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10-Q Filing

APPLE HOSPITALITY REIT, INC. CIK: 1418121 Q3 2016
Filing Information
Form Type 10-Q
Accession Number 0001185185-16-005663
Period End Date 20160930
Filing Date 20161107
Fiscal Year 2016
Fiscal Period Q3
XBRL Instance aple-20160930.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 line items
Line Item Tag Value Unit Period
Investment in real estate accumulated depreciation (in Dollars) RealEstateInvestmentPropertyAccumulatedDepreciation $526.97M USD Point-in-time
Investment in real estate accumulated depreciation (in Dollars) RealEstateInvestmentPropertyAccumulatedDepreciation $423.06M USD Point-in-time
Investment in real estate, net of accumulated depreciation of $526,973 and $423,057, respectively RealEstateInvestmentPropertyNet $3.64B USD Point-in-time
Investment in real estate, net of accumulated depreciation of $526,973 and $423,057, respectively RealEstateInvestmentPropertyNet $4.89B 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
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Restricted cash-furniture, fixtures and other escrows RestrictedCashAndCashEquivalents $31.95M USD Point-in-time
Restricted cash-furniture, fixtures and other escrows RestrictedCashAndCashEquivalents $22.65M USD Point-in-time
Due from third party managers, net DueFromManagers $24.74M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Due from third party managers, net DueFromManagers $50.97M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Other assets, net OtherAssets $41.55M USD Point-in-time
Other assets, net OtherAssets $33.61M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 800.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 800.00M shares Point-in-time
Total Assets Assets $5.02B USD Point-in-time
Total Assets Assets $3.72B USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 223.41M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 174.37M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 223.41M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 174.37M shares Point-in-time
Revolving credit facility LineOfCredit $302.10M USD Point-in-time
Revolving credit facility LineOfCredit $114.80M USD Point-in-time
Term loans UnsecuredDebt $421.44M USD Point-in-time
Term loans UnsecuredDebt $570.67M USD Point-in-time
Mortgage debt SecuredDebt $461.86M USD Point-in-time
Mortgage debt SecuredDebt $476.40M USD Point-in-time
Accounts payable and other liabilities AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $77.61M USD Point-in-time
Accounts payable and other liabilities AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $133.12M USD Point-in-time
Total Liabilities Liabilities $1.48B USD Point-in-time
Total Liabilities Liabilities $1.08B USD Point-in-time
Preferred stock, authorized 30,000,000 shares; none issued and outstanding PreferredStockValue - USD Point-in-time
Preferred stock, authorized 30,000,000 shares; none issued and outstanding PreferredStockValue - USD Point-in-time
Common stock, no par value, authorized 800,000,000 shares; issued and outstanding 223,406,001 and 174,368,340 shares, respectively CommonStockValue $4.46B USD Point-in-time
Common stock, no par value, authorized 800,000,000 shares; issued and outstanding 223,406,001 and 174,368,340 shares, respectively CommonStockValue $3.50B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.06M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-9.99M USD Point-in-time
Distributions greater than net income AccumulatedDistributionsInExcessOfNetIncome $915.20M USD Point-in-time
Distributions greater than net income AccumulatedDistributionsInExcessOfNetIncome $851.47M USD Point-in-time
