10-Q Filing

APPLE HOSPITALITY REIT, INC. CIK: 1418121 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-024978`
Period End Date	20210331
Filing Date	20210506
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	aple-10q_20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 34 Cash Flow Statement 76 Stockholders Equity 21

Balance Sheet 53 line items

Line Item	Tag	Value	Unit	Period
Investment in real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$1.28B	USD	Point-in-time
Investment in real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$1.24B	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 and amortization of $1,275,557 and $1,235,698, respectively	`RealEstateInvestmentPropertyNet`	$4.71B	USD	Point-in-time
Investment in real estate, net of accumulated depreciation and amortization of $1,275,557 and $1,235,698, respectively	`RealEstateInvestmentPropertyNet`	$4.73B	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$5.32M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$5.17M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.56M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$437.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.78M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	800.00M	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$30.15M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	800.00M	shares	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`	$28.81M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$33.34M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	223.21M	shares	Point-in-time
Due from third party managers, net	`DueFromManagers`	$38.77M	USD	Point-in-time
Due from third party managers, net	`DueFromManagers`	$22.14M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	223.66M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	223.66M	shares	Point-in-time
Other assets, net	`OtherAssets`	$35.04M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	223.21M	shares	Point-in-time
Other assets, net	`OtherAssets`	$33.59M	USD	Point-in-time
Total Assets	`Assets`	$4.83B	USD	Point-in-time
Total Assets	`Assets`	$4.83B	USD	Point-in-time
Debt, net	`LongTermDebt`	$1.48B	USD	Point-in-time
Debt, net	`LongTermDebt`	$1.52B	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiability`	$219.98M	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiability`	$221.03M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$97.86M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$80.11M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.80B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.82B	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 223,656,264 and 223,212,346 shares, respectively	`CommonStockValue`	$4.49B	USD	Point-in-time
Common stock, no par value, authorized 800,000,000 shares; issued and outstanding 223,656,264 and 223,212,346 shares, respectively	`CommonStockValue`	$4.49B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-26.72M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-42.80M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$1.46B	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$1.42B	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.29B	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.00B	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.03B	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.19B	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.83B	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.83B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$158.71M	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$238.01M	USD	1 Quarter
Total hotel operating expense	`CostOfGoodsAndServicesSold`	$103.74M	USD	1 Quarter
Total hotel operating expense	`CostOfGoodsAndServicesSold`	$155.27M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$19.69M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$19.59M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$9.52M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.12M	USD	1 Quarter
Loss on impairment of depreciable real estate assets	`ImpairmentOfRealEstate`	-	USD	1 Quarter
Loss on impairment of depreciable real estate assets	`ImpairmentOfRealEstate`	$10.75M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$48.71M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$49.52M	USD	1 Quarter
Total expense	`CostsAndExpenses`	$191.01M	USD	1 Quarter
Total expense	`CostsAndExpenses`	$233.91M	USD	1 Quarter
Gain on sale of real estate	`GainLossOnDispositionOfAssets1`	$8.84M	USD	1 Quarter
Gain on sale of real estate	`GainLossOnDispositionOfAssets1`	$4.48M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-27.81M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$12.94M	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-18.51M	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-15.57M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-46.33M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.62M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$108.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$146.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-46.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.77M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-42.17M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$16.08M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-30.35M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-44.94M	USD	1 Quarter
Basic and diluted net loss per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted net loss per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.21	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	224.29M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	223.73M	shares	1 Quarter

