Condensed Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2012

Condensed Consolidating Financial Information [Abstract]

Summary Of Condensed Consolidated Balance Sheet

Condensed Consolidated Balance Sheet

March 31, 2012

(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	$	—	$	708	$	1,153,464		$	128,201		$	—		$	1,282,373
Mortgage loans		—		—		165,000			100,000			—			265,000
Net investment in direct financing leases		—		—		—			200,285			—			200,285
Gross investment in real estate assets		—		708		1,318,464			428,486			—			1,747,658
Accumulated depreciation and amortization		—		—		(99,789	)		(12,695	)		—			(112,484	)
Net investment in real estate assets				708		1,218,675			415,791			—			1,635,174
Cash & cash equivalents		—		124,850		1,564			86			—			126,500
Interest and rent receivable		—		412		24,562			8,676			—			33,650
Straight-line rent receivable		—		—		25,050			10,443			—			35,493
Other loans		—		177		—			165,030			—			165,207
Net intercompany receivable (payable)		27,121		1,275,634		(864,229	)		(438,526	)		—			—
Investment in subsidiaries		1,035,137		519,209		42,969			—			(1,597,315	)		—
Other assets		—		32,868		1,606			17,964			—			52,438
Total Assets	$	1,062,258	$	1,953,858	$	450,197		$	179,464		$	(1,597,315	)	$	2,048,462
Liabilities and Equity
Liabilities
Debt, net	$	—		885,853	$	—		$	14,372		$	—		$	900,225
Accounts payable and accrued expenses		27,511		32,317		1,862			588			—			62,278
Deferred revenue		—		551		16,782			5,211			—			22,544
Lease deposits and other obligations to tenants		—		—		28,028			640			—			28,668
Total liabilities		27,511		918,721		46,672			20,811			—			1,013,715
Total Medical Properties Trust Inc. stockholder's equity		1,034,747		1,035,137		403,525			158,653			(1,597,315	)		1,034,747
Non-controlling interests		—		—		—			—			—			—
Total equity		1,034,747		1,035,137		403,525			158,653			(1,597,315	)		1,034,747
Total Liabilities and Equity	$	1,062,258	$	1,953,858	$	450,197		$	179,464		$	(1,597,315	)	$	2,048,462

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	$	1,147,161		$	128,201		$	—		$	1,275,399
Mortgage loans		—		—		165,000			—			—			165,000
Gross investment in real estate assets		—		37		1,312,161			128,201			—			1,440,399
Accumulated depreciation and amortization		—		—		(91,822	)		(11,915	)		—			(103,737	)
Net investment in real estate assets		—		37		1,220,339			116,286			—			1,336,662
Cash & cash equivalents		—		101,230		1,409			87			—			102,726
Interest and rent receivables		—		399		22,529			6,934			—			29,862
Straight-line rent receivables		—		—		24,005			9,988			—			33,993
Other loans		—		177		—			74,662			—			74,839
Net intercompany receivable (payable)		21,955		872,382		(889,585	)		(4,752	)		—			—
Investment in subsidiaries		829,205		489,858		43,008			—			(1,362,071	)		—
Other assets		—		27,284		1,727			14,781			—			43,792
Total Assets	$	851,160	$	1,491,367	$	423,432		$	217,986		$	(1,362,071	)	$	1,621,874
Liabilities and Equity
Liabilities
Debt, net	$	—	$	635,820	$	—		$	54,029		$	—		$	689,849
Accounts payable and accrued expenses		22,345		25,783		2,576			421			—			51,125
Deferred revenue		—		559		17,488			5,260			—			23,307
Lease deposits and other obligations to tenants		—		—		27,874			904			—			28,778
Total liabilities		22,345		662,162		47,938			60,614			—			793,059
Total Medical Properties Trust Inc. stockholder's equity		828,815		829,205		375,494			157,372			(1,362,071	)		828,815
Non-controlling interests		—		—		—			—			—			—
Total equity		828,815		829,205		375,494			157,372			(1,362,071	)		828,815
Total Liabilities and Equity	$	851,160	$	1,491,367	$	423,432		$	217,986		$	(1,362,071	)	$	1,621,874

Summary Of Condensed Consolidated Statements Of Income

Condensed Consolidated Statements of Income

For the Three Months Ended March 31, 2012

(in thousands)

	Parent			Subsidiary Issuers			Subsidiary Guarantors		Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Revenues
Rent billed	$	—		$	—		$	28,635	$	5,990		$	(2,460	)	$	32,165
Straight-line rent		—			—			993		456			—			1,449
Income from direct financing leases		—			—			1,653		1,835			(1,653	)		1,835
Interest and fee income		—			2,944			5,035		3,586			(3,623	)		7,942
Total revenues		—			2,944			36,316		11,867			(7,736	)		43,391
Expenses
Real estate depreciation and amortization		—			—			7,966		780			—			8,746
Property-related		—			131			200		4,114			(4,114	)		331
General and administrative		—			6,962			—		630			—			7,592
Acquisition expenses		—			3,425			—		—			—			3,425
Total operating expenses		—			10,518			8,166		5,524			(4,114	)		20,094
Operating income (expense)		—			(7,574	)		28,150		6,343			(3,622	)		23,297
Other income (expense)
Interest income (expense) and other		—			(14	)		—		(2	)		—			(16	)
Interest income (expense)		—			(12,788	)		391		(4,021	)		3,622			(12,796	)
Net other income (expense)		—			(12,802	)		391		(4,023	)		3,622			(12,812	)
Income (loss) from continuing operations		—			(20,376	)		28,541		2,320			—			10,485
Income from discontinued operations		—			—			—		121			—			121
Equity in earnings of consolidated subsidiaries net of income taxes		10,606			30,982			1,121		—			(42,709	)		—
Net income (loss)		10,606			10,606			29,662		2,441			(42,709	)		10,606
Net income attributable to non-controlling interests		(42	)		(42	)		—		—			42			(42	)
Net income (loss) attributable to MPT common stockholders	$	10,564		$	10,564		$	29,662	$	2,441		$	(42,667	)	$	10,564