Total Shareholders Equity StockholdersEquity $2.65B USD Point-in-time
Total Shareholders Equity StockholdersEquity $3.54B USD Point-in-time
Total Liabilities and Shareholders Equity LiabilitiesAndStockholdersEquity $3.72B USD Point-in-time
Total Liabilities and Shareholders Equity LiabilitiesAndStockholdersEquity $5.02B USD Point-in-time
Income Statement 112 line items
Line Item Tag Value Unit Period
Room OccupancyRevenue $628.98M USD 3 Qtrs
Room OccupancyRevenue $255.27M USD 1 Quarter
Room OccupancyRevenue $221.98M USD 1 Quarter
Room OccupancyRevenue $698.76M USD 3 Qtrs
Other OtherHotelOperatingRevenue $21.20M USD 1 Quarter
Other OtherHotelOperatingRevenue $18.58M USD 1 Quarter
Other OtherHotelOperatingRevenue $59.84M USD 3 Qtrs
Other OtherHotelOperatingRevenue $56.30M USD 3 Qtrs
Total revenue Revenues $276.47M USD 1 Quarter
Total revenue Revenues $685.28M USD 3 Qtrs
Total revenue Revenues $758.59M USD 3 Qtrs
Total revenue Revenues $240.56M USD 1 Quarter
Operating DirectCostsOfHotels $170.78M USD 3 Qtrs
Operating DirectCostsOfHotels $187.37M USD 3 Qtrs
Operating DirectCostsOfHotels $69.08M USD 1 Quarter
Operating DirectCostsOfHotels $59.02M USD 1 Quarter
Hotel administrative CostOfOtherPropertyOperatingExpense $57.92M USD 3 Qtrs
Hotel administrative CostOfOtherPropertyOperatingExpense $52.25M USD 3 Qtrs
Hotel administrative CostOfOtherPropertyOperatingExpense $20.87M USD 1 Quarter
Hotel administrative CostOfOtherPropertyOperatingExpense $17.68M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $53.50M USD 3 Qtrs
Sales and marketing SellingAndMarketingExpense $21.33M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $18.52M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $59.24M USD 3 Qtrs
Utilities UtilitiesCosts $25.22M USD 3 Qtrs
Utilities UtilitiesCosts $25.86M USD 3 Qtrs
Utilities UtilitiesCosts $9.51M USD 1 Quarter
Utilities UtilitiesCosts $10.54M USD 1 Quarter
Repair and maintenance CostOfPropertyRepairsAndMaintenance $27.77M USD 3 Qtrs
Repair and maintenance CostOfPropertyRepairsAndMaintenance $29.17M USD 3 Qtrs
Repair and maintenance CostOfPropertyRepairsAndMaintenance $10.48M USD 1 Quarter
Repair and maintenance CostOfPropertyRepairsAndMaintenance $9.24M USD 1 Quarter
Franchise fees DirectOperatingCostRoyaltyExpense $29.07M USD 3 Qtrs
Franchise fees DirectOperatingCostRoyaltyExpense $11.83M USD 1 Quarter
Franchise fees DirectOperatingCostRoyaltyExpense $10.36M USD 1 Quarter
Franchise fees DirectOperatingCostRoyaltyExpense $32.21M USD 3 Qtrs
Management fees OwnedPropertyManagementCosts $9.21M USD 1 Quarter
Management fees OwnedPropertyManagementCosts $26.19M USD 3 Qtrs
Management fees OwnedPropertyManagementCosts $24.08M USD 3 Qtrs
Management fees OwnedPropertyManagementCosts $8.49M USD 1 Quarter
Property taxes, insurance and other RealEstateTaxesAndInsurance $33.73M USD 3 Qtrs
Property taxes, insurance and other RealEstateTaxesAndInsurance $10.45M USD 1 Quarter
Property taxes, insurance and other RealEstateTaxesAndInsurance $40.31M USD 3 Qtrs
Property taxes, insurance and other RealEstateTaxesAndInsurance $14.79M USD 1 Quarter
Ground lease OperatingLeasesRentExpenseNet $7.50M USD 3 Qtrs
Ground lease OperatingLeasesRentExpenseNet $7.59M USD 3 Qtrs
Ground lease OperatingLeasesRentExpenseNet $2.62M USD 1 Quarter
Ground lease OperatingLeasesRentExpenseNet $2.50M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $5.17M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $12.51M USD 3 Qtrs
General and administrative GeneralAndAdministrativeExpense $14.42M USD 3 Qtrs
General and administrative GeneralAndAdministrativeExpense $2.62M USD 1 Quarter
