10-Q Filing

APPLE REIT TEN, INC. CIK: 1498864 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001185185-15-002055`
Period End Date	20150630
Filing Date	20150806
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	apple10-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 92 Cash Flow Statement 58

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`	$89.28M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Investment in real estate, net of accumulated depreciation of $89,283 and $72,106, respectively	`RealEstateInvestmentPropertyNet`	$839.03M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $89,283 and $72,106, respectively	`RealEstateInvestmentPropertyNet`	$926.07M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	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
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
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$13.29M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	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`	$12.97M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.04M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	90.21M	shares	Point-in-time
Other assets, net	`OtherAssets`	$6.18M	USD	Point-in-time
Other assets, net	`OtherAssets`	$10.45M	USD	Point-in-time
Total Assets	`Assets`	$962.77M	USD	Point-in-time
Total Assets	`Assets`	$909.04M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	90.21M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	91.04M	shares	Point-in-time
Credit facility	`LineOfCredit`	-	USD	Point-in-time
Credit facility	`LineOfCredit`	$25.40M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$169.82M	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`	$11.43M	USD	Point-in-time
Total Liabilities	`Liabilities`	$131.87M	USD	Point-in-time
Total Liabilities	`Liabilities`	$206.65M	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 90,209,554 and 91,037,588 shares, respectively	`CommonStockValue`	$891.80M	USD	Point-in-time
Common stock, no par value, authorized 400,000,000 shares; issued and outstanding 90,209,554 and 91,037,588 shares, respectively	`CommonStockValue`	$883.33M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$114.68M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$127.26M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$777.17M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$756.12M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$962.77M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$909.04M	USD	Point-in-time

Income Statement 92 line items

Line Item	Tag	Value	Unit	Period
Room	`OccupancyRevenue`	$64.67M	USD	1 Quarter
Room	`OccupancyRevenue`	$120.40M	USD	2 Qtrs
Room	`OccupancyRevenue`	$54.48M	USD	1 Quarter
Room	`OccupancyRevenue`	$100.75M	USD	2 Qtrs
Other	`OtherHotelOperatingRevenue`	$5.39M	USD	1 Quarter
Other	`OtherHotelOperatingRevenue`	$10.05M	USD	2 Qtrs
Other	`OtherHotelOperatingRevenue`	$4.86M	USD	1 Quarter
Other	`OtherHotelOperatingRevenue`	$9.04M	USD	2 Qtrs
Total revenue	`Revenues`	$70.06M	USD	1 Quarter
Total revenue	`Revenues`	$109.79M	USD	2 Qtrs
Total revenue	`Revenues`	$130.45M	USD	2 Qtrs
Total revenue	`Revenues`	$59.33M	USD	1 Quarter
Operating	`DirectCostsOfHotels`	$30.98M	USD	2 Qtrs
Operating	`DirectCostsOfHotels`	$16.34M	USD	1 Quarter
Operating	`DirectCostsOfHotels`	$26.90M	USD	2 Qtrs
Operating	`DirectCostsOfHotels`	$14.33M	USD	1 Quarter
Hotel administrative	`CostOfOtherPropertyOperatingExpense`	$4.45M	USD	1 Quarter
Hotel administrative	`CostOfOtherPropertyOperatingExpense`	$8.60M	USD	2 Qtrs
Hotel administrative	`CostOfOtherPropertyOperatingExpense`	$10.19M	USD	2 Qtrs
Hotel administrative	`CostOfOtherPropertyOperatingExpense`	$5.18M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$10.41M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$4.85M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$5.46M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$9.18M	USD	2 Qtrs
Utilities	`UtilitiesCosts`	$3.89M	USD	2 Qtrs
Utilities	`UtilitiesCosts`	$2.06M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$4.17M	USD	2 Qtrs
Utilities	`UtilitiesCosts`	$1.91M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.29M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$4.19M	USD	2 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.07M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$4.44M	USD	2 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$4.91M	USD	2 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$5.75M	USD	2 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.65M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$3.07M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$2.34M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$4.65M	USD	2 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$3.60M	USD	2 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$1.84M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$3.35M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$3.88M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$6.67M	USD	2 Qtrs
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$7.91M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.66M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.41M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.92M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.09M	USD	2 Qtrs
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$1.04M	USD	2 Qtrs
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$2.22M	USD	2 Qtrs
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$642.00K	USD	1 Quarter
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$33.00K	USD	1 Quarter
Depreciation	`Depreciation`	$8.79M	USD	1 Quarter
Depreciation	`Depreciation`	$17.18M	USD	2 Qtrs
Depreciation	`Depreciation`	$7.04M	USD	1 Quarter
Depreciation	`Depreciation`	$14.01M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$101.31M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$44.19M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$86.08M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$51.98M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$29.15M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$23.72M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$15.14M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$18.08M	USD	1 Quarter
Investment income	`InvestmentIncomeInterest`	$6.95M	USD	2 Qtrs
Investment income	`InvestmentIncomeInterest`	$15.00K	USD	2 Qtrs
Investment income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Investment income	`InvestmentIncomeInterest`	$3.49M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.86M	USD	2 Qtrs
Interest expense	`InterestExpense`	$2.16M	USD	1 Quarter
Interest expense	`InterestExpense`	$4.67M	USD	2 Qtrs
Interest expense	`InterestExpense`	$2.34M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$15.92M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$25.31M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$16.29M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$25.99M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.73M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$471.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.44M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$530.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$24.78M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$15.45M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.26M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$14.85M	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.30	USD	2 Qtrs
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.27	USD	2 Qtrs
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.17	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.18	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	90.50M	shares	2 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	83.50M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	90.29M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	81.73M	shares	2 Qtrs

