciation`	$6.01M	USD	Annual
Depreciation expense	`Depreciation`	-	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$46.62M	USD	Annual
Total expenses	`OperatingExpenses`	$96.11M	USD	Annual
Total expenses	`OperatingExpenses`	$28.00K	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-4.53M	USD	Annual
Operating income (loss)	`OperatingIncomeLoss`	$21.56M	USD	Annual
Operating income (loss)	`OperatingIncomeLoss`	$-28.00K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-4.48M	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-607.00K	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-3.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-31.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-5.13M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$17.08M	USD	Annual
Basic and diluted net income (loss) per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.18	USD	Annual
Basic and diluted net income (loss) per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.31	USD	Annual
Basic and diluted net income (loss) per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-3.08K	USD	2 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	0.00	shares	2 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	54.89M	shares	Annual
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	29.33M	shares	Annual

Cash Flow Statement 81 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-31.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-5.13M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$17.08M	USD	Annual
Depreciation	`Depreciation`	$15.79M	USD	Annual
Depreciation	`Depreciation`	$6.01M	USD	Annual
Depreciation	`Depreciation`	-	USD	2 Qtrs
Amortization of deferred financing costs, fair value adjustments and other noncash expenses	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$52.00K	USD	Annual
Amortization of deferred financing costs, fair value adjustments and other noncash expenses	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	-	USD	2 Qtrs
Amortization of deferred financing costs, fair value adjustments and other noncash expenses	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$171.00K	USD	Annual
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	-	USD	2 Qtrs
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$1.18M	USD	Annual
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$1.43M	USD	Annual
Decrease (increase) in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-556.00K	USD	Annual
Decrease (increase) in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$45.00K	USD	Annual
Decrease (increase) in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	2 Qtrs
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$711.00K	USD	Annual
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.36M	USD	Annual
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$25.00K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$33.13M	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$821.00K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.00K	USD	2 Qtrs
Cash paid for the acquisition of hotel properties	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$391.84M	USD	Annual
Cash paid for the acquisition of hotel properties	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	2 Qtrs
Cash paid for the acquisition of hotel properties	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$50.94M	USD	Annual
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	$433.00K	USD	Annual
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	$22.00K	USD	Annual
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	-	USD	2 Qtrs
Capital improvements	`PaymentsForCapitalImprovements`	$1.30M	USD	Annual
Capital improvements	`PaymentsForCapitalImprovements`	$8.16M	USD	Annual
Capital improvements	`PaymentsForCapitalImprovements`	-	USD	2 Qtrs
Decrease (increase) in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$74.00K	USD	Annual
Decrease (increase) in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	-	USD	2 Qtrs
Decrease (increase) in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$-514.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-58.61M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-393.64M	USD	Annual
Net proceeds (disbursements) related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$226.56M	USD	Annual
Net proceeds (disbursements) related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$-318.00K	USD	2 Qtrs
Net proceeds (disbursements) related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$424.95M	USD	Annual
Redemptions of Units	`PaymentsForRedemptionOfUnits`	-	USD	Annual
Redemptions of Units	`PaymentsForRedemptionOfUnits`	-	USD	2 Qtrs
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$15.04M	USD	Annual
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$45.03M	USD	Annual
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	-	USD	2 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$23.59M	USD	Annual
Payments of notes payable	`RepaymentsOfSecuredDebt`	$273.00K	USD	Annual
Payments of notes payable	`RepaymentsOfSecuredDebt`	-	USD	2 Qtrs
Payments of notes payable	`RepaymentsOfSecuredDebt`	$1.42M	USD	Annual
Deferred financing costs	`PaymentsOfFinancingCosts`	$906.00K	USD	Annual
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	2 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$132.00K	USD	Annual
Proceeds from (payments on) line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-400.00K	USD	Annual
Proceeds from (payments on) line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$400.00K	USD	2 Qtrs
Proceeds from (payments on) line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$399.77M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$164.92M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$82.00K	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.96M	USD	Annual
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$76.00K	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$139.45M	USD	Annual
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$48.00K	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`	$146.53M	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`	$48.00K	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`	$146.53M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.08M	USD	Point-in-time
Interest paid	`InterestPaid`	$3.00K	USD	2 Qtrs
Interest paid	`InterestPaid`	$713.00K	USD	Annual
Interest paid	`InterestPaid`	$4.88M	USD	Annual
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$69.41M	USD	Annual
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$82.50M	USD	10 Qtrs
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$13.07M	USD	Annual
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	-	USD	2 Qtrs
Other assets assumed in acquisitions	`NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1`	$20.00K	USD	Annual
Other assets assumed in acquisitions	`NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1`	-	USD	2 Qtrs
Other assets assumed in acquisitions	`NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1`	$4.07M	USD	Annual
Other liabilities assumed in acquisitions	`NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1`	-	USD	2 Qtrs
Other liabilities assumed in acquisitions	`NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1`	$4.14M	USD	Annual
Other liabilities assumed in acquisitions	`NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1`	$137.00K	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$48.00K	USD	Point-in-time
Balance	`StockholdersEquity`	$17.00K	USD	Point-in-time
Cash distribution paid to shareholders (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.76	USD	Annual
Balance	`StockholdersEquity`	$579.52M	USD	Point-in-time
Cash distribution paid to shareholders (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.82	USD	Annual
Balance	`StockholdersEquity`	$395.92M	USD	Point-in-time
Net proceeds from the sale of common shares	`StockIssuedDuringPeriodValueNewIssues`	$424.57M	USD	Annual
Net proceeds from the sale of common shares	`StockIssuedDuringPeriodValueNewIssues`	$226.56M	USD	Annual
Common shares redeemed	`StockRedeemedOrCalledDuringPeriodValue`	$15.04M	USD	Annual
Stock options granted	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$58.00K	USD	Annual
Stock options granted	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$51.00K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-31.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-5.13M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$17.08M	USD	Annual
Cash distributions declared and paid to shareholders	`DividendsCommonStockCash`	$23.59M	USD	Annual
Cash distributions declared and paid to shareholders	`DividendsCommonStockCash`	$45.03M	USD	Annual
Balance	`StockholdersEquity`	$48.00K	USD	Point-in-time
Balance	`StockholdersEquity`	$17.00K	USD	Point-in-time
Balance	`StockholdersEquity`	$579.52M	USD	Point-in-time
Balance	`StockholdersEquity`	$395.92M	USD	Point-in-time

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