10-Q Filing

APPLE HOSPITALITY REIT, INC. CIK: 1418121 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001185185-20-000697`
Period End Date	20200331
Filing Date	20200518
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	aple20200331_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 32 Cash Flow Statement 74 Stockholders Equity 21

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Investment in real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$1.10B	USD	Point-in-time
Investment in real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$1.05B	USD	Point-in-time
Investment in real estate, net of accumulated depreciation and amortization of $1,096,718 and $1,054,429, respectively	`RealEstateInvestmentPropertyNet`	$4.78B	USD	Point-in-time
Investment in real estate, net of accumulated depreciation and amortization of $1,096,718 and $1,054,429, 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
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	-	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$12.09M	USD	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$437.26M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$33.63M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$32.27M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$34.66M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$33.34M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
Due from third party managers, net	`DueFromManagers`	$22.04M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	223.86M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	223.02M	shares	Point-in-time
Due from third party managers, net	`DueFromManagers`	$26.93M	USD	Point-in-time
Other assets, net	`OtherAssets`	$37.04M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	223.86M	shares	Point-in-time
Other assets, net	`OtherAssets`	$42.99M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	223.02M	shares	Point-in-time
Total Assets	`Assets`	$4.94B	USD	Point-in-time
Total Assets	`Assets`	$5.31B	USD	Point-in-time
Debt, net	`LongTermDebt`	$1.32B	USD	Point-in-time
Debt, net	`LongTermDebt`	$1.79B	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiability`	$216.63M	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiability`	$217.18M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$105.11M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$114.36M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.11B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.65B	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 223,017,081 and 223,862,913 shares, respectively	`CommonStockValue`	$4.49B	USD	Point-in-time
Common stock, no par value, authorized 800,000,000 shares; issued and outstanding 223,017,081 and 223,862,913 shares, respectively	`CommonStockValue`	$4.49B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-46.86M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.70M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$1.25B	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$1.20B	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.29B	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.19B	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 Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.94B	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$5.31B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$238.01M	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$303.79M	USD	1 Quarter
Hotel operating expense	`CostOfGoodsAndServicesSold`	$175.45M	USD	1 Quarter
Hotel operating expense	`CostOfGoodsAndServicesSold`	$155.27M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$19.59M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$19.61M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.14M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$9.52M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$47.95M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$49.52M	USD	1 Quarter
Total expense	`OperatingExpenses`	$233.91M	USD	1 Quarter
Total expense	`OperatingExpenses`	$251.15M	USD	1 Quarter
Gain on sale of real estate	`GainLossOnDispositionOfAssets1`	$1.21M	USD	1 Quarter
Gain on sale of real estate	`GainLossOnDispositionOfAssets1`	$8.84M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$12.94M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$53.85M	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-15.49M	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-15.57M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.62M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$38.36M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$206.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$146.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.77M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$38.15M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-42.17M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-6.04M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-44.94M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$32.11M	USD	1 Quarter
Basic and diluted net income (loss) per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted net income (loss) 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`	224.29M	shares	1 Quarter

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-2.77M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$38.15M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$47.95M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$49.52M	USD	1 Quarter
Gain on sale of real estate	`GainLossOnSaleOfProperties`	$1.21M	USD	1 Quarter
Gain on sale of real estate	`GainLossOnSaleOfProperties`	$8.84M	USD	1 Quarter
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-1.77M	USD	1 Quarter
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-1.19M	USD	1 Quarter
Decrease (increase) in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$-4.89M	USD	1 Quarter
Decrease (increase) in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$22.25M	USD	1 Quarter
Decrease (increase) in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-439.00K	USD	1 Quarter
Decrease (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`	$-11.67M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$56.24M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$33.34M	USD	1 Quarter
Acquisition of hotel properties, net	`PaymentsToAcquireRealEstate`	-	USD	1 Quarter
Acquisition of hotel properties, net	`PaymentsToAcquireRealEstate`	$52.58M	USD	1 Quarter
Deposits and other disbursements for potential acquisitions	`PaymentsForDepositsOnRealEstateAcquisitions`	-	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`	$27.02M	USD	1 Quarter
Net proceeds from sale of real estate	`ProceedsFromSaleOfRealEstateHeldforinvestment`	$44.39M	USD	1 Quarter
Net proceeds from sale of real estate	`ProceedsFromSaleOfRealEstateHeldforinvestment`	$95.14M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$17.36M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$20.98M	USD	1 Quarter
Repurchases of common shares	`PaymentsForRepurchaseOfCommonStock`	$4.10M	USD	1 Quarter
Repurchases of common shares	`PaymentsForRepurchaseOfCommonStock`	$14.34M	USD	1 Quarter
Repurchases of common shares to satisfy employee withholding requirements	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.75M	USD	1 Quarter
Repurchases of common shares to satisfy employee withholding requirements	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$491.00K	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$67.32M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$67.19M	USD	1 Quarter
Net proceeds from (payments on) revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-78.40M	USD	1 Quarter
Net proceeds from (payments on) revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$374.10M	USD	1 Quarter
Proceeds from term loans and senior notes	`ProceedsFromIssuanceOfUnsecuredDebt`	$50.00M	USD	1 Quarter
Proceeds from term loans and senior notes	`ProceedsFromIssuanceOfUnsecuredDebt`	$75.00M	USD	1 Quarter
Proceeds from mortgage debt	`ProceedsFromIssuanceOfSecuredDebt`	$63.40M	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`	$18.35M	USD	1 Quarter
Financing costs	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Financing costs	`PaymentsOfFinancingCosts`	$511.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$385.23M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-78.59M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$435.93M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.36M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$470.60M	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`	$33.63M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$34.66M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$470.60M	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`	$33.63M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$34.66M	USD	Point-in-time
Interest paid	`InterestPaid`	$15.41M	USD	1 Quarter
Interest paid	`InterestPaid`	$14.70M	USD	1 Quarter
Accrued distribution to common shareholders	`DividendsPayableCurrentAndNoncurrent`	$22.38M	USD	Point-in-time
Accrued distribution to common shareholders	`DividendsPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$437.26M	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`	$34.66M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, beginning of period	`RestrictedCashAndCashEquivalents`	$33.34M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$437.26M	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`	$34.66M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, end of period	`RestrictedCashAndCashEquivalents`	$33.34M	USD	Point-in-time

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Distributions declared to shareholders	`CommonStockDividendsPerShareDeclared`	$0.30	USD	1 Quarter
Distributions declared to shareholders	`CommonStockDividendsPerShareDeclared`	$0.20	USD	1 Quarter
Balance	`StockholdersEquity`	$3.29B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.19B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.41B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.37B	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`	$8.01M	USD	1 Quarter
Common shares repurchased	`StockRepurchasedAndRetiredDuringPeriodValue`	$-14.34M	USD	1 Quarter
Common shares repurchased	`StockRepurchasedAndRetiredDuringPeriodValue`	$-4.10M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-42.17M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-6.04M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.77M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$38.15M	USD	1 Quarter
Distributions declared to shareholders	`DividendsCommonStock`	$67.18M	USD	1 Quarter
Distributions declared to shareholders	`DividendsCommonStock`	$44.95M	USD	1 Quarter
Balance	`StockholdersEquity`	$3.29B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.19B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.41B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.37B	USD	Point-in-time

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