10-Q Filing

APPLE REIT TEN, INC. CIK: 1498864 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001185185-15-001130`
Period End Date	20150331
Filing Date	20150507
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	apple10-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 46 Cash Flow Statement 50

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$72.11M	USD	Point-in-time
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$80.50M	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 $80,495 and $72,106, respectively	`RealEstateInvestmentPropertyNet`	$839.03M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $80,495 and $72,106, respectively	`RealEstateInvestmentPropertyNet`	$908.84M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$46.34M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$11.92M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$11.66M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Due from third party managers, net	`DueFromManagers`	$5.57M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Due from third party managers, net	`DueFromManagers`	$12.10M	USD	Point-in-time
Other assets, net	`OtherAssets`	$6.18M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.04M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	90.61M	shares	Point-in-time
Other assets, net	`OtherAssets`	$5.61M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	91.04M	shares	Point-in-time
Total Assets	`Assets`	$909.04M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	90.61M	shares	Point-in-time
Total Assets	`Assets`	$938.21M	USD	Point-in-time
Credit facility	`LineOfCredit`	-	USD	Point-in-time
Credit facility	`LineOfCredit`	$45.70M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$118.97M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$119.71M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$12.16M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$10.16M	USD	Point-in-time
Total Liabilities	`Liabilities`	$174.82M	USD	Point-in-time
Total Liabilities	`Liabilities`	$131.87M	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 90,611,755 and 91,037,588 shares, respectively	`CommonStockValue`	$887.41M	USD	Point-in-time
Common stock, no par value, authorized 400,000,000 shares; issued and outstanding 90,611,755 and 91,037,588 shares, respectively	`CommonStockValue`	$891.80M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$124.07M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$114.68M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$763.39M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$777.17M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$909.04M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$938.21M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Room	`OccupancyRevenue`	$55.74M	USD	1 Quarter
Room	`OccupancyRevenue`	$46.28M	USD	1 Quarter
Other	`OtherHotelOperatingRevenue`	$4.66M	USD	1 Quarter
Other	`OtherHotelOperatingRevenue`	$4.19M	USD	1 Quarter
Total revenue	`Revenues`	$60.40M	USD	1 Quarter
Total revenue	`Revenues`	$50.46M	USD	1 Quarter
Operating	`DirectCostsOfHotels`	$14.63M	USD	1 Quarter
Operating	`DirectCostsOfHotels`	$12.56M	USD	1 Quarter
Hotel administrative	`CostOfOtherPropertyOperatingExpense`	$5.01M	USD	1 Quarter
Hotel administrative	`CostOfOtherPropertyOperatingExpense`	$4.15M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.33M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.95M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$2.10M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$1.99M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.15M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.11M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.68M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.25M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$2.31M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$1.76M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$3.33M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$4.03M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.43M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.49M	USD	1 Quarter
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$1.58M	USD	1 Quarter
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$1.01M	USD	1 Quarter
Depreciation	`Depreciation`	$8.39M	USD	1 Quarter
Depreciation	`Depreciation`	$6.97M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$41.89M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$49.32M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$8.57M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$11.07M	USD	1 Quarter
Investment income	`InvestmentIncomeInterest`	$15.00K	USD	1 Quarter
Investment income	`InvestmentIncomeInterest`	$3.45M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.33M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.70M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.70M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.39M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$59.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$287.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.33M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.41M	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.12	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.10	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	90.70M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	79.93M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$9.33M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.41M	USD	1 Quarter
Depreciation	`Depreciation`	$8.39M	USD	1 Quarter
Depreciation	`Depreciation`	$6.97M	USD	1 Quarter
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-55.00K	USD	1 Quarter
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-47.00K	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$5.46M	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$6.38M	USD	1 Quarter
Decrease in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-751.00K	USD	1 Quarter
Decrease in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-1.89M	USD	1 Quarter
Decrease in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.14M	USD	1 Quarter
Decrease in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-312.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.54M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.01M	USD	1 Quarter
Cash paid for the acquisition of hotel properties	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$41.37M	USD	1 Quarter
Cash paid for the acquisition of hotel properties	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$73.22M	USD	1 Quarter
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	-	USD	1 Quarter
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	$100.00K	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$6.36M	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$2.78M	USD	1 Quarter
Decrease (increase) in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$-351.00K	USD	1 Quarter
Decrease (increase) in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$393.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-44.54M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-79.33M	USD	1 Quarter
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$32.93M	USD	1 Quarter
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	1 Quarter
Redemptions of Units	`PaymentsForRepurchaseOfEquity`	$2.51M	USD	1 Quarter
Redemptions of Units	`PaymentsForRepurchaseOfEquity`	$4.39M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$18.72M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$16.47M	USD	1 Quarter
Net proceeds from credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$18.85M	USD	1 Quarter
Net proceeds from credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$45.70M	USD	1 Quarter
Payments of mortgage debt	`RepaymentsOfSecuredDebt`	$579.00K	USD	1 Quarter
Payments of mortgage debt	`RepaymentsOfSecuredDebt`	$547.00K	USD	1 Quarter
Financing costs	`PaymentsOfFinancingCosts`	$247.00K	USD	1 Quarter
Financing costs	`PaymentsOfFinancingCosts`	$38.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$21.98M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$32.00M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-46.34M	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`	-	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$46.34M	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`	$46.34M	USD	Point-in-time
Interest paid	`InterestPaid`	$1.91M	USD	1 Quarter
Interest paid	`InterestPaid`	$2.33M	USD	1 Quarter

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