Condensed Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2011

Condensed Consolidating Financial Information [Abstract]

Condensed Consolidated Balance Sheets

December 31, 2011

(in thousands)


	Parent		Subsidiary Issuers		Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Assets
Real estate assets
Land, buildings and improvements and intangible lease assets	$	—	$	37	$	1,173,909		$	101,453		$	—		$	1,275,399
Mortgage loans		—		—		165,000			—			—			165,000

Gross investment in real estate assets		—		37		1,338,909			101,453			—			1,440,399
Accumulated depreciation and amortization		—		—		(94,068	)		(9,669	)		—			(103,737	)

Net investment in real estate assets		—		37		1,244,841			91,784			—			1,336,662
Cash & cash equivalents		—		101,230		—			1,496			—			102,726
Interest and rent receivables		—		399		22,525			6,938			—			29,862
Straight-line rent receivables		—		—		28,317			5,676			—			33,993
Other loans		—		177		—			74,662			—			74,839
Net intercompany receivable (payable)		21,955		872,463		(891,920	)		(2,415	)		(83	)		—
Investment in subsidiaries		829,218		489,761		—			—			(1,318,979	)		—
Other assets		—		27,284		1,727			14,781			—			43,792

Total Assets	$	851,173	$	1,491,351	$	405,490		$	192,922		$	(1,319,062	)	$	1,621,874

Liabilities and Equity
Liabilities
Debt, net	$	—	$	635,820	$	—		$	54,029		$	—		$	689,849
Accounts payable and accrued expenses		22,359		25,769		2,576			421			—			51,125
Deferred revenue		—		559		17,531			5,217			—			23,307
Lease deposits and other obligations to tenants		—		—		28,274			504			—			28,778

Total liabilities		22,359		662,148		48,381			60,171			—			793,059
Total Medical Properties Trust Inc. stockholder's equity		828,815		829,205		357,109			132,749			(1,319,062	)		828,815

Non-controlling interests		—		—		—			—			—			—

Total equity		828,815		829,205		357,109			132,749			(1,319,062	)		828,815

Total Liabilities and Equity	$	851,174	$	1,491,353	$	405,490		$	192,920		$	(1,319,062	)	$	1,621,874

Condensed Consolidated Balance Sheets

December 31, 2010

(in thousands)


	Parent		Subsidiary Issuers		Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Assets
Real estate assets
Land, buildings and improvements and intangible lease assets	$	—	$	297	$	908,066		$	82,185		$	—		$	990,548
Real estate held for sale		—		—		—			37,514			—			37,514
Mortgage loans		—		—		165,000			—			—			165,000

Gross investment in real estate assets		—		297		1,073,066			119,699			—			1,193,062
Accumulated depreciation and amortization		—		—		(64,553	)		(7,234	)		—			(71,787	)

Net investment in real estate assets		—		297		1,008,513			112,465			—			1,121,275
Cash & cash equivalents		—		96,822		—			1,586			—			98,408
Interest and rent receivables		—		157		20,692			5,327			—			26,176
Straight-line rent receivables		—		—		23,174			5,738			—			28,912
Other loans		—		178		—			50,807			—			50,985
Net intercompany receivable (payable)		21,944		774,771		(751,068	)		(45,647	)		—			—
Investment in subsidiaries		899,949		390,232		—			—			(1,290,181	)		—
Other assets		—		10,289		1,182			11,587			—			23,058

Total Assets	$	921,893	$	1,272,746	$	302,493		$	141,863		$	(1,290,181	)	$	1,348,814

Liabilities and Equity
Liabilities
Debt, net	$	—	$	361,537	$	—		$	8,433		$	—		$	369,970
Accounts payable and accrued expenses		22,317		10,824		2,378			455			—			35,974
Deferred revenue		—		436		17,662			5,039			—			23,137
Lease deposits and other obligations to tenants		—		—		17,326			2,831			—			20,157

