8-K Filing

APPLE REIT SEVEN, INC. CIK: 1329011 FY 2012

Filing Information

Form Type	8-K
Accession Number	`0001185185-13-001996`
Period End Date	20121231
Filing Date	20130909
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	apple7-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 72 Cash Flow Statement 80 Stockholders Equity 23

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$148.26M	USD	Point-in-time
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$179.49M	USD	Point-in-time
Preferred stock, shares authorized (in Shares)	`PreferredStockSharesAuthorized`	15.00M	shares	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 $179,491 and $148,257, respectively	`RealEstateInvestmentPropertyNet`	$802.33M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $179,491 and $148,257, respectively	`RealEstateInvestmentPropertyNet`	$846.38M	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
Hotels held for sale	`AssetsHeldForSaleAtCarryingValue`	-	USD	Point-in-time
Hotels held for sale	`AssetsHeldForSaleAtCarryingValue`	$10.30M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$7.14M	USD	Point-in-time
Preferred stock, shares outstanding (in Shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$11.35M	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 managers, net	`DueFromManagers`	$6.80M	USD	Point-in-time
Common stock, shares authorized (in Shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Due from third party managers, net	`DueFromManagers`	$6.43M	USD	Point-in-time
Other assets, net	`OtherAssets`	$5.20M	USD	Point-in-time
Common stock, shares issued (in Shares)	`CommonStockSharesIssued`	91.11M	shares	Point-in-time
Common stock, shares issued (in Shares)	`CommonStockSharesIssued`	90.94M	shares	Point-in-time
Other assets, net	`OtherAssets`	$4.72M	USD	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	91.11M	shares	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	90.94M	shares	Point-in-time
Total Assets	`Assets`	$835.50M	USD	Point-in-time
Total Assets	`Assets`	$865.14M	USD	Point-in-time
Credit facilities	`LineOfCreditFacilityAmountOutstanding`	$64.70M	USD	Point-in-time
Credit facilities	`LineOfCreditFacilityAmountOutstanding`	$35.60M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$162.52M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$110.15M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$12.92M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$12.31M	USD	Point-in-time
Total Liabilities	`Liabilities`	$211.04M	USD	Point-in-time
Total Liabilities	`Liabilities`	$187.16M	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 90,941,959 and 91,109,651 shares, respectively	`CommonStockValue`	$900.55M	USD	Point-in-time
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding 90,941,959 and 91,109,651 shares, respectively	`CommonStockValue`	$898.82M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$222.60M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$274.38M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$624.46M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$677.98M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$733.30M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$792.26M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$865.14M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$835.50M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	$176.80M	USD	Annual
Room revenue	`OccupancyRevenue`	$184.18M	USD	Annual
Room revenue	`OccupancyRevenue`	$191.44M	USD	Annual
Other revenue	`OtherHotelOperatingRevenue`	$19.35M	USD	Annual
Other revenue	`OtherHotelOperatingRevenue`	$20.20M	USD	Annual
Other revenue	`OtherHotelOperatingRevenue`	$20.61M	USD	Annual
Total revenue	`Revenues`	$212.05M	USD	Annual
Total revenue	`Revenues`	$196.15M	USD	Annual
Total revenue	`Revenues`	$204.38M	USD	Annual
Operating expense	`DirectCostsOfHotels`	$52.26M	USD	Annual
Operating expense	`DirectCostsOfHotels`	$55.00M	USD	Annual
Operating expense	`DirectCostsOfHotels`	$56.58M	USD	Annual
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$15.53M	USD	Annual
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$15.62M	USD	Annual
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$14.69M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$16.64M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$15.16M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$15.80M	USD	Annual
Utilities	`UtilitiesCosts`	$8.54M	USD	Annual
Utilities	`UtilitiesCosts`	$8.72M	USD	Annual
Utilities	`UtilitiesCosts`	$8.55M	USD	Annual
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$8.95M	USD	Annual
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$9.49M	USD	Annual
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$8.95M	USD	Annual
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$8.44M	USD	Annual
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$8.82M	USD	Annual
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$8.01M	USD	Annual
Management fees	`OwnedPropertyManagementCosts`	$7.09M	USD	Annual
Management fees	`OwnedPropertyManagementCosts`	$6.79M	USD	Annual
Management fees	`OwnedPropertyManagementCosts`	$6.51M	USD	Annual
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$12.95M	USD	Annual
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$12.00M	USD	Annual
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$12.32M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$5.18M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$7.19M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$4.99M	USD	Annual
Depreciation expense	`Depreciation`	$33.92M	USD	Annual
Depreciation expense	`Depreciation`	$32.60M	USD	Annual
Depreciation expense	`Depreciation`	$33.53M	USD	Annual
Gain from settlement of contingency	`OtherNonrecurringIncome`	-	USD	Annual
Gain from settlement of contingency	`OtherNonrecurringIncome`	-	USD	Annual
Gain from settlement of contingency	`OtherNonrecurringIncome`	$3.10M	USD	Annual
Total expenses	`OperatingExpenses`	$176.87M	USD	Annual
Total expenses	`OperatingExpenses`	$170.07M	USD	Annual
Total expenses	`OperatingExpenses`	$160.79M	USD	Annual
Operating income	`OperatingIncomeLoss`	$35.36M	USD	Annual
Operating income	`OperatingIncomeLoss`	$35.18M	USD	Annual
Operating income	`OperatingIncomeLoss`	$34.31M	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-10.57M	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-9.82M	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-7.64M	USD	Annual
Income from continuing operations	`IncomeLossFromContinuingOperations`	$24.61M	USD	Annual
Income from continuing operations	`IncomeLossFromContinuingOperations`	$27.72M	USD	Annual
Income from continuing operations	`IncomeLossFromContinuingOperations`	$24.48M	USD	Annual
Income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$597.00K	USD	Annual
Income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$528.00K	USD	Annual
Income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-6.42M	USD	Annual
Net income	`NetIncomeLoss`	$25.01M	USD	Annual
Net income	`NetIncomeLoss`	$28.32M	USD	Annual
Net income	`NetIncomeLoss`	$18.19M	USD	Annual
From continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.30	USD	Annual
From continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.27	USD	Annual
From continuing operations (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.27	USD	Annual
From discontinued operations (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	Annual
From discontinued operations (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-0.07	USD	Annual
From discontinued operations (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$0.01	USD	Annual
Total basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.20	USD	Annual
Total basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.31	USD	Annual
Total basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.27	USD	Annual
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	92.63M	shares	Annual
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	90.89M	shares	Annual
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.44M	shares	Annual

