10-Q Filing

APPLE REIT TEN, INC. CIK: 1498864 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001185185-15-002794`
Period End Date	20150930
Filing Date	20151105
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	apple10-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 92 Cash Flow Statement 60

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$98.26M	USD	Point-in-time
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$72.11M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $98,262 and $72,106, respectively	`RealEstateInvestmentPropertyNet`	$918.31M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Investment in real estate, net of accumulated depreciation of $98,262 and $72,106, respectively	`RealEstateInvestmentPropertyNet`	$839.03M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	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
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$46.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.63M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$12.86M	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
Due from third party managers, net	`DueFromManagers`	$11.45M	USD	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.04M	shares	Point-in-time
Other assets, net	`OtherAssets`	$11.30M	USD	Point-in-time
Other assets, net	`OtherAssets`	$6.18M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	89.69M	shares	Point-in-time
Total Assets	`Assets`	$964.54M	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`	89.69M	shares	Point-in-time
Credit facility	`LineOfCredit`	$800.00K	USD	Point-in-time
Credit facility	`LineOfCredit`	-	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$205.69M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$119.71M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$11.32M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$12.16M	USD	Point-in-time
Total Liabilities	`Liabilities`	$131.87M	USD	Point-in-time
Total Liabilities	`Liabilities`	$217.81M	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 89,685,096 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 89,685,096 and 91,037,588 shares, respectively	`CommonStockValue`	$878.01M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$131.33M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$114.68M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$746.73M	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`	$964.54M	USD	Point-in-time

Income Statement 92 line items

Line Item	Tag	Value	Unit	Period
Room	`OccupancyRevenue`	$52.61M	USD	1 Quarter
Room	`OccupancyRevenue`	$64.20M	USD	1 Quarter
Room	`OccupancyRevenue`	$153.37M	USD	3 Qtrs
Room	`OccupancyRevenue`	$184.60M	USD	3 Qtrs
Other	`OtherHotelOperatingRevenue`	$15.13M	USD	3 Qtrs
Other	`OtherHotelOperatingRevenue`	$5.08M	USD	1 Quarter
Other	`OtherHotelOperatingRevenue`	$4.18M	USD	1 Quarter
Other	`OtherHotelOperatingRevenue`	$13.22M	USD	3 Qtrs
Total revenue	`Revenues`	$199.73M	USD	3 Qtrs
Total revenue	`Revenues`	$56.79M	USD	1 Quarter
Total revenue	`Revenues`	$166.59M	USD	3 Qtrs
Total revenue	`Revenues`	$69.28M	USD	1 Quarter
Operating	`DirectCostsOfHotels`	$47.65M	USD	3 Qtrs
Operating	`DirectCostsOfHotels`	$14.28M	USD	1 Quarter
Operating	`DirectCostsOfHotels`	$41.17M	USD	3 Qtrs
Operating	`DirectCostsOfHotels`	$16.67M	USD	1 Quarter
Hotel administrative	`CostOfOtherPropertyOperatingExpense`	$12.92M	USD	3 Qtrs
Hotel administrative	`CostOfOtherPropertyOperatingExpense`	$5.33M	USD	1 Quarter
Hotel administrative	`CostOfOtherPropertyOperatingExpense`	$15.52M	USD	3 Qtrs
Hotel administrative	`CostOfOtherPropertyOperatingExpense`	$4.32M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$15.82M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$13.98M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$4.80M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$5.41M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$6.14M	USD	3 Qtrs
Utilities	`UtilitiesCosts`	$2.25M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$6.72M	USD	3 Qtrs
Utilities	`UtilitiesCosts`	$2.55M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$1.98M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$6.96M	USD	3 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$6.17M	USD	3 Qtrs
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$2.52M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.92M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$8.67M	USD	3 Qtrs
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$2.52M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$7.43M	USD	3 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$1.68M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$5.28M	USD	3 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$6.94M	USD	3 Qtrs
Management fees	`OwnedPropertyManagementCosts`	$2.29M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$9.98M	USD	3 Qtrs
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$12.01M	USD	3 Qtrs
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$4.10M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$3.31M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.37M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.12M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.46M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.72M	USD	1 Quarter
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$14.00K	USD	1 Quarter
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$1.05M	USD	3 Qtrs
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$2.24M	USD	3 Qtrs
Acquisition related costs	`BusinessCombinationAcquisitionRelatedCosts`	$13.00K	USD	1 Quarter
Depreciation	`Depreciation`	$26.16M	USD	3 Qtrs
Depreciation	`Depreciation`	$8.98M	USD	1 Quarter
Depreciation	`Depreciation`	$7.23M	USD	1 Quarter
Depreciation	`Depreciation`	$21.24M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$153.80M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$52.49M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$43.74M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$129.82M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$16.79M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$13.05M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$45.94M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$36.77M	USD	3 Qtrs
Investment income	`InvestmentIncomeInterest`	$17.00K	USD	3 Qtrs
Investment income	`InvestmentIncomeInterest`	$2.00K	USD	1 Quarter
Investment income	`InvestmentIncomeInterest`	$3.53M	USD	1 Quarter
Investment income	`InvestmentIncomeInterest`	$10.47M	USD	3 Qtrs
Interest expense	`InterestExpense`	$6.41M	USD	3 Qtrs
Interest expense	`InterestExpense`	$6.54M	USD	3 Qtrs
Interest expense	`InterestExpense`	$2.55M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.87M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$39.55M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$40.70M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$14.24M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$14.71M	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$1.20M	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$307.00K	USD	3 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-223.00K	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$2.93M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$39.24M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$37.77M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$13.51M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.46M	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.16	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.43	USD	3 Qtrs
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.45	USD	3 Qtrs
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.15	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	90.27M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	89.79M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	90.26M	shares	3 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	84.61M	shares	3 Qtrs

