10-Q Filing

APPLE HOSPITALITY REIT, INC. CIK: 1418121 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001185185-19-000665`
Period End Date	20190331
Filing Date	20190508
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	aple-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 34 Cash Flow Statement 84 Stockholders Equity 22

Balance Sheet 48 line items

Line Item	Tag	Value	Unit	Period
Investment in real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$909.89M	USD	Point-in-time
Investment in real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$923.88M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation and amortization of $923,877 and $909,893, respectively	`RealEstateInvestmentPropertyNet`	$4.89B	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Investment in real estate, net of accumulated depreciation and amortization of $923,877 and $909,893, respectively	`RealEstateInvestmentPropertyNet`	$4.82B	USD	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
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$33.63M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$32.27M	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
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$29.79M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Due from third party managers, net	`DueFromManagers`	$51.36M	USD	Point-in-time
Due from third party managers, net	`DueFromManagers`	$29.09M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
Other assets, net	`OtherAssets`	$49.26M	USD	Point-in-time
Other assets, net	`OtherAssets`	$49.54M	USD	Point-in-time
Total Assets	`Assets`	$4.93B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	223.87M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	224.00M	shares	Point-in-time
Total Assets	`Assets`	$5.02B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	224.00M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	223.87M	shares	Point-in-time
Debt, net	`LongTermDebt`	$1.41B	USD	Point-in-time
Debt, net	`LongTermDebt`	$1.41B	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiability`	-	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiability`	$162.82M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$107.42M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$88.93M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.52B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.66B	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 223,868,180 and 223,997,348 shares, respectively	`CommonStockValue`	$4.50B	USD	Point-in-time
Common stock, no par value, authorized 800,000,000 shares; issued and outstanding 223,868,180 and 223,997,348 shares, respectively	`CommonStockValue`	$4.49B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$10.01M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$3.96M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$1.10B	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$1.13B	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.41B	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.37B	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.57B	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.56B	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$5.02B	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.93B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$303.79M	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$298.39M	USD	1 Quarter
Hotel operating expense	`CostOfGoodsAndServicesSold`	$175.45M	USD	1 Quarter
Hotel operating expense	`CostOfGoodsAndServicesSold`	$172.33M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$17.23M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$19.21M	USD	1 Quarter
Operating ground lease	`OperatingLeaseExpense`	$2.85M	USD	1 Quarter
Operating ground lease	`OperatingLeaseExpense`	$405.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.14M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.88M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$44.84M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$47.95M	USD	1 Quarter
Total expense	`OperatingExpenses`	$251.15M	USD	1 Quarter
Total expense	`OperatingExpenses`	$244.12M	USD	1 Quarter
Gain on sale of real estate	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Gain on sale of real estate	`GainLossOnDispositionOfAssets1`	$1.21M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$53.85M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$54.26M	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-11.92M	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-15.49M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$38.36M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$42.34M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$163.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$206.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$38.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$42.18M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$6.29M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-6.04M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$32.11M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$48.47M	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.18	USD	1 Quarter
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.17	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	223.93M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	230.51M	shares	1 Quarter

