XML 23 R8.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net (loss) income $ (2,408,287) $ (556,092) $ 903,819
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 453,749 616,127 345,577
Amortization of deferred financing costs and debt discount 17,348 15,775 17,045
Straight-line rent revenue and other (172,765) (233,703) (282,504)
Stock / (Unit)-based compensation expense 32,976 33,250 49,421
(Gain) loss on sale of real estate (478,693) 1,815 (536,755)
Real estate and other impairment charges, net 1,825,402 376,907 268,375
Equity interest real estate impairment 410,790    
Straight-line rent and other write-off 2,514 649,911 34,605
Debt refinancing and unutilized financing (benefit) costs 4,292 (285) 9,452
Tax rate changes and other 5,119 (167,332) 10,697
Non-cash fair value adjustments 563,666 (34,157) (3,097)
Non-cash revenue from debt and equity securities received   (81,706)  
Other adjustments 4,975 10,287 9,205
Changes in:      
Interest and rent receivables 2,778 (141,729) (116,420)
Other assets (36,109) 13,750 (4,029)
Accounts payable and accrued expenses 23,481 (4,599) 33,576
Deferred revenue (5,753) 7,567 43
Net cash provided by operating activities 245,483 505,786 739,010
Investing activities      
Cash paid for acquisitions and other related investments (105,618) (235,187) (1,332,962)
Net proceeds from sale of real estate 1,854,077 897,500 2,185,574
Principal received from sale and repayment of loans receivable 214,416 501,630 53,322
Investment in loans receivable (420,324) (250,223) (207,542)
Construction in progress and other (79,788) (114,425) (109,237)
Proceeds from sale and return of equity investments 11,656 12,430 14,295
Capital additions and other investments, net (156,078) (294,167) (207,394)
Net cash provided by investing activities 1,318,341 517,558 396,056
Financing activities      
Proceeds from term debt 804,188   128,536
Payments of term debt (701,809) (988,162) (869,606)
Revolving credit facilities, net (1,131,312) 567,910 203,576
Dividends / Distribution paid (321,080) (615,390) (698,535)
Lease deposits and other obligations to tenants 2,237 10,139 (5,020)
Repurchase of common stock / unit     (17,940)
Stock / Unit vesting - satisfaction of tax withholdings (3,805) (8,079) (29,922)
Other financing activities, Payment of debt refinancing and deferred financing costs (127,798) 13,255 (53,612)
Net cash used for financing activities (1,479,379) (1,020,327) (1,342,523)
Increase (decrease) in cash, cash equivalents, and restricted cash for the year 84,445 3,017 (207,457)
Effect of exchange rate changes (5,224) 11,397 (12,887)
Cash, cash equivalents, and restricted cash at beginning of year 255,952 241,538 461,882
Cash, cash equivalents, and restricted cash at end of year 335,173 255,952 241,538
Interest paid, including capitalized interest of $7,642 in 2024, $14,178 in 2023, and $6,454 in 2022 420,315 406,141 353,838
Supplemental schedule of non-cash investing activities:      
Debt and equity securities received for certain obligations, real estate, and revenue   804,520  
Certain obligations and receivable satisfied and real estate sold   722,814  
Supplemental schedule of non-cash financing activities:      
Dividends declared, unpaid 48,164 92,808 176,580
Cash, cash equivalents, and restricted cash are comprised of the following:      
Cash and cash equivalents at beginning of period 250,016 235,668 459,227
Restricted cash, included in Other assets at beginning of period $ 5,936 $ 5,870 $ 2,655
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] Other Assets Other Assets Other Assets
Cash, cash equivalents, and restricted cash at beginning of year $ 335,173 $ 255,952 $ 241,538
Cash and cash equivalents at end of period 332,335 250,016 235,668
Restricted cash, included in Other assets at end of period $ 2,838 $ 5,936 $ 5,870
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] Other Assets Other Assets Other Assets
Cash, cash equivalents, and restricted cash at end of year $ 335,173 $ 255,952 $ 241,538
