10-Q Filing

APPLE HOSPITALITY REIT, INC. CIK: 1418121 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001564590-22-018268`
Period End Date	20220331
Filing Date	20220505
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	aple-10q_20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 34 Cash Flow Statement 78 Stockholders Equity 20

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Investment in real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$1.36B	USD	Point-in-time
Investment in real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$1.31B	USD	Point-in-time
Investment in real estate, net of accumulated depreciation and amortization of $1,356,580 and $1,311,262, respectively	`RealEstateInvestmentPropertyNet`	$4.64B	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 $1,356,580 and $1,311,262, respectively	`RealEstateInvestmentPropertyNet`	$4.68B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.28M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.78M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$636.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	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
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$30.15M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$36.67M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$40.57M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedCashAndCashEquivalents`	$28.81M	USD	Point-in-time
Due from third party managers, net	`DueFromManagers`	$60.56M	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
Due from third party managers, net	`DueFromManagers`	$40.05M	USD	Point-in-time
Other assets, net	`OtherAssets`	$33.34M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	228.26M	shares	Point-in-time
Other assets, net	`OtherAssets`	$49.34M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	228.89M	shares	Point-in-time
Total Assets	`Assets`	$4.79B	USD	Point-in-time
Total Assets	`Assets`	$4.79B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	228.89M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	228.26M	shares	Point-in-time
Debt, net	`LongTermDebt`	$1.43B	USD	Point-in-time
Debt, net	`LongTermDebt`	$1.44B	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiability`	$111.78M	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiability`	$111.85M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$92.67M	USD	Point-in-time
Accounts payable and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$66.95M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.64B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.61B	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 228,888,561 and 228,255,642 shares, respectively	`CommonStockValue`	$4.58B	USD	Point-in-time
Common stock, no par value, authorized 800,000,000 shares; issued and outstanding 228,888,561 and 228,255,642 shares, respectively	`CommonStockValue`	$4.57B	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$11.71M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-15.51M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$1.41B	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$1.41B	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.18B	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.15B	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 Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.79B	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.79B	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`	$260.48M	USD	1 Quarter
Total hotel operating expense	`CostOfGoodsAndServicesSold`	$103.74M	USD	1 Quarter
Total hotel operating expense	`CostOfGoodsAndServicesSold`	$154.00M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$18.68M	USD	1 Quarter
Property taxes, insurance and other	`RealEstateTaxesAndInsurance`	$19.69M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.12M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$9.64M	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`	$45.32M	USD	1 Quarter
Total expense	`CostsAndExpenses`	$227.64M	USD	1 Quarter
Total expense	`CostsAndExpenses`	$191.01M	USD	1 Quarter
Gain on sale of real estate	`GainLossOnDispositionOfAssets1`	-	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`	$32.84M	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-14.65M	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-18.51M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-46.33M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$18.18M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$179.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$108.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$18.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-46.44M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$16.08M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$27.22M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-30.35M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$45.22M	USD	1 Quarter
Basic and diluted net income (loss) per common share	`EarningsPerShareBasicAndDiluted`	$0.08	USD	1 Quarter
Basic and diluted net income (loss) per common share	`EarningsPerShareBasicAndDiluted`	$-0.21	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	223.73M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	228.99M	shares	1 Quarter

Cash Flow Statement 78 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$18.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-46.44M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$48.71M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$45.32M	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`	-	USD	1 Quarter
Gain on sale of real estate	`GainLossOnDispositionOfAssets1`	$4.48M	USD	1 Quarter
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-2.17M	USD	1 Quarter
Other non-cash expenses, net	`OtherNoncashIncomeExpense`	$-2.68M	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$20.51M	USD	1 Quarter
Increase in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManagers`	$16.63M	USD	1 Quarter
Decrease (increase) in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$-1.03M	USD	1 Quarter
Decrease (increase) in other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$3.31M	USD	1 Quarter
Increase (decrease) in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.62M	USD	1 Quarter
Increase (decrease) in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.26M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$39.06M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.11M	USD	1 Quarter
Acquisition of hotel properties, net	`PaymentsToAcquireCommercialRealEstate`	$49.37M	USD	1 Quarter
Capital improvements	`PaymentsForCapitalImprovements`	$13.59M	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 cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-34.29M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.59M	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`	$4.42M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$13.70M	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	-	USD	1 Quarter
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$11.40M	USD	Point-in-time
Equity issuance costs	`PaymentsOfStockIssuanceCosts`	$1.00K	USD	1 Quarter
Equity issuance costs	`PaymentsOfStockIssuanceCosts`	$23.00K	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$44.10M	USD	1 Quarter
Net proceeds from revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$500.00K	USD	1 Quarter
Payments of mortgage debt and other loans	`RepaymentsOfDebt`	$3.02M	USD	1 Quarter
Payments of mortgage debt and other loans	`RepaymentsOfDebt`	$6.56M	USD	1 Quarter
Principal payments on finance leases	`FinanceLeasePrincipalPayments`	$27.00K	USD	1 Quarter
Financing costs	`PaymentsOfFinancingCosts`	$1.47M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$37.96M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-24.22M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.56M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.25M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$41.20M	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`	$39.95M	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`	$41.20M	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`	$39.95M	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`	$13.85M	USD	1 Quarter
Accrued distribution to common shareholders	`DividendsPayableCurrentAndNoncurrent`	$2.23M	USD	Point-in-time
Accrued distribution to common shareholders	`DividendsPayableCurrentAndNoncurrent`	$2.30M	USD	Point-in-time
Accrued distribution to common shareholders	`DividendsPayableCurrentAndNoncurrent`	$11.42M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.28M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.78M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$636.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.56M	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`	$36.67M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, beginning of period	`RestrictedCashAndCashEquivalents`	$40.57M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, beginning of period	`RestrictedCashAndCashEquivalents`	$28.81M	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`	$41.20M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$39.95M	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`	$3.28M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.78M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$636.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.56M	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`	$36.67M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, end of period	`RestrictedCashAndCashEquivalents`	$40.57M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows, end of period	`RestrictedCashAndCashEquivalents`	$28.81M	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`	$41.20M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$39.95M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$34.37M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Distributions declared to shareholders	`CommonStockDividendsPerShareDeclared`	$0.10	USD	1 Quarter
Distributions declared to shareholders	`CommonStockDividendsPerShareDeclared`	$0.01	USD	1 Quarter
Balance	`StockholdersEquity`	$3.18B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.15B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.00B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.03B	USD	Point-in-time
Share based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$5.00M	USD	1 Quarter
Share based compensation, net	`StockIssuedDuringPeriodValueShareBasedCompensation`	$9.59M	USD	1 Quarter
Equity issuance costs	`EquityIssuanceCosts`	$1.00K	USD	1 Quarter
Equity issuance costs	`EquityIssuanceCosts`	$186.00K	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$16.08M	USD	1 Quarter
Interest rate derivatives	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$27.22M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$18.00M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-46.44M	USD	1 Quarter
Distributions declared to shareholders	`DividendsCommonStock`	$22.84M	USD	1 Quarter
Distributions declared to shareholders	`DividendsCommonStock`	$2.23M	USD	1 Quarter
Balance	`StockholdersEquity`	$3.18B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.15B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.00B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.03B	USD	Point-in-time

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