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10-Q Filing

APPLE HOSPITALITY REIT, INC. CIK: 1418121 Q3 2017
Filing Information
Form Type 10-Q
Accession Number 0001185185-17-002250
Period End Date 20170930
Filing Date 20171106
Fiscal Year 2017
Fiscal Period Q3
XBRL Instance aple-20170930.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 line items
Line Item Tag Value Unit Period
Investment in real estate accumulated depreciation (in Dollars) RealEstateInvestmentPropertyAccumulatedDepreciation $686.79M USD Point-in-time
Investment in real estate accumulated depreciation (in Dollars) RealEstateInvestmentPropertyAccumulatedDepreciation $557.60M USD Point-in-time
Investment in real estate, net of accumulated depreciation of $686,787 and $557,597, respectively RealEstateInvestmentPropertyNet $4.82B 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 $686,787 and $557,597, respectively RealEstateInvestmentPropertyNet $4.74B 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
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Assets held for sale RealEstateHeldforsale $40.63M USD Point-in-time
Restricted cash-furniture, fixtures and other escrows RestrictedCashAndCashEquivalents $29.43M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Restricted cash-furniture, fixtures and other escrows RestrictedCashAndCashEquivalents $30.30M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 800.00M shares Point-in-time
Due from third party managers, net DueFromManagers $52.35M 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
Other assets, net OtherAssets $56.51M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 223.06M shares Point-in-time
Other assets, net OtherAssets $48.02M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 222.94M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 223.06M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 222.94M shares Point-in-time
Total Assets Assets $4.91B USD Point-in-time
Total Assets Assets $4.98B USD Point-in-time
Revolving credit facility LineOfCredit $216.70M USD Point-in-time
Revolving credit facility LineOfCredit $270.00M USD Point-in-time
Term loans UnsecuredDebt $570.93M USD Point-in-time
Term loans UnsecuredDebt $655.99M USD Point-in-time
Mortgage debt SecuredDebt $432.78M 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 $104.47M USD Point-in-time
Total Liabilities Liabilities $1.41B USD Point-in-time
Total Liabilities Liabilities $1.46B 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 223,060,840 and 222,938,648 shares, respectively CommonStockValue $4.46B USD Point-in-time
Common stock, no par value, authorized 800,000,000 shares; issued and outstanding 223,060,840 and 222,938,648 shares, respectively CommonStockValue $4.45B USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $5.22M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $4.59M USD Point-in-time
Distributions greater than net income AccumulatedDistributionsInExcessOfNetIncome $956.66M USD Point-in-time
Distributions greater than net income AccumulatedDistributionsInExcessOfNetIncome $940.73M USD Point-in-time
Total Shareholders' Equity StockholdersEquity $3.50B USD Point-in-time
Total Shareholders' Equity StockholdersEquity $3.52B USD Point-in-time
Total Liabilities and Shareholders' Equity LiabilitiesAndStockholdersEquity $4.91B USD Point-in-time
Total Liabilities and Shareholders' Equity LiabilitiesAndStockholdersEquity $4.98B USD Point-in-time
Income Statement 108 line items
Line Item Tag Value Unit Period
Room OccupancyRevenue $255.27M USD 1 Quarter
Room OccupancyRevenue $877.97M USD 3 Qtrs
Room OccupancyRevenue $302.30M USD 1 Quarter
Room OccupancyRevenue $698.76M USD 3 Qtrs
Other OtherHotelOperatingRevenue $59.84M USD 3 Qtrs
Other OtherHotelOperatingRevenue $21.20M USD 1 Quarter
Other OtherHotelOperatingRevenue $71.58M USD 3 Qtrs