MPT Operating Partnership, L.P. [Member]      
Operating activities      
Net (loss) income (2,408,287) (556,092) 903,819
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 453,749 616,127 345,577
Amortization of deferred financing costs and debt discount 17,348 15,775 17,045
Straight-line rent revenue and other (172,765) (233,703) (282,504)
Stock / (Unit)-based compensation expense 32,976 33,250 49,421
(Gain) loss on sale of real estate (478,693) 1,815 (536,755)
Real estate and other impairment charges, net 1,825,402 376,907 268,375
Equity interest real estate impairment 410,790    
Straight-line rent and other write-off 2,514 649,911 34,605
Debt refinancing and unutilized financing (benefit) costs 4,292 (285) 9,452
Tax rate changes and other 5,119 (167,332) 10,697
Non-cash fair value adjustments 563,666 (34,157) (3,097)
Non-cash revenue from debt and equity securities received   (81,706)  
Other adjustments 4,975 10,287 9,205
Changes in:      
Interest and rent receivables 2,778 (141,729) (116,420)
Other assets (36,109) 13,750 (4,029)
Accounts payable and accrued expenses 23,481 (4,599) 33,576
Deferred revenue (5,753) 7,567 43
Net cash provided by operating activities 245,483 505,786 739,010
Investing activities      
Cash paid for acquisitions and other related investments (105,618) (235,187) (1,332,962)
Net proceeds from sale of real estate 1,854,077 897,500 2,185,574
Principal received from sale and repayment of loans receivable 214,416 501,630 53,322
Investment in loans receivable (420,324) (250,223) (207,542)
Construction in progress and other (79,788) (114,425) (109,237)
Proceeds from sale and return of equity investments 11,656 12,430 14,295
Capital additions and other investments, net (156,078) (294,167) (207,394)
Net cash provided by investing activities 1,318,341 517,558 396,056
Financing activities      
Proceeds from term debt 804,188   128,536
Payments of term debt (701,809) (988,162) (869,606)
Revolving credit facilities, net (1,131,312) 567,910 203,576
Dividends / Distribution paid (321,080) (615,390) (698,535)
Lease deposits and other obligations to tenants 2,237 10,139 (5,020)
Repurchase of common stock / unit     (17,940)
Stock / Unit vesting - satisfaction of tax withholdings (3,805) (8,079) (29,922)
Other financing activities, Payment of debt refinancing and deferred financing costs (127,798) 13,255 (53,612)
Net cash used for financing activities (1,479,379) (1,020,327) (1,342,523)
Increase (decrease) in cash, cash equivalents, and restricted cash for the year 84,445 3,017 (207,457)
Effect of exchange rate changes (5,224) 11,397 (12,887)
Cash, cash equivalents, and restricted cash at beginning of year 255,952 241,538 461,882
Cash, cash equivalents, and restricted cash at end of year 335,173 255,952 241,538
Interest paid, including capitalized interest of $7,642 in 2024, $14,178 in 2023, and $6,454 in 2022 420,315 406,141 353,838
Supplemental schedule of non-cash investing activities:      
Debt and equity securities received for certain obligations, real estate, and revenue   804,520  
Certain obligations and receivable satisfied and real estate sold   722,814  
Supplemental schedule of non-cash financing activities:      
Dividends declared, unpaid 48,164 92,808 176,580
Cash, cash equivalents, and restricted cash are comprised of the following:      
Cash and cash equivalents at beginning of period 250,016 235,668 459,227
Restricted cash, included in Other assets at beginning of period $ 5,936 $ 5,870 $ 2,655
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] Other Assets Other Assets Other Assets
Cash, cash equivalents, and restricted cash at beginning of year $ 335,173 $ 255,952 $ 241,538
Cash and cash equivalents at end of period 332,335 250,016 235,668
Restricted cash, included in Other assets at end of period $ 2,838 $ 5,936 $ 5,870
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] Other Assets Other Assets Other Assets
Cash, cash equivalents, and restricted cash at end of year $ 335,173 $ 255,952 $ 241,538