Cash Flow Statement 80 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$25.01M	USD	Annual
Net income	`NetIncomeLoss`	$28.32M	USD	Annual
Net income	`NetIncomeLoss`	$18.19M	USD	Annual
Depreciation, including discontinued operations	`DepreciationIncludingDiscontinuedOperations`	$34.56M	USD	Annual
Depreciation, including discontinued operations	`DepreciationIncludingDiscontinuedOperations`	$33.17M	USD	Annual
Depreciation, including discontinued operations	`DepreciationIncludingDiscontinuedOperations`	$34.16M	USD	Annual
Loss on impairment of hotels held for sale	`ImpairmentOfRealEstate`	-	USD	Annual
Loss on impairment of hotels held for sale	`ImpairmentOfRealEstate`	-	USD	Annual
Loss on impairment of hotels held for sale	`ImpairmentOfRealEstate`	$6.64M	USD	Annual
Gain from settlement of contingency	`OtherNonrecurringIncome`	-	USD	Annual
Gain from settlement of contingency	`OtherNonrecurringIncome`	-	USD	Annual
Gain from settlement of contingency	`OtherNonrecurringIncome`	$3.10M	USD	Annual
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`OtherNoncashIncomeExpense`	$256.00K	USD	Annual
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`OtherNoncashIncomeExpense`	$665.00K	USD	Annual
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`OtherNoncashIncomeExpense`	$491.00K	USD	Annual
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$372.00K	USD	Annual
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$190.00K	USD	Annual
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$597.00K	USD	Annual
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-145.00K	USD	Annual
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.00K	USD	Annual
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$33.00K	USD	Annual
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.39M	USD	Annual
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$967.00K	USD	Annual
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.08M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$60.81M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$59.91M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$60.03M	USD	Annual
Capital improvements	`PaymentsForCapitalImprovements`	$7.67M	USD	Annual
Capital improvements	`PaymentsForCapitalImprovements`	$4.23M	USD	Annual
Capital improvements	`PaymentsForCapitalImprovements`	$8.24M	USD	Annual
Additions to ownership interest in non-hotel properties	`PaymentsForProceedsFromOtherInvestingActivities`	-	USD	Annual
Additions to ownership interest in non-hotel properties	`PaymentsForProceedsFromOtherInvestingActivities`	$101.00K	USD	Annual
Additions to ownership interest in non-hotel properties	`PaymentsForProceedsFromOtherInvestingActivities`	$125.00K	USD	Annual
Net decrease (increase) in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$-890.00K	USD	Annual
Net decrease (increase) in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$-2.05M	USD	Annual
Net decrease (increase) in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$3.90M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.88M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.31M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.13M	USD	Annual
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$16.00M	USD	Annual
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$24.75M	USD	Annual
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$21.99M	USD	Annual
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$17.83M	USD	Annual
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$40.68M	USD	Annual
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$32.03M	USD	Annual
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$69.97M	USD	Annual
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$71.34M	USD	Annual
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$70.40M	USD	Annual
Net proceeds from (payments on) extinguished credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$33.39M	USD	Annual
Net proceeds from (payments on) extinguished credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-64.70M	USD	Annual
Net proceeds from (payments on) extinguished credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$19.80M	USD	Annual
Net proceeds from existing credit facility	`ProceedsFromLinesOfCredit`	-	USD	Annual
Net proceeds from existing credit facility	`ProceedsFromLinesOfCredit`	$35.60M	USD	Annual
Net proceeds from existing credit facility	`ProceedsFromLinesOfCredit`	-	USD	Annual
Proceeds from mortgage debt	`ProceedsFromSecuredNotesPayable`	$10.50M	USD	Annual
Proceeds from mortgage debt	`ProceedsFromSecuredNotesPayable`	$63.00M	USD	Annual
Proceeds from mortgage debt	`ProceedsFromSecuredNotesPayable`	-	USD	Annual
Payments on mortgage debt	`RepaymentsOfSecuredDebt`	$2.87M	USD	Annual
Payments on mortgage debt	`RepaymentsOfSecuredDebt`	$10.02M	USD	Annual
Payments on mortgage debt	`RepaymentsOfSecuredDebt`	$2.56M	USD	Annual
Deferred financing costs	`PaymentsOfFinancingCosts`	$135.00K	USD	Annual
Deferred financing costs	`PaymentsOfFinancingCosts`	$754.00K	USD	Annual
Deferred financing costs	`PaymentsOfFinancingCosts`	$1.16M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-57.60M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-48.67M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-53.15M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	Annual
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`	-	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`	-	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Interest paid	`InterestPaid`	$7.98M	USD	Annual
Interest paid	`InterestPaid`	$9.96M	USD	Annual
Interest paid	`InterestPaid`	$10.88M	USD	Annual

