10-Q Filing

APPLE HOSPITALITY REIT, INC. CIK: 1418121 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001185185-17-001032`
Period End Date	20170331
Filing Date	20170504
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	aple-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 52 Cash Flow Statement 52

Balance Sheet 48 line items

Line Item	Tag	Value	Unit	Period
Investment in real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$601.05M	USD	Point-in-time
Investment in real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$557.60M	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 $601,055 and $557,597, respectively	`RealEstateInvestmentPropertyNet`	$4.82B	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $601,055 and $557,597, respectively	`RealEstateInvestmentPropertyNet`	$4.80B	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Assets held for sale	`RealEstateHeldforsale`	$39.00M	USD	Point-in-time
Assets held for sale	`RealEstateHeldforsale`	$39.00M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$27.31M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$29.43M	USD	Point-in-time
Due from third party managers, net	`DueFromManagers`	$31.46M	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
Due from third party managers, net	`DueFromManagers`	$57.69M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	223.05M	shares	Point-in-time
Other assets, net	`OtherAssets`	$56.51M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	222.94M	shares	Point-in-time
Other assets, net	`OtherAssets`	$47.42M	USD	Point-in-time
Total Assets	`Assets`	$4.98B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	222.94M	shares	Point-in-time
Total Assets	`Assets`	$4.97B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	223.05M	shares	Point-in-time
Revolving credit facility	`LineOfCredit`	$366.60M	USD	Point-in-time
Revolving credit facility	`LineOfCredit`	$270.00M	USD	Point-in-time
Term loans	`UnsecuredDebt`	$571.20M	USD	Point-in-time
Term loans	`UnsecuredDebt`	$570.93M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$465.04M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$497.03M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$124.86M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$84.24M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.46B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.49B	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 223,049,990 and 222,938,648 shares, respectively	`CommonStockValue`	$4.45B	USD	Point-in-time
Common stock, no par value, authorized 800,000,000 shares; issued and outstanding 223,049,990 and 222,938,648 shares, respectively	`CommonStockValue`	$4.45B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$6.13M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$4.59M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$973.28M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$940.73M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$3.49B	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$3.52B	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$4.98B	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$4.97B	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Room	`OccupancyRevenue`	$206.15M	USD	1 Quarter
Room	`OccupancyRevenue`	$269.39M	USD	1 Quarter
Other	`OtherHotelOperatingRevenue`	$23.53M	USD	1 Quarter
Other	`OtherHotelOperatingRevenue`	$18.34M	USD	1 Quarter
Total revenue	`Revenues`	$292.93M	USD	1 Quarter
Total revenue	`Revenues`	$224.49M	USD	1 Quarter
Operating	`DirectCostsOfHotels`	$56.83M	USD	1 Quarter
Operating	`DirectCostsOfHotels`	$75.15M	USD	1 Quarter
Hotel administrative	`CostOfOtherPropertyOperatingExpense`	$24.84M	USD	1 Quarter
Hotel administrative	`CostOfOtherPropertyOperatingExpense`	$18.20M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$24.11M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$18.02M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$9.75M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$7.60M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$11.92M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$9.08M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$12.47M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$9.45M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$8.04M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$10.21M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$16.93M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$12.45M	USD	1 Quarter
Ground lease	`OperatingLeasesRentExpenseNet`	$2.47M	USD	1 Quarter
Ground lease	`OperatingLeasesRentExpenseNet`	$2.82M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.75M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.83M	USD	1 Quarter
Transaction and litigation costs	`TransactionAndLitigationCosts`	-	USD	1 Quarter
Transaction and litigation costs	`TransactionAndLitigationCosts`	$293.00K	USD	1 Quarter
Loss on impairment of depreciable real estate assets	`ImpairmentOfRealEstate`	-	USD	1 Quarter
Loss on impairment of depreciable real estate assets	`ImpairmentOfRealEstate`	$7.88M	USD	1 Quarter
Depreciation	`Depreciation`	$43.77M	USD	1 Quarter
Depreciation	`Depreciation`	$33.48M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$180.74M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$246.59M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$46.33M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$43.75M	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-11.72M	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-8.80M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$34.95M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$34.62M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$250.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$263.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$34.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$34.37M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-6.69M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$1.54M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$27.99M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$35.91M	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.20	USD	1 Quarter
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`	223.05M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	174.67M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$34.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$34.37M	USD	1 Quarter
Depreciation	`Depreciation`	$43.77M	USD	1 Quarter
Depreciation	`Depreciation`	$33.48M	USD	1 Quarter
Loss on impairment of depreciable real estate assets	`ImpairmentOfRealEstate`	-	USD	1 Quarter
Loss on impairment of depreciable real estate assets	`ImpairmentOfRealEstate`	$7.88M	USD	1 Quarter
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-1.57M	USD	1 Quarter
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-1.85M	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$18.28M	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$26.22M	USD	1 Quarter
Decrease in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-10.37M	USD	1 Quarter
Decrease in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-1.12M	USD	1 Quarter
Decrease in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.78M	USD	1 Quarter
Decrease in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-34.81M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$50.80M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$37.19M	USD	1 Quarter
Acquisition of hotel properties, net	`PaymentsToAcquireRealEstate`	-	USD	1 Quarter
Acquisition of hotel properties, net	`PaymentsToAcquireRealEstate`	$18.13M	USD	1 Quarter
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	$139.00K	USD	1 Quarter
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	-	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$22.33M	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$17.46M	USD	1 Quarter
Decrease in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$-1.09M	USD	1 Quarter
Decrease in capital improvement reserves	`IncreaseDecreaseInRestrictedCash`	$-1.59M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-34.50M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-20.88M	USD	1 Quarter
Repurchases of common shares	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Repurchases of common shares	`PaymentsForRepurchaseOfCommonStock`	$361.00K	USD	1 Quarter
Repurchases of common shares to satisfy employee withholding requirements	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$459.00K	USD	1 Quarter
Repurchases of common shares to satisfy employee withholding requirements	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$432.00K	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$52.36M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$66.91M	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$57.10M	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$96.60M	USD	1 Quarter
Payments of mortgage debt	`RepaymentsOfDebt`	$31.95M	USD	1 Quarter
Payments of mortgage debt	`RepaymentsOfDebt`	$33.84M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.69M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-29.92M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	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`	-	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`	$11.86M	USD	1 Quarter
Interest paid	`InterestPaid`	$9.80M	USD	1 Quarter
Accrued distribution to common shareholders	`DividendsPayableCurrentAndNoncurrent`	$22.30M	USD	Point-in-time
Accrued distribution to common shareholders	`DividendsPayableCurrentAndNoncurrent`	$17.45M	USD	Point-in-time

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