Transaction costs TransactionCosts $37.86M USD 3 Qtrs
Transaction costs TransactionCosts $842.00K USD 1 Quarter
Transaction costs TransactionCosts $36.45M USD 1 Quarter
Transaction costs TransactionCosts $7.89M USD 3 Qtrs
Loss on impairment of depreciable real estate assets ImpairmentOfRealEstate - USD 1 Quarter
Loss on impairment of depreciable real estate assets ImpairmentOfRealEstate $5.47M USD 1 Quarter
Loss on impairment of depreciable real estate assets ImpairmentOfRealEstate $5.47M USD 3 Qtrs
Loss on impairment of depreciable real estate assets ImpairmentOfRealEstate - USD 3 Qtrs
Depreciation Depreciation $37.34M USD 1 Quarter
Depreciation Depreciation $94.20M USD 3 Qtrs
Depreciation Depreciation $32.35M USD 1 Quarter
Depreciation Depreciation $104.65M USD 3 Qtrs
Total expenses OperatingExpenses $184.15M USD 1 Quarter
Total expenses OperatingExpenses $626.36M USD 3 Qtrs
Total expenses OperatingExpenses $540.42M USD 3 Qtrs
Total expenses OperatingExpenses $252.63M USD 1 Quarter
Operating income OperatingIncomeLoss $144.86M USD 3 Qtrs
Operating income OperatingIncomeLoss $132.23M USD 3 Qtrs
Operating income OperatingIncomeLoss $56.41M USD 1 Quarter
Operating income OperatingIncomeLoss $23.84M USD 1 Quarter
Interest and other expense, net InterestIncomeExpenseNet $-28.52M USD 3 Qtrs
Interest and other expense, net InterestIncomeExpenseNet $-24.27M USD 3 Qtrs
Interest and other expense, net InterestIncomeExpenseNet $-10.16M USD 1 Quarter
Interest and other expense, net InterestIncomeExpenseNet $-9.30M USD 1 Quarter
Gain on sale of real estate GainLossOnDispositionOfAssets1 - USD 1 Quarter
Gain on sale of real estate GainLossOnDispositionOfAssets1 - USD 3 Qtrs
Gain on sale of real estate GainLossOnDispositionOfAssets1 $15.36M USD 3 Qtrs
Gain on sale of real estate GainLossOnDispositionOfAssets1 - USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $47.11M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $103.71M USD 3 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $13.69M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $135.95M USD 3 Qtrs
Income tax benefit (expense) IncomeTaxExpenseBenefit $616.00K USD 3 Qtrs
Income tax benefit (expense) IncomeTaxExpenseBenefit $138.00K USD 1 Quarter
Income tax benefit (expense) IncomeTaxExpenseBenefit $-7.00K USD 1 Quarter
Income tax benefit (expense) IncomeTaxExpenseBenefit $872.00K USD 3 Qtrs
Net income NetIncomeLoss $103.10M USD 3 Qtrs
Net income NetIncomeLoss $135.08M USD 3 Qtrs
Net income NetIncomeLoss $13.69M USD 1 Quarter
Net income NetIncomeLoss $46.97M USD 1 Quarter
Unrealized gain (loss) on interest rate derivatives OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $-7.93M USD 3 Qtrs
Unrealized gain (loss) on interest rate derivatives OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $-5.98M USD 1 Quarter
Unrealized gain (loss) on interest rate derivatives OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $-6.44M USD 3 Qtrs
Unrealized gain (loss) on interest rate derivatives OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $4.26M USD 1 Quarter
Cash flow hedge losses reclassified to earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax - USD 1 Quarter
Cash flow hedge losses reclassified to earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax $-785.00K USD 3 Qtrs
Cash flow hedge losses reclassified to earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax - USD 3 Qtrs
Cash flow hedge losses reclassified to earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax - USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $129.43M USD 3 Qtrs
