10-Q Filing

APPLE REIT SIX INC CIK: 1277151 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001185185-13-000993`
Period End Date	20130331
Filing Date	20130506
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	apple6-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 42 Income Statement 48 Cash Flow Statement 42

Balance Sheet 42 line items

Line Item	Tag	Value	Unit	Period
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$216.91M	USD	Point-in-time
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$224.31M	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 $224,313 and $216,910, respectively	`RealEstateInvestmentPropertyNet`	$729.11M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $224,313 and $216,910, respectively	`RealEstateInvestmentPropertyNet`	$726.89M	USD	Point-in-time
Preferred stock, shares authorized (in Shares)	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedAssetsAndOtherEscrows`	$1.46M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedAssetsAndOtherEscrows`	$947.00K	USD	Point-in-time
Preferred stock, shares issued (in Shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in Shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Due from third party manager, net	`DueFromManagers`	$7.55M	USD	Point-in-time
Preferred stock, shares outstanding (in Shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Due from third party manager, net	`DueFromManagers`	$11.06M	USD	Point-in-time
Preferred stock, shares outstanding (in Shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other assets, net	`OtherAssets`	$2.26M	USD	Point-in-time
Other assets, net	`OtherAssets`	$2.18M	USD	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
Total Assets	`Assets`	$741.07M	USD	Point-in-time
Common stock, shares issued (in Shares)	`CommonStockSharesIssued`	91.23M	shares	Point-in-time
Total Assets	`Assets`	$740.37M	USD	Point-in-time
Common stock, shares issued (in Shares)	`CommonStockSharesIssued`	91.23M	shares	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	91.23M	shares	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	91.23M	shares	Point-in-time
Credit facility	`LineOfCreditFacilityAmountOutstanding`	$34.47M	USD	Point-in-time
Credit facility	`LineOfCreditFacilityAmountOutstanding`	$25.47M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$23.80M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$23.95M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$7.31M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$7.25M	USD	Point-in-time
Total Liabilities	`Liabilities`	$56.52M	USD	Point-in-time
Total Liabilities	`Liabilities`	$65.72M	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 91,226,580 and 91,226,580 shares, respectively	`CommonStockValue`	$899.96M	USD	Point-in-time
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding 91,226,580 and 91,226,580 shares, respectively	`CommonStockValue`	$899.96M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$225.34M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$215.43M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$674.65M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$684.55M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$740.37M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$741.07M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	$54.27M	USD	1 Quarter
Room revenue	`OccupancyRevenue`	$53.92M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$4.07M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$4.01M	USD	1 Quarter
Reimbursed expenses	`ReimbursementRevenue`	$1.89M	USD	1 Quarter
Reimbursed expenses	`ReimbursementRevenue`	$1.91M	USD	1 Quarter
Total revenue	`Revenues`	$60.17M	USD	1 Quarter
Total revenue	`Revenues`	$59.90M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$15.69M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$15.28M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$4.93M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$4.84M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.88M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.73M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$2.28M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$2.26M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.77M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.79M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.41M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.46M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$1.95M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$1.94M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$3.05M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$3.23M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.60M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.72M	USD	1 Quarter
Merger transaction costs	`OtherNonrecurringExpense`	$681.00K	USD	1 Quarter
Merger transaction costs	`OtherNonrecurringExpense`	$669.00K	USD	1 Quarter
Reimbursed expenses	`OtherGeneralExpense`	$1.91M	USD	1 Quarter
Reimbursed expenses	`OtherGeneralExpense`	$1.89M	USD	1 Quarter
Depreciation expense	`Depreciation`	$8.01M	USD	1 Quarter
Depreciation expense	`Depreciation`	$7.40M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$49.71M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$49.66M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$10.51M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$10.19M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-514.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-822.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.37M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$88.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$95.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.90M	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.10	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.11	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.23M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.08M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$9.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.90M	USD	1 Quarter
Depreciation	`Depreciation`	$8.01M	USD	1 Quarter
Depreciation	`Depreciation`	$7.40M	USD	1 Quarter
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$57.00K	USD	1 Quarter
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$148.00K	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$4.99M	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$3.51M	USD	1 Quarter
Increase (decrease) in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-302.00K	USD	1 Quarter
Increase (decrease) in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$1.10M	USD	1 Quarter
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$751.00K	USD	1 Quarter
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.14M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.09M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.29M	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$6.39M	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$3.06M	USD	1 Quarter
Net decrease (increase) in cash restricted for property improvements	`IncreaseDecreaseInRestrictedCash`	$54.00K	USD	1 Quarter
Net decrease (increase) in cash restricted for property improvements	`IncreaseDecreaseInRestrictedCash`	$-241.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.15M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.11M	USD	1 Quarter
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$5.40M	USD	1 Quarter
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	1 Quarter
Redemptions of Units	`PaymentsForRedemptionOfUnits`	-	USD	1 Quarter
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$5.05M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$18.03M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	-	USD	1 Quarter
Net proceeds from (payments on) credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$8.85M	USD	1 Quarter
Net proceeds from (payments on) credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-9.00M	USD	1 Quarter
Payments of mortgage debt	`RepaymentsOfSecuredDebt`	$185.00K	USD	1 Quarter
Payments of mortgage debt	`RepaymentsOfSecuredDebt`	$142.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.14M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.01M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-32.00K	USD	1 Quarter
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`	$32.00K	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`	$32.00K	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.