Other OtherHotelOperatingRevenue $22.63M USD 1 Quarter
Total revenue Revenues $276.47M USD 1 Quarter
Total revenue Revenues $949.55M USD 3 Qtrs
Total revenue Revenues $324.93M USD 1 Quarter
Total revenue Revenues $758.59M USD 3 Qtrs
Operating DirectCostsOfHotels $187.37M USD 3 Qtrs
Operating DirectCostsOfHotels $79.97M USD 1 Quarter
Operating DirectCostsOfHotels $235.47M USD 3 Qtrs
Operating DirectCostsOfHotels $69.08M USD 1 Quarter
Hotel administrative CostOfOtherPropertyOperatingExpense $57.92M USD 3 Qtrs
Hotel administrative CostOfOtherPropertyOperatingExpense $74.89M USD 3 Qtrs
Hotel administrative CostOfOtherPropertyOperatingExpense $24.84M USD 1 Quarter
Hotel administrative CostOfOtherPropertyOperatingExpense $20.87M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $75.87M USD 3 Qtrs
Sales and marketing SellingAndMarketingExpense $59.24M USD 3 Qtrs
Sales and marketing SellingAndMarketingExpense $21.33M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $25.49M USD 1 Quarter
Utilities UtilitiesCosts $10.54M USD 1 Quarter
Utilities UtilitiesCosts $12.04M USD 1 Quarter
Utilities UtilitiesCosts $25.86M USD 3 Qtrs
Utilities UtilitiesCosts $31.98M USD 3 Qtrs
Repair and maintenance CostOfPropertyRepairsAndMaintenance $36.39M USD 3 Qtrs
Repair and maintenance CostOfPropertyRepairsAndMaintenance $12.20M USD 1 Quarter
Repair and maintenance CostOfPropertyRepairsAndMaintenance $29.17M USD 3 Qtrs
Repair and maintenance CostOfPropertyRepairsAndMaintenance $10.48M USD 1 Quarter
Franchise fees DirectOperatingCostRoyaltyExpense $40.61M USD 3 Qtrs
Franchise fees DirectOperatingCostRoyaltyExpense $32.21M USD 3 Qtrs
Franchise fees DirectOperatingCostRoyaltyExpense $11.83M USD 1 Quarter
Franchise fees DirectOperatingCostRoyaltyExpense $13.97M USD 1 Quarter
Management fees OwnedPropertyManagementCosts $26.19M USD 3 Qtrs
Management fees OwnedPropertyManagementCosts $11.31M USD 1 Quarter
Management fees OwnedPropertyManagementCosts $33.07M USD 3 Qtrs
Management fees OwnedPropertyManagementCosts $9.21M 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
Property taxes, insurance and other RealEstateTaxesAndInsurance $17.60M USD 1 Quarter
Property taxes, insurance and other RealEstateTaxesAndInsurance $52.35M USD 3 Qtrs
Ground lease OperatingLeasesRentExpenseNet $7.59M USD 3 Qtrs
Ground lease OperatingLeasesRentExpenseNet $8.49M USD 3 Qtrs
Ground lease OperatingLeasesRentExpenseNet $2.62M USD 1 Quarter
Ground lease OperatingLeasesRentExpenseNet $2.83M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $2.62M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $5.35M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $18.25M USD 3 Qtrs
General and administrative GeneralAndAdministrativeExpense $12.51M USD 3 Qtrs
Transaction and litigation costs (reimbursements) TransactionAndLitigationCostsReimbursements $-2.59M USD 3 Qtrs
Transaction and litigation costs (reimbursements) TransactionAndLitigationCostsReimbursements $36.45M USD 1 Quarter
Transaction and litigation costs (reimbursements) TransactionAndLitigationCostsReimbursements - USD 1 Quarter
Transaction and litigation costs (reimbursements) TransactionAndLitigationCostsReimbursements $37.86M 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 3 Qtrs
Loss on impairment of depreciable real estate assets ImpairmentOfRealEstate $7.88M USD 3 Qtrs
Loss on impairment of depreciable real estate assets ImpairmentOfRealEstate $5.47M USD 1 Quarter
Depreciation Depreciation $104.65M USD 3 Qtrs
Depreciation Depreciation $131.77M USD 3 Qtrs
Depreciation Depreciation $37.34M USD 1 Quarter
Depreciation Depreciation $44.11M USD 1 Quarter
Total expenses OperatingExpenses $249.72M USD 1 Quarter
Total expenses OperatingExpenses $252.63M USD 1 Quarter
Total expenses OperatingExpenses $744.44M USD 3 Qtrs
Total expenses OperatingExpenses $626.36M USD 3 Qtrs
Operating income OperatingIncomeLoss $23.84M USD 1 Quarter