Total liabilities		22,317		372,797		37,366			16,758			—			449,238
Total Medical Properties Trust Inc. stockholder's equity		899,462		899,835		265,127			125,105			(1,290,067	)		899,462

Non-controlling interests		114		114		—			—			(114	)		114

Total equity		899,576		899,949		265,127			125,105			(1,290,181	)		899,576

Total Liabilities and Equity	$	921,893	$	1,272,746	$	302,493		$	141,863		$	(1,290,181	)	$	1,348,814

Condensed Consolidated Statements Of Income

Condensed Consolidated Statements of Income

For the Year Ended December 31, 2011

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors		Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Revenues
Rent billed	$	—		$	—		$	105,345	$	13,782		$	(3,092	)	$	116,035
Straight-line rent		—			—			4,734		1,060			—			5,794
Interest and fee income		—			6,123			17,004		4,598			(6,235	)		21,490

Total revenues		—			6,123			127,083		19,440			(9,327	)		143,319
Expenses
Real estate depreciation and amortization		—			—			30,465		2,436			—			32,901
Impairment charge		—			—			564		—			—			564
Property-related		—			217			1,848		3,117			(3,092	)		1,090
General and administrative		17			27,626			—		3,760			—			31,403

Total operating expenses		17			27,843			31,877		9,313			(3,092	)		65,958

Operating income		(17	)		(21,720	)		95,206		10,127			(6,235	)		77,361
Other income (expense)
Interest income and other		—			26			335		(265	)		—			96
Debt refinancing costs		—			(14,109	)		—		(105	)		—			(14,214	)
Interest expense		—			(43,031	)		849		(7,865	)		6,235			(43,812	)

Net other expense		—			(57,114	)		1,184		(8,235	)		6,235			(57,930	)

Income (loss) from continuing operations		(17	)		(78,834	)		96,390		1,892			—			19,431
Income (loss) from discontinued operations		—			—			98		7,185			—			7,283

Equity in earnings of consolidated subsidiaries net of income taxes		31,223			105,566			4,578		—			(141,367	)		—

Net income		31,206			26,732			101,066		9,077			(141,367	)		26,714
Net income attributable to non-controlling interests		(178	)		(178	)		—		—			178			(178	)

Net income attributable to MPT common stockholders	$	31,028		$	26,554		$	101,066	$	9,077		$	(141,189	)	$	26,536

Condensed Consolidated Statements of Income

For the Year Ended December 31, 2010

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Revenues
Rent billed	$	—		$	—		$	78,055		$	11,462		$	(1,030	)	$	88,487
Straight-line rent		—			—			1,256			677			—			1,933
Interest and fee income		—			6,964			16,758			10,569			(7,514	)		26,777

Total revenues		—			6,964			96,069			22,708			(8,544	)		117,197
Expenses
Real estate depreciation and amortization		—			—			20,434			2,396			—			22,830
Impairment charge		—			—			—			12,000			—			12,000
Property-related		—			(4	)		4,375			1,057			(1,030	)		4,398
General and administrative		75			27,867			—			593			—			28,535

Total operating expenses		75			27,863			24,809			16,046			(1,030	)		67,763

Operating income		(75	)		(20,899	)		71,260			6,662			(7,514	)		49,434
Other income (expense)
Interest income and other		—			(14	)		(10	)		1,542			—			1,518
Debt refinancing costs		—			(6,716	)		—			—			—			(6,716	)
Interest expense		—			(33,623	)		31			(7,910	)		7,514			(33,988	)

Net other expense		—			(40,353	)		21			(6,368	)		7,514			(39,186	)

Income (loss) from continuing operations		(75	)		(61,252	)		71,281			294			—			10,248
Income (loss) from discontinued operations		—			—			121			12,643			—			12,764

Equity in earnings of consolidated subsidiaries net of income taxes		23,087			84,339			4,273			—			(111,699	)		—

Net income		23,012			23,087			75,675			12,937			(111,699	)		23,012
Net income attributable to non-controlling interests		(99	)		(99	)		—			—			99			(99	)