Cash Flow Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-46.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.77M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$48.71M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$49.52M	USD	1 Quarter
Loss on impairment of depreciable real estate assets	`ImpairmentOfRealEstate`	-	USD	1 Quarter
Loss on impairment of depreciable real estate assets	`ImpairmentOfRealEstate`	$10.75M	USD	1 Quarter
Gain on sale of real estate	`GainLossOnDispositionOfAssets1`	$8.84M	USD	1 Quarter
Gain on sale of real estate	`GainLossOnDispositionOfAssets1`	$4.48M	USD	1 Quarter
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-1.77M	USD	1 Quarter
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-2.68M	USD	1 Quarter
Decrease (increase) in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$16.63M	USD	1 Quarter
Decrease (increase) in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$-4.89M	USD	1 Quarter
Decrease in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-1.03M	USD	1 Quarter
Decrease in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-439.00K	USD	1 Quarter
Increase (decrease) in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.26M	USD	1 Quarter
Increase (decrease) in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-11.67M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.11M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$33.34M	USD	1 Quarter
Acquisition of hotel properties, net	`PaymentsToAcquireCommercialRealEstate`	$49.37M	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$27.02M	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$2.51M	USD	1 Quarter
Net proceeds from sale of real estate	`ProceedsFromSaleOfRealEstateHeldforinvestment`	$17.59M	USD	1 Quarter
Net proceeds from sale of real estate	`ProceedsFromSaleOfRealEstateHeldforinvestment`	$44.39M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-34.29M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$17.36M	USD	1 Quarter
Repurchases of common shares	`PaymentsForRepurchaseOfCommonStock`	$14.34M	USD	1 Quarter
Repurchases of common shares to satisfy employee withholding requirements	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.65M	USD	1 Quarter
Repurchases of common shares to satisfy employee withholding requirements	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.75M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$67.32M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$22.40M	USD	Point-in-time
Equity issuance costs	`PaymentsOfStockIssuanceCosts`	$1.00K	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$44.10M	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$374.10M	USD	1 Quarter
Proceeds from term loans and senior notes	`ProceedsFromIssuanceOfUnsecuredDebt`	$50.00M	USD	1 Quarter
Proceeds from mortgage debt and other loans	`ProceedsFromIssuanceOfSecuredDebt`	$63.40M	USD	1 Quarter
Payments of mortgage debt and other loans	`RepaymentsOfDebt`	$3.02M	USD	1 Quarter
Payments of mortgage debt and other loans	`RepaymentsOfDebt`	$18.35M	USD	1 Quarter
Financing costs	`PaymentsOfFinancingCosts`	$1.47M	USD	1 Quarter
Financing costs	`PaymentsOfFinancingCosts`	$511.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$385.23M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$37.96M	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`	$1.56M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$34.66M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$470.60M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$35.92M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$34.37M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$34.66M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$470.60M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$35.92M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$34.37M	USD	Point-in-time
Interest paid	`InterestPaid`	$18.06M	USD	1 Quarter
Interest paid	`InterestPaid`	$14.70M	USD	1 Quarter
Accrued distribution to common shareholders	`DividendsPayableCurrentAndNoncurrent`	$2.23M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.56M	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`	$5.78M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, beginning of period	`RestrictedCashAndCashEquivalents`	$30.15M	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`	$28.81M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, beginning of period	`RestrictedCashAndCashEquivalents`	$33.34M	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, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$470.60M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.92M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$34.37M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.56M	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`	$5.78M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, end of period	`RestrictedCashAndCashEquivalents`	$30.15M	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`	$28.81M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, end of period	`RestrictedCashAndCashEquivalents`	$33.34M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end 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`	$35.92M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$34.37M	USD	Point-in-time

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Distributions declared to shareholders	`CommonStockDividendsPerShareDeclared`	$0.20	USD	1 Quarter
Distributions declared to shareholders	`CommonStockDividendsPerShareDeclared`	$0.01	USD	1 Quarter
Balance	`StockholdersEquity`	$3.29B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.00B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.03B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.19B	USD	Point-in-time
Share based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$8.01M	USD	1 Quarter
Share based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$5.00M	USD	1 Quarter
Common shares repurchased	`StockRepurchasedAndRetiredDuringPeriodValue`	$14.34M	USD	1 Quarter
Common shares repurchased (in Shares)	`StockRepurchasedAndRetiredDuringPeriodShares`	1.50M	shares	1 Quarter
Equity issuance costs	`EquityIssuanceCosts`	$1.00K	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$-42.17M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$16.08M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-46.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.77M	USD	1 Quarter
Distributions declared to shareholders	`DividendsCommonStock`	$44.95M	USD	1 Quarter
Distributions declared to shareholders	`DividendsCommonStock`	$2.23M	USD	1 Quarter
Balance	`StockholdersEquity`	$3.29B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.00B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.03B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.19B	USD	Point-in-time

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