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$24.78M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$15.45M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.26M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$14.85M	USD	1 Quarter
Depreciation	`Depreciation`	$8.79M	USD	1 Quarter
Depreciation	`Depreciation`	$17.18M	USD	2 Qtrs
Depreciation	`Depreciation`	$7.04M	USD	1 Quarter
Depreciation	`Depreciation`	$14.01M	USD	2 Qtrs
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-194.00K	USD	2 Qtrs
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-201.00K	USD	2 Qtrs
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$7.19M	USD	2 Qtrs
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$5.36M	USD	2 Qtrs
(Increase) decrease in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$442.00K	USD	2 Qtrs
(Increase) decrease in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-111.00K	USD	2 Qtrs
Increase in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.21M	USD	2 Qtrs
Increase in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$23.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$33.23M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$35.74M	USD	2 Qtrs
Cash paid for the acquisition of hotel properties, net	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$85.73M	USD	2 Qtrs
Cash paid for the acquisition of hotel properties, net	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$41.37M	USD	2 Qtrs
Capital improvements	`PaymentsForCapitalImprovements`	$5.99M	USD	2 Qtrs
Capital improvements	`PaymentsForCapitalImprovements`	$9.57M	USD	2 Qtrs
(Increase) decrease in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$-69.00K	USD	2 Qtrs
(Increase) decrease in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$551.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-95.23M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-47.91M	USD	2 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$91.99M	USD	2 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	2 Qtrs
Redemptions of Units	`PaymentsForRepurchaseOfEquity`	$8.55M	USD	2 Qtrs
Redemptions of Units	`PaymentsForRepurchaseOfEquity`	$7.40M	USD	2 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$33.64M	USD	2 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$37.35M	USD	2 Qtrs
Net proceeds from (payments on) credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$25.40M	USD	2 Qtrs
Net proceeds from (payments on) credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-34.95M	USD	2 Qtrs
Proceeds from mortgage debt	`ProceedsFromIssuanceOfDebt`	-	USD	2 Qtrs
Proceeds from mortgage debt	`ProceedsFromIssuanceOfDebt`	$35.00M	USD	2 Qtrs
Payments of mortgage debt	`RepaymentsOfSecuredDebt`	$1.06M	USD	2 Qtrs
Payments of mortgage debt	`RepaymentsOfSecuredDebt`	$1.13M	USD	2 Qtrs
Financing costs	`PaymentsOfFinancingCosts`	$218.00K	USD	2 Qtrs
Financing costs	`PaymentsOfFinancingCosts`	$254.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.68M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$13.15M	USD	2 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-46.34M	USD	2 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	2 Qtrs
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`	$4.03M	USD	2 Qtrs
Interest paid	`InterestPaid`	$4.77M	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$676.00K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$1.93M	USD	2 Qtrs
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	-	USD	2 Qtrs
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$16.57M	USD	2 Qtrs

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