Apple hospitality reit, inc (APLE)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net income (loss)

130,997

171,917

180,616

196,515

202,055

206,086

169,631

170,333

190,309

182,492

226,349

177,219

144,331

144,652

85,306

118,580

108,107

117,288

157,414

145,608

145,162

6,833

41,115

24,118

3,854

115,222

71,738

71,500

70,523

75,476

76,225

79,060

76,898

69,988

0

0

0

Adjustments to reconcile net income (loss) to cash provided by operating activities:
Depreciation and amortization

194,812

193,240

190,676

188,958

186,592

183,482

181,481

179,422

177,572

176,499

175,282

168,515

158,446

148,163

137,895

132,903

130,214

127,449

125,909

124,653

124,272

113,112

95,370

78,007

60,886

54,827

54,275

53,872

53,405

52,748

0

0

0

-

-

-

-

Loss on impairment of depreciable real estate assets

-

-

-

-

-

-

-

-

-

45,900

7,875

13,346

13,346

5,471

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of real estate

12,647

5,021

1,204

1,204

1,365

152

0

0

0

-

-

-

-

-

-

-

-

15,286

15,358

15,358

15,629

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Series B convertible preferred share expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

117,133

117,133

117,133

117,133

0

0

0

0

-

-

-

-

-

-

-

-

Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

Straight-line rental income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,508

5,040

9,236

6,158

0

0

0

Depreciation, including discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

49,815

0

0

0

Other non-cash expenses, net

-5,107

-4,520

-4,897

-6,617

-7,166

-7,972

-7,738

-7,496

-7,263

-7,120

-7,313

-7,131

-7,021

-6,747

-5,823

-5,260

-5,071

-6,015

-4,982

-3,865

-3,413

-1,117

-1,183

-1,339

-487

-314

0

0

0

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Decrease (increase) in due from third party managers, net

-29,358

-2,221

-7,544

-9,472

-5,696

-2,027

-4,027

4,319

-319

-17

1,369

692

2,774

-5,164

657

3,237

3,653

1,827

4,145

1,152

1,652

-1,931

4,010

7,671

5,563

-330

734

892

-1,005

1,146

1,153

1,398

17,879

1,326

0

0

0

Decrease (increase) in other assets, net

-1,963

821

1,055

1,415

632

772

899

-474

595

-11,235

1,731

2,165

2,550

10,775

-2,974

-324

-2,705

644

2,032

1,283

2,525

1,486

3,194

1,920

1,446

-369

-92

183

-413

588

127

336

313

-612

0

0

0

Decrease in accounts payable and other liabilities

2,716

9,151

11,509

3,573

5,545

3,034

-1,882

1,115

4,196

-22,872

-24,657

2,072

-1,441

31,596

31,977

2,003

7,811

3,057

4,075

3,710

1,545

2,559

649

-2,442

-5,024

-310

1,383

467

435

-1,853

-168

25

-803

2,759

0

0

0

Net cash provided by operating activities

358,773

381,674

399,450

402,516

408,192

404,812

400,919

395,501

400,769

384,071

373,232

349,439

316,532

331,171

313,861

300,905

295,598

281,052

273,233

271,031

265,574

252,187

223,540

175,258

137,021

137,446

127,058

125,036

125,660

122,966

123,537

123,783

118,777

116,044

0

0

0

Cash flows from investing activities:
Acquisition of hotel properties, net

6,848

59,424

67,964

68,164

141,708

150,746

241,298

279,936

206,386

162,903

115,128

100,459

100,459

82,328

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

161,645

0

0

0

Deposits and other disbursements for potential acquisitions

869

1,229

1,529

1,121

693

537

86

1,721

1,563

1,359

2,320

7

371

510

-567

741

702

563

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

760

0

0

0

Capital improvements

80,695

74,896

73,232

73,984

70,844

74,293

74,604

73,518

70,516

63,305

58,975

58,506

60,258

65,128

69,729

68,571

65,785

62,260

59,805

68,339

75,006

67,990

59,374

44,509

30,985

22,505

14,376

14,146

15,152

16,526

16,772

14,925

12,923

15,734

0

0

0

Decrease (increase) in capital improvement reserves

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,559

-3,091

-6,201

-8,451

-8,921

-9,255

-7,588

-3,938

-2,643

-1,851

58

-68

-734

-1,381

-1,367

-569

-246

53

114

126

0

0

0

Net proceeds from sale of real estate

70,469

121,225

100,645

110,445

110,559

15,416

0

0

0

-

-

-

-

-

-

-

-

205,165

205,154

203,504

205,367

5,648

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from sale of other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Payments received on note receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