Operating income OperatingIncomeLoss $132.23M USD 3 Qtrs
Operating income OperatingIncomeLoss $75.21M USD 1 Quarter
Operating income OperatingIncomeLoss $205.11M USD 3 Qtrs
Interest and other expense, net InterestIncomeExpenseNet $-35.59M USD 3 Qtrs
Interest and other expense, net InterestIncomeExpenseNet $-12.02M USD 1 Quarter
Interest and other expense, net InterestIncomeExpenseNet $-28.52M USD 3 Qtrs
Interest and other expense, net InterestIncomeExpenseNet $-10.16M USD 1 Quarter
Gain (loss) on sale of real estate GainLossOnDispositionOfAssets1 $15.98M USD 3 Qtrs
Gain (loss) on sale of real estate GainLossOnDispositionOfAssets1 - USD 1 Quarter
Gain (loss) on sale of real estate GainLossOnDispositionOfAssets1 $-157.00K USD 1 Quarter
Gain (loss) on sale of real estate GainLossOnDispositionOfAssets1 - USD 3 Qtrs
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 $185.51M USD 3 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $63.03M USD 1 Quarter
Income tax benefit (expense) IncomeTaxExpenseBenefit $203.00K USD 1 Quarter
Income tax benefit (expense) IncomeTaxExpenseBenefit $712.00K USD 3 Qtrs
Income tax benefit (expense) IncomeTaxExpenseBenefit $-7.00K USD 1 Quarter
Income tax benefit (expense) IncomeTaxExpenseBenefit $616.00K USD 3 Qtrs
Net income NetIncomeLoss $62.82M USD 1 Quarter
Net income NetIncomeLoss $13.69M USD 1 Quarter
Net income NetIncomeLoss $184.79M USD 3 Qtrs
Net income NetIncomeLoss $103.10M USD 3 Qtrs
Interest rate derivatives OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $4.26M USD 1 Quarter
Interest rate derivatives OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $259.00K USD 1 Quarter
Interest rate derivatives OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $629.00K USD 3 Qtrs
Interest rate derivatives OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-7.93M USD 3 Qtrs
Comprehensive income ComprehensiveIncomeNetOfTax $17.95M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $63.08M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $95.16M USD 3 Qtrs
Comprehensive income ComprehensiveIncomeNetOfTax $185.42M USD 3 Qtrs
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 $0.28 USD 1 Quarter
Basic and diluted net income per common share (in Dollars per share) EarningsPerShareBasicAndDiluted $0.83 USD 3 Qtrs
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 223.06M 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 223.05M 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 $62.82M USD 1 Quarter
Net income NetIncomeLoss $13.69M USD 1 Quarter
Net income NetIncomeLoss $184.79M USD 3 Qtrs
Net income NetIncomeLoss $103.10M USD 3 Qtrs
Depreciation Depreciation $104.65M USD 3 Qtrs
Depreciation Depreciation $131.77M USD 3 Qtrs
Depreciation Depreciation $37.34M USD 1 Quarter
Depreciation Depreciation $44.11M USD 1 Quarter
Loss on impairment of depreciable real estate assets ImpairmentOfRealEstate - 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 $7.88M USD 3 Qtrs
Loss on impairment of depreciable real estate assets ImpairmentOfRealEstate $5.47M USD 1 Quarter
Gain on sale of real estate GainLossOnSaleOfProperties $15.98M USD 3 Qtrs
Gain on sale of real estate GainLossOnSaleOfProperties - USD 3 Qtrs
Other non-cash expenses, net OtherNoncashIncomeExpense $-5.37M 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 $20.88M USD 3 Qtrs
Decrease (increase) in other assets, net IncreaseDecreaseInOtherOperatingAssets $1.01M USD 3 Qtrs
Decrease (increase) in other assets, net IncreaseDecreaseInOtherOperatingAssets $-8.51M USD 3 Qtrs
Increase (decrease) in accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $35.31M USD 3 Qtrs
Increase (decrease) in accounts payable and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-20.94M USD 3 Qtrs
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $237.97M USD 3 Qtrs