Condensed Consolidated Statements of Income

For the Three Months Ended March 31, 2011

(in thousands)

	Parent			Subsidiary Issuers			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Revenues
Rent billed	$	—		$	—		$	24,179		$	3,508		$	(332	)	$	27,355
Straight-line rent		—			—			1,247			463			—			1,710
Interest and fee income		—			1,397			4,447			945			(1,507	)		5,282
Total revenues		—			1,397			29,873			4,916			(1,839	)		34,347
Expenses
Real estate depreciation and amortization		—			—			6,833			737			—			7,570
Property-related		—			35			(72	)		427			(332	)		58
General and administrative		16			6,005			—			853			—			6,874
Acquisition expenses		—			1,625			—			415			—			2,040
Total operating expenses		16			7,665			6,761			2,432			(332	)		16,542
Operating income (loss)		(16	)		(6,268	)		23,112			2,484			(1,507	)		17,805
Other income (expense)
Interest income and other		—			(24	)		8			2			—			(14	)
Interest expense		—			(7,968	)		(27	)		(1,651	)		1,507			(8,139	)
Net other income (expense)		—			(7,992	)		(19	)		(1,649	)		1,507			(8,153	)
Income (loss) from continuing operations		(16	)		(14,260	)		23,093			835			—			9,652
Income (loss) from discontinued operations		—			—			—			1,172			—			1,172
Equity in earnings of consolidated subsidiaries net of income taxes		10,840			25,100			1,078			—			(37,018	)		—
Net income (loss)		10,824			10,840			24,171			2,007			(37,018	)		10,824
Net income (loss) attributable to non-controlling interests		(44	)		(44	)		—			—			44			(44	)
Net income attributable to MPT common stockholders	$	10,780		$	10,796		$	24,171		$	2,007		$	(36,974	)	$	10,780

Summary Of Condensed Consolidated Statements Of Cash Flows

Condensed Consolidated Statements of Cash Flows

For the Three Months Ended March 31, 2012

(in thousands)

	Parent			Subsidiary Issuers			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Operating Activities
Net cash provided by (used in) operating activities	$	395		$	(11,062	)	$	32,317		$	1,702		$	—		$	23,352
Investing Activities
Real estate acquired		—			—			(671	)		—			—			(671	)
Principal received on loans receivable		—			—			—			1,184			—			1,184
Investments in and advances to subsidiaries		(198,243	)		(406,447	)		174,658			232,184			197,848			—
Investments in loans receivable direct financing leases, and other investments		—			—			(200,000	)		(196,500	)		—			(396,500	)
Construction in progress and other		—			(490	)		(6,304	)		1,372			—			(5,422	)
Net cash provided by (used in) investing activities		(198,243	)		(406,937	)		(32,317	)		38,240			197,848			(401,409	)
Financing Activities
Revolving credit facilities, net		—			(50,000	)		—			(39,600	)		—			(89,600	)
Additions to term debt		—			300,000			—			—			—			300,000
Payments of term debt		—			—			—			(58	)		—			(58	)
Distributions paid		(22,345	)		(22,412	)		—			—			22,345			(22,412	)
Sale of common stock, net		220,193			220,193			—			—			(220,193	)		220,193
Lease deposits and other obligations to tenants		—			—			155			(265	)		—			(110	)
Debt issuance costs paid and other financing activities		—			(6,162	)		—			(20	)		—			(6,182	)
Net cash provided by financing activities		197,848			441,619			155			(39,943	)		(197,848	)		401,831
Increase (decrease) in cash and cash equivalents for period		—			23,620			155			(1	)		—			23,774
Cash and cash equivalents at beginning of period		—			101,230			1,409			87			—			102,726
Cash and cash equivalents at end of period	$	—		$	124,850		$	1,564		$	86		$	—		$	126,500

Condensed Consolidated Statements of Cash Flows

For the Three Months Ended March 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	$	(49	)	$	(8,847	)	$	19,492		$	8,690		$	—		$	19,286
Investing Activities
Real estate acquired		—			—			(168,589	)		(4,897	)		—			(173,486	)
Principal received on loans receivable		—			—			—			580			—			580
Investments in and advances to subsidiaries		22,366			(109,826	)		147,823			(38,046	)		(22,317	)		—
Investments in loans receivable and other investments		—			—			—			(5,463	)		—			(5,463	)
Construction in progress and other		—			—			(3,064	)		(1,583	)		—			(4,647	)
Net cash provided by (used in) investing activities		22,366			(109,826	)		(23,830	)		(49,409	)		(22,317	)		(183,016	)
Financing Activities
Revolving credit facilities, net		—			58,000			—			40,400			—			98,400
Payments of term debt		—			(6,851	)		(70	)		(24	)		—			(6,945	)
Distributions paid		(22,317	)		(22,374	)		—			—			22,317			(22,374	)
Lease deposits and other obligations to tenants		—			—			3,032			580			—			3,612
Debt issuance costs paid and other financing activities		—			(225	)		—			(136	)		—			(361	)
Net cash provided by financing activities		(22,317	)		28,550			2,962			40,820			22,317			72,332
Increase in cash and cash equivalents for period		—			(90,123	)		(1,376	)		101			—			(91,398	)
Cash and cash equivalents at beginning of period		—			96,822			1,387			199			—			98,408
Cash and cash equivalents at end of period	$	—		$	6,699		$	11		$	300		$	—		$	7,010