Cash Flow Statement 84 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$38.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$42.18M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$44.84M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$47.95M	USD	1 Quarter
Gain on sale of real estate	`GainLossOnSaleOfProperties`	$1.21M	USD	1 Quarter
Gain on sale of real estate	`GainLossOnSaleOfProperties`	-	USD	1 Quarter
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-1.99M	USD	1 Quarter
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-1.19M	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$25.92M	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$22.25M	USD	1 Quarter
Increase in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$2.48M	USD	1 Quarter
Increase in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$2.35M	USD	1 Quarter
Decrease in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-5.24M	USD	1 Quarter
Decrease in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.75M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$52.86M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$56.24M	USD	1 Quarter
Acquisition of hotel properties, net	`PaymentsToAcquireRealEstate`	$61.61M	USD	1 Quarter
Acquisition of hotel properties, net	`PaymentsToAcquireRealEstate`	$52.58M	USD	1 Quarter
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	$204.00K	USD	1 Quarter
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	$360.00K	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$21.22M	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$24.67M	USD	1 Quarter
Net proceeds from sale of real estate	`ProceedsFromSaleOfRealEstateHeldforinvestment`	-	USD	1 Quarter
Net proceeds from sale of real estate	`ProceedsFromSaleOfRealEstateHeldforinvestment`	$95.14M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$20.98M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-86.49M	USD	1 Quarter
Net proceeds related to issuance of common shares	`ProceedsFromIssuanceOrSaleOfEquity`	$4.73M	USD	1 Quarter
Net proceeds related to issuance of common shares	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	1 Quarter
Repurchases of common shares	`PaymentsForRepurchaseOfCommonStock`	$4.10M	USD	1 Quarter
Repurchases of common shares	`PaymentsForRepurchaseOfCommonStock`	$4.30M	USD	1 Quarter
Repurchases of common shares to satisfy employee withholding requirements	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$491.00K	USD	1 Quarter
Repurchases of common shares to satisfy employee withholding requirements	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$876.00K	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$67.19M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$69.14M	USD	1 Quarter
Net payments on existing revolving credit facility	`RepaymentsOfLinesOfCredit`	$78.40M	USD	1 Quarter
Net payments on existing revolving credit facility	`RepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Net proceeds from extinguished revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$63.80M	USD	1 Quarter
Net proceeds from extinguished revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Proceeds from term loans	`ProceedsFromIssuanceOfUnsecuredDebt`	$75.00M	USD	1 Quarter
Proceeds from term loans	`ProceedsFromIssuanceOfUnsecuredDebt`	-	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`	$3.42M	USD	1 Quarter
Payments of mortgage debt	`RepaymentsOfDebt`	$2.93M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$35.27M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-78.59M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.36M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.65M	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`	$33.63M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.27M	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, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.79M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$33.63M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.27M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.44M	USD	Point-in-time
Interest paid	`InterestPaid`	$11.76M	USD	1 Quarter
Interest paid	`InterestPaid`	$15.41M	USD	1 Quarter
Accrued distribution to common shareholders	`DividendsPayableCurrentAndNoncurrent`	$22.38M	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`	$33.63M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, beginning of period	`RestrictedCashAndCashEquivalents`	$32.27M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, beginning of period	`RestrictedCashAndCashEquivalents`	$31.44M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, beginning of period	`RestrictedCashAndCashEquivalents`	$29.79M	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`	$33.63M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.27M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.44M	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`	$33.63M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, end of period	`RestrictedCashAndCashEquivalents`	$32.27M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, end of period	`RestrictedCashAndCashEquivalents`	$31.44M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, end of period	`RestrictedCashAndCashEquivalents`	$29.79M	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`	$33.63M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.27M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.44M	USD	Point-in-time

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Distributions declared to shareholders	`CommonStockDividendsPerShareDeclared`	$0.30	USD	1 Quarter
Distributions declared to shareholders	`CommonStockDividendsPerShareDeclared`	$0.30	USD	1 Quarter
Balance	`StockholdersEquity`	$3.41B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.37B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.57B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.56B	USD	Point-in-time
Cumulative effect of the adoption of ASU 2016-02 related to leases	`CumulativeEffectOnRetainedEarningsNetOfTax1`	$5.20M	USD	1 Quarter
Share based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.38M	USD	1 Quarter
Share based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$5.68M	USD	1 Quarter
Issuance of common shares, net	`StockIssuedDuringPeriodValueNewIssues`	$4.68M	USD	1 Quarter
Common shares repurchased	`StockRepurchasedAndRetiredDuringPeriodValue`	$-4.30M	USD	1 Quarter
Common shares repurchased	`StockRepurchasedAndRetiredDuringPeriodValue`	$-4.10M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$6.29M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-6.04M	USD	1 Quarter
Net income	`NetIncomeLoss`	$38.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$42.18M	USD	1 Quarter
Distributions declared to shareholders	`DividendsCommonStock`	$67.18M	USD	1 Quarter
Distributions declared to shareholders	`DividendsCommonStock`	$69.14M	USD	1 Quarter
Balance	`StockholdersEquity`	$3.41B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.37B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.57B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.56B	USD	Point-in-time

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