55,485

6,300

6,825

6,090

4,515

0

0

0

-

-

-

-

Net cash provided by investing activities

-17,943

-14,324

-42,080

-32,824

-102,686

-210,160

-265,251

-314,395

-209,154

-158,256

-71,152

-146,286

-176,908

-162,200

-203,065

-254,664

-290,052

-82,285

-60,049

101,121

137,949

-58,404

-347

15,296

17,399

25,446

-14,922

-16,704

109,698

105,951

88,757

92,777

-77,402

-166,085

0

0

0

Net proceeds (disbursements) related to issuance of common shares

-

-

-

-

-

4,677

137,670

137,670

137,724

132,993

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

21,919

33,546

45,726

47,762

50,007

0

0

0

-

-

-

0

Repurchases of common shares

14,575

4,335

104,335

104,096

104,096

104,304

4,304

4,304

4,304

0

7,508

7,508

7,508

7,869

1,210

22,506

227,101

237,567

236,718

215,422

13,176

2,349

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Repurchases of common shares to satisfy employee withholding requirements

1,834

577

1,140

1,140

1,140

1,525

1,136

1,136

1,136

692

1,432

1,432

1,432

1,459

459

459

459

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Redemptions of Units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

57,887

63,992

51,910

39,168

0

0

0

Distributions paid to common shareholders

268,808

268,672

270,124

272,031

273,936

275,892

274,466

272,310

270,153

267,917

267,832

258,154

243,604

229,056

214,253

209,602

218,070

229,127

240,364

250,091

250,963

233,412

207,802

183,438

159,608

151,586

151,462

151,301

152,720

154,980

157,322

159,741

160,589

160,399

0

0

0

Proceeds from term loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

38,000

65,000

37,000

27,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from existing revolving credit facility

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Net proceeds from (payments on) revolving credit facility

234,600

-217,900

-21,900

157,300

126,600

268,800

0

0

0

-

-

-

-

44,100

226,600

58,300

171,900

23,200

-99,500

-79,500

-150,500

91,600

153,000

159,000

143,800

0

22,000

17,800

6,700

0

0

0

0

-

-

-

-

Net payments on extinguished revolving credit facility

-

-

-

-

-

106,900

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

129,490

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from term loans and senior notes

135,000

160,000

75,000

650,000

650,000

575,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from mortgage debt

63,400

0

0

0

0

44,000

74,000

74,000

74,000

30,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of mortgage debt

48,745

33,806

33,804

33,801

13,145

12,663

12,028

11,398

10,904

39,920

87,090

155,403

205,803

207,694

179,494

133,742

125,159

111,218

92,589

98,422

78,389

60,331

58,243

28,137

4,616

3,713

0

0

0

-

-

-

-

-

-

-

-

Payments of notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

32,525

4,437

3,305

2,200

0

0

0

Financing costs

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

7,055

6,908

7,022

590

4,903

5,450

5,325

5,251

445

370

554

718

728

358

177

322

410

0

0

0

Net cash provided by (used in) financing activities

97,496

-366,321

-356,571

-368,772

-304,675

-190,811

-131,479

-77,071

-187,486

-225,449

-294,432

-219,174

-134,966

-162,197

-110,901

-24,627

-52,451

-198,767

-213,079

-372,957

-356,618

-211,885

-223,193

-189,749

-154,420

-153,817

-131,649

-115,720

-238,202

-250,623

-254,183

-276,863

-156,111

-143,334

0

0

0

Net change in cash, cash equivalents and restricted cash

438,326

1,029

799

920

831

3,841

4,189

4,035

4,129

366

7,648

-16,021

4,658

6,774

-105

21,614

-46,905

0

105

-805

46,905

-18,102

0

805

0

9,075

-19,513

-7,388

-2,844

-21,706

-41,889

-60,303

-114,736

-193,375

0

0

0

Supplemental cash flow information:
Interest paid

59,164

59,877

58,357

56,359

53,961

50,312

49,345

47,801

46,790

46,885

46,741

45,796

43,937

41,884

39,981

38,736

36,758

35,019

33,373

32,658

33,454

29,671

24,024

17,859

11,641

9,721

0

0

0

-

-

-

-

-

-

-

-

Supplemental disclosure of noncash investing and financing activities:
Conversion of Series B convertible preferred shares to common shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

117,133

117,133

117,133

117,133

0

0

0

0

-

-

-

-

-

-

-

-

Mortgage debt assumed in acquisition of hotel properties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25,942

0

0

0

Stock consideration in Apple Ten merger (see note 2)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,814,613

1,814,613

1,814,613

0

0

0

0

-

-

-

-

-

-

-

-