10-Q Filing

APPLE REIT TEN, INC. CIK: 1498864 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001185185-13-001005`
Period End Date	20130331
Filing Date	20130507
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	apple10-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 44 Cash Flow Statement 48

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`	$26.29M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $26,291 and $21,804, respectively	`RealEstateInvestmentPropertyNet`	$506.69M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Investment in real estate, net of accumulated depreciation of $26,291 and $21,804, respectively	`RealEstateInvestmentPropertyNet`	$560.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.20M	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`	$109.94M	USD	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
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$7.14M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$9.40M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Due from third party managers, net	`DueFromManagers`	$2.48M	USD	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
Due from third party managers, net	`DueFromManagers`	$5.59M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	64.98M	shares	Point-in-time
Other assets, net	`OtherAssets`	$3.02M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	68.11M	shares	Point-in-time
Other assets, net	`OtherAssets`	$2.69M	USD	Point-in-time
Total Assets	`Assets`	$686.10M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	68.11M	shares	Point-in-time
Total Assets	`Assets`	$667.78M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	64.98M	shares	Point-in-time
Notes payable	`SecuredDebt`	$80.77M	USD	Point-in-time
Notes payable	`SecuredDebt`	$81.19M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$5.82M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$7.07M	USD	Point-in-time
Total Liabilities	`Liabilities`	$88.26M	USD	Point-in-time
Total Liabilities	`Liabilities`	$86.59M	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 68,111,893 and 64,983,511 shares, respectively	`CommonStockValue`	$636.19M	USD	Point-in-time
Common stock, no par value, authorized 400,000,000 shares; issued and outstanding 68,111,893 and 64,983,511 shares, respectively	`CommonStockValue`	$666.90M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$-67.45M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$-56.71M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$599.50M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$579.52M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$667.78M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$686.10M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	$22.54M	USD	1 Quarter
Room revenue	`OccupancyRevenue`	$27.64M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$2.29M	USD	1 Quarter
Other revenue	`OtherHotelOperatingRevenue`	$3.23M	USD	1 Quarter
Total revenue	`Revenues`	$24.82M	USD	1 Quarter
Total revenue	`Revenues`	$30.87M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$6.34M	USD	1 Quarter
Operating expense	`DirectCostsOfHotels`	$8.06M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$2.63M	USD	1 Quarter
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$2.07M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$2.29M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$2.72M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$1.13M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$973.00K	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$1.07M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$848.00K	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$1.01M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$1.25M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$811.00K	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$1.08M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$2.15M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$1.94M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.02M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.09M	USD	1 Quarter
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$1.37M	USD	1 Quarter
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$644.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$3.69M	USD	1 Quarter
Depreciation expense	`Depreciation`	$4.49M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$26.94M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$21.70M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.12M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.92M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-956.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-1.10M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.02M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.97M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$50.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$78.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.97M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.89M	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.04	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.04	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	45.59M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	66.29M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.97M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.89M	USD	1 Quarter
Depreciation	`Depreciation`	$3.69M	USD	1 Quarter
Depreciation	`Depreciation`	$4.49M	USD	1 Quarter
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$30.00K	USD	1 Quarter
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$28.00K	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$3.50M	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$3.10M	USD	1 Quarter
Decrease (increase) in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-292.00K	USD	1 Quarter
Decrease (increase) in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$134.00K	USD	1 Quarter
Decrease in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-772.00K	USD	1 Quarter
Decrease in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-144.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.91M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.83M	USD	1 Quarter
Cash paid for the acquisition of hotel properties	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$13.92M	USD	1 Quarter
Cash paid for the acquisition of hotel properties	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$54.92M	USD	1 Quarter
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	$303.00K	USD	1 Quarter
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	-	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$2.58M	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$3.78M	USD	1 Quarter
Decrease (increase) in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$214.00K	USD	1 Quarter
Decrease (increase) in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$-1.89M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-16.71M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-57.12M	USD	1 Quarter
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$55.74M	USD	1 Quarter
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$31.94M	USD	1 Quarter
Redemptions of Units	`PaymentsForRedemptionOfUnits`	-	USD	1 Quarter
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$1.23M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$9.34M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$13.62M	USD	1 Quarter
Payments of notes payable	`RepaymentsOfSecuredDebt`	$343.00K	USD	1 Quarter
Payments of notes payable	`RepaymentsOfSecuredDebt`	$394.00K	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	$132.00K	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$45.93M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$16.70M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$31.12M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-36.59M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$38.20M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$109.94M	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`	$38.20M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$109.94M	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
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	-	USD	1 Quarter
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$13.07M	USD	1 Quarter

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