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Cash distributions paid to shareholders (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.77	USD	Annual
Balance	`StockholdersEquity`	$624.46M	USD	Point-in-time
Balance	`StockholdersEquity`	$677.98M	USD	Point-in-time
Balance	`StockholdersEquity`	$733.30M	USD	Point-in-time
Cash distributions paid to shareholders (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.77	USD	Annual
Cash distributions paid to shareholders (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.77	USD	Annual
Balance	`StockholdersEquity`	$792.26M	USD	Point-in-time
Net proceeds from the sale of common shares	`StockIssuedDuringPeriodValueNewIssues`	$24.75M	USD	Annual
Net proceeds from the sale of common shares	`StockIssuedDuringPeriodValueNewIssues`	$22.10M	USD	Annual
Net proceeds from the sale of common shares	`StockIssuedDuringPeriodValueNewIssues`	$16.10M	USD	Annual
Common shares redeemed	`StockRedeemedOrCalledDuringPeriodValue`	$-32.03M	USD	Annual
Common shares redeemed	`StockRedeemedOrCalledDuringPeriodValue`	$-17.83M	USD	Annual
Common shares redeemed	`StockRedeemedOrCalledDuringPeriodValue`	$-40.68M	USD	Annual
Net income	`NetIncomeLoss`	$25.01M	USD	Annual
Net income	`NetIncomeLoss`	$28.32M	USD	Annual
Net income	`NetIncomeLoss`	$18.19M	USD	Annual
Cash distributions declared and paid to shareholders	`DividendsCommonStockCash`	$-70.40M	USD	Annual
Cash distributions declared and paid to shareholders	`DividendsCommonStockCash`	$-71.34M	USD	Annual
Cash distributions declared and paid to shareholders	`DividendsCommonStockCash`	$-69.97M	USD	Annual
Balance	`StockholdersEquity`	$624.46M	USD	Point-in-time
Balance	`StockholdersEquity`	$677.98M	USD	Point-in-time
Balance	`StockholdersEquity`	$733.30M	USD	Point-in-time
Balance	`StockholdersEquity`	$792.26M	USD	Point-in-time

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