Comprehensive income ComprehensiveIncomeNetOfTax $17.95M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $95.16M USD 3 Qtrs
Comprehensive income ComprehensiveIncomeNetOfTax $40.99M USD 1 Quarter
Basic and diluted net income per common share (in Dollars per share) EarningsPerShareBasicAndDiluted $0.57 USD 3 Qtrs
Basic and diluted net income per common share (in Dollars per share) EarningsPerShareBasicAndDiluted $0.74 USD 3 Qtrs
Basic and diluted net income per common share (in Dollars per share) EarningsPerShareBasicAndDiluted $0.27 USD 1 Quarter
Basic and diluted net income per common share (in Dollars per share) EarningsPerShareBasicAndDiluted $0.07 USD 1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares) WeightedAverageNumberOfShareOutstandingBasicAndDiluted 175.07M shares 1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares) WeightedAverageNumberOfShareOutstandingBasicAndDiluted 190.56M shares 1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares) WeightedAverageNumberOfShareOutstandingBasicAndDiluted 182.25M shares 3 Qtrs
Weighted average common shares outstanding - basic and diluted (in Shares) WeightedAverageNumberOfShareOutstandingBasicAndDiluted 180.00M shares 3 Qtrs
Cash Flow Statement 78 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $103.10M USD 3 Qtrs
Net income NetIncomeLoss $135.08M USD 3 Qtrs
Net income NetIncomeLoss $13.69M USD 1 Quarter
Net income NetIncomeLoss $46.97M USD 1 Quarter
Depreciation Depreciation $37.34M USD 1 Quarter
Depreciation Depreciation $94.20M USD 3 Qtrs
Depreciation Depreciation $32.35M USD 1 Quarter
Depreciation Depreciation $104.65M USD 3 Qtrs
Loss on impairment of depreciable real estate assets ImpairmentOfRealEstate - USD 1 Quarter
Loss on impairment of depreciable real estate assets ImpairmentOfRealEstate $5.47M USD 1 Quarter
Loss on impairment of depreciable real estate assets ImpairmentOfRealEstate $5.47M USD 3 Qtrs
Loss on impairment of depreciable real estate assets ImpairmentOfRealEstate - USD 3 Qtrs
Gain on sale of real estate GainLossOnSaleOfProperties - USD 3 Qtrs
Gain on sale of real estate GainLossOnSaleOfProperties $15.36M USD 3 Qtrs
Other non-cash expenses, net OtherNoncashIncomeExpense $-5.00M USD 3 Qtrs
Other non-cash expenses, net OtherNoncashIncomeExpense $-4.81M USD 3 Qtrs
Increase in due from third party managers, net IncreaseDecreaseInDueFromThirdPartyManagers $14.35M USD 3 Qtrs
Increase in due from third party managers, net IncreaseDecreaseInDueFromThirdPartyManagers $15.52M USD 3 Qtrs
Increase in other assets, net IncreaseDecreaseInOtherOperatingAssets $4.63M USD 3 Qtrs
Increase in other assets, net IncreaseDecreaseInOtherOperatingAssets $1.01M USD 3 Qtrs
Increase in accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $35.31M USD 3 Qtrs
Increase in accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $6.39M USD 3 Qtrs
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $205.16M USD 3 Qtrs
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $237.97M USD 3 Qtrs
Cash consideration in Apple Ten merger PaymentsToAcquireBusinessesGross - USD 3 Qtrs
Cash consideration in Apple Ten merger PaymentsToAcquireBusinessesGross $93.59M USD 3 Qtrs
Acquisition of hotel properties, net PaymentsToAcquireBusinessesNetOfCashAcquired $213.19M USD 3 Qtrs
Acquisition of hotel properties, net PaymentsToAcquireBusinessesNetOfCashAcquired $23.99M USD 3 Qtrs
Deposits and other disbursements for potential acquisitions PaymentsForDepositsOnRealEstateAcquisitions - USD 3 Qtrs
Deposits and other disbursements for potential acquisitions PaymentsForDepositsOnRealEstateAcquisitions $1.13M USD 3 Qtrs
Capital improvements and development costs PaymentsForCapitalImprovements $47.52M USD 3 Qtrs