Net income attributable to MPT common stockholders	$	22,913		$	22,988		$	75,675		$	12,937		$	(111,600	)	$	22,913

Condensed Consolidated Statements of Income

For the Year Ended December 31, 2009

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Revenues
Rent billed	$	—		$	—		$	67,159		$	10,712		$	—		$	77,871
Straight-line rent		—			—			7,113			925			—			8,038
Interest and fee income		—			10,010			14,389			14,149			(10,419	)		28,129

Total revenues		—			10,010			88,662			25,785			(10,419	)		114,038
Expenses
Real estate depreciation and amortization		—			—			19,019			2,569			—			21,588
Impairment charge		—			—			—			—			—			—
Property-related		—			(20	)		3,783			38			—			3,801
General and administrative		63			20,631			—			402			—			21,096

Total operating expenses		63			20,611			22,802			3,009			—			46,485

Operating income		(63	)		(10,601	)		65,860			22,776			(10,419	)		67,553
Other income (expense)
Interest income and other		—			51			(10	)		2			—			43
Debt refinancing costs		—			—			—			—			—			—
Interest expense		—			(36,760	)		—			(11,310	)		10,419			(37,651	)

Net other income (expense)		—			(36,709	)		(10	)		(11,308	)		10,419			(37,608	)

Income (loss) from continuing operations		(63	)		(47,310	)		65,850			11,468			—			29,945
Income (loss) from discontinued operations		—			—			(1,254	)		7,676			—			6,422

Equity in earnings of consolidated subsidiaries net of income taxes		36,430			83,741			3,918			—			(124,089	)		—

Net income		36,367			36,430			68,514			19,144			(124,089	)		36,367
Net income attributable to non-controlling interests		(37	)		(37	)		—			—			37			(37	)

Net income attributable to MPT common stockholders	$	36,330		$	36,394		$	68,514		$	19,144		$	(124,052	)	$	36,330

Condensed Consolidated Statements Of Cash Flows

Condensed Consolidated Statements of Cash Flows

For the Year Ended December 31, 2011

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Operating Activities
Net cash provided by (used in) operating activities	$	(209	)	$	(48,779	)	$	113,907		$	14,351		$	—		$	79,270
Investing Activities
Real estate acquired		—			—			(241,626	)		—			—			(246,511	)
Principal received on loans receivable		—			—			230			4,059			—			4,289
Proceeds from sales of real estate		—			—			—			41,130			—			41,130
Investments in and advances to subsidiaries		89,551			(92,052	)		140,852			(49,009	)		(89,342	)		—
Investments in loans receivable and other investments		—			—			(230	)		(27,914	)		—			(28,144	)
Construction in progress and other		—			(6,466	)		(24,081	)		(5,838	)		—			(36,385	)

Net cash provided by (used in) investing activities		89,551			(98,518	)		(124,855	)		(42,457	)		(89,342	)		(265,621	)

Financing Activities
Revolving credit facilities, net		—			50,000			—			39,600			—			89,600
Proceeds from term debt, net of discount		—			450,000			—			—			—			450,000
Payments of term debt		—			(237,666	)		—			(8,596	)		—			(246,262	)
Distributions paid		(89,342	)		(89,601	)		—			—			89,342			(89,601	)
Proceeds from sale of common shares/units, net of offering costs		—			—			—			—			—			—
Lease deposits and other obligations to tenants		—			—			10,948			(2,327	)		—			8,621
Debt issuance costs paid and other financing activities		—			(21,028	)		—			(661	)		—			(21,689	)

Net cash provided by (used in) financing activities		(89,342	)		151,705			10,948			(28,016	)		89,342			190,669

Increase (decrease) in cash and cash equivalents for period		—			4,408			—			(90	)		—			4,318
Cash and cash equivalents at beginning of period		—			96,822			—			1,586			—			98,408

Cash and cash equivalents at end of period	$	—		$	101,230		$	—		$	1,496		$	—		$	102,726

