10-Q Filing

APPLE HOSPITALITY REIT, INC. CIK: 1418121 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001185185-18-000794`
Period End Date	20180331
Filing Date	20180507
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	aple-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 50 Cash Flow Statement 78

Balance Sheet 48 line items

Line Item	Tag	Value	Unit	Period
Investment in real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$731.28M	USD	Point-in-time
Investment in real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$775.89M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $775,894 and $731,284, respectively	`RealEstateInvestmentPropertyNet`	$4.79B	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $775,894 and $731,284, respectively	`RealEstateInvestmentPropertyNet`	$4.83B	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
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$29.79M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$27.31M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$29.43M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$31.44M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Due from third party managers, net	`DueFromManagers`	$57.24M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Due from third party managers, net	`DueFromManagers`	$31.46M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other assets, net	`OtherAssets`	$47.93M	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
Other assets, net	`OtherAssets`	$54.92M	USD	Point-in-time
Total Assets	`Assets`	$4.90B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	230.34M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	229.96M	shares	Point-in-time
Total Assets	`Assets`	$4.97B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	230.34M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	229.96M	shares	Point-in-time
Revolving credit facility	`LineOfCredit`	$170.70M	USD	Point-in-time
Revolving credit facility	`LineOfCredit`	$106.90M	USD	Point-in-time
Term loans	`UnsecuredDebt`	$656.57M	USD	Point-in-time
Term loans	`UnsecuredDebt`	$656.28M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$500.19M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$459.02M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$109.06M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$89.44M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.33B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.42B	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 230,339,578 and 229,961,548 shares, respectively	`CommonStockValue`	$4.59B	USD	Point-in-time
Common stock, no par value, authorized 800,000,000 shares; issued and outstanding 230,339,578 and 229,961,548 shares, respectively	`CommonStockValue`	$4.59B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$16.07M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$9.78M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$1.05B	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$1.03B	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$3.56B	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$3.57B	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$4.97B	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$4.90B	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Room	`OccupancyRevenue`	$269.39M	USD	1 Quarter
Room	`OccupancyRevenue`	$274.84M	USD	1 Quarter
Other	`OtherHotelOperatingRevenue`	$23.55M	USD	1 Quarter
Other	`OtherHotelOperatingRevenue`	$23.53M	USD	1 Quarter
Total revenue	`Revenues`	$292.93M	USD	1 Quarter
Total revenue	`Revenues`	$298.39M	USD	1 Quarter
Operating	`DirectCostsOfHotels`	$75.95M	USD	1 Quarter
Operating	`DirectCostsOfHotels`	$75.15M	USD	1 Quarter
Hotel administrative	`CostOfOtherPropertyOperatingExpense`	$24.84M	USD	1 Quarter
Hotel administrative	`CostOfOtherPropertyOperatingExpense`	$25.10M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$25.33M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$24.11M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$9.75M	USD	1 Quarter
Utilities	`UtilitiesCosts`	$10.28M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$12.45M	USD	1 Quarter
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$11.92M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$12.73M	USD	1 Quarter
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$12.47M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$10.21M	USD	1 Quarter
Management fees	`OwnedPropertyManagementCosts`	$10.47M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$16.93M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$17.23M	USD	1 Quarter
Ground lease	`OperatingLeasesRentExpenseNet`	$2.82M	USD	1 Quarter
Ground lease	`OperatingLeasesRentExpenseNet`	$2.85M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.75M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.88M	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`	$44.84M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$244.12M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$246.59M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$54.26M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$46.33M	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-11.72M	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-11.92M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$34.62M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$42.34M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$250.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$163.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$34.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$42.18M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$1.54M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$6.29M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$48.47M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$35.91M	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.15	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`	230.51M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	223.05M	shares	1 Quarter

Cash Flow Statement 78 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$34.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$42.18M	USD	1 Quarter
Depreciation	`Depreciation`	$43.77M	USD	1 Quarter
Depreciation	`Depreciation`	$44.84M	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`	$-1.99M	USD	1 Quarter
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-1.85M	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$26.22M	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$25.92M	USD	1 Quarter
Decrease (increase) in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-9.35M	USD	1 Quarter
Decrease (increase) in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$2.48M	USD	1 Quarter
Decrease in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.75M	USD	1 Quarter
Decrease in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-34.81M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$36.16M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$52.86M	USD	1 Quarter
Acquisition of hotel properties, net	`PaymentsToAcquireRealEstate`	$18.13M	USD	1 Quarter
Acquisition of hotel properties, net	`PaymentsToAcquireRealEstate`	$61.61M	USD	1 Quarter
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	-	USD	1 Quarter
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	$204.00K	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$24.67M	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$17.46M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-86.49M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-35.59M	USD	1 Quarter
Net proceeds related to issuance of common shares	`ProceedsDisbursementsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net proceeds related to issuance of common shares	`ProceedsDisbursementsFromIssuanceOfCommonStock`	$4.73M	USD	1 Quarter
Repurchases of common shares	`PaymentsForRepurchaseOfCommonStock`	$4.30M	USD	1 Quarter
Repurchases of common shares	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Repurchases of common shares to satisfy employee withholding requirements	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$432.00K	USD	1 Quarter
Repurchases of common shares to satisfy employee withholding requirements	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$876.00K	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$69.14M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$66.91M	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$63.80M	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$96.60M	USD	1 Quarter
Proceeds from mortgage debt	`ProceedsFromIssuanceOfSecuredDebt`	$44.00M	USD	1 Quarter
Proceeds from mortgage debt	`ProceedsFromIssuanceOfSecuredDebt`	-	USD	1 Quarter
Payments of mortgage debt	`RepaymentsOfDebt`	$2.93M	USD	1 Quarter
Payments of mortgage debt	`RepaymentsOfDebt`	$31.95M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$35.27M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.69M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.65M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.12M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.79M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.43M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.44M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.31M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.79M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.43M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.44M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.31M	USD	Point-in-time
Interest paid	`InterestPaid`	$11.86M	USD	1 Quarter
Interest paid	`InterestPaid`	$11.76M	USD	1 Quarter
Accrued distribution to common shareholders	`DividendsPayableCurrentAndNoncurrent`	$22.30M	USD	Point-in-time
Accrued distribution to common shareholders	`DividendsPayableCurrentAndNoncurrent`	$23.02M	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, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, beginning of period	`RestrictedCashAndCashEquivalents`	$29.79M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, beginning of period	`RestrictedCashAndCashEquivalents`	$27.31M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, beginning of period	`RestrictedCashAndCashEquivalents`	$29.43M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, beginning of period	`RestrictedCashAndCashEquivalents`	$31.44M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.79M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.43M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.44M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.31M	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
Restricted cash-furniture, fixtures and other escrows, end of period	`RestrictedCashAndCashEquivalents`	$29.79M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, end of period	`RestrictedCashAndCashEquivalents`	$27.31M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, end of period	`RestrictedCashAndCashEquivalents`	$29.43M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, end of period	`RestrictedCashAndCashEquivalents`	$31.44M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.79M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.43M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.44M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.31M	USD	Point-in-time

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