Capital improvements and development costs PaymentsForCapitalImprovements $40.05M USD 3 Qtrs
Decrease in capital improvement reserves IncreaseDecreaseInRestrictedCash $-2.46M USD 3 Qtrs
Decrease in capital improvement reserves IncreaseDecreaseInRestrictedCash $-7.35M USD 3 Qtrs
Net proceeds from sale of hotel properties ProceedsFromSaleOfRealEstateHeldforinvestment $205.15M USD 3 Qtrs
Net proceeds from sale of hotel properties ProceedsFromSaleOfRealEstateHeldforinvestment - USD 3 Qtrs
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-162.65M USD 3 Qtrs
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-41.87M USD 3 Qtrs
Repurchases of common shares PaymentsForRepurchaseOfCommonStock $361.00K USD 3 Qtrs
Repurchases of common shares PaymentsForRepurchaseOfCommonStock $236.72M USD 3 Qtrs
Repurchases of common shares to satisfy employee withholding requirements PaymentsRelatedToTaxWithholdingForShareBasedCompensation $459.00K USD 3 Qtrs
Repurchases of common shares to satisfy employee withholding requirements PaymentsRelatedToTaxWithholdingForShareBasedCompensation - USD 3 Qtrs
Equity issuance costs PaymentsOfStockIssuanceCosts - USD 3 Qtrs
Equity issuance costs PaymentsOfStockIssuanceCosts $1.18M USD 3 Qtrs
Distributions paid to common shareholders PaymentsOfDividendsCommonStock $176.81M USD 3 Qtrs
Distributions paid to common shareholders PaymentsOfDividendsCommonStock $161.94M USD 3 Qtrs
Net proceeds from (payments on) revolving credit facility ProceedsFromRepaymentsOfLinesOfCredit $187.30M USD 3 Qtrs
Net proceeds from (payments on) revolving credit facility ProceedsFromRepaymentsOfLinesOfCredit $-16.10M USD 3 Qtrs
Payments on extinguished credit facility RepaymentsOfLinesOfCredit - USD 3 Qtrs
Payments on extinguished credit facility RepaymentsOfLinesOfCredit $111.10M USD 3 Qtrs
Proceeds from term loans ProceedsFromIssuanceOfUnsecuredDebt $425.00M USD 3 Qtrs
Proceeds from term loans ProceedsFromIssuanceOfUnsecuredDebt $150.00M USD 3 Qtrs
Repayment of term loan RepaymentsOfUnsecuredDebt $100.00M USD 3 Qtrs
Repayment of term loan RepaymentsOfUnsecuredDebt - USD 3 Qtrs
Proceeds from mortgage debt ProceedsFromIssuanceOfDebt $24.00M USD 3 Qtrs
Proceeds from mortgage debt ProceedsFromIssuanceOfDebt $38.00M USD 3 Qtrs
Payments of mortgage debt RepaymentsOfDebt $89.55M USD 3 Qtrs
Payments of mortgage debt RepaymentsOfDebt $157.82M USD 3 Qtrs
Financing costs PaymentsOfFinancingCosts $7.01M USD 3 Qtrs
Financing costs PaymentsOfFinancingCosts $3.76M USD 3 Qtrs
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-163.19M USD 3 Qtrs
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-75.32M USD 3 Qtrs
Increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease - USD 3 Qtrs
Increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $105.00K 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 $105.00K 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 $105.00K USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue - USD Point-in-time
Interest paid InterestPaid $25.23M USD 3 Qtrs
Interest paid InterestPaid $30.19M USD 3 Qtrs
Stock consideration in Apple Ten merger (see details in note 2) StockIssuedDuringPeriodValueAcquisitions $956.09M USD 3 Qtrs
Stock consideration in Apple Ten merger (see details in note 2) StockIssuedDuringPeriodValueAcquisitions - USD 3 Qtrs
Accrued distribution to common shareholders DividendsPayableCurrentAndNoncurrent $22.32M USD Point-in-time
Accrued distribution to common shareholders DividendsPayableCurrentAndNoncurrent $17.44M USD Point-in-time

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

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