Condensed Consolidated Statements of Cash Flows

For the Year Ended December 31, 2010

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Operating Activities
Net cash provided by (used in) operating activities	$	(29	)	$	(54,909	)	$	95,203		$	20,372		$	—		$	60,637
Investing Activities
Real estate acquired		—			—			(137,808	)		—			—			(137,808	)
Principal received on loans receivable		—			—			—			90,486			—			90,486
Proceeds from sales of real estate		—			—			2,669			95,000			—			97,669
Investments in and advances to subsidiaries		(211,181	)		99,564			48,986			(148,579	)		211,210			—
Investments in loans receivable and other investments		—			—			(5,000	)		(6,637	)		—			(11,637	)
Construction in progress and other		—			(108	)		(8,267	)		(7,554	)		—			(15,929	)

Net cash provided by (used in) investing activities		(211,181	)		99,456			(99,420	)		22,716			211,210			22,781

Financing Activities
Revolving credit facilities, net		—			(96,000	)		—			(41,200	)		—			(137,200	)
Proceeds from term debt, net of discount		—			148,500			—			—			—			148,500
Payments of term debt		—			(216,520	)		—			(245	)		—			(216,765	)
Distributions paid		(76,856	)		(77,087	)		—			—			76,856			(77,087	)
Proceeds from sale of common shares/units, net of offering costs		288,066			288,066			—			—			(288,066	)		288,066
Lease deposits and other obligations to tenants		—			—			4,217			(550	)		—			3,667
Debt issuance costs paid and other financing activities		—			(9,498	)		—			—			—			(9,498	)

Net cash provided by (used in) financing activities		211,210			37,461			4,217			(41,995	)		(211,210	)		(317	)

Increase in cash and cash equivalents for period		—			82,008			—			1,093			—			83,101
Cash and cash equivalents at beginning of period		—			14,814			—			493			—			15,307

Cash and cash equivalents at end of period	$	—		$	96,822		$	—		$	1,586		$	—		$	98,408

Condensed Consolidated Statements of Cash Flows

For the Year Ended December 31, 2009

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Operating Activities
Net cash provided by (used in) operating activities	$	(268	)	$	(35,554	)	$	76,583		$	21,990		$	—		$	62,751

Investing Activities
Real estate acquired		—			—			(421	)		—			—			(421	)
Principal received on loans receivable		—			—			—			4,305			—			4,305
Proceeds from sales of real estate		—			—			—			15,000			—			15,000
Investments in and advances to subsidiaries		(6,699	)		89,642			(60,656	)		(28,871	)		6,584			—
Investments in loans receivable and other investments		—			—			(15,000	)		(8,243	)		—			(23,243	)
Construction in progress and other		—			—			(3,067	)		(4,710	)		—			(7,777	)

Net cash provided by (used in) investing activities		(6,699	)		89,642			(79,144	)		(22,519	)		6,584			(12,136	)

Financing Activities
Revolving credit facilities, net		—			(55,000	)		—			(800	)		—			(55,800	)
Proceeds from term debt, net of discount		—			—			—			—			—			—
Payments of term debt		—			(960	)		—			(272	)					(1,232	)
Distributions paid		(61,419	)		(61,649	)		—			—			61,419			(61,649	)
Proceeds from sale of common shares/units, net of offering costs		68,003			68,003			—			—			(68,003	)		68,003
Lease deposits and other obligations to tenants		—			—			2,561			829			—			3,390
Debt issuance costs paid and other financing activities		378			(149	)		—			3			—			232

Net cash provided by (used in) financing activities		6,962			(49,755	)		2,561			(240	)		(6,584	)		(47,056	)

Increase in cash and cash equivalents for period		(5	)		4,333			—			(769	)		—			3,559
Cash and cash equivalents at beginning of period		5			10,481			—			1,262			—			11,748

Cash and cash equivalents at end of period	$	—		$	14,814		$	—		$	493		$	—		$	15,307