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $280.51M 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 PaymentsToAcquireRealEstate $56.79M USD 3 Qtrs
Acquisition of hotel properties, net PaymentsToAcquireRealEstate $23.99M USD 3 Qtrs
Deposits and other disbursements for potential acquisitions PaymentsForDepositsOnRealEstateAcquisitions $1.81M USD 3 Qtrs
Deposits and other disbursements for potential acquisitions PaymentsForDepositsOnRealEstateAcquisitions - USD 3 Qtrs
Capital improvements PaymentsForCapitalImprovements $41.37M USD 3 Qtrs
Capital improvements PaymentsForCapitalImprovements $47.52M USD 3 Qtrs
Decrease (increase) in capital improvement reserves IncreaseDecreaseInRestrictedCash $1.35M USD 3 Qtrs
Decrease (increase) in capital improvement reserves IncreaseDecreaseInRestrictedCash $-2.46M USD 3 Qtrs
Net proceeds from sale of real estate ProceedsFromSaleOfRealEstateHeldforinvestment - USD 3 Qtrs
Net proceeds from sale of real estate ProceedsFromSaleOfRealEstateHeldforinvestment $28.37M USD 3 Qtrs
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-72.95M USD 3 Qtrs
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-162.65M USD 3 Qtrs
Repurchases of common shares PaymentsForRepurchaseOfCommonStock $361.00K USD 3 Qtrs
Repurchases of common shares PaymentsForRepurchaseOfCommonStock - USD 3 Qtrs
Repurchases of common shares to satisfy employee withholding requirements PaymentsRelatedToTaxWithholdingForShareBasedCompensation $432.00K USD 3 Qtrs
Repurchases of common shares to satisfy employee withholding requirements PaymentsRelatedToTaxWithholdingForShareBasedCompensation $459.00K USD 3 Qtrs
Equity issuance costs PaymentsOfStockIssuanceCosts $1.18M USD 3 Qtrs
Equity issuance costs PaymentsOfStockIssuanceCosts - USD 3 Qtrs
Distributions paid to common shareholders PaymentsOfDividendsCommonStock $161.94M USD 3 Qtrs
Distributions paid to common shareholders PaymentsOfDividendsCommonStock $200.72M USD 3 Qtrs
Net proceeds from (payments on) revolving credit facility ProceedsFromRepaymentsOfLinesOfCredit $-53.30M USD 3 Qtrs
Net proceeds from (payments on) revolving credit facility ProceedsFromRepaymentsOfLinesOfCredit $187.30M 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 ProceedsFromIssuanceOfDebt $150.00M USD 3 Qtrs
Proceeds from term loans ProceedsFromIssuanceOfDebt $85.00M USD 3 Qtrs
Proceeds from mortgage debt ProceedsFromIssuanceOfSecuredDebt $24.00M USD 3 Qtrs
Proceeds from mortgage debt ProceedsFromIssuanceOfSecuredDebt - USD 3 Qtrs
Payments of mortgage debt RepaymentsOfDebt $37.22M USD 3 Qtrs
Payments of mortgage debt RepaymentsOfDebt $157.82M USD 3 Qtrs
Financing costs PaymentsOfFinancingCosts $3.76M USD 3 Qtrs
Financing costs PaymentsOfFinancingCosts $891.00K USD 3 Qtrs
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-75.32M USD 3 Qtrs
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-207.56M USD 3 Qtrs
Net change in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease - USD 3 Qtrs
Net change 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 - 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 $30.19M USD 3 Qtrs
Interest paid InterestPaid $35.05M USD 3 Qtrs
Stock consideration in Apple Ten merger (see note 2) BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable - USD 3 Qtrs
Stock consideration in Apple Ten merger (see note 2) BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable $956.09M USD 3 Qtrs
Accrued distribution to common shareholders DividendsPayableCurrentAndNoncurrent $22.32M USD Point-in-time
Accrued distribution to common shareholders DividendsPayableCurrentAndNoncurrent $22.30M USD Point-in-time
Mortgage debt assumed by buyer upon sale of real estate NotesReduction - USD 3 Qtrs
Mortgage debt assumed by buyer upon sale of real estate NotesReduction $27.07M USD 3 Qtrs

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

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