Earnings Per Share/Common Unit

6 Months Ended

Jun. 30, 2012

Earnings Per Share/Common Unit

9. Earnings Per Share/Common Unit

Medical Properties Trust, Inc.

Our earnings per share were calculated based on the following (amounts in thousands):

	For the Three Months Ended June 30,
	2012			2011
Numerator:
Income from continuing operations	$	20,640		$	1,676
Non-controlling interests’ share in continuing operations		(44	)		(43	)
Participating securities’ share in earnings		(238	)		(281	)
Income from continuing operations, less participating securities’ share in earnings		20,358			1,352
Income (loss) from discontinued operations attributable to MPT common stockholders		(1,280	)		1,007
Net income, less participating securities’ share in earnings	$	19,078		$	2,359
	For the Three Months Ended June 30,
	2012			2011
Denominator
Basic weighted-average common shares		134,715			110,589
Dilutive share options		—			11
Dilutive weighted-average common shares		134,715			110,600
	For the Six Months Ended June 30,
	2012			2011
Numerator:
Income from continuing operations	$	30,822		$	11,058
Non-controlling interests’ share in continuing operations		(87	)		(88	)
Participating securities’ share in earnings		(490	)		(597	)
Income from continuing operations, less participating securities’ share in earnings		30,245			10,373
Income (loss) from discontinued operations attributable to MPT common stockholders		(855	)		2,449
Net income, less participating securities’ share in earnings	$	29,390		$	12,822
Denominator
Basic weighted-average common shares		129,810			110,495
Dilutive share options		—			9
Dilutive weighted-average common shares		129,810			110,504

MPT Operating Partnership, L.P.

Our earnings per common unit were calculated based on the following (amounts in thousands):

	For the Three Months Ended June 30,
	2012			2011
Numerator:
Income from continuing operations	$	20,640		$	1,703
Non-controlling interests’ share in continuing operations		(44	)		(43	)
Participating securities’ share in earnings		(238	)		(281	)
Income from continuing operations, less participating securities’ share in earnings		20,358			1,379
Income (loss) from discontinued operations attributable to MPT Operating Partnership partners		(1,280	)		1,007
Net income, less participating securities’ share in earnings	$	19,078		$	2,386
Denominator
Basic weighted-average units		134,715			110,589
Dilutive options		—			11
Dilutive weighted-average units		134,715			110,600
	For the Six Months Ended June 30,
	2012			2011
Numerator:
Income from continuing operations	$	30,822		$	11,102
Non-controlling interests’ share in continuing operations		(87	)		(88	)
Participating securities’ share in earnings		(490	)		(597	)
Income from continuing operations, less participating securities’ share in earnings		30,245			10,417
Income (loss) from discontinued operations attributable to MPT Operating Partnership partners		(855	)		2,449
Net income, less participating securities’ share in earnings	$	29,390		$	12,866
Denominator
Basic weighted-average units		129,810			110,495
Dilutive options		—			9
Dilutive weighted-average units		129,810			110,504

For the three and six months ended June 30, 2012 and 2011, 0.1 million of options were excluded from the diluted earnings per share/unit calculation as they were not determined to be dilutive. Shares/units that may be issued in the future in accordance with our exchangeable senior notes were excluded from the diluted earnings per share/unit calculation as they were not determined to be dilutive.