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$39.24M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$37.77M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$13.51M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.46M	USD	1 Quarter
Depreciation	`Depreciation`	$26.16M	USD	3 Qtrs
Depreciation	`Depreciation`	$8.98M	USD	1 Quarter
Depreciation	`Depreciation`	$7.23M	USD	1 Quarter
Depreciation	`Depreciation`	$21.24M	USD	3 Qtrs
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-397.00K	USD	3 Qtrs
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-355.00K	USD	3 Qtrs
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$4.05M	USD	3 Qtrs
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$5.67M	USD	3 Qtrs
Decrease in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-373.00K	USD	3 Qtrs
Decrease in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-731.00K	USD	3 Qtrs
Increase in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.17M	USD	3 Qtrs
Increase in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$610.00K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$56.69M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$61.62M	USD	3 Qtrs
Acquisition of hotel properties, net	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$85.73M	USD	3 Qtrs
Acquisition of hotel properties, net	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$40.21M	USD	3 Qtrs
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	$150.00K	USD	3 Qtrs
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	$325.00K	USD	3 Qtrs
Capital improvements	`PaymentsForCapitalImprovements`	$10.98M	USD	3 Qtrs
Capital improvements	`PaymentsForCapitalImprovements`	$12.28M	USD	3 Qtrs
Increase in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$899.00K	USD	3 Qtrs
Increase in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$231.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-53.71M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-97.09M	USD	3 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	$134.82M	USD	3 Qtrs
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	3 Qtrs
Redemptions of Units	`PaymentsForRepurchaseOfEquity`	$12.51M	USD	3 Qtrs
Redemptions of Units	`PaymentsForRepurchaseOfEquity`	$13.90M	USD	3 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$52.22M	USD	3 Qtrs
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$55.88M	USD	3 Qtrs
Net proceeds from (payments on) credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$800.00K	USD	3 Qtrs
Net proceeds from (payments on) credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-71.24M	USD	3 Qtrs
Proceeds from mortgage debt	`ProceedsFromIssuanceOfDebt`	-	USD	3 Qtrs
Proceeds from mortgage debt	`ProceedsFromIssuanceOfDebt`	$71.85M	USD	3 Qtrs
Payments of mortgage debt	`RepaymentsOfSecuredDebt`	$1.94M	USD	3 Qtrs
Payments of mortgage debt	`RepaymentsOfSecuredDebt`	$1.58M	USD	3 Qtrs
Financing costs	`PaymentsOfFinancingCosts`	$1.17M	USD	3 Qtrs
Financing costs	`PaymentsOfFinancingCosts`	$254.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.98M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-239.00K	USD	3 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-35.71M	USD	3 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	3 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`	$46.34M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.63M	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
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.63M	USD	Point-in-time
Interest paid	`InterestPaid`	$6.87M	USD	3 Qtrs
Interest paid	`InterestPaid`	$6.64M	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$180.00K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$3.67M	USD	3 Qtrs
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	-	USD	3 Qtrs
Notes payable assumed in acquisitions	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$16.57M	USD	3 Qtrs

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