XML 53 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Operating Activities      
Net income $ 90,077 $ 26,714 $ 23,012
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 35,593 35,477 26,312
Amortization and write-off of deferred financing costs and debt discount 3,457 9,289 6,110
Premium on extinguishment of debt   13,091 3,833
Direct financing lease (interest) accretion (3,104)    
Straight-line rent revenue (8,309) (7,142) (4,932)
Share/Unit-based compensation expense 7,637 6,983 6,616
Impairment charge   564 12,000
(Gain) loss from sale of real estate (16,369) (5,431) (10,566)
Provision for uncollectible receivables and loans   1,499 2,400
Straight-line rent write-off 6,456 2,470 3,694
Payment of discount on extinguishment of debt   (4,850) (7,324)
Other adjustments 538 1,058 (30)
Decrease (increase) in:      
Interest and rent receivable (17,261) (6,118) (5,490)
Other assets 91 142 (566)
Accounts payable and accrued expenses 9,201 5,354 (3,177)
Deferred revenue (2,698) 170 8,745
Net cash provided by operating activities 105,309 79,270 60,637
Investing activities      
Cash paid for acquisitions and other related investments (621,490) (278,963) (137,808)
Net proceeds from sale of real estate 71,202 41,130 97,669
Principal received on loans receivable 10,931 4,289 90,486
Investment in loans receivable (1,293) (861) (11,637)
Construction in progress (44,570) (22,999) (6,638)
Other investments, net (31,908) (8,217) (9,291)
Net cash (used for) provided by investing activities (617,128) (265,621) 22,781
Financing activities      
Proceeds from term debt, net of discount 300,000 450,000 148,500
Payments of term debt (232) (246,262) (216,765)
Payment of deferred financing costs (6,247) (15,454) (6,796)
Revolving credit facilities, net 35,400 89,600 (137,200)
Distributions paid (103,952) (89,601) (77,087)
Lease deposits and other obligations to tenants (11,436) 8,621 3,667
Proceeds from sale of common shares/units, net of offering costs 233,048   288,066
Other (177) (6,235) (2,702)
Net cash provided by (used in) financing activities 446,404 190,669 (317)
Increase (decrease) in cash and cash equivalents for the year (65,415) 4,318 83,101
Cash and cash equivalents at beginning of period 102,726 98,408 15,307
Cash and cash equivalents at end of period 37,311 102,726 98,408
Interest paid, including capitalized interest of $1,596 in 2012, $896 in 2011, and $63 in 2010 51,440 38,463 29,679
Supplemental schedule of non-cash investing activities:      
Real estate acquired via assumption of mortgage loan   (14,592)  
Loan conversion to equity interest 1,648    
Mortgage loan issued from sale of real estate 3,650    
Supplemental schedule of non-cash financing activities:      
Assumption of mortgage loan (as part of real estate acquired)   14,592  
Dividends declared, not paid 27,786 22,407 22,374
MPT Operating Partnership, L.P.
     
Operating Activities      
Net income 90,077 26,731 23,087
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 35,593 35,477 26,312
Amortization and write-off of deferred financing costs and debt discount 3,457 9,289 6,110
Premium on extinguishment of debt   13,091 3,833
Direct financing lease (interest) accretion (3,104)    
Straight-line rent revenue (8,309) (7,142) (4,932)
Share/Unit-based compensation expense 7,637 6,983 6,616
Impairment charge   564 12,000
(Gain) loss from sale of real estate (16,369) (5,431) (10,566)
Provision for uncollectible receivables and loans   1,499 2,400
Straight-line rent write-off 6,456 2,470 3,694
Payment of discount on extinguishment of debt   (4,850) (7,324)
Other adjustments 538 1,058 (30)
Decrease (increase) in:      
Interest and rent receivable (17,261) (6,118) (5,490)
Other assets 91 142 (566)
Accounts payable and accrued expenses 9,201 5,337 (3,252)
Deferred revenue (2,698) 170 8,745
Net cash provided by operating activities 105,309 79,270 60,637
Investing activities      
Cash paid for acquisitions and other related investments (621,490) (278,963) (137,808)
Net proceeds from sale of real estate 71,202 41,130 97,669
Principal received on loans receivable 10,931 4,289 90,486
Investment in loans receivable (1,293) (861) (11,637)
Construction in progress (44,570) (22,999) (6,638)
Other investments, net (31,908) (8,217) (9,291)
Net cash (used for) provided by investing activities (617,128) (265,621) 22,781
Financing activities      
Proceeds from term debt, net of discount 300,000 450,000 148,500
Payments of term debt (232) (246,262) (216,765)
Payment of deferred financing costs (6,247) (15,454) (6,796)
Revolving credit facilities, net 35,400 89,600 (137,200)
Distributions paid (103,952) (89,601) (77,087)
Lease deposits and other obligations to tenants (11,436) 8,621 3,667
Proceeds from sale of common shares/units, net of offering costs 233,048   288,066
Other (177) (6,235) (2,702)
Net cash provided by (used in) financing activities 446,404 190,669 (317)
Increase (decrease) in cash and cash equivalents for the year (65,415) 4,318 83,101
Cash and cash equivalents at beginning of period 102,726 98,408 15,307
Cash and cash equivalents at end of period 37,311 102,726 98,408
Interest paid, including capitalized interest of $1,596 in 2012, $896 in 2011, and $63 in 2010 51,440 38,463 29,679
Supplemental schedule of non-cash investing activities:      
Real estate acquired via assumption of mortgage loan   (14,592)  
Loan conversion to equity interest 1,648    
Mortgage loan issued from sale of real estate 3,650    
Supplemental schedule of non-cash financing activities:      
Assumption of mortgage loan (as part of real estate acquired)   14,592  
Dividends declared, not paid $ 27,786 $ 22,407 $ 22,374